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The Telegraph
EU’s ‘purism’ risks Northern Ireland stability, claims Lord Frost
The European Union’s “legal puritism” poses a risk to stability in Northern Ireland, the Brexit minister has said as he stressed the need for progress in talks this week. Lord Frost has accused the EU of being inflexible in the dispute which risks making the situation on the ground “totally unsustainable”. The Protocol has been the source of tension in unionist communities because it places a border between Northern Ireland and the rest of the United Kingdom, in the Irish sea. Referring to the t
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TechCrunch
Apple refines iOS 15 notifications with Focus, Summary features
As part of the update to iOS 15, Apple will allow iPhone users to better customize how they want to be notified about incoming calls, texts or updates from apps based on their current status. With the new Focus feature instead of just silencing calls and notifications through Do Not Disturb, you’ll be able to set different types of notification preferences based on your status — like whether you’re driving, working, sleeping or through the use of custom categories of your own choosing. For example, the phone might suggest you turn off notifications when you’re arriving at the gym.
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Variety
NBCU Says Tokyo Olympics Will Happen, Plans 7,000 Hours of Coverage
Concerns about holding the Tokyo OIympics continue to surface, but at least one participant is ready to go all in on it. NBCUniversal plans to broadcast 7,000 hours of Olympics coverage across NBC, USA, CNBC, NBCSN, and Peacock, among other properties, signaling the intense economic interest in keeping the athletic extravaganza going despite the challenges […]
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TechCrunch
iPadOS 15 announced at WWDC, features improved multitasking and surprising Swift Playgrounds features
Apple today introduced the next version iPadOS with more widgets and a better multitasking system. The announcement was by Apple SVP, Craig Federighi at Apple’s annual developer’s conference, WWDC. The features announced today are welcomed updates, but fall short from the major rework the iPad sorely deserves.The new iPad features come in addition to the bevy of features and updates found in iOS 15, which were also announced today.
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Associated Press
Carbon dioxide levels hit 50% higher than preindustrial time
The annual peak of global heat-trapping carbon dioxide in the air has reached another dangerous milestone: 50% higher than when the industrial age began. The National Oceanic and Atmospheric Administration said the average carbon dioxide level for May was 419.13 parts per million. Carbon Dioxide Levels peak every May just before plant life in the Northern Hemisphere blossoms, sucking some of that carbon out of the atmosphere and into flowers, leaves, seeds and stems.
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Associated Press
Biden invites Ukrainian president to White House this summer
President Joe Biden has invited Ukrainian President Volodymyr Zelenskyy for a White House visit this summer. National security adviser Jake Sullivan said Biden extended the invitation during a phone call on Monday with Zelenskyy, who has publicly raised concerns about the U.S. president’s plan to meet with Russian leader Vladimir Putin and about a nearly completed Russia-to-Germany natural gas pipeline that would allow Russia to bypass Ukraine.
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Reuters
EU quizzes industry over euro clearing as LSE offers olive branch
LONDON (Reuters) -The European Union is asking financial market participants to suggest legislative changes that would help them transfer clearing in euro derivatives from London to the bloc as Britain’s stock exchange offered an olive branch. Britain’s access to the EU financial market was largely severed after Brexit fully took effect on Dec. 31, 2020 and the London Stock Exchange Group’s clearing unit LCH has permission to serve EU customers only until June 2022. The EU’s executive European Commission is due to hold workshops with customers of clearing houses about shifting euro interest rate swaps contracts worth trillions of euros from London to Deutsche Boerse in Frankfurt.
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Bloomberg
Oil Traders Keep North Sea Crude on Tankers Despite Rally to $72
(Bloomberg) — Here’s something for oil bulls to chew on as Brent crude trades near $72: tankers are holding several million barrels of oil in the North Sea in what is normally a strongly bearish indicator.Five tankers carrying about 6 million barrels of North Sea crude have been floating off European shores for two to three weeks, according to ship tracking data compiled by Bloomberg. As the current market structure doesn’t make economic sense for storage, the increase in floating barrels looks
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Reuters
British ‘Treasure Island’ tax havens face a tempest
Britain’s exotic network of “Treasure Island” tax havens could be facing the biggest threat to its existence in half a century after the United States and its allies pledged to squeeze more tax out of large, profitable multinational companies. The often distant islands of Britain’s former empire have served as the premier jurisdiction for everyone from cash-rich Chinese officials to Russian oligarchs to Western firms to hedge funds seeking lower taxes – or complete secrecy. But a tax deal hashed out by Group of Seven finance ministers in a grand 19th Century mansion near Buckingham Palace is likely to hit Britain’s treasure islands hard after decades of dodging attempts by major economies to claw back revenue.
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Reuters
Bosch opens German chip plant, its biggest-ever investment
BERLIN (Reuters) -Robert Bosch opened a 1 billion euro ($1.2 billion) chip plant in Germany on Monday, a record investment by the leading automotive supplier as it stakes a claim to equipping the latest electric and self-driving cars. The plant, located in a semiconductor hub near Dresden, opens as the automotive industry battles a global chip shortage, and will increase Bosch’s ability to serve carmakers directly, relying less on third-party manufacturers. Addressing an online opening ceremony, Chancellor Angela Merkel said semiconductor shortages were hampering Germany’s economic recovery, and that it was important to strengthen resilience against external supply disruptions.
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Bloomberg
Tesla Shares Slip After Musk Cancels Long-Range Plaid+ Sedan
(Bloomberg) — Tesla Inc.’s decision to drop a longer-range version of its high-performance Model S sedan squashed investors’ hopes for a relief rally on Monday after declining six out of the last seven weeks.The electric-car maker’s shares fell as much as 2.7% in New York trading, extending the decline from their peak in late January to 34%, after Elon Musk tweeted that the Model S Plaid+ sedan was canceled. The chief executive officer said there’s “no need” to offer the car because the shorter
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The Telegraph
US tech stocks shrug off G7 tax deal
Labour crisis deepens as retailers struggle to find enough staff Housebuilders boost FTSE 0.1pc UK property prices soar to new record of £261,743 Any further restrictions could spell the end, says Caffe Nero Roger Bootle: It is right that China is excluded from G7 Sign up here for our daily business briefing newsletter
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Bloomberg
Anglo’s Coal Spinoff is Worth Zero, Research Firm Boatman Says
(Bloomberg) — Anglo American Plc’s South African coal mines, which will be listed in a new vehicle this week, are worthless given the scale of environmental clean-up costs, according to a research report from short-seller Boatman Capital.Anglo will list Thungela Resources in Johannesburg and London this week, handing ownership to existing shareholders, as part of its retreat from thermal coal, the most polluting fuel. The world’s biggest miners have been looking to exit from the fuel amid inten
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Bloomberg
MicroStrategy is Selling Corporate Bonds to Buy Bitcoin
(Bloomberg) — MicroStrategy Inc. is borrowing $400 million to buy more Bitcoin while also writing down the value of its existing holdings. It’s the first-ever junk bond sale used for financing purchases of the volatile cryptocurrency.The Tysons Corner, Virginia-based enterprise software company said in a filing Monday that the senior secured notes will be available to qualified institutional buyers. The private placement is $23 million higher than the company’s entire operating cash flow since
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Bloomberg
Two Fintech Deals Add to Startup Funding Rush in Pakistan
(Bloomberg) — A flood of overseas capital into Pakistan’s fintech startups that began during the coronavirus pandemic is continuing unabated, with two new fundraising deals announced on Monday.Khadim Ali Shah Bukhari Securities Pvt.’s fintech trading app KTrade as well as former Morgan Stanley fund manager Omair Ansari’s early wage access platform have raised a total of $6.6 million, adding to the $19.3 million funding for the country’s startups in the first quarter of 2021.Of that, nearly $15
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