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Analysis-Bear market puts ESG investing to its first big test
Illumina loses challenge against EU antitrust probe into Grail deal
Date: July 13, 2022
By Foo Yun Chee LUXEMBOURG (Reuters) -U.S. life sciences company Illumina on Wednesday lost its challenge against European Union scrutiny of its $8 billion cash-and-stock takeover of Grail, as a top European court agreed the EU antitrust watchdog had the right to do so. The case is important for EU antitrust chief Margrethe Vestager who...
IEA says oil market walking tightrope due to economic, supply risks
Date: July 13, 2022
By Noah Browning LONDON (Reuters) – The global oil market is “walking a tightrope” between scarce supply and the possibility of a recession, the International Energy Agency (IEA) said on Wednesday, with higher prices and worsening economic conditions already taking a toll on demand. The cloudy outlook is reflected in volatile trading, with Brent crude...
Stocks and euro slip ahead of key U.S. inflation data
Date: July 13, 2022
By Marc Jones LONDON (Reuters) – Stocks slipped on Wednesday and the euro lurked just above parity against the dollar, as traders waited to see if U.S. inflation data later bolsters the case for another supersized Federal Reserve rate hike this month. Recession worries meant Europe stumbled out the blocks after a relatively steady session...
Sterling edges higher as UK growth beats forecasts
Date: July 13, 2022
LONDON (Reuters) – The British pound rose slightly on Wednesday, helped by a broadly weaker dollar and after data showed the UK economy grew unexpectedly in May. Economic output expanded by 0.5% in May, although consumer services fell as the surge in inflation hit shoppers. A Reuters poll of economists had pointed to zero growth...
Euro zone industrial output rises beyond expectations in May
Date: July 13, 2022
BRUSSELS (Reuters) – Euro zone industrial production increased by more than expected in May as output of capital and non-durable consumer goods picked up sharply during the month, data showed on Wednesday. The European Union statistics agency Eurostat said industrial production in the 19 countries sharing the euro single currency rose by 0.8% month-on-month and...
UBS promotes Khan to steer wealth management
Date: July 13, 2022
By Brenna Hughes Neghaiwi and Elizabeth Dilts Marshall NEW YORK (Reuters) -UBS, the world’s biggest wealth manager, on Tuesday named Iqbal Khan the sole head of the Swiss bank’s global wealth management division in an executive board reshuffle. Khan, who joined Switzerland’s biggest bank in 2019 to co-head its flagship division, will take over when...