Economic News
- Bob MasonGerman Factory Orders Fail to Wow the EUR ahead of the ECB Minutes
German factory orders rose in line with forecasts failing to wow the markets. The ECB monetary policy meeting minutes and U.S jobless claims are up next.
- Bob MasonEuropean Equities – German Factory Orders and the ECB Minutes in Focus
From the Eurozone, German factory orders and the ECB meeting minutes will be in focus ahead of weekly jobless claims figures from the U.S.
- James HyerczykAsia-Pacific Shares: Steady-to-Better is Early Call as Investors Digest Fed Minutes
Ahead of the Asia-Pacific opening, investors are digesting the minutes from the Fed’s most recent monetary policy meeting.
- ReutersFrance Will Continue Massive Support for Air Transport Sector: Finance Minister
PARIS (Reuters) – The French government will continue giving strong support to the air transport industry throughout the COVID-19 pandemic, Finance Minister Bruno Le Maire said on Wednesday.
- ReutersU.S. Trade Deficit Hits Record High in February
WASHINGTON (Reuters) -The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more quickly than that of its global rivals and could remain elevated this year, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades.
- Vladimir ZernovStocks Mixed As Traders Wait For Catalysts
S&P 500 futures remain close to all-time high levels in premarket trading.
- ReutersRyanair Says Slow EU Vaccine Rollout to Hit Passenger Forecast
DUBLIN (Reuters) -The European Union’s slow COVID-19 vaccine rollout will damage Ryanair’s prospects in the coming year, Europe’s biggest low-cost airline said on Wednesday, as it flagged a smaller than expected loss for its financial year just ended.
- Bob MasonEurozone and Eurozone Member State Service PMIs Fails to Deliver a EUR Boost
Service sector and composite PMIs for the Eurozone fail to deliver a EUR boost in spite of the Eurozone’s private sector returning to growth. COVID-19 remains a concern.
- ReutersT-Mobile Netherlands, KKR to Invest 700 Million Euros in Fibre Optic
AMSTERDAM (Reuters) – T-Mobile Netherlands said on Wednesday it will invest at least 700 million euros ($832 million) to build and offer fibre optic networks in Dutch cities together with Open Dutch Fibre, a joint venture between KKR Infrastructure and Deutsche Telecom Capital Partners.
- ReutersAnalysis: High Stakes at Sea in Global Rush for Wind Power
LONDON(Reuters) – Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy.
- ReutersPandemic Drives Germany to Highest Deficit in 30 years: Statistics Office
BERLIN (Reuters) – Germany’s public sector deficit reached 189.2 billion euros ($225 billion) in 2020 thanks to the coronavirus pandemic, the first deficit since 2013 and the highest budget shortfall since German reunification three decades ago, the Statistics Office said.
- ReutersUK’s Drax to Complete Pinnacle Renewable Purchase on April 13
OSLO (Reuters) – British power producer Drax said on Wednesday it would complete its purchase of Canada-based Pinnacle Renewable Energy Inc on April 13 after clearing a final regulatory hurdle.
- ReutersShell Expects at Best Steady Fuel Sales for First Quarter
LONDON (Reuters) – Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter as some coronavirus restrictions ease, the world’s biggest fuel retailer said in a trading update on Wednesday.
- ReutersAmazon CEO Bezos, Stung by Wide Criticism, Endorses U.S. Corporate Tax Hike
WASHINGTON (Reuters) – Amazon.com Inc supports a hike in the U.S. corporate tax rate as part of an infrastructure overhaul, Jeff Bezos, chief executive of the largest U.S. retailer, said on Tuesday after facing withering criticism from the White House, Congress and on social media.
- ReutersExplainer: What is a Global Minimum Tax and How Could it Affect Companies, Countries?
PARIS/WASHINGTON (Reuters) – Treasury Secretary Janet Yellen has thrown the weight of the U.S. government behind a push for a global corporate minimum tax rate, possibly carving a path to a long-sought deal updating international tax rules for the first time in a generation.
- ReutersCalifornia Plans to Fully Reopen Economy on June 15
SACRAMENTO, Calif. (Reuters) -California will fully reopen its economy on June 15 if COVID-19 hospitalizations are low and stable, and vaccine supplies are plentiful enough for everyone over the age of 16 who wants to be inoculated, Governor Gavin Newsom said on Tuesday.
- Bob MasonEuropean Equities – Service Sector PMIs In Focus
After hitting record highs on Tuesday. Service sector PMIs are in focus. Expect COVID-19 news updates to also influence.
- ReutersEU Backs U.S. Vall for Global Minimum Corporate Tax, but Rate to be Decided
BRUSSELS (Reuters) – The European Commission backed on Tuesday a call from U.S. Treasury Secretary Janet Yellen for a global minimum corporate tax, but said its rate should be decided in talks in the Organisation for Economic Cooperation and Development (OECD).
- ReutersSuez Canal May Expand Southern Channel, Chairman Says
ISMAILIA, Egypt (Reuters) -The Suez Canal Authority is considering expanding the southern section of the waterway where the container ship Ever Given became stranded, its chairman said on Tuesday.
- ReutersNike Wins Halt to Sales of Lil Nas X ‘Satan Shoes’
NEW YORK (Reuters) – A federal judge on Thursday sided with Nike Inc in ordering a Brooklyn company to temporarily stop further sales of “Satan Shoes” it produced in collaboration with the rapper Lil Nas X.
