Monday, 18 Jan 2021

AllianceBernstein Holding L.P. Q3 adjusted earnings Beat Estimates

Burger King developed reusable containers for Whoppers and drinks and will offer them to some customers next year

  • Burger King will start offering reusable sandwich and drink containers at select stores.
  • The program will start in NYC, Tokyo, and Portland, Oregon in 2021.
  • Customers will pay a deposit for the containers, and get it back when they return them. 
  • Visit Business Insider's homepage for more stories.

Burger King is launching reusable sandwich boxes and cups next year to reduce waste, the company says. To start, the containers will only be available in New York City, Portland, and Tokyo starting in 2021, but Burger King has plans to expand further into other locations.

Burger King says the containers, which can be used for Whoppers or other sandwiches and coffee or soda, can be "safely cleaned and refilled." To use the containers, customers will opt for the zero waste option and pay a deposit while ordering. Upon returning them, the deposit will also be returned.

This process is a bit different from Starbucks' model, which is probably the most well-known fast food reusable container. Burger King customers won't own their own containers and bring them to restaurants. Instead, it's more of a rental situation.

Some chains, including Starbucks and Dunkin' Donuts, paused refills on reusable cups as a safety measure due to COVID-19. This issue is less likely to affect Burger King, which will be cleaning containers in-store.

FIIs hike stake in Reliance Industries to 25.2%

In the previous quarter ended June 30, foreign investors held 163.07 crore shares of 24.72%.

Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2% in the quarter ended September 30, according to the company’s regulatory filing.

Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.

The statement showed FII holding 165.8 crore shares or 25.2% of the total shareholding.

In the previous quarter ended June 30, foreign investors held 163.07 crore shares of 24.72%.

In an investor note, JP Morgan said FII holding in RIL has hit a new high.

“As has been the case now for two years, FII’s stake in RIL hit new highs. Surprisingly, mutual funds’ (MF) stake declined by 25 basis points quarter-on-quarter and was the second straight quarter of stake decline,” it said.

The last time domestic MFs reduced their holding in RIL over two straight quarters was back in 2016, it said adding domestic mutual funds held 5.12% of RIL as of September 30, down from 5.37% in the previous quarter.

Promoters have also upped their stake to 50.49% from 50.37%.

Borrowing Up, Euro-Area Economy Down Means Debt Ratios Surge

A surge in borrowing and an unprecedented slump in economic output has expanded debt-to-GDP ratios across the euro area, according to Eurostat data published Thursday. Four of the five countries that already exceeded 100% before the pandemic — Greece, Italy, Belgium and France — saw increases above the region’s average in the second quarter.

Cognizant To Acquire Bright Wolf – Quick Facts

Cognizant (CTSH) has agreed to acquire Bright Wolf, a technology services provider specializing in custom Industrial Internet of Things (IIoT) solutions. Cognizant said, with the close of the acquisition, the company will establish its newest IoT innovation lab in the Raleigh-Durham, N.C., Research Triangle, with the Bright Wolf team as its core. The acquisition is anticipated to close in the fourth quarter of 2020.

Bright Wolf serves some of the largest companies in the world in manufacturing, energy production, supply logistics, environmental controls, and other industries.

Dow Inc. Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Dow Inc. (DOW):

-Earnings: -$25 million in Q3 vs. $333 million in the same period last year.
-EPS: -$0.04 in Q3 vs. $0.45 in the same period last year.
-Excluding items, Dow Inc. reported adjusted earnings of $376 million or $0.50 per share for the period.
-Analysts projected $0.33 per share
-Revenue: $9.71 billion in Q3 vs. $10.76 billion in the same period last year.

Rishi Sunak doubles self-employment grant in £3.1bn package

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Speaking in the House of Commons, Rishi Sunak shared the new help available. He said: “I’ve always said that we must be ready to adapt our financial support as the situation evolves, and that is what we are doing today.

“These changes mean that our support will reach many more people and protect many more jobs.

“I know that the introduction of further restrictions has left many people worried for themselves, their families and communities.

“I hope the government’s stepped-up support can be part of the country pulling together in the coming months.”

Detailing what he is introducing for the self-employed, he said: “Today’s announcement increases the amount of profits covered by the two forthcoming self-employed grants from 20 per cent to 40 per cent, meaning the maximum grant will increase from £1,875 to £3,750.

This is a developing news story, please refresh for updates

“This is a potential further £3.1 billion of support to the self-employed through November to January alone, with a further grant to follow covering February to April.

AllianceBernstein Holding L.P. Q3 adjusted earnings Beat Estimates

AllianceBernstein Holding L.P. (AB) revealed a profit for its third quarter that rose from last year.

The company’s earnings came in at $207.98 million, or $0.70 per share. This compares with $187.81 million, or $0.62 per share, in last year’s third quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $66.72 million or $0.69 per share for the period.

Analysts had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.5% to $900.04 million from $877.87 million last year.

AllianceBernstein Holding L.P. earnings at a glance:

-Earnings (Q3): $66.72 Mln. vs. $60.36 Mln. last year.
-EPS (Q3): $0.69 vs. $0.63 last year.
-Analysts Estimate: $0.68
-Revenue (Q3): $900.04 Mln vs. $877.87 Mln last year.

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