H.B. Fuller Q4 Profit Rises

A Mexican company is turning leftover avocado pits into biodegradable silverware

  • Last year, Americans consumed over 6 billion avocados, leaving behind tons of inedible pits that turn into food waste. 
  • The Mexican company Biofase converts around 130 tons of avocado seeds a month into forks, knives, spoons, and straws.
  • The company claims its bioplastic food products have a lower carbon footprint than any other comparable material — even paper.
  • Visit Business Insider's homepage for more stories.

Merkel Welcomed U.S. Return to WHO in Call With Biden

German chancellor Angela Merkel in a telephone call with president Joe Biden welcomed the decision by the new U.S. administration to return to the World Health Organization and the Paris climate agreement.

They agreed more international efforts are needed to combat the fallout of the Covid-19 pandemic, Merkel’s spokesman Steffen Seibert said in an emailed statement on Monday. Germany is ready to take over responsibility in joint tasks with its European and transatlantic partners, according to the statement.

Merkel and Biden also discussed foreign policy matters including Afghanistan, Iran and global trade. Merkel invited Biden to visit Germany once pandemic-related travel restrictions ease.

EARNINGS SUMMARY: Details of Hexcel Corp. Q4 Earnings Report

Below are the earnings highlights for Hexcel Corp. (HXL):

-Earnings: -$19.4 million in Q4 vs. $73.2 million in the same period last year.
-EPS: -$0.23 in Q4 vs. $0.86 in the same period last year.
-Analysts projected -$0.18 per share
-Revenue: $295.8 million in Q4 vs. $564.3 million in the same period last year.

Amazon moves Delhi High Court, seeks arrest of Biyani

E-tailer wants Reliance deal stopped

U.S. online retailer Amazon has filed a petition in the Delhi High Court seeking detention of Future Group founders, including CEO Kishore Biyani, and seizure of their assets as it sought to block Future Group from selling retail assets to Reliance Industries.

In the petition, Amazon sought enforcement of the Singapore arbitrator’s ruling in October against its partner Future’s ₹24,713-crore deal with Reliance.

Amazon sought the Biyani family to be directed to ‘disclose their assets, including movable and immovable property’ and the same be attached.

Also, it sought ‘detention’ of Mr. Biyani, his daughter Ashni and seven other members of the founder family as well as three other officials, including a company secretary of the Group.

Amazon, which wants the deal to sell retail assets to Reliance to be stopped, also asked the court for a direction for “detention of the directors (of Future Group entities) in civil prison.”

EARNINGS SUMMARY: Details of Steel Dynamics Q4 Earnings Report

Steel Dynamics (STLD) announced earnings for its fourth quarter that climbed from the same period last year.

The company’s profit came in at $187.84 million, or $0.89 per share. This compares with $121.43 million, or $0.56 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 10.6% to $2.60 billion from $2.35 billion last year.

Steel Dynamics earnings at a glance:

-Earnings (Q4): . vs. . last year.
-Analysts Estimate: $0.83
-Revenue (Q4): $2.60 Bln vs. $2.35 Bln last year.

Mexican Billionaire Carlos Slim Has Covid-19 With Mild Symptoms

Billionaire Carlos Slim has had Covid-19 for over a week and is doing well, his son tweeted Monday.

Mexico’s richest man went to a public hospital for tests and to be monitored, his son Carlos Slim Domit said. Family spokesman and son-in-law Arturo Elias Ayub confirmed his diagnosis.

The 80-year-old, whose birthday is Jan. 28, has experienced mild symptoms, Elias Ayub said. The news comes a day after Mexico President Andres Manuel Lopez Obrador said he wasinfected with Covid-19. Cases and deaths in Mexico broke records last week.

“He’s had a very favorable evolution to Covid over a week after what have been mild symptoms,” Slim Domit said.

Slim is the world’s 23rd-richest person with a $55 billion fortune, according to the Bloomberg Billionaires Index. The bulk of his wealth derives from telecommunications giant America Movil SAB.

Apple Says Hardware Chief Riccio to Transition to New Role

Apple Inc. said top hardware executive Dan Riccio is stepping down from his role to lead a new project at the company and John Ternus, one of his top lieutenants, will replace him.

As senior vice president of hardware engineering, Riccio oversaw the engineering of the iPhone, iPad, Mac and other products. Ternus will inherit those responsibilities. Riccio is taking on a new, unspecified project and will report to Chief Executive Officer Tim Cook, Apple said Monday in astatement.

H.B. Fuller Q4 Profit Rises

H.B. Fuller Company (FUL) Wednesday reported fourth-quarter net income of $40.6 million or $0.77 per share from $32.2 million or $0.61 per share last year.

Adjusted earnings for the quarter rose to $1.06 per share from $0.88 per share last year.

Revenues for the quarter rose to $777.6 million from $739.1 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.85 per share on revenues of $734.32 million for the quarter.