19 Май

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FTSE falls, cryptos collapse, crude drops By Investing.com

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Key Points FTSE 100 closing price of 6,950.63, -1.2% Oil names lower as Iran deal close Cryptocurrencies fall in wake of China crackdown UK inflation picks up By Samuel Indyk Investing.com – The FTSE 100 fell on Wednesday amid a broad based decline in basic materials and oil & gas companies. BP (LON:BP) and Royal Dutch Shell (LON:RDSa) were both lower as crude oil declined. The weekly EIA crude oil inventory data showed a smaller than expected build in US crude stocks. WTI and Brent crude futures both remained sharply lower following the data...

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19 Май

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Twitter finds its AI tends to crop out Black people, men from photos By Reuters

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By Paresh Dave (Reuters) - Twitter Inc (NYSE:TWTR)'s image-cropping algorithm has a problematic bias toward excluding Black people and men, the company said in new research on Wednesday, adding that "how to crop an image is a decision best made by people." The study by three of its machine learning researchers was conducted after user criticism last year about image previews in posts excluding Black people's faces. It found an 8% difference from demographic parity in favor of women, and a 4% favor toward white individuals. The paper cited several possible reasons, including...

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19 Май

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Fed Backs Current Policy Stance as Pick-Up in Inflation Transitory: Minutes By Investing.com

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By Yasin Ebrahim Federal Reserve officials backed the current accommodative monetary policy stance when they met last month, pointing to an uneven recovery and expectations the pick-up in inflation is transitory, according to the minutes of the Fed's April 27-28 meeting, released Wednesday. "Participants also noted that the expected surge in demand as the economy reopens further, along with some transitory supply chain bottlenecks, would contribute to PCE price inflation temporarily running somewhat above 2 percent. After the transitory effects of these factors fade, participants generally expected measured inflation to ease," the minutes showed. At the...

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19 Май

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Spanish tourism looking to vaccines, UK green light, says Melia CEO By Reuters

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By Nathan Allen MADRID (Reuters) - A recovery in Spanish tourism this summer depends on the successful rollout of international vaccination certificates and Britain adding Spain to its green list of safe destinations, the chief executive of Melia Hotels said on Wednesday. "If that happens, I believe we can hope for a good summer, though far off from 2019's levels," Gabriel Escarrer told Reuters on the sidelines of Madrid's Fitur global travel congress. Just a fifth of the usual 250,000 attendees are expected to attend Fitur in person this year, as travel restrictions kept many...

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19 Май

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Apple made more than $100 million in commissions from ‘Fortnite’ – executive at trial By Reuters

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By Stephen Nellis (Reuters) - Apple Inc (NASDAQ:AAPL) made more than $100 million in commissions from Epic Games' "Fortnite" during the two years the online game was on the App Store, an Apple executive testified on Wednesday. Michael Schmid, Apple's head of game business development for the App Store, took the stand during the third week of an antitrust trial in federal court in Oakland, California. Apple kicked the popular game off its App Store last year after Epic introduced its own system for in-app payments. Epic then sued Apple alleging that the iPhone maker had...

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19 Май

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Irish aviation to shrink 30% after ‘repressive’ lockdown – IATA By Reuters

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DUBLIN (Reuters) - Ireland's air connectivity is likely to shrink by 30% after the imposition of Europe's most "repressive" COVID-19 travel restrictions and may need five years to recover, the head of global industry group IATA Willie Walsh warned on Wednesday. Walsh was speaking a day after Irish airline Aer Lingus, part of the International Airlines Group (LON:ICAG) he headed until late last year, announced a major restructuring including layoffs to "rebuild financial health." Ryanair, Ireland's largest airline, has said it will give priority to other European markets in the coming months and base fewer...

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19 Май

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The Almighty Credit Score Isn’t as Reliable Post-Covid, Fed Says By Bloomberg

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(Bloomberg) -- The Federal Reserve warned that credit scores -- the all-powerful number that can determine if a consumer is able to qualify for a loan, rent a home or even buy car insurance -- might have gotten less reliable during the coronavirus pandemic. Scores for homeowners who took advantage of payment relief on their mortgages actually rose an average of 14 points over the course of the pandemic, according to a new analysis by the Fed. That was a bigger jump than the seven-point increase seen among borrowers that didn’t take forbearance on their...

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19 Май

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UK watchdog says some asset managers fail to back up green label on investment products By Reuters

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By Huw Jones LONDON (Reuters) - Asset managers too often fail to explain clearly how their products meet sustainable investment criteria, Britain's Financial Conduct Authority said on Wednesday as the watchdog cracks down on "greenwashing" and lack of clarity around how fees are established. The rush of cash into funds badged as meeting certain environmental, social and governance (ESG) criteria has prompted regulators to root out asset managers that "greenwash" or overplay the green credentials of their funds. Nick Miller, the FCA's head of asset management, said asset managers must be able to articulate clearly...

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19 Май

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Consumer Spending ‘On Fast Forward’ as Covid Hibernation Ends By Bloomberg

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(Bloomberg) -- Americans are leaving the house, ditching the masks and spending again. At Walmart (NYSE:WMT) Inc., sales of teeth whitening kits doubled last month while luggage soared 400% and gum and mints flew off the shelves. Sales in Target Corp. (NYSE:TGT) stores jumped as shoppers grabbed dresses, cosmetics, sunscreen and sporting goods. Macy’s Inc. saw increased demand for prom dresses, stylish sandals and even tailored clothing for men as offices reopen. Add it up, and you’ve got a consumer that’s quickly emerging from last year’s pandemic hibernation, a time when...

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19 Май

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Tesla Slides as Crypto Plummets, Even as Musk Tweets Diamond Hands By Investing.com

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By Dhirendra Tripathi Investing.com – Tesla (NASDAQ:TSLA) shares erased some of their losses but were still down more than 3% amid a collapse in cryptocurrency prices, even as Elon Musk tried to salvage the situation by tweeting ‘Diamond hands.’ The ‘Diamond hands’ signal that the EV maker's CEO is prepared for the long haul in defending Bitcoin (BitfinexUSD), the biggest crypto and his favorite till a week ago before he switched his loyalty to Dogecoin. Musk’s tweet helped Bitcoin recoup some of the losses after plunging to $30,000 earlier in the day, the fall precipitated by...

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FTSE falls, cryptos collapse, crude drops By Investing.com

Twitter finds its AI tends to crop out Black people, men from photos By Reuters

Fed Backs Current Policy Stance as Pick-Up in Inflation Transitory: Minutes By Investing.com

Spanish tourism looking to vaccines, UK green light, says Melia CEO By Reuters

Apple made more than $100 million in commissions from ‘Fortnite’ – executive at trial By Reuters

Irish aviation to shrink 30% after ‘repressive’ lockdown – IATA By Reuters

The Almighty Credit Score Isn’t as Reliable Post-Covid, Fed Says By Bloomberg

UK watchdog says some asset managers fail to back up green label on investment products By Reuters

Consumer Spending ‘On Fast Forward’ as Covid Hibernation Ends By Bloomberg

Tesla Slides as Crypto Plummets, Even as Musk Tweets Diamond Hands By Investing.com

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