June, 2021

• 6 June

  Lululemon outlook tops sales estimates

  Bloomberg Lululemon Athletica Inc posted first-quarter sales and an outlook for the full year that beat expectations as the company saw a pickup in brick-and-mortar traffic along with strong online sales. The yogawear company raised the annual guidance it issued in March. Revenue is now seen at about $5.825 billion to $5.905 billion this year, up from the previous range ...

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• 6 June

  Hungarians target Orban on China in post-lockdown rally

  

  Bloomberg Thousands demonstrated against a Chinese university’s planned campus in Budapest, saying the project reflects Hungarian Prime Minister Viktor Orban’s disregard for democratic values. Mayor Gergely Karacsony led the protest against the government-backed $1.8 billion plan, which has mobilised opposition supporters in the capital ahead of next year’s general election. The rally was the first opportunity for residents to protest ...

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• 6 June

  Myanmar leader hosts Asean visit on peaceful resolution

  

  Bloomberg Officials from the Association of Southeast Asian Nations completed a visit to Myanmar after two days of discussions with military leaders about the path to peace in the country, which has been in upheaval since the February 1 coup and violent suppression of pro-democracy protesters. Brunei’s Second Minister of Foreign Affairs, Erywan Pehin Yusof, and Asean Secretary-General Lim Jock ...

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• 6 June

  Trump starts public re-emergence with focus on his grievances

  

  Bloomberg Donald Trump began his public re-emergence with a rambling speech in which he aired longstanding grievances, highlighted his actions as president, and decried President Joe Biden and Democrats for undoing them. The former president spoke for about 90 minutes at the North Carolina Republican Party’s convention in Greenville. He’s expected to restart campaign-style rallies this summer, as Republicans look ...

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• 6 June

  G-7 strikes deal to revamp tax rules for biggest firms

  

  Bloomberg The Group of Seven (G-7) rich nations secured a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on US tech giants such as Amazon Inc and Facebook Inc. The agreement by the G-7 finance ministers in London satisfies a US demand for a minimum corporate tax rate of “at ...

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• 6 June

  Italy poised to get first EU recovery-fund tranche

  

  Bloomberg Italy may get the first part of a more than 200 billion-euro ($243 billion) European Union (EU) pandemic recovery-fund package as soon as next month, Il Messaggero cited Public Administration Minister Renato Brunetta as saying. The country stands to receive 25 billion euros “between July and August,” the newspaper quoted him as saying in an interview. Measures approved recently ...

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• 6 June

  Sweden’s mortgage rates to decline, says SBAB CEO

  Bloomberg Swedish mortgage rates can decline by as much as 0.15 percentage points as larger market participants seek to reverse a slide in market share, SBAB CEO Klas Danielsson was cited as saying by newspaper Svenska Dagbladet. Still, such a decline in mortgage rates “won’t be decisive” in spurring further house price gains, according to the chief executive of the ...

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• 6 June

  UK firms hire the most in 23 years after lockdown loosens

  

  Bloomberg UK companies are on a hiring spree after the government relaxed lockdown rules, employing permanent staff at the fastest pace in 23 years and advertising the most vacancies in three years. The figures from consultant KPMG and online job placement agency Adzuna add to evidence that the economy is bouncing back strongly from last year’s recession. That will feed ...

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• 6 June

  German unemployment falls in May

  Bloomberg German joblessness fell in May, adding to signs that the economy is starting to turn the page on the coronavirus pandemic as restrictions are loosened. The drop of 15,000 put the total number of unemployed at 2.74 million, keeping the rate at 6%, according to Federal Labour Agency. Germany’s infection rate has fallen sharply over the last five weeks ...

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• 6 June

  Canada suffers labour market setback ahead of reopening

  

  Bloomberg Canada’s labour market weakened for a second month amid widespread restrictions to control a third wave of Covid-19. The economy lost 68,000 jobs in May, Statistics Canada reported in Ottawa. That adds to the 207,100 positions lost in April. The unemployment rate rises to 8.2%, from 8.1%. Economists in a Bloomberg survey had predicted a loss of 25,000 jobs, ...

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