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☆ The UK's Covid vaccine program and delta surge means it's now a test case for the world
▼ + stars: | 2021-06-25 | by ( Holly Ellyatt | ) www.cnbc.com sentiment -0.98 time to read: +2 min

LONDON — The U.K. has one of the highest Covid-19 vaccination rates in the world, yet it's seeing a new surge in coronavirus cases largely attributed to the delta variant that first originated in India. Experts say that close attention is being paid to the latest data out of the U.K. as it could be a bellwether for others. And there is a fear that where the U.K. now treads, others — like the U.S. — could follow. "All eyes (are) on UK Covid trends," Kallum Pickering, senior economist and director at Berenberg Bank, said in a note Tuesday. Secondly, he noted that new hospital admissions had increased less than recorded infections — and by much less than during the winter wave.

Persons: Anthony of Padua, Kallum Pickering, Pickering Organizations: St, Anthony of Padua Roman Catholic Church, LONDON, Berenberg Bank Locations: Bronx of New York City, United States, India, U.S

☆ Indonesia's health-care workers struggle with a 'double burden' as cases rise, humanitarian organization says
▼ + stars: | 2021-06-25 | by ( Abigail Ng | ) www.cnbc.com sentiment -0.98 time to read: +1 min

Medical workers in Indonesia are grappling with the pressure of caring for Covid-19 patients while quickly vaccinating the country's residents as infections increase, according to a global health and humanitarian relief organization. "Health care workers in Indonesia are struggling with a double burden," said Edhie Rahmat, executive director for Indonesia at Project HOPE, short for Health Opportunities for People Everywhere. First, they have to take care of both Covid patients and patients with other diseases. Total infections crossed the 2 million threshold on Monday, according to data compiled by Johns Hopkins University. Meanwhile, around 8.9% of Indonesia's population has received at least one dose of a Covid vaccine, and 4.6% of the country is fully vaccinated, according to Our World in Data.

Persons: Edhie Rahmat Organizations: CNBC, Johns Hopkins University . Locations: Indonesia

☆ Chinese companies sign up for Euro 2020 soccer sponsorships in a bid to go global
▼ + stars: | 2021-06-25 | by ( Evelyn Cheng | ) www.cnbc.com + 0.00 time to read: +5 min

Football fans watch UEFA Euro 2020 Championship Group A match between Wales and Switzerland at a pub on June 12, 2021 in Shanghai, China. The month-long Euro 2020 soccer tournament, which began June 11, was postponed from last year due to the pandemic. In 2018, Alipay agreed to an eight-year partnership that included Euro 2020 and Euro 2024. For Euro 2020, Alipay's deal includes displaying English and Chinese-language versions of its subsidiaries. China's fan baseAnother Chinese company looking to profit from the tournament is iQiyi, which acquired the online live streaming rights for Euro 2020.

Persons: Chen Yuyu, Pierre Justo, Hisense, Alipay, Ant, Lingxiao Yu, Kantar's Justo, Douyin Organizations: UEFA, Visual China, Getty, Union of European Football Associations, Gazprom, Volkswagen, FedEx, Alibaba, Associated Press, Financial Times, CNBC, Volvo, Heineken, iQiyi, CCTV, Weibo, Twitter, ByteDance Locations: Wales, Switzerland, Shanghai, China, BEIJING, UEFA European, Europe, Qingdao, Shandong province, France, Germany, Spain, Russian, Brazil, TikTok

☆ Travel writers share the biggest mistakes tourists make in their cities
▼ + stars: | 2021-06-25 | by ( Monica Buchanan Pitrelli | ) www.cnbc.com + 0.00 time to read: +6 min

Travel writers make a career out of helping tourists navigate unfamiliar places. Here, CNBC's travel contributors share the biggest mistakes they see visitors make in the cities they call home. No matter if Google Maps shows your destination isn't far, take a taxi or the MRT [Mass Rapid Transit] train. —Christian Barker, AustraliaSeeing it all in New York City"New York is a vast destination with a litany of choices, and that makes any tourist's time in the city precious. I always wondered why visitors — be it tourists or business travelers — reduced the city to a shopping and dining paradise.

Persons: you'd, — Christian Barker, I've, —, you've, You'll, Lady Liberty, — Tracy Kaler, Sheryl Nash, Nance, haven't, a.m, — Carrie Hutchinson, it's, — Chris Dwyer, Petra Loho, Nigel Killeen Organizations: of, Empire, Metropolitan Museum of Art, Jacobs Stock Photography, DigitalVision, Melbourne, Cote, Orient, Mass Transit Locations: Singapore, Australia, New York City, New York, Midtown, Brooklyn, Central, Manhattan, New, York, Ellis Island, , New York, United States, Jamaica, Rivers, Montego, Portland . Jamaica, Melbourne, Hong Kong, United Kingdom, Austria, Bangkok, Thailand

☆ Hong Kong's Hang Seng index jumps 1% as Asia-Pacific stocks rise
▼ + stars: | 2021-06-25 | by ( Eustance Huang | ) www.cnbc.com sentiment -0.82 time to read: +1 min

SINGAPORE — Asia-Pacific stocks jumped in Friday trade after the S&P 500 rose to a record closing high overnight stateside. Hong Kong's Hang Seng index led gains among the region's major markets, jumping 1.14% by the afternoon. The broader Hang Seng Tech index gained 2.21%. XPeng launches Hong Kong offeringChinese electric vehicle maker XPeng on Friday announced the launch of its Hong Kong public offering. S&P 500 record closeOvernight on Wall Street, the S&P 500 gained 0.58% to a new record closing high of 4,266.49.

Persons: Alibaba, XPeng, Joe Biden Organizations: Seng, Nikkei, Hong Kong, Friday, CNBC, HK, Dow Jones Industrial, Nasdaq, U.S, White Locations: SINGAPORE — Asia, Pacific, Shanghai, Shenzhen, Australia, Asia, Japan, Hong, U.S, Hong Kong

☆ Big Oil's rise in climate lawsuits draws parallels to Big Tobacco
▼ + stars: | 2021-06-25 | by ( Sam Meredith | ) www.cnbc.com + 0.00 time to read: +7 min

The prospect of a rising tide of climate litigation cases against heavy emitting businesses comes shortly after a landmark courtroom defeat for Royal Dutch Shell. INA FASSBENDER | AFP | Getty ImagesSince the turn of the century, more than 2,000 climate litigation cases were found to have been filed in a trend that is widely expected to have global implications for carbon-intensive companies. Nonetheless, it is the Dutch court ruling against Shell that is thought to have emboldened climate activists into taking on corporates directly. EcocideThe risks of a surging number of climate litigation cases for businesses include a changing regulatory environment, significant reputational damage and the expanding nature of the cases being brought. Among the new arenas of climate litigation risk, analysts say, are fraud and consumer protection liabilities, planning and permitting laws and environmental performance.

Persons: Shell, Peter Boer, Elizabeth Hypes, Verisk Maplecroft, Verisk Maplesoft, Franca Wolf, Maplecroft, Wolf, that's, Hypes, LOGAN CYRUS, Norway's, MUNIR UZ ZAMAN Organizations: Royal Dutch Shell Plc, Bloomberg, Getty, Royal, Shell, CNBC, INA, AFP, EU, U.S, Gas, Exxon, of Human Locations: The Hague, Netherlands, Hague, Paris, Weisweiler, Germany, U.S, Argentina, South Africa, India, Europe, Central Asia, Charlotte , North Carolina, Caribbean, corporates, Dhaka

☆ Hong Kong's security chief promoted to city's No. 2 official; police chief to lead security
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.94 time to read: +2 min

John Lee, Hong Kong's secretary for security, speaks during a news conference on Thursday, Jun. Chan Long Hei | Bloomberg | Getty ImagesChina on Friday promoted Hong Kong's top security official to the territory's No. Chief Executive Carrie Lam said Secretary for Security John Lee would replace Matthew Cheung as the city's chief secretary, while police chief Chris Tang would take over Lee's role. China effectively ended multiparty democracy in Hong Kong by having the ceremonial Chinese legislature impose the national security law without debate or a vote in the city's Legislative Council. In recent months, police have arrested most of the city's pro-democracy activists.

Persons: John Lee, Hong, Chan Long Hei, Carrie Lam, Matthew Cheung, Chris Tang, Hong Kong's, Jimmy Lai Organizations: Bloomberg, Getty, China, Apple Daily, Police, city's Legislative, Council, Beijing, Hong Locations: Beijing, British, Hong Kong, China, city's

☆ Shareholders vote out Toshiba board chairman in big win for corporate governance in Japan
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99 time to read: +1 min

Shareholders at crisis-ridden Toshiba voted out its board chairman and one other director on Friday, a forceful rebuke of the company after it was found to have colluded with the government in suppressing foreign investor interests. For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. The newly elected board will meet later on Friday to discuss who will head the new board. According to one Toshiba source, foreign investors had voted in greater numbers than in the company's previous shareholder meetings as they saw it as an important test case of corporate governance in Japan. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place.

Persons: Justin Tang, Osamu Nagayama, Nagayama Organizations: Toshiba, United First Partners Locations: Tokyo, Japan, Singapore

☆ U.S. House committee to consider sweeping China bill next week
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.93 time to read: +1 min

Socially distanced members of Congress stand as US President Joe Biden addresses a joint session of Congress at the US Capitol in Washington, DC, on April 28, 2021. The U.S. House of Representatives Foreign Affairs Committee has scheduled a meeting on Wednesday to consider sweeping legislation to boost economic competitiveness and push Beijing on human rights, part of an ongoing effort in Congress to address competition with China. The Senate on June 8 passed by a strong bipartisan 68-32 majority its own sweeping China bill, the "U.S. House leaders opted not to take up and consider the Senate's legislation. House committees have instead been working on their own legislation, a process that could mean a months-long wait for any bill to be sent to the White House for Biden to sign into law.

Persons: Joe Biden, Joe Biden's, Gregory Meeks, Biden Organizations: U.S . House, Representatives Foreign, China, American Global Leadership, Congress, Foreign Affairs, Innovation, White Locations: Washington ,, Beijing, China, U.S

☆ Downtown Sydney, Bondi Beach head for 1-week lockdown as delta Covid infections spike
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -1.00 time to read: +2 min

A pedestrian walks past a mural depicting an emoji wearing a protective mask along the promenade at Bondi Beach in Sydney, Australia, on Tuesday, March 24, 2020. Brendan Thorne | Bloomberg | Getty ImagesDowntown Sydney and the city's eastern suburbs, which include Bondi Beach, will go into a one-week lockdown from midnight Friday as authorities struggle to contain a spike in the highly contagious Delta Covid-19 virus variant in the city. People are allowed to leave their homes only for essential work or education, medical reasons, grocery shopping or outdoor exercise. "We don't want to see this situation linger for weeks, we would like to see this situation end sooner rather than later," Berejiklian said. AMA president Omar Khorshid said the latest restrictions were "not quite enough" and urged officials to place the entire city under lockdown.

Persons: Brendan Thorne, Gladys Berejiklian, Berejiklian, Omar Khorshid Organizations: Bloomberg, Getty Images Downtown Sydney, Australian Medical Association, Authorities, NSW Locations: Bondi Beach, Sydney, Australia, Bondi, New South Wales, NSW, Australia's

☆ Oil keeps climbing on tight supply outlook, eyes on OPEC+
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99 time to read: +2 min

Cranes at an oil industry support facility in Port Fourchon, Louisiana, U.S., on Wednesday, April 21, 2021. Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August. Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week. "(The market) certainly has momentum behind it...It's really in the hands of OPEC+," said Commonwealth Bank commodities analyst Vivek Dhar. That's going to determine where oil prices go," Dhar said.

Persons: It's, Vivek Dhar, Dhar Organizations: . West Texas, Brent, Organization of, Petroleum, Commonwealth Bank, ANZ, U.S Locations: Port Fourchon , Louisiana, U.S, Russia, OPEC, United States, Europe, China, Iran

☆ Dollar firm as traders brace for U.S. inflation data
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.00 time to read: +3 min

The U.S. dollar held near multi-month highs on Friday as investors warily awaited U.S. inflation data, while the pound nursed modest losses after Bank of England (BoE) policymakers leaned away from flagging rate rises. "The dollar can jump if inflation surprises to the upside," said Joe Capurso, head of international economics at the Commonwealth Bank of Australia in Sydney. The stronger dollar has kept other majors in check through the week, even against currencies where rate rises are likely to land sooner than in the United States. With risk appetite looking resilient, any narrowing in this gap probably depends on how far the (Fed)-inspired U.S. dollar recovery can extend." In emerging markets, the Mexican peso surged to a two-week high following a surprise benchmark interest rate hike.

Persons: warily, BoE, Jerome Powell, Joe Capurso, Sean Callow, Sterling, Tapas Strickland Organizations: U.S, Bank of England, U.S . Federal Reserve, Reuters, Commonwealth Bank of Australia, U.S ., New Zealand, Westpac, National Australia Bank Locations: Asia, Sydney, U.S, United States, Australia

☆ Gold holds steady as traders seek direction from U.S. data
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99 time to read: +2 min

Gold bars at Solar Capital Gold Zrt. Gold prices held steady on Friday as investors awaited U.S. inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. Investor focus now shifts to U.S. producer price data on Friday for further clues on rising inflation. Some investors view gold as a hedge against higher inflation that could follow stimulus measures. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.4% to 1,042.87 tons on Thursday.

Organizations: Solar, Federal Reserve, U.S, Bank of England, Trust Locations: Budapest, Hungary

☆ Private investors on board with sustainable infrastructure transition
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.95 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate investors 'largely on board' with transition to sustainable infrastructure: Bain & Co.Satish Shankar of Bain & Company says private investors see sustainable investing as "an opportunity not just to do public good, but also to make money."

Persons: Satish Shankar Organizations: Bain, Co, Bain & Company

☆ China's tight fiscal policy could 'ease off' in second half of 2021: Deutsche Bank
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's tight fiscal policy could 'ease off' in second half of 2021: Deutsche BankMichael Spencer of Deutsche Bank expects the People's Bank of China to start raising interest rates early next year.

Persons: Deutsche Bank Michael Spencer Organizations: Deutsche Bank, Bank of Locations: Bank of China

☆ Asian bond markets continue to expand amid Covid: ADB economist
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.99 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsian bond markets continue to expand amid Covid: ADB economistShu Tian of the Asian Development Bank says she believes the Asian bond market will continue to support the region's economic recovery from the pandemic.

Persons: Shu Tian Organizations: Asian Development Bank

☆ The labor market might be much tighter than we think, says economist
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe labor market might be much tighter than we think, says economistCarl Tannenbaum of Northern Trust says he expects many employees who have left the work force to come back to the labor market later this year, adding that their return will help keep wages and prices in check.

Persons: Carl Tannenbaum Organizations: Northern Trust

☆ Chinese Tesla rival Xpeng to raise up to $2 billion from Hong Kong listing
▼ + stars: | 2021-06-25 | by ( Arjun Kharpal | ) www.cnbc.com sentiment -0.99 time to read: +1 min

GUANGZHOU, China — Chinese electric carmaker Xpeng will raise up to nearly $2 billion in a Hong Kong listing. At the maximum offer price, Xpeng would raise 15.3 billion Hong Kong dollars ($1.97 billion) before related costs such as underwriting fees. CNBC reported earlier this week that Xpeng is looking to raise between $1 billion and $2 billion. Its share offering in Hong Kong is unusual because it's not a secondary listing, as companies including Alibaba and JD.com have done. A secondary listing is when a company already has a main listing location such as the United States, and it then sells shares on another exchange.

Organizations: Guangzhou International Automobile, China Import, Hong, Hong Kong, CNBC Locations: Guangzhou, Guangdong Province of China, GUANGZHOU, China, Hong Kong, New York, United States

☆ Prominent investor Scott Minerd predicts the 'real bottom' in the price of bitcoin
▼ + stars: | 2021-06-25 | by ( Yen Nee Lee | ) www.cnbc.com sentiment -1.00 time to read: 1 min

A Bitcoin logo seen displayed on a smartphone with stock market percentages in the background in this illustration taken April 26, 2021. Prominent investor Scott Minerd told CNBC that the fall in bitcoin is not yet over and shared his forecast for where the "real bottom" in the cryptocurrency's price could be.

Persons: Scott Minerd Organizations: CNBC Locations: bitcoin

☆ RBC's Gerard Cassidy discusses the most undervalued U.S. banking stock
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.82 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's Gerard Cassidy discusses the most undervalued U.S. banking stockGerard Cassidy of RBC Capital Markets says the banking stocks could have very meaningful upside ahead given the strong economy and rates outlook. He also discusses the "underdog" in the sector.

Persons: RBC's Gerard Cassidy, Gerard Cassidy Organizations: RBC Capital Markets

☆ Changing definition of dressing will drive Nike shares higher: Analyst
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 1.00 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChanging definition of dressing will drive Nike shares higher: AnalystNike has built a solid customer base among young generations and is able to keep relatively stable prices, says Sam Poser of Williams Trading who sees upside in Nike shares.

Persons: Sam Poser Organizations: Nike, Williams Trading

☆ European shares set to inch higher as investors monitor recovery, tapering fears
▼ + stars: | 2021-06-25 | by ( Elliot Smith | ) www.cnbc.com sentiment -0.90 time to read: +1 min

European stocks are set to open slightly higher on Friday, tracking global sentiment as investors place faith in the prospect of a steady economic rebound. Britain's FTSE 100 is seen around 9 points higher at 7,119, Germany's DAX is set to climb around 24 points to 15,613 and France's CAC 40 is expected to add around 10 points to 6,641, according to IG data. Shares in Asia-Pacific broadly advanced during Friday's trade, led by Hong Kong's Hang Seng index, while U.S. stock futures are pointing to a higher open on Wall Street later in the day. Investors will be watching for a key U.S. inflation indicator on Friday when the Commerce Department releases the core personal consumption expenditures index. Economists polled by Dow Jones expect prices to have risen by 3.4% in May from a year earlier.

Persons: Germany's DAX, Hong Kong's, Dow Jones Organizations: CAC, Commerce Department Locations: Asia, Pacific, U.S

☆ China and India are popular infrastructure investment choices: Expert
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 1.00 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInfrastructure projects in China and India are long-term investment opportunities: Credit SuisseSuresh Tantia of Credit Suisse says infrastructure is a "great investment vehicle," with many investors looking for long-term opportunities in China and India.

Persons: Suisse Suresh Organizations: Suisse, Credit Suisse Locations: China, India

☆ Global capital continues to flow into China despite U.S.-China tensions: Strategist
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com + 1.00 time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal capital continues to flow into China despite U.S.-China tensions: StrategistWang Hanfeng of China International Capital Corporation sees more than 1 trillion renminbi of foreign capital flow into China in the past two years.

Persons: Wang Hanfeng Organizations: Email Global, U.S, China International Capital Corporation Locations: China

☆ Singapore May manufacturing jumps 30% year-on-year, biggest gain in 10 years
▼ + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.98 time to read: 1 min

Singapore's industrial output beat forecasts to rise 30.0% year-on-year in May, its fastest pace in about 10 years, buoyed by a low base effect due to the city-state's coronavirus lockdown measures last year, official data showed on Friday. Economists had expected a 23.6% increase, according to the median forecast in a Reuters poll. The rise was the biggest since November 2010. On a month-on-month and seasonally adjusted basis, industrial production increased 7.2% in May, data from the Singapore Economic Development Board showed. Economists had expected a 0.9% decline.

Persons: Economists Organizations: Singapore Economic Development Locations: Singapore

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