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The narrowing current account deficit and consistent capital inflows recently have helped propel a rapid rise in the exchange rate, with the dollar now trading below 5.00 reais for the first time in a year. Central bank figures show that Brazil posted a $3.8 billion current account surplus in May, slightly less than the $4 billion median forecast in a Reuters poll of economists. In the 12 months to May, the current account deficit totaled $8.4 billion, or 0.55% of gross domestic product, which was the smallest since February 2008. On Thursday, the central bank raised its 2021 current account surplus forecast slightly to $3 billion from $2 billion. On Thursday, the central bank more than doubled its 2021 portfolio inflows forecast to $21 billion from $10 billion.
Persons: Stocks Organizations: Investors Locations: BRASILIA, Brazil
UPDATE 1-Brazil's BRF buys pet food firm Mogiana Alimentos
  + stars: | 2021-06-25 | by ( Ana Mano | ) www.reuters.com + 0.85   time to read: +1 min
(adds details from the filing)SAO PAULO, June 25 (Reuters) - Brazilian food processor BRF SA has acquired 100% of pet products company Mogiana Alimentos, a securities filing showed on Friday, extending its presence in the booming pet sector. The deal marks BRF’s second acquisition in the sector this month after it said on June 18 it had reached an agreement to buy pet food company Hercosul. BRF, which did not disclose the value for either transaction, said the acquisitions would give it a roughly 10% share of Brazil’s pet food market, which has been on an upswing, leading to new entrants and initial public offerings. BRF said it made the acquisitions through its pet products subsidiary BRF Pet SA. In the pet food market for over 46 years, Mogiana Alimentos specializes in animal nutrition products for dogs and cats, BRF said in the filing.
Persons: BRF, Mogiana Alimentos, São Paulo sate, Ana Mano, Jason Neely, Mark Potter Organizations: SAO PAULO, BRF, BRF Pet SA Locations: São, Caribbean, Europe, South America
Spanx taps Goldman Sachs to explore options including sale - NYT
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.89   time to read: +1 min
June 25 (Reuters) - Shapewear maker Spanx has tapped Goldman Sachs to explore options including a sale, New York Times’ DealBook newsletter reported on Friday, citing multiple sources familiar with the matter. The report said Spanx has attracted interest from private equity firms, including Carlyle, and that any deal could value it at $1 billion or more. It also said Spanx's founder Sara Blakely could retain some ownership in the company. Demand for apparel has rebounded in recent weeks as the United States returns to relative normalcy on the back of speedy COVID-19 vaccinations and easing of restrictions. Spanx made between $50 million and $80 million in operating earnings on revenue of $300 million to $400 million over the past year, the NYT report said.
Persons: Spanx, Goldman Sachs, New York Times ’, Carlyle, Sara Blakely, Kim Kardashian West Organizations: New York Times Locations: United States
Sri Lankan shares end higher, book fifth straight weekly gain
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.93   time to read: +1 min
June 25 (Reuters) - Sri Lankan shares ended higher on Friday, recording their fifth straight weekly gain, helped by a surge in financials stocks. * Lender LOLC Development Finance surged 25% to record its eighth straight session of gains and was the top boost to the index. * The island nation has fully vaccinated only 3.98% of its population so far, Johns Hopkins data here showed on Friday. * Foreign investors were net sellers in the equity market, offloading shares worth 67.1 million rupees, exchange data showed here. * Equity market’s turnover was 1.2 billion rupees, according to exchange data.
Persons: Johns, Nallur, Aditya Soni Organizations: LOLC Development Finance, Equity Locations: Sri, Sri Lanka, Johns Hopkins, Bengaluru
Officer Michael Fanone has said for weeks that he wanted to meet with McCarthy, who has opposed a commission and remained loyal to former President Donald Trump. Trump supporters clash with D.C. Metropolitan Police Officer Michael Fanone at the U.S. Capitol on Jan. 6, 2021. Brian Sicknick collapsed and died after engaging with the mob; a medical examiner ruled that he died of natural causes. Seven people died during and after the rioting, including Babbitt and three other Trump supporters who died of medical emergencies. In addition to Sicknick, two police officers died by suicide in the days that followed.
Persons: WASHINGTON, Kevin McCarthy, Michael Fanone, McCarthy, Donald Trump, Joe Biden’s, Trump, Shannon Stapleton, Nancy Pelosi, Fanone, Harry Dunn, Gladys Sicknick, Brian Sicknick, Trump’s, Dunn, Pelosi, “ Jan, ” Pelosi, , Chuck Schumer, hadn’t, Ashli Babbitt, , Babbitt Organizations: Republican, Capitol, D.C, Metropolitan Police, U.S, Reuters, Republicans, Capitol Police, Seven Republican, GOP, Trump, U.S . Capitol Police
U.K. Health Minister Matt Hancock apologizes over photo of him kissing his top aide
  + stars: | 2021-06-25 | by ( ) www.nbcnews.com sentiment -1.00   time to read: +2 min
LONDON — Britain's Health Minister Matt Hancock apologized on Friday and accepted he had breached social-distancing guidance after a tabloid newspaper published a picture of him kissing and embracing his top aide in his office. I have let people down and am very sorry," Hancock, who is married, said in a statement. The Sun said the picture of Hancock and the aide was taken last month. The Rupert Murdoch-owned tabloid 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 U.K. broadcaster Sky News that "very strict rules" were in place.
Persons: Matt Hancock, Hancock, Rupert Murdoch, Grant Shapps, Shapps Organizations: Britain's, Sun, Reuters, Oxford University, NBC, Labour Party, Ministers, Labour, Transport, Sky
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
Dollar edges lower ahead of U.S. inflation data
  + stars: | 2021-06-25 | by ( Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El GhanyThe risk-sensitive Antipodean currencies rose, as did the euro, gaining 0.1% to $1.1943, and the Japanese yen, which rose by about the same margin to 110.77 per dollar. “...The consensus is already expecting quite a large increase in the May PCE inflation data - looking for 3.9% YoY headline and 3.4% YoY core,” said strategists at ING in a note to clients. The Australian dollar rose 0.2% to $0.7595.
Persons: Mohamed Abd El Ghany, , John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: REUTERS, Federal Reserve, Reuters, ING, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: Europe, Cairo, Egypt, New, Asia, U.S, Mexico
REUTERS/Brendan McDermidSummary Nike, big banks set to boost DowFedEx slips after missing 2022 earnings forecastFutures up: Dow 0.42%, S&P 0.17%, Nasdaq 0.17%June 25 (Reuters) - The S&P 500 and the Nasdaq were set for record highs at open on Friday, following robust earnings forecast from Nike, while weaker-than-expected inflation data eased worries about monetary policy tightening in the near term. Inflation has been front-and-center of investors' minds, with latest personal consumption expenditures (PCE) data showing a measure of underlying inflation rose less than expected in May. Construction and mining equipment maker Caterpillar (CAT.N), farm-equipment maker Deere (DE.N) and aerospace firm Boeing (BA.N) all edged higher. ET, Dow e-minis were up 144 points, or 0.42%, S&P 500 e-minis were up 7.25 points, or 0.17%, and Nasdaq 100 e-minis were up 23.75 points, or 0.17%. Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Chris Zaccarelli, Joe, Jerome Powell, hawkish, Morgan Stanley, Wells, Devik Jain, Medha Singh, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nike, Dow FedEx, Dow, Nasdaq, Core PCE, Independent, Alliance, Caterpillar, Deere, Boeing, Bank of America, Nike Inc, Citigroup, JPMorgan, Fed, Dow e, FedEx Corp, United Parcel Service Inc, CarMax Inc, Russell, Thomson Locations: Bengaluru
MEXICO CITY, June 25 (Reuters) - Mexico is facing an “unprecedented situation” in terms of the shocks affecting inflation due to the COVID-19 pandemic and future interest rate moves will depend on the evolution of inflation, said Bank of Mexico Governor Alejandro Diaz de Leon. “Despite having a negative product gap, we are seeing multiple upward revisions in prices, shortages in different inputs and that’s because of COVID, not because of the economy’s traditional cyclical behavior,” said Diaz de Leon. “We’re in an unprecedented situation in terms of the shocks that are affecting inflation.”Diaz de Leon, whose term as governor concludes at the end of 2021, said the rate hike would contribute to bringing inflation towards the bank’s 3% target, plus or minus one percentage point. With Mexican consumer prices rising 6.02% in the year through the first half of June, Banxico now expects headline inflation to converge to its target during the third quarter of 2022. Banxico’s board deliberately avoided giving guidance on future monetary policy actions because future rate moves will depend on the evolution of inflation, and Thursday’s rate decision was fundamentally aimed at avoiding contaminating inflation expectations and the price formation process, Diaz de Leon said.
Persons: Alejandro Diaz de Leon, Banxico’s, Diaz de Leon, , , ” Diaz de Leon, Banxico, Anthony Esposito, Mark Potter Organizations: MEXICO CITY, Bank, Mexico, Bank of, Reuters Locations: MEXICO, Mexico, United States, Bank of Mexico
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds details, updates prices)June 25 (Reuters) - Euro zone bond yields edged up on Friday ahead of U.S. inflation data that will give the latest steer on price pressures as economies bounce back from the coronavirus slump. Following a hefty sell-off last week after U.S. Federal Reserve policymakers brought forward their first projected rate hike to 2023 from 2024, euro zone bond markets calmed this week as they adapted to the Fed’s messaging. With little data coming out of the single currency bloc, euro area bond yields were steady in early Friday trade. In the primary market, Italy raised 3.75 billion euros from the auction of a bond due Nov 2022 and an inflation-linked 30-year bond in an auction. Southern European bond yields rose and Italian bonds underperformed the market, with 10-year yields up nearly 3 basis points to 0.89% as investors digested further Italian supply.
Persons: , Michael Leister, Isabel Schnabel Organizations: Federal Reserve, Reuters, , U.S, Southern, European Central Bank Locations: Italy
Black Voters Matter has embarked on what the national advocacy and policy group has christened a Freedom Ride for Voting Rights. Its goals, BVM co-founders LaTosha Brown and Cliff Albright note, are threefold: to amplify the need for federal voting rights legislation, build Black voting power, and advocate for Washington, D.C., statehood. People gather during the launch of the "Freedom Ride for Voting Rights" in Jackson, Miss., on June 19, 2021. Founded in 1869, the historically Black college became one of the epicenters of the civil rights movement. “Amen!”Barbara Arnwine, a lawyer, updated the crowd on voting rights legislation before Congress.
Persons: JACKSON, , they’ve, , Woodrow Wilson, BVM, LaTosha Brown, Cliff Albright, , Brown, Albright, Eric J, shelton, Medgar Evers, Martin Luther King Jr, Fannie Lou Hamer, Stokely Carmichael, Julian Bond, Tougaloo, Shelton, John Lewis, James Farmer, James Brown, Pastor Wendell Paris Sr, Isaiah, Kathy Sykes, Barbara Arnwine, Holder, Arnwine, , We’ve, ” Brown, You’ve, Dustin Chambers, Reuters Albright, “ Nat Turner, Harriet Tubman, “ ashe ”, they’re, We’re, Fred Shuttlesworth, Addie Mae Collins, Carole Robertson, Cynthia Wesley, Denise McNair —, Kelly Ingram, King, Randall Woodfin, Novella Paige Organizations: Miss, Black Voters, Woodrow, Tougaloo College, Washington, D.C, Republican, Reuters, Washington , D.C, Freedom Riders, NAACP, Riders, Racial, . Riders, Greyhound, Owens Health, Wellness Center, John Lewis Voting, Coalition, Ebenezer Baptist Church, Student Nonviolent, Southern Christian Leadership Conference, Birmingham Civil Rights Institute, Baptist Church, Ku Klux Klan, Kelly Ingram Park, Capitol, Republicans, American, Facebook, Twitter Locations: America, Georgia, , Selma, Alabama, Bronx, New York City, Jackson, Miss, Gulf, Carolinas , Tennessee, Virginia, West Virginia, Washington ,, Paris, Mississippi, Shelby, Washington, Ebenezer, Atlanta, Birmingham , Alabama, Birmingham, Tennessee
UEFA probes discrimination during Germany v Hungary Euro 2020 game
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
UEFA did not give details of the incidents at the match, which was played in Munich on Wednesday. UEFA said in a statement that it had appointed an ethics and disciplinary inspector to investigate the matter. read moreThis came after UEFA refused a request from Munich's mayor for the stadium to be lit in rainbow colours for the game in protest at an anti-LGBTQ law in Hungary. Last weekend, UEFA also opened an investigation into Hungary's matches against Portugal and France in Budapest. Ahead of Hungary's match against France, Hungarian fans marched to the Puskas Arena displaying a banner calling on players to stop taking a knee to protest racism.
Persons: Matthias Hangst, Leon Goretzka, Dieter Reiter, Gay, Manasi Pathak, Toby Davis Organizations: Soccer Football, Football Arena Munich, REUTERS, UEFA, Wednesday, England, Portugal, Lesbian, France, Puskas, Thomson Locations: Germany, Hungary, Munich, France, Budapest, Hungarian, Bengaluru
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 Paris Club agreement over a “bridging” period until next year means Argentina will avoid a damaging default next month. It came with a commitment to strike a deal with the IMF by March 31 to revamp repayments it cannot make. The Paris Club, which has a long history with Argentina, includes among its members the United States, Germany, Brazil and Japan, which are also members of the IMF. The IMF on Thursday said it welcomed Argentina’s deal with the Paris Club, though it had no timeline currently for a new agreement. Some analysts said that even with an IMF deal, Argentina’s problems would persist, with rising poverty levels, runaway inflation and tight capital controls still in place.
Persons: , Siobahn Morden, Amherst Pierpont, Economy Minister Martin Guzman, Cristina Fernandez de Kirchner, Argentina’s, Nikhil Sanghani Organizations: BUENOS AIRES, Paris Club, International Monetary Fund, The, The Paris Club, IMF, Economy Minister, Peronist, The Paris, Capital Economics Locations: BUENOS, The Paris, Argentina, Amherst, Paris, Argentina’s, United States, Germany, Brazil, Japan, Buenos Aires
FREMONT, California, June 25 (Reuters) - Self-driving tech company Pony.ai, backed by Toyota Motor Corp, is considering going public in the United States to help fund its goal of commercializing driverless ride-hailing services, its chief executive told Reuters. “We’re still debating and considering,” said Peng, when asked about the time frame for a public share sale. Earlier this month, it said it had begun driverless testing on public roads in California’s Fremont and Milpitas ahead of the planned launch of a robotaxi service next year. It has also been testing driverless vehicles in Guangzhou, China. He said the next big challenge is to reduce manufacturing costs for driverless vehicles while expanding into more cities and regions and ensuring safety in different environments.
Persons: Motors Co’s, James Peng, , Lawrence Steyn, “ We’re, Peng, “ It’s, ” ROBOTAXI, Lou Tiancheng, Hyunjoo Jin, Christopher Cushing Organizations: Toyota Motor Corp, Reuters, Motors, JPMorgan Chase &, Google, Baidu Inc, Toyota Locations: FREMONT, California, United States, China, California’s Fremont, Milpitas, Guangzhou, Irvine , California
Taiwan, U.S. to hold long-stalled trade talks next week
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +2 min
TAIPEI (Reuters) - Taiwan and the United States will hold trade talks next week, the de facto U.S. embassy in Taipei said on Friday, resuming long-stalled discussions as Washington seeks to deepen its support for the Chinese-claimed island. FILE PHOTO: Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. The Office of the U.S. Trade Representative and Taiwan’s Office of Trade Negotiations will serve as the “chief consultants” for the talks, it added. Taiwan had been cautiously optimistic about resuming the high level trade talks with Washington this year after U.S. Secretary of State Antony Blinken signalled a possible resumption this month. While Taiwan is a member of the World Trade Organization, many countries are wary of signing trade deals with the tech powerhouse fearing objections from China, though Taiwan does have free trade deals with Singapore and New Zealand.
Persons: Tyrone Siu, Barack Obama, Donald Trump’s, Robert Lighthizer, Brent Christensen, Hsiao, , Antony Blinken, Biden Organizations: U.S, REUTERS, Tyrone Siu The Trade, American Institute, U.S . Trade, Taiwan’s, Trade, World Trade Organization, New Zealand, Washington Locations: TAIPEI, Taiwan, United States, Taipei, Washington, U.S, China, Beijing, Singapore, New
PRECIOUS-Gold gains on dollar dip, while focus turns to inflation
  + stars: | 2021-06-25 | by ( Arundhati Sarkar | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold gained 0.4% to $1,783.02 per ounce at 0910 GMT, and was up over 1% for the week. While the weaker dollar is helping, gold is struggling to regain investor confidence after last week’s U.S. Federal Reserve meeting, Commerzbank analyst Daniel Briesemann said. A surprise hawkish tilt from the Fed had driven a sharp slide in bullion. However, the spending plan should be positive for gold, as it has to be financed to a large extent with higher debt, Briesemann added. Progress on the plan weighed on the dollar index, making gold cheaper for those holding other currencies, ahead of U.S. producer price data that could paint a clearer picture on rising inflation.
Persons: Daniel Briesemann, Briesemann, Jerome Powell, Giovanni Staunovo, Arundhati Sarkar, Alexander Smith Organizations: U.S, Federal Reserve, Fed, UBS Locations: Bengaluru
Lower U.S. Treasury yields make emerging market currencies look more attractive. In Europe, Hungary’s central bank was the first to kick off a hiking cycle, having raised rates by 30 basis points to 0.9%. The Czech crown was set to add 1.1% this week after the central bank raised rates by 25 basis points to 0.50%. Argentine markets were in focus after MSCI said it will reclassify its Argentina index to Standalone Markets status, from Emerging Markets, citing issues over strict capital controls. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see
Persons: , Commerzbank, MSCI Organizations: U.S . Federal Reserve, Treasury, Fed, Emerging, JPMorgan, CENTRAL Locations: Hungarian, Argentina, Europe, East, Africa, Lower U.S, Czech, Philippine, Thai, Moscow, outflows
HK stocks end higher on tech, materials boost; post weekly gains
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +2 min
** The Hang Seng index ended up 405.76 points or 1.4% at 29,288.22. The Hang Seng China Enterprises index rose 1.88% to 10,878.45. ** Leading the gains, the Hang Seng tech index and the Hang Seng materials index climbed 2.4% and 3.3%, respectively. ** The sub-index of the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 3.1%, the financial sector ended 0.75% higher and the property sector rose 0.18%. ** The top gainer on the Hang Seng was Meituan, which gained 4.76%, while the biggest loser was Sunny Optical Technology Group Co Ltd, which fell 1.58%.
Persons: HSI, Jerome Powell, Biden Organizations: HK, Shanghai, Stock, Seng China Enterprises, Optical Technology, Co, Hong, U.S . House, Representatives Foreign, Silicon Industry Locations: Shanghai, China, Hong Kong, U.S, Beijing, Xinjiang
A broader dollar retreat and a bipartisan U.S. Senate deal on infrastructure spending also boosted emerging assets, with the Thai baht strengthening from a 13-month low hit on Thursday. The country has also approved the emergency use of the COVID-19 vaccine developed by Indian vaccine developer Bharat Biotech, and will receive a million doses of AstraZeneca Plc's COVID-19 vaccine from Japan. The baht had skidded lower after Thailand's central bank on Wednesday downgraded annual growth forecasts and pledged an accommodative policy stance Political uncertainty is also weighing. Hundreds of pro-democracy protesters took to the streets on Thursday, calling for the prime minister to resign. Jakarta stocks rose nearly 1% to snap two sessions of losses, while Malaysian shares registered their best session in a week.
Persons: Soumyajit Saha, Ruben Carlo O, AstraZeneca Plc's, South Korea's, Joe Biden, Rashmi Aich Organizations: Senate, ng Pilipinas, The Union Bank of, Bharat Biotech, AstraZeneca, AstraZeneca Plc's COVID, South, Malaysian Locations: Malaysia, U.S, Manila, Asuncion, Philippines, Japan, Asia, Jakarta, China, India, Indonesia, Singapore, Taiwan, Thailand, Bengaluru
Column: Only half time in public debt match
  + 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: Michael Oliver, Lars Baron, stokes, what’s, , busily, Christian Keller, Akash Utsav, , that’s, PIMCO’s Tiffany Wilding, Andrew Balls, Sebastian Becker Organizations: Soccer Football, Saint Petersburg, REUTERS, European, Barclays, JPMorgan, Deutsche Bank, Deutsche, Reuters Locations: Sweden, Poland, Saint Petersburg, Russia, hove, Britain, Cornwall, CORNWALL, U.S, United States, France, Italy, Germany
NeXtWind buys three German onshore wind parks, looks for more
  + stars: | 2021-06-25 | by ( Vera Eckert | ) www.reuters.com sentiment -1.00   time to read: +2 min
FRANKFURT (Reuters) - Investment firm NeXtWind said on Friday it had bought three onshore wind parks in northern Germany with a combined capacity of 70 megawatts (MW), a first step in its plan to invest in maturing German wind power assets. The company aims to extend the life of green power assets, where subsidies are ending, and, where possible, raise their capacity. NeXtWind plans to triple the sites’ current annual output to around 300 gigawatt hours (GWh) a year by between 2024 and 2026. The turbines’ output will be marketed under fixed price deals called power purchase agreements (PPAs), which are becoming popular among utilities’ trading arms and corporate consumers keen on becoming greener. By 2025, up to 16 GW of German green power capacity will lose subsidy status under 20-year fixed price guarantees that are being replaced with an auction-based system.
Persons: NeXtWind, Lars Meyer, Organizations: Crestline Investors, Investment Partners, Reuters Locations: FRANKFURT, Germany, Europe, Lower Saxony, Saxony, Anhalt
Sterling set for worst month vs dollar since September
  + stars: | 2021-06-25 | by ( Joice Alves | ) www.reuters.com sentiment -1.00   time to read: +2 min
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, June 25 (Reuters) - Sterling edged lower on Friday and was on track for its worst month versus the dollar since September after the Bank of England kept its policy unchanged. Investors had hoped a more optimistic economic assessment from the BoE would push sterling back towards $1.40. Sterling was down 0.1% versus the dollar at $1.3910 at 0824 GMT, and it was on track for its worst month against the greenback since September 2020. Earlier this month, sterling dropped below $1.38 against a strengthening dollar after the U.S. Federal Reserve surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected. Versus the euro, the pound was 0.2% lower at 85.84 pence, but was still set for a weekly gain.
Persons: BoE, Sterling, Joice Alves, Pravin Char Organizations: Sterling, Bank of England, ING, Investors, U.S . Federal Reserve, European Union Locations: Britain, England, British, Northern Ireland, EU
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
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