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UDR Q1 Profit Down, Lowers FY Outlook

Countries That Control The World\u2019s Gold

The world’s nations held a combined 35,218 tonnes of gold reserves as of February 2021, up from 34,700 tonnes the year before. Countries hold gold reserves to support their currency in cases of hyperinflation or other economic crises.

Though holding gold reserves is a luxury every nation would like to afford, less than 100 countries have substantial gold reserves. Just five countries hold the majority of the 35,000 tonnes of the world’s gold reserves. Only 34 nations have over 100 tonnes of gold reserves on hand.

To determine the countries that control the world’s gold, 24/7 Wall St. reviewed data on gold reserves by country in tonnes (metric tons) as of February 2021 from the World Gold Council

Unsurprisingly, many of the countries on this list rank as the wealthiest in the world. These are the richest counties in the world.

Click here to see the countries that control the world’s gold.
Click here to see our detailed methodology.

Bank of America's head of rates sales in the US is leaving the firm

  • Bank of America’s head of rates sales in the Americas is leaving the firm.
  • Andrew Isaacs, who joined BofA in 2013, resigned this week, sources told Insider.
  • It wasn’t immediately clear where the 25-year industry veteran was headed.
  • See more stories on Insider’s business page.

Bank of America’s US head of rates sales is leaving the firm, according to people familiar with the matter. 

Andrew Isaacs, a 25-year industry veteran, resigned from his position leading rates sales in the Americas this week, two sources told Insider. He’d been with the firm for eight years. 

Isaacs’ destination wasn’t immediately clear. He did not respond to requests for comment.

A Bank of America spokesman declined to comment. 

Isaacs’ career started out at Morgan Stanley in 1996, according to FINRA records, and he bounced around between Lehman Brothers, Deutsche Bank, and Barclays in interest rate derivatives sales before landing at Deutsche Bank in 2004.

He stayed at the firm for nine years before leaving for Bank of America in 2013. 

Get the latest Bank of America stock price here.

Idaho governor signs 'fetal heartbeat' bill banning abortions after 6 weeks

  • Idaho Gov. Brad Little signed HB 366, a ‘fetal heartbeat’ bill, which bans abortions after 6 weeks. 
  • See more stories on Insider’s business page.

Idaho Gov. Brad Little signed HB 366, a ‘fetal heartbeat’ bill, into law. The measure bans abortions after 6 weeks. The legislation includes exceptions in cases of medical emergencies and pregnancies resulting from rape or incest.

The law will not go into effect immediately and will only go into effect if a similar ban is upheld in Idaho courts. Planned Parenthood said it plans to sue if the law is upheld and goes forward.

This story is developing. Check back for updates.

Detroit Lions OT Taylor Decker says he won’t get a COVID-19 vaccine shot

The NFL is trying to incentivize players and team personnel to get vaccinated against COVID-19, but one prominent Detroit Lion said he has no plans to get inoculated.

"I did not get vaccinated and I’m not going to," Lions left tackle Taylor Decker said Tuesday. "I’m just not going to speak to the reasons why. I have my reasons. I don’t know, that’s such a hot button topic, but me personally, I just don’t feel like it’s the best thing for me so I’m not going to do it."

The NFL and the players association agreed that players will not be required to get vaccines to play this fall, but the two sides are encouraging everyone to get vaccinated.

ESPN reported last week that vaccinated players will not be required to quarantine if they are deemed a high-risk close contact of an infected person and will be able to bypass some of the protocols that were put in place last season to combat the coronavirus.

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Mondelez Q1 Profit Rises, Beats Estimates

Illinois-based confectionery manufacturer Mondelez International, Inc. (MDLZ), Tuesday reported a first-quarter profit of $961 million or $0.68 per share, compared to $736 million or $0.51 per share in the previous year.

Excluding one-time items, the earning per share was $0.77, beating an average estimate of $0.69 by 19 analysts polled by Thomson Reuters.

Net revenue rose 8% to $7.2 billion from $6.7 billion last year. This trumped the analysts projected revenue estimate of $7.02 billion.

Looking forward, the company expects earnings per share of $0.87 for the second quarter. Analysts currently estimate earnings of $0.65 per share. The company expects the net revenue to increase 2% in the second quarter, while the analysts currently expect $6.41 billion.

UDR Q1 Profit Down, Lowers FY Outlook

UDR, Inc. (UDR) Tuesday reported first-quarter net income of $2.05 million or $0.01 per share, down from $4.16 million or $0.01 per share last year.

Funds from operations for the quarter was $102.3 million or $0.23 per share, down from $169.8 million or $0.53 per share last year.

Revenues for the quarter dropped to $301.4 million from $321.5 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.01 per share and revenues of $301.75 million for the quarter. Analysts’ estimates typically exclude one-time items.

For the second quarter, the company expects earnings of $0.01 to $0.03 per share and FFO of $0.47 to $0.49 per share. Analysts currently estimate the company to report breakeven per share.

For the full year 2021, the company now expects earnings of $0.04 to $0.13 per share and FFO of $1.76 to $1.85 per share. Analysts currently estimate loss of $0.02 per share.

Previously, the company expected earnings of $0.13 to $0.25 per share and FFO of $1.87 to $1.99 per share for the full year.