China congress: Leaders face unprecedented pressure

China’s leaders and parliament will meet on Friday amid growing international anger and criticism.

Chinese leaders observed a minute of silence for coronavirus victims at the start of its biggest political gathering of the year.

The opening session of China’s top political advisory body started one day before the National People’s Congress.

The government is facing unprecedented pressure over its handling of the pandemic, tensions with the United States and a slowing economy hit hard by COVID-19.

Al Jazeera’s Katrina Yu reports from Beijing on that and other pressures faced by China’s leaders.

European Economics Preview: Eurozone Flash PMI Data Due

Flash Purchasing Mangers’ survey results from euro area and the UK are due on Thursday, headlining a busy day for the European economic news.

At 3.15 am ET, IHS Markit is scheduled to issue France’s PMI data. Economists forecast the composite output index to improve to 32.0 in May from 11.1 a month ago.

At 3.30 am ET, Germany’s flash PMI data is due. The composite index is seen at 34.1 in May versus 17.4 in the previous month.

At 4.00 am ET, Eurozone composite PMI data is due. The index is expected to advance to 25.0 in May from 13.6 in April.

In the meantime, industrial production and producer prices are due from Poland. Economists forecast industrial output to fall 10 percent annually in April, faster than the 2.3 percent decrease in March.

At 4.30 am ET, IHS Markit/CIPS publishes UK flash composite PMI data. Economists forecast the composite indicator to rise to 25.0 in May from 13.8 in April.

At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey data. The order book balance is forecast to fall to -59 percent in May from -56 percent in the preceding period.

At 7.00 am ET, Turkey’s central bank interest rate announcement is due. Economists expect the central bank to cut its one-week repo rate to 8.25 percent from 8.75 percent.

UK's divided response: Varied messages across four nations

When Boris Johnson announced the lifting of lockdown, the devolved nations refused to follow suit.

The United Kingdom remains deeply divided over how to respond to the coronavirus pandemic.

While restrictions have been eased in England, Scotland remains in lockdown.

Al Jazeera’s Halla Mohieddeen reports from Edinburgh, Scotland.

Stock Alert: Aurora Cannabis Climbs 27% As It Enters US Cannabidiol Market

Shares of Aurora Cannabis Inc. (ACB) are surging more than 27% Thursday morning after the company announced its decision to acquire U.S. based hemp-derived CBD retailer, Reliva. The acquisition will enable the company to enter the U.S. cannabidiol (CBD) market.

Wednesday the marijuana producer said, it has entered an agreement to buy Reliva.
The transaction is expected to be immediately accretive to Aurora on an Adjusted EBITDA basis.

As per the deal, members of Reliva will receive Aurora common shares worth approximately $40 million. The transaction also includes a potential earn-out of up to $45 million payable in Aurora shares, cash or a combination of the two.

The transaction is expected to close in June 2020.

Aurora stock is currently trading at $16.16. It has traded in the range of $5.30- $105.24 in the last one year.

British, US defence ministers discuss 'disinformation' from Russia, China

LONDON (REUTERS) – Britain’s defence minister Ben Wallace and his US counterpart Mark Esper discussed the need to tackle disinformation coming from Russia and China on Thursday (May 21), the British government said.

Wallace and Esper “discussed concerns about Russian and Chinese disinformation and agreed to continue to work together to mitigate the effects of this malign activity,” Britain’s Ministry of Defence said in a statement.

Stock Alert: Aurora Cannabis Climbs 27% As It Enters US Cannabidiol Market

Shares of Aurora Cannabis Inc. (ACB) are surging more than 27% Thursday morning after the company announced its decision to acquire U.S. based hemp-derived CBD retailer, Reliva. The acquisition will enable the company to enter the U.S. cannabidiol (CBD) market.

Wednesday the marijuana producer said, it has entered an agreement to buy Reliva.
The transaction is expected to be immediately accretive to Aurora on an Adjusted EBITDA basis.

As per the deal, members of Reliva will receive Aurora common shares worth approximately $40 million. The transaction also includes a potential earn-out of up to $45 million payable in Aurora shares, cash or a combination of the two.

The transaction is expected to close in June 2020.

Aurora stock is currently trading at $16.16. It has traded in the range of $5.30- $105.24 in the last one year.

Stock Alert: ZTO Express Falls 11% As Earnings Tumble

Shares of are ZTO Express (Cayman) Inc. (ZTO) are losing more than 11 percent or $3.86 in Thursday’s morning trade at $30.42 after the company reported a 46 percent plunge in profit for the first quarter from last year. The stock has traded in a range of $17.12 to $35.64 in the past 52 weeks.

ZTO Express is a provider of express delivery and other value-added logistics services in the People’s Republic of China.

Wednesday, ZTO Express said its net income for the first quarter was RMB371.0 million, or $52.4 million, down 46 percent from RMB681.6 million in the year-ago period. Earnings per American depositary share decreased 45 percent to RMB0.48, or $0.07, from RMB0.87 in the prior-year quarter.

Adjusted earnings per American depositary share or ADS were RMB0.82, or $0.12, compared to RMB1.23 in the prior-year period. Revenues declined 14 percent to RMB3.92 billion, or $553.0 million, from RMB4.57 billion last year.

Looking ahead, ZTO Express said it is confident in delivering positive top and bottom-line growth for the entire year.