Life

France Q3 GDP Growth Accelerates More Than Expected

Opinion | A World Running on Empty

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Paul Krugman

Opinion Columnist

Royal Caribbean Cruises Ltd. Earnings at $ -1.42 B in Q3

Below are the earnings highlights for Royal Caribbean Cruises Ltd. (RCL):

-Earnings: -$1.42 billion in Q3 vs. -$1.35 billion in the same period last year.
-EPS: -$5.59 in Q3 vs. -$6.29 in the same period last year.
-Excluding items, Royal Caribbean Cruises Ltd. reported adjusted earnings of $174.85 million or $0.68 per share for the period.
-Revenue: $456.96 million in Q3 vs. -$33.69 million in the same period last year.

Rockies podcast: Talking World Series, coaching changes, Ryan McMahon’s chance at Gold Glove

Subscribe to the podcast
SoundCloud | iTunes | Stitcher | RSS

Mexico posts September fiscal deficit of 99.578 bln pesos

MEXICO CITY, Oct 29 (Reuters) – Mexico’s public sector ran a fiscal deficit of 99.578 billion pesos ($4.84 billion) in September, data from the finance ministry showed on Friday.

Saint-Gobain 9-Month Sales Up 18.1%

French building materials firm Saint-Gobain (CODGF.PK), Thursday reported sales for the nine-month period of 32.93 billion euros, up 18.1% from 27.89 billion euros last year.

On a like-for-like basis, sales were up 21% over nine months.

High Performance Solutions (HPS) sales rose 14.9% over the nine-month period, while Northern Europe jumped 18.3%. Southern Europe – Middle East & Africa increased 18.0% over the nine-month period and the Americas gained 20%, while Asia Pacific increased 24.8%

Third-quarter sales rose 6.7% to 10.80 billion euros from 10.13 billion euros last year. Sales for the third quarter were up 9.4% like-for-like, with all segments reporting increases, except Southern Europe – Middle East and Africa, which dropped 5.1%.

Cameco Posts Narrower Adj. Loss In Q3; Revenue Down 5%

Cameco (CCO.TO,CCJ) reported a third quarter adjusted loss per share of C$0.14 compared to a loss of C$0.20, last year. On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of C$0.04, for the quarter. Analysts’ estimates typically exclude special items. Net loss to equity holders was C$72.12 million or C$0.18 per share compared to a loss of C$60.77 million or C$0.15 per share, prior year.

Revenue from products and services declined to C$361.22 million from C$378.87 million, prior year. Analysts on average had estimated C$398.87 million in revenue.

Due to some supply constraints experienced, the Group has reduced its forecast for fuel services production for the year.

Wall Street’s climb makes October the best month this year.

By Coral Murphy Marcos

UPDATE 1-Mexico posts September fiscal deficit of $4.8 bln

(Adds background details)

MEXICO CITY, Oct 29 (Reuters) – Mexico’s public sector ran a fiscal deficit of 99.578 billion pesos ($4.84 billion) in September, data from the finance ministry showed on Friday.

The figure compares with a fiscal deficit of 19.759 billion pesos in August and a deficit of 11.480 billion pesos in July.

US intelligence releases report on Covid-19 origins

WASHINGTON (REUTERS) – The Office of the US Director of National Intelligence (ODNI) released a declassified intelligence community assessment on Covid-19 origins on Friday (Oct 29), with the report judging that the coronavirus was not developed as a biological weapon.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Pre-market Movers: PHUN, CRTD, MTCR, DWAC, SNAP…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 05.50 A.M. EDT).

In the Green

Phunware, Inc. (PHUN) is up over 285% at $5.90
Creatd, Inc. (CRTD) is up over 149% at $7.28
Digital World Acquisition Corp. (DWAC) is up over 47% at $67.00
DatChat, Inc. (DATS) is up over 16% at $10.28
Grom Social Enterprises, Inc. (GROM) is up over 13% at $4.04
T2 Biosystems, Inc. (TTOO) is up over 9% at $0.90
Takung Art Co., Ltd. (TKAT) is up over 6% at $7.40
Salem Media Group, Inc. (SALM) is up over 5% at $3.90

In the Red

Metacrine, Inc. (MTCR) is down over 50% at $1.90
Snap Inc. (SNAP) is down over 20% at $59.90
Socket Mobile, Inc. (SCKT) is down over 17% at $7.38
China Finance Online Co. Limited (JRJC) is down over 15% at $7.70
Lightbridge Corporation (LTBR) is down over 14% at $6.95
Seaport Global Acquisition Corp. (SGAM) is down over 12% at $11.25
Sesen Bio, Inc. (SESN) is down over 10% at $1.12
Camber Energy, Inc. (CEI) is down over 9% at $1.46
LumiraDx Limited (LMDX) is down over 8% at $8.25
Huadi International Group Co., Ltd. (HUDI) is down over 5% at $13.47

France Q3 GDP Growth Accelerates More Than Expected

The French economy grew more than expected in the third quarter on robust household spending and exports, the first estimate from the statistical office Insee showed on Friday.

Gross domestic product grew 3 percent sequentially, much faster than the 1.3 percent expansion logged in the second quarter and the economists’ forecast of +2.1 percent.

GDP almost returned to its pre-crisis level and was just 0.1 percent below its fourth quarter 2019 level.

The expenditure-side breakdown showed that household spending advanced 5.0 percent after rising 1.3 percent, contributing +2.5 points to GDP growth this quarter. Likewise, government expenditure growth rose to 3 percent from 0.7 percent.

Meanwhile, gross fixed capital formation was down 0.1 percent after climbing 2.5 percent a quarter ago.

Growth in exports improved to 2.3 percent from 1.2 percent in the previous quarter, while imports were virtually stable after gaining 1.7 percent. Consequently, foreign trade contributed to GDP growth by +0.6 points.

Finally, the contribution of inventory changes to GDP growth was negative this quarter, by 0.9 points.

In a separate communiqué, the Insee said household consumption decreased unexpectedly by 0.2 percent in September, in contrast to the 0.7 percent rebound in August. Spending was expected to grow 0.3 percent.

This slight decrease was mainly due to the clear 1.5 percent fall in food consumption. Energy consumption slid 0.1 percent.