DeJoy defends actions: Postmaster grilled by Democratic-led panel
Appearing before politicians, US Postmaster General Louis DeJoy defended his decision to introduce cost-saving measures to the USPS ahead of November’s poll.
The US postmaster general has assured Congress the operational changes to the postal service will not affect mail-in voting for this year’s presidential election.
Louis DeJoy was back before Congress on Monday, this time before a House panel investigating recent delays in deliveries.
Al Jazeera’s Heidi Zhou-Castro reports from Washington, DC.
Hain Celestial Q4 Adj. Profit From Cont. Ops. Rises – Quick Facts
The Hain Celestial Group, Inc. (HAIN) reported fourth quarter adjusted earnings per share from continuing operations of $0.32 compared to $0.19, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27, for the quarter. Analysts’ estimates typically exclude special items. Adjusted EBITDA was $62.2 million compared to $49.4 million.
Fourth quarter net sales increased 1% to $511.7 million, or 3% on a constant currency basis, compared to the prior year period. When adjusted for Foreign Exchange, Divestitures, discontinued brands and Stock Keeping Unit rationalization, net sales increased 7% from last year. Analysts expected revenue of $511.04 million for the quarter.
Markets end with modest gains; financial stocks extend rally
Traders said despite a largely positive trend in global equities, domestic investors were cautious amid lack of directional cues
Equity benchmarks Sensex and Nifty closed in the green for the third straight session on Tuesday, propelled by financial stocks amid firm global cues.
After a choppy session, the BSE index ended 44.80 points or 0.12% higher at 38,843.88.
The NSE Nifty inched up 5.80 points or 0.05% to close at 11,472.25.
Bajaj Finance was the top gainer in the Sensex pack, rallying over 4%, followed by SBI, Tech Mahindra, Asian Paints, Bajaj Finserv, IndusInd Bank, ICICI Bank and M&M.
On the other hand, NTPC, Sun Pharma, Nestle India, Tata Steel and L&T were among the laggards.
Traders said despite a largely positive trend in global equities, domestic investors were cautious amid lack of directional cues.
Bourses in Tokyo and Seoul ended with gains, while Shanghai and Hong Kong finished in the red.
Stock exchanges in Europe were trading on a positive note in early deals.
Global oil benchmark Brent crude was trading 0.39% higher $45.82 per barrel.
In the forex market, the rupee ended on a flat note at 74.33 against the U.S. dollar.
Meanwhile, earlier in the day, the Reserve Bank of India said it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of ₹20,000 crore in two tranches.
Children’s Place Posts Adj. Loss In Q2; Net Sales Down 12.3% – Quick Facts
The Children’s Place, Inc. (PLCE) reported a second quarter adjusted loss per share of $1.48, compared to adjusted net income per share of $0.19, last year. On average, nine analysts polled by Thomson Reuters expected the company to report a loss per share of $1.14, for the quarter. Analysts’ estimates typically exclude special items.
Second quarter net sales decreased 12.3% to $368.9 million, primarily as a result of the impact of temporary store closures, along with a decrease in back to school sales beginning in mid-July, partially offset by increased digital sales. Analysts expected revenue of $365.21 million, for the quarter.
“Due to the large majority of schools adopting remote or hybrid learning models for the start of the school year, our back to school sales have been significantly impacted and we anticipate a meaningful negative impact on our Q3 results.” Jane Elfers, CEO, said.
As of August 1, 2020, the company had 771 of its 824 stores open to the public in the U.S., Canada and Puerto Rico, with the majority of the closed stores located in California. As of August 1, 2020, the company had approximately $36.1 million of cash and cash equivalents with no long-term debt, and $250.8 million outstanding on its revolving credit facility.
Shares of Children’s Place, Inc. were down 9% in pre-market trade on Tuesday.
Mexican wrestlers improvise as industry struggles amid COVID-19
Coronavirus outbreak in Mexico has not stopped a group of lucha libre wrestlers from wanting to get back into the ring.
Mexico has one of the highest coronavirus death rates in the world and it has had more than 500,000 confirmed infections.
A group of lucha libre wrestlers took their sport to Mexico’s “floating gardens” of Xochimilco to try to revive this spectacle and promote the economic recovery of the sport.
Lucha libre is an integral part of Mexican popular culture, but like many activities, it is now facing financial disaster because of the coronavirus pandemic.
Al Jazeera’s Lucia Newman reports.
Facebook Launches Educator Hub To Help Teachers
Facebook has unveiled Educator Hub to support teachers in their efforts to connect with students as coronavirus has forced majority of them to stay home during the back-to-school season.
The social media giant’s new initiative is designed to help teachers build their online community and find resources for the classroom.
The Educator Hub features free digital literacy program Get Digital. It includes lesson plans, conversation starters, activities, videos and other tools to help young people develop digital skills.
The Educator Hub also includes anti-racism resources that will help teachers to have important conversations with students about racial inequities. It includes information and guides from education organizations to help kids understand racial justice issues in the news, and to help parents and educators talk to young students about race. Anti-Racism Guides will also be shared on Instagram.
It also features Pressure to be Perfect, a free online resource developed in collaboration with the JED Foundation to support positive teen expression on Instagram.
In addition, well-being tips in COVID-19 Information Center as well as wellness resources from trusted partners and experts will be shared in the Educator Hub during these time of isolation and uncertainty.
The new initiative was created as Facebook reported a significant surge in homeschooling Groups amid Covid-19. More than 2,000 new homeschooling Groups were created in March alone, 8 times more than the month prior, the company noted.