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TD beats expectations with higher profit, lower loan losses

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TD beats expectations with higher profit, lower loan losses

TD Bank Group beat expectations as it reported its fourth-quarter profit rose compared with a year ago, boosted by the sale of TD Ameritrade.

The bank says it earned $5.14 billion or $2.80 per diluted share for the quarter ended Oct. 31, up from $2.86 billion or $1.54 per diluted share a year ago.

Revenue totalled $11.84 billion, up from $10.34 billion in the same period a year earlier.

Provisions for credit losses were $917 million, up from $891 million a year ago but down from nearly $2.19 billion in the third quarter.

On an adjusted basis, TD says it earned $1.60 per diluted share in its latest quarter, up from an adjusted profit of $1.59 per diluted share in the same quarter last year.

Analysts on average had expected TD to earn an adjusted profit of $1.28 per share in the quarter, according to financial data firm Refinitiv.

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More Punjabi writers return Sahitya awards | India News

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More Punjabi writers return Sahitya awards | India News

NEW DELHI: Noted Punjabi writers, angry over thdrope central government’s “ill treatment” of agitating farmers seeking repeal of the new agriculture laws, have started returning their Sahitya awards. After Swarajbir Singh, Jaswinder Singh and Mohanjit, two young writers Yadwinder Singh and Harmanjeet Singh have announced to return their Sahit Akademi Yuva Awards.
Noted singer and actor Harbhajan Mann too has declined to accept the award announced by Punjab government on Thursday. Philanthropist and environmentalist Baba Sewa Singh, too, returned the Padma Shri awarded to him in 2010 to show his solidarity with the agitating farmers.

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Not just pent up demand that is reviving economy: FM

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Not just pent up demand that is reviving economy: FM

New Delhi: Finance Minister Nirmala Sitharaman on Friday said the economy reflating at a rate faster than previously expected is not just due to pent up demand but also because of additional demand coming in, and the recovery will sustain.

Without delving into the budget she will present in two months, she said the government and the Reserve Bank are coordinating for a quicker economic recovery.

She also said the uptick in inflation, which held back the RBI from cutting interest rates on Friday, was seasonal and she was not overtly worried about it.

“The blip in inflation particularly of food items will ease out. I don’t see this inflation, particularly on food items, continuing where it is, it will come down,” she said at the HT Leadership Summit.

The shallower-than-expected contraction in GDP at (-) 7.5 per cent in the July-September quarter has been attributed by some analysts to pent up demand for the lockdown period and the festive season. They assume the recovery will flip once the festival season is over.

However, Sitharaman said the consistent Rs 1 lakh crore GST collections for two months and expansion plans of industry in core sectors indicate that there is additional demand in the economy.

“I am not sure if just the pent up and festival demand will explain the more than Rs 1 lakh crore collection in GST for two months… I’m also talking to various industry leaders who are looking at capacity expansion.

“Core sector industry cement, iron and steel are all going towards expansion. It is an indication that additional demand is coming in. It is not something that is pent up or festival driven demand. It is likely to sustain,” she emphasised.

The RBI on Friday also revised its growth outlook, seeing a milder 7.5 per cent contraction in the fiscal year to March 2021 as opposed to its October forecast of a 9.5 per cent shrinkage of the GDP.

This after a shallower-than-expected decline in the gross domestic product (GDP) in the July-September quarter.

India entered a technical recession last week — it was the first time in decades that Asia’s third-largest economy saw two consecutive quarters of contraction. A coronavirus lockdown between late-March and May led to a collapse in private consumption and investment demand as well as significant job losses, which further curtailed spending.

Sitharaman said the fiscal deficit in the current fiscal to March 2021 will certainly be higher than the one projected in the budget for 2020-21. She, however, did not give specific details.

On inflation, she said “I am actually not worried about inflation to the extent that there are seasonal ups and downs in prices and commodities where we are seeing hike in prices are largely seasonal.”

She said fruits and vegetables, and edible oil are seeing seasonal fluctuation and the government is taking a conscious call to fill in supply-level shortages through imports and sorting out logistical constraints.

The RBI earlier in the day said retail inflation is likely to remain elevated at around 6.8 per cent in the third quarter of the current fiscal.

The minister further said the RBI and finance ministry have to maintain a continuous balance to revive the economy and sustain the growth momentum.

“These are not small, black and white situation. There are issues where a lot of calibration and coordination with RBI will have to be worked out and we are continuously doing that,” she said.

“Proper recovery is possible from next year,” she added.

Sitharaman also said the farm reform legislations were brought after elaborate stakeholder consultations and a lot of homework and these laws will benefit farmers.

She said the agriculture minister is meeting agitating farmers with an open mind and hoped a solution is found soon.

The minister added that national and regional parties have all said at different times that these reforms were long awaited.

“Many parliamentary committees have discussed some aspects… It’s not something which is just done in a jiffy. They have gone through grind for sometime,” she said.



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Photos: Alaya F looks beautiful as she steps out for a dinner in the city | Hindi Movie News

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Photos: Alaya F looks beautiful as she steps out for a dinner in the city | Hindi Movie News

Alaya F was snapped by the paparazzi as she stepped out for a dinner in the city. The actress looked absolutely pretty in a light green Kurti teamed with a white palazzo and heels. She was sporting a face mask and the young starlet decided to remove it as she posed for the shutterbugs. She was all smiles for the cameras. Here, take a look at the pictures:

Alaya F (3).

Alaya F (1).

Alaya F (4).

Alaya F (2).

Meanwhile, Alaya who made her debut in ‘Jawaani Jaaneman’ starring Saif Ali Khan and Tabu, turned a year last month. The diva took to her Instagram handle to share an alluring picture of herself from her 23rd birthday bash.

Also, apart from her work, the young actress is often in the news of late for her rumoured relationship with Smita Thackeray’s son and Balasaheb Thackeray‘s grandson Aishvary Thackeray.

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Last-place New York Liberty win WNBA draft lottery for 2nd straight year

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Last-place New York Liberty win WNBA draft lottery for 2nd straight year

The New York Liberty have the No. 1 pick in the WNBA draft for the second consecutive year, winning the lottery Friday.

The Liberty had the best chance to win the lottery at 44.2 per cent. Atlanta was second at 27.6 per cent. Dallas third 17.8 per cent and Indiana fourth at 10.4 per cent. The WNBA determines its percentages on the two-year record of the four participants.

Unlike last season when New York took Sabrina Ionescu with the top pick, there is no clear-cut consensus choice as the No. 1 this year with a host of talented seniors, including Louisville’s Dana Evans, UCLA’s Michaela Onyenwere, Arizona’s Aari McDonald and Tennessee’s Rennia Davis leading the way.

It could get more complicated though as the NCAA granted all basketball players an extra season of eligibility because of COVID-19 so all four could decide to go back to school next year.

WATCH | Liberty win lottery:

New York Liberty wins the WNBA Draft Lottery for the 2nd year in a row and will select 1st overall in the 2021 draft 1:07

Dallas will pick second with Atlanta third and Indiana fourth. The Dallas franchise has been in the draft lottery 10 times now and has never received the first pick — a WNBA record. The Wings also will have a new coach next spring as Vickie Johnson has agreed in principle to take over a person familiar with the situation said Thursday. She replaces Brian Agler, who was fired in October.

Johnson has been an assistant for the Las Vegas Aces after serving as the team’s head coach for the franchise’s final season in San Antonio in 2017. The person spoke to The Associated Press Thursday on condition of anonymity to the AP because no announcement of Johnson’s hiring has been made.

Johnson and Dallas will have three of the first seven picks as the Wings also hold the fifth pick and seventh pick through trades made over the last few years. Phoenix has the sixth pick. Chicago, Minnesota, Los Angeles, Seattle and Las Vegas close out the first round.

The lottery teams were the same as last season.

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Radhakrishnan Nair appointed as chief coach of Indian athletics – other sports

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Radhakrishnan Nair appointed as chief coach of Indian athletics – other sports

Athletics Federation of India (AFI) on Friday appointed the vastly experienced Radhakrishnan Nair as its full-time chief coach, filling the post left vacant after the resignation of Bahadur Singh in July.

The 62-year-old Nair was the acting chief coach of Indian athletics since then.

AFI President Adille Sumariwalla expressed confidence that Nair will be able to guide Indian athletes to greater heights. “We are happy we will be able to maintain continuity of our planning since Radhakrishnan has been the deputy chief coach for seven years now,” he said in an AFI release.

Nair, who is also a certified Technical Official and World Athletics Level-5 coach, has been instrumental in enhancing the coaches education system in India. He is the first Indian to have an International Coaching Enrichment Programme Certificate of the International Olympic Committee.

“We are particularly pleased that his ideas of implementation of modern coaching methods and the use of sports science in the development of young athletes have worked well,” Sumariwalla said.

“At the AFI, we believe he will also continue to work towards improving the standard of coaching across the country, especially at the grass-roots level, with his stress against early specialisation and over-training.” Nair’s appointment as chief coach has been endorsed by the Sports Authority of India, the AFI said.

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Joe Biden officially secures enough electors to become president – world news

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Joe Biden officially secures enough electors to become president – world news

California certified its presidential election Friday and appointed 55 electors pledged to vote for Democrat Joe Biden, officially handing him the Electoral College majority needed to win the White House.

Secretary of State Alex Padilla’s formal approval of Biden’s win in the state brought his tally of pledged electors so far to 279, according to a tally by The Associated Press. That’s just over the 270 threshold for victory.

These steps in the election are often ignored formalities. But the hidden mechanics of electing a U.S. president have drawn new scrutiny this year as President Donald Trump continues to deny Biden’s victory and pursues increasingly specious legal strategies aimed at overturning the results before they are finalized.

Although it’s been apparent for weeks that Biden won the presidential election, his accrual of more than 270 electors is the first step toward the White House, said Edward B. Foley, a law professor at Ohio State University.

“It is a legal milestone and the first milestone that has that status,” Foley said. “Everything prior to that was premised on what we call projections.”

The electors named Friday will meet Dec. 14, along with counterparts in each state, to formally vote for the next president. Most states have laws binding their electors to the winner of the popular vote in their state, measures that were upheld by a Supreme Court decision this year. There have been no suggestions that any of Biden’s pledged electors would contemplate not voting for him.

Results of the Electoral College vote are due to be received, and typically approved, by Congress on Jan. 6. Although lawmakers can object to accepting the electors’ votes, it would be almost impossible for Biden to be blocked at that point.

The Democratic-controlled House and Republican-controlled Senate would both vote separately to resolve any disputes. One already has arisen from Pennsylvania, where 75 Republican lawmakers signed a statement on Friday urging Congress to block the state’s electoral votes from being cast for Biden. But the state’s Republican U.S. senator, Pat Toomey, said soon afterward that he would not be objecting to Pennsylvania’s slate of electors, underscoring the difficulty in trying to change the election results through Congress.

“As a practical matter, we know that Joe Biden is going to be inaugurated on Jan. 20,” Foley said.

That was clear in the days after the election, when the count of mail ballots gradually made clear that Biden had won victories in enough states to win the Electoral College. It became even more apparent in late November, when every swing state won by Biden certified him as the winner of its elections and appointed his electors to the Electoral College. Trump has fruitlessly tried to stop those states from certifying Biden as the winner and appointing electors for the former vice president.

He made no effort in deeply Democratic California, the most populous state in the nation and the trove of its largest number of electoral votes. Three more states won by Biden — Colorado, Hawaii and New Jersey — have not yet certified their results. When they do, Biden will have 306 Electoral College votes to Trump’s 232.

Trump and his allies have brought at least 50 legal cases trying to overturn the results in the swing states Biden won — mainly Arizona, Georgia, Michigan, Pennsylvania and Wisconsin. More than 30 have been rejected or dropped, according to an AP tally.

Trump and his allies have also raised the far-fetched notion that Republican state legislatures in those states could appoint a rival set of electors pledged to Trump.

But state Republican leaders have rejected that approach, and it would likely be futile in any case. According to federal law, both chambers of Congress would need to vote to accept a competing slate of electors. If they don’t, the electors appointed by the states’ governors — all pledged to Biden in these cases — must be used.

The last remaining move to block the election would be the quixotic effort to vote down the electors in Congress.

This tactic has been tried — a handful of congressional Democrats in 2000, 2004 and 2016 objected to officially making both George W. Bush and Trump president. But the numbers were not enough to block the two men from taking office.

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Don Cheadle slams Marvel co-star Letitia Wright for sharing anti-vaccine video: ‘I would never defend anybody posting this’ – hollywood

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Don Cheadle slams Marvel co-star Letitia Wright for sharing anti-vaccine video: ‘I would never defend anybody posting this’ – hollywood

Black Panther actor Letitia Wright attracted controversy after sharing a video questioning the effectiveness of a potential coronavirus vaccine, and vaccines generally. The ensuing backlash also included a takedown by her Marvel Cinematic Universe co-star Don Cheadle, who said that he would take the conversation offline.

Letitia, best known for playing T’Challa’s sister Shuri in the MCU, a character that will reportedly take a more central role in the Black Panther franchise’s future, on Thursday tweeted a video from On The Table, a YouTube discussion channel. The presenter of the video spoke about the Covid-19 vaccine, and cast doubt over its efficacy. “I don’t understand vaccines medically, but I’ve always been a little bit of a sceptical of them,” he said.

 

Reacting to the backlash that followed, she tweeted, “If you don’t conform to popular opinions. but ask questions and think for yourself….you get cancelled.” She also responded to several Twitter users who criticised her decision to share the video.

Her MCU co-star Don Cheadle was tagged into conversations around the subject, and said that he would take the matter up with her personally. “…I’ll personally take it to her if she said something crazy. Not to Twitter. That’s how I do it with friends and how I hope they do it with me if I fkkk up. Trying to find it now,” he said, about trying to find her original tweet, and the video she shared.

 

He followed up and wrote, “Jesus… Just scrolled through. Hot garbage. Every time I stopped and listened, he and everything he said sounded crazy and fkkkd up. I would never defend anybody posting this. But I still won’t throw her away over it. The rest I’ll take off Twitter. Had no idea.”

Also read: Don Cheadle says he had two hours to decide if he wanted Marvel role after Terrence Howard was fired after Iron Man

This week, former US presidents Barack Obama, George W Bush and Bill Clinton all agreed to get themselves vaccinated for the coronavirus, in an effort to boost public faith in the vaccine. President-elect Joe Biden has already said that the vaccine will be made available to every American, free of cost.

Follow @htshowbiz for more



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Stan Swamy gets straw, sipper in jail, files fresh plea seeking his bag

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Stan Swamy gets straw, sipper in jail, files fresh plea seeking his bag

Swamy, 83, on Friday filed three fresh applications seeking a direction to the National Investigation Agency (NIA) to return his bag, a copy of his hard disk and a direction to not transfer him from Taloja jail.

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