Johnson & Johnson promises 2021 profit jump, vaccine data 'soon'
The company had previously signaled that it expected to deliver data on the trial before the end of January, at a time when global hopes of defeating the virus are riding on securing adequate supplies of multiple vaccines.
Reuters
UPDATED ON JAN 26, 2021 05:58 PM IST
Johnson & Johnson on Tuesday forecast 2021 profit above Wall Street estimates and promised data from its widely watched coronavirus vaccine trial soon, as the healthcare conglomerate races to develop a potential single-dose vaccine for COVID-19.
The company had previously signaled that it expected to deliver data on the trial before the end of January, at a time when global hopes of defeating the virus are riding on securing adequate supplies of multiple vaccines.
Johnson & Johnson, which runs a large medical device business in addition to its pharmaceuticals unit, forecast 2021 adjusted profit of between $9.40 and $9.60 per share, compared with analysts' estimates of $8.99 per share, according to IBES data from Refinitiv.
The company's fourth-quarter profit fell 56.7% to $1.74 billion. The company reported that it had recorded litigation expenses of $2.9 billion in the fourth quarter.
J&J faces a litany of lawsuits over its marketing of opioids, its pelvic meshes and body powders.
The company's fourth-quarter sales rose to $22.48 billion from $20.75 billion, helped by higher demand for cancer drugs.
India says OPEC+ decision to extend oil output cuts will hit economic recovery
Reuters, New Delhi
PUBLISHED ON MAR 05, 2021 10:47 PM IST
Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months in reaction to the decision.
Gender inequality has cost world USD 70 trillion since 1990, finds report
PTI, Mumbai
PUBLISHED ON MAR 05, 2021 09:47 PM IST
The report also notes that full gender equality globally can increase the world GDP by up to USD 28 trillion by 2025.
Gold price falls further to ₹44,344, sets retail buyers on buying spree
By hindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 09:07 PM IST
- Retail buyers continued to purchase gold in India as prices declined to a near one-year low.
Sebi lays guidelines on votes cast by mutual funds
Posted by Harshit Sabarwal | PTI
PUBLISHED ON MAR 05, 2021 06:52 PM IST
Mutual funds, including their passive investment schemes like index funds, exchange-traded funds (ETFs), will be required to cast votes compulsorily in respect of related party transactions of the investee companies and corporate governance matters, Sebi said in a circular.
India's forex reserves increase by USD 689 million to USD 584.55 billion: RBI
PTI, Mumbai
PUBLISHED ON MAR 05, 2021 06:14 PM IST
The reserves, which have been steadily increasing over the last few months, had touched an all-time high at USD 590.185 billion for the week ended January 29.
OPEC ignores India's call; Saudi asks New Delhi to use cheap oil bought last yr
PTI, New Delhi
PUBLISHED ON MAR 05, 2021 05:51 PM IST
India had purchased 16.71 million barrels of crude in April-May, 2020 and filled all the three Strategic Petroleum Reserves created at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka.
Tax cut should be joint call of Centre, states: Sitharaman on high fuel prices
PTI, New Delhi
UPDATED ON MAR 05, 2021 09:30 PM IST
Taxes on petrol and diesel make up for about 56 per cent of the record high diesel rates.
Germany to pay nuclear operators 2.4 billion euros for plant closures
Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 05, 2021 04:41 PM IST
The Frankfurter Allgemeine Zeitung daily had reported on Thursday that a sum of 2.4 billion euros will be made available from the general budget, citing government sources.
SoftBank strategy chief Katsunori Sago plans exit after just three Years
Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 05, 2021 04:23 PM IST
The 53-year-old is a key member of founder Masayoshi Son’s inner circle and something of a celebrity in Japan’s world of finance. Prior to joining SoftBank, Sago spent more than two decades at Goldman Sachs Group Inc., rising to become vice chairman of its operations in the country.
Utkarsh Small Finance Bank files for IPO, plans to raise ₹13,500 million
By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 09:14 PM IST
The Utkarsh CoreInvest Limited is the promoter and ICICI Securities, IIFL Securities, Kotak Investment Banking are the book-running managers of the offer.
Microsoft’s $10 billion Pentagon deal at risk amid Amazon fight
Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 05, 2021 03:59 PM IST
The US Defense Department said it will reconsider the controversial procurement if a federal judge declines to dismiss Amazon.com Inc.’s allegations that former President Donald Trump’s meddling cost the company the winner-take-all contract.
Sensex falls 440 pts to end at 50,405; Nifty ends session in red at 14,938 pts
PTI, Mumbai
UPDATED ON MAR 05, 2021 04:13 PM IST
- Sensex falls 440 pts to end at 50,405; Nifty ends session in red at 14,938 points
Amazon's 'Tandav' row puts Bollywood, global streaming giants on edge
Reuters, Mumbai
PUBLISHED ON MAR 05, 2021 02:51 PM IST
- Companies like Amazon's Prime Video and Netflix are inspecting planned shows and scripts, with some even deleting scenes that could be controversial, five Bollywood directors and producers, and two industry sources said.
Asian LNG prices edge higher on Indian, Chinese demand
Reuters
PUBLISHED ON MAR 05, 2021 02:44 PM IST
The average LNG price for April delivery into Northeast Asia was estimated at about $5.70 per million British thermal units (mmBtu), up about 10 cents from the previous week, sources said.
Oil soars to near 14-month high as OPEC+ extends output cuts into April
Reuters
PUBLISHED ON MAR 05, 2021 02:22 PM IST
Brent crude futures for May rose to as high as $68 a barrel on Friday, a level not seen since Jan. 8, 2020. The contract was up $1.09, or 1.6%, to $67.83 a barrel at 0730 GMT, and was on track for a near 3% gain in the week.