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News Slideshows (05/22/2020 - #vlrPhone #android)


  • 1/27   News Photos Slideshows
    PEOPLE TOPIC NEWS

    News Photos Slideshows - Hot Trends - Click on the image to view in augmented reality or in stereo 3D

    News Photos Slideshows - Hot Trends - Click on the image to view in augmented reality or in stereo 3D


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  • 2/27   Press Review #3d #audio
    TECHNOLOGY TOPIC NEWS

    

 - Covid 19 Pandemic | 3D audio Market 2020 Trending Technologies, Developments, Key Players and Forecast to 2025 - News Distinct   More Information - PS5 3D Audio Hyped By Sony As Offering 'Diverse And Sophisticated Experience' - PlayStation Universe   More Information - Apple’s iPhone 12 Might Get This Incredible 3D Audio Recording Feature - idropnews.com   More Information - What is 8D audio, and how can you experience it? - Digital Trends   More Information - Apple Reveals Binaural Video Recording to provide iPhones with 3D Sound Capture extending to VR Experiences - Patently Apple   More Information - Samsung’s 2020 soundbar lineup to be offered for sale starting this month - TechHive   More Information - World coronavirus Dispatch: Analytical insights about 3D Audio Market provided in detail - Bulletin Line   More Information - 3D Audio Market Development, Trends, Key Driven Factors, Segmentation And Forecast to 2020-2026 - Cole of Duty   More Information - North Shore Audio-Vestibular Lab Now Offers 3D Ear Scanning Powered by Lantos - GlobeNewswire   More Information - 3D Audio Market Key Manufacturers Analysis to (2020-2025) – Cole Reports - Cole of Duty   More Information - 3D Audio Market Set for Rapid Growth During 2020 – 2027 | Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs - Cole of Duty   More Information - 3D Audio Market 2020: Pre & Post COVID-19 Analysis – The prNews Register - The prNews Register   More Information - Sony claims that PS5 will be 100 times faster than PS4 | Clocked - Happy Mag   More Information - 3D Audio Market Updates - Latest Insights On Trends - openPR   More Information - Cover COVID 19: 3D audio Market Size : Industry Growth, Competitive Analysis, Future Prospects and Forecast 2025 - Cole of Duty   More Information - 3D Audio Market By Size, Analysis, Research, Share 2026| – Weekly Wall - Weekly Wall   More Information - Recent Advancement & Scope in 3D Audio Market 2027 with top key players like Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs, DTS – 3w Market News Reports - 3rd Watch News   More Information - What is “4K audio” and does it even exist? - Pickr   More Information - 3D Audio Market Tremendous Growth till 2027 | Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs, DTS, Hooke Audio, Fraunhofer, Dysonics - Cole of Duty   More Information - Impact of COVID-19 on 3D Audio Market: Value Chain, Dynamics and Key Players OSSIC, 3D Sound Labs, Comhear Inc., Dolby Labs, Auro Technologies Inc, etc - MENAFN.COM   More Information


Did you see the #crowdfunding campaign that @whmsoft will start? #tailored #3d #vr #audio.
Please share and comment. Campaign link:



vlrFilter Project #kickstarter

    - Covid 19 Pandemic | 3D audio Market 2020 Trending Technologies, Developments, Key Players and Forecast to 2025 - News Distinct
       More Information

    - PS5 3D Audio Hyped By Sony As Offering 'Diverse And Sophisticated Experience' - PlayStation Universe
       More Information

    - Apple’s iPhone 12 Might Get This Incredible 3D Audio Recording Feature - idropnews.com
       More Information

    - What is 8D audio, and how can you experience it? - Digital Trends
       More Information

    - Apple Reveals Binaural Video Recording to provide iPhones with 3D Sound Capture extending to VR Experiences - Patently Apple
       More Information

    - Samsung’s 2020 soundbar lineup to be offered for sale starting this month - TechHive
       More Information

    - World coronavirus Dispatch: Analytical insights about 3D Audio Market provided in detail - Bulletin Line
       More Information

    - 3D Audio Market Development, Trends, Key Driven Factors, Segmentation And Forecast to 2020-2026 - Cole of Duty
       More Information

    - North Shore Audio-Vestibular Lab Now Offers 3D Ear Scanning Powered by Lantos - GlobeNewswire
       More Information

    - 3D Audio Market Key Manufacturers Analysis to (2020-2025) – Cole Reports - Cole of Duty
       More Information

    - 3D Audio Market Set for Rapid Growth During 2020 – 2027 | Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs - Cole of Duty
       More Information

    - 3D Audio Market 2020: Pre & Post COVID-19 Analysis – The prNews Register - The prNews Register
       More Information

    - Sony claims that PS5 will be 100 times faster than PS4 | Clocked - Happy Mag
       More Information

    - 3D Audio Market Updates - Latest Insights On Trends - openPR
       More Information

    - Cover COVID 19: 3D audio Market Size : Industry Growth, Competitive Analysis, Future Prospects and Forecast 2025 - Cole of Duty
       More Information

    - 3D Audio Market By Size, Analysis, Research, Share 2026| – Weekly Wall - Weekly Wall
       More Information

    - Recent Advancement & Scope in 3D Audio Market 2027 with top key players like Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs, DTS – 3w Market News Reports - 3rd Watch News
       More Information

    - What is “4K audio” and does it even exist? - Pickr
       More Information

    - 3D Audio Market Tremendous Growth till 2027 | Dolby Laboratories, Core Sound LLC, Auro Technologies, 3D Sound Labs, DTS, Hooke Audio, Fraunhofer, Dysonics - Cole of Duty
       More Information

    - Impact of COVID-19 on 3D Audio Market: Value Chain, Dynamics and Key Players OSSIC, 3D Sound Labs, Comhear Inc., Dolby Labs, Auro Technologies Inc, etc - MENAFN.COM
       More Information


    Did you see the #crowdfunding campaign that @whmsoft will start? #tailored #3d #vr #audio. Please share and comment. Campaign link:

    WhmSoft

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  • 3/27   PHOTOS: Fluorescent turtle embryo wins forty-fifth annual Nikon Small World Competition

    The winners of the 45th annual competition showcase a spectacular blend of science and artistry under the microscope.

    The winners of the 45th annual competition showcase a spectacular blend of science and artistry under the microscope.


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  • 4/27   7 tax scams to watch out for this year

    In case wringing your hands over the tax man weren’t enough, criminals are out there trying to swipe your hard-earned cash and personal information from right under your nose.

    In case wringing your hands over the tax man weren’t enough, criminals are out there trying to swipe your hard-earned cash and personal information from right under your nose.


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  • 5/27   Mother Angry After School's Robocall Keeps Mispronouncing Daughter's Name As A Racial Slur

    The daughter's name is Nicarri.

    The daughter's name is Nicarri.


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  • 6/27   What the CIA thinks of your anti-virus program

    PARIS (AP) — Peppering the 8,000 pages of purported Central Intelligence Agency hacking data released Tuesday by WikiLeaks are reviews of some of the world's most popular anti-virus products.

    PARIS (AP) — Peppering the 8,000 pages of purported Central Intelligence Agency hacking data released Tuesday by WikiLeaks are reviews of some of the world's most popular anti-virus products.


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  • 7/27   Avowed Apple Fan Jeb Bush Realizes His Apple Watch Can Take Phone Calls

    Jeb Bush's love of Apple products has been widely documented, and the Republican presidential candidate continues to wear his Apple Watch on the campaign trail. Yesterday, in a meeting with The Des Moines Register editorial board documented by USA Today, Bush stumbled upon a feature he didn’t realize his smartwatch was capable of: taking phone calls. Somehow Bush managed to take a call without picking up his iPhone, and the sound of a person’s voice saying hello breaks through the meeting noise, to which Bush responds, “My watch can’t be talking.”

    Jeb Bush's love of Apple products has been widely documented, and the Republican presidential candidate continues to wear his Apple Watch on the campaign trail. Yesterday, in a meeting with The Des Moines Register editorial board documented by USA Today, Bush stumbled upon a feature he didn’t realize his smartwatch was capable of: taking phone calls. Somehow Bush managed to take a call without picking up his iPhone, and the sound of a person’s voice saying hello breaks through the meeting noise, to which Bush responds, “My watch can’t be talking.”


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  • 8/27   Social media welcomes Pope Francis to the United States

    Pope Francis gets the social media treatment upon arriving in the U.S. Tuesday.  As Pope Francis’s flight touched down in Washington, D.C. on Tuesday, Twitter unveiled a new batch of emojis created for the highly anticipated papal visit.  Until his departure from the United States on Sunday, Twitter users chronicling the Catholic leader’s East Coast journey will be able to include a cartoon image of the Pope’s face in front of the American flag on all Pope-related tweets by using the hashtag #PopeinUS.

    Pope Francis gets the social media treatment upon arriving in the U.S. Tuesday. As Pope Francis’s flight touched down in Washington, D.C. on Tuesday, Twitter unveiled a new batch of emojis created for the highly anticipated papal visit. Until his departure from the United States on Sunday, Twitter users chronicling the Catholic leader’s East Coast journey will be able to include a cartoon image of the Pope’s face in front of the American flag on all Pope-related tweets by using the hashtag #PopeinUS.


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  • 9/27   The Latest: India reports largest single-day virus spike
    TECHNOLOGY TOPIC NEWS

    — South Korean authorities reviewing technology from Apple and Google designed to fight virus spread.  — U.N. chief again urges global cease-fire to help tackle pandemic.  NEW DELHI, India — India has reported 6,088 new coronavirus cases in the last 24 hours for its biggest single-day spike, increasing the country's total number of infections to 118,447.

    — South Korean authorities reviewing technology from Apple and Google designed to fight virus spread. — U.N. chief again urges global cease-fire to help tackle pandemic. NEW DELHI, India — India has reported 6,088 new coronavirus cases in the last 24 hours for its biggest single-day spike, increasing the country's total number of infections to 118,447.


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  • 10/27   Gail India issues tender to buy and sell LNG cargoes: sources
    TECHNOLOGY TOPIC NEWS

    Gail (India) has issued a tender offering two liquefied natural gas (LNG) cargoes for loading in the United States, and is seeking a cargo for delivery into India, two industry sources said on Friday.  It offered two cargoes to load from the Cove Point plant in the U.S. on a free-on-board (FOB) basis loading in late-June and July, they said.  It is also seeking a cargo for delivery into India, in May or August 2021, on a delivered ex-ship (DES) basis, they added.

    Gail (India) has issued a tender offering two liquefied natural gas (LNG) cargoes for loading in the United States, and is seeking a cargo for delivery into India, two industry sources said on Friday. It offered two cargoes to load from the Cove Point plant in the U.S. on a free-on-board (FOB) basis loading in late-June and July, they said. It is also seeking a cargo for delivery into India, in May or August 2021, on a delivered ex-ship (DES) basis, they added.


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  • 11/27   Wary India Funds Still Refuse to Buy All But the Safest Debt
    TECHNOLOGY TOPIC NEWS

    (Bloomberg) -- Money managers in India have become so concerned about credit risk that even guarantees from policymakers for lower-rated debt is failing to entice them.Sentiment soured after Franklin Templeton, a big buyer of high-yield Indian notes, shut six debt funds in April. And this week, the market regulator allowed some bond funds to hold more government paper and treasury bills, underlining the flight to safety triggered by Franklin’s shock decision.“We continue focusing on quality within fixed income,” said Suyash Choudhary, head of fixed income at IDFC Asset Management in Mumbai. “A big part of this is due to drivers like lack of adequate liquidity and price discovery” in lower-rated papers, he said.READ: India Says Central Bank to Boost Support For Shadow LendersFinance Minister Nirmala Sitharaman earlier this month announced a 300 billion rupee ($4 billion) credit line for non-bank firms, and said the government will fully guarantee investment-grade securities issued under this plan. To further help lower-rated financiers, the administration agreed to also provide a partial guarantee to debt rated AA and below, injecting another 450 billion rupees.Reserve Bank of India Governor Shaktikanta Das cut the key policy rate by 40 basis points to 4% in an unscheduled briefing on Friday, with the central bank expecting the economy to contract in the current fiscal year.Yet, IDFC Asset is holding sovereign, quasi-sovereign and top-rated corporate debt, according to Choudhary. Tata Asset Management Ltd. is buying sovereign and top-rated state-run firms’ debt while Quantum Asset Management Ltd. is avoiding credit altogether. The reason: there are fears that the default rate in India may spike after the world’s biggest stay-at-home restriction brought the economy to a standstill.“Given that bank credit is expected to be in low single digit and the downgrades in the corporate sector, lenders will play it safe and invest in government and AAA state-run bonds,” said Murthy Nagarajan, head of fixed-income at Tata Asset.READ: Aditya Birla Mutual Fund Halts New Investments in Two Debt PlansNagarajan, speaking before Friday’s decision, said staying in cash is not profitable as the overnight rates are in the 3% band and because he expects a 100-basis point cut in the coming months in the reverse repo rate and a 50-basis point reduction in the repo rate.Quantum Asset reduced duration on its bond funds even before the government raised its borrowing target by 54% to 12 trillion rupees two weeks ago, according to Pankaj Pathak, fixed income fund manager. “We are avoiding spreads completely,” he said.Edelweiss Asset Management Ltd. said it will stay focused on liquid and AAA bonds, even though it sees value emerging in some non-AAA rated bonds.“We will continue to analyze these credits and risk-reward ratio in light of the lockdown and its impact on businesses and take the call after a quarter or two,” said Dhawal Dalal, chief investment officer for fixed-income at Edelweiss. “We expect investor sentiment to improve as well by this time.”(Updates with RBI’s rate-cut decision in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    (Bloomberg) -- Money managers in India have become so concerned about credit risk that even guarantees from policymakers for lower-rated debt is failing to entice them.Sentiment soured after Franklin Templeton, a big buyer of high-yield Indian notes, shut six debt funds in April. And this week, the market regulator allowed some bond funds to hold more government paper and treasury bills, underlining the flight to safety triggered by Franklin’s shock decision.“We continue focusing on quality within fixed income,” said Suyash Choudhary, head of fixed income at IDFC Asset Management in Mumbai. “A big part of this is due to drivers like lack of adequate liquidity and price discovery” in lower-rated papers, he said.READ: India Says Central Bank to Boost Support For Shadow LendersFinance Minister Nirmala Sitharaman earlier this month announced a 300 billion rupee ($4 billion) credit line for non-bank firms, and said the government will fully guarantee investment-grade securities issued under this plan. To further help lower-rated financiers, the administration agreed to also provide a partial guarantee to debt rated AA and below, injecting another 450 billion rupees.Reserve Bank of India Governor Shaktikanta Das cut the key policy rate by 40 basis points to 4% in an unscheduled briefing on Friday, with the central bank expecting the economy to contract in the current fiscal year.Yet, IDFC Asset is holding sovereign, quasi-sovereign and top-rated corporate debt, according to Choudhary. Tata Asset Management Ltd. is buying sovereign and top-rated state-run firms’ debt while Quantum Asset Management Ltd. is avoiding credit altogether. The reason: there are fears that the default rate in India may spike after the world’s biggest stay-at-home restriction brought the economy to a standstill.“Given that bank credit is expected to be in low single digit and the downgrades in the corporate sector, lenders will play it safe and invest in government and AAA state-run bonds,” said Murthy Nagarajan, head of fixed-income at Tata Asset.READ: Aditya Birla Mutual Fund Halts New Investments in Two Debt PlansNagarajan, speaking before Friday’s decision, said staying in cash is not profitable as the overnight rates are in the 3% band and because he expects a 100-basis point cut in the coming months in the reverse repo rate and a 50-basis point reduction in the repo rate.Quantum Asset reduced duration on its bond funds even before the government raised its borrowing target by 54% to 12 trillion rupees two weeks ago, according to Pankaj Pathak, fixed income fund manager. “We are avoiding spreads completely,” he said.Edelweiss Asset Management Ltd. said it will stay focused on liquid and AAA bonds, even though it sees value emerging in some non-AAA rated bonds.“We will continue to analyze these credits and risk-reward ratio in light of the lockdown and its impact on businesses and take the call after a quarter or two,” said Dhawal Dalal, chief investment officer for fixed-income at Edelweiss. “We expect investor sentiment to improve as well by this time.”(Updates with RBI’s rate-cut decision in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • 12/27   NPC: China begins move to impose controversial Hong Kong security law
    TECHNOLOGY TOPIC NEWS

    Pro-democracy activists fear Beijing pushing through a new law could be "the end of Hong Kong".

    Pro-democracy activists fear Beijing pushing through a new law could be "the end of Hong Kong".


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  • 13/27   Netflix Will Now Automatically Cancel Inactive Accounts
    TECHNOLOGY TOPIC NEWS

    Streaming giant Netflix (NFLX) has now taken the bold step of proactively canceling accounts of inactive subscribers, the company has announced.“You know that sinking feeling when you realize you signed up for something but haven’t used it in ages? At Netflix, the last thing we want is people paying for something they’re not using” explained Eddy Wu, Product Innovation at Netflix.This means that anyone who has not watched anything on Netflix for a year since they joined will be asked to confirm they want to keep their membership. The same will apply to anyone who has stopped watching for more than two years.Members will start seeing these emails or in app notifications this week, says Netflix. If they don’t confirm that they want to keep subscribing, the company will automatically cancel their subscription. “These inactive accounts represent less than half of one percent of our overall member base, only a few hundred thousand, and are already factored into our financial guidance” Wu stated.Anyone who cancels their account and then rejoins within 10 months will still have their account details just as they left them, Wu added.Citigroup analyst Jason Bazinet has just reiterated his hold rating on NFLX, while ramping up his price target from $350 to $450 (3% upside potential).“While the firm has made significant progress in reshaping the video ecosystem and garnering a substantial subscriber base, we continue to believe Netflix faces potential challenges in generating material operating leverage with its cash content spending,” he writes. “Furthermore, at current levels, valuation leaves little room for error, in our view.”Indeed, the stock has rallied 35% year-to-date- boosted by the fact that NFLX’s limited ad exposure means it “doesn’t face the cyclical risk that other media firms are grappling with.”Overall, Netflix scores a cautiously optimistic Moderate Buy consensus, with 23 buy ratings offset by 7 hold ratings and 4 sell ratings. Meanwhile the average analyst price target stands at $466 (7% upside potential). (See Netflix stock analysis on TipRanks)Related News:  Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness  Watch Out Amazon, Facebook is Coming for You  Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion More recent articles from Smarter Analyst:  * Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness   * Increased Focus on Health Will Benefit Herbalife, Says Analyst   * Starbucks Regains Almost Two-Thirds Of U.S. Same-Store Sales As Stores Reopen   * Amazon Launches Food Delivery Services In India - Report

    Streaming giant Netflix (NFLX) has now taken the bold step of proactively canceling accounts of inactive subscribers, the company has announced.“You know that sinking feeling when you realize you signed up for something but haven’t used it in ages? At Netflix, the last thing we want is people paying for something they’re not using” explained Eddy Wu, Product Innovation at Netflix.This means that anyone who has not watched anything on Netflix for a year since they joined will be asked to confirm they want to keep their membership. The same will apply to anyone who has stopped watching for more than two years.Members will start seeing these emails or in app notifications this week, says Netflix. If they don’t confirm that they want to keep subscribing, the company will automatically cancel their subscription. “These inactive accounts represent less than half of one percent of our overall member base, only a few hundred thousand, and are already factored into our financial guidance” Wu stated.Anyone who cancels their account and then rejoins within 10 months will still have their account details just as they left them, Wu added.Citigroup analyst Jason Bazinet has just reiterated his hold rating on NFLX, while ramping up his price target from $350 to $450 (3% upside potential).“While the firm has made significant progress in reshaping the video ecosystem and garnering a substantial subscriber base, we continue to believe Netflix faces potential challenges in generating material operating leverage with its cash content spending,” he writes. “Furthermore, at current levels, valuation leaves little room for error, in our view.”Indeed, the stock has rallied 35% year-to-date- boosted by the fact that NFLX’s limited ad exposure means it “doesn’t face the cyclical risk that other media firms are grappling with.”Overall, Netflix scores a cautiously optimistic Moderate Buy consensus, with 23 buy ratings offset by 7 hold ratings and 4 sell ratings. Meanwhile the average analyst price target stands at $466 (7% upside potential). (See Netflix stock analysis on TipRanks)Related News: Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness Watch Out Amazon, Facebook is Coming for You Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion More recent articles from Smarter Analyst: * Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness * Increased Focus on Health Will Benefit Herbalife, Says Analyst * Starbucks Regains Almost Two-Thirds Of U.S. Same-Store Sales As Stores Reopen * Amazon Launches Food Delivery Services In India - Report


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  • 14/27   Coronavirus: Flexible working will be a new normal after virus
    TECHNOLOGY TOPIC NEWS

    Facebook and New Zealand's prime minister are the latest to support a radical shift in how we all work.

    Facebook and New Zealand's prime minister are the latest to support a radical shift in how we all work.


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  • 15/27   These 4 Measures Indicate That EssoF (EPA:ES) Is Using Debt Extensively
    TECHNOLOGY TOPIC NEWS

    Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

    Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...


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  • 16/27   Coronavirus: Retail sales crash in April as lockdown hits shops
    TECHNOLOGY TOPIC NEWS

    British clothing sales plummeted by 50.2% last month as many High Street stores were closed.

    British clothing sales plummeted by 50.2% last month as many High Street stores were closed.


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  • 17/27   Cyclone Amphan: Survivors return to face destruction left by storm
    TECHNOLOGY TOPIC NEWS

    A massive clean-up operation begins after the storm flattened homes and left cities without power.

    A massive clean-up operation begins after the storm flattened homes and left cities without power.


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  • 18/27   A Look At The Intrinsic Value Of Gofore Oyj (HEL:GOFORE)
    TECHNOLOGY TOPIC NEWS

    In this article we are going to estimate the intrinsic value of Gofore Oyj (HEL:GOFORE) by projecting its future cash...

    In this article we are going to estimate the intrinsic value of Gofore Oyj (HEL:GOFORE) by projecting its future cash...


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  • 19/27   UK borrowing soars to cope with impact of virus
    TECHNOLOGY TOPIC NEWS

    The government borrowed £62.1bn in April - the highest monthly figure since records began.

    The government borrowed £62.1bn in April - the highest monthly figure since records began.


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  • 20/27   If You Like EPS Growth Then Check Out Prevas (STO:PREV B) Before It's Too Late
    TECHNOLOGY TOPIC NEWS

    Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...

    Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...


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  • 21/27   Bonds Rally in India After RBI Announces Emergency Rate Cut
    TECHNOLOGY TOPIC NEWS

    (Bloomberg) -- Sovereign bonds in India rallied after the central bank cut its benchmark policy rate in an emergency session as the economy reeled from the coronavirus outbreak.The yield on the most-traded 2029 bonds fell 12 basis points to 5.91% as of 11:30 a.m. in Mumbai, while that on the new 10-year notes dropped seven basis points. The rupee weakened and stocks reversed gains to halt a three-day rally ahead of a long weekend.The Reserve Bank of India slashed the benchmark repurchase rate by 40 basis points, offering more support for an economy headed for its first full-year contraction in more than four decades. Bond traders have been calling for more support with concern mounting over a surge in government borrowings.Average yields on top-rated rupee-denominated corporate bonds maturing in 10 years fell 15-20 basis points on Friday, according to traders. The decline would be the most since May 8, according to data compiled by Bloomberg.“The RBI cuts may not overwhelm the market and the rally may not last beyond a few days as the market was expecting a 50 basis point cut,” said Naveen Singh, head of fixed-income trading at ICICI Securities Primary Dealership. The market needs to see a bond purchase calender given the huge supply of debt, he said.The rupee fell 0.2% to 75.76 per dollar and the S&P BSE Sensex index slid 0.9%, set for the second straight week of declines. A gauge of lenders declined 2.2% to the lowest level in more than a month.READ: India Cuts Rate to Lowest Since 2000 To Revive Shrinking GDPThe central bank painted a bearish view of the economy, saying it expects Asia’s third-biggest economy to contract in the fiscal year through March 2021 as the impact of the coronavirus and measures taken to contain the pandemic wiped out consumption -- the backbone of the economy. “The RBI’s worries around economic growth are dragging the equities down,” said Sameer Kalra, an investment strategist at Mumbai-based Target Investing. “Rate cuts don’t matter as much as nobody wants take or give loans as confidence is lacking.”Here are other views of stocks and fixed-income analysts:DBS Bank: (Radhika Rao, economist at DBS Bank in Singapore)“Relief for the bond markets front was absent and until a formal announcement is made, we expect intermittent securities’ purchase as part of liquidity operations to continue”Key priorities will be to lower credit risks, channelize funds to credit-starved sectors and prioritize financial sector health, which will also involve the government’s participationHDFC Securities Ltd (Deepak Jasani, head of retail research)“The governor’s comments about the economic situation deteriorating more than expected is weighing on sentiment.“Investors are also concerned about how we are clearly running out of stimulus after both the government and the central bank have done their part“With most of the country still under lockdown these steps may not have a direct benefit. When the lockdown is ultimately lifted there may not be enough ammunition left to cut further.”Serenity Macro Partners: (Manish Wadhawan, founder and former head of rates trading at HSBC India)The carry trade on Indian bonds has turned lucrative after RBI’s rate cut, with repo rate at 4% and 2029 bond yielding nearly 6%With limited fiscal space, RBI will have to do the heavy-liftingEquinomics Research & Advisory: (Chokkalingam G, chief investment officer in Mumbai)“Markets are down because, like the corporates, the central bank is also worried about economic growth due to the spreading virus”“Bond markets are rising as traders are expecting more rate cuts ahead”NOTE: The MPC, which met ahead of its scheduled meeting in early June, kept its ‘accommodative’ stance, implying it could ease further.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    (Bloomberg) -- Sovereign bonds in India rallied after the central bank cut its benchmark policy rate in an emergency session as the economy reeled from the coronavirus outbreak.The yield on the most-traded 2029 bonds fell 12 basis points to 5.91% as of 11:30 a.m. in Mumbai, while that on the new 10-year notes dropped seven basis points. The rupee weakened and stocks reversed gains to halt a three-day rally ahead of a long weekend.The Reserve Bank of India slashed the benchmark repurchase rate by 40 basis points, offering more support for an economy headed for its first full-year contraction in more than four decades. Bond traders have been calling for more support with concern mounting over a surge in government borrowings.Average yields on top-rated rupee-denominated corporate bonds maturing in 10 years fell 15-20 basis points on Friday, according to traders. The decline would be the most since May 8, according to data compiled by Bloomberg.“The RBI cuts may not overwhelm the market and the rally may not last beyond a few days as the market was expecting a 50 basis point cut,” said Naveen Singh, head of fixed-income trading at ICICI Securities Primary Dealership. The market needs to see a bond purchase calender given the huge supply of debt, he said.The rupee fell 0.2% to 75.76 per dollar and the S&P BSE Sensex index slid 0.9%, set for the second straight week of declines. A gauge of lenders declined 2.2% to the lowest level in more than a month.READ: India Cuts Rate to Lowest Since 2000 To Revive Shrinking GDPThe central bank painted a bearish view of the economy, saying it expects Asia’s third-biggest economy to contract in the fiscal year through March 2021 as the impact of the coronavirus and measures taken to contain the pandemic wiped out consumption -- the backbone of the economy. “The RBI’s worries around economic growth are dragging the equities down,” said Sameer Kalra, an investment strategist at Mumbai-based Target Investing. “Rate cuts don’t matter as much as nobody wants take or give loans as confidence is lacking.”Here are other views of stocks and fixed-income analysts:DBS Bank: (Radhika Rao, economist at DBS Bank in Singapore)“Relief for the bond markets front was absent and until a formal announcement is made, we expect intermittent securities’ purchase as part of liquidity operations to continue”Key priorities will be to lower credit risks, channelize funds to credit-starved sectors and prioritize financial sector health, which will also involve the government’s participationHDFC Securities Ltd (Deepak Jasani, head of retail research)“The governor’s comments about the economic situation deteriorating more than expected is weighing on sentiment.“Investors are also concerned about how we are clearly running out of stimulus after both the government and the central bank have done their part“With most of the country still under lockdown these steps may not have a direct benefit. When the lockdown is ultimately lifted there may not be enough ammunition left to cut further.”Serenity Macro Partners: (Manish Wadhawan, founder and former head of rates trading at HSBC India)The carry trade on Indian bonds has turned lucrative after RBI’s rate cut, with repo rate at 4% and 2029 bond yielding nearly 6%With limited fiscal space, RBI will have to do the heavy-liftingEquinomics Research & Advisory: (Chokkalingam G, chief investment officer in Mumbai)“Markets are down because, like the corporates, the central bank is also worried about economic growth due to the spreading virus”“Bond markets are rising as traders are expecting more rate cuts ahead”NOTE: The MPC, which met ahead of its scheduled meeting in early June, kept its ‘accommodative’ stance, implying it could ease further.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • 22/27   Central Banks Step Up; Moves to Reopen Broaden: Virus Update
    TECHNOLOGY TOPIC NEWS

    (Bloomberg) -- The central banks of Japan and India stepped up moves to help their economies, while China’s leadership was forced to abandon a growth target for 2020 because of the uncertainty caused by the coronavirus.The Reserve Bank of India cut interest rates in an unscheduled announcement. The Bank of Japan unveiled a new lending program for companies. China’s leadership, at an annual meeting of the National People’s Congress, pledged to use interest rate cuts among other tools to shore up growth, and detailed plans for special bond issuance.Brazil had another record day of deaths, with 1,188 fatalities, while President Jair Bolsonaro reached a rare moment of consensus with state governors to back a financial aid package. China said it will strengthen international cooperation on research and development for coronavirus remedies and vaccines. Australia’s most-populous state moved to relax limits on cafes and pubs.Key Developments:Virus Tracker: Cases top 5.1 million; deaths around 333,000Nobody’s happy about all the contact-tracing apps out nowChinese billionaire finds retail power with live streamingAsian investors are scouting property for social distancingDrugs and consumer firms are the top stock picks in ChinaSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. See this week’s top stories from QuickTake here.U.K. Sees Record Retail-Sales Drop, Budget Gap (2:15 p.m. Hong Kong)U.K. retail sales dropped by nearly a fifth last month as restrictions to control the coronavirus left most stores shuttered, and Britain’s government posted a record budget deficit. Sales volumes declined 18.1% from March, the most since records began in 1988, the Office for National Statistics said Friday. From a year earlier, sales fell 22.6%. The unprecedented decline shows the hit from the lockdown, but April’s reading may prove the nadir, as a broader swathe of shops reopen.Meantime, the budget deficit stood at 62.1 billion pounds ($76 billion) last month, an amount equal to the total borrowing in the whole of the previous fiscal year. The monthly deficit is the most since modern records began in 1993. Even during the financial crisis, monthly borrowing was never more than 22 billion pounds.Thailand Extends State of Emergency (1:15 p.m. HK)Thailand will extend its nationwide state of emergency for another month through June, according to Taweesilp Witsanuyotin, a spokesman for the Covid-19 center. That will help facilitate the country’s reopening in stages three, which begins June 1, and four, Taweesilp said. Once stage four is completed, the government may consider reopening its borders.India Unexpectedly Cuts Interest Rates (12:26 p.m. Hong Kong)India’s central bank cut interest rates in an unscheduled announcement on Friday, ramping up support for an economy it expects will contract for the first time in more than four decades.The benchmark repurchase rate was lowered by 40 basis points to 4%, Governor Shaktikanta Das said in a live streamed address. The reverse repurchase rate was reduced to 3.35% from 3.75%. The monetary policy committee met ahead of its scheduled meeting in early June, Das said.Australian State Relaxes Curbs on Pubs, Cafes (11:36 a.m. HK)Australia’s most-populous state will allow pubs, clubs, cafes and restaurants to have as many as 50 customers from June 1, as authorities try to breathe life back into the economy.New South Wales Premier Gladys Berejiklian said that strict social distancing guidelines, including ensuring premises allow for 4 square meters per person, would be in force.Coronavirus Reshapes New Zealand’s Politics (10:42 a.m. HK)New Zealand’s main opposition party elected a new leader after a slump in opinion polls spooked its members of parliament four months out from a general election. National Party MPs backed agriculture spokesman Todd Muller to replace Simon Bridges in a caucus vote Friday in Wellington.Muller challenged for the leadership after two polls this week showed support for National plummeting to as low as 29%, from 46% just three months ago.Muller now faces the daunting task of trying to dethrone Prime Minister Jacinda Ardern, whose crisis management during the coronavirus pandemic has seen her popularity soar. Support for Ardern’s Labour Party surged to 59% in a 1News/Colmar Brunton poll published yesterday, 30 percentage points ahead of National. The election will be held on Sept. 19.Bank of Japan Launches Another Loan Program (9:01 a.m. HK)The Bank of Japan launched a new lending program at a meeting on Friday. The meeting, announced earlier this week, occurred between regular policy-setting gatherings as the central bank sought to expand resources availble to small businesses.Worth about 30 trillion yen ($279 billion), the new facility won’t offer direct assistance to businesses like the Federal Reserve’s Main Street Lending Program. Instead, it funnels money to companies via commercial banks and other financial institutions. The program encourages lending to companies by providing free loans to financial institutions and then paying them 0.1% interest on the amount they in turn lend out.Combined with an earlier lending program and its buying of corporate bonds and commercial paper, the BOJ said its coronavirus response measures now total 75 trillion yen.China Abandons Growth Target (8:29 a.m. HK)The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus.“We have not set a specific target for economic growth this year,” the report said. “This is because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the Covid-19 pandemic and the world economic and trade environment.”Premier Li Keqiang said the government is setting a target for urban job creation of over 9 million jobs. That’s lower than the 2019 target of around 11 million, and a target for the urban surveyed unemployment rate of around 6%, higher than 2019’s goal, according to the document.Japan Records Weakest Inflation Reading Since 2016 (7:33 a.m. HK)Japan’s key inflation gauge slid below zero in April for the first time in more than three years, stoking concern over the re-emergence of deflation before an emergency meeting of the central bank to strengthen lending for coronavirus-hit businesses.Consumer prices excluding fresh food fell 0.2% from a year earlier, the ministry of internal affairs reported Friday. Falling energy prices and slowing economic activity amid coronavirus shutdowns contributed heavily to the weakest reading since 2016. Economists expected a 0.1% drop.IBM Joins Tech Giants in Cutting Jobs (7:23 a.m. HK)International Business Machines Corp. cut an unspecified number of jobs across the U.S., eliminating employees in at least five states. The company declined to comment on the total number, but the workforce reductions appear far-reaching.Based on a review of IBM internal communications on the Slack corporate messaging service, the number of affected employees is likely to be in the thousands, said a North Carolina-based worker who lost his job along with his entire team of 12.It’s unclear how many of IBM’s cuts are caused by the pandemic; the company has suffered years of falling revenue. But the tech industry has suffered widespread job losses after the coronavirus pandemic triggered a severe recession. Airbnb Inc. and Uber Technologies Inc. have cut about a quarter of their workforces. Earlier on Thursday, Hewlett Packard Enterprise Co. said it will eliminate some employees to save money, while Dell Technologies Inc. suspended several staff benefits.Australia’s Credit-Rating Outlook Cut (7:04 a.m. HK)Australia’s AAA credit rating outlook was cut to negative by Fitch Ratings Ltd., reflecting the economy’s spiral toward a recession that will result in a severe deterioration of the nation’s fiscal position.“Government spending in response to the health and economic crisis will cause large fiscal deficits and a sharp increase in government debt/GDP,” Fitch said in a statement. “The ‘AAA’ rating reflects the sovereign’s strong institutions and effective macroeconomic policy framework, which has supported a long record of stable economic growth prior to the current exogenous shock.”Abbott Defends Test Accuracy (4:45 p.m. NY)Abbott Laboratories said an ongoing study showed that its ID NOW Covid-19 test had a high rate of accuracy, as the company attempts to counter a claim by outside doctors that the test may return too many false negatives.Partial data from the company-funded study showed that it accurately detected the virus 94.7% of the time, and correctly gave negative results 98.6% of the time, Abbott said in a statement. The study, which is ongoing, analyzed samples from 256 patients and compared the results to a test developed by the U.S. Centers for Disease Control.FDA Says 27 Antibody Tests Barred (4:20 p.m. NY)The US Food and Drug Administration said on Thursday that 27 antibody tests will no longer be distributed in the U.S., part of a previously announced crackdown on the tests.Antibody tests look for markers in the blood that indicate exposure to the novel coronavirus. However, unlike diagnostic tests, they can’t determine whether a patient has an active Covid-19 infection. The FDA’s previous policy allowed hundreds of antibody tests to be sold without its oversight, prompting criticism of the tests’ accuracy.The 27 tests either had “significant problems” identified with them or their manufacturer didn’t seek authorization, according to the FDA. Nine antibody tests were voluntarily withdrawn, including one from BioMedomics, Inc., the FDA said. It also said that there will likely be updates to the list with more tests being barred.In a statement, FDA Commissioner Stephen Hahn called it an important step “taken to ensure that Americans have access to trustworthy tests.”U.S. Cases Rise 1.5% (4 p.m. NY)Coronavirus cases in the U.S. increased 1.5% compared with the same time yesterday, to 1.56 million, according to data collected by Johns Hopkins University and Bloomberg News. That’s higher than Wednesday’s growth rate of 1.3% and in line with the 1.6% average over the past seven days. Deaths rose 1.3% to 93,863.New York cases rose 0.6% to 356,458, in line with the average increase over the past seven days, according to data from the state’s health department.Florida reported 48,675 Covid-19 cases, up 2.5% from a day earlier, the biggest daily increase since at least May 4, when Governor Ron DeSantis started reopening the state. Deaths reached 2,144, an increase of 2.3%.California cases rose 2.5% to 86,197 while deaths increased 3.1% to 3,542, according to the state’s website.Texas cases rose 1.8% to 52,268, below the seven-day average of 2.8%, according to state health department data. Hospitalizations dropped 6.2% to 1,680, with more than 6,000 ventilators available in reserve.UN Pushes to Reopen NYC Headquarters (2:10 p.m. NY)Germany and Russia urged the United Nations to partially reopen its New York City headquarters as the secretary general proposes to scale back the annual General Assembly meeting in September.Germany, which will hold the presidency of the UN Security Council in July, wants to “discuss a possible return to real meetings” while reducing staff on hand and sticking to social-distancing guidelines, Ambassador Christoph Heusgen wrote in a letter to Secretary-General Antonio Guterres seen by Bloomberg News.Guterres has taken a cautious approach to reopening the headquarters tower along the East River.Report Says 4.1% of U.S. Infected (2:06 p.m. NY)A new report from the Imperial College London estimates that 4.1% of the U.S. has been infected by the novel coronavirus, with a wide variation between states. In New York, the world’s epicenter, the researchers estimate that 16.6% of the population has already been infected.The researchers conducted their first state-by-state analysis of the U.S., modeling the number of people infected, the number of those who are currently infectious and the average number of secondary infections caused by individuals with Covid-19. The report warns that certain regions, such as the South and Midwest, may be more susceptible to a resurgence of transmission in coming months.“The epidemic is not under control in much of the U.S.,” say the researchers. “We find no evidence that any state is approaching herd immunity or that its epidemic is close to over.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    (Bloomberg) -- The central banks of Japan and India stepped up moves to help their economies, while China’s leadership was forced to abandon a growth target for 2020 because of the uncertainty caused by the coronavirus.The Reserve Bank of India cut interest rates in an unscheduled announcement. The Bank of Japan unveiled a new lending program for companies. China’s leadership, at an annual meeting of the National People’s Congress, pledged to use interest rate cuts among other tools to shore up growth, and detailed plans for special bond issuance.Brazil had another record day of deaths, with 1,188 fatalities, while President Jair Bolsonaro reached a rare moment of consensus with state governors to back a financial aid package. China said it will strengthen international cooperation on research and development for coronavirus remedies and vaccines. Australia’s most-populous state moved to relax limits on cafes and pubs.Key Developments:Virus Tracker: Cases top 5.1 million; deaths around 333,000Nobody’s happy about all the contact-tracing apps out nowChinese billionaire finds retail power with live streamingAsian investors are scouting property for social distancingDrugs and consumer firms are the top stock picks in ChinaSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. See this week’s top stories from QuickTake here.U.K. Sees Record Retail-Sales Drop, Budget Gap (2:15 p.m. Hong Kong)U.K. retail sales dropped by nearly a fifth last month as restrictions to control the coronavirus left most stores shuttered, and Britain’s government posted a record budget deficit. Sales volumes declined 18.1% from March, the most since records began in 1988, the Office for National Statistics said Friday. From a year earlier, sales fell 22.6%. The unprecedented decline shows the hit from the lockdown, but April’s reading may prove the nadir, as a broader swathe of shops reopen.Meantime, the budget deficit stood at 62.1 billion pounds ($76 billion) last month, an amount equal to the total borrowing in the whole of the previous fiscal year. The monthly deficit is the most since modern records began in 1993. Even during the financial crisis, monthly borrowing was never more than 22 billion pounds.Thailand Extends State of Emergency (1:15 p.m. HK)Thailand will extend its nationwide state of emergency for another month through June, according to Taweesilp Witsanuyotin, a spokesman for the Covid-19 center. That will help facilitate the country’s reopening in stages three, which begins June 1, and four, Taweesilp said. Once stage four is completed, the government may consider reopening its borders.India Unexpectedly Cuts Interest Rates (12:26 p.m. Hong Kong)India’s central bank cut interest rates in an unscheduled announcement on Friday, ramping up support for an economy it expects will contract for the first time in more than four decades.The benchmark repurchase rate was lowered by 40 basis points to 4%, Governor Shaktikanta Das said in a live streamed address. The reverse repurchase rate was reduced to 3.35% from 3.75%. The monetary policy committee met ahead of its scheduled meeting in early June, Das said.Australian State Relaxes Curbs on Pubs, Cafes (11:36 a.m. HK)Australia’s most-populous state will allow pubs, clubs, cafes and restaurants to have as many as 50 customers from June 1, as authorities try to breathe life back into the economy.New South Wales Premier Gladys Berejiklian said that strict social distancing guidelines, including ensuring premises allow for 4 square meters per person, would be in force.Coronavirus Reshapes New Zealand’s Politics (10:42 a.m. HK)New Zealand’s main opposition party elected a new leader after a slump in opinion polls spooked its members of parliament four months out from a general election. National Party MPs backed agriculture spokesman Todd Muller to replace Simon Bridges in a caucus vote Friday in Wellington.Muller challenged for the leadership after two polls this week showed support for National plummeting to as low as 29%, from 46% just three months ago.Muller now faces the daunting task of trying to dethrone Prime Minister Jacinda Ardern, whose crisis management during the coronavirus pandemic has seen her popularity soar. Support for Ardern’s Labour Party surged to 59% in a 1News/Colmar Brunton poll published yesterday, 30 percentage points ahead of National. The election will be held on Sept. 19.Bank of Japan Launches Another Loan Program (9:01 a.m. HK)The Bank of Japan launched a new lending program at a meeting on Friday. The meeting, announced earlier this week, occurred between regular policy-setting gatherings as the central bank sought to expand resources availble to small businesses.Worth about 30 trillion yen ($279 billion), the new facility won’t offer direct assistance to businesses like the Federal Reserve’s Main Street Lending Program. Instead, it funnels money to companies via commercial banks and other financial institutions. The program encourages lending to companies by providing free loans to financial institutions and then paying them 0.1% interest on the amount they in turn lend out.Combined with an earlier lending program and its buying of corporate bonds and commercial paper, the BOJ said its coronavirus response measures now total 75 trillion yen.China Abandons Growth Target (8:29 a.m. HK)The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus.“We have not set a specific target for economic growth this year,” the report said. “This is because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the Covid-19 pandemic and the world economic and trade environment.”Premier Li Keqiang said the government is setting a target for urban job creation of over 9 million jobs. That’s lower than the 2019 target of around 11 million, and a target for the urban surveyed unemployment rate of around 6%, higher than 2019’s goal, according to the document.Japan Records Weakest Inflation Reading Since 2016 (7:33 a.m. HK)Japan’s key inflation gauge slid below zero in April for the first time in more than three years, stoking concern over the re-emergence of deflation before an emergency meeting of the central bank to strengthen lending for coronavirus-hit businesses.Consumer prices excluding fresh food fell 0.2% from a year earlier, the ministry of internal affairs reported Friday. Falling energy prices and slowing economic activity amid coronavirus shutdowns contributed heavily to the weakest reading since 2016. Economists expected a 0.1% drop.IBM Joins Tech Giants in Cutting Jobs (7:23 a.m. HK)International Business Machines Corp. cut an unspecified number of jobs across the U.S., eliminating employees in at least five states. The company declined to comment on the total number, but the workforce reductions appear far-reaching.Based on a review of IBM internal communications on the Slack corporate messaging service, the number of affected employees is likely to be in the thousands, said a North Carolina-based worker who lost his job along with his entire team of 12.It’s unclear how many of IBM’s cuts are caused by the pandemic; the company has suffered years of falling revenue. But the tech industry has suffered widespread job losses after the coronavirus pandemic triggered a severe recession. Airbnb Inc. and Uber Technologies Inc. have cut about a quarter of their workforces. Earlier on Thursday, Hewlett Packard Enterprise Co. said it will eliminate some employees to save money, while Dell Technologies Inc. suspended several staff benefits.Australia’s Credit-Rating Outlook Cut (7:04 a.m. HK)Australia’s AAA credit rating outlook was cut to negative by Fitch Ratings Ltd., reflecting the economy’s spiral toward a recession that will result in a severe deterioration of the nation’s fiscal position.“Government spending in response to the health and economic crisis will cause large fiscal deficits and a sharp increase in government debt/GDP,” Fitch said in a statement. “The ‘AAA’ rating reflects the sovereign’s strong institutions and effective macroeconomic policy framework, which has supported a long record of stable economic growth prior to the current exogenous shock.”Abbott Defends Test Accuracy (4:45 p.m. NY)Abbott Laboratories said an ongoing study showed that its ID NOW Covid-19 test had a high rate of accuracy, as the company attempts to counter a claim by outside doctors that the test may return too many false negatives.Partial data from the company-funded study showed that it accurately detected the virus 94.7% of the time, and correctly gave negative results 98.6% of the time, Abbott said in a statement. The study, which is ongoing, analyzed samples from 256 patients and compared the results to a test developed by the U.S. Centers for Disease Control.FDA Says 27 Antibody Tests Barred (4:20 p.m. NY)The US Food and Drug Administration said on Thursday that 27 antibody tests will no longer be distributed in the U.S., part of a previously announced crackdown on the tests.Antibody tests look for markers in the blood that indicate exposure to the novel coronavirus. However, unlike diagnostic tests, they can’t determine whether a patient has an active Covid-19 infection. The FDA’s previous policy allowed hundreds of antibody tests to be sold without its oversight, prompting criticism of the tests’ accuracy.The 27 tests either had “significant problems” identified with them or their manufacturer didn’t seek authorization, according to the FDA. Nine antibody tests were voluntarily withdrawn, including one from BioMedomics, Inc., the FDA said. It also said that there will likely be updates to the list with more tests being barred.In a statement, FDA Commissioner Stephen Hahn called it an important step “taken to ensure that Americans have access to trustworthy tests.”U.S. Cases Rise 1.5% (4 p.m. NY)Coronavirus cases in the U.S. increased 1.5% compared with the same time yesterday, to 1.56 million, according to data collected by Johns Hopkins University and Bloomberg News. That’s higher than Wednesday’s growth rate of 1.3% and in line with the 1.6% average over the past seven days. Deaths rose 1.3% to 93,863.New York cases rose 0.6% to 356,458, in line with the average increase over the past seven days, according to data from the state’s health department.Florida reported 48,675 Covid-19 cases, up 2.5% from a day earlier, the biggest daily increase since at least May 4, when Governor Ron DeSantis started reopening the state. Deaths reached 2,144, an increase of 2.3%.California cases rose 2.5% to 86,197 while deaths increased 3.1% to 3,542, according to the state’s website.Texas cases rose 1.8% to 52,268, below the seven-day average of 2.8%, according to state health department data. Hospitalizations dropped 6.2% to 1,680, with more than 6,000 ventilators available in reserve.UN Pushes to Reopen NYC Headquarters (2:10 p.m. NY)Germany and Russia urged the United Nations to partially reopen its New York City headquarters as the secretary general proposes to scale back the annual General Assembly meeting in September.Germany, which will hold the presidency of the UN Security Council in July, wants to “discuss a possible return to real meetings” while reducing staff on hand and sticking to social-distancing guidelines, Ambassador Christoph Heusgen wrote in a letter to Secretary-General Antonio Guterres seen by Bloomberg News.Guterres has taken a cautious approach to reopening the headquarters tower along the East River.Report Says 4.1% of U.S. Infected (2:06 p.m. NY)A new report from the Imperial College London estimates that 4.1% of the U.S. has been infected by the novel coronavirus, with a wide variation between states. In New York, the world’s epicenter, the researchers estimate that 16.6% of the population has already been infected.The researchers conducted their first state-by-state analysis of the U.S., modeling the number of people infected, the number of those who are currently infectious and the average number of secondary infections caused by individuals with Covid-19. The report warns that certain regions, such as the South and Midwest, may be more susceptible to a resurgence of transmission in coming months.“The epidemic is not under control in much of the U.S.,” say the researchers. “We find no evidence that any state is approaching herd immunity or that its epidemic is close to over.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • 23/27   KWS SAAT SE & Co. KGaA's (ETR:KWS) Stock Is Going Strong: Is the Market Following Fundamentals?
    TECHNOLOGY TOPIC NEWS

    Most readers would already be aware that KWS SAAT SE KGaA's (ETR:KWS) stock increased significantly by 18% over the...

    Most readers would already be aware that KWS SAAT SE KGaA's (ETR:KWS) stock increased significantly by 18% over the...


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  • 24/27   Japan’s Corporate Profit Tumbles Most Since Financial Crisis
    TECHNOLOGY TOPIC NEWS

    (Bloomberg) -- In what may prove to be one of the most dragged out earnings seasons ever, Japanese companies are reporting their worst drop in operating profits since the financial crisis.Earnings before interest, taxes, depreciation and amortization for Topix index companies fell 26% in January-March, compared with the same quarter last year, according to Bloomberg-compiled data. That’s based on results from just over 85% of the benchmark gauge’s components, as many companies have delayed results amid the impact of the coronavirus.The bottom line also collapsed for Japanese enterprises during the period as the nation’s economy sank into a recession. The 89% drop in earnings per share is among the worst in Asia, and much more severe than the 23% fall for S&P 500 companies, the data show. Social distancing has crimped consumer spending; companies have cut investments and exports have slid. Analysts forecast a 21.5% contraction in GDP in the June quarter, a record for official data going back to 1955.The biggest contributors to Japan’s quarterly earnings and sales declines have been trading companies, metals & mining and auto component makers, according to CLSA Ltd.Wednesday saw reports from the three major non-life insurers, which usually marks the end of the earnings season. Still, heavyweights including Recruit Holdings Co., Hitachi Ltd and Nissan Motor Co. have yet to announce results. And a large number companies have declined to provide outlooks for future results, or withdrawn previously made predictions.Valuations“While signs are emerging of an end to the pandemic, expectations for earnings recovery remain muted, resulting in a rapid increase in P/E,” Mitsubishi UFJ Morgan Stanley Securities Co. strategists including Tsutomu Saito wrote in a note Thursday. “Many remain cautious due to the ongoing downtrend in EPS and companies’ inability to disclose guidance.”The Topix is trading at 14.4 times 12-month forward earnings estimates, the highest level since February 2018. That’s partially because estimates for earnings per share have fallen to 103 yen, the lowest since December 2016.In terms of shareholder returns, share buybacks have been scarce after reaching record levels in Japan the past two years. Many companies have also cut dividends or declined to make projections on payouts for the current period.UnprecedentedThis has been “an earnings season like no other,” with “alarmingly delayed reporting” in addition to the earnings declines, CLSA strategist Nicholas Smith wrote in a May 16 report. Smith noted that late reporting -- with the last announcement not expected until August -- is complicating plans for annual general meetings, with some companies either pushing back the dates or opting to hold two separate meetings.Automobile-related sectors have posted the biggest shortfalls in operating profit versus analyst expectations, while airlines have seen the worst drop in operating margins, he said. On the plus side Japanese companies continue to sit on a large cash pile, which Smith sees as “ammunition for an overseas M&A assault and for a resumption of buybacks once conditions stabilize.”Still Unclear“There is still uncertainty about corporate earnings forecasts and there’s a need for a bit more clarity,” said Yoshihiro Okumura, a general manager at Chibagin Asset Management. “It looks like it will take time, until July and August, when the results for the fiscal first quarter will be out.”Okumura sees further gains in Japanese equity prices as challenging after the Topix recovered roughly half of its losses from the March selloff.(Updates with latest figures, market data)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    (Bloomberg) -- In what may prove to be one of the most dragged out earnings seasons ever, Japanese companies are reporting their worst drop in operating profits since the financial crisis.Earnings before interest, taxes, depreciation and amortization for Topix index companies fell 26% in January-March, compared with the same quarter last year, according to Bloomberg-compiled data. That’s based on results from just over 85% of the benchmark gauge’s components, as many companies have delayed results amid the impact of the coronavirus.The bottom line also collapsed for Japanese enterprises during the period as the nation’s economy sank into a recession. The 89% drop in earnings per share is among the worst in Asia, and much more severe than the 23% fall for S&P 500 companies, the data show. Social distancing has crimped consumer spending; companies have cut investments and exports have slid. Analysts forecast a 21.5% contraction in GDP in the June quarter, a record for official data going back to 1955.The biggest contributors to Japan’s quarterly earnings and sales declines have been trading companies, metals & mining and auto component makers, according to CLSA Ltd.Wednesday saw reports from the three major non-life insurers, which usually marks the end of the earnings season. Still, heavyweights including Recruit Holdings Co., Hitachi Ltd and Nissan Motor Co. have yet to announce results. And a large number companies have declined to provide outlooks for future results, or withdrawn previously made predictions.Valuations“While signs are emerging of an end to the pandemic, expectations for earnings recovery remain muted, resulting in a rapid increase in P/E,” Mitsubishi UFJ Morgan Stanley Securities Co. strategists including Tsutomu Saito wrote in a note Thursday. “Many remain cautious due to the ongoing downtrend in EPS and companies’ inability to disclose guidance.”The Topix is trading at 14.4 times 12-month forward earnings estimates, the highest level since February 2018. That’s partially because estimates for earnings per share have fallen to 103 yen, the lowest since December 2016.In terms of shareholder returns, share buybacks have been scarce after reaching record levels in Japan the past two years. Many companies have also cut dividends or declined to make projections on payouts for the current period.UnprecedentedThis has been “an earnings season like no other,” with “alarmingly delayed reporting” in addition to the earnings declines, CLSA strategist Nicholas Smith wrote in a May 16 report. Smith noted that late reporting -- with the last announcement not expected until August -- is complicating plans for annual general meetings, with some companies either pushing back the dates or opting to hold two separate meetings.Automobile-related sectors have posted the biggest shortfalls in operating profit versus analyst expectations, while airlines have seen the worst drop in operating margins, he said. On the plus side Japanese companies continue to sit on a large cash pile, which Smith sees as “ammunition for an overseas M&A assault and for a resumption of buybacks once conditions stabilize.”Still Unclear“There is still uncertainty about corporate earnings forecasts and there’s a need for a bit more clarity,” said Yoshihiro Okumura, a general manager at Chibagin Asset Management. “It looks like it will take time, until July and August, when the results for the fiscal first quarter will be out.”Okumura sees further gains in Japanese equity prices as challenging after the Topix recovered roughly half of its losses from the March selloff.(Updates with latest figures, market data)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • 25/27   Mutual Fund Giants Unfazed by Warnings on Stocks
    TECHNOLOGY TOPIC NEWS

    (Bloomberg) -- Wall Street heavyweights including Stan Druckenmiller and David Tepper may be sounding the alarm about stocks, but some of the world’s biggest investors are sticking with or boosting their holdings.Money managers and strategists at Capital Group, Franklin Templeton and BlackRock Inc., which together oversee about $8.8 trillion, say equities remain attractive even as the threat of a second wave of coronavirus infections looms at a time when there’s no medical solution.Their reasons? We’re past the first stage of the outbreak, central banks and governments are supporting markets, and shares are appealing compared to other asset classes such as bonds.“I am cheered by the declining growth rates of new infections and mortality,” said Steven Watson, a portfolio manager at Capital Group who helps oversee about $227 billion. “I won’t go as far as to say we’re at the beginning of the end, but I think we can say we’re at least at the end of the beginning.”An index of global equities has recouped more than half its losses in the pandemic, rising about 28% from a low on March 23. As stocks continue to recover despite stark outlooks for economies, legendary investors including Druckenmiller and Tepper have said the risk-reward of holding shares is the worst they’ve encountered in years.Wall Street Heavyweights Are Sounding Alarm About StocksWatson says he’s made few changes to his portfolio, only selling some shares whose “recovery runway” looks long. He says his optimism has one caveat: central banks will need to provide the monetary responses needed to restart growth. He views Asian stocks as likely to have a stronger run in coming months, given the “relatively bright outlook on the Covid-19 front.”“As for the risk of reinfection, yes, further waves of infection will push the markets lower,” he said. “We need to brace ourselves for that, but I wouldn’t let it keep me out of the market.”Franklin Templeton’s multi-asset solutions group, which manages about $123 billion, tentatively increased equities in mid-March, moving back to a neutral position on the asset class just before stocks started to climb.The team is betting global equities will outperform bonds until the end of 2021, according to Wylie Tollette, its head of client investment solutions. That’s because of the low yields provided by most developed market sovereign debt and expected volatility in bond markets, particularly in credit spreads. Like Capital Group, it’s sticking with equities despite the risk of a second wave of infections.‘Cautiously Positive’“Our base case is that we will see several surges in Covid cases until a medical solution is found,” he said. “Looking over the next 12 to 18 months, we are cautiously positive on equities versus bonds from a risk-adjusted return perspective.”Tollette says his team is leaning toward “defensive sectors and regions” as it predicts a slow and uneven economic recovery until a vaccine or effective treatment is found. It’s likely to be Nike Inc. “swoosh” shaped rather than V or U shaped, he said. Like Watson, he notes that Asian countries are further along in addressing the impact of the pandemic.“We do not expect global GDP to fully recover until late 2021 or 2022,” he said. “This would make the Covid crisis longer-lasting -- from a GDP standpoint -- than the global financial crisis but significantly shorter and less severe than a depression.”BlackRock is also sticking with its neutral weighting on equities, favoring buying quality stocks across regions. It points to the trillions of dollars pumped in by central banks and governments to contain the crisis.“We see the unprecedented policy response to cushion the pandemic’s blow as key to support global equity markets -- against a backdrop of historic uncertainty for activity and earnings,” analysts led by BlackRock Investment Institute Global Chief Investment Strategist Mike Pyle wrote in a note. “We still prefer an up-in-quality stance and like economies with ample policy room.”Capital Group’s Watson says he remains hopeful about the outlook for his stock picks, partly because he lived through the SARS epidemic of 2003.“I have little cash today and I like all the companies I hold,” he said. “I find myself more optimistic than some.”(Corrects story published May 20 to fix title in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    (Bloomberg) -- Wall Street heavyweights including Stan Druckenmiller and David Tepper may be sounding the alarm about stocks, but some of the world’s biggest investors are sticking with or boosting their holdings.Money managers and strategists at Capital Group, Franklin Templeton and BlackRock Inc., which together oversee about $8.8 trillion, say equities remain attractive even as the threat of a second wave of coronavirus infections looms at a time when there’s no medical solution.Their reasons? We’re past the first stage of the outbreak, central banks and governments are supporting markets, and shares are appealing compared to other asset classes such as bonds.“I am cheered by the declining growth rates of new infections and mortality,” said Steven Watson, a portfolio manager at Capital Group who helps oversee about $227 billion. “I won’t go as far as to say we’re at the beginning of the end, but I think we can say we’re at least at the end of the beginning.”An index of global equities has recouped more than half its losses in the pandemic, rising about 28% from a low on March 23. As stocks continue to recover despite stark outlooks for economies, legendary investors including Druckenmiller and Tepper have said the risk-reward of holding shares is the worst they’ve encountered in years.Wall Street Heavyweights Are Sounding Alarm About StocksWatson says he’s made few changes to his portfolio, only selling some shares whose “recovery runway” looks long. He says his optimism has one caveat: central banks will need to provide the monetary responses needed to restart growth. He views Asian stocks as likely to have a stronger run in coming months, given the “relatively bright outlook on the Covid-19 front.”“As for the risk of reinfection, yes, further waves of infection will push the markets lower,” he said. “We need to brace ourselves for that, but I wouldn’t let it keep me out of the market.”Franklin Templeton’s multi-asset solutions group, which manages about $123 billion, tentatively increased equities in mid-March, moving back to a neutral position on the asset class just before stocks started to climb.The team is betting global equities will outperform bonds until the end of 2021, according to Wylie Tollette, its head of client investment solutions. That’s because of the low yields provided by most developed market sovereign debt and expected volatility in bond markets, particularly in credit spreads. Like Capital Group, it’s sticking with equities despite the risk of a second wave of infections.‘Cautiously Positive’“Our base case is that we will see several surges in Covid cases until a medical solution is found,” he said. “Looking over the next 12 to 18 months, we are cautiously positive on equities versus bonds from a risk-adjusted return perspective.”Tollette says his team is leaning toward “defensive sectors and regions” as it predicts a slow and uneven economic recovery until a vaccine or effective treatment is found. It’s likely to be Nike Inc. “swoosh” shaped rather than V or U shaped, he said. Like Watson, he notes that Asian countries are further along in addressing the impact of the pandemic.“We do not expect global GDP to fully recover until late 2021 or 2022,” he said. “This would make the Covid crisis longer-lasting -- from a GDP standpoint -- than the global financial crisis but significantly shorter and less severe than a depression.”BlackRock is also sticking with its neutral weighting on equities, favoring buying quality stocks across regions. It points to the trillions of dollars pumped in by central banks and governments to contain the crisis.“We see the unprecedented policy response to cushion the pandemic’s blow as key to support global equity markets -- against a backdrop of historic uncertainty for activity and earnings,” analysts led by BlackRock Investment Institute Global Chief Investment Strategist Mike Pyle wrote in a note. “We still prefer an up-in-quality stance and like economies with ample policy room.”Capital Group’s Watson says he remains hopeful about the outlook for his stock picks, partly because he lived through the SARS epidemic of 2003.“I have little cash today and I like all the companies I hold,” he said. “I find myself more optimistic than some.”(Corrects story published May 20 to fix title in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • 26/27   Amazon launches food delivery service in India to rival Zomato and Swiggy
    TECHNOLOGY TOPIC NEWS

    After many speculations and rumors, Amazon has finally started its food delivery service called Amazon Food in India.  Amazon originally planned to launch the service last year, but it was pushed to this year.  Customers have been telling us for some time that they would like to order prepared meals on Amazon in addition to shopping for all other essentials.

    After many speculations and rumors, Amazon has finally started its food delivery service called Amazon Food in India. Amazon originally planned to launch the service last year, but it was pushed to this year. Customers have been telling us for some time that they would like to order prepared meals on Amazon in addition to shopping for all other essentials.


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  • 27/27   Is Cohort plc (LON:CHRT) Potentially Undervalued?
    TECHNOLOGY TOPIC NEWS

    Cohort plc (LON:CHRT), which is in the aerospace & defense business, and is based in United Kingdom, saw a significant...

    Cohort plc (LON:CHRT), which is in the aerospace & defense business, and is based in United Kingdom, saw a significant...


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