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Week ahead: UK inflation and retail sales, Eurozone PMIs, Fed minutes
On Monday, England will enter the third stage of its roadmap out of lockdown, with the reopening of indoor dining, pubs, entertainment and foreign travel.
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Business
Reuters
European climate group says EU needs far tougher van CO2 targets
The European Union needs to dramatically toughen weak CO2 targets for commercial vans to spur a shift to electric models and phase out fossil-fuel sales entirely by 2035, European campaign group Transport and Environment (T&E) said on Monday. T&E said an analysis of van sales in 2020 showed no change in CO2 emissions from 2017 and found the EU's CO2 targets are so weak that most manufacturers can meet them without selling a single zero-emission van. But electric van sales have languished at about 2% of the market.
News
Reuters
Premature to be envisaging second European stimulus plan -EU antitrust chief
The European Union must focus on its current 750-billion-euro ($910 billion) pandemic recovery package before envisaging further stimulus, the EU's antitrust chief told Les Echos, adding that talk of a second plan was a "bit bizarre". In an interview to be published on Monday in the French newspaper, Margrethe Vestager, the European Commission's executive vice president, shot down the need for an additional economic stimulus package for now. His push has raised questions among some in Europe over whether more would be needed to boost companies and investment programmes post-COVID 19.
Business
Reuters
Bitcoin price lower after Musk tweet
On May 12, Musk said Tesla will no longer accept bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency. The Tesla boss' tweets, which had helped drive some of the gains in bitcoin in recent months, last week triggered a 17% slide in the value of the cryptocurrency when he said his company's customers would no longer be able to use bitcoin to buy its cars.