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Exclusive: German battery group BMZ plans September IPO, sources say
  + stars: | 2021-06-14 | by ( Arno Schuetze | ) www.reuters.com sentiment -0.89   time to read: +2 min
FRANKFURT (Reuters) - German battery group BMZ is preparing for a Frankfurt stock market listing as early as September with a targeted valuation of about 2 billion euros ($2.4 billion), sources close to the matter told Reuters. BMZ is working with Citi, JP Morgan and Berenberg on the initial public offering (IPO), which will sell shares worth about 500 million euros, the sources said. In 2020 the company posted revenues of about 400 million euros and expects significant growth this year, catching up on some projects that were delayed by the COVID-19 pandemic. BMZ, based in Karlstein near Frankfurt, takes 300 million battery cells each year to assemble battery systems for industrial clients such as forklift maker Kion, medical device maker Philips and gardening tools maker Stihl. Europe’s largest battery system maker was founded by entrepreneur Sven Bauer in 1994 and now employs about 3,000 staff at seven sites in Europe, the United States and Asia.
Persons: JP Morgan, Berenberg, Akasol, Sven Bauer Organizations: Reuters, Citi, Philips Locations: FRANKFURT, Frankfurt, Karlstein, Europe, United States, Asia
(Reuters) -European shares hit a record high on Monday as investors bet on global central banks sticking to an accommodative stance on monetary policy even as the post-pandemic economic recovery gathers pace. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 11, 2021. REUTERS/StaffThe pan-European STOXX 600 was up 0.3% after ending Friday with its fourth consecutive weekly gain. “If central banks start to lay out a path that involves a withdrawal of stimulus, markets could get spooked. British outsourcer Serco Group jumped 3.8% after raising its 2021 profit outlook on expectations of stronger demand for its COVID-19 services.
Persons: Germany’s DAX, , Michael Hewson, Christine Lagarde Organizations: Reuters, REUTERS, Staff, European Central Bank, U.S, , CMC, Serco, Philips Locations: Frankfurt, Germany, U.S . Federal
German eyewear retailer plans Frankfurt IPO
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +2 min
The company sells glasses, shades and contact lenses online, working with local opticians for eyesight tests. In 2020, it reported gross profit of 81 million euros on sales of 164 million euros. Mister Spex said it plans to use the proceeds to accelerate its growth strategy, expand internationally and repay a bridge loan facility, as well as invest in technology. Mister Spex is owned by Graber and co-chief executive Mirko Caspar and investors, including Goldman Sachs, DN Capital, Scottish Equity Partners and XAnge. Earlier this year, it attracted 15 million euros in new money on top of a 65 million euro fundraising it closed in autumn of 2020.
Persons: Mister Spex, , Dirk Graber, Mirko Caspar, Goldman Sachs, Jefferies, Bryan Garnier, Commerzbank, Quirin Privatbank, Caroline Copley, Louise Heavens Organizations: Graber, DN Capital, Scottish Equity Partners, Barclays, Berenberg Locations: Frankfurt, Q3 BERLIN, Berlin
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 11, 2021. REUTERS/StaffWorld stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week. S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday's above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Goldman Sachs, John Woolfitt, Treasuries, Akira Takei, Paul Donovan, Brexit, Donovan, Bitcoin Organizations: REUTERS, Staff, U.S . Federal, Atlantic Capital, Asset Management, UBS Global Wealth Management, Markets, Japan's Nikkei, European Central Bank, Elon Musk, Thomson Locations: Frankfurt, Germany, U.S, COVID, China, London, Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
German eyewear IPO flaunts digital vision
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -0.53   time to read: +1 min
The glasses retailer, which operates in 10 European countries, said on Monday it’s looking to list in Frankfurt later this year. The German group’s revenue grew 18% in 2020 to 164 million euros, bucking a 13% sector slide in Europe. Virtual mirrors and digital features that allow users to fit frames and prescription lenses remotely helped boost sales 27% in the first quarter. Assuming Mister Spex can boost sales by about 25% a year, as it predicts, revenue would surpass 250 million euros in 2022. If valued at sector leader EssilorLuxottica’s (ESLX.PA) multiple of 3.7 times sales, it would command an enterprise value of nearly 1 billion euros.
Persons: Kai Pfaffenbach Mister Spex, EssilorLuxottica’s, Lisa Jucca Organizations: REUTERS, Philips Locations: Hanau, Germany, Frankfurt, Europe, Italian, Paris
Rising shipping costs could make Starbucks drinks, fireworks, and lumber harder to come by. The impact of this on product prices could be underestimated, an economist told Bloomberg. Some companies are already hiking up the prices of goods like burritos and groceries. People might not be aware of the full impact the current shipping crisis will have on higher prices for consumer goods, a leading economist told Bloomberg. But Rajanayagam warned that the higher shipping costs could stay post-pandemic, and that producers could become more willing to pass these higher costs on to consumers.
Persons: Volker Wieland, Rachel Premack, Jordi Espin, Shanella Rajanayagam, Rajanayagam, Insider's Kate Duffy Organizations: Bloomberg, Frankfurt's Goethe University, Container, Authorities, Costco, HSBC Locations: Frankfurt, Drewry, Guangdong, South China, Europe, Peru, they're
Germany prepares to set up hydrogen accord with Australia
  + stars: | 2021-06-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: +2 min
FRANKFURT (Reuters) - Germany on Sunday said it has taken steps towards a bilateral alliance on hydrogen production and trade with Australia to try and facilitate a renewable energy-based hydrogen supply chain between the countries. FILE PHOTO: German Economy Minister Peter Altmaier addresses a news conference in Berlin, Germany, April 27, 2021. John Macdougall/Pool via REUTERS/File PhotoEconomy minister Peter Altmaier and education and research minister Anja Karliczek signed a letter of intent to set up a “Germany Australia Hydrogen Accord” with their Australian counterpart, Angus Taylor, the economy ministry said in a press release. The two countries can take advantage of Australia’s limitless solar resources and employing German electrolysis technology, said Altmaier. Big energy firms including German utility RWE and Uniper have started looking into possible new trade routes for hydrogen, a cleaner alternative to fossil fuels from Australia and other places.
Persons: Peter Altmaier, John Macdougall, Anja Karliczek, Angus Taylor, Taylor, Karliczek, Uniper, feelers Organizations: Germany Australia Hydrogen, Australian, Reuters Locations: FRANKFURT, Germany, Australia, Berlin, Germany Australia, Union, Saudi Arabia, Canada, Chile, Morocco
FILE PHOTO: The logo of Volkswagen's truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File PhotoTraton, which has a market capitalisation of about 13.7 billion euros, is contemplating raising its capital by about 10% in a deal that could happen as soon as after the summer break, the people said. Traton financed the deal with debt, mainly relying on a loan it received from Volkswagen. Jefferies analysts last month wrote that Traton sees the “100% debt funded Navistar acquisition as suboptimal given risk to the credit rating, suggesting a potential 1.2-1.4 billion euros of equity raise as optimal”. Navistar also holds a small stake in self-driving truck startup TuSimple, which listed in spring and which has seen its valuation jump to 10 billion euros since.
Persons: Fabian Bimmer, Traton, Jefferies, Navistar Organizations: U.S, Volkswagen, Bus AG, REUTERS, MAN, Scania Locations: FRANKFURT, Hanover, Germany, Navistar, North America
Amazon raises minimum pay in Germany to 12 euros per hour
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Ralph Orlowski/File PhotoFRANKFURT (Reuters) - Amazon will guarantee an entry-level wage at its German warehouses of 12 euros ($15) an hour, the company said on Friday in the face of a long-running battle with a top labour union. Germany is Amazon’s biggest market after the United States, and the Verdi union has been organising strikes at Amazon in the country since 2013 to protest low pay and poor conditions. The pay increase is effective from July and compares with entry-level pay as low as 11.30 euros per hour for some locations, though pay exceeded 12 euros in other locations. Amazon’s wages exceed Germany’s current minimum wage of 9.50 euros per hour. A spokesperson for Amazon in Germany said all employees would be getting a raise, and Amazon said in a statement that further increases were scheduled for the future.
Persons: Ralph Orlowski, Verdi Organizations: REUTERS, FRANKFURT, Amazon Locations: Mannheim, Germany, United States
Euro zone fiscal policy must keep large role for years: ECB's Knot
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.94   time to read: +1 min
FILE PHOTO: ECB board member Klaas Knot appears at a Dutch parliamentary hearing in The Hague, Netherlands September 23, 2019 REUTERS/Eva PlevierFRANKFURT (Reuters) - Europe needs new budget rules so government spending can maintain an oversized role for years to come while monetary policy remains constrained, European Central Bank policymaker Klaas Knot said on Friday. Instead simply of reinstating the rules, Knot argued for an overhaul of the Stability and Growth Pact as central banks have limited scope for manoeuvre and fiscal policy is more powerful when rates are at or near their effective lower limit. “As the current low interest rate environment is likely to persist, we need a structurally larger role for fiscal policy in macro-economic stabilization for the foreseeable future,” the head of the Dutch central bank said in a speech. “Fiscal flexibility is needed and has to be an integral feature of the framework, rather than an all-or-nothing button which may, or may not, be pressed in an emergency,” Knot added. The new framework needs to improve coordination of national fiscal policies within euro zone, much like the bloc is doing with the New Generation EU Fund, and must have flexibility beyond automatic stabilizers and emergency measures.
Persons: Klaas, Eva Plevier FRANKFURT, Klaas Knot Organizations: ECB, European Central Bank, New, EU Fund Locations: The Hague, Netherlands, Europe, Dutch
More sustainable euro zone inflation coming: ECB's Knot
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: +2 min
FRANKFURT (Reuters) -Copious budget spending in the euro zone is finally generating a sustainable rise in inflation but more flexible fiscal rules will be needed for years as monetary policy remains constrained, European Central Bank policymaker Klaas Knot said on Friday. “Now we are in a better position to see a sustainable increase in inflationary pressures,” Knot said in a university lecture. Instead of reverting to old budget rules that could once again overburden the ECB after the pandemic, Knot argued for an overhaul of the Stability and Growth Pact to give governments more flexibility to spend outside crises. “Fiscal flexibility is needed and has to be an integral feature of the framework, rather than an all-or-nothing button which may, or may not, be pressed in an emergency,” Knot added. “We should not be left thinking that this huge stack of public debt that the European Central Bank currently has on its balance sheet will sit there forever,” he added.
Persons: Klaas Knot, Klaas, Eva Plevier, there’s, Organizations: European Central Bank, ECB, New, EU Fund Locations: FRANKFURT, The Hague, Netherlands, Dutch
German fashion e-tailer About You seen listing at 23 eur/share - bookrunner
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
BERLIN, June 11 (Reuters) - German fashion e-tailer About You is expected to price its stock market listing at 23 euros per share, in the middle of its marketing range, the bookrunners organising the deal said. About You will sell new shares worth 600 million euros ($731 million) via a private placement as part of its flotation, and invest proceeds in international expansion and in its business-to-business (B2B) technology platform. The company, which operates in 23 European markets, competes with Zalando in consumer categories while its B2B platform pits it against Shopify, SAP and Salesforce. Its free float is expected to be between 21.2% and 21.7% after the listing. Deutsche Bank, Goldman Sachs, and J.P. Morgan are acting as joint global coordinators and joint bookrunners, with Numis Securities, Société Générale and UBS Investment Bank also acting as joint bookrunners.
Persons: Otto, Anders Holch Povlson, Goldman Sachs, Morgan, Société Générale Organizations: Shopify, SAP, Deutsche Bank, Numis Securities, Société, UBS Investment Bank Locations: BERLIN, Hamburg, Frankfurt
FILE PHOTO: Chairman of the board Paul Achleitner delivers his speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. Deutsche Bank declined to comment. In particular, they have been concerned by lapses in Deutsche’s money laundering controls - a problem that extends back throughout Achleitner’s tenure. Furthermore, accepting the position at Deutsche Bank would require him to resign from a job that paid him 6 million euros last year - a multiple of Achleitner’s earnings. Graphic - Bumpy ride: Deutsche's share price over the past decade:Regulators have struggled for years to rein in Deutsche Bank following numerous scandals and governance issues.
Persons: Paul Achleitner, Kai Pfaffenbach, Andrea Enria, BaFin, Theodor Weimer, Weimer, Norbert Winkeljohann, Frank Witter, Winkeljohann, Witter, Achleitner, , Vanda Rothacker, Christian Organizations: European Central Bank, Deutsche Bank, REUTERS, ECB, Deutsche, Regulators, Bayer, Union Investment, U.S . Department of Justice, Danske Bank, Reuters Locations: FRANKFURT, Frankfurt, Germany, Russia
A logo of Signa is pictured on a building nearby the Karstadt sport department store, in Berlin, Germany July 30, 2020. Wiggle's owner, private equity firm Bridgepoint, will become an investor in Signa Sports United as part of the deal, the source added. Signa Sports United runs firms like bicycle online shops Fahrrad.de or Bikester, tennis platforms Tennis-Point or Tennis Express, outdoor gear retailers like Campz and team sport shops Outfitter and Stylefile. The company operates more than 80 Web shops in 17 countries, reaching over 7 million online customers a year. After the Yucaipa deal, which is being organised by Citi (C.N) and Jefferies (JEF.N), property investor Rene Benko's Signa Holding will own about 50% of Signa Sports United.
Persons: Fabrizio Bensch, Rene Benko, Signa, Yucaipa, Bridgepoint, Rene Benko's Signa Organizations: REUTERS, Signa Sports United, New York Stock Exchange, Signa Sports, Sports United, Aeon Co, Central Group, Tennis Express, Citi, Jefferies, Thomson Locations: Berlin, Germany, Austrian, Britain, Frankfurt
LONDON/SHANGHAI (Reuters) - Shares gained on Friday and bond yields fell from the United States to Europe as investors shrugged off rising U.S. consumer prices, even as fears of longer-term inflation lingered. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 10, 2021. London shares gained 0.6%, helped by a 1% gain for the mining sector, while Paris climbed 0.4%. The rise in the U.S. consumer price index reflected short-term adjustments related to the reopening of the economy, some economists say. “We are going to get a further boost from the consumption side, and we therefore expect bond yields moving higher.”The U.S. dollar fell as yields dipped.
Persons: , Kiran Ganesh, , Jeremy Gatto Organizations: REUTERS, Staff, London, European Central Bank, Wall, Federal, . Labor Department, Treasury, UBS Global Wealth Management, , Investors, U.S Locations: SHANGHAI, United States, Europe, Frankfurt, Germany, Paris, U.S, London, Asia, Pacific, Japan, coronavirus, Unigestion
Chairman of the board Paul Achleitner delivers his speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. Deutsche Bank declined to comment. In particular, they have been concerned by lapses in Deutsche's money laundering controls - a problem that extends back throughout Achleitner's tenure. Furthermore, accepting the position at Deutsche Bank would require him to resign from a job that paid him 6 million euros last year - a multiple of Achleitner's earnings. Regulators have struggled for years to rein in Deutsche Bank following numerous scandals and governance issues.
Persons: Paul Achleitner, Kai Pfaffenbach, Achleitner, Andrea Enria, BaFin, Theodor Weimer, Weimer, Norbert Winkeljohann, Frank Witter, Winkeljohann, Witter, Vanda Rothacker, Christian Organizations: Deutsche Bank, REUTERS, Central Bank, ECB, Deutsche, Regulators, Bayer, Union Investment, U.S . Department of Justice, Danske Bank, Reuters, Thomson Locations: Frankfurt, Germany, Russia
Indonesia, South Africa, Mexico back G7 global tax reform proposal
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.87   time to read: +2 min
South African Finance Minister Tito Mboweni reacts as he arrives to deliver his budget speech at the parliament in Cape Town, South Africa, February 26, 2020. Reuters/Sumaya HishamThe Indonesian, South African and Mexican finance ministers expressed support on Thursday for an overhaul of international tax rules to make companies pay their fair share in a more globalised and digitalised business world. G7 finance ministers agreed on Saturday on a system to make multinational companies pay more tax in countries where they operate, alongside a minimum global corporate tax rate of at least 15%. "Together, we can ensure that global capitalism is compatible with fair tax systems and that governments are able to tax multinational corporations," they added. G20 member China is among countries that have voiced objections to a global minimum corporate tax rate of at least 15%, people familiar with the negotiations said.
Persons: South African Finance Minister Tito Mboweni, Sumaya Hisham The, Janet Yellen, Olaf Scholz, Indonesia's, Mulyani, Tito Mboweni, Mexico's Arturo Herrera Gutierrez Organizations: South African Finance Minister, Reuters, Sumaya Hisham The Indonesian, U.S, Treasury, German Finance, Group, Washington Post, Frankfurter Allgemeine Zeitung, Seven, Thomson Locations: Cape Town , South Africa, African, Mexican, Mulyani Indrawati, South Africa, China
ECB maintains elevated pace of bond purchases
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, December 8, 2016. “The Governing Council expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year,” the ECB said in a statement. The ECB has bought around 80 billion euros worth of debt per month under its Pandemic Emergency Purchase Programme this quarter, up from levels early this year but below their peak at the start of the crisis. Maintaining its long-standing guidance, the ECB said that its 1.85 trillion Pandemic Emergency Purchase Programme (PEPP) would last until March 2022 and it reserved the right to buy less than this quota or increase it as needed to “maintain favourable financing conditions”. Attention now turns to ECB chief Christine Lagarde’s 1230 GMT news conference, during which she will also unveil fresh economic projections.
Persons: Ralph Orlowski FRANKFURT, Christine Lagarde’s Organizations: European Central Bank, REUTERS, ECB Locations: Frankfurt, Germany
ECB Set to Fall Behind Fed in Phasing Out Stimulus
  + stars: | 2021-06-10 | by ( Tom Fairless | ) www.wsj.com sentiment -0.99   time to read: +1 min
FRANKFURT—The European Central Bank said it would keep its aggressive monetary stimulus in place despite mounting evidence of a vigorous economic recovery and rising inflation in the eurozone as the Covid-19 pandemic recedes. The ECB’s move suggests it will lag behind the Federal Reserve in phasing out the extraordinary stimulus policies it rolled out last year. ECB President Christine Lagarde faces a tricky task at Thursday’s news conference, starting at 8:30 a.m. ET, to explain why the eurozone still needs such aggressive monetary stimulus when economic activity is accelerating and its inflation rate has risen above the ECB’s target of just below 2%. She is expected to stress Europe’s incomplete path to economic recovery, even as she unveils more upbeat forecasts for eurozone growth and inflation.
Persons: Christine Lagarde Organizations: FRANKFURT, European Central Bank, Federal Reserve, ECB Locations: U.S
Deutsche Bank sees 300 million euro hit from recent court ruling
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File PhotoDeutsche Bank (DBKGn.DE) expects to take a 300 million euro ($365 million) hit from a recent court ruling that favours consumers over banking fees, the lender's finance chief said on Thursday. The bank foresees a 100 million euro provision in the current quarter and temporary revenue declines of 100 million euros in both the second and third quarters, CFO James von Moltke said at an online conference. The case overturned about 45 years of accepted practice in the market, von Moltke said. Analysts had been expecting Deutsche Bank to post a profit of around 340 million euros in the second quarter, according to Refinitiv data.
Persons: Ralph Orlowski, James von Moltke, Germany's, von Moltke, Banks, BaFin Organizations: Germany's Deutsche Bank, REUTERS, Deutsche Bank, Thomson Locations: Frankfurt, Germany
Auto, travel firms weigh on European shares ahead of ECB meeting
  + stars: | 2021-06-10 | by ( Sruthi Shankar | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -European stocks slipped on Thursday as automakers and travel stocks fell after a recent run of gains, while investors counted on the European Central Bank to maintain an accommodative policy stance at a meeting later in the day. Automakers fell for the third straight day, while travel and leisure stocks dropped 1.1% following recent gains for the sectors on optimism about economic re-openings. Euro zone stocks fell 0.2% ahead of the ECB’s policy decision and its projections for euro zone economic growth and inflation. The meeting comes as recent data from across the globe point to building inflationary pressures, particularly in commodities, as economies recover from long COVID-19 lockdowns. Euro zone inflation last month exceeded the central bank’s target of just under 2%, a mark it has undershot for most of the last decade.
Persons: Christine Lagarde’s, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, Volkswagen, RBC Capital Markets, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
(Reuters) -European stocks inched to fresh peaks on Thursday as the European Central Bank raised its recovery outlook and promised to keep ample stimulus flowing, while travel stocks fell after a recent run of gains. REUTERS/StaffThe pan-European STOXX 600 index was up just 0.1%, but at a fresh record high of 455.76 points, while the narrower index of euro zone stocks fell 0.1%. The central bank now sees 2021 euro zone economic growth at 4.6%, above the 4% projected in March. “The ECB’s main mission today was to avoid any taper talk and not harm the still tentative economic recovery or allow bond yields to surge prematurely,” said Carsten Brzeski, global head of macro at ING. “It accomplished its mission: the ECB seems to have bought some time without starting the taper talk.”Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%.
Persons: Christine Lagarde, , Carsten Brzeski, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, ING, Federal Reserve, Volkswagen, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
LONDON/SYDNEY (Reuters) - Global shares hovered near a record high and the dollar also held steady on Thursday, eyeing U.S. inflation data for any sign the Federal Reserve could start tapering its massive stimulus. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2021. Yet April’s surprisingly strong U.S. inflation print spooked some, leading to a cautious run in to the May numbers later on Thursday in case of another upside surprise. Ahead of the U.S. CPI data, analysts polled by Reuters said they expected a rise of 0.4% in May, taking the annual pace to 3.4%. Activity was muted in the currency market with the dollar flat against a basket of major currencies.
Persons: April’s, , That’s, , Jim Reid Organizations: Global, eyeing, Federal Reserve, REUTERS, Staff, Deutsche Bank, Morgan, Treasury, U.S, CPI, Reuters, ANZ, Brent Locations: SYDNEY, eyeing U.S, Frankfurt, Germany, COVID, Europe, Asia, Pacific, Japan, U.S, Treasuries, United States
ECB leaves rates and bond buying unchanged despite inflation uptick
  + stars: | 2021-06-10 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.97   time to read: +1 min
European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. The European Central Bank decided Thursday to keep interest rates unchanged as market players look for clues on whether the central bank will soon lift its massive pandemic-era stimulus. The ECB had previously said it was expecting prices to pick up in 2021, but only temporarily. Market players therefore want answers on how long the central bank will keep up its vast monetary stimulus. ECB President Christine Lagarde is due to speak at 1.30 p.m. UK time.
Persons: Christine Lagarde Organizations: European Central Bank, Governing, ECB, U.S Locations: Frankfurt, Germany
Consumer prices keep on rising. Where does it end?
  + stars: | 2021-06-10 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
You can sign up right hereLondon (CNN Business) From lumber and steel to paint and burrito bowls at Chipotle, prices are rising almost everywhere you look . What's happening: Wall Street is training its attention on the Consumer Price Index for May, which arrives on Thursday. The report is expected to show that prices excluding food and energy continued to notch strong gains last month, rising 3.4% over the previous year. Including food and energy, economists believe consumer prices leaped 4.7% in the past 12 months. The European Central Bank, which met Thursday in Frankfurt, did not change its policy, issuing a statement that was essentially unchanged from its decision in April.
Persons: Kit Juckes, Yi Gang, Christine Lagarde, Andy Haldane, Wendy's WEN, Maneesh Deshpande, Deshpande, There's, , cyberattacks, Andre Nogueira, Jennifer Granholm, Jake Tapper, Dave Organizations: CNN Business, Bell, CNN, Consumer, Index, Traders, Federal, Generale, People's Bank of, European Central Bank, ECB, ING, Bank of England, New Statesman, Energy Fuels, Clover Health, Barclays, GameStop, Securities and Exchange Commission, Colonial Pipeline, US Justice Department Locations: London, China's, Shanghai, People's Bank of China, Frankfurt, Cornwall, England
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