Tulane student tests positive for omicron variant New Orleans
Toshiba Corp on Wednesday posted an unexpected operating loss in the April-June first quarter as it grappled with a global chip shortage and a sharp rise in costs for raw materials. Higher material and logistics costs pushed down its operating earnings by 9.4 billion yen, while a chip shortage had a negative impact of about 3 billion yen, the company said. Bain Capital, CVC Capital Partners and Brookfield Asset Management as well as a consortium involving state-backed Japan Investment Corp and private equity firm Japan Industrial Partners have been selected by Toshiba to proceed to a second bidding round.
(Reuters) -Australia's Graincorp raised its annual profit forecast for the second time, as the agribusiness firm capitalises on strong demand for grains and vegetable oils amid a supply crunch from the war in Ukraine, pushing its shares up more than 10%. The profit upgrade on Wednesday was also encouraged by expectations of above-average East Coast Australian (ECA) crop in year 2022/23, combined with a favourable three-month rainfall outlook. Global wheat prices reached record levels in early 2022 as major exporter Ukraine's supplies were essentially cut off due to Russia's invasion, triggering a five-fold jump in Graincorp's first-half profit and allowing it to pay a special dividend.
MONTREAL — WSP Global Inc. is extending its buying streak, as the Montreal-based engineering giant announced its sixth acquisition in 10 weeks. The company said Monday after markets closed it has reached a roughly $975-million deal to purchase RPS, a consulting firm based in the United Kingdom with about $875 million in annual revenue and 5,000 employees worldwide. The 52-year-old outfit focuses on climate change and energy consulting, an area where WSP has recently broadened its footprint. In J
Large shifts in the composition of the U.S. workforce in the wake of the COVID-19 pandemic have made it harder to measure underlying productivity growth, which some economists put at about 1.0% or less, making the Federal Reserve's fight against inflation more difficult. Unit labor costs - the price of labor per single unit of output - rose at a 10.8% rate.
In contrast, rival Royal Caribbean Group forecast triple-digit occupancy by the end of this year and Carnival Cruise Line expects to approach 110% during its current quarter. The industry looks to cruise towards full occupancy after the pandemic brought it to an 18-month standstill, but self-imposed constraints as well as onboard COVID-19 cases, labor shortages and volatile demand stand in the way. For the third quarter, Norwegian Cruise projected occupancy in the low 80% range, revenue of $1.5 billion to $1.6 billion and a net loss.
(Reuters) -Roblox Corp missed estimates for quarterly bookings on Tuesday, in yet another sign the gaming industry is facing a slowdown after a pandemic-fueled boom, sending shares of the gaming platform down around 19% in extended trading. Roblox's downbeat results come as firms ranging from console makers and chip makers to video game publishers warn of a slowdown in the gaming world as red hot inflation hammers discretionary spending, challenging the idea of a "recession proof" industry. The California-based Roblox, famous for its games "Jailbreak" and "MeepCity", posted net bookings of $639.9 million in the second quarter, compared with $665.5 million a year earlier.
Episode 161 of Down to Business podcast
Petroleos Mexicanos (Pemex) has made progress in talks with global energy trader Vitol about resuming trading ties that broke down last year during a bribery scandal, and the companies must iron out some issues such as compensation for damages Mexico's state oil company suffered, two sources at Pemex said. The sources at Pemex did not offer details on how the damages from the scandal would be calculated or give an estimate. Vitol and Pemex declined to comment.
Tactic to lower emissions will reduce yields at a time when food security is a major concern, farmers argue
Google Fiber plans to bring its high-speed internet service to multiple cities in Arizona, Colorado, Idaho, Nebraska and Nevada over the next several years in its first big expansion since it spun out as an independent Alphabet Inc unit in 2015. In his first media interview since becoming chief executive of Google Fiber in February 2018, Dinni Jain told Reuters on Wednesday that his team was finally prepared to "add a little bit more build velocity" after over four years of sharpening operations. "There was an impression 10 years ago that Google Fiber was trying to build the entire country," Jain said.
Compensating donors for plasma is the only route to increase our domestic supply
Today, McDonald's Canada and McCain Foods Limited are proud to announce a new partnership to create the Future of Potato Farming Fund by investing $1M in education, demonstration, and cost-sharing grants to support potato farmer adoption of regenerative practices and technology. The new Fund's goals are building soil health and farm resilience as Canadian potato farmers face the escalating impacts of climate change on yield and crop quality.
Fairfax Financial Holdings (TSX:FFH) is going bargain hunting after a tough first half of 2022. The post TFSA Investors: 1 Deeply Undervalued Stock to Ride Out a “Mild” Recession appeared first on The Motley Fool Canada.
(Reuters) -Australian wealth manager AMP Ltd said on Thursday its half-year underlying profit slumped by nearly a quarter, as margin pressure weighed on the banking division, sending its shares down nearly 3%. Net interest margin at AMP Bank fell to 1.32% in the first half of the fiscal year, from 1.71% a year earlier, dragged down by growth in fixed-rate loans - which are less profitable. Still, the company said the banking division's net interest margin improved in the second quarter, and will show a good performance during the second half of the year, benefiting from a higher interest rate environment.
Latin American financial start-up Nubank said on Tuesday that Brazilian pop singer Anitta has left its board of directors, some 14 months after joining it, and will now become a global brand ambassador for the digital bank. The fintech, backed by investors such as Warren Buffett's Berkshire Hathaway, said that the singer had requested to leave the board due to her schedule. Born in a Rio de Janeiro slum, Anitta has become one of Brazil's best known pop stars.
U.S. consumer prices decelerated in July as gasoline prices dropped sharply, raising hopes the U.S. Federal Reserve may dial back its aggressive path of interest rate hikes. The consumer price index was unchanged last month after advancing 1.3% in June, the Labor Department said on Wednesday. In the 12 months through June, the CPI climbed 8.5%, below expectations of an 8.7% rise and after a 9.1% rise in June.
Binance, the world's largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation and a historically strong dollar that has depressed emerging market currencies, an executive told Reuters on Wednesday, without disclosing numbers. "Now that we are seeing inflation ramping up worldwide, we are seeing that more and more people are seeking cryptocurrency, like bitcoin, as a way to protect themselves from inflation," said Maximiliano Hinz, who heads Binance in Latin America, during an interview in Lima. Hinz pointed to the example of Argentina, where annual inflation is at 90%.
The offer price marks a premium of more than 53% to Recipe's last close. Recipe said it had entered into a letter of intent with Fairfax, adding its board would recommend shareholders vote in favor of a takeover once the deal was finalized. Founded in 1883, Vaughan, Canada-based Recipe operates brands such as Kelseys, East Side Mario's and New York Fries.
The dollar fell broadly on Wednesday following a cooler-than-expected U.S. inflation report for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the Federal Reserve. The Australian dollar, seen as a barometer of risk, was up 1.74% at $0.7083.
Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its second quarter results for the period ended June 30, 2022.
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