Glencore 2020 Copper Production Excl. Mutanda In Line With Prior Year – Quick Facts
Glencore PLC (GLCNF.PK,GLNCY.PK,GLEN.L) reported that its mining assets performed well during 2020. Own sourced copper production was 1,258,100 tonnes, 8% lower than 2019. Own sourced cobalt production of 27,400 tonnes was 41% lower than prior year. Own sourced zinc production was 1,170,400 tonnes, 9% higher than 2019. Own sourced nickel production was 110,200 tonnes, 9% lower than 2019.
Glencore CEO, Ivan Glasenberg, said: “Excluding Mutanda (currently on care and maintenance), 2020 copper production was in line with 2019, while cobalt production was 6,200 tonnes higher, reflecting Katanga’s continued successful ramp-up to design capacity levels.”
Glencore stated that its fiscal 2021 guidance as per investor presentation in December 2020 is still current.
Mitsui & Co 9-month Net Income Falls – Quick Facts
Mitsui & Co Ltd. (MITSF.PK,MITSY.PK) reported that its nine month profit to owners of parent declined to 198.9 billion yen from 335.1 billion yen, prior year. Earnings per share was 117.95 yen compared to 192.82 yen.
For the nine month period, revenue was 4.70 trillion yen compared to 5.19 trillion yen, a year ago.
For the year ending March 31, 2021, the company now projects: profit to owners of parent of 270.0 billion yen; and basic earnings per share of 160.31 yen.
Live Updates: Biden relaxes some immigration policies bolstered under the Trump administration
Wide gap between Biden, Republicans in new coronavirus aid proposal
The ‘Special Report’ All-Star panel discusses the likelihood of a bipartisan COVID relief bill
With President Biden relaxing Tuesday some immigration policies bolstered under the Trump administration, U.S. health and immigration officials have been vague about coronavirus testing for people caught crossing the southern border illegally.
Customs and Border Patrol (CBP) has reported an uptick in migrant apprehensions in the wake of some of Biden’s new policies, especially near the Rio Grande Valley and Tucson, Arizona.
- It’s unclear just how many migrants caught crossing the border have COVID-19, but the illness has killed a number of detainees during the pandemic.
- The president announced this week a new task force designed to reunite children who had been separated from their families
CBP said it began taking COVID-19 precautions back in March 2020, around the beginning of the pandemic.
Follow below for more updates on the Biden White House. Mobile users click here.
Novo Nordisk FY20 Results Rise; Plans Dividend, DKK 17 Bln Share Buy Back; Sees Growth In FY21
Danish pharmaceutical company Novo Nordisk A/S (NVO) reported Wednesday that its fiscal 2020 net profit increased 8 percent to 42.14 billion Danish kroner from last year’s 38.95 billion kroner.
Earnings per share were 18.01 kroner, up 10 percent from 16.38 kroner a year ago.
Net sales grew 4 percent to 126.95 billion kroner from 122.02 billion kroner last year.
Further, the company said its its Board will propose a final dividend of 5.85 kroner. The total dividend would be 9.10 kroner.
In addition, the company said it intends to initiate a new 12-month share repurchase program of up to 17 billion kroner.
Looking ahead, for fiscal 2021, sales growth is expected to be 5 percent to 9 percent, and operating growth is expected to be 4 percent to 8 percent, both at constant exchange rates.
Hitachi 9-month Profit Rises, But Revenue Down
Hitachi Ltd. (HTHIF.PK,HTHIY.PK) reported that its net income attributable to shareholders for the nine-month period ended 31st December 2020 significantly increased to 307.88 billion yen or 318.33 yen per share from 55.15 billion yen or 57.03 yen per share last year.
Other expenses for the period was 111.37 billion yen compared to 468.41 billion yen in the previous year.
Revenues for the period declined to 5.98 trillion yen from the previous year’s 6.34 trillion yen.
Hitachi said it will further promote the participation of foreign national, female and non-Hitachi Group human resources in management decision-making. The company said it will appoint Claudio Facchin as Senior Vice President and Executive Officer, CEO of the Power Grids Business Unit.
Additionally, current Chief Diversity & Inclusion Officer Lorena Dellagiovanna will be appointed as Hitachi’s first female Vice President and Executive Officer, and further accelerate the Hitachi Group’s diversity & inclusion initiatives.
Through those changes, as of April 1, 2021, four of Hitachi’s executive officers will be foreign nationals, three of whom will be working in Japan, the company said.
Thai c.bank keeps policy rate at record low, as expected
BANGKOK, Feb 3 (Reuters) – Thailand’s central bank left its key interest rate unchanged at a record low of 0.50% on Wednesday, as widely expected, preserving its limited monetary policy room even as the economy confronts risks from the latest wave of coronavirus infections.
The Bank of Thailand’s (BOT) monetary policy committee voted to hold the one-day repurchase rate unchanged for a sixth straight meeting.
Twelve economists in a Reuters poll had expected the BOT to remain on hold after three rate reductions in the first half of 2020. Two analysts saw a 25 basis point cut.
AT&T Sued For Allegedly Stealing Patented Twinning Technology
AT&T Inc. has been sued by Network Apps LLC for allegedly stealing patented twinning technology.
The Seattle-based apps developer filed a complaint in New York Southern District Court against the telecommunications giant for breach-of-contract and patent infringement claims.
Reuters reported that Network Apps seeks $1.35 billion in damages, including royalties.
Network Apps’ twinning technology allows smart devices including watches and tablets to respond to calls placed to a single phone number.
The suit is against AT&T’s NumberSync that lets consumers sync wireless number with compatible mobile devices.
In the filing, Network Apps accused that the company and AT&T had joint development and licensing agreements for its technology, but the deals were cancelled in 2014. A year later, AT&T allegedly incorporated the technology in its own product, NumberSync.
As per the complaint, NumberSync uses the same concept and architecture with only cosmetic changes.
Reuters quoted Network Apps’ founders, John Wantz and Kyle Schei as saying that AT&T’s decision to steal their technology has forced them to scale back operations significantly.
They also accuses that AT&T has not paid the required royalties since October 2015.
Network Apps is reportedly seeking at least $450 million of damages that needs to be tripled to reflect AT&T’s alleged willful and egregious infringement, as well as royalties for any future infringements.