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UPDATE 1-Schindler earnings beat estimates on China recovery


By Reuters Staff
(Adds additional details, CEO quote)
Feb 17 (Reuters) - Swiss elevator and escalator manufacturer Schindler expects its 2021 revenue to grow in a range of 0% to 5%, after posting fourth-quarter earnings slightly above estimates as an economic recovery in China offset pandemic hit and foreign currency effects.
The company said on Wednesday net profit reached 226 million Swiss francs ($253 million) in the October-December period, beating the average analyst expectations of 222 million francs in a company-provided poll.
“We introduced a series of measures to enhance our competitiveness, as some of the key markets have been experiencing a contraction and are not likely to return to 2019 levels before 2022 at the very earliest,” Chief Executive Officer Thomas Oetterli said. ....

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Neanderthal Child's Tooth Found in Palestinian Cave Tells A Tale of Africa


Neanderthal Child’s Tooth Found in Palestinian Cave Tells A Tale of Africa
A team of archaeologists from the Max Planck Institute recently reexamined a set of artifacts recovered from the Shuqba Cave, which included a Neanderthal child’s tooth. It is the first evidence that Neanderthals made it that far south and makes it highly possible that Neanderthals could have reached Africa.
The Shuqba Cave is located in the Hebron Hills of the Palestinian West Bank, 17 miles (28 kilometers) northwest of Jerusalem. The artifact collection from the cave was held at the Natural History Museum in London and was comprised primarily of an assortment of stone tools manufactured using Nubian Levallois reduction techniques, which were allegedly developed by Homo sapiens (modern humans) in the Late Middle Paleolithic period (70,000 BC to 50,000 BC). ....

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UPDATE 1-Draghi effect to drive surge in Italy's financial markets - Morgan Stanley


(Adds quotes, detail, background)
LONDON, Feb 17 (Reuters) - Mario Draghi’s appointment as Italy’s prime minister will provide a big boost to the country’s financial markets, Morgan Stanley said on Wednesday, predicting a major improvement in the country’s closely-watched bond spreads and a double-digit outperformance by its stock market.
Draghi, a former European Central Bank chief feted in Italian media as a national saviour, promised sweeping reforms to help rebuild Italy in a speech to the Senate on Wednesday ahead of a mandatory confidence vote in his government of national unity.
Morgan Stanley said the halo effect would narrow the BTP bond spread - the premium investors demand to hold Italian government bonds rather than AAA-rated German debt - to 85 basis points by June from its current 90 bps spread. In an optimistic case, it could fall to 55 bps before the end of the year. ....

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