China Yuchai International Ltd Q2 Income Climbs

Instagram Faces Lawsuit Over Illegal Harvesting of Biometrics

Facebook Inc. is facing new allegations that it illegally harvests the biometric data of users, this time in a lawsuit that targets the company’s photo-sharing app Instagram.

Last month, the social media company offered to pay $650 million to settle a lawsuit in which it was accused of illegally collecting biometric data through a photo-tagging tool provided to Facebook users.

In the new lawsuit, filed Monday in state court in Redwood City, California, the company is accused of collecting, storing and profiting from the biometric data of more than 100 million Instagram users, without their knowledge or consent.

The practice violates an Illinois privacy law that bars the unauthorized collection of biometric data, according to the lawsuit. Under the law a company can be forced to pay $1,000 per violation — or $5,000 if it’s found to have acted recklessly or intentionally.

Only at the beginning of this year did Facebook start informing Instagram users that it was collecting the biometric data, according to the suit.

Facebook didn’t immediately respond to a request for comment, made after regular business hours.

The suit is Whalen v. Facebook, 20-civ-03346, Superior Court of California (Redwood City).

Just Eat Takeaway.com HY Loss Widens – Quick Facts

Just Eat Takeaway.com N.V. (JET.L) reported that its loss for the first six months of 2020 was 158 million euros, compared to a loss of 27 million euros in the first half of 2019. The loss was mainly driven by amortisation, advisory, transaction and integration related expenses connected to the combination of Just Eat and Takeaway.com and the proposed transaction with Grubhub.

Adjusted EBITDA for the period increased 133% to 177 million euros, from the prior year, driven by gross margin growth.

The company said it processed 257 million orders in the first six months of 2020, representing a 32% increase from last year, driven by strong accelerated order growth in the second quarter of 2020.

Like-for-like total revenue was 1.031 million euros in the first six months of 2020, a 44% increase from €715 million in the first half of 2019.

Hong Kong reports 62 new coronavirus cases

HONG KONG (REUTERS) – Hong Kong reported 62 new coronavirus cases on Wednesday (Aug 12), as authorities cautioned that the global financial hub still faced a critical period to contain further transmissions of the virus and warned residents to stay vigilant at social distancing.

Authorities said 61 of the 62 cases were locally transmitted.

Since late January, around 4,200 people have been infected in Hong Kong, 63 of whom have died. Wednesday’s figure was up from Tuesday’s 33 cases.

EARNINGS SUMMARY: Details of Pacific Ethanol, Inc. Q2 Earnings Report

Below are the earnings highlights for Pacific Ethanol, Inc. (PEIX):

-Earnings: $14.65 million in Q2 vs. -$7.96 million in the same period last year.
-EPS: $0.27 in Q2 vs. -$0.17 in the same period last year.
-Analysts projected -$0.20 per share
-Revenue: $212.07 million in Q2 vs. $346.30 million in the same period last year.

Anti-gov't protests resume in Mali after weeks-long pause

Demonstrators are calling for the resignation of President Ibrahim Boubacar Keita as mediation stalls.

Despite regional mediation efforts, Mali’s political crisis is getting worse.

Huge demonstrations continue against the government, demanding President Ibrahim Boubacar Keita resign, accusing him of failing to deal with the economy and corruption.

Al Jazeera’s Nicolas Haque reports.d

European Economics Preview: Eurozone Final Composite PMI Data Due

Final Purchasing Managers’ survey results from euro area and the UK are due on Wednesday, headlining a busy day for the European economic news.

At 3.00 am ET, the Czech Statistical Office releases retail sales data for June.
Sales are forecast to climb 3.6 percent on year, reversing a 0.7 percent drop in May.
In the meantime, retail sales data is due from Hungary.

At 3.15 am ET, Markit publishes Spain’s services PMI data. Economists forecast the index to rise to 52.0 in July from 50.2 in June.

At 3.30 am ET, Statistics Sweden is scheduled to issue quarterly national accounts for the second quarter and industrial production for June.

At 3.45 am ET, Italy’s services PMI data is due. The services index is seen at 51.1 in July versus 46.4 in June.

Thereafter, final PMI survey results are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, Eurozone final PMI data is due. The composite indicator is seen unchanged from the flash estimate, at 54.8 in July versus 48.5 in June.

Half an hour later, IHS Markit is scheduled to issue UK’s final composite PMI survey results. According to flash estimate, the composite index rose to a 61-month high of 57.1 in July from 47.7 in June.

At 5.00 am ET, Eurostat is slated to issue Eurozone retail sales data for June. Economists forecast sales to grow 5.9 percent on month, slower than the 17.8 percent increase seen in May.

China Yuchai International Ltd Q2 Income Climbs

China Yuchai International Ltd (CYD) released a profit for its second quarter that advanced from the same period last year.

The company’s earnings totaled $48.12 million, or $0.85 per share. This compares with $29.59 million, or $0.51 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 34.7% to $925.16 million from $686.73 million last year.

China Yuchai International Ltd earnings at a glance:

-Earnings (Q2): $48.12 Mln. vs. $29.59 Mln. last year.
-EPS (Q2): $0.85 vs. $0.51 last year.
-Analysts Estimate: $0.62
-Revenue (Q2): $925.16 Mln vs. $686.73 Mln last year.