(Bloomberg) -- U.S. stocks were mixed as more positive vaccine news was offset by signs the deadly virus will hamper economic activity in the shorter term.The S&P 500 Index was little changed after giving up an advance that almost hit 1%. The Nasdaq 100 extended losses into a second day. Earlier gains were driven by news that AstraZeneca Plc became the latest firm to deliver positive vaccine developments. Stocks turned lower as cases continued to surge around the country and New York’s mayor warned the city would be in “dire, dire shape” without additiona federal aid.Trading volume was below the 30-day average at this time of day at the start of the holiday-shortened week. Energy companies topped the leader board after oil moved above $42 a barrel in New York.Data showed U.S. business activity powered ahead in November at the fastest pace since 2015. That helped fuel the rotation into companies that will benefit from a return to normal economic activity, with cruise operators, airlines and retailers posting solid gains.Vaccine successes lately have added to a risk-on mood in markets and investors have snapped up assets that could benefit from the end of lockdowns and travel restrictions. Investors have also started to anticipate Congress will again deliver a spending bill to stave off the economic effects of new restrictions aimed at slowing the virus.“Markets continue to look through the near-term Covid-19 burdens,” said Robert Greil, chief strategist at Merck Finck Privatbankiers. “With political uncertainty in the U.S. fading in addition to the end of the virus tunnel looming, speed bumps for markets become less scary going forward.”U.S. vaccinations against Covid-19 will “hopefully” start in less than three weeks, said Moncef Slaoui, head of the government’s Operation Warp Speed, on CNN’s “State of the Union” on Sunday. An advisory panel of the Food and Drug Administration is meeting on Dec. 10 to discuss emergency use authorizations.Here are some key events coming up:Minutes of the most recent Federal Open Market Committee meeting are due Wednesday.U.S. jobless claims, GDP and personal spending data come Wednesday.U.K. expected on Wednesday to deliver the government’s spending plans for next year.Thursday sees a policy decision and briefing from the Bank of Korea.U.S. celebrates the Thanksgiving holiday on Thursday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.These are the main moves in markets:StocksThe S&P 500 Index climbed 0.1% as of 11:26 a.m. New York time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index increased 0.2%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.3%.The euro dipped 0.4% to $1.1815.The Japanese yen depreciated 0.6% to 104.53 per dollar.BondsThe yield on 10-year Treasuries rose three basis points to 0.86%.Germany’s 10-year yield advanced one basis point to -0.58%.Britain’s 10-year yield advanced two basis points to 0.322%.CommoditiesThe Bloomberg Commodity Index fell 0.2%.West Texas Intermediate crude climbed 1% to $42.85 a barrel.Gold depreciated 2.1% to $1,832.37 an ounce.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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With retail sales rebounding strongly due to continued consumer resilience, the National Retail Federation today forecast that holiday sales during November and December will increase between 3.6 percent and 5.2 percent over 2019 to a total between $755.3 billion and $766.7 billion. The numbers, which exclude automobile dealers, gasoline stations and restaurants, compare with a 4 percent increase to $729.1 billion last year and an average holiday sales increase of 3.5 percent over the past five years.
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The firm develops its multi-asset solution team into a fully-operational Multi-asset Solutions DivisionTokyo, Japan, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Takekai International, a professional asset management firm that offers comprehensive investment management capabilities that span across all main segments of the global capital markets, continually enhancing its existing platforms and value-creation expertise through innovation and refinement of technologies, is pleased to announce that the multi-asset solutions team that was responsible for enhancing the alternative investment strategies of the firm will be officially elevated to the status of Department. Until recently, the multi-asset solutions team was part of the Global Alternative Solutions Department. Takekai International has continually pursued to remain ahead of the highly competitive asset management market in Asia, therefore, the firm has decided to act upon the recent positive spike in client demand for alternative investments and multi-asset strategies and solidify the structure of its trading capabilities. Thus, by assigning additional human and technological resources to the multi-asset solution team it has created a fully-blown top-to-bottom investment division.“Our strategy and approach towards alternative investment vehicles and our increased diversification policy regarding multi-asset solutions has generated a 10 basis points return above industry-average which, subsequently, has driven client demand for these types of financial vehicles up by 25% in the last six quarters. On top of this fantastic development, we have experienced an increase of 15% in our database of clients strictly based on referrals from our satisfied investors”, said Mr. Thomas Christen-Koch, Chief Executive Officer of Takekai International.He continues:” This good news represents a bigger responsibility for us as an organization and the newly created Multi-asset Solutions Division is our commitment to our new and existing clients for continued market performance.”Takekai International’s Multi-asset Solutions Division is currently comprised of a team of 14 members, with five traders and four researchers looking for the best profit-taking solutions within the multi-asset investment environment. The strategies include a combination of different asset classes such as cash, equity or bonds, among others.The Board of Executives is currently reviewing the profiles of two potential candidates and is very close in appointing a Managing Director for the newly created Division.Contact Pavel Hajek - +81-905-5567-185http://takekai-international.com/index.phpAbout Takekai InternationalTakekai International offers comprehensive investment management capabilities that span all segments of the global capital markets. The firm’s investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 40 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. Customers are the reason the firm exists and are at the heart of everything Takekai International does. That is why we seek to provide superior investment results, exceptional service, and multiple layers of risk management. KISS PR NEWS DISCLAIMERThe content creator does not involve us in creation, research, or image selection in any way. Accordingly, we do not accept any responsibility or liability for the content validity, photos, videos, licensing, authentic authority, legality, or reliability of the information contained in this article.KISS PR, its associated companies, website brands, business owners, employees and its distribution partners are not directly or indirectly responsible for any claims made in the above statements. Contact the vendor of the product directly. Neither KISS PR, nor its distribution partners, are responsible for news rankings or SEO of news and its rankings. Ultimately, it is always a final decision of distribution partners and indexing on search engines and distribution sites. Neither KISS PR, nor its distribution partners, have control over content ranking and SEO. KISS PR Story Newswire Press Release
Almere, The Netherlands November 23, 2020, 5:45 p.m. CETASM International N.V. (Euronext Amsterdam: ASM) reports the following transactions, conducted under ASMI's current share buyback program.DateRepurchased sharesAverage priceRepurchased value November 16, 2020--- November 17, 20202,500€ 138.12€ 345,300 November 18, 2020--- November 19, 20208,020€ 138.03€ 1,107,015 November 20, 2020--- Total10,520€ 138.05€ 1,452,315 These repurchases were made as part of the €100 million share buyback program announced on June 2, 2020. Of the total program, 49.8% has been repurchased. For further details including individual transaction information please visit: www.asm.com/investors/share-information/share-buyback.About ASM InternationalASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI's website at www.asm.com.Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics and other risks indicated in the Company's reports and financial statements. The Company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.CONTACTInvestor and media contact: Victor Bareño T: +31 88 100 8500 E: firstname.lastname@example.org
TELESTE OYJ Other information disclosed according to the rules of the Exchange 23.11.2020 at 6.45 pm TELESTE OYJ BOARD HAS DECIDED ON DIVIDEND PAYMENTTeleste Oyj board has decided on dividend of 0.10 euros per share based on the authorization by the Annual General Meeting 2020.The dividend will be paid to shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd on the record date 25 November 2020. The dividend payment date is 3 December 2020.The Annual General Meeting held on 22 April 2020, resolved in accordance with the proposal of the Board of Directors to authorize the Board of Directors to resolve in its discretion on the distribution of a maximum of EUR 0.10 per share as dividend from the retained earnings and/or as repayment of capital from the fund for invested unrestricted equity in one or more instalments. The authorization is valid until the opening of the next Annual General Meeting. TELESTE CORPORATIONBoard of Directors ADDITIONAL INFORMATION: CEO Jukka Rinnevaara, tel. +358 2 2605 611DISTRIBUTION: Main mediawww.teleste.com
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DEVON, Pa., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, today has announced the acceptance and presentation details of two posters at the 2020 virtual annual meeting of the American Epilepsy Society (AES). The AES annual meeting is being held virtually from December 4th through December 8th, 2020. A copy of the posters will be made available on the Zynerba corporate website at the time of presentation at http://zynerba.com/publications/. Title: ZYN002 Cannabidiol Transdermal Gel in Children and Adolescents with Developmental and Epileptic Encephalopathies: An Open‐label Clinical Trial [BELIEVE (ZYN2-CL-25)] Abstract : 913882 Poster : 983 Presentation Date: December 4, 2020Title: Quality of Life and Caregiver Qualitative Assessments in Children with Developmental and Epileptic Encephalopathies Treated with ZYN002 (CBD) Transdermal Gel: BELIEVE (ZYN2-CL-025) Abstract : 913851 Poster : 984 Presentation Date: December 4, 2020About Zynerba Pharmaceuticals, Inc. Zynerba Pharmaceuticals is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. We are committed to improving the lives of patients and their families living with severe, chronic health conditions including Fragile X syndrome, autism spectrum disorder, 22q11.2 deletion syndrome, and a heterogeneous group of rare and ultra-rare epilepsies known as developmental and epileptic encephalopathies. Learn more at www.zynerba.com and follow us on Twitter at @ZynerbaPharma. Cautionary Note on Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. These and other risks are described in the Company’s periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.Zynerba Contact Will Roberts, VP Investor Relations and Corporate Communications 484.581.7489 email@example.comMedia contact Molly Devlin Evoke KYNE 215.928.2199 Molly.Devlin@evokegroup.com
* Clazosentan demonstrates significant reduction of vasospasm-related morbidity and all-cause mortality in patients following aneurysmal subarachnoid hemorrhage (aSAH) * Clazosentan demonstrates significant reduction of all-cause morbidity and mortality in patients following aSAH in a pre-planned pooled analysis of data from both studies. * Idorsia Japan to file New Drug Application (NDA) with the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) in the first half of 2021 * Global Phase 3 study “REACT” investigating the efficacy and safety of clazosentan for the prevention of clinical deterioration due to vasospasm-related delayed cerebral ischemia in adult patients following aSAH continues to actively recruitAllschwil, Switzerland – November 23, 2020 Idorsia Ltd (SIX: IDIA) today announced positive top-line results of the Japanese registration program investigating clazosentan in adult Japanese patients post-aSAH.The program consisted of two double-blind, randomized, placebo-controlled studies assessing the efficacy and safety of clazosentan in reducing vasospasm-related morbidity and all-cause mortality events in adult Japanese patients following aSAH. Patients were randomized to receive continuous infusion of either 10 mg/hr clazosentan or placebo for up to 15 days following the onset of aSAH. The two studies followed the same study design, with one enrolling 221 patients whose aneurysm was secured by surgical clipping and the other enrolling 221 patients whose aneurysm was secured by endovascular coiling.Both studies demonstrated that clazosentan reduced the occurrence of cerebral vasospasm-related morbidity and all-cause mortality within 6 weeks post-aSAH with statistical significance (p<0.01 for both studies). Cerebral vasospasm-related morbidity and all-cause mortality was blindly adjudicated by an independent committee and defined by at least one of the following: All Death / New cerebral infarction due to cerebral vasospasm / Delayed Ischemic Neurologic Deficit (DIND) due to cerebral vasospasm. Clazosentan showed a numerical reduction of all-cause morbidity and mortality in both studies. The effect of clazosentan on this endpoint was significant (p<0.05) in a pre-planned pooled analysis. Further analysis is ongoing including additional pooled analysis of data from both studies.The studies confirmed the well documented safety profile of clazosentan which has now been administered to over 2000 patients around the globe. In these registration studies in Japanese patients post-aSAH there were no unexpected safety findings. Treatment emergent adverse events occurring >5% in the clazosentan group with a difference of >2% compared to placebo were vomiting and signs of hemodilution or fluid retention (i.e. hyponatremia, hypoalbuminemia, anemia, pleural effusion, brain and pulmonary edema).Satoshi Tanaka, Dr Med Sci. and President of Idorsia Pharmaceuticals Japan, commented: “I want to start by thanking the investigators and their highly skilled staff for the excellent conduct of the study. I also thank the Idorsia Japan team, many of whom have worked on clazosentan for many years and never doubted the benefit that it could bring to the patients, I’m very proud of the whole team. Most of all I want to thank the patients who have taken part in this study and their families, they can all be very proud of being part of this very important advancement for Japanese patients whose lives are so impacted by this devastating consequence of aSAH. My team will now rapidly analyze the study in full detail with the objective to file the NDA with the PMDA in the first half of 2021 and make the full results available through scientific publication.”Teiji Tominaga, M.D., Ph.D., Professor & Chairman, Department of Neurosurgery, Tohoku University Graduate School of Medicine commented: “The clinical consequences of the vasospasm that can follow aSAH can be far reaching, ranging from neurological to other physical problems that can be very severe in nature. aSAH is a significant problem in Japan with an incidence around twice as high as in other countries around the world. This makes the medical need particularly high in Japan and the discovery of a new therapeutic option that can help Japanese patients to overcome the consequences of this devastating condition is important. I have worked with the team to develop clazosentan since the first studies, it is very rewarding to see the years of research come to fruition with these great results.”Jean-Paul Clozel MD and Chief Executive Officer of Idorsia commented: “I would like to congratulate the Japanese team, which under the leadership of Dr. Satoshi Tanaka, has driven the development of clazosentan with such enthusiasm, determination, and scientific excellence. The results are highly clinically relevant and bring significant advancement for patients while confirming a safety profile that should not limit the use of the drug. The data are very impressive and give us further reason to intensify our efforts to finish the recruitment into the global REACT study as soon as possible.”Jean-Paul concluded on a personal note: “Martine and I have worked on the role of endothelin and the potential of endothelin receptor antagonism in aSAH for more than 25 years, with the first publication back in 1993. We had a very clear goal; to help patients following aSAH, who are often young adults and whose lives can be devastated by the terrible consequences of cerebral vasospasm. Thanks to the creation of Idorsia, to the confidence of its investors, and determination of the team, we are now on a good track to bring a major breakthrough therapy to these patients. This is immensely rewarding for all of us.”About the global registration program “REACT” In February 2019, Idorsia initiated REACT, a prospective, multicenter, double-blind, randomized, placebo-controlled, parallel-group, Phase 3 study to investigate the efficacy and safety of clazosentan for the prevention of clinical deterioration due to vasospasm-related delayed cerebral ischemia in adult patients following aSAH. The Phase 3 study builds upon the learnings from the previous clazosentan studies to identify patients at high risk of vasospasm and delayed cerebral ischemia, the optimal dose, the best measure to demonstrate efficacy and an optimized patient management guideline to ensure patient safety.Approximately 400 patients – treated either with microsurgical clipping or endovascular coiling – are being enrolled at approximately 95 sites across 15 countries. Patients are randomized to receive continuous infusion of either clazosentan (15 mg/hr) or placebo prophylactically, on top of local standard of care, for a period of up to 14 days. REACT is enrolling aSAH patients identified as being at high risk of developing vasospasm and subsequent delayed cerebral ischemia because of high-volume hemorrhage, as assessed by CT scan on hospital admission. Patients experiencing asymptomatic cerebral vasospasm, as measured by angiography, within 14 days of aSAH may also be included. Completion of the study is targeted for the second half of 2022.Notes to the editorAvailable data in Japanese patients A Phase 2 study in Japanese and Korean patients showed that 10 mg/hr of clazosentan administered by continuous intravenous infusion significantly reduced vasospasm and vasospasm-related morbidity and mortality events. The results are published in Cerebrovascular Diseases (Fujimura M, et al. Cerebrovasc Dis 2017;44:59–67). On that basis, a registration program was initiated with clazosentan in Japan in May 2016.About aneurysmal subarachnoid hemorrhage and cerebral vasospasm Aneurysmal subarachnoid hemorrhage is a rare condition involving sudden life-threatening bleeding occurring in the subarachnoid space. It is caused by the rupture of an aneurysm – a weak, bulging spot on the wall of a cerebral artery. Emergency surgical repair (endovascular coiling or microsurgical clipping) is required to stop the hemorrhage.The bleeding and the release of a vasoconstrictor (endothelin) by the neighboring vascular endothelium can lead to cerebral vasospasm (constriction of arteries in the brain) usually occurring between four and fourteen days after aSAH. This diminishes blood flow to the brain and about one third of patients consequently experience worsening of their neurological condition. Cerebral vasospasm is one of the leading secondary causes of disability and death in those that experience aSAH.The prevalence of aSAH is estimated to be between 6 and 9 per 100,000 worldwide and is a significant problem in Japan with an incidence around twice as high as in many other countries of the world.Available clinical data with clazosentan Previously, clazosentan was investigated for the prevention of angiographic vasospasm in patients with aSAH in a Phase 2 study, CONSCIOUS-1, which demonstrated dose-dependent prevention of vasospasm.This study was followed by two Phase 3 studies, CONSCIOUS-2 and CONSCIOUS-3, to assess the effect of clazosentan on the incidence of cerebral vasospasm-related morbidity and all-cause mortality. The dose of clazosentan (5 mg/h) used in CONSCIOUS-2 did not allow a statistically significant treatment effect to be observed, resulting in the premature termination of CONSCIOUS-3. However, an exploratory analysis of the data collected in CONSCIOUS-3 showed that a higher dose of clazosentan, i.e. 15 mg/h, significantly reduced cerebral vasospasm-related morbidity and all-cause mortality, with a 44% relative risk reduction (p=0.0074).The 15 mg/h dose also significantly reduced the incidence of delayed ischemic neurological deficit with a 54% relative risk reduction (p=0.0038). In addition, clazosentan reduced the need for rescue therapy for vasospasm. Clazosentan did not show any effect of clazosentan on long-term clinical outcome.A Phase 2 study in Japanese and Korean patients showed that 10 mg/hr of clazosentan significantly reduced vasospasm and vasospasm-related morbidity and mortality events.A pilot study evaluating the early effect of clazosentan on reversing established cerebral vasospasm in large proximal cerebral artery segments at three hours post-initiation suggests that clazosentan has the potential to improve large vessel vasospasm upon early administration. In a post-hoc analysis of the effect of clazosentan on reversing established cerebral vasospasm in the entire cerebral vasculature, including smaller distal vessel segments and the cerebellar arteries, a clearly visible improvement in vessel diameter at three and 24 hours could be observed.The above studies have also established an extensive safety profile with over 2,000 patients treated. The side effects of clazosentan are managed based on clear protocol guidelines: hypotension can be mitigated using blood pressure control with vasopressors in the ICU, while lung complications (such as pulmonary edema) can be managed by aiming to maintain euvolemia by avoiding excessive fluid administration.Key literature Fujimura M, et al. Cerebrovasc Dis 2017; 44:59–67 Macdonald R L, et al. Stroke. 2012; 43(6):1463-9. Macdonald R L, et al. The Lancet. Neurology, 2011; 10(7):618-625. Macdonald R L, et al. Stroke 2008; 39:3015-3021. Vajkoczy P, et al. Journal of Neurosurgery 2005; 103:9-17. Roux S. et al. J Pharmacol Exp Ther 1997; 283:1110-1118. Clozel M, Watanabe H, Life Sciences 1993; 52(9):825-834About Idorsia Idorsia Ltd is reaching out for more - We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into one of Europe’s leading biopharmaceutical companies, with a strong scientific core.Headquartered in Switzerland - a biotech-hub of Europe - Idorsia is specialized in the discovery and development of small molecules, to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team, a fully-functional research center, and a strong balance sheet – the ideal constellation to bringing R&D efforts to business success.Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 800 highly qualified specialists dedicated to realizing our ambitious targets.About Idorsia Pharmaceuticals Japan Idorsia Pharmaceuticals Japan was established, under the leadership of Dr Satoshi Tanaka, in 2018 to conduct clinical development and prepare the commercialization of Idorsia's innovative and promising compounds for patients in Japan.For further information, please contact Andrew C. Weiss Senior Vice President, Head of Investor Relations & Corporate Communications Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil +41 (0) 58 844 10 10 www.idorsia.comThe above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.Attachment * Press Release PDF
Quadient – Strong rebound in Q3 2020 driven by improved organic performance across all solutions, and upgraded 2020 outlookImproved organic performance driven by all solutions * Total sales of €258 million in Q3 2020, down 3.0%1 organically vs. Q3 2019, confirming the rebound from the lows in April * Major operations slightly down by 1.8% on an organic basis, a strong improvement vs. Q2 2020 (-12.0%), primarily reflecting: * Double-digit growth in Business Process Automation and Parcel Locker Solutions activities and improved trend for Mail-Related Solutions and Customer Experience Management businesses * Strong performance in North America with positive organic growth (+2.3%), fueled by double-digit revenue increase for each of the growth engines, and a solid increase in International sales (+4.1%) * Robust performance of recurring revenue (-0.8%) and strong improvement in license/hardware sales trend (-4.3%)Strong business and operational execution * Continued dynamic momentum with new customer wins (KUB, Frasers), product launches (new Distribute module for the Impress platform) and industry recognitions (Syntec, PPTI, ISS ESG) * Ongoing active cost management to protect profitability * Strong liquidity position maintained during Q3 2020 Full-year 2020 upgraded outlookThanks to its business portfolio, Quadient is uniquely positioned to continue to benefit from the acceleration of the shift towards digital solutions and e-commerce booming.Taking into account the improved performance recorded in Q3 2020, full-year 2020 expected sales and current EBIT2 are upwardly revised. Q4 2020 sales performance will be especially driven by continuous growth in Business Process Automation and Parcel Locker Solutions activities.Quadient expects for full-year 20203,4: * Organic sales decline of around 9% compared to full-year 2019; * Current EBIT2 in the range of €140 million to €145 million5; * Free cash flow6 above €100 million5.Paris, 23 November 2020,Quadient (Euronext Paris: QDT), a leader in business solutions for meaningful customer connections through digital and physical channels, today announces its third-quarter 2020 consolidated sales.Geoffrey Godet, Chief Executive Officer of Quadient, stated: “We are very pleased with the strong rebound in revenue trend recorded in the third quarter of 2020 in all our solutions and in every geography. As the economy has been recovering from the impact of the lockdowns, Quadient has taken full advantage of its truly unified organization and benefitted from multiple synergies across the board, from commercial cross-selling to back-office efficiencies and from mutualized R&D to more integrated supply chains and logistics.The success of our newly-launched software solutions provides strong evidence of the valuable synergies generated by our combined R&D platform to offer our clients critical multi-channel communications tools supporting small and medium-sized companies in their efforts to digitize their internal processes and larger entities, such as government services, utilities or financial services, in their ability to personalize their communication flows and improve customer experience.The value brought by our software solutions enabled us to record strong double-digit growth in Business Process Automation, including an impressive growth in YayPay, our newly acquired US fintech. In the meantime, our Customer Experience Management software solutions have continued to benefit from new client gains.In our smart hardware businesses, we recorded strong double-digit growth in Parcel Lockers Solutions, demonstrating the relevance of our smart lockers for retailers, carriers and property managers in the context of further e-commerce booming, while our Mail Related Solutions also recorded a much better performance thanks to a substantial rebound in equipment sales and supplies.Against the backdrop of this strong rebound, we are upgrading our guidance for full-year 2020. Our sales performance will continue to be supported by strong growth in both Business Process Automation and Parcel Locker Solutions. We also continue to successfully adapt our operating expenses to best optimize our profitability. We keep on prioritizing our growth investments without giving up on new product launches. And we maintain a very healthy balance sheet as well as a strong liquidity position.”STRONG REBOUND IN Q3 2020 ORGANIC SALES PERFORMANCEIn the third quarter of 2020, consolidated sales amounted to €258 million, a contained decline of -7.4% compared to the third quarter of 2019. Organic change was -3.0% (excluding currency impact and scope effect related to the divestment of ProShip in February 2020 and the acquisition of YayPay at the end of July 20207), a sharp improvement versus Q2 2020 (-14.6%).Quadient’s strategy is to promote recurring revenues in all solutions, particularly through SaaS8 subscription and rental sales. In Q3 2020, the Group has experienced a strong rebound in both recurring revenue (-2.1%) and license/hardware sales (-5.0% vs. -29.0% in Q2 2020).Change in Q3 2020 salesIn million eurosQ3 2020Q3 2019ChangeChange at constant ratesOrganic change Major Operations229242-5.3%-1.7%-1.8% Customer Experience Management3133-8.0%-4.1%-4.1% Business Process Automation1815+19.7%+22.1%+20.0% Parcel Locker Solutions2118+23.5%+28.9%+28.9% Mail-Related Solutions159176-9.8%-6.3%-6.3% Additional Operations2936-21.2%-20.5%-11.8% Group total258278-7.4%-4.2%-3.0% In million eurosQ3 2020Q3 2019ChangeChange at constant ratesOrganic change Major Operations229242-5.3%-1.7%-1.8% North America127132-3.5%+2.5%+2.3% Main European countries(a)9098-8.3%-8.2%-8.2% International(b)1212-1.5%+4.1%+4.1% Additional Operations2936-21.2%-20.5%-11.8% Group total258278-7.4%-4.2%-3.0% 1. Austria, Benelux, France, Germany, Ireland, Italy, Switzerland, United Kingdom. 2. International includes the activities of Parcel Lockers Solutions in Japan and of Customer Experience Management outside of North America and the Main European countries. The breakdown of Q3 2019 revenue by segment and activity has been restated accordingly. Major Operations supported by improved performance in each solutionIn the third quarter of 2020, Major Operations recorded revenue of €229 million (89% of total sales), slightly down by 1.8% on an organic basis compared to the third quarter of 2019, a sharp improvement from Q2 2020 (-12.0%). This reflected a robust performance of recurring revenue (72% of Major Operations sales), down 0.8% organically compared to Q3 2019 (vs. -5.3% in Q2 2020), as well as strongly improved trend for license/hardware sales (-4.3% vs. -27.6% in Q2 2020).Sales in North America (56% of Major Operations sales) posted a strong performance with positive organic growth in Q3 2020 (+2.3%), a sharp improvement versus Q2 2020 (-7.7%), driven by strong double-digit revenue increase for each of the growth engines and improved business trend in Mail-Related Solutions.Main European countries posted much lower organic sales decline in Q3 2020 (-8.2%) compared to Q2 2020 (-18.1%), benefiting from double-digit growth in Business Process Automation revenue. The International segment posted a solid organic sales increase in Q3 2020 (+4.1%), returning to positive growth after a decline in Q2 2020 (-4.2%), driven by a strong increase in rental revenue from Parcel Locker Solutions in Japan.Customer Experience ManagementIn the third quarter of 2020, Customer Experience Management sales stood at €31 million, down 4.1% organically compared to the third quarter of 2019 (vs. -11.0% in Q2 2020). Recurring revenue (74% of Customer Experience Management sales) continued to show a very good resilience (‑1.3%), driven by an ongoing strong growth in revenue from SaaS subscription and increase in maintenance revenue. This performance was offset by a decline in professional services revenue, mainly operated on-site and thus still affected by social distancing measures.License sales (-11.3%) recorded much improved trend versus Q2 2020 (-31.1%), driven by several deals in the United States and the United Kingdom, including in new verticals (Government and Utilities).Sales in North America continued to record strong double-digit growth. Conversely, main European countries posted a decrease in revenue (mainly in professional services), despite strong double-digit growth in the United Kingdom. International sales were lower due to a high comparable base in Q3 2019.Business Process AutomationIn the third quarter of 2020, Business Process Automation sales stood at €18 million, up +20.0% organically compared to the third quarter of 2019, returning to double-digit growth level after a 2.5% decline in Q2 2020.Recurring revenue recorded strong double-digit growth (+34.6%), representing 87% of Business Process Automation sales in Q3 2020, driven by a significant increase in revenue related to volume-based usage, including a positive catch-up effect in the property management sector in France, as well as ongoing strong growth in SaaS revenue, due to an increased customer base recorded in the prior quarters. In addition, the Group continued its campaigns to accelerate new customer acquisitions under this subscription model across all regions. Lastly, sales benefited from the impressive growth of YayPay, the recently acquired US fintech specialized in Accounts Receivable automation, with a triple-digit growth year-on-year.License sales (-31.4%), which represent a relatively small portion of Business Process Automation revenue, were still strongly impacted, even if the traction of bundled offers with Mail-Related Solutions has resumed during the quarter.Parcel Locker Solutions In the third quarter of 2020, Parcel Locker Solutions sales stood at €21 million, up +28.9% organically compared to the third quarter of 2019 (vs. -1.9% in Q2 2020). Recurring revenue, representing 47% of Parcel Locker Solutions sales in Q3 2020, posted a sustained good performance (+19.0%) with a continued double-digit growth in rental-based revenue as well as strong growth in subscription revenue. In addition, recurring revenue benefited from a sustained increase in sales related to maintenance and consumption/usage activity.Hardware sales (+39.2%), which posted a sharp improvement versus Q2 2020 (-27.5%), were fueled by strong dynamics in the US Retail sector due to the rollout of new lockers as part of the contract with Lowe’s. Sales also benefited from Quadient’s first customer gains in the property management sector in the UK, leveraging Parcel Pending’s know-how and product offer.Mail-Related Solutions In the third quarter of 2020, Mail-Related Solutions sales stood at €159 million, down 6.3% organically compared to the third quarter of 2019, experiencing improved business conditions versus Q2 2020 (-13.9%).Recurring revenue (-5.4%), representing 73% of Mail-Related Solutions sales in Q3 2020, benefited from improved trend in consumption-related revenue (supplies) as usage has started to return, and strong resilience of other recurring revenue, which are secured by multi-year contracts.Hardware sales (-8.7%) posted a much improved performance versus Q2 2020 (-25.5%), driven by a continued recovery in new placements from the lows of April, with all three segments (small, medium and large accounts) improving but production mail lagging behind. Business trends improved sequentially across all regions, especially in North America and France/Benelux region. Furthermore, backlog remains high in Q3 2020 compared Q3 2019.Additional OperationsIn the third quarter of 2020, Additional Operations recorded revenue of €29 million (11% of total sales), down 11.8% on an organic basis compared to the third quarter of 2019, a material improvement versus Q2 2020 (-32.5%). This reflected improved revenue from export business (e.g. OEM contracts with third-party distributors for mail equipment). Revenue from the Graphics activity continued to decline. Lastly, the segment benefited from an increase in revenue from Automated Packing Systems (CVP), with 4 units sold Q3 2020 (vs. 5 units in Q3 2019), of which 2 units of higher-end CVP Everest products.9M 2020 SALESChange in 9M 2020 salesIn million euros9M 20209M 2019ChangeChange at constant ratesOrganic change Major Operations666725-8.2%-7.6%-7.6% Customer Experience Management9298-6.2%-5.1%-5.1% Business Process Automation4945+7.7%+8.1%+7.5% Parcel Locker Solutions5346+16.4%+16.9%+16.9% Mail-Related Solutions472536-12.0%-11.4%-11.4% Additional Operations77110-30.1%-28.9%-23.6% Group total743835-11.1%-10.4%-9.6% In million euros9M 20209M 2019ChangeChange at constant ratesOrganic change Major Operations666725-8.2%-7.6%-7.6% North America366382-4.2%-3.1%-3.1% Main European countries(a)263307-14.5%-14.6%-14.6% International(b)3736+2.6%+4.6%+4.6% Additional Operations77110-30.1%-28.9%-23.6% Group total743835-11.1%-10.4%-9.6% 1. Austria, Benelux, France, Germany, Ireland, Italy, Switzerland, United Kingdom. 2. International includes the activities of Parcel Lockers Solutions in Japan and of Customer Experience Management outside of North America and the Main European countries. The breakdown of 9M 2019 revenue by segment and activity has been restated accordingly. In 9M 2020, consolidated sales stood at €743 million, down 9.6% organically9 compared to 9M 2019 (excluding currency impact and scope effect related to the divestment of ProShip in February 2020 and the acquisition of YayPay in July 202010).After an organic sales decline of 12.8% recorded in the first half of the year, Quadient benefited from improved business trend during the third quarter (-3.0%), driven by its growth engines, particularly in North America, and a sequential recovery of Mail Related Solutions activity since the lows of April.Major Operations sales stood at €666 million in 9M 2020, down 7.6% organically compared to 9M 2019, supported by the resilience of recurring revenue (-3.3%).Customer Experience Management sales stood at €92 million in 9M 2020, down 5.1% organically compared to the 9M 2019. Recurring revenue (-2.1%) benefited from ongoing strong growth in revenue from SaaS subscriptions and higher maintenance revenue, offset by the impact of social distancing measures on professional services. License sales (-13.3%) reflected a stronger upsell activity with existing account and a slower acquisition of new customers in the social distancing context.Business Process Automation sales amounted to €49 million in 9M 2020, up 7.5% organically compared to 9M 2019. As for Customer Experience Management, the activity continued to experience a sustained demand for digital solutions under SaaS model, positively impacting recurring revenue (+20.4%). In addition, recurring revenue also benefited from the impressive growth of Yaypay, which delivered triple-digit revenue growth compared to the third quarter of 2019. License sales (-39.6%) were affected by the lower traction of bundled offers with Mail-Related Solutions as social distancing measures made more difficult the placement of new hardware equipment during the period.Parcel Locker Solutions sales stood at €53 million in 9M 2020, up 16.9% organically compared to 9M 2019. Recurring revenue (+29.0%) benefited from strong double-digit growth in rental-based revenue in Japan as a result of an increased installed base, sustained subscription sales in the Property Management sector in the US, as well as higher revenue related to maintenance and consumption/usage activity. The increase in hardware sales (+3.9%) reflected strong dynamics in the US Retail sector in the third quarter, driven by the contract with Lowe’s, partially offset by lower sales from the property management and corporate/university sectors due to delays in installations and new building projects as a result of the social distancing measures and the economic context.Mail-Related Solutions sales amounted to €472 million in 9M 2020, down 11.4% organically compared to 9M 2019. Recurring revenue (-7.7%) proved resilient in the period, most of revenue being secured by multi-year contracts, except for consumables (ink cartridges), which were impacted by lower usage particularly during the lockdowns. The decline in hardware sales (-21.3%) reflected the impact of social distancing measures on new placements, especially for large deals, although this decline was less marked in North America. Since the lows of April, Mail-Related Solutions revenue have been experiencing a progressive recovery, driven in particular by hardware sales and supplies.Additional Operations sales stood at €77 million in 9M 2020, down 23.6% organically compared to 9M 2019.FULL-YEAR 2020 UPGRADED OUTLOOKThanks to its business portfolio, Quadient is uniquely positioned to continue to benefit from the acceleration of the shift towards digital solutions and e-commerce booming.Taking into account the improved performance recorded in Q3 2020, full-year 2020 expected sales and current EBIT11 are upwardly revised. Q4 2020 sales performance will be especially driven by continuous growth in Business Process Automation and Parcel Locker Solutions activities.Quadient expects for full-year 202012,13: * Organic sales decline of around 9% compared to full-year 2019 (vs. around 10% previously stated); * Current EBIT11 in the range of €140 million to €145 million14 (vs. €135-145 million previously stated); * Free cash flow15 above €100 million14 (unchanged). Q3 2020 BUSINESS HIGHLIGHTSRepayment of all borrowings contracted under US private placements, for a total of USD 115 millionOn 4 September 2020, Quadient proceeded to the repayment of all borrowings contracted under US private placements, for a total amount of 115 million US dollar. On top of the mandatory repayment of 30 million US dollar scheduled for September 2020, Quadient decided the early repayment of 85 million US dollar of debt, maturing in 2021 (35 million US dollar) and 2022 (50 million US dollar). This operation is in the straight continuation of the Group’s policy aiming at managing its balance sheet in a dynamic way and at optimizing its financing resources. The impact on the Group’s cost of net debt will be slightly positive over the remaining term of the early-repaid borrowings.Major contract in the US retail sector with Lowe’sIn September 2020, Quadient announced it signed with Lowe’s, an US-based retail chain specializing in home improvement, a major contract for the deployment of Parcel Lockers Solutions in the US retail sector. The nationwide rollout of more than 1,700 self-service parcel lockers is planned. Lowe’s ranks amongst the top 10 US retailers with more than 2,200 stores.Quadient's innovation recognized by 2020 Parcel and Postal Technology International AwardsOn 15 October 2020, Quadient announced that CVP Everest automated packaging system has been selected as the “Sorting and Fulfillment Technology of the Year” by the 2020 Parcel and Postal Technology International (PPTI) Awards.Quadient achieves 12th position in the overall ranking published by Syntec Numérique, EY and Tech’In FranceOn 20 October 2020, Quadient announced that it has placed third in the annual ranking of French software publishers and developers in the Horizontal French Publishers’ Category, according to the Top 250 Panorama published by software industry associations Syntec Numérique and Tech’In France and consultancy firm EY. Quadient achieved the 12th position in the overall ranking. The Top 250 Panorama lists French software publishers and developers according to their sales in software publishing.Quadient expands Impress platform with new cloud-based document delivery solution, Quadient® Impress DistributeOn 26 October 2020, Quadient announced the launch of Quadient® Impress Distribute, a new cloud-based document delivery solution removing the distraction and laborious task of preparing and sending outbound communications. Impress Distribute allows users to send mail from their desktops –on-site or remotely– and enables employees to focus instead on higher-value, core tasks, optimizing the flow of business. Quadient Impress Distribute is now available in the US, UK and the Netherlands. The scalability and reliability of Quadient Impress platform is a result of the same centralized research and development software team who created the award-winning Quadient Inspire platform within Customer Experience Management.Quadient obtains ISS ESG’s “Prime” recognition for its commitment to Corporate Social ResponsibilityOn 29 October 2020, Quadient announced that it has once again achieved Prime status by ISS ESG in recognition of its activities related to various environmental, social and corporate governance indicators. This status is given to companies with an ESG performance above the sector-specific prime threshold. Quadient’s 2020 results reflect its commitment and continuous efforts to Corporate Social Responsibility (CSR).POST-CLOSING EVENTSKnoxville Utilities Board Improves Customer Experience by Using Quadient Inspire to Redesign Monthly BillOn 3 November 2020, Quadient announced that the Knoxville Utilities Board (KUB) is using Quadient® Inspire for a complete redesign of its monthly utility bill to make it clearer and easier to understand for an improved customer experience. KUB is the largest provider of gas, electric, water and wastewater services for Knox County, Tennessee and seven adjacent counties. Although the organization operates in a non-competitive environment, KUB has a strong commitment and tradition of serving its 468,000 customers in the most efficient and effective ways possible.Frasers Group invests in Quadient’s high-speed automated packaging technologyOn 19 November 2020, Quadient announced that that it is to supply retail giant, Frasers Group, with its latest CVP Everest fit-to-size automated packaging system – capable of tailor-making 1,100 right-size ecommerce packages per hour. Frasers Group will use Quadient’s most advanced automated packaging system to build exact-sized packages for individual ecommerce orders, single or multiple items, across its premium brands.CONFERENCE CALL & WEBCAST Quadient will host a conference call and webcast on 23 November 2020 at 6:00 pm Paris time (5:00pm London time). The meeting will be held in English.To join the webcast, click on the following link: Webcast.To join the conference call, please use one of the following phone number:▪ France: +33 (0) 1 7037 7166;▪ United States: +1 212 999 6659;▪ United Kingdom: +44 (0) 20 3003 2666;▪ Switzerland: +41 (0) 43 456 9986.Password: Quadient.A replay of the audio webcast will be available for a period of one year. CALENDAR * 1 December 2020: Education session on the Business Process Automation activity (https://invest.quadient.com/en-US/education-sessions); * 5 January 2021: Education session on the Parcel Locker Solutions activity (event details will be communicated later); * 30 March 2021: Full-year 2020 results and Capital Markets Day.***About Quadient® Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on four key solution areas including Customer Experience Management, Business Process Automation, Mail-Related Solutions, and Parcel Locker Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid & Small and EnterNext® Tech 40 indices.For more information about Quadient, visit https://invest.quadient.com/en-US.ContactsLaurent Sfaxi +33 (0)1 45 36 61 39 firstname.lastname@example.org email@example.comOPRG Financial Isabelle Laurent / Fabrice Baron +33 (0)1 53 32 61 51 /+33 (0)1 53 32 61 27 firstname.lastname@example.org email@example.com Caroline Baude +33 (0)1 45 36 31 82 firstname.lastname@example.org APPENDICESGlossary * Major solutions: The four major solutions in which Quadient has already acquired strong legitimacy and which have the potential to reach a significant size and have significant growth potential. The Solutions are: Customer Experience Management, Business Process Automation, Parcel Lockers Solutions and Mail-related Solutions. These Solutions are sold by both Major Operations and Additional Operations. * Customer Experience Management: Solutions enabling companies to create, manage and provide omnichannel and personalized solutions on demand and in high volumes; * Business Process Automation: Range of business process automation solutions, especially in the field of invoicing flows (hybrid mail, accounts receivable, accounts payable); * Parcel Locker Solutions: Automated parcel lockers system to solve “last-mile” delivery issues in high density urban areas; * Mail-Related Solutions: Solutions linked to mail management, mainly franking machines, folders/inserters and mailroom shipping software. * Major Operations: The four major solutions in the two main geographies, i.e. North America and the main European countries, as well as the activities of Parcel Locker Solutions in Japan and of Customer Experience Management in the International segment. * Additional Operations: Mail-Related Solutions, Business Process Automation and Parcel Locker Solutions (excluding Japan) outside Major Operations, and the Group’s Other Solutions including graphics, shipping software and the CVP automated packing system. * Other Solutions: Graphics, shipping software and the CVP automated packing system. * Other Geographies: All countries outside the two main geographies, i.e. North America and the main European countries.* * * 1 Q3 2020 sales are compared to Q3 2019 sales, from which is deducted revenue from ProShip for an amount of €3.6 million and to which is added revenue from YayPay for an amount of €0.3 million. They are also restated of a €9.1 million negative currency impact over the period. 2 Current operating income before acquisition-related expenses. 3 Excluding new drastic unfavorable development related to the COVID-19 health crisis and unforeseen worsening economic environment in the last quarter. 4 The indications given up to 2022 as part of the “Back to Growth” plan remain suspended. 5 Based on H1 2020 average exchange rates. 6 Cash flow after capital expenditure. 7 YayPay has been consolidated since 31 July 2020 8 SaaS = Software as a Service 9 9M 2020 sales are compared to 9M 2019 sales, from which is deducted revenue from ProShip for an amount of €7.8 million and to which is added revenue from YayPay for an amount of €0.3 million. They are also restated of a € 6.0 million negative currency impact over the period. 10 YayPay has been consolidated since 31 July 2020. 11 Current operating income before acquisition-related expenses. 12 Excluding new drastic unfavorable development related to the COVID-19 health crisis and unforeseen worsening economic environment in the last quarter 13 The indications given up to 2022 as part of the “Back to Growth” plan remain suspended. 14 Based on H1 2020 average exchange rates. 15 Cash flow after capital expenditure. Attachment * PDF
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Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
England made it two wins from two with a comfortable win over Ireland in the Autumn Nations Cup in a game which Eddie Jones had billed as his sides most important of 2020. Joining Brian in studio to reflect on wins for both England's men and women is Harlequins captain Rachael Burford. Johnny May stole the headlines at Twickenham with a sensational try but it could have been avoided if Ireland were more accurate in the lineout. Former skipper Paul O'Connell joins the show to dissect what's gone wrong with the Irish set piece and expresses concern over the developing gap between the two sides since Ireland's Grand Slam win at Twickenham in 2018. Elsewhere Wales finally stopped a run of defeats by beating Georgia 18-0. Wayne Pivac made 13 changes to his team and we speak with former Osprey's head coach Sean Holley about whether any of the new faces will feature this weekend against England and if anyone in Wales is giving them a chance against their great rivals. England's women secured a 2-0 series win over France just days after being drawn in the same pool for the 2021 World Cup, we get Rachael's take on England's chances in New Zealand next year and also some of the stigma female rugby players face on social media. And in a week where rugby was given £135 million by the government as part of a Covid bailout we speak to Steve Grainger, rugby development director at the RFU, about how the money will help the sport and how his role has changed in 2020 as a result of the pandemic. Subscribe to Brian Moore's Full Contact podcast here, and for more details about the Mitsubishi Motors Volunteer Recognition Programme with England Rugby click here.
NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $10.4 million bridge loan to refinance a 120-bed skilled nursing facility in Boonville, New York. The transaction was originated by Fred Levine, Managing Director on behalf of Sunset PropCo LLC and Sunset Operating LLC. The $10,370,000 non-recourse bridge loan enables the owner to refinance existing recourse senior debt and continue to stabilize the SNF asset until it is ready for permanent financing with low, fixed rate financing though FHA’s 232(f) program.Sunset Nursing and Rehabilitation Center is a one-story brick facility built over three phases, in 1964, 1971, and 1985, which was renovated in 2008. The facility features 54 semi-private units and 12 private units with a total of 120 beds. Located in Boonville, 20 miles north of Rome, NY, Sunset Nursing and Rehabilitation Center is growing its occupancy and is the only nursing home in a 15-mile radius.“It takes a very deep understanding of the skilled nursing industry to continue to lend in the era of the pandemic,” said Mr. Levine. “Greystone’s bridge lending group is stepping up its efforts to provide financing solutions to our borrowers so they can continue to focus on resident care.”About Greystone Greystone is a national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.PRESS CONTACT: Karen Marotta Greystone 212-896-9149 Karen.Marotta@greyco.com
FOX Nation, FOX News Media’s on demand subscription-based streaming service, will debut its first holiday-themed original scripted production entitled "Christmas in the Rockies." Available on the platform beginning Thursday, November 26th, the film will feature cameos from FOX & Friends’ co-hosts Steve Doocy and Ainsley Earhardt.
Gatik, the autonomous vehicle startup focused on the "middle mile," is already using its self-driving box trucks to deliver customer online grocery orders for Walmart. Now, the company — freshly stocked with $25 million in Series A funding — is expanding up into Canada with a partnership with retail giant Loblaw. Gatik said Monday that five autonomous box trucks in Toronto will be used to deliver goods for Loblaw starting in January 2021.
The world's top asset manager BlackRock has upgraded U.S. equities to "overweight", turning bullish on quality large cap technology companies as well as small cap firms that tend to perform well during a cyclical upswing. In a note received on Monday, BlackRock said it had also downgraded European equities to "underweight", just three weeks after cutting allocations to "neutral".