Wall St headed for lower open as focus turns to tech earnings

Futures pointed to a lower open for Wall Street’s main indexes on Tuesday as investors banked on results from Netflix and other major technology-related companies this week to sustain the positive start to the earnings season.
20 April 2021, 18:00 PM

US Treasury creates climate hub to coordinate tax, economic policy

US Treasury Secretary Janet Yellen announced on Monday the creation of a new climate office to oversee tax and economic policies to support the administration’s efforts to combat climate change.
20 April 2021, 18:00 PM

Canada to roll out big spending in pandemic recovery budget

Canada is expected to channel funds into childcare, wage subsidies and other pandemic recovery measures as the government presents its new budget Monday ahead of possible snap elections.
19 April 2021, 18:00 PM

China plans to raise minimum renewable power purchase to 40pc

China will force regional grid firms to buy at least 40 per cent of power from non-fossil fuel sources by 2030 in order to meet the country’s climate targets, according to a new governmentdocument seen by Reuters.
19 April 2021, 18:00 PM

US banks deploy AI to monitor customers, workers amid tech backlash

Several US banks have started deploying camera software that can analyze customer preferences, monitor workers and spot people sleeping near ATMs, even as they remain wary about possible backlash over increased surveillance, more than a dozen banking and technology sources told Reuters.
19 April 2021, 18:00 PM

Huawei defence to ask Canada court for delay in CFO’s extradition hearings

The defense team for Huawei’s chief financial officer, Meng Wanzhou, will ask a Canadian court to delay upcoming hearings in her US extradition case, the court said on Friday.
18 April 2021, 18:00 PM

World stocks at new peaks on strong China, US data

Gold prices hit a seven-week high and global stocks scaled new records on Friday after strong US and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus pandemic.
18 April 2021, 18:00 PM

China’s Ant explores ways for Jack Ma to exit as Beijing piles pressure

Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw a line under Beijing’s scrutiny of its business, according to a source familiar with regulators’ thinking and two people with close ties to the company.
18 April 2021, 18:00 PM

‘NASA rules,’ Musk says as SpaceX wins $2.9b moon lander contract

NASA awarded billionaire entrepreneur Elon Musk’s space company SpaceX a $2.9 billion contract to build a spacecraft to bring astronauts to the moon as early as 2024, the agency said on Friday, picking it over Jeff Bezos’ Blue Origin and defense contractor Dynetics Inc.
18 April 2021, 18:00 PM

Power companies urge Biden to implement policies to cut emissions 80pc by 2030

A group of US electricity companies wrote to President Joe Biden this week saying it will work with his administration and Congress to design a broad set of policies to reach a near-term goal of slashing the sector’s carbon emissions by 2030.
18 April 2021, 18:00 PM

Some EU countries to miss April deadline for recovery plans

Some European Union governments will miss the April 30 deadline to submit their recovery plans to the European Commission, its Vice President Valdis Dombrovskis said on Friday, but they are still likely to submit the plans within a few weeks afterwards.
18 April 2021, 18:00 PM

No knockout, but new US sanctions add to Russia’s ‘slow destruction’

For all the insouciance with which markets treated Washington’s latest sanctions on Russia, its move to target Moscow’s main funding avenue - the rouble bond market - has in some ways, crossed the Rubicon, potentially with far-reaching consequences.
18 April 2021, 18:00 PM

Nissan to furlough 800 workers at its UK plant

Japan’s Nissan Motor will furlough around 800 workers at its production plant in Britain, as output slows there because of a semiconductor shortage, the Nikkei newspaper reported.
18 April 2021, 18:00 PM

A tale of two carmakers: GM and Toyota take different electric roads in China

Toyota pioneered the world’s most successful hybrid car but when it comes to pure electric vehicles it has some catching up to do, especially in China.
18 April 2021, 18:00 PM

Used electronics trading platform Aihuishou to raise up to $1b in US IPO

Chinese secondhand electronics trading platform Aihuishou is aiming to raise $500 million to $1 billion in a US initial public offering by early June, said two people with direct knowledge.
18 April 2021, 18:00 PM

US housing starts near 15-year high; consumer sentiment rises moderately

US homebuilding surged to nearly a 15-year high in March, but soaring lumber prices amid supply constraints could limit builders’ capacity to boost production and ease a shortage of homes that is threatening to slow housing market momentum.
17 April 2021, 18:00 PM

In short supply: Suez snarl-up, virus hit UK gnome market

High demand during lockdown and supply problems following the Suez Canal blockage have caused a shortage of garden gnomes in Britain, the BBC reported on Thursday.
17 April 2021, 18:00 PM

Brexit sparks $1.4tr UK assets switch to EU: study

UK banks and insurers have shifted more than $1.4 trillion to the European Union in response to Brexit, a study published Friday found.
17 April 2021, 18:00 PM

Cheaper cellphone charges to weigh on BOJ’s inflation forecast

The Bank of Japan’s new price forecast due later this month will likely come under significant downward pressure due to cuts in cellphone charges, sources said, adding to doubts about when it will achieve its elusive 2 per cent inflation target.
17 April 2021, 18:00 PM

Emerging central banks hike rates in March

Emerging market central banks delivered five net interest rate hikes in March, marking the end of an easing cycle which started in 2019 as central banks in the developing world grapple with rising inflation pressures.
17 April 2021, 18:00 PM