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The Student News Site of Northern Illinois University

Northern Star
The Student News Site of Northern Illinois University

Northern Star

Iran reports another death, 10 new cases of new coronavirus

February 22, 2020

TEHRAN, Iran (AP) — Iranian health authorities on Saturday reported a fifth death from the new virus that emerged in China, and said the fatality was from among 10 new confirmed cases of the virus in Iran.So far, 28 cases have been confirmed in Iran,...

Outbreak, economic ills dim luster of Japan’s Olympic year

By MARI YAMAGUCHI and ELAINE KURTENBACH | February 21, 2020

TOKYO (AP) — Prime Minister Shinzo Abe should be basking in the limelight this year in the run-up to the 2020 Tokyo Olympics. Instead, the virus outbreak that has spread from China to even remote parts of Japan has Abe and his ruling Liberal Democratic...

Deere sees some stability on farms in bruising trade fight

By MICHELLE CHAPMAN | February 21, 2020

Deere had a surprisingly strong first quarter after an extended period in which it was bruised by the ongoing trade war between the United States and China.

“Farmer confidence, though still subdued, has improved due in part to hopes for a relaxation of trade tensions and higher agricultural exports,” CEO John May said in a prepared statement Friday.

China announced Friday that it suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington. Under their “Phase 1” agreement signed in January, Washington agreed to cancel additional tariff hikes and Beijing committed to buy more American farm exports.

China's retaliatory tariffs have clobbered exports of soybeans and other commodities, hurting farmers, and in turn, farming equipment manufacturers.

The Trump administration has provided $27 billion in aid to farmers to ease the pain of his trade war. And in a tweet Friday, he promised to expand the bailout if farmers need it as they await the economic benefits of his recent trade deals with Mexico, Canada and China. He said the aid would be financed by revenue from his tariffs on foreign goods — taxes that are paid by American importers.

Deere, based in Moline, Illinois, has posted three consecutive quarters of falling profits and slowing sales growth with trade tensions between the world's two largest economies ongoing.

For the three months ended Feb. 2, Deere & Co. earned $517 million, or $1.63 per share. The per-share earnings easily beat the $1.28 that industry analysts had expected, according to a survey by Zacks Investment Research, and it topped last year's quarterly profit of $498 million, or $1.54 per share.

Adjusted revenue —which excludes financial services revenue— was $6.53 billion, also beating Wall Street's estimate of $6.2 billion.

The quarterly performance is in contrast to a year ago, when Deere cautioned on anxious farmers and rising costs.

Looking ahead, the companystill foresees fiscal 2020 earnings of $2.7 billion to $3.1 billion,unchanged from its previous guidance.

Shares of Deere & Co. jumped more than 6% at the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DE at https://www.zacks.com/ap/DE

Trump signals he’s prepared to give farmers more federal aid

By KEVIN FREKING | February 21, 2020

WASHINGTON (AP) — President Donald Trump signaled Friday that he’s prepared to tap federal coffers again to help farmers suffering from the tariff fights that he initiated.The Trump administration over the past two years has committed to providing...

South Korea becomes newest front in shifting virus outbreak

By HYUNG-JIN KIM and MATT SEDENSKY | February 21, 2020

SEOUL, South Korea (AP) — Cases of a new virus swelled Friday in South Korea, making the country the newest front in a widening global outbreak centered in China and now reverberating elsewhere.South Korea said two people have died and 204 have been...

Fed officials downplay virus even as markets see rate cuts

By CHRISTOPHER RUGABER | February 21, 2020

WASHINGTON (AP) — When Wall Street expects the Federal Reserve to cut interest rates, should that influence the Fed's decisions?Two Fed officials diverged on that issue in remarks Friday at a monetary policy conference in New York. The disagreement...

Stocks sink, Treasury prices soar as investors seek safety

By ALEX VEIGA | February 21, 2020

Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.The yield on the 30-year Treasury reached a record low as investors sought the safety...

US virus cases climb to 35 with return of cruise passengers

By CARLA K. JOHNSON | February 21, 2020

At least 18 Americans who returned home from a quarantined cruise ship are infected with the new virus, bringing the number of cases in the U.S. to 35, health officials said Friday.More confirmed cases are likely among the returned passengers from the...

Iranians vote in parliament elections favoring conservatives

By NASSER KARIMI | February 21, 2020

TEHRAN, Iran (AP) — Iranians voted for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and U.S. pressure isolates the country diplomatically.The disqualification of more...

Italy’s virus cases more than quadruple as cluster emerges

By LUCA BRUNO and NICOLE WINFIELD | February 21, 2020

CODOGNO, Italy (AP) — The number of people in Italy infected with the new virus from China more than quadrupled Friday due to an emerging cluster of cases in the country's north that prompted officials to order schools, restaurants and businesses to...

Iran reports 2 more deaths, 13 new cases of new coronavirus

By NASSER KARIMI | February 21, 2020

TEHRAN, Iran (AP) — Iranian health authorities Friday reported two more deaths from the new virus that emerged in China and said the fatalities were from among 13 new confirmed cases of the virus in Iran.The report by the semiofficial Mehr news agency...

China’s leaders say nation yet to turn corner in virus fight

By KEN MORITSUGU | February 21, 2020

BEIJING (AP) — China's leadership sounded a cautious note Friday about the country's progress in halting the spread of the new virus that has now killed more than 2,200 people, after several days of upbeat messages.The Politburo, made up of the senior...

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