Anaplan still looks cheap given its growth profile, the large industry it's disrupting, and the gradual reopening of the economy.
(Bloomberg) -- Oil extended losses in Asia on a stronger dollar and a still-surging coronavirus after slumping the most in almost four weeks on Friday following the release of disappointing U.S. economic data.Futures in New York fell below $52 a barrel after tumbling 2.3% on Friday. The dollar held gains Monday after advancing last week, reducing the appeal of commodities like oil that are priced in the currency. Chinese economic growth and industrial production data released Monday came in ahead of estimates, helping oil to pare losses slightly.Covid-19 continues to spread rapidly, complicating the global consumption recovery. The U.S. is on track to reach 400,000 deaths before President-elect Joe Biden’s inauguration on Wednesday, while the U.K. is closing its travel corridors with other countries as cases spike. Indian energy demand got off to a shaky start to the year, with sales of transport and cooking fuels dropping Crude still managed to eke out a small gain last week, helped by a rebalancing of commodity indexes and the promise of more U.S. stimulus spending. However, the rally that started in early November and has pushed oil to the highest in almost a year looks to be stalling amid a worsening short-term demand outlook.The dip in prices on Friday was a “breather” for a market that has rallied strongly, said Howie Lee, an economist at Oversea-Chinese Banking Corp. “Biden’s inauguration will be the focus of markets this week, particularly on how quickly he can roll out his fiscal stimulus plans.”Libya’s oil output, meanwhile, has dropped by about 200,000 barrels a day after the closure of a leaking pipeline. The decline underscores how difficult it is for the country to maintain production after almost a decade of civil war.See also: President Biden Won’t Unlock a Wave of Iranian Crude: Julian LeeThe worsening short-term outlook is being reflected in oil’s futures curve. Brent’s prompt timespread is 2 cents a barrel in contango -- a bearish structure where near-dated prices are cheaper than later-dated ones -- after being as much as 16 cents in backwardation earlier in the month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Bitcoin retreated further from the $40,000 level on Monday, a decline that could portend more losses based on the latest analysis from strategists at JPMorgan Chase & Co.The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon, a team including Nikolaos Panigirtzoglou said. The pattern of demand for Bitcoin futures and the $22.9 billion Grayscale Bitcoin Trust will help determine the outlook, they added.“The flow into the Grayscale Bitcoin Trust would likely need to sustain its $100 million per day pace over the coming days and weeks for such a breakout to occur,” the strategists wrote in a note on Friday.Traders seeking clues about investor appetite for risk have been gripped by Bitcoin’s stunning rally and turbulent 12% slide from a record of almost $42,000 on Jan. 8. The cryptocurrency boom since March embodies the ebullience in financial markets awash with stimulus to fight the impact of the pandemic -- as well as the concern that some of these gains may prove unsustainable.The JPMorgan strategists said Bitcoin was in a similar position in late November, except with $20,000 as the test. Flows of institutional investment into the Grayscale trust helped the world’s largest cryptocurrency extend its rally, they wrote.Trend-following traders “could propagate the past week’s correction” and “momentum signals will naturally decay from here up till the end of March” if Bitcoin’s price fails to break above $40,000, they said.Bitcoin dipped about 4% to $35,100 as of 1:14 p.m. in Tokyo on Monday. Ether, another popular digital coin, shed 5% to $1,200.Exactly what’s driven the yearlong near-quadrupling in Bitcoin’s price remains murky. Commentators have cited day traders, wealthy buyers, hedge funds, companies and even signs of interest from long-term investors like insurers.Bitcoin’s proponents argue it’s maturing as a hedge for dollar weakness and the possibility of faster inflation in a recovering global economy. Others say its defining characteristic remains speculative booms followed by busts.(Updates with latest price movements from the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Milan [Italy], January 18 (ANI): Juventus manager Andrea Pirlo has slammed players after suffering a defeat against Inter Milan and even went on to say that his side "couldn't have put in a worse performance than this".
Nobody has repeated as Super Bowl champion since the New England Patriots in 2003 and 2004. And those back-to-back titles weren't just down to talent and coaching.
Spurs’ record signing scored a fine goal in Sunday’s 3-1 victory at Sheffield United.
Guitarist Jon Schaffer, a founding member of the metal band Iced Earth, has been taken into custody in his home state of Indiana after making “wanted” lists as a result of his widely seen participation in pro-Trump forces’ siege of the U.S. Capitol. News outlets including the Indianapolis Star have reported that Schaffer turned himself […]
The Merseysiders’ goalless run was extended to three games on Sunday with a 0-0 draw against Manchester United.
Asian shares pared early losses on Monday as data confirmed China's economy had bounced back last quarter as factory output jumped, helping partially offset recent disappointing news on U.S. consumer spending. Industrial production for December also beat estimates, though retail sales missed the mark. "Despite the latest dip in retail sales, we see plenty of upside to consumption as households run down the excess savings they accumulated last year," said Julian Evans-Pritchard, senior China economist at Capital economics.
Fuller, who is a goalkeeper for Vanderbilt University women's soccer team, said it was an honour to be invited to one of "America's greatest traditions". "This historic inauguration is especially meaningful for American women and girls," she said on Twitter. As well as Biden, she tagged Kamala Harris -- who is the first female Vice President-elect -- in the tweet.
Family drama film “A Little Red Flower” continued its dominance of China’s box office in 2021 with a third weekend on top of the charts. The weekend was, however, a typically quiet one for January, worth an aggregate $47.1 million according to exhibition and distribution consultancy, Artisan Gateway. While the individual films’ scores are modest, […]
Jack Leach’s five-for has set the tourists up for victory in Galle, with Jonny Bairstow and Dan Lawrence still at the crease at stumps on day four
Vaccines opening up to five million more Britons is among the stories on Monday’s front pages.
Two bogies of Shaheed Express, on its way to Jainagar from Amritsar, derail near Lucknow.
The president has been stoking violence for years.
The reigning Super Bowl winners took an early lead but were pushed all the way by the resurgent Ohio side.
A powerful earthquake that struck Indonesia's Sulawesi island last week has killed at least 81 people and displaced more than 19,000, the country's disaster mitigation agency said, as search and rescue efforts continued on Monday. The 6.2-magnitude quake, part of a string of disasters to hit the Southeast Asian archipelago in recent weeks, struck West Sulawesi in the early hours of Friday morning, sending thousands fleeing from their beds. Disaster mitigation spokesman Raditya Jati said in a statement on Monday that 81 people were confirmed to have died, while more than 250 had been seriously injured.
Drew Brees might be retiring, and Tom Brady came back to the Superdome field to find him.
Super Retail Group returns $1.7m from jobkeeper amid calls for Harvey Norman to follow suit. Owner of Supercheap Auto and Rebel posts record profit and joins Toyota in volunteering to forego subsidies in move welcomed by treasurer
(Bloomberg) -- Tianqi Lithium Corp. halted a private share-sale plan after a Chinese exchange queried the deal.The company said Sunday it had terminated the plan, announced Friday, that would see it raise as much as 15.9 billion yuan ($2.5 billion) by issuing stock to controlling shareholder Chengdu Tianqi Industry Group Co. at 35.94 yuan per share -- about 40% below its last closing price. Tianqi said it scrapped the deal to avoid short-swing trading and protect the interests of smaller shareholders.The proposal for Chengdu Tianqi to buy shares comes the same month it said it would reduce its stake, along with other holders, by up to 4% over a six-month period starting Jan. 29. The company had also completed a 6% share-sale plan announced last year.Over the weekend, the Shenzhen exchange queried Friday’s announcement, asking whether Chengdu Tianqi’s subscription to the private-placement plan after earlier reducing its stake constitutes a short-term transaction and if it hurts the interests of small and medium shareholders.The bourse noted Tianqi Lithium’s share price had tripled over the past 60 trading days and asked the company whether any insider information had been leaked, as well as if the plan is feasible. The stock was 4% lower on Monday.Tianqi’s WoesWhile it wasn’t a surprise for Tianqi to conduct a private placement, the amount and timing were unexpected, Daiwa Capital Markets Hong Kong Ltd. analysts Dennis Ip and Leo Ho wrote in a report. The announcement runs a high chance of constituting short-swing trades despite not directly breaching listing rules, they wrote.“While we disagree with this view given Tianqi’s distinctive financial condition, we do understand that the regulatory body may have reservations on approving such a private placement given it could be a ‘bad precedent’ that encourages major shareholders of other listed companies to follow and ‘buy low, sell high’,” they said.Shares had surged in the latter part of last year on signs Tianqi’s financial pressures, which stem from a plunge in lithium prices following a highly leveraged acquisition of a stake at Soc. Quimica y Minera de Chile SA in 2018, were easing. SQM’s Chief Executive Officer Ricardo Ramos said in an interview released Sunday he has “no doubt” Tianqi will solve any problems they may have.Tianqi said in December its plans to sell a stake in the Greenbushes mine to Australia’s IGO Ltd., and followed up with an agreement with lenders to delay some loan repayments, including a $1.88 billion portion that was due last November.Cancellation of the share sale won’t impact the company’s business operation and development, Tianqi said in the statement on Sunday. It will evaluate and continue to carry out refinancing in the future, given its relatively high debt-to-asset ratio.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Guatemalan police and soldiers launched tear gas and wielded batons and shields against a group of Honduran migrants that tried to push through their roadblock early Sunday. A group of about 2,000 migrants had stopped short of the roadblock the night before. The roadblock was strategically placed at a chokepoint on the two-lane highway to Chiquimula in an area known as Vado Hondo. It’s flanked by a tall mountainside and a wall leaving the migrants with few options.Some 100 migrants tried to make their way through authorities around 7:30 a.m. Sunday. The security forces beat them back and deployed tear gas. None made it through and the larger remaining contingent kept its distance during the melee.Some migrants were visibly injured by baton strikes. One man, who did not give his name, leaned against a wall near police with a bandage atop his head.“They hit me in the head,” he said. “I didn’t come with the intention of looking for problems with anybody. We’re brothers, Central Americans. We’re not looking for trouble. We just want to pass.”Later, hundreds of migrants sat down on the roadway, refusing to leave and insisting they be allowed through, appealing to the soldiers as fellow Central Americans.Leila Rodriguez, of Guatemala’s human rights office, spoke to the migrants, acknowledging “this is a distressing moment we’re experiencing.”“We want to start a dialogue with you, to ask you to accept some of the needs of the Guatemalan people right now,” Rodriguez said, in apparent reference to President Alejandro Giammattei’s refusal to allow caravans through out of fear they could spread COVID-19.Some of the migrants wore face masks, others didn’t, but there was little social distancing among them. Few had the negative COVID-19 tests that Guatemala requires for people entering the country.Guatemala’s Health Ministry reported that 21 of the migrants sought medical attention at health centers and tested positive for the coronavirus. The department said the 12 men and and nine women would not be returned to Honduras until they undergo quarantine at centers in Guatemala.As the standoff stretched toward 24 hours, some migrants, like Ismael Eliazar of Choloma, Honduras, lay down in the grass beside the roadway. “We have only had water, even my stomach is grumbling,” Eliazar said.Referring to the damage wrought by two major hurricanes that hit his hometown near San Pedro Sula in November, Eliazar said “there is still mud everywhere there, everything got knocked down, we lost everything.”Guatemalan soldiers and police had blocked part of a caravan of as many as 9,000 Honduran migrants Saturday night at a point not far from where they entered the country, seeking to reach the U.S. border.The soldiers and riot police — about 450 in total — formed ranks across a highway.Guatemala’s immigration agency distributed a video showing a couple of hundred men scuffling with soldiers, pushing and running through their lines, even as troops held hundreds more back Saturday night.On Saturday, Giammattei issued a statement calling on Honduran authorities “to contain the mass exit of its inhabitants.” On Friday, the migrants entered Guatemala by pushing past about 2,000 police and soldiers posted at the border; most entered without showing the negative coronavirus test that Guatemala requires.“The government of Guatemala regrets this violation of national sovereignty and calls on the governments of Central America to take measures to avoid putting their inhabitants at risk amid the health emergency due to the pandemic,” Giammattei’s statement continued.Guatemala has set up almost a dozen control points on highways, and may start busing more migrants back to Honduras, as it has done before, arguing they pose a risk to themselves and others by traveling during the coronavirus pandemic.Governments throughout the region have made it clear they will not let the caravan through.Mexico mounted a dissuasive campaign at its southern border, circulating videos and photos of thousands of National Guardsmen and immigration agents preparing if the migrants manage to cross Guatemala.On Saturday, the Mexican Foreign Relations Department issued a statement praising Guatemala’s stance.“The Mexican government recognizes the outstanding work of the government of Guatemala, which has acted in a firm and responsible manner toward the contingent of migrants that violated its sovereignty,” according to the statement.The department said Mexico “rejects any unregulated and disorderly entry that puts at risk the lives and health of the migrant population or the host country.”Honduras has been ravaged by the COVID-19 pandemic and the hurricanes that hit the country in November leaving its most productive northern regions in tatters. Many of the migrants hope for a warmer reception from the incoming administration of President-elect Joe Biden who will be inaugurated Wednesday.So far, Biden’s team has indicated it will not make immediate changes to policies at the U.S.-Mexico border.(AP)