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MARKETS LIVE BLOG:

STOCKS MIXED AFTER U.S. OFFICIALS CALL FOR PAUSE IN J&J VACCINE ROLLOUT

Consumer prices rise 2.6% year-over-year in biggest jump since 2018

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  • Skeljungur hf.: Skeljungur hf. publishes extract from the 2021 budget of P/F Magn, Skeljungur hf.’s subsidiary in the Faroe Islands

    Following an announcement by Skeljungur hf. last 24 March of the decision of the company’s board of directors to assess the advantages of future ownership of P/F Magn, Skeljungur’s subsidiary in the Faroe Islands, Kvika Bank’s corporate advisory team has been approached by interested buyers. In light of the above, and in consideration of the interest shown by investors in P/F Magn, Skeljungur has decided to disclose P/F Magn’s budget for 2021 in order to ensure equal access for investors to the above information. Below is a summarised statement from the budgets of P/F Magn and P/F Demich in the Faroe Islands for the operating year 2021, with a comparison to 2020. All amounts are in million Danish krone and in accordance with International Financial Reporting Standards (IFRS) as they appear in Skeljungur’s consolidated financial statement: Budget 2021Actual 2020 MagnDemichAdjustmentTotalMagnDemichAdjustmentTotalGross margin133.227.2 160.4139.448.6 188.0EBITDA63.86.3 70.161.910.6 0.372.8EBIT51.04.9 55.949.89.1 58.9Profit37.83.2-0.140.937.87.2- 0.144.9 P/F Magn’s total income in the operating year 2020 amounted to ISK 15,560 million, while the Group total income amounted to ISK 41,203 million. P/F Magn’s EBITDA in 2020 amounted to ISK 1,509 million, while the Group EBITDA amounted to ISK 2,676 million. Further news may be expected in the near future. For further information please contact Árni Pétur Jónsson, CEO, at fjarfestar@skeljungur.is. www.skeljungur.is https://www.linkedin.com/company/skeljungur-hf/

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  • Geotechnical Instrumentation & Monitoring Market Research Report by Networking Technology, by Structure, by Offering, by End User, by Application - United States Forecast to 2025 - Cumulative Impact of COVID-19

    Geotechnical Instrumentation & Monitoring Market Research Report by Networking Technology (Wired and Wireless), by Structure (Buildings & Utilities, Dams, and Tunnels & Bridges), by Offering, by End User, by Application - United States Forecast to 2025 - Cumulative Impact of COVID-19New York, April 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Geotechnical Instrumentation & Monitoring Market Research Report by Networking Technology, by Structure, by Offering, by End User, by Application - United States Forecast to 2025 - Cumulative Impact of COVID-19" - https://www.reportlinker.com/p06013732/?utm_source=GNW Market Statistics:The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. This helps organization leaders make better decisions when currency exchange data is readily available.The United States Geotechnical Instrumentation & Monitoring Market is projected to grow with a significant CAGR in the forecast period. Economic development and substantial infrastructure development have constituted regional revenue generation. Further, the patterns associated with domestic production, import and export, and consumption have helped market participants to analyze and capitalize on potential opportunities. Besides, the qualitative and quantitative parameters provided in the report with detailed analysis highlights the driving and restraining factors of the United States Geotechnical Instrumentation & Monitoring Market.Market Segmentation & Coverage:This research report categorizes the Geotechnical Instrumentation & Monitoring to forecast the revenues and analyze the trends in each of the following sub-markets:Based on Networking Technology, the Geotechnical Instrumentation & Monitoring Market studied across Wired and Wireless. Based on Structure, the Geotechnical Instrumentation & Monitoring Market studied across Buildings & Utilities, Dams, and Tunnels & Bridges. Based on Offering, the Geotechnical Instrumentation & Monitoring Market studied across Hardware, Services, and Software. Based on End User, the Geotechnical Instrumentation & Monitoring Market studied across Buildings & Infrastructure, Energy & Power, Mining, and Oil & Gas. Based on Application , the Geotechnical Instrumentation & Monitoring Market studied across Measurement Of Pore Water Pressure, Measurement Of Rock/Soil Stress, Monitoring Of Lateral Deformation, and Monitoring Of Vertical Deformation. The Measurement Of Rock/Soil Stress further studied across Rock Stability and Soil Stability. Cumulative Impact of COVID-19:COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.360iResearch™ FPNV Positioning Matrix:The 360iResearch™ FPNV Positioning Matrix evaluates and categorizes the vendors in the Geotechnical Instrumentation & Monitoring Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.360iResearch™ Competitive Strategic Window:The 360iResearch™ Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The 360iResearch™ Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.The report provides insights on the following pointers:1. Market Penetration: Provides comprehensive information on the market offered by the key players2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developmentsThe report answers questions such as:1. What is the market size and forecast of the United States Geotechnical Instrumentation & Monitoring Market?2. What are the inhibiting factors and impact of COVID-19 shaping the United States Geotechnical Instrumentation & Monitoring Market during the forecast period?3. Which are the products/segments/applications/areas to invest in over the forecast period in the United States Geotechnical Instrumentation & Monitoring Market?4. What is the competitive strategic window for opportunities in the United States Geotechnical Instrumentation & Monitoring Market?5. What are the technology trends and regulatory frameworks in the United States Geotechnical Instrumentation & Monitoring Market?6. What are the modes and strategic moves considered suitable for entering the United States Geotechnical Instrumentation & Monitoring Market?Read the full report: https://www.reportlinker.com/p06013732/?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: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001

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  • Johnson & Johnson delays vaccine rollout in Europe

    BERLIN — Johnson & Johnson said Tuesday it is delaying the rollout of its coronavirus vaccine in Europe amid a U.S. probe into reports of rare blood clots in some recipients. The announcement came after regulators in the United States said they were recommending a “pause” in administration of the single-dose shot to investigate reports of potentially dangerous blood clots. “We have been reviewing these cases with European health authorities,” Johnson & Johnson said. “We have made the decision to proactively delay the rollout of our vaccine in Europe.” The delay is a further blow to vaccination drives in the European Union, which have been plagued by supply shortages, logistical problems and concerns over unusual blood clots in a small number of people who received the AstraZeneca vaccine. The blood clot reports prompted several countries in the 27-nation bloc to limit the AstraZeneca vaccine to older age groups, which are more at risk from serious illness when infected with COVID-19. The Johnson & Johnson and AstraZeneca vaccines are made with the same technology. Many leading COVID-19 vaccines train the body to recognize the spike protein that coats the outer surface of the coronavirus. But the J&J and AstraZeneca vaccines use a cold virus, called an adenovirus, to carry the spike gene into the body. Johnson & Johnson uses a human adenovirus to create its vaccine, while AstraZeneca uses a chimpanzee version. The European Medicines Agency, the EU’s equivalent to the FDA, said last Friday that it was reviewing cases reported in the United States of blood clotting in people who had received the J&J vaccine, which was developed by the company's Janssen subsidiary. In a joint statement Tuesday, the Centers for Disease Control and Prevention and the Food and Drug Administration said they were investigating unusual clots that occurred 6 to 13 days after vaccination. The clots occurred in veins that drain blood from the brain and occurred together with low platelets. All six cases were in women between the ages of 18 and 48; there was one death. The Amsterdam-based EMA said following the U.S. announcement Tuesday it “is currently not clear whether there is a causal association between vaccination with COVID-19 Vaccine Janssen and these conditions.” The European agency's safety committee “is investigating these cases and will decide whether regulatory action may be necessary,” the EMA said. The EU ordered 200 million doses of the Johnson & Johnson in 2021. Britain ordered 30 million doses of the J& J vaccine, though U.K. regulators have not yet approved its use. France had expected to receive 200,000 doses of the vaccine this week and was planning to start administering them next week to people aged 55 and over. In total, the country had planned to receive about 8 million doses of the J&J vaccine by the end of June. In February, South Africa began vaccinating its health workers with the J&J vaccine in a research trial after abandoning plans to use the AstraZeneca shot when a preliminary study suggested the AstraZeneca vaccine was only minimally effective against the variant of COVID-19 that first arose in the country. South Africa planned to test the J&J shot in 500,000 health workers as part of the research, and as of Monday night, it had vaccinated 289,787. Last month, the African Union announced it had signed a deal to buy up to 400 million doses of the J&J vaccine. Johnson & Johnson also has a preliminary agreement to supply up to 500 million doses through 2022 to the U.N.-backed COVAX initiative, an effort to provide COVID-19 vaccines to the world's poor. The World Health Organization last month gave the green light to the J&J vaccine, saying its formulation “should facilitate vaccination logistics in all countries.” Any concerns about the J&J vaccine could be another unwelcome complication for COVAX and for the billions of people in developing countries depending on the program to get immunized. COVAX recently was hit by supply issues after its biggest supplier, the Serum Institute of India, announced it would delay exports of the AstraZeneca vaccine for several months due to a surge of cases in the subcontinent. European regulators on March 11 endorsed the Johnson & Johnson vaccine as the fourth authorized for use in the EU, saying the data on the product indicated it met the bloc's criteria for efficacy, safety and quality, but the first supplies were only now arriving. Italy expected to receive its first Johnson & Johnson deliveries this week. The Lazio region surrounding Rome planned to give the prison population the single jab, while the northern Veneto region, which includes Venice, planned to use it for home-bound adults over 80. “I am watching today’s news with concern, as a humanitarian actor. I am also watching with satisfaction, because the regulatory system is working,’’ Francesco Rocca, president of the International Federation of the Red Cross, told foreign reporters in Italy. “I imagine there will be repercussions, as we are waiting for millions of doses. But this means the controls are working. If we need to be prudent, we need to be prudent.” Officials in Germany, which was due to receive 232,800 doses of the vaccine this week and 10.1 million doses by the end of June, said earlier Tuesday that there were no immediate plans to change the schedule. “I don’t currently have the date from which Johnson & Johnson will be administered,” a Health Ministry spokesman, Hanno Kautz, told reporters in Berlin. “But in principle, we naturally always take such warnings in an international context seriously and investigate them.” Spain is expecting to receive 300,000 doses of J&J on Wednesday, the first delivery of the jab produced by Johnson & Johnson. Asked about the pause on Johnson & Johnson shots in the United States, Spanish Prime Minister Pedro Sánchez said the benefits of taking the vaccine remain greater than the risks but that he would have to learn more about the situation. “We have to all be aware that all the vaccines being administered to the Spanish population, and the European, as well as American populations, are safe,” Sánchez said. ___ Cheng reported from London. Mike Corder in The Hague, Colleen Barry in Milan, Aritz Parra in Madrid, Andrew Meldrum in Johannesburg and Sylvie Corbet in Paris contributed to this report. Frank Jordans And Maria Cheng, The Associated Press

  • Commercial Tabletop Kitchen Products Market Report 2021: Market Size is Expected to Reach $17.74 Billion by 2028 - The Evolution of Self-Service Kiosks & Popularity of Buffet Systems - ResearchAndMarkets.com

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  • Global SPAC Partners Co. Announces Closing of $160 Million Initial Public Offering

    New York, New York, April 13, 2021 (GLOBE NEWSWIRE) -- Global SPAC Partners Co. (“Global” or the “Company”) (NASDAQ: GLSPU) announced today that it closed its initial public offering of 16,000,000 units, at $10.00 per unit, resulting in gross proceeds of $160,000,000. The Company’s units began trading on the NASDAQ Capital Market (“NASDAQ”) on April 9, 2021, under the ticker symbol “GLSPU.” Each unit consists of one subunit and one-half of a redeemable warrant. Each subunit consists of one Class A ordinary share and one-quarter of a redeemable warrant. Each full warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the subunits and warrants are expected to be listed on NASDAQ under the symbols “GLSPT” and “GLSPW,” respectively. Assuming the Company consummates an initial business combination, the subunits will separate into the underlying Class A ordinary shares and warrants, while the units and subunits will cease to trade. Global is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition in any geography, business industry or sector, it intends to concentrate its efforts on identifying businesses in the Southeast Asia, Middle East and North Africa regions. The Company is led by Chairman - Jayesh “Jay” Chandan, Chief Executive Officer - Bryant B. Edwards, Chief Operating Officer & President - Stephen N. Cannon and Chief Financial Officer - Long Long. I-Bankers Securities, Inc. acted as sole manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,400,000 units at the initial public offering price to cover over-allotments, if any. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on April 8, 2021. The offering was made only by means of a prospectus, copies of which may be obtained by contacting I-Bankers Securities, Inc., Attn: 535 5th Ave. 4th Fl, New York, NY 10017 This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Investor Contact: Long Long, CFO Global SPAC Partners Co. (650) 560-4753 Info@GlobalSPAC.com

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  • JAGGAER Unveils “Digital Mind” Strategy with the Introduction of New Adopt, Assist and Advise Solutions

    Embedded intelligence, predictive analytics, and real-time user guidance improve strategic decision making, procurement efficiency, risk reduction and customer successRESEARCH TRIANGLE PARK, N.C., April 13, 2021 (GLOBE NEWSWIRE) -- JAGGAER today announces the launch of its “Digital Mind” strategy to boost customer success in the adoption and use of its source-to-settle JAGGAER ONE platform. JAGGAER Digital Mind is a core set of advanced technologies that incorporates prescriptive and predictive analytics, machine learning, natural language processing and other innovative capabilities to deliver solutions and capabilities across the JAGGAER ONE platform. Collectively, these solutions will boost organizations’ return on investment (ROI) in the digital transformation of procurement. As part of the JAGGAER 21.1 release, the company has launched three unique solutions: JAGGAER Adopt, Assist, and Advise. Each leverages the capabilities of the JAGGAER Digital Mind to provide companies and their users with more insights, contextual guidance, decision support, and automation to improve adoption and use of the JAGGAER ONE platform. JAGGAER CEO Jim Bureau said, “Our company’s focus is 100% on customer success. We have developed the most advanced solution suite in procurement technology. We want to go beyond that to empower users on every step of their journey, by providing them with more intelligence on all aspects of their spending and delivering more strategic outcomes throughout their digital transformation. This is the promise behind Digital Mind.” JAGGAER Adopt increases the success and ROI of a procurement organization’s digital transformation by giving 360o visibility into user adoption, feature utilization, and compliance with company-defined processes, coupled with guided help, training, tips and tutorials to improve skills and increase user performance exactly where and when the user needs it. The solution also gives procurement management teams the tools they need to track user adoption, efficiency, effectiveness, and KPIs to understand usage levels, so that they can focus on refining and improving their systems and processes. “With this insight, our customers can better understand how their organizations are using JAGGAER every day and identify areas where users might need more training or guidance on company procurement processes and the capabilities available for users. This will bring a range of benefits such as increased compliance, faster adoption, and higher utilization,” said Greg Holt, Director of Product Marketing, JAGGAER. JAGGAER Assist makes it easier to ensure that investments in procurement digital transformation deliver maximum return on investment through efficiency, consistency, and user confidence. An intelligent virtual assistant, JAGGAER Assist, helps users find specific information or reports, provides real-time support and guidance to complete tasks, and even takes on some tasks on behalf of the user. “Research shows that you pick up 70% of knowledge at the workplace, 20% via social learning and just 10% via formal learning and training. For this reason, many companies are relying more on ‘learning on demand’ and performance support to improve the efficiency of their users,” Holt said. “And this is precisely the thinking behind JAGGAER Assist, which uses natural, conversational language to answer users’ queries, provide guidance on next steps, find the data they need in real-time, or start a new task at the moment of need.” JAGGAER Advise enables users to be more proactive in recognizing areas of improvement and mitigating challenging situations such as supplier risk. “Leveraging a combination of advanced predictive analytics, machine learning, and customer-specific business rules, JAGGAER Advise enables procurement professionals to identify steps that could improve performance or results and take corrective action on behalf of users. The software provides data-driven actionable insights and recommends next steps to mitigate the risk of supply disruptions, supplier qualification and performance issues, and underperforming sourcing events,” said Amenallah Reghimi, VP Product Management, who has led the development of JAGGAER Adopt, Assist and Advise. About JAGGAER: Procurement Simplified We drive customer value for buyers and sellers through our global connected network served by offices located in the Americas, APAC, Asia and EMEA. JAGGAER develops and provides comprehensive source-to-settle SaaS-based solutions, including advanced Spend Analytics, Category Management, Supplier Management, Sourcing, Contracts, eProcurement, Invoicing, Supply Chain Management and Inventory Management. These all reside on a single platform, JAGGAER ONE. JAGGAER has pioneered spend management solutions for more than 25 years and continues to lead the innovation curve by listening to customers and stakeholders in all industry sectors, public services and academia. www.jaggaer.com CONTACT: Contact Abigail Holmes Corporate Ink for JAGGAER jaggaer@corporateink.com +1 617.969.9192

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  • Consumer Prices in U.S. Advance by Most in Nearly Nine Years

    (Bloomberg) -- U.S. consumer prices climbed in March by the most in nearly nine years as the end of pandemic lockdowns triggered a rebound in travel and commuting that pushed up the cost of gasoline, car rentals and hotel stays.The consumer price index increased 0.6% from the prior month after a 0.4% gain in February, according to Labor Department data Tuesday. The jump in the cost of gas accounted for almost half the overall March advance.Excluding volatile food and energy components, the so-called core CPI increased 0.3% from February, the most in seven months. Costs of both goods and services rose last month.The annual inflation figure surged to 2.6%, a figure that was distorted by a pandemic-related decline in prices in March 2020. That effect will begin to fade within several months, helping explain why Federal Reserve policy makers see current price pressures as temporary rather than something more dangerous to the economy.The core measure rose 1.6% from 12 months ago. Prior to the pandemic, the annual core inflation metric was running north of 2%.Investors shrugged off the price data -- stocks were mixed and bonds little changed -- focusing instead on news that U.S. health officials called for a pause on the use of Johnson & Johnson’s Covid-19 vaccination because of blood clot concerns.“It was a bit stronger than the official consensus expectations, but it was lower than some people were worried about,” Matt Maley, chief market strategist for Miller Tabak + Co., said about the CPI report. When combined with the J&J news, “it means that the Fed can probably continue to provide plenty of stimulus going forward.”Still, the latest figures on consumer prices add fuel to an already heated debate about the path of inflation in the U.S., especially on the heels of last week’s Labor Department data showing a stronger-than-expected surge in producer prices.Some analysts and economists argue a wave of pent-up demand paired with trillions of dollars in government spending will spur a sustained upward movement in inflation. Bloomberg’s latest monthly survey shows economists continue to ratchet up growth forecasts.Read More: Bond Market’s Stalled-Out Reflation Trade Needs Actual InflationAmid supply chain bottlenecks, supply shortages and surging input costs, producers are already feeling the pinch of rising costs. While not all cost increases will be pushed through to consumers -- given a variety of different measures firms can take to offset costs -- sustained pressures in the production pipeline raise the risk of an acceleration in consumer inflation.Recent survey data highlighted developing cost pressures. The Institute for Supply Management’s latest figures showed more than half of service providers reported paying higher prices in March, the largest share since 2011. The ISM’s manufacturing survey showed about 72% of manufacturers said the same -- the second-most since 2008.Recently, some company executives have mentioned plans to raise prices for their products.Reopening InflationThe Labor Department’s data showed shelter costs, which make up about a third of the overall CPI, increased 0.3% in March. That was the biggest monthly gain since February 2020 and reflected a surge in the cost of lodging at hotels that was the biggest since 1991. Airfares also increased.The pickup in inflation translates into less take-home pay for American workers. A separate report Tuesday showed inflation-adjusted hourly earnings increased 1.5% in March from a year earlier, the smallest gain in more than a year.Digging DeeperGoods prices rose 4.1% in March from year ago, services up 1.8%Car and truck rental prices rose 11.7% from month earlier, most since June, while year-over-year increase was largest on recordFood prices climbed 0.1% from a month earlier, while energy costs jumped 5% in biggest gain since September 2017For 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.

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  • The Financial Times Names VRTCAL One of Americas’ Fastest Growing Companies

    SANTA BARBARA, Calif., April 13, 2021 (GLOBE NEWSWIRE) -- VRTCAL, a leading mobile SSP focused on Demand-Path Optimization (DPO) for mobile app developers, today announced it ranked No. 176 on The Financial Times’ (FT) The Americas’ Fastest Growing Companies 2021, an inaugural ranking of the region’s businesses by revenue growth rate. VRTCAL grew 376.8% between 2016 and 2019 and continues on an upward trend. VRTCAL’s platform boasts a more efficient ecosystem for mobile app advertising as new privacy regulations make waves throughout the digital industry. Since its inception, VRTCAL has provided technology and services maximizing mobile publishers’ efforts through monetization. The company’s efforts have not gone unnoticed as it ranked the 290th company on the Deloitte Technology Fast 500 list and 179th on Inc. Magazine’s List of California’s Fastest Growing Private Companies, true testimonies to VRTCAL’s dedication and impressive growth. Todd Wooten, Founder and President of VRTCAL stated: “We are humbled by this recognition and optimistic about our clients’ future. We are devoted to helping brands and publishers maximize and take control of their revenue and success.” The FT list of The Americas’ Fastest Growing Companies is comprised of the enterprises that contribute most heavily to economic growth. To view the 500 companies featured on the list, please visit: https://www.ft.com/content/ac773779-98ba-442d-a1f2-a14f1a67ddfe. About VRTCAL Markets, Inc. (“VRTCAL”) VRTCAL is the only open SSP and SaaS company focused on Demand-Path Optimization, reducing the vertical distance between mobile publishers and advertisers, and developing technologies that make a difference. The VRTCAL platform is a proprietary architecture that offers SDKs, oRTB, multiple mediation types, innovative technologies to increase publisher inventory value, and a MarketPlace with premium brands and advertisers. Media ContactKristen FrizzelleBlast PR for VRTCALkristen@blastpr.com