Banks have lent over £38bn to small businesses under the UK government's Bounce Back Loan scheme. The programme is meant to support firms through the COVID-19 crisis. Here's everything you need to know about the scheme and how it works.
Banks have lent over £38bn to small businesses under the UK government's Bounce Back Loan scheme. The programme is meant to support firms through the COVID-19 crisis. Here's everything you need to know about the scheme and how it works.
A Taiwanese F-5E fighter jet crashed during a training mission Thursday morning, killing the pilot, the Defense Ministry said. The ministry said the plane crashed into the Pacific Ocean off the eastern county of Taitung less than two minutes after taking off from Chihhang Air Force Base. The pilot, Capt. Chu Kuan-meng, ejected into the ocean but was declared dead about one hour later after being transported to a hospital on shore.
French President Emmanuel Macron and German Chancellor Angela Merkel ordered their countries back into lockdown, as a massive second wave of coronavirus infections threatened to overwhelm Europe before the winter. World stock markets went into a dive in response to the news that Europe's biggest economies were imposing nationwide restrictions almost as severe as the ones that drove the global economy this year into its deepest recession in generations. "The virus is circulating at a speed that not even the most pessimistic forecasts had anticipated," Macron said in a televised address.
US security authorities warned Wednesday of an "imminent cybercrime threat" to hospitals and healthcare providers, urging them to increase their protection.
Oslo, Norway – October 29, 2020: REC Silicon ASA (REC Silicon) reported third quarter 2020 revenues of USD 30.3 million versus USD 31.0 million in second quarter of 2020 and EBITDA of USD 17.9 million versus USD 2.9 million in the prior quarter. Third quarter EBITDA included a noncash adjustment of USD 16.0 million due to settlement of the property tax dispute announced on October 14, 2020. REC Silicon reported a cash balance of USD 35.9 million on September 30, 2020 which is USD 4.3 million higher than June 30, 2020. Silicon gas sales volumes for the third quarter were 746 MT compared to 831 MT during the prior quarter. Average silane gas prices increased by 3.4% compared to the second quarter of 2020. Polysilicon sales volumes for the quarter were 401 MT and polysilicon inventories decreased by 163 MT. Contingent liabilities faced by the Company have been reduced by USD 44.9 million during the third quarter due to the discontinuance of the tax examination by Norwegian Central Tax Office (USD 27.3 million tax and interest) and the settlement of the property dispute regarding property valuations from 2012 through 2015 with Grant County, Washington (USD 17.6 million net decrease in liabilities). Subsequent to the end of the quarter, REC Silicon entered into business cooperation agreements to partner with Violet Power to develop a non-Chinese Solar PV value chain and to partner with Group 14 Technologies to develop a silicon anode battery materials production facility in Moses Lake. On October 14, 2020, the REC Silicon raised approximately NOK 1 billion in gross proceeds through the Private Placement of 92,592,592 new shares, at a price per share of NOK 10.80. The net proceeds from the Private Placement will be used to fund expansion investments and activities at the Company’s facilities in Butte and Moses Lake as well as for general corporate purposes. Upon completion of the Private Placement, REC Silicon will have increased its liquidity and may enable the Company to prepare for the eventual restart of the Moses Lake plant. “Once again, the Company has reported consistent financial results for the third quarter. Butte operations continue to display resilience despite challenges caused by Covid-19. I am pleased that the path to restart production at the Moses Lake plant has become clearer with the announcement of agreements signed with Violet Power and Group 14 Technologies. The successful private placement of equity completed on October 14, 2020 has provided the Company with financial security and flexibility and I am confident that we will be able to capitalize on these opportunities,” said Tore Torvund, CEO of REC Silicon. For more information, please see the attached third quarter 2020 report and presentation. The company will host conference call to present the results at 8:00am CET. Following the presentation, it will be opened for questions from the audience. The presentation will be in English. To join the videoconference, use the following link.https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20201029_4 Audiocast participants need to register to post questions. REC Silicon will also host a conference call later the same day at 3:00 p.m. (CET). To join the event via audiocast, use one of the following access numbers. Please make sure to dial in 5-10 minutes prior to the scheduled start time. Norway: +47 2100 2610Sweden: +46 8 5664 2753United Kingdom: +44 330 336 9125United States: +1 646 828 8193 Participant code for all countries: 7507290 For further information, please contact:James A. May II, Chief Financial OfficerPhone: +1 509 989 1023Email: email@example.com Nils O. KjerstadIR ContactPhone: +47 9135 6659 Email: firstname.lastname@example.org About REC SiliconREC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Lysaker, Norway. For more information, go to: www.recsilicon.com This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Attachments REC Silicon Q3 2020 Report REC Silicon Q3 2020 Presentation
ATO warns businesses not to use loopholes to exploit $30bn Covid tax concessions. The tax office’s second commissioner told companies concessions should be used to invest not to buy assets ‘not actually used in your business’
Man arrested after showering commuters with money from 30th-floor window. Police in Chongqing, south-western China, detain man on drugs charges after his benevolence caused traffic chaos
Police clashed with protesters in Washington DC on October 28 as demonstrations continued over the death of a black man during a police chase.The man identified in local media as Karon Hylton reportedly crashed while riding a moped. Media reported he was being pursued by DC police for riding on the sidewalk without a helmet. Hylton collided with a passenger vehicle and later died in hospital after being administered first aid by police.Police could be seen lining streets dressed in riot gear and using bikes to form barriers at the scene. Credit: RawsMedia via Storyful
The polyisobutylene market in APAC is expected to grow from US$ 749. 5 million in 2019 to US$ 1,088. 7 million by 2027; it is estimated to grow at a CAGR of 4. 8% from 2020 to 2027. The rise in demand for polyisobutylene from construction industry will propel the growth of the APAC polyisobutylene market.New York, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Polyisobutylene Market Forecast to 2027 – COVID-19 Impact and Analysis by Molecular Weight, Product, Application, and End Use (Industrial, Food, and Others" - https://www.reportlinker.com/p05978831/?utm_source=GNW The worldwide changes in the construction industry associated with use of material is changing faster than ever before.Urbanization is one of the international megatrends shaking up the construction industry.Two hundred thousand people per day raise the population of the urban zones, all of whom need reasonably priced housing and transportation, social and utility infrastructure.In such challenges, the construction industry is practically under a moral compulsion to transform.This transformation is impacting the society by reducing construction costs, and by enlightening the use of scarce materials, making buildings eco-efficient, boosting economic development, and narrowing the infrastructure gap.Utilization of polyisobutylene in owing to demand for material with high melt flow rates, greater elongation, as well as enhanced impact strength. Increasing infrastructure demand in the evolving economies of the Asia Pacific on account of developing road infrastructure, an increase in per capita ownership of houses, and rising spending capacity is expected to affect the construction sector in the region, which will drive the demand for polyisobutylene in APAC region. The increasing demand for PIB from developed and developing economies is among the other factors expected to positively influence the demand for polyisobutylene (PIB) market.In terms of end use, the industrial segment led the polyisobutylene (PIB) market in 2019.Polyisobutylene (PIB) is widely used in industrial applications and end-use industries such as pesticides and insecticides, automotive, and electrical.Moreover, polyisobutylene (PIB) is becoming the choice for pest control in agriculture, such as vineyards and other delicate crops.It is used in the formulation of pesticides and insecticides to increases their efficiency due to polyisobutylene’s tackiness.Polyisobutylene (PIB) with high molecular weight can be used to trap insects physically, and are often used in vineyards and other delicate crops as a non-toxic method of pest control.Polyisobutylene is hydrophobic and non-conductive and is thus used as electrical insulation across various applications in cable and wire industry.Its low chloride content and high purity level results in resistance to oxidation and gas evolution under electrical stress. Moreover, polyisobutylene (PIB) are used in the industrial packaging film. These multiple advantages of PIB across various industries fuel the growth of the APAC polyisobutylene market.With the outbreak of COVID-19, the APAC region is likely to get affected with respect to the economic growth.Although, China is the global manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak followed by India, where all business operations are halted due to nationwide lockdown.Other leading manufacturing hubs such as South Korea and Japan are also facing significant impact of COVID-19 outbreak. Various initiatives such as travel bans, business shutdowns, and lockdowns were imposed by the governments across APAC, which is anticipated to affect the expected revenue generation and overall growth opportunities in APAC.The overall APAC polyisobutylene (PIB) market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.The process also serves the purpose of obtaining overview and forecast for the APAC polyisobutylene (PIB) market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC polyisobutylene (PIB) market. TPC Group, The Lubrizol Corporation, Infineum International Limited, Ineos AG, Daelim Industrial Petrochemical Division, Braskem SA, and BASF SE are among the key players operation in the APAC polyisobutylene (PIB) marketRead the full report: https://www.reportlinker.com/p05978831/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Could the Covid surge be hurting Trump in the midwest?. Donald Trump continues to downplay the virus, as cases rise in key battleground states
Investigation that cleared government in transparency case failed to speak to key witnessOmbudsman did not contact the Right to Know freedom of information website before exonerating federal agency over alleged legal threat
Organisers of next year's New Zealand Open golf tournament have had to cancel the event because of the uncertainty over the coronavirus pandemic. "We are extremely disappointed to have had to come to this decision," organising committee chairman John Hart said in a statement on Thursday. New Zealand has closed its borders to anyone but returning citizens or permanent residents and while overseas visitors can apply for an exemption, they must meet stringent conditions and are rarely granted.
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...
Press Release Paris, 29th October 2020 Third quarter 2020 Q3’20 strongly supports 2020 guidance Mid to high single digit full year organic decline confirmed All 2020 objectives reiterated Revenue of €646 million, down 9% on a comparable basis1Retail growth down 5% in Q3’20, better than expectedActivity in SMB, Enterprise and Payone stabilized while Global Online is still impacted by the Travel vertical B&A performance in the trajectory of a gradual recovery with a 14% organic decline in Q3’20 Fit for Growth and Covid-19 action plan on-track to deliver €135 million impact in 2020, All 2020 objectives reiteratedMid to high single digit organic decline in revenues for FY’20FY’20 EBITDA in percentage of net revenue above 21%Free Cash Flow conversion rate above 50% Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payments, today announced its revenue for the third quarter 2020. Michel-Alain Proch, Chief Financial Officer of Ingenico Group, commented: “In the context of the Covid-19 crisis, the Group posted a solid performance in the third quarter, achieving 9% organic decline with a better than expected performance of Retail while B&A came fully in line with our expectations. The latest evolution of the health situation leads us to be cautious regarding the recovery curve of the fourth quarter which will be smoother than expected. Considering the dynamics of the last two quarters of the year, we confirm our scenario, a mid to high single digit organic decline in revenues for 2020. During the first nine months, we have successfully pursued the execution of our Covid-19 action plan on top of the Fit for Growth plan and we confirm our objective to deliver a combined €135 million EBITDA savings impact in 2020. I would like to thank our teams for their proactive mobilization during this period and their full commitment to deliver quarter after quarter a very solid EBITDA performance despite the health situation. Finally, the combination with Worldline is now completed and integration is fully on track to create the undisputed European champion in payments.” Key figures 9-months 2020 Q3 2020 €m % Change €m % Change Comparable1 Reported Comparable1 Reported Retail 980 -4% -7% 348 -5% -7% SMBs 174 -3% -4% 60 -6% -6% Global Online 252 -7% -8% 84 -14% -15% Enterprise 268 -3% -10% 98 4% -3% Payone 286 -5% -5% 107 -5% -5% B&A 908 -12% -16% 297 -14% -22% EMEA 323 -9% -9% 111 -4% -4% Latin America 142 -17% -41% 53 -13% -45% North America 176 22% 36% 54 -8% -4% Asia-Pacific 266 -26% -26% 79 -27% -29% TOTAL 1,888 -8% -12% 646 -9% -14% Third quarter 2020 performance In the third quarter of 2020, net revenue totalled €646 million, representing a 9% decrease on a comparable basis. On a reported basis net revenue was 14% lower than in the third quarter of 2019 and included a negative foreign exchange impact of €34 million and the effect of Healthcare France disposal. Over the quarter, the Retail Business Unit reported a net revenue of €348 million, showing a decrease of 5% on a comparable basis. On a reported basis, net revenue decreased by 7% during the quarter and included a negative foreign exchange impact of €6 million and the effect of Healthcare France disposal. Compared with Q3’19, the various activities performed as follows on a like-for-like basis: SMB (down 6%): The third quarter performance was slightly above our expectations with a positive performance on the non-travel verticals. SMB continued to deliver a steady onboarding rate of merchants on its platform with c.1,000 net new customers per month (c.4,000 gross new customers), thanks to an ongoing decrease of the churn rate during the period and a strong dynamic on online merchants. During the third quarter, the all-in one instore offering, Bambora connect, tailored for ISVs, is continuing to gain traction with a significant ramp-up of one of the contracts signed in H1’20 and good growth prospects expected for the fourth quarter of 2020. Global Online (down 14%): The third quarter performance came in line with our expectations driven by a good dynamic in the non-Travel verticals such as marketplaces, gaming and digital goods continuing to grow double-digit, but not able to fully compensate the Travel impact. The latter vertical remains impacted by the fall of international travel traffic, as expected, despite some domestic and intra-regional travel recovery, and less refunds flows accounted than in Q2’20. On the regional side, APAC continued showing good momentum again growing double digit. During the period, Global Online pursued its geographical and acceptance network expansion with new client wins during the quarter and expanded relationships with existing clients such as Shein, Zendesk or Mindbody. Enterprise (up 4%): Performance came slightly better than expected during the third quarter despite the high comparison basis in Q3’19 driven by Healthcare Germany activities. Excluding this specific effect, Enterprise was up 9% on an organic basis. The division is benefiting from a strong traction on both sale of POS and transaction activities. In the latter, the transaction business continued its double-digit growth, driven by the European omnichannel instore platform (Axis), in which processed volumes recovered during the third quarter after a Q2’20 strongly impacted by the lockdowns in Europe. POS activities enjoyed a good dynamic. North America has been a strong driver this quarter, with an activity back to normative levels. Payone (down 5%): The third quarter performance came in line, with transaction activities fuelled by an acceleration of the shift towards electronic payments, in the trajectory of Q2’20. Usage of card payment in the German market continued to strongly increase, thanks to the improvement of payment threshold leading to a higher usage of contactless payments that represent today c.60% of electronic payments vs c.50% pre-Covid. The conversion of saving banks customers to Payone payment solution remained steady during the quarter, driven by the one-stop shop offering and digital onboarding capabilities, with more than 1,000 net new merchants joining the platform every month. The DACH region shift acceleration towards electronic payments will benefit to Payone performance in the coming quarters. The B&A Business Unit posted a net revenue of €297 million, a 14% decrease on a comparable basis. On a reported basis, the activity decreased by 22% and included a negative foreign exchange impact of €28 million. Compared to Q3’19, the various regions performed as follows on a like-for-like basis: Europe, Middle-East & Africa (down 4%): The third quarter performance came in solid and slightly above our expectations with a steady improvement of the dynamic quarter to quarter. In Q3’20, France was back to growth, while countries such as DACH and Iberia have shown a good dynamic, fuelled by Terminal as a Service contract signed in H1’20 and the first deliveries of Android POS for the latest. In the meantime, the UK and Italy remained impacted in the current environment. As expected, Eastern Europe, after being back to growth in H1’20, has pursued on the same trajectory, while Russia has continued to suffer from a high comparison basis and a low pipeline of projects. The trajectory of the region should remain solid in the coming quarters with an improvement of the overall performance. Asia-Pacific (down 27%): The dynamic in the region came in below our expectations during the quarter. China has been still impacted by a very low pipeline due to the lack of projects initiated in H1’20. The situation should continue in the coming quarters. In parallel, India has been strongly impacted by the ongoing lockdowns that are still implemented in the country. As during H1’20, South East Asia came in softer on the back of Indonesia suffering from a high comparison basis. In the meantime, the Pacific region has shown a good dynamic, benefitting from the ongoing impact of commercial successes and pipeline of projects that would continue to deliver good growth basis in Q4’20. Latin America (down 13%): The dynamic in the region came in slightly better than our expectations with Brazilian market still impacted by the Covid-19 spread during the quarter, combined with high comparison basis. This situation should continue to weight in the coming quarters. In other countries, such as Columbia, Argentina and Peru, the momentum keeps ongoing on the same trajectory as H1’20, fuelled by the contracts signed and the pipeline of projects. North America (down 8%): The third quarter performance came in line with a level of activity stabilizing sequentially after four quarters of strong growth. On the regional side, Canada is back to a normative level of activity during the last quarter. US-based activity remained strong benefitting from the early implementation of our ISV vertical initiative showing a continuous strong dynamic fuelled by project delivery and development of partner programs. In the meantime, the first Terminal as a Service contract has been signed during the Q3’20. The ongoing demand on back of the EMV cycle renewals remains robust and some consolidation of market shares has been achieved. Overall, the pipe should sustain sequentially the level of activity in the coming quarters. All 2020 objectives confirmed Net revenue: a mid to high single digit organic declineEBITDA: an EBITDA margin above 21% (20.9% in FY’19)Free cash-flow conversion: a FCF conversion above 50% The 2020 objectives communicated in April have been built on the three following scenarios structured around different recovery curves: Scenario 1: return to the pre-Covid-19 guidance of 4% to 6% organic growth in Q4’20 leading to a mid-single digit organic decline in FY’20;Scenario 2: return to the pre-Covid-19 guidance of 4% to 6% organic growth in December 2020 leading to a mid to high single digit organic decline in FY’20;Scenario 3: return to the pre-Covid-19 guidance of 4% to 6% organic growth in Q1’21 leading to a high single digit organic decline in FY’20. After nine months of activity, the Group’s business assumptions remain unchanged, i.e. a progressive pick-up in consumption while stores re-open depending on health constraints, a central scenario on travel with no recovery of international travel before 2021 and a gradual pick-up on regional travel, and some possible short and local re-confinements in the countries in which the Group operates. Based on the recent performance with a third quarter better than expected driven by a post-confinement pick-up in activity, Ingenico anticipates for the fourth quarter a gradual recovery curve. Despite this phasing, the overall group’s performance for the full year should remain in the mid to high single digit organic decline, confirming the expected growth scenario. Based on this scenario, Ingenico Group confirms its strong and holistic action plan activated early March, aiming at adapting its cost structure, protecting profitability and preserving cash. Consequently, on top of the Fit for Growth plan that will deliver €35 million EBITDA impact in 2020, this C19 action plan implemented during Q1’20 will deliver €100 million added EBITDA impact in 2020. Ingenico Group’s long-term growth drivers remain intact and we are convinced that the Group should come out of the current crisis even stronger with the engagement of all of the teams serving our clients for the benefit of all of our stakeholders. Audio Webcast & Conference Call The third quarter 2020 revenue will be discussed in an audio webcast and a Group telephone conference call to be held on 29th October 2020 at 7.15am Paris time (6.15am UK time). The presentation and audio webcast will be accessible at www.ingenico.com/finance. The call will be accessible by dialling one of the following numbers: +33 (0) 1 70 37 71 66 (from France), +1 212 999 6659 (from the US) and +44 20 3003 2666 (from other countries) with the conference password: Ingenico. This press release contains forward-looking statements. The trends and objectives given in this release are based on data, assumptions and estimates considered reasonable by Ingenico Group. These data, assumptions and estimates may change or be amended as a result of uncertainties connected in particular to the performance of Ingenico Group and its subsidiaries. These forward-looking statements in no case constitute a guarantee of future performance, and involve risks and uncertainties. Actual performance may differ materially from that expressed or suggested in the forward-looking statements. Ingenico Group therefore makes no firm commitment on the realization of the growth objectives shown in this release. Ingenico Group and its subsidiaries, as well as their executives, representatives, employees and respective advisors, undertake no obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future developments or otherwise. This release shall not constitute an offer to sell or the solicitation of an offer to buy or subscribe for securities or financial instruments. About Ingenico Group Ingenico Group (Euronext: FR0000125346 – ING) is shaping the future of payments for sustainable and inclusive growth. As a global leader in seamless payments, we provide merchants with smart, trusted and secure solutions to empower commerce across all channels and enable simplification of payments and deliver customer promises. We are the trusted and proactive world-class partner for financial institutions and retailers, from small merchants to the world’s best-known global brands. We have a global footprint with more than 8,000 employees, 90 nationalities and a commercial presence in 170 countries. Our international community of payment experts anticipates the evolutions of commerce and consumer lifestyles to provide our clients with leading-edge complete solutions wherever they are needed.www.ingenico.com @ingenico For more experts’ views, visit our blog. Contacts / Ingenico Group InvestorsLaurent Marie - VP Investor Relations & Financial Communication(T): +33 (0)1 58 01 83 firstname.lastname@example.org MediaHélène Carlander - PR Officer(T): +33 (0)7 72 25 96 email@example.com EXHIBIT 1GROSS AND NET REVENUE Following the achievement of the Group operating model redesign, the reporting has been adjusted as follow: Restatement of Healthcare France contribution after the disposal of the entity end 2019Mexico is now allocated in North America versus Latin America previously following a change in management responsibility In parallel, as announced and to provide a greater transparency and to make it easier to read the performance, revenue are now reported on a net basis (excluding interchange fees). 1. FORMER REPORTING ON REPORTED BASIS (GROSS REVENUE) In Millions of euros Q1 2019 Q2 2019 Q3 2019 Q4 2019 2019 Retail 435 471 501 512 1,919 SMBs 79 85 90 89 343 Global Online 133 141 152 155 582 Enterprise 91 104 101 116 412 Payone 131 142 158 152 582 Banks & Acquirers 318 387 379 367 1,451 EMEA 110 130 116 118 473 Latin America 65 78 96 85 325 North America 31 42 56 60 189 APAC 112 136 111 104 463 TOTAL 753 858 880 879 3,370 2. NEW REPORTING ON A PRO FORMA BASIS (GROSS REVENUE) In Millions of euros Q1 2019 PF Q2 2019 PF Q3 2019 PF Q4 2019 PF 2019 PF Retail 430 464 500 512 1,906 SMBs 79 85 90 89 343 Global Online 133 141 152 155 582 Enterprise 87 96 99 116 399 Payone 131 142 158 152 582 Banks & Acquirers 319 389 376 365 1,449 EMEA 111 132 117 119 479 Latin America 57 72 83 81 293 North America 37 46 62 57 201 APAC 115 140 114 108 477 TOTAL 749 853 875 878 3,355 3. FORMER REPORTING ON REPORTED BASIS (NET REVENUE) In Millions of euros Q1 2019 Q2 2019 Q3 2019 Q4 2019 2019 Retail 324 351 376 394 1,444 SMBs 57 60 64 66 246 Global Online 85 90 99 101 374 Enterprise 91 104 101 116 412 Payone 91 98 112 111 412 Banks & Acquirers 318 387 379 367 1,451 EMEA 110 130 116 118 473 Latin America 65 78 96 85 325 North America 31 42 56 60 189 APAC 112 136 111 104 463 TOTAL 642 738 755 761 2,895 4. NEW REPORTING ON A PRO FORMA BASIS (NET REVENUE) In Millions of euros Q1 2019 PF Q2 2019 PF Q3 2019 PF Q4 2019 PF 2019 PF Retail 319 344 374 394 1,431 SMBs 57 60 64 66 246 Global Online 85 90 99 101 375 Enterprise 87 96 99 116 399 Payone 91 98 112 111 412 Banks & Acquirers 319 389 376 365 1,449 EMEA 111 132 117 119 479 Latin America 57 72 83 81 293 North America 37 46 62 57 201 APAC 115 140 114 108 477 TOTAL 638 733 750 760 2,881 1 On a like-for-like basis and at constant rate on net revenues Attachment Q320_PR_ING_GROUP_29_10_20
Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) announced today the provisional end results for the all cash, public tender offer of UPC Schweiz GmbH (a subsidiary of Liberty Global) to acquire all publicly held shares of Sunrise Communications Group AG (SIX Swiss Exchange: SRCG). Based on preliminary numbers, 43,670,149 Sunrise shares have been tendered as of the end of the additional acceptance period, corresponding to 96.48% of the fully diluted share capital of Sunrise.
A fast-moving Hurricane Zeta barreled northeast Thursday morning after ripping through Louisiana and Mississippi where storm-weary residents were advised to stay indoors overnight while officials assessed the havoc the storm had wrought. The storm raged onshore Wednesday afternoon in the small village of Cocodrie in Louisiana as a strong Category 2 and then moved swiftly across the New Orleans area and into neighboring Mississippi, bringing with it both fierce winds and storm surge.
Equinor (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 0.78 billion and USD 0.27 billion after tax in the third quarter of 2020. IFRS net operating income was negative USD 2.02 billion and the IFRS net income was negative USD 2.12 billion, following net impairments of USD 2.93 billion mainly due to reduced future price assumptions. Solid results from operations in a low-price environmentOn track to deliver on USD 3 billion action plan to strengthen financial resilienceStrong value creation from renewablesNet debt ratio(1) increased to 31.6%, due to net impairments and payment for government share of share buy-back “Our financial results are impacted by weak prices as regions across the world are still severely affected by the pandemic. We see the results of our forceful response to the market turmoil, with significant cost improvements and strict financial discipline. Net impairments in the quarter are mainly due to reduced price assumptions. Significant uncertainty remains around the future commodity price development underlining the importance of increased competitiveness and financial resilience,” says Eldar Sætre, President and CEO of Equinor ASA. “We deliver solid operational results in the quarter with an underlying production growth of nine percent. We progress our competitive project portfolio, supported by the tax policy measures in Norway, with the delivery of Plan for Development and Operation of the Breidablikk field. Our specialised organisation for late-life production at the Norwegian continental shelf had a successful start-up showing improved production efficiency and reduced cost,“ says Sætre. “We continue to capture value from our renewable energy portfolio and position ourselves for profitable growth in value chains for carbon capture and storage. This quarter we announced our partnership with BP, including the divestment of half of our share of offshore wind projects Empire Wind and Beacon Wind in the US. We are progressing H2H Saltend, a project for large-scale production of hydrogen in the UK, and in Norway we are progressing the Northern Lights project as part of creating full value chains for carbon capture, transportation and storage,” says Sætre. Adjusted earnings  were USD 0.78 billion in the third quarter, down from USD 2.59 billion in the same period in 2019. Adjusted earnings after tax  were USD 0.27 billion, down from USD 1.08 billion in the same period last year. Low prices for liquids and gas impacted the earnings for the quarter. Equinor is on track to deliver on the action plan launched in March 2020 of USD 3 billion to strengthen financial resilience, including a reduction of operating costs of USD 0.70 billion. Unit production costs are significantly reduced from third quarter last year. In the E&P Norway segment, Equinor saw weak prices impacting the results but took advantage of the flexibility in gas production as gas prices in Europe recovered through the quarter. Results in the E&P International segment were impacted by low prices, partially offset by a substantial reduction in costs. The E&P USA segment was also impacted by weak prices, while continuing efforts to reduce activity and costs. The Marketing, midstream and processing segment captured value from gas sales to Europe, offset by slightly negative refinery margins in the quarter. New energy solutions delivered a positive result in the quarter, including costs related to maturation of new projects. A capital gain of around USD 1 billion from the divestment of a 50% non-operated interest of the offshore wind projects Empire Wind and Beacon Wind in the US is expected to be booked in the first quarter of 2021. IFRS net operating income was negative USD 2.02 billion in the third quarter, down from negative USD 0.47 billion in the same period of 2019. IFRS net income was negative USD 2.12 billion in the third quarter, down from negative USD 1.11 billion in the third quarter of 2019. Net operating income was impacted by net impairments of USD 2.93 billion mainly due to reduced future price assumptions as well as some reductions in reserves estimates. Net impairments include USD 1.38 billion in the E&P USA segment, of which USD 1.21 billion is related to US onshore. Impairments in the E&P International segment were USD 1.18 billion, while impairments within the E&P Norway segment was USD 0.37 billion. In total, USD 0.58 billion of the net impairment was recognised as exploration expenses. Equinor delivered total equity production of 1,994 mboe per day in the third quarter, up from 1,909 mboe per day in the same period in 2019, with an increased share of gas. Adjusting for portfolio transactions and government-imposed curtailments, this represents an underlying production growth of around 9% compared to the third quarter of 2019. At the end of the third quarter Equinor has completed 26 exploration wells with 13 commercial discoveries and two wells under evaluation. At the quarter end, 16 wells were ongoing. Adjusted exploration expenses in the quarter were USD 0.30 billion, compared to USD 0.26 billion in the same quarter of 2019. Cash flows provided by operating activities before taxes paid and changes in working capital amounted to USD 10.2 billion in the first nine months of 2020, compared to USD 16.6 billion in the first nine months of 2019. Organic capital expenditure  was USD 5.99 billion for the first nine months of 2020. At the closing of the quarter net debt to capital employed(2) was 31.6%, up from 29.3% at the end of the second quarter of 2020, mainly impacted by the net impairment in the quarter, as well as share buy-back from the Norwegian state. Following the implementation of IFRS 16, net debt to capital employed(2) was 37.0%. The board of directors has decided a cash dividend of USD 0.11 per share for the third quarter 2020. The twelve-month average Serious Incident Frequency (SIF) for the period ending 30 September was 0.6 for 2020, similar to the same period for 2019. The twelve-month average Recordable Injury Frequency (TRIF) for the period ending 30 September was 2.3 for 2020, compared to 2.5 in 2019. * * * (1) (2) This is a non-GAAP figure. Comparison numbers and reconciliation to IFRS are presented in the table Calculation of capital employed and net debt to capital employed ratio as shown under the Supplementary section in the report.  For items impacting net operating income, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures. * * * Further information from: Investor relationsPeter Hutton, senior vice president Investor relations,+44 7881 918 792 (mobile) Helge Hove Haldorsen, vice president Investor Relations North America,+1 281 224 0140 (mobile) PressBård Glad Pedersen, vice president Media relations,+47 918 01 791 (mobile) This information is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act Attachments Third quarter 2020 Financial statements and review Press release third quarter 2020 results CFO presentation 3rd Quarter 2020 results
Airbus <AIR.PA> said on Thursday it expected to reach cash breakeven in the fourth quarter, setting the first forward-looking target since the start of the coronavirus crisis after managing to stop bleeding cash in the third quarter.
President Donald Trump and challenger Joe Biden will rally voters just hours apart in the Florida city of Tampa on Thursday, their campaign paths crossing for the first time as the rivals' fight for the White House enters its frenetic final days.
He is best known for playing Alfie Moon in the BBC soap.
Asian shares declined Thursday and U.S. futures were higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. The selling in U.S. markets followed broad declines in Europe, where the French president announced tough measures to slow the virus’ spread and German officials agreed to impose a four-week partial lockdown. India surpassed 8 million confirmed COVID-19 cases, second only to the U.S., with nearly 8.86 million.