STMicro sees more sales growth in fourth-quarter despite Huawei ban

PARIS (Reuters) – Franco-Italian chipmaker STMicroelectronics is expecting strong demand from the car and mobile phone industries to boost sales growth in the fourth quarter as it braces for a loss of revenue from China’s Huawei

FILE PHOTO: A logo is pictured on the factory of STMicroelectronics in Plan-les-Oautes near Geneva, Switzerland, December 6, 2016. REUTERS/Denis Balibouse/File photo

The Geneva-based company, whose major clients include iPhone maker Apple and carmaker Tesla, was also positive on the outlook for 2021, helping its share to reverse declines earlier on Thursday.

STMicro said it was expecting fourth-quarter sales to grow by about 12% from the previous quarter to $2.99 billion and to generate a gross margin of about 38.5%, or two and a half percentage points higher than in the quarter that ended in September.

This forecast takes into account the loss of sales from Huawei, the world’s biggest telecoms equipment maker, following

Read More Sees Record Number of Bidders, Lots, and Auctions Last Week, Plus $28.9M in Sales; Antiques, Farm Equipment, and More Up for Sale Now

Press release content from PR Newswire. The AP news staff was not involved in its creation.

OCALA, Fla., Oct. 22, 2020 /PRNewswire/ — reports that nearly $29 million (gross auction proceeds) in assets were sold in last week’s auctions. The online platform held a total of 1,062 auctions from October 12th through the 18th. With an average of 808,000 bidders submitting 1.32 million bids per day, auctioneers sold more than 367,000 lots over the course of the week.

HiBid also set several records last week. On Friday, the online auction platform experienced its highest number of auction lots for sale (736,000), biddable auctions (2,693), and total auctions (3,020). On Saturday, HiBid set another record, this one for the most bidders from its many portals (127,000 bidders placing 209,000 bids), while total bidders from all HiBid auction sites reached 881,000. HiBid works seamlessly with Auction Flex

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Manhattan’s Luxury Condo Market Sees Distress Opportunities

125 Greenwich Street (Photos by Sylvia Varnham O’Regan)

A partially built condominium in Manhattan’s Financial District cuts a melancholy figure on an overcast Saturday in August. The front of the building, an exposed checkerboard of unfinished apartments, stretches 912 feet upward into a fog of gray cloud. Two security guards mill about on the deserted pavement opposite.

Construction at 125 Greenwich Street has been stalled for months, and the developers, a group that includes Davide Bizzi’s Bizzi & Partners and Howard Lorber’s New Valley, are on a mission to see it over the finish line.

That may be tricky: The project is deep in debt, and two foreclosure actions filed before the pandemic hang over it. Sales were expected to begin closing by June 30. When that didn’t happen, Michael Feldman of Romer Debbas said, four of his clients who had bought units in the building took the developers up

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Are Nursing Homes Safe Now? Kansas Facility Sees All Residents Test Positive For COVID-19

A Kansas nursing home has seen all 62 of its residents test positive for COVID-19 along with an unspecified number of staff members.

The coronavirus outbreak at the Norton County, Kansas-based Andbe Home nursing home resulted in the death of 10 residents and one hospitalization, with the remaining patients being treated at the facility, the Norton County Health Department confirmed on Monday night.

The health department said in a statement that the residents were being quarantined in their rooms and were not being allowed outside visitors.

Kansas has reported an average of more than 700 new positive cases of the coronavirus and probable cases of the virus a day – the largest reporting since early March, CBS News reported.

With the risk of contracting the coronavirus higher in elderly adults, many nursing homes are seeing cases spike as the pandemic continues to wage on. At the height of the outbreak

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Land Securities’ New CEO Sees a Future for London Offices

(Bloomberg) — Land Securities Group Plc, one of the U.K.’s biggest real estate investment trusts, signaled confidence in the future of London offices in a strategy set out by new Chief Executive Officer Mark Allan.

a large body of water with a city in the background: Skyscrapers stand in the City of London square mile financial district as the sun sets in London, U.K., on Monday, Sept. 14, 2020. Londoners are steadily increasing their use of public transport after schools reopened, freeing parents to go back to the workplace.

© Bloomberg
Skyscrapers stand in the City of London square mile financial district as the sun sets in London, U.K., on Monday, Sept. 14, 2020. Londoners are steadily increasing their use of public transport after schools reopened, freeing parents to go back to the workplace.

The company plans to sell non-core assets including its leisure properties and reinvest the proceeds in developing new offices and mixed-use projects, the company said in a statement Monday. Rental income from existing properties won’t be the key driver of earnings, he said.

“London remains one of the world’s gateway cities, and this portfolio represents a good source of liquidity over time, with clear potential to recycle capital out of

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Hot New Zealand property market sees mad scramble for real estate | 1 NEWS

While predictions for the property market were all doom and gloom six months ago, New Zealand is now seeing a scramble for real estate amid the Covid-19 pandemic and an economic recession.

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Amid a global pandemic and an economic recession, Kiwis are lining up to buy houses, meaning there aren’t enough houses to meet soaring demand.
Source: Sunday

From first home buyers to multimillion dollar dealmakers, Kiwis are lining up to take advantage of the hot property market – and there aren’t enough houses to meet the soaring demand.

On Auckland’s Paritai Drive, house prices are rising, with one home buyer buying a $1.85 million property without stepping a foot inside.

The situation is the same in the South Auckland suburb of Manurewa.

“I’m quite frustrated. It’s every New Zealander’s dream to own their own property but we are struggling to do it,

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