Life

Puxin Turns To Profit In Q1, Despite Weak Student Enrollments; Sees Higher Revenues In Q2

How Military Quagmires Have Caught Mighty Powers by Surprise

By Thomas E. Ricks

We probably have too many books about the Civil War and World War II, but certainly could use closer examinations of our less understood conflicts. So it is good to see several new works explore more obscure corners of American military history.

The people that are preparing the world for a disaster

Asteroids, weapons of mass destruction, super volcanoes, future pandemics, ecological collapse and wars – these are things we do not want to imagine but there are people that prepare humanity for them.

April saw record decadal high of 161 deals amounting to $13 billion

Domestic mergers and acquisitions transactions led the pack with 32 deals amounting to $5 billion.

Deal-making in April 2021 saw the highest volumes since 2011, triggered by the highest number of private equity (PE) deals in any month.

April reported 161 deals amounting to $13 billion.

This record coincides with the peak in Covid-19 cases and also reflects the importance of the time period between the first wave and second wave, which witnessed several fiscal and economic incentives and created opportunity.

Domestic mergers and acquisitions (M&A) transactions led the pack with 32 deals amounting to $5 billion, which included two transactions in the billion-dollar category.

Achieving market leadership position appeared to be the rationale for the big-ticket domestic transactions.

The Covid-19 second wave is expected to negatively impact the deal landscape in the short term.

However, the impact is also expected to create opportunities for more transactions, going forward, and will be a matter of timing.

How Do We Build Our Homes and Cities for a Sustainable Future?

The Covid-19 pandemic has driven changes in how people live and work. On June 24, join The Times and experts as we discuss how this shift can present new opportunities.

By The New York Times

Thai central bank says key rate may stay at record low for 1-2 yrs

BANGKOK, May 24 (Reuters) – Thailand’s benchmark interest rate will probably stay at a record low of 0.5% for one or two years until the economy clearly recovers, a senior central bank official said on Monday.

Inflation may rise temporarily and stagflation is not expected, senior director Don Nakornthab told an economic forum.

Milan Provisions Recalls Certain Jalapeno Chorizo Sausage Products

Corona, New York-based Milan Provisions Co. Inc. is recalling around 6,000 pounds of Jalapeno chorizo sausage products made using pork ingredients produced without the benefit of federal inspection, the U.S. Department of Agriculture’s Food Safety and Inspection Service or FSIS said.

The recall involves 14-oz and 22-oz vacuum-packed packages containing “MILAN PROVISIONS MEXICAN BRAND MADE IN NEW YORK CURED CHORIZO JALAPEÑO” with expiration dates of “JUN 12 21”, “JUN 13 21”, “JUN 14 21” and “JUN 15 21.”

The heat-treated, not fully cooked, not shelf stable jalapeno chorizo sausage items were produced from April 13 through April 16, 2021. The affected products bear establishment number “EST. 4335” inside the USDA mark of inspection. These items were shipped to retail locations in New York.

The recall was initiated after the agency discovered that the company received pork trim product from a retail butcher facility that is not federally inspected and used it in production of the chorizo product.

However, there have been no confirmed reports of adverse reactions due to consumption of these products.

Consumers are urged to throw away the affected products or return to the place of purchase.

In similar recalls, Tinley Park, Illinois-based Otten’s Seafood Inc. recently called back around 46,804 pounds of Siluriformes fish or catfish citing that the products were produced, packed, and distributed without the benefit of federal inspection.

How Food Trucks Endured and Succeeded During the Pandemic

Embracing technology, scaling down costs and general flexibility has helped them through a difficult time.

By Kerry Hannon

This article is part of Owning the Future, a series on how small businesses across the country have been effected by the pandemic.

Puxin Turns To Profit In Q1, Despite Weak Student Enrollments; Sees Higher Revenues In Q2

Chinese after-school education services provider Puxin Limited (NEW) reported Monday that its first-quarter net income attributable to Puxin was 37.8 million yuan or $5.8 million, compared to net loss of 43.5 million yuan last year. Earnings per ADS were 0.06 yuan or $0.01, compared to net loss per ADS of 0.50 yuan a year ago.

Adjusted net income attributable was 9.6 million yuan or $1.5 million, compared to last year’s 25.4 million yuan. Adjusted net income per ADS attributable were 0.11 yuan or $0.02, compared to 0.29 yuan last year.

Operating income was 6.5 million yuan or $1.0 million, an increase of 78.9 percent from the prior year.

Net revenues decreased 8.6 percent to 686.8 million yuan or $104.8 million from 751.3 million yuan a year ago. This decrease was primarily due to a 7.1 percent decrease in student enrollments to 539,355.

Looking ahead for the second quarter, the company expects net revenues to be between 661.2 million yuan and 691.3 million yuan, which represents an increase of 10 percent to 15 percent year-over-year.

As student retention increases and PBS system is strengthened, the company said it is confident in improving profitability in a long run.