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German auto giants place their bets on hydrogen cars
  + stars: | 2021-09-22 | by ( Nick Carey | ) www.reuters.com   time to read: +8 min
Jürgen Guldner, the BMW vice president who heads up the hydrogen fuel-cell car programme, told Reuters the carmaker would build a test fleet of close to 100 cars in 2022. The Greens do, however, back the use of hydrogen fuel for ships and planes and want to invest heavily in “green” hydrogen produced solely from renewable sources. Some carmakers view hydrogen technology as an insurance policy as the EU targets an effective ban on fossil-fuel cars from 2035. LMC estimates in 2030 hydrogen fuel-cell models will make up just 0.1% of sales in Europe, and sales will only take off after 2035. “The hydrogen car has proven NOT to be the solution to climate change,” he said in a tweet this year.
Persons: Wolfgang Rattay, Germany’s, Jürgen Guldner, , We’re, we’re, we’ll, Stefan Gelbhaar, Daimler, Jörg Burzer, Joshua Cobb, It’s, BMW’s, Guldner, , ’ Cobb, Sam Adham, Herbert Diess, ” Stephan Herbst, Herbst Organizations: BMW, REUTERS, Audi, Global, Greens, Reuters, Volkswagen, Daimler AG, Daimler, Volvo Trucks, Hyundai, Germany’s Greens, Mercedes, Benz GLC, European Commission, Green, Toyota, Nissan, Honda, EU, Fitch, Hydrogen Locations: MUNICH, Munich, Germany, Europe, China, South
COLUMN-Dollar smiling from ear to ear - Mike Dolan
  + stars: | 2021-09-22 | by ( Mike Dolan | ) www.reuters.com   time to read: +5 min
The other big event of the week, the Federal Reserve’s latest policymaking meeting, provides alternative fuel for the currency. On the left side of the smile, they see growing angst that world growth has peaked, policy support is being withdrawn, global stocks are overstretched and there are “mounting global tail risks” from China and related geopolitical fears. This real rate view makes sense to those who see inflation expectations and growth potential dominating a currency’s fortunes. Morgan Stanley’s Matthew Hornbach and team also see the dollar lifted further by the rising real rate view. “The September FOMC may be a key catalyst driving U.S. (real) yields higher, which we expect to boost the dollar broadly,” they wrote this week.
Persons: it’s, JPMorgan’s Paul Meggyesi, , Morgan Stanley’s Matthew Hornbach, Organizations: Reuters, U.S ., Deutsche Bank, Bitcoin, Swiss, JPMorgan, , Treasury, U.S, Fed Locations: China, MSCI’s, it’s, “ U.S, Germany, Europe, Japan
A staff member stands beside the Taiwanese Central Bank logo in Taipei, Taiwan February 26, 2018. In the second quarter, the economy expanded 7.43% from a year earlier, slowing from 8.92% growth in the first quarter but still better than many of its regional peers. Export-dependent Taiwan also faces uncertainty about the spread of the Delta variant in key markets like China, the United States and Europe. The central bank will give its own revised forecast for economic growth this year on Thursday, having predicted a 5.08% expansion at its last quarterly meeting in June, with exports performing strongly. Poll compiled by Carol Lee; Reporting by Liang-sa Loh and Ben Blanchard; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.
Persons: Tyrone Siu, Tony Phoo, Biden, Carol Lee, Liang, sa Loh, Ben Blanchard, Ana Nicolaci da Organizations: Taiwanese Central Bank, REUTERS, Chartered's, Taiwan Semiconductor Manufacturing Co, Apple Inc, Thomson Locations: Taipei, Taiwan, TAIPEI, United, China, United States, Europe, Ana Nicolaci da Costa
However, these ambitions could be hit as a natural gas shortage on the continent drives prices higher. The front-month gas price at the Dutch TTF hub, a European benchmark, has risen more than 250% since the start of the year. Spain is not the only country to cap energy price increases, with France and Greece making similar moves. There is a wider problem, however: Some European leaders and lawmakers have blamed the EU for the energy price increases. Polish Prime Minister Mateusz Morawiecki, for instance, said earlier this month that "Polish power prices are tied to the EU's climate policies," according to Politico.
Persons: Jacob Kirkegaard, Henning Gloystein, Frans Timmermans, Gloystein, Mateusz Morawiecki, Kirkegaard Organizations: NurPhoto, Getty, European, European Commission, German Marshall Fund of, United, Eurasia Group, CNBC, EU, Politico, PGE SA, Bloomberg, European Court, Justice Locations: Neurath, Germany, Dutch, European, United States, Spain, Europe, France, Greece, Spanish, Glasgow, Bogatynia, Poland, Krakow
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailADB lowers Asia's 2021 growth forecast amid slow and uneven Covid vaccination progressAbdul Abiad of the Asian Development Bank says approximately 35% of developing Asia's population has been fully vaccinated which is well below the vaccination rates in the U.S. and Europe.
Persons: Abdul Abiad Organizations: ADB, Asian Development Bank Locations: U.S, Europe
The Genomic Map of Poland's concerns stem from questions over how Polish genomic data may be used that relate to national security, said Marek Figlerowicz, a Professor at the Institute of Bioorganic Chemistry at the Polish Academy of Sciences who steers the project. As the technology to sequence genetic data has advanced and become cheaper, Figlerowicz said, the mapping project plans to bring the remaining sequencing in-house. The project wants to ensure Poland has genomic "independence" so it can ensure data security. The European Union, which provided about 65% of the total funding for the Genomic Map, did not respond to a request for comment. BGI uses the pregnant women's genetic data for research into the traits of populations.
Persons: Kacper, Marek Figlerowicz, Figlerowicz, BGI, CEGC, Gene S.A, hasn't, Kirsty Needham, Sara Ledwith Organizations: REUTERS, China's BGI, Reuters, Institute of Bioorganic, Polish Academy of Sciences, U.S . National Security, Artificial Intelligence, Ministry of Foreign Affairs, Europe Genomics, Gene, European Union, Poland's Ministry of Education, Information Processing, People's Liberation Army, PLA, Thomson Locations: Warsaw, Poland, WARSAW, United States, Beijing, Bialystok, Europe, Poznan, CEGC, China, Sydney
REUTERS/Lee SmithSummary CO2 prices will rise sharplyUK pays fertiliser maker CF to reopen plants temporarilyPoultry plants would have closed, UK saysLONDON, Sept 22 (Reuters) - Britain warned the food industry on Wednesday that carbon dioxide prices would rise sharply after offering tens of millions of dollars of state support to a fertiliser company to avert a food supply crunch. "We need the market to adjust, the food industry knows there's going to be a sharp rise in the cost of carbon dioxide," Environment Secretary George Eustice told Sky News. He said the food industry would have to accept that the price of carbon dioxide would rise sharply, to around 1,000 pounds ($1,365) a tonne from 200 pounds a tonne. "So a big, sharp rise," Eustice said. He said the impact on food prices would be negligible.
Persons: Lee Smith, George Eustice, Eustice, Guy Faulconbridge, Kate Holton, Paul Sandle Organizations: REUTERS, U.S, CF Industries, Sky News, CF, Thomson Locations: Billingham, Britain, COVID, Asia, Europe, Cheshire
Pret, owned by investment group JAB and founder Sinclair Beecham, said on Wednesday it plans to open more than 200 UK shops in the next two years, including 100 franchise shops. Pret, as it is commonly known, currently runs 550 shops across five markets, the UK, U.S., France, Dubai and Hong Kong. Majority owner JAB and Beecham will invest a further 100 million pounds ($137 million), on top of the 185 million pounds they ploughed in to get Pret through COVID. Pret closed stores and shed jobs during the crisis as revenue slid 58% to 299 million pounds in 2020 and the group recorded an operating loss of 256.5 million pounds. Many of its UK stores are located close to offices, which were badly hit when people started working from home.
Persons: Hannah McKay, Sinclair Beecham, Beecham, Pret, Pano Christou, Christou, James Davey, Alexander Smith Organizations: REUTERS, Reuters, U.S, Waitrose, Tesco, Thomson Locations: New Cavendish, London, Britain, Europe, East, Asia, France, Dubai, Hong Kong, COVID, Pret
WASHINGTON — A long-delayed bill to provide financial support to U.S. government personnel believed to be suffering from Havana Syndrome is headed to President Joe Biden’s desk after the House passed it Tuesday. NBC News reported that diplomats affected by Havana Syndrome voiced frustration over continuing challenges in getting medical care and benefits in a tense hourlong conversation with Secretary of State Antony Blinken this month. The first incidents of the syndrome “medically confirmed” by the U.S. government were in Havana in 2016 and 2017. Many U.S. workers thought to be suffering from Havana Syndrome reported hearing a loud sound and feeling pressure in their heads. For years, those who have come forward reporting potential Havana Syndrome have complained about immense bureaucratic hurdles to getting proper medical care.
Persons: WASHINGTON, Joe Biden’s, Biden, Sen, Susan Collins, , Collins, Jeanne Shaheen, Democrat Mark Warner of Virginia, Republican Marco Rubio, Antony Blinken, Blinken, Kamala Harris ’, William Burns, Rubio, ” Rubio Organizations: American, Neurological, White, Senate Intelligence, Democrat, Republican, NBC News, Havana Syndrome, CIA, State Department, U.S, NATO, National Academies of Science Locations: U.S, Havana, HAVANA, Maine, Republican Marco Rubio of Florida, Cuba, China, Vietnam, India, Western Europe, Austria, Germany, Russia
(Adds details on Eurobond sale)ABUJA, Sept 21 (Reuters) - Nigeria raised $4 billion via a Eurobond issue on Tuesday after investors demanded more than four times the amount on offer, the Debt Management Office (DMO) said. The DMO said the West African country attracted demand of $12.2 billion for the notes, which enabled it to raise the value of its initial offering by $1 billion. It raised $1.25 billion for seven years at a yield of 6.125% and sold a 12-year bond at 7.375% to fetch $1.5 billion. The Eurobonds are part of a government plan to raise 2.343 trillion naira ($5.71 billion) in external financing to help fund spending in 2021 and to partly finance the 5.6 trillion naira deficit. Nigeria picked JPMorgan, Citigroup, Standard Chartered and Goldman Sachs as international bookrunners, and local firm Chapel Hill Denham on the forthcoming Eurobond issue.
Persons: DMO, Goldman Sachs, Hill Denham, Chijioke Ohuocha, Catherine Evans, Edmund Blair Organizations: Debt Management, Reuters, The, London, Stock Exchanges, JPMorgan, Citigroup, Standard Chartered Locations: ABUJA, Nigeria, West, tranches, Europe, America, Asia
From 2001 through April, about 66,000 Afghan military and police members were killed in Afghanistan, alongside 2,448 U.S. service members. The abrupt U.S. exit from Afghanistan likely forced the Afghan military to fight under unfamiliar conditions, ultimately leading to collapse — and the humanitarian catastrophe we are now witnessing. Our military allies in both countries simply do not know how to fight effectively on more conventional battlefields without U.S. support. If we are willing to maintain huge troop numbers to support our allies in Europe and East Asia, then why not even a small footprint in the Middle East? Indeed, if we are willing to maintain huge troop numbers to support our allies in Europe and East Asia, then why not even a small footprint in the Middle East?
Persons: Joe Biden, ” Biden, Barack Obama, Donald Trump, Trump, quagmire, , “ Biden, Biden, Bashar al, Assad, Organizations: United Nations General Assembly, Afghan, U.S ., Islamic State, ISIS, Iraqi, Kurdistan Regional Government, Global Coalition, United, Syrian Democratic Forces, Coalition, NATO, East Locations: Afghanistan, , United States, U.S, Germany, Japan, South Korea, Russia, China, Iraq, United, Iraqi, Syria, Kobani, Turkish, Kabul, Europe, East Asia, North Korea, East
MSCI’s gauge of stocks across the globe edged up 0.13%, following Monday’s biggest percentage drop in two months. The Cboe Volatility Index fell 1.35 points to 24.36 after hitting a four-month high a day earlier. In currency trading, the dollar index fell 0.012%, with the euro down 0.03% to $1.1722. Benchmark 10-year U.S. Treasury notes last fell 5/32 in price to yield 1.3243%, from 1.309% late on Monday. U.S. crude settled up 0.4% at $70.56 per barrel and Brent settled at $74.36, up 0.6% on the day.
Persons: Wall, DAX, China Evergrande, Price, , Chuck Carlson, , Germany’s DAX, Justin Trudeau’s, Edward Moya, Brent Organizations: China, Horizon Investment, Dow Jones, Nasdaq, Federal, Treasury Locations: U.S, Britain, Japan, Europe, Evergrande, Beijing, Hammond , Indiana, Central, United States, New York
The group of investors supporting the company is led by Italian asset manager Banca Generali, which put 3 million euros into it. Rosberg, together with Italy soccer player Giorgio Chiellini, LVMH executive Andrea Guerra and other Italian investors will contribute small sums, the company said. This is our shared vision, to make the world greener one tree at a time,” said Treedom CEO Federico Garcea. Through the Treedom platform individuals and companies pay to plant a tree in a chosen location and can follow it as it grows. Treedom expects to boost its revenue to 15 million euros this year from 9.2 million in 2020, the CEO told Reuters.
Persons: Nico Rosberg, Agnelli, Rosberg, Giorgio Chiellini, Andrea Guerra, Nico, , Federico Garcea, ” Garcea, Treedom Organizations: United Nations, Banca Generali, Reuters Locations: FLORENCE, Italy’s, Florence, Paris, Amsterdam, Glasgow, Italy, Italian, Europe, New York
MSCI’s gauge of stocks across the globe gained 0.19%, following Monday’s biggest percentage drop in two months. European indexes rose solidly while Wall Street vacillated in early trade. The pan-European STOXX 600 index rose 0.74%, with Germany’s DAX up 1.3%. Canada’s main stock index gained as Prime Minister Justin Trudeau’s limited victory in the federal election raised hopes that his government would keep the stimulus taps open. In currencies, the dollar index rose 0.025%, with the euro down 0.03% at $1.1721.
Persons: Germany’s DAX, Price, , David Joy, Justin Trudeau’s, Stephen Miller, Brent Organizations: U.S ., China, Financial, Dow Jones, Nasdaq, Federal, Treasury Locations: U.S, Europe, Britain, Japan, Evergrande, Beijing, Boston, Central, United States, .
Hungary's central bank raised its base rate by 15 basis points to 1.65%, delivering its fourth rate hike in a row to curb rising inflation as the economy rebounds strongly from the effects of the coronavirus pandemic. The slower tightening pace from Hungary - following three previous rate moves of 30 basis points - comes as the Czech central bank looks certain to accelerate its rate hike cycle. Czech central banker Tomas Holub told Reuters in an interview published on Tuesday that he would likely support a 50 basis point rate increase at the next policy meeting. That added to signals that the central bank could deliver its biggest hike since 1997 next week, after two earlier standard 25 basis point moves. The Polish central bank, unlike peers in the region, has been hesitant to begin raising interest rates, wary of damaging an economic recovery even as inflation surges to a two-decade high.
Persons: Tomas Holub, Poland's zloty, Jason Hovet, Gergely, Raissa Kasolowsky, Steve Orlofsky Organizations: European Union, Reuters, CEE, PX, BUX Budapest, CRBEX, BELEX, nk Czech Locations: Hungary, PRAGUE, Hungarian, Czech, Europe, Polish, PX Prague, Warsaw, CRBEX Zagreb, BELEX Belgrade, Sofia, Czech Republic, Prague, Budapest
The world's biggest music label, which represents musicians and song catalogues from Billie Eilish to The Rolling Stones and Bob Dylan, saw its market value leap to 47 billion euros ($55 billion) in Europe's largest listing of the year. The company was spun off by France's Vivendi (VIV.PA), which handed a 60% stake in Universal to its shareholders. 1/2 The logo of Universal Music Group (UMG) is seen at a building in Zurich, Switzerland July 20, 2021. read moreUniversal has increased sales for six years in a row, with core earnings of 1.36 billion euros in 2020 on revenue of 7.43 billion euros. Before Universal, Amsterdam had attracted a record 14 IPOs this year.
Persons: Billie Eilish, Bob Dylan, William Ackman, China's Tencent, Vincent Bollore, Lucian Grainge, Ackman's Pershing, Matti Littunen, Bernstein, Littunen, Ackman, Arnd, BIEBER, Justin Bieber, Grainge, Toby Sterling, Sudip Kar, Gwenaelle Barzic, Mathieu Rosemain, Pamela Barbaglia, Ingrid Melander, Sarah White, Mark Potter, Pravin Organizations: France's Vivendi, Universal, Vivendi, HK, Ackman's, Warner Music, Sony Music, Pershing, Universal Music, REUTERS, YouTube, Spotify, Reuters, Paris Match, Euronext, European Union, BNP, Thomson Locations: Amsterdam, AMSTERDAM, Europe's, Hilversum, Netherlands, Santa Monica , California, Zurich, Switzerland, Lagardere, Paris, London
REUTERS/Jeenah MoonCHICAGO/LONDON, Sept 21 (Reuters) - America's reopening to international air travelers can't come soon enough for U.S. and European airlines which have sorely missed the lucrative transatlantic market. "The transatlantic market is a key profit generator for the main European legacy airline groups," said Bernstein analyst Daniel Roeska. LEAN WINTERThe lifting of restrictions coincides with the onset of winter season, historically a lean period for international travel, when many airlines tend to make a loss. In the United States, though, airlines fear the travel recovery could by blunted by the Delta variant of the coronavirus. In early September, U.S. airline passenger volumes for international travel were just 44% of the pre-pandemic levels, according to data from trade body Airlines for America.
Persons: Biden, IAG, Bernstein, Daniel Roeska, Colin Scarola, Savanthi, Raymond James, David Shepardson, David Gregorio, Chris Sanders, Pravin Organizations: JetBlue, JFK International Airport, REUTERS, British Airways, Lufthansa, Air France, KLM, U.S, American Airlines, United Airlines, Delta Air Lines, Transatlantic, White House, Air, Virgin Atlantic, CFRA Research, Airlines for America, Thomson Locations: London, Queens, New York City , New York, U.S, CHICAGO, LONDON, United States, Air France, New York, Orlando, Las Vegas, Miami, Europe, Washington
EasyJet to Ryanair boss: focus on your own airline
  + stars: | 2021-09-21 | by ( ) www.reuters.com   time to read: +2 min
EasyJet CEO Johan Lundgren gestures as he talks to media at Gatwick Airport, Britain, June 15, 2020. REUTERS/Peter Cziborra/File PhotoTOULOUSE, France, Sept 21 (Reuters) - The head of budget airline easyJet (EZJ.L) has told the boss of Ryanair (RYA.I) to focus on running his own airline after he questioned the British carrier's independence. "(It is) complete nonsense," easyJet CEO Johan Lundgren told Reuters in an interview. "I would urge anyone who runs an airline to focus on their own business rather than speculate about others, (where) they have no idea about what's going on." Tensions had flared days after easyJet said it had rejected a takeover approach from Wizz Air that would have created a low-cost airline to rival Ryanair, opting instead to raise $1.7 billion from shareholders.
Persons: Johan Lundgren, Peter Cziborra, Michael O'Leary, easyJet, Lundgren, Tim Hepher, Louise Heavens, Mark Potter Organizations: Gatwick Airport, REUTERS, Ryanair, Wizz, Reuters, Thomson Locations: Britain, TOULOUSE, France, Europe
FILE PHOTO: A Ryanair Boeing 737-800 aircraft approaches Paris-Beauvais airport in Tille, northern France, September 27, 2018. REUTERS/Christian HartmannLONDON (Reuters) - Ryanair on Tuesday warned that Boeing risked forgoing the main driver of growth in Europe, low-cost airlines, to rival Airbus unless it reversed a recent price increase. Europe’s largest low cost carrier earlier this month abruptly ended talks with the U.S. planemaker over a new order of the larger 737 MAX 10 jets, worth tens of billions of dollars, due to differences over price. Ryanair Group Chief Executive Michael O’Leary said that “Europe’s low cost carriers will drive demand for Airbus A320 family aircraft and not Boeing” unless it cuts its prices and does a deal with Ryanair. He made the comments in a letter responding to a Reuters article that quoted a Boeing executive forecasting low-cost carriers would drive growth.
Persons: Christian Hartmann, Michael O’Leary Organizations: Ryanair Boeing, REUTERS, Christian, Christian Hartmann LONDON, Ryanair, Boeing, Airbus, U.S, Reuters Locations: Paris, Beauvais, Tille, France, Europe
The speech will be Biden’s first as president at the meeting, which will look much different from past gatherings with many world leaders opting to deliver their remarks virtually. “America is back,” Biden said during a meeting with the U.N. secretary general Monday. Among the challenges Biden plans to address are the Covid pandemic, climate change, trade and economics, investments in clean infrastructure, counterterrorism, and “vigorous competition with great powers, but not a new Cold War,” the official said. This year’s gathering of world leaders will be largely scaled down because of the pandemic. The UN has said that 83 leaders will make their remarks in person with the rest of the global leaders’ making pre-recorded remarks.
Persons: Joe Biden, Biden, Scott Morrison, Boris Johnson, ” Biden, , we’ve, , America's, Emanuel Macron, Jen Psaki, Still, Organizations: WASHINGTON, United Nations General Assembly, Australian, White, United Nations, NATO, French, World Health Organization, WHO, The, U.S, Trump, Covid, UN Locations: Afghanistan, New York, U.S, France, Australia, United Kingdom, United States, The U.S, Europe
LONDON (Reuters) - Foreign central banks and reserve managers are showing growing interest in new debt issued by the European Union and other pan-European bodies, in a positive sign for the euro’s international role, speakers told a virtual financial conference on Tuesday. REUTERS/Dado RuvicThe EU is selling bonds to finance a fund worth up to 800 billion euros ($939 billion) to aid the post-COVID 19 recovery. But bankers and other speakers at the Official Monetary and Financial Institutions Forum (OMFIF) said EU debt sales were drawing strong demand from central banks and reserve managers, particularly in Asia. Kalin Anev Janse, chief financial officer and member of the management board of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF), said bonds issued by his institutions were also seeing strong foreign demand. Anev Janse estimated that the value of European safe assets issued would reach 2 trillion euros in coming years, a move he said was “appealing to reserve managers globally”.
Persons: Dado Ruvic, , we’ve, ” Georges Elhedery, Niall Bohan, Kalin Anev Janse, , Anev, Pablo de Ramon, Laca Clausen, Christian Kopf Organizations: European Union, REUTERS, U.S, Monetary, Financial, HSBC, Spanish Treasury, Union Investment Locations: Foreign, Europe, Asia, Spanish
FILE PHOTO: A worker in a protective suit sweeps the floor inside the Envision battery manufacturing plant at Nissan's Sunderland factory, Britain, July 1, 2021. REUTERS/Phil NobleLONDON (Reuters) - A record share of British manufacturers reported rising new orders this month but global supply chain problems and labour shortages held back growth in output, a survey showed on Tuesday. Still, the picture was weaker for export orders - which grew at their fastest since March 2019 - and the survey’s gauge of output growth fell to its lowest level since April. “Today’s survey highlights how amidst a variety of supply challenges, companies are beginning to struggle to meet high demand,” CBI deputy chief economist Anna Leach said. The record prices have strained the British energy sector, destroying the business model of smaller energy traders and sending shockwaves through the chemical and fertiliser markets, leading to a shortage of carbon dioxide used in food processing.
Persons: Phil Noble LONDON, , Anna Leach, Leach Organizations: Nissan's Sunderland, REUTERS, British, CBI Locations: Nissan's, Britain, Europe, Asia, Russia
U.S. Lifts Travel Ban Just as Europe Takes Flight Again
  + stars: | 2021-09-21 | by ( Benjamin Katz | ) www.wsj.com   time to read: 1 min
LONDON—The U.S. is opening its borders to foreign air travelers just as Europe is starting to fly again, promising a fresh boost for an industry among the hardest hit by Covid-19. Washington on Monday said it would in November start welcoming many foreigners that had been shut out of the country for more than a year. The Trump administration closed off air travel for noncitizens from places including Britain and the European Union at the start of the pandemic early last year. European leaders have called for the Biden administration to lift that ban.
Persons: Trump, Biden Organizations: Washington, European Union Locations: U.S, Europe, Britain
ECB policymakers acknowledge growing inflation risk
  + stars: | 2021-09-21 | by ( Reuters Staff | ) www.reuters.com   time to read: +2 min
FRANKFURT (Reuters) - European Central Bank policymakers still see the recent inflation surge as temporary but a growing number appear to be acknowledging the risk that price growth may exceed their relatively benign projections. FILE PHOTO: The headquarters of the European Central Bank (ECB) are pictured in Frankfurt, Germany, July 8, 2020. A surge in commodity prices, supply bottlenecks and growing signs of labour shortages are however challenging this “hump-shaped” profile for consumer price growth. And that is something that we should avoid.”He also warned that commodity prices and production bottlenecks risk creating “second round” effects in inflation. “We’ve accepted there’s an upside risk regarding inflation,” Stournaras told Politico in an interview.
Persons: Ralph Orlowski, Luis de Guindos, de Guindos, Yannis Stournaras, “ We’ve, ” Stournaras, Organizations: Central Bank, European Central Bank, REUTERS, ECB, Financial Times, Politico Locations: FRANKFURT, Frankfurt, Germany, Europe
The logo of Universal Music Group (UMG) is seen at a building in Zurich, Switzerland July 20, 2021. REUTERS/Arnd Wiegmann/File PhotoAMSTERDAM, Sept 21 (Reuters) - Universal Music Group's (UMG.AS) shares leapt more than a third in their stock market debut on Tuesday as investors bet a boom in music streaming still has a long way to run. read moreHere are facts about Universal and its flotation:FROM THE BEATLES TO BILLIE EILISHBy revenue, Universal Music Group or UMG is the largest of the "big three" record labels. Major competitors include Sony Music, part of Sony (6758.T), and Warner Music Group (WMG.O). REVENUES AND COVID-19 IMPACTUniversal reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 1.49 billion euros on sales of 7.43 billion euros in 2020.
Persons: Arnd, Billie Eilish, Bob Dylan, EMI's, Pink Floyd, Vincent Bollore, China's Tencent, William Ackman's, Tencent, Universal, Toby Sterling, Sarah White, Keith Weir, Mark Potter Organizations: Universal Music, REUTERS, Universal, Sony Music, Sony, Warner Music Group, Decca Records, Spotify, YouTube, Vivendi, HK, William Ackman's Pershing Square Holdings, Thomson Locations: Zurich, Switzerland, British, U.S, South Korea, Brazil, India, Russia, Amsterdam, Europe's
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