World News

Hong Kong interbank rates rise ahead of huge Alibaba listing

NetApp earnings turn around, shares head higher in late trading

NetApp Inc. NTAP, -0.12% reported an increase in earnings from a year ago Wednesday after a big drop in the previous quarter, exceeding expectations and sending shares higher in after-hours trading. NetApp reported fiscal second-quarter earnings of $243 million, or $1.03 a share, on sales of $1.37 billion, down from $1.52 billion a year ago. After adjusting for stock-based compensation and other effects, the company reported earnings of $1.09 a share, up from $1.06 a share in the same quarter last year. Analysts on average expected adjusted earnings of 94 cents a share on sales of $1.38 billion, according to FactSet. NetApp stock closed with a 0.7% decrease at $60.07, then gained slightly in immediate extended trading after the results were released. NetApp shares have declined roughly 24% in the past 12 months, as the S&P 500 index SPX, +0.07% has gained 13.6%.

Beazer Homes USA Inc. Profit Falls In Q4

Beazer Homes USA Inc. (BZH) announced earnings for fourth quarter that fell from last year.

The company’s bottom line came in at $2.5 million, or $0.08 per share. This compares with $60.5 million, or $1.83 per share, in last year’s fourth quarter.

The company’s revenue for the quarter rose 1.8% to $781.70 million from $767.95 million last year.

Beazer Homes USA Inc. earnings at a glance:

-Earnings (Q4): $2.5 Mln. vs. $60.5 Mln. last year.
-EPS (Q4): $0.08 vs. $1.83 last year.
-Revenue (Q4): $781.70 Mln vs. $767.95 Mln last year.

New variable speed limit signs rolled out at the mouth of the Fraser Valley

New digital variable speed limit signs are coming to one of the key portals to the Lower Mainland.

The Ministry of Transportation says the new system will begin operation in the coming days on a short section of Highway 3 near Hope.

The province says it has installed four of the variable speed signs along seven kilometres of the highway between Hope and the Coquihalla-Highway 3 junction.

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Huntsville OPP investigating theft of camper trailer

Huntsville OPP say they’re investigating the theft of a camper trailer.

According to police, the theft occurred from a property on Lone Pine Drive in Huntsville.

It’s believed the trailer was stolen on Oct. 31, between the hours of 8 a.m. and 7 p.m.

Officers say anyone with information can contact the Huntsville OPP at 1-888-310-1122 or Crime Stoppers anonymously at 1-800-222-8477.

Cloverdale pastor found guilty on one sex charge, wife acquitted

A Cloverdale pastor has been found guilty on one count of sexual assault, while his wife has been acquitted on all counts.

Samuel Emerson was a pastor at Cloverdale Christian Fellowship Church for eight years.

Emerson had initially faced 13 counts of sexual assault, 11 counts of being in a position of authority and touching a person for a sexual purpose and one count of sexual touching of a person under the age of 16.

U.S. House panel defeats motion to compel whistleblower testimony in impeachment probe

WASHINGTON (Reuters) – U.S. House of Representatives Intelligence committee Democrats defeated a Republican bid on Wednesday to issue a subpoena to compel testimony in the impeachment investigation of President Donald Trump from the whistleblower whose complaint sparked the probe.

Committee members voted along party lines by 13-9 to defeat the motion offered by Republican Representative Mike Conaway, at the end of the first day of public testimony in the impeachment inquiry.

Death toll rises to 4 from Australian wildfire crisis

The death toll for wildfires raging across Australia’s most populous state has risen to four with a man’s body found in a scorched forest in northeast New South Wales.

Police say the body was found northwest of the town of Kempsey before midnight on Wednesday. He is suspected to be a 58-year-old who lived in a nearby shed.

Black-clad man dies in Hong Kong; unclear if death related to protests – police

HONG KONG (Reuters) – A man dressed in black and aged in his 30s has died in Hong Kong, police said. It was not clear if his death was related to ongoing protests in the Chinese-ruled city.

Initial investigations showed the man fell from a height in the district of Tsing Yi in the New Territories and there were no suspicious circumstances, police said late on Wednesday.

Islamic Jihad says Israel agreed to ceasefire, Gaza quiet

GAZA (Reuters) – Palestinian militant group Islamic Jihad said an Egyptian-mediated truce with Israel was in force in the Gaza Strip as of 0330 GMT on Thursday, and a Reuters witness confirmed that fighting had subsided.

An Islamic Jihad official told Reuters that Israel had agreed to the faction’s demand that it cease targeted killings of militants and shooting of Gaza border protesters. There was no immediate confirmation of this from Israeli officials.

Hong Kong interbank rates rise ahead of huge Alibaba listing

HONG KONG, Nov 14 (Reuters) – The Hong Kong Interbank Offered Rate (HIBOR) rose across the curve on Thursday after Chinese e-commerce giant Alibaba Group launched a $13.4 billion listing in the city.

The one-week rate rose to 3.1%, the two-week tenor to 3.34%, and the one-month rate to 2.75% – their respective four-month highs.

Alibaba Group launched its Hong Kong secondary share sale on Wednesday, braving unrest in the global financial hub to fund its expansion plans. The stock is due to start trading on Nov. 26, according to a term-sheet seen by Reuters.