Wednesday, 3 March 2021

World's biggest wealth fund puts Japan's Kirin Holdings on watch list over Myanmar link

World's biggest wealth fund puts Japan's Kirin Holdings on watch list over Myanmar link

The Norwegian central bank said on Wednesday it had put Japan's Kirin Holdings Ltd Co on a watch list for possible exclusion from its $1.3 trillion sovereign wealth fund over the firm's ties to a business owned by Myanmar's military.

Disney to close 60 North American retail stores, focus on e-commerce

Walt Disney Co will close at least 60 Disney retail stores in North America this year as the company revamps its digital shopping platforms to focus on e-commerce, the company said on Wednesday.

Wall Street slides on tech sell-off, other world stocks flat

Wall Street fell on Wednesday as investors sold off technology stocks, while shares from Asia to Europe were flat, while the dollar rose even as U.S. jobs data disappointed investors and virtual curreny bitcoin jumped.

Wall Street drops as high-flying tech stocks retreat

The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery on the back of fiscal stimulus and vaccination programs.

Star stockpicker Cathie Wood remains bullish on bitcoin, warns on banks

ARK Invest founder and chief investment officer Cathie Wood reiterated her bullish position on Tesla and bitcoin on Wednesday while warning that the growth of digital wallets will "gut" traditional banks.

Biden says it's a 'big mistake' for states to lift mask mandates

U.S. President Joe Biden on Wednesday said decisions to end the required wearing of masks - such as those by governors of Texas and Mississippi - amounted to "Neanderthal thinking" given the rising death toll from the coronavirus pandemic.

Amazon in talks with NFL for Prime Video rights deal: WSJ

The National Football league (NFL) is close to a media rights deal with Amazon.com Inc's Prime Video service, which would allow the streaming platform to carry many games exclusively, the Wall Street Journal reported on Wednesday.

U.S. economy got off to modest start in 2021, Fed says

The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing "robust," but the job market showing only slow improvement, the Federal Reserve reported on Wednesday.

Minneapolis Fed casts broader net to gauge state of U.S. economy

The Minneapolis Federal Reserve Bank's section of a key U.S. central bank report on Wednesday for the first time flagged insights on the state of the U.S. economy from the perspectives of workers and of minority- and women-owned businesses.

American Eagle forecasts higher spending for fiscal 2021

American Eagle Outfitters Inc forecast higher spending for fiscal 2021 on Wednesday, as the apparel retailer plans supply chain investments to ensure fast delivery and easy shopping for consumers making online purchases.

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