Sunday, 20 Jun 2021

A key U.S. inflation gauge rose 3.1% year over year, higher than expected

National Bank of Canada Q2 adjusted earnings of C$2.25 per share

National Bank of Canada (NA.TO) announced a profit for its second quarter that advanced from last year.

The company’s bottom line came in at C$801 million, or C$2.25 per share. This compares with C$368 million, or C$1.01 per share, in last year’s second quarter.

Excluding items, National Bank of Canada reported adjusted earnings of C$801 million or C$2.25 per share for the period.

The company’s revenue for the quarter rose 9.8% to C$2.24 billion from C$2.04 billion last year.

National Bank of Canada earnings at a glance:

-Earnings (Q2): C$801 Mln. vs. C$379 Mln. last year.
-EPS (Q2): C$2.25 vs. C$1.01 last year.
-Revenue (Q2): C$2.24 Bln vs. C$2.04 Bln last year.

Russia refused entry to 2 airlines from France and Austria because they planned to avoid Belarus airspace

  • Russia denied entry to Air France and Austrian Airlines, forcing them to cancel flights.
  • The two airlines were planning to avoid Belarus airspace in their flights to Moscow.
  • The EU asked airlines to avoid Belarus after the country diverted a Ryanair plane and arrested a dissident.
  • See more stories on Insider’s business page.

Russia blocked two European airlines from entering the country after they tried to fly there while avoiding Belarusian airspace.

The BBC and CNN reported that Russia refused entry to Air France and Austrian Airlines after they requested flight paths that avoided Belarus, forcing the airlines to cancel services on Wednesday and Thursday.

The EU asked airlines to avoid Belarus airspace after the country diverted Ryanair plane to Minsk and arrested the dissident Roman Protasevich, who was on board.

Russia is the only country standing by Belarus after the flight was intercepted.

Big Lots Inc. Q1 Earnings Climb

Big Lots Inc. (BIG) announced earnings for its first quarter that increased from last year.

The company’s bottom line came in at $94.56 million, or $2.62 per share. This compares with $49.32 million, or $1.26 per share, in last year’s first quarter.

Analysts had expected the company to earn $1.69 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.2% to $1.63 billion from $1.44 billion last year.

Big Lots Inc. earnings at a glance:

-Earnings (Q1): $94.56 Mln. vs. $49.32 Mln. last year.
-EPS (Q1): $2.62 vs. $1.26 last year.
-Analysts Estimate: $1.69
-Revenue (Q1): $1.63 Bln vs. $1.44 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.00 to $1.15

Rupee gains for 3rd straight session, rises 15 paise to 72.45 against U.S. dollar

In the last three trading sessions, the rupee has appreciated by 51 paise.

The rupee strengthened for the third straight session on Friday and closed 15 paise higher at 72.45 (provisional) against the U.S. dollar tracking positive domestic equities.

At the interbank forex market, the local unit opened at 72.46 against the greenback and witnessed an intra-day high of 72.31 and a low of 72.49 during the session.

It finally ended at 72.45 against the American currency, registering a rise of 15 paise over its previous close.

On Thursday, the rupee had settled at 72.60 against the U.S. dollar.

In the last three trading sessions, the rupee has appreciated by 51 paise.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.14% to 90.09.

Brent crude futures, the global oil benchmark, advanced 0.30% to $69.67 per barrel.

On the domestic equity market front, the BSE Sensex ended 307.66 points or 0.6% higher at 51,422.88, while the broader NSE Nifty advanced 97.80 points or 0.64% to 15,435.65.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth ₹660.90 crore, as per exchange data.

Further, the rupee gained strength as daily COVID-19 cases declined, traders said.

The single day rise in coronavirus cases in India fell below the 2-lakh mark for the second time this month, while the recoveries continue to outnumber daily cases for the 15th consecutive day, according to the Union Health Ministry data updated on Friday.

Someone Unfurled A Huuuuge ‘Trump Won’ Banner At Yankee Stadium. It Didn’t Last Long.

A massive banner pushing ex-President Donald Trump’s election lies was unfurled during the New York Yankees-Toronto Blue Jays game on Thursday.

But the sign — which falsely declared that “Trump Won” and urged people to “Save America” — didn’t stay in place for long. Security staff at Yankees Stadium swiftly confiscated the banner and hauled off those responsible.

The incident was caught on camera from multiple angles:

Some in the stadium, where fans were socially distanced, booed and flipped the finger at the banner:

Though Trump’s former hometown has decidedly turned against him, someone hung a “Trump 2020” banner in the stadium in 2018.

In Thursday’s doubleheader, the Blue Jays won the first game 2-0, and the Yankees took the second 5-3.

RELATED…

A key U.S. inflation gauge rose 3.1% year over year, higher than expected

A key inflation indicator rose 3.1% in April, faster than expected, as price pressures built in the rapidly expanding U.S. economy, the Commerce Department reported Friday.

The core personal consumption expenditures index was forecast to increase 2.9%. Federal Reserve officials consider the measure to be the best gauge for inflation, though they watch a number of metrics.

As part of its price stability mandate, the Fed considers 2% to be healthy, though it is committed to letting the level average higher than usual in the interest of promoting full employment.

The index captures price movements across a variety of goods and services and is generally considered a wider-ranging measure for inflation as it captures changes in consumer behavior and has a broader scope than the Labor Department's Consumer Price Index.

Over the past month, core PCE rose 0.7 %, also quicker than the expected 0.6%.

That increase in inflation came with a sharp deceleration in personal income, which declined 13.1%. But that actually was less than the 14% estimate.

This is breaking news. Please check back here for updates.

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