Gold Eases As Dollar Firms Up For Second Day

Toshiba Corp. Reports Net Profit In 9-month; Net Sales Down 15%

Toshiba Corp. (TOSYY.PK,TOSBF.PK) reported net income to shareholders of 43.6 billion yen for the nine months ended December 31, 2020 compared to a loss of 145.6 billion yen, previous year. Profit per share was 96.15 yen compared to a loss of 294.60 yen.

For the nine month period, net sales were 2.10 trillion yen compared to 2.46 trillion yen, last year.

For fiscal 2020, the company now expects: net sales of 3.07 trillion yen; and net income of 70 billion yen.

Victrex Plc Issues Q1 Interim Management Statement – Quick Facts

Victrex plc (VCT.L) reported first quarter Group revenue of 68.7 million pounds, 1% ahead of prior year. Sales volume were 883 tonnes, 1% ahead of last year. Net cash was 84.4 million pounds at 31 December 2020. Victrex noted that although first quarter was slightly ahead of expectations, performance remains variable by end market.

Jakob Sigurdsson, Chief Executive of Victrex, said: “The incremental improvement trend may remain variable and our assumptions are that we will still see a weaker first half overall, compared to H1 2020 which ended strongly. Consequently, at this early stage, our full year expectations are unchanged.”

Credit Suisse offers coronavirus tests for staff – paper

ZURICH, Feb 12 (Reuters) – Credit Suisse is offering free coronavirus tests to all of its staff who do not work from home, Swiss newspaper Tages-Anzeiger reported on Friday.

Although the majority of bank’s employees are currently working from home, around 15% are still working at company premises. These can now have voluntary and free saliva tests, as a precautionary measure, a bank spokesman told the newspaper.

Olympus 9-month Profit From Cont. Ops. Declines; Revenue Down 8.5% – Quick Facts

Olympus Corp. (OCPNY.PK) reported profit attributable to owners of parent of 1.6 billion yen for the nine months ended December 31, 2020, compared to 59.1 billion yen, prior year. Earnings per share was 1.26 yen compared to 44.74 yen. Profit per share from continuing operations declined to 41.91 yen from 49.59 yen.

For the nine month period, revenue from continuing operations was 513.6 billion yen, a decline of 8.5 percent from previous year.

For the fiscal year ending March 31, 2021, the company expects: basic earnings per share of 6.61 yen; and revenue of 720 billion yen.

ING Group Q4 Net Result Down – Quick Facts

ING Group (ING) reported that its fourth-quarter net result declined to 727 million euros from 880 million euros last year.

Total income for the quarter was 4.17 billion euros, down from 4.44 billion euros in the prior year.

Net interest income for the quarter declined to 3.34 billion euros, from the prior year’s 3.60 billion euros. It was impacted by margin pressure on liabilities, while average liability volumes continued to increase.

ING proposes to pay an interim cash dividend of 0.12 euros per share, in line with the recommendation of the European Central Bank to not pay more than 15% of net profit, adjusted according to the ECB definition, before 1 October 2021.

The remaining amount reserved in 2020 for distribution will be distributed after 30 September 2021, subject to AGM approval and prevailing ECB recommendations.

Freedom of Information, the Trade Bill and Genocide

Adam Boulton and guests discuss the cabinet’s messaging on summer holidays and the recent parliamentary rows over Freedom of Information and genocide.

What links the Trade Bill and the government’s position on genocide and why have newspapers formed an alliance to raise concerns about FoI requests?

Joining Adam this week are the Labour MP for Rhondda Chris Bryant, the Mail on Sunday’s deputy political editor Anna Mikhailova and Sky’s chief political correspondent Jon Craig.

Subscribe to the All Out Politics podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker

Rachel Maddow Spots The ‘Most Jarring’ Argument From Trump’s Impeachment Trial

MSNBC’s Rachel Maddow on Thursday named the argument for convicting Donald Trump that stood out to her following the third day of the ex-president’s impeachment trial for inciting the U.S. Capitol riot on Jan. 6.

“I think the most jarring argument today was the argument that we heard in different ways from multiple House managers that there’s really no reason to think the threat is over, particularly if senators vote to acquit the former president and thereby assure there are no consequences for him from having done this,” she said.

House impeachment managers rested their case against Trump on Thursday.

Maddow suggested an acquitted Trump would “of course” try to pull the same stunt again.

“I mean, why wouldn’t he?” she asked.

“The country is talking about this and trying to contend with this as an incredible tragedy, as a disaster of magnificent consequences for our country and for our democracy, including as I said for our standing in the world,” Maddow continued. “But there’s no sign that President Trump sees it that way at all. There’s no sign he has any problem at all with the fact he did this once already.”

RELATED…

Gold Eases As Dollar Firms Up For Second Day

Gold prices eased on Friday even as signs of weakness in the U.S. jobs market dented investor expectations about the pace of economic recovery.

Spot gold dipped 0.4 percent to $1,818.47 per ounce, while U.S. gold futures were down half a percent at $1,818.10.

The dollar edged higher against a basket of major currencies for a second session, but headed for its first losing week in three on doubts about the strength of the U.S. economic recovery.

U.S. weekly jobless claims fell less than expected and core consumer prices rose at a slower pace, causing some traders to temper their optimism about the economic outlook.

Last week’s nonfarm payrolls data showed the world’s largest economy added a meager 49,000 jobs in January, signaling the ongoing fragility of the recovery.

Federal Reserve Chairman Jerome Powell said Wednesday, a “patiently accommodative monetary policy stance” is important to boost the labor market and the overall economy following a stall in recent months.