Monday, 28 Sep 2020

Gold Cracks $2,000 Barrier On China/U.S. Tensions

Apple Announces Two New Live Global Radio Offerings On Apple Music

Apple Inc. (AAPL) is improving its Apple Music offerings by launching two new stations and a rebranding its popular Beats 1 station.

The tech giant has launched Apple Music Country and Apple Music Hits, which will be available from Tuesday, August 18. Meanwhile, Beats 1 is now known as Apple Music 1.

As the name suggests, Apple Music Country will focus on country music. It’ll have multiple on-air hosts as well as exclusive shows from artists like Luke Bryan, Carrie Underwood, and Jimmie Allen.

Apple Music Hits will focus on hit songs from the ’80s, ’90s, and 2000s. Apple Music Hits will be helmed by daily on-air hosts Jayde Donovan, Estelle, Lowkey, Jenn Marino, Sabi, Nicole Sky and Natalie Sky, George Stroumboulopoulos, along with special shows from Ari Melber and others. Fans can also tune in to hear new exclusive shows from artists like Backstreet Boys, Ciara, Mark Hoppus, Huey Lewis, Alanis Morissette, Snoop Dogg, Meghan Trainor, Shania Twain, and more.

Meanwhile, Apple Music 1 is led by cornerstone presenters Zane Lowe, Ebro Darden, Brooke Reese, Dotty, Hanuman Welch, Matt Wilkinson, Nadeska, Rebecca Judd, and Travis Mills.

How Britons see arrival of migrants crossing English Channel

As the UK tries to stop migrant arrivals across the English Channel, Al Jazeera asks residents on the coast if they think the situation is under control.

The arrival of refugees on small boats from France has dominated British media. The word “invasion” has been used by some politicians, with the people leaving France facing the ships of the navy and border forces.

A key part of Brexit was Britain taking back control of its borders.

Al Jazeera’s Jonah Hull reports from Kent county.

European Economics Preview: UK GDP Data Due

Quarterly national accounts from the UK and industrial production from euro area are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to issue UK quarterly GDP, industrial production and foreign trade data. The economy is forecast to contract 20.5 percent sequentially in the second quarter after easing 2.2 percent in the first quarter.

UK’s industrial production is seen rising 9.2 percent on month in June. Economists forecast the trade deficit to widen to GBP 4.75 billion from GBP 2.81 billion in May.

At 3.00 am ET, June industrial production from Hungary is due. Production had declined 7.8 percent on year in May.

Half an hour later, Statistics Sweden releases consumer price data for July. Inflation is seen at 0.3 percent in July versus 0.7 percent in June.

At 5.00 am ET, Italy’s Istat releases consumer price data for July. According to preliminary estimate, consumer prices had dropped 0.3 percent in July.

In the meantime, Eurostat publishes euro area industrial production data for June. Economists forecast production to grow 10 percent on month, slower than the 12.4 percent rise in May.

Oil Prices Slide On Renewed Virus Concerns

Oil prices fell on Tuesday as a rising number of coronavirus cases around the world threatened to jeopardize a recovery in fuel demand.

The downside, however, was limited after reports of high compliance with production cuts from members of the OPEC+ producer group.

Benchmark Brent crude lost 17 cents or 0.38 percent to $45.08 a barrel, after having gained 1.3 percent on Monday.

West Texas Intermediate futures were down 16 cents or 0.38 percent at $42.57 after a 2.1 percent gain in the previous session.

Fresh geopolitical concerns and a spike in coronavirus infections in economies newly emerging from weeks of lockdown have added to the downside risks to the oil demand outlook.

Supply is also on the rise, with markets already pricing in the OPEC+ supply cuts and adjustments outside of OPEC+.

The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, which is a level similar to the previous month, Reuters said citing sources.

A ministerial OPEC+ monitoring committee is meeting on Wednesday to review the oil market and compliance with the global oil supply reduction pact.

Russian Energy Minister Alexander Novak will join the video meeting despite testing positive for Covid-19, the country’s energy ministry said.

Jack Henry & Associates, Inc. Earnings Advance In Q4

Jack Henry & Associates, Inc. (JKHY) released earnings for its fourth quarter that advanced from last year.

The company’s bottom line totaled $61.35 million, or $0.80 per share. This compares with $60.99 million, or $0.79 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.3% to $410.54 million from $393.51 million last year.

Jack Henry & Associates, Inc. earnings at a glance:

-Earnings (Q4): $61.35 Mln. vs. $60.99 Mln. last year.
-EPS (Q4): $0.80 vs. $0.79 last year.
-Analysts Estimate: $0.78
-Revenue (Q4): $410.54 Mln vs. $393.51 Mln last year.

Gold Cracks $2,000 Barrier On China/U.S. Tensions

Gold prices spiked on Tuesday and the dollar teetered near milestone lows as the U.S. stimulus stalemate continued and tensions between the United States and China escalated.

Spot gold rose $22 or 1.11 percent to $2,005.60 per ounce, while U.S. gold futures were up 0.78 percent at $2,014.35.

The dollar extended its decline into a fifth day as yields on U.S. Treasuries ticked lower on concerns about the pace of recovery in the world’s largest economy.

The political impasse holding up U.S. fiscal stimulus and the new restrictions on Huawei Technologies Co. aimed at cutting the Chinese company’s access to commercially available chips also boosted the yellow metal’s safe-haven appeal.

The Trump administration announced on Monday it will further tighten restrictions on Huawei Technologies in a bid to limit the company’s access to electronic components.

“We don’t want their equipment in the United States because they spy on us,” President Donald Trump said.

Meanwhile, the minutes of the U.S. Federal Reserve’s last policy meeting will be out on Wednesday, with investors looking for any clues about an anticipated shift in the policy outlook.

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