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10 things you need to know before the opening bell

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Reddit and global news sites including FT, New York Times and Bloomberg experience outage

In this articleNYTCofounder and executive chair of Reddit, Alexis Ohanian.Jerod Harris | Getty ImagesReddit and global news websites including the FT, New York Times and Bloomberg experienced a major outage Tuesday morning, with some users unable to access the sites.Some visitors to the websites in both the U.K. and U.S. received the error message: “Error 503 Service Unavailable.”The first reports of the outage started around 6 a.m. ET, but sites were mostly back online for users by around 7 a.m. ET. However a number of sites, including U.K. government website gov.uk and the New York Times were experiencing slow loading times and graphics issues.U.S. cloud computing services provider Fastly said on its website at 5:58 a.m. ET that it was investigating a technical issue. At 6:44 a.m. ET, Fastly said the issue had been identified and “a fix is being implemented.”Fastly operates a content delivery (or distribution) network. This is a network of servers and data centers around the world that enables the transfer of assets needed for loading internet content like HTML pages, javascript files, images, and videos.This is a developing news story.

Alibaba expands cloud products with livestream shopping in its battle against Amazon

In this articleGOOGLAMZNMSFT700-HK9988-HKZhang Jianfeng, president of Alibaba Cloud Intelligence, speaks during the opening ceremony of Alibaba Renhe Cloud Data Center on September 16, 2020 in Hangzhou, Zhejiang Province of China.Qian Chenfei | China News Service | Getty ImagesGUANGZHOU, China — Alibaba has launched a slew of new cloud computing products as the Chinese e-commerce giant looks to expand across Asia.Cloud computing is seen as a key profit driver for Alibaba over the long term and in the past few years, it has been boosting its presence aggressively outside of China.On Tuesday, Alibaba announced plans to open a new data center in the Philippines by the end of the year and launched a third data center in Indonesia. Expanding data centers allows cloud providers to boost their capacity in certain countries or regions.Alibaba also launched a cloud-based livestreaming product designed for online shopping. It will allow e-commerce players to launch a live stream shopping feature on their websites or apps that are hosted on Alibaba’s cloud.Livestream shopping usually involves a host talking about products that customers can buy directly via the live broadcast. It has become very popular in China and is growing in other parts of Asia.The Chinese e-commerce firm

A million Europeans already have EU Covid-19 certificate

STRASBOURG, FRANCE (AFP) – More than one million Europeans have received the new European Union (EU) Covid-19 health certificate being rolled out to unlock travel within the bloc, the European Commission said on Tuesday (June 8). EU Justice Commissioner Didier Reynders announced the figure to the European Parliament ahead of a vote to enshrine the document in law in time for the continent’s all-important summer tourism season. It is expected to be passed by a big majority after agreement between Members of the European Parliament and the EU’s 27 member states on details, with the vote result known early on Wednesday. The certificate – showing the bearer’s immunity to Covid-19 either through vaccination or previous infection, or their negative test status – is to be used for intra-EU travel from July 1, obviating the need for quarantine or further testing for travellers. But the commission wants as many EU countries as possible to start earlier. “The more certificates we can already issue, the easier the process will be during the summer – otherwise, we risk a big bang on the first of July, which we cannot afford,” Mr Reynders said. As at Tuesday, nine

Apple bull expects iPhone maker to hit $3 trillion market cap in 2022

In this articleAAPLVarious models of the Apple Inc. iPad at the company’s Yeouido store during its opening in Seoul, South Korea, on Friday, Feb. 26, 2021.Jean Chung | Bloomberg | Getty ImagesApple could hit a $3 trillion market capitalization in 2022, according to Wedbush analyst Dan Ives, who is bullish on the tech giant.The iPhone maker’s shares are down about 5% year-to-date. Earlier this year, investors dumped the company’s stocks following a historic December quarter.Apple is the world’s most valuable company with a current market cap of around $2.1 trillion. It crossed the first trillion in 2018 and the $2 trillion mark in 2020. Analysts, including Ives, have previously talked about Apple’s roadmap to the record $3 trillion mark.”We think ultimately 12 to 18 months from now,” Ives told CNBC’s “Street Signs Asia” on Tuesday when asked about a possible timeline to the next milestone.”If you look at the innovation, if you look at the supercycle playing out in the services business right now, I believe this is just sort of the next stage of growth,” Ives said, adding it is set to prove to skeptics that Apple remains focused on innovation.In late April, Ives increased Apple’s price target from

Take a look at the Maverick, Ford's new $20,000 hybrid pickup

2022 Ford Maverick. Ford

Rich nations are failing Covid-19's mental health test: OECD

PARIS (BLOOMBERG) – Governments are falling short in most areas where they could tackle mental health difficulties that sharply increased in the Covid-19 pandemic and already place a huge burden on economies around the world, the OECD said. The warning comes as the Paris-based organisation published its first attempt at benchmarking the efforts of its 38 members to address the social and economic costs of the phenomenon. It found the share of spending has declined in some countries in the last decade, and that even if access to services is improving, 67 per cent of people who wanted care reported difficulty getting it. “No mental health system delivers excellent performance across the board,” the OECD said. “In some areas, even the countries which are doing best cannot really be considered to be delivering excellent performance.” Beyond the suffering of individuals, government shortcomings have broader economic consequences. The OECD estimates mental ill-health costs more than 4.2 per cent of economic output, factoring in expenditures on treatment and lower productivity and employment. The challenge is set to mount with countries observing a surge in reported symptoms in 2020. Already before the pandemic and months of lockdowns and social distancing,

Nvidia's acquisition of Arm could reportedly be delayed by Chinese regulators

In this articleARMPNVDANvidia CEO Jensen Huang wearing his usual leather jacket.GettyNvidia has asked Chinese regulators to approve its $40 billion takeover of U.K. chip designer Arm, according to a report from The Financial Times on Tuesday that cites sources familiar with the matter.Santa Clara-headquartered Nvidia reportedly submitted an application to Chinese regulators in recent weeks. Arm did not immediately respond to CNBC’s request for comment. Nvidia said the regulatory process was confidential, but it remains confident that it will receive approval and “close in early 2022.”When the deal was announced last September, Nvidia and Arm said it would take approximately 18 months to go through. But Chinese regulators could take up to 18 months from now to reach a conclusion, according to the Chinese antitrust lawyers cited by the FT. Regulators in the U.K., Europe and the U.S. are also probing the deal.Arm has as a joint venture called “Arm China” with Chinese private equity firm Hopu Investments. Arm China is headquartered in Shanghai, meaning China’s Ministry of Commerce and China’s State Administration for Market Regulation will have the right to review the proposed Nvidia deal.Read the full story on The Financial Times here.

CAC 40 Marginally Higher In Early Trade

(RTTNews) – French stocks were little changed on Tuesday as investors awaited U.S. inflation data later this week for more indications about the Fed’s policy outlook. Closer home, France’s trade deficit widened to EUR 6.24 billion in April from EUR 6.14 billion in March, data published by customs office revealed. In the same period last year, the shortfall was EUR 4.54 billion. Both exports and imports grew 1.6 percent each on a monthly basis in April. Year-on-year, exports advanced 17.4 percent and imports climbed 21 percent. Separate data released by Bank of France showed that the current account deficit narrowed notably to EUR 1.4 billion in April from EUR 2.7 billion in March. The benchmark CAC 40 was up 9 points at 6,552 after gaining 0.4 percent the previous day. Banks traded mixed, with Credit Agricole down more than 1 percent.

Bitcoin slides 7% after U.S. seizes most of Colonial Pipeline ransom

A banner with the logo of bitcoin is seen during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.Marco Bello | AFP | Getty ImagesBitcoin’s price slipped again Tuesday. The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline.Court documents said investigators were able to access the password for one of the hackers’ bitcoin wallets. The money was recovered by a recently launched task force in Washington created as part of the government’s response to a rise in cyberattacks.The world’s largest cryptocurrency slid over 7% at 5 a.m. ET to a price of $32,952, according to Coin Metrics data. Smaller digital coins also slumped, with ether falling 7% to $2,524 and XRP losing around 6%.In April, 2021 was looking to be a banner year for digital assets, with bitcoin having topped $60,000 for the first time ever. But a recent plunge in crypto prices has shaken confidence in the market. Bitcoin sank to nearly $30,000 last month, and is currently down almost 50% from its