NFL Picks: Green Bay big home favorite over terrible Washington defense – The Denver Post

Rising prices restrain consumer mood in festive season

Millions of Indian households are facing strains on their budgets ahead of Deepavali, which marks the country’s busiest shopping season for consumer goods

For Delhi resident Suman Milind, rising prices are casting a long shadow over the upcoming Deepavali festival.

The 33-year-old homemaker is tightening her purse strings, thanks to soaring costs of fuel, transport and many manufactured items, coupled with stagnant incomes due to the pandemic.

“Earlier we used to get four or five boxes of dry fruits during festivals, but now we hardly get one or two because of the high prices,” said Ms. Milind.

Millions of Indian households are facing similar strains on their budgets ahead of Deepavali, which this year falls in early November and marks the country’s busiest shopping season for consumer goods.

Many are foregoing big-ticket purchases such as television sets and jewellery, according to half-a-dozen people Reuters spoke to and a consumer survey by Mumbai-based consultancy Axis My India, threatening to slow an economy recovering from the worst of COVID-19.

Pump prices of petrol and diesel are up nearly 35% from a year ago and cooking gas by more than 50%, severely hitting more than three-quarters of households, economists said.

OFG Q3 Net Surges On Credit Loss Reserve Reversal

OFG Bancorp (OFG), the financial holding company for Oriental Bank, reported third quarter income that increased more than 61 percent, primarily due to a reversal of provision for credit losses.

Net Income for the period was $41.7 million or $0.81 per share as compared to $25.8 million or $0.50 per share in the third quarter of 2020. Net Interest Income increased to $102.7 million from $99.5 million in the year-ago period.

Total interest expenses declined to $9.4 million from $15.4 million in the prior period as cost of core deposits declined to 30 bps from 56 bps, primarily due to generally lower rates. Total non-interest income increased marginally to $32.5 million from $31.3 million in the previous year. Total non-interest expenses declined to $78.9 million from $83.4 million in the third quarter of 2020. The latest third quarter reflected a $2.2 million benefit in credit related expenses from gains on sales of real estate owned, previously announced cost savings, and increased compensation.

Provision for credit losses was a net benefit of $5 million as compared to an expense of $13.7 million in the corresponding quarter of 2020 reflecting continued improvement in asset quality trends.

Average customer deposit balances were $9.10 billion compared to $8.38 billion in the third quarter of 2020. Average loan balances were $6.47 billion compared to $6.79 billion in the third quarter of 2020.

OFG closed Tuesday’s trading at $25.41, up $0.02 or 0.08 percent from previous close. It is currently trading in pre-market at $25.70, up $0.29 or 1.14 percent from previous close.

Continental Preliminary Q3 Sales Down; Cuts FY21 Outlook

Continental (CTTAY.PK) reported that its third-quarter preliminary consolidated sales declined from last year. The company cut its fiscal year 2021 outlook due to the ongoing constraints related to semiconductor components as well as uncertainties related to the supply chain and in customer demand.

Continental now expects that global light vehicle production growth in fiscal 2021 will be between -1% and +1% versus fiscal 2020. The company’s previous outlook assumed global light vehicle production would grow by 8% to 10%.

The company cut annual consolidated sales outlook to a range of about 32.5 billion euros – 33.5 billion euros from the prior outlook of 33.5 billion euros – 34.5 billion euros.

The company now projects annual adjusted EBIT margin to be in the range of about 5.2% to 5.6% compared to the prior outlook of 6.5% to 7.0%.

Consolidated sales of the continental Group for the third-quarter declined to 8.04 billion euros from the prior year’s 8.68 billion euros. Adjusted EBIT margin was 5.2% compared to 8.4% in the prior year. Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was -8.5%.

The company will release financial statement for the third quarter of fiscal 2021 on November 10, 2021.

Oil Futures Pares Early Gains, Settle Notably Lower

Crude oil prices declined sharply on Thursday, weighed down by a forecast that U.S. weather this winter will likely be warmer than average.

Profit taking after recent strong gains and lower coal and natural gas prices also contributed to oil’s decrease today.

Oil’s reversal after early gains was also due to fears that China Evergrande’s debt troubles could hit China’s broader economic recovery.

West Texas Intermediate Crude oil futures for December ended down by $0.92 or about 1.1% at $82.50 a barrel.

WTI Crude oil futures, which had climbed to $83.96 a barrel in Asian trading, dropped as low as $80.79 a barrel later on in the session.

Brent crude futures were down $1.19 or 1.4% at $84.63 a little while ago. The contract had climbed past $86.00 a barrel earlier in the day.

Coal prices dropped by about 11% in China after the country indicated it might intervene to tame record high coal prices and that it would ensure coal mines operate at full capacity.

Meanwhile, Kuwait has reportedly begun to increase its crude production in accordance with an agreement reached by OPEC+.

NFL Picks: Green Bay big home favorite over terrible Washington defense – The Denver Post

Game of the week

Kansas City at Tennessee

Lock of the week

Upset of the week

Around the AFC: Tennessee’s Derrick Henry running away from other tailbacks

Around the AFC

Around the NFC: Dallas cornerback Trevon Diggs’ interception ability puts him in rare company

Around the NFC