Stock Alert: Fuel Tech More Than Doubles On Improved Results

UK man charged after car crashes into police station

LONDON (Reuters) – British police charged a man with attempted arson with intent to endanger life following an incident on Wednesday night when a car was driven into a north London police station.

The 45-year old was also charged with criminal damage, police said in a statement on Thursday. No injuries were reported in the incident in Edmonton.

The man will appear in custody at Highbury Corner Magistrates’ Court on Friday.

Textainer Group Q3 Profit Rises

Textainer Group Holdings Ltd. (TGH) Thursday reported third-quarter net income of $17.0 million or $0.32 per share, up from $10.6 million or $0.18 per share last year.

Adjusted earnings were $0.41 per share, up from $0.18 per share last year.

Lease rental income for the quarter were $149.1 million, down from $155.8 million last year.

Dutch police investigating after shots fired at Saudi embassy

AMSTERDAM (Reuters) – Dutch police said they were investigating a shooting at the embassy of Saudi Arabia before sunrise on Thursday. No one was hurt.

Several shots were fired at the building in The Hague just before 6 a.m. (0500GMT), police said.

A police spokeswoman was unable to provide additional details.

Coronavirus R rate 'fell to 0.85 before second lockdown'

The coronavirus R rate may have been 0.85 just before the second national lockdown, a major study has indicated.

Imperial College London’s REACT study uses data from swab tests across England.

They calculated that between October 26 and November 2 it was 0.85, the Mirror reports.

More follows.

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HHLA 9-month Operating Result, Revenue Decline – Quick Facts

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) reported Thursday that its profit after tax and minority interests for the nine-month period fell 55.7 percent to 37.2 million euros from 83.8 million euros in the year-ago period.

Operating result or EBIT declined 38.9 percent to 107.1 million euros from 175.4 million euros in the year-ago period, reflecting a strong decline in business activities in the second quarter.

The listed Port Logistics subgroup’s operating result or EBIT dropped 40.7 percent to 96.6 million euros.

Total revenue for the nine-month period declined 8.1 percent to 959.9 million euros from 1.04 billion euros last year. The listed Port Logistics subgroup also recorded an 8.1 percent decrease in revenue to 937.4 million euros.

Looking ahead, HHLA noted that while there were minor indications of a recovery in business in the third quarter fostered by, among other things, the renewed growth of the Chinese economy, the company will not achieve the strong result of the previous year in 2020.

“We regularly review our cost structure in order to secure our financial fields of action. With our ambitious efficiency programme, we aim to drastically reduce costs over the next five years in order to maintain the competitiveness of our services,” said Angela Titzrath, Chairwoman of HHLA’s Executive Board.

European Economics Preview: Germany’s Industrial Output Data Due

Industrial production from Germany is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s industrial output for September. Output is expected to climb 2.7 percent on month, in contrast to a 0.2 percent fall in August.

In the meantime, industrial output from Norway and Denmark are due.

At 2.45 am ET, the French current account data from Bank of France and foreign trade from customs office are due. The trade deficit is expected to narrow to EUR 6.3 billion from EUR 7.7 billion in August.

At 3.00 am ET, Spain’s INE publishes industrial production data for September. Output is forecast to drop 3.8 percent on year, slower than the 5.7 percent decrease in August.

Also, industrial output and foreign trade from the Czech Republic are due. Industrial output is seen falling 3.9 percent on year, following a 5.5 percent decrease in August.

At 3.30 am ET, UK Halifax house price figures are due.

At 4.00 am ET, Italy’s Istat publishes retail sales for September. Sales had increased 8.2 percent on month in August.

U.S. Posts $284.1 Billion Budget Deficit at Start of Fiscal 2021

The U.S. federal budget deficit more than doubled in October from a year earlier, reflecting a decline in revenue and increased spending tied to the government efforts to contain the economic damage from the coronavirus.

The $284.1 billion shortfall in the first month of fiscal 2021 compared with a $134.5 billion gap in October 2019, Treasury Department figures showed Thursday. Revenue decreased 3.2% and spending jumped 37.3% from a year ago.

The figures extend a rapid deterioration in the government’s fiscal position this year after lawmakers scrambled to shore up an economy that ground to a halt and depressed tax revenue because of the health crisis. In fiscal 2020, which ended last month, the U.S. amassed arecord $3.1 trillion budget shortfall.

For a breakdown of the Treasury’s October budget statement, clickhere.

Stock Alert: Fuel Tech More Than Doubles On Improved Results

Shares of nano-cap company Fuel Tech, Inc. (FTEK) surged over 120% on Wednesday morning driven by its quarterly results.

FTEK is currently trading at $1.6817, up $0.9207 or 120.99%, on the Nasdaq.

Third-quarter net income from continuing operations was $2.4 million or $0.10 per share, compared to net loss from continuing operations of $1.3 million or $0.05 per share.

Revenues increased 26.4% to $8.2 million from $6.5 million last year, reflecting higher revenue in both the APC and FUEL CHEM segments.