Category: Business News

November 13, 2020

Washington, DC (STL.News) The US Securities and Exchange Commission (SEC) has filed an Administrative Proceeding against Benjamin F. Edwards & Company, Inc. pursuant to Section 15(b) of the Securities and Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, making findings and imposing remedial sanctions in addition to a Cease-and-Desist Order. CLICK to VIEW FILING – PDF Source link ...

Business News

SEC files Administrative Proceeding against John G. Stumpf

November 13, 2020

Washington, DC (STL.News) The US Securities and Exchange Commission has filed an Administrative Proceeding against John G. Stumpf pursuant to Section 8A of the Securities Act of 1933, and imposing a Cease-and-Desist Order. CLICK to VIEW FILING – PDF Source link ...

Business News

Newmont Commits to Industry-Leading Climate Targets

Commits to 30% GHG emissions reductions by 2030 and goal of net zero emissions by 2050 DENVER, CO (STL.News) Today, Newmont Corporation (NYSE: NEM, TSX: NGT) the world’s leading gold mining company, announced industry-leading climate targets of 30% reduction in greenhouse gas (GHG) emissions by 2030, with an ultimate goal of achieving net zero carbon emissions by 2050. The new 2030 target builds upon Newmont’s existing GHG emissions reductions target of 16.5 percent over five years, concluding in 2020. “At Newmont, we hold ourselves to high standards — from the way in which we govern our business, to how we manage relationships with our stakeholders, to our environmental stewardship and safety practices,” said Tom Palmer, President and CEO of Newmont Corporation. “We fundamentally un...

Business News

H&R Block to Host Virtual Investor Day, Report Fiscal 2021

H&R Block to Host Virtual Investor Day and Report Fiscal 2021 Second Quarter Results on December 8 KANSAS CITY, MO (STL.News) H&R Block, Inc. (NYSE: HRB) announced today that the company will host a virtual Investor Day event on Tuesday, December 8, 2020. The meeting will be streamed live via the company’s events page on its investor relations website, located at https://investors.hrblock.com/financial-information/events-calendar, beginning at 10:00 a.m. EST. During the event, Jeff Jones, H&R Block’s president and chief executive officer; Tony Bowen, chief financial officer; and additional members of the senior leadership team will discuss the next phase of the company’s strategic transformation as the company continues to innovate to better serve customers in the core are...

Business News

Fluor Reports Second Quarter 2020 Results

IRVING, Texas (STL.News) Fluor Corporation (NYSE: FLR) today announced financial results for its quarter ended June 30, 2020. Revenue for the quarter was $4.1 billion and net loss from continuing operations attributable to Fluor was $27 million, or $0.19 per share. Consolidated segment profit for the quarter was $61 million, compared to a loss of $393 million a year ago. Results for the quarter reflect the impact to its operations due to a severe downturn in the economy related to COVID-19. There were no material project adjustments in the quarter. Operating cash flow in the quarter was $128 million. New awards for the second quarter were $2.2 billion and ending backlog was $29.0 billion. Corporate general and administrative expenses for the quarter were $40 million. NOTE: this i...

Business News

Tyson Foods – Global Forest Protection Standard

SPRINGDALE, AR (STL.News) Tyson Foods, Inc. (NYSE: TSN) today announced a Forest Protection Standard focused on reducing deforestation risk in its global supply chain of four commodities – cattle and beef; soy; palm oil; and pulp, paper and packaging. Earlier this year, Tyson Foods partnered with Proforest to conduct a deforestation risk assessment. The assessment concluded that nearly 94 percent of the company’s land footprint is at no to low risk of being associated with deforestation. To proactively address the remaining six percent that was found to be at risk, the Forest Protection Standard was developed to ensure the company is continuing to target the reduction of deforestation risk throughout the global supply chain. “As one of the world’s largest food companies and a recogni...

Business News

Global stocks up as vaccine shields against second-wave worries

November 11, 2020

(STL.News) Stock markets gained on Wednesday, as news of a working COVID-19 vaccine seemed to inoculate investors against worry about surging infections in Europe and the United States, while the kiwi rose as traders thought the central bank sounded upbeat. YouTube video provided courtesy of WION News STL.News References: YouTube WION News Source link ...

Business News

American Airlines – Pricing of Offering of Common Stock

FORT WORTH, Texas (STL.News) American Airlines Group Inc. (NASDAQ: AAL) (the “Company”) today announced that it priced its underwritten public offering of 38,500,000 shares of its common stock (the “Common Stock”). BofA Securities may offer the Common Stock from time to time in one or more transactions on the Nasdaq, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The Company expects to use the net proceeds from the offering for general corporate purposes and to enhance the Company’s liquidity position. The Company has granted the underwriter of the offering a 30-day option to purchase, in whole or in part, up to 5,775,000 additional share...

Business News

Federal Reserve Board approves fee schedule

Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services Washington, DC (STL.News) The Federal Reserve Board on Tuesday announced the approval of fee schedules, effective January 4, 2021, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve Banks project that they will recover 98.7 percent of their priced services costs in 2021. The Reserve Banks will maintain the current schedule of prices for payment services provided to depository institutions (priced services) in 2021, with the exception of a modification to the Check Services participation fee. While the Reserve Banks do not expect to recover fully actual and imputed expenses, including profit that would have been earned if a private-sector f...

Business News

Ameren Recognized – 2021 Military Friendly® Employer

Twelfth Consecutive Year Company Has Received This Honor ST. LOUIS, MO (STL.News) Today, Ameren is announcing that it has earned the 2021 Military Friendly® Employers designation. This marks the twelfth consecutive year Ameren has garnered this prestigious designation, cementing it as one of the leading companies in the nation for recruiting and retaining veterans. “We are proud of the ongoing accomplishments and contributions made by our veteran co-workers,” said Mark Lindgren, senior vice president, corporate communications and chief human resources officer for Ameren Corporation. “Their strong work ethic, transferable skills and commitment to teamwork make them ideal team members who help us deliver on our mission to Power the Quality of Life for our customers in the many communit...

Business News

Tyson Foods Plans for Production Facilities for Its International Business

Tyson Foods Announces Plans for Additional Production Facilities for Its International Business Company expanding international production to continue its global growth strategy SPRINGDALE, AR (STL.News) Tyson Foods, Inc. (NYSE: TSN) today announced plans to build new production facilities in China and Thailand, and expand its facility in the Netherlands. The latest expansions, adding over 100,000 metric tons of fully cooked poultry capacity, build on the company’s global growth strategy to become the leader in protein by serving emerging markets and strategic customers. “Global population and income growth will continue to drive an increased need for protein,” said Dean Banks, president and CEO of Tyson Foods. “These investments allow us to increase our in-country operations and glo...

Business News

Dollar General Announces New Distribution Center in Nebraska

DG Fresh and Dry Combination Facility in Blair (Washington County) slated to Create Approximately 400 New Job Opportunities Goodlettsville, TN (STL.News) Dollar General (NYSE:DG) today announced plans to build a combination dry and DG Fresh distribution center in Blair, Nebraska, representing an approximate $85 million investment in Washington County. At full capacity, the contemporary 800,000-square-foot facility is expected to create approximately 400 new career opportunities and support more than 1,500 stores in the Midwest. Construction is scheduled to begin next month with completion currently slated for early 2022. Blair’s dual facility will represent the first combination building constructed by the Company and will include approximately 650,000 square feet of dry goods and ap...

Business News

Rockwell Automation Reports Fourth Quarter, Full Year 2020 Results

Rockwell Automation Reports Fourth Quarter and Full Year 2020 Results; Introduces Fiscal 2021 Guidance Fourth quarter reported sales down 9.3 percent year-over-year; organic sales down 12.1 percent year-over-year Fourth quarter reported sales up 12.6 percent sequentially; organic sales up 9.9 percent sequentially Fourth quarter diluted EPS of $2.25; Adjusted EPS of $1.87 Full year fiscal 2020 diluted EPS of $8.77; Adjusted EPS of $7.68 Full year fiscal 2020 Cash Flow from Operations of $1,120.5 million; Free Cash Flow conversion of 112% Redefining Adjusted Income and Adjusted EPS in fiscal 2021; fiscal 2020 Adjusted EPS in the new definition was $7.87 Introduces fiscal 2021 EPS guidance: Diluted EPS $8.07 – $8.47; Adjusted EPS $8.45 – $8.85 (new definition) MILWAUKEE, WI (STL.News) Roc...

Business News

Third Quarter 2020 Financial Results on November 16, 2020