Renishaw FY20 Results Decline

Renishaw (RSW.L) reported a 97% decline in fiscal 2020 statutory profit before tax that totaled £3.2 million versus £109.9 million last year. On a per share basis, earnings totaled 0.4p per share compared to 126.7p per share in the previous year.

Adjusted profit before tax amounted to £48.6 million versus £103.9 million a year ago. Adjusted earnings dropped to 51.0p per share from 119.9p per share last year.

Revenue for the year 2020 decreased 11% to £510.2 million from the previous year’s revenue of £574.0 million.

English Channel earthquake: Britain rocked by rare quake near Eastbourne

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The earthquake, which struck at 9.05am this morning, hit around 31 miles from the seaside town of Eastbourne.

According to earthquake-tracking group EMSC-CSEM, the quake struck at a depth of 4.3 miles.

This is a breaking story, more to follow…

Philippines Confirms Death of Ex-Wirecard Executive Bauer

The Philippines confirmed a former Asian executive of disgraced German payments firm Wirecard AG, who is part of an ongoing investigation, has died.

German businessman Christopher Reinhard Bauer died on July 27 in a hospital in the Philippine capital region due to natural causes, Justice Secretary Menardo Guevarra said in a mobile-phone message. He was the same person summoned by the National Bureau of Investigation in connection with the Wirecard probe, he said.

The Department of Justice has been looking at an inward remittance to Bauer’s account from Wirecard Asia in 2015, Guevarra said on Aug. 7.

Philippine investigators early Thursday recommended that two immigration officers be charged for allegedly falsifying travel records of former Wirecard executive Jan Marsalek, who went missing after the company was implicated in an accounting scandal. He was added to Interpol’s most wanted list.

— With assistance by Clarissa Batino

GVC Holdings H1 Underlying Pretax Profit Declines; Net Gaming Revenue Down 11%

GVC Holdings Plc (GMVHY.PK,GMVHF.PK) reported profit before tax of 24.8 million pounds for the six months ended 30 June 2020 compared to a loss of 12.3 million pounds, previous year. Loss per share was 1.0 pence compared to a loss of 0.6 pence. Underlying pretax profit declined to 55.4 million pounds from 212.1 million pounds. Underlying earnings per share was 28.7 pence compared to 31.3 pence.

First half revenue declined to 1.58 billion pounds from 1.78 billion pounds, previous year. Net gaming revenue was 1.62 billion pounds compared to 1.81 billion pounds.

The Board does not consider it prudent to pay a dividend currently.

Hit by coronavirus, Thyssenkrupp sees early signs of stabilization

• Some of the conglomerate's businesses seen stabilizing in the fourth quarter.
• Steel division to post 1 billion euro loss this year.

Ailing conglomerate Thyssenkrupp on Thursday said some businesses were stabilizing in the current quarter after suffering a heavy blow due to the coronavirus pandemic.

The group said its fiscal third-quarter adjusted operating loss from continuing operations, which strips out the elevator business it recently sold, came in at 679 million euros ($800 million), less than the up to 1 billion it had flagged in May.

"We have worked hard to keep our costs under control and secure liquidity," Chief Executive Martina Merz said. "As a result we came through the crisis slightly better than initially feared in the third quarter overall."

The company, which sold its elevator unit to a private equity consortium for 17.2 billion euros, said most businesses were stabilizing or even improving quarter-on-quarter, with the exception of its struggling steel division.

Thyssenkrupp Steel Europe, the continent's second-largest player after ArcelorMittal, is expected to rack up a 1 billion euro adjusted operating loss in the fiscal year to September, the company said.

China July FDI +15.8 % y/y in yuan terms

BEIJING, Aug 13 (Reuters) – Foreign direct investment (FDI) into China rose 0.5% in the first seven months of this year from a year earlier, to 535.65 billion yuan ($77.16 billion), a commerce ministry official said on Thursday.

In July alone, FDI jumped 15.8% from a year earlier, to 63.47 billion yuan, Zong Changqing, director of foreign investment department at the ministry told a news conference. ($1 = 6.9424 Chinese yuan renminbi)

Netease Inc. Q2 adjusted earnings of RMB39.82 per share

Netease Inc. (NTES) released a profit for its second quarter that advanced from the same period last year.

The company’s earnings came in at RMB4.65 billion, or RMB34.58 per share. This compares with RMB3.40 billion, or RMB25.82 per share, in last year’s second quarter.

Excluding items, Netease Inc. reported adjusted earnings of RMB5.23 billion or RMB39.82 per share for the period.

The company’s revenue for the quarter rose 25.8% to RMB18.18 billion from RMB14.45 billion last year.

Netease Inc. earnings at a glance:

-Earnings (Q2): RMB5.23 Bln. vs. RMB3.92 Bln. last year.
-EPS (Q2): RMB39.82 vs. RMB30.18 last year.
-Revenue (Q2): RMB18.18 Bln vs. RMB14.45 Bln last year.