The share price declines that pushed these energy sector companies' yields higher don't appear justified, and their payouts look secure.
The list of Week 13 college football games to be postponed or canceled due to COVID-19 continues to grow.
Nivar is the second cyclone in the Bay of Bengal this year.
Good morning, everyone, and thank you for joining Ferroglobe's third-quarter 2020 conference call. Joining me today are Marco Levi, our chief executive officer; Gaurav Mehta, EVP of strategy and investor relations; and Jorge Lavin, group controller. Risk factors that could cause actual results to differ materially from these forward-looking statements can be found in Ferroglobe's most recent SEC filings and exhibits to those filings, which are available on our website, www.ferroglobe.com.
Chinese ride-sharing company Didi began rolling out a service in Mexico this week to let female drivers select only other women as their passengers, a move aimed at encouraging their safety as the country confronts worsening gender violence. Called "Didi Mujer," or Didi Woman, the program is being piloted in Mexico City, Guadalajara, Monterrey and Tijuana, and Didi hopes if more women join the platform, passengers eventually will be able to exclusively choose female drivers. Didi's rival, Uber Technologies Inc, earlier this month also launched an option for female drivers in Mexico to select only women passengers, in line with a similar Uber program in Saudi Arabia.
The Laundry Care Products Market will grow by USD 26.91 bn during 2020-2024
If your love language is gift giving but spending money is not, then chances are you try to knock out the bulk of your holiday shopping during Black Friday and Cyber Monday. Plenty of major retailers offer big sales throughout the week of Thanksgiving (and some for the entire month), but very few compare to the shopping extravaganza that Nordstrom puts on. The Nordstrom Black Friday Sale gives you the best of both worlds: luxury beauty and good deals. Brands like Smashbox, Esteé Lauder, MAC Cosmetics, and Tom Ford Beauty all get marked down, giving you access to much more affordable options. Just imagine the look on your friend's face when they think you got them a $40 YSL Beauty lipstick when really you only spent a little over $20. We have no doubt you'll find something for everyone on your list - including yourself. Now through Tuesday, Dec. 1, you can get up to 50 percent off skin-care, hair-care, fragrance, and makeup products. Considering there are 13 pages of deals to sort through, we took it upon ourselves to round up the best products to shop while they're on sale, ahead.
Deliveries of holiday gifts purchased online at major retailers could get delayed by something far more critical - COVID-19 vaccines. Pharmaceutical companies including Pfizer and Moderna as early as mid-December could begin sending inoculations to U.S. healthcare workers and nursing home residents. FedEx and United Parcel Service could make space for those shipments on cargo planes by bumping off packages from Amazon.com, Walmart, Target and other retailers.
Van de Beek, signed from Ajax Amsterdam for a reported 35 million pounds ($46 million) in September, was deployed at the base of the United midfield behind Bruno Fernandes instead of further forward in the number 10 slot. Despite the positional switch the 23-year-old looked comfortable throughout the 90 minutes as United secured victory to keep them on track to progress to the knockout stage.
A Florida man filmed his family’s unusual method of defrosting Thanksgiving turkeys on November 24 as Americans prepare for the holiday.This footage, shot by Mark O’Donnell, shows his uncle, Chuck, perform the so-called “Turkey Toss Tradition”, which this year involved hurling a 16-pound (7.3kg) frozen bird named “Donald” into O’Donnell’s backyard pool.“So, yes folks, we thaw our turkey in the pool,” he says in the video. “That’s how you do it when you live in Florida and tomorrow morning we’ll take that out.” Credit: Mark O’Donnell via Storyful
The company also forecast fourth-quarter sales to be flat or slightly higher than last year, and warned of pressure on margins from elevated shipping costs, including air freight, as retailers rush to move merchandise ahead of the holiday season. Online sales surged 61% in the third quarter as stuck-at-home customers shopped for comfortable joggers, yoga pants and tops from its Old Navy and Athleta brands, helping Gap report a surprise rise in comparable sales.
As luxury spending rebounds in China, consumers with money to burn have a new habit beyond fancy bags and watches: a taste for collector editions of fiery domestic liquor Moutai, not to drink but to hold onto as a rapidly appreciating investment. Amid China's recovery from the coronavirus pandemic, Moutai buyers like Beijing tech worker Yang Nan have seen re-sale prices for vintage and limited editions of the 'baijiu' spirit made by Kweichow Moutai rocket as demand booms. "I feel more people are getting into the market of Moutai collection and making it more difficult for people like me to afford it," Yang told Reuters.
Biden will be the first person to read the President's Daily Brief in months — a stark example of how Trump viewed his presidential duties.
The easing of coronavirus restrictions for Christmas leads the nation’s papers.
On Tuesday night, The Bachelorette delivered a genuine twist: The long-running, traditionally ultra-white ABC show got candid about race. During an alternately sweet and intense one-on-one date, Bachelorette Tayshia Adams and contestant Ivan Hall discussed police brutality, the white homogeneity of Orange County, and the Black Lives Matter protests that have emerged since the police killing of George Floyd. Given the show’s traditional devotion to staying as apolitical as possible, Tuesday’s raw conversation was a striking departure—and a welcome one at that.Ivan wrote and performed a charming serenade to win his alone time with Tayshia—bringing her onto the stage as a winning personal touch. Thanks to COVID, this season’s romantic outings are a bit limited—so the couple shared an intimate night in Tayshia’s suite, playing Floor is Lava and ordering a huge bowl of ice cream. (No, seriously. BIG!)> it's the truck-sized sundae for me theBachelorette pic.twitter.com/ZYzwNmPTSK> > — Laura Bradley (@lpbradley) November 25, 2020Honestly? I’d take this over a helicopter any day.But soon enough, things got serious: As the two discussed their families, Ivan mentioned his younger brother, who spent four years in prison after dealing with substance abuse. “My brother went through some really dark times in prison,” Ivan said. “I was the only person he would really open up to about the stuff that goes on behind there. It’s crazy stuff.”George Floyd’s death, Ivan said, “really hit home for me. You can only imagine how much wilder it could be in prison, right? And my brother used to tell me stories of how these C.O.’s literally beat him up.”“I felt so bad,” Ivan continued, “because my first question was like, ‘Well, Gabe, what did you do?’ But it doesn’t matter. Like, no matter what George Floyd did either way, or what my brother did, these people have a job to do, and they need to do it right. They can’t just be hurting people for no reason, you know? So it made me check myself.”EMBED PICWhen Ivan asked Tayshia how the events of this year have affected her personally, she grew quiet and tearful. “I don’t know,” the Bachelorette said. “Just the way that the world is right now, it’s just a lot. And it’s just overwhelming, and sometimes I feel like it affects me more than—”“—you even know sometimes,” Ivan said, finishing her sentence.After some encouragement from her date, Tayshia was able to share a little more of what’s been on her mind—specifically her upbringing in Orange County, where she was “surrounded by a lot of people that don’t look like me.”“Being the only person that looks like me, I’m realizing that I’ve been trying so hard my whole life to blend in,” Tayshia said. “Because I knew I was different, you know?”Hearing people chanting “Black Lives Matter,” Tayshia said, has hit her harder than she’d initially expected or realized. “Those are people in my backyard that I’ve been trying to prove for so long that I’m the same as them,” she said. Ivan told her that during his college years, he’d grown used to being called the “N-word” randomly as he was walking next to his campus.“I never thought in my lifetime that so many people would come together for one common cause,” Tayshia said of Black Lives Matter. “It was so beautiful.”Adams, this season’s second star after Clare Crawley’s abrupt exit, is the Bachelor franchise’s second Black Bachelorette. Rachel Lindsay became the first in 2017—although it’s worth noting that the show’s attempts to address race were ham-fisted at best and exploitative at worst. Next year Matt James will become the franchise’s first Black Bachelor. Hopefully as the franchise grows more diverse, it will continue to make room for these important conversations. Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
(Bloomberg) -- Some of the world’s biggest investors say it’s time to position portfolios for an end to the pandemic. That doesn’t mean they agree on how best to do it.One of JP Morgan Asset Management Inc.’s recommendations is to buy beaten-down shares of travel companies, airlines and hotels. Fidelity International Ltd.’s multi-asset team is increasing holdings in regions such as Europe that are badly hit by the virus, betting they’ll get better. Franklin Templeton contends it’s still too early to move away from places like Asia that have better handled the crisis.Even as all three firms look beyond surging cases and renewed lockdowns to the prospect of a vaccinated population achieving herd immunity sometime over the next two years, their at times divergent views on how to invest underscore the high stakes for money managers during what could be a pivotal moment for markets. Progress on Covid-19 vaccines this month has already triggered wild shifts in relative performance among industries, countries and stock-market investment styles.“Equity-sector rotation could dominate investor discussion in coming months,” said Tai Hui, the chief Asia market strategist at JP Morgan Asset Management. “We think investors can look to diversify their allocations to take advantage of potential good news on vaccine development.”Vaccinations in the U.S. will “hopefully” start in less than three weeks, Moncef Slaoui, the head of the federal government’s program to accelerate a vaccine, said on CNN on Nov. 22. That came after Pfizer Inc. and its partner BioNTech SE, and Moderna Inc., said their virus shots are 95% effective. A vaccine developed by the University of Oxford and AstraZeneca Plc prevented a majority of people from getting the disease.Vaccine Breakthroughs Put Covid Protection Within ReachAn index of global stocks has risen more than 4% since Nov. 9, the day Pfizer first indicated that its vaccine was more than 90% effective. The equity rally is extending even as investors consider hurdles such as ultra-low temperature storage and distribution for some vaccines. U.S. stocks hit fresh peaks on Tuesday, with the Dow Jones Industrial Average climbing above 30,000 for the first time. Global shares are poised for the best month ever while Asian equities are on track for best gains since 2009 this month. For Salman Ahmed, the London-based head of macro and strategic asset allocation at Fidelity International, it’s time to become positive on Europe. The firm’s multi-asset team has turned bullish on the region and that’s a “major shift,” he said. Asia, according to Ahmed, has maximized the market benefits it can get from containing the virus.“Countries which are under a lot of pressure because of the virus stand to gain the most from a credible vaccine,” he said. “And Europe comes under that category because the virus has been pretty bad.”The shift is already afoot. A measure of European equities is up more than 7% since Nov. 9.But not everyone is buying into such a rotation. For Stephen Dover, the head of equities at Franklin Templeton, there are still months at a minimum before any vaccine can be widely implemented, and that means Asian stocks are still the place to be.Vaccine Endgame“Asia may benefit by being able to fully function economically while the West waits for full vaccinations,” he said in an interview earlier this month.Money managers also differ on when the vaccines will lead to a return to normal economies. For Dover, for example, that’s most likely to happen in the second half of 2021. But Ross Cameron of Australian money manager Northcape Capital in Tokyo assesses that more than half the world’s population still won’t be vaccinated by the end of 2023.“Our sense is markets are way too optimistic on the speed of a global vaccine rollout,” Cameron said. “It will take a lot of time and dollars.”Cameron said glove makers -- which he’s been investing in for more than a decade -- are likely to be a big beneficiary of the virus shots.“Administering the vaccine will itself result in a spike in glove demand to protect the health professionals involved,” he said. “Glove demand is likely to remain elevated for at least the next two years.”Malaysia’s Top Glove Corp., the world’s biggest rubber-glove producer, has already more than quadrupled this year, despite slumping Tuesday after its workers caught the virus, forcing authorities to temporarily shutter 28 of its factories.India, IndonesiaVaccines working successfully will also benefit stock markets in India and Indonesia, according to Fidelity’s Ahmed. India has the world’s second-highest virus caseload while Indonesia has recorded the most infections in Southeast Asia. While India’s benchmark equity gauge has posted a gain in 2020, the Jakarta Composite Index has lost more than 9%.Evan McCulloch, director of equity research for Franklin Equity Group and the lead portfolio manager of the Franklin Biotechnology Discovery Fund, sums up how the fund managers, despite differences in their strategies, are generally looking beyond new waves of the virus and the return to lockdowns in many countries.“We are long-term investors,” he said. We “are looking through the rising case numbers and continued economic weakness towards a reopening of the economy enabled by the vaccine.”(Updates market performance in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Daniel Ríos scored in the 108th minute and Nashville beat the defending Eastern Conference champion Toronto FC 1-0 on Tuesday night, becoming the first expansion team to win two MLS Cup playoff games. Ríos followed Hany Mukhtar’s shot that Toronto goalkeeper Quentin Westberg got a hand on, and tapped it into the back of the net.
Toward the end of a dramatic day that saw The Weeknd, whose music has dominated 2020, shut out of all Grammy nominations, leading him to accuse the Recording Academy of corruption and a lack of transparency, Recording Academy chief Harvey Mason, jr. has responded to his claims. In his response, he says that he too […]
Tonight’s "A Very Special G4 Holiday Reunion Special," broadcast on YouTube Live delivered big laughs, brought viewers back through many of the network’s most memorable moments, and introduced G4’s very first on-air talent announcement of WWE Superstar Xavier Woods. The special also kicked off Gravython, G4’s multiday charity drive, raising funds for a variety of community partners.
(Bloomberg) -- Xiaomi Corp. fell as much as 4.2% Wednesday after disclosing internet services revenue grew at its slowest pace in three years, prodding investors to cash in gains from the Chinese smartphone maker’s 2020 rally.China’s No. 2 smartphone maker reported overall revenue rose 34.5% to 72.2 billion yuan ($11 billion) in the September quarter, its fastest pace of growth in two years. It grabbed market share from Huawei Technologies Co. when American sanctions deepened particularly in overseas markets from Europe to India, which yielded more than half of its revenue for the first time. But internet services like music and video grew just 8.7%, down from the previous quarter’s 29% as the Covid-19 boom in Chinese online activity tapered off.Several brokerages cut their price targets on Xiaomi, citing its 140% run-up since the start of 2020 and warning that investors may be underestimating Huawei’s ability to remain a formidable competitor. Xiaomi’s share gains are partly based on the argument it’s one of the biggest beneficiaries of the Trump administration’s campaign to rein in Huawei and contain China’s technological ascendancy. Its unit shipments surged 42% in the third quarter globally, researcher IDC estimated, by far the best performance among brands from Samsung Electronics Co. to Apple Inc. Huawei’s own volumes plummeted 22% over that period, and it now has to defend its No. 2 position against the likes of Vivo.What Bloomberg Intelligence SaysXiaomi’s 51% sequential smartphone sales jump in 3Q may temporarily alleviate concerns of its slowing internet services revenue growth. The Chinese vendor gained the most domestic market share at the expense of Huawei in 3Q, according to IDC.\- Anthea Lai, analystClick here for the research.Xiaomi reported a rise in adjusted net income to 4.1 billion yuan from a year earlier, beating projections for 3.3 billion yuan. Executives warned that component shortages may continue to plague Xiaomi and its peers, as factories worldwide continue to grapple with Covid-era production disruption while demand for parts like memory and processors remains strong.“While we are still confident about the fourth quarter, the supply shortage issues will stay for us and for other vendors as well,” President Wang Xiang told reporters. “We will see a fairly big challenge in fourth quarter and the challenge could persist to next year.”Xiaomi remains one of the few major Chinese tech companies to enjoy strong growth abroad -- and in developed markets, to boot -- at a time governments from the U.S. to India are erecting barriers to the country’s businesses. Overseas revenue from Xiaomi’s smaller Internet of Things division, which sells gadgets like like smart cookers and robot vacuums, rose 56.2% in the third quarter. In India, it’s managed to cling to the top spot despite a deep, nationwide Covid-19 lockdown and bans on several of its apps.At home, it’s benefiting from rapid Chinese adoption of 5G-enabled smartphones as the network rollout gains pace.Read more: Huawei Sells Budget Phone Brand After U.S. Cuts Chip SupplyHuawei this month struck a deal to sell its budget brand Honor to a Chinese government-backed consortium, which may heighten competition in the smartphone arena. But the threat from Huawei itself is likely to diminish until it can somehow get around a ban on American software and circuitry, such as by building its own Android-based operating system of apps.In the short run, Xiaomi could gain as many as 15 million units in additional smartphone shipments thanks to Honor’s exit, Citigroup analyst Andre Lin wrote in a memo ahead of the earnings. “But if Honor remained a major competitor, Xiaomi’s 2021 consensus forecasts would face downside revisions of 5%-10% in shipments,” Lin said.Citing national security concerns, the U.S. has waged a far-ranging campaign against Huawei since 2018 that landed its chief financial officer under house arrest in Canada and fomented bans against the use of the company’s 5G equipment in countries from the U.K. to Japan. The final blow came when the White House enacted sweeping restrictions against suppliers this year, closing off loopholes that let Huawei procure ready-made semiconductors to keep its consumer business afloat.Read more: Huawei’s Latest Phone Marks End of Era As U.S. Spurs RethinkFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
International pressure mounted Tuesday on Ethiopia's warring parties to cease fighting and protect civilians in Tigray, where the army says it has encircled the capital ahead of a threatened bombardment. Forces loyal to Tigray's ruling party have been battling Ethiopian soldiers in the northern region for nearly three weeks, sparking a refugee exodus, civilian atrocities and fears of broader instability in the Horn of Africa.Prime Minister Abiy Ahmed, last year's Nobel Peace Prize winner, on Sunday gave the Tigray People's Liberation Front (TPLF) 72 hours to surrender -- an ultimatum rejected by the leader of the dissident region, who has said his people are "ready to die" for their homeland.As the deadline looms, the UN Security Council held its first meeting on the crisis, despite disagreement between European and African members over whether the closed-door discussion should take place.Ethiopia's army says tanks are within 60 kilometres (37 miles) of the regional capital Mekele, where it has promised a "no mercy" assault on TPLF forces."The highly aggressive rhetoric on both sides regarding the fight for Mekele is dangerously provocative and risks placing already vulnerable and frightened civilians in grave danger," said UN human rights chief Michelle Bachelet.Amnesty International urged Ethiopia against using artillery and aerial bombings in Mekele, appealing for both sides to consider the city's half a million inhabitants and the many more seeking refuge there from fighting elsewhere."Deliberately attacking civilians and civilian objects is prohibited under international humanitarian law, and constitutes war crimes," said Deprose Muchena, head of Amnesty International's east and southern Africa office.The government said Tuesday that "a large number of Tigray militia and special forces" had surrendered after Abiy's 72-hour ultimatum. The TPLF, for its part, said on Monday it had routed an army battalion and claimed responsibility for a rocket attack on Bahir Dar -- the capital of Amhara region to the south of Tigray -- where local forces are fighting alongside Ethiopian troops.Tigray remains under a communications blackout and media access to the region has been restricted, making independent verification of claims from both sides difficult.'End this conflict' Abiy has resisted growing calls for mediation since ordering troops, tanks and warplanes into Tigray on November 4 in response to what he said were attacks on federal military camps orchestrated by the TPLF.The African Union (AU), headquartered in the Ethiopian capital Addis Ababa, has dispatched three former African presidents as special envoys to try and broker talks on the Tigray crisis.A spokesman for an Ethiopian committee handling the conflict said Monday the government would meet the envoys "as a matter of respect" but flatly ruled out negotiations with the TPLF.Tuesday's virtual meeting of the UN Security Council to discuss the crisis was briefly in doubt after African countries pulled out.But diplomats from France, Britain, Belgium, Germany and Estonia ultimately forced the talks to go ahead, backed by the United States."At a certain moment, we have to put it on the agenda, even if the Africans don't like it," a European diplomat told AFP on condition of anonymity, highlighting the growing impatience over the lack of Security Council action on the weeks-long fighting.The US National Security Council on Monday called for mediation and extended its support to the AU diplomatic effort "to end this tragic conflict now".'Rampage' The fighting has already driven more than 40,000 people into Sudan and forced many more to flee within Tigray. Hundreds have reportedly been killed, though the true extent of death and displacement is not known.The Ethiopian Human Rights Commission, a government-affiliated but independent body, said Tuesday that at least 600 people had been slaughtered in a "rampage" in the town of Mai-Kadra on November 9.A local Tigrayan youth group aided by police and militia "killed hundreds of people, beating them with batons/sticks, stabbing them with knives, machetes and hatchets and strangling them with ropes," the commission said in a report.Tigrayan refugees from Mai-Kadra, who have fled to Sudan, have blamed government forces for the killings. Long-running tensions between Addis Ababa and the TPLF boiled over in September when Tigray proceeded with regional elections in defiance of the federal government, which declared the vote illegal.(AFP)