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June 25 (Reuters) - Canada’s main stock index fell on Friday, with BlackBerry Ltd leading declines following quarterly results, but the index was set for weekly gains. * At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 9.35 points, or 0.05%, at 20,205.77. * Canadian security software supplier Blackberry fell more than 2% in early trading, even after beating Wall Street estimates for quarterly revenue on Thursday. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Devika Syamnath)
Persons: Shreyashi Sanyal, Devika Syamnath Organizations: BlackBerry, Toronto Stock, Blackberry, Wall Locations: Bengaluru
Nike, FedEx, CarMax: What to Watch When the Stock Market Opens Today
  + stars: | 2021-06-25 | by ( James Willhite | ) www.wsj.com sentiment -0.96   time to read: 1 min
Resume SubscriptionWe are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.
Organizations: Wall Street
Japan stocks track Wall Street's solid finish to close week higher
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
The Nikkei share average rose 0.66% to close at 29,066.18, while the broader Topix advanced 0.80% to 1,962.65. For the week, the Nikkei gained 0.35% to climb just above the 29,000-mark, which market participants said has become a psychological barrier as Japan’s outlook of an economic recovery remains uncertain. “Today’s (Friday) market is tracking Wall Street’s strong gains. Technology stocks also advanced, with Tokyo Electron rising 0.7%, Advantest jumping 1.5%, Fanuc gaining 1.66%. Mazda Motor Corp, up 8.7%, gained the most on the Nikkei, followed by Kobe Steel rising 4.8%.
Persons: Dow, Joe Biden, “ Today’s, ” Shoichi Arisawa Organizations: Nikkei, Nasdaq, U.S, IwaiCosmo Securities, , Tokyo Stock, Panasonic, Toshiba, Mazda Motor Corp, Kobe Steel, Mitsui OSK Lines Locations: TOKYO, Japan, U.S, Tokyo
Consumers Are Back Out Spending, Driving the Recovery
  + stars: | 2021-06-25 | by ( Sarah Chaney Cambon | ) www.wsj.com + 0.85   time to read: +1 min
Consumers likely increased spending last month on services that they shunned earlier in the Covid-19 pandemic, helping fuel the broader economic recovery. Economists surveyed by The Wall Street Journal expect Friday’s Commerce Department report to show consumer spending rose 0.4% in May. They expect incomes fell 2.7% last month from April, as the boost faded from government stimulus checks sent out earlier in the year. Consumer spending is supported by rising vaccination rates and ample household savings from rounds of government stimulus when the pandemic restricted businesses and activities. Americans appear to be shifting their spending from big-ticket items to goods and services related to going out amid business reopenings.
Persons: , Jonathan Silver Organizations: Wall, Department, Affinity Solutions
Japanese shares track Wall St higher, cautious outlook caps gains
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
TOKYO, June 25 (Reuters) - Japanese shares rose on Friday, led by cyclical and technology stocks, as markets tracked a strong finish on Wall Street, although the gains were capped by a cautious outlook of U.S. equities and worries around the domestic economy’s recovery. “Today’s (Friday) market is tracking Wall Street’s strong gains. Technology stocks also advanced, with Tokyo Electron rising 0.99%, Advantest jumping 2.0%, Fanuc gaining 0.46%. Nikkei’s 29,000-mark has become a psychological barrier as Japan’s outlook of an economic recovery remains uncertain, market participants said. Mazda Motor Corp, up 6.35%, gained the most on the Nikkei, followed by Panasonic and Fujikura which rose 3.91%.
Persons: Dow, Joe Biden, “ Today’s, , Shoichi Arisawa Organizations: Nikkei, Nasdaq, U.S, IwaiCosmo Securities, , Tokyo Stock, Panasonic, Mazda Motor Corp, Eisai, Mitsui OSK Lines, Nippon Yusen Locations: TOKYO, Japan, U.S, Tokyo
Starbucks isn't running out of coffee or cups, CEO Kevin Johnson told CNBC. The restaurant industry is being hit by rising ingredient costs amid supply chain problems. The CEO of Starbucks insisted the chain wasn't running low on coffee and cups – but said some baked goods were in short supply. "We've had some shortages in the bakery case, that certainly is true," CEO Kevin Johnson told CNBC's Jim Cramer Thursday. But Starbucks has "no shortage of cups, no shortage of coffee," Johnson said.
Persons: Kevin Johnson, We've, CNBC's Jim Cramer, Insider's Mary Meisenzahl, baristas, Johnson, Read, fryer, Chipotle Organizations: Starbucks, CNBC, Wall Street Journal Locations: DoorDash, Southern California, Jersey
Good morning and welcome to Insider Finance. If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals. Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
Persons: I'm Dan DeFrancesco, here's what's, PwC Organizations: Finance
Wall Street points to a higher open after Thursday's rally
  + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.97   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street points to a higher open after Thursday's rallyU.S. stock futures rose on Friday with the S&P 500 headed for its best week since April in a comeback from last week's swoon induced by worries about a tighter Federal Reserve. CNBC's Kristina Partsinevelos reports.
Persons: CNBC's Kristina Partsinevelos
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
That's the fastest increase since the early 1990s, reflecting the rapid pace of U.S. economic expansion and resulting price pressures. (CNBC)The bipartisan infrastructure compromise includes $579 billion in new spending, with $312 billion of those funds going to transportation projects such as roads, bridges and trains. The plan also puts $266 billion into nontransportation infrastructure, including power, water and broadband internet. He was convicted of second-degree unintentional murder, third-degree murder and second-degree manslaughter. Didi anticipates pricing shares between $13 and $14 each, which would value the company at more than $60 billion.
Persons: Biden, Derek Chauvin, George Floyd's, Donald Trump, Nancy Pelosi, Rudy Giuliani, Michael Colglazier, Didi Organizations: Federal, CNBC, Democratic, Capitol, Authorities, Former Minneapolis, Police, NBC, U.S, New, Virgin, FAA, Virgin Galactic, New York Stock Exchange Locations: Miami, Surfside, America, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with former Fed nominee Judy Shelton on inflation, monetary policy, crypto and moreJudy Shelton, former Federal Reserve Board nominee and author of "Money Melton: Restoring Order to the Global Currency System," joined "Squawk Box" on Friday to discuss her latest piece for the Wall Street Journal about inflation, how the markets are reacting to the Fed, cryptocurrency and more.
Persons: Judy Shelton, Melton Organizations: Federal Reserve, Global, Wall Street
Former Fed nominee Judy Shelton on best tactics to fight inflation
  + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.51   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed nominee Judy Shelton on best tactics to fight inflationJudy Shelton, former Federal Reserve Board nominee and author of "Money Melton: Restoring Order to the Global Currency System," joined "Squawk Box" on Friday to discuss her latest piece for the Wall Street Journal about inflation and monetary policy.
Persons: Judy Shelton, Melton Organizations: Federal Reserve, Global, Wall Street
The MSCI world equity index (.MIWD00000PUS) rose 0.51%, nosing toward record highs hit earlier in June. In Europe, the STOXX 600 (.STOXX) gained 0.87%, ending near an all-time high set earlier this month after news that German business morale hit its highest in 2-1/2 years. read moreInvestors are now pricing the first full U.S. interest rate rise for February 2023, compared with December 2022 previously. The greenback eased against the Japanese yen but held near a 15-month high of 111.11 touched earlier in the session. Oil prices were up, hovering near the previous session's three-year highs set amid drawdowns in U.S. inventories and accelerating German economic activity.
Persons: DAX, Kai Pfaffenbach, BoE, Joe Biden, Mike Loewengart, Germany's Ifo, Jerome Powell, Brent, Tom Arnold, Swati Pandey, Richard Pullin, Emelia, William Maclean Organizations: Deutsche, REUTERS, U.S ., Bank of England, Nasdaq, Tesla, Dow Jones, Japan's Nikkei, Stock, Federal, Treasury, JPMorgan, U.S, Reuters, Thomson Locations: Frankfurt, Germany, Washington, Europe, Asia, Pacific, Japan, Europe's, United, London, Sydney
Building North of Miami Beach Collapses, Killing One
  + stars: | 2021-06-24 | by ( ) www.wsj.com sentiment -0.96   time to read: 1 min
Resume SubscriptionWe are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.
Organizations: Wall Street
Windows 11: A Guide to Microsoft’s Next Big Release
  + stars: | 2021-06-24 | by ( Joanna Stern | ) www.wsj.com sentiment -0.96   time to read: 1 min
Resume SubscriptionWe are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.
Organizations: Wall Street
A Tropical Modern Home in Miami Beach
  + stars: | 2021-06-24 | by ( ) www.wsj.com sentiment -0.96   time to read: 1 min
Resume SubscriptionWe are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.
Organizations: Wall Street
Deutsche Bank Overhauls Anti-Financial Crime Operations
  + stars: | 2021-06-24 | by ( Dylan Tokar | ) www.wsj.com + 0.00   time to read: +4 min
Deutsche Bank in recent years has been hit with a series of large fines in the U.S. and the U.K., including over weakness in anti-money-laundering controls. The reorganization comes after Deutsche Bank in March transferred responsibility for its compliance functions to Mr. Simon from its chief risk officer. Deutsche Bank declined to make an executive available for an interview about the changes. Deutsche Bank also is moving to consolidate its interactions with regulators. The changes place Deutsche Bank in line with how other multinational banks are giving attention to anti-money-laundering compliance, Mr. Greene added.
Persons: Stefan Simon, Simon, Mr, , Joe Salama, Salama, Jeffrey Epstein, Carlton Greene, Crowell, Moring, ” Mr, Greene, Dylan Tokar Organizations: Deutsche Bank AG, Deutsche Bank, Wall Street Locations: U.S, Frankfurt
John McAfee’s Death Was Likely Suicide, Spanish Authorities Say
  + stars: | 2021-06-24 | by ( Giovanni Legorano | ) www.wsj.com sentiment -0.99   time to read: +1 min
Spanish authorities opened an investigation into the death of software pioneer John McAfee after he was found dead in his jail cell from an apparent suicide. Mr. McAfee, the 75-year-old founder of antivirus software company McAfee Corp., had been detained in Spain since October in connection with criminal charges filed by the Justice Department’s tax division. “Everything points that it could be a death by suicide,” a spokeswoman for the Justice Department of the Catalan regional government told The Wall Street Journal Thursday. The spokeswoman said that a local judicial delegation is investigating the cause and circumstances of Mr. McAfee’s death and took his body away from the jail to carry out an autopsy. Mr. McAfee’s body was found in his cell at around 7 p.m. local time on Wednesday.
Persons: John McAfee, McAfee, , McAfee’s Organizations: McAfee Corp, Justice Department of, Catalan, Wall, . Security Locations: Barcelona, Tennessee, Spain
AUSTIN, Texas—A freeway overpass shaded Elizabeth Contreras’s tent from the hot Texas sun, five years into a stretch of on-and-off homelessness that began when her husband left her, she said. Austin Police Officer Rosie Perez stopped by the tent last week with a written warning for Ms. Contreras: Within weeks, she would need to be gone. Police officers are beginning to enforce new city and statewide bans on public camping, after a two-year battle over Austin homeless policies. Amid a growth boom that accelerated the city’s affordability crisis, homelessness has increased and local shelters are mostly full. “You guys are asking ‘Where do I go?’ and I don’t have an answer for you,” Ms. Perez told Ms. Contreras.
Persons: Rosie Perez, Contreras, , Ms, Perez, Organizations: Austin Police, Police, , Homelessness Coalition, Austin City Locations: AUSTIN, Texas, Austin, West Coast
AUSTIN, Texas—A freeway overpass shaded Elizabeth Contreras’s tent from the hot Texas sun, five years into a stretch of on-and-off homelessness that began when her husband left her, she said. Austin Police Officer Rosie Perez stopped by the tent last week with a written warning for Ms. Contreras: Within weeks, she would need to be gone. Police officers are beginning to enforce new city and statewide bans on public camping, after a two-year battle over Austin homeless policies. Amid a growth boom that accelerated the city’s affordability crisis, homelessness has increased and local shelters are mostly full. “You guys are asking ‘Where do I go?’ and I don’t have an answer for you,” Ms. Perez told Ms. Contreras.
Persons: Rosie Perez, Contreras, , Ms, Perez, Organizations: Austin Police, Police, , Homelessness Coalition, Austin City Locations: AUSTIN, Texas, Austin, West Coast
Didi Sets Valuation Target of $62 Billion to $67 Billion in IPO
  + stars: | 2021-06-24 | by ( Corrie Driebusch | ) www.wsj.com sentiment -0.99   time to read: +1 min
Didi Global Inc., the Beijing-based ride-hailing company, is targeting a valuation of $62 billion to $67 billion in its IPO, according to its latest public filing. The fully diluted valuation, which typically includes restricted stock units, could eclipse $70 billion, people familiar with the matter told The Wall Street Journal. Didi, which recently changed its corporate name, has said it would use the money it raises to invest in technology, grow its business outside of China and introduce new products. Much like Uber Technologies Inc. in the U.S., China’s Didi operates a smartphone app where users can hail rides, regular taxis and carpooling services. Didi is known for successfully pushing Uber out of China, winning a harsh price war that ended in 2016 when Uber merged its China unit with Didi in exchange for a stake in Didi.
Persons: Didi, China’s Didi, Uber Organizations: Global Inc, Wall Street, Uber Technologies Inc Locations: Beijing, China, U.S
The MSCI world equity index was 0.1% higher, edging towards record highs hit earlier in June. Wall Street futures pointed to a stronger open a day after the tech-heavy Nasdaq closed at a record high. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% higher, recovering from a one-month trough touched earlier this week, while Japan’s Nikkei was unchanged. The dollar index, which measures the greenback against six rivals, was treading water at 91.734. Oil prices gained for a second day after a larger-than-anticipated drawdown in U.S. crude and gasoline stocks reaffirmed the outlook for robust fuel demand.
Persons: Jerome Powell Organizations: U.S ., Federal, REUTERS, Staff, Europe, Bank of England, Wall, Nasdaq, Japan’s Nikkei, Stock, U.S . Federal, Treasury, JPMorgan, U.S, ANZ, Brent Locations: SYDNEY, Frankfurt, Germany, Asia, Pacific, Japan, Europe, United
Stocks grind higher as investors ponder U.S. inflation signals
  + stars: | 2021-06-24 | by ( Tom Arnold | ) www.reuters.com + 0.00   time to read: +4 min
The MSCI world equity index was 0.1% higher, edging towards record highs hit earlier in June. Overnight, 10-year U.S. Treasury yields hovered below 1.5% in muted trading, while government bond yields in the euro area drifted higher. The dollar index, which measures the greenback against six rivals, was treading water at 91.773. The euro was a touch higher against the dollar, up 0.2% on the day at $1.19465. “The belief is that current levels of higher inflation are nothing more than transitionary and there is plenty of slack in the economy,” said Jon Hudson, fund manager of the Premier Miton UK Growth Fund.
Persons: Toby Melville, BoE, Ifo, Jerome Powell, , Jon Hudson Organizations: U.S, Federal, London Stock Exchange, REUTERS, Bank of England, Wall, Nasdaq, Japan’s Nikkei, Stock, U.S . Federal, Treasury, JPMorgan, ” Investors, Reuters, Premier Miton, Growth, drawdowns, Brent Locations: London, Britain, Europe, Asia, Pacific, Japan, United
SINGAPORE — Shares in Asia-Pacific struggled for direction in Thursday trade after the S&P 500 on Wall Street snapped its two-day winning streak overnight. Mainland Chinese stocks slipped as the Shanghai composite shed 0.15% while the Shenzhen component dipped 0.658%. Over in Hong Kong, the Hang Seng index advanced about 0.1%. In Japan, the Nikkei 225 hovered above the flatline while the Topix index slipped 0.11%. MSCI's broadest index of Asia-Pacific shares outside Japan traded just 0.05% higher.
Persons: Korea's Kospi Organizations: Wall, Nikkei, Japan Locations: SINGAPORE, Asia, Pacific, Shanghai, Shenzhen, Hong Kong, Japan, Australia
China’s prolonged credit-scoring saga amasses risk
  + stars: | 2021-06-24 | by ( Pete Sweeney | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Aly SongHONG KONG, June 24 (Reuters Breakingviews) - Beijing’s clumsy campaign to build a national consumer credit-scoring system has reeled off on a new tangent. Financial technology titan Ant may be trying to escape an ill-conceived central bank agency by starting a venture with state-owned enterprises. For commercial banks trying to assess risk from individual borrowers, any credit scoring should incorporate such information. In the proposed alternative, as outlined by the Wall Street Journal on Wednesday, Ant would develop its own scoring system. Follow @petesweeneypro on TwitterCONTEXT NEWS- Financial technology giant Ant is negotiating with Chinese state-owned enterprises to create a credit scoring company, the Wall Street Journal reported on June 23, citing unnamed sources.
Persons: Aly, HONG, Jack Ma’s, it’s, Ant, Baihang, Jeffrey Goldfarb, Katrina Hamlin Organizations: Ant, REUTERS, Reuters, People’s Bank of China, HK, Wall, Financial, Wall Street Locations: Shanghai, China, HONG KONG, Beijing
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