Yahoo Finance's Kumutha Ramanathan has the latest from London.
Yahoo Finance's Kumutha Ramanathan has the latest from London.
First Northern Community Bancorp Reports Third Quarter 2020 Net Income of $3.4 Million
As Tesla touts the cutting-edge nature of its new Full Self Driving software, rival Mercedes-Benz says it has developed a similar system but stops short of allowing members of the public to take it on urban roads. The Germans, pioneers in developing advanced driver assistance systems (ADAS), are taking a step-by-step approach to releasing new technology, waiting for their own engineers, rather than the general public, to validate their system. Both approaches - one conservative and one radical in nature - are designed to push highly automated driving on to public roads, a step that could massively reduce accidents, since computers have faster accident-avoidance reflexes than humans.
(Bloomberg) -- President Donald Trump and his aides on Tuesday appeared resigned to waiting until after the election to get a coronavirus stimulus package and put blame on House Speaker Nancy Pelosi for the delay.“After the election we’ll get the best stimulus package you’ve ever seen,” Trump told reporters. The speaker responded in a statement Tuesday afternoon that “the president’s words only have meaning if he can get Mitch McConnell to take his hand off the pause button,” referring to the Senate majority leader’s reluctance to embrace a larger-scale relief bill.While Pelosi said that congressional committee chairs continue to work on stimulus legislation, White House spokeswoman Alyssa Farah said earlier Tuesday that the focus is now on something that can be assembled “within weeks.”Lawmakers had increasingly predicted no deal between the Democrats and the administration would be done before Nov. 3. The departure of U.S. senators from the Capitol for a pre-election break on Monday then made the logistics for passing a bill by Election Day practically impossible.After the latest call between Pelosi Treasury Secretary Steven Mnuchin on Monday, there was still no agreement on both the size -- the Trump administration was last at $1.9 trillion, with the Democrats at $2.4 trillion -- and language of a bill.Blame GameTrump on Tuesday repeated his accusation that Pelosi is holding out for funds to bail out what he said are poorly run Democratic state and local governments.Pelosi, meantime, reiterated her charge, in a letter to House colleagues, that the administration wasn’t committed to a strategic plan to “crush the virus.”The stalemate in the the months-long talks leaves the economy more vulnerable to damage from a resurgent coronavirus pandemic. The shape of any post-Nov. 3 package is also unclear and will likely be influenced by the results.“We’ll come back in November. The question might be, will there be something then?” Senate Appropriations Chairman Richard Shelby, an Alabama Republican, said Monday.Stocks RattledU.S. stocks slumped the most since early September on Monday, thanks in part to recognition that stimulus will await the election. The S&P 500 Index retreated a further 0.3% Tuesday.The administration has stopped short of an outright declaration of an end to negotiations. Trump told reporters Tuesday, “I’ll always talk about it. Because our people should get it.”Both sides have a motive to keep the discussions going, as walking away would only invite blame from voters for killing off hopes for relief.Polls show that control of both the Senate and the White House are in play on Nov. 3, complicating the outlook for a post-election stimulus deal.Election ScenariosA Trump victory and continued Republican control of the Senate would likely result in a smaller package than Pelosi is seeking. Senate GOP leader McConnell has consistently criticized the Democrats for pushing what he considers an overly broad spending package that includes non-coronavirus related items. He attempted to advance a roughly $500 billion bill last week, which was blocked by Democrats.Victory for Joe Biden and a flip of the Senate to the Democrats would clear the way for a bigger-scale stimulus, though that could also be delayed into 2021, should Republicans resist during their remaining weeks in control of the chamber.A split outcome from the Nov. 3 election could bring a variety of further complications. But in the interim before the new Congress sits, Republicans would have to find 13 from their Senate ranks to join Democrats in approving any deal. GOP leadership has been skeptical whether 13 would indeed emerge.Senator John Thune of South Dakota, the No. 2 Republican leader in that chamber, told reporters at the Capitol Sunday that if Democrats win on Nov. 3, they could opt to proceed with a smaller stimulus in the lame-duck session and come back with more early in the new year.“If they don’t, and we are still in the majority, then I suspect there’s more interest in trying to get a deal,” Thune said. “There’s a whole range of things that we all agree on. And I don’t know why we can’t at least do that.”Pelosi’s top deputy, Majority Leader Steny Hoyer, said Tuesday, “Hopefully, in the lame duck, we will pass a bill which will give very substantial relief to a broad number of the businesses and people, and hospitals and health care workers that need the help.”“Hopefully we will get a comprehensive bill. It may not be as much as we want,” he told reporters.(Adds Hoyer comment in final two paragraphs.)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.
Atlas Crest Investment Corp. Announces Pricing of $500 Million Initial Public Offering
The hybrid SUV will receive the same battery capacity as the upcoming 2021 Panamera E-Hybrids.
On the call today, we have Chris Cartwright, President and Chief Executive Officer; and Todd Cello, Executive Vice President and Chief Financial Officer. Now with that, let me turn the time over to Chris.
On the call with me are Emanuele Lauro, Chairman and Chief Executive Officer; Robert Bugbee, our President; Cameron Mackey, Chief Operating Officer; James Doyle, Senior Financial Analyst; and David Morant, Managing Director. Yesterday, after the market closed, we issued our third quarter earnings press release, which is available on our website.
In today's TV news roundup, Showtime announced the release date for "Couples Therapy: The COVID Special," and Starz cast German actor Alicia von Rittberg as young Queen Elizabeth in "Becoming Elizabeth." CASTING Starz cast Alicia von Rittberg as the lead in the network's upcoming project, "Becoming Elizabeth." The eight-episode series tells the story of Queen […]
(Bloomberg) -- Microsoft Corp.’s first-quarter revenue climbed a better-than-projected 12%, strengthened by corporate demand for cloud-computing services to support customers’ remote workers and move more of their business online.Sales in the period that ended Sept. 30 rose to $37.2 billion, the software maker said Tuesday in a statement. That exceeded the $35.8 billion average estimate of analysts polled by Bloomberg, and marked Microsoft’s 13th straight quarter of double-digit revenue growth. Net income was $13.9 billion, or $1.82 a share. Analysts had predicted $1.54 a share.Since the pandemic started, business customers have accelerated a shift to Microsoft’s Azure internet-based computing services and online subscriptions to Office software that comes with teleconferencing programs and work-from-home tools. That’s helped shore up growth at the company, which is No. 2 in cloud infrastructure behind Amazon Web Services, even as the global economy languishes.Sales of video games have also risen with people looking for ways to pass the time while stuck at home. That’s made up for weaker one-time software purchases by smaller businesses and consumers.“The pandemic and work-from-home has caused some information technology guys to move faster on building out a public-cloud strategy,” said Daniel Morgan, senior portfolio manager at Synovus Trust Co. “They have also made some big headway in market share from where they were in cloud just three years ago. Microsoft has done a good job in not letting AWS just blow them out of the water.”Microsoft shares slipped about 1% in extended trading following the report, after rising 1.5% on Tuesday in New York. Though its first-quarter report was decisively upbeat, the Redmond, Washington-based company gave a second-quarter forecast for revenue in some divisions that fell short of the highest analysts’ projections.On a conference call following the results, Microsoft said sales in the Intelligent Cloud unit, the group that includes Azure and server software, will be $13.55 billion to $13.8 billion, compared with the $13.9 billion average estimate. The company’s forecast for the More Personal Computing division was $13.2 billion to $13.6 billion, also below the $13.9 billion average prediction.“We see this as prudent and conservative as Redmond continues to under-promise and over-deliver for the Street on this Covid backdrop,” said Dan Ives, an analyst at Wedbush Securities.In the first quarter, Azure revenue rose 48%, compared with a 47% gain in the prior quarter. Analysts polled by Bloomberg on average projected sales of Azure cloud services to increase by 45%. Three years ago, Azure revenue had been almost doubling each quarter, and that growth rate has been closely watched among investors.The software maker’s results may ease fears stoked by some early technology-industry earnings reports that indicated demand was crimped by the pandemic. Earlier this week, SAP AG, one of Europe’s largest tech companies, cut its revenue forecast for the full year and said it expects new Covid-19 lockdowns to curb sales through the first half of 2021. Last week, Intel Corp. reported a surprise drop in sales of chips for data centers, potentially signaling a drop-off in demand for expansion of the server farms that underpin cloud-computing services.Microsoft, by contrast, has seen strong customer interest in its commercial products, where bookings, a measure of future sales, rose 23%, Chief Financial Officer Amy Hood said.“What we’ve seen and continue to see are customers across industries really looking to push their digital transformation priorities forward, even in a time of constraint,” Hood said in an interview.Next month, Microsoft will launch a new version of its Xbox video-game console -- right at a time of high unemployment, particularly among young people. The company is hoping to entice users by offering payment plans, a cheaper model that will go for $300, and programs that give buyers a new machine and a subscription with hundreds of games for a monthly fee. Hood forecast strong demand for the new console and said gaming hardware sales will rise 40% in the current period.Commercial cloud sales in the first quarter rose 31% to $15.2 billion in the recent period, Microsoft said in slides posted on its website. Gross margins in that business widened by 5%, mostly because of an accounting change. Revenue from Xbox content and services soared 30%, and sales at the LinkedIn professional-networking service gained 16%.The company’s Teams videoconferencing and chat software, which competes with Slack Technologies Inc., now has 115 million daily active users, up from 75 million in April.While subscription revenue for offerings such as cloud services performed well, the company continues to see weakness in one-time purchases of corporate software as some customers try to pare costs.In the personal-computer market, consumer demand remains strong from buyers looking for extra devices and larger screens to support remote work and school, Hood said. That helped boosted Surface device revenue 37% in the September quarter. Still, commercial sales were weaker, especially compared to the year-earlier quarter, when companies were upgrading ahead of the expiration of support for Windows 7.(Updates with second-quarter outlook in seventh 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.
Amazon launches eco-friendly shopping platform. Site will show shoppers sustainable products but campaigners say it is ‘tip of iceberg’
Today, the Board of Directors of Washington Federal, Inc. (Nasdaq: WAFD) (the "Company"), parent company of Washington Federal Bank, National Association "WaFd Bank" announced a regular quarterly cash dividend of 22 cents per share. The dividend will be paid November 20th, 2020 to common stockholders of record as of November 6th, 2020. This will be Washington Federal’s 151st consecutive quarterly cash dividend.
The Global Hemophilia Therapeutics Market will grow by $ 4.19 bn during 2020-2024
Most of the products already listed have Amazon’s own certification.
Does the October share price for James Hardie Industries plc (ASX:JHX) reflect what it's really worth? Today, we will...
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes for Oportun Funding 2020-1, LLC ("Oportun 2020-1"), a consumer loan ABS transaction. Oportun 2020-1 will issue four classes of notes totaling $193.65 million that are collateralized by unsecured installment loans.
An Iranian plane owned by a company sanctioned by the United States for allegedly shipping weapons to Syria landed in Venezuela on Tuesday, according to an opposition Venezuelan lawmaker and flight tracking data. The EP-FAB 747 aircraft, owned by Iran's Qeshm Fars Air, landed at a time when trade ties have grown closer between the two OPEC members, whose oil industries are under increasingly strict U.S. sanctions. It was not immediately clear what the plane brought to Venezuela.
Officials have not confirmed if fatality is an adult or child
Specieswatch: theme park offers no joy ride for jumping spiderPlanned development in Kent risks destroying the only two British habitats of 1cm arachnid
'I can't tell you how important it is that we flip the United States Senate,' former vice president says a week out from Election Day
GOP strategist say 2020 race shaping up ‘eerily similar’ to one in 2016 the president won in a surprise