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Archive - 2021-01-26
UK passes 100,000 COVID deaths
Europe

UK passes 100,000 COVID deaths

  • The death toll in Britain from the coronavirus pandemic passed 100,000 people on Tuesday as the government battled to speed up vaccination delivery and keep variants of the virus at bay.
  • Britain has the world’s fifth highest toll from COVID-19 and reported a further 1,631 deaths and 20,089 cases on Tuesday.
Published 26 Jan, 2021 10:57pm
Vaccine concerns divide nations at Davos
Europe

Vaccine concerns divide nations at Davos

  • The Commission is demanding answers from British-Swedish group AstraZeneca and US company Pfizer about delays both have announced to their deliveries to the European Union.
Published 26 Jan, 2021 09:23pm
Stocks rise on earnings boost; US Treasury yields lower
Stocks

Stocks rise on earnings boost; US Treasury yields lower

  • Dow Jones Industrial Average rose 30.53 points, or 0.1%, to 30,990.53, the S&P 500 lost 1.52 points.
  • Europe's broad FTSEurofirst 300 index added 0.79%, at 1,575.88. The pan-European STOXX 600 was up 0.8% after Swiss wealth manager UBS posted a surge in quarterly net profit.
Published 26 Jan, 2021 09:06pm
Russian low price goods network Fix Price aims for $1bn IPO
Stocks

Russian low price goods network Fix Price aims for $1bn IPO

  • Fix Price, which sells goods in walk-in shops and online at fixed prices, has grown in popularity as the COVID-19 pandemic has reduced many Russians' spending power.
  • In a statement to Reuters, Fix Price said that it is considering different "strategic development options.
Published 26 Jan, 2021 09:05pm
GAVI seeks political support for COVAX as bilateral vaccine deals grow
Companies

GAVI seeks political support for COVAX as bilateral vaccine deals grow

  • Our hope is this will lead to consensus to keep vast majority of work done through multilateral mechanisms and not bilateral. We have no ability to stop those bilateral mechanisms.
  • Covax has two price points for the Astrazeneca vaccine, $3 and $4 a dose, depending on the country, he said.
Published 26 Jan, 2021 09:01pm
IEA launches global group to tackle fallout from energy transition
Energy

IEA launches global group to tackle fallout from energy transition

  • The commission, chaired by Denmark, will include energy ministers from Canada, Norway, Mexico and Oman.
  • We believe the real success of this transition is critically hinging on whether or not citizens will benefit from the opportunities and how we navigate the disruptions of clean energy transitions.
Published 26 Jan, 2021 08:59pm
Saudi Aramco may sell more shares if market is right
Companies

Saudi Aramco may sell more shares if market is right

  • The Saudi government sold more than 1.7% of Aramco in a 2019 initial public offering that raised a record $29.4 billion.
  • The PIF, whose holdings include a stake in Uber, plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025.
Published 26 Jan, 2021 08:58pm
Rebound in risk sentiment pulls sterling higher
Forex

Rebound in risk sentiment pulls sterling higher

*The pound fell in early trade after risk sentiment ebbed overnight in US and Asian markets. * sterling was up 0.3% against the dollar at $1.3720 and was also up 0.3% against the euro, at 88.60 pence.
Published 26 Jan, 2021 08:55pm
IMF cuts Britain's 2021 growth outlook after COVID surge
Europe

IMF cuts Britain's 2021 growth outlook after COVID surge

  • The IMF was slightly more optimistic than in its last set of forecasts in October, upgrading the outlook for global growth in 2021 by 0.3 percentage points to 5.5%.
  • The IMF estimates Britain was the worst-hit of the world's seven largest advanced economies last year, suffering a 10.0% decline in output.
Published 26 Jan, 2021 08:48pm
PML-N MPA meets CM
Pakistan

PML-N MPA meets CM

  • Nishat said that Usman Buzdar always gave respect and listened to problems and took a personal interest in the solution of public problems.
Published 26 Jan, 2021 08:47pm
HSBC CEO says cannot 'judge motives' of Hong Kong police over frozen accounts
South Asia

HSBC CEO says cannot 'judge motives' of Hong Kong police over frozen accounts

  • The HSBC CEO's summons to face the cross-party Foreign Affairs Committee came after former Hong Kong lawmaker Ted Hui criticised HSBC for blocking his local bank accounts.
  • "I can't cherry-pick which laws to follow," Quinn said, adding that the bank would have to comply with police requests in any country in the world.
Published 26 Jan, 2021 08:43pm
TSX falls as materials drag, stimulus concerns weigh
Stocks

TSX falls as materials drag, stimulus concerns weigh

  • The Toronto Stock Exchange's S&P/TSX composite index was down 20.27 points, or 0.11%, at 17,885.75.
  • The energy sector climbed 0.5% as US crude prices were up 0.4% a barrel, while Brent crude added 0.6%.
Published 26 Jan, 2021 08:42pm
House Democrats deliver Trump impeachment charge to Senate
USA

House Democrats deliver Trump impeachment charge to Senate

  • he U.S. House of Representatives delivered to the Senate on Monday a charge that former President Donald Trump incited insurrection in a speech to supporters before the deadly attack on the Capitol.
  • Trump, a Republican, is the only U.S. president to have been impeached by the House twice and is set to become the first to face trial after leaving office. His term ended last Wednesday.
Published 26 Jan, 2021 08:24pm
Mexico eyes delivery of Russian Sputnik V vaccine next week
Companies

Mexico eyes delivery of Russian Sputnik V vaccine next week

  • Ferrer said the finishing touches were being put on the contract for the deal, and that it could be signed on Tuesday.
  • Mexico is trying to secure as much vaccine supply as possible amid delays of some products and has said it plans to administer 7.4 million doses of Sputnik V through March.
Published 26 Jan, 2021 08:37pm
LME adds Grafton to its list of approved warehouse firms
Commodities

LME adds Grafton to its list of approved warehouse firms

  • The last warehouse company to be approved by the LME was Edgemere Terminals in August 2018, the LME said.
  • LME-registered warehouses also issue LME warrants, or title documents, through their London agents for material delivered into their approved warehouses.
Published 26 Jan, 2021 08:31pm
Italy PM tenders resignation: president
Europe

Italy PM tenders resignation: president

  • Conte is expected to seek a new mandate for what would be his third consecutive government in three years, but this depends on his ability to expand his parliamentary majority.
Published 26 Jan, 2021 08:20pm
AmEx beats profit estimates on higher spending, reserve release
Companies

AmEx beats profit estimates on higher spending, reserve release

  • Today, my confidence in our growth potential over the medium and long term is strong. While we remain cautious about the pace of recovery.
  • Total revenue, excluding interest expense, fell 18% to $9.35 billion, with spending on AmEx's cards for travel and entertainment declining 65% in the fourth quarter.
Published 26 Jan, 2021 08:17pm
Iran urges Biden to lift sanctions affecting medicines as it fights COVID-19
South Asia

Iran urges Biden to lift sanctions affecting medicines as it fights COVID-19

  • Tehran also said it had approved Russia's Sputnik V coronavirus vaccine for domestic use, and that it was trying to buy vaccines from AstraZeneca and other companies.
  • He also threatened that Iran would block short-notice inspections of Iran's nuclear facilities by the United Nations atomic agency if Washington did not lift sanctions.
Published 26 Jan, 2021 07:55pm
Johnson & Johnson promises 2021 profit jump, vaccine data ‘soon’
Companies

Johnson & Johnson promises 2021 profit jump, vaccine data ‘soon’

  • Separately, J&J chief financial officer told CNBC that the company was expecting data sometime next week and was optimistic that it would be robust.
  • The company's fourth-quarter profit fell 56.7% to $1.74 billion after recording litigation expenses of $2.9 billion in the fourth quarter.
Published 26 Jan, 2021 07:53pm
Pakistan put South Africa in a spin, but tourists fight back in first test
Sports

Pakistan put South Africa in a spin, but tourists fight back in first test

  • Azhar Ali and Fawad Alam were both not out on 5 and will resume on the second morning on a wicket already producing both turn and variable bounce.
  • In a major blow for the home side, captain Babar Azam (7) was trapped leg before wicket by spinner Keshav Maharaj just before the close of play.
Published 26 Jan, 2021 07:49pm
Safety first, but officials look to get Badosa training equipment
Sports

Safety first, but officials look to get Badosa training equipment

  • The 23-year-old on Monday described her extended period of quarantine as the "worst experience" of her career.
  • Our priority is supporting the health and wellbeing of those in our care and reducing the risk of transmission to protect staff and community safety.
Published 26 Jan, 2021 07:44pm
Expected rise in 2021 US restaurant sales not enough to offset pandemic losses: report
USA

Expected rise in 2021 US restaurant sales not enough to offset pandemic losses: report

  • Sales for the hard-hit industry fell nearly 24% in 2020 to $659 billion from $864.3 billion the year before, according to the National Restaurant Association's report.
  • Of those closed permanently, many were neighborhood fixtures. The majority had been open for 16 years on average, and 16% had been in business for at least 30 years.
Published 26 Jan, 2021 07:41pm
Saudi economy forecast to grow 2.6pc this year: IMF
Middle East

Saudi economy forecast to grow 2.6pc this year: IMF

  • Saudi Arabia itself has estimated its economy could swing back to growth of 3.2% this year after a 3.7% contraction in 2020.
  • The IMF said that multiple vaccine approvals and the launch of vaccinations in some countries in December had boosted hopes of an eventual end to the pandemic.
Published 26 Jan, 2021 07:35pm
Merkel hopes to step up work on digital tax with Biden administration
Europe

Merkel hopes to step up work on digital tax with Biden administration

  • I hope that with the new American administration we can now continue and intensify the work of the OECD on the minimum taxation of digital companies.
  • She added that she hoped "that we will succeed in once again anchoring the central role of competition law globally and preventing the emergence of monopolies."
Published 26 Jan, 2021 07:25pm
UK sells arms to 80% of countries under restrictions: Report
Europe

UK sells arms to 80% of countries under restrictions: Report

  • British officials have approved the sale of arms to nearly four-fifths of countries subject to arms embargos, sanctions and other restrictions, over the past five years.
  • The United Kingdom has exported military hardware to 58 countries, out of 73 listed as subject to restrictions by the Department for International Trade, including Pakistan, Kenya and China.
Updated 26 Jan, 2021 07:27pm
NextEra Energy posts loss on pipeline write down
Energy

NextEra Energy posts loss on pipeline write down

  • Mountain Valley pipeline in the United States is one of the several oil and gas pipes delayed in recent years by regulatory.
  • NextEra posted a net loss of $5 million in the three months ended Dec. 31, compared with an income of $975 million a year ago.
Published 26 Jan, 2021 07:13pm
BT Italy false accounting trial to resume in April
Companies

BT Italy false accounting trial to resume in April

  • In a short hearing on Tuesday morning, the court went through formalities such as verifying the legal representatives of the defendants.
  • BT took a 530 million pound ($725 million) charge in its accounts in 2017 relating to the alleged false accounting.
Published 26 Jan, 2021 07:11pm
Tunisian protesters gather at parliament
Middle East

Tunisian protesters gather at parliament

  • The government that only uses police to protect itself from the people - it has no more legitimacy.
  • In parliament, Prime Minister Hichem Mechichi proposed a new cabinet, a move President Kais Saied had on Monday rejected as unconstitutional.
Published 26 Jan, 2021 07:08pm
Lockheed Martin misses profit estimates on lower F-35 deliveries
Companies

Lockheed Martin misses profit estimates on lower F-35 deliveries

  • Shares of the company fell 1.2% in premarket trading, after the company said fourth-quarter deliveries of its F-35 jets fell 17.6% from 51 jets a year earlier.
  • Lockheed forecast full-year earnings for 2021 to be in the range of $26.00 to $26.30 per share, above analysts' average expectation of $26.13 per share.
Published 26 Jan, 2021 07:02pm
Britain is confident of COVID-19 vaccine supplies
Europe

Britain is confident of COVID-19 vaccine supplies

  • We continue to work closely with our suppliers and ... we are confident of our supplies.
  • We continue to vaccinate hundreds of thousands of people per day and we will continue to roll out the vaccination programme throughout this month and next month.
Published 26 Jan, 2021 07:00pm
Aviva sets February deadlines for $6.6bn disposals in France and Poland
Companies

Aviva sets February deadlines for $6.6bn disposals in France and Poland

  • The London-based insurer, led by boss Amanda Blanc, is expected to sell its French business for about 3.5 billion euros while the Polish operations are valued at roughly 2 billion euros.
  • Aviva declined to comment on the sale but confirmed it was exploring strategic options across its portfolio.
Published 26 Jan, 2021 06:54pm
Kazakhstan has restored oil output after power outages
Energy

Kazakhstan has restored oil output after power outages

  • Daily oil production was restored to 227,200 tonnes on Jan. 25 from about 195,700 tonnes on Jan. 21 and 182,774 tonnes on Jan. 20.
  • Still, production this month lags plans by around 660,000 tonnes, a source familiar with the data said.
Published 26 Jan, 2021 06:41pm
US natgas futures rise 2pc to a 1-week high on colder forecasts
Energy

US natgas futures rise 2pc to a 1-week high on colder forecasts

  • On its second to last day as the front-month, gas futures for February delivery rose 5.2 cents, or 2.0%, to $2.654 per million British thermal units.
  • At-the-money implied volatility for the futures, a determinant of an option's premium, fell to 45.2%, its lowest since March.
Published 26 Jan, 2021 06:37pm
Raytheon posts better-than-expected profit and sales, shares jump
Companies

Raytheon posts better-than-expected profit and sales, shares jump

  • Shares of the company rose 2.7% in premarket trading after the company said its free cash flow could almost double to $4.5 billion in 2021.
  • The company provided a full-year revenue outlook of about $63.4 billion to $65.4 billion which was below analysts' estimate of revenue of about $67.28 billion.
Published 26 Jan, 2021 06:35pm
WHO issues new clinical advice on treating COVID-19 patients
Europe

WHO issues new clinical advice on treating COVID-19 patients

  • The other things in the guidance that are new are that COVID-19 patients at home should have the use of pulse oximetry.
  • The WHO advised clinicians to put patients into the awake prone position, on their front, shown to improve the oxygen flow, she said.
Published 26 Jan, 2021 06:06pm
Over 1,000 patients treated in free medical camp
Pakistan

Over 1,000 patients treated in free medical camp

  • Former MPA Mehtab Akbar Rashdi says women, children need special attention.
  • The doctors and medical experts carried physical examination of patients suffering from Hypertension, Diabetes Mellitus, Breast Cancer and Tuberculosis.
Updated 26 Jan, 2021 06:00pm
China tells big cities to cool overheating property market
Business & Finance

China tells big cities to cool overheating property market

  • During a visit to Shanghai and Shenzhen to inspect property markets, Ni Hong said city governments should uphold the principle that "homes are for living in,
  • Cities should act promptly and take targeted measures to guide expectations and curb property market speculations, Ni said.
Published 26 Jan, 2021 05:27pm
China's Didi raises $1.5bn for freight unit
Companies

China's Didi raises $1.5bn for freight unit

  • The funding, the unit's first round, was led by investors including Singapore state investor Temasek Holdings, CPE and IDG Capital, said the source, who declined to be named as the issue is not public.
  • The on-demand logistics services sector in China however is considered to be a crowded market, with Manbang, Huolala and Kuaigou as market leaders.
Published 26 Jan, 2021 05:12pm
Pakistan likely to receive Pfizer-BioNTech vaccine under COVAX programme
Pakistan

Pakistan likely to receive Pfizer-BioNTech vaccine under COVAX programme

  • The WHO signed an advance purchase agreement with the American pharmaceutical, where it will receive at least 40 million doses of the drug.
  • It also anticipates another 50 million doses from UK-based pharmaceutical Oxford-Astrazeneca. As per the existing agreement with the company, the shipment will be made in first quarter of the year.
Published 26 Jan, 2021 05:09pm
Johnson & Johnson promises vaccine data ‘soon’
Companies

Johnson & Johnson promises vaccine data ‘soon’

*Data from Johnson & Johnson's single-dose COVID-19 shot is expected this month, with global hopes to battle the virus riding on multiple vaccines to ensure adequate supply. * In the latest setback to the effort, rival Merck & Co said on Monday it was discontinuing development of both its COVID-19 vaccines.
Published 26 Jan, 2021 05:02pm
Investindustrial studies sale of luxury shoemaker Sergio Rossi
Companies

Investindustrial studies sale of luxury shoemaker Sergio Rossi

  • Famous for the craftsmanship behind its shoes, which can sell for 600 euros ($728) a pair, Sergio Rossi, like other brands that rose to fame in post-war Italy.
  • The shoe sector has attracted investor interest. Private equity firm CVC is in talks to buy sandals maker Birkenstock.
Published 26 Jan, 2021 04:56pm
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