Alibaba Group Holding Ltd Q4 adjusted earnings of RMB9.20 per share

Japan Nishimura: Govt, BOJ work together towards moderate price increase

TOKYO, May 22 (Reuters) – Japanese Economy Minister Yasutoshi Nishimura said on Friday that the government and the Bank of Japan would continue to work together towards a moderate increase of prices.

Nishimura, speaking to reporters, also said that the government and the central bank shared strong sense of understanding about the crisis in the economy. (Reporting by Kaori Kaneko and Daniel Leussink; Editing by Toby Chopra)

Watch | Mechanic invents ‘social distancing’ motorbike

A video on a ‘social distancing motorbike’ that was invented by a mechanic from Agartala

This is a ‘social distancing motorbike’  It was built by Partha Saha, a mechanic from Agartala, Tripura.

It is an attempt to increase the importance of physical distancing at the time of COVID-19.

Coronavirus | Unsure what herd immunity or social distancing is? Here’s a coronavirus dictionary

The motorbike has a one-metre distance between the rider and passenger. Saha bought an old bike from a scrap dealer and removed the engine. He cut the machine into two parts, and affixed a rod to connect the wheels.

Also read | This app scores you on your social distancing amid the Coronavirus pandemic

The motorbike runs on battery power. It has a top speed of 40 kmph. It takes about 3 hours to charge the battery. The bike can then travel upto 80 km. The cost of charging the battery each time is Rs. 10.

Saha plans to use this motorbike to take his daughter to school. He feels that the current situation might persist and didn’t want her to take the school bus. Tripura’s chief minister Biplab Kumar Deb has also praised Saha for this invention.

China sovereign CDS at one-week high after Hong Kong move

LONDON, May 22 (Reuters) – The cost of insuring debt issued by China rose to a one-week high on Friday, reflecting worries that Beijing’s move to impose a new security law on Hong Kong will increase tensions with the United States.

Five-year credit default swaps for China reached 52 basis points, up 4 bps from Thursday’s close, data from IHS Markit showed.

The cost of CDS for Russia, South Africa and Turkey also jumped by between 5 and 14 basis points, the data showed. (Reporting by Tom Arnold; Editing by Catherine Evans)

Cruise staff stranded: Thousands still await repatriation

As many countries continue to open up, it is a different story out at sea, where thousands are still stuck on cruise ships.

Tens of thousands of cruise ship staff remain trapped at sea, two months after the pandemic crippled the industry.

Some say they have been abandoned.

Many are not being paid, while some have gone on hunger strike.

Passengers were repatriated through March and April, but getting staff home has been a logistical nightmare for the industry.

Al Jazeera’s Andy Gallacher reports from Miami, United States.

BOJ can keep yields from rising even if government issues more debt – governor

TOKYO, May 22 (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Friday the central bank’s aggressive bond buying would keep long-term interest rates low even if the government issued more debt to combat the economic fallout from the coronavirus pandemic.

“Our policy framework can keep long-term interest rates from rising even if the government increases bond issuance,” Kuroda told a news conference after holding a bilateral meeting with Finance Minister Taro Aso. (Reporting by Leika Kihara; Editing by Edmund Blair)

Indonesia reports 634 new coronavirus cases, 48 more deaths

JAKARTA (REUTERS) – Indonesia reported on Friday (May 22) 634 new cases of coronavirus infection, taking the total in the South-east Asian nation to 20,796, according to Health Ministry official Achmad Yurianto.

Dr Achmad also reported 48 more Covid-19 deaths, taking the total to 1,326, while more than 5,000 have recovered.

Foot Locker Posts Adj. Loss In Q1; Comps. Down 42.8% – Quick Facts

Foot Locker, Inc. (FL) reported a first quarter non-GAAP loss per share of $0.67, compared to non-GAAP profit of $1.53 per share, last year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.49, for the quarter. Analysts’ estimates typically exclude special items. Gross margin rate decreased to 23.0 percent from 33.2 percent a year ago.

First quarter sales decreased 43.4 percent, to $1.18 billion from prior-year period. Excluding the effect of foreign exchange rate fluctuations, total sales decreased 42.9 percent. Analysts expected revenue of $1.58 billion for the quarter. Comparable-store sales decreased 42.8 percent.

The company’s Board has decided to temporarily suspend the cash dividend beginning with the second quarter payment. The Board will continue to evaluate the dividend policy on a quarterly basis.

Shares of Foot Locker were down 5% in pre-market trade on Friday.

Alibaba Group Holding Ltd Q4 adjusted earnings of RMB9.20 per share

Alibaba Group Holding Ltd (BABA) reported a profit for fourth quarter that fell from the same period last year.

The company’s bottom line came in at RMB3.16 billion, or RMB1.16 per share. This compares with RMB25.83 billion, or RMB9.84 per share, in last year’s fourth quarter.

Excluding items, Alibaba Group Holding Ltd reported adjusted earnings of RMB22.29 billion or RMB9.20 per share for the period.

The company’s revenue for the quarter rose 22.3% to RMB114.31 billion from RMB93.50 billion last year.

Alibaba Group Holding Ltd earnings at a glance:

-Earnings (Q4): RMB22.29 Bln. vs. RMB20.06 Bln. last year.
-EPS (Q4): RMB9.20 vs. RMB8.57 last year.
-Revenue (Q4): RMB114.31 Bln vs. RMB93.50 Bln last year.