Brent oil benchmark hits 2-year high, WTI highest since 2018
Oil prices continued to rally on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.
Dollar teeters as inflation test looms
The dollar clung to a small bounce on Wednesday as traders looked to upcoming U.S. inflation data and a European Central Bank (ECB) meeting to gauge the global recovery and policymakers’ thinking.
UK pushes for financial services to be exempt from G7 global tax plan
British finance minister Rishi Sunak is pushing for financial services firms to be exempt from a new global tax system which was agreed last week by the Group of Seven (G7) economies, sources familiar with the negotiations said.
Bitcoin falls to 3-week low as IRS seeks approval for reporting rules
Bitcoin fell to a three-week low on Tuesday amid signs of institutional investor caution, while the head of the U.S. Internal Revenue Service called for lawmakers to provide authority for tighter reporting rules on crypto transfers.
No inflation fears here: ARK’s Wood says portfolio should triple in five years
Lower prices for growth stocks as a result of the inflation-driven selloff that began in February should mean that Ark Investment’s portfolios should see a “more than tripling” over the next five years, star fund manager and firm founder Cathie Wood said in a webinar on Tuesday.
Britain takes step to classifying ‘green’ investments
Britain has set up a group of experts to help it classify climate-friendly assets and stop “greenwashing” of investments that don’t live up to their sustainable credentials.
Analysis: Big countries’ tax deal to reveal rift in Europe
A global deal on corporate tax looks set to bring to a climax a deep-seated European Union battle, pitting large members Germany, France and Italy against Ireland, Luxembourg and the Netherlands. read more
Biden supply chain ‘strike force’ to target China on trade
The United States will target China with a new “strike force” to combat unfair trade practices, the Biden administration said on Tuesday, as it rolled out findings of a review of access to critical products, from semiconductors to electric-vehicle batteries.
Palihapitiya’s $16 mln bet on Clover worth $682 mln on Reddit rally
Serial dealmaker Chamath Palihapitiya’s $16 million investment in the special purpose acquisition company (SPAC) that took Clover Health Investments Corp (CLOV.O) public was worth $682 million on Tuesday after a Reddit-fueled rally in the health insurer’s shares.
Wall Street grapples with new SPAC equity contracts after regulator crackdown
Wall Street accountants and lawyers are trying to figure out new equity agreements to lure investors back to the blank-check company market after the U.S. regulator cracked down on the use of warrants, six industry executives told Reuters.
