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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. Speculators’ net long positions in U.S. bond futures hit the highest level since October 2017, U.S. financial watchdog data showed. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. Bitcoin held on to weekend gains, when Elon Musk flagged Tesla’s possible resumption of transactions using the token.
Persons: Goldman Sachs, ” John Woolfitt, Treasuries, , Akira Takei, Bitcoin Organizations: U.S . Federal, Atlantic Capital, Asset Management, Nikkei, European Central Bank, Elon Musk Locations: TOKYO, U.S, COVID, China, London, , Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Companies Push Employees to Prove They Are Vaccinated
  + stars: | 2021-06-14 | by ( Chip Cutter | Orla Mccaffrey | ) www.wsj.com sentiment -0.97   time to read: +1 min
Companies are stepping up the pressure on workers to get vaccinated—not necessarily with mandates but with strong nudges. While most employers haven’t flat-out ordered staff to get vaccinated, many are asking workers to report their vaccination status or are implementing policies that restrict the activities of unvaccinated workers. Some companies say they want reassurance that the majority of their workers are vaccinated before broadly reopening offices. The Wall Street firm, which hasn’t mandated vaccines, has told staff that fully vaccinated employees who have registered their status can work without masks in its offices. Other banks, including Morgan Stanley and Wells Fargo & Co., have asked employees to voluntarily register their vaccination status.
Persons: Morgan Stanley, Wells Organizations: Companies, Goldman Sachs, Inc, Wells Fargo & Co
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
Recovery bets also boosted oil to May 2019 highs as investors apparently view 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. “The bond market continues to show a vote of confidence in the Fed remaining patient and lower for longer. The stock market is similarly emboldened and hovering around all-time highs,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Goldman Sachs, , Chris Zaccarelli, Bitcoin, VIX Organizations: Reuters, U.S . Federal, Dow Jones, Nasdaq, Fed, Independent, Nikkei, European Central Bank, Elon Musk Locations: U.S, Europe, COVID, China, Charlotte , North Carolina, Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Oil prices climb as demand outlook improves, supplies tighten
  + stars: | 2021-06-14 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -0.96   time to read: +2 min
The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. U.S. West Texas Intermediate gained 47 cents, or 0.7%, to $71.38 a barrel, the highest since October 2018. read moreThe OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020, maintaining strong compliance with agreed targets in May. read more"OPEC+ needs to open the taps to keep the world oil markets adequately supplied," the IEA said. It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.
Persons: Alexey Malgavko, Brent, Avtar Sandu, Goldman Sachs, Baker Hughes Organizations: REUTERS, . West Texas Intermediate, Phillip Futures, of, Petroleum, International Energy Agency, Thomson Locations: Omsk, Russia, North America, Europe, India, Singapore, OPEC
Analysts at Goldman Sachs have named a number of renewable energy companies that are set for "unprecedented growth" and said now is the time to invest. "Many renewables are down more than 20% from their peak," the analysts wrote in a research note on June 8, adding that their stock picks provide an attractive entry point into "clean" energy. Government funding, regulatory support and cash flowing into so-called ESG funds — those that take environmental, social and governance factors into account — are now set to boost the performance of renewable energy stocks, the bank said. "We think companies exposed to the energy transition are likely to deliver unprecedented growth over the coming decades," they added. U.S. and global firms in Goldman's Global Renewable Energy basket include:
Persons: Goldman Sachs Organizations: Goldman, Global, Energy
Oil holds near multi-year highs amid demand recovery
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.99   time to read: +1 min
An oil pumping jack, also known as a "nodding donkey", in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs. The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020. U.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report. It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.
Persons: Brent, Goldman Sachs, Baker Hughes Organizations: . West Texas, of, Petroleum, International Energy Agency Locations: Dyurtyuli, Republic of Bashkortostan, Russia, North America, Europe, OPEC, U.S
REUTERS/Kim Kyung-HoonWorld 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. Speculators' net long positions in U.S. bond futures hit the highest level since October 2017 , U.S. financial watchdog data showed. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Kim Kyung, Goldman Sachs, John Woolfitt, Treasuries, Akira Takei, Bitcoin Organizations: Nikkei, REUTERS, U.S . Federal, Atlantic Capital, Asset Management, Japan's Nikkei, European Central Bank, Elon Musk, Thomson Locations: Tokyo, Japan, U.S, COVID, China, London, Asia, Hong Kong, Australia, Pacific, Xinjiang
The arrival of a new CEO and the transition to electric vehicles should leave Ferrari's stock stuck in park for the immediate future, according to Goldman Sachs. The luxury automaker tapped semiconductor industry veteran Benedetto Vigna as its new chief executive officer earlier this month. The move, along with a new plan for electric vehicles, have signaled to many on Wall Street that Ferrari is moving into a new tech-centric era. Goldman analyst George Galliers dropped his rating on the stock to sell from buy, saying that the strategic shift puts a ceiling on what Ferrari can do in the near term.
Persons: Goldman Sachs, Benedetto Vigna, Goldman, George Galliers Organizations: Ferrari
Check out the companies making headlines before the bell:Novavax (NVAX) – The drugmaker said its Covid-19 vaccine proved 90% effective overall in a late-stage trial, and 93% effective against the most predominant variants of the virus. Phillips (PHG) – Phillips shares slid 4.3% in premarket action after saying it would recall up to 4 million CPAP machines due to potential toxicity risks. Chipotle shares gained 1.4% in the premarket. Shares gained 2% in premarket trading. NextGen shares gained 1.9% in the premarket.
Persons: Steve Burns, Julio Rodriguez, Lordstown, Burns, Rodriguez, Phillips, – Phillips, – Raymond James, Ferrari, – Goldman Sachs, Marco Cavaleri, Oatly, Oppenheimer, Morgan Stanley, Piper Sandler, Jefferies, JPMorgan Chase, Cristiano Amon, Equinix, – Equinix, Sir Richard Branson's Virgin, Sky, NextGen Organizations: Lordstown Motors, Grill, GlaxoSmithKline, GSK, iTeos Therapeutics, AstraZeneca, European Medicines, Royal, Shell, Reuters, Credit Suisse, Guggenheim, JPMorgan, RBC, Qualcomm, Nvidia, Sir Richard Branson's Virgin Orbit, Sky News, Virgin Locations: Texas
Goldman, Citi say Squarespace's hot start as a public company has room to run
  + stars: | 2021-06-14 | by ( Jesse Pound | ) www.cnbc.com sentiment -0.95   time to read: 1 min
The New York Stock Exchange welcomes Squarespace, Inc. (NYSE: SQSP), on May 19, 2021, in celebration of its Direct Listing. Squarespace's impressive start as a public company is not done yet, according to several major investment firms. The website-builder company made its Wall Street debut in a direct listing last month, opening at $48 per share. Several major Wall Street firms initiated cover of the stock on Sunday and Monday, with some of the biggest names saying Squarespace has more room to run. One of the most bullish calls so far came from Goldman Sachs, which initiated with a buy rating and projected the company to grow its revenue by more than 20% next year.
Persons: Squarespace, Goldman Sachs Organizations: New York Stock Exchange, Inc
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
According to Amazon growth agency Jungle Scout, more than 54% of the $386 billion in net sales that the retail platform generated in 2020 came from third-party Amazon sellers. Between 2019 and 2020, Amazon invested $30 billion in its community of small sellers, spotlighting it in, among other things, a series of commercials outlining the fact that small and medium Amazon businesses sell 6,500 products every minute. Over the past year, an increasing number of third-party sellers have cashed in on their Amazon brands, selling to heavily-funded companies, including category leader Thrasio. Founded in 2018, the holding company reached a $1 billion valuation on the strength of folding up nearly 100 Amazon brands. The companies rolling up Amazon businesses and who's funding themThe landscape for buying businesses like Barzvi's has become crowded with companies trying to profit on the trend.
Persons: They're, Thrasio, Josh Silberstein, rainmaker Michael Klein, Japan —, Procter & Gamble —, Paul Rafelson, PLLC, Rafelson, Lori Barzvi, Barzvi, Guy, Lori, they've, Walter Gonzalez , Jr, GOJA, , Walter Gonzalez, Walter Gonzalez Gonzalez, Gonzalez, JP Morgan, Goldman Sachs, Jason Guerretteraz, — they've, Thrasio's, GOJA's Gonzalez, they'd, Silberstein, Joshua Silberstein, Joshua Silberstein Silberstein, who's, ecommerce, Tim Derdenger, Derdenger, You've Organizations: Commerce, Procter & Gamble, Scout, Amazon, Bloomberg, Churchill Capital Corp, Citigroup Inc, Procter &, World Trade, GOJA, JP, Next Coast Ventures, 3L, JP Morgan Bank, BlackRock, Barclays, UBS, CreditSuisse, RBC, Spark, Tectonic Ventures, Boston, Torch Capital, Forbes, NextCoast Ventures, Walmart, Carnegie Mellon University's Tepper School of Business Locations: Thrasio, Germany, Japan, Manhattan, China
More than a third of US consumers used a buy now, pay later offering by July 2020, according to Insider Intelligence. Much more than just another payment option, buy now, pay later services have evolved into consumer-facing companies, keen to establish their own brands. Armed with existing credit businesses and balance sheets, banks have the financial resources to manage the buy now, pay later loans. For smaller retailers, a buy now, pay later provider might be an attractive way to boost sales and increase conversions, especially if they don't have the tech budget or talent to build out their own buy now, pay later plans. For Uplift, which was founded in 2013, working within its customers' existing loyalty schemes was key.
Persons: BNPL, Brian Barth, Klarna, Adam Hughes, they've, Max Levchin, Barth, BNPLs, Macy's, Jeff Gennette, Gennette, Denny Nealon, Nealon, It's, Goldman Sachs, Val Greer, Greer, We're, Michael Linford, we've, Linford Organizations: Barclays, Alliance, Intelligence, New York, Klarna, Barclays US Consumer Bank, WestCap, American Airlines, JetBlue, Inc, Alliance Data, Card Services, Southwest, Southwest's Locations: North America, Macy's, Avant
The labor shortage is forcing some firms to limit production, cut operating hours, and raise prices. Some are offering free accommodation and college tuition to staff, while others are hiking up wages. Read more: How Starbucks is defying the labor shortage crisis with transformative perks, not cash teasers like McDonald's"Everybody is hiring at the exact same time," Danny Meyer, chair of the NYC Economic Development Corporation, said. Free hotel staysOmni Hotels and Resorts told The New York Times that it was offering free hotel stays for some summer employees while they work. What's causing the labor shortage?
Persons: Danny Meyer, Joy Rothschild, Rothschild, iPhones, Korn Ferry, Goldman Sachs, Cleveland Fed he'd, wouldn't, Amanda Cohen, Candy, they'd, Whataburger, JBS, David Bloom, Bloom, Ryan Stansbury, Applebee's, , Insider's Áine Cain Organizations: US, of Commerce, Federal Reserve, NYC Economic Development Corporation, Waste Management, New York Times, Resorts, CNN, Omni Hotels, Cleveland Fed, Guardian, Federal, Texas, MSNBC, Wing, Costco, Target, Labor Department, Bank of America Locations: Altamont , Illinois, Jersey, Santa Cruz , California, Canada, New York City, Cleveland, Dallas, Pittsburgh, Tampa , Florida
The 10 highest-raising logistics startups have landed more than $1 billion this year. In the year leading up to the pandemic, logistics startups posted some of the largest rounds the industry had ever seen. But the company remains one of the most high-profile logistics startups. Arrive Logistics CEO Matt PyattMatt Pyatt is the CEO of Arrive Logistics. Like many freight startups, KeepTruckin wavered in 2020 — laying off 349 staffers, 18% of its team.
Persons: Project44, Jett McCandless, they're, McCandless, Jiajun Zhu Nuro, Chipotle Nuro, Baillie Gifford, Jiajun Zhu, Nuro, Ryan Petersen Ryan Petersen, Daniel Reinhardt, SoftBank, Ryan Petersen's, ImportGenius, Flexport, Dan Lewis Lewis, Rowe Price, Baillie Gifford Convoy, Dan Lewis, Lewis, Samantha Lee, Goldman Sachs, Jan Bednar, ShipMonk, Matt Pyatt Matt Pyatt, Matt Pyatt, Tobin Moore Tobin Moore, Optoro, retails, Tobin Moore, Moore, cofounding Optoro, Mikko Kärkkäinen Mikko Kärkkäinen, Forrester, Mikko Kärkkäinen, Shoaib Makani, KeepTruckin, Hunt, Mathew Elenjickal Elenjickal, FourKites, Mathew Elenjickal, Elenjickal Organizations: Walmart, CVS, Partners, Getty, Fund, GV, TechCrunch, Flexport, Convoy, Greylock, Microsoft, Google, cofounding Convoy, Uber, Business, Silicon Valley Bank, Insight Partners, Summit, SJF Ventures, Periphas, Florida Atlantic University, Logistics, Temasek, Lead Edge, Baupost, Command Transportation, Ikea, UPS Ventures, Target, American Eagle Outfitters, Relex, TCV, Albertsons, Index, Institutional Venture Partners, Khosla Ventures, Bain Capital Ventures, Hyde Park Venture Partners, Volvo Group Ventures, Gartner, Solutions Locations: Georgia, Pacific, Silicon, Chicago, Europe, Czech Republic, Texas, Finland, TCV, Oracle's, Walmart Canada
The amount of taxes Mr. Buffett paid over this period? Imagine if Mr. Buffett had to pay the same fraction of the growth of his net worth that regular people do. The important point here is that Mr. Buffett’s tax payments as detailed by ProPublica are fully legal. I asked Mr. Buffett last week, via his longtime secretary, Debbie Bosanek, if he could think of even one tax or accounting practice that he has come to regret. And this points to another way in which the Good Billionaire is hard to deal with.
Persons: Buffett, Debbie Bosanek, Bosanek, , Goldman Sachs
Whether the surge will be temporary or inflation is here to stay is still unknown. If higher inflation remains it could sink stocks, which now have historically high valuations. Jeffrey Gundlach, the billionaire investor known in the financial community as the "bond king," made a simple prediction about inflation on Tuesday. I'm guessing 'up,'" Gundlach said in a tweet, referencing the consumer price index, a popular measure for inflation. "Absorbing those bonds if inflation stays high is going to be a really big problem," Gundlach said.
Persons: Jeffrey Gundlach, Gundlach, it's, Mohamed El, Erian, Gargi Chaudhuri, Goldman Sachs, Ryan Detrick Organizations: Bloomberg, Federal Reserve, Yahoo Finance, Reserve, CNBC, LPL, Fed Locations: Americas
Credit Suisse has hired HSBC's Truls Engebretsen as a senior credit trader. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Christopher Dawe , previously co-head of private investments at Goldman Sachs, will lead Private Capital's technology and consumer growth equity business. Meg McClellan will lead private debt.
Persons: Alice Milligan, Morgan Stanley, Andy Saperstein, Milligan, Audrey Choi, Choi, Chad Turner, Mike Curcio, HSBC's Truls, Christopher Bathon, Mike Malloy, Marshall Peters, HSBC's, Cowen, Jenny Killeen, Michael S, Raymond James, Ryan Kaeding, Kaeding, Piper Sandler, Katherine Fogertey, Fogertey, Goldman Sachs, Deborah Bussière, Christopher Dawe, Osei Van Horne, Van Horne, Brian Carlin, Rick Smith, Meg McClellan, Anton Pil, Ben Darsney, Justin Smolkin, Jeff Bunzel, Darsney, Smolkin, Michael Lattarulo, Meredith Mazzilli, Rebecca Ungarino, Carter Johnson, Reed Alexander, Alex Morrell Organizations: intel, Trade, Credit Suisse, HSBC, MSD, Broadridge Financial, JPMorgan, Wells Fargo, JPMorgan Private Capital, Goldman, Wells, Private, Deutsche Bank Locations: Americas
Get to know 12 top fintech bankers
  + stars: | 2021-06-12 | by ( Meredith Mazzilli | ) www.businessinsider.com + 0.00   time to read: +3 min
Bank of America; Morgan Stanley; Goldman Sachs; Moelis & Company; Samantha Lee/InsiderThe fintech space has exploded in recent years, keeping Wall Street bankers busy. Some banks see fintech as an outgrowth of TMT and FIG teams, while others see it as a stand-alone. Check out what 12 fintech bankers have to say about the space. Getty ImagesMichael Recce, a former Neuberger Berman and Point72 data head, has started his own data business: Alpha ROC, a technology and consulting firm meant to simplify data for both the vendor and the user. Don Arnold/Getty Images for Klarna"Buy now, pay later" services have evolved into consumer-facing companies keen to establish their own brands.
Persons: Samantha Lee, Son, Rupert Murdoch, Jeff Stine, Ari Emanuel, Alessandro Di Ciommo, Taylor, Ben Gabbe, Amy Sussman, Raymond Boyd, Jeff Sine, Here's, Dick Loek, Chase Coleman, Matthew Sharnoff, Jigar Patel, Morgan Stanley, Kelly Galanis, Goldman Sachs, Tommaso Zanobini, Michael Recce, Neuberger Berman, Recce, Rich, Atlantic's Robbert Vorhoff, Don Arnold Organizations: Finance, Deutsche Bank, AllianceBernstein, Accenture, Wall, PayPal, Getty, Toronto Star, Bank of America, Moelis & Company, Moelis, Company, Street, FIG, Alpha ROC, Mercy San Juan Hospital, AP, Vida Health, Here's Locations: Silicon Valley, Carmichael , California, Tech
25 GOP-led states are ending $300 weekly unemployment benefits early to get people back to work. Following an April jobs report that fell significantly short of expectations, 25 GOP-led states announced they would be ending unemployment benefits early to incentivize people to get back to work. Goldman's Joseph Briggs wrote in a Friday note that the 25 states opting out of President Joe Biden's $300 weekly unemployment benefits will boost job growth by 150,000 in July and over 400,000 in September. Bank of America Research said states are ending unemployment benefits early in large part because the benefits are higher than leisure and hospitality wages. Democrats have also disagreed that the benefits are a disincentive, even calling for continued unemployment benefits tied to economic activity beyond the pandemic.
Persons: Goldman Sachs, BofA, Goldman, Goldman's Joseph Briggs, Joe Biden's, Briggs, haven't, Stephen Juneau, Juneau, payrolls, Vermont Sen, Bernie Sanders, Biden Organizations: GOP, Bank of America, Goldman Sachs Global Investment, Bank of America Research, BofA Research, Department of Labor, Bank of America Global Research, Target, Twitter Locations: Vermont
Goldman Sachs CEO David Solomon has released a new single, with proceeds going to charity. The bank chief, who sometimes uses the name "DJ D-Sol," posted the song on his Instagram account. David Solomon, the CEO of Goldman Sachs, dropped a new single as part of his dance-music side project. A Goldman spokesperson told the outlet: "David enjoys producing music, and he is dedicated to giving back. In February, Solomon made clear that he wanted staff back in the office, as Insider's Reed Alexander reported.
Persons: Goldman Sachs, David Solomon, David, Solomon, Insider's Reed Alexander, Goldman, Anna Cooban, Kate Duffy Organizations: New York Post, Goldman, Guardian, The New York Times, Times Locations: London
Richard Branson's Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019. Virgin Orbit, the satellite-launching spinoff of Sir Richard Branson's Virgin Galactic, is in advanced discussions to go public at about a $3 billion valuation through a SPAC led by a former Goldman Sachs partner, CNBC confirmed Saturday. NextGen II is a special purpose acquisition company led by George Mattson, who previously co-led Goldman's global industrials group. The company is a spin-off of Branson's space tourism company Virgin Galactic. Virgin Orbit is privately held by Branson's multinational conglomerate Virgin Group, with a minority stake from Abu Dhabi sovereign wealth fund Mubadala.
Persons: Richard Branson's Virgin, Sir Richard Branson's Virgin, Goldman Sachs, NextGen, George Mattson Organizations: Boeing, CNBC, NextGen, Sky News, Virgin, Virgin Galactic, Orbit, Virgin Group Locations: Mojave , California, Abu Dhabi
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
Oil rises to fresh multi-year highs on demand recovery
  + stars: | 2021-06-11 | by ( Dmitry Zhdannikov | ) www.reuters.com sentiment -0.98   time to read: +1 min
Oil prices rose on Friday to fresh multi-year highs and were set for their third weekly jump on expectations of a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs. read moreThe International Energy Agency said in its monthly report that OPEC+ oil producers would need to boost output to meet demand set to recover to pre-pandemic levels by the end of 2022. "OPEC+ needs to open the taps to keep the world oil markets adequately supplied," the Paris-based energy watchdog said. It said that rising demand and countries' short-term policies were at odds with the IEA's call to end new oil, gas and coal funding. "Even the jet fuel market is showing signs of improvement, with flights in Europe rising 17% over the past two weeks, according to Eurocontrol," ANZ analysts said.
Persons: Goldman Sachs, Brent, Eurocontrol Organizations: Brent, . West Texas, International Energy Agency, OPEC, ANZ Research, ANZ, Thomson Locations: Europe, China, United States, OPEC, Paris, Saudi Arabia, Russia, North America
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