Monday, 18 Jan 2021

Nestle Gets Mixed Reception at Supreme Court on Human-Rights Suits

Stock Alert: Corporación América Airports Surges 33%

Shares of Corporación América Airports S.A. (CAAP), a Luxembourg-based airport concession operator, are gaining more than 33 percent or $1.05 in Tuesday’s morning trade at $4.19.

Monday, Corporación América Airports said it signed an agreement to extend the AA2000 concession for a ten-year period from 2028 to 2038, as provided for under the existing concession agreement. The extension is part of an agreement entered by Aeropuertos Argentina 2000 S.A. or AA2000 and Organismo Regulador del Sistema Nacional de Aeropuertos (ORSNA) to mitigate the impact of COVID-19 in AA2000’s operations.

It also includes the commitment by AA2000 of incremental capital expenditures of about $500 million to be undertaken between 2022 and 2027 for expansion projects.

Corporación América Airports has traded in a range of $1.61 to $6.50 in the past 52 weeks.

India’s November power consumption growth slows to 4.7%

Onset of early winter cited for decline

Power consumption growth slowed to 4.7% at 98.37 billion units (BU) in November amid the onset of early winter, especially in the northern part of the country.

In November 2019, electricity consumption in the country was recorded at 93.94 BU, as per government data.

Power consumption growth had entered positive territory in September and recorded a double-digit surge in October, power ministry data showed.

In September, power consumption recorded growth of 4.4% at 112.24 BU, compared with 107.51 BU in the same month last year.

India’s power consumption grew by almost 12% to 109.53 BU in October this year, as against 97.84 BU in the same month last year.

According to experts, the onset of early winter, especially in the North, has affected power consumption.

Economic activities were almost near normal due to the easing of lockdown curbs, they said, adding that growth in power consumption would continue in the coming months.

Railways hauls highest ever load for 2020 in Nov.

The Railways on Tuesday said it registered the highest freight loading for 2020 in November at 109.68 MT (million tonne), even as loading during the last month was affected due to the festival holidays and cyclone Nivar.

Last month, freight loading was higher by 9% from 100.96 MT in November 2019, resulting in an increase of about ₹450 crore in revenues over the year-earlier period. “In this period, Indian Railways earned ₹10,657.66 crore from freight loading, which is about 4% higher compared to last year’s earnings for the same period [₹10,207.87 crore],” the Railways said.

The loading this November included 48.48 MT of coal, 13.77 MT of iron ore, 5.1 MT of foodgrains, 5.41 MT of fertilizers and 6.62 MT of cement (excluding clinker).

“This is the highest loading that we have done this year despite festival holidays and disruptions caused by cyclone Nivar. In fact, in the last four days of November, we loaded 4 MT of goods every day,” Railway Board Chairman and CEO V.K. Yadav said during a virtual conference.

Brilliantly British – Nominate a fantastic business which you think deserves recognition

Now we want to hear from you! Do you or your family have a business close to your heart that goes above and beyond the call of duty? It could be a local farm shop, a special restaurant, a retailer than goes the extra mile or even an airline that flew you home when you were stranded somewhere. It’s time we recognised those firms that are always there for us, keeping this country Great. Please fill in the form below and help us support the very best of Britain…

Sephora To Open Beauty Shops Inside 850 Kohl’s Stores By 2023

Kohl’s (KSS) has reached a deal with beauty brand Sephora to open hundreds of beauty shops inside its stores in coming years.

Sephora plans to open 200 shops inside Kohl’s locations by next fall, and to increase it to about 850 shops by 2023. Sephora will also launch on Kohl’s website next year, offering more than 100 beauty brands.

“Sephora at Kohl’s” will be a fully-immersive, premium beauty destination, designed within a 2,500 square foot space and prominently located at the front of the store, the company said in a statement.

“The Kohl’s and Sephora partnership will bring a transformational, elevated beauty experience to Kohl’s from the top global name in beauty,” said Michelle Gass, Kohl’s chief executive officer. “This new collaboration is an excellent example of two customer-centric, purpose-driven companies leveraging each other’s strengths to make aspirational beauty far more accessible to millions of customers all across the country.”

Last month, Target Corp. (TGT) and beauty retailer Ulta Beauty (ULTA) announced a long-term deal to launch Ulta Beauty at Target.

Ulta Beauty at Target will debut at more than 100 Target locations starting in 2021, with the companies planning to scale to hundreds more over time.

Micron Technology Lifts Q1 Outlook

Micron Technology Inc. (MU) said that it raised its guidance for the first quarter of fiscal 2021.

The company now expects quarterly GAAP earnings per share to be in the range of $0.61 – $0.65 and non-GAAP earnings per share of $0.69 – $0.73. Previously, the company expected GAAP earnings per share to be $0.32 – $0.46, and non-GAAP earnings per share of $0.40 – $0.54. Analysts polled by Thomson Reuters expect the company to report earnings of $0.48 per share for the first-quarter. Analysts’ estimates typically exclude special items.

The company raised its first-quarter revenue outlook to a range of $5.70 billion – $5.75 billion from the prior year outlook of $5.0 billion – $5.4 billion. Analysts expect revenues of $5.25 billion for the quarter.

Nestle Gets Mixed Reception at Supreme Court on Human-Rights Suits

Nestle SA’s U.S. unit and Cargill Inc. got a mixed reception in a Supreme Court argument over the use of child slavery on Ivory Coast cocoa farms, as justices weighed giving American companies a bigger shield from human-rights lawsuits.

Justices from across the court’s ideological spectrum questioned whether the allegations against the companies had enough of a U.S. connection for the lawsuit go forward. But even some of the court’s conservative members expressed reluctance to completely exempt U.S. companies from suits under a 1789 law that activists have used to sue businesses over overseas atrocities.

Related Posts