Kimberly-Clark Corp Q3 adjusted earnings Miss Estimates

Impartial audit essential for resilient economy: RBI governor

Shaktikanta Das said that audit is important for the country as public expenditure decisions are based on these reports.

Reserve Bank of India governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens.

Addressing officers at the National Academy of Audit and Accounts, Mr Das said that audit is important for the country as public expenditure decisions are based on these reports.

Observing that there is a need to improve the quality and depth of audit, he said the Reserve Bank has taken a host of steps in consultation with the Institute of Chartered Accountants of India (ICAI) for improving the audit of banks and financial institutions.

Listing out some of the recent measures, he said, risk-based internal audit system for commercial banks was strengthened in January this year.

Mr Das said RBI has been stressing on a strong governance framework in banks, NBFCs for building a resilient financial sector.

"With globalisation and increasing complexities of the financial system, audit as a public good has become vital for a sound, stable and vibrant financial system," he said.

He urged the auditor community to update and upgrade skills on a constant basis, and perform their task in the most effective manner.

RIL deal: SIAC rejects Future plea to lift stay

Tribunal’s ruling puts RIL deal in limbo

The Singapore-based arbitrator, SIAC, has rejected Future Retail’s plea to lift the interim stay on its ₹24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction.

The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail Ltd. (FRL) is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail.

FRL said in a filing it would decide its future action based on legal advice.

U.S., India's Biological E. finalise $50 million financing deal for COVID-19 shots

BENGALURU (Reuters) – The United States, through its International Development Finance Corporation, and India’s Biological E. Ltd said on Monday they have finalised a financing arrangement for $50 million to expand the vaccine maker’s capacity to produce COVID-19 shots.

PayPal Says Not Pursuing Pinterest Acquisition

Digital payments firm PayPal Holdings Inc. (PYPL) stated that it is not pursuing an acquisition of Pinterest Inc. (PINS) at this time. The company was responding to market rumors of talks regarding a potential acquisition of Pinterest by PayPal.

Bloomberg News reported recently that San Jose, California-based PayPal was exploring a $45 billion acquisition of social media company Pinterest. PayPal reportedly had offered $70 per share, mostly in stock.

In pre-market activity on Nasdaq, PayPal shares were gaining around 6 percent to trade at $253.87, while on NYSE’s pre-market trading, Pinterest shares were losing around 10 percent to trade at $52.41.

Sudan's Burhan declares state of emergency, dissolves government

FILE PHOTO: Sudan’s Sovereign Council Chief General Abdel Fattah al-Burhan addresses delegates in Juba, South Sudan March 28, 2021. REUTERS/Jok Solomun/File Photo

CAIRO (Reuters) – Sudan’s ruling council head Abdel Fattah al-Burhan announced on Monday a state of emergency across the country and the dissolution of the transitional sovereign council and the government.

Lennox Int’l Narrows FY21 Outlook Range; Q3 Results Miss Estimates – Quick Facts

While reporting financial results for the third quarter on Monday, Lennox International Inc. (LII) narrowed its earnings and revenue growth guidance for the full-year 2021.

For fiscal 2021, the company now projects earnings from continuing operations in a range of $11.97 to $12.17 per share and adjusted earnings from continuing operations in a range of $12.10 to $12.30 per share on revenue growth of 13 to 15 percent.

Previously, the company expected earnings from continuing operations in a range of $11.97 to $12.57 per share and adjusted earnings from continuing operations in a range of $12.10 to $12.70 per share on revenue growth of 12 to 16 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.87 per share on a revenue growth of 15.5 percent to $4.28 billion for the year. Analysts’ estimates typically exclude special items.

For the third quarter, income from continuing operations for the third quarter edged down to $126.3 million or $3.41 per share from $131.7 million or $3.42 per share in the prior-year quarter.

Excluding items, adjusted income from continuing operations for the quarter was $3.40 per share, compared to $3.53 per share in the year-ago quarter.

Net sales for the quarter remained relatively flat at $1.06 billion.

The street was looking for earnings of $3.64 per share on net sales of $1.13 billion for the quarter.

Helix Energy Solutions Q3 Earnings Summary

Below are the earnings highlights for Helix Energy Solutions (HLX):

-Earnings: -$19.04 million in Q3 vs. $24.50 million in the same period last year.
-EPS: -$0.13 in Q3 vs. $0.16 in the same period last year.
-Analysts projected -$0.10 per share
-Revenue: $180.72 million in Q3 vs. $193.49 million in the same period last year.

Kimberly-Clark Corp Q3 adjusted earnings Miss Estimates

Below are the earnings highlights for Kimberly-Clark Corp (KMB):

-Earnings: $469 million in Q3 vs. $472 million in the same period last year.
-EPS: $1.39 in Q3 vs. $1.38 in the same period last year.
-Excluding items, Kimberly-Clark Corp reported adjusted earnings of $548 million or $1.62 per share for the period.
-Analysts projected $1.65 per share
-Revenue: $5.01 billion in Q3 vs. $4.68 billion in the same period last year.

-Guidance:
Full year EPS guidance: $6.05 to $6.25