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MOSCOW — 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. Russia claims the U.K.'s HMS Defender violated its border near Cape Fiolent in Crimea on Wednesday. "Washington and London are denying reality... they are trying to provoke conflict," he said. It confirmed a British destroyer, HMS Defender, had sailed through what it described as waters belonging to Ukraine. The British embassy in Tbilisi, the Georgian capital, wrote on Twitter on Friday that HMS Defender was set to arrive in the port city of Batumi on the eastern coast of the Black Sea.
Persons: Britain, Sergei Ryabkov, Ryabkov Organizations: British, Russian Federal Security Service, TASS Russia, NBC, HMS, Twitter, Russia's Defence Ministry Locations: MOSCOW, Russia, United States, Moscow, Britain, Crimea, Russian, Washington, London, Cape Fiolent, Ukraine, British, Tbilisi, Batumi, Syria's
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
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
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
WASHINGTON — Vice President Kamala Harris, after weeks of pressure from her political opponents, will visit the U.S.-Mexico border Friday, as part of her role addressing the root causes of migration. "[Harris' trip to the border] is really about building on the work that she has been doing. Republicans criticized Harris' decision to visit El Paso rather than other parts of the state like, the Rio Grande Valley, which see significantly more border crossings. Although partisan politics are likely to hang over Harris' trip Friday, she will also be forced to confront major policy issues. Rohini Kosoglu, domestic policy adviser to the vice president and one of Harris' longest serving aides, said that Harris "has spent her career fighting for immigrants."
Persons: WASHINGTON, Kamala Harris, Harris, Alejandro Mayorkas, Sen, Dick Durbin, Veronica Escobar, Sanders, Joe Biden, , Donald Trump, Greg Abbott, Jen Psaki, Abbott, El Paso, Trump, Biden, Tyler Moran, Rohini Kosoglu Organizations: El, El Paso Central Processing Center, Customs, Protection, Department of Homeland, Republicans, NBC, Texas Gov, House Republican, White, Republican, Biden, Domestic Locations: U.S, Mexico, El Paso, Illinois, Texas, Central America, Guatemala, Europe, Rio Grande, El, California, United States, Covid
"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
Didi's $4 billion U.S. IPO fully covered - sources
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A man is seen under a Didi logo at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. REUTERS/Florence Lo/File PhotoHONG KONG (Reuters) - Didi Global Inc’s initial public offering (IPO) to raise up to $4 billion in the United States has been covered on the first day of its bookbuild, according to four sources with direct knowledge of the matter. The sources could not be named as the information has not yet been made public. Didi did not immediately respond to a request for comment.
Persons: Didi Chuxing, Florence, Didi Global, Didi Organizations: REUTERS, KONG, Reuters Locations: Beijing, China, United States
FILE PHOTO: 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. But many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.
Persons: Arnd, Antonio Horta, Osorio, , FINMA, , Ralph Hamers, Christian Sewing Organizations: UBS, Swiss, Credit Suisse, REUTERS, Greensill Capital, Suisse, Reuters, Germany’s Deutsche Bank, Deutsche, Deutsche Bank Locations: ZURICH, Bern, Switzerland, Swiss, Zurich, Washington, United States
(Adds comment from Rakuten Securities)June 25 (Reuters) - Shareholders voted out the chairman of the board of Toshiba Corp and one other director on Friday in a stinging rebuke after the company was found to have colluded with the government in suppressing foreign investor interests. Following are comments on the vote, seen by many as a big win for corporate governance in Japan. “We welcome the recent changes to the Board because we are optimistic about the future and Toshiba’s potential. “The AGM proxy materials nominated 13 directors, but only nine were elected. It is not clear who will be chairperson of the board, or who will chair and serve on the all-important nominations committee, which has now lost two members.
Persons: MASAYUKI KUBOTA, Nagamori, ” JUSTIN TANG, ” NICHOLAS BENES, ” HIROSHI KAJIYAMA Organizations: Rakuten Securities, Toshiba Corp, Toshiba, Nidec, TOSHIBA’S SECOND, Board, UNITED FIRST, SINGAPORE, OF JAPAN Locations: Japan
SYDNEY, June 25 (Reuters) - The Australian and New Zealand dollars rose for a fifth consecutive session on Friday and were on track for solid weekly takings, as analysts predict further gains in the period ahead led by strong commodity prices and still-buoyant risk appetite. The Australian dollar was last up 0.1% at $0.7594 after hitting a near six-month trough of $0.7478 earlier this month. For the week, the Aussie is so far up 1.5%, its best weekly performance since early-May. For the week, the kiwi was up more than 2% so far, on track for its best weekly showing since November 2020. Australian government bond futures nudged lower too, with the three-year bond contract off 2 ticks at 99.50.
Persons: Organizations: SYDNEY, New, National Australia Bank, New Zealand Locations: New Zealand, United States, New
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
Florida condo collapse: Family, friends of the missing cling to hope
  + stars: | 2021-06-25 | by ( ) www.nbcnews.com + 0.00   time to read: +4 min
SURFSIDE, FLA. — As crews worked through the night searching for nearly 100 people unaccounted for after the collapse of a 12-story condo building in Florida, their loved ones clung to hope. The doctor, singer and their daughter, who Fernadez called exceptional people, were in Florida to escape the Covid-19 pandemic in Argentina. Rubble hangs from a partially collapsed building in Surfside north of Miami Beach, on June 24, 2021. Moreno got a call from another friend around 6 a.m. Thursday, asking if he had heard about the collapse. Moreno realized it was his friend's building, but it wasn't until he called his friend's sister that he learned he was missing.
Persons: , Nicholas Fernandez, Fernadez, Eva Marie Uzcategui, it's, Alan Cominsky, Daniella Levine Cava, Rolando Moreno, Moreno, Silvana López Moreira, Euclides Acevedo, Jenny Urgelles, Ron DeSantis, Joe Biden, Pablo Rodriguez, Rodriguez, creaking, weren't Organizations: Miami Beach, Getty, Dade Fire, Dade, NBC Miami Locations: FLA, Florida, Argentina, Surfside, Miami, AFP, Dade County, Paraguay, United States, South Florida, recertification
FBI feared Pennsylvania would seize fabled gold, court docs show
  + stars: | 2021-06-25 | by ( ) www.nbcnews.com + 0.00   time to read: +6 min
The AP and The Philadelphia Inquirer petitioned a federal judge to unseal the case. Federal prosecutors did not oppose the request, and the judge agreed, paving the way for Thursday’s release of documents. The contractor detected an underground mass that weighed up to nine tons and had the density of gold, the affidavit said. Archer said that a turtle carving found on a rock near the proposed dig site was “very likely ... a KGC marker for that site." He noted the warrant granted by U.S. Magistrate Judge Richard Lloret gave FBI agents permission to dig from 6 a.m to 10 p.m.
Persons: Jacob Archer, Archer, , DCNR, corruptly ”, Archer wasn’t, Kem Parada, Bill Cluck, Richard Lloret, Warren Getler, ” Dennis Parada, Organizations: FBI, Associated Press, AP, Philadelphia Inquirer, ., Pennsylvania Department of Conservation, Resources, Commonwealth, Department of Conservation, Natural Resources, U.S . Mint, Knights, Union Army, U.S Locations: Pennsylvania, Philadelphia, United States, Elk County
For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. According to one Toshiba source, foreign investors had voted in greater numbers than in the company's previous shareholder meetings as they saw it as an important test case of corporate governance in Japan. 1/4 Toshiba Corp. Board of Directors Chairperson Osamu Nagayama attends a news conference in Tokyo Japan June 14, 2021, in this handout photo taken and released by Toshiba Corporation. Nagayama's ouster could help activist shareholders push the company to consider take-private offers. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place.
Persons: Justin Tang, Osamu Nagayama, Satoshi Tsunakawa, Hiroshi Kajiyama, Akira Amari, Nagayama, Japan John Roos, Glass Lewis, Nobuyuki Kobayashi, Makiko Yamazaki, Tim Kelly, Edwina Gibbs Organizations: Toshiba Corp, Toshiba, United First Partners, Trade, Toshiba Corporation, Handout, REUTERS, Liberal Democratic Party, Capital, Pharmaceutical, Sony Group Corp, Services Inc, Investment Partners, Toshiba's, Investment, Thomson Locations: TOKYO, Japan, Singapore, Tokyo Japan, U.S, Toshiba's Singapore
Why is there a water pit? When the race was modernized, the walls were simulated with hurdles and the rivers and creeks were simulated with the water pit. According to the IAAF, the modern 3,000-meter steeplechase track event — with the barriers and the water pit — first originated at Oxford University in the mid-19th century. Today, the race features five barriers: four hurdles plus the barrier before the water pit. The water pit, meanwhile, is 12 feet long for both.
Persons: Kai Pfaffenbach, it's Organizations: Business, Service, IAAF, Oxford University, Reuters Locations: Rio, United Kingdom, Beijing
Trump made a statement on Thursday in support of his former personal lawyer Rudy Giuliani. Trump called Giuliani the "Eliot Ness" of his generation, and "one of the greatest crime fighters" in the US. Giuliani's license to practice law in New York was suspended after a court ruled he made false statements about the election. "Can you believe that New York wants to strip Rudy Giuliani, a great American Patriot, of his law license because he has been fighting what has already been proven to be a Fraudulent Election?" Trump also praised Giuliani, calling him the "Eliot Ness" of his generation and one of the "greatest crime fighters" the US has ever known.
Persons: Trump, Rudy Giuliani, Giuliani, Eliot Ness, Donald Trump, Ness, Al Capone's, Giuliani's, " Organizations: Service, American Patriot, United, Voting Systems, Reuters Locations: New York, York, Al Capone's Chicago, Philadelphia, Georgia
Lawmakers want to make COVID-19 vaccines available to Americans living abroad. Now a bipartisan group of lawmakers is urging the administration to help make vaccines available to the as many as 9 million Americans living abroad. "While Americans abroad are eligible to receive vaccines in some countries, in others, Americans are ineligible as non-citizens," the senators wrote. "Should Americans living abroad wish to travel to the US to receive the vaccine, the financial burden of travel as well as lengthy quarantine requirements upon return to their host country may be prohibitive." Accordingly, the senators wrote, "millions of Americans abroad worry they may not have access to a vaccine for months or even years."
Persons: Joe Biden's, Antony Blinken, Chris Murphy, Jerry Moran, Michael George DeSombre, Scott Brown, , Michael G, Hearh Organizations: State Department, Insider, Service, COVID, Sens, Republican, Reuters, Embassy Locations: United States, States, Connecticut, Kansas, Thailand, Thailand's
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
Travel writers make a career out of helping tourists navigate unfamiliar places. Here, CNBC's travel contributors share the biggest mistakes they see visitors make in the cities they call home. No matter if Google Maps shows your destination isn't far, take a taxi or the MRT [Mass Rapid Transit] train. —Christian Barker, AustraliaSeeing it all in New York City"New York is a vast destination with a litany of choices, and that makes any tourist's time in the city precious. I always wondered why visitors — be it tourists or business travelers — reduced the city to a shopping and dining paradise.
Persons: you'd, — Christian Barker, I've, , you've, You'll, Lady Liberty, — Tracy Kaler, Sheryl Nash, Nance, haven't, a.m, — Carrie Hutchinson, it's, — Chris Dwyer, Petra Loho, Nigel Killeen Organizations: of, Empire, Metropolitan Museum of Art, Jacobs Stock Photography, DigitalVision, Melbourne, Cote, Orient, Mass Transit Locations: Singapore, Australia, New York City, New York, Midtown, Brooklyn, Central, Manhattan, New, York, Ellis Island, , New York, United States, Jamaica, Rivers, Montego, Portland . Jamaica, Melbourne, Hong Kong, United Kingdom, Austria, Bangkok, Thailand
Shareholders vote out Toshiba board chairman in big win for corporate governance in Japan
  + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99   time to read: +1 min
Shareholders at crisis-ridden Toshiba voted out its board chairman and one other director on Friday, a forceful rebuke of the company after it was found to have colluded with the government in suppressing foreign investor interests. For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. The newly elected board will meet later on Friday to discuss who will head the new board. According to one Toshiba source, foreign investors had voted in greater numbers than in the company's previous shareholder meetings as they saw it as an important test case of corporate governance in Japan. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place.
Persons: Justin Tang, Osamu Nagayama, Nagayama Organizations: Toshiba, United First Partners Locations: Tokyo, Japan, Singapore
Oil keeps climbing on tight supply outlook, eyes on OPEC+
  + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99   time to read: +2 min
Cranes at an oil industry support facility in Port Fourchon, Louisiana, U.S., on Wednesday, April 21, 2021. Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August. Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week. "(The market) certainly has momentum behind it...It's really in the hands of OPEC+," said Commonwealth Bank commodities analyst Vivek Dhar. That's going to determine where oil prices go," Dhar said.
Persons: It's, Vivek Dhar, Dhar Organizations: . West Texas, Brent, Organization of, Petroleum, Commonwealth Bank, ANZ, U.S Locations: Port Fourchon , Louisiana, U.S, Russia, OPEC, United States, Europe, China, Iran
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