The Vatican decreed Monday that the Catholic Church can't bless same-sex unions since God “cannot bless sin.”
The Vatican decreed Monday that the Catholic Church can't bless same-sex unions since God “cannot bless sin.”
One state is scrapping a restriction that has been increasing wait times for commuters.
Samsung Electronics Co., Ltd., a world leader in advanced digital component solutions, today announced PixCell LED, a new automotive LED module optimized for intelligent headlights, such as adaptive driving beam (ADB) systems. ADB headlamps powered by Samsung’s PixCell LEDs will help improve driver visibility and safety to enhance the overall driving experience at night and in poor weather conditions such as fog or heavy rain.
CHINO, Calif., April 14, 2021 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (“Karat Packaging” or the “Company”), a specialty distributor and manufacturer of environmentally-friendly disposable foodservice products and related items, today announced the pricing of its initial public offering of 3,950,000 shares of its common stock at a price to the public of $16.00 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 592,500 shares of common stock, on the same terms and conditions, to cover over-allotments, if any. The common stock is expected to begin trading on the Nasdaq Global Select Market under the symbol “KRT” on April 15, 2021. The offering is expected to close on or about April 19, 2021, subject to the satisfaction of customary closing conditions. Karat Packaging intends to use the net proceeds from the offering for the repayment of approximately $30 million of existing indebtedness, as well as other general corporate purposes, including possible facility expansions and acquisitions. Stifel, William Blair and Truist Securities were lead bookrunning managers for the offering. National Securities Corporation and D.A. Davidson & Co. were co-managers. A registration statement relating to the securities of this offering has been filed with the Securities and Exchange Commission (the “SEC”) on Form S-1 (Reg. No. 333-253270) and was declared effective by the SEC on April 14, 2021. This registration statement SEC can be obtained by visiting EDGAR on the SEC website at www.sec.gov. The offering of these securities is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from: Stifel, Nicolaus & Company, Incorporated, One South Street, 15th Floor, Baltimore, MD 21202, Attention: Syndicate Department, Email: Syndprospectus@stifel.com; William Blair & Company, LLC, 150 North Riverside Plaza, Chicago, IL 60606, Attention: Prospectus Department, Phone: (800) 621-0687, Email: email@example.com; or Truist Securities, Inc., 3333 Peachtree Road NE, 9th floor, Atlanta, Georgia 30326, Attention: Prospectus Department, Email: TruistSecurities.prospectus@Truist.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Karat Packaging Inc. Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of environmentally friendly, disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The Company’s eco-friendly Karat Earth® line offers quality, sustainably focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. Cautionary Note Concerning Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including information about the public offering and the intended use of proceeds from the offering. No assurance can be given that the proceeds will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website at www.sec.gov. Karat Packaging undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Investor Relations and Media Contact: PondelWilkinson Inc. Judy Lin Sfetcu or Roger Pondel 310-279-5980 firstname.lastname@example.org
Asian shares were on the backfoot on Thursday following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase hit tech shares while the dollar index struggled near one-month lows. MSCI's broadest index of Asia-Pacific shares outside Japan paused after two straight days of gains. Japan's Nikkei rose 0.2% while South Korea's KOSPI index was up a tad.
David Cameron has said he intends to respond “positively” to any request to give evidence to any of the inquiries taking place into the Greensill affair. Following the announcement that the Commons Treasury Committee is to hold an inquiry into the firm’s collapse, a spokesman for Mr Cameron said the fromer prime minister was keen to ensure “lessons are learned”. Mr Cameron has insisted he did not break any rules but acknowledged there were “lessons to be learned” and that, as a former PM, any contacts with government should be through the “most formal channels”.
(Bloomberg) -- Australia’s unemployment rate fell further in March -- even as labor force participation surged to a record -- as strengthening sentiment combined with record low interest rates accelerate the economy’s recovery.The jobless rate dropped to 5.6% from 5.8% in February versus economists’ median estimate of 5.7%, data from the statistics bureau showed Thursday in Sydney. Employment soared by 70,700 in March, double the expected 35,000 gain. The participation rate climbed to 66.3%, also exceeding economists forecast of 66.1%, and the highest on data going back to 1978.“Employment and hours worked in March 2021 were both higher than March 2020, up by 0.6% and 1.2%,” Bjorn Jarvis, head of labor statistics at the ABS, said in a statement. “The proportion of women employed was the highest it’s ever been.”The Australian dollar jumped on the released before trading at 77.22 U.S. cents at 11:52 a.m. in Sydney.The economy is booming Down Under with sentiment 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.Among 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% 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 state’s recovery from a lockdown in the first week of February was reflected in a 2.4% increase in employment, and a 9.2% increase in hours workedThe central bank’s February forecasts show the jobless rate falling to around 6% by the end of this year -- a level already bested in February -- and 5.5% at the end of 2022. 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.Yet 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. Under-employment remains very high, she said, meaning that while there are jobs, there aren’t enough hours.“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 further details from report in seventh 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.
Former Wallabies Quade Cooper and Will Genia begin their chase for the big prize in Japan on Sunday when their Kintetsu Liners tackle Munakata Sanix Blues in the first round of the Top League elimination series.As a qualifier from the second-tier challenger tournament, Kintetsu went into the pot for the first knockout round.
The Indian government is facing criticism with the month-long 'Kumbh Mela' festival 'already a superspreader' event.
The Monarch is finalising plans for her husband Prince Philip's funeral, and potentially solving two dilemmas at once.
(Bloomberg) -- The People’s Bank of China refrained from adding more liquidity into the banking system for a fourth month, as policymakers sought to contain rising leverage.The central bank injected 150 billion yuan ($23 billion) into the financial system with its medium-term lending facility. That’s slightly less than the 100 billion yuan due on Thursday and 56.1 billion yuan of targeted loans maturing on April 25.Beijing is providing just about enough cash at a time when banks are expected to help corporate clients pay taxes and sales of government bonds are forecast to accelerate. Policymakers have said they want to stabilize a rapid buildup in leverage, as the nation’s debt as a percentage of gross domestic product jumped to a record high.The operation “is a bit disappointing to the bond market and funding costs will rise,” said Xing Zhaopeng, senior China strategist at Australia & New Zealand Banking Group Ltd. in Shanghai. He expects the PBOC to add cash through seven-day reverse repurchase agreements to plug the liquidity gap as tax payment season starts later this month.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.
(Bloomberg) -- Asian equities were steady Thursday after U.S. stocks eased from all-time peaks as a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings. Oil trimmed earlier gains.Shares dipped in China and Hong Kong, and were in the green in Japan and South Korea. U.S. contracts fluctuated after a slide in technology shares pulled benchmarks off record levels. Coinbase traded down in its Nasdaq debut, and Bitcoin slid from an all-time high. The S&P 500 Index edged down as traders tracked earnings from some of the world’s biggest banks, including revenue windfalls for Goldman Sachs Group Inc. and JPMorgan Chase & Co.The dollar was little changed after three straight days of losses, and the benchmark 10-year Treasury yield held around 1.64%.The People’s Bank of China drained liquidity from the system in Thursday’s operation. Investors are also watching for further tremors from the sharp selloff in the bonds of distressed-debt enterprise China Huarong Asset Management Co., which pushed investment-grade spreads higher.With equities hovering around record levels, traders are watching 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, investors are alert to any setbacks to the economic recovery from spikes in Covid-19 infections and troubled vaccine rollouts.“You’re going to see this tug-of-war continue within markets as investors weigh the prospects of a strengthening economy with the risk of rising inflationary pressures,” said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors.The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday.Bitcoin touched a record of $64,870 before slipping. Oil trimmed an overnight jump but remained close to $63 a barrel 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 were little changed as of 10:47 a.m. in Tokyo. The index closed down 0.4%.Japan’s Topix Index was up 0.5%.The Shanghai Composite slipped 0.8%.The Hang Seng was down 0.7%.South Korea’s Kospi Index rose 0.3%.Australia’s S&P/ASX 200 Index was down 0.2%.CurrenciesThe Bloomberg Dollar Spot Index was steady.The euro was at $1.1973.The Japanese yen was up 0.1% at 108.87 per dollar.The offshore yuan was at 6.5381 per dollar.BondsThe yield on 10-year Treasuries edged up one basis point to 1.64%.Australia’s 10-year yield climbed five basis points to 1.80%.CommoditiesWest Texas Intermediate crude slipped 0.4% to $62.91 a barrel.Gold was steady at $1,736.09 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.
(Bloomberg) -- Oil edged lower in Asia after jumping almost 5% on Wednesday as U.S. stockpiles data added to signs the demand outlook is improving.Futures in New York traded near $63 a barrel after closing higher for a third day, the longest run of gains in more than a month. U.S. crude inventories dropped the most in almost two months last week, while a gauge of gasoline demand ticked higher for a seventh straight week. The bullish data followed upbeat assessments by OPEC and the International Energy Agency.Oil had been stuck near $60 a barrel after a rally faltered in mid-March amid a resurgence in virus cases in some regions. While the IEA sees a temporary lull in the market due to the renewed outbreaks, it followed OPEC in boosting its demand estimates for this year as the economy rebounds from the pandemic.The market will soon have to deal with more supply, however. OPEC+ and U.S. producers are set to start adding extra barrels from May. Another wildcard is Iran, which is seeking to revive a 2015 nuclear deal and have U.S. sanctions removed to lift crude exports, but progress on that remains uncertain.“Consolidation is likely on the cards as crude may have overshot yesterday,” said Vandana Hari, founder of Vanda Insights in Singapore. “The spike appears to reflect a selective view of a multi-speed world. Europe is still in the throes of Covid’s constraints and India is plunging into a deadlier second wave.”The prompt timespread for Brent was 43 cents a barrel in backwardation -- where near-dated contracts are more expensive than later-dated ones. That compares with 49 cents a week earlier.See also: Oil Agencies Bet on Vaccine Win for Second-Half Demand OptimismU.S. crude stockpiles declined by 5.89 million barrels last week, according to Energy Information Administration data. Gasoline inventories increased for a second week, while distillate supplies -- a category that includes diesel -- dropped for the first time since early March.The global recovery from the pandemic is looking uneven, however. The U.S. and China are seeing higher rates of fuel consumption, but India is renewing partial lockdowns amid record virus cases and a shortage of vaccines. South Korea and Japan are also seeing rising infections.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.
Oil prices were lower on Thursday though holding near one-month highs after futures jumped in the previous as the International Energy Agency (IEA) and others upgraded forecasts for oil demand as major economies recover from the pandemic. Brent crude was down by 21 cents, or 0.3%, at $66.37 a barrel by 0129 GMT, after gaining 4.6% on Wednesday and closing at the highest since March 17. U.S. crude inventories were down by 5.9 million barrels last week, the Energy Information Administration (EIA) said on Wednesday, more than double analysts' expectations for a 2.9 million-barrel decline.
A man who stabbed a police dog in the throat while on the run for assault has been jailed over his crime spree.Beau Dean Budak, 25, pleaded guilty to wounding police dog Kaos at a sentencing hearing in the Brisbane District Court on Thursday.
New Zealand Rugby (NZR) has warned that the intensity of the domestic Super Rugby Aotearoa competition is not sustainable after All Blacks midfielder Jack Goodhue was ruled out for the entire 2021 season with a serious knee injury.The last two weeks of the bruising, five-team competition has taken a heavy toll, with Crusaders' Goodhue joining All Blacks captain Sam Cane and loose forward Ardie Savea on the sidelines, while prop Joe Moody is also under an injury cloud.
By the end of 2021, The Federal Reserve sees unemployment falling to just 4.5% and inflation rising to 2.4% -- which could save U.S. households holding debt an average of $1,404. Here's why rising inflation could be a good thing if you have debt but a bad thing if you're in retirement. In just one year, the U.S. has gone from virtually 0% inflation and 15% unemployment to 2.6% inflation and 6% unemployment.
Australia’s unemployment rate has dropped to 5.6 per cent as the country continues to recover from the COVID-19 pandemic.
Leaked letter reveals trust aims to to unilaterally change NHS staff contracts to require vaccinations
NSW children under 14 should not be imprisoned, more Indigenous people should be appointed as judges, and the police watchdog should fully investigate all deaths in custody.Those are some of the suggestions made in a new report aimed at tackling high levels of Indigenous incarceration, tabled in NSW parliament on Thursday morning.
Australia's regional health minister has backed allowing the nation's Olympic team to jump the coronavirus vaccine queue ahead of the Tokyo Games.Morrison government frontbencher Mark Coulton believes most of Australia would be comfortable with allowing athletes to access the jab while some vulnerable people wait.