Akin Akman - AARMY Co-Founder, joined Yahoo Finance to discuss the future of the boutique fitness industry.
Akin Akman - AARMY Co-Founder, joined Yahoo Finance to discuss the future of the boutique fitness industry.
The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of 9F Inc. (JFU) Investors
(Bloomberg) -- The parent company of online luxury retailer Mytheresa climbed 19% in its U.S. trading debut after a $407 million initial public offering priced at the top of its marketed range.Shares of MYT Netherlands Parent BV, which rose as much as 39% in New York trading, closed Thursday at $31, giving the German e-commerce company a market value of about $2.66 billion.The pandemic has been a mixed blessing to internet retailers, Mytheresa Chief Executive Officer Michael Kliger said in an interview. While the outbreak has disrupted supply chains, the lockdowns imposed across Europe have encouraged more people to shop online.“Our logic has always been to focus on our core customers, the true luxury customer and we try and understand what else this customer may want and find exciting,” Kliger said. “It’s not about a different direction, but about becoming more relevant for our customers. That’s why we added activewear and skiwear, kidswear and menswear.”Mytheresa, which specializes in women’s clothing and accessories, carries more than 250 brands including Gucci, Prada and Givenchy and has customers in more than 140 countries, according to its website.Growth GoalThe company reported net income of 6.35 million euros ($7.7 million) on net sales of 450 million euros for the year ended June 30, according to its filings with the U.S,. Securities and Exchange Commission. It’s aiming for revenue growth of 22% to 25% a year, Kliger said. Mytheresa wants to keep earnings before interest. taxes, depreciation and amortization as a proportion of revenue at about 8%.In its IPO Wednesday, the company sold 13.65 million American depositary shares for $26 each after marketing them for $24 to $26. It had elevated the price range on Monday from $16 to $18. The IPO included 2 million additional shares from a selling shareholder. Each ADS represents one ordinary share.The offering was led by Morgan Stanley and JPMorgan Chase & Co. The shares are trading on the New York Stock Exchange under the symbol MYTE.Bavarian RootsMytheresa traces its roots back more than 30 years to a luxury boutique in Munich. In 2006, it launched a small e-commerce business and has now has more than 700 employees.Its rivals include Richemont’s Yoox Net-a-Porter unit and Apax Partners Inc.’s Matchesfashion Ltd.(Updates with closing share price in second paragraph)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.
The United Nations Libya mission said on Thursday that nominations for leadership of a new unified transitional government must be made within a week and voting on candidates would take place in early February. Libya has been divided since 2014 between rival administrations in the capital Tripoli, in the west, and in the country's east. The UN in November gathered 75 Libyan participants in a political dialogue in Tunis aimed at setting a roadmap to national elections that they set for late December.
Jeff Stotts of RotoWire delivers some deep injury analysis for fantasy basketball players.
SAN DIEGO — In the days before Joe Biden became president, construction crews worked quickly to finish Donald Trump’s wall at an iconic cross-border park overlooking the Pacific Ocean, which then-first lady Pat Nixon inaugurated in 1971 as symbol of international friendship. Biden on Wednesday ordered a “pause” on all wall construction within a week, one of 17 executive orders issued on his first day in office, including six dealing with immigration. The order leaves projects throughout the border unfinished — but still under contract — after Trump worked feverishly last year to build 450 miles (720 kilometres), a goal he said he achieved eight days before leaving office. The Trump administration said it had identified $15 billion to reach a total of 738 miles (1,181 kilometres), but it is unclear how many of those additional miles are under contract and what cancellation fees Biden would face to fulfil his pledge to not build “another foot.” Biden ordered answers within two months on how much the government committed, how much it would cost to extricate itself and whether contracts could be repurposed for other uses. The White House had no immediate comment Thursday, but given the lack of communication between Trump aides and Biden's transition team, quick answers may prove elusive. “It is remarkably opaque,” said Dror Ladin, an attorney for the American Civil Liberties Union who's scheduled to argue before the U.S. Supreme Court next month that it was illegal for Trump to divert billions of dollars from the Defence Department to build the wall. John Kurc, an activist who posts videos of dynamite blasts by wall construction crews, said he saw one dynamite charge being set Wednesday afternoon in Guadalupe Canyon in easternmost Arizona, even as the inauguration was playing out in Washington. Heavy machines have been crawling over roadways gouged into rocky mountainsides, tapping open holes for posts on U.S. Bureau of Land Management property. In Texas' Rio Grande Valley, the busiest area for illegal crossings, advocates for the Texas Civil Rights Project saw idle trucks and construction equipment Thursday, though rain may explain the lack of activity. In San Diego, crews were out Thursday replacing a steel fence with imposing, tightly spaced poles topped with flat steel plates rising 30 feet (9 metres), said Dan Watman of Friends of Friendship Park, a group that promotes public access to the cross-border park overlooking the Pacific Ocean. Contractors began last week, said Watman, who was informed of the project in a December conference call with Border Patrol agents but got no explanation for it. The agency referred questions to the White House. Trump said the border wall would be “virtually impenetrable” and paid for by Mexico, which never happened. While the wall is much more formidable than the barriers it replaced, it isn't uncommon for smugglers to guide people over or through it. Portions can be sawed with power tools sold at home improvement stores. Despite Trump's bravado, Border Patrol officials have said the wall was never meant to stop everyone but rather to slow their advance. Jose Edgar Zuleta, whose business selling religious jewelry in the Mexican city of Puebla dried up during the coronavirus pandemic, cleared two walls in Friendship Park in October with a special ladder. He moved through brush in a heavily patrolled area for about half an hour before getting caught. His 21-year-old son, who went ahead of him, got picked up hours later. Zuleta agreed to pay smugglers $19,000 for him and his son but only if they made it to the U.S., where they hoped to work as landscapers in Southern California. He returned home to his wife and mother and may try again. The cross-border park has hosted yoga classes, concerts and countless news conferences, including one in 2018 with then-Attorney General Jeff Sessions to announce a “zero tolerance” policy that caused thousands of children to be separated from their parents at the border. An old bullfighting ring and ocean-view restaurants surround the Mexican side; wetland scrub stretches into the United States. Years ago, people passed baked goods, kissed and shook hands through a chain-link fence. Watman remembers passing tools back and forth in 2007 to plant a cross-border garden that still stands. Since 2012, after construction of a double wall at the park, the Border Patrol has opened a gate many weekends for up to 10 people at a time to exchange words with those in Mexico. The latest sprint of construction there is part of a $101 million contract to SLSCO Ltd. to build 14 miles (22 kilometres) in San Diego with Homeland Security appropriations. SLSCO, based in Galveston, Texas, didn't immediately respond to a request for comment Thursday. At issue before the Supreme Court on Feb. 22 is billions of dollars that plaintiffs say was wrongly transferred from the Defence Department after Congress denied the money that Trump sought, triggering a 35-day government shutdown in 2017. It is unclear if Biden will adopt Trump's position before the Supreme Court. The government's brief is due Feb. 11. Mexican President Andrés Manuel López Obrador welcomed Biden’s decision to stop wall construction but, in defence of Trump, noted that U.S. presidents going back to 1990s built border barriers. He displayed a chart to prove his point. ___ Associated Press writers Nomaan Merchant in Houston, Anita Snow in Phoenix and Christopher Sherman in Mexico City contributed. Elliot Spagat, The Associated Press
Coaches understand before they sign employment contracts that they are hired to be fired, something that’s particularly true in the NFL where the only measure of success is a playoff slot at the end of the season. Lynn’s team went 7-9 this season and some of his head-scratching decisions late in games caused fans to lose their hair. The news Thursday that Philadelphia plans to hire Indianapolis offensive coordinator Nick Sirianni as the new head coach of the Eagles is the latest reminder of that.
Allianz Global Investors U.S. LLC ("AllianzGI U.S."), investment manager to AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (the "Fund"), announced today that effective February 1, 2021, Justin Kass, CFA, will become the lead portfolio manager of the Fund and will assume overall responsibility for coordination of the Fund’s portfolio – between equities, options and convertible securities – in addition to serving as a day-to-day portfolio manager of the Fund’s convertible securities sleeve. Jeffrey Parker, CFA, who has served as the lead portfolio manager of the Fund will no longer be a listed portfolio manager of the Fund. In addition, Kris Marca, CFA, will become a portfolio manager of the Fund with responsibility for its equity and option securities sleeves.
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2021) - CannaVerde Pharma Inc. ("CannaVerde" or the "Company"), a privately held Canadian medical cannabis company with operations in Colombia, is pleased to announce that it has entered into a binding letter of intent (the "LOI") to purchase 50% of the issued and outstanding shares of Medical Precision Care S.A.S. ("Medical Precision"), a master pharmacy exclusively focused on the research and development of cannabis-based pharmaceutical products ...
Miami Mayor Francis Suarez is hoping to establish his city as the next great tech hub.
Toronto Mayor John Tory has joined a chorus of Canadian politicians in urging Pfizer-Biotech to produce more COVID-19 vaccine. Tory followed Prime Minister Justin Trudeau and Ontario Premier Doug Ford, among others, in speaking directly to executives from the pharmaceutical multinational. Tory said he wanted to make a constructive case after the company said it would not be able to fulfil next week's order to the federal government. "The best way to go about these kinds of conversations is to make your case as a Canadian, which I did, and as the mayor of the largest city in the country, and to try to make Canada's case," Tory said. Trudeau has said he spoke to Pfizer on Tuesday and Ford said he was in contact with the pharmaceutical manufacturer on Wednesday. Tory said he knows members of Pfizer's management team from his previous career as a business executive, and that he reached out to them in concert with the federal government. "I'm trying to help the country's efforts to try to see if we can't get more supply," the mayor said. "I can't tell you what results my intervention, or anybody else's, will have." Toronto has had to shut down its two vaccination programs until the federal government provides more doses to the city's public health unit. An immunization clinic at the Metro Toronto Convention Centre closed after two days of inoculating front-line health care workers. The city also paused a pilot in shelters for people experiencing homelessness. Dr. Eileen De Villa, Toronto's chief medical officer, said everyone's frustrated with the shipping delay, because the vaccine offers people hope. "Having it slowed down and having the change in course is not what we wanted," De Villa said. "But we expect there will be eventually vaccine coming available and we'll do our very best." De Villa said there were 986 new cases of COVID-19 in Toronto on Thursday and 10 more deaths linked to the virus. The update included 102 cases from earlier in the week that had previously gone unreported because of a technical error. Councillor Joe Cressy, chairman of the Toronto Board of Health, joined Tory and De Villa at the Thursday afternoon news conference. All three detailed the city's ongoing efforts to support racialized communities that have been hit hardest by the pandemic. Toronto, Ontario Health, hospitals, and community health providers have been working to improve access to testing in those neighbourhoods. Toronto reports nearly 271 testing clinics have been booked in more than 20 different city-owned facilities, with 89 more dates to come in January at 12 different sites. This report by The Canadian Press was first published Jan. 21, 2021. John Chidley-Hill, The Canadian Press
Pence says he and his family will move back to Indiana, where he served as governor before becoming vice president
TORONTO — Residents of Ontario long-term care homes described the devastating impact of the prolonged isolation brought on by the second wave of the COVID-19 pandemic as they testified before an independent commission earlier this month. A group of residents spoke to the Long-Term Care COVID-19 Commission through video conference on Jan. 13, laying out the intense loneliness and deteriorating mental health experienced by them and their peers. Some characterized the conditions, which they said have kept them with minimal human contact for weeks or months at a time, as "inhumane." One resident identified as Maria S. said the home she lives in had no COVID-19 cases until November, but then the virus "spread like wildfire." The facility is separated into eight sections, each housing 25 people, and two of those sections had no cases at all, she said. Still, the entire facility was closed off and everyone had to isolate for at least eight weeks, she said. "You weren't able to talk to anybody, to see anyone... Through Christmas and New Year's, we sat in our rooms," with only one essential worker allowed, she told the commission. "It is inhumane to leave people in their rooms without any contact with anyone for that long a period of time," she said. "So it has been a long haul of loneliness and no interaction except with your staff, and again, that is limited interaction." Another resident, identified as Ann D., said she feels like she is "in jail," and has noticed a change in her fellow residents as well. "You can see the life is just draining out of their faces," she said. "Every day it is getting worse and worse... and they are just not the same person they were two weeks ago, and they are not the same as they were two months ago." Others described the cumulative harm of the pandemic over the last year, comparing themselves to animals locked up in cages. A resident identified as Robert K. said he lost 20 pounds after the "mental and physical isolation" robbed him of his appetite. Unable to see his wife due to "draconian" rules, and no longer able to read or write due to an eye condition, Robert said he is "very limited in recreational activities," particularly when volunteers aren't allowed in homes. "I feel like my brain is in a straight jacket," he said. "I feel like I want to break out, and I don't know how." Their testimony came after another group of residents appeared before the commission in the fall, urging the government to address the issue of isolation before the second wave of the pandemic took hold. The COVID-19 pandemic has carved a deadly path through Ontario's long-term care system, killing more than 3,250 residents and 10 staff members since the start of the global health crisis. The commission, led by Superior Court Associate Chief Justice Frank Marrocco, was convened to investigate how the virus spread in the system, and issue recommendations aimed at preventing similar outcomes in the future. It has heard that shortages in staff and personal protective equipment, as well as other factors, contributed to the outbreaks. Currently, 251 of the province's 626 long-term care homes are reporting an outbreak of COVID-19. Last year, the province loosened visitation rules a few months into the pandemic, but the commission has heard many homes continued with a lockdown. Additional restrictions were later imposed on homes in hot spot regions, limiting visitors to staff, essential visitors and caregivers. A directive issued earlier this month states that long-term care homes in regions designated as green or yellow under the province's pandemic management plan can allow caregivers and support workers who have had a negative PCR COVID-19 test in the past two weeks and attest to not testing positive later, or who have a negative antigen test the day of their visit. Homes in those regions can also admit visitors provided they meet the same criteria. Caregivers can visit facilities in regions deemed orange, red or grey zones if they have had a negative PCR test in the previous week, or a negative antigen test that day. But no visitors are otherwise allowed in homes in those regions. The province has rolled out vaccinations in long-term care homes, vowing to administer a first dose in all facilities by mid-February. The commission's hearings aren't open to the public but transcripts are posted online, typically in the days that follow. It is expected to submit its final report to the provincial government on April 30. This report by The Canadian Press was first published Jan. 21, 2020. Paola Loriggio, The Canadian Press
WASHINGTON — Dr. Anthony Fauci is back in the White House briefing room. Fauci, the nation’s leading infectious disease expert, was tasked by President Joe Biden to give an update on the coronavirus pandemic after largely being sidelined in recent months by former president Donald Trump. Fauci said the new administration would “be completely open and honest” in dealing with the pandemic and, in an implicit rebuke to the Trump administration, said everything now would be “based on science and evidence.” He also said in the Biden administration, the rule would be “if you don’t know the answer, don’t guess.” Fauci, who repeatedly attacked by Trump for breaking with his rosy view of the pandemic, provided an update on the new, more contagious strains of the virus, which has now claimed the lives of more than 400,000 Americans. ___ THE VIRUS OUTBREAK: President Joe Biden signs burst of coronavirus orders, requires masks for travel. US Chamber of Commerce supports Biden’s virus plan. Dr. Anthony Fauci vows full US engagement with WHO. Angela Merkel sees signs of coronavirus decline in Germany, but extends restrictions until Feb. 14. India sends 2 million doses of coronavirus vaccine to Bangladesh. __Follow all of AP’s pandemic coverage at https://apnews.com/hub/coronavirus-pandemic, https://apnews.com/hub/coronavirus-vaccine and https://apnews.com/UnderstandingtheOutbreak ___ HERE’S WHAT ELSE IS HAPPENING: COLUMBUS, Ohio — Gov. Mike DeWine announced Ohio will use $50 million in federal pandemic aid dollars to buy two million at-home rapid coronavirus tests to help local health departments respond faster to testing needs. The Republican governor also said the state’s 10 p.m. to 5 a.m. pandemic curfew, due to expire in a couple days, will be extended, though he didn’t provide details. Meanwhile, Lt. Gov Jon Husted said the state is wrestling with huge numbers of fraudulent unemployment claims being filed for federal pandemic aid. Husted said 1.4 million of those claims, nearly 800,000 have been flagged as fraudulent, including a claim someone made in Husted’s name. The at-home test kit deal involves a partnership between the state, Miami-based digital health company eMed and Chicago-based medical device company Abbott Laboratories. Users can administer the BinaxNow at-home rapid antigen tests with results available in about 15 minutes. A company spokesperson said users will receive online guidance to take the tests, and the results will be recorded with the Ohio Department of Health. Devine said local health departments have been asking for this type of rapid testing. ___ TOPEKA, Kan. — Kansas is shifting into the second phase of coronavirus immunizations as the Republican-led state House approved a bill that would extend the state’s pandemic emergency declaration. The 119-3 vote sends the bill to Gov. Laura Kelly, who has until Jan. 26 to act before the declaration expires. It expands the use of telemedicine and adds flexibility in health care licensing through March 31. But it also limits Kelly’s ability to close businesses and allows counties to opt out of mask mandates and other health orders she issues. The move comes as Kelly said communities can move beyond immunizing health care workers and long-term care residents. She urged patience in a news release, noting that the next phase includes about 1 million Kansans, including those ages 65 and older, prisoners and essential workers such as teachers and law enforcement officers. However, the next weekly shipment of vaccine from the federal government contains only about 45,000 new first doses. Kelly said local health departments, will decide how their limited supply of the doses will be allocated by population groups. ___ WASHINGTON — President Joe Biden is signing 10 executive orders aimed at combating the coronavirus pandemic, including one broadening the use of the Defence Production Act to expand vaccine production. Biden also signed an order Thursday mandating masks for travel, including in airports and planes, ships, trains, buses and public transportation, as well as one directing the Federal Emergency Management Agency to reimburse states for some costs related to their COVID-19 response and to provide funds to help reopen schools. Biden is ordering FEMA to begin setting up vaccination centres and the Centers for Disease Control and Prevention to begin a program to make vaccines available through local pharmacies starting next month. And he’s mobilizing the Public Health Service to deploy to assist localities in vaccinations. The administration is trying to provide 100 million vaccine injections during the first 100 days of Biden’s presidency, an initial step toward getting the country inoculated from the disease so that schools and businesses can fully reopen. ___ TORONTO — The leader of Canada’s most populous province says he isn’t buying the excuse from Pfizer about why Pfizer deferred all its COVID-19 vaccine deliveries to Canada next week. Ontario Premier Doug Ford says it unacceptable that other countries are getting the doses and Canada is not. Pfizer announced a temporary reduction in deliveries last Friday so it could upscale its Puurs, Belgium plant, which supplies all shots delivered outside the United States. Ford says that’s “crap” and says Pfizer is messing up. Governments in Europe also say the delay is costing critical time during the early stages of the rollout to care homes and hospital personnel. ___ MADRID — Spain posted a new daily record of 44,357 coronavirus infections. The Health Ministry reported 404 deaths on Thursday, increasing the confirmed total to 55,041 deaths and 2.5 million cases. The country’s 14-day average case rate rose to 796 per 100,000 inhabitants, up from 736 on Wednesday. Despite the numbers, government coronavirus expert Fernando Simón says the country could be reaching a plateau. But he says a decrease in new “hospitalizations and admissions to ICUs won’t be noticed for at least another week.” ICU bed occupancy by COVID-19 patients is at 36% nationally. Two regions, La Rioja and Valencia, have occupancy rates above 50%. ___ PARIS — France will require people wear higher quality face masks in public, a measure likely to render many home-made cloth masks obsolete. Government officials say the new rule will be published Friday to help slow the spread of a possibly more contagious variant of the coronavirus. The rule will require face masks worn in public approach the standard of surgical masks in their ability to filter out most tiny particles. Officials say most washable masks sold in French stores already meet the required standard. However, lower-quality homemade cloth masks are unlikely to make the grade. ___ BUENOS AIRES, Argentina — Argentine President Alberto Fernández was given the Russian Sputnik V vaccine for the coronavirus after local health authorities recommended its use for those 60 and older. The 64-year-old president was given a shot by a nurse at the Hospital Posadas in Buenos Aires, the capital. Fernández assured Argentines that the vaccine, which has been distributed to the public since Dec. 29, is safe. Argentine officials on Wednesday expanded their recommendation to cover vaccinating those 60 and older after receiving data from Russia indicating it was safe and effective for that group. Fernández will get a second dose after 21 days. ___ VILLA EL SALVADOR, Peru — The Peruvian government announced new oxygen-production equipment it says will assist hospitals across the country. Oxygen has become a scarce commodity in this city of more than 508,000 during a second wave of coronavirus infections. Most of the hospitals in Peru lack the equipment necessary to produce oxygen. The desperation has led some businesses to triple its price, forcing many to plunder their savings or sell belongings to afford it. While some are price gauging, others are stepping in to help. In Villa El Salvador, a group of 13 friends, among them engineers, economists and lawyers, pooled their savings to recently open an oxygen plant and offer lower prices. Peru has recorded more than 1 million confirmed cases and more than 39,000 deaths during the pandemic. ___ WASHINGTON — The largest business lobbying group in the U.S. is supporting President Joe Biden’s early moves to confront the coronavirus pandemic. The U.S. Chamber of Commerce chief policy officer Neil Bradley says Biden is correct in his assessment that controlling the coronavirus is the key to fully reopening the economy. “America must return to health before we can restore economic growth and get the 10 million Americans who lost their jobs in the last year back to work,” Bradley said. “We support the new administration’s focus on removing roadblocks to vaccinations and reopening schools, both of which are important steps to accelerating a broad-based economic recovery for all Americans.” Biden’s predecessor had put pressure on states to quickly reopen. The U.S. is facing its most deadly wave of the pandemic, with joblessness on the rise again. The U.S. Chamber is particularly influential with Republican Congressional lawmakers, who hold sway over Biden’s proposed $1.9 trillion coronavirus package. ___ JOHANNESBURG — South Africa’s president says Jackson Mthembu has died from the coronavirus, becoming the first cabinet minister to succumb to the disease. The 62-year-old Mthembu in recent months had been a central figure in communicating to the public the South African government’s response to COVID-19. In announcing the death Thursday, South African President Cyril Ramaphosa called Mthembu “an exemplary leader.” He tested positive on Jan. 11. Mthembu’s death comes as South Africa battles a second wave of the coronavirus that may be driven in part by a new variant of the coronavirus. ___ CHICAGO — Health researchers say young children need to be careful with alcohol-based hand sanitizer, especially dispensers at eye level. The researchers say they’ve seen more cases of children who got the substance in their eyes. Studies published Thursday in JAMA Ophthalmology detail cases in France and India, some resulting in eye pain and cornea ulcers that ultimately healed. But a few youngsters required eye surgery and researchers say risks include blindness. Many cases involved dispensers in public places. U.S. poison control centres also have had an increase in calls about kids exposed to hand sanitizers. While most resulted in little or no harm, the American Academy of Pediatrics notes the products should the kept out of young children’s reach. If a child does get sanitizer in their eyes, doctors advise washing the eyes with warm water and having the youngster get an eye exam to make sure there is no damage. ___ MONTGOMERY, Ala. — Alabama Gov. Kay Ivey is extending a statewide order requiring face masks in public to help slow the spread of the coronavirus. Ivey announced the decision at the state capitol on Thursday. The new order means the rule will remain in place through March 5. Medical officials had urged Ivey to extend the order amid the rollout of COVID-19 vaccinations, which have been hindered by a limited national supply. The state of nearly 5 million people has had 446,000 vaccine doses delivered and administered 184,000 doses. There’s been about 430,000 confirmed cases and more than 62,000 deaths from the coronavirus in Alabama. ___ PHOENIX — Arizona, the state with the worst coronavirus diagnosis rate in the country, reported nearly 9,400 confirmed cases on Thursday. The Department of Health Services reported 9,398 cases and 244 confirmed deaths, increasing the state’s pandemic totals to 699,942 cases and 11,772 deaths. According to the state’s coronavirus dashboard, there were 4,580 hospitalized COVID-19 patients occupying inpatient beds on Wednesday, down from the Jan. 11 record of 5,082. One in 147 Arizona residents was diagnosed with the coronavirus from Jan. 13 to Wednesday. South Carolina was close behind at one in 148. Arizona’s seven-day rolling average of daily new cases declined from 8,884 on Jan. 6 to 6,973 on Wednesday. The rolling average of daily deaths rose from 103 to 142 during the same period. That’s according to data from Johns Hopkins University and The COVID Tracking Project. ___ BEIRUT — Lebanon has extended a nationwide lockdown to Feb. 8 amid a rise in coronavirus infections and deaths that has overwhelmed the health care system. The lockdown had been scheduled to end Feb. 1. Hospitals in Lebanon have registered a 91% occupancy of ICU beds. Deaths have surpassed 2,000, with between 40 to 60 daily deaths this week. The national health committee had recommended a two-week extension. But the government decided to keep the lockdown, in place since Jan. 14, until Feb. 8. ___ The Associated Press
(Bloomberg) -- Bitcoin closed in on the lowest in three weeks as the cryptocurrency’s sizzling rally gives way to pessimism that prices are too high.Bitcoin tumbled as much as 11.3% Thursday, sliding below $31,000. The largest digital asset has trended lower ever since breaking through $40,000, and losses have accelerated in the past two days.While soaring crypto prices fueled a speculative mania among the Robinhood crowd, it’s also made professional investors reluctant to buy at the top. Prices are still more than double the levels from early November and some technical analysts have argued that a retracement is overdue. It last traded below $30,000 on Jan. 5.“Bitcoin has already achieved the fastest-ever price appreciation of any must-have asset,” wrote JPMorgan Chase & Co. strategists John Normand and Federico Manicardi in a report on Thursday. “Current prices are so far above production costs that mean-reversion lower in returns is a recurring concern.”Bitcoin was down 10% to $31,459 as of 4:51 p.m. in New York. Prices are on track for their first back-to-back weekly decline since early October.Adding to the anxiety, a report in a trade blog suggested that there had been what’s known as a double purchase, where the same “coin” is used in two separate transactions. Industry veterans downplayed the notion.“This is part of the normal operation of the blockchain to allow for a highly parallel system,” said Jacob Illum, chief scientist at researcher Chainalysis. “Occasionally, the Bitcoin blockchain will have competing mined blocks, but only one chain-forming from competing blocks will be accepted by the network.”However, should a double spending event actually occur, it would be a cause for concern in the market, according to Edward Moya, senior market analyst at Oanda.Chart patterns suggest the market is consolidating within a “bullish pennant” formation, according to Matthew Weller, head of research at Gain Capital Group LLC. A sharp move higher could push prices above $50,000, while a break lower would point to a deeper retracement below $30,000, he predicted.“It would likely take a more severe drop to erase the established uptrend,” Weller wrote in a note.Despite the selloff, Wall Street hasn’t lost interest in the new asset class. On Wednesday, BlackRock Inc. filed paperwork to add Bitcoin futures as an eligible investment in two funds, the first time the money manager is offering clients exposure to cryptocurrency.Read More: BlackRock Takes First Step Into Crypto Exposure in Two Funds(Updates prices.)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.
If there's one thing we love, it's a good sale.
(Bloomberg) -- The Port Authority of New York & New Jersey released a new plan to replace its neglected, overcrowded midtown bus terminal, more than seven years after the transit agency first sought proposals to overhaul it.Replacing the decaying depot, which opened in 1950 and was expanded in 1981, will take a decade at least and billions of dollars, Port Authority officials said. The new five-story terminal will be able to handle almost 40% more passengers. It will provide storage space for buses, curbing traffic congestion and pollution and gates to accommodate inter-city coaches that previously picked up and dropped off passengers on city streets.The bi-state agency plans to fund the project with $3 billion in its current capital plan and the sale of air rights for as many as four new high rise towers, officials said. The agency will also seek federal aid and an agreement from the city to allow a developer to use payments in lieu of taxes to help finance the project, much like the new Moynihan Train Hall railway station.“It’s way past time that this building be replaced,” said Port Authority Executive Director Rick Cotton.On busy days before the Coronavirus pandemic, 260,000 commuters walked the bus station’s bleak corridors, where missing ceiling panels revealed leaky pipes. Comedian John Oliver called the bus terminal the “Single Worst Place on Planet Earth.”Plans to replace the bus terminal were delayed by design challenges and disputes between New York Governor Andrew Cuomo and former New Jersey Governor Chris Christie over where to build and how much to spend.In 2016, New York’s top appointee to the Port Authority wanted to build a replacement next to the NJ Transit station in Secaucus, New Jersey. Scott Rechler, the appointee, retreated after John Degnan, appointed by Christie, said he wouldn’t support the LaGuardia Airport redevelopment.The Port Authority reviewed more than 30 sites for the bus terminal and consulted with riders and residents, who were aggravated by the congestion and pollution from the buses. Without a place to park, motor coaches circled the streets awaiting their turn to get into the terminal or idled on city streets, spewing diesel fumes.The new terminal will be designed to serve electric bus fleets and employ technology to speed bus movements, officials said. New bus ramps between 10th and 11th Avenues will enable direct access from the Lincoln Tunnel.Construction will be staged to minimize disruption to existing terminal operations and coordinated with other Port Authority projects at the Lincoln and Holland tunnels and George Washington Bridge.(Adds electric bus fleet capacity in 9th paragraph. A previous version of this story incorrectly stated the capacity of the new building.)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.
JASPER, Ind., Jan. 21, 2021 (GLOBE NEWSWIRE) -- Kimball Electronics, Inc. (Nasdaq: KE) will announce its second quarter fiscal year 2021 financial results on Wednesday, February 3, 2021 after the closing of the market. The company will hold a conference call and live webcast to review the results on Thursday, February 4, 2021, at 10:00 a.m. Eastern Time. The telephone number to access the conference call is 800-992-4934 or internationally at 937-502-2251. Please reference conference ID 7896947. The live webcast of the conference call can be accessed at investors.kimballelectronics.com/events-presentations. For those unable to participate in the live webcast, the call will be archived at investors.kimballelectronics.com/events-presentations. About Kimball Electronics, Inc.Kimball Electronics is a multifaceted manufacturing solutions provider of electronics and diversified contract manufacturing services to customers around the world. From our operations in the United States, China, India, Japan, Mexico, Poland, Romania, Thailand, and Vietnam, our teams are proud to provide manufacturing services for a variety of industries. Recognized for a reputation of excellence, we are committed to a high-performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball Electronics, Inc. (Nasdaq: KE) is headquartered in Jasper, Indiana. To learn more about Kimball Electronics, visit: www.kimballelectronics.com. Lasting relationships. Global success. CONTACT:Adam W. SmithTreasurerTelephone: 812.634.4000E-mail: Investor.Relations@kimballelectronics.com
Jeff Katz obituaryCorporate investigator who rejected dubious tactics and agents to shine a light on foul play
Council in Pitt Meadows, B.C., wants Canadian Pacific Railway to pay more local taxes to better reflect the impact its operations have on the city's residents. On Tuesday night, council voted to direct staff to kick off a push to have the tax classification changed for the railway, which cuts right through the middle of the city and creates noise and pollution, according to the mayor. It's the start of a long lobbying effort that will have to go through the Lower Mainland Local Government Association before it's taken to the Union of B.C. Municipalities and finally the B.C. government. City officials say it would increase the taxes CP Railway pays Pitt Meadows from the 2020 total of about $1.7 million to more than $2.1 million. If council is ultimately successful, the impact would not be limited to Pitt Meadows — the change would take effect across the province, meaning any municipality with railroads and railway operations would receive more tax revenue from rail companies. Railways are currently given a tax classification of Class 6, which is described as "business and other" and mostly covers properties like offices and retail space. Pitt Meadows council wants to have that changed to Class 5, which is light industrial. The impacts of the railway in Pitt Meadows, according to Mayor Bill Dingwall, include diesel particulate, noise and vibrations affecting residential neighbourhoods, and loud bangs from train cars coupling along the tracks — all of which he considers inconsistent with the current classification. He said the company runs about 45 trains through Pitt Meadows each day, and about 1,000 trucks access the large intermodal facility near the Pitt River, where goods are loaded and unloaded. He said the operation continues 24 hours a day and seven days a week. "If you look at the impacts of rail going through your community — it's not the same as a dentist," Dingwall said. Proposed railway expansion The railway's tax rate recently caught council's attention when the company proposed a major expansion in Pitt Meadows on about 100 acres of agricultural land it had purchased to the south of its intermodal facility. Dingwall said the entire council and many members of the community are opposed to the expansion, which would include grain silos and fuel storage — both considered a high hazard, especially for a city without a full time fire department. If the railway's tax rate is changed to Class 5, the annual taxes on the proposed facility would increase by about $660,000. Dingwall said the council is unanimously behind a separate plan involving the railway — a $141 million project to build road crossings that wouldn't be interrupted by regular trains. CBC News has contacted CP Railway for a reaction to the council's vote. Do you have more to add to this story? Email email@example.com Follow Rafferty Baker on Twitter: @raffertybaker
Rod Brind'Amour lamented Carolina's season coming to a screeching halt despite doing “a great job” adhering to pandemic protocols. For Peter Laviolette, his Washington Capitals will keep playing for the next week without four prominent players who broke the rules. Each team is getting punished in a different way after being affected by the virus. The Hurricanes had games postponed through at least Saturday and won't get to practice in person with a handful of players on the COVID-19 list. There's no indication the Capitals are being shut down, though they will have to play the next four games without captain Alex Ovechkin, No. 1 centre Evgeny Kuznetsov, top-four defenceman Dmitry Orlov and starting goaltender Ilya Samsonov. “We totally understand why the rules are in place, and there’s no arguing with that,” said Laviolette, who's in his first season as Washington's coach. “We knew the rules. We’re not sitting here saying that we were uninformed or we weren’t aware. We need to do a better job.” The NHL fined the Capitals $100,000 for breaking protocol by having those four players in a hotel room together with none of them wearing a mask. Laviolette said there was a positive test result, which led to contact tracing, and Washington will be forced to ice a patchwork lineup for its home opener Friday night against Buffalo. There's no hard and fast timeframe for how long a player who tests positive or has potential exposure must be out. The NHL defers to local authorities, and the minimum four games for the Capitals players relates to the District of Columbia's quarantine regulations. After Ovechkin expressed regret for the mistake that will cost him and his fellow Russians two games against the Sabres and two against the New York Islanders, teammates said Thursday the protocols were spelled out for them before the season. “It’s not a situation we want to be in, but here we are,” centre Nicklas Backstrom said. “We’re a tight group. Every time we’re on the road, we see a chance to really connect as a group, but obviously it’s a violation.” Carolina has been off since Tuesday, when Teuvo Teraivanen, Jaccob Slavin, Jordan Martinook and Warren Foegele joined captain Jordan Staal on the COVID-19 unavailable list. The Hurricanes have so far had three games postponed because of their outbreak and won't play for at least a week. “We'vw done all the protocols — we’ve tried,” Brind’Amour said. “Obviously it didn’t matter, it got into our room.” Carolina, Dallas, Florida, Nashville and defending Stanley Cup champion Tampa Bay have all had at least one game postponed because of COVID-19 concerns. The NHL said 17 Stars players tested positive, and their first four games were rescheduled. “We’re in a position that we have catch-up to do: catch up in the standings, catch up in games played,” said Dallas coach Rick Bowness, whose team finally plays its first game Friday at Nashville. “The other teams are playing 56 games in 118 days, I think we’re playing them in 108, so our schedule just got a lot more condensed and there’s going to be times with this schedule because of the cancellation of those games it’s going to really hurt us.” Each team is required to carry a “taxi squad” of four to six players who travel with the team and can be called up if necessary as a way to prevent postponements. The Capitals had to dig three deep into theirs to make up for some big losses. Because of the taxi squads, the NHL doesn't have an official number of players unavailable that would postpone a game. Commissioner Gary Bettman said before the season those decisions would be made on a case-by-case basis. Brind'Amour and Carolina general manager Don Waddell didn't seem to question any player's judgement amid the team's pause. Some players are stuck in Nashville while the rest of the Hurricanes are home because of NHL protocols spelling out what to do when positive test results happen on the road; everyone's limited to virtual practices and meetings with the practice facility closed. “I think we all understood there was a chance that something like this was going to happen," Brind'Amour said. “It’s not really about was it going to happen, it’s how do you deal with it. I think that’s really what we’re going to find out.” ___ AP Sports Writers Aaron Beard and Stephen Hawkins contributed. ___ More AP NHL coverage: https://apnews.com/hub/NHL Stephen Whyno, The Associated Press