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Surprise surge in Australian jobs to test super-easy monetary policy
  + stars: | 2021-06-17 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +3 min
Thursday's data from the Australian Bureau of Statistics (ABS) showed 115,200 net new jobs were created in May, far above forecasts for a 30,000 gain. Full-time jobs jumped by 97,500 and hours worked rose sharply, pointing to expanding output. The RBA has been the odd man out as other rich world central banks turn more hawkish, notably the U.S. Federal Reserve and the Reserve Bank of New Zealand. The surprise jobs data came just after RBA Governor Philip Lowe argued that wages would remain subdued for some time, in part due to a widespread focus on cost cutting by firms. Yet the May data showed unemployment already down at 5.1%, when the RBA had not expected to reach 5% until the end of this year.
Persons: Jason Reed, coronavirus lockdowns, Gareth Aird, Philip Lowe, Lowe, Ben Udy, Udy, Wayne Cole, Himani Sarkar Organizations: Australian, REUTERS, Australian Bureau of Statistics, Reserve Bank of Australia, U.S . Federal Reserve, Reserve Bank of New, CBA, Capital Economics, Bank, Thomson Locations: Sydney, SYDNEY, U.S, Reserve Bank of New Zealand
Cannabis website Leafly to raise $30 million in fresh funding
  + stars: | 2021-06-16 | by ( Reuters Staff | ) www.reuters.com + 0.83   time to read: +1 min
(Reuters) - Cannabis marketplace Leafly is raising $30 million in a fresh funding round, it said in a filing on Wednesday, as the world’s biggest pot-related website taps strong investor appetite for companies in the burgeoning U.S. marijuana industry. Privately owned Leafly has raised almost $23 million of the total $30 million offering of convertible debt and equity in the latest fundraising, the company said in a filing here. It raised around $17 million in a fundraise in October 2020. The company runs a pickup and delivery service, helps consumers find the right cannabis strain for different medical application, runs a dispensary locator and posts reviews on different cannabis products. Founded in 2010, Leafly was owned between 2012 and 2019 by Privateer Holdings, a cannabis-focused private equity group, and now operates as an independent business.
Persons: Leafly, coronavirus lockdowns Organizations: Reuters, Privately, Industry, Privateer Holdings Locations: Seattle , Washington
Back in fashion: Chanel enjoys strong recovery from pandemic
  + stars: | 2021-06-15 | by ( Silvia Aloisi | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The logo of fashion house Chanel is seen on a store in Paris, France, June 18, 2020. REUTERS/Charles Platiau/File PhotoPrivately-owned Chanel, known for its tweed suits, quilted handbags and No. 5 perfume, is one of the biggest brands in the 280-billion euros ($340 billion) global luxury industry alongside LVMH’s Louis Vuitton. Revenues at LVMH fell by 16% in 2020, while those at Hermes were down by just 6%. “Chanel will not participate in this consolidation either as a target or as an acquirer.
Persons: Chanel, Charles Platiau, LVMH’s Louis Vuitton, Philippe Blondiaux, ” Chanel, Blondiaux, coronavirus lockdowns, , Coco Chanel, Alain, Gerard Wertheimer, “ Chanel Organizations: PARIS, REUTERS, Reuters Locations: MILAN, Paris, France, LVMH, China, United States
Asian shares hold range as investors eye U.S. CPI
  + stars: | 2021-06-10 | by ( Swati Pandey | ) www.reuters.com + 0.00   time to read: +3 min
SYDNEY (Reuters) - Asian shares edged higher but held their recent trading range on Thursday as investors focussed on U.S. inflation data and the risk of an upside surprise that could prompt the Federal Reserve to start tapering its massive stimulus. REUTERS/Kim Kyung-Hoon/File PhotoMSCI’s broadest index of Asia-Pacific shares outside Japan were marginally higher at 700.6 points, but stayed in the 698-712 points range it has traded in since late May. [.N]Markets are looking to the European Central Bank (ECB)policy meeting later in the day where it will likely keep its policy guidance unchanged and publish updated euro area macroeconomic projections. Brent crude futures fell 22 cents to 72 a barrel, while U.S. crude futures were 27 cents lower at $69.69 a barrel. The euro was a tad weaker at $1.2169 ahead of the ECB meeting while the British pound eased to $1.4100.
Persons: Kim Kyung, Dow, , coronavirus lockdowns Organizations: SYDNEY, Federal Reserve, REUTERS, Japan’s Nikkei, Morgan, Treasury, Nasdaq, European Central Bank, U.S, CPI, Reuters, ANZ, Brent, ECB, New Zealand Locations: Tokyo, Japan, Asia, Pacific, Treasuries, coronavirus
Ryanair and British Airways could be sued for refusing refunds
  + stars: | 2021-06-09 | by ( Hanna Ziady | Cnn Business | ) edition.cnn.com sentiment -1.00   time to read: +1 min
London (CNN Business) Britain's antitrust regulator is investigating whether Ryanair and British Airways broke the law by refusing to refund customers for flights that they could not legally take during coronavirus lockdowns. In a statement on Wednesday, the Competition and Markets Authority said that the airlines may have breached consumers' legal rights by refusing cash refunds on flights that went ahead during periods of lockdown. During coronavirus lockdowns, the UK government made it illegal to travel abroad for non-essential reasons. These restrictions were lifted on May 17, although the government is still advising against travel to certain countries. Ryanair RYAAY IAG ICAGY The regulator said it would seek to resolve its concerns withand British Airways, which is owned by, before enforcing consumer protection legislation through the courts.
Persons: coronavirus lockdowns, Andrea Coscelli, Read Organizations: London, CNN, Ryanair, British Airways, Markets Authority, Airways
Divided far-right AfD loses ground in east German stronghold
  + stars: | 2021-06-07 | by ( Joseph Nasr | ) www.reuters.com + 0.00   time to read: +3 min
The far-right Alternative for Germany (AfD) tried on Monday to put a brave face on election losses in an eastern stronghold where its anti-immigration line failed to chime with voters' concerns. Under surveillance in Saxony-Anhalt for suspected anti-democratic activity, the AfD is shunned as a potential coalition partner by all other national parties. REUTERS/Annegret Hilse/PoolIt also found that many left-leaning voters had voted tactically for the CDU in order to block the AfD. He was notably absent from a news conference with hardline co-leader Tino Chrupalla and Oliver Kirchner, who heads the AfD in Saxony-Anhalt. A prickly Chrupalla, asked why AfD leaders had differing views on the election result, said:"I don't see the difference between a respectable result and a sensational result.
Persons: Chancellor Angela Merkel's, coronavirus lockdowns, Dimap, Tino Chrupalla, Martin Reichardt, Anhalt Oliver Kirchner, Annegret, Joerg Meuthen, Oliver Kirchner, I've Organizations: CDU, REUTERS, Thomson Locations: Germany, Saxony, Anhalt, September's, Berlin
By far the world's largest vegetable producer, China has used greenhouses for decades, but food supply disruptions sparked by coronavirus lockdowns in 2020 have accelerated the development of high-tech glass greenhouse facilities. Plastic greenhouses help shield crops, but are considered less efficient than glass greenhouses. BYPASSING THE MIDDLE MANHistorically, China's vegetable production was concentrated in certain areas and required complex cold chain logistics networks for food to reach major cities' wholesale markets. Greenshouse-grown produce is usually sold directly to e-commerce platforms and supermarkets, bypassing the many middlemen and wholesale markets that are a traditional feature of China's vegetable supply chain. "The biggest challenges are people, people who have the knowledge to manage greenhouses to produce quality vegetables," he said.
Persons: Dirk Aleven, coronavirus lockdowns, Lim Xin Yi, Gayathree Ganesan, Aly Song Read, we've, Xu Dan, Xu Organizations: Economist Intelligence Unit, REUTERS, Thomson Locations: Chongming, Shanghai, China’s, China's, China, Richland, COVID, Wuhan, Beijing, Netherlands, Carrefour China
IMF sees Italy GDP up 4.3% in 2021, budget deficit at 11.8% GDP
  + stars: | 2021-06-03 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
“A robust recovery is expected in 2021 supported by ongoing vaccinations although large uncertainty remains,” the Fund said in statement released at the end of its annual visit to Italy. “Continued policy support will be necessary until the recovery takes hold”, IMF added. The Fund said Italy’s budget deficit for 2021 was now seen at 11.8% of GDP, up from 8.8% projected in April, and in line with a government’s estimate for a double-digit deficit, which was last experienced in the early 1990s. As the coronavirus crisis pushes up government spending, the Fund also revised up the fiscal gap for 2022 to 6% from 5.5% of GDP, near Rome’s projection of 5.9%. For 2022 the IMF expects public debt to stand at 157.9% of GDP, above Italy’s estimate of 156.3%.
Persons: Flavio Lo Scalzo MILAN, coronavirus lockdowns Organizations: REUTERS, Monetary Fund, IMF Locations: Lombardy, Milan, Italy, Greece
After tough Bolshoi training, British ballerina sets eyes on world stage
  + stars: | 2021-06-01 | by ( ) www.reuters.com + 0.99   time to read: +2 min
British ballerina Rachel Armstrong attends a lesson at the Bolshoi Ballet Academy in Moscow, Russia May 20, 2021. Armstrong, 20, is among the few dancers from England to ever graduate from the renowned Bolshoi Ballet Academy, whose Russian and foreign graduates dance for ballet companies across the globe. REUTERS/Evgenia NovozheninaRachel Armstrong will take a leap towards her dream of becoming one of the world's top ballet dancers when she graduates from Russia's renowned Bolshoi Ballet Academy this month. "I was really nervous and upset but also excited," she told Reuters, recalling her first day at the Bolshoi Ballet Academy. Three years after relocating to Moscow, Armstrong has picked up Russian and completed the academy's rigorous training.
Persons: Rachel Armstrong, Armstrong, Evgenia Novozhenina Rachel Armstrong, agilely, coronavirus lockdowns, what's Organizations: Bolshoi Ballet Academy, Russia's, Bolshoi Ballet, Reuters, Bolshoi Theatre, Thomson Locations: Moscow, Russia, England, Northumberland, Russian, Britain
POLL-Russian MOEX stock index to climb to record highs in 2021
  + stars: | 2021-05-26 | by ( Andrey Ostroukh | ) www.reuters.com + 0.00   time to read: +2 min
The Russian stock market will lean towards higher levels in the next three months and may see inflows as Russia and the United States are preparing for a bilateral summit in June, said Mikhail Vasilyev from Sovcombank. “The main risk for the Russian stock market is still the threat of harsher sanctions. By the end of 2022, the MOEX is seen reaching 4,210, with forecasts ranging between 3,800 and 5,250. Retail investors play an increasingly important role on the Russian stock market. The RTS was seen climbing further to 1,880 by end-2022, its highest since mid-2011, with forecasts ranging from 1,700 to 2,300.
Persons: Mikhail Vasilyev, Gazprombank, , Vitaly Manzhos, coronavirus lockdowns Organizations: COVID, Algo Capital Locations: MOSCOW, Monday’s, Russian, Russia, United States, Sovcombank
Hong Kong (CNN Business) China's plan to build its way out of the pandemic is pushing its carbon emissions to record highs, new research has found. As a result, China's emissions generated nearly 12 billion metric tons of CO2 in the year ending March 2021, a record high. Recent data from Carbon Monitor has shown an uptick in China's carbon emissions, too. The global CO2 emissions tracker said the country's emissions in the first quarter increased 21% year-on-year, fastest among the world's major emitters. Time may be running out for Beijing to tame the surge in its carbon emissions so it can meet interim climate targets.
Persons: Lauri Myllyvirta, coronavirus lockdowns, Myllyvirta, Xi Jinping's, Xi, it's, Li Keqiang, he's, Organizations: CNN, Centre for Research, Energy, Clean, Carbon Monitor, Carbon Locations: Hong Kong, China, United States, Beijing, Tangshan
European new car sales jump 256% y/y in April- ACEA
  + stars: | 2021-05-19 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: 1 min
BERLIN, May 19 (Reuters) - European car registrations soared in April, industry data showed on Wednesday, recovering from the low level reported last year when coronavirus lockdowns dragged down sales across the continent. New car registrations rose by 256% year-on-year to 1,039,810 vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA), figures from the European Automobile Manufacturers’ Association (ACEA) showed.
Persons: coronavirus lockdowns Organizations: European Union, European Free Trade Association, European Automobile Manufacturers ’ Association Locations: BERLIN, Britain
Aerial images of Kea island also known as Gia or Tzia, Zea, and, in antiquity, Keos, is a Greek island in the Cyclades archipelago in the Aegean Sea. LONDON — Andreas Patiniotis can't help sounding cheerful as Greece once again welcomes tourists back to the country. "I'm very happy," said the owner of four hotels in one of Greece's most iconic holiday destinations, Santorini. And that feeling is spreading across this entire sunny nation, with the economy relying heavily on international visitors. In 2020, Greece's gross domestic product sank more than 8% and a large part of that was due to the lack of tourists.
Persons: Andreas Patiniotis, Alex Patelis Organizations: CNBC Locations: Kea, Greece, lockdowns
The UK economy is gradually reopening from coronavirus lockdowns. Phil Noble/ReutersThe UK economy grew 2.1% in March, beating expectations of a 1.3% expansion. Britain is gradually reopening from lockdowns as cases fall and vaccination numbers grow. The UK economy grew 2.1% in March, considerably more than expected by economists, as business and consumer optimism grew as COVID-19 cases fell and the vaccination drive picked up speed, according to data on Wednesday. The vaccine rollout and falling cases has allowed the government to stick to its roadmap for reopening the economy.
Persons: coronavirus lockdowns, Phil Noble, Rishi Sunak, Sunak, Ruth Gregory Organizations: Reuters, Bank of England, National Statistics, The Bank of England, coronavirus, Capital Economics Locations: coronavirus, Britain, lockdowns, COVID
Sunglasses from Ray Ban are on display at a optician shop in Hanau near Frankfurt, Germany, March 18, 2016. REUTERS/Kai PfaffenbachEssilorLuxottica (ESLX.PA) posted a 14.3% rise in first-quarter sales on Thursday powered by a strong rebound in China and the United States as the maker of Oakley and Ray-Ban sunglasses targets a full recovery from the pandemic this year. Increased demand in the United States helped by stimulus checks and strong Chinese sales in myopia control lenses offset disruptions due to U.S. storms and renewed restrictions in Europe during the quarter due to another COVID-19 spike. Sales in the first quarter jumped 14.3% at constant currencies from a year earlier to 4.06 billion euros ($4.9 billion). First-quarter results were on track towards that goal as sales in the first quarter grew 1.9% over 2019 at constant currencies.
Persons: Ray Ban, Kai Pfaffenbach EssilorLuxottica, Oakley, Stefano Grassi, Chanel, Prada, Versace, coronavirus lockdowns, Luxottica Organizations: REUTERS, HK, Thomson Locations: Hanau, Frankfurt, Germany, China, United States, Ray, United, Europe, North America, Asia, Brazil
ROME — Two American students were found guilty Wednesday of killing an Italian police officer aftera lengthytrial and were sentenced to life in prison. Mario Cerciello Rega to death on July 26, 2019, during a meeting they organized to swap a stolen backpack for money they lost in a drug deal. When they realized, prosecutors said, they stole the backpack of the Italian man who had introduced them to the drug dealer. After a fight broke out, Cerciello Rega was stabbed 11 times with a 7-inch military-style attack knife. A knife was found concealed inside a ceiling panel in their hotel room, and police said Elder admitted to being the owner.
Persons: ROME, aftera lengthytrial, Finnegan Lee Elder, Gabriel Natale, Hjorth, Mario Cerciello Rega, Elder, Cerciello Rega, , , Renato Borzone, Andrea Varriale, Natale, Varriale, Rega, coronavirus lockdowns, Maria Sabina Calabretta, Organizations: NBC, Associated Press Locations: Italian, Mill Valley , California, Rome
(CNN) Remember that pandemic baby boom some thought we'd see about nine months after coronavirus lockdowns swept across the US? A more detailed breakdown of government birth data also shows the largest decline in births occurred in December. Even before the pandemic, US births were decreasingDemographers have said a combination of factors -- fewer births, more deaths and less immigration -- were already combining to slow the nation's population growth. Additional data released Wednesday shows the trend of declining births and fertility rates in the United States is continuing. The decline in births caused by the pandemic, coming after years of decreasing birth rates, could add up to significant shifts in society, Levine says.
Persons: coronavirus lockdowns, We've, Phillip Levine, Levine, it's, Anne Driscoll, Driscoll, he's, Couples, Melissa S, Kearney, Kenneth Johnson, Johnson, we've, we're Organizations: CNN, Wellesley College, National Center for Health Statistics, New York Times, University of New Locations: United States, University of New Hampshire
All Colombians should work to reject violence, protect the most vulnerable and support COVID-19 vaccination and economic reactivation, Duque said in a video. Duque's promise echoed the 2019 creation of a so-called national dialogue after days of anti-government protests. "To those who work for the security of Colombians: all our support and at the same time all our expectation." read moreProtests have so far led to the withdrawal of the original tax reform and the resignation of Finance Minister Alberto Carrasquilla. New Finance Minister Jose Manuel Restrepo will need to convince Colombians, many of whom have seen their incomes battered by coronavirus lockdowns, that reform is vital, former Finance Minister Mauricio Cardenas told the Reuters Global Markets Forum on Tuesday.
Persons: Ivan Duque's government's, Juan Bautista, Ivan Duque, Duque, Duque's, overreach, Alberto Carrasquilla, Jose Manuel Restrepo, coronavirus lockdowns, Mauricio Cardenas, Restrepo, Cardenas Organizations: REUTERS, Juan Bautista Colombian, United Nation's Office, Human Rights, New Finance, Reuters Global, Tuesday, South American Football Confederation, Copa Libertadores, Thomson Locations: Cali , Colombia, Cali, Pacific, Buenaventura, Bogota, Medellin, Paraguay
Puma sees sales hit from China backlash and freight delays
  + stars: | 2021-04-28 | by ( Emma Thomasson | ) www.reuters.com + 0.00   time to read: +3 min
BERLIN (Reuters) -German sportswear company Puma expects a consumer backlash against Western brands in China and congestion at ports to hit its sales though it gave an upbeat outlook for 2021 following a strong first quarter. There is less activity in the Western brand stores than there would have been if tension wasn’t there,” Puma Chief Executive Bjorn Gulden told reporters. Before the backlash, Puma’s sales in greater China had been growing strongly, rising 40% in the first quarter. Western governments and rights groups have accused authorities in the western region of Xinjiang of detaining and torturing Uyghurs in camps. Nike last month reported quarterly sales below estimates due to shipping issues and the pandemic-related slump at stores, forecasting “low-to-mid-teens” full-year revenue growth.
Persons: Leonhard Foeger, , Bjorn Gulden, Puma, coronavirus lockdowns Organizations: BERLIN, Puma, REUTERS, Brands, Nike, Adidas, ” Puma, Tokyo Olympics, European Locations: China, Vienna, Austria, Xinjiang, Beijing, Asia, North America, Europe, America, India, Canada, Turkey
Nasdaq launching options on the Nasdaq-100 Micro Index
  + stars: | 2021-04-22 | by ( ) www.reuters.com sentiment -0.68   time to read: +1 min
Nasdaq Inc on Thursday said it was launching options on the Nasdaq-100 Micro Index (.XND) as a lower-cost way for retail investors to gain exposure to the popular Nasdaq 100 Index. "Option investor engagement is at an important inflection point, with newer participants embracing the options market like never before," said Greg Ferrari, head of U.S. options for Nasdaq. The Nasdaq-100 Micro Index was launched in January and is 1/100th the size the Nasdaq 100 Index (.NDX), which includes 100 of the largest non-financial companies listed by Nasdaq based on market capitalization. Nasdaq said on Wednesday its first-quarter indexing revenues rose 40% year-over-year to $29 million, driven in part by higher licensing revenues from futures trading linked to the tech-heavy Nasdaq-100 Index. The Nasdaq 100 Index closed up 0.91% at $13,935.15 on Wednesday, while the Nasdaq-100 Micro Index closed up the same amount at $139.35.
Persons: coronavirus lockdowns, Greg Ferrari Organizations: Nasdaq, Retail, GameStop Corp, AMC Entertainment, Thomson Locations: New York
Recent economic figures do point to a stronger-than-expected economic recovery, and further coronavirus lockdowns across the euro zone won't likely warrant further action by the central bank. "A change in policy stance is unlikely," said Mark Wall, a chief economist with Deutsche Bank, in a research note. PEPP sped upIn the wake of the pandemic, the ECB launched its Pandemic Emergency Purchase Program, or PEPP, which buys bonds in the region to stimulate lending and fuel an economic recovery. "PEPP purchases were 74 billion euro in March," Wall explained. "This was significantly higher than the 53 billion euro and 60 billion euro in February and January."
Persons: Christine Lagarde, Vicepresident Luis de Guindos, Thomas Lohnes, Mark Wall, PEPP, Wall, it's, Pierre Wunsch, Klaas Organizations: European Central Bank, ECB, Getty, Deutsche Bank, Hawks Locations: FRANKFURT, Belgian, Dutch
Japan stocks stumble as return to coronavirus lockdowns looms
  + stars: | 2021-04-20 | by ( Junko Fujita | Stanley White | ) www.reuters.com sentiment -1.00   time to read: +2 min
Selling was seen across almost all sectors, with only one of the Tokyo Stock Exchange’s 33 industry sub-indexes closing higher and just 16 stocks up on the benchmark Nikkei share average. The Nikkei settled down 1.97% at 29,100.38, its worst since March 24, while the broader Topix dropped 1.55% to 1,926.25 in its biggest slide in four weeks. Semiconductor-related stocks tracked their U.S. peers lower, with Tokyo Electron falling 2.3%, Advantest dropping 3.2% and Murata Manufacturing losing 1.58%. The biggest percentage gainers in the index were Kawasaki Kisen Kaisha Ltd, up 2.19%, followed by Mitsui OSK Lines Ltd, gaining 1.66%, and Oji Holdings Corp , up by 1.4%. The volume of shares traded on the Tokyo Stock Exchange’s main board was 1.09 billion, compared with the average of 1.29 billion in the past 30 days.
Persons: “ It’s, , Shoichi Arisawa, Junko Fujita, Stanley White, Subhranshu Sahu Organizations: Tokyo Stock, Nikkei, IwaiCosmo Securities, Retailing, SoftBank, Semiconductor, Tokyo, Murata Manufacturing, Marui, Co, Dentsu, Inc, Daikin Industries, Kawasaki Kisen Kaisha, Mitsui OSK Lines, Oji Holdings Corp Locations: TOKYO, Japan, Tokyo, Osaka
European new car sales jump 87% year-on-year in March: ACEA
  + stars: | 2021-04-16 | by ( Reuters Staff | ) www.reuters.com sentiment -0.65   time to read: +1 min
REUTERS/Neil Hall/File PhotoBERLIN (Reuters) - European car registrations jumped in March, industry data showed on Friday, recovering from the collapse seen a year ago when coronavirus lockdowns and accompanying uncertainty across Europe took a toll on sales. New car registrations rose by 87.3% year-on-year to 1,062,446 vehicles in the European Union, figures from the European Automobile Manufacturers’ Association (ACEA) showed. Italy, the first country to lock down in Europe last year, posted the biggest increase of 497%, followed by France on 192% and Spain on 128%, while Germany saw sales rise 36%. Sales at Volkswagen and Stellantis to the EU, Britain and the countries of the European Free Trade Association (EFTA), rose by 46% and 140% respectively, while Renault reported a rise of 70%. Luxury automakers also saw sales jump in March, with BMW reporting a rise of 43% and rival Daimler reporting a 11% rise.
Persons: Neil Hall, coronavirus lockdowns Organizations: REUTERS, BERLIN, European Union, European Automobile Manufacturers ’ Association, Volkswagen, EU, European Free Trade Association, Renault, BMW, Daimler Locations: Luton, Britain, Europe, Italy, France, Spain, Germany
Yuan eases on concern China's post-COVID bounce is losing steam
  + stars: | 2021-04-16 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +4 min
The spot yuan opened at 6.5300 per dollar and was changing hands at 6.5306 at midday, 90 pips weaker than the previous late session close. By midday, the global dollar index stood at 91.757, while the offshore yuan was trading at 6.533 per dollar. Negative number indicates that spot yuan is trading stronger than the midpoint. The People's Bank of China (PBOC) allows the exchange rate to rise or fall 2% from official midpoint rate it sets each morning. OFFSHORE CNH MARKET Instrument Current Difference from onshore Offshore spot yuan 6.533 -0.04% * Offshore 6.7095 -2.69% non-deliverable forwards ** *Premium for offshore spot over onshore **Figure reflects difference from PBOC's official midpoint, since non-deliverable forwards are settled against the midpoint.
Persons: coronavirus lockdowns, Edward Moya, Xing Zhaopeng, Xing, Iris Pang, Winni Zhou, Andrew Galbraith, Kim Coghill Organizations: Gross, ANZ, Greater China, ING, People's Bank of China, Thomson Locations: SHANGHAI, New York, China, Shanghai, Beijing, Washington, U.S, Greater
Deliveroo hails doubling in orders as seeks IPO redemption
  + stars: | 2021-04-15 | by ( Paul Sandle | ) www.reuters.com + 0.00   time to read: +2 min
LONDON (Reuters) -Deliveroo said a more-than doubling in first quarter orders during coronavirus lockdowns was an initial step in proving itself following the debacle of the food delivery company’s London flotation last month. FILE PHOTO: A Deliveroo delivery rider cycles in London, Britain, March 31, 2021. Deliveroo maintained guidance for full-year GTV growth of 30-40% and gross profit margins of 7.5-8.0%. IPO FLOPDeliveroo’s flotation was supposed to be London’s debut of the decade, but the stock plunged 30% on the first day, wiping more than 2 billion pounds from the company’s initial 7.6 billion pound valuation. The shares were down 2% to 265 pence on Thursday morning, 31% below their IPO price of 390 pence.
Persons: Deliveroo, coronavirus lockdowns, Toby Melville “, Will Shu, ” Shu, , , Takeaway.com, Uber, Shu, “ I’m Organizations: REUTERS, , United Arab, Britain, Waitrose, Aldi, Morrisons, GTV Locations: London, Britain, COVID, Hong Kong, United Arab Emirates, Ireland, Coop, France, Italy
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