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International Flavors And Fragrances Inc Q3 adjusted earnings Miss Estimates

Both directions of Interstate 70 shut down each side of Eisenhower Tunnel

Traffic is shut down on Interstate 70 at the Eisenhower Tunnel, in both directions, by multiple crashes.

Eastbound traffic has been stopped in Silverthorne and westbound traffic is stopped at the tunnel, according to the Colorado State Patrol.

There is no estimated time for reopening, according to the Colorado Department of Transportation.

Photographs posted by the Colorado State Patrol on Twitter show a semi-trailer toppled over an embankment with box spilled onto the snow-covered roadway. There were no immediate reports of injuries.

Synalloy Corp Q3 adjusted earnings of -$0.11 per share

Below are the earnings highlights for Synalloy Corp (SYNL):

-Earnings: -$10.54 million in Q3 vs. -$0.95 million in the same period last year.
-EPS: -$1.16 in Q3 vs. -$0.11 in the same period last year.
-Excluding items, Synalloy Corp reported adjusted earnings of -$1.03 million or -$0.11 per share for the period.
-Revenue: $59.27 million in Q3 vs. $73.64 million in the same period last year.

CCI to probe Google’s ‘abuse’ of position

Issue concerns payments app GPay

The Competition Commission of India (CCI) ordered a detailed probe against Google for ‘abuse’ of its dominant position, primarily with regard to its digital payments application GPay.

The order follows a complaint by an ‘informant’ alleging multiple instances of abuse of dominant position by Google, with CCI deciding to carry forward the investigation into two of these instances — pre-installation of GPay on Android OS smartphones and use of Google Play’s in-app billing as the method of payment by developers.

“The Commission is of the prima facie view that the opposite parties have contravened various provisions of Section 4 of the Act. These aspects warrant a detailed investigation,” the order said. Section 4 of the Competition Act pertains to abuse of dominant market position.

The Commission has directed the Director General to finish the probe and submit the report in 60 days.

Gold Edges Higher On Dollar Weakness

Gold prices edged higher on Monday and the dollar weakened against its rivals as traders focused on the upcoming regime change in the United States.

Spot gold rose 0.4 percent to $1,958.07 per ounce, while U.S. gold futures were up 0.4 percent at $1,959.20.

Over the weekend, Democratic candidate Joe Biden defeated incumbent Donald Trump in the U.S. presidential election, helping remove some political uncertainty.

Biden reportedly topped the necessary 270 Electoral College votes, but President Donald Trump is yet to concede he has lost the key states. Analysts think that Trump’s election lawsuits are unlikely to pass legal muster.

Investors are pinning hopes that Biden would push through the fiscal stimulus to get through the Covid-19 pandemic and signal a more predictable approach to trade policy.

Portugal has entered a state of emergency, with curfews imposed in the areas worst hit by the pandemic as the number of global cases passed the grim milestone of 50 million cases worldwide.

Curfews have also been announced in Romania and Hungary. The United States is on track to surpass 10 million coronavirus cases.

Temasek-Backed Red Dot Close to Raising $200 Million VC Fund

Red Dot Capital Partners has raised about $200 million to invest in Israeli technology startups looking to expand into southeast Asia and Japan.

Temasek Holdings Pte is the fund’s largest backer, joined by investors from Japan and the U.S., Yaniv Stern, a managing partner at Red Dot, said in an interview. The Israeli venture capital firm has raised about 95% of the money and has already invested in three companies, he said.

Unlike most Israeli technology firms that shoot for U.S. and European markets, Red Dot seeks to steer its portfolio companies toward countries like Singapore and Vietnam, where growth has been faster and governments have been better at controlling the Covid-19 pandemic.

“Asian countries are months ahead in terms of dealing with Covid,” Stern said. “We expect their economic recovery trajectories to be quite different than countries that have demonstrated less discipline.”

Red Dot, which usually invests between $10 million and $15 million in financing rounds for Israeli startups, had previously raised a $150 million fund and took stakes in companies in industries such as cashier-less shopping, online commerce and cybersecurity.

Back shareholder resolutions on climate change, U.N. chief tells investors

LONDON (Reuters) – Investors should push companies to slash their greenhouse gas emissions faster by “systematically” supporting shareholder resolutions on climate change, U.N. Secretary-General Antonio Guterres said on Monday.

“Use your voting powers in companies to accelerate their decarbonisation by systematically supporting climate resolutions,” Guterres told a conference in London.

International Flavors And Fragrances Inc Q3 adjusted earnings Miss Estimates

International Flavors And Fragrances Inc (IFF) released earnings for third quarter that declined from last year.

The company’s bottom line totaled $84.83 million, or $0.75 per share. This compares with $127.12 million, or $1.13 per share, in last year’s third quarter.

Excluding items, International Flavors And Fragrances Inc reported adjusted earnings of $159.28 million or $1.40 per share for the period.

Analysts had expected the company to earn $1.46 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Revenue came in at $1.27 billion, equal to the mark posted in the same period last year.

International Flavors And Fragrances Inc earnings at a glance:

-Earnings (Q3): $159.28 Mln. vs. $173.82 Mln. last year.
-EPS (Q3): $1.40 vs. $1.53 last year.
-Analysts Estimate: $1.46
-Revenue (Q3): $1.27 Bln vs. $1.27 Bln last year.