Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Deutsche Bank signals return to normality with buyback and dividend
By Tom Sims and Frank Siebelt FRANKFURT -Deutsche Bank signalled a more positive outlook on Wednesday saying it would undertake a 300 million euro ($339 million) share buyback and pay a dividend…
Bank of Canada signals hikes coming soon, leaves key interest rate unchanged
By Julie Gordon and David Ljunggren OTTAWA – The Bank of Canada will soon starting hiking interest rates from record lows to combat inflation, Governor Tiff Macklem announced on Wednesday, saying the…
Synergy CEO says Restaurants not facing worker shortage, but wage shortage
Last year, we experienced The Great Resignation, which hit the hospitality industry especially hard. In November 2021, a record 4.5 million Americans quit their jobs — and 1 million of those were restaurant and hospitality…
U.S. should boost financing to Caribbean nations: Antigua PM
By Brian Ellsworth MIAMI – The United States should increase financing and aid to the Caribbean to help the region recover from the pandemic and cope with the growing impact of climate…
Wall Eyecare Associates Coming to Wall Towne Center in Manasquan
MANASQUAN, N.J. – Optical provider Wall Eyecare Associates is coming to Wall Towne Center in Manasquan, announced Levin Management Corporation (LMC). The 100,000-square-foot, grocery-anchored retail property sits on Route 34, less than one quarter mile from the intersection of Route 35. LMC…
Activist Legion Partners returned 35% in 2021
BOSTON – Activist investment firm Legion Partners, which last year was part of a group that settled for three board seats at retailer Kohl’s Corp, told clients that its fund returned nearly…
Italy’s doValue aims for 6% loan recovery rate by 2024
MILAN – Italy’s biggest debt recovery firm doValue will aim to keep the amount of loans it manages stable at 160 billion euros ($180.5 billion) to the end of 2024, while improving…
Bank of Canada says slack absorbed, sets stage for rate hike
OTTAWA, Jan 26 – The Bank of Canada on Wednesday said economic slack had been absorbed, setting the stage for its first rate hike since 2018, and forecast inflation would remain higher…
Germany sees further jump in inflation, stronger wage growth
BERLIN -The German government expects consumer price inflation to rise further this year, contrary to earlier projections, which will likely lead to higher wage demands by labour unions, the economy ministry said…
Global financial sector ETFs see huge inflows this year
By Patturaja Murugaboopathy – Global financial sector ETFs have seen vast inflows since the start of this year, according to Refinitiv Lipper data, as investors bought into a sector set to benefit…
UK public’s inflation expectations hit record high – Citi/YouGov
LONDON -The British public’s expectations for inflation in 12 months’ time jumped to a record high in January, according to a monthly survey that will bolster the Bank of England’s concerns that…
Cuban peso in free fall against the dollar
By Marc Frank HAVANA – The Cuban peso was trading at nearly 100 to the dollar on the informal market Tuesday, according to a trader and online trackers, a depreciation of more…
SoftBank-backed Gopuff hires banks for IPO -sources
By Anirban Sen, Krystal Hu and Echo Wang -Gopuff, the SoftBank Group Corp -backed delivery startup that was valued at about $15 billion last year, has tapped banks to lead preparations for…
AllianzGI creates private markets impact investment unit
By Simon Jessop and Elizabeth Howcroft LONDON -Asset manager Allianz Global Investors, part of German insurer Allianz, said on Wednesday it had set up a new unit focused on ‘impact’ investing in…
Germany to host G7 finance meeting May 18-20, Finance Minister tells paper
BERLIN – Germany will host the main finance meeting of its presidency of the Group of Seven economic powers from May 18-20, the Rheinische Post newspaper reported on Wednesday. “This year, the…
M&G takes a stake in Moneyfarm to boost UK digital offer
LONDON -British money manager M&G said on Wednesday it has taken a minority stake in digital wealth manager Moneyfarm as part of a partnership to provide investment services to consumers in Britain.…
German exporters start year in hopeful mood – Ifo
BERLIN – The mood among German exporters brightened considerably in January, with almost all industries expecting growth, the Ifo economic institute said on Wednesday. Ifo’s barometer for export expectations rose to 17.4…
CMC Markets says client money in third quarter close to record highs
– Online trading platform CMC Markets Plc said on Wednesday its amount of client money and assets under administration in the third quarter remained close to record highs, and reiterated its annual…
French consumer confidence dips in January over inflation worries
PARIS – French consumer confidence dipped in January, an official statistics survey showed, as concerns over inflation weighed on the euro zone’s second biggest economy. Consumer confidence slipped to 99 points from…
Asset manager Brewin Dolphin’s income rises as inflows remain robust
– Brewin Dolphin on Wednesday posted a rise in income for the first quarter, helped by continued growth in inflows to record levels since last year, as the wealth manager weathered disruptions…
Quilter reports strong Q4 2021 results
LONDON – Fund manager Quilter saw a strong final quarter of 2021, with improved year-on-year net flows, it said in a trading statement on Wednesday. Assets under management reached 111.8 billion pounds…
Factbox-Gas and nuclear are ‘green’? Not so fast, say some investors
By Simon Jessop and Kate Abnett – The European Commission’s draft proposal that natural gas and nuclear energy should be labelled as green investments has split money managers. Below are the views…
Analysis-Investor clash on gas and nuclear muddies EU green finance drive
By Simon Jessop and Kate Abnett LONDON/BRUSSELS – European efforts to reach a common definition of sustainable investments risk fragmenting the market they aimed to unify, as investors are deeply divided over…
Business investment into Singapore dropped 31% in 2021
SINGAPORE – Business investment commitments into Singapore dropped about 31% last year, marking the first decline in five years and after hitting a more than decade high in 2020, government data showed…
Taiwan Q4 economic growth seen restrained, full year could exceed 6%- Reuters Poll
TAIPEI – Taiwan’s trade-reliant economy is expected to have expanded at a slightly faster pace in the fourth quarter supported by strong tech exports though unable to match the burning pace of…
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