The European Union has fined Volkswagen AG and BMW AG 875.19 million euros ($ 1.03 billion) for restricting competition in cleaning emissions from new diesel passenger cars.
The European Commission, the EU’s executive body, said on Thursday that Daimler AG, BMW and Volkswagen, owners of Audi and Porsche, had agreed on technical development in the area of carbon dioxide cleaning. nitrogen, violating EU antitrust rules.
Deliveroo raises its gross transaction value forecast for 2021, but sees its margin hit
Deliveroo PLC raised its guidance for 2021 on Thursday after a strong first-half performance, but said gross profit margin would be in the lower part of its previous expectations due to the investments.
The UK food delivery company said it now expects full-year growth in its gross transaction value of between 50% and 60%, higher than its previous forecast of 30% to 40%.
TeamViewer shares tumble after billing misses growth target
TeamViewer AG shares fell on Thursday after the company said second quarter billing growth was below target and confirmed its outlook for the year down the expected range.
TeamViewer, which makes software for remote maintenance of computers and other devices, said billing – its preferred metric – increased by around 15% and 18% at constant exchange rates to 121.6 million euros ($ 143.3 million). That’s below the company’s projections of at least 20% growth in quarterly billing.
Entain sees annual profits ahead of expectations after second quarter revenue surge
Entain PLC said on Thursday that it expects full-year profits to be higher than the current consensus forecast after total net gaming revenue for the second quarter increased, benefiting from the reopening of its retail park.
The owner of Ladbrokes said he expects earnings before interest, taxes, depreciation and amortization for 2021 to be between £ 850 million and £ 900 million ($ 1.17 billion – £ 1.24 billion dollars).
Danske Bank raises its net profit forecast for 2021
Danish lender Danske Bank AS on Thursday raised its net profit forecast for 2021 as a faster-than-expected macroeconomic recovery resulted in lower-than-expected loan impairment charges as well as higher customer activity.
“In addition, we expect a capital gain from the sale of the business activities in Luxembourg which will however be offset by a number of provisions for exceptional tax items in the second half of the year,” said Managing Director Carsten Egeriis. mentionned.
German exports increased in May in line with expectations
German exports continued their gradual recovery in May despite the maintenance of some containment restrictions.
Rio Tinto Hires Former Unilever Compliance Officer for Senior Legal Position
Rio Tinto PLC has recruited a former Compliance Officer for Unilever PLC and Nestlé SA to serve as General Counsel, overseeing compliance matters for a company that has been at the center of high-stakes legal battles and reputation crises these last years.
Isabelle Deschamps, who is currently legal counsel to Dutch performance paints and coatings company Akzo Nobel NV, will join the Anglo-Australian mining company in October, Rio Tinto said on Wednesday.
Unemployment claims continued to decline as hiring warms
New claims for unemployment benefits have tended to decline this summer, indicating that the labor market is recovering from the Covid-19 slowdown as many states end their participation in enhanced unemployment assistance programs linked to the pandemic.
Economists estimate that first claims for unemployment benefits fell to 350,000 seasonally adjusted for the week ending July 3, from 364,000 the week before, according to a Wall Street Journal survey. The Department of Labor is expected to release the latest figures at 8:30 a.m. ET. The previous week’s level was the lowest recorded since jobless claims increased at the start of the pandemic in March 2020.
Borrowing is back as auto loan enrollments, credit cards hit record highs
Americans are borrowing again, in some cases at levels not seen in more than a decade.
Consumer demand for auto loans and rentals, general-purpose credit cards and personal loans rose 39% in April compared to the same period last year, according to credit reporting company Equifax Inc It was also up 11% from April 2019, according to Equifax, which measured how often lenders check consumer credit reports to make lending decisions.
RBA Governor Says International Border Closure Could Fuel Rising Wages
Australia could face a sharp rise in wages and inflation if the closure of the country’s international borders to foreign workers continues for some time, Reserve Bank of Australia Governor Philip said on Thursday. Lowe.
In a speech to economists, Lowe said the biggest challenge for the country’s labor supply was the closure of the border, which has normally been a major source of skilled workers for the country. economy for many decades.
Fed’s Bostic says time for cut is approaching, but won’t date it
Atlanta Federal Reserve Chairman Raphael Bostic said the time was approaching for the US central bank to withdraw its monthly $ 120 billion bond-buying stimulus package, but he would not say when that would be. could happen.
“We are approaching a time when the reduction will be appropriate,” Bostic said Wednesday in a virtual appearance at a rally organized by the National Association of Black Journalists. “If we do this right, at the right time, it should in no way affect consumers,” he said.
Fed officials see early end of bond buying, stress patience
Federal Reserve officials have suggested they may have to withdraw support for the economy earlier than expected due to stronger-than-expected growth this year.
Fed officials discussing the issue at their June 15-16 policy meeting were not prepared to cut their $ 120 billion in monthly treasury and mortgage debt purchases, according to the report. meeting released Wednesday. But an unknown number believed the time might approach.
Delta Covid-19 variant is dominant U.S. strain, CDC data shows
The highly transmissible Delta variant has become the dominant strain of the Covid-19 virus circulating in the United States, according to federal data. It is spreading rapidly as communities relax restrictions linked to the pandemic and authorities struggle to reach unvaccinated people.
The Delta variant, also known as B.1.617.2, accounted for 51.7% of Covid-19 infections in the two weeks ended July 3, according to genetic sequences from positive Covid-19 tests submitted to the Centers for Disease Control and Prevention of the United States. .
Tropical Storm Elsa made landfall in Florida on its way to the East Coast
Tropical Storm Elsa swept inland on Wednesday after making landfall along Florida’s Gulf Coast, bringing high winds, heavy rain and storm surges.
Elsa formed as the first hurricane in the Atlantic this season on July 2, but was demoted from a hurricane, according to the National Hurricane Center. The agency warned the storm could cause tornadoes when it lands in Taylor County, Florida, about 165 miles northwest of Tampa.
Tokyo Olympics to be held under Covid-19 state of emergency
TOKYO-Japan has declared a new state of emergency due to Covid-19 which will continue throughout the Summer Olympics, making organizers likely to drop plans to allow some spectators to the Games.
Japan and some other Asian countries that have been slow to roll out vaccinations are experiencing new waves of infection, exacerbated by the more contagious Delta variant. Tokyo reported 896 new cases on Thursday, up 27% from the previous week.
Trump sues Facebook, Twitter and Google to restore social media accounts
Former President Donald Trump has sued Facebook, Twitter and Google, seeking to restore his online profile after being suspended from most social media platforms following the January 6 riots on the United States Capitol.
Mr Trump was the most high-profile plaintiff seeking class action status against tech companies, saying he was wrongly censored by them in violation of his First Amendment rights. The lawsuits were filed in U.S. District Court in Miami on Wednesday.
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(END) Dow Jones Newswires
July 08, 2021 06:18 ET (10:18 GMT)
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