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Prize winner? Welcome to Britain with relaxed visa requirements By Reuters

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Prize winner? Welcome to Britain with relaxed visa requirements By Reuters



© Reuters. FILE PHOTO: Britain’s Secretary of State for the Home Department Priti Patel speaks during a parliament session at the House of Commons in London, Britain March 15, 2021. UK Parliament/Jessica Taylor/Handout via REUTERS

LONDON (Reuters) – Prize winners in the sciences and arts will have their applications to be able to live and work in Britain fast-tracked from Wednesday, the interior ministry said, pressing its post-Brexit pledge to attract only the “best and brightest”.

Since completing its exit from the European Union, Britain has introduced a new system for work visas based on points which are on a scale depending, among other things, on the type of job offer, qualifications and the ability to speak English.

While the government says its new system is fair in its treatment of migrants from around the world after Britain’s departure ended free movement, critics say it is creating a hostile environment that leaves some sectors without workers.

From Wednesday, winners of awards such as the Nobel Prize, Oscars and Golden Globes will be able to live and work more easily under “the Global Talent visa route”, the interior ministry said in a statement.

That would mean the system would allow applicants who hold a qualifying prize to fast track an endorsement application and instead make a single visa application, it added.

“Winners of these awards have reached the pinnacle of their career and they have so much to offer the UK. These important changes will give them the freedom to come and work in our world leading arts, sciences, music, and film industries as we build back better,” interior minister Priti Patel said.

“This is exactly what our new point-based immigration system was designed for – attracting the best and brightest based on the skills and talent they have, not where they’ve come from,” she added in the statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Blinken says on Chinese investment in West: we have to be ‘very careful’ By Reuters

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Blinken says on Chinese investment in West: we have to be ‘very careful’ By Reuters



© Reuters. FILE PHOTO: U.S. Secretary of State Antony Blinken arrives at the G7 foreign ministers meeting in London, Britain May 5, 2021. Ben Stansall/Pool via REUTERS

LONDON (Reuters) – U.S. Secretary of State Antony Blinken said the West had to be very careful about the exact nature of Chinese investment in Western economies.

“I think we have to be very careful about exactly what the nature is of that investment,” Blinken told the BBC in an interview when asked about Chinese investment in the West.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Analysis-Global rates volatility forces investor rethink on Asian bonds By Reuters

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Analysis-Global rates volatility forces investor rethink on Asian bonds By Reuters



© Reuters. FILE PHOTO: People walk with umbrellas in Lujiazui financial district in Pudong, following the coronavirus disease (COVID-19) outbreak in Shanghai, China September 17, 2020. REUTERS/Aly Song

By Stanley White and Andrew Galbraith

TOKYO/SHANGHAI (Reuters) – A pause in a broad selloff in U.S. treasuries and other global bonds last month has given foreign investors time to rethink their Asian holdings and shift money to safer markets such as China, away from riskier countries like Indonesia and India.

China, India and Indonesia were among the largest recipients of yield-seeking foreign investment last year.

But a divergence in economic recoveries from the coronavirus pandemic, a dollar rally and questions about the Federal Reserve’s resolve to keep U.S. rates low have forced fund managers to see some markets as safer than others.

Moreover, a surge in U.S. yields in the first quarter of 2021, the sharpest since late 2016, has blunted the appeal of some lower-yielding Asian bond markets.

“Within Asia, you have countries like Thailand, Singapore, and Malaysia that are now less attractive vis-a-vis the United States,” said Leonard Kwan, an emerging markets fixed income portfolio manager at T. Rowe Price in Hong Kong. “It would likely be those markets that we look to rotate out of, and into Treasuries.”

In March, foreign investors turned net sellers of Chinese sovereign bonds for the first time in more than two years. But asset managers remain bullish because of China’s high real yields and its close links to a rebound in global trade.

China’s bond market saw a rare 8.95 billion yuan ($1.38 billion) drop in holdings by overseas investors in March as they trimmed positions in Chinese government bonds, official data showed.

Kwan says he has continued to plough money into Chinese bonds, citing China’s domestically driven market with low correlations to global investment and rates cycles.

Davis Hall, head of capital markets in Asia at Indosuez Wealth Management in Hong Kong, reckons buying Chinese debt is a “no brainer” for Japanese, Swiss, or European investors with attractive yields compensating for currency risks.

real yields, which adjust for changes in consumer prices, are above 3%. In comparison, Japan’s and Switzerland’s real yields are less than 1% while German bunds and U.S. Treasuries carry negative real yields.

China’s efforts to rein in credit growth are a concern, but asset managers expect the central bank will avoid raising rates and resort to other tools that pose fewer risks to bond prices.

Last year’s investor darlings, Indonesia and India, are however no longer so, as asset managers worry about quantitative easing and currency weakness, suggesting a bigger shift in allocations around the region.

Foreign investors sold a net $1.1 billion in Indonesian bonds in February and $1.4 billion in March, marking the biggest outflows in a year. They sold a net $1.8 billion of Indian bonds in February and March, the biggest outflows in almost a year.

While a yield of 6.5% on its 10-year bond makes Indonesia an attractive bet, the prospects of a patchy and slow economic recovery, high fiscal deficit and a shaky currency that has already shed 2.8% against the dollar this year worry investors.

India is not as popular with bond investors as China or Indonesia, and risks to its economic outlook are more acute after a fierce surge in coronavirus infections.

Hayden Briscoe, head of fixed income global emerging markets and Asia Pacific at UBS Asset Management in Hong Kong, says investors are likely to keep away from emerging market bonds as these central banks contemplate raising pandemic-era low interest rates.

“At the moment you’ve got a few things going wrong,” Briscoe said. “You’ve got the rates going wrong for your rate volatility in the U.S. and then you’ve got the dollar on the stronger side now. It’s time to be sort of wary on your emerging market allocations.”

While U.S. volatility began to subside at the end of April, it remains relatively elevated and investors could be more “idiosyncratic” in their allocations and assessment of whether bonds pay enough to compensate for risks.

“There’s always the tension of, is there enough carry to compensate for the volatility?” said Briscoe.





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Stellantis NV Earnings, Revenue Beat in Q1 By Investing.com

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Stellantis NV Earnings, Revenue Beat in Q1 By Investing.com



© Reuters. Stellantis NV Earnings, Revenue Beat in Q1

Investing.com – Stellantis NV reported on Wednesday first quarter that beat analysts’ forecasts and revenue that topped expectations.

Stellantis NV announced earnings per share of €0.4356 on revenue of €37B. Analysts polled by Investing.com anticipated EPS of €0.3885 on revenue of €36B.

Stellantis NV shares are up 1.36% from the beginning of the year, still down 3.86% from its 52 week high of €15.46 set on March 11. They are under-performing the which is up 10.65% from the start of the year.

Stellantis NV follows other major Consumer Cyclical sector earnings this month

Stellantis NV’s report follows an earnings matched by Moncler SpA on April 21, who reported EPS of €0.0107 on revenue of €365.46M, compared to forecasts EPS of €0.0107 on revenue of €362.99M.

Piaggio&C had beat expectations on April 29 with first quarter EPS of €0.03 on revenue of €385M, compared to forecast for EPS of €0.02 on revenue of €346.3M.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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