Explosion at religious gathering in central Afghanistan kills at least 15: Afghan official

KABUL (Reuters) – An explosion at a religious gathering in central Afghanistan killed at least 15 civilians and wounded 20 others on Friday, the country’s interior ministry said, adding that children may be among the victims.

Those killed and wounded were attending a Koran recitation ceremony.

Initial information suggested that explosives were placed in a rickshaw in a district of central Ghazni province, interior ministry spokesman Tariq Arian said.

DuPont Board Approves Separation Of Nutrition & Biosciences Unit Through Split-off

DuPont (DD) announced that its Board of Directors has approved the separation of its Nutrition & Biosciences business through an exchange offer.

In the split-off, DuPont stockholders can elect to tender shares of DuPont common stock in exchange for shares of Nutrition & Biosciences, Inc. or N&B common stock.

The separation will be followed by the simultaneous combination of N&B with International Flavors & Fragrances or IFF in a Reverse Morris Trust transaction in which shares of N&B common stock will be converted into shares of IFF common stock.

DuPont said it will announce the offer terms at launch of the exchange offer. If the split-off is not fully subscribed, the remaining shares of N&B common stock will be distributed through a pro rata spin-off to DuPont stockholders.

DuPont plans a target closing, subject to customary closing conditions, of February 1, 2021 for the IFF and N&B combination.

It was in December last year that IFF and DuPont agreed to merge IFF with N&B business in a Reverse Morris Trust transaction. The deal then valued the combined company at $45.4 billion on an enterprise value basis.

Gold Prices Ease As Dollar Recovers

Gold prices eased on Friday as a strengthening of the dollar made bullion more expensive for buyers holding other currencies.

Spot gold dropped 0.3 percent to $1,879.16 per ounce but was up more than 2 percent for the week. U.S. gold futures were down 0.4 percent at $1,883.75.

The dollar recovered slightly from a week-long beating amid fresh U.S.-China tensions, doubts over a post-Brexit trade deal and the months-long stalemate on an economic aid package in the United States.

The United States is adding dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist today, Reuters reported, citing people familiar with the matter.

Hopes of a post-Brexit trade deal dimmed as Britain and European Union negotiators played down expectations a deal will be reached.

Speaking in the European Parliament, Michel Barnier, the EU’s chief negotiator said it was “the moment of truth” for the two sides to come to an agreement.

European Commission President Ursula von der Leyen said bridging “big differences”, particularly on fishing rights, would be “very challenging” while Prime Minister Boris Johnson said discussions were in a “serious situation”.

On the stimulus front, U.S. lawmakers continued negotiations to clinch a deal for a new stimulus package, with Senate Majority Leader Mitch McConnell saying talks could spill into the weekend.

Oil Eases From Nine-month High

Oil prices fell on Friday but stayed within touching distance of nine-month highs reached in the previous session on optimism over the rollout of vaccines and the release of bullish inventory report.

Benchmark Brent crude slipped 0.2 percent to $51.41 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were little changed at $48.35.

Caution prevailed amid fresh U.S.-China tensions, doubts over a post-Brexit trade deal and the months-long stalemate on an economic aid package in the United States.

The United States is adding dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist today, Reuters reported, citing people familiar with the matter.

Hopes of a post-Brexit trade deal dimmed as Britain and European Union negotiators played down expectations a deal will be reached.

Speaking in the European Parliament, Michel Barnier, the EU’s chief negotiator said it was “the moment of truth” for the two sides to come to an agreement.

European Commission President Ursula von der Leyen said bridging “big differences”, particularly on fishing rights, would be “very challenging” while Prime Minister Boris Johnson said discussions were in a “serious situation”.

On the stimulus front, U.S. lawmakers continued negotiations to clinch a deal for a new stimulus package, with Senate Majority Leader Mitch McConnell saying talks could spill into the weekend.

On the positive side, an U.S. FDA panel recommended emergency approval of Moderna vaccine, paving the way for six million doses to start shipping as soon as this weekend.

Apogee Enterprises Q3 Profit Beats View – Quick Facts

Apogee Enterprises Inc. (APOG) reported that its net earnings for the third quarter of fiscal 2021 climbed to $37.27 million or $1.42 per share from $15.23 million or $0.57 per share in the prior year. The latest-quarter results included a pre-tax gain of $19.3 million on the sale of a building and $1.4 million of pre-tax costs related to COVID.

Excluding certain items, adjusted earnings increased to $0.90 per share, from $0.57 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share for the third-quarter. Analysts’ estimates typically exclude special items.

Quarterly revenue declined to $313.6 million, from $337.9 million last year, reflecting market-related volume declines in Architectural Framing Systems and Architectural Glass, partially offset by growth in Architectural Services and Large-Scale Optical. Analysts expected revenue of $327.41 million for the quarter.

The company said it did not provide detailed financial guidance due to continued uncertainty driven by the impact of COVID and end-market conditions. The company expects that continued project delays and soft market conditions will negatively impact revenue in the fourth quarter.