CMA Clears Amazon’s Current Investment In Deliveroo – Quick Facts

The Competition and Markets Authority, or the CMA, has cleared Amazon’s (AMZN) 16% investment in Deliveroo. The CMA found that this level of investment will not substantially lessen competition in either market.

Stuart McIntosh, Inquiry Chair, said: “When looking at any merger, the CMA’s role is to assess whether consumers will lose out from a substantial lessening of competition. We have not found this to be the case given the scale of Amazon’s current investment, but if it were to increase its shareholding in Deliveroo, that could trigger a further investigation by the CMA.”

Coca-Cola HBC HY Profit Down

Coca-Cola HBC AG reported that its profit attributable to owners of the parent for the six months ended 26 June 2020 declined to 124.0 million euros or 0.34 euros per share, from 195.1 million euros or 0.53 euros per share in the prior year.

Comparable net profit of 129.0 million euros and comparable basic earnings per share of 0.355 euros were 42.1% and 42.0% lower than in the prior-year period, respectively.

Net sales revenue for the period were 2.83 billion euros, down from 3.35 billion euros in the prior year.

Ferrexpo H1 Profit Down, Sales Volume Up; Declares Dividend; Sees Demand Recovery; Stock Up

Ferrexpo Plc. (FXPO.L), a Swiss iron ore company with assets in Ukraine, reported Wednesday that its first-half profit after tax was $250 million, down 8 percent from last year’s $270 million.

Earnings per share were 42.4 US cents, 7 percent lower than last year’s 45.8 US cents a year ago.

Underlying EBITDA declined 5 percent to $352 million from $372 million last year. Underlying EBITDA margin was 45 percent, lower than 47 percent a year ago.

Revenues edged down 1 percent to $776 million from $787 million last year, reflecting lower pellet premiums.

In the first half, pellet production grew 5 percent and sales volumes grew 22 percent.

Further, citing strong cash flow and resulting liquidity position, the company announced a further interim dividend of 6.6 US cents per share, same as last year, payable on August 26 to shareholders on the register at the close of business on August 14.

Steve Lucas, Non-Executive Chairman, said, “As the market returns to more normal conditions in 2H 2020, we expect to see a recovery in steel demand outside China, which should be constructive for pellet premiums.”

In London, Ferrexpo shares were trading at 196.40 pence, up 8.21 percent.

Isuzu Motors Slips To Loss In Q1

Isuzu Motors (ISUZY.PK) reported first-quarter net loss of 9.8 billion yen compared to a profit of 27.4 billion yen last year.

Operating income for the quarter was 2.2 billion yen versus 46.0 billion yen reported in the same period of last year. Operating income declined due to low sales units.

Sales for the quarter decreased 36% to 327.4 billion yen from 509.1 billion yen generated prior year.

For fiscal 2021, the company expects net income to be 12.0 billion yen and sales to be 1.70 trillion yen. Operating income for 2021 is projected to be 50.0 billion yen.

Man shot dead in Denver’s East Colfax neighborhood is identified

A man shot dead in Denver’s East Colfax neighborhood on Tuesday morning has been identified.

Khari Johnson, 23, was shot at about 3:55 a.m. in the 1500 block of Valentia Street. The Denver Office of the Medical Examiner identified Johnson, who died of multiple gun shot wounds. His manner of death is a homicide.

An investigation is ongoing. Police have not announced an arrest in the case.

WH Smith to cut 1,500 jobs as Covid-19 crisis hits sales

WH Smith is to make 1,500 workers redundant as the coronavirus pandemic hits sales in the retailer’s stores on the high street and at airports and railway stations.

The group has been particularly hard hit because of its previously strong business at transport hubs, which have suffered because passengers have stayed away amid lockdowns and travel restrictions. High street footfall has also taken a hit.

WH Smith expects to report a headline loss before tax for the financial year ending 31 August 2020 of between £70m and £75m.

Carl Cowling, the chief executive, said: “Covid-19 continues to have a significant impact on the WH Smith Group.

“In our travel business, while we are beginning to see early signs of recovery in some of our markets, the speed of recovery continues to be slow. At the same time, while there has been some progress in our high street business, it does continue to be adversely affected by low levels of footfall. As a result, we now need to take further action to reduce costs across our businesses.”

Walker & Dunlop, Inc. Bottom Line Climbs In Q2

Walker & Dunlop, Inc. (WD) reported earnings for its second quarter that advanced from the same period last year.

The company’s bottom line came in at $62.06 million, or $1.95 per share. This compares with $42.20 million, or $1.33 per share, in last year’s second quarter.

Analysts had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 26.2% to $252.83 million from $200.33 million last year.

Walker & Dunlop, Inc. earnings at a glance:

-Earnings (Q2): $62.06 Mln. vs. $42.20 Mln. last year.
-EPS (Q2): $1.95 vs. $1.33 last year.
-Analysts Estimate: $1.09
-Revenue (Q2): $252.83 Mln vs. $200.33 Mln last year.

Russia's coronavirus cases surpass 865,000

MOSCOW (REUTERS) – Russia reported 5,204 new cases of the novel coronavirus on Wednesday (Aug 5), bringing its nationwide tally to 866,627, the fourth-largest caseload in the world.

Russia’s coronavirus taskforce said 139 people had died over the last 24 hours, pushing the official death toll to 14,490.