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Week ahead:

Biden inauguration, UK public finances and retail sales, ECB rate meeting

The spotlight will be on the inauguration of Joe Biden who will be sworn in as 46th president of the US

The Key Metric Nutanix Investors Should Watch

Herve Blandin, The Motley Fool
·4-min read
The Key Metric Nutanix Investors Should Watch

The company's transition to a subscription-based business is blurring traditional accounting metrics.

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    There are many ‘rags to riches’ stories in the world, and each one is inspiring. Ramesh Gholap’s story, however, is not only inspiring but also a testimony to the art of manifestation.

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    Man found living in Chicago airport for three months 'due to fear of Covid'Aditya Singh allegedly stayed in secure area of O’Hare international airport after becoming too afraid to return home to California * Coronavirus – latest updates * See all our coronavirus coverage

  • Leading Putin critic Alexei Navalny arrested upon return to Russia after poisoning

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  • What you need to know about the coronavirus right now

    England will launch the next phase of its vaccination programme on Monday, offering doses to people aged 70 and above, as well as those seen as extremely vulnerable clinically. Europe's biggest vaccination programme so far had focused on people aged 80 and older as well as frontline healthcare workers. The government wanted all adults to have been offered a first vaccination by September, health minister Matt Hancock said.

  • Unlikely Farm Friends: Chicken Rides on Horse's Back in Cranbrook, Tasmania

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  • Mowi ASA (OSE:MOWI): Q4 2020 Trading update

    Harvest volumes Q4 2020 (1) Farming Norway78.5 thousand tonnesFarming Scotland13.0 thousand tonnesFarming Canada12.5 thousand tonnesFarming Chile20.5 thousand tonnesFarming Ireland1.0 thousand tonnesFarming Faroes1.5 thousand tonnesTotal127.0 thousand tonnes In connection with the presentation of the Q3 2020 results, Mowi ASA guided a total harvest volume of 128.9 thousand tonnes (GWE) for Q4 2020. Note: (1) The harvest volumes are provided in gutted weight equivalents (GWE). The figures include salmonid species only. Additional information Operational EBIT for the Group was approximately EUR 49 million in Q4 2020 (EUR 166 million in Q4 2019). Blended Farming cost per kg harvested was EUR 4.28, a reduction from EUR 4.40 in Q4 2019. Blended Farming cost for the third quarter 2020 was EUR 4.23 per kg. Total Operational EBIT per kg through the value chain was approximately as follows: NorwayEUR 0.75ScotlandEUR 1.55CanadaEUR -1.10ChileEUR -0.50IrelandEUR 2.60FaroesEUR -0.75 Operational EBIT in Consumer Products was EUR 35 million and Feed EUR 14 million in Q4 2020. Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 460 million at the end of the quarter (excluding IFRS 16 effects). The complete Q4 2020 report will be released on 17 February at 06:30 CET. Please refer to the Annual Report for detailed descriptions and reconciliations of non-IFRS measures such as Operational EBIT and NIBD. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

  • We deserved the victory: Flick 'satisfied' with Bayern's performance after win over Freiburg

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  • Exclusive: Southeast Asia's Grab considering U.S. IPO this year - sources

    Southeast Asian ride-hailing and food delivery giant Grab is exploring a listing in the United States this year, encouraged by robust investor appetite for IPOs, three sources familiar with the matter told Reuters. The IPO could raise at least $2 billion, one of the sources said, which would likely make it the largest overseas share offering by a Southeast Asian company. Singapore-based Grab declined comment on the potential IPO.

  • Gold Holds Decline on Dollar Strength as Stimulus Faces Debate

    (Bloomberg) -- Gold held a decline on a stronger dollar and the currency’s outlook, while investors assessed the timeline for the U.S. stimulus package.Former Federal Reserve Chair Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she will make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, according to a report from the Wall Street Journal, citing people familiar with the preparation. A gauge of the greenback has climbed in the past two weeks.Yellen’s confirmation hearing as Treasury Secretary is scheduled for Jan. 19 in front of the Senate Finance Committee, the day before President-elect Joe Biden is sworn into office.Bullion has dropped almost 4% this year as U.S. Treasury yields and the dollar advanced. Still, the metal is staying above $1,800 an ounce and is expected to receive support from massive stimulus packages from central banks and governments. Biden is pushing for quick congressional action on his economic relief plan, but he risks slowing it down with a federal minimum-wage increase that Republicans and business groups have long fought.“A stronger U.S. dollar is proving to be a headwind for precious metals prices despite the massive trillion dollar stimulus proposals to alleviate the ill effects of Covid-19,” said Avtar Sandu, a senior manager for commodities at Phillip Futures Pte.Spot gold was little changed at $1,828.22 an ounce by 12:43 p.m. in Singapore after earlier falling as much as 1.3%. Prices ended last week 1.1% lower. Silver and platinum rose, while palladium was steady.Meanwhile, as the U.S. death toll from Covid-19 neared 400,000, Anthony Fauci, the nation’s top infectious disease expert, said that Biden’s promise of delivering 100 million vaccine doses in 100 days is “absolutely a doable thing.” Vaccinations in the U.S. began Dec. 14 with health-care workers, and so far 13.7 million shots have been given, according to a state-by-state tally by Bloomberg News and data from the Centers for Disease Control and Prevention.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.

  • 10 ways to know if you are in a toxic relationship

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  • Trump admin limits supplies to Huawei: sources

    In the last days of his administration, U.S. President Donald Trump took what may be his parting shot at China's Huawei. Reuters sources say Trump has pulled licenses from companies including Intel that let them sell to Huawei, another push to weaken a company the U.S. considers a threat to national security. The notices came amid a flurry of U.S. actions against Beijing just days before President-elect Joe Biden takes office on Wednesday. A source familiar with the decision said eight licenses were taken from four companies and that the Department of Commerce intends to reject dozens of applications for new ones. When asked, Commerce said it would not comment on specifics but did say their policies protect 'U.S. national security and foreign policy interests.' Huawei has been in Washington's crosshairs for years, saying the company's equipment could be used for state spying. Back in May 2019, The Trump administration attempted to restrict suppliers from selling U.S. goods and technology to Huawei, but some sales were still allowed- with a license. Restrictions have ratcheted up since, mostly targeting products that can make use of 5G technology. Huawei's chief finance officer, Meng Wanzhou, has also been detained in Canada since 2018 on a U.S. warrant. Wanzhou is accused of violating U.S. sanctions against Iran and conspiring to steal trade secrets from American technology companies.

  • England claims seven-wicket win in Sri Lanka

    The fourth-wicket pair calmly collected the remaining runs.

  • Escaping coronavirus lockdowns, tourists flock to Dubai

    As much of the world tightens lockdowns to stem coronavirus, Dubai has flung its doors open, branding itself as a sunny, quarantine-free escape -- despite a sharp rise in cases. While mask-wearing and social distancing are strictly enforced, life in the tourism-reliant emirate looks much like normal, with its restaurants, hotels and mega-malls open for business.Daily detected cases hover in the mid-3,000s across the United Arab Emirates, which has a population of under 10 million, with 745 deaths from Covid-19 since the pandemic began.

  • FBI vetting Guard troops in DC amid fears of insider attack

    U.S. defense officials say they are worried about an insider attack or other threat from service members involved in securing President-elect Joe Biden’s inauguration, prompting the FBI to vet all of the 25,000 National Guard troops coming into Washington for the event. The massive undertaking reflects the extraordinary security concerns that have gripped Washington following the deadly Jan. 6 insurrection at the U.S. Capitol by pro-Trump rioters. Army Secretary Ryan McCarthy told The Associated Press on Sunday that officials are conscious of the potential threat, and he warned commanders to be on the lookout for any problems within their ranks as the inauguration approaches.

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  • HDFC Bank Shares Jump After Profit Tops Estimates on Loan Growth

    (Bloomberg) -- HDFC Bank Ltd., India’s largest private lender by assets, posted third-quarter profit that beat analyst expectations after earnings were buoyed by strong loan growth. Shares jumped.Net income was 87.6 billion rupees ($1.2 billion) in the three months through December compared with 74.2 billion rupees a year earlier, exchange filings on Saturday showed. That beat the average estimate of 76.4 billion rupees from 18 analysts, according to data compiled by Bloomberg.India’s most valuable bank by market capitalization is the first lender to report third-quarter results. While banks largely withstood the coronavirus pandemic’s economic fallout due to a revival in consumer spending, a six-month moratorium and a loan restructuring program has masked some of the soured debt.Shares in HDFC Bank surged as much as 2.3% in Mumbai on Monday to a record 1,500 rupees, while the S&P BSE Bankex Index fell.HDFC Bank’s 18% profit growth may be “among the strongest performance reported by the larger Indian banks in fiscal 3Q ended December,” said Diksha Gera, an analyst at Bloomberg Intelligence, adding that “peers Axis, ICICI and Yes Bank are likely to lag.”The gross bad loan ratio at the bank led by Chief Executive Officer Sashidhar Jagdishan narrowed to 0.8% at the end of December from 1.08% three months earlier. The ratio would have been 1.38% without the relaxation of rules regarding the recognition for bad debt, the bank said in the filing.To read about the boost to banks’ consumer loan bookHDFC Bank’s loan book grew by an annual 16% in the October to December period, outpacing the sector’s average growth of 6%. Last year, the bank was ordered to curb some digital and credit card operations following a series of technical glitches, a rare step by the financial regulator as online transactions surge in the nation.In 2020, “there were worries on unsecured loans, growth, management transition and tech-related issues during the later part of the year,” said Suresh Ganapathy, an analyst at Macquarie Capital Securities (India) Pvt. “Despite all the challenges, HDFC Bank has done well.”(Updates with analyst comments and share reaction.)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.

  • A Top Fund Manager Is Turning Bullish on Riskier Indian Debt

    (Bloomberg) -- One of India’s top fund managers is turning bullish on higher-yielding rupee corporate bonds based on the view that the nation’s recovery will outpace the consensus estimate of economists.Maneesh Dangi, who oversees $25 billion of debt assets at Aditya Birla Sun Life AMC Ltd., expects India’s economy to expand by 13% in the fiscal year starting April, compared with a median forecast of 9% by economists surveyed by Bloomberg. Dangi bases his outlook in part on optimism about the jobless rate falling after lockdowns were eased as well as policy steps helping minimize insolvencies.Aditya Birla Sun Life Corporate Bond Fund is the third-best performer among India’s mutual funds focused on the company note category in the past year with an 11.4% return on its regular investment plan, according to data from the Association of Mutual Funds in India.“We will start dialing up AA risk,” said Dangi, 44, referring to corporate bonds with credit ratings in the AA category. “Quality AA rated papers where yields have not compressed to pre-Covid levels are offering attractive returns.”That approach must contend with numerous risks. While the government has said economic indicators suggest a broad-based recovery ahead, it forecasts the worst contraction since 1952 for the current fiscal year. Recent Covid-19 resurgence in countries that, like India, had success after strict earlier lockdowns is also a reminder of how unpredictable the crisis can be. And the nation is still home to one of the world’s largest outbreaks globally.Dangi said the “biggest risk” to his strategy would be any premature withdrawal of support measures to counter the pandemic, and he stressed that officials face a delicate task in communicating with debt markets.Last week brought a stark warning on that account. Yield premiums on rupee corporate bonds jumped after falling to record lows in 2020, following an announcement by the central bank that it would drain cash from the market in an effort to normalize liquidity operations.Dangi had been reducing holdings of all but the safest corporate bonds in recent years until of late. He had done so because of a credit crisis triggered by the failure of a large shadow bank in 2018 that stung local markets even before the pandemic.Read about RBI assuring bond investors over its easy monetary stanceNow, though, he is keen on buying debt from firms that are likely to get upgraded to AA in the near future. He has also shortlisted a few non-AAA rated borrowers from sectors including commodities, chemicals and automobile components, which could benefit from any sharp economic recovery.(Adds chart showing rising yields for corporate rupee notes)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.

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