Monday, 26 Oct 2020

Deutsche Post Lifts FY20 Group-EBIT Outlook

Gold plunges ₹694; silver up ₹126

In the international market, gold was trading with gains at $1,892 per ounce and silver was flat at $23.73 per ounce

Gold prices plunged ₹694 to ₹51,215 per 10 grams in the national capital on Wednesday amid rupee appreciation, according to HDFC Securities.

The precious metal had in the previous trade closed at ₹51,909 per 10 grams.

Silver, however, rose ₹126 to ₹63,427 per kg, from ₹63,301 per kg in the previous trade.

“Spot gold prices for 24 karats in Delhi plunged ₹694 amid rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Meanwhile, snapping its two-day losing streak, the rupee strengthened by 13 paise to settle at 73.33 against the U.S. dollar on Wednesday helped by positive domestic equities and foreign fund inflows.

In the international market, gold was trading with gains at $1,892 per ounce and silver was flat at $23.73 per ounce.

Greene King to cut up to 800 jobs and shut 79 pubs and restaurants

Greene King is cutting up to 800 jobs and closing 79 pubs and restaurants, as it blamed the move on the 10pm curfew and the end of the government’s furlough scheme.

Greene King, one of Britain’s biggest pub operators, with more than 1,700 pubs and 38,000 staff, said that about a third of the outlets will close permanently, with the rest “mothballed” until they can reopen.

“The continued tightening of the trading restrictions for pubs, which may last another six months, along with the changes to government support was always going to make it a challenge to reopen some of our pubs,” a spokesman said.

“Therefore, we have made the difficult decision not to reopen 79 sites, including the 11 Loch Fyne restaurants we announced last week. Around one third will be closed permanently and we hope to be able to reopen the others in the future. We are working hard with our teams to try and find them a role in another of our pubs wherever possible.”

Sudan’s Red Sea Ports Resume Operations After Days of Protests

Sudan’s Red Sea ports reopened after about three days of protests, paving the way for the resumption of trade from the African country’s international gateway.

Sudan Seaports Corp. spokesman Nabil Mahmoud commented on the restart at the facilities in Port Sudan and Suakin by phone, without giving more details.

Protests flared in eastern Sudan at the weekend after local community leaders said a peace deal the transitional government signed with rebels from Darfur and the country’s south failed to address their concerns over regional marginalization.

Accenture To Acquire Avenai For Undisclosed Financial Terms – Quick Facts

Accenture plc (ACN) said Wednesday that it has agreed to acquire Avenai, an Ottawa-based provider of consulting and technology services. Financial terms of the deal were not disclosed.

Accenture noted that Avenai has a significant focus on the public sector market and acquisition will enhance Accenture’s capacity to drive the technology transformation taking place across the public sector in Canada.

Since its establishment in 2012, Avenai has built a strong reputation with government and commercial clients in the Ottawa and Toronto regions, growing from four to more than 70 employees.

Avenai supports key aspects of business change, including strategy development, process improvement, IT-enabled business transformation, and organization culture transformation.

“COVID-19 is leading many Canadian organizations to accelerate their technology transformations to ensure they come out ahead in this new reality, and that’s why we are adding significantly to our team of experts in Ottawa. We look forward to working with the Avenai team to help our clients transform to meet the challenges of today and the future,” said Jeffrey Russell, president of Accenture in Canada.

Why movie theaters remain in panic mode seven months into the coronavirus pandemic

The movie business can't catch a break.

Theaters tried to reopen as coroanvirus cases across the United States began to slow over the summer. The pandemic delayed blockbuster after blockbuster. Theaters became central in the debate over reopening businesses too soon. Now, they're shutting down again.

Cineworld Group, owner of Regal Cinemas, announced Monday it will close down all of its locations in the U.S. and Canada and in the United Kingdom, after the latest James Bond film, "No Time to Die," was delayed until spring 2021. 

With no new blockbuster movies to show, movie theaters owners are facing the difficult decision to shut down operations for the second time mid-March. 

Watch the video above to find out how the movie business plans to survive a potential second wave of the coronavirus. 

CANADA STOCKS-TSX rises at open on gold miners boost

Oct 7 (Reuters) – Canada’s main stock index opened higher on Wednesday, recovering from its worst day in two weeks in the previous session, helped by gains in the shares of precious metal miners.

* At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 134.23 points, or 0.83%, at 16,370.36.

Deutsche Post Lifts FY20 Group-EBIT Outlook

Deutsche Post AG, which is operating under the trade name Deutsche Post DHL Group, said that it raised its fiscal year 2020 group-EBIT outlook to a range of 4.1 billion euros – 4.4 billion euros from the prior outlook of 3.5 billion euros – 3.8 billion euros.

“In anticipation of a very strong peak season – in particular for the e-commerce driven businesses – our strong focus in the fourth quarter will be on securing all resources needed to maintain a high quality service level,” the company said in a statement.

For 2020, the group continues to expect an EBIT of around 1.5 billion euros for Post & Parcel Germany. For its DHL divisions, Deutsche Post DHL Group forecasts an EBIT between 3.3 billion euros and 3.6 billion euros compared to the prior outlook of 2.8 billion euros – 3.1 billion euros.

The company noted that overall positive development of the group’s businesses going out of the second-quarter has continued well through the third quarter.

Preliminary group EBIT was around 1.37 billion euros in third-quarter of 2020 compared to 942 million euros in the previous year.

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