• UK firms set to slash office space in pivot to hybrid work PwC data shows employers are set to reduce their #office portfolio by up to 9m square feet, equivalent to 14 Walkie Talkie buildings -> Link #Hybrid #WFH #workingfromhome #remoteworking #OfficeSpace https://t.co/NxehRQfVKD
    City A.M. 17423m

    UK firms appear ready to take the leap to hybrid working despite being unconvinced by the productivity benefits, new research today suggests.

    Data from PwC shows that major employers are set to reduce their office portfolio by up to 9m square feet, equivalent to 14 Walkie Talkie buildings, due to the pandemic.

  • USD/JPY: Stronger bullish case once above the 110.10 mark Link #USDJPY
    FXStreet News 17428m

    USD/JPY keeps seesawing between gains and losses, holding on to higher ground this Thursday, as waits for US employment data. The pair lacks directional momentum while below the 110.10 level, as FXStreet’s Chief Analyst Valeria Bednarik notes.

  • Top News: Singapore Exchange US, UK Head Lenhart leaving firm...Read more: Link @SGX
    Global Investor Group 17428m
  • Spend it like Beckham: Soccer star buys stake in electric-car firm Lunaz Link https://t.co/mCc7yaXwdW
    Reuters 17428m

    David Beckham has taken a 10% stake in Lunaz, a UK-based car restoration and electrification firm, as the former England soccer captain builds on diverse investments in companies related to e-sports, cannabis and now automobiles.

    Beckham had invested in Lunaz through his investment vehicle, DB Ventures, the company said on Thursday, but did not disclose the value of the deal.

    "I was drawn to the company through their work restoring some of the most beautiful classic cars through upcycling and electrification," Beckham said in a statement. He will join Lunaz's founders and the Barclay, Reuben and Dellal families as a shareholder.

  • Pot-banging protests erupted across several cities in Brazil as President Jair Bolsonaro addressed the nation, days after demonstrators took to the streets over his handling of the coronavirus pandemic https://t.co/4chrlFzs8g
    Reuters 17428m
  • Evolution of fintech and football in Latin America Link
    ForexLive 17438m
  • Mike Lynch on Darktrace: What we learned from building a £2.5bn UK success story Link #MikeLynch #Darktrace #tech #UKbusiness #businessnews #opinion #techstartup #IPO #business
    City A.M. 17433m

    There were just a handful of us clustered around a Bloomberg screen waiting for the moment that Darktrace would finally be launched onto the London Stock Exchange. 

    In the end, that’s what a float comes down to – the final few seconds before the clock ticks round to 8am and the numbers start moving. If they head in one direction you triumph. If they go in the other you’re humiliated. Everything is on the line and nothing you can do will change the outcome.

    When the markets finally opened Darktrace’s share price went up, and up: a rise of forty per cent on the day. Once the story was clear we swapped the screen for a bottle or two. We had built a two-and-a-half-billion-pound company.

  • Miami Nice: Bitcoin price nears $40k as conference kicks off Link https://t.co/Qz5ixtPv4C
    City A.M. 17433m

    It’s my last day in Dubai as permission to travel has finally been granted for Mallorca and Zürich. It’s been a fascinating visit – Crypto AM will be back here for sure! Now all eyes are on the 12,000 attendees converging on Miami for the Bitcoin 2021 conference.

  • UK looks to wrap up Australia trade deal in coming weeks Link https://t.co/q7zrg7NK2r
    City A.M. 17433m

    The UK is aiming to close a free trade deal with Australia in the days after next week’s G7 summit in Cornwall.

    Both sides said last month that they would aim to sign up to an in principle agreement by June.

  • Germany’s Celonis and France’s Cegid are bringing fundraising sizzle to European back offices, writes @LiamWardProud Link https://t.co/njrRRDH2TO
    ReutersBreakingviews 17428m

    Advocates of Europe’s technology scene have something to crow about these days. Consumer-facing fintechs like $50 billion Klarna and Britain’s Wise are mulling bumper market debuts, and the region’s startups raised a record sum last year. Two recent deals show that the sector is also plugging a once-gaping hole for upstarts that sell software to companies rather than people. Germany’s Celonis, whose technology helps businesses make use of their data, raised $1 billion at an $11 billion valuation read more . And France’s Cegid, which offers cloud-based software for retailers, has attracted KKR (KKR.N) with a near $7 billion price tag.

    That should assuage fears that Europe’s patchwork of fragmented markets would impair the growth of native business-to-business firms. The old argument was that American rivals would prevail by rolling out their products at scale at home before conquering Europe. Celonis’s customers, as well as European giants Vodafone (VOD.L) and Siemens...

  • Rapyd launches venture arm to invest in early-stage fintech startups Link #fintech
    Finextra 17428m
  • Mayfair restaurant Le Gavroche shuts for lunch indefinitely, citing Brexit-driven staffing shortage The restaurant highlighted a lack of well-trained #hospitality staff due to a combination of #Brexit and the #pandemic --> Link #Mayfair #Lunch #BusinessLunch
    City A.M. 17428m

    Mayfair restaurant Le Gavroche will only open for dinner service until further notice, with the restaurant highlighting a “major” lack of well-trained hospitality staff due to a combination of Brexit and the pandemic.

    From 14 June, the two Michelin-starred restaurant owned by French celebrity chef Michel Roux will only open from 5pm onwards, meaning punters will be unable to book in for lavish lunches for the foreseeable future.

  • Red, amber, green? Ahead of the update to the UK's travel green list later, @AdamTyndall from @London_First shares his thoughts Link #travel #greenlist #amberlist #redlist #tourism #Covid19 #covid #airlines
    City A.M. 17428m

    This week the UK recorded a day with zero covid deaths. I heard this exciting news in Portugal – my only realistic option for international travel given that I’m not yet fully vaccinated.

    To get here I had to take a PCR test and fill out a locator form before travelling. To get back to the UK I will have to take a pre-flight test, fill out a locator form, and have a further PCR test within two days of arriving back in the UK.

    These are the strict precautions in place for countries deemed low enough risk to be on the green list.

  • Dollar ticks up ahead of U.S. payrolls Link https://t.co/RNgDrFkvmM
    Reuters Business 17428m

    The U.S. dollar rose on Thursday as traders awaited a batch of U.S. economic data that could set the tone at central bank meetings later this month.

    Investors have bet on the dollar falling as the world recovers from the COVID-19 pandemic, but they have lately grown nervous over whether a surprisingly strong U.S. economic rebound poses a threat to the assumption that interest rates will stay low for a long time.

    The mood has kept speculators from adding much to short positions in recent weeks and has put the brakes on what a month ago seemed like a relentless downtrend.

    Against the euro the dollar traded 0.2% higher at $1.2183 and it crept a fraction higher on Antipodean currencies. It rose 0.2% to buy 109.78 yen .

    The dollar index , which measures the greenback against a basket of six currencies, rose to 90.112. It has found strong support around the 89.946 mark in recent sessions after falling 2% in April and a further 1.6% in May.

    "At least for...

  • Jet2 bolsters balance sheet by £537m as travel downturn goes on Link https://t.co/DvOsEdCTjh
    City A.M. 17433m

    Package holiday firm Jet2 has today taken steps to shore up its finances to the tune of more than £500m as the wait for a full-scale return to travel goes on.

    The firm, which has cancelled all of its holidays until 24 June due to the ongoing travel “uncertainty”, said it had signed a new £150m loan agreement.

    And it also said it was launching a bond offering of guaranteed senior unsecured unrated convertible bonds worth £387.4m.

  • Analysis: ‘Punk nation’: Argentina inflation soars as hazy future drives price hikes Link https://t.co/nnIterCvDi
    Reuters 17433m

    Argentine President Alberto Fernandez, put on the spot to explain a damaging and stubborn inflation rate that is soaring towards 50%, turned to the punk rock musical genre of Patti Smith and the Ramones for inspiration.

    "Argentina is a punk nation," the center-left president, who plays the guitar and named his dog after Bob Dylan, said in reference to the rebellious spirit of the musical movement born in the 1970s.

    "Everything is today, there is no tomorrow. Everything is in the short-term because there is no future."

    The South American nation, he explained, had over years of runaway prices built up a national psyche so imbued with inflation that it had become a self-perpetuating vicious cycle. "People increase prices just in case," he said.

    The lyrical answer underscores a concrete and major issue for his Peronist government, which had set its sights on inflation under 30% this year but has been surprised by runaway prices that sap savings, wages and...

  • $AMC Entertainment Holdings Stock Forecast: #AMC to infinity and beyond, the moon seems too low Link #stocks #trading https://t.co/BDCkTaYnqQ
    FXStreet News 17438m

    AMC shares have done it again and can truly lay claim to being the meme stop king. Gamestop who? AMC has totally dominated the retail meme stock rally with incredible gains as the stock smashed through the January high which was called the GameStop rally.

    Well, some GameStop protagonists ended up before congress and GME is due to have a movie made about the saga but seeing as how AMC owns those cinemas, GameStop is now destined for a supporting, bit-part role. AMC caused some furore on Tuesday as it became clear that Mudrick Capital had done what appeared to be a nice turn on its investment with a quick day trading profit most would have been proud of.

    However, now it is clear Mudrick left quite a few crumbs on the table, crumbs which were quickly devoured by the #AMCAPES as the beast was roused and drove the stock higher in a frenzy of activity. Volumes again surged to new highs and dominated the New York Stock Exchange. AMC now finds itself in a...

  • Deutsche's US investment banking unit should 'plan for all our teams to resume operating from the office no later than Labor Day' Link
    Financial News 17438m

    Deutsche Bank will get its US investment bank employees back to the office by September, following plans to roll out a hybrid working for its global staff laid out by senior executives this week.

    The German lender told staff within its investment bank that they should "plan for all our teams to resume operating from the office no later than Labor Day", according to a memo seen by Financial News, in another sign that Wall Street firms are planning a return after more than 18 months of working remotely.

    Labor...

  • Chancellor: This time isn’t different, but scarier Link https://t.co/gs6inCWx7O
    ReutersBreakingviews 17438m

    By any number of proven valuation measures American stocks are poised to deliver negative returns in future years. To believe otherwise is to suggest that “this time is different” – four of the most dangerous words in investing parlance. Active managers will have their day.

  • Bangladesh plans to keep its budget loose for a third straight year, as the government seeks to boost spending to spur economic activity Link
    Bloomberg Markets 17438m

    The government proposes a 6.04 trillion taka ($71 billion) national budget for the year starting July 1, Finance Minister A.H.M. Mustafa Kamal said in parliament Thursday. The spending, which needs to be approved by lawmakers, represents a 12% increase from the current year’s revised plan.

  • Sri Lanka readies for oil spill from sunken cargo ship Link https://t.co/Bs4q7DOzoU
    Reuters 17438m

    Sri Lanka on Thursday readied for the possibility of an oil spill after a cargo ship laden with chemicals sank off its western coast.

    The Singapore-registered MV X-Press Pearl, carrying 1,486 containers, including 25 tonnes of nitric acid along with other chemicals and cosmetics, was anchored off the port city of Negombo when a fire erupted onboard after an explosion on May 20.

    Flaming containers filled with chemicals tumbled into the sea from the ship's deck as emergency crews sought to contain the blaze over the ensuing two weeks.

    The craft began to sink early on Wednesday, and a salvage crew tried to tow the vessel to deeper water, away from the coast, but the attempt was abandoned after the rear of the ship touched the sea bed.

    The ship's operators, X-Press Feeders, said in a statement on Thursday there were still no signs of a fuel oil spill from the ship, and that much of the toxic cargo had been incinerated in the fire.

    "Salvors...

  • Company announcement: Etoro and Fintech Acquisition Corp sumbit registratio... Link #fintech
    Finextra 17438m
  • Are you conducting research on inflation? Submit your paper and present your research at our online conference organised with the Centre for Inflation Research @ClevelandFed. Our call for papers is open until 1 July 2021 Link https://t.co/Y8jIZiluor
    European Central Bank 17438m

    The ECB and the Federal Reserve Bank of Cleveland’s Center for Inflation Research will organise the Inflation: Drivers and Dynamics 2021 conference, to be held virtually on 7-8 October 2021. The conference will bring together top researchers from academia, central banks and other policy institutions to present research findings related to inflation.

    Emi Nakamura (University of California-Berkeley) and Olivier Coibion (University of Texas-Austin) will be keynote speakers. Philip R. Lane and Isabel Schnabel, members of the ECB’s Executive Board, and Loretta J. Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland, will provide remarks.

    Some of the topics of interest include, but are not limited to:

  • A federal appeals court refused to overturn the U.S. CDC's national ban on residential evictions Link
    Reuters 17443m

    A federal appeals court on Wednesday refused to overturn the U.S. Centers for Disease Control and Prevention's (CDC) national ban on residential evictions.

    In a blow to landlords, a three-judge panel of the U.S. Court of Appeals for the District of Columbia said it would not lift a stay of a lower court ruling that had declared the eviction ban unlawful.

    In language suggesting that the government’s eviction ban was lawful, the panel said the government "has made a strong showing that it is likely to succeed on the merits" of its appeal. The moratorium, which is set to expire on June 30, covers renters whose incomes were hit by COVID-19.

    Ever since the CDC implemented the eviction ban in September, landlord groups, arguing that they are on the brink of financial collapse after going months without being paid, have filed challenges in courts across the country, with mixed results.

    Legal experts said that Wednesday's ruling means that for now, the eviction...

  • Company announcement: Huntington gives customers a personal line of credit... Link #fintech
    Finextra 17443m
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