Barr testifies at House Judiciary Committee hearing: live updates

Nearly one-third of Bangladesh affected by monsoon floods

After losing their homes and livelihoods, hundreds of thousands in Bangladesh wait for help amid rising floodwaters.

Nearly one-third of Bangladesh is currently affected by flooding, leaving two million people needing help.

Many of those displaced are living in temporary shelters, while others are being forced to take refuge near highways or bridges.

More than 100 people have died so far. Health officials say thousands have fallen victim to water-borne diseases.

The government says it is prepared to deal with the situation.

Al Jazeera’s Tanvir Chowdhury reports from Savar, Bangladesh.

First BanCorp. Q2 Profit Tops Estimates – Quick Facts

First BanCorp. (FBP), the bank holding company for FirstBank Puerto Rico, reported second quarter adjusted earnings per share of $0.10 compared to $0.18, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.06, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter net interest income declined to $135.21 million from $142.55 million, prior year. Non-interest income was $20.89 million compared to $22.22 million. Analysts expected revenue of $139.41 million for the quarter.

Separately, First BanCorp. announced it has received the requisite regulatory approvals to consummate the acquisition of the Puerto Rico operations of Banco Santander Puerto Rico. Subject to the satisfaction of the remaining customary conditions to closing, the Corporation expects to complete the acquisition by September 1, 2020.

Stock Alert: Harley-Davidson Falls 9% As Q2 Results Miss Expectations

Shares of Harley-Davidson, Inc. (HOG) are losing more than 9 percent or $2.66 in Tuesday’s morning trade at $26.62 after the motorcycle maker’s second-quarter results missed analysts’ expectations.

Tuesday, Harley-Davidson reported second-quarter net loss of $92.22 million or $0.60 per share, compared to net income of $195.63 million or $1.23 per share in the same period last year. Adjusted loss was $0.35 per share, while the average estimate of analysts polled by Thomson Reuters was for earnings of $0.03 per share.

Motorcycles and related products revenue fell to $669.27 million from $1.43 billion a year ago. The Street expected revenues of $808.46 million.

The company said it is not providing financial outlook for fiscal 2020 due to the uncertainty surrounding the impact of the COVID-19 pandemic.

Harley-Davidson has traded in a range of $14.31 to $40.89 in the past 52 weeks.

Russia’s En+ Wants Half of Office Staff to Work at Home by 2025

En+ Group International PJSC, a power and aluminum group founded by billionaire Oleg Deripaska, plans to shift half its office employees to remote working by 2025 after the coronavirus pandemic lockdown showed it was an effective model.

While most of the group’s 90,000 employees work at industrial sites that span Siberian hydropower stations to aluminum smelters run byUnited Co. Rusal, En+ said the move will allow about 7,400 people to work from home, either partially or on a full-time basis. The shift in office workers will cut costs, although the savings have yet to be evaluated, according to Chief Financial Officer Mikhail Khardikov.

En+ has looked at what it can learn from the lockdown and this could be a win-win outcome, En+ Chairman Gregory Barker said in a phone interview.

“This gives our employees optionality and adds the flexibility to have a 21st century work-life balance,” Barker said.

With the growth in new Covid-19 cases slowing in Russia, many companies brought back employees to offices this month. However, Gazprombank PJSC is among lenders considering allowing staff to continue working from home after saying that has proved effective.

— With assistance by Anna Baraulina

Stock Alert: Polaris Shares Hit 52-Week High

Shares of Polaris Inc. (PII) hit a 52-week high of $107.99 Tuesday morning, after the company reported a better-than-expected Q2 results and re-initiated its fiscal 2020 guidance. The stock has been trading in the range of $37.35 – $107.99 for the past one year, and is currently trading at $107.07, up $9.10 or 9.29% Tuesday morning.

Second-quarter net loss was $235.4 million or $3.82 per share compared to a profit of $88.2 million or $1.42 per share last year.

Adjusted earnings per share was $1.30 compared to $1.73, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.63, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter sales were $1.51 billion, down 15% from reported sales of $1.78 billion, previous year. Analysts expected revenue of $1.37 billion for the quarter.

The company re-initiated its sales and adjusted earnings guidance for full year 2020. Adjusted net income per share is projected to be in the range of $6.40 – $6.60. Sales are now expected to be in the range of $6.650 billion – $6.750 billion. Wall Street analysts estimate earnings of $3.88 per share on revenue of $6.1 billion for fiscal 2020.

Barr testifies at House Judiciary Committee hearing: live updates

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Attorney General William Barr is testifying before the House Judiciary Committee on Tuesday, where he is speaking about topics ranging from the Russia investigation to recent protests and rioting across the country.

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