U.S. Consumer Sentiment Dips More Than Expected In January

Preliminary data released by the University of Michigan on Friday showed a modest deterioration in U.S. consumer sentiment in the month of January.

The report said the consumer sentiment index dipped to 79.2 in January after jumping to 80.7 in December. Economists had expected the index to edge down to 80.0.

“Consumer sentiment posted trivial declines in early January despite the horrendous rise in covid-19 deaths, the insurrection, and the impeachment of Trump,” said Surveys of Consumers chief economist Richard Curtin.

He added, “Two offsetting shifts helped narrow the January loss in sentiment: the covid-19 vaccines and a partisan shift in expectations due to the anticipated impact of Biden’s economic policies.”

The report said the current economic conditions index fell to 87.7 in January from 90.0 in December, while the index of consumer expectations slipped to 73.8 from 74.6.

On the inflation front, one-year inflation expectations jumped to 3.0 percent in January from 2.5 percent in December and five-year inflation expectations rose to 2.7 percent from 2.5 percent.

A Sean Hannity Insult Of Joe Biden Enrages Twitter After Inauguration

Donald Trump sycophant Sean Hannity predictably attacked President Joe Biden on his inauguration day.

The Fox News host called Biden’s speech “forgettable” and akin to that of a high school president’s acceptance speech “from a guy who was desperately craving a nap.” He dismissed Biden’s calls for unity as “hollow” and “total and complete BS” and said he spouted “worn-out, liberal socialist cliches.”

But that’s not what really ticked off supporters of the president. It was when Hannity called him “the weak, the frail, the cognitively struggling Biden.” (See the 25:00 mark).

https://youtube.com/watch?v=GAGs2LH-V3w

Given how the commander in chief conquered a full day of ceremonies, speeches, signing executive orders and more, those were fighting words.

Fiat-PSA in Talks With Chinese Car Makers for Tie Up, Yicai Says

Fiat Chrysler Automobiles NV and PSA Group, which merged to create an auto giant, is in talks with China’s Chery Automobile Co. Ltd. and Guangzhou Automobile Group to create a joint venture, local media Yicai reported.

FCA and PSA completed its merger over the weekend, creating a new entity named Stellantis NV. The new group is planning to hold 75% of the shares in the venture, which will make a variety of vehicles from passenger cars to energy-efficient vehicles, according to Yicai, citing sources it didn’t identify.

Stellantis may also close an existing joint venture in China to offload some of its capacity, the publication said.

— With assistance by Yanping Li, and Yuan Gao

HCL Technologies Q3 Net Income Rises – Quick Facts

HCL Technologies Limited (HCLTECH) reported third quarter earnings per share of $0.20 compared to $0.16, a year ago. Net income to shareholders increased year-on-year to $539.64 million from $426.46 million. Third quarter revenues were $2.62 billion compared to $2.54 billion, a year ago.

HCL Technologies Limited along with its subsidiaries is primarily engaged in providing a range of IT and Business Services, Engineering and R&D services and Products & Platforms services. The company is incorporated in India.

Hays Plc Q2 LFL Fees Down 19% – Quick Facts

Hays plc (HAS.L) reported that in its second quarter, Group net fees continued to be significantly impacted by the pandemic, decreasing by 19% on a like-for-like basis from prior year. On an actual basis, net fees decreased by 16%, for the quarter.

As a result of stronger net fee performance, the Group expects first half operating profit to be approximately 25 million pounds.

Hays plc noted that any material sequential increase in profitability in the second half will require a further significant uplift in net fees.

Ivanka Trump Hit With The Cold, Hard Truth After Hyping Dad’s ‘Accomplishments’

Ivanka Trump touted the accomplishments of her father, President Donald Trump, on Twitter — and received a stark reminder of his administration’s many scandals, failings and controversies in response.

Critics called out the president’s daughter and adviser over the list that she shared from the White House website — noting how it conveniently didn’t mention the president’s catastrophic response to the coronavirus pandemic; his two impeachments for Ukraine misconduct and inciting last week’s U.S. Capitol riot; his ongoing promotion of conspiracy theories regarding the 2020 election; his repeated condoning of white supremacists and more.

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Sugar output rises 31% to 142.7 lakh tonnes: ISMA

Higher sugarcane supply to aid growth

The country’s sugar output rose by 31% to 142.7 lakh tonnes in the first three-and-a-half months of the 2020-21 marketing year that started in October, industry association ISMA said on Monday.

Production in India, the world’s second-largest sugar-producing country, had been recorded at 108.9 lakh tonnes till January 15 of the 2019-20 marketing year (October-September).

The Indian Sugar Mills Association (ISMA) has projected sugar output to rise 13% to 310 lakh tonnes in the 2020-21 marketing year on likely higher availability of sugarcane, as against 274.2 lakh tonnes last year.

Releasing the latest production update, ISMA said the country’s sugar output is higher by 33.76 lakh tonne so far this year as compared to last year’s production for the corresponding period.

It said 487 sugar mills were in operation in the said period as against 440.

Sugar production in U.P., the country’s leading sugar- producing State, remained slightly lower at 42.99 lakh tonnes till January 15, as against 43.78 lakh tonne in the year-earlier period.