Danone To Sell Water And Beverage Unit In Denmark; Financial Terms Not Disclosed

French food company Danone SA (DANOY.PK) Tuesday said it has agreed to sell Aqua d’Or, its Water and Beverage business in Denmark. The financial details of the deal were not disclosed.

The business is being sold to Danish brewing and beverage company Royal Unibrew.

Danone said the sale is part of its strategic portfolio review and of the continuous optimization of its capital allocation.

The closing of the transaction is subject to customary conditions.

Netease Inc. Reveals Increase In Q3 Earnings

Netease Inc. (NTES) revealed a profit for its third quarter that increased from the same period last year.

The company’s earnings totaled RMB3.18 billion, or RMB4.73 per share. This compares with RMB3.00 billion, or RMB4.37 per share, in last year’s third quarter.

Excluding items, Netease Inc. reported adjusted earnings of RMB3.86 billion or RMB5.74 per share for the period.

The company’s revenue for the quarter rose 18.9% to RMB22.19 billion from RMB18.66 billion last year.

Netease Inc. earnings at a glance:

-Earnings (Q3): RMB3.86 Bln. vs. RMB3.67 Bln. last year.
-EPS (Q3): RMB5.74 vs. RMB5.35 last year.
-Revenue (Q3): RMB22.19 Bln vs. RMB18.66 Bln last year.

Contracts worth $26 billion in Hong Kong pegged to expiring libor benchmarks – regulator

HONG KONG, Nov 16 (Reuters) – Hong Kong’s banking sector has contracts worth HK$200 billion ($25.68 billion) referencing settings of the Libor benchmark that will cease to exist at the end of 2021 and which be dealt with in the next 45 days, the financial hub’s regulator said.

“Even though we are making good progress I hope the banks will work their utmost to reach out to all the clients (with these contracts),” Raymond Chan, Hong Kong Monetary Authority executive director (Banking Supervision), told reporters on Tuesdsay.

The Home Depot, Inc. Q3 Income Climbs, Beats estimates

The Home Depot, Inc. (HD) released a profit for its third quarter that climbed from the same period last year.

The company’s earnings totaled $4.13 billion, or $3.92 per share. This compares with $3.43 billion, or $3.18 per share, in last year’s third quarter.

Analysts had expected the company to earn $3.40 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.8% to $36.82 billion from $33.54 billion last year.

The Home Depot, Inc. earnings at a glance:

-Earnings (Q3): $4.13 Bln. vs. $3.43 Bln. last year.
-EPS (Q3): $3.92 vs. $3.18 last year.
-Analysts Estimate: $3.40
-Revenue (Q3): $36.82 Bln vs. $33.54 Bln last year.

Oil Edges Higher On Tight Supply

Oil edged higher on Tuesday as supply from producer countries remained tight. The upside remained capped by fears over demand as Covid-19 cases rise across Europe.

China is also battling its biggest COVID-19 outbreak caused by the highly transmissible Delta variant.

Brent futures for January delivery rose 56 cents, or 0.7 percent, to $82.61 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 52 cents, or 0.6 percent, at $80.27.

Global oil markets remain very tight by all measures as demand returns to pre-pandemic levels.

While the momentum behind the price rally has tempted some forecasters to predict a return to $100-a-barrel oil, the International Energy Agency said in its closely-watched monthly report on Tuesday that a reprieve from the price rally could be on the horizon.

“Contrary to hopes expressed in Glasgow at COP26 this is not because demand is declining, but rather due to rising oil supplies,” it was said.

Last week, U.S. energy firms added oil and natural gas rigs for a third week in a row, encouraged by a 65 percent increase in U.S. crude prices so far this year.

U.S. shale production in December is expected to reach pre-pandemic levels of 8.68 million barrels a day, according to Rystad Energy.

On the Covid-19 front, the U.S. Centers for Disease Control and Prevention on Monday moved four European destinations to its highest-risk category for travel — a reflection of the growing concern over rising cases in Europe.

Macy’s To Offer Debt-free Education Benefit Program To Colleagues; Raises Minimum Wage

Macy’s, Inc. (M) said, beginning in February 2022, it will provide a debt-free education benefit program to its colleagues, investing approximately $35 million over the next 4 years. The program, available for regular, salaried and hourly colleagues, will cover 100% of tuition, books and fees for a wide range of options, including courses for high school completion, college prep, English language learning, associate and bachelor’s degrees, bootcamps and professional certificates within Macy’s debt-free network.

The company has partnered with education and upskilling platform, Guild Education, to build the program and help the colleagues gain their professional goals without financial barriers.

Also, the company said it will raise the minimum rate across all Macy’s, Inc. locations for new and current colleagues. The company-wide minimum rate will be increased to $15 per hour, nationally, by May 2022. Macy’s also announced its corporate and hourly colleagues will receive one additional flexible paid holiday to take a day off on a holiday that is most important to them.

Home Depot Q3 Results Top Estimates – Quick Facts

Home improvement retailer Home Depot Inc. (HD) reported Tuesday that net earnings for the third quarter grew to $4.13 billion or $3.92 per share from $3.43 billion or $3.18 per share in the prior-year quarter.

Net sales for the quarter increased 9.8 percent to $36.82 billion from $33.54 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $3.40 per share on sales of $35.01 billion for the quarter. Analysts’ estimates typically exclude special items.

Comparable sales for the third quarter were positive 6.1 percent, and comparable sales in the U.S. were positive 5.5 percent.