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LOS ANGELES (Reuters) - Viacom Inc on Tuesday said it will stop airing reruns of ABC’s original “Roseanne” after the network canceled the top-rated series following racist tweets by its star Rosesanne Barr, a company spokesman said.
FILE PHOTO: Actress Roseanne Barr waves on her arrival to the 75th Golden Globe Awards in Beverly Hills, California, U.S., January 7, 2018. REUTERS/Mario Anzuoni/File Photo Viacom’s Paramount, TV Land and CMT cable networks had been broadcasting episodes of the original 1990s “Roseanne.”
Reporting by Eric Kelsey; editing by Bill Tarrant
| ashraq/financial-news-articles | https://www.reuters.com/article/us-television-roseanne-reruns/viacom-cable-networks-will-stop-airing-reruns-of-abcs-roseanne-spokesperson-idUSKCN1IU2S2 |
May 1, 2018
Happy Tuesday, readers. This is Sy.
A former top ranking government official had this to say about the recent repeal of Obamacare’s controversial individual mandate requiring most Americans to carry health insurance or pay a tax penalty on Tuesday: “There are many, and I am one of them, who believes that that actually will harm the pool in the exchange market because you’ll likely have individuals who are younger and healthier not participating in that market. And, consequently, that drives up the cost for other folks in that market.”
But the speaker wasn’t some Obama administration veteran lashing out at the individual mandate repeal (which was tucked into the massive tax law passed by Congress and signed by President Donald Trump last year ), a critical component of the health law. It was Trump’s own recent, former Department of Health and Human Services (HHS) Secretary Tom Price, a longtime Obamacare foe with a history of scorching criticism about the individual mandate.
Price was speaking at the World Health Care Congress conference in Washington, D.C. when he delivered the surprising remarks. It’s a sharp contrast to what he’s said before about the individual mandate , including during his short-lived tenure as HHS Secretary (which was cut short following a scandal over Price’s lavish air travel proclivities ).
“Well, the individual mandate is one of those things that actually is driving up the cost for the American people in terms of coverage,” Price told ABC News’ Martha Raddatz in an interview last July . “So what we’re trying to do is make it so Obamacare is no longer harming the patients of this land. No longer driving up costs. No longer making it so they’ve got coverage, but no care. And the individual mandate is one of those things.” Price had made numerous similar arguments prior to that interview and used his time leading HHS to weaken enforcement of Obamacare’s individual mandate through his administrative powers.
It’s unclear what exactly fostered this change of heart by the former HHS Secretary. But independent organizations like the Congressional Budget Office (CBO) agree with Price’s newfound assessment, projecting that the mandate repeal will ultimately cause 13 million people to lose health coverage and premium spikes of about 10% relative to current law.
Read on for the day’s news. Sy Mukherjee @the_sy_guy DIGITAL HEALTH
Fitbit extends health care ambitions with Google partnership. Fitbit made waves on Monday, announcing a new deal with Google that could significantly boost the device maker’s forays into health care. As Fitbit CEO James Park tells me (more on that conversation later), the partnership provides access to Google’s new Healthcare API, which complies with federal standards such as HIPAA and could eventually allow consumers to access their combined health record data straight from their devices. ( Fortune )
FDA approves Medtronic deep brain stimulation device for epilepsy. The Food and Drug Administration (FDA) has given the green light to Medtronic’s Deep Brain Stimulation (DBS) therapy, which can be used to help epilepsy patients who don’t respond well to their anti-seizure medications. “Many patients in the United States with severe epilepsy are not able to control their seizures with currently-available drugs and are not candidates for potentially curative surgery,” Robert Fisher, director of the Stanford Epilepsy Center at Stanford University, said in a release. ( Medscape ) Advertisement INDICATIONS
Sanofi, Regeneron slash next-gen cholesterol drug’s price in Express Scripts deal. French drug giant Sanofi and partner Regeneron have struck a deal with pharmacy benefits management firm Express Scripts to drastically slash the price of a new kind of cholesterol drug that originally cost more than $14,000 listed. The deal will make the treatment, Praluent (which has proven to cut “bad” cholesterol levels by 60% in clinical trials) available for between $4,500 and $8,000. The move is likely motivated by lackluster sales for the clinically vaunted therapy, and growing pricing pushback from payers like Express Scripts. ( Fortune ) THE BIG PICTURE
Young Americans are pretty lonely, study says. A large new survey by insurer Cigna finds that more than half of Americans, and especially young people, feel lonely. Strikingly, Generation Z are actually hit harder by loneliness (including the absence of companionship or feeling isolated from other people) than the social media frenzied Millennial cohort, according to the study. ( Fortune )
Five healthy habits can help you live longer. One is especially important. Harvard researchers say that five healthy and seemingly obvious habits are associated with a significantly longer life (good diet, good exercise, a healthy BMI, etc). But one sticks out in particular: Forgoing smoking altogether. Which shouldn’t be all that surprising given that smoking and tobacco use is associated with the top three killers of Americans (heart disease, cancer, and the respiratory disease COPD). ( Fortune ) Advertisement REQUIRED READING | ashraq/financial-news-articles | http://fortune.com/2018/05/01/brainstorm-health-daily-05-01-18/ |
TORONTO—Canada’s two largest banks are weathering a recent cooling of the country’s housing market.
Both Royal Bank of Canada and Toronto Dominion Bank reported second-quarter earnings on Thursday, showing growth in mortgages and low reserves for potential loan losses, even as recent housing data show a drop in starts and prices nationwide.
“Notwithstanding... | ashraq/financial-news-articles | https://www.wsj.com/articles/rbc-and-td-show-mortgage-strength-amid-monetary-and-regulatory-changes-1527193992 |
BOSTON--(BUSINESS WIRE)-- American Tower Corporation (NYSE: AMT) announced that its board of directors has declared its quarterly cash distribution of $0.77 per share on shares of the Company’s common stock. The distribution is payable on July 13, 2018 to such stockholders of record at the close of business on June 19, 2018.
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 160,000 communications sites. For more information about American Tower, please visit www.americantower.com .
Cautionary Language Regarding Forward-Looking Statements
This press release contains “forward-looking statements” concerning the Company’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in the Company’s forward-looking statements as a result of various factors, including those factors set forth in Item 1A of its Form 10-K for the year ended December 31, 2017 under the caption “Risk Factors.” The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180524006156/en/
American Tower Corporation
Igor Khislavsky, 617-375-7500
Senior Director, Investor Relations
Source: American Tower Corporation | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/24/business-wire-american-tower-corporation-declares-quarterly-distribution.html |
May 10 (Reuters) - resTORbio, Inc.:
* Q1 LOSS PER SHARE $0.46 * Q1 EARNINGS PER SHARE VIEW $-0.26 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-restorbio-reports-q1-loss-per-shar/brief-restorbio-reports-q1-loss-per-share-0-46-idUSASC0A1IX |
0 COMMENTS It is less of a surprise that consumer spending is strengthening than that it isn’t even stronger.
Overall retail sales rose 0.3% in April from a month earlier, the Commerce Department reported Tuesday, continuing to pick up after a sluggish start to the year. Sales excluding autos, gasoline, building materials and food services—which economists watch as an indicator of trends in consumer spending—was up 0.4%.
That counts as good news for economy. Consumer spending grew at just a 1.1% annual rate in the first quarter, marking its weakest gain in over five years, but the second quarter is shaping up to be much better. It is becoming clear that the consumer weakness earlier this year was due to temporary factors such as a hangover from a hurricane-related pickup in fourth-quarter spending.
Many good things are happening for consumers. The unemployment rate, at 3.9%, is at its lowest level since 2000, a fresh round of minimum-wage increases went into effect earlier this year, the government is spending more, tax cuts are putting more money in many people’s pockets and consumer sentiment measures are showing that Americans are in a pretty good mood.
What’s more, if even just a small portion of corporate tax cuts starts to flow through into higher wages and more hiring, the backdrop for consumers ought to get even better. The only major drag consumers are experiencing right now is that rising gasoline prices are putting cash in the tank that might be spent elsewhere.
It may just be a matter of time before spending moves into an even higher gear. There is one potential fly in the ointment though: the money flowing into consumers’ pockets might not all flow out. The saving rate did improve during the first-quarter spending lull, but it is still low. Ten years after the financial crisis, it is hard for American consumers to completely throw caution to the wind as their incomes improve.
That wouldn’t necessarily be a bad thing, but the days when consumer spending could really rip may be behind us.
Write to Justin Lahart at [email protected] | ashraq/financial-news-articles | https://www.wsj.com/articles/giddy-consumer-where-art-thou-1526398595 |
May 21, 2018 / 2:35 PM / Updated 2 hours ago Ageing defence and off-form players are a worry for Portugal Reuters Staff 3 Min Read
LISBON (Reuters) - Portugal’s Cristiano Ronaldo shows no signs of flagging as he approaches his mid-30s but there are plenty of other worries for a team with an ageing central defence and a number of players struggling for form. Soccer Football - FIFA World Cup - Portugal Coach Fernando Santos Press Conference- Oeiras, Portugal - May 17, 2018 Portugal Coach Fernando Santos during the press conference REUTERS/Pedro Nunes
Dour and pragmatic, Portugal will also have to carry the high expectations that come with being European champions and boasting one of the world’s two best players.
Coach Fernando Santos said before their March friendlies against Egypt and the Netherlands that it was proving much more difficult to assemble his squad for the World Cup in Russia than it had been two years ago before Euro 2016.
Many of those who played a key role in that triumphant campaign have lost their way at club level.
Renato Sanches, who commanded the midfield in the knockout stages with a confidence that belied his 18 years, barely played after joining Bayern Munich for the subsequent season and a loan move to Swansea City has not worked out either.
Injuries and a continued lack of form have badly affected his confidence and he is highly unlikely to be selected for the squad to go to the finals.
Adrien Silva missed the first four months of the English Premier League season because his move from Sporting to Leicester City was not registered in time.
Andre Gomes has barely featured at Barcelona and Joao Mario has been loaned to struggling West Ham United after losing his place in the Inter Milan team. Related Coverage Factbox - Portugal World Cup
Eder, unlikely scorer of the winning goal in the Euro 2016 final, is playing at Lokomotiv Moscow and, like Sanches, appears to be out of Santos’s plans.
The defence, meanwhile, are still heavily dependent on pantomime villain Pepe who is now 35 and playing in Turkey rather than at Real Madrid. The Brazilian-born player suffered a broken toe in March but is already back in action.
Rolando and Jose Fonte, also in their 30s, were all over the place as Portugal lost 3-0 to the Dutch in their last friendly.
Bruno Alves is also well into his 30s, leaving Luis Neto as the only central defender under 30 with international experience.
It would be wrong to write off Portugal, however. Ronaldo is as dangerous as ever — as he showed by blasting 15 goals in the qualifiers.
With players such as William Carvalho, Joao Moutinho and Bernardo, there is plenty of talent elsewhere in the squad and, under Santos, Portugal have made an art form out of grinding out 1-0 wins
It is also worth bearing in mind their formidable record —under Santos Portugal have lost only one out of 29 competitive internationals. Writing by Brian Homewood; Editing by Ken Ferris | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-worldcup-por-prospects/ageing-defence-and-off-form-players-are-a-worry-for-portugal-idUKKCN1IM1KN |
BEIJING, May 17 (Reuters) - China’s Vice Premier Liu He said China was proactively seeking appropriate resolutions on the trade dispute with the United States during his visit of Washington, official Xinhua News Agency reported on Thursday.
Liu He said during his meetings in Washington with former U.S. Secretary of State Henry Kissinger as well as current U.S. lawmakers that healthy Sino-U.S. relations are in line with the interests of both countries and that Beijing and Washington should properly handle the trade dispute with mutual respect and aim for mutually beneficial outcomes, according to Xinhua.
Liu and other senior Chinese officials are visiting Washington for the second round of trade negotiatons. (Reporting by Se Young Lee and Fang Cheng; Editing by Michael Perry)
| ashraq/financial-news-articles | https://www.reuters.com/article/usa-trade-china-washington/china-vice-premier-says-proactively-seeking-resolutions-on-trade-dispute-with-u-s-xinhua-idUSS6N1S201G |
May 2 (Reuters) - LHC Group Inc:
* Q1 ADJUSTED EARNINGS PER SHARE $0.63 * Q1 EARNINGS PER SHARE VIEW $0.60 — THOMSON REUTERS I/B/E/S
* FY 2018 NET SERVICE REVENUE IS EXPECTED TO BE IN A RANGE OF $1.81 BILLION TO $1.86 BILLION
* FY 2018 ADJUSTED EARNINGS PER DILUTED SHARE IS EXPECTED TO BE IN A RANGE OF $3.45 TO $3.55
* QTRLY NET SERVICE REVENUE INCREASED 19.2% TO $291.1 MILLION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-lhc-group-q1-earnings-per-share-02/brief-lhc-group-q1-earnings-per-share-0-28-idUSASC09Z7H |
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Rayonier Advanced Materials Inc. (NYSE:RYAM) announced today that the Company’s board of directors has declared a second quarter cash dividend of $0.07 per share of Common Stock of the Company. The dividend is payable on June 29, 2018 to stockholders of record on June 15, 2018.
About Rayonier Advanced Materials
Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in cell phones, computer screens, filters and pharmaceuticals. The Company also manufactures products for lumber, paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs approximately 4,200 people and generates approximately US$2 billion of pro forma revenues. More information is available at www.rayonieram.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180522006074/en/
Rayonier Advanced Materials Inc.
Media: Randy Houck, 904-357-9134
Investors: Mickey Walsh, 904-357-9162
Source: Rayonier Advanced Materials Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/business-wire-rayonier-advanced-materials-announces-second-quarter-2018-dividend-on-common-stock.html |
Student, teacher killed in NJ school bus crash 01:40
New Jersey Governor Phil Murphy says one adult and one student were killed when a school bus collided with a dump truck on a highway in New Jersey on Thursday. Rough Cut (no reporter narration).
New Jersey Governor Phil Murphy says one adult and one student were killed when a school bus collided with a dump truck on a highway in New Jersey on Thursday. Rough Cut (no reporter narration). //reut.rs/2ItxXIB | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/17/student-teacher-killed-in-nj-school-bus?videoId=427857995 |
BANGKOK (Thomson Reuters Foundation) - A Myanmar court has found 33 farmers living next to a Special Economic Zone guilty of criminal trespass, a ruling seen by activists as a blow to land rights in a country with a rising demand for property for industrial use.
The farmers said the government did not follow the legal process when it tried to acquire their land adjacent to the Thilawa SEZ in 1996, and that they continued to farm the land and pay taxes on it.
They were charged with criminal trespass in 2014.
Lawyers for the farmers argued that the charges had no basis, as the government did not begin the formal legal process to acquire the land until 2015, a year after the trespassing complaint was made.
“Today’s ruling represents a blow to the land rights of farmers across Myanmar,” said Ben Hardman, a deputy legal director at advocacy group EarthRights International.
The farmers have 60 days to file an appeal, and are considering whether to do so, he said.
About 70 percent of Myanmar’s population lives in rural areas and depends on agriculture for a living.
Few farmers in Myanmar have formal documents for their land. But even titles do not provide adequate protection, and people are frequently forced off of their farms without proper legal process or compensation, activists say.
Disputes over land have increased significantly since the easing of political and economic restrictions began in 2011. The reforms led to a rush of foreign investments and greater demand for land for industrial use.
Government officials say projects including mining, hydropower and large-scale agriculture are essential for development in one of the world’s poorest countries.
The Thilawa SEZ, in the country’s south, is the first SEZ project developed by the Myanmar government, and covers about 600 hectares.
The government recently introduced a national land-use policy to give farmers more rights, and has adopted dispute resolution mechanisms.
But transactions are often characterized by a lack of consultation and consent from affected communities, inadequate compensation, the absence of a resettlement policy and a lack of judicial remedies, activists say.
Alongside, arrests and prosecution of protesters and land activists have risen.
The reforms “offer little or no protections to tenant farmers and do not protect customary land use,” Hardman said.
“Worryingly, a series of proposed amendments actually increases both the scope of criminal offences and the length of sentences that farmers could be given,” he told the Thomson Reuters Foundation.
Reporting by Rina Chandran @rinachandran. Editing by Jared Ferrie. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, property rights, climate change and resilience. Visit news.trust.org to see more stories.
Our | ashraq/financial-news-articles | https://www.reuters.com/article/us-myanmar-landrights-court/myanmar-court-convicts-farmers-of-trespass-in-blow-to-land-rights-idUSKBN1I81X2 |
TEMPE, Ariz., May 2, 2018 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production equipment and related supplies for the solar , semiconductor, and LED markets, today announced that it will host a conference call to discuss the Company's financial results for the second quarter ended March 31, 2018 on Thursday, May 10, 2018 at 5:00 pm ET.
Executive Chairman, J.S. Whang; President and CEO, Fokko Pentinga; and CFO, Robert Hass will discuss financial results and take questions following the prepared remarks.
The dial-in details for the live conference are as follows:
USA toll free: 1-844-868-9329 Canada toll free: 1-866-605-3852 International: 1-412-317-6703
A live webcast of the conference call will be available in the investor relations section of the Company's website at: http://www.amtechsystems.com
A telephone replay will be available 1 hour after the end of the conference through May 17, 2018 at 9:00am ET. The dial-in details for the replay are as follows:
USA toll free: 1-877-344-7529 International: 1-412-317-0088 Conference code: 10119630
About Amtech Systems, Inc.
Amtech Systems, Inc. is a global supplier of advanced thermal processing equipment to the solar, semiconductor / electronics, and LED manufacturing markets. Amtech's equipment includes diffusion, ALD and PECVD systems and solder reflow systems. Amtech also supplies wafer handling automation and polishing equipment and related consumable products. The Company's wafer handling, thermal processing and consumable products currently address the diffusion, oxidation, and deposition steps used in the fabrication of solar cells, LEDs, semiconductors, MEMS, printed circuit boards, semiconductor packaging, and the polishing of newly sliced sapphire and silicon wafers. Amtech's products are recognized under the leading brand names Tempress Systems TM , Bruce Technologies TM , PR Hoffman TM , R2D Automation TM , SoLayTec, and BTU International.
Contacts:
Amtech Systems, Inc.
Robert Hass
Chief Financial Officer
(480) 967-5146
[email protected]
Or
Christensen
Investor Relations
Patty Bruner
(480) 201-6075
[email protected]
View original content: http://www.prnewswire.com/news-releases/amtech-systems-to-announce-second-quarter-financial-results-on-may-10-2018-300640955.html
SOURCE Amtech Systems, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/pr-newswire-amtech-systems-to-announce-second-quarter-financial-results-on-may-10-2018.html |
May 15, 2018 / 9:32 PM / Updated 2 hours ago U.S. judge refuses to dismiss ex-Trump aide Manafort's criminal case Sarah N. Lynch 4 Min Read
WASHINGTON (Reuters) - A federal judge dealt President Donald Trump’s former campaign manager Paul Manafort a major blow on Tuesday by refusing to dismiss criminal charges brought by Special Counsel Robert Mueller, after Manafort claimed that Mueller’s probe has run amok and should be reined in. Former Trump campaign manager Paul Manafort leaves a U.S. District Court after attending a motions hearing in Washington, D.C., U.S. April 19, 2018. REUTERS/Carlos Barria
In a sharp rebuke of those claims, Judge Amy Berman Jackson of U.S. District Court for the District of Columbia ruled that Deputy Attorney General Rod Rosenstein had followed all the Justice Department’s rules when he hired Mueller and Mueller’s case against Manafort is not overly broad or improper.
Rosenstein “expressly approved the Special Counsel’s investigation of the facts alleged in the indictment, so there has been no violation of the regulations, and the Special Counsel did not act without authority,” wrote Jackson, who was appointed by Democratic President Barack Obama.
In response to the ruling, Manafort spokesman Jason Maloni said: “Paul Manafort maintains his innocence and looks forward to prevailing in this matter.” A spokesman for the Special Counsel declined to comment.
Manafort, who performed lobbying work for a pro-Russian former Ukrainian president before serving as Trump’s campaign chairman in 2016, is facing two indictments brought by Mueller in federal courts in Washington and Alexandria, Virginia.
The charges against him in the Washington case include conspiring to launder money, conspiring to defraud the United States and failing to register as a foreign agent. In Virginia, he faces charges that include bank fraud and filing false tax returns.
He has pleaded not guilty to all of the charges, none of which are directly related to work he performed for Trump’s campaign.
In both criminal cases, Manafort has asked the courts to dismiss the charges on the grounds that Rosenstein’s May 17, 2017 appointment order hiring Mueller runs afoul of Justice Department rules on special counsels.
He has also argued that Mueller’s case against him has nothing to do with Russian interference in 2016 election, and that the probe by the FBI into his Ukraine dealings predates the Russia probe.
Trump has denied that his campaign colluded with Russia and called the probe that has dogged his presidency a “witch hunt.”
Jackson was not moved by any of Manafort’s assertions.
“Manafort was, at one time, not merely ‘associated with,’ but the chairman of, the Presidential campaign, and his work on behalf of the Russia-backed Ukrainian political party and connections to other Russian figures are matters of public record,” she wrote, adding that it was “logical” for investigators to probe Manafort’s dealings.
Her ruling also pointed to an August 2017 memo by Rosenstein that further detailed the scope of the probe. That memo explicitly gave Mueller authority to probe all of Manafort’s Ukraine-related work predating the 2016 campaign.
Republicans in the House of Representatives who are critical of the Mueller probe have pressed the Justice Department in recent months to provide them with an unredacted copy of the August memo.
The ruling marks a setback for Manafort, who last month was buoyed when the judge in the Alexandria case aggressively questioned prosecutors about whether their case was overly broad and mused that he believed they were using the charges to get Manafort to turn over dirt on Trump.
That judge, T.S. Ellis III for the Eastern District of Virginia, has yet to rule on whether to dismiss the charges against Manafort.
Ellis, who was appointed to the bench by Republican President Ronald Reagan, has also said he too wants to see an unredacted copy before he can fully form a decision on whether to dismiss the charges.
He told prosecutors to turn over a copy to him by Friday. Reporting by Sarah N. Lynch; editing by Tom Brown and Cynthia Osterman | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-trump-russia/u-s-judge-refuses-to-dismiss-ex-trump-aide-manaforts-criminal-case-idUKKCN1IG3AV |
The NBA has expanded its international presence during the last few decades — the teams had a record number of international players competing in the 2018 NBA playoffs and the league has won millions of new fans across the globe.
From a business perspective, the league has already had success in Asia: China is the NBA's largest market outside the United States. But, NBA Deputy Commissioner and COO Mark Tatum told CNBC's "Street Signs" that his organization is looking elsewhere in the continent for even more growth.
"Three hundred million people played the game of basketball in China. We are the No. 1 sport there. We have a big partnership with Tencent , which distributes our games through League Pass, and they distribute some 600 games or so every year," he said.
However, the NBA is now looking to focus its efforts on Southeast Asia and the broader Asia-Pacific region.
Pointing to the Philippines , Indonesia , Thailand , Japan and Australia as the next big markets for the NBA, Tatum said "basketball in Southeast Asia has never been greater and it is growing rapidly."
The NBA has a network of key media partners in Southeast Asia to leverage its local reach and audience. Tatum highlighted the importance of "delivering the NBA game" and its "content to fans in this region."
"We have got greater distribution in this region than we ever had before, with 25 different media partners. We just announced a new exclusive deal in the last year with Rakuten, for example," he said.
Another area the league is focusing on in Asia Pacific is grassroots development. The NBA is working with local governments in Southeast Asia to run workshops in hopes of getting "more kids, and more people playing the game of basketball," according to Tatum.
Specifically, the league has a "Jr. NBA" program that has already reached 5 million kids, and it has a goal of reaching nearly 20 million kids by the end of next year, the executive told CNBC.
According to Tatum, of the 1.5 billion social media users following the sport, "half of that traffic comes from outside the United States and a large portion of that comes from Asia." | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/10/the-nba-is-looking-at-a-handful-of-asian-countries-to-become-big-markets.html |
May 7 (Reuters) - Snapchat owner Snap Inc said on Monday Amazon.com Inc veteran Tim Stone would replace Andrew Vollero as chief financial officer effective May 16.
Stone will have a annual salary of $500,000 according to a regulatory filing.
“He (Vollero) has done an amazing job as Snap’s first CFO, building a strong team and helping to guide us through our transition to becoming a public company,” said Snap Chief Executive Officer Evan Spiegel. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Shounak Dasgupta)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/snap-cfo-stone/snap-names-amazons-tim-stone-as-cfo-idUSL3N1SE56W |
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who held shares of Columbia Pipeline Group, Inc. (“Columbia Pipeline”) (formerly NYSE:CPGX) on May 18, 2016 . You are hereby notified that Levi & Korsinsky filed a securities class action lawsuit in the Southern District of New York, Case No. 1:18-cv-03670. To get more information go to:
http://www.zlk.com/pslra-cm/columbia-pipeline-group-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that Columbia Pipeline failed to disclose material information in its Proxy statement related to the then-proposed merger of Columbia Pipeline with TransCanada. In particular, it is alleged that the Proxy failed to disclose that Columbia Pipeline and its executive officers: (1) conspired to engineer the Spinoff from NiSource, and ultimate sale of the Company to TransCanada, as part of a plan to cash in on change-in-control benefits; (2) concealed TransCanada’s prior expressions of interest to purchase the Pre-Spinoff Entities directly from NiSource; (3) excluded prospective buyers from bidding, thereby preferencing TransCanada to the detriment of Columbia Pipeline shareholders; (4) negotiated standstill agreements, and waivers therefrom, with various prospective buyers to rush to consummate the Merger with TransCanada, thereby triggering the change-in-control benefits; and (5) did not negotiate to maximize the value of Columbia Pipeline shares in the Merger.
If you wish to serve as lead plaintiff, you must move the Court no later than June 29, 2018 . Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180430006571/en/
Levi & Korsinsky, LLP
Joseph E. Levi, Esq., 212-363-7500
Toll Free: 877-363-5972
Fax: 212-363-7171
www.zlk.com
Source: Levi & Korsinsky, LLP | ashraq/financial-news-articles | http://www.cnbc.com/2018/04/30/business-wire-shareholder-alert-levi-korsinsky-llp-notifies-former-shareholders-of-columbia-pipeline-group-inc-of-a-class-action-complaint.html |
ATLANTA--(BUSINESS WIRE)-- American Software, Inc. (NASDAQ: AMSWA) today announced that its Board of Directors declared a quarterly dividend of $.11 per share, The dividend is payable to the Class A and Class B Common Shareholders of record at the close of business on August 17, 2018. The dividend will be paid on or about August 31, 2018.
About American Software, Inc.
Atlanta-based American Software, Inc. (NASDAQ: AMSWA) provides demand-driven supply chain management and advanced retail planning solutions, backed by more than 45 years of industry expertise, that drive value for companies regardless of market conditions. Logility, Inc. , a wholly-owned subsidiary of American Software, is a leading provider of collaborative supply chain optimization and advanced retail planning solutions that help medium, large, and Fortune 500 companies realize substantial bottom-line results in record time. Logility Voyager Solutions™ is a complete supply chain and retail optimization solution suite that provides advanced analytics; supply chain visibility; demand, inventory and replenishment planning; Sales and Operations Planning (S&OP); Integrated Business Planning (IBP), supply and inventory optimization; manufacturing planning and scheduling; retail merchandise and assortment planning and allocation; and transportation planning and management. Logility customers include Big Lots, Parker Hannifin, Verizon Wireless, and VF Corporation. Demand Management, Inc. , a wholly-owned subsidiary of Logility, delivers affordable, easy-to-use software-as-a-service (SaaS) supply chain solutions for manufacturers and distributors designed to increase forecast accuracy, improve customer service levels, and reduce overall inventory to maximize profits and lower costs. Demand Solutions DSX offers demand planning, collaborative forecasting, inventory planning, production planning and scheduling, S&OP and IBP. Demand Management serves customers such as Siemens Healthcare, AutomationDirect.com , and Newfoundland Labrador Liquor Corporation. Halo Business Intelligence , a wholly-owned subsidiary of Logility, provides an advanced analytics software and advisory services provider that offers customers an innovative blend of technology to drive better supply chain performance. Halo’s Advanced Information Hub is a first-of-its kind solution to help companies leverage all of their corporate data to generate new insight for competitive advantage. New Generation Computing® (NGC®) , a wholly-owned subsidiary of American Software, is a leading provider of PLM, and supply chain management software and services for brand owners, retailers and consumer products companies. NGC customers include A|X Armani Exchange, Billabong, Carter’s, Destination XL, Hugo Boss, Jos. A. Bank, Marchon Eyewear, Spanx, Swatfame and many others. For more information about American Software, named one of the 100 Most Trustworthy Companies in America by Forbes Magazine, please visit www.amsoftware.com , call (800) 726-2946 or email: [email protected] .
Forward Looking Statements
This press release contains that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services, including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the Company’s ability to satisfy in a timely manner all SEC required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; the challenges and risks associated with integration of acquired product lines and companies; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's current Form 10-K and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264-5477 or fax: (404) 264-5298.
Logility is a registered trademark and Logility Voyager Solutions is a trademark of Logility; Demand Solutions is a registered trademark of Demand Management; and Andromeda is a trademark of NGC and New Generation Computing are registered trademarks of New Generation Computing, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180516006432/en/
American Software, Inc.
Vincent C. Klinges, 404-264-5477
Chief Financial Officer
Source: American Software, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/business-wire-american-softwareas-board-approves-the-quarterly-cash-dividend.html |
Bayer cuts full-year earnings guidance on strong euro 4:55pm BST - 01:28
Bayer says the pressure from a stronger euro on overseas revenues would translate into a decline in earnings this year, as it prepares to close its $62.5 billion takeover of U.S. seeds maker Monsanto next quarter. Sonia Legg reports.
Bayer says the pressure from a stronger euro on overseas revenues would translate into a decline in earnings this year, as it prepares to close its $62.5 billion takeover of U.S. seeds maker Monsanto next quarter. Sonia Legg reports. //reut.rs/2KxOSqL | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/03/bayer-cuts-full-year-earnings-guidance-o?videoId=423511050 |
(Reuters) - A Maryland man accused of a 2017 workplace shooting in his home state that left three co-workers dead was convicted on Tuesday of multiple charges in the shooting of a man in Delaware, prosecutors said.
A New Castle County, Delaware, jury found Radee Prince, 38, guilty of attempted manslaughter, possession of a firearm during the commission of a felony, reckless endangering in the first degree, carrying a concealed deadly weapon, and resisting arrest, Carl Kanefsky, a Delaware Department of Justice spokesman, said in an email.
Prince is scheduled to be sentenced on Aug. 31 and faces eight to 89 years in prison, Kanefsky said.
In January, a grand jury in Harford County, Maryland, indicted Prince on three counts of first-degree murder and two counts of attempted first-degree murder, as well as firearms charges, for the October workplace attack at a kitchen countertop company near Baltimore, according to the county prosecutor’s office.
Prince, of Elkton, Maryland, is accused of shooting to death three co-workers and wounding two others at the Edgewood, Maryland, company before fleeing in a vehicle.
Prince was jailed in Wilmington, Delaware, for a separate shooting that occurred there hours after the deadly attack in Maryland. In Delaware, he had faced a charge of attempted first-degree murder stemming from the shooting of a man at an auto shop.
Maryland prosecutors plan to pursue a warrant to pick up Prince and return him to Maryland so they can begin their case and send Prince back to Delaware for sentencing, Harford County State’s Attorney Joseph Cassilly said in a telephone interview.
(Corrects title in second paragraph to ‘Delaware Department of Justice spokesman’ from ‘U.S. Department of Justice spokesman)
Reporting by Suzannah Gonzales in Chicago; Editing by Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/us-maryland-shooting/man-accused-in-maryland-workplace-shooting-convicted-in-delaware-shooting-idUSKCN1IG3G1 |
SAVANNAH, Ga.--(BUSINESS WIRE)-- Citi Trends, Inc. (NASDAQ:CTRN) today announced details for the release of its results for the first quarter ending May 5, 2018.
Citi Trends plans to release its earnings for before the market opens on Wednesday, May 23, 2018. Citi Trends will host a conference call on the same day at 9:00 a.m. ET. The number to call for the live interactive teleconference is (303) 223-4360. A telephonic replay of the conference call will be available until May 30, 2018, by dialing (402) 977-9140 and entering the passcode, 21888546.
The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com , under the Investor Relations section, on May 23, 2018, beginning at 9:00 a.m. ET. The online replay will follow shortly after the call and will be available for replay for one year.
During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends that have occurred after quarter-end. The Company’s responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company operates 553 stores located in 31 states. Citi Trends’ website address is www.cititrends.com . CTRN-G
View source version on businesswire.com : https://www.businesswire.com/news/home/20180504005080/en/
Citi Trends, Inc.
Bruce Smith, 912-443-2075
President and Chief Executive Officer
Source: Citi Trends, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/04/business-wire-citi-trends-sets-date-for-first-quarter-2018-earnings-release-and-conference-call.html |
The stock market rebound on Wednesday was yet another example of panic being replaced by rationality, CNBC's Jim Cramer said.
"We forget why people fled from high quality stocks in droves yesterday, even stocks that had nothing to do with Italy," the " Mad Money " host said. "For the record, that's pretty much every American company having nothing to do with Italy, aside from a handful of players."
The Dow Jones industrial average rose 306.33 points, or 1.26 percent, closing at 24,667.78. The S&P 500 ended 1.27 percent higher and the Nasdaq composite rose nearly 0.9 percent.
The action followed Tuesday's selloff on concerns about Italy's political uncertainty.
The euro zone's third-largest economy has been without a government since an inconclusive vote in March. On Sunday, President Sergio Mattarella refused to accept the nomination of a euroskeptic candidate for economy minister. Instead, he appointed former International Monetary Fund (IMF) official Carlo Cottarelli as interim prime minister, rattling global markets .
Cramer believes there are five reasons the market came back on Wednesday.
1. We are not in Italy If you listened to the bears on Tuesday, it sounded like Wall Street was located in Rome, Cramer said.
However, "anyone who thinks that Italy is a functioning state with a real live banking system is kidding themselves," he said.
Italians want a better government and solvent, competitive banks, he added. But more importantly, they are "sick and tried" of a strong euro, which hurts the tourism business.
"That's the cause of the latest fracas: Italy loses far more than it gains from the euro—I think they'd be better off with their own currency—and they really don't like the EU's heavy-handed approach to just about everything," said Cramer.
2. Strong economy = higher stock prices Because of the strength of the U.S. economy, investors are "getting some incredible returns from great American companies that do most of their business domestically," the Mad Money host said
"Selling these stocks because of Italian woes is just as stupid as selling them because of the credit rating of New Jersey or Illinois."
3. America's natural resources The United States is "booming" in part because of its natural resource base, Cramer said.
While it's more concentrated in certain states not as spread out across the country as he'd like, it explains why the employment situation is robust, he added.
4. Easing of regulations Doing business overseas requires navigating through a dense "thicket" of regulations. However, things are easing up in the U.S., Cramer said.
"Now that the Trump administration is slashing regulations left and right, or at least taking a very hands off attitude for enforcing the rules it can't get rid of, America has become an even easier place to hire people and grow your business."
5. Our banks are not like Italy's What got Cramer so upset on Tuesday was that many combined the problems of Italy's banking systems with that of the U.S.
"There is one similarity: they both involve capital. But that's where the similarity ends because most Italian banks — and European banks for that matter — are radically undercapitalized, while our banks are insanely overcapitalized," he explained.
The bottom line Wednesday's action was proof that selling on a European pullback is a mistake, said Cramer.
"America is not Italy. New York is not Rome. Our banks are not their banks," he said.
"It's easy to remember this stuff when we're rallying like today, but please try not to forget the next time we get slammed off of something that has nothing to do with the United States."
WATCH: Cramer explains why the market came back show chapters Cramer: 5 reasons the stock market rebounded 17 Hours Ago | 12:59
| ashraq/financial-news-articles | https://www.cnbc.com/2018/05/30/cramer-5-reasons-the-stock-market-rebounded.html |
KARACHI (Reuters) - As they were about to enter the office of the Commissioner of Karachi for a meeting to discuss a rally planned in Pakistan’s largest city, leaders of a Pashtun-led rights movement were intercepted by armed men accompanied by paramilitary Rangers.
A supporter of the Pashtun Tahaffuz Movement (PTM) holds a placard, with a photo of a missing person, at a rally in response to alleged human rights violations by security forces, in Karachi, Pakistan May 13, 2018. Picture taken May 13, 2018. REUTERS/Akhtar Soomro “A car with men in plainclothes pulled up in front of us and men with guns got out and told us to stand still,” Said Alam Mahsud, an organizer with the Pashtun Tahafaz Movement (PTM), told Reuters.
He said three PTM activists with him were put in a truck and taken away by the armed men, as uniformed Rangers stood by. They returned two days later saying they had been interrogated, threatened, punched and kicked by the unidentified men, then handed over to the Rangers, who released them.
PTM, which drew nearly 10,000 people to its Karachi rally on Sunday, was founded in January in protest against alleged extrajudicial killings, arbitrary detention and “disappearances” of young Pashtun men.
Leaders of the emerging movement have blamed Pakistan’s military for these abuses, in an unusually direct challenge to the country’s most powerful institution.
Now, PTM’s activists themselves have started disappearing, according to Mohsin Dawar, one of the movement’s leaders.
PTM organizers again blame the powerful military, saying the movement’s growing popularity in major cities, even amid a local media blackout, has left the security forces feeling threatened.
The military’s press wing did not respond to requests for comment on the allegations. In the past, the army has said it does not detain individuals without evidence.
Officials from the paramilitary Rangers, which are part of the security forces and have broad powers in Karachi, also did not respond to requests for comment. Neither did the office of the Karachi Commissioner, who is the head of the city government.
“ANTI-STATE AGENDA”
In the past month, PTM says dozens of its activists have been detained across the country, while newspaper columnists have had articles on PTM rejected. Some students and academics say they have been threatened and universities forced to call off talks about Pashtun inequality.
In the week leading up to the Karachi protest, PTM’s leadership said Rangers and unidentified security officials detained and interrogated more than 100 of its supporters and kept nearly 30 workers in custody.
“The amount they are trying to stop us, it shows they are scared,” student activist Manzoor Pashteen, who has become the face of the movement, told Reuters. “I don’t think they know they are our guardians, their behavior is that of criminals.”
Ismat Shahjahan, organiser of the Pashtun Tahaffuz Movement (PTM) walks with flags at rally against, what they say, are human rights violations by security forces, in Karachi, Pakistan May 13, 2018. Picture taken May 13, 2018. REUTERS/Akhtar Soomro Despite the apparent crackdown, the protest in Karachi drew nearly 10,000 people. Pashteen himself was stopped from boarding a flight from the capital, Islamabad, to Karachi on Saturday after the airline told him his ticket had been canceled, he said, adding it took him 40 hours to drive to the city after being stopped and detained several times while on the road.
While there has been no official action against the PTM, army chief Qamar Javed Bajwa said recently that “no anti-state agenda in the garb of engineered protests” would be allowed to succeed. His comments were widely interpreted as being directed at the group.
Many of Pakistan’s 30 million ethnic Pashtun’s hail originally from the borderlands with Afghanistan, where the Pakistani Taliban controlled swathes of territory until they were pushed out by military operations in 2009 and 2014.
PTM leaders say they do not want to challenge the government or undermine security, but complain Pashtuns - many of whom have moved to the cities to escape a near-decade long insurgency by Islamist militants - are unfairly targeted and suffer abuses at the hands of security forces in the name of fighting terrorism.
CAMPUS CHALLENGE In April, a week before PTM was due to stage a rally in Lahore, Habib University in Karachi and the Lahore University of Management Sciences (LUMS) called off talks related to Pashtun rights organized by students and academics.
On the morning of the talks, both universities received calls from security officials, including representatives of Pakistan’s spy agency the Inter Services Intelligence (ISI), telling them to cancel the discussions, faculty members said.
“Calls were made to the administration as well as in-person visits from people who identified themselves as ISI,” said a LUMS professor. “I received a call and was told to refrain from anti-military activity.”
Officials from the ISI did not respond to a request for comment.
At Habib University, the administration received visits from security officials and a call on the morning the lecture was due to take place, three different faculty members said.
Representatives from LUMS and Habib University did not respond to requests for comment.
Slideshow (2 Images) Three students who had expressed support for PTM on social media told Reuters they had received threatening calls from unknown numbers telling them to stop, adding they knew of a dozen others who had received similar calls.
The same week, Punjab University professor Ammar Ali Jan said he was removed from his post for encouraging students to be vocal about human rights issues and supporting PTM.
Punjab University spokesman Khurram Shahzad said Jan was dismissed because of incomplete paperwork.
Pakistan’s minister for state and interior affairs, Talal Chaudhry, said such actions “by unnamed forces” were part of a wider clampdown on freedom of thought in Pakistan.
“We now have to listen to the people of Pakistan,” Chaudhry said. “There have been very few such things in Pakistan’s history where people come out on their own, to support a leaderless group,” he added, referring to PTM.
Relations between the army and civilian government have been increasingly strained since the removal of former Prime Minister Nawaz Sharif by the courts last year, with some ruling party insiders accusing elements of the military of trying to destabilize it ahead of a general election expected in July.
The military, which has ruled Pakistan for about half its history, denies any interference in civilian politics.
CRACKDOWN IN KARACHI Mohsin Dawar arrived in Karachi on May 6 and, along with other PTM leaders, began meeting local Pashtuns to plan the weekend rally.
“From the day we arrived they [the Rangers] began arresting our supporters,” Dawar said.
People who provided PTM with logistical support, such as a place to hold their meetings, were picked up for five to six hours and threatened, he said.
“They told them not to support us; that we will leave Karachi but they have to continue living here,” Dawar added.
Karachi is where the killing of a young Pashtun, Naqeebullah Mehsud, by police in January sparked nationwide peaceful demonstrations about Pashtun rights, from which PTM emerged.
Organizers say they attempted to contract vendors to supply chairs, a stage, and a sound system for the rally, but none of the equipment was delivered.
One vendor, who asked not to be identified, told Reuters he received a call after meeting PTM members. “They said that if even one candle was delivered to the rally, my body would never be found,” he said.
Reporting by Saad Sayeed; Additional reporting by Mubasher Bukhari in Lahore and Syed Raza Hasan in Karachi; Writing by Saad Sayeed; Editing by Kay Johnson and Alex Richardson
| ashraq/financial-news-articles | https://www.reuters.com/article/us-pakistan-pashtuns/founded-to-protest-pakistan-disappearances-group-now-sees-supporters-go-missing-idUSKCN1II07C |
LONDON (Reuters) - British May will convene her Brexit sub-committee later this week, aiming to narrow down the government’s position on a future customs arrangement with the European Union to one of two options.
The resignation of Amber Rudd as interior minister on Sunday deprives the cabinet of one of its most outspokenly pro-EU members.
Although her successor Sajid Javid campaigned to remain in the EU during the 2016 referendum, he is much less pro-European than Rudd.
What are the views of other members of this cabinet on Europe?
PRIME MINISTER THERESA MAY May campaigned to remain in the EU during the Brexit referendum, although she kept a low profile. Since taking power, May has reassured and worried both supporters and opponents of leaving the EU.
While some supporters of a “clean” Brexit fear that she wants to retain close ties with the EU, May has said explicitly that Britain will leave any form of customs union and the EU single market.
FINANCE MINISTER PHILIP HAMMOND Hammond is one of the cabinet’s main advocates of sticking close to EU rules, and infuriated supporters of Brexit earlier this year by calling for there to be only “very modest” changes when Britain leaves the trading bloc.
INTERIOR MINISTER SAJID JAVID Javid campaigned to remain in the European Union during the 2016 referendum, even though a few months before the vote he said his “heart” was for Brexit. After the result, he said: “We’re all Brexiteers now.”
FOREIGN MINISTER BORIS JOHNSON Johnson is arguably the best known of the Brexiteers. He has repeatedly questioned May’s approach by publishing his own Brexit manifesto and urging her to spend money saved by leaving the EU on the health service.
BREXIT MINISTER DAVID DAVIS An advocate of a clean break from the EU, including leaving the single market and customs union, Davis has the difficult task of carrying out the process he had outlined.
INTERNATIONAL TRADE MINISTER LIAM FOX Fox is one of the three original Brexiteers in government, and has said staying in a customs union with the bloc would be a betrayal of the millions of people who voted for Brexit.
CABINET OFFICE MINISTER DAVID LIDINGTON Lidington said he was “hugely disappointed” by the vote to leave the EU, but acknowledged a responsibility to respect the outcome.
BUSINESS MINISTER GREG CLARK Clark campaigned to remain in the EU during the referendum and has advocated a close relationship with the bloc, including avoiding the introduction of tariffs.
NORTHERN IRELAND MINISTER KAREN BRADLEY Before the referendum, Bradley said that staying in the EU was vital for Britain’s prosperity. She declined last year to say which side she would support if there were to be another vote.
ENVIRONMENT MINISTER MICHAEL GOVE Gove was one of the leading campaigners for Brexit during the referendum.
DEFENSE MINISTER GAVIN WILLIAMSON Williamson supported remaining in the EU during the Brexit referendum, but now appears more enthusiastic about leaving. Earlier this year, the Sun newspaper reported that he had ordered EU flags in his department to be taken down.
Reporting By Andrew MacAskill; Editing by Kevin Liffey
| ashraq/financial-news-articles | https://www.reuters.com/article/us-britain-eu-factbox-cabinet/factbox-does-javid-appointment-tilt-britains-approach-to-brexit-idUSKBN1I11ND |
U.S. markets were hit Tuesday as traders expressed concern over a spiraling political crisis in Italy. Futures pointed to a drop of 0.6% for the S&P 500 at the open and a fall of 0.7% for the Dow industrials. Banks were some of the hardest hit, with off 1.4% in premarket trade and and Goldman Sachs Steady Capex Growth Could be Good For Stocks Next Stocks to Watch: Apple, Qualcomm, Disney, 21st Century Fox, Chevron, Johnson & Johnson, Starbucks | ashraq/financial-news-articles | https://blogs.wsj.com/moneybeat/2018/05/29/italys-political-turmoil-hits-u-s-markets/ |
* GREENBRIAR EQUITY GROUP COMPLETES SALE OF RYAN HERCO FLOW SOLUTIONS Source text for Eikon: Further company coverage: [ ]
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-greenbriar-equity-group-completes/brief-greenbriar-equity-group-completes-sale-of-ryan-herco-flow-solutions-idUSASC09YCS |
May 27, 2018 / 4:12 PM / Updated an hour ago Box Office: 'Solo: A Star Wars Story' Looks to Edge Past $100 Million For Holiday Weekend 3 Min Read
LOS ANGELES, May 27 (Variety.com) - Estimates for “Solo: A Star Wars Story” are continuing to fly low.
Disney and Lucasfilm’s “Star Wars” prequel is now looking to make $101 million in North America during its four-day holiday weekend debut. The Han Solo origin film’s three-day estimate currently hovers around $83 million.
Tracking earlier this week suggested “Solo” would lift off with $130 million to $150 million. The film, directed by Ron Howard, follows Alden Ehrenreich as a young Han Solo, who befriends his future co-pilot and Wookie companion Chewbacca, and meets the notorious gambler Lando Calrissian (Donald Glover). Emilia Clarke, Woody Harrelson, Thandie Newton, Paul Bettany, Joonas Suotamo, and Phoebe Waller-Bridge round out the cast.
Early estimates predicted “Solo” could secure the best Memorial Day weekend opening, but it looks like “Pirates of the Caribbean: At World’s End” will continue to hold the crown with its $139.8 million in 2007.
“Solo,” the second standalone “Star Wars” anthology film, has fallen far behind 2016’s “Rogue One,” which landed a three-day weekend opening of $155 million. The most recent installment in the franchise — “Star Wars: The Last Jedi” — opened less than six months ago. The second film in “Star Wars’” sequel trilogy debuted with $220 million domestically.
With “Solo” as the only new release of the weekend, the rest of the North American box office will be bolstered by a number of holdovers.
“Deadpool 2” should easily score the second slot, heading for a $42 million three-day sophomore frame and a four-day total of around $54 million. As of Friday, the superhero sequel starring Ryan Reynolds has earned $176.8 million.
The fifth weekend of “Avengers: Infinity War” looks to land in third. The Marvel blockbuster is looking at a $16.9 million three-day estimate, along with a four-day number of $22.1 million.
In fourth should be Paramount’s “Book Club.” The romantic comedy is aiming for $9.6 million in its second weekend. If its four-day cume reaches $12.3 million, that would put “Book Club’s” domestic tally at $34.5 million. “Life of the Party” should round out the top five with around $5 million in its third frame.
“Solo” still boosts the domestic box office 23.1 percent compared to Memorial Day weekend in 2017, according to comScore. Meanwhile, the year-to-date box office continues its positive trajectory with 7.6 percent.
“Despite the fact that ‘Solo’ performed softer than many had projected, a hugely competitive and crowded marketplace gave the industry one of the better performing Memorial holiday weekend totals,” said box office analyst Paul Dergarabedian. | ashraq/financial-news-articles | https://www.reuters.com/article/usa-boxoffice/box-office-solo-a-star-wars-story-looks-to-edge-past-100-million-for-holiday-weekend-idUSL2N1SY07F |
May 23, 2018 / 6:41 AM / Updated 3 hours ago Iran slams U.S. sanctions push, Syria rejects idea of Iranian withdrawal Bozorgmehr Sharafedin 4 Min Read
LONDON (Reuters) - Iran on Wednesday kept up a drumbeat of opposition to U.S. demands for sweeping change in its foreign policy and nuclear programme, and Tehran’s ally Damascus dismissed out of hand a U.S. call for a withdrawal of Iranian forces from Syria. FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi//File Photo
France, one of several European powers dismayed by the U.S. withdrawal from a 2015 nuclear accord, said Washington’s method of adding more sanctions on Tehran would reinforce the country’s dominant hardliners.
U.S. Secretary of State Mike Pompeo on Monday threatened Iran with “the strongest sanctions in history” if it did not curb its regional influence, accusing Tehran of supporting armed groups in countries such as Syria, Lebanon and Yemen.
Pompeo was speaking two weeks after President Donald Trump pulled out of an international nuclear deal with Iran that had lifted sanctions on Iran in exchange for curbs to its nuclear programme. European powers see the accord as the best chance of stopping Tehran acquiring a nuclear weapon. Related Coverage Iranian officials split over response to U.S. demands
Iran’s Foreign Minister Mohammad Javad Zarif said Pompeo had repeated old allegations against Tehran “only with a stronger and more indecent tone”.
“Mr Pompeo and other U.S. officials in the current administration are prisoners of their wrong illusions, prisoners of their past and have been taken hostage by corrupt pressure groups,” he told state television. Iranian Foreign Minister Mohammad Javad Zarif is pictured before a meeting with European Commissioner for Energy and Climate, Miguel Arias Canete, in Tehran, Iran May 20, 2018. REUTERS/Alissa de Carbonnel
A senior Iranian military official, Major General Mohammad Bagheri, said Iran would not bow to Washington’s pressure to limit its military activities.
“This enemy (the United States) does not have the courage for military confrontation and face-to-face war with Iran, but it’s trying to put economic and mental pressures on the Iranian nation,” state news agency IRNA reported him as saying. “ENDANGERING THE REGION”
In Damascus, Syria’s deputy foreign minister dismissed the notion of a withdrawal of Iranian forces. Slideshow (2 Images)
In Syria’s seven-year-old conflict, Iran has provided vital support to President Bashar al-Assad’s military. Its forces and the militias it backs from the region, including Lebanon’s Hezbollah, helped Damascus claw back control of major cities from militants and rebels.
“Whether Iranian forces or Hezbollah withdraw or stay in Syria is not up for discussion because it’s the (business) of the Syrian government,” Lebanon’s al-Mayadeen TV cited Faisal Mekdad as saying.
In Paris, France’s foreign minister said the U.S. decision to scrap the Iran nuclear deal and implement a tough strategy on the country would strengthen Tehran’s hardliners and endanger the region.
“We disagree with the method because this collection of sanctions which will be set up against Iran will not enable dialogue and, on the contrary, it will reinforce the conservatives and weaken President Rouhani. This posture risks endangering the region more,” Jean-Yves Le Drian told France Inter radio.
He said Paris would continue to implement the agreement even if it did agree with the United States that Iran’s ballistic missile activity and regional hegemonic ambitions needed to be curbed.
He said Paris shared Washington’s concerns over Iran’s ballistic missile “frenzy” and regional ambitions, but the 2015 nuclear deal was the best chance of stopping Tehran developing a nuclear bomb.
Deputy foreign ministers of the remaining parties to the accord - Britain, China, France, Germany and Russia - will meet their Iranian counterpart on Friday in Vienna.
The meeting will assess what can be done to keep the deal and circumvent extraterritorial American sanctions that are impacting foreign business appetite for Iran. Additional reporting by John Irish in Paris and Parisa Hafezi in Ankara, Ellen Francis in Beirut, Editing by William Maclean and Janet Lawrence | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-iran-nuclear-usa/iran-says-will-not-seek-permission-from-any-power-to-develop-weapons-irna-idUKKCN1IO0NM |
May 12, 2018 / 10:00 AM / Updated 9 hours ago Time travellers invited to Stephen Hawking send-off Reuters Staff 2 Min Read
LONDON (Reuters) - Stephen Hawking’s family have invited time travellers to his memorial service, seeking to tackle one of the curiosities that eluded the British physicist during his extraordinary life. FILE PHOTO: Physicist Stephen Hawking sits on stage during an announcement of the Breakthrough Starshot initiative with investor Yuri Milner in New York April 12, 2016. REUTERS/Lucas Jackson/File Photo
The world’s most recognisable scientist died in March aged 76 after a lifetime spent probing the origins of the universe, the mysteries of black holes and the nature of time itself.
Members of the public have been invited to apply for tickets to attend a celebration of Hawking’s life at a memorial service in Westminster Abbey on June 15 where his ashes will be interred alongside the graves of Isaac Newton and Charles Darwin.
Those wishing to apply have to fill in a form and state their date of birth, which can be any day up to the end of 2038. FILE PHOTO: Theoretical physicist Stephen Hawking and his daughter Lucy arrive at the British Academy of Film and Arts (BAFTA) awards ceremony at the Royal Opera House in London February 8, 2015. REUTERS/Suzanne Plunkett/File Photo
The option to have a date of birth in the future was spotted by London blogger ianvisits who wrote on his site: “Professor Hawking once threw a party for time travellers, to see if any would turn up if he posted the invite after the party.
“None did, but it seems perfect that the memorial website allows people born in the future to attend the service. Look out for time travellers at the Abbey.”
Sarah Bridle, a professor of Astrophysics at the University of Manchester, told BBC Radio that Hawking, who was confined to a wheelchair for most of his life, had remained curious about the potential for time travel, even after his party in 2009.
“He was curious and he had a great sense of humour,” she said. “He said he combined his two favourite things, experiments and champagne to put on this party.” Reporting by Kate Holton; Editing by Alexander Smith | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-people-hawking/time-travellers-invited-to-stephen-hawking-send-off-idUKKCN1ID08X |
Dr. Finer, Venture Partner with Third Rock Ventures, has 30 years research and clinical experience
MENLO PARK, Calif.--(BUSINESS WIRE)-- Transcriptic , the first robotic cloud laboratory platform, today announced the addition of Jeff Finer, M.D., Ph.D. to the company’s Board of Directors. Dr. Finer is currently a Venture Partner at Third Rock Ventures. Prior to joining Third Rock in 2016 he held many R&D leadership positions including 18 years of experience leading drug discovery programs at several successful biotech companies.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180510005629/en/
“We are delighted to have Jeff join the board as an independent director and believe his unique perspective and relevant industry experience will be immediately beneficial to the company,” said Yvonne Linney, Transcriptic’s Chief Executive Officer. “Jeff has a long and impressive career in drug discovery and development which has led to a strong understanding of the advantages offered by Transcriptic’s robotic laboratory platform.”
“We are thrilled to welcome Jeff to the Transcriptic Board of Directors,” said Matt Ocko, co-founder and co-Managing Partner of Data Collective (DCVC), the lead investor in Transcriptic. “For years, Jeff has been a leading advocate in the scientific and medical communities for harnessing technology to ensure that safe and effective drugs reach the market much more quickly than has been historically possible. His strategic contributions to the Board will no doubt play a critical role in advancing Transcriptic’s unique platform.”
Prior to joining Third Rock, Jeff spent many years in R&D leadership positions at a number of biotechnology companies including Theravance, Five Prime Therapeutics and Cytokinetics. Jeff has focused his career on breakthrough innovations which have included moving several first-in-class drugs into the clinic and developing novel technology platforms which integrate science, instruments, and informatics. He holds several patents and has published extensively in peer-reviewed journals. Jeff obtained his M.D. and Ph.D. in Biochemistry from Stanford University School of Medicine, and he holds B.S. degrees in Chemistry and Biology from Massachusetts Institute of Technology. He completed residency training in Internal Medicine at Stanford and in Ophthalmology at Massachusetts Eye & Ear Infirmary and Harvard Medical School.
“There is a clear need to improve the drug discovery process, and we are at the dawn of a new era of high-throughput experimentation driven by emerging technologies in biology, chemistry, and data science. Transcriptic is positioned to fundamentally shift the way experiments will be conducted in laboratories of the future,” said Dr. Finer. “I am looking forward to working with the rest of the board and the senior management team as they continue growing their customer base and providing companies with the technologies they need to perform more efficient, scalable and reproducible research.”
About Transcriptic
Transcriptic has developed the first robotic cloud laboratory platform for on-demand life science research. The Transcriptic Common Lab Environment (TCLE) integrates laboratory processes, protocols and instruments together with IoT technologies through a single user interface. Top 10 pharmaceutical as well as growing biotech companies are using the power of the Transcriptic software platform, either in their own labs through on-premises deployment of TCLE or externally through Transcriptic’s Bioassay Services. The Transcriptic platform allows researchers to carry out efficient, reproducible and rapid experimentation remotely so they can focus on accelerating discoveries instead of labor-intensive bench work. The company is based in the San Francisco Bay Area. For more information, visit www.Transcriptic.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180510005629/en/
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Nicole Litchfield, 415-793-6468
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Michelle Linn, 774-696-3803
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Source: Transcriptic | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/business-wire-transcriptic-appoints-life-science-industry-veteran-jeff-finer-m-d-ph-d-to-board-of-directors.html |
May 11 (Reuters) - Ormat Technologies Inc:
* ORMAT TECHNOLOGIES INC FILES NON-TIMELY 10-Q WITH U.S. SEC
* ORMAT TECHNOLOGIES INC SAYS HAS DETERMINED THAT IT IS NOT ABLE TO FILE ITS QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2018
* ORMAT TECHNOLOGIES - MANAGEMENT IDENTIFIED ERROR IN CO’S QUARTER ENDED MARCH 31 FINANCIAL STATEMENT PRESENTATION OF DEFERRED INCOME TAX ASSETS & LIABILITIES
* ORMAT TECHNOLOGIES - NETTED SOME DEFERRED INCOME TAX ASSETS & LIABILITIES ACROSS DIFFERENT TAX JURISDICTIONS NOT PERMITTED PURSUANT TO U.S. GAAP Source text: ( bit.ly/2G7Cjis ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-ormat-technologies-files-non-timel/brief-ormat-technologies-files-non-timely-10-q-with-u-s-sec-idUSFWN1SI1F4 |
NEW YORK, May 3, 2018 /PRNewswire/ -- S&P SmallCap 600 constituent McDermott International Inc. (NYSE:MDR) will replace Diebold Nixdorf Inc. (NYSE:DBD) in the S&P MidCap 400, and Diebold Nixdorf will replace McDermott International in the S&P SmallCap 600 effective prior to the open of trading on Thursday, May 10. McDermott International is merging with Chicago Bridge & Iron Company N.V. (NYSE:CBI) in a deal expected to be completed on or about that date pending final conditions. Post-merger, the combined company will have a market capitalization more representative of the mid-cap market space. Diebold Nixdorf is ranked at the bottom of the S&P MidCap 400 and is no longer appropriate for that index.
McDermott International provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 Global Industry Classification Sector (GICS) Oil & Gas Equipment & Services Sub-Industry index.
Diebold Nixdorf provides connected commerce solutions to financial institutions and retailers. Headquartered in North Canton, OH, the company will be added to the S&P SmallCap 600 GICS Technology Hardware, Storage & Peripherals Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX – May 10, 2018
COMPANY
GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY
ADDED
McDermott
International
Energy
Oil & Gas Equipment &
Services
DELETED
Diebold Nixdorf
Information Technology
Technology Hardware,
Storage & Peripherals
S&P SMALLCAP 600 INDEX – May 10, 2018
COMPANY
GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY
ADDED
Diebold Nixdorf
Information Technology
Technology Hardware,
Storage & Peripherals
DELETED
McDermott
International
Energy
Oil & Gas Equipment &
Services
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View original content: http://www.prnewswire.com/news-releases/mcdermott-international-set-to-join-sp-midcap-400-diebold-nixdorf-to-join-sp-smallcap-600-300642597.html
SOURCE S&P Dow Jones Indices | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/pr-newswire-mcdermott-international-set-to-join-sp-midcap-400-diebold-nixdorf-to-join-sp-smallcap-600.html |
French bakers vie for prestigious title of Best Baguette 3:50pm EDT - 01:05
A baker from Le Reunion Island wins the prize for France's Best Traditional Baguette at an annual contest in Paris. Rough cut (no reporter narration).
A baker from Le Reunion Island wins the prize for France's Best Traditional Baguette at an annual contest in Paris. Rough cut (no reporter narration). //reut.rs/2L4cTpJ | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/15/french-bakers-vie-for-prestigious-title?videoId=427203997 |
JOHANNESBURG, May 2 (Reuters) - A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and TB in mines said on Wednesday an out-of-court settlement is expected to be signed on Thursday with implicated gold companies.
The High Court in 2016 set the stage for protracted proceedings on cases dating back decades in the largest class action suit yet in Africa’s most industrialized country.
“Barring unforeseen circumstances we expect to sign the silicosis agreement with the gold industry tomorrow,” Richard Spoor told Reuters. (Reporting by Ed Stoddard Editing by James Macharia)
| ashraq/financial-news-articles | https://www.reuters.com/article/safrica-mining-silicosis/s-african-lawyer-expects-to-sign-gold-miners-silicosis-settlement-thursday-idUSJ8N1RH01E |
TORONTO, May 09, 2018 (GLOBE NEWSWIRE) --
Wilmington Capital Management Inc. (“Wilmington” or the “Corporation”) (TSX:WCM.A) (TSX:WCM.B) reported a net loss attributable to shareholders of $0.6 million or ($0.06) per share compared to a net income of $12,000 or $0.00 per share for the same period in 2017. FIRST QUARTER 2018 HIGHLIGHTS The financial highlights of the Corporation and those of its associated entities are set out below. Investments in associated entities, where the Corporation is deemed to have significant influence account for the majority of the financial results and are accounted for using the equity method of accounting. Investments in entities where the Corporation does not have significant influence, are recorded at fair market value and the results of the investees are not recorded by the Corporation.
Self-storage facilities
Real Storage Private Trust (42.5% owned – the “Trust”) generated net operating income of $2.5 million , a 11% increase over the comparable period of 2017. The Ontario properties continued to perform well and occupancy levels and operating margins continued to stabilize in Alberta. Private equity
Northbridge’s assets under management amounted to approximately $37.6 million, a decline of $2.5 million from December 31, 2017, the result of selling activities of underlying investments in the Network 2012 Fund. The most recent energy fund raised in late 2016 amounted to $32.4 million of which approximately $16.1 million remains to be deployed. Special Situations
On November 30, 2017, the Corporation acquired an 18.15% ownership interest in the Maple Leaf Partnerships for $3.5 million. The Maple Leaf Partnerships own and operate 5 marinas, with over 100 acres of waterfront land, approximately 2,000 boat slips and development land, situated a 1.5-hour drive north of Toronto, Ontario. Maple Leaf Partnerships completed their 2018 strategic plan and initiated the re-development plan for the Bay Moorings Marina. The Corporation received $40,000 in management fees from the Maple Leaf Partnerships during Q1 2018. As at March 31, 2018, Wilmington had assets under management in its operating platforms of approximately $210.0 million ($68.6 million representing Wilmington’s share). OPERATIONS REVIEW Self-Storage Facilities Real Storage Private Trust The Trust’s revenues increased 11% during the three months ended March 31, 2018, compared to the same period 2017. The increase was primarily due to a 6% increase in rent and contributions from recently acquired properties. Funds from operations decreased 16%, when compared to the same period 2017, the result of a 39% increase in financing costs related to mortgages on newly acquired properties and the refinancing of the eastern property portfolio completed in September 2017. The Trust remains focused on organic growth and the acquisition of accretive properties located in areas where the Trust is active. Private Equity Northbridge Capital Partners Ltd. (“Northbridge”) and Northbridge Fund 2016 Limited Partnership The Corporation subscribed for $1.0 million in Northbridge Fund 2016, of which $600,000 had been funded as at March 31, 2018. The Corporation received $0.3 million of its share of capital invested in the Network 2012 Fund in March 2018. The Corporation expects the maturity date of the Network 2012 Fund to be extended up to December 31, 2019, with its remaining share of invested capital of $1.0 million to be realized within that timeframe. Special Situations Maple Leaf Partnerships On November 30, 2017, the Corporation acquired an 18.15% interest in Maple Leaf Partnerships for $3.5 million. The marina portfolio acquired by the Maple Leaf Partnerships is an historically known group of assets to the principals of the Marina Asset Manager, whose executives have a 20-year history of operating and developing marinas. While well maintained, the operations were not a core asset of the previous owner and consequently under performed. The Corporation believes that with renewed focus there is significant upside in these cash generating assets. Following the completion of the acquisition, the Maple Leaf Partnerships developed their strategic plan for 2018, a successful public relations campaign to attract new boaters to the marina under the new management and the successful transition of staff. A re-development plan for the Bay Moorings Marina was also initiated which calls for the former 344-boat slip marina to be re-developed into a water-front residential community. The Corporation owns 33.3% of the asset manager, Marina Asset Manager, which has entered into an asset management agreement with the Maple Leaf Partnerships. The Marina Asset Manager is responsible for oversight of the operations of and strategic planning for the Maple Leaf Partnerships. OUTLOOK The Corporation continues to concentrate on growing its two core businesses, the self-storage business and the private equity platform as well as seeking out special situations where assets are undervalued. The Corporation is pleased with its latest acquisition of a premiere portfolio of marinas in Ontario and looks forward to realizing superior returns from this investment as well as the self-storage and private equity platforms. FINANCIAL RESULTS
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
For the three months ended March 31, (CDN $ Thousands, except per share amounts) (unaudited) 2018 2017 Revenues 54 22 Share of net income (loss) from equity accounted investees: Real Storage Private Trust (25 ) 202 Northbridge Capital Partners Ltd. 1 (29 ) Network 2012 Limited Partners (394 ) (8 ) Marina Asset Manager Inc. (11 ) --- Expenses General and administrative (225 ) (204 ) Stock-based compensation (72 ) (23 ) Loss from continuing operations before income tax (672 ) (40 ) Income tax recovery 75 2 Net loss from continuing operations (597 ) (38 ) Net income from discontinued operations, net of tax --- 85 Net income (loss) (597 ) 47 Net loss from continuing operations attributable to: Owners of the Corporation (597 ) (38 ) Non-controlling interest --- --- (597 ) (38 ) Net income from discontinued operations attributable to: Owners of the Corporation --- 50 Non-controlling interest --- 35 --- 85 Net loss per share from continuing operations: Basic (0.06 ) --- Diluted (0.06 ) --- CONSOLIDATED BALANCE SHEETS
(unaudited) (audited) As at (CDN $ Thousands) 2018 2017 Assets NON-CURRENT ASSETS Investment in Real Storage Private Trust 13,704 13,884 Investment in Northbridge Capital Partners Ltd. 234 233 Investment in Northbridge Fund 2016 Limited Partnership 584 600 Investment in Network 2012 Limited Partnership 1,037 1,304 Investment in Maple Leaf Partnerships 3,530 3,530 Deferred income tax assets 648 623 19,737 20,174 CURRENT ASSETS Accounts receivables and other assets 123 1,637 Cash 3,393 1,642 3,515 3,279 Total assets 23,253 23,453 Liabilities CURRENT LIABILITIES Accounts payable and accrued liabilities 637 633 Total liabilities 637 633 Equity Shareholders’ equity 22,616 22,820 Total equity 22,616 22,820 Total liabilities and equity 23,253 23,453 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the three months ended March 31, (CDN $ Thousands) (unaudited) 2018 2017 Net income (loss) (597 ) 47 Items that may be reclassified to net income (loss) Share of other comprehensive income (loss) from equity accounted investees 387 (33 ) Change in fair value of Northbridge Fund 2016 (16 ) --- Deferred income tax expense (50 ) (2 ) Other comprehensive income (loss) 321 (35 ) Comprehensive income (loss) (276 ) 12 Comprehensive income (loss) attributable to: Owners of the Corporation (276 ) (23 ) Non-controlling interest --- 35 (276 ) 12 Executive Officers of the Corporation will be available at 403-705-8038 to answer any questions on the Corporation’s financial results.
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain statements included in this news release may constitute forward-looking statements or information under applicable securities legislation. Forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial conditions, expected financial results, performance, opportunities, priorities, ongoing objectives, strategies and outlook of the Corporation and its investee entities and contain words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or similar expressions and statements relating to matters that are not historical facts constitute “forward-looking information” applicable Canadian securities legislation.
While the Corporation believes the anticipated future results, performance or achievements reflected or implied in those forward-looking statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Corporation’s control, which may cause the actual results, performance and achievements of the Corporation anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
These risks and uncertainties include but are not limited to: the ability of management of Wilmington and its investee entities to execute its and their business plans; health, safety and environmental risks; uncertainties as to the availability and cost of financing; general economic and business conditions; the possibility that government policies or laws may change or governmental or regulatory approvals may be delayed or withheld; risks associated with existing and potential future law suits and regulatory actions against Wilmington; and other risks and uncertainties described in Wilmington's filings with Canadian securities regulatory authorities.
The foregoing list of important factors that may affect future results is not exhaustive. When relying on the forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, that may be as a result of new information, future events or otherwise. These forward-looking statements are effective only as of the date of this document.
Source: Wilmington Capital Management Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/09/globe-newswire-wilmington-announces-2018-first-quarter-results.html |
SHANGHAI/HONG KONG (Reuters) - Chinese companies are only gradually reducing the amount of shares pledged for loans despite curbs by regulators as part of efforts to reduce the risk the deals pose to market stability.
A man walks in front of Shanghai's financial district at the Bund promenade as snow falls in Shanghai, China January 26, 2018. REUTERS/Aly Song More than 100 companies still have more than 50 percent of their shares pledged, according to Reuters analysis of official data, despite a cap fixed at that level which was introduced two months ago.
The practice of borrowing against big blocks of shares - also known as margin lending - jumped sharply last year in China as company founders and large shareholders used rising markets to fund loans for personal use or company business. The loans are advanced at a discount of as much as 50 percent to the market price of the collateral.
Large pledges can risk destabilizing markets if borrowers cannot meet margin calls following price moves, leaving lenders free to dump the collateral - and to trigger a change of company ownership if the shareholding is large enough.
China’s securities regulator introduced new rules in March that prevent any transaction from raising the proportion of pledged shares to above 50 percent of total shares.
But in spite of new restrictions, including on brokers’ exposure as well as the 50-percent cap, a total of 131 companies with a combined market capitalization of 2.04 trillion yuan ($320.17 billion) still had more than 50 percent of their shares pledged as of the end of April.
Since the beginning of 2017, the number of listed Chinese firms with more than half their shares pledged has risen by 48 percent, according to analysis of China Depository Securities and Clearing data.
“A large number of listed firms changing ownership could cause instability in daily operations, which in turn could have a negative impact on share prices,” said Meng Shen, director of Chanson & Co, a boutique investment bank.
Controlling shareholders of at least 24 listed firms had pledged at least 90 percent of their shares as of early May, according to Reuters analysis of market data, heightening the risk of a change of control if markets fall.
Share-backed lending is common around the world, particularly in emerging markets where many companies are controlled by founding families.
Hong Kong regulators are also concerned about the scale of the borrowing. Julia Leung, deputy chief executive of the Securities and Futures Commission, said last week that there was HK$206 billion ($26.24 billion) worth of margin loans outstanding at the end of 2017, a nine-fold increase since 2006.
“It is not only the amount, but also the quality of the collateral that is concerning us,” she said.
Leung added that the watchdog was particularly concerned about borrowers pledging shares from smaller, thinly-traded companies. That can leave markets vulnerable to sharp unexplained price moves and also gives lenders less security in the event of company difficulties.
In the mainland as in Hong Kong, the use of pledged shares has been most pronounced among smaller firms, who often have less access to bank credit.
A total of 54 companies listed on Shenzhen’s tech-focused ChiNext board or its small and medium-sized enterprise board had more than 50 percent of their shares pledged - up 38 percent from 2016, when the practice waned following China’s market crash in 2015.
Banks this year began tightening lending standards ahead of the rule changes, following a stock market tumble in early February that saw shares suffer their worst one-day fall in almost two years.
China Merchants Bank, the country’s fifth-largest listed bank by market value, was one lender that did so, said two people with direct knowledge.
“The discount of 30 to 50 percent remains the same, but it’s tougher for an enterprise to qualify for this sort of loan,” said one of the people, adding that some smaller companies were now unable to get them.
Reporting by Engen Tham and Andrew Galbraith in Shanghai; Additional reporting by Alun John in Hong Kong and Shanghai newsroom; Editing by Jennifer Hughes and Philip McClellan
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-finance/chinese-firms-slow-to-reduce-share-backed-loans-despite-regulator-crackdown-idUSKBN1IA3IT |
May 24 (Reuters) - Orascom Development Holding AG:
* ORASCOM DEVELOPMENT HOLDING- SAYS CO’S UNIT, ORASCOM DEVELOPMENT EGYPT SELLS STAKE IN TAMWEEL GROUP AT TOTAL EQUITY VALUATION OF ABOUT CHF 20 MILLION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-orascom-development-holding-says-c/brief-orascom-development-holding-says-cos-unit-sells-stake-in-tamweel-group-for-about-chf-20-mln-idUSFWN1SV0YP |
MOSCOW, May 8 (Reuters) - Armenian interim Prime Minister Karen Karapetyan said on Tuesday he was stepping down, after parliament elected opposition leader Nikol Pashinyan to the role.
Pashinyan was elected as Armenia’s new prime minister on Tuesday, capping a peaceful revolution driven by weeks of mass protests against corruption and cronyism in the ex-Soviet republic.
Reporting by Hasmik Mkrtchyan; Editing by Polina Ivanova
| ashraq/financial-news-articles | https://www.reuters.com/article/armenia-politics-resignation/armenias-interim-pm-karapetyan-says-stepping-down-idUSR4N1S400N |
May 8, 2018 / 1:21 AM / in 30 minutes ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Men's Singles Seeds Progress Reuters Staff 3 Min Read May 8 (OPTA) - Seeds Progress from the ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Men's Singles matches on Monday .. Seeds .. Seed Round Rslt Opponent Score 1 Rafael Nadal (ESP) 2nd to play Gael Monfils (FRA) (start 08:00) 1st won (Bye) 2 Alexander Zverev (GER) 2nd to play (start 08:00) 1st won (Bye) 3 Grigor Dimitrov (BUL) 2nd to play Milos Raonic (CAN) (start 16:00) 1st won (Bye) 4 Juan Martin del Potro (ARG) 2nd to play Damir Dzumhur (BIH) (start 18:00) 1st won (Bye) 5 Dominic Thiem (AUT) 2nd to play Federico Delbonis (ARG) (start 08:00) 1st won (Bye) 6 Kevin Anderson (RSA) 2nd to play Mikhail Kukushkin (KAZ) (start 08:00) 1st won (Bye) 7 John Isner (USA) 2nd to play (start 08:00) 1st won (Bye) 8 David Goffin (BEL) 2nd to play (start 08:00) 1st won (Bye) 9 Pablo Carreno Busta (ESP) 1st to play Borna Coric (CRO) (start 12:00) 10 Novak Djokovic (SRB) 2nd to play (start 08:00) 1st won Kei Nishikori (JPN) 7-5 6-4 11 Roberto Bautista Agut (ESP) 1st to play Jared Donaldson (USA) (start 10:00) 12 Jack Sock (USA) 1st to play Pablo Cuevas (URU) (start 12:00) 13 Diego Schwartzman (ARG) 2nd to play Feliciano Lopez (ESP) (start 08:00) 1st won Adrian Mannarino (FRA) 6-1 6-3 14 Tomas Berdych (CZE) 1st lost Richard Gasquet (FRA) 6-4 6-2 15 Lucas Pouille (FRA) 1st lost Benoit Paire (FRA) 6-2 6-3 16 Fabio Fognini (ITA) 1st to play Leonardo Mayer (ARG) (start 10:00) (Note : all times are GMT) | ashraq/financial-news-articles | https://uk.reuters.com/article/tennis-atp-seeds-mens-singles/atp-world-tour-masters-1000-wta-premier-madrid-masters-mens-singles-seeds-progress-idUKMTZXEE58DYDHVF |
May 11, 2018 / 5:43 PM / Updated an hour ago UPDATE 2-English County Championship Division Two stumps on the first day of between Leicestershire and Glamorgan on Friday at Leicester, England Glamorgan trail Leicestershire by 109 runs with 10 wickets remaining Leicestershire 1st innings Michael Carberry c Chris Cooke b Michael Hogan 1 Paul Horton lbw Timm van der Gugten 7 Colin Ackermann c Michael Hogan b Timm van der Gugten 0 Mark Cosgrove lbw Marchant de Lange 14 Ateeq Javid c Chris Cooke b David Lloyd 13 Neil Dexter c Jack Murphy b Andrew Salter 87 Lewis Hill b Marchant de Lange 13 Ben Raine b Michael Hogan 2 Callum Parkinson c Nick Selman b Michael Hogan 30 Varun Aaron lbw Marchant de Lange 0 Gavin Griffiths Not Out 0 Extras 1b 14lb 8nb 0pen 1w 24 Total (69.1 overs) 191 all out Fall of Wickets : 1-9 Horton, 2-9 Ackermann, 3-9 Carberry, 4-33 Cosgrove, 5-45 Javid, 6-67 Raine, 7-147 Parkinson, 8-181 Hill, 9-191 Aaron, 10-191 Dexter Timm van der Gugten 15 5 42 2 2.80 1w Michael Hogan 16 3 41 3 2.56 David Lloyd 14 5 24 1 1.71 1nb Marchant de Lange 18 6 56 3 3.11 3nb Andrew Salter 6.1 3 13 1 2.11 Glamorgan 1st innings Nick Selman Not Out 39 Jack Murphy Not Out 32 Extras 4b 0lb 2nb 0pen 5w 11 Total (24.0 overs) 82-0 Ben Raine 9 4 17 0 1.89 Varun Aaron 7 0 32 0 4.57 1w 1nb Gavin Griffiths 3 1 18 0 6.00 Neil Dexter 3 1 7 0 2.33 Callum Parkinson 2 1 4 0 2.00 Umpire Michael Burns Umpire Peter Hartley | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-england-scoreboard/english-county-championship-division-two-scoreboard-idINMTZXEE5BKRQW4H |
May 9 (Reuters) - Amerigo Resources Ltd:
* AMERIGO ANNOUNCES Q1-2018 FINANCIAL RESULTS
* Q1 REVENUE $33.9 MILLION VERSUS $29.8 MILLION * Q1-2018 PRODUCTION WAS 14.2 MILLION POUNDS OF COPPER, 6% LOWER THAN THE 15.1 MILLION POUNDS PRODUCED IN Q1-2017
* CONTINUES TO EXPECT FULL YEAR PRODUCTION OF 65.0 TO 70.0 MILLION POUNDS OF COPPER AT A CASH COST OF $1.45 TO $1.60/LB
* CONTINUES TO EXPECT ANNUAL MOLYBDENUM PRODUCTION OF 1.5 MILLION POUNDS
* STRONGER PRODUCTION AND LOWER CASH COSTS ARE EXPECTED IN H2-2018
* QTRLY MOLYBDENUM PRODUCTION WAS 0.4 MILLION POUNDS Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-amerigo-resources-reports-q1-earni/brief-amerigo-resources-reports-q1-earnings-per-share-of-0-01-idUSASC0A0XP |
YANGON (Reuters) - A Myanmar policeman told a court on Wednesday he met two Reuters reporters on the night of their arrest in December, but denied giving them secret documents to incriminate them.
Myanmar police officer Naing Lin arrives at a court hearing in the case of Reuters journalists in Yangon, Myanmar May 16, 2018. REUTERS/Ann Wang His testimony contradicted a previous witness who last week said police had “set up” the pair.
“During my meeting with Wa Lone and Kyaw Soe Oo, I didn’t take anything from them and I didn’t give anything to them,” Police Lance Corporal Naing Lin told Judge Ye Lwin, overseeing the hearing at a court in Yangon.
“I went and met with Wa Lone because he called me and requested a meeting. I didn’t call Wa Lone and ask him to come meet me,” said Naing Lin, who said he met the Reuters reporters over dinner and was not accompanied by any other policeman.
A previous witness, Police Captain Moe Yan Naing, has told the court a police chief ordered Naing Lin and another policeman to give “secret” documents to Wa Lone in an operation to entrap him.
The court in Yangon has been holding hearings since January to decide whether Wa Lone 32, and his Reuters colleague Kyaw Soe Oo, 28, will be charged under the colonial-era Official Secrets Act, which carries a maximum penalty of 14 years in prison, for allegedly obtaining confidential documents.
At the time of their arrest, the reporters had been working on an investigation into the killing of 10 Rohingya Muslim men and boys in a village in western Myanmar’s Rakhine state. The killings took place during an army crackdown that United Nations agencies say sent nearly 700,000 people fleeing to Bangladesh.
The reporters have told relatives they were arrested almost immediately after being handed some rolled up papers at a restaurant in northern Yangon by two policemen they had not met before, having been invited to meet the officers for dinner.
Naing Lin said Wa Lone called him in December and introduced himself as a Reuters reporter, requesting an interview about his experiences in Rakhine, where Naing Lin’s Police Security Battalion 8 was stationed between April and November last year.
During the dinner, Wa Lone asked Naing Lin about the 10 murdered Rohingya, Naing Lin said.
During cross-examination, defence lawyer Than Zaw Aung said phone records show Naing Lin calling Wa Lone three times in the afternoon and the evening of Dec. 12, the day the pair were arrested.
Naing Lin said several times he did not call Wa Lone, and insisted it was the reporter who called and initiated the meeting.
Detained Reuters journalist Wa Lone is escorted by police before a court hearing in Yangon, Myanmar May 16, 2018. REUTERS/Ann Wang Lead prosecutor Kyaw Min Aung declined to comment after the hearing.
Myanmar government spokesman Zaw Htay was not immediately available for comment. After last week’s hearing he said that the courts were independent, and the case would be conducted according to the law.
POLICE WITNESS FIRED The previous witness, Captain Moe Yan Naing, has told the court that hours before the reporters were arrested, he was taken to the Battalion 8 compound with five other officers who had previously been contacted by Wa Lone, where they were interrogated by the police Special Branch.
When the officer in charge, Brigadier General Tin Ko Ko, found out that one of the six, Naing Lin, had been in contact with Wa Lone but had not met him in person, he ordered Naing Lin to use his phone to arrange a meeting with Wa Lone that evening, according to Moe Yan Naing.
He said Tin Ko Ko instructed Naing Lin to give Wa Lone documents related to Battalion 8 activities in Rakhine “in order to have him arrested”.
Since first giving testimony in April, Moe Yan Naing, 47, has been sentenced to a year in jail for violating police discipline. Police have said the sentence was not related to the account he gave in court.
At a news conference on Tuesday, Police Director General Aung Win Oo dismissed Moe Yan Naing’s testimony, saying Tin Ko Ko did not know the two reporters and that he did not order them to be set up. Reuters has been unable to contact Tin Ko Ko for comment.
At the end of Wednesday’s hearing Police Captain Myo Lwin, the officer in charge of escorting witnesses in custody to court, said Sergeant Khin Maung Lin, who was due to testify next week, had been fired from the police and his whereabouts were unknown. He did not elaborate further.
Both Moe Yan Naing and Naing Lin said Khin Maung Lin was among the six policemen who had had contact with Wa Lone before the arrest.
Detained Reuters journalist Kyaw Soe Oo, handcuffed, carries his daughter Moe Thin Wai Zin while arriving at a court hearing in Yangon, Myanmar May 16, 2018. REUTERS/Ann Wang The Ministry of Information said in December, after the journalists were detained, that Moe Yan Naing and Khin Maung Lin had also been arrested under the Official Secrets Act. No further information on the proceedings against Khin Maung Lin had been released since then.
Reporting Shoon Naing, Thu Thu Aung and Sam Aung Moon
| ashraq/financial-news-articles | https://in.reuters.com/article/myanmar-journalists/myanmar-policeman-denies-planting-documents-on-reuters-reporters-idINKCN1IH1TE |
Data dilemma: is global economy slowing, or not? 9:06am EDT - 01:45
German growth halved in the first quarter of the year due to weaker trade and less state spending, though analysts say they see it as a temporary blip. As David Pollard reports, the data came after China also reported weaker-than-expected investment and retail sales, clouding its economic outlook.
German growth halved in the first quarter of the year due to weaker trade and less state spending, though analysts say they see it as a temporary blip. As David Pollard reports, the data came after China also reported weaker-than-expected investment and retail sales, clouding its economic outlook. //reut.rs/2L50T7k | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/15/data-dilemma-is-global-economy-slowing-o?videoId=427115600 |
OPEC and Russia relationship is built to last, says strategist 11 Hours Ago Helima Croft, managing director and global head of commodity strategy at RBC Capital Markets discusses current geopolitical relations in the Middle East and their impact on oil, ahead of OPEC meeting in June. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/14/opec-and-russia-relationship-is-built-to-last-says-strategist.html |
(Repeats April 29 story with no change to text)
By John Tilak and Fergal Smith
TORONTO, April 29 (Reuters) - A rare outage at Canada’s major stock exchanges could dent the credibility of operator TMX Group Ltd and encourage investors to explore alternative trading channels, fund managers and traders told Reuters.
Canada’s stock market suffered a partial shutdown on Friday, forcing TMX to halt trading more than an hour early. TMX has since said the exchanges will resume trading on Monday after “internal technical issues” were resolved.
The outage sent investors to TMX competitors and exchanges in New York that listed Canadian companies, traders said. Some of Canada’s biggest companies - including the likes of Suncor Energy , Enbridge Inc and Barrick Gold - are listed both in Toronto and New York.
While the shutdown occurred on a low-volume trading day, it highlighted the technological challenges faced by exchanges such as TMX, and the risks to reputation that come with them.
“It is not a good thing for the exchange or the investors. It is lost business for TMX and lost credibility. It makes investors look elsewhere,” said David Cockfield, portfolio manager at Northland Wealth Management.
Cockfield said he expects traders to take defensive steps: “They will say, ‘Maybe I better establish alternative trading routes. If the TMX goes down on me again, I don’t want to be caught twice.’”
TMX’s exchanges in Canada, which include the Toronto Stock Exchange, Toronto Venture Exchange, TSX Alpha Exchange and the Montreal Exchange, account for about 61 percent of trading on the world’s sixth-largest stock market, according to official data.
‘DATA DARK AGES’ Some traders and fund managers said it was still too early to assess the full extent of the damage from Friday’s outage.
Jos Schmitt, chief executive of NEO Exchange, said no one wins from a shutdown.
“It is bad for the Canadian markets’ reputation overall,” Schmitt told Reuters, adding that he was concerned about what he saw as complacency over a lack of real-time market data.
“We need to solve the real industry-wide issues and we encourage the Canadian Securities Administrators to address these issues and help bring us out of the data dark ages,” Schmitt said.
TMX said on Saturday that the disruption was caused by a “hardware failure in a central storage appliance of the trading system”, and noted it was not the result of a hack.
Asked for additional comment on Sunday, a TMX spokeswoman referred to the company’s statement on Saturday.
“It puts people on heightened alert,” said Diana Avigdor, head of trading and portfolio manager at Barometer Capital Management. “The TMX has to manage damage by being very straightforward and clear with what backup systems they will have going forward.”
Canada’s stock market last suffered a major outage nearly a decade ago, when a system fault linked to data feeds shut down trading for a full day in December 2008, including on the small-cap TSX Venture Exchange.
Most of the trading volume on Friday was transferred to other markets, such as Chi-X, Pure Trading and MATCHNow, as well as to inter-listed stocks in the United States, said Peggy Bowie, senior trader at Manulife Asset Management.
Representatives for ChiX, Pure Trading and MATCHNow were not immediately available, or could not be reached, for comment on Sunday.
When asked on Friday whether the regulator was conducting an investigation into the outage, the Ontario Securities Commission said only that it was in contact with TMX. The OSC declined to comment on Sunday.
In Saturday’s statement, TMX chief executive Lou Eccleston apologized to clients and said the company was committed “to applying the lessons learned from this incident to help us prevent such issues from recurring in the future.” (Reporting by John Tilak and Fergal Smith; Editing by Denny Thomas and Daniel Wallis)
| ashraq/financial-news-articles | https://www.reuters.com/article/canada-stocks-tmx-grp-options/rpt-canada-stock-market-shutdown-pushes-investors-to-explore-options-idUSL1N1S60FS |
America’s food giants are shedding a generation of CEOs at a remarkable rate, the culmination of years of bleak sales in an industry that until recently, had gone unshaken for half a century.
Over the past two years, at least 16 major packaged-food and beverage chief executives have stepped down, according to a Wall Street Journal analysis. The departure of Campbell Soup Co. chief Denise Morrison earlier this month followed CEO changes at General Mills Inc., Mondelez International Inc., Kellogg Co., Nestle USA, Hershey Co.,... | ashraq/financial-news-articles | https://www.wsj.com/articles/packaged-food-companies-churn-through-ceos-desperate-for-fresh-ideas-1527598800 |
Symantec shed a third of its value Friday in the stock's worst day in 17 years.
Shares fell 33 percent percent to close at $19.52. At one point, shares fell as low as $18.85 — levels not seen since June 2016.
The cybersecurity company, which makes Norton anti-virus software, said Thursday it has launched an internal audit in response to concerns from a former employee.
The company did not elaborate , saying only that the investigation was not security-related.
"The investigation is in its early stages and the Company cannot predict the duration or outcome of the investigation," Symantec said in a statement.
A source familiar with the matter told Reuters it was separate from another investigation launched in November into the possible violations of federal securities laws in relation to its executive compensation awards.
show chapters Symantec beats, but issues poor guidance 20 Hours Ago | 00:47 After the announcement, at least eight third-party investor groups said they launched investigations into the company.
Rosen Law Firm, which represents one of the investor groups, said it is investigating whether Symantec "may have issued materially misleading business information to the investing public."
In addition, at least nine Wall Street analysts lowered their price targets for the stock.
Symantec executives declined to take questions from analysts during the company's earnings call. Symantec beat Wall Street estimates when it reported fourth quarter and full-year results Thursday.
"The fog created by an internal investigation of the company led by the audit committee of the board, with no semblance of detail provided to investors, overshadows everything else in Thursday's Q4 and FY 2018 earnings," BTIG analysts wrote in a note.
Friday's plunge is the company's second worst trading day sine going public in 1989. It slashed $6 billion off the company's market value, according to FactSet estimates of shares outstanding.
As of Friday's close, the stock is now down 37 percent in the 12-month period and is more than 40 percent off its 52-week high.
—CNBC's Ari Levy and Reuters contributed to this report. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/11/symantec-symc-loses-a-third-of-its-value-after-news-of-audit.html |
May 18 (Reuters) - Parallax Health Sciences Inc:
* PARALLAX HEALTH SCIENCES - ON MAY 14, PURSUANT TO UNANIMOUS RESOLUTION OF BOARDS OF ROXSAN PHARMACY AND CO, ROXSAN FILED CHAPTER 7 PETITION
* PARALLAX HEALTH SCIENCES INC - ROXSAN SEEKS TO DISCHARGE ABOUT $5 MILLION OF LIABILITIES OWED TO VARIOUS PARTIES INCLUDING MORE THAN $1 MILLION OWED TO CO
* PARALLAX HEALTH SCIENCES INC - ROXSAN IS A WHOLLY-OWNED SUBSIDIARY OF CO- SEC FILING
* PARALLAX HEALTH SCIENCES SAYS DUE TO ROXSAN CHAPTER 7 FILING, TIMOTHY YOO APPOINTED TRUSTEE ON MAY 15 Source text : ( bit.ly/2IUiUqM ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-parallax-health-sciences-says-roxs/brief-parallax-health-sciences-says-roxsan-filed-chapter-7-petition-idUSFWN1SP0UI |
May 7, 2018 / 2:15 PM / Updated 27 minutes ago Many states don't restrict pot possession by childcare workers Anne Harding 4 Min Read
(Reuters Health) - State regulations for early care and education centers may not do enough to prevent children from being exposed to marijuana, tobacco or alcohol, researchers say.
Parents want to be sure their child care provider is not impaired by marijuana, alcohol or tobacco, but “our research concludes that state laws may not in fact prevent this from happening,” Elyse R. Grossman of Johns Hopkins Bloomberg School of Public Health in Baltimore told Reuters Health in a telephone interview.
Grossman and her colleagues found that almost all states have banned tobacco use in child care settings. But only 13 states restrict marijuana possession, 17 restrict tobacco possession, and 20 restricted alcohol possession.
“Without these regulations, young children may accidentally find and consume these products,” the researchers write in the American Journal of Public Health.
Overall, the researchers found, states regulate tobacco, alcohol and marijuana more strictly in child care centers than in home-based child care.
Eight states and the District of Columbia have legalized recreational marijuana, but only five states have regulated it in childcare settings, Grossman and her team report.
Medical marijuana is legal in 29 states and in DC, but only half of those have such regulations in place.
“In some instances, new marijuana legalization laws actually contradict existing child-care regulations, which can result in unintended consequences that can put children in child care at risk,” Grossman said.
For example, she said, while both medical and recreational marijuana are legal in the state of Washington, the state bans home care providers from “having or using ‘illegal drugs’ on the premises or when working with or in the presence of children in care.”
She added, “It is important that states update their child care regulations and use precise language to better protect children from unintended exposure to marijuana or from impaired child care providers.”
Laws need to specify that marijuana be kept under a child-safe lock if it is being stored at a home-based child care provider, Grossman said. “Some states simply require products to be out of reach or inaccessible to children, versus locked, and I think that’s important. If it’s going to be allowed in a home, if it’s someone’s home that they are providing child care out of, then at least it needs to be locked away and very strictly kept where children cannot get to it.”
The question of whether a childcare provider or worker legally authorized to use medical marijuana should be able to do so while on the job is “a tough issue,” she added. “It makes a difference how much is getting used and whether the caregiver is impaired.”
Parents living in states with legal marijuana, medical or recreational, should ask their child care provider about the facility’s own policy on marijuana, she said, as well as about state laws regarding marijuana in the child care setting.
For example, she suggests, “Will the child care provider be smoking marijuana (either medical or recreational) around the children? Can the child care provider smoke while on a break from supervising the children? Will marijuana (either medical or recreational) be stored in the child care facility? If so, how will the child care provider ensure that the children do not access it?”
“Communication between parents and child care providers is essential,” Grossman said.
SOURCE: bit.ly/2jvYjKK American Journal of Public Health, online April 19, 2018. | ashraq/financial-news-articles | https://uk.reuters.com/article/us-health-childcare-illicit-substances/many-states-dont-restrict-pot-possession-by-childcare-workers-idUKKBN1I81J6 |
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5/9/2018 6:13PM Jetpack Creator on the Fun and Fear of Flying CEO and chief pilot of Jetpack Aviation David Mayman sported his jetpack on stage at the Future of Everything festival on Wednesday. The "flying man" spoke with WSJ Personal Tech Columnist Joanna Stern about the development of the jetpack and whether it has any practical use. | ashraq/financial-news-articles | http://www.wsj.com/video/jetpack-creator-on-the-fun-and-fear-of-flying/6896E6B4-FD2F-4C45-8D80-F78E16B6A4B0.html |
Dow Jones, a News Corp company News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Dow Jones | ashraq/financial-news-articles | http://jp.wsj.com/articles/SB10528640866126653972104584250964013532426 |
LONDON (Reuters) - Commodities-related revenue at the 12 biggest investment banks in the first quarter jumped 48 percent year on year driven by the U.S. energy sector and commodity indices, consultancy Coalition said on Thursday.
Revenue from commodity trading, selling derivatives to investors and other activities in the sector climbed to $1.2 billion, the financial industry analytics firm said in a report.
“Significantly higher U.S. power and gas results were driven by improved market conditions and some one-off transactions,” Coalition said.
“Investor products benefited from increased institutional client appetite for commodity indices.”
The rise in the first quarter comes after years of falling revenue in the sector for top banks, including a 42 percent fall last year to its lowest since at least 2006.
Revenue in the commodities sector at the 50 biggest investment banks was $4.3 billion last year, the lowest in more than a decade and down from $15.9 billion in 2008 at the peak of the commodities cycle, according to Coalition.
Banks’ commodity revenue has been on a steady downward path in recent years as they have exited or slimmed down their commodity businesses due to heightened government regulation and poor performance from the sector.
Many banks posted strong first-quarter results although typically they do not give figures for commodities.
One of the top commodity banks, Morgan Stanley, reported record first-quarter profit last month thanks to a surge in trading activity, much like other Wall Street banks, but executives warned results through the rest of the year may not be quite as strong.
Coalition tracks Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Societe Generale and UBS.
Reporting by Eric Onstad; editing by Jason Neely
| ashraq/financial-news-articles | https://www.reuters.com/article/us-banks-commodities-revenue/top-banks-first-quarter-commodities-revenue-jumps-48-percent-report-idUSKCN1IO3GQ |
April 30 (Reuters) - Builders Capital Mortgage Corp:
* . REPORTS 2017 FOURTH QUARTER AND FULL-YEAR RESULTS
* Q4 EARNINGS PER SHARE C$0.20 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-builders-capital-mortgage-reports/brief-builders-capital-mortgage-reports-q4-eps-c0-20-idUSASC09YEF |
CALGARY, Alberta, May 10, 2018 (GLOBE NEWSWIRE) -- Essential Energy Services Ltd. (TSX:ESN) (“Essential”) announced that at its annual general meeting of shareholders on May 10, 2018 each of the six nominees proposed as directors and listed in the information circular (“Circular”) dated March 26, 2018 were elected as directors. Detailed results of the vote are set out below.
VOTES FOR VOTES WITHHELD Nominee Number Percent Number Percent Garnet K. Amundson 57,044,382 86.02% 9,269,978 13.98% James A. Banister 57,070,553 86.06% 9,243,804 13.94% Michael J. Black 43,954,480 66.28% 22,359,877 33.72% Robert T. German 57,069,253 86.06% 9,245,104 13.94% Nicholas G. Kirton 57,075,379 86.07% 9,238,978 13.93% Robert B. Michaleski 57,057,379 86.04% 9,256,978 13.96% All other resolutions provided for in the Circular were passed and a report on the voting results for all matters has been posted under Essential’s profile on SEDAR at www.sedar.com .
ABOUT ESSENTIAL
Essential provides oilfield services to oil and natural gas producers, primarily in western Canada. Essential offers completion, production and abandonment services to a diverse customer base. Services are offered with coil tubing, fluid and nitrogen pumping and the sale and rental of downhole tools and equipment. Essential offers the largest coil tubing fleet in Canada. Further information can be found at www.essentialenergy.ca .
The TSX has neither approved nor disapproved the contents of this news release.
For further information, please contact: Garnet K. Amundson President and CEO Phone: (403) 513-7272 [email protected] Karen Perasalo Investor Relations Phone: (403) 513-7272 [email protected]
Source: Essential Energy Services Ltd. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-essential-energy-services-announces-election-of-board-of-directors.html |
Police and protesters clash at Paris public worker demonstration Tuesday, May 22, 2018 - 00:46
Protesters clash with police in Paris as civil servants take to the streets to join nationwide protests against work conditions. Rough cut (no reporter narration).
Protesters clash with police in Paris as civil servants take to the streets to join nationwide protests against work conditions. Rough cut (no reporter narration). //reut.rs/2KLvt4R | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/22/police-and-protesters-clash-at-paris-pub?videoId=429356643 |
Smouldering lava deposits scattered across Hawaii's Big Island 9:10am EDT - 02:10
Emergency crews said they were poised to evacuate more people as fissures kept spreading from Hawaii’s erupting Kilauea volcano, five days after it started exploding. ▲ Hide Transcript ▶ View Transcript
Emergency crews said they were poised to evacuate more people as fissures kept spreading from Hawaii’s erupting Kilauea volcano, five days after it started exploding. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2KOnAfA | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/08/smouldering-lava-deposits-scattered-acro?videoId=424967469 |
May 8 (Reuters) - SunPower Corp:
* QTRLY NON-GAAP REVENUE $398.9 MILLION VERSUS $429.5 MILLION
* QTRLY GAAP LOSS PER SHARE $0.83 * QTRLY NON-GAAP LOSS PER SHARE $0.20
* NOW EXPECTS FISCAL YEAR 2018 ADJUSTED EBITDA TO BE IN RANGE OF $75 TO $125 MILLION
* SEES Q2 2018 GAAP REVENUE OF $360 MILLION TO $410 MILLION
* FISCAL YEAR 2018 ADJUSTED EBITDA GUIDANCE ASSUMES A $55 MILLION NEGATIVE IMPACT RELATED TO TARIFFS ASSOCIATED WITH SECTION 201 TRADE CASE
* ON A NON-GAAP BASIS, COMPANY EXPECTS REVENUE OF $375 MILLION TO $425 MILLION FOR Q2 2018
* Q1 REVENUE VIEW $359.3 MILLION — THOMSON REUTERS I/B/E/S * SUNPOWER-2018 ADJUSTED. EBITDA GUIDANCE ALSO ASSUMES ABOUT $50 MILLION REDUCTION OF NON-CONTROLLING INTEREST INCOME FROM ANTICIPATED SALE OF LEASE PORTFOLIO
* Q2 REVENUE VIEW $436.9 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-sunpower-reports-qtrly-gaap-loss-p/brief-sunpower-reports-qtrly-gaap-loss-per-share-0-83-idUSASC0A0N9 |
261 COMMENTS President Donald Trump’s decision to walk away from the nuclear deal his predecessor negotiated with Iran represents a giant gamble, easily the biggest of his presidency so far.
More precisely, the move represents a series of gambles—bets that Iran’s leaders, its economy and its people, as well as America’s allies and even the leader of North Korea, will react the way the president hopes. Mr. Trump may well win those bets, but the dangers that would accompany a loss are quite high.
The core of the president’s gamble is that a renewal of full-bore economic sanctions on Iran will be enough to compel its leaders back to the table to renegotiate the nuclear deal completed during President Barack Obama’s term. In fact, Mr. Trump flatly predicted Iran’s leaders will do exactly that.
Alternatively, his calculation appears to be that a resumption of full-bore American pressure will so disrupt a weak Iranian economy—already reeling from rising prices, a falling currency and a long drought—that the result will be growing dissatisfaction and internal unrest that threatens the very survival of the regime.
Related Video President Trump announced Tuesday that the U.S. will withdraw from the Iran nuclear deal and reinstate sanctions on Tehran. He called the deal "defective" and said it didn't do enough to stop the country from developing nuclear weapons. Mr. Trump didn’t say he wants his move to bring regime change in Tehran, but with his references to the “murderous” government in Iran and his declaration that “the future of Iran belongs to its people,” he walked to the edge of calling for it. The risk, though, is that the Iranian people instead rally around their government now that it faces a renewed threat from America.
The further gamble is that U.S. allies in France, Britain and Germany, who have pleaded for a different course from the president, will cooperate in a new wave of economic sanctions rather than rebel and move out to construct a new relationship of their own with Iran. Such European defiance could undercut the pressure Mr. Trump is trying to create and ultimately isolate the U.S. rather than Iran.
The president’s pledge to impose sanctions on any nation that helps Iran targets America’s allies as much as the regime in Tehran, and could produce a sanctions fight not just with Iran, but also with allies.
In addition, Mr. Trump is taking a chance that Iran won’t simply respond by resuming full-bore nuclear activity , turning back on the hundreds of centrifuges it still possesses to produce the enriched uranium that the West fears would put it on the path toward nuclear-weapons capability. European leaders are urging the Iranians to react calmly, without precipitous action, but hard-liners in Tehran may instead seize the moment to revive actions they never wanted to halt in the first place.
Iranian lawmakers set a paper U.S. flag ablaze in parliament in Tehran on Wednesday, shouting, “Death to America!” Photo: /Associated Press Mr. Trump is further betting that North Korean leader Kim Jong Un, with whom he meets in a matter of weeks, will take away from his announcement the lesson the president wants—which is that an Iran-style deal that slows rather than eliminates Pyongyang’s nuclear program won’t be deemed sufficient. The risk is that North Korea will take away an alternative lesson, which is that the U.S. can’t be counted on to live up to deals its leaders make.
Above all, Mr. Trump’s decision represents a gamble that the heightened tensions with Iran that now are at hand won’t escalate into conflict —with the U.S., with Israel or with Saudi Arabia.
“The worst case is that Iran restarts selected nuclear activities, and either Israel or the U.S. determines that is unacceptable, uses military force and Iran responds in any number of ways around the region or around the world with all its tools,” said Richard Haass, president of the Council on Foreign Relations. Those tools, he notes, include terrorism and cyberwarfare.
Indeed, after Mr. Trump’s move, “the ball is now essentially in Iran’s court as to how this crisis evolves,” says Suzanne Maloney, an Iran expert at the Brookings Institution. “I think the likely short-term approach will seek to maximize whatever diplomatic and economic restitution may be on offer from Europe.”
Related
U.S. Pullout From Iran Pact Widens Mideast Gulf Trump’s Iran Sanctions Put Oil Giants in a Bind How Fast Could Iran Build a Nuclear Bomb Saudi Arabia Pledges to Support ‘Stability of Oil Markets’ But, she adds, “Tehran has a wide range of options available for demonstrating that its leverage on the ground in conflicts in Yemen, Syria, Iraq, and elsewhere across the region is at least as formidable as U.S. economic leverage.”
Finally, Mr. Trump is gambling that his tough line on Iran will convince others in the region that the U.S. will remain adamant and unyielding in its insistence that Iran won’t ever be allowed to possess nuclear weapons. The president said that will help ensure that others in the region don’t set out to acquire nuclear weapons of their own, and seek to beat Iran to the punch as they do so.
The risk there, of course, is that the reverse could happen. Iran could now respond with a burst of new nuclear activity, Mr. Haass says, prompting Saudi Arabia and potentially others to break away from the global Nuclear Nonproliferation Treaty and begin their own march toward nuclear arms.
Write to Gerald F. Seib at [email protected] | ashraq/financial-news-articles | https://www.wsj.com/articles/trumps-iran-deal-withdrawal-is-his-biggest-gamble-yet-1525812976 |
May 17, 2018 / 10:58 AM / Updated an hour ago Zombies no more: Lending revival opens new chapter for Hungary's banks Reuters Staff
* Central bank sees 4-7 pct credit growth per year through 2020
* Rising wages, low unemployment, tighter rules help loan quality
* Turnaround plays into PM Orban’s efforts to accelerate growth
By Gergely Szakacs
BUDAPEST, May 17 (Reuters) - After almost a decade in the doldrums, Hungary’s banks look set for years of lending growth that could help Prime Minister Viktor Orban’s efforts to keep the economy growing at a rate of 4 percent.
Banks’ growing loan books suggest they are finally emerging from years of tackling writedowns, the unloading of toxic assets and punitive government measures.
A Reuters survey of five major domestic banks showed all expect double-digit credit growth this year.
The turnaround will play into Orban’s hands as the premier, re-elected for a third term in April, embarks on a new stimulus programme to lift economic growth to 4 percent per year in his new term, double the average since his return to power in 2010.
For the first time since Orban took office, the central bank’s financial conditions index, a measure of whether bank lending activity supports or hinders economic growth, inched into positive territory at the end of 2017.
That is a far cry from the malaise that ensued after Orban slapped banks with a hefty tax and various measures to help borrowers at the start of the decade, precipitating a plunge in lending that led a top banker to dub local lenders “zombies.”
Banks in Hungary say the current boom is driven by pent-up demand for loans, lower household debt levels than in richer European countries, and recent big wage hikes, all of which boost borrowers’ ability to service their debt.
“Mortgage lending has come a long way over the past years, and, recovering from a state of hibernation, we can now consider it a normally functioning market,” said Gabor Rajna, sales director at K&H Bank, Hungary’s second-largest lender by assets.
“We expect double-digit growth in the coming years, driven on the one hand by higher loan sizes due to rising real estate prices, as well as a growing number of transactions.”
Orban, who has expanded domestic ownership of the banking sector, is under pressure to boost growth as the latest Eurostat figures show Hungary lags most of its neighbours in terms of gross domestic product per capita, a gauge of living standards.
The Czech Republic and Slovakia lead eastern Europe in GDP per capita with 17,200 euros and 15,000 euros respectively, while Poland has caught up with Hungary at 11,800 euros based on 2017 data.
With banks firmly back in the black and demand for loans increasing due to a real estate boom and rising wages, the stage appears set for Hungary’s banks to turn the page on their past struggles.
“We expect a further expansion of the private sector credit stock on the forecast horizon, at an annual pace of about 4 to 7 percent through 2020,” the central bank told Reuters, adding that the corporate segment would outpace retail lending.
“This is largely in line with the projected evolution of nominal GDP, therefore, the credit-to-GDP gap is expected to close beyond the forecast horizon,” it said. The bank expects no overheating in lending in coming years. STABLE FOOTING
The strengthening economy has also helped put lending on a more stable footing, as central bank data showed the proportion of distressed mortgages has plunged to 0.4 percent of loans issued since 2013.
OTP, central Europe’s largest independent lender, posted a 23-percent increase in first-quarter net profit, helped by a plunge in risk costs and stronger lending after a recent batch of acquisitions.
“We will do everything to boost our loan stock in Hungary to the biggest extent possible,” Deputy Chief Executive Laszlo Bencsik said. “Our activity is growing very dynamically.”
While demand in the Czech Republic is showing signs of a slowdown due to rising borrowing costs and tighter regulations, most banks in Hungary expect new mortgage issuance to rise by a double-digit margin this year.
The Czech Banking Association expects household lending growth, dominated by mortgages, to slow to 5.8 percent in 2018 and 5.5 percent in 2019 from 8 percent in 2017.
“The buoyant economy will spur a recovery in lending growth to about 10 percent in both 2018 and 2019,” credit rating agency Moody’s said. “Small and mid-sized companies and households will lead the demand for credit, but lending to large corporates will also pick up from weak levels.”
Mihaly Patai, the head of Hungary’s Banking Association, has said the sector could expect a return on equity of about 10 percent in the coming years, above a 7 percent EU-wide average, according to European Banking Authority data from 2017.
State-owned Budapest Bank sees a 30-40 percent increase in consumer and mortgage lending this year and said growth in these areas could exceed 15 percent in the next four to five years.
“A substantial amount of slack was amassed in retail lending in the past years,” the bank said.
Raiffeisen Bank sees a 25 to 35 percent rise in new retail loans this year, while CIB, the local unit of Intesa SanPaolo, projects 20 percent growth in the mortgage market this year. MKB Bank said last year’s “significant increase” in mortgage lending would continue in the coming years.
While the Czech and Romanian central banks have already started raising rates to combat price pressures, the National Bank of Hungary expects inflation to reach its target only by mid-2019, which allows it to keep interest rates at record lows. That also boosts cheap credit.
In addition, a rising number of fixed-rate loans is seen curbing risks from an expected normalisation of European interest rates. Reporting by Gergely Szakacs Additional reporting by Jason Hovet in PRAGUE and Marton Dunai in BUDAPEST Editing by Hugh Lawson | ashraq/financial-news-articles | https://www.reuters.com/article/hungary-economy-lending/zombies-no-more-lending-revival-opens-new-chapter-for-hungarys-banks-idUSL8N1SB3CJ |
May 17, 2018 / 11:19 PM / Updated 5 hours ago Gawker site finds bidder after court approves settlement with billionaire Thiel Jessica DiNapoli 2 Min Read
(Reuters) - The co-founder of New York-based marketing firm Didit is interested in buying gossip website Gawker Media LLC out of bankruptcy after a U.S. judge on Thursday approved a settlement with the investor Peter Thiel, whose funding of a lawsuit against Gawker forced it to close in 2016. FILE PHOTO - PayPal co-founder and Facebook board member Peter Thiel delivers his speech on the U.S. presidential election at the National Press Club in Washington, U.S., October 31, 2016. REUTERS/Gary Cameron/File Photo
A bid by Kevin Lee, co-founder and executive chairman of Didit, has set a floor price for other potential buyers in a bankruptcy auction, according to people familiar with the matter.
As part of the settlement approved by Judge Stuart Bernstein of the U.S. Bankruptcy Court in New York on Thursday, Thiel Capital LLC agreed to drop its bid to buy Gawker and its archives and also agreed to release claims against any eventual buyer.
The settlement was originally proposed when Thiel abandoned his effort to buy the defunct site last month.
“We remain interested in Gawker.com and if we prevail, (we) plan to relaunch Gawker as Gawker For Good, using ad revenues to donate to non-profits,” Lee, a search engine marketing expert, said in a statement.
Lee declined to comment on making the initial offer to buy the site in the upcoming bankruptcy auction.
The sources requested anonymity to discuss a matter that was not public.
Gawker did not immediately respond to a request for comment.
In 2012 Thiel helped fund a lawsuit filed by professional wrestler and actor Hulk Hogan against Gawker after it published a video showing Hogan, whose real name is Terry Bollea, engaged in a sexual encounter. Bollea won a $140 million (£103.5 million) judgement against Gawker, leading to its bankruptcy.
Hogan later settled for $31 million, and is entitled to 45 percent of the proceeds from asset sales, according to court papers.
After Gawker’s bankruptcy, some of the website’s related businesses, including the Deadspin sports website and feminist blog Jezebel, were bought by Univision Holdings Inc, the Spanish language broadcaster, for $135 million in 2016. Reporting by Jessica DiNapoli in New York; Editing by Clive McKeef | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-gawker-m-a-kevinlee/gawker-site-finds-bidder-after-court-approves-settlement-with-billionaire-thiel-idUKKCN1II34E |
BAGHDAD (Reuters) - Iraqi President Fuad Masum expressed regret on Wednesday over the decision by President Donald Trump to pull the United States out of an international accord that aims to curb Iran’s nuclear program.
Masum also welcomed the decision of the other signatories of the agreement, including Iran and European nations, to stick with the 2015 deal despite the U.S. pullout.
Shi’ite-led Iraq lies on the faultline between Shi’ite Iran and the mostly Sunni Muslim Arab world. Iran became the main foreign power broker in Iraq after the withdrawal of U.S. forces in 2011, with its local allies controlling the security services.
“The (nuclear) agreement marked a major achievement in bolstering the chances of peace and progress for all the states of the region and the international community,” Masum said in a statement, the first official Iraqi reaction to Trump’s move.
Trump said on Tuesday that the 2015 deal, which lifted sanctions on Iran in return for measures restricting its nuclear program, did not go far enough in removing the threat posed by Iran to the United States and its allies in the Middle East.
Masum is an ethnic Kurd and his position as president of the Iraqi republic is largely ceremonial. The executive powers in the country are concentrated in the hands of the prime minister, Haider al-Abadi, who belongs to the Shi’ite Arab majority.
During his four-year term in office, Abadi has cautiously trodden a diplomatic middle course between Tehran and Washington, ensuring the cooperation of both in the war against Islamic State hardline Sunni militants.
Abadi is seeking a second term in elections due on Saturday. He is facing two allies of Iran, ex-prime minister Nuri al-Maliki and Shi’ite militia leader Hadi al-Amiri.
Reporting by Maher Chmaytelli; editing by Gareth Jones
| ashraq/financial-news-articles | https://www.reuters.com/article/us-iran-nuclear-iraq/iraq-president-regrets-trump-decision-to-withdraw-from-iran-accord-idUSKBN1IA1LL |
BEIJING (Reuters) - China’s foreign exchange regulator said on Friday that it will steadily push forward with the convertibility of its capital account, and at the same time fend off risk from cross-border capital flows.
FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo The head of the State Administration of Foreign Exchange (SAFE), Pan Gongsheng, made the comments in a meeting with foreign companies on Thursday on deepening China’s foreign exchange reforms and improving business conditions.
Foreign firms that participated in the meeting in Beijing included HSBC PLC ( HSBA.L ), Standard Chartered ( STAN.L ), DBS ( DBSM.SI ), Deutsche Bank ( DBKGn.DE ), auditing firm PricewaterhouseCoopers LLP, BMW ( BMWG.DE ) and Schneider Electric [SCELIA.UL].
President Xi Jinping pledged in April to further widen access to the country’s economy this year, as China marks the 40th year of its opening up.
In recent weeks, China said it will resume two key outbound investment schemes, allowing domestic financial institutions to invest in overseas securities.
The suspension of those outbound investment schemes came after gyrations in Chinese stock and currency markets in 2015 prompted a capital flight that led Beijing to burn its vast foreign exchange reserves by nearly $1 trillion to shore up the yuan and reduce outflows.
China had also stepped up its crackdown on outbound investment deals that authorities suspected were highly speculative and were being used to circumvent capital controls.
Over the past year, Chinese equities have steadied while the yuan CNY=CFXS has gained sharply against the dollar, easing worries over potentially destabilizing capital flight.
Outbound investment deals have also seen double-digit growth in the first quarter this year after falling 29.7 percent in 2017.
China’s forex regulator last month also widened the quotas of two other outbound investment schemes in Shanghai and Shenzhen as part of the government’s efforts to liberalize financial markets.
Reporting by Stella Qiu and Ryan Woo; Editing by Sam Holmes and Kim Coghill
Our | ashraq/financial-news-articles | https://www.reuters.com/article/us-china-forex/china-says-will-steadily-push-forward-capital-account-convertibility-idUSKBN1I507Z |
May 4 (Reuters) - Ainsworth Game Technology Ltd:
* EXPECTS 2HFY18 PROFIT BEFORE TAX, EXCLUDING CURRENCY MOVEMENTS TO BE AROUND $20 MILLION
* SEES PROFIT BEFORE TAX FOR FY18 NOW EXPECTED TO BE ABOUT $36 MILLION COMPARED TO $57.4 MILLION IN FY17 Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-ainsworth-game-technology-now-expe/brief-ainsworth-game-technology-now-expects-h2-profit-before-tax-to-be-around-20-mln-idUSFWN1SA1HA |
May 15 (Reuters) - UrtheCast Corp:
* DEIMOS IMAGING AWARDED CONTRACT EXCEEDING USD $2.6M BY THE BRAZILIAN MINISTRY OF DEFENCE
* DEIMOS IMAGING HAS ENTERED INTO A CONTRACT WITH BRAZILIAN MINISTRY OF DEFENCE’S AERONAUTICS COMMAND EXCEEDING $2.6 MILLION Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-deimos-imaging-awarded-contract-ex/brief-deimos-imaging-awarded-contract-exceeding-2-6-mln-by-brazilian-defence-ministry-idUSFWN1SM1FY |
trial@ (Adds that no company besides J&J was found liable, comment by plaintiff lawyer)
May 24 (Reuters) - A California jury on Thursday ordered Johnson & Johnson to pay $4 million in punitive damages to a woman who said she developed cancer after being exposed to asbestos in the company's baby powder, pushing the total damages award in the case to $25.7 million.
The decision in Los Angeles Superior Court comes on top of $21.7 million in compensatory damages that the same jury awarded to the woman and her husband on Wednesday.
Joanne Anderson, 68, was diagnosed with mesothelioma, a form of cancer closely linked to asbestos exposure. The case marked the second trial loss for J&J over similar allegations.
J&J has denied that its talc products contain asbestos or cause cancer, citing decades of testing by independent laboratories and scientists. But plaintiffs claim asbestos and talc, which are closely linked minerals, are intermingled in the mining process, making it impossible to remove the carcinogenic substance.
Of Wednesday's $21.7 million in compensatory damages, J&J was assigned 67 percent of the liability, Anderson's lawyer, Chris Panatier, said.
The jury found that the remaining percentage came from Anderson being a bystander to her husband's work on asbestos-containing brakes.
In addition to J&J, Anderson and her husband last year sued a unit of Imerys SA, Cyprus Amax Minerals, a unit of Brenntag, Honeywell International and other talc suppliers. But all of those companies were dismissed from the lawsuit.
"Our clients are hopeful that this verdict can further bring light to this unbelievable example of corporate misconduct," David Greenstone, a colleague of Panatier, said in a statement.
J&J in a statement said it was disappointed with the decision and would begin the appeals process. "We will continue to defend the safety of our product because it does not contain asbestos or cause mesothelioma," the company said.
J&J is battling some 9,000 cases claiming its talc products cause ovarian cancer, but the talc litigants have recently focused on claims based on alleged asbestos contamination.
A New Jersey state court jury in April ordered J&J and Imerys Talc America to pay $117 million to a man who alleged he developed mesothelioma due to asbestos exposure from J&J Baby Powder.
An appeal is pending.
A California jury in November last year cleared J&J of liability in another mesothelioma lawsuit.
The company and Imerys' U.S. unit, as well as a unit of U.S. drugstore chain Rite Aid, are also facing another mesothelioma trial in a South Carolina court. (Reporting by Tina Bellon in New York; Editing by Cynthia Osterman) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/24/reuters-america-update-1-jj-must-pay-4-mln-in-punitive-damages-in-latest-asbestos-cancer-trial.html |
April 30(Reuters) - Bus Online Co Ltd
* Sees to swing to net loss at 120 million yuan to 180 million yuan in FY 2018 H1 versus net profit at 21.3 million yuan year ago
Source text in Chinese: goo.gl/tBP2b6
Further company coverage: (Beijing Headline News)
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-bus-online-to-swing-to-loss-in-fy/brief-bus-online-to-swing-to-loss-in-fy-2018-h1-idUSL3N1S73US |
May 19, 2018 / 7:07 PM / Updated an hour ago Abt wins home Berlin Formula E race in Audi one-two Reuters Staff 2 Min Read
BERLIN (Reuters) - German driver Daniel Abt won his home Berlin round of the Formula E championship in an Audi one-two on Saturday while Jean-Eric Vergne finished third to stretch his overall lead to 40 points. Motor Racing - Formula E - Berlin E-Prix - Flughafen Tempelhof, Berlin, Germany - May 19, 2018 Audi Sport Abt Schaeffler's Daniel Abt celebrates winning the race REUTERS/Fabian Bimmer
Frenchman Vergne, who races for the Chinese-owned Techeetah team, now has 162 points to 122 for DS Virgin Racing’s British driver Sam Bird, who finished seventh after 45 laps of the circuit at the city’s old Tempelhof airport.
Abt, who started on pole position and set the fastest lap, beat Brazilian team mate and reigning champion Lucas di Grassi across the line by 6.758 seconds for his second victory in the all-electric series.
Audi were only the second Formula E team to score a one-two finish. Slideshow (3 Images)
“An Audi one-two — our best over result — and a home win for me, a super result,” Abt said.
There are three races remaining this season, with the next round in Zurich, Switzerland, on June 10 before the final two in New York in July.
Germany’s now-retired 2016 Formula One champion Nico Rosberg earlier returned to the track to drive several laps in the Gen2 Formula E car that will debut later this year when the new season starts. Reporting by Alan Baldwin, editing by Ed Osmond | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-motor-electric-germany/abt-wins-home-berlin-formula-e-race-in-audi-one-two-idUKKCN1IK0RZ |
(Adds strategist Quote: s and details on BoC interest rate decision, updates prices) * Canadian dollar at C$1.2876, or 77.66 U.S. cents * Bank of Canada leaves policy interest rate at 1.25 percent * U.S. oil prices rise 1.6 percent * Bond prices lower across the yield curve By Fergal Smith TORONTO, May 30 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart by the most in more than two months on Wednesday after the Bank of Canada left interest rates on hold but boosted expectations for a hike at its next policy meeting in July. The central bank left its benchmark interest rate at 1.25 percent, as expected, but dropped cautious language about future rate moves in a signal that higher borrowing costs are on the way. "We are pretty comfortable calling for a July hike," said Andrew Kelvin, senior rates strategist at TD Securities. "This reads a little bit more upbeat than previous communiques have." The Bank of Canada has hiked three times since last summer. Chances of further tightening in July jumped to around 70 percent from less than 50 percent before the announcement, the overnight index swaps market indicated. At 10:58 a.m. EDT (2000 GMT), the Canadian dollar was trading 1.1 percent higher at C$1.2876 to the greenback, or 77.66 U.S. cents, its biggest gain since March 21. The currency, which on Tuesday touched a more than two-month low at C$1.3047, notched its strongest since May 24 at C$1.2853. The price of oil, one of Canada's major exports, was supported by tight supplies despite expectations OPEC and its allies will pump more in the second half of 2018. U.S. crude prices were up 1.6 percent at $67.80 a barrel. The U.S. dollar fell against a basket of major currencies after reports that Italy's biggest party would make a renewed attempt to form a coalition government and end months of political turmoil helped the euro recover some recent lost ground. Canada's current account deficit widened to C$19.50 billion in the first quarter, the third largest ever, thanks to a growing international trade gap in goods, Statistics Canada said. In separate data, Canadian producer prices rose by 0.5 percent in April from March, the fourth consecutive increase, on higher prices for energy and petroleum products. Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The 10-year declined 55 Canadian cents to yield 2.253 percent. On Tuesday, the 10-year yield touched its lowest since April 11 at 2.165 percent. (Reporting by Fergal Smith Editing by Bill Trott and Tom Brown)
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President Trump talks more tax cuts 2 Hours Ago President Trump says there will be additional tax cuts before November and "taxi king" Michael Cohen pleads guilty to low level felony, reports CNBC's Eamon Javers. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/23/trump-talks-more-tax-cuts.html |
ST PETERSBURG (Reuters) - Russian tycoon Oleg Deripaska, major shareholder in aluminum producer Rusal, has asked the Russian government to start state purchases of aluminum from Rusal, a senior Russian government source said on Thursday.
FILE PHOTO: Oleg Deripaska, En+ Group's major shareholder, attends an agreement signing ceremony with the Krasnoyarsk region's government, in Moscow, Russia December 12, 2017. REUTERS/Sergei Karpukhin/File Photo The United States announced sanctions on Deripaska and Rusal on April 6, preventing customers with U.S. exposure from continuing to buy Rusal’s metal and sending aluminum prices to their highest in almost seven years amid fears of a supply shortage.
The government source said Deripaska had also asked for state support for car maker GAZ and had applied for loans for Rusal from Promsvyazbank, a lender that has been taken over by the Russian central bank.
Russian authorities have approved the loan for GAZ, but no decision has yet been made on the loan request for Rusal, the government source said.
GAZ was also sanctioned by the United States.
Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Andrew Osborn
| ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-russia-sanctions-deripaska/oleg-deripaska-asks-russian-state-to-buy-aluminum-from-rusal-government-source-idUSKCN1IP2S6 |
Billionaire entrepreneur Elon Musk, unhappy with media coverage of Tesla Inc., said he plans to create a Yelp.com-like site to let people rate the credibility of journalists and news organizations, and suggested he would name it after the former Soviet Union’s main propaganda outlet.
The Tesla chief executive, who frequently issues provocative comments on Twitter, made the proposal in a tweetstorm against the media Wednesday, after reports in recent weeks about Tesla’s struggles to increase production of its Model 3 sedan,... RELATED VIDEO Highlights From Elon Musk's Combative Tesla Earnings Call Tesla Inc. stocks and bonds fell after an unusual earnings call on May 2 threatened investors’ faith at a pivotal time for the company. These are the highlights. Photo: Reuters/Joe Skipper | ashraq/financial-news-articles | https://www.wsj.com/articles/elon-musks-latest-proposal-a-website-named-pravda-to-rate-media-credibility-1527116737 |
WESTLAKE, Texas, May 30, 2018 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ:GSHD) announced today that it will report its first quarter 2018 results after the market closes on Wednesday, June 6, 2018.
The company will hold a conference call to discuss results at 5:00 PM ET on that day. The dial-in number for the conference call is (844) 898-2795 (toll-free) or (210) 874-7848 (international). Please dial the number 10 minutes prior to the scheduled start time. A live webcast of the conference call will also be available on Goosehead’s investor relations website at http://ir.gooseheadinsurance.com .
A replay will be available following the end of the call through Wednesday, June 13, 2018, by telephone at (855) 859-2056 (toll-free) or (404) 537-3406 (international), passcode 2581635. A webcast replay of the call will be available at http://ir.gooseheadinsurance.com for one year following the call.
About Goosehead
Goosehead (NASDAQ:GSHD) is an independent personal lines insurance agency that distributes its products and services throughout the United States. Goosehead represents over 80 insurance companies that underwrite personal lines and small commercial lines risks, and its operations include a network of seven corporate sales offices and over 400 franchise locations. For more information, please visit www.gooseheadinsurance.com .
CONTACTS
Investor Contact:
Garrett Edson
ICR
Phone: (214) 838-5145
E-mail: [email protected]
Media Contact:
Scott Tangney/Nicole Hakimi
ICR
Phone: (646) 277-1299
E-mail: [email protected]
Source:Goosehead Insurance, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/30/globe-newswire-goosehead-insurance-inc-to-report-first-quarter-2018-results-on-wednesday-june-6-2018.html |
Certified financial planner David Rae says he used to think that "anyone who could draw breath" could get an auto loan. Then one of his millionaire clients tried to buy a car — and failed.
The 42-year-old client was turned down for a loan because he had no credit scores , says Rae, who is based in Los Angeles.
Nineteen million American adults are "unscoreable," lacking enough recent credit history to generate credit scores, according to the Consumer Financial Protection Bureau. They either have "thin" files, with too few accounts, or "stale" ones that haven't been updated in a while.
Roughly 7 million of these people are what credit scoring company FICO calls "credit retired." They no longer actively use credit, but their histories are free from charge offs, collections or other negative marks that might indicate that "their exit from the credit mainstream was involuntary," says Ethan Dornhelm, FICO's vice president for scores and predictive analytics.
HAVING NO SCORES CAN COST YOU
These consumers can face a host of potential problems, including:
- People without scores could be shut out of credit they might want in the future, including rewards credit cards and low-cost loans.
- Insurers typically use credit-based scores to set premiums for auto and home insurance, so not having credit could cause those without scores to miss out on lower rates.
- People with no credit scores may not qualify for the best cell phone plans and may have to make bigger deposits to get utilities.
The median age of these credit retirees is 71, Dornhelm says. They may have retired from work, paid off their homes and feel no need to borrow money. But the credit retired also can include younger people, including those who live cash-only lifestyles.
CREDIT SCORES CAN DIE FAST
They may not realize that credit scores can die relatively quickly. While closed accounts in good standing typically remain on credit reports for 10 years, lenders often stop updating those accounts soon after they're closed. Without updates, scores can't be generated. The FICO scoring formula used in most lending decisions requires peoples' credit reports to show at least one account that's been updated within the previous six months.
The rival VantageScore looks back somewhat further, 24 months, for updated accounts. VantageScore and FICO's alternative formula, FICO Score XD, also generate scores for people based on their histories paying noncredit accounts, such as telecommunications and cable bills. But applicants typically can't know in advance if a lender uses VantageScore or an alternative score, so they should assume it will be a traditional FICO score.
USING ONE CREDIT CARD CAN SAVE THE DAY
The key to reviving traditional scores? Having and using a single credit card is enough, as long as the card issuer reports to all three credit bureaus (most do). Balances can and should be paid in full each month, since there's no credit score advantage to carrying debt.
Rae's client was a renter whose only credit card was tied to his business. Business credit cards often don't show up on individuals' credit reports. Rental payments are included on some credit reports, but they're not factored into the most commonly used FICO credit scores.
So Rae had his client apply for a secured credit card, which required a $500 deposit to get a $500 credit limit. After four months, the client applied for a regular credit card from his bank. His healthy account balances helped convince the bank he was a good bet, Rae says.
Having lots of assets or making big down payments can help the credit retired get approved for many types of credit, notes Jeff Richardson, vice president of communications for VantageScore. Credit unions, which are member-owned, may also be willing to look beyond credit scores when making lending decisions, Richardson says.
Two months after being approved for the credit card, Rae's client got a car loan. And a year after that, he got a mortgage to buy a multimillion-dollar home, Rae says.
"It's all good . but it was rough and a big hassle at the beginning," Rae says.
This column was provided to The Associated Press by the personal finance website NerdWallet .
Liz Weston is a columnist at NerdWallet, a certified financial planner and author of "Your Credit Score." Email: [email protected] . Twitter: @lizweston.
RELATED LINK:
NerdWallet: Credit score ranges: How do you compare? https://nerd.me/compare-credit-score-ranges | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/07/the-associated-press-dont-let-your-credit-die-of-neglect.html |
This is why you should keep betting on the banks: Technician 18 Hours Ago Chris Verrone, Strategas Research Partners, makes his case for investors to keep buying the banks. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, David Seaburg and Guy Adami. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/22/this-is-why-you-should-keep-betting-on-the-banks-technician.html |
(Reuters) - Belgian David Goffin was pushed to three sets by Marco Cecchinato in the second round of the Italian Open on Tuesday before bouncing back to beat the Italian wild card 5-7 6-2 6-2 on a rain-interrupted day in Rome.
FILE PHOTO: Tennis - ATP 1000 - Madrid Open - Madrid, Spain - May 10, 2018 Belgium's David Goffin in action during his third round match against Great Britain's Kyle Edmund REUTERS/Sergio Perez Goffin, the ninth seed, got off to a strong start, getting an early break and opening up a 5-1 lead in the first set before abruptly losing momentum and surrendering the next six games in a row to concede the opener tamely.
The 27-year-old rediscovered his touch in the second set, getting two early breaks of serve as Cecchinato’s confidence eroded and he ran away with the decider before sealing victory on his second match point with a sizzling crosscourt forehand.
Goffin will meet either big-serving Argentine Juan Martin del Potro or young Greek sensation Stefanos Tsitsipas in the next round.
Tennis - ATP World Tour Masters 1000 - Italian Open - Foro Italico, Rome, Italy - May 15, 2018 Ryan Harrison of the U.S. in action during his second round match against Croatia's Marin Cilic REUTERS/Tony Gentile Tsitsipas, 19, progressed after his first-round opponent Borna Coric retired hurt while 4-1 down in the first set.
Unseeded Denis Shapovalov stunned 15th-seed Tomas Berdych in the first round, with the 19-year-old’s 1-6 6-3 7-6(5) victory ensuring he will become the top-ranked Canadian in the world when the revised ATP rankings are released on Monday.
Slideshow (4 Images) “I’m a little bit in shock,” Shapovalov said after being informed he would leapfrog compatriot and former world number three Milos Raonic in the rankings.
“It’s crazy that it’s come so early... It’s a reason to keep working, keep staying motivated and hopefully I can keep going.”
Shapovalov will meet Dutchman Robin Haase in the second round.
Argentine Diego Schwartzman, the 14th seed, advanced to the second round after a regulation 6-4 6-1 victory over Chilean qualifier Nicolas Jarry, while Spaniard Fernando Verdasco was beaten 6-3 6-1 by Bosnia’s Damir Dzumhur.
Rain delayed play at the start of the day before disrupting things at the end, with fourth seed Marin Cilic’s second round match against American Ryan Harrison suspended with the players level at 3-3 in a first set tiebreak.
Reporting by Simon Jennings in Bengaluru; Editing by Toby Davis
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/us-tennis-rome-men/goffin-battles-past-cecchinato-to-advance-in-rainy-rome-idUSKCN1IG3EU |
May 31, 2018 / 2:53 PM / a few seconds ago Russia's Mechel says board recommends 2017 dividends of 16.66 rbls/share Reuters Staff 1 Min Read
MOSCOW, May 31 (Reuters) - Russian metals and mining group Mechel said on Thursday its board had recommended 2017 dividends of 16.66 roubles ($0.2680) per preferred share. $1 = 62.1725 roubles Reporting by Anastasia Lyrchikova Writing by Gabrielle Tétrault-Farber Editing by Vladimir Soldatkin | ashraq/financial-news-articles | https://www.reuters.com/article/russia-mechel-dividends/russias-mechel-says-board-recommends-2017-dividends-of-16-66-rbls-share-idUSR4N1SW052 |
Lowe's keeps targets despite sales miss Wednesday, May 23, 2018 - 00:57
Lowe's posted disappointing quarterly earnings, blaming bad weather. But as Fred Katayama reports, the home improvement retailer is maintaining its annual profit forecast.
Lowe's posted disappointing quarterly earnings, blaming bad weather. But as Fred Katayama reports, the home improvement retailer is maintaining its annual profit forecast. //reut.rs/2GImb7o | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/23/lowes-keeps-targets-despite-sales-miss?videoId=429620418 |
2 Hours Ago | 03:37
Investors thrown off balance by swirling markets this year now face a new wrinkle: a sudden outbreak of normalcy.
This year stocks went from an unprecedented uphill sprint in January to a nasty stumble in February, followed by months of flailing, disoriented struggle.
But in the past couple of weeks, stocks have stabilized as a rush of strong earnings provided support and investors made a tentative peace with somewhat higher interest rates.
This return to a sort of normalcy can be seen from a few different angles.
The Cboe Volatility Index on Wednesday closed below 14 for the first time since late January. While there is no special technical significance to a VIX of 14 or lower, it is below its long-term average and reflects a calmer, less agitated market no longer spurring traders to pay up heavily for downside protection.
Whether cause, effect or simply coincident indicator, when the VIX ticked below 14 at midday Wednesday, the S&P 500 lifted off for what would be nearly a 1 percent one-day gain as traders took it as a further sign that the recent index lows should hold for now.
The turmoil since early February has mostly been an equity-specific affair, as stock prices became dangerously stretched to the upside and so did valuations and investor overconfidence. Yet the jumpiness in stocks did send a mild flutter of concern through corporate-credit markets as well.
This chart of the risk spread in "junk" bonds – measuring the extra yield over Treasuries that investors demand to accept their higher risk of default – shows the spread rising in February. They are now virtually back to where they were near the start of the year, which is to say near the tightest (that is, strongest) readings of this entire economic cycle.
So long as the capital markets remain confident about the credit profile of Corporate America, it's tough to see too much immediate damage done to the broad stock market.
So far in May, the market is also back to largely shrugging off what seem to be jarring headlines yet have little bearing on the long-term value of companies and cash flows.
When President Trump announced his decision to withdraw from the Iran-nuclear agreement Tuesday, the markets merely hesitated and then resumed a gentle uptrend. The various investigations and revelations about the president's personal and political circle have been met with no discernible response.
And within the market, stocks and sectors are responding in their own way to news most relevant to them rather than the swinging around in unison as one monolithic blob.
This chart of "implied correlation" shows the degree to which stocks are moving purely together with the index or along their own path. The recent decline back toward levels of last year shows a break in the fever of "risk-on/risk-off" trading.
The character of the sector interplay is also a bit more "normal." In recent days we've seen shades of the elegant-seeming rotation among stronger or weaker groups that kept the market in a balanced, measured uptrend last year. Technology, financials, industrials, transportation stocks and energy have lately been leaders, offset by the yield-centric defensive sectors including utilities and consumer staples.
All else being equal, that leadership profile shows a market comfortable with the underpinnings of the economy.
None of this is to say the market has worked through all its issues and is destined for a quick return to or beyond the old highs. This remains a fairly prolonged setback and the S&P 500 remains more than 5 percent from its January peak.
While the market has tried to come to terms with somewhat higher rates, $70 oil, a firmer U.S. dollar and a Fed determined to tighten policy steadily, any of these issues could cross a tripwire of concern before too long. And a "normal" market could still very well encounter the common summer storminess ahead of the mid-term elections.
Still, the steadier action and more logical interaction among various market segments indicates that investors no longer feel over-exposed to stocks, the crowd's expectations have been reset lower and the fundamentals are acceptable at current valuations. At least for now. WATCH: We've made peace with 3% yield show chapters | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/10/markets-and-investors-face-a-sudden-outbreak-of-normalcy.html |
May 23, 2018 / 6:22 AM / Updated 3 minutes ago France says U.S. Iran strategy will reinforce conservatives Reuters Staff 1 Min Read
PARIS (Reuters) - France’s foreign minister said on Wednesday he disagreed with the United States’ decision to scrap the Iran nuclear deal and warned that its method of adding more sanctions on Tehran would reinforce the country’s hardliners. French Foreign Affairs Minister Jean-Yves Le Drian attends a meeting on the International Partnership against Impunity for the Use of Chemical Weapons, in Paris, France, May 18, 2018. Christophe Petit-Tesson/Pool via Reuters/File Photo
“We disagree with the method because this collection of sanctions which will be set up against Iran will not enable dialogue and on the contrary it will reinforce the conservatives and weaken President Rouhani. This posture risks endangering the region more,” Jean-Yves Le Drian told France Inter radio.
He said Paris would continue to implement the agreement even if it did agree with the U.S. that Iran’s ballistic missile activity and regional hegemonic ambitions needed to be curbed. Reporting by John Irish; Editing by Geert De Clercq | ashraq/financial-news-articles | https://www.reuters.com/article/us-iran-nuclear-france/france-says-u-s-iran-strategy-will-reinforce-conservatives-idUSKCN1IO0KU |
Special counsel Robert Mueller asked a judge Thursday to issue 70 blank subpoenas that will be used to compel the appearance of witnesses at the upcoming criminal trial of former Trump campaign manager Paul Manafort .
The request comes a week after a judge tossed out a civil lawsuit filed by Manafort that had challenged Mueller's authority.
Manafort is charged with tax crimes and bank fraud in the federal case set to begin trial July 10 in Alexandria, Va. The alleged crimes are related to work he did on behalf of a political party in Ukraine that leaned toward Russia, as well for as former Ukraine president Viktor Yanukovych.
Manafort faces an even broader array of charges pending in a separate but related case in Washington, D.C., where he is scheduled to go on trial in September.
The names of the people expected to be subpoenaed for appearance at trial were not revealed.
In addition to a blank space for their names, also left blank was the section that instructs them to "bring with you the following documents, electronically stored information, or objects."
Manafort's co-defendant, Rick Gates, pleaded guilty in February to the reduced charges of one count of conspiracy against the United States and a single count of making a false statement . Gates also worked on the Trump campaign.
Manafort and Gates are just one of a number of people targeted by Mueller, who was originally tasked with investigating Russian interference in the 2016 presidential election.
WATCH: Mueller focuses on links between Roger Stone & Rick Gates show chapters Mueller focuses on links between Roger Stone and Trump campaign aide Rick Gates 3:24 PM ET Thu, 3 May 2018 | 00:57 | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/03/robert-mueller-seeks-subpoenas-for-trial-of-paul-manafort.html |
May 15, 2018 / 12:51 PM / Updated an hour ago Turkey's pro-Kurdish opposition seeks release of jailed presidential candidate Reuters Staff 3 Min Read
ANKARA (Reuters) - Turkey’s pro-Kurdish opposition applied on Tuesday for its jailed presidential candidate to be released before next month’s snap election, saying the detention of Selahattin Demirtas jeopardised voter freedom. Meral Aksener, opposition Iyi (Good) Party leader and a presidential candidate in the June 24 presidential snap election, greets her supporters during a campaing rally in Ankara, Turkey May 14, 2018. REUTERS/Stringer
This month, the Peoples’ Democratic Party (HDP) nominated Demirtas, who has been in prison for about 17 months on security charges and faces a jail sentence of up to 142 years if convicted, as its candidate in the June election.
Turkey’s High Electoral Board has approved his candidacy and Demirtas is running his presidential campaign from behind bars.
The HDP said it had filed an appeal for the release of Demirtas, the party’s former leader, saying the imprisonment of a candidate violated electoral law and jeopardised voter freedom.
Demirtas, a former human rights lawyer, has expanded HDP’s support beyond its traditional Kurdish base by appealing to secular, left-leaning Turks. He has also won support from some other opposition candidates, such as nationalist Meral Aksener.
“He is not someone who has been convicted,” Aksener, the head of the Iyi (Good) Party, told reporters. “Let’s say he is freed three months after elections, how will Turkey explain the competitive inequality during the campaigning period then?”
Her comments were notable as nationalists and pro-Kurdish politicians rarely find common ground in Turkey. Meral Aksener, opposition Iyi (Good) Party leader and a presidential candidate in the June 24 presidential snap election, addresses her supporters during a campaing rally in Ankara, Turkey May 14, 2018. REUTERS/Stringer
The presidential candidate from the main opposition Republican People’s Party (CHP), Muharrem Ince, has also called for the release of Demirtas.
The HDP commands only about 10 to 12 percent of support from the electorate, so Erdogan faces a bigger challenge from Aksener and Ince in the polls.
Aksener, a former interior minister, founded her Iyi Party after splitting with the nationalist MHP party, which backs Erdogan.
This election will herald the switch to a powerful executive presidency narrowly approved in a referendum last year.
Aksener said that if the anti-Erdogan alliance were to obtain a majority in parliament, it would immediately move to revert to a parliamentary system, taking necessary constitutional changes to a referendum as soon as possible.
Polls have indicated that a first round victory for Erdogan is unlikely, despite very limited media coverage for opposition candidates, raising prospects of a second round vote between the top two candidates from the previous round.
Turkish media is saturated with coverage of Erdogan and his ministers, with the president’s daily routine of two or three speeches being broadcast on all major channels, while opposition parties receive little to no coverage. Reporting by Tuvan Gumrukcu and Gulsen Solaker; Editing by David Dolan and Edmund Blair | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-turkey-election/turkeys-pro-kurdish-opposition-seeks-release-of-jailed-presidential-candidate-idUKKCN1IG1UG |
ZURICH, May 24 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent higher at 8,817 points on Thursday, according to premarket indications by bank Julius Baer .
Here are some of the main factors that may affect Swiss stocks:
UBS UBS has appointed leaders for its Greater China business which is being formed by merging its China-focused investment banking teams, according to an internal memo seen by Reuters on Thursday.
NOVARTIS The Swiss drugmaker said its Sandoz division received approval from the European Commission for its biosimilar Zessly (infliximab) in gastroenterological, rheumatological and dermatological diseases.
For more, click on
VONTOBEL, RAIFFEISEN SCHWEIZ Swiss private bank and asset manager Vontobel is buying private bank Notenstein La Roche from Swiss cooperative bank Raiffeisen for 700 million Swiss francs ($705.08 million), the two parties said on Thursday.
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COMPANY STATEMENTS * Aryzta said it lowered its expectations for full-year 2018 earnings before interest tax depreciation amortisation (EBITDA) by 9-12 percent after third-quarter EBITDA margins did not meet management expectations. It also announced plans for reduce costs by 200 million euros over three years.
* Bell Food Group said it holds 98.09 percent of Huegli shares after its public tender offer.
* Landis+Gyr and Pacific Equity Partners announced a joint venture to acquire metering business Acumen from Origin Energy Limited. The joint venture has raised over 500 million Australian dollars ($378.35 million) to finance the rollout of smart meters in Australia.
* SHL Telemedicine said it appointed Hava Shechter as a new Board Member, effective immediately.
* WISeKey announced a partnership with smartphone manufacturer Highscreen International to develop WISePhone, a secure Blockchain mobile phone.
* Ypsomed said net profit rose 13 percent to 52.1 million Swiss francs in 2017/18.
* Zur Rose said its DocMorris pharmacy will cooperate with omnichannel pharmacy apo-rot.
$1 = 1.3215 Australian dollars Reporting by Zurich newsroom
| ashraq/financial-news-articles | https://www.reuters.com/article/markets-swiss-stocks/swiss-stocks-factors-to-watch-on-may-24-idUSL5N1SU5DX |
May 10 (Reuters) - Diana Shipping Inc:
* . REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2018
* QTRLY TIME CHARTER REVENUES $48.4 MILLION VERSUS $31.3 MILLION
* QTRLY LOSS PER SHARE $0.04 * Q1 EARNINGS PER SHARE VIEW $-0.13, REVENUE VIEW $45.8 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-diana-shipping-reports-qtrly-loss/brief-diana-shipping-reports-qtrly-loss-per-share-of-0-04-idUSASC0A1C4 |
NEW YORK, May 19, Pomerantz LLP announces that a class action lawsuit has been filed against Macquarie Infrastructure Corporation ("Macquarie" or the "Company") (NYSE: MIC) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 18-cv-03744, is on behalf of a class consisting of investors who purchased or otherwise acquired Macquarie's securities between February 22, 2016, and February 21, 2018, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased Macquarie's securities between February 22, 2016, and February 21, 2018, both dates inclusive, you have until June 25, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com . To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here to join this class action]
Macquarie Infrastructure Corporation owns, operates, and invests in a portfolio of infrastructure businesses. The Company's businesses consist of bulk liquid terminals, airport services, gas processing and distribution, and a portfolio of contracted power and energy investments. Macquarie's International-Matex Tank Terminals ("IMTT") business provides bulk liquid storage and handling services at 12 marine terminals in the United States and Canada, is Macquarie's most important business segment.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) IMTT's performance and utilization were at risk of significant decline due to ongoing industrywide changes in the market for heavy residual oils, and in particular, declining demand and pricing for No. 6 fuel oil; (ii) IMTT relied significantly on demand for storage of heavy residual fuel oils, including No. 6 fuel oil; (iii) Macquarie needed to undertake significant capital expenditures to repurpose IMTT storage tanks to accommodate alternative products; and (iv) as a result of the foregoing, Macquarie's shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
On February 21, 2018, after the market closed, Macquarie surprised the market by announcing disappointing fourth-quarter earnings of $0.43 per share, well short of analysts' estimate of $0.51 per share, and that the Company would be slashing its dividend by 31%. Macquarie blamed its poor performance on the declining use of heavy residual oil products, declining demand and prices for No. 6 fuel oil.
On this news, Macquarie's share price fell $26.21, or 41.19%, to close at $37.41 on February 22, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 Ext. 9980
releases/shareholer-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-macquarie-infrastructure-corporation-of-class-action-lawsuit-and-upcoming-deadline--mic-300650741.html
SOURCE Pomerantz LLP | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/19/pr-newswire-shareholer-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-macquarie-infrastructure.html |
May 11, 2018 / 7:37 PM / Updated 6 hours ago Hungary talent show for young classical musicians taps Domingo for global appeal Reuters Staff 3 Min Read
BUDAPEST/NEW YORK (Reuters) - Placido Domingo, one of the world’s most famous opera singers, is backing a classical music talent show for children, aiming to bring the Hungarian television contest to an international audience. Opera singer Placido Domingo speaks during an event at the Manhattan School of Music in New York, U.S., May 11, 2018. REUTERS/Shannon Stapleton
The Spanish-born tenor has become a shareholder in UK-based company, Virtuosos Holding Ltd, which has the international rights of the show and its spin-offs, its founder and chief executive Mariann Peller said in New York on Friday.
The show, which is one of Hungary’s most popular, makes classical music accessible by showcasing young undiscovered talent.
US company Fulwell 73 also joins in by acquiring rights of production and distribution for the international version of the show in the US and Britain. Fulwell has produced hit TV series Sounds Like Friday Night, The Late Late Show and Roast Battle. Mariam Abouzahra practices on violin at home in Budapest, Hungary, May 3, 2018. REUTERS/Bernadett Szabo
“I have been incredibly impressed by the talent discovered in Hungary and am sure this will be repeated in other countries as the format finds new audiences and new lovers of classical music,” Domingo, who is director general of the Los Angeles Opera, said in a statement.
“He has supported Virtuosos since conception and has been a true inspiration to the talented young people we have discovered,” Peller said in the statement. Slideshow (7 Images)
Violinist Amira Abouzahra, 12, who won the contest last year in the youngest category, said the show motivates young people.
“They see others play and want to be better than the others so they practice a lot more,” she said in her Budapest home where she was practicing. Abouzahra, whose mother is Hungarian and her father is from Egypt, started playing aged four.
The show’s most popular contestants are given the chance to take part in a global tour performing at some of the world’s most prestigious venues including New York’s Carnegie Hall.
Peller told Reuters the show aimed to give a modern and fresh appeal to classical music by featuring young talent.
“Classical music is a little bit dusty by now and we wanted to dust it off,” Peller said. Reporting by Krisztina Fenyo; Writing by Krisztina Than; Editing by Matthew Mpoke Bigg | ashraq/financial-news-articles | https://uk.reuters.com/article/us-television-virtuosos-placido-domingo/hungary-talent-show-for-young-classical-musicians-taps-domingo-for-global-appeal-idUKKBN1IC2FY |
Zuckerberg: We need to design technology to help bring people together 50 Mins Ago | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/01/zuckerberg-we-need-to-design-technology-to-help-bring-people-together.html |
May 4, 2018 / 1:07 PM / Updated 7 minutes ago BRIEF-Rambus, GigaDevice, THG Ventures Form Joint Venture, Reliance Memory, to Develop RRAM Reuters Staff 1 Min Read
May 4 (Reuters) - Rambus Inc:
* RAMBUS SAYS A JV IN CHINA, RELIANCE MEMORY, HAS BEEN FORMED TO COMMERCIALIZE RESISTIVE RANDOM ACCESS MEMORY TECHNOLOGY, WITH PARTNER GIGADEVICE
* RAMBUS - RELIANCE MEMORY FORMED ALONG WITH STRATEGIC INVESTMENT PARTNERS THG VENTURES, WEST SUMMIT CAPITAL, WALDEN INTERNATIONAL & ZHISLAND CAPITAL Source text for Eikon: Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-rambus-gigadevice-thg-ventures-for/brief-rambus-gigadevice-thg-ventures-form-joint-venture-reliance-memory-to-develop-rram-idUSFWN1SB136 |
May 1 (Reuters) - Ecolab Inc:
* ECOLAB FIRST QUARTER REPORTED DILUTED EPS $0.84 ADJUSTED DILUTED EPS $0.91, +14%; RAISED FULL YEAR 2018 ADJUSTED DILUTED EPS FORECAST TO $5.30 TO $5.50 +13%-18%
* REMAIN CONFIDENT IN OUTLOOK FOR A STRONG YEAR IN 2018 * “BUSINESS MOMENTUM HAS IMPROVED, WHILE HEADWINDS FROM HIGHER DELIVERED PRODUCT COSTS REMAIN SIGNIFICANT AND WILL THROUGHOUT THE YEAR”
* QTRLY REPORTED NET SALES BASED ON PUBLIC CURRENCY RATES $3,470.9 MILLION VERSUS $3,162.4 MILLION
* ADOPTION OF NEW REVENUE RECOGNITION STANDARD EXPECTED TO HAVE $0.01 UNFAVORABLE IMPACT ON FULL YEAR ADJUSTED DILUTED EPS
* Q1 EARNINGS PER SHARE VIEW $0.89, REVENUE VIEW $3.38 BILLION — THOMSON REUTERS I/B/E/S
* EXPECT SPECIAL CHARGES IN 2018 TO BE $0.12 TO $0.15 PER SHARE
* FY2018 EARNINGS PER SHARE VIEW $5.35 — THOMSON REUTERS I/B/E/S
* ECOLAB - ADJUSTED TAX RATE WAS 22.0% IN Q1 OF 2018 VERSUS 24.9% LAST YEAR, DECREASE IN ADJUSTED TAX RATE WAS PRIMARILY DRIVEN BY CHANGES IN U.S. TAX LAW Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-ecolab-sees-q2-2018-adjusted-earni/brief-ecolab-sees-q2-2018-adjusted-earnings-per-share-1-23-to-1-29-idUSASC09YLD |
FAIRFAX, Va., May 31, 2018 /PRNewswire/ -- Salient CRGT, Inc. today announced the promotion of Claire Morse from Director of Human Resources to Vice President of People and Culture. In her new role, Morse will assume leadership of Salient CRGT's Human Resources (HR) department.
Morse joined Salient CRGT in 2015 as Director of Human Resources, overseeing HR service delivery, HR Business Partners, and HR Administrators across the company's diverse business units. She successfully led the company's post-merger program integration. Earlier in her career, Morse worked as an Attorney and Consultant specializing in business law and fair employment practices. More recently, Morse led global HR teams at a large multinational engineering firm, where she architected and implemented compelling strategies focused on diversity, inclusion, employee engagement, and culture transformation.
Prior to joining Salient CRGT, Morse served as Executive Director, Employee Relations at ManTech International Corporation transforming employee relations in a fast-paced environment from reactive to proactive by developing more than a dozen classroom and electronic-based training modules aimed at strengthening supervisory skills and interpersonal, relationship management, and diversity competencies.
"The new title of this position says it all – building and supporting our People and our Culture. We have a renewed focus here at Salient CRGT on investing in our people that serve our customers each and every day and supporting a culture that nurtures success and innovation," said Tom Ferrando, President and CEO of Salient CRGT. "Claire is perfect for this role. Her enthusiasm is contagious and I can't wait to kick off new initiatives to strengthen the complexion of our great company."
About Salient CRGT
Salient CRGT provides agile software development, health, data analytics, mobility, cyber security and infrastructure solutions. We support these core capabilities with full lifecycle IT services and training—to help our customers meet critical goals for pivotal missions. We are purpose built for IT transformation supporting federal civilian, health, defense, homeland, and intelligence agencies, as well as Fortune 1000 companies. We use the most innovative talent delivery model in the industry, scientifically providing exactly the right people for the customers' most pressing requirements. Salient CRGT has earned a record of success with integration and operations of large‐scale, high‐volume solutions. Visit our newsroom and explore www.salientcrgt.com .
Tweet : @Salient_CRGT Announces VP of People and Culture promotion to support continued growth and success http://bit.ly/1MGSz5l
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SOURCE Salient CRGT, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/pr-newswire-salient-crgt-announces-vice-president-of-people-and-culture-promotion-to-support-continued-growth-and-success.html |
ABC announced on Tuesday that it would cancel the hit sitcom "Roseanne" following "abhorrent" comments from the show's star, Roseanne Barr , who had compared former Obama advisor Valerie Jarrett to an ape.
Just an hour later, Barr's talent agency ICM Partners dropped her as a client, the firm confirmed to CNBC.
Barr's swift downfall comes after a year of successes, including record ratings for her show's debut and a congratulatory call from the president. Throughout, however, Barr has attracted criticism for her use of social media to provoke, attack, and spread conspiracy theories.
"Roseanne's Twitter statement is abhorrent, repugnant and inconsistent with our values, and we have decided to cancel her show," Channing Dungey, president of ABC Entertainment, said in a statement Tuesday.
In a since-deleted tweet, Barr said of Jarrett: "muslim brotherhood & planet of the apes had a baby=vj."
Critics immediately slammed Barr's remark as racist. Likening black people to apes is an attack commonly used by racists. The Muslim Brotherhood, meanwhile, is an Islamist political group. Barr had apologized for her comments earlier in the day and said she would be refraining from using her Twitter account, which was still live at the time of publication.
The CEO of ABC's parent company, the Walt Disney Co. , agreed with the decision to cancel the series.
"You can't debate what is morally right," Bob Iger said in an interview with CNBC's David Faber minutes after the announcement.
Iger said there was no debate internally about what to do. He discussed the cancellation with Ben Sherwood, president of the Disney-ABC Television Group, and other executives, according to Faber.
"There was only one thing to do here, and that was the right thing," Iger said in a tweet that quoted Dungey's statement.
MSNBC tweet
Iger called Jarrett ahead of the announcement to tell her the show would be canceled, according to MSNBC.
"This should be a teaching moment," Jarrett said during the taping of "Everyday Racism in America," a special airing at 9 pm ET on the news network.
In March, Sherwood told The New York Times that "you can't control Roseanne Barr." "Many who have tried have failed. She's the one and only."
Iger tweet
Dungey, who announced that the show would be canceled, is the first black head of a major broadcast TV network, the Associated Press reported when she was tapped to lead ABC in 2016.
In a statement, ICM Partners said it was "distressed" by Barr's tweet.
"What she wrote is antithetical to our core values, both as individuals and as an agency. Consequently, we have notified her that we will not represent her. Effective immediately, Roseanne Barr is no longer a client."
Barr's apology and history of controversial tweets "I apologize to Valerie Jarrett and to all Americans," Barr wrote on Twitter. "I am truly sorry for making a bad joke about her politics and her looks. I should have known better. Forgive me-my joke was in bad taste."
A representative for Jarrett declined to comment on Barr's tweet.
The actress had earlier defended the statement against other critics on the social media platform.
Defense tweet
"Roseanne" returned to television this year after an initial run in the 1980s and '90s. The show was an immediate hit, with more than 18 million viewers watching the premiere. The show was renewed for a second season in March.
Barr, whose provocative Twitter presence rankled ABC executives, has been an outspoken proponent of . In March, Trump called Barr to congratulate her on her ratings success.
White House Press Secretary Sarah Huckabee Sanders declined to comment on the cancellation to NBC News on Tuesday.
show chapters ABC cancels 'Roseanne' after racist tweets 2 Hours Ago | 01:05 Barr is known for promoting conspiracy theories using her Twitter account. Hours before the comments regarding Jarrett, Barr accused Chelsea Clinton of being married to a relative of billionaire investor George Soros, who is the subject of numerous conspiracy theories and invective from the right wing. She later corrected herself.
In a separate tweet on Tuesday, Barr accused Soros of being a Nazi responsible for sending Jews to concentration camps.
Roseanne Nazi accusation
A spokesman for Soros told The New York Times that the "false allegations are insulting to the victims of the Holocaust." Soros fled Hungary in 1947 after surviving Nazi occupation.
Disney shares were down more than two percent Tuesday, though the fall appears to have little to do with "Roseanne." Shares had been falling on the news that the latest "Star Wars" movie performed poorly over Memorial Day weekend .
The show was mentioned only in passing on Disney's last earnings call. "We've got good ratings momentum with a couple of new shows," CFO Christine McCarthy said, according to a FactSet transcript. "American Idol as well as Roseanne." | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/29/abc-cancels-roseanne-barrs-sitcom-after-her-tweet-about-black-obama-aide-valerie-jarrett.html |
May 11, 2018 / 7:30 AM / in 15 minutes Two ex-Hong Kong lawmakers convicted of unlawful assembly, further sapping dissent movement Reuters Staff 3 Min Read
HONG KONG (Reuters) - A Hong Kong court on Friday found two pro-independence activists guilty of unlawful assembly inside the legislature while they were still lawmakers, dealing a further blow to waning political dissent in the Chinese-ruled territory. FILE PHOTO: Pro-independence activists Yau Wai-Ching (R) and Baggio Leung meet journalists outside High Court after they lost an appeal against their disqualification as lawmakers in Hong Kong, China November 30, 2016. REUTERS/Bobby Yip/File Photo
Opposition leaders and supporters are fighting multiple court cases and Friday’s verdict in Kowloon City Magistrates’ Courts is likely to further dent the confidence of activists calling for full democracy, or even outright independence for the former British colony, a red line for Beijing.
Baggio Leung, 31, and Yau Wai-ching, 26, were democratically elected and then dramatically ousted from the Legislative Council for the way in which they took their oaths, criticizing China, in late 2016.
Before they were officially disqualified, the pair tried to barge into a room along with at least eight assistants, scuffling with security officers meanwhile.
“Regardless of whether they were still Legislative Council members on that day, they would not be exempted from criminal liability on account of their capacity as council members,” wrote magistrate Wong Sze-lai in the 65-paged verdict.
“Their acts were likely to cause any person reasonably to fear that the persons so assembled would commit a breach of the peace.”
Three assistants were also found guilty of the same charge.
Leung and Yau told reporters they would decide whether to appeal after sentencing on June 4, but that they were “actively considering it”.
The two were once seen as potential leaders of a fledging movement calling for Hong Kong’s secession from China. Yau was the youngest woman ever elected to the legislature.
Hong Kong returned to Chinese rule in 1997 under a “one country, two systems” formula which promises it a high degree of autonomy and freedoms not enjoyed in mainland China.
But the perception that China is increasingly encroaching upon the city’s freedoms has spurred a young generation of activists, many taking to the streets in months of pro-democracy protests in 2014 and some calling for outright independence.
Communist Party leaders in Beijing, sensitive to calls for independence spreading to the mainland, have repeatedly slammed the movement. President Xi Jinping warned last year that any attempt to endanger China’s sovereignty would be an act that crosses a “red line”.
The oath-taking incident triggered China’s parliament to issue an interpretation over Hong Kong’s mini-constitution while a court case over their seats was under way.
The act spurred roughly 2,000 lawyers to protest against what they called China’s interference in the city’s much vaunted judicial independence.
Leung and Yau’s disqualifications, as well as the arrest of pro-independence leader Edward Leung on rioting charges, sapped the secessionist movement of its steam. It has now largely gone underground. Reporting by Venus Wu; Editing by Nick Macfie | ashraq/financial-news-articles | https://www.reuters.com/article/us-hongkong-politics/two-ex-hong-kong-lawmakers-convicted-of-unlawful-assembly-further-sapping-dissent-movement-idUSKBN1IC0LL |
SILICON VALLEY, Calif., May 17, 2018 /PRNewswire/ -- Leading digital wealth management firm Personal Capital today announced it has hired Allison Amadia as General Counsel, effective May 24. Amadia, who has more than 25 years of legal experience, brings to Personal Capital a deep expertise in managing legal teams at leading financial technology companies. In her new role, she will oversee Personal Capital's legal operations, with a focus on operations, corporate strategy, regulatory compliance, intellectual property, and financings.
"To continue building a world-class tech-enabled wealth management business, we need a world-class legal team with deep experience handling matters unique to a growing fintech firm," said Jay Shah, CEO of Personal Capital. "This is exactly what Allison brings to Personal Capital. Her leadership and entrepreneurial experience in financial technology is second-to-none in the legal field. I'm proud to welcome Allison to the leadership team and look forward to her helping chart our growth."
Prior to joining Personal Capital, Amadia served as General Counsel, Chief Compliance Officer and Corporate Secretary at a privately-held cloud-based financial technology provider, as well as Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary at Extreme Networks. Earlier in her career, she co-founded Amadia Pritchard LLC, a legal consulting firm which provided outsourced general counsel services to technology companies for over a decade.
"I'm thrilled to join Personal Capital at such an important growth period for the company," said Amadia. "My experience helping technology companies grow and stay ahead of the increasingly complex legal and compliance matters as they scale will allow me to add value right from the start. Jay and his team have built something truly special, and I look forward to supporting Personal Capital's continued commitment to transparency within the financial services industry."
Amadia holds a Juris Doctor from the University of Pennsylvania Law School, and a Bachelor's Degree in Political Science from the University of California at Davis. Amadia was named as a 2015 finalist for Public Company General Counsel of the Year by the Silicon Valley Business Journal and the San Francisco Business Times.
About Personal Capital
Personal Capital transforms financial lives through technology and people. Free online tools create total clarity with all your accounts in one place and expert advisors provide unconflicted advice you can easily understand. The result is complete confidence in how you plan for and achieve your financial goals. For more information and to open an account, visit https://www.personalcapital.com/ .
Stay Connected
Twitter: https://twitter.com/PersonalCapital
LinkedIn: https://www.linkedin.com/company/personal-capital/
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Contact Information:
Rebecca Neufeld
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[email protected]
(917) 633-6039
View original content with multimedia: http://www.prnewswire.com/news-releases/personal-capital-hires-allison-amadia-as-general-counsel-300650428.html
SOURCE Personal Capital | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/pr-newswire-personal-capital-hires-allison-amadia-as-general-counsel.html |
RICHMOND, Va.—The House Freedom Caucus, a group of the chamber’s most conservative Republicans, doesn’t shy away from bucking the leadership or demanding ideological fealty.
That stance could become a liability this year, as Republicans acknowledge they are facing political headwinds in the November midterms and no one is immune.
In a sign... | ashraq/financial-news-articles | https://www.wsj.com/articles/members-of-house-freedom-caucus-face-tough-fights-in-fall-elections-1526209200 |
Petra Nemcova: More charities should merge together 1 Hour Ago CNBC's Bob Pisani sits down with supermodel and philanthropist Petra Nemcova to chat about her humanitarian efforts and why more charities should merge. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/09/petra-nemcova-more-charities-should-merge-together.html |
immigration@ (Adds Republican lawmaker, increases number of signatories to 20)
WASHINGTON, May 16 (Reuters) - U.S. House of Representatives Speaker Paul Ryan sought to head off revolts on Wednesday from the right and center of his Republican Party as lawmakers battled over legislation that would protect young illegal immigrants from deportation.
At a morning news conference after huddling privately with rank-and-file Republicans, Ryan warned a small group of moderates that it would be a "big mistake" if they kept pushing a procedural maneuver to force a series of votes on four separate immigration bills.
Some Republicans worried such a debate could lead to a bipartisan immigration bill passing that might anger conservative Republicans at an inopportune time, with November elections approaching.
Majority Leader Kevin McCarthy told fellow Republicans at the closed-door morning meeting that things were going well for them, and "let's not create a problem of our own making," one House Republican lawmaker said, asking not to be named.
Ryan said he was working with the White House on a measure that would win President Donald Trump's support. At the news conference, Ryan did not provide details or a timetable for advancing such legislation.
So far, 20 of the House's 235 Republicans had signed a petition to force an immigration debate that would allow the bill with the most votes to advance to the Senate.
They want to join forces with Democrats to pull off the rare procedural trick in defiance of leadership. Some of the 20 signatories are retiring, while some others are moderates seeking re-election in November and represent districts with a significant number of Hispanics.
'NOT HAPPY WITH INACTION'
One of the four immigration bills, a bipartisan measure, would put the young "Dreamer" immigrants who were brought to the United States illegally when they were children, on a path to citizenship.
Another of the four bills, spearheaded by House Judiciary Committee Chairman Bob Goodlatte, would give temporary protections to the Dreamers but not offer citizenship, and is backed by more conservative Republicans.
Ryan also faced a challenge from the conservatives, as members of the hard-right House Freedom Caucus discussed withholding their votes on an unrelated farm bill later this week unless Ryan agrees to bring the Goodlatte bill alone to the House floor.
Last September, Trump said he was ending the Deferred Action for Childhood Arrivals, or DACA, program created in 2012 by then-President Barack Obama. It has protected some 800,000 of the young immigrants from deportation, allowing them to study and work in the United States under temporary protection.
Trump called on Congress to pass legislation replacing DACA and providing permanent protections for the youths. But he has given conflicting statements on precisely what he would support and Congress missed a March 5 deadline for sending him a bill.
Representative John Faso, a Republican who has signed the petition, told reporters: "I'm not happy with inaction" and noted that "time is running out" for Congress to do something about immigration before November elections.
(Reporting by Richard Cowan and Susan Cornwell; Additional reporting by Amanda Becker; Editing by Tom Brown and Peter Cooney) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/16/reuters-america-update-3-u-s-house-speaker-ryan-seeks-to-head-off-republican-revolt-on-immigration.html |
May 16, 2018 / 12:56 PM / Updated 29 minutes ago EU's Tusk asks - 'With friends like Trump, who needs enemies?' Gabriela Baczynska 4 Min Read
SOFIA (Reuters) - U.S. President Donald Trump has “rid Europe of all illusions” by quitting the Iran nuclear deal and driving trade disputes, the European Union chairman said on Wednesday, underlining the depth of trans-Atlantic discord.
The 28 worried EU leaders are gathering in the Bulgarian capital for discussions over dinner on Wednesday on how to salvage the nuclear deal and European business dealings with Iran from Trump’s sanctions and how to avoid a trade war in an escalating tariff dispute with the United States.
Tusk said the EU must be more united than ever before to deal with what he called Trump’s “capricious assertiveness”.
“Looking at the latest decisions of President Trump, someone could even think: With friends like that, who needs enemies?” Tusk told a news conference.
“But frankly speaking, Europe should be grateful to President Trump. Because thanks to him we have got rid of all illusions. He has made us realise that if you need a helping hand, you will find one at the end of your arm.”
European leaders are troubled by Trump’s “America first” rhetoric and inconsistent statements on NATO and the EU. Trump’s decision to pull out of the Paris climate change accord and the 2015 nuclear deal with Iran threaten Europe’s own foreign policy, which was long complementary to Washington’s.
“Europe must do everything in its power to protect, in spite of today’s mood, the transatlantic bond. But at the same time we must be prepared for those scenarios, where we will have to act on our own,” said Tusk, a former Polish prime minister.
Trump’s moving of the U.S. Embassy in Israel to Jerusalem this week has also upset many in Europe, though the EU has failed to condemn the move squarely due to opposition from the Czech Republic and Hungary, which are strongly pro-Israel.
TRANS-ATLANTIC CHILL
French President Emmanuel Macron has tried to charm Trump but that failed to prevent Washington last week from abandoning the Iran deal, which seeks to curb Tehran’s nuclear programme in exchange for sanctions relief.
Speaking to lawmakers in Paris on Wednesday, France’s junior minister for Europe, Jean-Baptiste Lemoyne, said the U.S. behaviour meant it was time that Europe stood up for itself.
“The extra-territorial dimension of U.S. sanctions is unacceptable. We must develop our economic sovereignty now. It’s a moment of truth for Europe,” he said.
German Chancellor Angela Merkel has strongly backed efforts to develop a collective European approach towards Trump’s unilateralism but she told the lower house Bundestag on Wednesday she remained determined to support trans-Atlantic relations.
The EU and the United States have traditionally been the closest of allies, working together also via NATO. But Trump has also lambasted his European peers for not spending enough on defence, raising doubts among many in Europe about his commitment to NATO and Europe’s broader security.
“The broader U.S.-EU security relationship is at risk,” a former U.S. envoy to the EU, Anthony Gardner, told the European Parliament on Wednesday. FILEPHOTO: European Union Council President Donald Tusk testifies as a witness in an investigation of the 2010 Smolensk plane crash that killed the former Polish president, Lech Kaczynski, and 95 others onboard, in Warsaw, Poland, April 23, 2018. Agencja Gazeta/Adam Stepien via REUTERS Additional reporting by Andreas Rinke, Ivana Sekularac, Robin Emmott and John Irish; Editing by Gareth Jones | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-trump-eu/eus-tusk-lashes-out-at-trump-amid-trade-dispute-iran-split-idUKKCN1IH1OF |
Federal prosecutors in Detroit on Thursday unsealed charges against former Volkswagen Chief Executive Martin Winterkorn, accusing him of conspiring to mislead regulators about the German automaker's diesel emissions cheating.
Volkswagen did not immediately comment
An indictment filed in secret in March was unsealed in U.S. District Court on the same day as Volkswagen's annual meeting in Germany. Winterkorn resigned soon after the scandal over polluting vehicles in the United States became public in September 2015.
U.S. Attorney General Jeff Sessions said in a statement that the charges show "Volkswagens scheme to cheat its legal requirements went all the way to the top of the company."
Winterkorn is charged with conspiracy to defraud the United States, wire fraud and violating the Clean Air Act from at least May 2006 through November 2015 by using illicit software that allowed Volkswagen diesel vehicles to emit excess pollution without detection.
Volkswagen initially suggested that only lower level executives knew of the cheating. But the indictment alleges Winterkorn was informed of VWs diesel emissions cheating in May 2014 and in July 2015 and he agreed with other senior VW executives "to continue to perpetrate the fraud and deceive U.S. regulators," prosecutors said.
A spokeswoman for the U.S. Attorney's office in Detroit said Winterkorn was not in custody. In total, nine people have been charged and two have pleaded guilty in the case. One Italian citizen, a former Audi manager, is in Germany awaiting extradition.
Six of the former Volkswagen executives charged are in Germany and have avoided facing U.S. prosecutors because Germany typically does not extradite its citizens. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/03/former-volkswagen-ceo-martin-winterkorn-charged-by-u-s-in-diesel-scandal.html |
IRVINE, Calif.--(BUSINESS WIRE)-- Boot Barn Holdings, Inc. (the “ Company ”) (NYSE: BOOT) today announced the launch of a public offering of 7,211,813 shares of its common stock held by certain of its stockholders. The selling stockholders include funds managed by Freeman Spogli & Co., offering all 7,021,771 shares held by them, and certain directors, offering 190,042 shares (collectively, the “ selling stockholders ”). The Company will not issue shares in the offering and will not receive any proceeds from the sale of the shares by the selling stockholders in this offering. Following the completion of this offering, funds managed by Freeman Spogli & Co. will not hold any shares of the Company.
J.P. Morgan Securities LLC and Jefferies LLC are acting as underwriters for the offering, and propose to offer the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at prevailing market prices, at prices related to prevailing market prices or at negotiated prices.
This offering will be made only by means of a prospectus and related prospectus supplement forming a part of the registration statement initially filed by the Company with the Securities and Exchange Commission (the “ SEC ”) on November 22, 2017, which has been declared effective by the SEC. Before you invest, you should read the prospectus included in that registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents free of charge by visiting EDGAR on the SEC's website at www.sec.gov .
Copies of the preliminary prospectus supplement and, when available, the final prospectus supplement, and the related prospectus relating to the offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected] .
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Boot Barn Holdings, Inc.
Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. As of the date of this release, Boot Barn operates 230 stores in 31 states, in addition to an e-commerce channel www.bootbarn.com . The Company also operates www.sheplers.com , the nation’s leading pure play online western and work retailer and www.countryoutfitter.com , an e-commerce site selling to customers who live a country lifestyle. Information that may be accessed through our websites is not part of, and is not incorporated into, this press release.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements refer to our current expectations and projections relating to, by way of example and without limitation, our financial condition, liquidity, profitability, results of operations, margins, plans, objectives, strategies, future performance, business and industry. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”, “will”, “could”, “should”, “can have”, “likely”, “outlook” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company’s management has made in light of their industry experience and on their perceptions of historical trends, current conditions, expected future developments and other factors they believe are appropriate under the circumstances. As you consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. These risks, uncertainties and assumptions include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions or changes in consumer preferences and the Company’s ability to effectively execute on its growth strategy; the failure to realize the anticipated synergies from the Sheplers acquisition and other risks of integration, to maintain and enhance its strong brand image; to compete effectively; to maintain good relationships with its key suppliers; and to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in greater detail under the heading “Risk factors” in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this press release after the date of this press release.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180517006374/en/
Investor Relations:
ICR
Brendon Frey, 203-682-8216
[email protected]
or
Media Relations:
Jim Watkins, 949-453-4428
[email protected]
Source: Boot Barn Holdings, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/business-wire-boot-barn-holdings-inc-announces-launch-of-public-offering-by-selling-stockholders.html |
3 COMMENTS One of New York’s major cultural institutions, the 92nd Street Y, plans an extensive renovation after the biggest fundraising campaign in its 144-year history.
The $180 million capital campaign—$145 million of which already has been raised—will fund a renovation of the building from top to bottom and create several new dedicated spaces for current programs and activities, including those devoted to early childhood, seniors and Jewish life, Y officials said.
The Warburg Lounge at the 92nd Street Y. Work on the cultural institution’s planned $180 million overhaul is expected to take place over the next several years. Photo: Steve Remich for The Wall Street Journal The Y has one of the more eclectic missions of any cultural and community institution in the city. It offers a full slate of concerts, lectures and readings, plus classes in a variety of subjects. It also features programming celebrating Jewish life, reflecting its founding in 1874 as the Young Men’s Hebrew Association (YMHA). It has a fitness center and nursery school as well.
As the Y’s activities have grown over the years, it has faced difficulties fitting so much into its 250,000-square-foot building, which fronts Lexington Avenue between 91st and 92nd Streets. Making matters more challenging: The edifice—actually, two buildings, dating back to 1929 and 1968, that are joined together as one entity—has long been in need of upgrades and improvements.
“We underinvested in the building for decades,” said Henry Timms, the Y’s chief executive since 2014.
Work on the overhaul is expected to take place over the next several years. The Y already completed one element within the past month—a new 16-room facility to house its music school, which serves 900 students of all ages.
Yana Stotland, the music school’s director, said she is “thrilled beyond belief” with the new setup, which gives faculty and students the room they need. Previously, the school’s facility, housed in a different part of the building, was so tight for space that Ms. Stotland typically had to give up her office for much of the day so it could be used for lessons.
Samantha Angstman, in red, helps James Lahner during a group piano class for beginners at the 92nd street Y. Photo: Steve Remich for The Wall Street Journal Students at the institution’s writing program, where novelists and poets often teach, currently take workshops in spaces that serve as nursery-school classrooms by day. The renovation should result in dedicated classrooms for the writing program, Y officials said.
The Y won’t be expanding its building. Rather, the renovation calls for the elimination of some residential units—the Y has a dorm of sorts—and a reconfiguration of existing space to provide the needed room, officials said.
The Y’s efforts come as other major cultural institutions in the city have struggled with campaigns for ambitious and costly projects. In the past year, Lincoln Center and the New York Philharmonic shelved a $500 million plan to renovate David Geffen Hall.
Write to Charles Passy at [email protected] | ashraq/financial-news-articles | https://www.wsj.com/articles/new-yorks-92nd-street-y-plans-180-million-top-to-bottom-renovation-1526832000 |
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