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VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) -- The following issues have been halted by IIROC / L'OCRCVM a suspendu la negociation des titres suivants:
Company / Société : Aim2 Ventures Inc.
TSX-Venture Symbol / Symbole à la Bourse de croissance TSX :
AIMB.P Reason / Motif : At the Request of the Company Pending News / À la demande de la société en attendant une nouvelle Halt Time (ET) / Heure de la suspension (HE) 15 :02 IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
L'OCRCVM peut prendre la decision d'imposer une suspension provisoire des negociations sur le titre d'une societe cotee en bourse, habituellement en prevision d'une annonce importante de la part de la societe. Les suspensions de negociations sont imposees suivant le principe que tous les investisseurs devraient avoir un acces egal et simultane a l'information importante au sujet des societes dans lesquelles ils investissent. L'OCRCVM est l'organisme d'autoreglementation national qui surveille l'ensemble des societes de courtage et l'ensemble des operations effectuees sur les marches boursiers et les marches de titres d'emprunt au Canada.
Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Veuillez prendre note que l'OCRCVM n'est pas en mesure de fournir d'informations supplementaires au sujet d'une suspension des negociations en particulier. L'information est restreinte aux questions generales.
IIROC Inquiries
1-877-442-4322 (Option 2)
Source:Investment Industry Regulatory Organization of Canada | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/29/globe-newswire-iiroc-trading-halt-suspension-de-la-negociation-par-locrcvm-aaimb-p.html |
May 9, 2018 / 4:00 PM / Updated 27 minutes ago Cricket-Porterfield credits former players for Ireland's test debut Reuters Staff 2 Min Read
May 9 (Reuters) - Ireland captain William Porterfield hailed the contributions made by the team’s former players as they prepare to make their test debut against Pakistan in Malahide on Friday.
Ireland will become the first team to debut in the longest format of the game since Bangladesh in 2000, after being awarded full member status last June along with Afghanistan.
“It is a massive occasion for everyone involved in Irish cricket,” Porterfield told reporters.
“For the 11 lads who will take the pitch, it will be a fantastic occasion for them and their families but we have to also remember everything that has gone before in Irish cricket in terms of getting us to this stage, over the years.
“You’ve got a lot of past players – some of them are here with us, some aren’t, but we have to remember and recognise what they have done to get us to this stage.”
Ed Joyce, who could become one of the sport’s oldest test debutants at 39, said the chance of taking the field in test whites was still a “pinch me moment” for him.
“I’m in the 14. Hopefully I make the final XI. It’ll be an incredible feeling,” he told BBC.
“I played my first game a long time ago, 20 years ago, so to get to this point, where we’re on the verge of our first Test, is a great feeling, I can’t wait.”
Pakistan captain Sarfraz Ahmed backed Ireland to take their experience from limited-overs matches and thrive in the test format.
“It is a privilege to be a part of this historic Test match and all of us are really looking forward to it,” the 30-year-old said.
“Ireland players feature prominently in the ICC ODI (one-day internationals) and T20I (Twenty20 internationals) player rankings, and I am confident that in due course they will also make their mark in the Test rankings.” Reporting by Hardik Vyas in Bengaluru Editing by Toby Davis | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-test-irl-pak-porterfield/cricket-porterfield-credits-former-players-for-irelands-test-debut-idINL8N1SG7PP |
May 29, 2018 / 6:00 PM / Updated 7 minutes ago Report: Major League Baseball says Rizzo's slide was interference Reuters Staff 3 Min Read
Pittsburgh Pirates manager Clint Hurdle deemed it “open season” on MLB catchers after Chicago Cubs first baseman Anthony Rizzo’s controversial slide into catcher Elias Diaz during Monday’s 7-0 Cubs win. May 28, 2018; Pittsburgh, PA, USA; Chicago Cubs first baseman Anthony Rizzo (44) slides into the leg of Pittsburgh Pirates catcher Elias Diaz (32) causing a throwing error which allowed two runs to score during the eighth inning at PNC Park. Mandatory Credit: Charles LeClaire-USA TODAY Sports
With the bases loaded in the eighth inning, a ground ball was hit to shortstop Sean Rodriguez, who threw to Diaz to force Rizzo out at home by a comfortable margin. As Diaz threw to first trying to complete the double play, Rizzo slid feet first into Diaz’s right leg and foot, which was just outside the top of the batter’s box. With the contact, the catcher’s throw went high into right field, allowing two runs to score as Diaz dropped to the ground in pain.
The slide was deemed legal originally and after the play was reviewed, leading to Hurdle’s ejection after he argued the call furiously. Major League Baseball, however, believes interference should have been called and has informed both teams of its opinion, according to a report from ESPN.
“My position and my question is that, at the end of the day, we’ve put a rule in at home plate to protect the catchers,” Hurdle said afterward. “Everybody is going to see the play and say this is the play you can make on the catcher on his most vulnerable position. He’s completely exposed. He’s completely out in front of the plate. He has no defense whatsoever.
Diaz felt similarly, telling reporters through his interpreter, “In my personal opinion, I don’t think it was a good slide.
“I understand that there’s old-school baseball, but we’re not in old-school baseball anymore. There are new rules and things we’ve submitted to, and even us as catchers have mentally prepared ourselves for, and I don’t agree that that’s a legal slide.”
Cubs manager Joe Maddon was nearly as angry as Hurdle, arguing that the play shouldn’t even be reviewable. He called it a “perfect play” by Rizzo and said he was concerned that fans are being taught incorrectly about what is legal and not legal on such a play.
Rizzo did not deny he tried to make contact with Diaz.
“You have to go in and break the double play up,” Rizzo said. “I’m not trying to hurt anyone. Plays like that are scary, but at the same time, you have to play hard.
“...If you flip it around and one of their guys did it to us, are we sitting here saying the same thing? I don’t think so. ... I appreciate a few of their guys saying to me, ‘That’s a clean play. Didn’t look like you were trying to hit him.’ It’s one of those plays I’m sure will be talked about a little bit, but I don’t think it’s anything too crazy.”
Diaz remained in the game, and the pair talked briefly when Rizzo returned for an at-bat in the ninth inning.
“For me to come out of that game, he needed to break my leg,” Diaz said.
—Field Level Media | ashraq/financial-news-articles | https://www.reuters.com/article/us-baseball-mlb-pit-chc-rizzo-slide/hurdle-pirates-upset-about-anthony-rizzos-slide-at-home-plate-idUSKCN1IU2DW |
May 15, 2018 / 9:46 AM / Updated 25 minutes ago Thomson Reuters says to move forex derivative trading to Ireland due to Brexit Reuters Staff 1 Min Read
LONDON (Reuters) - Thomson Reuters said on Tuesday it had applied to the Irish central bank to move its foreign exchange derivative trading facility to Dublin because of Brexit. FILE PHOTO: A Thomson Reuters logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. Picture taken January 25, 2018. REUTERS/Denis Balibouse
“Thomson Reuters has commenced the process of applying to the Central Bank of Ireland for authorization to operate its FX Multilateral Trading Facility from Dublin rather than London as a result of the UK’s planned departure from the European Union,” it said.
“It is our intention to transfer all existing client relationships of the Thomson Reuters MTF and Dealing, as well as Fixed Income Callouts and Auctions, from RTSL to our new Irish legal entity ahead of the Brexit date.”
Thomson Reuters, controlled by Canada’s Thomson family, is the parent of Reuters News. Reporting by Guy Faulconbridge; editing by Michael Holden | ashraq/financial-news-articles | https://uk.reuters.com/article/us-britain-eu-thomsonreuters-ireland/thomson-reuters-to-move-forex-derivatives-out-of-london-to-dublin-after-brexit-ft-idUKKCN1IG19L |
Trump casts doubt on summit with Kim Jong Un 4:22pm EDT - 02:14
Three weeks before an unprecedented U.S.-North Korea summit is supposed to take place, President Donald Trump will meet South Korean President Moon Jae-in on Tuesday as U.S. officials try to figure out whether Pyongyang is serious about negotiating a deal on denuclearization.
Three weeks before an unprecedented U.S.-North Korea summit is supposed to take place, President Donald Trump will meet South Korean President Moon Jae-in on Tuesday as U.S. officials try to figure out whether Pyongyang is serious about negotiating a deal on denuclearization. //reut.rs/2GFe23B | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/22/trump-casts-doubt-on-summit-with-kim-jon?videoId=429289060 |
Exclusive: Comcast readies bid for 21st Century Fox 00:51
Comcast is speaking to investment banks about obtaining bridge financing for an all-cash bid to displace Walt Disney on its $52 billion deal to acquire most of Twenty-First Century Fox assets, three people familiar with the matter said on Monday.
Comcast is speaking to investment banks about obtaining bridge financing for an all-cash bid to displace Walt Disney on its $52 billion deal to acquire most of Twenty-First Century Fox assets, three people familiar with the matter said on Monday. //reut.rs/2rxrSj1 | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/07/exclusive-comcast-readies-bid-for-21st-c?videoId=424812709 |
Boston Bruins forward Brad Marchand made headlines for the wrong reasons during the NHL playoffs, and he knows it.
Ice Hockey - 2016 IIHF World Championship - Gold medal match - Finland v Canada - Moscow, Russia - 22/5/16 - A referee separates Leo Komarov of Finland and Brad Marchand of Canada. REUTERS/Maxim Shemetov Marchand, who was told by the league to stop licking the faces of his opponents, told reporters Wednesday that he wants to clean up his act in order to avoid embarrassing the team.
“The biggest thing for me is taking a pretty hard look in the mirror and realize that some of the things I’m doing have much bigger consequences,” Marchand said. “The last thing I ever want to do is bring embarrassment to my teammates and the organization like I did.
“I have to be a lot better. I know I have said that in the past, but I think that’s got to be the thing that I really work on the most.”
Apr 28, 2018; Tampa, FL, USA; Boston Bruins left wing Brad Marchand (63) is congratulated by teammates as he scores a goal against the Tampa Bay Lightning during the third period of game one of the second round of the 2018 Stanley Cup Playoffs at Amalie Arena. Mandatory Credit: Kim Klement-USA TODAY Sports Marchand first licked Leo Komarov of the Toronto Maple Leafs during the first round of the playoffs, then repeated the act on the Tampa Bay Lightning’s Ryan Callahan during the second round. The Lightning were none too happy with the gesture, with coach Jon Cooper saying, “There is absolutely no place in our game for that.”
“Some things I’ve done clearly need some fixing,” said Marchand. “So I think that’s going to be the biggest thing that I take away from what’s happened the last few days — to actually take a look and really understand these things have much bigger consequences.
Apr 11, 2015; Tampa, FL, USA; Boston Bruins left wing Brad Marchand (63) skates with the puck as Tampa Bay Lightning right wing Ryan Callahan (24) defends during the first period at Amalie Arena. Mandatory Credit: Kim Klement-USA TODAY Sports “When you play a certain way with no consequences for 25 years, it’s hard to flip a switch and have it all be gone. Maybe I haven’t paid enough attention to it, because I thought I could get away with it because I was being a good player. If I wasn’t having the years that I was having, would I be in the league? I don’t know. Would the Bruins put up with it? Probably not.”
Marchand, who turns 30 on Friday, led the Bruins with 85 points (34 goals, 51 assists) during the regular season. He was second on the team with 17 points (four goals, 13 assists) in the playoffs.
Marchand noted he must improve his behavior if he’s ever going to grow into a leader on the team like Patrice Bergeron or captain Zdeno Chara.
“That’s something I’ve wanted to work on for the last few years, to move more into that role,” he said. “I gotta figure some out before that’s really going to happen. To get to that next level. I gotta get rid of that stuff.”
Chara, for one, believes Marchand will take the steps needed to get there.
“He realizes he needs to get better,” said Chara. “And he will. I am sure that he is going to have some thoughts about some of this stuff ... and he will be better.”
—Field Level Medias
| ashraq/financial-news-articles | https://www.reuters.com/article/us-icehockey-nhl-bos-marchand/bruins-marchand-remorseful-toward-playoff-antics-idUSKBN1IB1VG |
May 9 (Reuters) - India’s Federal Bank Ltd reported on Wednesday a 43 percent drop in fourth-quarter profit, hurt by higher provisions for bad loans.
Net profit was 1.45 billion rupees ($21.55 million) for the three months ended March 31, compared with 2.57 billion rupees a year ago, the mid-sized private-sector lender said in a statement here
Analysts had on average expected the lender to post a net profit of 2.87 billion rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans rose to 3 percent at end-March, compared with 2.52 percent in the preceding quarter and 2.33 percent a year ago.
$1 = 67.2725 Indian rupees Reporting by Vishal Sridhar in Bengaluru; Editing by Sunil Nair
| ashraq/financial-news-articles | https://www.reuters.com/article/federal-bank-results/indias-federal-bank-q4-profit-slides-misses-fcast-idUSL3N1SG4F5 |
UNIONDALE, N.Y., May 16, 2018 (GLOBE NEWSWIRE) -- On May 15, 2018, Arbor Realty Trust, Inc. (the "Company") (NYSE:ABR) closed its private placement to eligible purchasers of $25 million in aggregate principal amount of 5.625% senior unsecured notes due May 1, 2023 (the “reopened notes”) at 99.445% of par. The offering was made pursuant to a reopening of its existing series of such notes.
The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.
Sandler O’Neill + Partners, L.P. acted as the initial purchaser for the offering.
The reopened notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, the reopened notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable The reopened notes are expected to be eligible for trading by qualified institutional buyers (as defined in Rule 144A under the Securities Act).
This press release is neither an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE:ABR) is a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Fannie Mae DUS® Multifamily Lender and a Fannie Mae Small Loan lender, a Freddie Mac Program Plus® Seller/Servicer and a Freddie Mac Small Balance Loan Lender, a Fannie Mae and Freddie Mac Seniors Housing Lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-approved LIHTC Lender as well as a CMBS, bridge, mezzanine and preferred equity lender.
Safe Harbor Statement
Certain items in this press release may constitute within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the anticipated use of the net proceeds from the offering and expected eligibility of trading of the notes. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to described in the . The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations related to the completion of the offering on the anticipated terms or at all, market conditions, the satisfaction of customary closing conditions related to the offering, and other risks detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and its other reports filed with the SEC. Such speak The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.
Contacts:
Investors:
Arbor Realty Trust, Inc. The Ruth Group Paul Elenio, Chief Financial Officer Lee Roth 516-506-4422 646-536-7012 [email protected] [email protected] Media: Bonnie Habyan, EVP of Marketing 516-506-4615 [email protected]
Source:Arbor Realty Trust | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/globe-newswire-arbor-realty-trust-inc-closes-offeringaof-senior-notes-due-2023.html |
ENGLEWOOD, Colo., May 09, 2018 (GLOBE NEWSWIRE) -- Evolving Systems , Inc. (NASDAQ:EVOL), a leader in real-time digital engagement solutions and services, today announced that it will release its 2018 first quarter financial results after the market closes on Tuesday, May 15, 2018. The Company also announced that it will host its quarterly results conference call and webcast later that day, Tuesday, May 15, 2018 at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time).
The call-in numbers for the conference call are: (877) 303-6316 for domestic toll free and (650) 521-5176 for international callers. The conference ID number is 5388209.
A telephone replay will be available for a period of two weeks following the Company’s results, and can be accessed by calling (855) 859-2056 for domestic toll free or (404) 537-3406 for international callers. The conference ID number is also 5388209.
To access a live webcast of the call, please click the ‘Investors’ tab on the Company’s website at www.evolving.com and then click the ‘Q1 earnings call’ icon at left. A replay of the webcast will be accessible through May 30, 2018. The webcast is also available by clicking the following link: https://edge.media-server.com/m6/p/3hbbd57u .
About Evolving Systems®
Evolving Systems, Inc. (NASDAQ: EVOL) is a provider of real-time digital engagement solutions and services to more than 100 customers in over 65 countries worldwide. The Company’s portfolio includes market-leading solutions and services for real-time analytics, customer acquisition, customer value management and loyalty for telecom, retail and financial services companies. Founded in 1985, the Company has its headquarters in Englewood, Colorado, with offices in Asia, Europe, Africa, South America and North America. For more information, please visit www.evolving.com or follow us on Twitter at http://twitter.com/EvolvingSystems .
Investor Relations Contact:
Michael Glickman
Senior Vice President, Investor Relations
GW Communications (for Evolving Systems)
Tel: (917) 397-2272
Email: [email protected]
Source:Evolving Systems, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/09/globe-newswire-evolving-systems-sets-date-for-its-2018-first-quarter-financial-results-announcement-and-conference-call.html |
May 10, 2018 / 1:10 PM / Updated an hour ago EU must give up "nightmares" of United States of Europe - Hungarian PM Marton Dunai , Krisztina Than 2 Min Read
BUDAPEST (Reuters) - The European Union should give up the “delusional nightmares” of a United States of Europe, Hungarian Prime Minister Viktor Orban said on Thursday in pledging to defend his nation’s Christian values and fight EU migrant settlement quotas. Hungarian Prime Minister Viktor Orban addresses the Parliament for the first time since his reelection in Budapest, Hungary, May 10, 2018. REUTERS/Bernadett Szabo
Orban, a maverick anti-immigration nationalist, won re-election for a third straight four-year term last month and is already the longest-serving premier in Hungary’s post-Communist history.
His populist rhetoric and strong criticism of EU policies have put Orban at odds with older, western members of the bloc but won him a landslide victory at home, as his nationalist line proved popular with voters. Hungarian Prime Minister Viktor Orban reacts after taking the oath of office in the Parliament in Budapest, Hungary, May 10, 2018. REUTERS/Bernadett Szabo
In his first speech in the new parliament, which on Thursday elected him prime minister as a formality, Orban said his new government would build a “Christian democracy”. Slideshow (7 Images)
He promised to boost growth and competitiveness and reverse a demographic decline. “We will oppose the mandatory migrant settlement quotas... and will fight for the protection of borders,” he said.
“(The EU) must give up the delusional nightmares of a United States of Europe; the EU must return to the grounds of reality. As a first step it must change its thinking about migration.”
Orban also said the era of liberal democracy had ended.
“We have replaced a shipwrecked liberal democracy with a 21st-century Christian democracy, which guarantees people’s freedom, security,” Orban, in power since 2010, told parliament.
“It supports the traditional family model of one man and one woman, keeps anti-Semitism at bay, and gives a chance for growth,” he added.
Orban also outlined broad plans for the next 12 years entailing rapid economic and social progress under a conservative ideology. Reporting by Krisztina Than and Marton Dunai; Editing by Mark Heinrich | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-hungary-orban/hungarian-parliament-elects-viktor-orban-prime-minister-idUKKBN1IB1VB |
Pfizer Inc. has agreed to pay nearly $24 million to resolve allegations that it violated federal law by using a charity to pay Medicare patients’ out-of-pocket costs for the company’s prescription drugs, federal prosecutors said.
The settlement, with the U.S. Attorney’s Office in Boston, resolves allegations stemming from an investigation into charities that help patients pay for prescription drugs using donations from pharmaceutical companies.
... | ashraq/financial-news-articles | https://www.wsj.com/articles/pfizer-to-pay-24-million-to-settle-probe-into-copay-assistance-charities-1527178945 |
May 8 (Reuters) - Intact Financial Corp:
* ORATION REPORTS Q1-2018 RESULTS
* Q1 EARNINGS PER SHARE C$0.68 * Q1 EARNINGS PER SHARE VIEW C$0.86 — THOMSON REUTERS I/B/E/S
* QTRLY BOOK VALUE PER SHARE AT QUARTER-END $47.32 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-intact-financial-reports-q1-earnin/brief-intact-financial-reports-q1-earnings-per-share-c0-68-idUSASC0A0S4 |
May 24, 2018 / 5:24 AM / a few seconds ago Qantas says has been given more time to clarify description of Chinese territories Reuters Staff 3 Min Read
SHANGHAI/SINGAPORE (Reuters) - Australian airline Qantas Airways ( QAN.AX ) said on Thursday that it has been given more time to clarify how it refers to Chinese territories on its website, as a deadline set by Chinese authorities approaches. FILE PHOTO: A worker unloads a Qantas Airways Boeing 747 at Sydney's International airport in Australia, June 24, 2017. Picture taken June 24, 2017. REUTERS/David Gray
China’s aviation regulator last month sent letters to 36 airlines asking them to remove references on their websites or in other material that suggests Taiwan, Hong Kong and Macau are part of countries independent from China, in a move described by White House at the time as “Orwellian nonsense.”
One airline that received a letter and declined to be named due to the sensitivity of the issue told Reuters it was dated April 25 and gave carriers 30 days to comply, indicating a deadline of May 25.
“We made adjustments to our websites earlier this year and, along with various other airlines worldwide, have been given additional time to further clarify how we refer to Chinese territories,” a spokeswoman for Qantas said in an email.
She declined to comment on what the new deadline was. The Civil Aviation Administration of China declined to provide immediate comment when reached by phone.
Self-ruled Taiwan is claimed by Beijing as Chinese territory, and has become one of China’s most sensitive issues and a potential military flashpoint. Hong Kong and Macau are former European colonies that are now part of China but run largely autonomously.
China has in recent months been upping its policing of how foreign firms describe these territories. Japanese retailer Muji was fined after being found to be using packaging that listed Taiwan as a country while U.S. retailer Gap Inc ( GPS.N ) issued an apology last week for selling a T-shirt which it said had an incorrect map of China.
Some airlines such as Air Canada ( AC.TO ), Lufthansa ( LHAG.DE ) and British Airways ( ICAG.L ) have already made changes to their websites, according to Reuters’ checks. The Taiwanese foreign ministry last week asked Air Canada for a “speedy correction” after the carrier made the changes.
Chinese state-backed tabloid the Global Times late on Wednesday published a post on social media platform Wechat naming U.S. carriers United Airlines ( UAL.N ), American Airlines ( AAL.O ) and Hawaiian Airlines ( HA.O ) as being among those that had yet to alter their characterization of Taiwan. Reporting by Brenda Goh in SHANGHAI and Jamie Freed in SINGAPORE; additional reporting by Alana Wise in NEW YORK; editing by Richard Pullin | ashraq/financial-news-articles | https://uk.reuters.com/article/us-china-qantas/qantas-says-has-been-given-more-time-to-clarify-description-of-chinese-territories-idUKKCN1IP0LZ |
LONDON, May 3 (Reuters) - Business leaders do not like British Prime Minister Theresa May’s preferred post-Brexit customs option, according to the consultancy group KPMG.
The so-called customs partnership would align Britain’s approach to customs with the EU’s, removing the need for a customs border and would see British authorities collect the tariffs and pass them to the EU if the imports came from elsewhere.
“Many clients don’t like the New Customs Partnership proposal because it would bring uncertainty, take a long time to implement and mean higher costs,” Bob Jones, KPMG’s Customs lead said.
Jones said the other option a highly streamlined customs arrangement proposal is regarded as a more realistic option for clients, but most would prefer to stay in a customs union with the EU.
May’s so-called Brexit war cabinet met on Wednesday and has yet to decide on a proposal for future customs arrangements that will prevent a return to the hard border with EU member Ireland. (Reporting by Andrew MacAskill; editing by Guy Faulconbridge)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/britain-eu-customs-kpmg/kpmg-says-uk-pm-mays-customs-partnership-plan-unpopular-with-business-idUSL9N1S100D |
OAKVILLE, Ontario--(BUSINESS WIRE)-- Innomar Strategies, Canada’s leading specialty pharmaceuticals service provider and a part of AmerisourceBergen, announced today the acquisition of regulatory consulting firm Therapeutic Products Inc. (TPIreg). With the addition of TPIreg, Innomar is the first full service distributor and support services company in the specialty marketplace in Canada to offer a comprehensive portfolio of commercialization services.
Since 2013, TPIreg has been a leader in the Canadian healthcare landscape, with expertise in providing regulatory and quality assurance consultation to specialty pharmaceutical manufacturers in North America, as well as international companies focused on entry into the Canadian market. Anne Tomalin, Founder of TPIreg, will join Innomar. She is one of Canada’s leading experts in regulatory affairs and brings more than 25 years of industry experience to the company along with significant relationships with Canadian regulators.
“At Innomar Strategies, we are committed to advancing the commercialization of specialty pharmaceuticals and delivering value to our patients and partners across the Canadian healthcare system,” said Guy Payette, President, Innomar Strategies. “TPIreg is dedicated to this same mission and we believe that together, our best-in-class combination of resources, solutions and expertise allows us to offer customers a true integration of commercialization services, including supporting full market authorization into Canada.”
Accompanying Tomalin is her team of renowned experts who will support Innomar in the key areas of Regulatory Marketing and clinical trial applications, Quality Assurance, Drug Establishment Licensing (DEL) and support, and post marketing regulatory activities regarding safety and supply chain management.
“TPIreg will benefit from Innomar’s broad expertise and looks forward to contributing to a suite of commercialization services for companies wanting to enter the pharmaceutical market in Canada,” said Anne Tomalin, President, TPIreg. “We are excited to join Innomar and accelerate our pace of innovation.”
Innomar Strategies offers a broad suite of customized, end-to-end commercialization solutions, including market access consulting, patient support programs, nursing and clinic services, and specialty pharmacy and logistics management.
About Innomar Strategies
Innomar Strategies, a part of AmerisourceBergen, is the leading patient support provider in the Canadian specialty biopharmaceutical market. We deliver end-to-end commercialization solutions to improve product access, increase supply chain efficiency and enhance patient care. Strategic consulting, patient support programs, nursing and clinical services, and specialty pharmacy and logistics are just a few of our key areas of specialization. We partner closely with manufacturers, healthcare providers, pharmacies and payers to ensure patients have consistent and reliable access to specialty medication. With our integrated approach and commitment to best-in-class care, Innomar Strategies helps navigate the patient journey to optimize health outcomes. Visit us at www.innomarstrategies.com .
About AmerisourceBergen
AmerisourceBergen provides pharmaceutical products, value-driving services and business solutions that improve access to care. Tens of thousands of healthcare providers, veterinary practices and livestock producers trust us as their partner in the pharmaceutical supply chain. Global manufacturers depend on us for services that drive commercial success for their products. Through our daily work—and powered by our 21,000 associates—we are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #11 on the Fortune 500, with more than $150 billion in annual revenue. The company is headquartered in Valley Forge, Pa. and has a presence in 50+ countries. Learn more at amerisourcebergen.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180503005233/en/
AmerisourceBergen
Lauren Esposito, 610-576-3842
Director of External Communications
[email protected]
Source: AmerisourceBergen | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/business-wire-innomar-strategies-enhances-commercialization-expertise-with-acquisition-of-therapeutic-products-inc.html |
CARDIFF, Wales (Reuters) - The head of Qatar Airways said Boeing’s 777X aircraft program was experiencing delays, but he was sure that Boeing ( BA.N ) would catch up and deliveries of the jet would start on time in 2020.
FILE PHOTO: A 777X banner is pictured above the 777 Wing Horizontal Build Line at Boeing's production facility in Everett, Washington, U.S. June 1, 2017. REUTERS/Jason Redmond/File Photo “Boeing I think is a couple of months behind schedule but there is still time and they will catch up,” Chief Executive Akbar al Baker told reporters on Wednesday.
“Any new aircraft program will always have slippage but there is still time to deliver because the first delivery is in 2020...Except if there would be some certification issues, I think that the aircraft will be delivered on schedule.”
Slideshow (2 Images) The 406-seat 777-9, the main model of a two-aircraft family known as 777X, aims to maintain Boeing’s grip on the ‘mini-jumbo’ market by leapfrogging Airbus’s ( AIR.PA ) 365-seat A350-1000, its European rival’s largest twin-engined jet.
Boeing Chief Executive Dennis Muilenburg told analysts last week that the 777X was on course for first delivery to Gulf carrier Emirates in 2020, as planned.
“Now again, anytime we’ve got a big development program...it’s one that we keep a very close eye on. So daily, the team is working 777X with great focus, great intensity, but the development program remains on track,” he said.
Earlier this year, engine supplier General Electric ( GE.N ) emerged from a three-month delay in flight trials of its new GE9X jet engine, which was designed for the 777X.
The head of the 777X development program told Reuters in March that Boeing had reorganized testing to avoid being delayed by those snags.
He also acknowledged problems in producing enough wing stringers - reinforcing strips that go outwards from the fuselage - for the 777X, and said Boeing was “tracking basically back to schedule” on this part of the project.
Additional reporting by Tim Hepher; Editing by Paul Sandle/Keith Weir
| ashraq/financial-news-articles | https://www.reuters.com/article/us-qatar-airways-britain-boeing/qatar-airways-ceo-says-delays-on-777x-program-but-sees-boeing-catching-up-idUSKBN1I31LB |
ING ‘particularly happy’ about first-quarter results, CFO says 8 Hours Ago | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/09/ing-particularly-happy-about-first-quarter-results-cfo-says.html |
‘Not very optimistic’ NK will denuclearize: Rubio 4:37pm BST - 00:43
Republican Senator Marco Rubio says he's 'not very optimistic' North Korean leader Kim Jong Un will give up his nuclear program. Rough Cut (no reporter narration). ▲ Hide Transcript ▶ View Transcript
Republican Senator Marco Rubio says he's 'not very optimistic' North Korean leader Kim Jong Un will give up his nuclear program. Rough Cut (no reporter narration). Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2KZ6vip | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/27/not-very-optimistic-nk-will-denuclearize?videoId=430877627 |
Interior Secretary Ryan Zinke on US energy 2 Hours Ago U.S. Secretary of the Interior Ryan Zinke speaks with CNBC's Brian Sullivan about the outlook for energy infrastructure and regulations in the U.S. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/23/interior-secretary-ryan-zinke-on-us-energy.html |
Blackstone Group LP, a large private-equity firm, has reached a deal to buy U.S. luxury hotel owner LaSalle Hotel Properties for about $3.7 billion, the companies said on Monday.
Real-estate investment trust LaSalle owns 41 hotels in 11 U.S. markets which are operated by other hotel companies. Blackstone will pay $33.50 a share in cash.
Monday’s... | ashraq/financial-news-articles | https://www.wsj.com/articles/blackstone-to-buy-lasalle-hotel-properties-for-3-7-billion-1526914973 |
Top 10 cheapest college towns Source: Joelfun | WIkipedia Jessica Dickler | @jdickler 20 Mins Ago
If you've spent every last dime on tuition, finding an affordable apartment — let alone a place to take a date — can be challenging.
With college costs soaring and student loan debt at a record high, students increasingly are factoring in the local cost of living into their decisions.
To that end, Student Loan Hero analyzed cost-of-living data from Numbeo , as well as room and board fees, to find the most affordable cities for students. Choosing a college in one of these cities or towns likely can save thousands over four years.
Many of the bargains are in the Midwest. A few may surprise you.
Here are the top 10: 10. Redding, California
Although California is home to some of the most expensive places to live in the country, students at Simpson University are getting a deal.
Undergrads in this Northern California city pay $8,724 for room and board per academic year — much less than students have to shell out at other private schools. With many national parks nearby, there's also plenty to do outside the classroom that costs nothing at all. Stephen Saks | Getty Images 9. Fort Wayne, Indiana
Students at schools in Fort Wayne can keep living expenses low, thanks to housing costs that are more than 25 percent below the national average. Students at Indiana University-Purdue University Fort Wayne, for example, pay just $6,982 a year in room and board.
For those on a budget, the city has also introduced a bike-sharing program and hosts free concerts every weekend. DenisTangneyJr | Reuters 8. Little Rock, Arkansas
Every one of the colleges in Little Rock offers affordable housing and meal plans. But there are plenty of inexpensive off-campus options as well. Rent for a one-bedroom in town is $738 a month, on average.
Plus, the riverfront city offers a slew of free attractions, including museums and gardens. Walter Bibikow | Getty Images 7. Huntsville, Alabama
College-goers in Huntsville not only save money on housing but also have plenty of fun around town, courtesy of events like the Rocket City Brewfest — an annual craft beer festival that kicks off each spring.
Of course, for space buffs, there's also discounted student admission to the U.S. Space & Rocket Center , the city's main attraction. Traveler1116 | Getty Images 6. Lubbock, Texas
Further off the beaten path, Lubbock is home to a public school and private religious university, with affordable places for college students to live and study.
Living off campus costs an average of $713 a month for a one-bedroom apartment, according to Numbeo. But barbecue may be the city's best deal. Dennis Tangney Jr. | Getty Images 5. Oklahoma City
Living in OKC, the capital of Oklahoma, is surprisingly affordable thanks to inexpensive rents and a wide variety of free activities from museums to nature preserves off of historic Route 66.
For a cheap date, try the city's First Friday Gallery Walk when many of the art galleries in the historic Paseo district offer complimentary snacks and drinks. Davel5957 | iStock | Getty Images 4. Tucson, Arizona
While the University of Arizona charges above-average prices for room and board, students can save a bundle by living off campus. The average one-bedroom apartment in Tucson, for example, costs just $649 per month.
Undergrads may even prefer living close to 4th Avenue, where there's an abundance of vintage shops, bars and restaurants — and they can still be just a stone's throw from campus. Getty Images 3. Toledo, Ohio
Toledo is another spot where college kids will save money by living off campus. A one-bedroom apartment in the center of this Ohio city is $661 a month, according to Numbeo.
For students on a budget, this college town has many other benefits as well, like a revitalized downtown anchored by a minor league ballpark and nightclubs, restaurants and brew pubs nearby. Jeff Friedman | Getty Images 2. Mobile, Alabama
The cost of living is often higher in a port city on the water, but that's not the case on Alabama's Gulf Coast. The majority of Mobile's colleges offer room and board at below-average prices, and the city has plenty for students to do downtown, including a huge Mardi Gras celebration that lasts for more than two weeks. Kathy Hicks | Getty Images 1. Springfield, Missouri
The Midwestern city, home to several colleges, nabbed the top spot thanks to very low rent and housing costs. A one-bedroom apartment in town costs just $556 a month, according to Numbeo.
Those on a budget also love this picturesque town's free concerts, museums and observatory, as well as an '80s arcade and drive-in movie theater. Source: Joelfun | WIkipedia | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/08/top-10-cheapest-college-towns.html |
EUGENE, Ore., May 08, 2018 (GLOBE NEWSWIRE) -- Quest Solution, Inc. (OTCQB:QUES), a specialty systems integrator focused on field and supply chain mobility announced progress on its turnaround plan and its financial results for the year ended December 31, 2017.
Highlights
Turnaround
Total operating expenses decreased $1M to $12.2M for year ended December 31, 2017, a $1.1 saving following the execution of August 2017 turnaround plan. Efficiency steps including consolidation of operations and a 44% reduction in headcount partially impacted 2017 and will have a full impact on 2018 results. $15.4M of debt was eliminated by settlement agreements; Minimal potential dilution of up to 15% of the Company shares. Shareholders’ Equity as of December 31, 2017 improved by $13.6M to a deficit of $1.2 compared to a deficit of $14.8M in 2016. Total liabilities as of December 31, 2017 decreased by over $20 million.
Financial Results:
Net cash provided from operations increased to $7.5M in fiscal year 2017 from $5.7M in 2016. Revenue for 2017 was $54.5M down from $60M in 2016 due to a discharge of non-profitable business. Adjusted EBITDA plus Stock Based Compensation for Fiscal Year 2017 increased by 78% to $1.78M Net loss from Continuous Operations decreased from $7.5M in fiscal year 2016 to $2.4 in Fiscal Year 2017. Approximately $12M decrease in Net loss attributable to the common stockholders from $14.2M ($0.4 per share) to $2.1 ($0.06 per share).
.
For the year ended December 31, 2017, Quest reported revenues of $54.5 million, compared to $60.0 million in the comparable 2016 period. Gross margin improved slightly to 21% for fiscal 2017 compared to 20% in fiscal 2016, During the year the Company drove a $466,000 or 20% reduction in general and administrative expense and a $457,000 or 5% reduction in salary and benefits. During 2017 the Company expensed $750,745 in non-cash stock based compensation. Excluding the charge for non-cash stock compensation, and over $145K of tax expense included in general and administrative expense, Quest would have achieved operating income for full year 2017. Total operational expenses for 2017 were over $1M less than in 2106. Net loss attributable to the common stockholders improved significantly to $2.1million, or a loss of $0.06 per share, compared to a net loss of $14.2 million, or a loss of $0.40 per share in 2016. Adjusted EBITDA (EBITDA plus Stock Based Compensation) for full year 2017 improved by 78% to $1,780,245, or 3.3% of sales, compared to $977,473, or 1.6% of sales for the previous year.
Shai Lustgarten, CEO, commented, “In July 2017, a new board of directors was elected to Quest Solution. The Board and new management team inherited a business with excellent customers and a strong reputation in the supply chain sector. We also inherited an extremely weak balance sheet, a consistent history of operating losses and the consequences of an acquisition that resulted in million of dollars of losses which coupled with these historic losses resulted in a $14M Shareholders Equity deficit. Management has initiated an aggressive turnaround plan including actions to drive a return to profitability, generate positive cash flow and improve the Company’s financial strength by negotiating with noteholders a settlement on their approximately $18M worth of notes. The plan also includes the addition of new technologies to our product offerings, and increasing margins and differentiating ourselves from our competitors. We have implemented efficiency measures by consolidating operations, cutting our headcount by approximately 44% and instituting other operational costs that favorably impacted a portion of the 2017 results. We expect that they will have a full impact on our 2018 financials. Following the close of the quarter, we announced a $15 million reduction of our notes liability. This positive development represents a significant improvement in our financial situation, but resulted in a delay in the release of our financial statements, as we needed to ensure that the transactions were properly accounted for. The combination of our efficiency measures and this meaningful debt reduction have improved Quest’s financial strength and stockholders’ equity, increased cash flow and profitability, and established the foundation for a healthier company going forward."
“We established clear goals for the turnaround of Quest and have made solid progress against these goals thus far. These goals included:
Improving the balance sheet Delivering sustained profitability by realizing efficiencies Improving performance by changing company culture, motivating employees and consolidating operations Adding advanced new technologies to elevate Quest’s profile as a high-tech company offering unique solutions, driving margin improvement and a stronger market position
“We are seeing tremendous opportunities in the evolving and growing markets in which we operate, and we are better positioned today to capitalize on these opportunities. Quest has built a solid base of blue chip customers and we are focused on expanding our customer reach as we continue to increase our capabilities and offerings. We remain focused on developing new and enhanced solutions to improve our competitive positioning with a particular focus on offering higher margin software solutions and services. This is a very exciting time for our Company and we remain dedicated to executing on the initiatives we’ve embarked upon to establish a profitable business with leadership position in the supply chain marketplace. I would like to thank our great team of employees, consultants and customers who have enabled us to execute this plan for the benefit of our shareholders.”
Please refer to the financial tables included below for a reconciliation of generally accepted accounting principles in the United States (“GAAP”) to non-GAAP financial results. Please refer to the financial tables included below for a reconciliation of GAAP to non-GAAP results.
About Quest Solution, Inc.
Quest Solution is a Specialty Systems Integrator focused on Field and Supply Chain Mobility. We are also a manufacturer and distributor of consumables (labels, tags, and ribbons), RFID solutions, and barcoding printers. Founded in 1994, Quest is headquartered in Eugene, Oregon, with offices in the United States.
Rated in the Top 1% of global solution providers, Quest specializes in the design, deployment and management of enterprise mobility solutions including Automatic Identification and Data Capture (AIDC), Mobile Cloud Analytics, RFID (Radio Frequency Identification), and proprietary Mobility software. Our mobility products and services offering is designed to identify, track, trace, share and connect data to enterprise systems such as CRM or ERP solutions. Our customers are leading Fortune 500 companies from several sectors including manufacturing, retail, distribution, food / beverage, transportation and logistics, health care and chemicals / gas / oil.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “ ” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify . Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the . Important factors that could cause these differences to: fluctuations in demand for Quest Solution, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, risks related to the sale of Quest Solution Canada Inc. to Viascan Group Inc. and other information that may be detailed from time-to-time in Quest Solution Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting Quest Solution, Inc. please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov . Quest Solution, Inc. undertakes no obligation to publicly update statements, otherwise, unless otherwise required by law.
Financial Tables Follow
QUEST SOLUTION, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(AUDITED)
For the twelve months ending December 31, 2017 2016 Revenues Total Revenues 54,458,845 60,047,124 Cost of goods sold Cost of goods sold 43,089,210 47,952,579 Gross profit 11,369,635 12,094,545 Operating expenses General and administrative 1,713,791 2,327,889 Salary and employee benefits 7,951,970 8,409,223 Depreciation and amortization 1,762,937 1,792,326 Professional fees 674,374 754,411 Other operating expenses 145,056 - Total operating expenses 12,248,128 13,283,849 Income (loss) from operations (878,493 ) (1,189,304 ) Other income (expenses): Gain on intangible - - Write-off of other assets (10 ) (450,000 ) Gain on extinguishment of other liabilities - 150,000 Interest expense (1,555,350 ) (4,531,263 ) Restructuring expense (26,880 ) (544,941 ) Gain on foreign currency - 129,589 Other (expenses) income 29,560 11,001 Total other expense (1,559,233 ) (5,235,614 ) Net Loss Before Income Taxes (2,431,175 ) (6,424,918 ) (Provision) benefit for Income Taxes Current - (1,068,352 ) Total Benefit for Income Taxes - (1,068,352 ) Net loss from continuing operations $ (2,431,175 ) $ (7,493,270 ) Net loss from discontinued operations - (6,851,875 ) Net loss attributable to Quest Solutions Inc. $ (2,431,175 ) $ (14,345,145 ) Less: Preferred stock – Series C dividend (289,695 ) (101,075 ) Net loss attributable to the common shareholders $ (2,141,480 ) $ (14,244,070 ) Net loss per share – basic $ (0.06 ) $ (0.40 ) Net loss per share – diluted $ (0.06 ) $ (0.40 ) Net loss per share from continuing operations – basic $ (0.06 ) $ (0.21 ) Net loss per share from continuing operations – diluted $ (0.06 ) $ (0.21 ) Net loss per share from discontinued operations – basic $ - $ (0.19 ) Net loss per share from discontinued operations – diluted $ - $ (0.19 ) Weighted average number of common shares outstanding – basic and diluted 35,814,751 35,947,523
QUEST SOLUTION, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(AUDITED)
Year Ended December 31, 2017 December 31, 2016 ASSETS Current assets Cash $ 24,634 $ 289,479 Restricted Cash 684,610 665,220 Accounts receivable, net 6,387,734 10,589,677 Inventory 439,720 531,593 Prepaid expenses 476,840 272,926 Deferred tax asset, current - - Other current assets 126,187 772,966 Assets held for disposal - - Total current assets 8,139,725 13,121,862 Fixed assets, net 92,803 136,835 Deferred tax asset, non-current - Goodwill 10,114,164 10,114,164 Trade name 2,359,481 2,936,481 Intangibles, net - - Customer Relationships, net 5,310,938 6,435,652 Other assets 39,513 47,563 Total assets $ 26,056,624 $ 32,792,557 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) Current liabilities Accounts payable and accrued liabilities $ 13,239,810 $ 10,566,066 Accrued interest and liabilities, related party 38,430 - Line of credit 3,667,417 5,059,292 Advances, related party - 100,000 Accrued payroll and sales tax 1,531,233 1,829,934 Deferred revenue, net 761,194 879,026 Current portion of note payable 3,429,025 9,782,925 Note payable, related party current 106,500 - Other current liabilities 121,118 227,932 Liabilities held for disposal - - Total current liabilities 23,894,727 28,445,175 Long term liabilities Note payable, related party, net of debt discount 3,222,900 17,515,345 Accrued interest and liabilities, related party 165,014 629,238 Long term portion of note payable 130,294 130,294 Deferred revenue, long term 452,024 565,423 Other long term liabilities 439,832 332,270 Total liabilities 27,304,791 47,617,745 Stockholders’ (deficit) Series A Preferred stock; $0.001 par value; 1,000,000 shares designated, 0 shares issued and outstanding as of December 31, 2017 and 2016, respectively - - Series B Preferred stock; $0.001 par value; 1 share designated, 0 shares and 0 share issued and outstanding as of December 31, 2017 and 2016, respectively - - Series C Preferred stock; $0.001 par value; 15,000,000 shares designated, 4,828,530 and 3,143,530 shares issued and outstanding as of December 31, 2017 and 2016, respectively, liquidation preference of $1 per share and a cumulative dividend of $0.06 per share 4,829 3,144 Common stock; $0.001 par value; 100,000,000 shares authorized; 36,828,371 and 35,095,763 shares issued and outstanding of December 31, 2017 and 2016 respectively 36,828 35,095 Common stock to be repurchased by the Company (230,490 ) (230,490 ) Warrants paid-in capital 120,000 - Additional paid-in capital 34,375,660 18,302,262 Accumulated (deficit) (35,554,994 ) (32,935,199 ) Total stockholders’ (deficit) (1,248,167 ) (14,825,188 ) Total liabilities and stockholders’ (deficit) $ 26,056,624 $ 32,792,557
QUEST SOLUTION, INC.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(UNAUDITED)
Year Ended December 31, 2017 December 31, 2016 Operating profit $ (878,493 ) $ (1,189,304 ) Depreciation 61,223 90,626 Amortization 1,701,714 1,701,700 Tax expense included in G&A 145,056 EBITDA 1,029,500 603,022 Stock base compensation 750,745 374,451 Adjusted EBITDA $ 1,780,245 $ 977,473 Investor Contact:
John Nesbett/Jen Belodeau
Institutional Marketing Services (IMS)
203.972.9200
[email protected]
Source:Quest Solution, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/globe-newswire-quest-solution-reports-progress-on-turnaround-plan-and-fiscal-year-2017-results.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/SB11182910543236833496604584228812669418646 |
General Electric Co.’s deal to spin off its railroad business to Wabtec Corp. unites the creations of two of the 19th century’s most famous inventors and rivals: Thomas Edison and George Westinghouse.
Both men filed their first patents in the 1860s and competed in the development of products that used electricity. Edison and Westinghouse famously battled over the future of electrical distribution—alternating current vs. direct current—resulting in insults and publicity stunts, including Edison electrocuting animals in his... To Read the Full Story Subscribe Sign In | ashraq/financial-news-articles | https://www.wsj.com/articles/why-thomas-edison-would-not-be-happy-about-ges-latest-deal-1527089584 |
NEW YORK--(BUSINESS WIRE)-- Regulatory News:
International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.69 per share of the Company’s common stock, payable on July 6, 2018 to shareholders of record as of June 25, 2018.
Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,300 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com , Twitter , Facebook , Instagram , and LinkedIn .
//www.businesswire.com/news/home/20180502006505/en/
International Flavors & Fragrances Inc.
Michael DeVeau
VP, Corporate Strategy, Investor Relations & Communications
212.708.7164
[email protected]
Source: International Flavors & Fragrances Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/business-wire-iff-declares-dividend-for-second-quarter-2018.html |
May 16 (Reuters) - Akers Biosciences Inc:
* AKERS BIOSCIENCES INC FILES NON TIMELY 10-Q - SEC FILING Source text: ( bit.ly/2k6a2jr ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-akers-biosciences-files-non-timely/brief-akers-biosciences-files-non-timely-10-q-sec-filing-idUSFWN1SN116 |
(Repeats from MAY 10, no changes to text)
* Chart: tmsnrt.rs/2rxY4mS
By John Kemp
LONDON, May 10 (Reuters) - The United States and Saudi Arabia seem to have an understanding to keep the oil market well supplied and avoid a significant price rise after the U.S. re-imposition of sanctions on Iran.
But exactly what this involves is not clear to the market, and may not even be clear to the two governments themselves, sowing uncertainty in the weeks ahead.
“We have had various conversations with various parties about different parties that would be willing to increase oil supply to offset [the impact of sanctions]” U.S. Treasury Secretary Steven Mnuchin told reporters on May 8.
“My expectation is not that oil prices go higher. To a certain extent some of this was already in the market, on oil prices,” Mnuchin added.
He declined to name the countries or companies involved but since Saudi Arabia holds most of the world’s spare production capacity it is likely to have been included.
In retrospect, the U.S. president’s April 20 tweet blaming OPEC for high oil prices can be seen as part of the negotiating.
The basic bargain appears to be that the United States will impose tough sanctions that curb Iran’s oil exports and in return Saudi Arabia will avoid a damaging and politically controversial spike in prices.
Saudi Arabia appeared to confirm the existence of an understanding by committing to maintain “the stability of oil markets” and more specifically to “mitigate the impact of any potential supply shortages”.
The kingdom committed to “work with major producers within and outside OPEC as well as major consumers” to limit the impact from possible supply disruptions.
The comments were made in an unusual statement issued by the kingdom’s ministry of energy and carried by the official news agency shortly after the sanctions were announced.
They were subsequently confirmed by the energy minister in a statement on Twitter and in briefings with news organisations.
MONITORING MODE While the existence of an understanding seems fairly well confirmed, its content remains a mystery.
Neither Saudi Arabia nor the United States have indicated a specific price level that would trigger a production increase, and the kingdom has declined to give a specific commitment to replace any fall in Iranian oil exports now or in the future.
Instead, Saudi sources have briefed the media to say the kingdom would not act alone to increase production and intends to consult with other OPEC and non-OPEC members.
OPEC sources have indicated the organisation has up to 180 days, until the end of the sanctions phase-in period, before needing to decide whether to increase output elsewhere to compensate for Iran.
The safest thing for OPEC may be to leave output unchanged in the near term and monitor the situation (“OPEC in no hurry to decide if extra oil needed to offset Iran”, Reuters, May 10).
In the past, Saudi Arabia has usually been slow to raise production in response to rising prices, preferring the extra revenue to using spare capacity to put a lid on prices.
But in a market like oil, traders will respond to the prospect of supply curbs in future by driving up the price now.
So if Saudi Arabia and its allies stall, the market will reach its own judgement about the impact on the supply-demand balance.
(MIS)UNDERSTANDING? The United States and Saudi Arabia may have reached a detailed agreement on how to handle the prospective reduction of Iranian oil exports and its impact on oil prices.
But it is also possible that they have reached nothing more than a vague high-level political consensus or “gentleman’s agreement” and plan to improvise. If so, that leaves plenty of room for misunderstandings and uncertainty.
The recent rise in crude oil prices will very likely push average U.S. gasoline prices above the psychologically important threshold of $3 per gallon next week, for the first time since 2014 ( tmsnrt.rs/2rxY4mS ).
And if prices continue to escalate, they could become a political issue in the United States ahead of congressional elections in November.
Neither the Trump administration nor Saudi Arabia will want to be blamed for driving oil prices significantly higher.
The U.S. president has already said that oil prices are “artificially very high” and this “will not be accepted”, while Saudi Arabia has been trying to push prices higher, and resisting calls for it to ease production curbs.
Saudi officials have said that the market can absorb higher prices, though they do not want them to rise too much. But there is a lot of uncertainty about how much is “too much”.
In the end, Saudi Arabia and the United States may have differing views about what would constitute an unacceptable spike in prices in response to sanctions.
Whatever they may want, benchmark Brent futures prices have risen by almost $4 per barrel or 5 percent over the last week, and more than $6 or 9 percent higher over the last month, and are still trending higher.
Related columns:
- Sanctions spell the end of OPEC output deal, Reuters, May 9
- Saudi Arabia wants higher prices to kick oil addiction, Reuters, May 3
- Rising oil prices put demand destruction back on the agenda, Reuters, May 2
- Mission accomplished for OPEC as oil moves from slump to boom, Reuters, April 24
- OPEC pact likely to evolve rather than terminate, Reuters, Feb. 24 (Editing by Alexander Smith)
| ashraq/financial-news-articles | https://www.reuters.com/article/oil-prices-kemp/rpt-column-oil-price-rise-poses-challenge-for-sanctions-policy-kemp-idUSL8N1SH5IK |
KENT, Wash., May 31, 2018 /PRNewswire/ -- Oberto Brands announced today that it has completed the sale of its assets and operating divisions to Premium Brands Holdings Corporation.
"Our family is proud to have built and run Oberto for the last century," said Mr. Art Oberto, Chairman Emeritus. Mr. Oberto took over the family business in 1943 at age 16 and still today maintains close ties with it. "The sale of our business to Premium Brands not only ensures that its culture and values will be honored, but it will position Oberto for another 100 years of success."
"I would also like to take this opportunity to thank all of our consumers, customers, employees, and suppliers for their support over the years," said Mr. Oberto.
"While we have been successful as a family-owned business for decades, we are very excited about the opportunity to leverage the resources and expertise of Premium Brands to accelerate our growth," said Mr. Tom Hernquist, Oberto's President and CEO. "Consistent with Premium Brands' core value of respecting the culture and legacies of its partner companies, we will be keeping our headquarters and manufacturing operations here in Kent, and we will continue to deepen our relationship with the broader Seattle community."
Founded in 1918, Oberto is one of North America's leading manufacturers of beef jerky and other protein-based snack foods. Its brand is iconic in the Pacific Northwest, where hydroplanes racing on Lake Washington during Seafair have long born its logo. The company employs close to 500 people and has a proud legacy of commitment to the community. Its brands include Oberto, Pacific Gold, Pacific Gold Reserve, Lowrey's and Cattleman's Cut.
Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across the United States and Canada. Additional information on its businesses and investment philosophies is available on its website at www.premiumbrandsholdings.com .
Media Contact:
Marc Berger, [email protected]
402-730-5666
View original content: http://www.prnewswire.com/news-releases/oberto-brands-sale-closes-secures-future-success-300657283.html
SOURCE Oberto Brands | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/pr-newswire-oberto-brands-sale-closes-secures-future-success.html |
May 11, 2018 / 8:20 PM / Updated 11 minutes ago GLOBAL LNG-June prices slip on healthy supply Reuters Staff 3 Min Read
May 11 (Reuters) - Asian spot prices for liquefied natural gas (LNG) edged lower over the past week amid plentiful supply, despite strong oil and coal markets.
Asian LNG prices for delivery in June LNG-AS slipped 20 cents to $7.90 per million British thermal units (mmBtu), and the July contract was assessed at $8.20 per mmBtu.
Demand emerged from several countries, including Mexico, Argentina, Taiwan, Kuwait, Turkey and India, but supply kept pace as producers from Indonesia to Trinidad churned out cargoes sold via tenders.
LNG markets are in the midst of the northern hemisphere’s low-demand spring season, during which little gas is typically used, except that demand has been relatively strong this year, driven not just by China but also by India and South America.
Stronger coal and oil markets lent little support this week.
Brent crude traded at $77.12 a barrel, just below the $78-level hit on Thursday, its highest since November 2014.
Benchmark European API2 next-year coal futures, meanwhile, rose by 1.7 percent to $87.95 a tonne on Friday, their highest level since the end of December.
Coal demand in Asia is strong and Chinese domestic prices have been rising on concerns about import restrictions.
Coal and gas markets are linked as they are the main fossil fuel competitors in power generation.
Overall, the LNG market in Asia has tightened over the past year, with the winter seasonal demand peak (December/January) and spring low (April/May) seeing significantly higher prices in 2017/2018 than in 2016/2017. TRADES AND TENDERS
In physical markets, India’s Gujarat State Petroleum Corporation is expected to pick a supplier before the weekend for its tender seeking seven cargoes for June 2018 to March 2019.
Shell is to fill the majority of Mexico’s demand for six cargoes for delivery across May and June. Argentina’s state-run Enarsa sought eight cargoes over July-August.
Trinidad’s Point Fortin LNG Exports likely awarded its tender to sell a June 8-loading cargo this week.
Traders also awaited the results of sell tenders by Angola for cargoes loading in May and June, respectively.
Kuwait Petroleum Corp sought a June cargo, paying an estimated $7.80 per mmBtu, according to traders.
Meanwhile, Exxon Mobil’s Papua New Guinea export plant has offered two cargoes for May and June. Reporting by Oleg Vukmanovic in LONDON; Editing by William Maclean | ashraq/financial-news-articles | https://www.reuters.com/article/global-lng/global-lng-june-prices-slip-on-healthy-supply-idUSL8N1SI683 |
DUBAI (Reuters) - Iran has asked OPEC to support it against new U.S. sanctions and signalled it is not yet in agreement with Saudi Arabia’s views on the possible need to increase global oil supplies, creating potential problems for OPEC at its meeting next month.
Iran's Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, November 30, 2017. REUTERS/Heinz-Peter Bader Iran, the arch-rival of Saudi Arabia, has a history of being difficult at OPEC meetings including in 2015 when the country refused to sign up to OPEC policies, saying it needed to raise output due to the easing of sanctions following Tehran’s accord with major world powers.
U.S. President Donald Trump earlier this month pulled out of that nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member. Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia and Iraq.
“I would like to ... seek OPEC’s support in accordance with Article 2 of the OPEC Statute, which emphasises safeguarding the interests of member countries individually and collectively,” Iranian Oil Minister Bijan Zanganeh said in a letter seen by Reuters.
Zanganeh also suggested in the letter that Iran was not in agreement with some OPEC ministers’ recent comments on the oil market. He said some OPEC ministers “have implicitly or unwittingly spoken for the organization, expressing views that might be perceived as the official position of the OPEC.”
The energy ministers of Saudi Arabia and Russia said last week they were prepared to ease output cuts to calm consumer worries about supply.
Raising output would bring an end to about 18 months of strict supply curbs amid concerns that oil price have risen too far. Oil price have hit their highest since late 2014, rising above $80.50 a barrel this month, but have since eased.[O/R]
Since the original sanctions were lifted, Iran has struggled to raise production above 4 million barrels per day due to a lack of new projects and the caution of Western investors.
So if OPEC decides to increase supplies, Iran is likely to benefit less than Saudi Arabia because it would struggle to raise output while it would also be hit by lower oil prices.
Zanganeh’s letter was addressed to the United Arab Emirates Energy Minister Suhail al-Mazrouei, who holds OPEC presidency in 2018.
Zanganeh also said that if the latest U.S. sanctions threat was resolved “Iran reserves the right to return to its oil market share in the shortest possible time and resumes its normal production-level and will not accept any limitations in this regard.”
Zanganeh asked Mazrouei to include a separate agenda item for the June OPEC meeting entitled “OPEC Ministerial Conference support to the Member Countries that are under illegal, unilateral and extraterritorial sanctions.”
In a separate letter, Mazrouei replied that there were two options available to discuss this issue.
The first is for the OPEC governors to review the request and include it for discussion in OPEC’s meeting later this year, which could be held in November, according to the letter seen by Reuters.
The second option is to include it in the June meeting under “any other business” as a “Request from the Islamic Republic of Iran”, Mazrouei said, suggesting it will not be on the main agenda for the ministers.
OPEC governors meet next in October.
Reporting by Rania El Gamal, Writing by Dmitry Zhdannikov; Editing by Jane Merriman
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/us-oil-opec-iran/iran-seeks-opec-support-against-u-s-sanctions-letter-idUSKCN1IV2HF |
May 13, 2018 / 6:31 PM / Updated 14 minutes ago Tennis: Zverev crushes Thiem to win Madrid title Reuters Staff 1 Min Read
MADRID (Reuters) - Germany’s Alexander Zverev produced a clinical display to crush Dominic Thiem 6-4 6-4 in the Madrid Open final on Sunday. Tennis - ATP 1000 - Madrid Open - Madrid, Spain - May 13, 2018 Germany's Alexander Zverev celebrates winning the final against Austria's Dominic Thiem REUTERS/Sergio Perez
The second seed broke a nervy-looking Thiem in the opening game thanks to a double-fault and was never really challenged as he claimed his third Masters 1000 title.
Zverev, 21, broke again right at the start of the second but squandered the chance of a double-break two games later as Thiem, conqueror of Rafael Nadal in the last eight, hung on. Slideshow (3 Images)
There was no chance of a let-up from Zverev though and he remained focused throughout, winning on his first match point when his Austrian opponent returned long.
Zverev did not face a single break point as he became only the fifth active player to win at least three Masters 1000 titles — joining the ‘big four’ of Rafael Nadal, Roger Federer, Novak Djokovic and Andy Murray. Reporting by Martyn Herman; Editing by Toby Davis | ashraq/financial-news-articles | https://www.reuters.com/article/us-tennis-madrid-men/tennis-zverev-crushes-thiem-to-win-madrid-title-idUSKCN1IE0Y4 |
May 18 (Reuters) - Mkango Resources Ltd:
* MKANGO SIGNS DEFINITIVE AGREEMENTS WITH TALAXIS FOR SONGWE AND MAGINITO INVESTMENTS, AND FUTURE COLLABORATION IN RARE EARTHS SECTOR AND MALAWI
* MKANGO AND TALAXIS LTD WILL ACQUIRE UP TO A 75% INTEREST IN LANCASTER EXPLORATION LTD AND UP TO 49% OF MAGINITO LTD Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-mkango-signs-definitive-agreements/brief-mkango-signs-definitive-agreements-with-talaxis-for-songwe-and-maginito-investments-idUSFWN1SP069 |
May 3 (Reuters) - Alamo Group Inc:
* Q1 SALES ROSE 10.5 PERCENT TO $238.1 MILLION * QUARTER END BACKLOG AT $237.8 MILLION, UP 62.0% COMPARED TO PREVIOUS YEAR’S Q1 Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-alamo-group-announces-q1-earnings/brief-alamo-group-announces-q1-earnings-per-share-1-24-idUSASC09ZIU |
NEW YORK, May 3, 2018 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE) today announced that it will report financial results for the second quarter 2018 ended March 31, 2018 on Wednesday, May 9, 2018, prior to the open of market trading. Management will host a conference call at 9:00 a.m. ET / 2:00 p.m. UK to discuss the quarterly results and general business trends; access details are provided below.
Conference Call
The dial-in number is 1-877-870-4263 for participants in the United States and 1-412-317-0790 for participants outside the United States. Participants should ask to be joined into the Inspired Entertainment call. A replay of the call will be available one hour after the conclusion of the call until May 16, 2018 by dialing 1-877-344-7529 for listeners in the United States, or 1-412-317-0088 for listeners outside the United States, via replay access code 10120001 . A replay of the call will also be available on the Company's website at www.inseinc.com .
About Inspired Entertainment, Inc.
Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and Server Based Gaming systems with associated terminals and digital content to regulated lottery, betting and gaming operators around the world. Inspired currently operates approximately 30,000 digital gaming terminals and supplies its Virtual Sports products through more than 40,000 retail channels and over 100 websites, in approximately 35 gaming jurisdictions worldwide. Inspired employs approximately 800 employees in the UK and elsewhere, developing and operating digital games and networks. Additional information can be found at www.inseinc.com .
Forward Looking Statements
This press release contains " " within the meaning of the "safe harbor" This news release contains " " within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on 'our management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Such are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the . Accordingly, should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in can be found in our reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K, which are available, free of charge, at the SEC's website at www.sec.gov and our site at www.inseinc.com .
Contact :
For Investors
Daniel Silvers
[email protected]
+1 646 820-0860
For Press and Sales
Elinor Fewster
[email protected]
t: +44 20 7456 9016 | m: +44 7973808951
View original content with multimedia: http://www.prnewswire.com/news-releases/inspired-entertainment-inc-announces-second-quarter-2018-results-to-be-released-on-may-9-2018-at-730-am-et-conference-call-to-follow-300642526.html
SOURCE Inspired Entertainment, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/pr-newswire-inspired-entertainment-inc-announces-second-quarter-2018-results-to-be-released-on-may-9-2018-at-730-am-et-conference-call-to.html |
LONDON (Reuters) - Royal Dutch Shell said on Monday a declaration of force majeure remained in place on shipments of Nigerian Bonny Light crude oil.
Shell’s Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Ltd (SPDC) said on May 17 it had declared force majeure on exports of Bonny light following a shutdown on the Nembe Creek Trunk Line stream.
Exports of Bonny Light are expected to run at around 195,000 barrels per day next month, making it Nigeria’s third largest crude oil stream, behind Forcados and Qua Iboe.
Reporting by Amanda Cooper; editing by Jason Neely
| ashraq/financial-news-articles | https://www.reuters.com/article/us-oil-nigeria/shell-says-force-majeure-still-in-place-on-nigerian-bonny-crude-idUSKCN1IM0NS |
FORE-SIGHT sales increase 22%; U.S. FORE-SIGHT sales increase 21%
Company raises 2018 U.S. and international FORE-SIGHT sales guidance
Conference Call Begins at 10:00 a.m. Eastern Time Today
BRANFORD, Conn., May 10, 2018 (GLOBE NEWSWIRE) -- CAS Medical Systems, Inc. (NASDAQ:CASM) (CASMED), a leader in medical products for non-invasive patient monitoring of tissue oxygenation, today reported financial results for the three months ended March 31, 2018.
Net sales from continuing operations for the first quarter of 2018 were $5.4 million, up 20% from $4.5 million for the first quarter of 2017. The Company incurred a net loss applicable to common stockholders of $1.8 million, or $0.07 per share, for the first quarter of 2018, compared with a net loss of $2.2 million, or $0.08 per share, for the first quarter of 2017.
In July 2017, the Company sold its non-invasive blood pressure product line and has reclassified those results to discontinued operations for the three months ended March 31, 2017.
Highlights of the first quarter of 2018, compared with the first quarter of 2017, include the following:
Total FORE-SIGHT® cerebral oximetry sales increased 22% to $5.3 million. U.S. FORE-SIGHT cerebral oximetry sales increased 21% to $4.5 million. Total FORE-SIGHT sensor sales increased 18%, and U.S. FORE-SIGHT sensor sales increased 14%. Gross profit margin improved to 56.7% from 54.6%. A record net 111 FORE-SIGHT cerebral oximeters were shipped worldwide. A net 72 monitors were shipped in the U.S., bringing the adjusted installed base of U.S. monitors to 1,345 as of March 31, 2018, up 25% from the prior-year adjusted base of 1,079 units. As of March 31, 2018, the Company’s cash balance plus cash available under its line of credit was $6.6 million. On May 8, 2018, the Company replaced its debt facilities by executing a $10-million term loan with 18 months of interest-only payments and a $2.0-million revolving line of credit, adding approximately $2.3 million to the Company’s cash balance on that date.
Management Commentary
“We are reporting exceptional across-the-board financial and operating results for the quarter,” said Thomas M. Patton, President and Chief Executive Officer of CASMED. “Among the highlights, total FORE-SIGHT sales increased 22% from the prior year and featured a 21% increase in U.S. FORE-SIGHT sales. A record 111 monitors were shipped during the quarter, of which 72 were placed with U.S. customers. This follows a record 80 monitors shipped domestically in the fourth quarter of 2017. We ended the first quarter with a 25% increase in our domestic installed base over the prior year.
“We also significantly decreased our cash consumption during the quarter, through sales growth, margin expansion, expense management, and working capital improvements. During the quarter, the Company consumed just $360,000, excluding principal payments on our term loan.
“Effective execution of our sales strategy is producing strong results. Domestic growth over the past several quarters has been driven by broad productivity gains across our upgraded sales organization as our newer sales representatives continue to gain tenure. Additionally, the hospital systems initiatives are continuing to prove effective in winning new accounts. Most of our new accounts came from competitive wins in the first quarter, which speaks to the superiority of our FORE-SIGHT technology. As a result, we shipped more monitors in the U.S. in the last two quarters combined than we did in the preceding four quarters.
“Given our outstanding performance during the first quarter and our outlook for the remainder of the year, we are raising our FORE-SIGHT sales guidance for 2018. We now expect U.S. FORE-SIGHT sales to increase in the mid-teen percentages over 2017, driven by mid-teen percentage growth in domestic sensor sales. We are also raising our expectation for international FORE-SIGHT sales growth to high single-digit percentages. As a result, we are raising our expectations for 2018 total FORE-SIGHT revenues to increase in the mid-teen percentages over 2017,” he added.
First-Quarter Financial Results
Net sales from continuing operations for the first quarter of 2018 increased 20% to $5.4 million, from $4.5 million for the first quarter of 2017. Total FORE-SIGHT oximetry sales for the first quarter of 2018 increased 22% to $5.3 million, from $4.3 million in the prior-year period. Total FORE-SIGHT disposable sensor sales for the first quarter of 2018 increased 18% to $4.7 million, from $4.0 million for the prior-year period. U.S. FORE-SIGHT sales for the first quarter of 2018 increased 21% to $4.5 million, from $3.7 million for the first quarter of 2017. U.S. FORE-SIGHT disposable sensor sales for the first quarter of 2018 increased 14% to $4.0 million, from $3.5 million for the prior-year period. International FORE-SIGHT sales for the first quarter of 2018 increased 31% to $0.8 million, versus $0.6 million for the first quarter of 2017.
Gross profit margin for the first quarter of 2018 was 56.7%, an improvement from 54.6% for the prior-year period, largely due to higher disposable sensor sales, higher gross margins on monitor sales, and lower manufacturing and service repair costs as a percentage of sales.
The operating loss for the first quarter of 2018 was $1.1 million, an improvement of $0.7 million from an operating loss of $1.9 million for the first quarter of 2017. Higher sales and lower operating expenses were responsible for the improvement. Operating expenses for the first quarter of 2018 decreased 3% to $4.2 million, from $4.4 million in the prior-year period. R&D expenses were unchanged at $0.8 million for the first quarters of 2018 and 2017. S,G&A expenses for the first quarter of 2018 were $3.4 million, versus $3.6 million for the first quarter of 2017, with the decrease due primarily to the prior year’s bad debt provisions partially offset by higher sales and marketing expenses.
Cash, cash equivalents, and available borrowings under the line-of-credit were $6.6 million as of March 31, 2018. Following the first quarter, on May 8, 2018, the Company replaced its debt facility by entering into a new agreement with East West Bank for a $10.0 million term loan with 18 months of interest-only payments and a $2.0 million line of credit.
Conference Call Information
CASMED will host a conference call beginning at 10:00 a.m. Eastern time today to discuss these results and answer questions. Conference call dial-in information is as follows:
U.S. callers: (866) 239-5859 International callers: (702) 495-1913
Individuals interested in listening to the live conference call via the Internet may do so by logging on to the Company's website at http://corporate.casmed.com/ .
A telephone replay will be available from 1:00 p.m. Eastern time on May 10, 2018, through 11:59 p.m. Eastern time on May 23, 2018. Replay dial-in information is as follows:
U.S. callers: (855) 859-2056 International callers: (404) 537-3406 Conference ID number (U.S. and international callers): 4358709 The replay will also be available at www.casmed.com .
About CASMED ® – Monitoring What's Vital
CASMED’s vision is that “No patient is harmed from undetected tissue hypoxia.” Our FORE-SIGHT® Cerebral Oximeters provide a highly accurate, non-invasive measurement of tissue oxygenation in the brain. Direct monitoring of tissue oxygenation can provide clinicians with a superior and powerful tool to alert them to otherwise unrecognized and dangerous hypoxia, or low levels of oxygen, in the brain and other tissue, thereby empowering them to improve patient care. For further information regarding CASMED, visit the Company's website at www.FORE-SIGHT.com .
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties , the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company’s Form 10-K for the year ended December 31, 2017, and other subsequent Securities and Exchange Commission filings.
Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate," "believe," "estimate," "expect," “guidance,” "may," "objective," "plan," "possible," "potential," "project," "will,” and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Company Contact
CAS Medical Systems, Inc.
Jeffery A. Baird
Chief Financial Officer
(203) 315-6303
[email protected]
Investors
LHA Investor Relations
Bruce Voss / Jody Cain
(310) 691-7100
[email protected]
[email protected] (Tables to follow)
CAS MEDICAL SYSTEMS, INC. BALANCE SHEETS Unaudited March 31, December 31, 2018 2017 Cash and cash equivalents $ 4,761,708 $ 5,652,996 Accounts receivable 2,705,204 2,918,950 Inventories 927,253 1,076,261 Other current assets 332,649 353,079 Total current assets 8,726,814 10,001,286 Property and equipment 8,455,441 8,251,236 Less accumulated depreciation (6,321,261 ) (6,080,350 ) 2,134,180 2,170,886 Intangible and other assets, net 796,663 802,391 Total assets $ 11,657,657 $ 12,974,563 Accounts payable $ 852,368 $ 691,596 Accrued expenses 1,748,204 1,651,873 Notes payable 57,754 86,079 Current portion of long-term debt, less unamortized debt issuance costs 3,018,713 2,733,831 Liabilities associated with discontinued operations - 35,000 Total current liabilities 5,677,039 5,198,379 Long-term debt, less current portion, less unamortized debt issuance costs 4,183,415 4,943,195 Other long-term liabilities 320,000 320,000 Total liabilities 10,180,454 10,461,574 Series A convertible preferred stock 8,802,000 8,802,000 Series A exchangeable preferred stock 5,135,640 5,135,640 Common stock 115,183 114,487 Additional paid-in capital 32,370,572 31,989,207 Treasury stock (101,480 ) (101,480 ) Accumulated deficit (44,844,712 ) (43,426,865 ) Total stockholders' equity 1,477,203 2,512,989 Total liabilities & stockholders' equity $ 11,657,657 $ 12,974,563
CAS MEDICAL SYSTEMS, INC. STATEMENTS OF OPERATIONS Unaudited Three Months Ended March 31, 2018 March 31, 2017 Net sales from continuing operations $ 5,444,459 $ 4,543,378 Cost of sales 2,357,721 2,061,260 Gross profit 3,086,738 2,482,118 Operating expenses: Research and development 801,638 786,577 Selling, general and administrative 3,431,431 3,574,267 Total operating expenses 4,233,069 4,360,844 Operating loss (1,146,331 ) (1,878,726 ) Interest expense, net 271,516 259,552 Loss from continuing operations before income taxes (1,417,847 ) (2,138,278 ) Income tax benefit - (103,172 ) Loss from continuing operations (1,417,847 ) (2,035,106 ) Discontinued operations: Income from discontinued operations before income taxes - 294,778 Income tax expense - 103,172 Income from discontinued operations - 191,606 Net loss (1,417,847 ) (1,843,500 ) Preferred stock dividend accretion 414,815 387,006 Net loss applicable to common stockholders $ (1,832,662 ) $ (2,230,506 ) Loss per common share from continuing $ (0.07 ) $ (0.09 ) Income per common share from discontinued operations: Basic and diluted $ - $ 0.01 Per share basic and diluted net loss applicable to common stockholders: $ (0.07 ) $ (0.08 ) Weighted-average number of common shares outstanding: Basic and diluted 27,611,787 27,025,999
Source:CAS Medical Systems, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-casmed-reports-first-quarter-2018-financial-results.html |
MOSCOW (Reuters) - Armenia’s ruling Republican Party said on Tuesday that its lawmakers would not vote to install protest leader Nikol Pashinyan as prime minister even though he was the only candidate for the post.
Pashinyan, who led weeks of protests that forced Prime Minister Serzh Sarskyan to resign last week, said the party’s decision not to back his candidacy was an “insult to the people.”
Reporting by Hasmik Mkrtchyan; Writing by Gabrielle Tétrault-Farber; Editing by Christian Lowe
| ashraq/financial-news-articles | https://www.reuters.com/article/us-armenia-politics-party/armenia-ruling-party-says-wont-vote-for-protest-leader-as-pm-idUSKBN1I240S |
(adds source text link)
May 23 (Reuters) - Luoniushan Co Ltd:
* SAYS SHARE TRADE TO HALT FROM MAY 24 PENDING REVIEW OF RECENT UNUSUAL SHARE PRICE MOVEMENTS Source text in Chinese: bit.ly/2IGXUUU Further company coverage: (Reporting by Hong Kong newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/idUSH9N1SP00E |
JOHANNESBURG (Reuters) - South African President Cyril Ramaphosa has authorized an investigation into allegations of irregularities and unlawful conduct at several government departments, the presidency said on Friday.
FILE PHOTO: South African Deputy President Cyril Ramaphosa speaks with journalists at the World Economic Forum on Africa 2017 meeting in Durban, South Africa, May 5, 2017. REUTERS/Rogan Ward/File Photo The decision is the latest by Ramaphosa to tackle alleged corruption and misgoverance in the administration of his predecessor Jacob Zuma, who was forced from office in February by the ruling African National Congress.
The presidency said in a statement that the proclamations authorize investigations of “allegations of serious irregularities in relation to procurement of goods” and “improper or unlawful conduct by employees or officials.”
The targeted institutions include The National Department of Public Works and several departments and municipalities in the provincial Eastern Cape government.
The probes will be conducted by the Special Investigation Unit, which has a broad remit to look into “serious malpractices or maladministration in the administration of the state.”
Reporting by Ed Stoddard; Editing by Matthew Mpoke Bigg
| ashraq/financial-news-articles | https://www.reuters.com/article/us-safrica-politics/south-africas-ramaphosa-authorizes-graft-probe-into-government-departments-idUSKCN1IQ1YG |
U.S. CRUDE FUTURES RISE TO SESSION HIGH OF $69.63 A BARREL, THE HIGHEST SINCE NOVEMBER 2014 | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/04/reuters-america-u-s-crude-futures-rise-to-session-high-of-69-point-63-a-barrel-the-highest-since-november-2014.html |
May 24, 2018 / 3:29 PM / Updated 14 minutes ago Morgan Stanley shareholders side with board at annual meeting Reuters Staff 1 Min Read
PURCHASE, N.Y. (Reuters) - Morgan Stanley shareholders sided with the company’s board on all votes taken at their annual meeting on Thursday, electing the slate of directors and endorsing the company’s compensation of top executives. FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, New York January 20, 2015. REUTERS/Mike Segar/File Photo
All of the board nominees received at least 98 percent of votes cast and some 96 percent approved of executive pay, according to preliminary results announced at the end of the formal part of the meeting.
Chief Executive Officer James Gorman was paid $27 million for 2017, up 20 percent from the year before.
A shareholder proposal to prohibit vesting of stock awards for senior executives who resign to work for the government received was opposed by the board and received about 20 percent of votes cast. The measure had been proposed by an investment fund of the AFL-CIO labour organisation. Reporting by David Henry in Purchase, New York.; Editing by Chizu Nomiyama | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-morgan-stanley-agm/morgan-stanley-shareholders-side-with-board-at-annual-meeting-idUKKCN1IP2PY |
A considerable amount of discussion has taken place since President Trump took an aggressive stance confronting Amazon as being "too huge."
But a more important question is how we as a society feel about the impact of the entire online tsunami.
The rapidly increasing trend to purchase items online has left in its wake decimated neighborhoods, shopping environments and shopping centers across America. Sure, there are many other factors affecting this trend besides on-line merchandising -- most notably real estate firms which have accelerated neighborhood declines by escalating rents -- but those factors combined have decimated downtown and suburban shopping areas and have had a major impact on our way of life. (Have you noticed the increasing proliferation of "FOR RENT" & "VACANT" signs?) This decline has brought a deterioration in places where people congregated, socialized, made friends and were greeted by a friendly face offering an intangible element of belonging to a community.
In 2000, Robert Putnam's best seller, " Bowling Alone ," reflected on the gradual decline of social interaction which had previously defined and built our society. Initial homesteading communities pioneered our country. Together -- against forces of nature -- we gradually developed to become the leading economic nation as we spread across the country, while simultaneously retaining a sense of community.
We were a nation of joiners, sewing clubs, bridge, girl and boy scouts, church or other religious groups and bingo nights at the local community centers. All of these places offered an opportunity to get close to one another and bond with locals in your community. In the process, we developed friendships and a sense of togetherness. I'm aging myself here, but I can remember when attending bingo nights, belonging to a bowling league or attending a dance where young people, in particular, found friendship and coupled up, were part of a weekly or monthly routine.
In a world where our lives are now confined behind a screen and interaction with our neighbors seems to have become a chore, we need to look at how companies like Amazon have impacted our communities.
As prescient as Putnam was, even he couldn't imagine America as a place where instead of going to the hardware store or coffee shop on Main Street on Saturday morning, we're going into our Macbooks to online shop and watch Netflix. We now don't need to leave our homes to find our "significant other," shop, or go to our local movie theatre or even more importantly speak with friends on the phone. We can entertain ourselves behind screens; and, perhaps the thing most severely changing group dynamics is texting rather than picking up the phone and having a conversation or communicating, if you call it that, through Snapchat, Instagram, Facebook, Pinterest – you name it.
What concerns me is not necessarily just whether Amazon is getting "too huge," but if these trends continue, whether technology will ultimately undermine togetherness and the social fabric of our society.
Are we willing to give up our community in exchange for lower prices and faster delivery times? What are the changes in our pattern of purchasing and entertainment doing to our social interactions? Sure, we want lower costs, more convenience, and access to new technologies. However, in the process, do we want to destroy all potential sources of human interaction?
The sudden attack on Amazon is but a reflection of the foundational loss of human communications.
So where does that leave us? Do we just accept the idea that physical retailing is dead and that we are destined to have local communities filling empty spaces with restaurants, WeWorks and massage parlors. Or do we try to save our neighborhood stores and the original uniqueness of places like Macy's, Borders and Toys R Us?
What they offered us was the opportunity to explore our five senses: taste, feel, smell, sight and sound.
Perhaps that points a way to recovery. As price-conscious shoppers have moved online, retailing has become more of an experiential activity. (A great example of that is the recent creation of the Museum of Ice Cream .)
Couple these experiences with increased depth and variety of offerings and faster delivery for items that aren't in the store, which may require the efforts of many smaller entities -- imparting the benefits of cooperative association.
Above all else, encourage a program of patronizing your local bookstore, supermarket, shoe store, you name it, in the interest of maintaining the life of your community, even at some expense. Germany has done it successfully, why not neighborhood USA?
Alan Patricof is the co-founder and managing director of Greycroft. He also founded Apax Partners, one of the largest private equity firms globally.
For more insight from CNBC contributors, follow @CNBCopinion on Twitter.
show chapters Cramer Remix: Hold the obits—the mall is alive and well 7:21 PM ET Tue, 27 March 2018 | 01:13 | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/02/the-amazon-effect-could-leave-all-americans-neighborless-commentary.html |
FALLUJA, Iraq (Reuters) - Braving a nationwide driving ban, hundreds of Iraqis walked through Falluja and stepped over barbed wire surrounding a school to vote in a parliamentary election they hope will help a city far from recovering from years of conflict and upheaval.
A candidate's poster lies on the ground near an "I love Falluja" sign during an Iraqi parliamentary election in Falluja, Iraq May 12, 2018. REUTERS/Ahmed Aboulenein For them the election is not merely the first since the Islamic State militants who seized their city four years ago were defeated. Falluja’s suffering is multi-layered.
It is also the first vote since U.S. troops who invaded Iraq in 2003 and pulverized much of their city in an offensive against insurgents left the country in 2011.
But casting a ballot for a parliament that will choose a prime minister presented its own challenges.
At least 80 voters in the Falluja Model Middle School for Boys, which was recently rebuilt after being leveled to the ground by U.S.-led coalition air strikes on Islamic State militants, were told they could not vote because they had the wrong type of voting cards, poll workers said.
Technical issues resulting from the introduction of a new electronic voting system soured the election in Falluja.
Some had incorrect information on their cards, or were directed to the wrong polling station.
Despite evidence to the contrary, many believe that the obstacles were put up to prevent Falluja’s Sunni population from voting, underscoring the sectarian tensions Iraq still grapples with 15 years after a U.S.-led invasion toppled Saddam Hussein.
Iraq’s minority Sunnis dominated Iraq under his rule. Shi’ites have run the country since his demise.
If Iraqis do not heal their deep rifts, the country which suffered from a sectarian civil war in 2006-2007, could spiral into more violence.
“The machines are not working. Many cards are rejected. This was done on purpose. For obvious reasons, for reasons you know very well,” said Ibrahim Suliman, the school’s principal who was acting as assistant station manager on Saturday.
Sunnis have long complained about rampant discrimination at the hands of the Shi’ite-led government, though some concede there have been improvements under Prime Minister Haider al-Abadi.
Falluja was the first city captured by Islamic State in Iraq, in January 2014, and a bastion of the anti-U.S. insurgency.
Iraqis head to a polling centre during a parliamentary election in Falluja, Iraq May 12, 2018. REUTERS/Ahmed Aboulenein It is the most populous city in Anbar, the overwhelmingly Sunni western province that borders Syria, Jordan and Saudi Arabia.
RITUAL HUMILIATION Rubble litters every street in Falluja. It was once known as the city of mosques, but much of the city was leveled and it is far from recovery.
Shi’ite militias man checkpoints inside and around the city, subjecting its Sunnis to what they allege is ritual humiliation.
“Sunnis are treated as third class citizens in Iraq. I can’t go to Baghdad at night,” said Abdul Salam al-Anzi, referring to what he said was mistreatment faced by Sunnis at checkpoints.
Speaking outside a polling station in Falluja, Anzi said he had voted for a candidate because he came from the same tribe, illustrating the factionalism that often undermines attempts at unity.
He, like many Sunnis, believe it is better if Abadi wins a second term rather than his challengers. Abadi’s predecessor Nuri al-Maliki who was accused of pursuing a sectarian agenda while in office.
The third contender, Hadi al-Amiri heads the Badr Organisation which helped defeat Islamic State. His close ties to Shi’ite Iran has made many Sunnis resentful.
Like all voters Reuters spoke to on Saturday, however, Anzi was not convinced enough to vote for Abadi’s list, the first in Iraq’s history to run in all 18 provinces.
Civil servant Saddam Jabber had a candidate he enthusiastically supported, but was unable to vote for him because of technical issues.
“They took away my right to vote. If there is a problem, they should solve it, manually or otherwise,” said Jabber, 42.
Slideshow (4 Images) He wants Anbar and other provinces to create a Sunni region in Iraq akin to semi-autonomous Kurdistan.
“We have to become a region, to rule ourselves, as part of a federal Iraq,” he said.
SADDAM’S SPECTER On Saturday morning, campaign posters were plastered everywhere in the Falluja, which has been ravaged by coalition air strikes on Islamic State, including on destroyed buildings.
Half an hour before polls closed, most posters were being taken down so their structures could be sold for scrap. People were wandering around asking strangers where they can vote.
Turnout at three voting centers visited by Reuters was below 30 percent by the time polls closed.
Nejm Abdullah, 30, owns a supermarket right outside a polling station he is registered at but would not make the short trip, saying his vote would not reform Iraq’s political elites.
“It’s like going to the tailor and ordering a dishdasha with certain measurements. The tailor does what he wants anyway,” he said.
Like others, he is nostalgic for the past, when Falluja backed Saddam.
“Everything was better under Saddam; security, electricity. God rest his soul,” he said.
Nuria Sabbar agrees. She has been displaced three times in the past 15 years; during the U.S. invasion, the subsequent civil war, and the Islamic State takeover.
“Falluja has not changed for 15 years; how can it change in the middle of all this war and sectarianism? At least under Saddam we had security,” she said.
Even those who voted were skeptical.
“The coming government will be even worse than all the previous ones, mark my words. At this point we should erect a massive statue of Saddam and worship at its feet,” said Hadi Abdullah, 60, a law professor.
Reporting by Ahmed Aboulenein; additional reporting by Kamal Namaa; editing by Michael Georgy and Angus MacSwan
| ashraq/financial-news-articles | https://www.reuters.com/article/us-iraq-election-falluja/as-iraq-moves-on-with-vote-falluja-trapped-by-sins-of-the-past-idUSKCN1ID0UU |
Takeda to takeover bigger rival Shire in $62bln deal 01:46
Takeda Pharmaceutical agrees to buy London-listed Shire for 45.3 billion pounds ($61.50 billion) after the Japanese company raises the amount of cash in its offer to secure a recommendation. Silvia Antonioli reports.
Takeda Pharmaceutical agrees to buy London-listed Shire for 45.3 billion pounds ($61.50 billion) after the Japanese company raises the amount of cash in its offer to secure a recommendation. Silvia Antonioli reports. //reut.rs/2FVsWSO | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/08/takeda-to-takeover-bigger-rival-shire-in?videoId=424956979 |
May 10 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
Recep Tayyip Erdogan to start 3-day UK trip on Sunday on.ft.com/2KbnBtg
Rolls-Royce executive first high-profile casualty of shake-up on.ft.com/2IvBy7Z
RBS agrees in principle settlement of $4.9 bln with US DoJ on.ft.com/2IuGeLs
Overview
Tayyip Erdogan is due to visit London on Sunday for a three-day visit, ahead of a snap presidential election in Turkey on June 24.
Rolls-Royce Holdings Plc Chief Operating Officer Simon Kirby is stepping down just 19 months after taking the post, as part of a shake-up that could also see the British manufacturer quit its London headquarters.
Royal Bank of Scotland Group Plc has reached an agreement with the U.S. Department of Justice on a $4.9 billion settlement that clears the way for the British government to sell more shares in the bank. (Compiled by Bengaluru newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/britain-press-ft/press-digest-financial-times-may-10-idUSL3N1SH05Z |
BERLIN, May 14 (Reuters) - Germany’s Mutares aims to raise 26 million-32 million euros ($31 million-$38 million) from an initial public offering (IPO) of a stake in commercial vehicles supplier STS Group, below the 50 million it euros originally targeted.
Investors have taken a tougher line on price in IPOs recently, with German publisher Springer Nature cancelling a planned flotation this month due to weak demand.
Unveiling details on Monday, Mutares said the STS Group IPO on June 1 would consist of 1 million new shares from a capital increase and up to 1 million shares currently owned by Mutares.
The holding company would still hold a 62 percent stake in STS after the IPO.
The price range for the shares is 26-32 euros, Mutares said, with the final offer price set to be published on May 29.
It had said in late April that it was aiming for proceeds from the cash capital increase of some 50 million euros.
The proceeds will be used to expand STS Group into China and North America, plus increase production in eastern Europe.
Hauck & Aufhauuser is acting as sole global coordinator and joint bookrunner, while Mainfirst is also joint bookrunner.
$1 = 0.8353 euros Reporting by Victoria Bryan
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/mutares-sts-ipo/germanys-mutares-dials-down-expectations-for-sts-group-ipo-idUSL5N1SL6SC |
BERLIN, May 3 (Reuters) - Germany’s Schwarz Gruppe, the owner of discount retailers Lidl and Kaufland, is aiming to reach over 100 billion euros ($119.6 billion) in sales this year and plans to keep on investing.
Lidl and rival discount supermarket chain Aldi have been ploughing ahead with investment in other countries, especially in Britain, where they have been taking market share from the traditional players there.
Schwarz Gruppe said in a brief statement on Thursday that last year sales rose 7.4 percent to 96.9 billion euros, of which 74.6 billion came from Lidl, which has 10,460 stores in Europe and the United States.
The group invested 7 billion euros last year and said it was aiming for a similar amount this year.
$1 = 0.8363 euros Reporting by Victoria Bryan Editing by Alexandra Hudson
Our | ashraq/financial-news-articles | https://www.reuters.com/article/schwarz-gruppe-results-lidl/lidl-owner-targets-over-100-bln-eur-in-sales-in-2018-idUSL8N1SA7N4 |
TIJUANA, MEXICO (Reuters) - Seventy men, women and children poured through a U.S. port of entry early Friday to seek asylum, the largest single group yet accepted by U.S. officials from the caravan of Central American migrants that enraged President Donald Trump.
Members of a caravan of migrants from Central America, enter the United States border and customs facility, where they are expected to apply for asylum, in Tijuana, Mexico May 4, 2018. REUTERS/Edgard Garrido Fleeing Honduras, El Salvador and Guatemala, the migrants were among the last who had planned to ask for asylum, bringing the total to 228 who have crossed the border since last weekend.
The nearly 400 migrants who reached Tijuana last week faced wrenching dilemmas about whether to enter the United States and request asylum, beginning an indefinite and complex process that could end in deportation. Many decided to stay in Mexico for now.
After a month-long, 2,000-mile journey, their arrival at the border was hotly anticipated. U.S. Attorney General Jeff Sessions beefed up legal resources on the border this week to handle people from the caravan.
Trump had urged that the caravan to be detained and repeated his call for stronger border security Monday morning, writing on Twitter, “Our Southern Border is under siege.”
The Trump administration said on Friday it will end temporary protections on Jan. 5, 2020 for up to 57,000 Honduran immigrants who arrived in the United States in the wake of Hurricane Mitch two decades ago. Temporary protection is different than the asylum status being claimed by members of the caravan.
Just after 9 a.m., the migrants lined up to enter the long passageway between the countries. In single file, they walked straight through, mothers carrying teddy bears in one hand and small children in another.
Among them was Irma Rivera, 31, with a son in her arms and a daughter prancing ahead.
They had walked this route yesterday, led to the U.S. gate with a large group of migrants only to be turned back.
As they reached a bend in the walkway on Friday, the view opened onto American soil and a large U.S. flag.
“Where is the wall? I want to climb Trump’s wall,” said the boy, four years old. His mother laughed, tears glistening. There was no wall in sight, only a chance to join a long-lost brother in Texas and begin a new life.
Her husband, a farmer, was killed late last year in El Salvador by a gang of farmers he had denounced for robbing his land, she said.
In Mexico outside the port of entry, the remaining migrants were joined in a makeshift camp by other would-be asylum-seekers who had come seeking information and donations.
Meanwhile, the caravan’s organizers scrambled to collect migrants’ names to track their dispersal across U.S. Immigration and Customs Enforcement (ICE) centers after they exit the port of entry’s detention facility in coming days.
Reporting by Delphine Schrank; editing by Julia Love and Phil Berlowitz
| ashraq/financial-news-articles | https://in.reuters.com/article/usa-immigration-caravan/last-big-group-of-caravan-asylum-seekers-cross-into-u-s-idINKBN1I60BN |
May 18, 2018 / 10:28 AM / Updated 2 hours ago Rugby - Lam strikes again as Hurricanes outlast Reds for 10th straight win Reuters Staff 3 Min Read
WELLINGTON (Reuters) - The Wellington Hurricanes struggled to get their high octane attack going but still had just enough to overcome an obdurate Queensland Reds side 38-34 on Friday and notch up their 10th straight Super Rugby victory.
Winger Ben Lam nabbed his 13th and 14th tries of the campaign to stand one shy of a Super Rugby record and there were also scores from number eight Blade Thomson, lock Sam Lousi and flyhalf Beauden Barrett, who added 13 points with the boot.
The Reds, humbled 63-28 by the Sunwolves last week, brought a physicality to the contest that would have made coach Brad Thorn proud but were unable to prevent Australia’s winless streak against New Zealand opposition from reaching 40 matches.
Tries from winger Filipo Daugunu and hooker Taniela Tupou helped them to a 20-14 lead after 26 minutes with the other winger, Jordan Petaia, and centre Samu Kerevi crossing after the break to keep the visitors in the match for the full 80 minutes.
“There’s a reason why they are the best team in the comp at the moment,” Reds skipper Scott Higginbotham said in post-match interview. “But it was a huge display of character from our boys after last week’s disappointment.”
The win put the Hurricanes back on top of the competition standings by three points pending the Canterbury Crusaders’ match on Saturday with the two most recent champions scheduled to meet in Christchurch next week.
The 2016 champions might have expected an easier ride from a Reds side that has only won four of their 11 matches this season and it looked to be going to plan when Barrett cantered over the line in the seventh minute.
Lam smashed through a couple of defenders with the ball in one hand to grab the first of his brace seven minutes later and the Reds were only able to stay in touch through two Jono Lance penalties.
Tupou, nicknamed the Tongan Thor, bulldozed his way through three defenders for a try in the 21st minute, however, and when Kerevi cut through the midfield and found Daugunu on his outside five minutes later, the Reds were in front.
Thomson pirouetted over the line to give the Hurricanes back the lead before the break and when Lam made amends for dropping the ball with the line at his mercy with his second try after 49 minutes, the home side were 31-20 to the good.
Another tackler-scattering charge from Tupou after 53 minutes sent debutant teenager Petaia in for a third Reds try and even Lousi’s score was not enough to kill off the visitors, with Kerevi’s reply making for a tense last six minutes. Reporting by Nick Mulvenney in Sydney; Editing by John O'Brien | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-rugby-union-super-hurricanes/rugby-lam-strikes-again-as-hurricanes-outlast-reds-for-10th-straight-win-idUKKCN1IJ17A |
May 2, 2018 / 5:45 AM / Updated 14 hours ago Cricket-New Zealand says weighing up playing in Pakistan Reuters Staff 2 Min Read
WELLINGTON, May 2 (Reuters) - New Zealand is weighing up playing cricket in Pakistan for the first time in 15 years after an invitation from the south Asian nation’s cricket board.
New Zealand have not played in Pakistan since 2003 due to security concerns but had been asked to play Twenty20 matches in the country later this year, governing body New Zealand Cricket said.
“NZC has received a request from the PCB chairman for New Zealand to play in Pakistan,” an NZC spokesman said.
“At the moment NZC is doing due diligence on the request and consulting with security providers, the government, and the players.
“We will respond to the PCB when this process has been completed.”
The Black Caps are scheduled to play tests and one-day internationals against Pakistan in November at the United Arab Emirates, the country’s designated ‘home’ base.
No dates have been issued for those matches but the spokesman said they would be played in the UAE.
Pakistan has remained largely starved of international cricket since the 2009 attacks on a bus carrying Sri Lanka’s team in Lahore, which wounded six players and a British coach, and killed eight Pakistanis.
But Sri Lanka returned to the country for a Twenty20 match in Lahore in October and West Indies played a recent T20 series in Karachi.
New Zealand abandoned their last test tour of Pakistan in 2002 after a bomb exploded outside their Karachi hotel but returned to play an ODI series in 2003.
Pakistan media, citing an unnamed source in the national cricket board, reported that Australia had also been approached to play in the country.
Cricket Australia were not able to provide immediate comment. (Reporting by Ian Ransom in Melbourne; Editing by Amlan Chakraborty) | ashraq/financial-news-articles | https://uk.reuters.com/article/cricket-nz-pakistan/cricket-new-zealand-says-weighing-up-playing-in-pakistan-idUKL3N1S91RW |
May 9 (Reuters) - Beauty products maker Coty Inc reported a 9.4 percent rise in quarterly revenue, driven by strong demand for Burberry Beauty, as well as for makeup brand Younique.
Net loss attributable to Coty Inc narrowed to $77 million or 10 cents per share, in the third quarter ended March 31 from a loss of $164.2 million or 22 cents per share, a year earlier.
Net revenue rose to $2.22 billion from $2.03 billion. (Reporting by Karina Dsouza and Jaslein Mahil in Bengaluru; Editing by Shailesh Kuber)
| ashraq/financial-news-articles | https://www.reuters.com/article/coty-results/coty-reports-9-4-percent-rise-in-quarterly-revenue-idUSL3N1SG49B |
SHANGHAI (Reuters) - The co-pilot of a Sichuan Airlines flight that was forced to make an emergency landing on Monday was “sucked halfway” out of the plane after a cockpit windshield blew out, media reported, citing the aircraft’s captain.
Liu Chuanjian, hailed a hero on social media after having to land the Airbus A319 manually, told the Chengdu Economic Daily his aircraft had just reached a cruising altitude of 32,000 feet when a deafening sound tore through the cockpit.
The cockpit experienced a sudden loss of pressure and drop in temperature and when he looked over, the cockpit’s right windshield was gone.
“There was no warning sign. Suddenly, the windshield just cracked and made a loud bang. The next thing I know, my co-pilot had been sucked halfway out of the window,” he was Quote: d as saying.
“Everything in the cockpit was floating in the air. Most of the equipment malfunctioned ... and I couldn’t hear the radio. The plane was shaking so hard I could not read the gauges.”
The co-pilot, who was wearing a seatbelt, was pulled back in. He suffered scratches and a sprained wrist, the Civil Aviation Administration of China said, adding that one other cabin crew member was also injured in the descent. None of the plane’s 119 passengers was injured.
The Civil Aviation Administration of China (CAAC) said France’s BEA accident investigation agency and Airbus would send staff to China to investigate, according to CAAC News which is affiliated to the aviation regulator.
Sichuan Airlines Flight 3U8633 left the central Chinese municipality of Chongqing on Monday bound for the Tibetan capital of Lhasa. It made its emergency landing in the southwest city of Chengdu.
“The crew were serving us breakfast when the aircraft began to shake. We didn’t know what was going on and we panicked. Then the oxygen masks dropped... We experienced a few seconds of free fall before it stabilized again,” an unnamed passenger told the government-run China News Service.
“I’m still nervous. I don’t dare to take an airplane anymore. But I’m also happy I had a narrow escape.”
The windshield shattered about half an hour after the plane had taken off, the Chengdu Economic Daily said. A separate report said the aircraft had accumulated 19,912 flight hours since entering service at Sichuan Airlines in July 2011.
CAAC also said that the windshield was part of the original aircraft and had no previously recorded faults.
Incidents involving cracked windshields do happen on a regular basis due to bird or lightning strikes but ones involving entire windshields coming off are rare.
In 1990, one of the pilots on British Airways Flight 5390 was blown partially out of the cabin window after its windshield blew out at 23,000 feet. He survived the incident, which occurred on a BAC-111 jet.
Workers inspect a Sichuan Airlines aircraft that made an emergency landing after a windshield on the cockpit broke off, at an airport in Chengdu, Sichuan province, China May 14, 2018. REUTERS/Stringer Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom; Editing by Edwina Gibbs and Nick Macfie
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-airplane/sichuan-airlines-pilot-was-sucked-halfway-out-of-window-captain-says-idUSKCN1IG0A1 |
(Fix typo in last paragraph)
* ADNOC presents downstream expansion strategy
* Aims to double refining and triple petrochemicals capacity
* Plans to boost Ruwais refining capacity to 1.5 mln bpd
* Targeting investment abroad to secure greater market access
By Rania El Gamal
ABU DHABI, May 13 (Reuters) - Abu Dhabi National Oil Company (ADNOC) plans to invest $45 billion over the next five years to expand its refining and petrochemicals operations, it said on Sunday.
Striving to become a global player in the downstream sector, the state oil giant wants to double its refining capacity and triple petrochemicals output potential by 2025 as it looks to capture new growth markets, ADNOC’s Chief Executive Sultan al-Jaber told Reuters on Saturday.
On Sunday al-Jaber presented ADNOC’s downstream expansion strategy at an industry conference in Abu Dhabi, alongside CEOs of oil majors such as BP, Total and Eni , which have secured long-term oil production deals in the United Arab Emirates, a key Gulf OPEC member.
The centrepiece of ADNOC’s strategy is the Ruwais industrial complex, which ADNOC wants to turn into the largest integrated refining and petrochemicals complex in the world, al-Jaber said at the conference.
ADNOC plans to expand refining and petrochemical operations at Ruwais by adding a third refinery to boost capacity by 600,000 barrels per day (bpd) by 2025, lifting total refining potential to 1.5 million bpd.
“We are extending an invitation to existing and new partners to join with us in building a world-leading refining and petrochemicals complex and manufacturing ecosystem here in Ruwais,” al-Jaber said.
The company, a major Middle East producer that pumps about 3 million bpd, will also make overseas investments to secure access to growth markets, it said on Sunday.
The traditionally conservative national oil company has been shaking up operations since the 2016 appointment of al-Jaber as CEO after years of being overshadowed by neighbour Saudi Aramco.
Now ADNOC is seeking to become more competitive, with its downstream shift focusing on Asian markets where oil demand is still growing.
It listed 10 percent of its fuel distribution business late last year, set up a new trading unit to handle its crude oil and refined products while also expanding partnerships with strategic investors.
This year it finalised 40-year concession agreements for its offshore oilfields with both Western oil companies and Asian buyers.
“Everything we are doing here is centred around ensuring that we are operating in the most efficient manner,” al-Jaber told Reuters, adding that it intends to extract maximum value from every barrel produced.
The company said in November that it plans to spend more than $109 billion in the next five years to boost gas output and invest in international downstream activities.
On Saturday India’s oil minister, on a visit to the UAE, told Reuters that there was a consensus between Saudi Aramco, ADNOC and Indian companies to form a joint venture for India’s Ratnagiri oil refinery. (Reporting by Rania El Gamal Editing by David Goodman)
| ashraq/financial-news-articles | https://www.reuters.com/article/emirates-adnoc-strategy/update-1-uae-state-oil-giant-adnoc-plans-to-invest-45-bln-in-downstream-expansion-idUSL5N1SK0JO |
May 20, 2018 / 5:41 PM / Updated an hour ago Islamic State claims responsibility for church attack in Chechnya Reuters Staff 1 Min Read
MOSCOW (Reuters) - The Islamic State militant group claimed responsibility for an attack on a church in Russia’s Chechnya republic that killed three people, the group’s Amaq news agency said on Sunday. Law enforcement officers walk outside an Orthodox church after the attack of militants in Grozny, Russia May 19, 2018. REUTERS/Said Tsarnayev
The group offered no evidence in support of the claim.
Four people attacked the Orthodox church on Saturday, killing two policemen and a churchgoer, Russia’s investigative committee said in a statement. The attackers were killed. Slideshow (3 Images)
“Islamic State fighters executed an attack on ‘Michael’ Church yesterday in Chechnya’s capital, Grozny,” Amaq said.
Russia, which hosts the soccer World Cup next month, has fought two wars with separatists in the mainly Muslim internal republic since the 1991 Soviet collapse, but such attacks have become relatively rare in Chechnya.
The wider North Caucasus region remains volatile, however, with unemployment and corruption pushing some to embrace radical Islam. Reporting by Polina Devitt in Moscow and Ahmed Tolba in Cairo; Writing by Polina Devitt; Editing by Dale Hudson | ashraq/financial-news-articles | https://www.reuters.com/article/us-russia-chechnya-church-attack/islamic-state-claims-responsibility-for-church-attack-in-chechnya-idUSKCN1IL0PA |
May 3 (Reuters) - Harvest Capital Credit Corp:
* HARVEST CAPITAL CREDIT CORP - ON APRIL 29, ENTERED NEW ADMINISTRATION AGREEMENT WITH HCAP ADVISORS - SEC FILING
* HARVEST CAPITAL CREDIT CORP - ADMINISTRATION AGREEMENT HAS SUBSTANTIALLY SAME TERMS AS PREVIOUS ADMINISTRATION AGREEMENT WITH JMP CREDIT ADVISORS
* HARVEST CAPITAL CREDIT CORP - INITIAL TERM OF ADMINISTRATION AGREEMENT IS FROM APRIL 29, 2018, TO APRIL 29, 2020 Source : bit.ly/2riZpOB ([email protected])
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-harvest-capital-credit-says-entere/brief-harvest-capital-credit-says-entered-new-administration-agreement-with-hcap-advisors-idUSFWN1SA1D6 |
DENVER, May 1, 2018 /PRNewswire/ -- DaVita Kidney Care , a division of DaVita Inc. (NYSE: DVA), a leading provider in kidney care services in the United States, today welcomed David Roer, M.D., as vice president of medical affairs for VillageHealth, a subsidiary of DaVita specializing in integrated kidney care and renal population health management. Dr. Roer was also made a member of the Office of the Chief Medical Officer, DaVita's physician leadership team.
"DaVita's focus on keeping patients healthy and out of the hospital and improving their health-related quality of life is paramount," said Dr. Roer. "I look forward to contributing to this mission alongside a team of best-in-class physicians and teammates."
Dr. Roer will help lead the implementation of integrated care strategies for both VillageHealth and DaVita Kidney Care, focused on patient-centered, coordinated care for end-stage renal disease (ESRD) and chronic kidney disease patients. His previous experience with ESRD seamless care organizations (ESCOs) and commercial partners will be helpful in supporting DaVita's efforts to continuously improve patient outcomes and increase patient, teammate (employee), and physician engagement while helping to lower the overall cost of care. He will also help lead DaVita's patient safety program.
"As we prepare for the future of integrated care, we need expert physicians like Dr. Roer to help guide our approach," said Allen R. Nissenson, M.D., FACP, chief medical officer for DaVita Kidney Care. "We're pleased to welcome him to our leadership team and will put his experience and strong history of clinical excellence to good use for the betterment of patient care."
Dr. Roer has practiced nephrology for 30 years. He completed his medical training in internal medicine and nephrology and hypertension fellowship at Yale University School of Medicine. Dr. Roer presently chairs the Quality, Safety, and Accountability Committee for the Renal Physicians Association.
To learn more about the DaVita physician leadership team, visit DaVita.com/Providers .
About DaVita Kidney Care
DaVita Kidney Care is a division of DaVita Inc., a Fortune 500® company, that through its operating divisions provides a variety of health care services to patient populations throughout the United States and abroad. A leading provider of dialysis services in the United States, DaVita Kidney Care treats patients with chronic kidney failure and end stage renal disease. DaVita Kidney Care strives to improve patients' quality of life by innovating clinical care, and by offering integrated treatment plans, personalized care teams and convenient health-management services. As of Dec. 31, 2017, DaVita Kidney Care operated or provided administrative services at 2,510 outpatient dialysis centers located in the United States serving approximately 198,000 patients. The company also operated 237 outpatient dialysis centers located in 11 countries outside the United States. DaVita Kidney Care supports numerous programs dedicated to creating positive, sustainable change in communities around the world. The company's leadership development initiatives and social responsibility efforts have been recognized by Fortune, Modern Healthcare, Newsweek and WorldBlu. For more information, please visit DaVita.com .
Media:
Ashley Henson
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View original content with multimedia: http://www.prnewswire.com/news-releases/dr-david-roer-joins-davitas-physician-leadership-team-300639675.html
SOURCE DaVita Kidney Care | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/pr-newswire-dr-david-roer-joins-davitas-physician-leadership-team.html |
May 2(Reuters) - QUALITY AND RELIABILITY SA :
* REPORTED ON MONDAY, FY 2017 TURNOVER AT EUR 2.6 MLN VS EUR 4.6 MLN YR AGO
* FY NET LOSS AT EUR 110,273 VS LOSS EUR 404,643 YR AGO Source text for Eikon: bit.ly/2rfBjTZ
Further company coverage: (Gdynia Newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/idUSL8N1S914S |
NEW YORK, May 1, 2018 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against KLX Inc. (NASDAQ: KLXI) and its board of directors for breach of fiduciary duty concerning the proposed acquisition of the company by Boeing Co. Stockholders will receive $63.00 for each share of KLX stock that they hold. The transaction is valued at approximately $4.25 billion (including debt) and is expected to close by the third quarter of 2018.
If you are a stockholder of KLX and are interested in obtaining additional information regarding this investigation, please visit us at: http://www.rowleylawpllc.com/investigation/klx . You may also contact Shane Rowley, Esq. at Rowley Law PLLC, 50 Main Street Suite 1000, White Plains, NY 10606, by email at [email protected] , or by telephone at 914-400-1920 or 844-400-4643 (toll-free).
Rowley Law PLLC represents shareholders nationwide in class actions and derivative lawsuits in complex corporate litigation. For more information about the firm and its attorneys, please visit http://www.rowleylawpllc.com .
Attorney Advertising. Prior results do not guarantee a similar outcome.
View original content: http://www.prnewswire.com/news-releases/alert-rowley-law-pllc-is-investigating-proposed-acquisition-of-klx-inc-300640264.html
SOURCE Rowley Law PLLC | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/pr-newswire-alert-rowley-law-pllc-is-investigating-proposed-acquisition-of-klx-inc.html |
May 3, 2018 / 1:58 PM / Updated 4 minutes ago Fresenius sees Akorn lawsuit dragging on into 2019 Reuters Staff 2 Min Read
BERLIN (Reuters) - German healthcare group Fresenius SE ( FREG.DE ) said on Thursday its legal battle with Akorn ( AKRX.O ) over its canceled $4.7 billion takeover could drag on into 2019 as it posted a slight decline in quarterly profit hurt by a strong euro. FILE PHOTO: Fresenius headquarters in Bad Homburg near Frankfurt, Germany, February 27, 2018. REUTERS/Ralph Orlowski/File Photo
Fresenius abandoned the merger agreement last month and on Wednesday alleged it uncovered “blatant fraud at the very top level” of the U.S. generic drugmaker.
Akorn spokeswoman Jennifer Bowles said at the time the company categorically disagreed with the allegations and intended to enforce the merger agreement.
Akorn has sued in Delaware Court of Chancery to try to hold Fresenius to the deal. A hearing is expected to take place on July 9, Fresenius told an analyst call.
“I don’t want to speculate ... but you can assume that we will be able to resolve the matter over the course of 2019,” Chief Executive Stephan Sturm said.
Sturm said Fresenius would seek alternative ways to grow its Kabi generics business in North America, but said the expansion would take longer without Akorn.
Shares in Fresenius, which have shed over 16 percent of their value over the past year, were trading down 1 percent at 64.48 euros by 1332 GMT.
Earlier on Thursday, Fresenius reported a 1 percent fall in first-quarter sales to 8.12 billion euros, broadly in line with the analysts’ consensus forecast.
Net income slipped 2 percent to 450 million euros ($539 million), which surpassed the 437 million consensus forecast in a Reuters poll.
The company confirmed its forecast for sales to grow between 5 and 8 percent this year and for adjusted net income to rise between 6 and 9 percent.
($1 = 0.8343 euros) | ashraq/financial-news-articles | https://uk.reuters.com/article/us-fresenius-results/fresenius-sees-akorn-lawsuit-dragging-on-into-2019-idUKKBN1I41Q2 |
GDP outlook Canada announces retaliatory tariffs on steel and aluminum Canada will retaliate against new U.S. tariffs by imposing its own trade barriers on U.S. steel, aluminum and other products. Foreign Minister Chrystia Freeland said Canada plans to slap dollar-for-dollar tariffs on the U.S. Drew Angerer | Getty Images Canadian Prime Minister Justin Trudeau
Canada will retaliate against new U.S. tariffs by imposing its own trade barriers on U.S. steel, aluminum and other products, Canadian Foreign Minister Chrystia Freeland said Thursday.
Freeland said Canada plans to slap dollar-for-dollar tariffs on the U.S. The Nafta partner's proposed import taxes would also cover whiskey, orange juice and other food products alongside the steel and aluminum tariffs.
Canadian Prime Minister Justin Trudeau said that the tariffs, announced Thursday by Commerce Secretary Wilbur Ross , are an affront to the security partnership between the U.S. and Canada.
Trudeau warned that the import taxes — of 25 percent on steel imports and 10 percent on aluminum imports — will harm both countries' economies.
The trump administration is also saddling Mexico and the European Union with the tariffs.
This story is developing. Please check back for updates. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/31/canada-announces-retaliatory-tariffs.html |
New York
Alan Ayckbourn’s 81st full-length play recently opened off Broadway. His 82nd full-length play will open in England in September. Given that he is 79 years old and shows no signs of slowing down, I assume that he has at least another dozen or so in him—and that they’ll all be good. Not only has no other English-speaking playwright turned out more good plays, but a significant percentage of them are first-rate. Time was when Mr. Ayckbourn was casually dismissed on this side of the Atlantic as the English Neil Simon,... To Read the Full Story Subscribe Sign In | ashraq/financial-news-articles | https://www.wsj.com/articles/a-brief-history-of-women-review-dark-comedy-of-manors-1525809041 |
May 14 (Reuters) - Amphastar Pharmaceuticals Inc:
* AMPHASTAR PHARMACEUTICALS RECEIVES FDA APPROVAL FOR CALCIUM CHLORIDE INJECTION
* AMPHASTAR PHARMACEUTICALS - FDA GRANTED APPROVAL OF ANDA FOR CALCIUM CHLORIDE INJECTION 10% IN 10 ML LUER-JET PREFILLED SYRINGE SYSTEM Source text for Eikon: Further company coverage:
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-amphastar-pharmaceuticals-receives/brief-amphastar-pharmaceuticals-receives-fda-approval-for-calcium-chloride-injection-idUSASC0A1VF |
May 5, 2018 / 11:58 PM / Updated an hour ago Horse racing - Justify breaks 'Curse of Apollo' to win Kentucky Derby Reuters Staff 2 Min Read
(Reuters) - Justify won the 144th running of the Kentucky Derby at Churchill Downs in Louisville on Saturday, becoming the first horse since Apollo in 1882 to win the ‘Run for the Roses’ without a start as a two-year-old. May 5, 2018; Louisville, KY, USA; Mike Smith aboard Justify (7) leads the field during the 144th running of the Kentucky Derby at Churchill Downs. Mandatory Credit: Brian Spurlock-USA TODAY Sports
Unfazed by the sloppy track on a rainy Derby day, the 5/2 favourite rocketed out of the gate and was neck and neck with longshot Promises Fulfilled before jockey Mike Smith pushed the Chestnut colt into gear to record the comfortable win and break the “Curse of Apollo”.
“It will take a horse like him to break that curse and just wow, he’s just something else,” said Smith, who also won the race in 2005 on Giacomo. May 5, 2018; Louisville, KY, USA; Mike Smith aboard Justify (7) during the 144th running of the Kentucky Derby at Churchill Downs. Mandatory Credit: Brian Spurlock-USA TODAY Sports
“He’s got unbelievable talent and then he’s got a mind to go with it. For such a young horse he is just so big and talented,” he added of Justify, which has won all four of its starts. Slideshow (2 Images)
Good Magic finished second in the first leg of U.S. thoroughbred racing’s Triple Crown series for three-year-olds, with Audible third.
The victory is the fifth for Justify trainer Bob Baffert, who also trained 2015 Triple Crown winner American Pharoah.
“He was doing it easy,” Baffert said.
“Him and American Pharoah and Arrogate, these horse are cut different ... I rank him up there with my top ones.”The win marks the sixth consecutive year where the favourite has won the race despite this year’s field being seen as the most competitive in recent years.
Mendelssohn, the Aidan O’Brien-trained colt looking to be the first European-based horse to win the Derby, collided into other horses shortly after the break and never recovered, finishing last.
The win came on the rainiest day in the race’s history with nearly three inches falling on the dirt track prior to the race, though the wet weather did little to dampen the enthusiasm of the 157,813 in attendance. Reporting by Rory Carroll; Editing by Peter Rutherford | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-horseracing-kentucky/horse-racing-justify-wins-kentucky-derby-on-soggy-track-idUKKBN1I60XP |
CNBC Interview with Sainsbury’s CFO, Kevin O’Byrne Published 19 Hours Ago CNBC.com
Following is the transcript of a CNBC interview with Kevin O'Byrne, Sainsbury's CFO, CNBC's Steve Sedgwick, Karen Tso, and Geoff Cutmore.
SS: I'm delighted to say the CFO of J Sainsbury's, or Sainsbury's I should say, who has joined us now. Kevin, thank you very much indeed for joining us – very simple starting question: tell us the rationale from your point of view. Everyone else has chipped in on what the rationale is – you tell us what yours is.
KO: Well look, we think this is a great combination creating a very dynamic new player in the retail market. We think it's very good for customers, we think it's good for our colleagues and our teams in our stores, good for our suppliers and good for shareholders. So the rationale is very compelling.
SS: Kevin, when Terry Leahy was the behemoth of UK grocery, around about ten years ago, from 05 to 11, his market share was roughly what yours is going to be now with a combined Sainsbury and Asda as well, but he didn't have Aldi, he didn't have Lidl, Amazon or Ocado to face up to as well. For the regulators, is that the message? This is a very different 31% than what it was ten years ago when Tesco's had it.
KO: Well look, the market has changed beyond recognition hasn't it in the last ten years. Even in the last three years the discounters have doubled their share, we've got new entrants coming into the market that just couldn't exist a few years ago, and even if you go to one extreme you've got people like JustEat and Deliveroo that are serving food to customers which they may have bought in chains like ours a number of years ago. So the context is very different, the regulator's got a very important role to do to look after customers and protect customer's interests, and we've as you can imagine, done a lot of work on this over the last few months and we believe this is very good for consumers and we look forward to engaging with the regulator in that discussion.
KT: Kevin, we've been discussing some of the action on the high-street of late, the Tesco-Booker deal, your own deal to acquire Argos, and many of these moves used to bulk up look like defensive moves. Would you say this deal today with Asda is also defensive?
KO: Well clearly we think it's a very positive move but it is in the context of a very dynamic and changing retail market, and we think that if you don't change and you don't evolve, and you don't move forward, you know, in the current climate, then that that's very risky, so we think it's a very good move, we think as you say it allows us, particularly in a very competitive market, with online and with discounters, to give much greater value to our customers. And that's very important.
KT: Kevin, we've listened very closely to all the messages from the retailers about how they're tackling costs in what has been a very deflationary, price deflationary story, across the UK for many years, but now in this release you're talking about taking prices even lower, by about ten per cent on many of the products customers buy regularly, how can you again lower prices again by just being a bigger business when you've already been a large business, negotiating with the supply chain for many years?
KO: Well there's a number of areas where we can see we can get net synergies of totalling 500 million from this combination. When we put Argos stores inside Sainsbury's stores we can see real value and we can put Argos stores inside Asda stores and do exactly the same. There's all the products and services that we buy that we don't sell in our stores, like our media, etc, which we can buy together and buy better. Then of course you put the two, the buying books together of these two organisations, and what we're looking to do is harmonise the buying book and we think there will be material savings there which we can pass on to customers and deliver to the bottom line.
GC: Kevin you're going to get these questions a lot I guess with the general media but there is a suspicion that's been expressed already over the weekend that there are going to be significant job losses and that there will be an opportunity for you to raise money through property sales as you shift sites. Could you just confirm or deny those suggestions?
KO: This this is going to be a good transaction for our for our colleagues. Look, we're creating a very large, strong business, with a very strong balance sheet that will employ 330000 people in the UK. We have no plans because of this transaction to close stores, subject to discussions with the regulator, and we will run both businesses independently with their independent head offices. So, Asda will have a head office in Leeds, Sainsbury's will continue to have the head office in Holborn and we'll run them with separate management teams and separate chief executives. And then another key factor in this is is very good for pension holders - there's 300,000 pension holders who rely on Asda and Sainsbury's and their position is better after this transaction as well.
GC: The trend in the earnings, as as we've seen over recent years for the business to generate lower and lower returns in terms of capital employed here, you are reporting this morning a 2017, 2018 number at eight point four percent down from eight point eight percent from 2016, 2017. It seems long gone are the halcyon days of double digit returns on capital. Do you think that this deal will help you get back to those kind of numbers?
KO: Well the deal is definitely good for shareholders, but if you look at the results that we've announced this morning we've announced our full year results to March. Profits have increased, and in the second half we saw a material increase in profits, our cash flow is much stronger year on year up 35 percent. We have also seen more customers coming into our stores than this time last year. So it's a it's a good set of results that we've announced for the 12 months, but of course this transaction will allow us to improve that performance.
GC: Yes but your basic earnings per share number at thirteen point three pence is significantly off the seventeen point five pence you managed to deliver in 2016, 17 so that, the clear impression from the numbers is the momentum is coming out of the business.
KO: Well, actually…
GC: Can you, can you stop that?
KO: Well actually if you look in the first half of the year the profits did go backwards, in the second half of the year the profits went forwards 11 percent. So actually, we have very good momentum in the second half of the financial year and very good momentum coming into into the current year.
KT: Kevin, I want to ask you about shareholders because Qatar Investments Authority are your major shareholder with about twenty two per cent of the company – have you spoken to them about this deal with Asda, and do they intend to maintain or will they be diluted?
KO: We've spoken to them, as you can see in the statement this morning, they're supportive of the transaction and as far as their future intention, clearly I don't know. But they're supportive of the transaction.
SS: Are the politicians just out there for the soundbites at the moment Kevin, of course Vince Cable's been on it as well, I've seen various Labour politicians as well, Joe Clarke of course very concerned from Unite as well, but Vince Cable says 'even more concentrated local monopolies could be the case on the back of this as well'. Is he just plain wrong?
KO: Well, the CMA, the regulator, will clearly look at local competition and their role is very important role to look after customer choice as well at a local level and they'll look at it market by market, area by area, and make sure that that isn't the case.
SS: Andrew Simms of the New Weather Institute think-tank says 'this is profoundly not in the public interest, it's going to have negative consequences for consumers and along the grocery supply chain as well'. What kind of guarantees can you give to from the British farmers upwards to the wholesalers that this isn't going to detrimentally affect them Kevin?
KO: This, this will absolutely be good for UK consumers. This will lead to lower prices on the shelf for UK customers everyday, and then if we stand back and look at the supplier place, well people sometimes forget is that we have thousands of suppliers but a hundred suppliers, large multi-nationals make up eighty five percent of the products on our shelves, and we will work closely with those suppliers to ensure that we can bring better value to our UK customers.
SS: Sorry Kevin, I don't understand that when your margins are so under pressure. This is good for farmers and good for consumers?
KO: What what I was saying there is there are a hundred suppliers, the likes of all the big multinationals, make up eighty five per cent of the products on our shelves. So we'll be in discussions with those suppliers to ensure that we can give great value and improved value to UK customers.
KT: Kevin, in the statement you're saying there are no plans in Sainsbury's or Asda store closures as a result of the combination which is somewhat extraordinary given this huge pivot towards online. Where is the online strategy in this deal?
KO: Yes of course we'll be combining our great digital strategy in Argos, our online grocery businesses in both Asda and Sainsbury's will progress, but online grocery is a much smaller, it's about seven percent of the market, so it's a much smaller part of the market than some of the other general merchandise and clothing markets that you'll be familiar with. So there's still the majority of people still buy their weekly groceries in either a convenience store or supermarket, and hence our plans to keep all the stores.
KT: Kevin, you've got a busy day ahead – a lot of people to speak to – thank you so much for joining us First up on Squawk Box.
ENDS
For more information contact Jonathan Millman, EMEA Communications Executive: / 07788 307 996
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CNBC is a division of NBCUniversal. For more information, visit www.cnbc.com . More From CNBC News Releases | ashraq/financial-news-articles | https://www.cnbc.com/2018/04/30/cnbc-interview-with-sainsburys-cfo-kevin-obyrne.html |
ATLANTA, May 17, 2018 (GLOBE NEWSWIRE) -- Manhattan Associates Inc. (NASDAQ:MANH) today announced that Linda Hollembaek has been elected to the company’s Board of Directors.
Ms. Hollembaek is formerly senior vice president, Integration Management Officer of Lexmark International Inc., a global manufacturer and provider of printing and imaging services, where she served nearly two decades optimizing supply chains and bolstering global customer service. She began her career with Eastman Kodak Company, performing roles spanning logistics, finance, sales and operations, and later was an operations leader for Danka Services International.
“Linda’s demonstrated track record for transformational leadership combined with significant expertise in software, supply chain, logistics and service make her a welcome addition to the Board,” said John Huntz, chairman of the Board of Directors of Manhattan Associates. “We’re delighted she is joining at this pivotal inflection point in Manhattan’s evolution as the company expands its solution set to meet the changing needs of today’s digital commerce environment and accelerates its cloud transformation.”
“With expanding market opportunity and unsurpassed technological innovation, Manhattan Associates is poised for long-term growth,” noted Ms. Hollembaek. “I’m energized to be part of an organization that combines disciplined operational execution and exceptional strategic vision with the most talented people in supply chain and omnichannel commerce.”
Receive up-to-date product, customer and partner news directly from Manhattan Associates on Twitter and Facebook .
About Manhattan Associates
Manhattan Associates is a technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.
Manhattan Associates designs, builds and delivers leading edge cloud and on-premises solutions so that across the store, through your network or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com .
Press Contact:
Rick Fernandez
Manhattan Associates
678-597-6988
[email protected]
Source:Manhattan Associates, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/globe-newswire-manhattan-associates-names-global-supply-chain-technology-leader-linda-hollembaek-to-board-of-directors.html |
BEIRUT (Reuters) - Iranian students gathered outside the former U.S. embassy in Tehran on Wednesday to protest President Donald Trump’s decision to withdraw from the Iran nuclear deal, according to Fars News.
The students chanted “Death to America” and “The only demand is to burn the nuclear deal” and burned the American flag, according to Fars News.
The report did not indicate how many students attended the protest.
Reporting By Babak Dehghanpisheh; Editing by Catherine Evans
| ashraq/financial-news-articles | https://www.reuters.com/article/us-iran-nuclear-students/students-protest-outside-former-u-s-embassy-in-tehran-fars-news-idUSKBN1IA27T |
A riverfront estate assembled by the late AOL co-founder James V. Kimsey—which includes a massive home he built and an adjacent Frank Lloyd Wright-designed house—is asking $62.95 million.
The Northern Virginia estate is the most expensive residential property on the market in the Washington, D.C., area, according to Russell A. Firestone III of TTR Sotheby’s International Realty, who has the listing with colleague Mark Lowham. Straddling the border between McLean and Arlington on the Potomac River, the property is down the... | ashraq/financial-news-articles | https://www.wsj.com/articles/aol-co-founders-d-c-area-home-asks-62-95-million-1527171415 |
OSLO (Reuters) - China’s Qumei Home Furnishing Group ( 603818.SS ) on Tuesday made an all-cash bid for Norway’s Ekornes ( EKO.OL ), valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million), the companies said in a joint statement.
The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close.
“After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said.
“We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added.
Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said.
Best known for its “Stressless” furniture brand, Ekornes’ revenues fell by 2 percent to 3.08 billion Norwegian crowns in 2017, while its net profit, hit by a negative currency effects, fell by 38 percent to 200.5 million crowns.
By 0711 GMT, shares of Ekornes traded 16 percent higher for the day at 137 Norwegian crowns, just shy of the 139 crowns offer price.
Reporting by Terje Solsvik. Editing by Jane Merriman
| ashraq/financial-news-articles | https://www.reuters.com/article/us-ekornes-m-a-qm-home/chinas-qumei-in-630-million-bid-for-norway-furniture-maker-ekornes-idUSKCN1IO0VE |
REDWOOD CITY, Calif. (AP) _ Genomic Health Inc. (GHDX) on Wednesday reported a loss of $3.8 million in its first quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of 11 cents. Earnings, adjusted for non-recurring costs, came to 13 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The cancer test maker posted revenue of $92.6 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $88.7 million.
Genomic Health shares have fallen 7.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.63, a decrease of roughly 4 percent in the last 12 months.
This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on GHDX at https://www.zacks.com/ap/GHDX | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/02/the-associated-press-genomic-health-1q-earnings-snapshot.html |
May 2, 2018 / 3:47 PM / Updated 11 minutes ago U.S. returns thousands of smuggled ancient artifacts to Iraq Gina Cherelus 3 Min Read
(Reuters) - About 3,800 artifacts, including Sumerian cuneiform tablets dating to 2100 B.C., that were illegally smuggled to retailer Hobby Lobby Stores Inc were returned to Iraqi officials in Washington on Wednesday.
U.S. Immigration and Custom Enforcement officials signed over the artifacts to Iraqi Ambassador Fareed Yasseen at his Washington residence, with some of the artifacts laid out on a table.
“We will continue to work together to prevent the looting of antiquities and ensure that those who would attempt to profit from this crime are held accountable,” said ICE Acting Director Thomas Homan.
Hobby Lobby, the Oklahoma City-based arts-and-crafts retailer, agreed in July to surrender the antiquities it received and pay $3 million to settle civil proceedings brought by the U.S. Justice Department. Shipping labels on the packages the artifacts arrived in described them as “tile samples,” federal prosecutors said.
The company had purchased more than 5,500 artifacts, according to court documents. It agreed that if it receives any of the remaining antiquities or learns where they are, it must notify the federal government, according to court documents.
Hobby Lobby’s president, Steve Green, is the founder of the Museum of the Bible, which opened in Washington in 2016. Privately held Hobby Lobby has said the seized artifacts were not intended for the museum. It has not said what it planned to do with them.
The forfeited packages included tablets with cuneiform script, one of the earliest systems of writing in ancient Mesopotamia. Many of the tablets come from the ancient city of Irisagrig and date to 2100 B.C. through 1600 B.C. primarily, known as the Ur III and Old Babylonian periods.
Justice Department officials have said Hobby Lobby’s 2010 purchase of $1.6 million in ancient artifacts through dealers in the United Arab Emirates and Israel was “fraught with red flags,” saying the company had ignored warnings that the items could have been looted from archaeological sites in Iraq.
When the company disclosed its settlement with the Justice Department in July, Green said Hobby Lobby should have “carefully questioned how the acquisitions were handled.”
A representative of the company did not respond to a request for comment on Wednesday.
Hobby Lobby and the Green family drew headlines in 2014 when the Supreme Court ruled the craft store chain and Conestoga Wood Specialties of Pennsylvania could refuse to cover contraceptives in their employees’ health insurance due to its owners’ religious beliefs. Reporting by Gina Cherelus in New York; editing by Scott Malone, Bill Trott and Jonathan Oatis | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-iraq-artifacts/u-s-to-return-thousands-of-smuggled-ancient-artefacts-to-iraq-idUKKBN1I327C |
(Reuters Health) - When a loved one starts suffering from dementia, taking away the car keys isn’t the only tough conversation many families need to face - they also need to talk about removing any guns from the home, some doctors argue.
One in three people aged 65 and older in the U.S. owns a gun, and another one in eight lives with someone who owns one. Up to 12 million Americans with dementia could be living in a household with a gun by 2050, researchers estimate.
Even though suicide and accidental shootings are a big concern when someone with dementia has a gun in the home, no valid screening tools currently exist to help determine when it’s time to take away these firearms, the authors of an opinion piece published on Monday in the Annals of Internal Medicine point out.
“Within the medical community, most of the focus has been on how to work with youth or adults to prevent firearm injuries or deaths including accidental shootings by young children, homicides among teens and young adults, and suicide and domestic violence across the lifespan,” said lead author Dr. Marian Betz of the University of Colorado School of Medicine in Aurora.
“There has been less attention towards how to help older adults and family members make decisions about reducing firearm access,” Betz said in an email.
U.S. federal gun laws don’t prohibit the purchase or possession of guns by persons with dementia, the study team notes. Only Texas and Hawaii mention dementia or similar conditions in their state statutes.
A diagnosis of dementia or cognitive impairment does not necessarily mean it’s time to take away the keys to the car or the gun safe. But it’s not a bad time for doctors and families to discuss these safety issues with patients if these conversations haven’t already occurred, Betz and colleagues write.
The best time would be before dementia advances, when older adults can still make their own decisions about when and how they might be willing to give up access to guns.
Families might consider a so-called “firearms retirement date,” when they will give up any guns in the home to avoid the potential for these weapons to be in the house when they’re no longer able to store them or use them safely, the paper’s authors suggest.
Or, in much the same way that people may set up an advance directive giving a loved one the ability to make medical decisions on their behalf, older adults might designate someone they trust to have the authority to take away their guns when the time for this comes.
That’s because as dementia advances, families and caregivers might be at risk if guns remain in the home. People with dementia might have delusions about intruders, for example, and confront visitors with a gun. Or, they might fail to store guns safely, making them accessible to any young children in the home.
“In later stages of dementia, behavioral issues like paranoia or aggression should raise concern, as should threats about suicide or threats towards others,” Betz said. “Families and friends can then lock up or disable guns or move them out of the home, depending on what works for the family and according to state firearm transfer laws.”
When guns do remain in the home, they should be locked so that the person with dementia doesn’t have unsupervised access to firearms, and they should be stored unloaded and separate from ammunition, the doctors also recommend.
Where guns and dementia are concerned, the conversation may need to be ongoing as long as people with cognitive problems have any access to firearms.
“As individuals age, it is important and healthy to stay active, and that activity might involve hobbies such as hunting and shooting,” said David Schwebel, a researcher at the University of Alabama at Birmingham who wasn’t involved in the study.
“However, if cognitive impairment or dementia creates risk, then use and storage of firearms must be done with utmost care,” Schwebel said by email. “Forgetting to store a firearm safely could result in tragedy.”
SOURCE: bit.ly/2lUmw19 Annals of Internal Medicine, online May 7, 2018.
Our | ashraq/financial-news-articles | https://www.reuters.com/article/us-health-dementia-firearms/how-to-have-the-talk-with-aging-parents-about-their-guns-idUSKBN1I82FN |
BALTIMORE, May 1, 2018 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) today announced financial results for the first quarter ended March 31, 2018. The company reports its financial performance in accordance with accounting principles generally accepted in the United States of America ("GAAP"). This press release refers to "currency neutral" and "adjusted" amounts, which are non-GAAP financial measures described below under the "Non-GAAP Financial Information" paragraph. References to adjusted financial measures exclude the impact of the company's restructuring plans. Reconciliations of non-GAAP amounts to the most directly comparable financial measure calculated in accordance with GAAP are presented in supplemental financial information furnished with this release. All per share amounts are reported on a diluted basis.
"Our first quarter results demonstrate measured progress against our focus on operational excellence and becoming a better company," said Under Armour Chairman and CEO Kevin Plank. "As we continue to build our global brand by delivering innovative performance products to our athletes, amplifying our story, further strengthening our go-to-market process, and leveraging our systems to create even deeper consumer connections - we remain confident in our ability to deliver on our full year targets."
The summary below provides both GAAP and adjusted non-GAAP financial measures. On February 13, the company announced a 2018 restructuring plan, which detailed expectations to incur total estimated pre-tax restructuring and related charges of approximately $110 million to $130 million. In the first quarter, we recognized pre-tax costs totaling $45 million consisting of $32 million in cash related charges and $13 million in non-cash charges. Adjusted financial measures exclude the impact of the restructuring and other related charges and the related tax effects.
First Quarter Review
Revenue was up 6 percent to $1.2 billion (up 4 percent currency neutral). Revenue to wholesale customers increased 1 percent to $779 million and direct-to-consumer revenue was up 17 percent to $352 million. The direct-to-consumer business represented 30 percent of global revenue in the quarter. North America revenue was relatively flat (down 1 percent currency neutral) and the international business continued to deliver strong growth with a 27 percent increase (up 19 percent currency neutral), representing 24 percent of total revenue. Within the international business, revenue in EMEA was up 23 percent (up 13 percent currency neutral), up 35 percent in Asia-Pacific (up 28 percent currency neutral) and up 21 percent in Latin America (up 14 percent currency neutral). Apparel revenue increased 7 percent to $766 million, driven by strength in men's training. Footwear revenue was up 1 percent to $272 million with strength in running tempered by team sports and global football. Accessories revenue increased 3 percent to $92 million led by men's training. Gross margin declined 120 basis points to 44.2 percent as benefits from changes in foreign currency rates were more than offset by accelerated inventory management initiatives. Adjusted gross margin, which excludes an $8 million impact related to restructuring efforts, was 44.8 percent, a decrease of 60 basis points compared to the prior year. Selling, General & Administrative expenses increased 3 percent to $515 million, or 43.4 percent of revenue driven by continued investments in the direct-to-consumer, footwear and international businesses. Restructuring and impairment charges were $37 million. Operating loss was $29 million. Adjusted operating income was $16 million. Net loss was $30 million. Excluding the impact of the restructuring plan, adjusted net income was $1 million. Diluted earnings per share was negative $0.07. Adjusted diluted earnings per share was $0.00. Inventory increased 27 percent to $1.1 billion. Cash and cash equivalents increased 65 percent to $284 million.
Updated Fiscal 2018 Outlook
There are no changes to the company's full year 2018 outlook provided on February 13, 2018:
Net revenue is expected to be up at a low single-digit percentage rate reflecting a mid-single-digit decline in North America and international growth of greater than 25 percent. Gross margin is expected to increase approximately 50 basis points to 45.5 percent due to benefits from lower planned promotional activity, product costs, channel mix and changes in foreign currency. Operating income is expected to reach $20 million to $30 million. Excluding the impact of continued restructuring efforts, adjusted operating income is expected to be $130 million to $160 million. Interest and other expense net is planned at approximately $45 million. Excluding the impact of the restructuring efforts, adjusted diluted earnings per share is expected to be in the range of $0.14 to $0.19; and, Capital expenditures are planned at approximately $225 million compared with $275 million in 2017.
Conference Call and Webcast
Under Armour will hold its first quarter 2018 conference call and webcast today at approximately 8:30 a.m. Eastern Time. The call will be webcast live at http://investor.underarmour.com and will be archived and available for replay approximately three hours after the live event.
Non-GAAP Financial Information
This press release refers to "currency neutral" and "adjusted" results as well as "adjusted" forward looking estimates of the company's fiscal 2018 outlook. Currency neutral financial information is calculated to exclude the impact of changes in foreign currency. Management believes this information is useful to investors to facilitate a comparison of the company's results of operations period-over-period. Adjusted gross margin, adjusted operating income, adjusted net income and adjusted diluted earnings per share exclude the impact of restructuring and other related charges. Management believes this information is useful to investors because it provides enhanced visibility into the company's actual and expected underlying results excluding the impact of its restructuring plans. These non-GAAP financial measures should not be considered in isolation and should be viewed in addition to, and not as an alternative for, the company's reported results prepared in accordance with GAAP. Additionally, the company's non-GAAP financial information may not be comparable to similarly titled measures reported by other companies.
About Under Armour, Inc.
Under Armour, Inc., headquartered in Baltimore, Maryland is a leading inventor, marketer and distributor of branded performance athletic apparel, footwear and accessories. Designed to make all athletes better, the brand's innovative products are sold worldwide to consumers with active lifestyles. The company's Connected Fitness™ platform powers the world's largest digitally connected health and fitness community. For further information, please visit www.uabiz.com .
Forward Looking Statements
Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, our anticipated charges and restructuring costs and the timing of these measures, the development and introduction of new products, the implementation of our marketing and branding strategies, and the future benefits and opportunities from significant investments. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "assumes," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. A number of important factors could cause actual those indicated by the forward-looking statements, including, but not limited to: changes in general economic or market conditions that could affect overall consumer spending or our industry; changes to the financial health of our customers; our ability to successfully execute our long-term strategies; our ability to successfully execute any restructuring plans and realize expected benefits; our ability to effectively drive operational efficiency in our business; our ability to manage the increasingly complex operations of our global business; our ability to comply with existing trade and other regulations, and the potential impact of new trade and tax regulations on our profitability; our ability to effectively develop and launch new, innovative and updated products; our ability to accurately forecast consumer demand for our products and manage our inventory in response to changing demands; any disruptions, delays or deficiencies in the design, implementation or application of our new global operating and financial reporting information technology system; increased competition causing us to lose market share or reduce the prices of our products or to increase significantly our marketing efforts; fluctuations in the costs of our products; loss of key suppliers or manufacturers or failure of our suppliers or manufacturers to produce or deliver our products in a timely or cost-effective manner, including due to port disruptions; our ability to further expand our business globally and to drive brand awareness and consumer acceptance of our products in other countries; our ability to accurately anticipate and respond to seasonal or quarterly fluctuations in our operating results; our ability to successfully manage or realize expected results from acquisitions and other significant investments or capital expenditures; risks related to foreign currency exchange rate fluctuations; our ability to effectively market and maintain a positive brand image; the availability, integration and effective operation of information systems and other technology, as well as any potential interruption of such systems or technology; risks related to data security or privacy breaches, including the 2018 data security issue related to our Connected Fitness business; our ability to raise additional capital required to grow our business on terms acceptable to us; our potential exposure to litigation and other proceedings; and our ability to attract key talent and retain the services of our senior management and key employees. The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
Under Armour, Inc.
For the Quarter Ended and Three Months Ended March 31, 2018 and 2017
(Unaudited; in thousands, except per share amounts)
CONSOLIDATED STATEMENTS OF OPERATIONS
Quarter Ended March 31,
2018
% of Net
Revenues
2017
% of Net
Revenues
Net revenues
$
1,185,370
100.0
%
$
1,119,844
100.0
%
Cost of goods sold
661,917
55.8
%
611,908
54.6
%
Gross Profit
523,453
44.2
%
507,936
45.4
%
Selling, general and administrative expenses
514,634
43.4
%
500,400
44.7
%
Restructuring and impairment charges
37,480
3.2
%
—
—
%
Income (loss) from operations
(28,661)
(2.4)
%
7,536
0.7
%
Interest expense, net
(8,564)
(0.7)
%
(7,820)
(0.7)
%
Other income, net
2,888
0.2
%
2,570
0.2
%
Income (loss) before income taxes
(34,337)
(2.9)
%
2,286
0.2
%
Income tax expense (benefit)
(4,093)
(0.3)
%
4,558
0.4
%
Net loss
(30,244)
(2.6)
%
(2,272)
(0.2)
%
Basic net loss per share of Class A, B and C common stock
$
(0.07)
$
(0.01)
Diluted net loss per share of Class A, B and C common stock
$
(0.07)
$
(0.01)
Weighted average common shares outstanding Class A, B and C common stock
Basic
443,052
439,360
Diluted
443,052
439,360
Under Armour, Inc.
For the Quarter Ended and Three Months Ended March 31, 2018 and 2017
(Unaudited; in thousands)
NET REVENUES BY PRODUCT CATEGORY
Quarter Ended March 31,
2018
2017
% Change
Apparel
$
766,275
$
715,437
7.1
%
Footwear
271,770
269,659
0.8
%
Accessories
92,158
89,097
3.4
%
Total net sales
1,130,203
1,074,193
5.2
%
Licensing revenues
26,341
24,205
8.8
%
Connected Fitness
28,826
21,446
34.4
%
Total net revenues
$
1,185,370
$
1,119,844
5.9
%
NET REVENUES BY SEGMENT
Quarter Ended March 31,
2018
2017
% Change
North America
$
867,545
$
871,271
(0.4)%
EMEA
126,932
102,855
23.4
%
Asia-Pacific
115,553
85,818
34.6
%
Latin America
46,514
38,454
21.0
%
Connected Fitness
28,826
21,446
34.4
%
Total net revenues
$
1,185,370
$
1,119,844
5.9
%
INCOME (LOSS) FROM OPERATIONS
Quarter Ended March 31,
2018
2017
% Change
North America
$
(43,495)
$
3,714
(1,271.1)
%
EMEA
(3,627)
1,629
(322.7)
%
Asia-Pacific
21,241
19,628
8.2
%
Latin America
(5,870)
(7,859)
25.3
%
Connected Fitness
3,090
(9,576)
132.3
%
Income (loss) from operations
$
(28,661)
$
7,536
(480.3)
%
Under Armour, Inc.
As of March 31, 2018, December 31, 2017 and March 31, 2017
(Unaudited; in thousands)
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31,
2018
December 31, 2017
March 31,
2017
Assets
Current assets
Cash and cash equivalents
$
283,644
$
312,483
$
172,128
Accounts receivable, net
805,413
609,670
629,235
Inventories
1,148,493
1,158,548
901,613
Prepaid expenses and other current assets
354,455
256,978
203,052
Total current assets
2,592,005
2,337,679
1,906,028
Property and equipment, net
870,120
885,774
830,539
Goodwill
565,201
555,674
571,381
Intangible assets, net
45,931
46,995
61,986
Deferred income taxes
92,607
82,801
121,108
Other long term assets
98,455
97,444
86,118
Total assets
$
4,264,319
$
4,006,367
$
3,577,160
Liabilities and Stockholders' Equity
Revolving credit facility, current
$
135,000
$
125,000
$
50,000
Accounts payable
470,378
561,108
294,857
Accrued expenses
276,888
296,841
217,310
Customer refund liability
353,020
—
—
Current maturities of long term debt
27,000
27,000
27,000
Other current liabilities
54,771
50,426
38,372
Total current liabilities
1,317,057
1,060,375
627,539
Long term debt, net of current maturities
758,705
765,046
784,052
Other long term liabilities
170,825
162,304
145,536
Total liabilities
2,246,587
1,987,725
1,557,127
Total stockholders' equity
2,017,732
2,018,642
2,020,033
Total liabilities and stockholders' equity
$
4,264,319
$
4,006,367
$
3,577,160
For the Quarter Ended and Three Months Ended March 31, 2018 and 2017
(Unaudited; in thousands)
CONSOLIDATED STATEMENT OF CASH FLOWS
Three Months Ended March 31,
2018
2017
Cash flows from operating activities
Net loss
$
(30,244)
$
(2,272)
Adjustments to reconcile net loss to net cash provided by (used) in operating activities
Depreciation and amortization
46,098
41,013
Unrealized foreign currency exchange rate gains
(5,030)
(8,313)
Loss on disposal of property and equipment
159
556
Impairment charges
2,248
—
Amortization of bond premium
63
63
Stock-based compensation
8,137
12,082
Excess tax deficiency from stock-based compensation arrangements
—
(1,258)
Deferred income taxes
(10,645)
15,905
Changes in reserves and allowances
(251,194)
(21,187)
Changes in operating assets and liabilities:
Accounts receivable
53,703
21,261
Inventories
16,697
19,084
Prepaid expenses and other assets
(83,917)
(6,588)
Other non-current assets
(731)
—
Accounts payable
(66,894)
(90,982)
Accrued expenses and other liabilities
(3,933)
7,253
Customer refund liability
350,312
—
Income taxes payable and receivable
(2,805)
(19,169)
Net cash provided by (used in) operating activities
22,024
(32,552)
Cash flows from investing activities
Purchases of property and equipment
(55,930)
(91,790)
Net cash used in investing activities
(55,930)
(91,790)
Cash flows from financing activities
Proceeds from long term debt and revolving credit facility
165,000
200,000
Payments on long term debt and revolving credit facility
(161,750)
(156,750)
Employee taxes paid for shares withheld for income taxes
(1,759)
(2,474)
Proceeds from exercise of stock options and other stock issuances
2,319
2,782
Payments of debt financing costs
(11)
—
Net cash provided by financing activities
3,799
43,558
Effect of exchange rate changes on cash, cash equivalents and restricted cash
2,157
3,452
Net decrease in cash, cash equivalents and restricted cash
(27,950)
(77,332)
Cash, cash equivalents and restricted cash
Beginning of period
318,135
252,725
End of period
$
290,185
$
175,393
Under Armour, Inc.
For the Quarter Ended March 31, 2018
(Unaudited)
The table below presents the reconciliation of net revenue growth calculated in accordance with GAAP to currency neutral net revenue which is a non-GAAP measure. See "Non-GAAP Financial Information" above for further information regarding the Company's use of non-GAAP financial measures.
CURRENCY NEUTRAL NET REVENUE GROWTH/(DECLINE) RECONCILIATION
Quarter Ended
March 31, 2018
Total Net Revenue
Net revenue growth - GAAP
5.9
%
Foreign exchange impact
(2.1)
%
Currency neutral net revenue growth - Non-GAAP
3.8
%
North America
Net revenue decline - GAAP
(0.4)
%
Foreign exchange impact
(0.4)
%
Currency neutral net revenue decline - Non-GAAP
(0.8)
%
EMEA
Net revenue growth - GAAP
23.4
%
Foreign exchange impact
(10.3)
%
Currency neutral net revenue growth - Non-GAAP
13.1
%
Asia-Pacific
Net revenue growth - GAAP
34.6
%
Foreign exchange impact
(7.0)
%
Currency neutral net revenue growth - Non-GAAP
27.6
%
Latin America
Net revenue growth - GAAP
21.0
%
Foreign exchange impact
(6.6)
%
Currency neutral net revenue growth - Non-GAAP
14.4
%
Total International
Net revenue growth - GAAP
27.2
%
Foreign exchange impact
(8.4)
%
Currency neutral net revenue growth - Non-GAAP
18.8
%
Under Armour, Inc.
For the Quarter Ended March 31, 2018
(Unaudited)
The table below presents the reconciliation of the Company's consolidated statement of operations presented in accordance with GAAP to certain adjusted non-GAAP financial measures discussed in this press release. See "Non-GAAP Financial Information" above for further information regarding the Company's use of non-GAAP financial measures.
Quarter Ended March 31, 2018
GAAP
Impact of Restructuring Plan
Adjusted
(Non-GAAP)
Net revenues
$
1,185,370
$
—
$
1,185,370
Cost of goods sold
661,917
(7,474)
654,443
Gross Profit
523,453
7,474
530,927
Gross Margin
44.2
%
0.6
%
44.8
%
Selling, general and administrative expenses
514,634
—
514,634
Restructuring and impairment charges
37,480
(37,480)
—
Income (loss) from operations
(28,661)
44,954
16,293
Interest expense, net
(8,564)
—
(8,564)
Other income, net
2,888
—
2,888
Income (loss) before income taxes
(34,337)
44,954
10,617
Income tax expense (benefit)
(4,093)
13,942
9,849
Effective Income Tax Rate
11.9
%
80.9
%
92.8
%
Net income (loss)
$
(30,244)
$
31,012
$
768
Diluted net income (loss) per share of Class A, B and C common stock
$
(0.07)
$
0.07
$
—
Under Armour, Inc.
Outlook For the Year Ending December 31, 2018
The tables below present the reconciliation of the Company's fiscal 2018 outlook for income from operations calculated in accordance with GAAP to adjusted operating income. This adjusted amount is a non-GAAP financial measures. See "Non-GAAP Financial Information" above for further information regarding the Company's use of non-GAAP financial measures.
ADJUSTED OPERATING INCOME RECONCILIATION
Year Ending December 31, 2018
(in millions)
Low End
High End
Income from operations
$
20
$
30
Add: Estimated impact of restructuring(1)
110
110
Adjusted operating income
$
130
$
140
(1) The estimated impact of restructuring plan presented above assumes the low end of the Company's estimated range of 2018 restructuring and related charges.
The company is not able to provide a reconciliation of the non-GAAP adjusted effective tax rate or adjusted diluted earnings per share to the GAAP effective tax rate or diluted earnings per share for its 2018 outlook. As a result of the 2018 restructuring plan, the company's GAAP net income for fiscal year 2018 is expected to be insignificant, and therefore the GAAP effective tax rate is subject to significant variability. Given this variability, the company cannot provide a meaningful outlook of the GAAP effective tax rate or diluted earnings per share without unreasonable effort. These non-GAAP measures exclude the impact of the 2018 restructuring plan.
BRAND HOUSE AND FACTORY HOUSE DOOR COUNT
As of March 31, 2018
2018
2017
Factory House
160
150
Brand House
18
18
North America total doors
178
168
Factory House
57
38
Brand House
62
39
International total doors
119
77
Factory House
217
188
Brand House
80
57
Total doors
297
245
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SOURCE Under Armour, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/pr-newswire-under-armour-reports-first-quarter-results.html |
RIO DE JANEIRO (Reuters) - Brazil’s federal highway police said on Thursday that there is no more “abnormality” in the flow of traffic on the nation’s highways, indicating that an 11-day truckers’ protest has essentially concluded.
Brazil’s truckers began a nationwide protest 11 days ago demanding lower fuel prices, blocking highways across the country and wreaking havoc with the economy.
Reporting by Pedro Fonseca; Writing by Gram Slattery
| ashraq/financial-news-articles | https://www.reuters.com/article/us-brazil-transportation-police/brazil-police-say-highway-traffic-has-returned-to-normal-idUSKCN1IW28J |
VAL-D'OR, Quebec, May 31, 2018 (GLOBE NEWSWIRE) -- Metanor Resources Inc. ("Metanor" or the “Company”) (TSX-V:MTO) reports its financial results for the quarter ended March 31, 2018. This press release should be read in conjunction with Metanor’s financial statements for the quarter ended March 31, 2018 and the related Management’s Discussion and Analysis (MD&A), which can be found on the Company’s website www.metanor.ca and on SEDAR www.sedar.com . All amounts are in Canadian dollars unless stated otherwise.
KEY DEVELOPMENTS FOR THE QUARTER
Metanor is following through with the corporate refocusing aimed at simultaneously increasing production and exploration programs while leveraging and enhancing our existing infrastructures as Metanor has the only permitted and operating facility in the extremely prospective Urban Barry camp. The Company continues to develop new mining areas to increase mining tonnages in the short term.
In conjunction with Metanor’s robust exploration programs (29,940 metres drilled during the quarter), we are moving along with the public consultations, as part of the permitting process, to increase the daily capacity of the mill from 800 tonnes per day to 2,400 tonnes per day. This increased capacity at Bachelor would allow feed from the Barry project, the Bachelor mine and Moroy sector. Management expects that the Moroy Sector could generate enough ore in the short term to increase the tonnes milled per day to 800 tonnes from the current milling rate of approximately 500 tonnes per day which would have a significant positive impact.
The Company began the construction of a new camp at the Barry project in the quarter, which was completed in May, to accommodate the additional workers required to proceed with the 50,000 underground bulk sample scheduled to be completed by the Q4 in 2018.
EXPLORATION HIGHLIGHTS FOR THE QUARTER
• The Moroy Zone adds new dimension to the Bachelor Mine as development from the new drill bay at level 11, towards the Moroy Zone (1 km south of the Bachelor Mine), continued. A second diamond drill was commissioned to define the Moroy structures from underground and 7,409 metres were drilled in the quarter:
The Moroy Vein System was extended by over 100 metres to depth from underground exploration drilling, which included significant intercepts such as 7 g/t Au over 3.9 metres and 7.4 g/t Au over 2.7 metres; and the ongoing underground development at level 11 of the Bachelor mine reached the two known Moroy Veins, while returning significant intercepts such as 50.9 g/t Au over 4.8 metres, and 5.6 g/t Au over 4.4 metres, and extending the continuity of the structures in all directions.
• With two drills in use, 9,626 metres were drilled at the Barry Project, located in the Urban-Barry Camp 110 km south of the Bachelor mill, during the quarter. These drill results have established:
The presence of a series of high grade gold sub-vertical shears below the three small pits, 1,500 metres along strike length, and a depth exceeding 440 metres, that remains open in all directions; The presence of a series of gold bearing tension veins associated with the shears; In January, new high-grade intercepts of 14.3g/t Au over 4.6 metres and 10.4 g/t Au over 4.5 metres are made; In February, step out drilling extended the Main Zone at depth with intercepts 21.2 g/t Au over 1.7 metres, 31.5 g/t Au over 1.1 meters and 24.7 g/t Au over 1.5 metres; In March, new high-grade shear zone intercepts of 18.9 g/t Au over 1.6 metres in at the new Bart zone, located 3.5 km west of the Barry Project Deposit (These new exploration drill results are SW of the Windfall trend and are found in gold bearing shears/veins, hosted within a Diorite/Gabbro intrusion). Metanor completed 12 holes for a total of 2985 metres, designed to test historical gold grades in the area from previous operators, such as 23.8 g/t Au over 4.4 metres and 11.8 g/t Au over 6.5 metres in the Bart Zone; and the exploration team has been able to identify and confirm gold bearing shears/veins within the mafic intrusive host.
OTHER EVENTS
• In April, the Barry Project Deposit is expanded eastward and at depth with high grade intercepts including 15.8 g/t Au over 1.5 metres and 12.3 g/t Au over 1.3 metres, demonstrating the continuity and predictability of the Barry shear hosted gold deposit.
• In May, intersects of 19.1 g/t Au over 3.6 metres at the Bachelor Mine down-plunge of Main Vein pursuant to the underground drill campaign, which includes new high-grade results of 19.1 g/t Au over 3.6 metres, 12.0 g/t Au over 4.0 metres and 6.4 g/t Au over 21.8 metres. These new results have extended the deposit 183 metres or 600 feet below the lowest working level at Bachelor Mine and demonstrate the southeasterly plunging continuity to the deposit.
FINANCIAL HIGHLIGHTS FOR THE QUARTER
Gold production of 6,654 ounces of gold leading to gold sales of 6,764 ounces from Bachelor Mine;
$9,533,399 in gold sales, after sales of ounces in the stream agreement, at an average realized price of $1,683 per ounce sold (US$1,331/oz using an exchange rate of US$0.791/C$1.00);
Gross Loss of $458,878.
Pascal Hamelin, President and Chief Operating Officer states : “ Our results are in line with our rebuilding strategy. The robust increase in exploration has added a completely new dimension to the Bachelor Mine with the Moroy Zones extending continuously from surface to depth below 600 metres and the encouraging results at Barry lead us to believe that our strategy will pay off as we move towards significantly increase our production profile. ”
OPERATION SUMMARY
Three months
Ended Three months
Ended 31-Mar-18 31-Mar-17 Operational Summary Development/Drilling - metres Underground development Bachelor 1,362 1,230 Underground development Barry 14 0 Total Underground development 1,376 1,230 Diamond drilling Bachelor 7,625 7,975 Diamond drilling Barry 9,626 7,239 Diamond drilling Moroy 7,409 0 Diamond drilling Other 5,280 0 Total Diamond drilling 29,940 15,214 Tonnes milled 43,567 61,101 Feed grade (g/t) 4.9 5.0 Mill recovery rate (%) 96.4 96.4 Ounces produced 6,654 9,442 Ounces sold 6,764 10,881 Financial results Net sales $ (net streaming) 9,553,399 16,304,364 average realized price $ 1,683 1,498 average realized price US $ 1,331 1,133 Exchange rate US to CDN $ 0.791 0.76 Operating Costs $ 8,220,620 10,474,661 Qualified Persons
Pascal Hamelin, P. Eng., President, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.
Cautionary and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, among others, the development of the Company’s properties, expected production from, and the further potential of, the Company’s properties, the anticipated timing and commencement of exploration programs on various targets within the Company’s land holdings, the ability of the Company to successfully achieve business objectives, the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, fluctuating gold prices, currency exchange, possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's corporate mineral resources, changes in project development, construction, production, the possibility of project cost overruns or unanticipated costs and expenses, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, risks relating to infrastructure, permitting and licenses, government regulation of the mining industry, risks relating to foreign operations, uncertainty in the estimation and realization of mineral resources and mineral reserves, quality and marketability of mineral product, environmental regulation and reclamation obligations, risks relating to litigation, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks in its MD&A and financial statements, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law. Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Pascal Hamelin, President & COO
Telephone: 819-825-8678
email: [email protected]
2872, Sullivan Rd, suite 2, Val-d'Or, QC J9P 0B9
Source: Metanor Resources Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/globe-newswire-metanor-reports-its-financial-results-for-the-quarter-ended-march-31-2018.html |
(Corrects period for EPS outlook to “Q2” from “2018” in 6th bullet)
May 2 - Grand Canyon Education Inc:
* GRAND CANYON EDUCATION, INC. REPORTS FIRST QUARTER 2018 RESULTS
* Q1 EARNINGS PER SHARE $1.52 * Q1 REVENUE $275.7 MILLION VERSUS I/B/E/S VIEW $274.1 MILLION
* Q1 EARNINGS PER SHARE VIEW $1.39 — THOMSON REUTERS I/B/E/S
* SEES FULL YEAR 2018 DILUTED EPS OF $4.82 * FY2018 EARNINGS PER SHARE VIEW $4.70, REVENUE VIEW $1.05 BILLION — THOMSON REUTERS I/B/E/S Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/corrected-brief-grand-canyon-education-r/corrected-brief-grand-canyon-education-reports-q1-earnings-per-share-1-52-idUSL3N1SA4MI |
May 30, 2018 / 5:19 PM / Updated 2 hours ago Soccer helps migrants feel at home in World Cup city St Petersburg Reuters Staff 3 Min Read
ST PETERSBURG, Russia (Reuters) - Far from his native Uzbekistan, labour migrant Rustam Mustafakulov has found a second home in the World Cup host city of St Petersburg, playing soccer with other immigrants from Mali to Turkmenistan. FILE PHOTO: Men play football at a sports ground in Moscow, Russia May 27, 2018. REUTERS/Maxim Shemetov
The 34-year-old window cleaner plays for FC Maxima, an amateur soccer team set up specially to help immigrants settle in the northern Russian city. He says the regular sport and close camaraderie keep him going.
“We have been playing together for so many years, we’ve all become friends,” said Mustafakulov who played professional football in his native Uzbekistan.
Maxima, which also comprises players from Egypt, Cameroon, Armenia and Egypt, was formed in 2007 in St Petersburg, one of 11 Russian cities hosting the FIFA World Cup that kicks off next month.
Mustafakulov says life in Russia has not always been easy, and that some locals have made comments about his nationality and accused him of taking jobs that should go to Russians.
The team’s Turkmen founder and coach, Bakhtiyar Yusupov, said he set up the team to make players “feel at home, regardless of their social status”.
“(They) are all equal on the pitch,” he said.
Maxima has taken part in St Petersburg’s city championships, a competition for amateur soccer players, finishing fourth in 2017.
Some of the players are hoping to use the team as a launch pad to higher tier football.
Mohammed Hafez who moved to Russia after meeting his now-wife Natalia at a beach resort in his native Egypt is hoping to get talent-spotted by scouts.
The 27-year-old is hoping to emulate the rise to fame of Egyptian Liverpool striker Mohamed Salah.
“This is my dream, to play, and I will not give up, God willing I will make this come true,” Hafez said.
In Russia, migrant workers often carry out poorly paid menial work, and according to human rights groups are subject to frequent document checks by police and suffer racist discrimination.
Russian authorities deny migrants are mistreated and say document checks are required for national security. Writing by Tom Balmforth; Editing by Alison Williams | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-worldcup-russia-migrant-team/soccer-helps-migrants-feel-at-home-in-world-cup-city-st-petersburg-idUKKCN1IV2C7 |
May 7, 2018
Facebook’s move into dating won’t include ads.
The world’s largest social network last week said that it will launch a dating service that will allow the 200 million Facebook users on the service who classify themselves as “single” to find a partner. Speaking to developers at his company’s F8 conference, Facebook CEO Mark Zuckerberg said that the dating service will focus on “real long-term relationships” and not just “hookups.”
But in light of Facebook’s Cambridge Analytica scandal, which saw data on millions of its users unwittingly transferred to third-parties, you might be wondering whether any of your activity on the dating site—content that might be best-suited for the two people involved in the possible relationship—would be used by the social network.
To allay those fears, Facebook told Recode in a statement over the weekend that its service will be ad-free. Additionally, Facebook made clear that none of the data associated with the dating profile or information on what you might be doing or who you might be seeking through the service will be used to target ads. The data also won’t be used to target dating service users with ads on other Facebook services, like Instagram or WhatsApp.
Get Data Sheet , Fortune’s technology newsletter
Regardless, you’ll have some waiting to do. Facebook said that it plans to begin testing the service at some point this year and use those tests to make a final determination on when the dating service should launch.
When the service does launch, Facebook is promising a variety of features , including recommendations that use your interests and location, among other factors, to pair you with someone you might like. The service will also support groups and events for meeting up with other singles. SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/07/facebook-dating-app-ads/ |
May 2, 2018 / 7:44 PM / Updated 11 minutes ago South Sudan president names Gabriel Jok Riak new army chief Denis Dumo 1 Min Read
JUBA (Reuters) - South Sudan’s President Salva Kiir appointed General Gabriel Jok Riak as the new head of the army on Wednesday, according to a decree read out on State Television.
Riak’s appointment follows the death in Cairo last month of army chief General James Ajongo after a short illness.
Riak, from Jonglei State in the Upper Nile region, was the deputy army chief for operations and has been serving as the acting army chief.
“I..do hereby issue this Republican Decree for the appointment of General Gabriel Jok Riak Makol as the chief of the Defense Force of the Sudan People’s Liberation Army (SPLA),” Kiir’s statement read.
South Sudan, which obtained independence from Sudan in 2011 and is the world’s youngest nation, has been mired in civil war since 2013, when Kiir fired his deputy. Tens of thousands of people have been killed in fighting often along ethnic lines, and much of the nation has faced dire food shortages. Reporting by Denis Dumo; Writing by Omar Mohammed; Editing by Hugh Lawson | ashraq/financial-news-articles | https://www.reuters.com/article/us-southsudan-army/south-sudan-president-names-gabriel-jok-riak-new-army-chief-idUSKBN1I32Q4 |
April 30 (Reuters) - AL ISRA FOR EDUCATION AND INVESTMENT CO :
* Q1 COMPREHENSIVE INCOME 1.9 MILLION DINARS VERSUS 1.6 MILLION DINARS YEAR AGO
* Q1 REVENUE 4.5 MILLION DINARS VERSUS 4.4 MILLION DINARS YEAR AGO Source: ( bit.ly/2HIEs5L ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-al-isra-for-education-and-investme/brief-al-isra-for-education-and-investment-q1-profit-rises-idUSFWN1S70QJ |
May 4, 2018 / 11:11 AM / in 5 minutes BRIEF-Chemours Co Names Jonathan Lock As Vice President Of Corporate Development And Investor Relations Reuters Staff 1 Min Read
May 4 (Reuters) - Chemours Co:
* THE CHEMOURS COMPANY NAMES JONATHAN LOCK AS VICE PRESIDENT OF CORPORATE DEVELOPMENT AND INVESTOR RELATIONS Source text for Eikon: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-chemours-co-names-jonathan-lock-as/brief-chemours-co-names-jonathan-lock-as-vice-president-of-corporate-development-and-investor-relations-idUSASC09ZW4 |
May 1, 2018 / 12:49 PM / Updated 6 hours ago India to allow foreigners to invest in T-bills Reuters Staff 2 Min Read
MUMBAI (Reuters) - The Reserve Bank of India (RBI) said it will allow foreign portfolio investors (FPIs) to invest in treasury bills issued by the government, in its latest move to ease foreign investment rules. A man checks his phone outside the Reserve Bank of India (RBI) headquarters in Mumbai, India, April 5, 2018. REUTERS/Francis Mascarenhas/Files
The RBI’s announcement on Tuesday comes days after it withdrew a restriction that limited foreign investors to only investing in government and corporate bonds with tenures of three years or more.
It was unclear when the rule change on investment in T bills would come into effect.
However, if a non-resident entity sets up five funds, for example, the total investment by the five FPIs would be considered when checking to see if they are within limits that will be set, the RBI added.
The changes to investment by FPIs come amid weak investor interest at two recent government bond auctions, following hawkish central bank statements, that led to a spike in sovereign debt yields.
Foreign investors had previously piled into Indian debt since last year, attracted by a strong rupee and high domestic yields. Reporting by Suvashree Dey Choudhury and Tanvi Mehta; Editing by Amrutha Gayathri and Susan Fenton | ashraq/financial-news-articles | https://in.reuters.com/article/india-cenbank-fpis/rbi-allows-foreign-investors-to-invest-in-t-bills-idINKBN1I23LL |
WASHINGTON—State and provincial regulators in the U.S. and Canada said they have conducted a wide-ranging crackdown on initial coin offerings throughout the past several weeks, resulting in nearly 70 open investigations and 35 pending or completed enforcement actions.
As part of a coordinated action plan dubbed “Operation Cryptosweep,” the regulators said they went after dozens of initial coin offerings, or ICOs, whose popularity in recent months has made them popular vehicles to solicit funds from investors. An initial coin... RELATED VIDEO Bitcoin vs. Regulators: Who Will Win? As bitcoin has emerged from the underground world of nerds and criminals to become a mainstream investment, the risk of hacks and scandals has also blossomed. What's a government to do? The WSJ's Steven Russolillo travels the world (sort of) to see how regulators are responding to the remarkable rise of cryptocurrencies. Video: Sharon Shi and Crystal Tai To Read the Full Story Subscribe Sign In | ashraq/financial-news-articles | https://www.wsj.com/articles/state-and-provincial-regulators-in-u-s-and-canada-target-initial-coin-offerings-1526918512 |
May 1 (Reuters) - Engage:BDR Ltd:
* SEEKS TRADING HALT PENDING ANNOUNCEMENT BY COMPANY TO MARKET REGARDING A PROPOSED ACQUISITION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-engagebdr-seeks-trading-halt-pendi/brief-engagebdr-seeks-trading-halt-pending-cos-announcement-to-market-idUSFWN1S71EK |
May 16 (Reuters) - Amazon.com Inc:
* AMAZON ANNOUNCES NEW TUCSON FULFILLMENT CENTER * AMAZON.COM INC - TUCSON FACILITY WILL EMPLOY MORE THAN 1,500 ASSOCIATES Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-amazon-announces-new-tucson-fulfil/brief-amazon-announces-new-tucson-fulfillment-center-idUSFWN1SN0Y6 |
BEIJING (Reuters) - Premier Li Keqiang said on Thursday China’s constitution protects human rights after he was asked about Liu Xia, the widow of Nobel Peace Prize-winner Liu Xiaobo, with concern growing that Beijing will not allow her to leave the country.
China's Premier Li Keqiang speaks at a joint news conference with German Chancellor Angela Merkel (not pictured) at the Great Hall of the People in Beijing, China, May 24, 2018. REUTERS/Jason Lee/Pool Liu Xia, an artist and poet who suffers from depression, has been under effective house arrest since her husband was awarded the prize in 2010. She has never been charged with any crime.
Liu Xiaobo died of liver cancer in July while in Chinese custody, having been jailed in 2009 for inciting subversion.
Li answered a question about Liu Xia’s freedom by saying China’s constitution states that it respects and protects human rights. He said at a joint briefing with German Chancellor Angela Merkel in Beijing he hoped China and Germany could talk about individual human rights cases on an equal basis.
“China will respect the actions taken in accordance with the law by judicial and law enforcement bodies, but at the same time we must respect humanitarianism and follow humanitarian principles,” Li said.
“On relevant individual cases, we hope to have dialogue on the basis of mutual respect and equality. We will explain our situation,” Li said, without elaborating or mentioning Liu Xia by name.
Merkel had brought up human rights issues with him and China was willing to hold talks on the subject with Germany by the end of this year, he said.
China has repeatedly said Liu Xia is free and is accorded all rights guaranteed to her by Chinese law.
However, Beijing-based Western diplomats say she has been closely monitored by Chinese authorities since her husband’s death and has only been able to meet and speak to friends and family in pre-arranged phone calls and visits.
Repeated delays by Beijing in recent months over discussions that would allow Liu Xia to leave China have raised concern that she will be unable to fulfill her wish to live overseas, a Western diplomat involved in the case told Reuters.
Dozens of writers, poets and artists from around the world called last week for China to release Liu Xia after a friend who lives in Germany released details of a phone conversation where Liu Xia said she was prepared to die in China.
Western diplomats in Beijing took the rare step two weeks ago of attempting to visit Liu Xia in her home but were turned away by security personnel, an official of one of the embassies involved told Reuters. The official declined to be identified.
Reporting by Ben Blanchard; Writing by Christian Shepherd; Editing by Paul Tait
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-germany-rights/chinas-li-says-hopes-to-talk-with-germany-about-human-rights-on-equal-basis-idUSKCN1IP0HN |
The unemployment rate is expected to have fallen to 4% in April for the first time since 2000, a sign of increasing labor-market pressures that could have big implications for investors. The Labor Department’s U.S. jobs report, expected at 8:30 a.m. ETis expected to show another month of strong hiring. This should push the jobless rate 5 Questions for Warren Buffett Ahead of the Annual Meeting Next Stocks to Watch: CBS, Twitter, Tesla, Nike, Berkshire, Newell, Activision Blizzard, Celgene, Pandora, GoPro | ashraq/financial-news-articles | https://blogs.wsj.com/moneybeat/2018/05/04/investors-beware-the-falling-unemployment-rate/ |
TORONTO, May 01, 2018 (GLOBE NEWSWIRE) -- Seabridge Gold (TSX:SEA) (NYSE:SA) announced today that its 2017 Annual Report is now available on its website at www.seabridgegold.net/sharefinrep.php . In every annual report, the Company reviews the success of its programs for the year just ended measured against previously announced goals and sets out its plans and objectives for the current year. This year’s report also highlights the Company’s sustainable development initiatives and analyzes the potential impact of its unique strategy of growing its gold ownership per share.
Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company’s principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s mineral reserves and resources by project and category please visit the Company’s website at http://www.seabridgegold.net/resources.php .
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
All reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman & CEO
For further information please contact:
Rudi P. Fronk, Chairman and CEO
Tel: (416) 367-9292 · Fax: (416) 367-2711
Email: [email protected]
Source:Seabridge Gold, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/globe-newswire-seabridge-gold-publishes-2017-annual-report.html |
May 25, 2018 / 1:17 AM / Updated an hour ago Asian shares on the defensive but North Korea's stance soothes nerves Hideyuki Sano 5 Min Read
TOKYO (Reuters) - Market sentiment was a little shaky on Friday with Asian shares on the defensive after U.S. President Donald Trump scrapped a key summit with North Korea, though investors’ fears were calmed by Pyongyang’s measured response to the cancellation. Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, February 6, 2018. REUTERS/Toru Hanai
North Korean Vice Foreign Minister Kim Kye Gwan said Pyongyang still hoped for a “Trump formula” to resolve the standoff over its nuclear weapons program, noting that North Korea was open to resolving issues with the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while South Korea’s Kospi pared much of its earlier loss of 0.9 percent. Japan’s Nikkei was up 0.1 percent.
On Wall Street the S&P 500 ended 0.2 percent lower on Thursday, though it clawed back a large part of its earlier loss of 0.95 percent.
Even before the reaction from Pyongyang, there were no immediate signs of widespread investor panic with Wall Street’s volatility index, seen as a gauge of investors’ fears, ending at a four-month low on Thursday.
Analysts said that level of calm reflected investors becoming accustomed to Trump’s dramatic negotiation style, in which he makes drastic calls before making compromises, and are increasingly seeing his North Korea’s Kim Jong Un adopt a similar approach.
“I suspect they couldn’t agree on denuclearisation. But looking at comments from the both sides, none of them is ruling out holding a meeting in the future. So I do not expect to see an immediate escalation in military tension,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.
Adding to political jitters was Trump’s raising the specter of high U.S. tariffs on imported cars, reigniting fears of a trade war, although some investors see this as a Trump tactic to get better deals from big car-exporting countries.
The 10-year U.S. Treasuries yield dipped to as low as 2.955 percent on Thursday as bond prices rose before it ticked back to 2.992 percent in Asia on Friday. It is still off a seven-year high of 3.128 percent hit a week ago.
“For many Asian markets, rises in U.S. bond yields would have been a bigger problem (than cancellation of the meeting between Trump and Kim),” said Yukino Yamada, senior strategist at Daiwa Securities.
Worries that investors could shift assets from emerging markets to higher-yielding U.S. bonds have been a major headwind for emerging markets.
The yen slipped in Asia after hitting a two-week high against the dollar on Thursday in a reflex flight-to-safety reaction to Trump’s maneuvers.
The dollar traded at 109.60 yen, up 0.3 percent for the day. But it was still off Monday’s four-month high of 111.395 yen and looks set to post its first weekly loss in nine weeks.
The yen is seen as a safe haven because of Japan’s status as the world’s largest net creditor nation.
The dollar extended its losses against the Swiss franc to hit 0.9886 franc overnight, its lowest level since April, before steadying at 0.9921.
The euro traded at $1.1712, slightly above its six-month low of $1.1676 touched on Wednesday, on course to mark its sixth consecutive declining week.
The currency was dogged by worries of a new coalition government in Italy to be formed by two anti-establishment parties, as well as mounting signs of an economic slowdown in the euro zone.Among emerging market currencies, the Turkish lira tumbled again, giving up a large chunk of the gains it made after the central bank raised interest rates by 300 points on Wednesday.
The lira has been hit by concerns about the central bank’s ability to tame double-digit inflation, particularly after President Tayyip Erdogan — a self-described “enemy of interest rates” — said he expected to assert more policy control after June 24 elections.
The lira fell 1.5 percent in Asia on Friday.
Oil prices slipped, partly on speculation reduced supplies from Venezuela and Iran could prompt the Organization of the Petroleum Exporting Countries (OPEC) to wind down output cuts in place since the start of 2017.
Russia hinted it may gradually increase output, after having withheld supplies in concert with the OPEC producer cartel since 2017.
OPEC may decide in June to lift output to make up for reduced supply from crisis-hit Venezuela and Iran, which was stung by the U.S. decision to withdraw from a multilateral nuclear arms control deal, OPEC and oil industry sources told Reuters.
Brent crude futures stood at $78.68 a barrel, down 0.15 percent on Friday after a 1.27 percent loss the previous day. U.S. West Texas Intermediate (WTI) crude CLc1 futures were little changed at $70.66 per barrel. They lost 1.57 percent on Thursday. Editing by Sam Holmes and Eric Meijer | ashraq/financial-news-articles | https://uk.reuters.com/article/us-global-markets/asian-shares-shaky-after-trump-ditches-summit-with-north-korea-idUKKCN1IQ05V |
Mercury pollution is a problem usually associated with fish consumption. Pregnant women and children in many parts of the world are advised to eat fish low in mercury to protect against the adverse health impacts, including neurological damages, posed by a particularly toxic form of mercury, methylmercury.
But some people in China, the world's largest mercury emitter, are exposed to more methylmercury from rice than they are from fish. In a recent study , we explored the extent of this problem and which direction it could go in the future.
We found that China's future emissions trajectory can have a measurable influence on the country's rice methylmercury. This has important implications not only in China but across Asia, where coal use is increasing and rice is a staple food. It is also relevant as countries across the world implement the Minamata Convention , a global treaty to protect human health and the environment from mercury.
Why is mercury a problem in rice? Measurements of methylmercury in rice in China from the early 2000s were in areas where mercury mining and other industrial activities led to high mercury levels in soil that was then taken up by rice plants. More recent research, however, has shown that methylmercury in rice is also elevated in other areas of China . This suggests that airborne mercury – emitted by sources such as coal-fired power plants and subsequently settling onto the land – might also be a factor.
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Could bats guide humans to clean drinking water in places where it's scarce?
To better understand the process of methylmercury accumulation in rice through deposition – that is, mercury originating from the air that rains out or settles to the land – we constructed a computer model to analyze the relative importance of soil and atmospheric sources of rice methylmercury. Then we projected how future methylmercury concentrations could change under different emissions scenarios.
Concentrations of methylmercury in rice are lower than those in fish, but, in central China, people eat much more rice than fish. Studies have calculated that residents in areas with mercury-contaminated soil consume more methylmercury than the U.S. EPA's reference dose of 0.1 microgram methylmercury per kilogram of body weight per day, a level set to protect against adverse health outcomes such as decreased IQ. Recent data suggest that other neurodevelopmental impacts from methylmercury might occur at levels below the reference dose . Few health studies, however, have examined impacts of methylmercury exposure to rice consumers specifically.
To identify the potential scope of the problem, we compared the areas in China where mercury deposition is expected to be high based on mercury models, with maps of rice production. We found that provinces with high mercury deposition also produce substantial amounts of rice. Seven provinces in central China (Henan, Anhui, Jiangxi, Hunan, Guizhou, Chongqing and Hubei) account for 48 percent of Chinese rice production and receive nearly double the atmospheric mercury deposition as the rest of China.
We calculated that mercury deposition could increase nearly 90 percent or decrease by 60 percent by 2050, depending on future policies and technologies .
Our modeling approach To understand how mercury from the atmosphere might be incorporated into rice as methylmercury, we built a model to simulate mercury in rice paddies. Methylmercury is produced in the environment by biological activity – specifically, by bacteria. Often, this occurs in flooded environments such as wetlands and sediments. Similarly, rice paddies are kept flooded during the growing season, and the nutrient-rich environment created by rice roots support both the bacterial growth and methylmercury production.
Our rice paddy model simulates how mercury changes form, accumulates and converts to methylmercury in different parts of the ecosystem, including in the water, the soil and the rice plants.
In our model, mercury enters the standing flooded water via deposition and irrigation processes, and then moves among water, soil and plants. After initializing and calibrating the model, we ran it for the typical five-month duration from planting seedlings to rice harvest and compared our results to measurements of mercury in rice from China. We also conducted different simulations with varying atmospheric deposition and soil mercury concentrations.
Despite its simplicity, our model was able to reproduce how rice methylmercury concentrations vary across different Chinese provinces. Our model was able to accurately reflect how higher soil mercury concentrations led to higher concentrations in rice.
But the soil wasn't the whole story. Mercury from water – which can come from the flooded water in rice paddies or the water held in the soil – can also influence concentrations in rice. How much depends on the relative rates of different processes within soil and water. Under some conditions, a portion of the mercury in rice can come from the mercury in the atmosphere, once that mercury is deposited to the rice paddy. This suggested that changing emissions of mercury could potentially affect concentrations in rice.
Future emissions can influence rice How will the rates of mercury in rice change in the future?
We examined a high emission scenario, which assumes no new policies to control mercury emissions by 2050, and a low emission scenario, where China uses less coal and coal-fired power plants have advanced mercury emission controls. Median Chinese rice methylmercury concentrations increased by 13 percent in the high scenario and decreased by 18 percent under the low scenario. Regions where rice methylmercury declined the most under strict policy controls were in central China, where rice production is high and rice is an important source of methylmercury exposure.
Managing mercury concentrations in rice thus requires an integrated approach, addressing both deposition and soil and water contamination. Understanding local conditions is also important: Other environmental factors not captured by our model, such as soil acidity, can also influence methylmercury production and accumulation to rice.
Different rice production strategies can also help – for example, alternating wetting and drying cycles in rice cultivation can reduce water consumption and methane emissions as well as rice methylmercury concentrations.
Our scenarios likely underestimate the potential health benefits of Minamata Convention controls in China, which is a party to the Convention. We include in our scenarios only changes in air emissions from power generation, while the Convention controls emissions from other sectors, bans mercury mining and addresses contaminated sites and land and water releases.
Reducing mercury could also be beneficial for other rice-producing countries, but at present, there are few data available outside China . However, our research suggests that the problem of mercury is not just a fish story – and that policy efforts can indeed make a difference.
Commentary by Noelle Eckley Selin and Sae Yun Kwon, an Associate Professor of Data, Systems, and Society and Atmospheric Chemistry and an Assistant Professor at the Division of Environmental Science & Engineering at Massachusetts Institute of Technology and Pohang University of Science and Technology, respectively. They are also contributors at The Conversation , an independent source of news and views from the academic and research community. Follow Noelle Eckley Selin on Twitter @noelleselin .
For more insight from CNBC contributors, follow @CNBCopinion on Twitter. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/03/another-problem-with-chinas-coal-mercury-in-rice.html |
May 17, 2018 / 4:41 PM / Updated 2 hours ago ATP World Tour Masters 1000 / WTA Premier, Rome Masters Men's Doubles Results Reuters Staff 2 Min Read May 17 (OPTA) - Results from the ATP World Tour Masters 1000 / WTA Premier, Rome Masters Men's Doubles matches on Thursday .. 2nd Round .. 1-Lukasz Kubot (POL) and beat Santiago Gonzalez (MEX) 7-6(4) 6-7(5) Marcelo Melo (BRA) and 1-0(2) Aisam-Ul-Haq Qureshi (PAK) 6-Juan Sebastian Cabal beat Robin Haase (NED) and 6-7(5) 7-5 (COL) and Jean-Julien Rojer (AHO) 1-0(8) Robert Farah (COL) 4-Henri Kontinen (FIN) and beat John Isner (USA) and 7-6(2) 6-3 John Peers (AUS) Jack Sock (USA) 8-Feliciano Lopez (ESP) beat Juan Martin del Potro (Walkover) and (ARG) and Marc Lopez (ESP) Leonardo Mayer (ARG) Pablo Cuevas (URU) and beat 7-Rohan Bopanna (IND) and 7-6(5) 6-4 Marcel Granollers (ESP) Edouard Roger-Vasselin (FRA) 2-Oliver Marach (AUT) and beat Steve Johnson (USA) and 0-6 6-3 1-0(14) Mate Pavic (CRO) Dominic Thiem (AUT) | ashraq/financial-news-articles | https://uk.reuters.com/article/tennis-atp-results-mens-doubles/atp-world-tour-masters-1000-wta-premier-rome-masters-mens-doubles-results-idUKMTZXEE5HVSS80J |
WEST LAFAYETTE, Ind., May 02, 2018 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted therapeutics for personalized cancer treatment, today announced that the company will host a conference call on Wednesday, May 9th, at 8:30 a.m. EDT to discuss its first quarter financial results and provide an operational update.
Investors and the general public are invited to listen to a live webcast of the call, which can be accessed in the Investors & News section of the Company’s website at www.endocyte.com or by dialing (877) 845-0711 (U.S./Canada) or (760) 298-5081 (International).
The webcast will be recorded and available on the Company’s website for 90 days following the call.
Website Information
Endocyte routinely posts important information for investors on its website, www.endocyte.com , in the “Investors & News” section. Endocyte uses this website as a means of disclosing material information in compliance with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the “Investors & News” section of Endocyte’s website, in addition to following its press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, Endocyte’s website is not incorporated by reference into, and is not a part of, this document.
About Endocyte
Endocyte is a biopharmaceutical company and leader in developing targeted therapies for the personalized treatment of cancer. The company's drug conjugation technology targets therapeutics and companion imaging agents specifically to the site of diseased cells. Endocyte's lead program is a prostate specific membrane antigen (PSMA)-targeted radioligand therapy, 177 Lu-PSMA-617, entering phase 3 for metastatic castration resistant prostate cancer (mCRPC). Endocyte is also advancing its adaptor-controlled CAR T-cell therapy into the clinic in 2018, where it will be studied in osteosarcoma. For additional information, please visit Endocyte's website at www.endocyte.com .
Investor Contact:
Stephanie Ascher, Stern Investor Relations, Inc., (212) 362-1200, [email protected]
Source:Endocyte, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/globe-newswire-endocyte-announces-first-quarter-2018-earnings-call.html |
May 16 (Reuters) - The initial public offering of online learning platform PluralSight Inc was priced at $15 per share, sources familiar with the matter said on Wednesday, above a raised range.
The Farmington, Utah-based company on Tuesday increased its expected IPO price range to between $12 and $14 per share, from the prior $10 to $12 per share range on the back of strong demand.
The offering was oversubscribed more than 20 times, one of the sources said.
The company, which is backed by private equity firm Insight Venture Partners, is a ‘unicorn’ - a privately held startup with a valuation of $1 billion or more.
The IPO of 20.7 million Class A shares raised $310.5 million and the company has said it would largely use the proceeds to pay down debt.
PluralSight provides online learning courses and are used by businesses to train their employees in technology-based skills including JavaScript and HTML. The platform can also be accessed privately by individuals.
The company, whose customers include Adobe and AT&T Inc, said 82 percent of billings in the first quarter of 2018 came from business customers while the rest came from individual users.
Following the IPO, Co-Founder and Chief Executive Officer Aaron Skonnard will hold about 54.4 percent of voting power, PluralSight had said in its filing bit.ly/2KoeiWJ.
The company’s revenue for the first three months of 2018 rose 33 percent to $49.6 million from a year earlier, while loss widened to $23.2 million from $9.8 million.
The stock is expected to start trading on the Nasdaq Global Select Market on Thursday under the ticker “PS.”
Morgan Stanley, J.P.Morgan, Barclays and BofA Merrill Lynch are leading the offering. (Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)
| ashraq/financial-news-articles | https://www.reuters.com/article/pluralsight-ipo-pricing/online-learning-platform-pluralsights-ipo-priced-at-15-shr-sources-idUSL3N1SL5SF |
JOHANNESBURG (Reuters) - A suspected explosive device was discovered on Sunday in a mosque near the South African port city of Durban where a fatal knife attack occurred last week, police said.
South Africa is racked by violent crime and social strife rooted in poverty and glaring income disparities, but it is seldom associated with the Islamist militancy seen on other parts of the continent.
“The bomb squad is there now in the mosque and they will give us a report if it is an explosive device or not,” said Simphiwe Mhlongo, a spokesman for the Directorate for Priority Crime Investigation, an elite police unit known as the “Hawks”.
He said the mosque had been swept by investigators on Friday and that nothing suspicious was found at that time.
Footage from the eNCA TV news network showed a large police presence at the mosque and worshippers and bystanders gathered outside, hundreds of metres (yards) away behind police tape.
Prem Balram, a spokesman for Reaction Unit SA, a private emergency service, was Quote: d on the News24 online news service as saying the mosque and homes in the area were evacuated “after a device resembling a bomb has been found inside the building”.
Three men armed with guns and knives attacked worshippers at the mosque near Durban on Thursday. One person was killed after his throat was slit, and two others were injured. [nL8N1SI1E4]
No arrests have been made yet in connection with that attack, Mhlongo said.
REditing by Edmund Blair
| ashraq/financial-news-articles | https://in.reuters.com/article/safrica-mosque-attack/suspected-explosive-device-found-at-south-africa-mosque-idINKCN1IF0BH |
May 4, 2018 / 5:52 AM / Updated 29 minutes ago Siemens Gamesa sees order intake up 54 percent in second quarter Reuters Staff 1 Min Read
MADRID (Reuters) - Siemens Gamesa ( SGREN.MC ), which overtook Vestas ( VWS.CO ) last year to become the world’s No.1 wind turbine maker, on Friday said the order book remained steady in the second quarter, citing record onshore order intake and price stabilization. FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West/File Photo
Most recent rankings by consultancy firms GlobalData and MAKE show Siemens Gamesa claiming the top spot in terms of sold turbine capacity last year, overtaking Danish rival Vestas ( VWS.CO ) in a race to cater the competitive wind power sector.
Majority owned by Germany’s Siemens ( SIEGn.DE ) following a merger of its wind power business with Spain’s Gamesa, Siemens Gamesa said second-quarter order intake for its onshore business stood at 2.5 GW, up 54 percent from a year earlier Reporting by Paul Day; Editing by Stine Jacobsen | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-siemensgamesa-results/siemens-gamesa-sees-order-intake-up-54-percent-in-second-quarter-idUKKBN1I50EO |
45 Mins Ago | 04:10
Facebook plans on opening up WhatsApp more to advertisers, the social media giant's vice president of messaging products, David Marcus, told CNBC on Tuesday.
Speculation about the future of advertising on WhatsApp grew after its founder, Jan Koum, left Facebook on Monday.
"As far as advertising is concerned, we're definitely getting WhatsApp more open," Marcus told Julia Boorstin on " Closing Bell " from Facebook's annual F8 developer conference.
"We're now going to have the ability to enable larger companies, not only small businesses, integrate a new API [application programming interface] to send and receive messages with people on the Whatsapp platform," he added. Dado Ruvic | Reuters The WhatsApp app
Earlier Tuesday, Barclays analysts predicted WhatsApp would likely use more ads now that Koum has departed. Facebook bought WhatsApp for $19 billion back in 2014.
"We've been told by many of our checks over the last few years that 'once Jan leaves, that's when the ads show up,'" the analysts said in a note.
While Koum gave no reason for his departure, the Washington Post reported that he was "worn down by the differences in approach" around a variety of issues, including ad-based revenue and data targeting.
Marcus said Koum simply decided he wanted to do something else right now, and said it is "definitely not the case" that there was any internal dissent over data.
Facebook announced a redesign of Messenger at the developer conference on Tuesday.
"The goal was to simplify the system and to make sure that we could actually ensure that messaging was really at the center of everything that people wanted to do," Marcus told CNBC.
The big news from the conference was CEO Mark Zuckerberg 's announcement that the social media giant is launching an opt-in dating feature . The news sent shares of online dating company Match plunging as much as 20 percent. Its parent company IAC also fell more than 10 percent.
—CNBC's Ingrid Angulo and Sara Salinas contributed to this report. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/01/facebook-messaging-boss-david-marcus-whatsapp-more-open-to-ads.html |
Resorts to veiled legal threat in bungled attempt to silence shareholders. Vote the BLUE proxy to bring accountability to Global Atomic.
TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Greyling Investments, Inc. (“Greyling”), which owns or controls 7,847,599 shares representing approximately 7.33% of the issued and outstanding shares of Global Atomic Corporation (“Global Atomic” or the “Company”) (TSXV:GLO), commented today on Global Atomic’s board of directors (the “Board”) failure to offer even a perfunctory defence of the concerns raised by Greyling in its May 29, 2018 letter to shareholders in respect of the Company’s conflicted and entrenched Board; generous management compensation; questionable track record and divided attentions of CEO Stephen Roman; the lack of transparency and meaningful disclosure and the enormous value destruction suffered by Global Atomic shareholders.
Greyling notes that the Company, rather than using the forum of its press release to respond to the serious issues Greyling raised, instead had the temerity to decry the “unnecessary time and money” that Greyling’s action would cost, all the while ignoring the ongoing cost to shareholders of clinging to the status quo. Greyling further notes that the Board has hired outside legal counsel and a proxy firm, using shareholder capital to do so, in order to fight the true owners of the Company – its shareholders! Greyling believes shareholders deserve a better response to the legitimate business and operations concerns it has raised.
The Board has also appeared to draw from a familiar basket of tricks and abuse of regulatory process, used by other boards facing serious stewardship questions, by levelling what to Greyling seems to be veiled legal threats that are unfounded and weak attempts to deflect the real issues. Greyling believes that Canadian securities regulators and the courts are tired of being used as forum for entrenched boards who cannot otherwise defend their track records of failure and value destruction.
Greyling will continue to push for an effective, objective board of directors that will oversee Global Atomic’s management and unlock shareholder value. It urges all shareholders of the Company to vote the BLUE proxy for all of its nominees.
The full text of Greyling’s May 29, 2018 letter to shareholders can be found here .
If you have any questions, contact Greyling’s proxy solicitor, Evolution Proxy Inc., at 1-833-744-9230 toll-free in North America, or at 416-907-4204 outside of North America (collect calls accepted), or by e-mail at [email protected] .
Disclaimers
Greyling has not sought or obtained consent from any third party to the use herein of previously published information. Any such information should not be viewed as indicating the support of such third party for the views expressed herein.
Except for the historical information contained herein, the matters addressed in these materials are forward-looking statements that involve certain risks and uncertainties. You should be aware that actual results could differ materially from those contained in the forward-looking statements. Greyling does not assume any obligation to update the forward-looking information.
Source: Greyling Investments, Inc.
Investor Contact:
Evolution Proxy, Inc.
1-833-744-9230 – North America
416-907-4204 – International
[email protected]
Media Contact:
Bayfield Strategy, Inc.
Riyaz Lalani
[email protected]
Source:Greyling Investments, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/30/globe-newswire-global-atomic-fails-to-defend-conflicted-and-entrenched-board.html |
Northrop Grumman, Charles Schwab, New York Community Bank, Hershey & Buckle 2 Hours Ago 01:27 01:27 | 9:57 AM ET Sun, 13 May 2018 02:54 02:54 | 10:32 AM ET Mon, 14 May 2018 00:44 00:44 | 11:48 AM ET Fri, 11 May 2018 | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/15/northrop-grumman-charles-schwab-new-york-community-bank-hershey-buckle.html |
ROME (Reuters) - The Italian government committee responsible for the use of golden powers at companies will not meet with any representatives from Telecom Italia on Monday, as reported by daily Corriere della Sera, a government source said.
FILE PHOTO: Telecom Italia tower is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/File Photo The paper said Fulvio Conti, who is part of the phone group’s new board and is seen as a front-runner to be appointed chairman later on Monday, was due to meet with the committee to discuss a pending decision over whom on the board should be given the powers related to national security.
Italy last year used the so-called ‘golden powers’ to have a say in some strategic decisions at Italy’s biggest phone group, a move widely seen as a bid to rein in the influence of top shareholder Vivendi.
Reporting by Massimiliano Di Giorgio, writing by Agnieszka Flak
| ashraq/financial-news-articles | https://www.reuters.com/article/us-telecomitalia-goldenpower/italys-golden-power-committee-wont-meet-with-telecom-italia-monday-source-idUSKBN1I80QB |
Sales rose at Tyson Foods Inc. in the company’s second quarter, helped by packaged foods, but rising labor and freight costs weighed on margins.
Tyson said Monday it made a profit of $315 million in its second quarter, or 85 cents a share, a down from $340 million, or 92 cents a share, for the same period the year before. On an adjusted basis, Tyson said it made $1.27 a share, up from $1.01 a share. Analysts polled by Thomson Reuters were expecting adjusted earnings of $1.30 a share.
... | ashraq/financial-news-articles | https://www.wsj.com/articles/rising-costs-cut-into-tyson-profit-1525696635 |
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