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China Keeping ‘Open Mind’ on G-7 Talks Aimed at Trade Abuses By Bloomberg

(Bloomberg) -- China’s ambassador to the World Trade Organization said there’s scope for Beijing to work with the U.S., the European Union and other Western nations on an agreement aimed at curbing the practices at the heart of the still-simmering U.S.-China trade conflict.“China will keep an open mind to that,” Li Chenggang said in an interview in Geneva on Wednesday, his first known talk with a Western media outlet since being appointed in February. “If we have a fair and a frank discussion on the issues, I think China will try its best to keep...

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UK government to invest 338 million pounds to boost cycling, walking in England By Reuters

LONDON (Reuters) - The British government plans to invest 338 million pounds ($472 million) to build new cycle lanes and boost walking in England, hoping to make the pandemic-induced shift to cycling permanent as part of efforts toward carbon neutrality. The investment, aimed at making cycling and walking easier and safer, represents a 30% increase on the budget for active travel in last year's spending review, the government said in a statement. During the last year, the number of miles cycled on British roads jumped by 46%, the government said. "Millions of us have found...

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S&P 500, Dow in Record Climb as Signs of Consumer Strength Boost Cyclicals By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 climbed to a fresh record high Thursday, shrugging off disappointing second-quarter U.S. growth amid signs consumer spending remains healthy. The S&P 500 rose 0.6% after hitting a record of 4,430.20. The Dow Jones Industrial Average gained 0.6%, or 215 points to a record of 25,171.52. The Nasdaq was up 0.3%. Real gross domestic product grew at 6.5% annual rate in the second quarter, missing expectations for nearly 8.5% growth. But, a deeper look at the components of the growth gave plenty of reason for optimism as consumer spending topped...

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Biden Seeking Pledge for 40% of U.S. Car Sales to Be EV by 2030 By Bloomberg

(Bloomberg) -- The White House is negotiating to have automakers pledge that 40% or more of the vehicles they sell in the U.S. will be electric by the end of the decade, something the companies say will require the government to help promote the use of the cars. Brian Rothenberg, a spokesman for the United Auto Workers, said the union is in discussions with the White House and carmakers about a sales target, but he said an agreement has not been reached. General Motors Co (NYSE:GM). also said no agreement has been reached. A second...

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Canada shares higher at close of trade; S&P/TSX Composite up 0.46% By Investing.com

Investing.com – Canada equities were higher at the close on Thursday, as gains in the Materials, Consumer Staples and Financials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite gained 0.46% to hit a new all time high. The biggest gainers of the session on the S&P/TSX Composite were Kirkland Lake Gold Ltd (TSX:KL), which rose 5.75% or 2.870 points to trade at 52.820 at the close. Endeavour Silver Corp. (TSX:EDR) added 5.16% or 0.330 points to end at 6.720 and Sleep Country Canada Holdings Inc (TSX:ZZZ) was up...

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FTSE rallies after earnings, USD falls after Fed, Bitcoin rally fizzles near $40K By Investing.com

Key Points FTSE 100 closing price of 7,076.4, +0.85% Earnings from Shell, Anglo American , Informa , Rentokil lift FTSE BT, Smith + Nephew underperform following results USD falls after Fed Oil higher, Brent > $74 Bitcoin breaks above $40,000 but struggles to maintain rally By Samuel Indyk Investing.com – The FTSE 100 rallied on Thursday, benefitting from (mostly) strong earnings reports from a number of bellwether stocks. Royal Dutch Shell (LON:RDSa) shares soared after the company launched a share buyback and raised its dividend following a strong quarter as oil prices rose. “There...

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Pound highest in over a month as dollar dips on dovish Fed By Reuters

By Ritvik Carvalho LONDON (Reuters) - The pound hit its highest in over a month against the dollar on Thursday, extending gains driven by a fall in coronavirus cases in Britain and as a dovish U.S. Federal Reserve weighed on the greenback. The British currency has gained for five consecutive sessions, and on Thursday was 1.4% higher against the dollar on the week. By 1522 GMT, sterling was 0.5% higher on the day at $1.3869, having hit its highest since June 24 against the dollar. The dollar also fell after Fed Chair Jerome Powell's remark that...

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EU creates checklist for ‘climate proof’ infrastructure projects By Reuters

By Kate Abnett BRUSSELS (Reuters) - The European Commission on Thursday published a guide to assess whether planned infrastructure projects are equipped to cope with climate change impacts like floods and heatwaves, a condition that must be met to receive certain EU funds. The catastrophic floods that hit northwest Europe this month have heightened concerns that even in some of the world's richest countries, infrastructure is ill-prepared to cope with climate change as once-rare weather events become more common. Developers seeking cash from some EU funds are required to ensure projects like roads, railways and power...

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Mastercard profit beats estimates on overall spending boost By Reuters

(Reuters) -Mastercard Inc reported a 36% rise in second-quarter profit on Thursday that comfortably beat estimates, underpinned by a recovery in global spending as businesses start to reopen and travel shows signs of a rebound. The company's shares rose about 2% in premarket trading as the upbeat results rounded out a positive quarter from payment processors including Visa Inc (NYSE:V) and American Express Co (NYSE:AXP). Mastercard (NYSE:MA)'s cross-border volumes, which track spending on its cards beyond the country of issue, rose 58% on a local currency basis, driven by a pickup in...

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Qualcomm Trades Higher As It Forecasts Trend Toward 5G By Investing.com

By Dhirendra Tripathi Investing.com – Qualcomm (NASDAQ:QCOM) stock rose 3% in Thursday’s premarket trading after the company forecast a more promising demand for 5G services. The company shifted to upward bias in the forecast for shipments of 5G handsets that host its chips. 5G handset shipments in 2021 are predicted to come between 450 million and 500 million. While much of the world is yet to experience 5G services, manufacturers are already making devices that can run on those signals. Consumers, already exposed to fast 4G services, are also willing to shift ahead of the launch...

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