The global Natural Cosmetics Market is projected to grow with a CAGR of 5.01% over the forecast years to reach USD 48.04 billion by 2025, as per a new report released by Million Insights. The demand for natural cosmetics is gaining traction among millennials. This demand is driven by an increase in awareness about the adverse effect of synthetic cosmetics is driving market growth. Moreover, increasing research & development expenditure is expected to fuel the growth further.
The European Union's top diplomat has called for the bloc to have a more robust strategy toward China amid signs that Asia is replacing the United States as the center of global power. EU foreign affairs chief Josep Borrell told a gathering of German ambassadors on Monday that analysts have long talked about the end of an American-led system and the arrival of an Asian century. Borrell said the pandemic could be seen as a turning point in the power shift from West to East, and that for the EU the pressure to choose sides is growing."
Canadian oil and gas producer Vermilion Energy Inc (VET) has announced thatAnthony Marinohas resigned as President and Chief Executive Officer and as a director of the company, effective immediately.Shares in Vermilion have plunged 69% since the beginning of the year.During his eight years at VET, Marino made various improvements to the cost structure and associated capital efficiencies, the company stated.Instead of filling the role of chief executive, Vermilion has now re-established an Executive Committee made up of five senior executives from within the company.VET also announced that co-founder Lorenzo Donadeowill now take on the role of Executive Chairman, while Curtis Hicksis rejoining the company and has been appointed President.Hicks was Executive Vice-President and Chief Financial Officer of Vermilion from 2003 to 2018.In these challenging times, Vermilion will redouble its focus on its core business principles that have served it well over its successful 26-year history. These principles are based on a conservative, long-term focus on balance sheet strength and capital discipline to generate strong returns commentedLorenzo Donadeo, noting that Vermilion has provided shareholders with $40.20 per share of dividends over the last 17 years.Analysts are staying sidelined on VETs prospects right now, with 11 recent hold ratings vs just 1 buy rating. Most worryingly, the average analystprice targetsuggests that shares will remain at these depressed levels for the coming months.(See Vermilion stock analysis on TipRanks)We credit Vermilion with having pulled some big levers of late cutting its dividend twice in March, then suspending it altogether in April in response to the collapse in oil prices. Along with reduced capital, these measures should reinforce the companys sustainability as 2020 unfolds comments RBC Capital analystGreg Pardy.Despite appreciating Vermilions good start in rough conditions, Pardy maintains a hold rating and a one-year price target of $6 per share.Related News: Positive Exploration Results Could Drive Upside for Yamana Gold, Says Analyst AngloGold Halts Production At Worlds Deepest Gold Mine, Due To Covid-19 Outbreak Tesla Asks China To Build Model 3 Cars With LFP Batteries Report More recent articles from Smarter Analyst: * American Airlines and Others Given Go-Ahead to Reduce Route Coverage * Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises * NYSE to Reopen Its Trading Floor on Tuesday * Agilent Up 5% On Solid Revenue Beat, But Top Analysts Stay Cautious
Bayer said on Monday it had made progress seeking a settlement over claims its glyphosate-based Roundup weedkiller causes cancer, after Bloomberg reported the company reached a verbal agreement on about 50,000 to 85,000 cases. In April, Bayer's management regained shareholder support for its handling of the litigation process. Bloomberg cited people familiar with the negotiations as saying that the deals have yet to be signed and Bayer is likely to announce the settlements in June.
The Transportation Department informed 15 airlines late Friday that it will allow them to cancel flight service to about 60 cities where there is little demand for flights. However, no city will be left without service altogether.The destinations are mostly in secondary markets that could be served by other nearby airports.American Airlines (AAL), for example, will be permitted to stop flying to Aspen and Vail, Colorado, as well as Worcester, Massachusetts.The Transportation Department stated that it reserved the right to reverse any decision, however, if it were to result in inadequate capacity or connectivity to a destination.As part of the CARES Act, the federal stimulus package passed in March, any airline that receives federal assistance is required to maintain a minimum number of flights to locations that it had served before the pandemic. Thus, Friday's announcement comes as a welcome relief to struggling airlines.The outbreak of Covid-19 has wreaked devastation on the aviation industry. Passenger flight demand currently is just 5% of what it was at this time last year, though flight data shows demand trickling upwards of late.Of the $50 billion in financial assistance for airlines, American Airlines received about $12 billion. At the time, American Airlines CEO Doug Parker put out a video for investors in which he said, "I am confident that those funds, along with our relatively high available cash position, will allow us to ride through even the worst of potential future scenarios.Analyst sentiment on American, however, has been grim. J.P. Morgan analyst Jamie Baker recently wrote: In our opinion, the margin for error for American management to navigate this crisis outside of the courts is growing uncomfortably thin (and dependent on factors outside of management control, i.e. duration of the virus, traffic recovery cadence, further government support)..."After spending most of 2019 in the low $30's, American stock is now priced below $10, closing on Friday at $9.70. American has a Hold consensus, with 4 Buys, 5 Holds, and 8 Sell recommendations, and a 12-month price target of $13.92. Yet given American Airlines' steep fall, that still represents $44% potential upside. (See American Airlines stock analysis on TipRanks).Related News: Ryanair Cuts Traffic Target By Almost 50% For Coming Year, Seeks To Reduce Boeing Plane Deliveries Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes More recent articles from Smarter Analyst: * Vermilion Energy CEO Steps Down With Immediate Effect * Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises * NYSE to Reopen Its Trading Floor on Tuesday * Agilent Up 5% On Solid Revenue Beat, But Top Analysts Stay Cautious
(Bloomberg) -- Oil traded near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.China warned on Sunday that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between Beijing and Washington could complicate the markets recovery from a historic demand crash. Futures edged higher in New York after falling earlier, with trading volumes thin due to holidays in the U.S., U.K. and Singapore.See also: Oils Sudden Rebound Is Exposing the Achilles Heel of ShaleCrude has surged more than 75% this month and the boss of the International Energy Agency gave bulls further hope, saying in an interview that demand may well recover from an unprecedented shock caused by Covid-19. Even so, the return of U.S.-China tensions has soured risk sentiment and rekindled more-immediate demand concerns. Theres also concern that some supplies idled during oils rout will start to return.With prices above $30, the recent rally may have pushed too far, said Hans van Cleef, senior energy economist at ABN Amro. Inventories remain highly elevated and every disappointment could trigger a fresh wave of profit taking. I will continue to point at downside risks towards my clients.The U.S. should give up its wishful thinking of changing China, Foreign Minister Wang Yi said during his annual news briefing on the sidelines of National Peoples Congress meetings in Beijing. He also warned America not to cross Chinas red line on Taiwan.While fuel consumption climbs in some nations with the easing of lockdown restrictions, the cheapest U.S. gasoline in nearly two decades wont be enough to entice nervous Americans to hit the road for Memorial Day weekend. The uncertainty around travel is so great due to the virus that American Automobile Association is not releasing a forecast for the first time in 20 years.In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond, Fatih Birol, the head of the IEA, said in an interview, urging governments to focus spending on combating climate change.Big oil annual general meetings in the U.S. and Europe this week should shed light on how heavily producers have been hit by lockdowns, with Total SA, BP Plc, Exxon Mobil Corp. and Chevron Corp. among those fronting shareholders. Meanwhile, Russian President Vladimir Putin has given his government until June 15 to come up with a plan to support the countrys oil industry.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.
The new robot barista at the cafe in Daejeon, South Korea, is courteous and swift as it seamlessly makes its way towards customers. After managing to contain an outbreak of the new coronavirus which infected more than 11,000 people and killed 267, South Korea is slowly transitioning from intensive social distancing rules towards what the government calls "distancing in daily life". Robots could help people observe social distancing in public, said Lee Dong-bae, director of research at Vision Semicon, a smart factory solution provider which developed the barista robot together with a state-run science institute.
The global tissue engineering market size is expected to reach USD 28.9 billion by 2027, expanding at a CAGR of 14.2%, according to a new report by Grand View Research, Inc. Allogenic tissue transplant method efficiently addresses challenges and limitations regarding the implementation and availability of autologous transplants. Moreover, the development of specialized procedures including implant fixing and sterilization to transform allogeneic implants so for application as biostatic implants is expected to drive revenue generation in this market.
The German economy is beginning to see light at the end of the tunnel after the passing of the severest phase of the lockdown imposed to slow the spread of the coronavirus epidemic, Ifo institute's economist Klaus Wohlrabe said on Monday. The mood in both manufacturing and services had also improved, but was still far from optimistic, he said.
FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced that it will report its first quarter 2020 unaudited financial results, on wednesday, May 27, 2020, before the open of U.S. markets.
The Ifo institute said its May survey showed that its business climate index rose to 79.5 from a downwardly revised 74.2 in April. "The mood at German companies has recovered after the catastrophic previous month," Ifo President Clemens Fuest said in a statement. Ifo economist Klaus Wohlrabe said the institute expects a double-digit contraction in the second quarter and added that companies expect exports to fall less dramatically as economic activity resumes.
German business morale rebounded in May, a survey showed on Monday, recovering from its most dramatic fall on record the previous month as firms become more optimistic as curbs to slow the spread of the coronavirus are gradually lifted. The Ifo institute said its May survey showed that its business climate index rose to 79.5 from a downwardly revised 74.2 in April. "The mood at German companies has recovered after the catastrophic previous month," Ifo President Clemens Fuest said in a statement.
It is estimated that 75% of technology start-ups do not generate profits. Other data suggest upwards of 90% of new technology enterprises completely fail. It took Thomas Edison thousands of attempts before he succeeded with his lightbulb design.
Airlines' plans to resume air travel in India were in disarray on Monday after some states restricted the number of flights hours before departure, causing last-minute cancellations and leaving hundreds of passengers stranded. Airlines, including IndiGo , India's biggest carrier, SpiceJet and Vistara, a joint venture between Tata Group and Singapore Airlines , had been preparing to resume operations from Monday with about a third of their capacity amid strict rules. IndiGo had planned to start with about 430 daily flights while its low-cost rival SpiceJet said it would operate 204 flights a day and AirAsia India would start with 77 flights.
Almost five years after Volkswagen's admission to cheating on emissions tests involving millions of diesel engined cars, a top German court will on Monday finally rule in a battle over compensation for tens of thousands of affected owners. In a preliminary finding in May, judges at the Federal Court of Justice (BGH) said there was a chance of at least partial compensation for some VW buyers, saying they had indeed been harmed by purchasing a manipulated vehicle. If the ruling is confirmed at 0900 GMT Monday, tens of thousands of cases for compensation could be brought to a close in the coming months.
As governments in many countries are easing lockdown restrictions, fitness facilities are getting ready to re-open and welcome back customers. After the pandemic, health has certainly risen to the top of the list of consumers' personal priorities, especially after so many weeks of lockdown. Now more than ever the importance of movement and exercise, with the support and motivation of fitness professionals, will be in high demand.
Over Q1 2020, COVID-19 has developed from an emerging threat to a transformational reality with potentially long-lasting effects on economic growth. All optimism for commodity markets at the start of the year was quickly extinguished as the coronavirus emerged in Wuhan, China. Prices have been dragged down further by dire market fundamentals which were a result of government-imposed lockdowns in the major global economies. Both supply and demand have been lowered across the board, but demand has been harder hit and will be slower to make a recovery. Most commodities have further to fall from here. There has been a profound human cost to the pandemic and the economic fallout of governments' responses is just starting to be counted.
(Bloomberg) -- Hertz Global Holdings Inc., the car-rental company which filed for bankruptcy late Friday, said the collapse in air travel amid the coronavirus pandemic hit its biggest source of rental revenue.The overall impact of the COVID-19 crisis devastated our revenue, according to a court filing dated Sunday signed by Jamere Jackson, an executive vice president and chief financial officer of Hertz.The company, whose counters are common in airports across the globe, said the pandemic not only hit its revenues but also placed substantial new demands on its cash. In April, the first full month after the health crisis took hold in the U.S., its global revenue dropped 73% from the same month in the previous year, according to Hertz.The bankruptcy filing in Delaware allows Hertz to keep operating while it forms a plan to pay creditors and turn around the business. While all travel-related companies have been hurt by the pandemic, a big factor for Hertz is its strategy of owning or leasing a large portion of its fleet outright instead of acquiring them through buyback agreements with manufacturers.Asset-Backed DebtIn the U.S. and in some other countries, Hertz used asset-backed debt to help finance its rental fleet. A drop in used vehicle values because of the pandemic fueled the companys woes, because of requirements to make payments -- corresponding to estimated market depreciation -- into those financial structures to prevent a cut in funding access.While the car rentor was able to negotiate a short-term reprieve from creditors until May 22 on some payments, it wasnt able to work out longer-term agreements and made the difficult decision to commence these Chapter 11 cases, Hertz said in the filing.The company has already let go about 14,400 employees, cut marketing spending and consolidated some outlets, as many of its approximately half a million rental vehicles in the U.S. stand idle. It has sufficient funds to finance operations at least through the initial stage of bankruptcy proceedings, but may seek additional borrowings as the case progresses, it said.Hertzs financial debt load, including $14.7 billion of which relates to vehicle financing activities, is no longer sustainable, according to the filing. With little hope of returning to the type of business conditions seen before the outbreak any time soon, that debt must be restructured, it said.(Updates with details from filing throughout.)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.
The New York Stock Exchange will partially reopen its trading floor to some, but not all, brokers tomorrow after closing it in late March due to Covid-19.The New York Stock Exchange, by far the world's largest stock exchange in terms of the total market capitalization of listed firms, is owned by Intercontinental Exchange (ICE).The brokers that return will be required to wear protective masks and follow social-distancing guidelines, NYSE President Stacey Cunningham wrote in a commentary published in The Wall Street Journal. They will also be asked to refrain from taking public transportation when coming to the Exchange, in order to limit their potential exposure to the virus.Cunningham wrote: We opted to close our floor temporarily in the early days of the pandemic to help slow the spread of disease. Two months later, weve learned a lot and are in a position to reopen the floor with vital new safety measures, as we begin working together to restart the U.S. economy."Cunningham specified that the measures enacted to open the trading floor may become more stringent if the cases of Covid-19 surge, and that while they will be opening their doors, no one -- traders, brokers, or NYSE employees -- will be required to come in to work. Pre-coronavirus, there were about 500 floor traders at the NYSE.The NYSE as well as ICE's other exchange assets have done quite well as the coronavirus has spurred an uptick in trading and clearing. First quarter consolidated net revenues were $1.6 billion, up 23% year-over-year, and ICE's Q1 net income was $650 million, sharply up from $484 million registered in the equivalent period a year earlier. Like many other stocks, ICE dropped in late March, but since has gained back its losses and now sits at $93.77 per share, not far off its 52-week high of $102.TipRanks data shows that out of 12 analysts, 11 rate ICE a Buy, with a $102 12-month price target for 9% upside from today's price. (See Intercontinental Exchange stock analysis on TipRanks).Related News:Tesla Drops Alameda County Lawsuit Over California Plant Reopening Facebook Invests An Eye-Watering $5.7B in Indias Jio Platforms Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness More recent articles from Smarter Analyst: * Vermilion Energy CEO Steps Down With Immediate Effect * American Airlines and Others Given Go-Ahead to Reduce Route Coverage * Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises * Agilent Up 5% On Solid Revenue Beat, But Top Analysts Stay Cautious
Shares in AgilentTechnologies (A) rose 5% on Friday after the company reported revenue of $1.24B which beat Street estimates by $40M and came in flat on a year-over-year (y/y) basis.Q2 Non-GAAP EPS of $0.71beat consensus by $0.10, although GAAP EPS of $0.32misses by $0.17. The stock is now down 0.4% since the beginning of the year.Operating profit rose 2.2% y/y to $277M, while core revenue declined 1.7% y/y, reflecting the impact of Covid-19 business disruption (particularly within academic & government and chemical & energy end-markets).Our business was tracking well into late March when we experienced significant disruption in theU.S.andEuropeas customers closed or restricted access to their facilities to slow the spread of COVID-19, saidMike McMullen, Agilent president and CEO.I believe we are well-positioned to face the challenges brought on by COVID-19 given our focus on growth, a resilient business model, a strong balance sheet, and most importantly, our outstanding team he added.Following earnings, NeedhamsStephen Ungerreiterated his Hold rating without a price target. Considering the COVID-19 environment, As FY2Q20 results were solid with adj. EPS growing 0.6% y/y to $0.71 $0.04 below our model he wrote.As a result, the analyst lowered his FY20 adj. EPS estimate from $3.42 to $3.02 (3% decline from FY19) on revenues of $5.122B (1.8% core revenue decline), a $388M reduction from his previous forecast.Given increased downside potential associated with business disruption from the COVID-19 pandemic, we consider the lower half of the [stocks current] trading range to approximate fair value ($79.00-89.00) Unger told investors on May 22.Indeed, the majority of analysts covering A rate the stock a hold, with 7 recent hold ratings vs 4 buy ratings. The $89 average analystprice targetindicates upside potential of 5%. (See Agilent stock analysis on TipRanks)Related News: Gilead and Galapagos Score Positive Topline Results For Ulcerative Colitis Trial Moderna Spikes 21% Amid Positive Early-Stage Covid-19 Vaccine Data AstraZeneca-Merck Lynparza Prostate Cancer Treatment Gets FDA Approval More recent articles from Smarter Analyst: * Vermilion Energy CEO Steps Down With Immediate Effect * American Airlines and Others Given Go-Ahead to Reduce Route Coverage * Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises * NYSE to Reopen Its Trading Floor on Tuesday
Continue reading at The Wall Street Journal
Five years after first ditching some coal companies, Nordic investors are turning their focus to bigger carbon emitters in a range of industries, paving the way for other funds to follow. Investors in the Nordic region have been among the vanguard of environmental, social and governance (ESG) investing, with Norway's NBIM grabbing most of the attention due to its size. Although some smaller funds have been more ambitious, NBIM was one of a small group of investors to exclude in 2015 all firms that derived more than 30% of revenues from thermal coal.
Continue reading at The New York Times
Its not quite a case of coitus interruptus, but efforts to create a very special baby are definitely on hold. Groundbreaking work to keep alive the nearly extinct northern white rhino subspecies population, two by in-vitro fertilization has been stalled by travel restrictions. The two northern white rhinos are female.
The melons from Yubari on the northern island of Hokkaido sold for a snip at 120,000 yen at the season's first auction -- 40 times less than last year's record price tag. An official at the wholesale market blamed the coronavirus for keeping away rich corporate clients who compete to outbid each other for the most expensive fruit. Hokkaido, the country's northernmost main island and a popular tourist destination, has seen a relatively high number of virus infection cases along with Tokyo, Osaka and other urban areas.
China said on Monday it opposes all U.S. restrictions imposed against Chinese airlines, responding to a report that the U.S. Transportation Department has demanded Chinese carriers file their schedules and other flight details by May 27. Chinese foreign ministry spokesman Zhao Lijian said flight restrictions imposed by Beijing treated all airlines equally and were due to efforts to curb COVID-19 related risks. The U.S. government late on Friday accused the Chinese government of making it impossible for U.S. airlines to resume service to China.
May.25 -- Bayer AG has reached verbal agreements to resolve a substantial portion of an estimated 125,000 U.S. cancer lawsuits over use of its Roundup weedkiller, according to people familiar with the negotiations. Tim Loh reports on "Bloomberg Markets: European Open."