Abbott is allowing businesses to decide fi they keep or drop COVID-19 measures. Here's what these businesses have decided.
Abbott is allowing businesses to decide fi they keep or drop COVID-19 measures. Here's what these businesses have decided.
(Bloomberg) -- Australia is one of the first nations to regain all jobs lost through the pandemic, reflecting a successful early suppression of Covid-19 and a massive fiscal-monetary shot that’s sent the economy roaring back.Employment and hours worked in March were higher than in the same month of 2020, government data showed in Sydney Thursday. Unemployment in Australia fell to 5.6% last month -- exceeding economists’ estimates -- despite the participation rate climbing to a record high 66.3%.The result highlights the profound connection between the health of a nation and its economy as Australia has limited community transmissions of Covid-19 to isolated flare ups. It also suggests the U.S. and U.K., where vaccination programs are in full swing, are set to see a roaring recovery.“It’s is probably time to stop using the word ‘recovery’ when referring to the state of the Australian economy,” said Gareth Aird of Commonwealth Bank of Australia. “The domestic economy is now simply in expansion mode. There is still an output gap, but we expect the level of GDP in Q1 21 to be above its pre‑Covid high given the big lift in employment and hours worked.”Like Australia, South Korea is back at March 2020 employment levels; however, its labor market was already deteriorating prior to that so the comparison isn’t strictly equal. New Zealand has likely returned to pre-Covid employment, but quarterly jobs reports mean the latest data are from the final three months of 2020.It’s unclear whether China, one of the earliest nations to suppress Covid-19 and to recover economically, has been able to meet or exceeded its pre-virus employment levels.Sentiment Down Under is surging as cashed-up households are encouraged to spend and firms consider investing. That’s prompted increased hiring and Australians to resume job-hunting, swelling the labor force and further strengthening the economic outlook.The Reserve Bank of Australia in February doubled its quantitative easing program to A$200 billion ($155 billion) and reiterated that it doesn’t expect to increase interest rates until 2024 at the earliest. Governor Philip Lowe, in a speech last month, said the economy could probably manage unemployment in the low 4s, or potentially even the 3s, before stoking inflation.What Bloomberg Economics Says...“A pre-pandemic trend of surging labor supply has re-emerged. If sustained, policy makers may find that rising supply once again disappoints hopes for a reemergence of long-desired wage growth.”-- James McIntyre, economistAmong other details in today’s jobs report:Monthly hours worked increased by 2.2%Under-employment decreased by 0.6 percentage point to 7.9%, the lowest level in seven years, and under-utilization dropped by 0.8 percentage point to 13.5%Full-time jobs fell by 20,800 and part-time roles soared by 91,500Western Australia’s recovery from a lockdown in the first week of February was reflected in a 2.4% increase in employment, and a 9.2% jump in hours workedWestern Australia, which shut its borders from the rest of the country for an extended period during 2020, recorded an unemployment rate of just 4.8% -- the lowest in Australia. This was despite the participation rate surging to 68.4%, more than 2 percentage points above the national level.Australia’s central bank in February forecast the jobless rate would fall to around 6% by the end of this year and 5.5% at the end of 2022, a level its already closing in on. Under an optimistic scenario for unemployment, the rate would drop to 4.75% by the end of next year. The RBA is due to release updated forecasts next month.The March 28 expiry of the government’s wage-subsidy JobKeeper program, designed to keep workers attached to their employers, could disrupt the labor market’s stellar run. Treasury estimated the program’s conclusion could see up to 150,000 jobs lost.The ABS said today that the labor force data was collected during the first half of March, prior to the end of JobKeeper.Meantime, sentiment reports this week showed an index of business conditions soared to a record high -- with hiring intentions strong -- and consumer confidence jumped to the highest since 2010. That suggests little concern from households and companies about JobKeeper’s end.Sally Sinclair, head of National Employment Services Association that helps the jobless into work, worries that the end of the wage subsidy will compound existing problems.“Underemployed workers often live pay check to pay check and frequently have little, if any, reserves,” she said in an interview with Bloomberg News this week. “These workers, many from hard-hit sectors such as tourism, retail and hospitality were among the 361,000 Australians who rushed to access their superannuation during Covid-19.”The RBA, late last year, cut the key interest rate and three-year yield target to 0.10% to lower borrowing costs across the economy. It also initiated QE to keep a lid on the currency, which has soared nearly 35% from its March 2020 nadir.The government also announced tax cuts, incentives for firms to invest and hire and infrastructure projects to boost activity.(Updates with comment from economist in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Seegene Inc. (KQ 096530), a leading molecular diagnostics firm said its Italian subsidiary, the Arrow Diagnostics Srl, has secured the public procurement worth over EUR 89.3 million, the largest volume of tender in the history of its Italian branch since 2014.
Alligator Bioscience (Nasdaq Stockholm: ATORX) today announced that it has entered into a joint research collaboration with MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The research collaboration will lead to the expansion of Alligator's proprietary patient specific immunotherapy Neo-X-Prime™ by incorporating MacroGenics' proprietary DART® and TRIDENT® multi-specific platforms against two undisclosed targets.
The Board of Directors and the Chief Executive Officer of Alzinova AB (publ) hereby present the Annual Report of the financial year 2020.
The former officer who shot Daunte Wright in Minneapolis faces a charge of second-degree manslaughter.
William and Felicia Mosley found the perfect way for them to make the most of the four-hour drive from their Montgomery, Alabama, home to cheer on their son at Tennessee State. Schools still faced some of the same issues that colleges dealt with during the fall and winter — canceled games, limited practices, sidelined players. The Ohio Valley Conference and Northeast Conference decided to play on Sundays to help schools staff all the sports in this chaotic spring.
Japanese firms with strong Chinese ties are seeing their shares fall ahead of a meeting of Prime Minister Yoshihide Suga and U.S. President Joe Biden, as investors fear pressure to align Japan more closely with Washington's tough stance on Beijing. Shippers, retailers and manufacturers of various machines and components with significant dependence on Chinese demand could bear the brunt of further diplomatic tension in the form of trade restrictions or popular boycotts, analysts said.
Vicore Pharma Holding AB (publ), a pharmaceutical company developing innovative medicines for severe lung disorders such as idiopathic pulmonary fibrosis (IPF), today announced the publication of the Annual Report 2020.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 15 April 2021, Hamilton, Bermuda Reference is made to the announcement by Golden Ocean Group Limited (the "Company”) on 14 April 2021 regarding the approval of a prospectus by the Financial Supervisory Authority of Norway (the "Prospectus") covering (i) the listing on Oslo Børs of 54,207,547 new ordinary shares in the Company (the "Private Placement Shares") issued in a private placement completed on 17 February 2021 raising gross proceeds of USD 338 million (approx. NOK 2,873 million) (the "Private Placement"), and (ii) the offering and listing to eligible shareholders of up to 2,710,377 new ordinary shares in the Company in a subsequent offering (the "Subsequent Offering"). The subscription period in the Subsequent Offering will commence today, 15 April 2021, at 09:00 hours CEST and ends on 26 April 2021 at 16:30 hours CEST (the "Subscription Period"). The Subsequent Offering comprises an offer by the Company to raise an amount of up to NOK 143.6 million in gross proceeds by issuing up to 2,710,377 new shares, each with a nominal value of USD 0.05, at a subscription price of USD 53.00 per Offer Share (the "Offer Shares"). The Offer Shares will only be offered and sold outside the United States in reliance on Regulation S under the U.S. Securities Act. The Subsequent Offering is, subject to applicable securities laws, directed towards eligible holders of beneficial interests for shares in the Company ("Shares") as of the end of 17 February 2021, as registered in the VPS (as defined below) on the 19 February 2021 (the "Record Date") who (i) were not allocated Shares in the Private Placement and (ii) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action ("Eligible Shareholders"). Eligible Shareholders will receive non-transferable subscription rights (the "Subscription Rights") based on their registered shareholding in the Norwegian Central Securities Depository Register ("VPS") as of the Record Date, giving the right to subscribe for and be allocated shares in the Subsequent Offering. Each Eligible Shareholder will, subject to applicable law, be granted 0.04440 Subscription Rights for each share in the Company registered as held by such Eligible Shareholder as of the end of the Record Date, rounded down to the nearest whole Subscription Right. Each Subscription Right will give the right to subscribe for one (1) Offer Share. Oversubscription in the Subsequent Offering by Eligible Shareholders will be permitted. Subscription without Subscription Rights will not be allowed. Eligible Shareholders holding shares through a financial intermediary as of expiry of the Record Date should contact the financial intermediary in order to receive information with respect to the Subsequent Offering. Note that the deadline for doing so might be earlier than 16:30 hours (CEST) on 26 April 2021. The Subscription Rights are expected to have an economic value if the Company's shares trade above the Subscription Price during the Subscription Period. Subscription Rights that are not used to subscribe for Offer Shares before the end of the Subscription Period will have no value and will lapse without compensation to the holder. The payment date for the Offer Shares is on or about 29 April 2021. All Offer Shares will be subject to admission to trading on Oslo Børs under the same ticker code as the Company's other Shares (GOGL) as soon as practically possible after issuance, expected to take place on or about 5 May 2021. The Offer Shares will be freely tradable on NASDAQ after expiry of the 40 day U.S. resale restriction period. Pending publication of the Prospectus, the 54,207,547 Private Placement Shares have been placed on a separate ISIN from the Company's other Shares. Upon publication of the Prospectus and the expiry of the 40 day distribution compliance period under Regulation S of the U.S. Securities Act, the Private Placement Shares will be transferred to the same ISIN as the Company's ordinary shares (BMG396372051) and will be listed and admitted to trading on Oslo Børs and NASDAQ together with the Company's other shares. Thus, the first day of trading of the Private Placement Shares will be on 15 April 2021. The Prospectus will, subject to certain limitations in applicable local securities law, be available today at https://goldenocean.bm/prospectus, https://www.arctic.com/secno/en/offerings and https://www.dnb.no/emisjoner. Hard copies of the Prospectus, including the subscription form, will be available at the Company's Norwegian offices or by contacting Arctic Securities AS and DNB Markets, a part of DNB Bank ASA (the "Managers"). Arctic Securities AS and DNB Markets, a part of DNB Bank ASA, are acting as Managers for the Subsequent Offering. Advokatfirmaet Wiersholm AS is acting as the Company's legal advisor. Seward & Kissel LLP has been acting as the Company's legal counsel as to U.S. law and MJM Limited has been acting as the Company's legal counsel as to Bermuda law. For information about the Subsequent Offering, please contact the Managers:Arctic Securities AS, e-mail: firstname.lastname@example.org, tel: +47 21 01 30 40, web: www.arctic.com/secnoDNB Markets, DNB Bank ASA, e-mail: email@example.com, tel: +47 23 26 80 20, web: www.dnb.no/emisjoner This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
Two-fifths of UK workers in full or part-time employment are given short notice of their work patterns.
Cheney once again laid bare her feelings toward former President Trump, and had a message for her fellow Republicans.
Two top officials of Japan's ruling LDP party on Thursday said radical changes could be coming to the Tokyo Olympics. Toshihiro Nikai, the secretary general of the ruling Liberal Democratic Party, suggested the cancellation just a day after Tokyo reached the 100-days-to-go mark on Wednesday. “If there is a surge in infections because of the Olympics, there will be no meaning to having the Olympics.”
It's been three years since Andrew Weibrecht retired from the U.S. Ski team, but the mountains always beckon. When it happened again this year, Weibrecht moved forward with his own “Do it Yourself, Ski-For-Wishes COVID-19 Edition." “It was unfortunate that our best intentions were derailed due to COVID-19,” said Weibrecht, who won Olympic bronze and silver in super-G in 2010 and 2014.
Declan Rice and Erling Braut Haaland head up today’s football rumour mill.
BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) will publish the company's Interim Report for the period January - March 2021 on Wednesday, April 21, 2021, at 08:00 a.m. CET.
SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today the publication of a groundbreaking article presenting the "epithelial barrier hypothesis" in Nature Reviews Immunology. The article was written by Professor Cezmi Akdis at the Swiss institute of Allergy and Asthma Research (SIAF). Prof. Akdis is the key research collaborator in SciBase's product development for skin barrier assessment. The article presents the background for the steep increase in allergic diseases over the last decades, and how this increase is connected to industrialization and modern lifestyle.
(Bloomberg) -- A gauge of Asian equities was steady Thursday after U.S. indexes eased from all-time peaks as a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings. Oil held gains.Shares fell in Hong Kong and China as the Chinese central bank’s liquidity operations signaled it’s seeking to contain rising leverage. U.S. equity futures edged higher, after Coinbase traded down in its Nasdaq debut overnight and the S&P 500 Index retreated. European contracts dipped.The ruble slid with the Biden administration poised to take action against Russian individuals and entities in retaliation for alleged misconduct including the SolarWinds hack and efforts to disrupt the U.S. election.The dollar paused three days of losses, and the benchmark 10-year Treasury yield held around 1.63%. Asia was also watching for further tremors from the sharp selloff in the bonds of distressed-debt enterprise China Huarong Asset Management Co., which has pushed investment-grade spreads higher.Equities are hovering around record levels and traders are monitoring the earnings season for further catalysts. Expectations for a strong profit rebound have buoyed indexes, setting the bar high as reporting gets underway. More broadly, while combined government spending and central bank stimulus spurs the economic recovery, investors are alert to any setbacks from spikes in Covid-19 infections and troubled vaccine rollouts.“With the upswing in the economy and inflationary pressures, cyclical sectors are going to do particularly well, especially the new cyclicals -- stocks related to infrastructure, electrical grid modernization, clean energy and storage,” said Eli Lee, head of investment strategy at Bank of Singapore. “But bear in mind when you get returns that high, volatility is par for the course.”The Federal Reserve is still a long way from raising interest rates and will start tapering asset purchases “well before” policy makers consider such action, Chairman Jerome Powell told the Economic Club of Washington Wednesday.Bitcoin fell back from its overnight record of $64,870. Oil held an earlier surge as shrinking crude stockpiles in the U.S. supported hopes for a global demand recovery.Some key events to watch this week:U.S. data including initial jobless claims, industrial production and retail sales come Thursday.China economic growth, industrial production and retail sales figures are on Friday.These are some of the main moves in financial markets:StocksS&P 500 futures rose 0.2% as of 7 a.m. in London. The index closed 0.4% lower.Japan’s Topix Index was up 0.3%.The Shanghai Composite slipped 0.7%.The Hang Seng was down 0.8%.South Korea’s Kospi Index rose 0.4%.Australia’s S&P/ASX 200 Index added 0.6%.Euro Stoxx 50 futures were 0.1% lower.CurrenciesThe Bloomberg Dollar Spot Index rose less than 0.1%.The euro was at $1.1975.The Japanese yen was little changed at 108.91 per dollar.The offshore yuan was down 0.1% at 6.5397 per dollar.BondsThe yield on 10-year Treasuries was steady at 1.63%.Australia’s 10-year yield was up two basis points at 1.77%.CommoditiesWest Texas Intermediate crude slipped 0.1% to $63.10 a barrel.Gold added 0.3% to $1,742.38 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The first big PlayStation 5 update adds new features to almost every part of the system.
Max Pacioretty and Tomas Nosek both collected one goal and two assists to pace the visiting Vegas Golden Knights to a 6-2 victory over the Los Angeles Kings on Wednesday. Mark Stone and Alex Tuch netted one goal and one assist apiece in the win, and Chandler Stephenson and Alex Pietrangelo added goals as the Golden Knights won their fourth straight game.
When the pallbearers brought Phil McLean's coffin into the chapel, there were gasps before a wave of laughter rippled through the hundreds of mourners. The donut was the latest creation by Phil's cousin Ross Hall, who runs a business in Auckland, New Zealand, called Dying Art, which custom builds colorful coffins.