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German fintechs Raisin and Deposit Solutions join forces
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com + 0.99   time to read: +1 min
BERLIN, June 25 (Reuters) - Two of Germany’s largest fintech startups Deposit Solutions and Raisin have agreed to join forces in a deal to create a European group linking banks with savers, both companies said on Friday. Under the name Raisin DS, the merged company will work with around 400 banks and have a deposit volume of around 20 billion euros ($24 billion). “We will keep all options open.”Georgadze said a financing round for the new firm will start soon. It would not be unreasonable to usher in a new round of financing soon,” Georgadze added. Raisin was valued at around 500 million euros in its last major financing round two years ago, while Deposit Solutions has a valuation of around 1 billion euros, according to its major shareholder Finlab.
Persons: Tamaz Georgadze, ” Georgadze, Peter Thiel, Goldman Sachs, Tim Sievers Organizations: Reuters, Raisin, Union, Deutsche Bank, PayPal, Deposit Solutions Locations: BERLIN, fintechs, London, Hamburg
UK retail sales jump in June, stocks dwindle - CBI
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: People shop in the Selfridges department store on Oxford street, as the coronavirus disease (COVID-19) restrictions ease, in London, Britain April 12, 2021. REUTERS/Henry NichollsLONDON (Reuters) - British retailers reported a jump in sales in June as the country’s fast vaccination programme encouraged shoppers to go out and spend, the Confederation of British Industry said on Friday. “This was the latest sign that the success of the vaccination programme is feeding through to stronger consumer confidence,” CBI economist Ben Jones said. The CBI survey also showed stock levels in relation to expected sales sank to their lowest since records began in August 1983 and no improvement was expected next month. The Bank of England is keeping a close eye on whether bottlenecks in supply caused by the pandemic lead to longer-term inflation pressures.
Persons: Henry Nicholls LONDON, Ben Jones Organizations: REUTERS, of British Industry, CBI, Bank of England Locations: Oxford, London, Britain, May’s
"The Taliban has nearly doubled the number of districts it controls, has captured key areas and military bases, and demoralized segments of the Afghan security forces and the government," Roggio said. We don't want to capture any province or provincial headquarters anywhere in Afghanistan by September 2021 when the U.S. forces leave our country," the Taliban commander said. "We neither imprison them nor punish the Afghan security forces who surrender peacefully. Somal Nazari left his village in Faryab province Sunday along with his young family as Taliban forces approached the city of Maymana. Afghan government forces have struggled to clear out the Taliban from districts they had captured, suffering serious casualties.
Persons: Roggio, Ashraf Ghani, Abdullah Abdullah, Biden, Washington, Zabihullah Mujahid, Marcus Yam, Somal Nazari, Nazari, , Dawlat Abad, Ghani, Deborah Lyons Organizations: High Council, National Reconciliation, White, NBC News, U.S, Doha, NATO, Taliban, UH, Blackhawk, Los Angeles Times, Getty, AK, NBC, Afghan, Soviet, . Security Locations: Tajikistan, Kabul, Kunduz province, United States, Afghanistan, United, U.S, Doha, Mazar, Kandahar, Faryab, Maymana, Sharif, Balkh, Faryab province, Dawlat, Afghan, Wardak, — Wardak, Logar
Take Five: The missing piece in the Fed puzzle
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.00   time to read: +4 min
Adding perky jobs data to the mix could change that picture, markets fear. Analysts expect the economy to add 600,000 jobs in June - the largest monthly gain in three months – up from a gain of 559,000 jobs in May. The U.S. Fed has shifted to a hawkish bias. Some mid-cap deals pulled stock market debuts recently: Marex Spectron in London, PHE Holdings in Paris and Primafrio in Madrid. But Nordgold aborting its debut might be the first casualty of expected central bank tightening as the hawkish Fed pushed gold 6% lower.
Persons: Jerome Powell, Philip Lane, Wise, Tom Westbrook, Dhara, Abhinav Ramnarayan, Marc Jones, Saqib Ahmed, Karin Strohecker, Toby Chopra Organizations: Federal Reserve, U.S, Fed, ECB, PHE Holdings, Bankers, CHINA BULLS, Thomson Locations: U.S, United States, Europe, Asia, London, Paris, Primafrio, Madrid, China, Singapore, New York
Energy, mining stocks push FTSE 100 higher; set for weekly gain
  + stars: | 2021-06-25 | by ( Shashank Nayar | ) www.reuters.com + 0.00   time to read: +2 min
The benchmark FTSE 100 index <.FTSE 100> rose 0.1% after jumping in the previous session as the Bank of England left interest rates unchanged near record lows. read moreEnergy shares (.FTNMX601010) climbed 1.02%, while miners BHP Group (BHPB.L), Anglo American (AAL.L) and Rio Tinto (RIO.L) gained between 0.4% and 1.2%. Building materials business CRH was among the top gainers on the FTSE 100 after brokerage Berenberg raised its target price on the stock. A raft of monetary and fiscal stimulus has helped the FTSE 100 rise 27% since the UK's second COVID-19 wave in October, but it has still underperformed its European peer (.STOXX), which gained 33% over the same period. read more"British equities will remain steady as it goes but unless we see any of the heavyweight stocks perform really better, the FTSE 100 will hover around the 7,000 level," added Temperton.
Persons: Toby Melville, Berenberg, BoE, Keith Temperton, Clayton, Shashank Organizations: London Stock Exchange, REUTERS, PT UDG Healthcare, Energy, Bank of England, BHP Group, Rio Tinto, Forte Securities, Healthcare, Thomson Locations: London, Britain, American, Rio, Dubilier, Bengaluru
COLUMN-Only half time in public debt match: Mike Dolan
  + stars: | 2021-06-25 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
But it ups the ante on public debt even further. If additional debt-financed spending can lift economic potential without stoking inflation, decades of trepidation over unchecked public debt loads moving from crisis to crisis may well have been wide of the mark and a different regime of high but manageable public debt at hand. Persistently high inflation surprises and full passage of U.S. spending bills could challenge that market stability, they add, but that’s “a limited risk” at this stage. Parsing differing arguments on measuring sovereign debt sustainability, the effects of high debt on growth, possible tipping points and debt dynamics of ageing societies, the piece concluded with pretty stark warnings about the trajectory. “This ‘low interest rate/high public debt’ equilibrium is fragile, as it crucially hinges on a continuation of low inflation,” wrote Deutsche economist Sebastian Becker.
Persons: stokes, what’s, , busily, Christian Keller, Akash Utsav, , that’s, PIMCO’s Tiffany Wilding, Andrew Balls, Sebastian Becker Organizations: Reuters, LONDON, European, Barclays, JPMorgan, Deutsche Bank, Deutsche Locations: hove, Britain, Cornwall, CORNWALL, U.S, United States, France, Italy, Germany
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
Indian cricket bowls toward financial big leagues
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.00   time to read: +3 min
Cricket - England v India - Fifth Test - Kia Oval, London, Britain - September 8, 2018 India's Ajinkya Rahane celebrates taking a catch to dismiss England's Jos Buttler Action Images via Reuters/Paul ChildsMUMBAI, June 25 (Reuters Breakingviews) - Indian cricket is batting to cross the boundary. RedBird Capital Partners is taking a 15% stake, adding to a collection of investments that includes baseball’s Red Sox and soccer’s Liverpool Football Club. Follow @ugalani on TwitterCONTEXT NEWS- India’s Rajasthan Royals said on June 24 that American investor RedBird Capital Partners would buy a 15% stake in the Indian Premier League cricket team. The deals value the franchise at between $250 million and $300 million, according to a person familiar the situation. - RedBird will provide strategic capital and advice to support the team’s long-term growth and commercial objectives, the Royals said in a statement.
Persons: Ajinkya Rahane, England's Jos, Paul Childs, Mukesh Ambani’s, Walt Disney, Jeffrey Goldfarb, Katrina Hamlin Organizations: Kia, Reuters, Rajasthan Royals, Indian, League, Royals, RedBird, Partners, Sox, soccer’s Liverpool Football Club, Mumbai Indians, Mukesh Ambani’s Reliance Industries, SS Lazio, FC Porto, Major League Baseball, Miami Marlins, Forbes, IPL, Star Sports, Walt, United, India’s Rajasthan Royals, RedBird Capital Partners, Indian Premier League cricket, Emerging Media, Financial Locations: England, India, London, Britain, Paul Childs MUMBAI, United Arab Emirates
A growing population in Asia and booming consumerism in industrialised nations make most climate targets very difficult, if not impossible to achieve. read moreThe International Energy Agency, the steward of energy policies in industrialised nations, last month said the world should not develop new oil and gas fields to achieve net zero targets by 2050. But its head Fatih Birol said this week net zero targets were a pipe dream without global consumption patterns changing. So many governments are coming with net zero targets by 2050 and the same year CO2 emissions are growing and it will be the second largest increase in history". [ID:]Birol said the IEA has over 400 milestones of what needs to happen to achieve net zero targets by 2050 and 95% of those milestones should be driven by changes demand not supply.
Persons: Toby Melville, Fatih Birol, Birol, Joe Biden, Biden, Kelly Sims Gallagher, Sims Gallagher, incentivize, Rodolfo Lacy, Bernard Looney, Laila Kearney, Rod Nickel, Ron Bousso, Dmitry Zhdannikov, Richard Valdmanis Organizations: Heathrow Airport, REUTERS, Reuters Energy, International Energy Agency, Monetary Fund, U.S, The Fletcher, Reuters, Organisation for Economic Co, ENI, Energy, Thomson Locations: London, Britain, Asia, coronavirus, France, United States, China, Europe, New York, WINNIPEG , Manitoba
Djokovic on a double mission as glory looms
  + stars: | 2021-06-25 | by ( Zoran Milosavljevic | ) www.reuters.com + 0.00   time to read: +3 min
Tennis - Serbia's Novak Djokovic poses with the trophy as he celebrates winning the 2019 Wimbledon final against Switzerland's Roger Federer. I do think that he can do it," Eurosport expert and seven-time Grand Slam champion Mats Wilander said. Having won the Australian Open in February, Djokovic initially struggled on the European clay. Even though Nadal is absent and eight-time champion Federer may be off the pace, Djokovic still faces a formidable field. Writing by Zoran Milosavljevic and Martyn Herman; editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.
Persons: Serbia's Novak Djokovic, Switzerland's Roger Federer, Toby Melville BELGRADE, Novak, Rafa Nadal, Roger Federer, Rod Laver, Nadal, Mats Wilander, Djokovic, Stefanos, Sam Querrey, Federer, Zoran Milosavljevic, Martyn Herman, Pritha Sarkar Organizations: Wimbledon, Lawn Tennis, Croquet Club, Djokovic, Federer, Tokyo, Eurosport, Nadal, Mallorca, French, U.S, Thomson Locations: London, Britain, Spanish, Mallorca
The logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland, Oct. 28, 2020. The bank's management needs a new-look Credit Suisse, as its standing with customers and in Switzerland hits a low ebb. "The Swiss establishment is aware that without a domestic merger Credit Suisse will disappear in foreign hands," one of the sources said. Earlier this year, when asked about a tie-up with Credit Suisse, UBS CEO Ralph Hamers threw cold water on the idea, saying he preferred "organic" growth. read moreBut many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.
Persons: Arnd, Archegos, Antonio Horta, Osorio, FINMA, Ralph Hamers, Christian Sewing, Pamela Barbaglia, John O'Donnell, Brenna Hughes, Oliver Hirt, Patricia Uhlig, Tom Sims, Lauren LaCapra, Rachel Armstrong, Jane Merriman Organizations: Swiss, Credit Suisse, REUTERS, UBS, Greensill, Suisse, Germany's Deutsche Bank, Deutsche, Reuters, Deutsche Bank, Thomson Locations: Bern, Switzerland, ZURICH, Swiss, Zurich, Washington, United States, London, Frankfurt, New York
A record $1.5 billion in ether options is set to expire on Friday. Insider asked 6 crypto investors and influencers for their outlooks on what may happen next. "For many investors, ethereum is a long-term asset given its real-world use cases and accelerating technology," he said. So how should investors balance the short-term trading and long-term investing opportunities in the midst of ether's largest options expiry this year? Insider spoke with six crypto traders, investors, and influencers to find out.
Persons: liquidations, Steve Ehrlich, Ehrlich, influencers, Crypto, Pablo Heman, it's, bitcoin, Ian Balina, Balina, ethereum, bullish, Scott Melker, There's, What's, Kevin Kang, Kang, Alex Clark, Clark Organizations: Service, ETH, BTC Locations: ethereum, London, backwardation
If Trump were indicted and fled, he would go where there's no extradition treaty, legal experts say. The US would be in "uncharted territories" if it sought extradition of Trump, experts say. But the US and Russia have no extradition treaty or formal process through which a wanted person is arrested. Russian officials could agree to entertain Trump's application, which would trigger an international standoff between two countries with an already fraught relationship. If US authorities arrested Trump and won a criminal conviction against him, the former president's political career wouldn't necessarily stop there.
Persons: Trump, Donald Trump, Cyrus Vance Jr, Vance, Vladimir Putin, It's, Biden, Shanlon Wu, Elizabeth Shackelford, Joe Biden, They've, Donald Trump's, he'd, I'm, Kim Jung Un, Susan Walsh, hasn't, Read, Edward Snowden, Phillip Faraone, Kim Jong Un, Kim, Wu, They'd, Julian Assange, Assange, Karen Alter, Alter, Tom Brenner, Fani Willis, Brad Raffensperger, Laurie Levenson Organizations: Service, Manhattan, Trump, State Department, Capitol, White, North, Trump hasn't, US, United Arab Emirates, WIRED25, Russian Embassy, US State Department, Justice Department's, International Affairs, Foreign Relations, US Marshals Service, WikiLeaks, Ecuadorian Embassy, Northwestern University, Investigators, Georgia, Democratic, Loyola University Locations: Russia, Moscow, Washington ,, North Korea, China, Belarus, Saudi Arabia —, Indonesia, Jersey, India, Ireland, Russian, Scottish, United States, Ecuador, Australian, London, Washington , DC, New York City , New York, Fulton County , Georgia, New York, Georgia, Fulton County, Washington
Europe’s leaders disagree on Russia talks despite Biden-Putin meeting
  + stars: | 2021-06-25 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.99   time to read: +1 min
Angela Merkel, Germanys chancellor, speaks with journalists as she departs a EU leaders meeting in Brussels, Belgium, on Friday, June, 25, 2021. LONDON — France and Germany's plans to restart talks with Russia have failed, as a number of other EU leaders remain skeptical about re-engaging with the Kremlin. Now, the German and French leaders would like to follow suit. Speaking on Thursday, French President Emmanuel Macron said the idea was not to offer concessions to Moscow, but simply to have a dialogue. The 27 EU leaders need to unanimously agree on restarting talks with Russia for such a meeting to take place.
Persons: Angela Merkel, Germanys, Joe Biden, Vladimir Putin, Emmanuel Macron, Gitanas Nauseda, Putin Organizations: LONDON —, Kremlin . U.S, Baltic Nations Locations: Brussels, Belgium, LONDON — France, Russia, Moscow, Lithuania
Russia accuses Britain, U.S. of fuelling Black Sea row
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
Russian deputy Foreign Minister Sergei Ryabkov arrives for a meeting with U.S. special envoy Marshall Billingslea in Vienna, Austria June 22, 2020. REUTERS/Leonhard FoegerMOSCOW, June 25 (Reuters) - Russia accused Britain and the United States on Friday of trying to incite conflict in the Black Sea and said it would defend its borders using all possible means, including military force. Deputy Foreign Minister Sergei Ryabkov was speaking a day after Moscow warned Britain it would bomb British naval vessels in the Black Sea if what it called provocative actions by the British navy were repeated off the coast of Russia-annexed Crimea. Russia said on Wednesday it had fired warning shots and dropped bombs in the path of a British warship to chase it out of Black Sea waters off the coast of Crimea. It said it believed any shots fired were a pre-announced Russian "gunnery exercise", and that no bombs had been dropped.
Persons: Sergei Ryabkov, Marshall Billingslea, Leonhard Foeger MOSCOW, Britain, Ryabkov, Anton Kolodyazhnyy, Alexander Marrow, Katya Golubkova Organizations: U.S, REUTERS, British, HMS, Defence Ministry, Thomson Locations: Vienna, Austria, Russia, United States, Moscow, Britain, Crimea, Washington, London, Ukraine, British, Russian, Syria's
U.S. inflation likely to remain elevated for up to four years - BofA
  + stars: | 2021-06-25 | by ( Thyagaraju Adinarayan | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Brendan McDermidLONDON, June 25 (Reuters) - BofA expects U.S. inflation to remain elevated for two to four years, against a rising perception of it being transitory, and said that only a financial market crash would prevent central banks from tightening policy in the next six months. Hartnett thinks inflation will remain in the 2%-4% range over the next 2-4 years. U.S. inflation has averaged 3% in the past 100 years, 2% in the 2010s, and 1% in 2020, but it has been annualising at 8% so far in 2021, Bofa said in the note. BofA clients were still heavily invested in equities, with cash allocations well below long-term averages at 11.2%. In the week to Wednesday, investors pumped $7 billion into equities and $9.9 billion into bond funds, while pulling $53.5 billion from cash funds, BofA calculated, using EPFR data.
Persons: Brendan McDermid LONDON, Michael Hartnett, Hartnett, Bofa, Jerome Powell, Thyagaraju Adinarayan, Karin Strohecker Organizations: Swatch, REUTERS, BofA, Fed, . Federal, Thomson Locations: New York City, U.S
UK investors score another win over buyout barons
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.93   time to read: +1 min
REUTERS/Hannah McKayLONDON, June 25 (Reuters Breakingviews) - British shareholders are 2-0 up against private equity suitors this week. On Friday London-listed UDG Healthcare (UDG.L) said buyout firm Clayton, Dubilier & Rice may sweeten its offer for the pharmaceutical services company to 10.80 pounds per share, valuing it at 2.7 billion pounds. UDG’s board recommended a bid worth 10.23 pounds per share in May, but shareholder Allianz Global Investors argued it was too cheap. On Thursday Blackstone (BX.N) bumped up its offer for British housebuilder St Modwen Properties (SMP.L) to 560 pence per share, from 542 pence read more . The concessions are a victory for shareholders who have pushed up prices of private equity takeover targets in the hope of securing higher bids read more .
Persons: Jack, Hannah McKay LONDON, Clayton, Rice, Aimee Donnellan, Didi, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, London, Healthcare, Allianz Global Investors, Blackstone, British, Modwen Locations: London, Britain, Dubilier
Julian Assange's partner Stella Moris reacts after a court denied bail to WikiLeaks founder Julian Assange, outside the Westminster Magistrates Court in London, Britain January 6, 2021. REUTERS/Henry NichollsLONDON, June 25 (Reuters) - President Joe Biden must let Julian Assange go free if he wants the United States to become a beacon for a free press once again and put the legacy of Donald Trump behind it, the fiancée of the WikiLeaks founder told Reuters. "If Biden really wants to break with the Trump legacy, then he has to drop the case," Moris told Reuters in an interview. The U.S. Justice Department said in February it planned to continue to seek the extradition for Assange to face hacking conspiracy charges. "A superpower that has a free press is very different in nature from one that does not."
Persons: Julian Assange's, Stella Moris, Julian Assange, Henry Nicholls LONDON, Joe Biden, Donald Trump, Assange, fiancée Stella Moris, Biden, Trump, Moris, Julian, Barack Obama, Weeks, Vanessa Baraitser, Julian wouldn't, he's, Philippa Fletcher Organizations: Court, REUTERS, Reuters, Washington, WikiLeaks, U.S . Justice Department, Apache, U.S, Thomson Locations: Westminster, London, Britain, United States, U.S, Afghanistan, Iraq, Baghdad, Sweden, British, Australian, China, Saudi Arabia, Belmarsh
UK health minister pictured kissing aide; opposition wants appointment 'looked into'
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Britain's Health Secretary Matt Hancock leaves his house, in London, Britain June 17, 2021. The Rupert Murdoch-owned Sun tabloid said the picture of Hancock, who is married, and the aide was taken last month. The Sun said Hancock met the aide at Oxford University in the early 2000s. Asked about the appropriateness of appointing friends to positions in government, Transport Minister Grant Shapps told Sky News that "very strict rules were in place. "In terms of the rules, anyone who has been appointed has to go through an incredibly vigorous process in government," Shapps said.
Persons: Matt Hancock, Henry Nicholls LONDON, Hancock, Rupert Murdoch, Grant Shapps, Shapps, Paul Sandle, Guy Faulconbridge, Mike Collett Organizations: REUTERS, British, Sun, Labour Party, Ministers, Labour, Reuters, Oxford University, Transport, Sky News, White, Thomson Locations: London, Britain
Djokovic to play British teenager Draper as Wimbledon returns
  + stars: | 2021-06-25 | by ( Martyn Herman | ) www.reuters.com + 0.00   time to read: +3 min
World number one Djokovic is halfway to a calendar-year Grand Slam after winning the Australian and French Open titles, taking his overall tally to 19 majors. Draper, 19, will be making his Grand Slam main draw debut. read moreSerena Williams, who Halep beat to won the title in 2019, will begin her latest quest to claim a record-equalling 24 Grand Slam titles, against Aliaksandra Sasnovich of Belarus. Eight-time Wimbledon champion Roger Federer, who turns 40 this year, takes on Frenchman Adrian Mannarino in round one. The standout match of the women's opening round sees twice Wimbledon champion Petra Kvitova, seeded 10, up against former U.S. Open champion Sloane Stephens.
Persons: Serbia's Novak Djokovic, Switzerland's Roger Federer Laurence Griffiths, Halep, Serena, Sasnovich, Suarez Navarro, Novak, Jack Draper, Simona Halep, Draper, Romanian Halep, Serena Williams, Aliaksandra Sasnovich, Ash, Spain's Carla Suarez Navarro, Andy Murray, Nikoloz, Roger Federer, Frenchman Adrian Mannarino, Kevin Anderson, Stefanos Tsitsipas, Daniil Medvedev, Germany's Jan, Lennard, Marin Cilic, Australian Margaret Court, Angelique Kerber, Coco Gauff, Williams, Gauff, Francesca Jones, Petra Kvitova, Sloane Stephens, Martyn Herman, Ken Ferris Organizations: Lawn Tennis, Croquet Club, Grand, Suarez Navarro LONDON, Wimbledon, Georgian, Nikoloz Basilashvili, Australian, U.S, Thomson Locations: London, Britain, British, Romanian, Belarus, Australia, American
Why Wall Street loves Joe Manchin right now
  + stars: | 2021-06-25 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +7 min
Those words, from President Joe Biden on infrastructure spending, were enough to trigger a Wall Street celebration . "Infrastructure spending strengthens an already very strong economic growth outlook," said Jeff Buchbinder, equity strategist for LPL Financial. Victoria's Secret has made a huge pivot. Although marketing trends changed, Victoria's Secret mostly stuck to the same playbook that helped it dominate the industry for years: push-up bras and scantily-clad celebrity models known as its "Angels." But Victoria's Secret seems to be on a much better track.
Persons: Joe Biden, Stocks, Biden, Mitt Romney, Joe Manchin —, Jeff Buchbinder, Jeffrey Sacks, Arnold Donald, Long, Janine Stichter, Nathaniel Meyersohn, Megan Rapinoe, Priyanka Chopra Jonas, Paloma Elsesser, Stichter Organizations: CNN Business, Bell, CNN, Republican, Democratic, White, Dow, Nasdaq, LPL, Citi Private Bank, Biden, P Global, US Centers for Disease, British Airways, IAG, Jefferies, L, Brands Locations: London, Europe, East, Africa, United Kingdom, France, Spain, Italy, tatters
London (CNN Business) British regulators are investigating whether Amazon and Google have broken consumer protection law by not doing enough to protect shoppers from fake product reviews. formal inquiry, which builds on a preliminary probe launched last May, could force Amazon AMZN Google GOOGL The UK Competition and Markets Authority (CMA) said Friday that itsformal inquiry, which builds on a preliminary probe launched last May, could forceandto change the way they deal with fake reviews or result in court action. "Our worry is that millions of online shoppers could be misled by reading fake reviews and then spending their money based on those recommendations," CMA chief executive Andrea Coscelli said in a statement. "Equally, it's simply not fair if some businesses can fake 5-star reviews to give their products or services the most prominence, while law-abiding businesses lose out," Coscelli added.
Persons: Andrea Coscelli, it's, Coscelli, Read Organizations: London, CNN Business, Amazon, Google, Markets Authority, CMA
U.S. stocks upbeat on infrastructure deal, oil dips
  + stars: | 2021-06-25 | by ( Carolyn Cohn | ) www.reuters.com + 0.00   time to read: +5 min
The plan is valued at $1.2 trillion over eight years, $579 billion of which is new spending. European stocks (.STOXX) were steady on the day and up 1% on the week, after also hitting record peaks earlier this month. Benchmark 10-year U.S. Treasuries , which saw yields dip after the infrastructure bill announcement, were last at 1.4901%, up from a close of 1.487% on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1%, and Chinese blue chips (.CSI300) rallied 1.63%. Spot gold was up 0.39% at $1,782.58 an ounce, on track for its first weekly rise in four.
Persons: Lucas Jackson, Joe Biden, Biden, Sebastien Galy, Germany's DAX, Eddie Cheng, Bonds, Cheng, Drew Horter, BofA, Michael Hartnett, Sterling, Ritvik Carvalho, Andrew Galbraith, Tom Westbrook, Ana Nicolaci da Costa, Kim Coghill, Timothy Heritage Organizations: New York Stock Exchange, REUTERS, U.S, Nordea Asset Management, Nasdaq, Wells Fargo Asset Management, . West Texas, Brent, Federal Reserve, Tactical Fund, Bank of England, Thomson Locations: New York, U.S, Wells Fargo, Cincinnati, Asia, Pacific, Japan, London, Shanghai, Singapore
English COVID-19 prevalence rises to 1 in 440 in latest week
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.98   time to read: 1 min
A person receives a dose of the Pfizer BioNTech COVID-19 vaccine at a mass vaccination centre for those aged 18 and over at the Tottenham Hotspur Stadium, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, June 20, 2021. REUTERS/Henry NichollsLONDON, June 25 (Reuters) - The prevalence of COVID-19 infections in England is estimated to have risen to 1 in 440 people in the week to June 19 from 1 in 520 the week before, Britain's Office for National Statistics (ONS) said on Friday. There were 122,500 people within the community population in England who were estimated to have had COVID-19 during the week, the ONS said, up from 105,000. Reporting by Andy Bruce; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.
Persons: Pfizer BioNTech, Henry Nicholls LONDON, Andy Bruce, Kate Holton Organizations: Pfizer, Pfizer BioNTech COVID, Tottenham Hotspur, REUTERS, National Statistics, Thomson Locations: London, Britain, England
'Golden opportunity' awaits Serena at Wimbledon
  + stars: | 2021-06-25 | by ( Rory Carroll | ) www.reuters.com + 0.00   time to read: +3 min
Williams, 39, continues her quest for a record-equalling 24th Grand Slam title but her inconsistency has left many to wonder if the hard-hitting American has the mental and physical strength to string together seven high quality matches. "That's the question everybody's been asking," former world number one and 18-time Grand Slam champion turned ESPN analyst Chris Evert said on a call with reporters. read more"This is to me her golden opportunity," Evert said. "If there was ever a year that has looked good in the last few years, if there ever was a Grand Slam she is capable, more than capable, of winning... it would be this year's Wimbledon." I think if her serve is on, she could very well get to the second week, even make a quarter or a semi, very possible at Wimbledon."
Persons: Serena Williams, Germany's Angelique Kerber REUTERS, Andrew Boyers, Williams, everybody's, Chris Evert, Ash Barty, Simona Halep, Naomi Osaka, Evert, Halep, Bianca Andreescu, Aryna, Barbora Krejcikova, Karolina Pliskova, there's, Coco Gauff, Venus Williams, Gauff, Anastasija, John McEnroe, Rory Carroll, Ken Ferris Organizations: Lawn Tennis, Croquet Club, Wimbledon, England, ESPN, Thomson Locations: London, Britain, U.S, Los Angeles
Total: 25