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EMEA Morning Briefing: Caution to Dominate Ahead -2-

Democratic Leaders Start Talks on Second Infrastructure Bill

WASHINGTON-Democratic leaders began to discuss the contours of a broad-ranging child care, climate and education package Tuesday in an effort to appease the concerns of the party's liberal wing over the narrower scope of a bipartisan infrastructure proposal under discussion.

Progressive Democrats in both chambers criticized the size and breadth of a more limited agreement reached late last week by a bipartisan group of 10 senators. They threatened to withhold their votes unless they received assurances that it would be accompanied by a far-reaching package that could pass with only Democratic votes.

   
 
 

Lina Khan, Critic of Large Tech Firms, to Lead Federal Trade Commission

WASHINGTON-The Senate on Tuesday confirmed Lina Khan for a seat on the Federal Trade Commission, and President Biden tapped her to lead the agency, a post that will allow her to pursue aggressive enforcement of U.S. antitrust and consumer-protection laws.

Ms. Khan, a 32-year-old Columbia University law professor who has been a vocal critic of powerful technology companies, was confirmed on a 69-28 vote. With her confirmation secured, Mr. Biden immediately designated her as FTC chairwoman, a move that caps the ascendancy of a progressive camp that favors far-reaching changes to antitrust enforcement.

   
 
 

Copper Falls to Eight-Week Low on Fear China Might Release Stockpiles

Copper prices fell Tuesday to their lowest level in eight weeks on concerns that China may tamp down on rising commodity prices and that the metal's red-hot rally has gone too far.

Front-month copper futures slid 4.2% to $4.34 a pound, falling 9% below their May record. Tuesday marked the worst day for the industrial metal, which has a variety of uses from electronics to cars and home building, since late April. In London, three-month copper forward contracts on the London Metal Exchange dropped about 4% to $9,553.50 a metric ton.

   
 
 

Israeli Airstrikes Hit Gaza After Nationalists' March Stokes Jerusalem Tensions

JERUSALEM-Israeli police fired rubber bullets at Palestinians trying to disrupt a right-wing nationalist march in Jerusalem, while Hamas militants launched incendiary balloons into Israel that triggered Israeli airstrikes in the Gaza Strip, raising the specter of renewed violence in the region.

The Israeli military said it carried out a limited series of airstrikes on the militant group's compounds across the Gaza Strip, marking the first time the rival forces have traded blows since the two sides agreed to a May 21 truce that brought an end to an 11-day conflict.

   
 
 

FDA Authorizes More Covid-19 Vaccine Doses From Troubled Baltimore Plant

The Food and Drug Administration cleared an additional batch of Johnson & Johnson Covid-19 vaccine doses Tuesday from a troubled production plant in Baltimore.

The agency cleared 15 million doses, bringing the total doses authorized for export to 25 million, according to a senior U.S. official.

   
 
 

Oracle Reports Record Annual Profit, Revenue

Oracle Corp. reported an 8% revenue increase in the latest period, ending the year with a record $40.48 billion in revenue.

The business software giant also reported a record $13.75 billion profit for the year ended May 31 and pointed to accelerating growth rates of both its applications and infrastructure cloud businesses.

   
 
 

Write to paul.larkins@dowjones.com

   
 
 

Expected Major Events for Wednesday

06:00/DEN: 1Q Labour force survey

06:00/UK: May UK producer prices

06:00/UK: May UK monthly inflation figures

07:00/SVK: Apr New orders in industry

07:00/CZE: May PPI

08:00/GER: Ifo Economic Forecast

08:30/UK: Mar Card Spending statistics

08:30/UK: Apr UK House Price Index

09:00/CRO: May CPI

09:00/EU: 1Q Labour Cost Index

09:00/CYP: May Harmonised CPI

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This article is a text version of a Wall Street Journal newsletter published earlier today

 

(END) Dow Jones Newswires

June 16, 2021 00:23 ET (04:23 GMT)

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