Celebrate the spookiest season with detailed pumpkin carvings
Celebrate the spookiest season with detailed pumpkin carvings
Bellway said its forward order book jumped 43% year-on-year as demand for homes picked up after the initial round of lockdowns and added that it expects to increase the quantum of future dividend payments over time. The company, which builds everything from one-bedroom apartments to six-bedroom family homes, said that production levels are improving and are currently between 85% and 90% of the prior year. Bellway said it expects to complete the sale of around 9,000 homes at an expected average selling price of around 290,000 pounds for the year ending July 31, 2021.
The Giro was on the brink of being cancelled last week after five teams were hit by COVID-19 cases, with the Mitchelton-Scott and Jumbo-Visma teams withdrawing before the 10th stage. The rider was not named.
Downing Street says there is still no basis to resume trade talks without a ‘fundamental change of approach’ from Brussels.
Remy Cointreau <RCOP.PA> said on Tuesday its first-half core profit will fall less than expected after the company posted a broader recovery in second-quarter sales, powered by robust demand for its premium cognac in the United States and China. Demand was buoyed by customers staying at home in the United States, and by a recovery in China during the country's Mid-Autumn celebrations, which partly offset a slump in travel retail sales triggered by the coronavirus outbreak. Second-quarter sales at Remy Cointreau reached 280.8 million euros ($330.75 million), down 4% at constant exchange rates and excluding the effect of acquisitions or disposals.
Residents at Yelverton Residential Home in Devon shared their pearls of wisdom on Facebook.
Japan’s Prime Minister Yoshihide Suga arrived Tuesday in Indonesia on the second leg of his first overseas trip as premier to underscore his government’s aims of countering China in the region. Suga arrived from Vietnam in the middle of a four-day visit to the two Southeast Asia nations he said was key to pursuing the “free and open Indo-Pacific” vision of economic and security cooperation to counter China’s growing power and its assertiveness in disputes with other governments over the South China Sea. Japan is pushing for members of the Association of the Southeast Asian Nations to cooperate in promoting its Free and Open Indo-Pacific vision.
A major U.S. retail chain selected 3CLogic's Cloud Call Center solution for ServiceNow ITSM and CSM to modernize its customer service initiatives.
UBS <UBSG.S> is giving lower-ranking employees an extra week's pay this year in light of the COVID-19 pandemic and adding a financial softener for employees looking to exit finance, the world's largest wealth manager said on Tuesday. "As a sign of appreciation for their contribution throughout this challenging year, and acknowledging that the pandemic may have resulted in unexpected financial impact, the Group Executive Board has decided to award UBS's employees at less senior ranks with a one-time cash payment equivalent to one week's salary," the Swiss bank said in a statement announcing its third-quarter results, adding the measure would add roughly $30 million in expenses in the fourth quarter. The bank also said it had modified its bonus policy so that eligible employees who wanted to make a career change under the strains and uncertainty of COVID-19, would be able to retain more deferred compensation than previously.
Volunteers will receive a vaccine and then be purposefully exposed to the new coronavirus in laboratory settings.
For example, steroids such as dexamethasone can lower the risk of dying for severely ill patients. A panel of experts convened by the National Institutes of Health updates guidelines as new studies come out.
(Bloomberg) -- UBS Group AG posted better-than-expected third-quarter profit and set aside $1.5 billion for share buybacks next year as Chief Executive Officer Sergio Ermotti prepares to hand over to Ralph Hamers.The Zurich-based wealth manager -- the world’s largest -- followed U.S. banks in reporting earnings that benefited from increased market volatility and higher transaction-based income. It also unexpectedly saw inflows of new money at the private banking business and said fourth-quarter provisions are set to remain “markedly lower” than in the first half.Ermotti, one of the longest-serving bank CEOs in Europe, is departing as the Covid-19 pandemic forces lenders to step up cost cuts and reignites consolidation talk. While the trading rally has helped banks prepare for the prospect of increased bad loans, record new infections in Europe and potential further clampdowns are now clouding the outlook for his successor.While warning that the recent increase in cases could impact the global recovery, UBS said it expects approval to start buying back shares next year after regulators pushed banks to conserve capital because of the crisis. UBS also accrued about $1 billion toward its expected 2021 dividend and said it plans to pay the second tranche of its 2019 payment on Nov. 27.Here are key highlights of third-quarter earnings:Net income of $2.1b vs estimate of $1.55bGlobal wealth management pretax profit $1.06 billion vs estimates of $912.4 millionInvestment bank pre-tax profit $632m vs $177m estimateCost-to-income ratio of 70.4% vs 75%-78% targetGoing forward, the bank plans to change the balance between cash dividends and share repurchases compared with previous years, potentially reducing a dividend that’s higher than many Wall Street peers in favor of the greater flexibility of buybacks.Under Ermotti, Switzerland’s largest bank pivoted away from volatile investment banking and focused on the relatively stable business of wealth management. That, along with a conservative approach to lending to its richest clients, has shielded its loan book to some extent from the impact of the pandemic. UBS added $89 million to its loan loss provisions during the quarter, less than the $225 million that analysts polled by Bloomberg had estimated.Net income about doubled from a year earlier. Third quarter results were boosted by one-off gains related to the sale of a fund distribution business and intellectual property rights at the investment bank.The issue of dividends and share buybacks has become a heated one in Europe. A few of the stronger banks in the region have started to lobby for a resumption of payouts again to help revive flagging share prices, though regulators have urged the industry to conserve capital. Within the European Central Bank -- which regulates rivals such as Societe Generale SA and Deutsche Bank AG -- there’s still uncertainty as to when it will allow banks to resume payments.“The fact that we are highlighting what we would have done so far this year, by creating this $1.5 billion reserve is a testament of our commitment,” on returns, Ermotti said in a Bloomberg Television interview. “In respect of timing, I think it’s not realistic at this stage considering the overall regulatory environment and restrictions worldwide to see something until the early part of 2021.”UBS rose as much as 2.8% in early Zurich trading, paring this year’s decline to about 7%. More recently, UBS has been seeking a more aggressive approach to lending, hiring Iqbal Khan, the former head of Credit Suisse Group AG’s international wealth management unit, to drive that push. Khan and his co-head of wealth management, Tom Naratil, announced organizational changes earlier this year that cut down on loan approval processing times and expanded the types of collateral the bank is willing to accept. UBS is also overhauling the legal structure of its key wealth management unit to free up billions of dollars for lending in higher-growth markets.The wealth management unit, UBS’s largest contributor of revenue, had been expected to post net outflows of $262 million during the quarter and instead saw inflows of about $1.4 billion. The third quarter was still affected by $5.5 billion of tax-related outflows in the U.S., where the deadline for filing tax returns was moved to July from April because of the Covid-19 crisis. Outflows in the Americas totaled $9.2 billion. In addition, a single client in Europe pulled $4 billion out of the bank.The remainder of outflows was because UBS saw several teams of financial advisors in its wealth unit poached by rivals. Due to the brokerage business model, when advisors leave they take their client assets with them. Still, pre-tax profit athe the business did better than expected and the Asia-Pacific region brought in $10 billion of net new money.Ermotti cut back the investment bank in the wake of a $2.3 billion loss from a trading scandal in 2011 under his predecessor and amid new regulations following the financial crisis. The shares more than doubled in his first four years, only to give up those gains when negative interest rates weighed on European bank stocks and rivals started to catch up. He leaves unresolved a potential $5 billion French fine for allegedly helping clients evade taxes.The pandemic has reignited talk of mergers in European banking, with lenders in Spain and Italy striking deals this year. UBS’s Chairman Axel Weber has drawn up a list of possible partners including Deutsche Bank AG, BNP Paribas SA, and Credit Suisse, people familiar with the matter have said. While Weber said publicly that UBS isn’t looking for a bride, he and other European bank leaders have long acknowledged the need for consolidation.Other key highlights from UBS’s third-quarter results:Fixed income and currency revenue keeps pace with top Wall Street peersErmotti says very confident on quality of credit bookSays covid situation makes it difficult to make reliable predictions(Adds Ermotti comment in 10th paragraph, shares in 11th)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.
Uniphore Adds Robotic Process Automation Technology to its Arsenal to Accelerate Innovation in Contact Centers Around the World
Samuel Paty, the 47-year old history teacher beheaded by a suspected Islamist last week, will posthumously get France's highest award, the "Legion d'Honneur", education minister Jean-Michel Blanquer told BFM TV on Tuesday. Paty was murdered on Friday in broad daylight outside his school in a middle-class Paris suburb by an 18-year-old of Chechen origin. The murder shocked France, and carried echoes of the attack five years ago on the offices of satirical magazine Charlie Hebdo.
PM's department says business leaders on Covid commission given access to confidential materialLeaders on Nev Power’s commission received ‘baseline’ security clearances so they could have access to confidential cabinet material
Sacha Baron Cohen forced host to remove his trousers
A Thai court on Tuesday ordered the suspension of an online TV station critical of the government, which has accused it of violating emergency measures aimed at ending three months of protests. Voice TV had also been found to have breached the Computer Crime Act by uploading "false information," digital ministry spokesman Putchapong Nodthaisong told reporters. Thailand has drawn criticism from rights groups for banning demonstrations and the publication of news seen as damaging by the government as it tries to end the protests against Prime Minister Prayuth Chan-ocha and the powerful monarchy.
Donald Trump has frustrated and enraged China during a tumultuous first term, but Beijing may welcome his re-election as it scans the horizon for the decline of its superpower rival.
Coronavirus: Burnham condemns late-night ultimatum to Greater Manchester. Region’s mayor to meet local leaders as minister’s noon deadline to agree to tier 3 curbs approaches
Asian shares were mixed Tuesday, after Wall Street's overnight decline as hopes faded Washington will come through with badly needed aid for the U.S. economy before the U.S. presidential election. Investors have been focusing on U.S. economic stimulus amid global uncertainty about the continuing economic fallout from the coronavirus pandemic, which has slammed growth with social distancing restrictions, unemployment, crimped trade, as well as tourism and business closures. Japan's benchmark Nikkei 225 declined 0.4% to 23,567.04, while South Korea's Kospi recouped earlier losses, gaining 0.3% to 2,353.86.
Conservation charity says ‘ghost gear’ is damaging sea habitats and killing wildlife