Canopy jumps 25% after beating expectations across the board #ศาสตร์เกษตรดินปุ๋ย

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Canopy jumps 25% after beating expectations across the board

Feb 15. 2020
File Photo of cannabis/Syndication Washington Post, Bloomberg

File Photo of cannabis/Syndication Washington Post, Bloomberg
By Syndication Washington Post,  Bloomberg · Kristine Owram 

Canopy Growth Corp. jumped as much as 25% Friday, the biggest gain since 2018, after the world’s largest cannabis company by market value reported quarterly results that beat expectations across the board.

Canopy posted a 62% quarter-over-quarter jump in net revenue to C$123.8 million, which was well ahead of the consensus estimate of C$105.4 million. Cannabis gross revenue rose 8%, and Canopy said it took top market share in the quarter ended Dec. 31, capturing 22% of Canada’s recreational pot sales.

Its adjusted Ebitda loss of C$91.7 million was C$64 million narrower than the previous quarter, and beat the average analyst estimate of a C$110 million loss.

The results, which set a very different tone than Aurora Cannabis Inc.’s earnings Thursday, sent cannabis stocks higher Friday morning. Tilray Inc. gained 11%, Aphria Inc. rose 9.5% and Cronos Group Inc. added 9.8%.

Canopy cut its operating expenses by 14% in the quarter, boosting its gross margin to 34% from negative 13% in the previous quarter.

“We delivered significant gross improvement in the third quarter driven by stronger revenues and higher capacity utilization,” Chief Financial Officer Mike Lee said in a statement. “Actions taken earlier this year are expected to meaningfully reduce stock-based compensation in FY21, and we have started to implement tighter cost controls across the organization.” He added that further cost-cutting measures are planned.

Bill Kirk, analyst at MKM Partners, called the Ebitda beat “surprising” given the costs associated with preparing for the rollout of newly legal products in Canada, including beverages, edibles and vapes.

“We had expected only small improvements from the prior quarter, but Canopy is showing a meaningful progression,” Kirk wrote in a note. “That said, the path to profitability still remains very unclear.”

Boeing leaves Singapore empty-handed #ศาสตร์เกษตรดินปุ๋ย

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Boeing leaves Singapore empty-handed

Feb 14. 2020
Spectators wearing protective masks look and photograph an aerobatics team performing maneuvers at the Singapore Airshow in Singapore on Feb. 11, 2020. MUST CREDIT: Bloomberg photo by SeongJoon Cho.

Spectators wearing protective masks look and photograph an aerobatics team performing maneuvers at the Singapore Airshow in Singapore on Feb. 11, 2020. MUST CREDIT: Bloomberg photo by SeongJoon Cho.
By Syndication Washington Post, Bloomberg · Anurag Kotoky, Kyunghee Park

The giants of aviation left the Singapore Airshow with little to brag about, but someone ended up with one of the hottest deals in town: a couple of boxes of hand sanitizers.

Alarm over the novel coronavirus outbreak has led to panic-buying of unlikely hot commodities, from toilet paper and instant noodles to soap and even condoms, which people have been using as makeshift finger protectors — safe texts and all that. Bosses at one U.S. aerospace company were befuddled when they arrived at their corporate booth Thursday morning to find it had been liberated of hand sanitizers. Everything else — aircraft models, television sets and branded coat pins — was left untouched.

The priorities at Asia’s flagship aviation event were a far cry from normal. Many companies didn’t even show up because of concern over the virus, which has infected more than 60,000 people and killed 1,380, primarily in China. Attendance was thin and the executives who did attend headed for the door soon after finishing their meetings. The organizers advised attendees to avoid hand contact, leading to awkward greetings and elbow bumps.

Boeing, which is bedeviled with the 737 Max grounding and failed to sign any orders at all in January, didn’t announce any deals. Neither did Airbus, beyond its helicopter unit selling some trainer aircraft to the Thai military. A highlight of the show was PNG Air ordering three ATR 42-600S aircraft. Last year’s Paris Air Show heralded 610 commitments for new planes between Boeing and Airbus alone. A year earlier in Farnborough, England, there were almost 1,000 orders worth $141 billion.

By Thursday afternoon, the third day of the Singapore show, many company booths were empty. Some had closed shop after the first day. There was hardly a soul at the static display area. Even pilots, who tend to enthusiastically show off private jets to the ultra-rich at air shows, were nowhere to be found. At least one company said executives who came to the event from overseas will have to go through self-quarantine upon their return.

The organizers of the Singapore Airshow didn’t immediately respond to requests for comment on the event.

The signs were ominous before the show began, with Singapore raising its disease response level to second-highest, prompting companies such as F-35 fighter-jet maker Lockheed Martin and Commercial Aircraft Corp. of China to pull out from the event. The news of several coronavirus cases in Europe being linked to a British man who attended a business meeting at Singapore’s Grand Hyatt hotel last month added to the gloom.

From the events that took place, Boeing’s 737 Max dominated conversations. The global grounding of the single-aisle plane following two crashes has cost the U.S. plane manufacturer an estimated $18.6 billion. There’s still no real clarity on when it will fly again, and that’s hurting suppliers such as United Technologies Corp. and Spirit AeroSystems Holdings Inc., which has slashed its dividend and laid off 2,800 employees.

Boeing said it will take several quarters to return the 737 Max to the skies globally, which means about 700 of the jets are stuck on the tarmac. The company plans to resume production of the aircraft before regulators give it the green light to get back in the air. Budget carrier SpiceJet Ltd. said at the air show that Boeing will bear the expenses of setting up a simulator in India.

One of the biggest beneficiaries of the Max crisis, at least on paper, is Airbus. The European planemaker said it expects 1,000 orders in the next 10 years for its A321XLR jet, the newest and longest range model of its best-selling A320 family. Boeing is considering a new aircraft that may potentially compete with the latest Airbus.

Even Airbus’s announcement this week for an outline agreement to sell 50 A220 planes was made in London rather than Singapore. Most executives had left the show by that time anyway, and taxi drivers were offering discounts for rides back to the center of the city.

ICECREAM-ADS: Unilever will stop marketing to kids in an effort to curb childhood obesity #ศาสตร์เกษตรดินปุ๋ย

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https://www.nationthailand.com/business/30382154?utm_source=category&utm_medium=internal_referral

ICECREAM-ADS: Unilever will stop marketing to kids in an effort to curb childhood obesity

Feb 14. 2020
By The Washington Post · Laura Reiley · BUSINESS, HEALTH

Unilever, one of the oldest multinational consumer goods companies, pledged this week to stop advertising ice cream to children. By the end of this year, the company will stop marketing and advertising foods and beverages to children under the age of 12 in television and print, and for children under 13 via social media channels.

Unilever may not leap to mind when it comes to frozen dairy confections, but it should. The company owns premium brands Ben & Jerry’s and Talenti, workhorse ice creams Breyers, Klondike and Good Humor, and specialty bars and ice cream treat brands Magnum, Cornetto, Viennetta, Choc Ice and others.

“The World Health Organization names childhood obesity as one of the most serious public health issues of the 21st century. And it’s a key reason why Unilever is committing to new principles on marketing and advertising foods and beverages to children,” the company said in a statement.

The company says it will not run ads on television and other media where children under 12 represent more than 25 percent of the audience. It will not promote ice cream products in schools or children’s films. In addition, Unilever said it won’t employ celebrities or social media influencers or use licensed cartoon characters in marketing that appeals primarily to kids under 12.

Obesity rates for children and adolescents have more than tripled since the 1970s, and experts say a drop of just a few percentage points could save thousands of children from diabetes, heart disease and other health problems. According to a National Survey of Children’s Health report released in October, obesity rates among youths ages 10 to 17 averaged 15.3 percent nationwide, with a childhood obesity rate hitting 25.4 percent in Mississippi.

This is not the first time Unilever has pledged to restrict advertising aimed at children. In 2010, the company joined 18 of the world’s largest food corporations in signing the Children’s Food and Beverage Advertising Initiative (CFBAI), pledging not to advertise Skippy and Popsicle brands to children younger than six. For children between the ages of 6 and 11, it would advertise those food and beverage products that met certain nutrition criteria.

While brands like Magnum, Ben and Jerry’s and Breyers are marketed more to adults, Good Humor targets children directly via ice cream trucks. With this week’s announcement, Unilever also debuts a “Responsibly Made for Kids” label. By the end of 2020, every ice cream in the kids’ range will have no more than 110 calories and a maximum of 12 grams of sugar per portion.

“It’s a move designed to help parents, caregivers and kids make informed choices about the food and drinks they buy, and to address the rise of social media, and the vast increase in products on sale,” the Unilever statement said.

Fran Fleming-Milici, director of marketing initiatives for the nonprofit Rudd Center for Food Policy and Obesity, says that to meet that sugar limit, many products may have added artificial sugars, something not recommended for children. And while she sees Unilever’s announcement as a step in the right direction, she says government regulation is essential.

“Their bottom line is profit, not public health,” she said. “Without policies that put some rules around marketing to children across all companies, it’s hard to believe one company is going to sacrifice its profits to effectively reduce consumption of unhealthy foods. Policies would be good in that sense because they level the playing field.”

Shu Wen Ng, an associate professor in the nutrition department at the University of North Carolina at Chapel Hill, says that many food and beverage companies voluntarily restrict their marketing to kids as a means of delaying stronger regulations.

“They can say, ‘We’ve already done all these things and we’re being proactive,’ as a delay tactic,” she said. “They can pledge things that sound great but have a lot of loopholes.”

She says that companies may make pledges of this sort to get credit for portion-size changes or ingredient reformulations they were already considering in anticipation of the Food and Drug Administration’s Nutrition Facts labels, which went into effect last month. The new nutrition panels list total calories in a bigger font, and serving size requirements have changed to reflect what people actually eat (read: more). And for the first time, the label calls out added sugar as opposed to those naturally occurring and updates the list of nutrients required or permitted to be declared on the label.

Unilever did not respond to a request for further details about the announcement.

Latin American countries such as Chile have led the way in reducing children’s exposure to advertisements. Foods high in added sugar, saturated fats, calories and added sodium must display black stop signs on front-of-package labels. Nothing with black stop signs can be sold or promoted in schools or included in child-targeted television ads or marketing strategies aimed at children. Consumption of sugar-sweetened drinks dropped nearly 25 percent after Chile adopted the rules in 2016.

In the United States, food, beverage and restaurant companies spent $13.5 billion in advertising in all media in 2016, according to the Rudd Center, a 7 percent increase since 2007 despite those commitments from major food companies who signed the Children’s Food and Beverage Advertising Initiative.

Unilever’s total revenue dropped to $58.22 billion in 2019 from $60.32 billion in 2017, and lagging ice cream sales may have contributed: Per capita consumption has trended downward, with people eating 20 percent less ice cream per year in 2018 than in 2000. In December, Nestle, the other dominant ice cream company, sold its U.S. ice cream business altogether.

Krungthai Card sees continuous growth in net profit #ศาสตร์เกษตรดินปุ๋ย

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Krungthai Card sees continuous growth in net profit

Feb 14. 2020
Rathian Srimongkol

Rathian Srimongkol
By THE NATION

SET-listed credit card service provider Krungthai Card Plc (KTC) expects continuous growth in its net profit this year. However, said chief executive officer Rathian Srimongkol, total spending of cardholders might miss the 15-per cent growth target year on year due to the current economic conditions and impacts from the coronavirus outbreak.

The company has targeted a 10-per cent growth year on year in personal loan.

To capitalise on the low interest rate trend, KTC planned to issue new corporate bonds of between Bt10 billion-Bt12 billion to refinance those reaching maturity and to fund business expansion.

The rich can probably escape new laws on inherited IRAs. But the rest of us can’t. #ศาสตร์เกษตรดินปุ๋ย

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The rich can probably escape new laws on inherited IRAs. But the rest of us can’t.

Feb 14. 2020
Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism's highest honor.

Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism’s highest honor.
By The Washington Post · Allan Sloan · OPINION

If you’ve got tons of money in your Individual Retirement Accounts, you can probably buy your way around the new rules for inherited IRAs. But if you’ve got merely pounds of IRA money, you’ve gotten sandbagged.

No one is shouting this from the rooftops, of course. But it’s the logical -and distasteful- conclusion that you reach if, like me, you’ve taken a look at ways to get around the new laws that limit the life of bequeathed IRAs to 10 years if you give them to anyone but a surviving spouse or sick or disabled beneficiaries.

Before this year started, you could bequeath your IRAs to anyone you wanted. The recipient had to take “required minimum distributions” every year – but those distributions -which are taxable- were stretched out based on the recipient’s presumed life span. The younger the recipient, the smaller the distributions the inheritor had to take.

You can see why estate planners loved these “stretch IRAs.” IRA holders could pass on assets to people two or three generations younger, no muss, no fuss, no estate tax.

Under the new rules – which took effect Jan. 1, less than two weeks after the SECURE Act became law – stretch IRAs for non-spouses were pretty much eliminated.

However, if you’ve got the money and the incentive, you can probably create what I call a “synthetic stretch IRA.” For example, you can set up a trust to which you bequeath your IRA, with the trust instructed to pay lifetime income to whomever you choose on whatever terms you like.

I’m sure there are other, less obvious work-arounds, all of which – at least for now – are high-cost and possibly legally risky. But over time, I’m sure, specialists will find loopholes for their clients’ IRAs to squeeze through.

People with tons of money – let’s call them the rich – will be able to afford to play the games required to create synthetic stretch IRAs. People with pounds of money – the middle class and upper-middle class – won’t be able to play.

To be sure – three of my favorite weasel words – being able to sit on an inherited IRA for up to 10 years without being required to take annual distributions isn’t ungenerous. But it’s nowhere as generous as the old rules, which lots of people, including me, used as part of their estate planning.

I’ve got no problem with people who say – correctly – it was ridiculous for IRA holders who were saving for their own retirement to be able to bequeath IRAs to people two or three generations behind them.

But I’ve got a big problem with the way that Congress and President Donald Trump changed the rules, which had been in effect since 1985, with essentially no notice. The change took effect on Jan. 1 – a mere 12 days after the SECURE Act became law.

I would have had no problem with cutting back stretch IRAs had there been a phase-in period of several years. Or better yet, if the new rules applied only to IRAs created after the legislation was passed.

However, Congress and Trump felt the need to limit stretch IRAs to make up for federal revenue losses created by raising the age at which IRA holders have to begin taking required minimum distributions to 72 from the previous 70 1/2.

That change was fair, given the rising life spans for people who make it into their eighth decade. Why Congress and Trump felt the need to make up the revenue losses from this change – but not from reducing estate taxes in 2017 – is beyond me.

The SECURE Act was the second time in three years that the government changed long-standing tax rules – with little notice – that people relied on. The first one, of course, was the tax law that Trump and congressional Republicans passed in late 2017 that limited federal deductions for state and local taxes to $10,000 a year. Those deductions had been unlimited since the creation of the federal income tax in 1913.

I’ll spare you my customary rant about this law, which Trump signed on Dec. 22 and took effect 10 days later. It has hurt people who live in high-home-price, high-tax blue states, including my home state of New Jersey, and homeowners all over the country. And as I wrote in October the law has held home equity – the biggest financial asset for tens of millions of homeowners about $1 trillion below where it would otherwise have been.

I’m linking the SECURE Act and the 2017 tax law because in both cases, long-standing federal tax benefits were stripped away almost overnight.

The stretch IRA situation is especially interesting. According to Steve Rosenthal, senior fellow at the Urban-Brookings Tax Policy Center, stretch IRAs were created by the Deficit Reduction Act of 1984 and took effect on Jan. 1, 1985. Before that, any non-spouse inheritor of an IRA had to liquidate it within five years.

Congress’s intention, Rosenthal said, based on information he found in the Congressional Joint Committee on Taxation’s 1984 Bluebook, was to help participants plan their estates better. Which is ironic, considering what the SECURE Act has now done.

The bottom line here? “Perhaps Congress should add ‘buyer beware’ to any legislated tax benefits,” Rosenthal said.

To which I can only add, amen.

Solar and wind power can’t compete with gas this cheap #ศาสตร์เกษตรดินปุ๋ย

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https://www.nationthailand.com/business/30382181?utm_source=category&utm_medium=internal_referral

Solar and wind power can’t compete with gas this cheap

Feb 15. 2020
By Bloomberg · Naureen Malik, Brian Eckhouse 

This will almost certainly be a record-breaking year for the advance of solar and wind power across the U.S. The additions that are in progress or planned are significant enough to boost hopes for emissions-free electrical grids within a generation-if natural gas doesn’t get in the way.

It just may. Gas is such a bargain that it’s being viewed less as a bridge fossil fuel, driving the world away from dirtier coal toward a clean-energy future, and more as a hurdle that could slow the trip down. Some forecasters are predicting prices will stay low for years, making it tough for states, cities and utilities to achieve their goals of being zero-carbon in power production by 2050 or earlier.

“The fact that there’s an abundance of it makes the move to complete decarbonizaton much harder,” says Ravina Advani, head of energy, natural resources and renewables at BNP Paribas. Gas is a tough competitor. “It’s reliable and it’s cheap.”

The flood of inexpensive gas does have a big environmental upside, because it’s putting increased pressure on struggling coal plants that contribute significantly to global warming. But it’s also squeezing margins for nuclear reactors, which are the U.S.’s biggest source of carbon-free power. And it’s driving utilities to lay down infrastructure that could ensure gas remains central to the power mix for decades.

Solar and wind are certainly winning in many markets on price alone. Without cheap gas, though, the renewables build-out would be faster, says Cody Moore, head of gas and power trading at Mercuria Energy America. “Absolutely, 100%.”

Rising exports of liquefied natural gas from the U.S. Gulf Coast to Siberia will probably keep prices down and expand developing economies’ reliance on the fuel. The International Energy Agency expects global gas consumption to climb through 2040. “We’re using solar and wind more than ever, but until we’re very purposeful about trying to subtract some fuels that we’re using, history shows us that market forces alone won’t successfully push fossil fuels out of the energy mix,” says Noah Kaufman, a research scholar at Columbia University’s Center on Global Energy Policy.

None of this is to say that renewable investments in the U.S. haven’t been on a tear. They went up 28% last year to a record $55.8 billion, according to BloombergNEF. Between now and 2050, renewable power will be the fastest-growing source of electricity, accounting for 38% of generation, according to the U.S. Energy Information Administration.

That, of course, isn’t the percentage envisioned by the likes of the state of California, the city of Pittsburgh and the Minneapolis-based utility Xcel Energy, which are among the governments and power providers that have target dates between 2030 and 2050 for cleaning carbon emissions out of their grids.Whatever the price, natural gas will have to continue to fill the gap for some time because renewable generators need the strength of wind or sun to do their jobs. The battery power-storage technologies that could cut every grids’ ties to fossil fuels are only slowly being added to systems.

Without them, “we cannot go 100% renewable,” says Tom Rumsey, a senior vice president at Competitive Power Ventures, which builds both gas-fired and renewable plants. “There are these moonshot goals, which drive policy behavior. But the reality is, how do you maintain grid reliability without a breakthrough in storage? You are going to need fossil fuels.”

There’s widespread agreement among forecasters, policymakers and increasingly business leaders that solar and wind will win out in the end. Ultimately, “gas plants will meet the same reality as coal,” says Jules Kortenhorst, chief executive officer of the Rocky Mountain Institute, a nonprofit focused on delivering a low-carbon future. “It’s just a question of when.” Gas prices may define the answer.

(Michael R. Bloomberg, the founder and majority stakeholder of Bloomberg LP, the parent company of Bloomberg News, has committed $500 million to launch Beyond Carbon, a campaign aimed at closing the remaining coal-powered plants in the U.S. by 2030 and slowing the construction of new gas plants.)

Valentine’s Day spending expected to rise 32% #ศาสตร์เกษตรดินปุ๋ย

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Valentine’s Day spending expected to rise 32%

Feb 15. 2020
By Syndication Washington Post,  Bloomberg · Janet Freund 

Record spending this Valentine’s Day could give a boost to specialty retailers, according to the National Retail Federation.

Total spending for the holiday is expected to increase 32% to $27.4 billion compared to 2019’s record level of $20.7 billion.

A survey by the trade group found that more people said they would buy presents this year than they did last year, and average per-person spending is also projected to rise, to nearly $200.

“Valentine’s Day is a sentimental tradition, but gift-giving can be driven by the economy,” NRF President and CEO Matthew Shay said in a statement. “The same strong employment numbers and higher wages that boosted [Christmas] holiday sales should make it easier to spend a little extra to say ‘I love you’ this year and to spread the gift-giving beyond just your significant other.”

One of the companies looking to capitalize on the growth is 1-800-Flowers.com. It expects to deliver about 18.5 million stems for Valentine’s Day, the second biggest floral holiday behind Mother’s Day. Valentine’s sales represent about 3.5% of the company’s total consolidated annual revenue, CEO Chris McCann said in an interview on Bloomberg Radio. Valentine’s Day falling on a Friday this year should also boost demand, he said.

Northcoast Research analyst Tim Vierengel said in an email that flower retailers seem to be taking a more “rational” approach to promotional activity this year, “which should reflect in the bottom line if sales are strong like we expect.”

China trade war walloped more than half of states in 2019 #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30382172?utm_source=category&utm_medium=internal_referral

China trade war walloped more than half of states in 2019

Feb 15. 2020
By Syndication Washington Post, Bloomberg · Anita Sharpe 

Exporters from most states experienced dismal sales to China last year as tariffs slammed products ranging from wheat and whiskey to ginseng and gas.

Total U.S. merchandise exports to China fell 11% last year to about $107 billion, according to the latest data from the Commerce Department. Particularly hard hit were some of the nation’s largest exporters to the Asian country — Texas, Florida and Alabama — which each saw sales plunge by more than 25%.

The figures don’t yet reflect two significant developments for the world economy this year: The U.S-China trade deal signed in January that is supposed to significantly boost American exports to China and the coronavirus outbreak in the Asian nation.

Amid the casualties, though, were some bright spots, including the presidential swing state of North Carolina, where exports to China jumped 40% last year to $3.25 billion, driven in large part by pharmaceutical sales.

China’s appetite for tobacco from North Carolina waned last year to virtually nothing, said John Loyack, vice president of the Economic Development Partnership of North Carolina. But drug companies more than filled the void by shipping $1.3 billion worth of products, Loyack said. Corporations ranging from Denmark’s Novo Nordisk Pharmaceutical Industries to New Jersey-based Merck & Co. have set up major operations in North Carolina in recent years, making it one of the top pharmaceutical-industry states in the U.S.

The relaxing of Chinese restrictions on certain medical imports helped boost sales, he said. “To be honest, we thought we’d be taking it in the teeth in 2019,” he said. “But it was an amazing year.”

The U.S. and China trade deal, which includes commitments to roll back tariffs, is set to go into effect Friday. In the first year of the deal, China committed to buy an extra $76.7 billion of American goods beyond what it did in 2017, and an additional $123.3 billion in the second year. Already, China is seeking flexibility around these commitments as the coronavirus outbreak takes a toll on the economy, Bloomberg News reported.

Still, the pact may improve the environment for U.S. exporters — including for some of last year’s biggest losers like Texas, where exports to China fell 34%, according to the Commerce Department data.

Don’t cry too hard for the Lone Star state. It’s far and away the largest exporter in the U.S. and saw its worldwide sales increase 5% in 2019 from a year earlier.

“We are not that dependent on China,” said Jesus Canas, an economist at the Federal Reserve Bank of Dallas. The country represents between 3%-5% of Texas’ exports, he said.

Other U.S. states seeing a double-digit sales drop to China last year included Alabama — with its growing base of vehicle assembly plants — and Florida, which is one of the largest U.S. exporters of gold.

Exports to China from the state of Washington fell 44%, due in large part to the grounding of Boeing’s most popular plane, the 737 Max.

Despite the phase-one trade deal, it’s too early to tell how much U.S. exports to China will improve this year. “The uncertainty piece looks better,” said Canas, referring to the January agreement.

On the other hand, the deadly virus spreading beyond China adds a different element of uncertainty. “Corovavirus is a model of what the trade war might have done if it had escalated,” said Tee Bordelon, vice president of ImmunoReagents Inc.,which has been selling antibodies to China for the past decade.

U.S. stocks drift on retail sales, virus data #ศาสตร์เกษตรดินปุ๋ย

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https://www.nationthailand.com/business/30382170?utm_source=category&utm_medium=internal_referral

U.S. stocks drift on retail sales, virus data

Feb 15. 2020
By Syndication Washington Post, Bloomberg · Todd White, Vildana Hajric 

U.S. equities fluctuated after steady if uninspiring figures for retail sales and as investors assessed contrasting data from China on how the coronavirus is spreading. Treasuries advanced.

The S&P 500 Index gave up early-session gains, as chipmaker Nvidia Corp. and travel giant Expedia Group Inc. jumped after strong forecasts, while Arista Networks Inc. slumped after its 2020 outlook underwhelmed. U.S. retail sales rose in January for a fourth straight month, though the prior month’s gain was revised lower, while consumer sentiment hit its highest since 2018.

“As virus concerns continue to linger, and presumably will be a focal point in the near future, U.S. retail health is largely immune from the virus, so we likely won’t see any impact on this data, especially this early,” said Mike Loewengart, vice president of investment strategy at E-Trade Financial. “What’s really important for investors to remember is that fundamentals are strong and our economy still continues to grow — debunking expectations of 2020 stagnation, at least for now.”

Oil held above $51 a barrel in New York, and the dollar kept close to its level versus a basket of peers after the retail sales data. Gold gained and the yen held steady.

The Stoxx Europe 600 Index closed lower Friday but was up for the week. The euro steadied near a 2017 low after data showed the region’s economy grew a scant 0.1% in the fourth quarter, matching forecasts. Major Asian equity markets climbed except for those in Tokyo and Mumbai.

While Beijing reported a smaller increase in virus cases in the epicenter of Hubei versus the previous day, they were still more than before counting methodology was changed. That’s clouded the picture of the outbreak in a week that’s seen Chinese airlines put workers on leave and firms such as drugmaker AstraZeneca Plc warn of a tougher outlook because of the disease.

Nonetheless, investors anticipate a possible V-shaped economic recovery from the virus, even as the effects continue to be felt. Nearly 86,000 domestic and international flights in and out of China were canceled from Jan. 23 to Feb. 11. That’s 34% of scheduled services.

Hubei reported almost 5,000 new cases, a day after confirming nearly 15,000. The death toll in China was at 1,380, lower by more than 100 to account for some double-counting. The World Health Organization has said the surge in diagnoses didn’t necessarily indicate a spike in infections.

These are the main moves in markets:

Stocks:

– The S&P 500 Index was little changed at 3,373.56 as of 12:20 p.m. New York time.

– The Stoxx Europe 600 Index dipped 0.1% to 430.52.

– The MSCI Asia Pacific Index declined 0.1% to 170.42.

– The MSCI Emerging Market Index decreased 0.1% to 1,105.35.

Currencies:

– The Bloomberg Dollar Spot Index was little changed at 1,207.28.

– The euro declined 0.1% to $1.0833, the weakest in almost three years.

– The British pound dipped 0.1% to $1.3037, the first retreat in a week.

– The offshore yuan weakened 0.1% to 6.9953 per dollar.

– The Japanese yen appreciated 0.1% to 109.75 per dollar, the strongest in more than a week.

Bonds:

– The yield on 10-year Treasuries declined four basis points to 1.58%.

– The yield on two-year Treasuries decreased two basis points to 1.42%.

– Germany’s 10-year yield fell two basis points to -0.40%.

– Britain’s 10-year yield fell two basis points to 0.628%, the largest fall in a week.

Commodities:

– West Texas Intermediate crude gained 0.6% to $51.73 a barrel, the highest in two weeks.

– Gold strengthened 0.4% to $1,582.64 an ounce, the highest in almost two weeks.

– LME copper climbed 0.5% to $5,790 per metric ton, the highest in almost three weeks.

Soft loans for tourism operators mulled in bid to avert worker layoff #ศาสตร์เกษตรดินปุ๋ย

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Soft loans for tourism operators mulled in bid to avert worker layoff

Feb 15. 2020
Uttama Savanayana

Uttama Savanayana
By THE NATION

The Finance Ministry may extend soft loans to operators in the tourism sector, currently reeling from the coronavorus crisis, as a means to avert a mass layoff of workers.

Minister Uttama Savanayana made the remark on Friday (February 14) after a meeting of the ministry’s agencies on measures to mitigate impact of the virus on the sector.

Soft loan was one of the options discussed in the meeting, he said, adding that the meeting focused on short-term measures.

The Finance Ministry may also offer incentives to tourism operators as an encouragement for keeping their employees, Uttama said.

Deputy Prime Minister Somkid Jatusripitak, who presided over the meeting, said he had instructed all state agencies present in the meeting to immediately draw up measures and rush them to the Cabinet. He wants to see their implementation in March.

Somkid added that both the finance and tourism ministries would have to launch new packages to promote domestic travel by Thais. For example, there should be a package designed for elderly travellers and their kids can use their travel spending receipts for a deduction in income tax.