Chicago Business Barometer Indicates Slightly Slower Growth In October
Chicago-area business activity saw continued growth in the month of October, according to a report released by MNI Indicators on Friday, although the pace of growth slowed modestly.
MNI Indicators said its Chicago business barometer edged down to 61.1 in October after spiking to 62.4 in September. Economists had expected the index to dip to 58.0.
Despite the modest decrease, the reading above 50 indicates growth in Chicago-area business activity for the fourth straight month.
The pullback by the business barometer was partly due to a notable decrease by the production index, which slumped by 5.9 points.
The employment index also backtracked in October and was the only major category to record a sub-50 reading, with firms noting staff reductions as a result of the pandemic.
On the other hand, MNI Indicators said demand picked up modestly in October, with the new orders index inching up 0.2 points to its highest level since November 2018.
The report said prices at the factory gate were stable in October, as firms reported higher prices for wood, steel and chemicals.
New York Post Shifts Tone on Trump as a Top Editor Plans His Own Exit
Rupert Murdoch’s tabloid has turned critical as the president seems headed to defeat. Col Allan, a wizard there, says he plans to retire next year.
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NortonLifeLock Inc. Q2 adjusted earnings Beat Estimates
NortonLifeLock Inc. (NLOK) released earnings for second quarter that declined from last year.
The company’s earnings totaled $64 million, or $0.11 per share. This compares with $785 million, or $1.22 per share, in last year’s second quarter.
Excluding items, NortonLifeLock Inc. reported adjusted earnings of $215 million or $0.36 per share for the period.
Analysts had expected the company to earn $0.33 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 3.0% to $626 million from $608 million last year.
NortonLifeLock Inc. earnings at a glance:
-Earnings (Q2): $215 Mln. vs. $116 Mln. last year.
-EPS (Q2): $0.36 vs. $0.18 last year.
-Analysts Estimate: $0.33
-Revenue (Q2): $626 Mln vs. $608 Mln last year.
Next quarter EPS guidance: 0.36 to $0.38
Next quarter revenue guidance: $625 to $635 mLN
Updated Bajaj CT100 launched
Bajaj has launched an updated CT100 kick-start variant at ₹46,432. Priced around ₹2,000 more than the model it replaces, the updated CT100 gets eight new features. Among them are the new tank grips — an old-school feature that is making a comeback — new fork gaiters, a cross tube on the handlebar, a larger grab handle and clear-lens indicators. However, the new feature that will be the most appreciated is the fuel gauge. When the CT100 made the switch to BS6 back in January, it also got black finish on components such as the engine casing, chain cover, and fork, and not a silver one like on the BS4 model. Those changes can be seen on this update as well.
Bajaj has also discontinued the electric-start variant of the CT100.
Derwent London Says Office Rent Collection For September Quarter Day Rises To 89%
Derwent London plc (DLN.L), a London-focused real estate investment trust or REIT, said Thursday that office rent collection for the September quarter day increased to 89 percent from 83 percent when last reported on 13 October 2020. Total portfolio rent collection for the same period increased to 86 percent from 80 percent.
Providing a portfolio update for the third quarter, the company said that 16 million pounds of leases were extended since June, with another 5 million pounds under offer.
“As we enter a second national lockdown in response to the global Covid-19 pandemic, we continue to work closely with our occupiers, business partners and communities. The significant operational progress made in the third quarter and the Group’s strong financial position give us the confidence to commit to our next major development at 19-35 Baker Street,” said Paul Williams, Chief Executive of Derwent London.
America Votes, Canada Fidgets
Canadians have been ripping their cuticles off while they wait for the United States to pick its next president.
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Eurozone Q3 GDP Expands Most On Record
The euro area economy expanded at the fastest pace on record in the third quarter after shrinking sharply in the preceding period due to the restrictions imposed to contain the spread of coronavirus, preliminary flash estimate from Eurostat showed Friday.
Gross domestic product expanded 12.7 percent on quarter, this was the sharpest growth seen since the series started in 1995. Economists had forecast a quarterly growth of 9.4 percent after falling 11.8 percent in the second quarter.
On a yearly basis, GDP fell 4.3 percent after easing 14.8 percent in the second quarter. GDP was forecast to decline 15 percent.
The EU27 grew 12.1 percent sequentially but fell 3.9 percent from the same period last year.
Among member countries, France recorded the highest increase of 18.2 percent compared to the previous quarter, followed by Spain and Italy. Germany grew 8.2 percent.
Eurostat is set to release next estimate on November 13.
Consumer price data released today showed that inflation remained negative for a third month in October. The harmonized consumer price index decreased 0.3 percent, same as in September.
“The strong third quarter GDP figure will not make much of an impression as a new downturn is almost certainly upon us,” Bert Colijn, an ING economist.
With inflation remaining very weak and GDP set to fall again in the fourth quarter, the ECB has started to work on a new monetary stimulus package, the economist added.
Another communiqué from Eurostat revealed that the jobless rate was unchanged at 8.3 percent in September.