(RTTNews) - China's consumer price inflation eased to a seven-month low in April and producer prices declined further reflecting weak domestic demand despite subsiding coronavirus pandemic, official data revealed Tuesday. Consumer price inflation slowed notably to 3.3 percent in April from 4.3 percent in March, according to data published by the National Bureau of Statistics. This was the weakest since October 2019 and also slower than economists' forecast of 3.7 percent. Food prices advanced 14.8 percent and non-food prices moved up 0.4 percent. Pork prices, main source of food inflation, grew 96.9 percent but slower than March's 116.4 percent. Core inflation, which excludes food and energy prices, slowed marginally to 1.1 percent from 1.2 percent in March. On a monthly basis, consumer prices fell 0.9 percent, bigger than March's 1.2 percent decrease. This was the second consecutive drop in prices. Another report from NBS showed that producer prices decreased 3.1 percent year-on-year in April after falling 1.5 percent in March. Economists had forecast an annual fall of 2.6 percent. Compared to March, producer prices were down 1.3 percent. Price pressures are likely to ease further in the coming months, strengthening the case for additional monetary easing, Julian Evans-Pritchard, an economist
Dr. Amanda Vincent becomes first marine conservationist to win Indianapolis Prize INDIANAPOLIS, May 12, 2020 /PRNewswire/ -- Today officials from the Indianapolis Prize announced Amanda Vincent, Ph.D., as the 2020 Winner of the world's leading award for animal conservation. Vincent is the preeminent authority on seahorse ecology and conservation. A self-proclaimed "ocean optimist," Vincent, a professor at the Institute for the Oceans and Fisheries at The University of British Columbia, where she directs Project Seahorse, was the first biologist to study seahorses in the wild, document their extensive trade and establish a project for their conservation. "Dr. Amanda Vincent's determination to protect our oceans and the species that inhabit it is nothing short of heroic," said Dr. Rob Shumaker, President and CEO of the Indianapolis Zoological Society, Inc., which presents the Indianapolis Prize every other year. "Dr. Vincent brings a collaborative, culturally sensitive and solutions-focused approach to ocean conservation. She inspires people to action and drives positive outcomes for marine species. It's our privilege to recognize and reward her for her immeasurable impact on ocean conservation and the future of seahorses around the world." Vincent has dedicated her career to understanding and advocating for seahorses, which serve as flagship species
(RTTNews) - Hyatt Hotels Corp. (H) said that it will implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020, due to drop in travel demand and the expected slow pace of recovery. The move will impact about 1,300 employees around the world. "COVID-19 has thrown our industry into unknown territory....it has become apparent that additional measures are necessary to meet this unprecedented challenge," said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. Laid off Hyatt employees will be eligible to receive severance pay, outplacement services, and benefits commensurate with their years of service. Employees experiencing pressing financial hardships may also seek financial support from the Hyatt Care Fund, the company said in a statement.
(RTTNews) - Logitech International (LOGI) reported that its fourth-quarter net income rose to $213.92 million or $1.26 per share from $42.12 million or $0.25 per share in the prior year. Non-GAAP earnings per share grew to $0.42 from $0.38 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items. GAAP operating income was $32 million, down 24 percent primarily due to a one-time, acquisition-related charge. Non-GAAP operating income grew 23 percent to $79 million, from the prior year. Sales were $709.25 million, up 14 percent in US dollars and 15 percent in constant currency compared to the prior year. Analysts expected revenue of $652.10 million for the quarter. Logitech confirmed its fiscal year 2021 outlook of mid single-digit sales growth in constant currency and $380 million to $400 million in non-GAAP operating income.
(RTTNews) - The China stock market has finished lower in wo of three trading days since the end of the three-day winning streak in which it had advanced almost 70 points or 2.5 percent. The Shanghai Composite Index now rests just beneath the 2,895-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is mixed to lower, with support from technology stocks offset by concerns for a renewed outbreak of Covid-19. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference. The SCI finished barely lower on Monday following mixed performances from the financial shares and property stocks. For the day, the index eased 0.54 points or 0.01 percent to finish at 2,894.80 after trading between 2,884.38 and 2,914.28. The Shenzhen Composite Index slid 4.43 points or 0.24 percent to end at 1,804.74. Among the actives, Industrial and Commercial Bank of China collected 0.78 percent, while China Construction Bank added 0.63 percent, China Merchants Bank eased 0.03 percent, China Life Insurance jumped 1.43 percent, Ping An Insurance climbed 1.27 percent, China Petroleum and Chemical (Sinopec) fell 0.23 percent, Baoshan Iron advanced 0.82
BI Intelligence Generation Z, defined as customers born between 1996 and 2010, hold up to $143 billion in spending power, but haven't yet developed brand loyalties that dictate where they store and spend that money. For banking and payments providers, attracting these customers while they're young could lead to lucrative relationships throughout their lives, with value increasing as they age, earn more money, and expand the number of financial products they engage with. Most Gen Zers haven't started using financial products beyond a bank account, which makes them a ripe opportunity for players in the space. As a result, many firms target millennials and Gen Zers together in a push to attract younger customers, but this could be limiting their ability to effectively capture the interest of tweens, teens, and young adults, because Gen Z differs from their older counterparts. As a group, they're more responsive to influence from friends and peers than they are to traditional advertising, less likely to remember life before the internet, and more open to a wider variety of financial service providers than other consumers. Understanding what makes Gen Zers tick is critical for marketers, strategists, and developers looking to cater to these younger customers
SEATTLE, May 11, 2020 (GLOBE NEWSWIRE) -- David Eraker filed legal action today to stop Redfin Corporation (Redfin), the company he founded in 2002, from infringing on image-based rendering patents owned by Surefield, a company he founded in 2012. Eraker is the third Redfin co-founder to file suit against the company. “Surefield’s image-based rendering approach was a first-to-market solution to a critical last mile problem in residential real estate, which is to get people into houses, and Redfin quickly copied it,” said Eraker. At issue is a specific type of 3D model for online home tours that benefits brokers by facilitating a streamlined approach to listings and enables direct offers that bypass costly buyer’s agent commissions. The technology leverages state-of-the-art advances in image-based rendering and 3D reconstruction to automatically create models of a home for real estate sales that are both photorealistic and spatially navigable. Eraker claims that Redfin copied aspects of the online home tour Surefield launched in April 2014. Four months after Surefield launched its 3D home tour in 2014, Redfin released 3D Walkthrough, based on the same image-based rendering technology even while employing a similar user interface. Redfin introduced the tool in 22 states and continues to
(RTTNews) - China will on Tuesday release April numbers for consumer and producer prices, highlighting a modest day for Asia-Pacific economic activity. Consumer prices are predicted to fall 0.5 percent on month and climb 3.7 percent on year after sinking 1.2 percent on month and rising 4.3 percent on year in March. Producer prices are tipped to sink 2.6 percent on year after sliding 1.5 percent in the previous month. Australia will provide March figures for home loans; in February, loans were down 1.7 percent on month and investment lending fell 1.9 percent on month. Australia also will see March results for the business confidence index from NAB; in February, the index score was -66. Japan will release preliminary March numbers for its leading and coincident economic indexes; in February, their scores were 91.7 and 95.5, respectively.
(RTTNews) - Twitter Inc. (TWTR) Monday said it has appointed Fei-Fei Li to its Board of Directors as a new independent director, effective immediately. "With unparalleled expertise in engineering, computer science and artificial intelligence (AI), Fei-Fei brings relevant perspectives to the Board as Twitter continues to utilize technology to improve our service and achieve our long-term objectives," said Omid Kordestani, Executive Chairman of Twitter. Fei-Fei Li is the inaugural Sequoia Professor in the Computer Science Department at Stanford University, and the Denning Family Co-Director of Stanford's Human-Centered AI Institute (HAI). She served as the Director of Stanford's AI Lab from 2013 to 2018. From January 2017 to September 2018, Dr. Li was Vice President at Google and served as Chief Scientist of AI/ML at Google Cloud.
Reuters US stock indexes closed mixed on Monday as investors mulled the risks of unwinding months-long lockdowns. Economists are warning of a prolonged economic downturn should state reopenings fuel a second wave of coronavirus cases. West Texas Intermediate crude oil climbed as much as 3% before sliding to a session loss after Saudi Arabia said it would cut production by an extra 1 million barrels per day in June. Goldman Sachs projected a V-shaped recovery for crude prices through 2020. Watch major indexes update live here. US equities closed mixed on Monday as investors weighed the benefits of reopening economies and returning to pre-virus norms. Traders are considering efforts by nations who are in the process of slowly unwinding months-long lockdowns. Several states have begun resuming regular business activity to avoid additional layoffs and keep firms afloat. Some view the move as necessary to avoid a prolonged recession, while others see it as risking a dangerous second wave of coronavirus cases. The UK announced the first steps of its reopening plan on Sunday, telling citizens to return to their jobs if working from home is impossible. Markets also mulled an uptick in cases in South Korea, one of the nations to
NEW ORLEANS, May 11, 2020 /PRNewswire/ -- A peer-reviewed study published today in Marine Pollution Bulletin refutes theories promoted by the U.S. Coast Guard that actively flowing wells are the source of the sheen at the MC-20 site in the Gulf of Mexico off the coast of Louisiana. The study's authors also call on federal agencies to enlist the National Academies of Sciences, Engineering and Medicine to examine all existing science and develop the proper means of response. The study, "Harnessing a decade of data to inform future decisions: Insights into the ongoing hydrocarbon release at Taylor Energy's Mississippi Canyon 20 site," was authored by eight scientists, some of whom have been studying the MC-20 site for more than a decade. "We specifically test and refute the hypothesis that surface sheens originate as discharge from one or two homogenous reservoirs…" conclude the authors. "The observations and analysis presented in this work reveal a complex release including multiple oil groups, a sedimentary repository, and no definitive evidence of hydrocarbon discharge directly from a reservoir." The authors also warn of the risk should the government order further well interventions or other decommissioning activity without the benefit of fully understanding the complexity of the
NEW YORK, May 11, 2020 /PRNewswire/ -- Ewout Steenbergen, Executive Vice President and CFO of S&P Global (NYSE: SPGI), will present at the virtual Barclays Americas Select Franchise Conference 2020 on May 12, 2020. Mr. Steenbergen is scheduled to speak from 11:00 a.m. to 11:45 a.m.New York/Eastern Daylight Time (4:00 p.m. to 4:45 p.m. British Summer Time). The "fireside chat" will be webcast and may include forward-looking information. Webcast Instructions: Live and ReplayThe webcast (video and slides) will be available live and in replay through the Company's Investor Relations website https://investor.spglobal.com/Investor-Presentations (please copy and paste URL into web browser). The webcast replay will be available approximately one hour after the end of the presentation and will remain accessible for three months, ending on August 9, 2020. Any additional information presented during the presentation will be made available on the Company's Investor Presentations web page. About S&P GlobalS&P Global (NYSE: SPGI) is the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. We've been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. Our divisions include S&P