Deutsche Telekom Q1 Profit Rises; Lifts FY Outlook

Taiwan may raise Covid alert level after cluster of 6 cases with no clear infection source

Taiwan may raise its Covid-19 alert level in "coming days," Health Minister Chen Shih-chung said on Wednesday, according to the official Central News Agency, which would lead to closure of shops dealing in non-essential items as infections rise.

On Tuesday, Taiwan announced plans to restrict public gatherings as a result of a cluster of six new cases with no clear infection source, an unusual outbreak for the island that had kept the pandemic well under control.

Describing the situation as "very serious," Chen told parliament the level could be lifted a notch to 3, limiting gatherings to five people indoors and 10 outdoors, as well as closing of non-essential businesses.

Later he told media a decision might come in "coming days."

President Tsai Ing-wen will hold a news conference on the coronavirus on Wednesday afternoon.

The benchmark stock index fell more than 8% on worries over the new cases, though infections are still relatively few.

Taiwan largely closed its borders early in the pandemic and has a robust contact tracing and quarantine system, keeping infections to 1,210, including 12 deaths, and allowing life to stay close to normal.

Although Taiwan has not previously ordered it, the highest alert level of 4 would trigger an effective lockdown, with people told to keep to home as much as possible.

Dialog Semiconductor Q1 Profit Surges, Revenue Up 47%

Dialog Semiconductor Plc. (DLGNF.PK,DLGS) Wednesday reported a 92 percent increase in first quarter net profit to $26.1 million, compared to last year’s profit of $13.6 million last year. On a per-share basis, earnings were $0.36, up from $0.19 a year ago.

Revenue for the quarter was $366 million, up 47 percent from the previous revenue of $249 million. The company noted that excluding the contribution of Adesto, revenue was 37 percent above last year’s first quarter.

Goldman Sachs manager quits after Dogecoin profit

Crypto expert agrees with Elon Musk gag: Dogecoin ‘is a hustle’

Director of research at D.A. Davidson Gil Luria comments on the state of crypto and Dogecoin nose dive.

A London based senior manager at Goldman Sachs has called it quits following a Dogecoin windfall.

Aziz McMahon, a managing director and head of emerging market sales, had resigned after reportedly making millions from his investment, according to The Guardian.

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The cryptocurrency has risen by more than 1,000% in value this year and gets celebrity support from people such as Tesla founder Elon Musk.

Dogecoin rose above $0.72 against the dollar ahead of Musk'sappearance on Saturday Night Live.

The cryptocurrency dropped more than 30% since Musk’s appearance to about $0.50, according to Coindesk. 

'SNL' WEEKEND UPDATE ANCHORS ASK ELON MUSK: ‘WHAT IS DOGECOIN?’

It is not known exactly how much money McMahon made from the investment., however sources tell The Guardian it was substantial.

The banker did not respond to The Guardian's request for comment.

Aziz was not involved in trading cryptocurrencies for Goldman Sachs.

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Goldman Sachs opened a bitcoin trading desk last week, in a move reversing a 2018 decision to stay out of the market.

Bayer Q1 Net Income Surges 40.3%

Bayer Group (BAYZF.PK,BAYRY.PK,BYR.L) reported a 40% growth in first-quarter net income, reflecting encouraging sales growth in Crop Science Division.

Group sales in the first quarter amounted to EUR 12.3 billion compared to EUR 12.8 billion generated last year.

Net income rose by 40.3% to EUR 2.089 billion from EUR 1.489 billion reported a year ago. On a per share basis, earnings totaled EUR 2.13 versus EUR 1.52 in the same period of last year.

Core earnings per share from continuing operations fell by 3.0% to EUR 2.59 from EUR 2.67 in the prior year period.

CEO Werner Baumann, said, “Our Crop Science Division achieved encouraging sales growth in an improved market environment. Sales at Pharmaceuticals were steady, and in the Consumer Health Division we performed better than the competition.”

Deutsche Telekom Q1 Profit Rises; Lifts FY Outlook

Deutsche Telekom (DTEGY.PK) reported that its first-quarter net profit rose 2.2 percent to 936 million euros from the prior year.

But adjusted net profit declined 6.5 percent to 1.2 billion euros from the prior year, reflecting higher interest expenses, higher depreciation, amortization and impairment losses, and higher non-controlling interests.

Net revenue increased 32.3 percent year-over-year to 26.4 billion euros.

Adjusted EBITDA AL rose by 41.3 percent to 9.2 billion euros, driven mainly by the acquisition of Sprint in the United States. In organic terms, i.e., adjusted for changes in the composition of the Group and exchange rate effects, revenue increased by 7.1 percent and adjusted EBITDA AL by 8.3 percent.

The Group has raised its full-year guidance for 2021. Outside of the United States, Deutsche Telekom now expects adjusted EBITDA AL of around 14.4 billion euros, up from the previous guidance of around 14.3 billion euros, and free cash flow AL of around 3.6 billion euros, up from 3.5 billion euros.

Together with the guidance for T-Mobile US, which was raised at the beginning of the month, this means that the Deutsche Telekom Group now expects free cash flow AL to exceed the 8-billion-euro mark, up from the original planning of around 8 billion euros. Adjusted EBITDA AL is expected to exceed 37 billion euros, up from the previous guidance of around 37 billion euros.