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Wednesday, June 16, 2021

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China stocks fall as Sino-West tensions hit risk appetite

BEIJING — China shares dropped on Wednesday, led by losses in healthcare and material stocks, as investor concerns about lofty valuations as well as Sino-West tensions dented risk appetite. ** At the midday break, the Shanghai Composite index was down 0.77% at 3,529.11 points, while the blue-chip CSI300 index dropped 1.28%. ** Among the worst […]

UK inflation rises above Bank of England target in May, hits 2.1%

The acceleration of price growth from April's 1.5% was driven in large part by the comparison effect with May 2020 when the country was...

Ending of furlough is tougher for older workers

@media screen and (min-width: 1201px) { .ermyc60c98d3d4b3e6 { display: none; } } @media screen and (min-width: 993px) and (max-width: 1200px) { .ermyc60c98d3d4b3e6 { display: none; } } @media screen and (min-width: 769px) and (max-width: 992px) { .ermyc60c98d3d4b3e6 { display: block; } } @media screen and (min-width: 768px) and (max-width: 768px) { .ermyc60c98d3d4b3e6 { display: block; } } @media screen and (max-width: 767px) { .ermyc60c98d3d4b3e6 { display: block; } } Older workers on furlough are more likely to struggle to find work than the young after the job support scheme comes to an end in September, the Institute for Fiscal Studies has said. Analysis by the think tank found that employees over the age of 65 were 40 per cent more likely to have been on furlough than those in their forties and that older workers who lost their jobs would take much longer to find a new role. The end of furlough was “likely to be particularly tough for older workers”, the IFS said as it called on the government to help them back into employment. The research was funded by the Centre for Ageing Better. The analysis of data before the pandemic found that “among all those unemployed in their late fifties, less than one in three returned to work over the course of a year, compared with about half of those unemployed in their mid-thirties”.

Technology

Corn firms on U.S. crop worries, wheat gains ground

SINGAPORE — Chicago corn futures rose on Wednesday, supported by concerns over potential yield losses from recent unfavorable weather in parts of the U.S. Midwest. Wheat rose for the first time in four session and soybeans edged higher. The most-active corn contract on the Chicago Board Of Trade (CBOT) rose 0.7% to $6.72 a bushel, […]

Digihost Announces CAD$15 Million Private Placement With Institutional Investors

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that the Company has entered into subscription agreements with certain institutional investors, for gross proceeds of approximately CAD$15 million in […]

GM to boost spending on electric vehicles 30%, add two new battery plants -sources

WASHINGTON — General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 30% jump over its most recent forecast as it pursues EV leadership, people briefed on the matter told Reuters. As part of that spending, the No. 1 U.S. automaker will build two additional U.S. battery […]
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Adani Group Share Tumult Deepens With Some Diving by Daily Limit

(Bloomberg) — The slump in shares of companies controlled by Indian billionaire Gautam Adani deepened on Wednesday with three of them tumbling by the daily limit for a third straight day. Adani Total Gas Ltd., Adani Power Ltd. and Adani Transmission Ltd. hit the lower circuit after dropping 5% each even as the group denied […]

Indonesian e-commerce firm Bukalapak seeking up to $800 mln in IPO -sources

JAKARTA — Bukalapak, Indonesia’s No. 4 e-commerce firm, is keen to raise as much as $800 million in an IPO in August, two people with knowledge of the matter said, in what is likely to be the biggest by a startup in the Southeast Asian nation. Tapping a sharp pickup in investor interest in Southeast […]

India’s famed Taj Mahal re-opens for tourists as COVID-19 curbs ease

BENGALURU — India’s iconic Taj Mahal re-opened to the public on Wednesday as the country, still reeling from a disastrous second wave of the pandemic, rushes to lift restrictions in a bid to revitalize its economy. The 17th century monument, built by Mughal emperor Shah Jahan in the northern city of Agra, was closed in […]

Volvo Cars to test fossil-free steel from SSAB's HYBRIT venture

The Swedish carmaker, owned by China's Geely Holding, will be the first car maker to source steel from green steel venture HYBRIT, which is...

UK inflation rises above Bank of England target in May, hits 2.1%

The acceleration of price growth from April's 1.5% was driven in large part by the comparison effect with May 2020 when the country was...

Gaming

Adani Group Share Tumult Deepens With Some Diving by Daily Limit

(Bloomberg) — The slump in shares of companies controlled by Indian billionaire Gautam Adani deepened on Wednesday with three of them tumbling by the daily limit for a third straight day. Adani Total Gas Ltd., Adani Power Ltd. and Adani Transmission Ltd. hit the lower circuit after dropping 5% each even as the group denied […]

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