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May 2, 2018 / 7:44 AM / a few seconds ago Hard Brexit faction in May's party deny issuing threat over customs union Reuters Staff 2 Min Read
LONDON (Reuters) - The leader of a faction in British Prime Minister Theresa May’s Conservative party demanding a clean break from the European Union, has denied issuing an ultimatum after asking her to drop a proposal for a customs partnership with the bloc. FILE PHOTO: Anti-Brexit demonstrators wave EU and Union flags outside the Houses of Parliament in London, Britain, January 30, 2018. REUTERS/Toby Melville/File Photo
A document prepared by the European Research Group, which is chaired by Jacob Rees-Mogg, said it would be “impossible” for Britain to strike meaningful trade deals under a customs partnership.
“There is no question of there being an ultimatum, this is a paper that has been produced on a specific aspect of policy that would not work,” Rees-Mogg told BBC radio.
May’s Brexit sub-committee, which helps set the direction of policy on leaving the bloc, meets on Wednesday to discuss narrowing down the position on a future customs arrangement with the EU to one of two options.
A customs partnership is one of two proposed options that May’s government has proposed on customs, and means Britain would continue to collect EU tariffs for goods which are headed for member states. Reporting By Andrew MacAskill; editing by Alistair Smout | ashraq/financial-news-articles | https://www.reuters.com/article/uk-britain-eu-customs-rees-mogg/hard-brexit-faction-in-mays-party-deny-issuing-threat-over-customs-union-idUSKBN1I30TB |
NEW YORK--(BUSINESS WIRE)-- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Colony NorthStar, Inc. (NYSE: CLNS) who purchased shares between February 28, 2017 and March 1, 2018. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) Colony NorthStar’s Healthcare and Investment Management segments were performing worse than reported; (2) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 5, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-c/colony-northstar-inc?wire=2 .
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180502006620/en/
The Klein Law Firm
Joseph Klein, Esq., 212-616-4899
Fax: 347-558-9665
www.kleinstocklaw.com
Source: The Klein Law Firm | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/business-wire-the-klein-law-firm-reminds-investors-of-a-class-action-commenced-on-behalf-of-colony-northstar-inc-shareholders-and-a-lead.html |
May 24, 2018 / 7:47 PM / Updated 12 minutes ago Movie producer Weinstein to surrender on sex assault charges -media reports Reuters Staff 3 Min Read
NEW YORK (Reuters) - Harvey Weinstein, who went from one of Hollywood’s most powerful film producers to being disgraced by accusations of sexual assault by scores of women, is expected to surrender to police and face charges in New York on Friday morning, the New York Times reported. FILE PHOTO: Harvey Weinstein, co-chairman of the Weinstein Company, kicks off the Film Finance Circle conference with an informal discussion at the inaugural Middle East International Film Festival in Abu Dhabi, October 15, 2007. REUTERS/Steve Crisp/File Photo
Weinstein’s spokesman Juda Engelmayer and Weinstein’s lawyer Benjamin Brafman both declined to comment on the report, which cited two unidentified law enforcement officials.
The New York Daily News and NBC News also reported Weinstein was expected to be arrested and charged following a months-long investigation, including by the Manhattan district attorney’s office.
More than 70 women have accused the co-founder of the Miramax studio and The Weinstein Co of sexual misconduct, including rape. The allegations, first reported by the New York Times and the New Yorker last year, gave rise to the #MeToo movement in which hundreds of women have publicly accused powerful men in business, government and entertainment.
Weinstein has denied having non-consensual sex with anyone.
Weinstein will be charged over an allegation by at least one accuser, Lucia Evans, a former aspiring actress who told the New Yorker that Weinstein forced her to give him oral sex in 2004, the Times and Daily News reported. The exact nature of the charges being brought by the Manhattan District Attorney’s office was unclear on Thursday afternoon.
The New York Police Department and the Manhattan district attorney’s office declined to confirm the news reports.
Entertainment industry heavyweights have distanced themselves from Weinstein, once one of Hollywood’s most powerful men, since the accusations became public. The board of the Weinstein Co fired him, the company itself filed for bankruptcy in March. In 2017, he was expelled from the Academy of Motion Pictures Arts and Sciences, which presents the Oscars.
A former fixture in the most elite entertainment circles of Manhattan and Los Angeles, Weinstein has since been seen spending time in Scottsdale, Arizona, where the New York Times said he had been seeking treatment for sex addiction.
Actor Ashley Judd last month sued Weinstein, saying that he cost her a part in 1998 for the film “The Lord of the Rings” after she rejected his sexual advances, charges that Weinstein has denied.
Other prominent actors who have publicly accused Weinstein of sexual misconduct include Uma Thurman and Salma Hayek.
Brafman, Weinstein’s lawyer, is known for representing high-profile criminal defendants, including pop star Michael Jackson and Martin Shkreli, the former drug company executive.
In 2011, Brafman represented Dominique Strauss-Kahn, the former head of the International Monetary Fund, over charges, which were eventually dropped, that he sexually assaulted a New York City hotel maid. Reporting by Jonathan Allen, Dan Trotta, Karen Freifeld and Peter Szekely in New York and Jill Serjeant in Los Angeles; editing by Grant McCool | ashraq/financial-news-articles | https://in.reuters.com/article/us-people-harvey-weinstein/ex-hollywood-executive-weinstein-to-surrender-on-sex-assault-charges-nyt-idINKCN1IP3G1 |
May 20, 2018 / 4:48 AM / Updated 30 minutes ago South Korea's LG Group chairman dies from illness at 73 Jane Chung , Ju-min Park 3 Min Read
SEOUL (Reuters) - The chairman of South Korea’s LG Group, Koo Bon-moo, instrumental to transforming the country’s fourth-largest conglomerate into a global brand, passed away on Sunday after a year-long battle with brain disease. FILE PHOTO - LG Group chairman Koo Bon-moo meets U.S. President Barack Obama (not pictured) as they attend the groundbreaking of a factory for Compact Power Inc. in Holland, Michigan, U.S. July 15, 2010. REUTERS/Kevin Lamarque/File Picture
LG Group said in a statement Koo, 73, had been ill for a year.
A group official said Koo had been fighting a brain disease and had undergone surgery. The official declined to be named due to the sensitivity of the matter.
“Becoming the third chairman of LG at the age of 50 in 1995, Koo established key three businesses - electronics, chemicals and telecommunications - led a global company LG, and contributed to driving (South Korea’s) industrial competitiveness and national economic development,” LG said.
Under Koo’s leadership, the conglomerate changed its corporate brand to LG from Lucky Goldstar and sold LG’s semiconductor business to Hyundai, now SK Hynix Inc ( 000660.KS ), under government-led restructuring in the wake of the Asia financial crisis in the late 1990s. Slideshow (3 Images)
Major affiliates are LG Electronics Inc ( 066570.KS ), display maker LG Display ( 034220.KS ) and electric car battery maker LG Chem ( 051910.KS ).
Prior to its chairman’s death, LG Group had established a holding company in order to streamline ownership structure and begin the process of succession.
The country’s powerful family-run conglomerates are implementing generational succession amid growing calls from the government and public to improve transparency and corporate governance.
LG Corp ( 003550.KS ), a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession.
Heir apparent Koo Kwang-mo is from the fourth generation of LG Group’s controlling family. He owns 6 percent of LG Corp and works as a senior official at LG Electronics.
The senior Koo’s younger brother, the group’s vice chairman Koo Bon-joon, who led LG Electronics for many years, effectively managed the conglomerate in his stead.
South Korean prosecutors said this month they raided LG Group’s head office as part of a probe into alleged tax evasion by family members controlling the conglomerate.
Analyst do not see a change at the helm being disruptive to the group’s business.
“Although Koo passed away at a relatively early age, his son has been already in a senior position and I don’t think there will be a big change in governance structure or strategic decisions,” said Park Ju-gun, head of corporate analysis firm CEO Score.
The company said Koo’s funeral would be held privately at the request of the family. Reporting by Jane Chung and Ju-min Park; Additional reporting by Miyoung Kim and Jeongmin Kim; Editing by Jacqueline Wong | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-southkorea-lgcorp-chairman-death/south-koreas-lg-group-chairman-dies-from-illness-at-73-idUKKCN1IL058 |
OSLO, May 4 (Reuters) - The price of Norwegian farmed salmon is expected to rise by up to three crowns to a range of 77-78 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.
This week, prices were initially expected to rise 4-5 crowns to 71-72 crowns but ended at around 75-76 crowns.
“We believe prices will rise 1-2 crowns from 75-76 crowns this week,” said one producer, who declined to be named.
“There is less fish and, in addition, some exporters have delivery commitments to cover that are pushing up prices,” the producer added.
An exporter, who also declined to be named, confirmed the price rise.
“In average we have bought salmon at 78 crowns per kilo,” said the exporter, who expected the high prices to continue through May.
The producer thought high prices would continue in June before more production could ease prices.
In late January, the price of salmon stood at around 50 crowns per kilo, on fears of strong supply growth, but a cold Norwegian winter has since resulted in slower growth in fish stocks, giving a new price spike.
Norway is the world’s top salmon exporter, with fish farming the Nordic country’s second-largest export industry after oil and gas production. The share price of listed farming companies depends heavily on changes in the price of fish.
Average production costs for whole fish, including the cost of harvesting, rose by 13 percent to 34.29 crowns per kilo in 2016, according to data from the Norwegian Directorate of Fisheries.
Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche)
| ashraq/financial-news-articles | https://www.reuters.com/article/norway-salmon/norwegian-salmon-price-seen-rising-to-nok-77-78-next-week-sources-idUSL8N1SB4IT |
May 2 (Reuters) - TOTALBANKEN A/S:
* Q1 NET INTEREST AND FEES INCOME DKK 34.2 MILLION VERSUS DKK 33.0 MILLION YEAR AGO
* Q1 NET PROFIT DKK 12 MILLION VERSUS DKK 9.6 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdynia Newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-totalbanken-q1-net-profit-rises-to/brief-totalbanken-q1-net-profit-rises-to-dkk-12-million-idUSFWN1S90N4 |
May 3 (Reuters) - Fastighets AB Trianon:
* JAN-MARCH RENTAL INCOME SEK 78.5 MILLION VERSUS SEK 53.7 MILLION YEAR AGO
* JAN-MARCH PROFIT FROM PROPERTY MANAGEMENT SEK 27.7 MILLION VERSUS SEK 23.5 MILLION YEAR AGO Source text for Eikon: (Gdynia Newsroom)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-fastighets-ab-trianon-q1-profit-fr/brief-fastighets-ab-trianon-q1-profit-from-property-management-up-at-sek-27-7-mln-idUSFWN1SA079 |
VCG/VCG | Getty Images Wu Xiaohui, Chairman and chief executive officer of Anbang Insurance Group. HONG KONG — Wu Xiaohui, the Chinese tycoon who rose to international prominence to buy the Waldorf Astoria Hotel, was sentenced to 18 years in prison on Thursday after having pleaded guilty to defrauding investors.
Mr. Wu was convicted by a court in Shanghai of using the company he founded, Anbang Insurance Group, to cheat investors out of more than $10 billion, in one of China's biggest cases of financial crime.
Facing a potential life sentence, Mr. Wu had pleaded guilty to the charges and asked the court to consider a lighter sentence.
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The Shanghai No. 1 Intermediate People's Court handed down its sentence as 50 people, including members of Mr. Wu's family, sat in the courtroom, according to a statement from the court.
Mr. Wu was thrust into the spotlight in February when the government seized Anbang, in part of a crackdown on companies that have acquired too much debt by bingeing on overseas assets.
He initially contested the charges in March during his first and only appearance in the court, which included allegations that he had instructed his employees to flee overseas and change their contact information when the government began investigating the company last year.
"I repent deeply, I know and regret my crimes," Mr. Wu said then in a televised statement from the court.
Anbang went on an international buying spree in recent years, most notably acquiring the Waldorf Astoria Hotel in Manhattan for $2 billion.
When the government seized Anbang earlier this year, it shook investors as far as Vancouver, where the company owns a retirement home, and Amsterdam, where it owns an insurance company.
Chinese prosecutors accused Mr. Wu of a convoluted scheme in which he hid his control in Anbang through of a web of companies. According to the prosecutors, Mr. Wu instructed employees to falsify financial statements and marketing information. In this way, the government said, Mr. Wu was able to skirt regulations and raise money from the public.
The court said in a statement that it had seized Mr. Wu's bank accounts, real estate and equity.
In a response on Thursday, Anbang said that Mr. Wu had been removed from his duties as chairman of the company, adding that its operations are under government supervision.
"Anbang has sufficient cash flow to fulfill its commitments to all customers and ensure that the legitimate rights of policyholders are effectively protected," the company said in a statement.
Mr. Wu's lawyer, Zhai Jian, declined to comment. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/10/chinese-tycoon-waldorf-astoria-hotel-18-years-prison-10-billion-fraud.html |
May 7 (Reuters) - Royal Century Resources Holdings Ltd :
* ZHANG WEIJIE APPOINTED AS AN EXECUTIVE DIRECTOR Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-royal-century-resources-appoints-z/brief-royal-century-resources-appoints-zhang-weijie-as-executive-director-idUSFWN1SE0RU |
Twenty-First Century Fox Executive Chairman Rupert Murdoch is used to getting his way at the company he built into a media empire. But a challenge to a $52 billion deal he put together six months ago could test his sway with shareholders.
Several Fox investors told Reuters they would be open to terminating the company's agreement, inked in December, to sell most of its media assets to Walt Disney if Comcast follows through on its plan, revealed by Reuters last week, to launch a rival all-cash bid for as much as $60 billion.
Murdoch, Fox's largest shareholder, will be tough to win over, however. His family trust holds a 17 percent stake in the U.S. TV and movie giant and would face a multi-billion dollar capital gains tax bill if he accepted an all-cash offer from Comcast, tax experts told Reuters.
"If the deal was done exactly the same way, but for cash rather than stock, the tax liability would be mammoth," said Robert Willens, president of tax and consulting firm Robert Willens LLC. "Gains would be taxed at capital gain rates which, for a New York resident, amounts to about 30 percent."
The exact tax hit for 87-year-old Murdoch cannot be ascertained because details of his trust are not public. A Fox spokesman declined to comment on behalf of Murdoch on his tax affairs and how they would influence deal considerations.
However, sources close to the deal between Disney and Fox said the financial impact on Murdoch would be big enough for him to prefer an all-stock transaction, which would be non-taxable for all Fox shareholders.
That potentially puts Murdoch, who remains the most powerful voice inside the company, at odds with some Fox shareholders who would be open to abandoning the Disney deal if Comcast's cash offer was high enough.
"I always prefer cash deals," said Salvatore Muoio, whose New York-based investment firm S. Muoio & Co owns 26,000 shares of Fox, according to Thomson Reuters data. "The value of a cash deal is certain."
Other Fox investors said their decision would be based on the price that Comcast offered. "I would have to look at the tax dynamic and what it would mean for my taxable clients," said Mario Gabelli, chairman and CEO of Gamco Investors , whose firm owns 9.6 million shares of Fox.
Fox's large institutional investors, such as index fund managers BlackRock and Vanguard , do not factor in taxes when choosing between cash and stock deals, because they are not taxed on any income they distribute to shareholders, even though this might affect some of their individual investors.
Fox, Comcast, Disney, BlackRock, and Vanguard all declined to comment.
Murdoch v. shareholders Murdoch's family trust controls 39 percent of Fox due to shares it holds with special voting rights.
However, under the company's bylaws, those special rights do not apply to a vote on the Disney deal, when the Murdoch trust will only have 17 percent of the vote. That makes it easier for other shareholders to defeat him in the vote, which is expected as early as next month.
Comcast made an all-stock offer for Fox's assets late last year, before Disney clinched a deal, and is now considering an all-cash offer after the value of its shares declined by 20 percent in the last six months, sources told Reuters last week. Comcast also believes it has capacity to borrow more money, according to sources familiar with the U.S. cable operator's thinking.
To be sure, Comcast has hurdles to overcome beyond Murdoch's taxes. Its all-stock bid last November for $34.41 per share was rejected by the board due to antitrust concerns, even though it was higher than Disney's $29.54 per share offer.
Sources said last week Comcast will make a new offer only if a U.S. judge allows AT&T to proceed with its planned $85 billion acquisition of Time Warner , which has been challenged by the U.S. Department of Justice on antitrust grounds.
Should Comcast's all-cash bid materialize, some shareholders could argue the Murdoch family should recuse itself from the deal deliberations due to the tax issue, corporate governance experts told Reuters.
"If there was a marked difference on the tax effect on Murdoch compared to other Fox shareholders, that could give rise to a conflict that would make it desirable to use an independent special board committee," said John Coffee, a law professor and director of Columbia Law School's Center on Corporate Governance. "Without information on his estate, I can't tell you if this marked difference exists."
Rupert Murdoch and his sons James and Lachlan — who are chief executive and executive chairman of Fox, respectively — participated in the negotiations and board deliberations that resulted in the deal with Disney, according to a regulatory filing with the U.S. Securities and Exchange Commission.
Although they wield outsized influence on Fox's 12-member board because of the voting power of the Murdoch trust, Fox still technically has a majority of independent directors on its board.
The only way Comcast could woo Murdoch is by offering a much higher pre-tax price for the deal compared to Disney, Willens said.
"It is not advisable for a man of Murdoch's age to engage in a taxable sale of his property," Willens said. "If he passed away while still owning the property, his heirs would achieve a basis step-up for the property, thus eliminating, forever, any capital gains tax on the appreciation in the assets that accrued during the scions' lifetime."
( Disclosure: Comcast is parent of NBCUniversal and CNBC. ) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/15/comcasts-all-cash-bid-could-pit-murdoch-against-fox-shareholders.html |
Spotify removes R. Kelly music from its playlists 9:03pm BST - 01:11
The music of embattled R&B singer R. Kelly has been deleted from Spotify’s owned and operated playlists, after the company announced a new ‘hate content' policy. ▲ Hide Transcript ▶ View Transcript
The music of embattled R&B singer R. Kelly has been deleted from Spotify’s owned and operated playlists, after the company announced a new ‘hate content' policy. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2KQ1r0N | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/10/spotify-removes-r-kelly-music-from-its-p?videoId=425666985 |
WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday he would know next week whether his summit with North Korean leader Kim Jong Un would take place on June 12 in Singapore as scheduled, casting further doubt on plans for the unprecedented meeting.
U.S. President Donald Trump gives a thumbs up as he boards Air Force One to travel to New York from Joint Base Andrews in Maryland, U.S., May 23, 2018. REUTERS/Kevin Lamarque White House aides are preparing to travel to Singapore this weekend for a crucial meeting with North Korean officials to discuss the agenda and logistics for the summit, U.S. officials said, speaking on condition of anonymity.
The delegation, which includes White House Deputy Chief of Staff Joseph Hagin and deputy national security adviser Mira Ricardel, was being dispatched after Trump said on Tuesday there was a “substantial chance” the summit would be called off amid concerns Pyongyang is not prepared to give up its nuclear arsenal.
Asked on Wednesday whether the summit would go ahead, Trump told reporters: “It could very well happen. Whatever it is, we’ll know next week about Singapore. And if we go, I think it will be a great thing for North Korea.”
But he added: “We’ll see.”
Trump did not say, however, whether the preparatory talks between U.S. and North Korean officials in coming days were expected to clarify the situation.
U.S. Secretary of State Mike Pompeo said on Wednesday the United States is prepared to walk away from nuclear negotiations with North Korea if the summit heads in the wrong direction.
Pompeo said he was “very hopeful” the summit would take place but said the decision was ultimately up to Kim.
Trump raised doubts about the summit in talks on Tuesday with South Korean President Moon Jae-in, who came to Washington to urge Trump not to let a rare opportunity with reclusive North Korea slip away.
It was unclear whether Trump was truly backing away from the summit or whether he was strategically coaxing North Korea to the table after decades of tension on the Korean peninsula and antagonism with Washington over its nuclear weapons program.
The White House was caught off guard when, in a dramatic change of tone, North Korea last week condemned the latest U.S.-South Korean air combat drills, suspended North-South talks and threatened to scrap the summit if Pyongyang was pushed toward “unilateral nuclear abandonment.”
If the summit is called off or fails, it would be a major blow to what Trump supporters hope will be the biggest diplomatic achievement of his presidency.
‘BAD DEAL IS NOT AN OPTION’ Pompeo insisted that the Trump administration was “clear-eyed” about what it faces with North Korea, which has a history of making promises in international negotiations and then backtracking.
“A bad deal is not an option,” Pompeo said in his written opening statement for a House of Representatives Foreign Affairs Committee hearing. “The American people are counting on us to get this right. If the right deal is not on the table, we will respectfully walk away.”
Pompeo, who was director of the CIA before becoming secretary of state in April when Trump fired Rex Tillerson, has met twice with Kim in Pyongyang. On his most recent trip he brought back three Americans who had been held by North Korea.
Pompeo said a U.S.-led sanctions pressure campaign on Pyongyang would not be eased until North Korea gives up nuclear weapons.
“We have made zero concessions to Chairman Kim and have no intention to do so,” Pompeo said.
“Our posture will not change until we see credible steps taken toward the complete, verifiable and irreversible denuclearization of the Korean peninsula,” he said.
Reporting by James Oliphant, Patricia Zengerle and Lesley Wroughton; additional reporting by Matt Spetalnick and John Walcott; Writing by Matt Spetalnick; Editing by Bill Trott and James Dalgleish
| ashraq/financial-news-articles | https://www.reuters.com/article/us-northkorea-usa/trump-says-will-know-next-week-if-north-korea-summit-to-go-ahead-idUSKCN1IO2QZ |
JetBlue Airways Corp:
* JETBLUE ANNOUNCES RETIREMENT OF GENERAL COUNSEL * JETBLUE AIRWAYS CORP - JAMES HNAT, EXECUTIVE VICE PRESIDENT CORPORATE AFFAIRS AND GENERAL COUNSEL, WILL BE RETIRING FROM HIS ROLE EFFECTIVE JUNE 30 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-jetblue-announces-retirement-of-ge/brief-jetblue-announces-retirement-of-general-counsel-idUSASC0A2XY |
CHARLOTTE, N.C., May 15, 2018 /PRNewswire/ -- Sureshot, a B2B marketing technology company, has announced that, effective immediately, three people have joined its leadership team. Chris Williams will serve as President and COO and Nate Pruitt and Patrice Greene have been appointed to Sureshot's Board of Directors.
As President and COO, Williams will be responsible for overseeing all product innovations, as well as executing the company's market strategy and long-term growth plans. Williams has served on Sureshot's Board of Directors for several years and will continue to do so. Pruitt is the founder and CEO of Growth Digital, a web strategy and inbound marketing company, and Greene is the President of Inverta, a B2B marketing consulting firm. Both have deep experience in martech, and will work with other members of Sureshot's board to provide the company with ongoing strategic direction. All three leaders will report directly to Chairman and Chief Executive Officer, David York.
"Sureshot continues to experience tremendous growth, and I am glad we'll have the leadership and expertise of Chris, Nate and Patrice to guide us in achieving future goals. Chris is an invaluable source of wisdom and insight, who has served on our board for several years. And Nate and Patrice have demonstrated track records of leading revenue growth for martech companies. I know I speak for everyone on the leadership team when I say we look forward to the impact these three will have on Sureshot," said York.
About Chris Williams
Williams has more than 20 years of experience developing innovative technology solutions, enhancing global operations, and developing strategies that drive growth and enable technology-based companies to expand to new markets. "Since merging Connexio Labs with Sureshot Media, I have watched David and his team successfully transform Sureshot into a market-leading software company and I am excited to help lead this team as we continue to accelerate our next phase of growth," said Williams.
About Nate Pruitt
Over the last two decades, Pruitt has served as a tech-industry thought-leader, marketing consultant, and highly sought-after expert in generating revenue for Fortune 500 companies and startups alike. A hands-on leader, Pruitt is skilled in identifying a company's unique strengths and equipping their leaders with practical guidance on how to leverage every advantage to dominate the market. "Sureshot's capabilities put it in a unique position to transform marketing operations, and I'm glad to play a role in helping the company fulfill its vision," said Pruitt.
About Patrice Greene
A strategic thinker, Greene has over 15 year of experience guiding the growth and development of marketing companies, utilizing marketing technology to drive revenue, and creating demand for client products and services. "I have followed Sureshot's swift rise in the martech space as a solutions-leader, and have both used and recommended their solutions. It's a company I admire and trust and I am thrilled to contribute to its future," said Greene.
About Sureshot : Sureshot's cloud-based customer-engagement solutions solve marketing operations challenges that impact data management, campaign execution, and the customer lifecycle. Designed to integrate seamlessly with the key platforms of a martech stack, Sureshot solutions empower modern marketers to validate and enrich data, automate and extend cross-channel campaigns, and deliver higher-quality interactions with customers and prospects.
David York
469.919.5779 ext. 403
[email protected]
View original content: http://www.prnewswire.com/news-releases/sureshot-expands-board-of-directors-and-strengthens-leadership-team-300647836.html
SOURCE Sureshot | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/15/pr-newswire-sureshot-expands-board-of-directors-and-strengthens-leadership-team.html |
Focusing TTI-621 clinical development on T-cell lymphoma
TTI-621 received Orphan Drug Designation for the treatment of cutaneous T-cell lymphoma Preclinical data with TTI-622 (SIRPaFc IgG4) presented at AACR; cleared to enter clinical testing in Q2
TORONTO, May 11, 2018 (GLOBE NEWSWIRE) -- Trillium Therapeutics Inc. (NASDAQ:TRIL) (TSX:TRIL), a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer, today reported financial and operating results for the three months ended March 31, 2018.
“Following the initial signals of monotherapy responses reported at ASH last year, we have increasingly focused both our TTI-621 clinical trials on patients with T-cell malignancies throughout the first quarter of 2018,” said Dr. Niclas Stiernholm, president and CEO of Trillium Therapeutics. “We have also been preparing to launch our second clinical CD47 program, TTI-622. Having both an IgG1 and an IgG4 SIRPaFc fusion protein in clinical testing should allow us to address important scientific questions related to the impact of the Fc region in various clinical scenarios, including combination therapy.”
2018 First Quarter Highlights:
Reported refinements to both our phase 1 trials of TTI-621 to focus near-term efforts on patients with cutaneous T-cell lymphoma (CTCL) and peripheral T-cell lymphoma (PTCL). This action builds on the monotherapy results of TTI-621 presented at the American Society of Hematology (ASH) Annual Meeting in December 2017 where weekly infusions of TTI-621 were shown to be well tolerated and intratumoral injection was observed to reduce local lesions in 9 out of 10 patients with mycosis fungoides, a common type of CTCL. The U.S. Food and Drug Administration granted an Orphan Drug Designation to TTI-621 for the treatment of cutaneous T-cell lymphoma. Orphan Drug Designation qualifies the sponsor of the drug candidate for various development incentives, which include an exemption from fees under the Prescription Drug User Fee Act and a seven-year marketing exclusivity period following approval. Presented preclinical TTI-622 data at the 2018 AACR Annual Meeting demonstrating that TTI-622 induces the phagocytosis of a broad panel of tumor cells derived from patients with both hematological and solid tumors. As a monotherapy, TTI-622 treatment resulted in decreased tumor growth and improved survival in a B cell lymphoma xenograft model, as well as enhanced the efficacy of cetuximab (anti-EGFR) and daratumumab (anti-CD38) antibodies in solid and hematological xenograft models, respectively. We expect to enroll the first patient in a Phase 1 clinical trial of TTI-622 in Q2 2018.
First Quarter 2018 Financial Results
As of March 31, 2018, Trillium had cash and cash equivalents and marketable securities, and working capital of $73.9 million and $61.7 million, respectively, compared to $81.8 million and $68.9 million, respectively at December 31, 2017. The decrease in cash and cash equivalents and marketable securities, and working capital was due mainly to cash used in operations of approximately $9.5 million.
Net loss for the three months ended March 31, 2018 of $8.6 million was lower than the loss of $11.5 million for the three months ended March 31, 2017. The net loss was lower due mainly to a net foreign currency gain of $1.6 million for the three months ended March 31, 2018, compared to a net foreign currency loss of $0.4 million in the prior year period. Research and development expenses decreased by $0.9 million in 2018 as a result of lower manufacturing activity for TTI-621 and TTI-622. These decreases were partially offset by higher clinical trial expenses.
Selected Consolidated Financial Information:
Consolidated statements of loss and comprehensive loss
Amounts in thousands of Canadian dollars except per share amounts Three months ended
March 31, 2018 Three months ended
March 31, 2017 Research and development expenses $ 9,341 $ 10,198 General and administrative expenses 1,029 954 Net finance costs (income) (1,807 ) 297 Income tax expense 2 2 Net loss and comprehensive loss for the period 8,565 11,451 Basic and diluted loss per common share 0.65 1.46
Consolidated statements of financial position
Amounts in thousands of Canadian dollars As at
March 31, 2018 As at
December 31, 2017 Cash and marketable securities $ 73,920 $ 81,791 Total assets 86,040 94,403 Total equity 70,658 78,577 About Trillium Therapeutics
Trillium Therapeutics Inc. is a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer. The company’s lead program, TTI-621, is a SIRPaFc fusion protein that consists of the CD47-binding domain of human SIRPa linked to the Fc region of a human immunoglobulin (IgG1). It is designed to act as a soluble decoy receptor, preventing CD47 from delivering its inhibitory (“do not eat”) signal. Neutralization of the inhibitory CD47 signal enables the activation of macrophage anti-tumor effects by pro-phagocytic (“eat”) signals. A Phase 1 clinical trial (NCT02663518) evaluating intravenous dosing of SIRPaFc in patients with advanced cancer is ongoing, and a second Phase 1 trial evaluating direct intratumoral injections is underway in solid tumors and mycosis fungoides (NCT02890368). TTI-621 has recently been granted an Orphan Drug Designation by the FDA for the treatment of cutaneous T-cell lymphoma. TTI-622, an IgG4 SIRPaFc protein which is primarily being developed for combination therapy, is expected to begin clinical testing in 2018. Trillium also has a proprietary medicinal chemistry platform, using unique fluorine chemistry, which permits the creation of new chemical entities from validated drugs and drug candidates with improved pharmacological properties. Stemming from this platform, the company’s most advanced preclinical program is an orally-available epidermal growth factor receptor antagonist with increased uptake and retention in the brain. In addition, a number of compounds directed at undisclosed immuno-oncology targets are currently in the discovery phase.
For more information visit: www.trilliumtherapeutics.com
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable United States securities laws and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements in this press release include statements about, without limitation, Trillium's expected timing of upcoming clinical events. With respect to the forward-looking statements contained in this press release, Trillium has made numerous assumptions regarding, among other things: the effectiveness and timeliness of preclinical and clinical trials; and the completeness, accuracy and usefulness of the data. While Trillium considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Trillium's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. Known risk factors include, among others: positive preliminary results from early-stage clinical trials may not be indicative of the final results from the trial or be indicative of favorable outcomes in later-stage clinical trials and data are subject to audit for inclusion in the final clinical trial database; clinical data may not demonstrate adequate efficacy and safety to result in regulatory approval to market any of our product candidates in any jurisdiction; given the early stage of Trillium’s product development, there can be no assurance that its research and development programs will result in regulatory approval or commercially viable products and that Trillium can adequately demonstrate TTI-621’s individual contribution in a combination therapy; clinical trials may be more costly or take longer to complete than anticipated, and may never be initiated or completed, or may not generate results that warrant future development of the tested drug candidate; Trillium may not receive the necessary regulatory approvals for the clinical development of Trillium's products; economic and market conditions may worsen; and market shifts may require a change in strategic focus.
A more complete discussion of the risks and uncertainties facing Trillium appears in Trillium's Annual Information Form for the year ended December 31, 2017 filed with Canadian securities authorities and available at www.sedar.com and on Form 40-F with the U.S. Securities Exchange Commission and available at www.sec.gov , each as updated by Trillium's continuous disclosure filings, which are available at www.sedar.com and at www.sec.gov . All forward-looking statements herein are qualified in their entirety by this cautionary statement, and Trillium disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Contact:
James Parsons
Chief Financial Officer
Trillium Therapeutics Inc.
416-595-0627 x232
[email protected]
www.trilliumtherapeutics.com
Investor and Media Relations:
Jessica Dyas
Canale Communications for Trillium Therapeutics
619-849-5385
[email protected]
Source:Trillium Therapeutics Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/11/globe-newswire-trillium-therapeutics-reports-first-quarter-2018-financial-and-operating-results.html |
Why isn’t anyone disrupting elegant high heels? That’s what Dolly Singh asked herself as she walked miles across the sprawling campus of spaceflight company SpaceX, where she was the head of talent acquisition, wincing in gorgeous but painful four-inch-high Jimmy Choos.
Women buy $40 million worth of high heels every year around the world, but there’s a problem: The higher the heel and the more stylish the shoe, the more they hurt to wear. Few know this as well as Ms. Singh, a power-wearer and serial buyer of high-priced heels... | ashraq/financial-news-articles | https://www.wsj.com/articles/a-startup-tries-to-make-high-heels-less-painful-1525140060 |
EXTON, Pa., May 29, 2018 (GLOBE NEWSWIRE) -- Fibrocell Science, Inc. (NASDAQ:FCSC), a gene therapy company focused on transformational autologous cell-based therapies for skin and connective tissue diseases, today announced that it has entered into definitive agreements with several institutional investors for the purchase of 2,038,224 shares of its common stock, at a purchase price per share of $2.85, for gross proceeds of approximately $5.8 million, in a registered direct offering priced at-the-market. Additionally, Fibrocell has also agreed to issue to the investors unregistered warrants to purchase up to 1,528,668 shares of common stock, at a purchase price per warrant of $0.125, for gross proceeds of approximately $0.2 million. The closing of the offering is expected to take place on or about May 31, 2018, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The warrants have an exercise price of $2.86 per share of common stock, will be exercisable immediately and will expire five and one-half years from the issuance date.
The gross proceeds to Fibrocell, before deducting placement agent fees and other offering expenses, are expected to be approximately $6.0 million. Fibrocell intends to use the net proceeds from this offering for the continued clinical and pre-clinical development of its product candidates, FCX-007 and FCX-013, and for other general corporate purposes.
The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by Fibrocell pursuant to a "shelf" registration statement on Form S-3 that was filed and declared effective by the Securities and Exchange Commission ("SEC") on February 9, 2016 and the base prospectus contained therein (File No. 333-209077). The offering of the shares of common stock will be made only by means of a prospectus supplement and accompanying base prospectus that form a part of the registration statement.
A prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected] .
The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Fibrocell
Fibrocell is an autologous cell and gene therapy company translating personalized biologics into medical breakthroughs for diseases affecting the skin and connective tissue. Fibrocell’s most advanced product candidate, FCX-007, is the subject of a Phase 1/2 clinical trial for the treatment of recessive dystrophic epidermolysis bullosa. Fibrocell is also developing FCX-013, the Company’s product candidate for the treatment of moderate to severe localized scleroderma. Fibrocell’s gene therapy portfolio is being developed in collaboration with Precigen, Inc., a wholly owned subsidiary of Intrexon Corporation (NYSE: XON), a leader in synthetic biology. For more information, visit http://www.fibrocell.com or follow Fibrocell on Twitter at @Fibrocell .
Trademarks
Fibrocell, the Fibrocell logo and Fibrocell Science are trademarks of Fibrocell Science, Inc. and/or its affiliates. All other names may be trademarks of their respective owners.
Forward-Looking Statements
This press release contains, and Fibrocell’s officers and representatives may from time to time make, statements that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements that are not historical facts are hereby identified as forward-looking statements for this purpose and include, among others, statements relating to the completion, size and use of proceeds of the registered direct offering that involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the registered direct offering and Fibrocell’s ability to achieve the desired effect of increasing the stock price above the $1.00 closing bid price per share minimum for the requisite period so as to regain compliance with the Nasdaq continued listing requirement with respect to the trading price of its common stock.
Forward-looking statements are based upon management’s current expectations and assumptions and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated herein including, among others: the risk that the reverse stock split does not increase Fibrocell’s per share trading price above the minimum amount for the requisite period of time, risks and uncertainties inherent in Fibrocell’s business, and the risks, uncertainties and other factors discussed under the caption “Item 1A. Risk Factors” in Fibrocell’s most recent Form 10-K filing and Form 10-Q filings. As a result, you are cautioned not to place undue reliance on any forward-looking statements. While Fibrocell may update certain forward-looking statements from time to time, Fibrocell specifically disclaims any obligation to do so, whether as a result of new information, future developments or otherwise.
Investor & Media Relations Contact:
Karen Casey
484.713.6133
[email protected]
Source:Fibrocell Science Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/29/globe-newswire-fibrocell-announces-6-point-0-million-registered-direct-offering-priced-at-the-market.html |
NEW YORK--(BUSINESS WIRE)-- The Law Offices of Vincent Wong notifies investors of an investigation concerning whether Molina Healthcare, Inc. (“LendingClub” or the “Company”) (NYSE:MOH) violated federal securities laws.
Click here to learn about the case: http://www.wongesq.com/pslra-c/molina-healthcare-inc . There is no cost or obligation to you.
On April 28, 2016, Molina reported an earnings miss for the first quarter ended March 31, 2016 and reduced its full-year 2016 earnings guidance. On August 2, 2017, Molina withdrew its 2017 earnings projection, reported a net loss of $230 million for the second quarter ended June 30, 2017, and revealed it would exit certain ACA Health Exchange markets.
To learn more about the investigation of Molina Healthcare contact Vincent Wong, Esq. either via email [email protected] , by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-c/molina-healthcare-inc .
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
View source version on businesswire.com : https://www.businesswire.com/news/home/20180504005647/en/
The Law Offices of Vincent Wong
Vincent Wong, Esq.
212.425.1140
[email protected]
Source: The Law Offices of Vincent Wong | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/04/business-wire-moh-shareholder-alert-the-law-offices-of-vincent-wong-notifies-investors-of-an-investigation-involving-possible-securities.html |
Amazon.com Inc. said that one of its Echo home speakers mistakenly recorded a private conversation and sent it to a person in the owners’ contact list, an incident that raises questions about the security of such voice-operated devices.
Confirming a report by a local television station in Seattle, Amazon on Thursday said that the Echo device misunderstood pieces of a conversation as commands, causing it to think it was being instructed to send the message.
... RELATED VIDEO Teach Amazon Echo to Recognize Your Voice Your voice can now be your Alexa password. WSJ's Joanna Stern teaches you how to set up, use—and maybe even trick—Amazon's new voice recognition features. Photo: Heather Seidel/The Wall Street Journal | ashraq/financial-news-articles | https://www.wsj.com/articles/amazon-alexa-powered-device-recorded-and-shared-users-conversation-without-permission-1527203250 |
May 7, 2018 / 1:10 PM / Updated an hour ago Brazilian climbers create mosaic to inspire World Cup team Reuters Staff 1 Min Read
SAO PAULO (Reuters) - A group of 176 Brazilian climbers have abseiled down a bridge in Sao Paulo to form a giant mosaic they hope will inspire their soccer team to World Cup glory this year. Brazilian climbers attempt for the world record of largest mosaic as they form the Brazilian flag with an image of the World Cup trophy at Sumare bridge in Sao Paulo, Brazil May 6, 2018. REUTERS/Paulo Whitaker
The climbers lowered themselves into place to create a cardboard image of the Brazilian flag, an effort they hope will set a record for such a mosaic.
“I hope this will be an incentive for our players, because the Brazilian team has not won a title for a long time,” one of the climbers, Iron Souza, said. “May this serve as an incentive for them to bring a “caneco” (cup) back to our country.” Slideshow (5 Images)
Brazil are the only team to win the World Cup five times but they have not lifted the trophy since 2002.
They are one of the favourites going into the tournament in Russia starting on June 14 and are in Group E along with Switzerland, Costa Rica and Serbia. Reporting by Andrew Downie, editing by Ed Osmond | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-worldcup-bra-record/brazilian-climbers-create-mosaic-to-inspire-world-cup-team-idUKKBN1I81CR |
May 8, 2018 / 12:32 AM / Updated 17 hours ago PGA Tour Volunteers of America North Texas Shootout Scores Reuters Staff 8 Min Read May 8 (OPTA) - Scores from the PGA Tour Volunteers of America North Texas Shootout on Friday -11 Sung Hyun Park (Korea Republic) 65 66 -10 Lindy Duncan (USA) 68 64 -9 Yu Liu (China PR) 67 66 -8 Ariya Jutanugarn (Thailand) 68 66 Sei Young Kim (Korea Republic) 67 67 -7 Aditi Ashok (India) 69 66 Jenny Shin (Korea Republic) 65 70 -6 Lydia Ko (New Zealand) 69 67 Mi-Hyang Lee (Korea Republic) 70 66 Jackie Stoelting (USA) 69 67 Jin Young ko (Korea Republic) 67 69 -5 Boutier Celine (France) 70 67 In Gee Chun (Korea Republic) 67 70 Jacqui Concolino (USA) 70 67 Nicole Broch Larsen (Denmark) 67 70 Brittany Lincicome (USA) 71 66 Mo Martin (USA) 67 70 Jane Park (USA) 67 70 -4 Katie Burnett (USA) 67 71 Minjee Lee (Australia) 68 70 Gaby Lopez (Mexico) 68 70 Benyapa Niphatsophon (Thailand) 70 68 -3 Paula Creamer (USA) 69 70 Brooke Henderson (Canada) 71 68 Katherine Hull-kirk (Australia) 70 69 Moriya Jutanugarn (Thailand) 66 73 Candie Kung (Chinese Taipei) 73 66 Ally McDonald (USA) 70 69 Anna Nordqvist (Sweden) 71 68 Pannarat Thanapolboonyaras (Thailand) 71 68 Ayako Uehara (Japan) 70 69 -2 Laetitia Beck (Israel) 69 71 Cydney Clanton (USA) 73 67 Daniela Darquea (Ecuador) 69 71 Perrine Delacour (USA) 69 71 Jaye Marie Green (USA) 69 71 Tiffany Joh (USA) 70 70 P.K. Kongkraphan (Thailand) 67 73 Olafia Kristinsdottir (Iceland) 66 74 Camilla Lennarth (Sweden) 71 69 Maddie McCrary (USA) 71 69 Su-Hyun Oh (Australia) 68 72 Hee Young Park (Korea Republic) 68 72 Emily K Pedersen (Denmark) 70 70 Mariah Stackhouse (USA) 69 71 -1 Brittany Altomare (USA) 72 69 Laura Davies (England) 69 72 Hannah Green (Australia) 72 69 Wei-Ling Hsu (Chinese Taipei) 72 69 Sherman Santiwiwatthanaphong (USA) 71 70 Katelyn Sepmoree (USA) 71 70 Kelly Shon (Korea Republic) 70 71 Samantha Troyanovich (USA) 73 68 Karrie Webb (Australia) 71 70 Cheyenne Woods (USA) 71 70 Sun-Young Yoo (Korea Republic) 69 72 0 Leticia Ras Anderica (Germany) 75 67 Sandra Changkija (USA) 72 70 Lauren Coughlin (USA) 72 70 Mi Jung Hur (Korea Republic) 67 75 Vicky Hurst (USA) 71 71 Daniela Iacobelli (USA) 69 73 Lauren Kim (USA) 72 70 Amelia Lewis (USA) 70 72 Brittany Marchand (Canada) 71 71 Morgan Pressel (USA) 68 74 Jennifer Song (USA) 72 70 1 Dottie Ardina (Philippines) 73 70 Ashleigh Buhai (South Africa) 72 71 Celine Herbin (France) 73 70 Caroline Inglis (USA) 72 71 Kim Kaufman (USA) 71 72 Joanna Klatten (France) 72 71 Giulia Molinaro (Italy) 74 69 Sophia Popov (Germany) 71 72 Alena Sharp (Canada) 70 73 Thidapa Suwannapura (Thailand) 72 71 Emily Tubert (USA) 71 72 2 Martina Edberg (Sweden) 73 71 Sandra Gal (Germany) 67 77 Mina Harigae (USA) 75 69 Caroline Hedwall (Sweden) 72 72 Daniela Holmqvist (Swaziland) 72 72 Cristie Kerr (USA) 71 73 Brittany Lang (USA) 72 72 Min Lee (Chinese Taipei) 74 70 Nontaya Srisawang (Thailand) 71 73 Pei Yun Chien (Chinese Taipei) 74 70 3 Gemma Dryburgh (Scotland) 71 74 Kendall Dye (USA) 77 68 Julieta Granada (Paraguay) 74 71 Karine Icher (France) 75 70 Mirim Lee (Korea Republic) 74 71 Kristy McPherson (USA) 73 72 Becky Morgan (Wales) 72 73 Sarah Jane Smith (Australia) 72 73 Luna Sobron (Spain) 71 74 Angela Stanford (USA) 72 73 4 Rebecca Artis (Australia) 72 74 Danah Bordner (USA) 74 72 Anne Catherine Tanguay (Canada) 71 75 Allison Emrey (USA) 74 72 Juli Inkster (USA) 74 72 Chirapat Jao-Javanil (Thailand) 75 71 Jimin Kang (Korea Republic) 74 72 Ilhee Lee (Korea Republic) 75 71 Paula Reto (South Africa) 74 72 Yani Tseng (Chinese Taipei) 73 73 Xi Yu Lin (China PR) 71 75 5 Harang Lee (Spain) 75 72 Stacy Lewis (USA) 74 73 Wichanee Meechai (Thailand) 70 77 Katherine Perry (USA) 76 71 Alison Walshe (USA) 69 78 6 Cindy Lacrosse (USA) 75 73 Maria Torres (Puerto Rico) 75 73 7 Beth Allen (USA) 77 72 Hannah Arnold (USA) 74 75 Brianna Do (Vietnam) 74 75 Natalie Gulbis (USA) 77 72 Maria Hernandez (Spain) 74 75 Christina Kim (USA) 75 74 Mind Muangkhumsakul (Thailand) 74 75 8 Dori Carter (USA) 75 75 Holly Clyburn (British Virgin Islands) 75 75 Megan Khang (USA) 73 77 Lee Lopez (USA) 78 72 9 Brittany Benvenuto (USA) 74 77 Jennifer Hahn (USA) 73 78 Jessy Tang (USA) 74 77 10 Annie Park (Korea Republic) 73 79 11 Lorie Kane (Canada) 80 73 Madeleine Sheils (USA) 73 80 Meagan Winans (USA) 79 74 Jing Yan (China PR) 77 76 12 Clark Annika (USA) 76 78 Nannette Hill (USA) 77 77 Alexandra Newell (USA) 74 80 Kennedy Pedigo (USA) 75 79 Kassidy Teare (USA) 76 78 15 Alison Lee (USA) 79 78 18 Stephanie Louden (USA) 85 75 | ashraq/financial-news-articles | https://in.reuters.com/article/golf-pga-scores/pga-tour-volunteers-of-america-north-texas-shootout-scores-idINMTZXEE58DW2AV7 |
PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)-- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on June 15, 2018. The dividend will be paid out on or about July 2, 2018. Randy C. Bowers, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 3.32% annualized yield based on our most recent closing price of $30.10. Increased earnings and our strong capital position allow us to continue to reward our shareholders for their investment.”
Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles. For over ten years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded their premier Top 5-Star rating for the 41 st consecutive quarter as of December 2017. Since 1985 Malaga has been delivering competitive banking services to residents and businesses of the South Bay, including real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank’s web site is located at www.malagabank.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180525005563/en/
Randy Bowers
President and Chief Executive Officer
Malaga Financial Corporation
(310) 375-9000
[email protected]
Source: Malaga Financial Corporation | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/25/business-wire-malaga-financial-corporation-announces-56th-consecutive-quarterly-cash-dividend.html |
Daseke Inc:
* DASEKE INC - ANNOUNCED FORMATION OF DASEKE FLEET SERVICES
* DASEKE - DASEKE FLEET SERVICES WILL BE BASED IN PHOENIX Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-daseke-inc-announced-formation-of/brief-daseke-inc-announced-formation-of-daseke-fleet-services-idUSFWN1SL0MJ |
May 20, 2018 / 11:44 PM / Updated 3 hours ago Global stocks, dollar climb amid U.S.-China trade truce Laila Kearney 4 Min Read
NEW YORK (Reuters) - Global stock markets climbed on Monday, and the U.S. dollar rallied to a five-month peak while the Japanese yen weakened after the United States and China agreed to halt a trade war between the two countries.
U.S. Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China “on hold” after the two countries agreed to drop their tariff threats in favor of hashing out a broader deal.
The trade truce encouraged investors on Wall Street, sending up equity indexes that were also buoyed by news of $28 billion in U.S. merger deals.
The Dow Jones Industrial Average .DJI rose 314.5 points, or 1.27 percent, to 25,029.59, the S&P 500 .SPX gained 21.53 points, or 0.79 percent, to 2,734.5 and the Nasdaq Composite .IXIC added 41.26 points, or 0.56 percent, to 7,395.60.
The small-cap Russell 2000 index hit a record high for a fourth straight session.
Investors were also encouraged across the world, with MSCI's broad index of world equity markets .MIWD PUS gaining 0.50 percent. The pan-European FTSEurofirst 300 index .FTEU3 rose 0.26 percent.
In the short term, analysts said they expect stocks to continue to trend higher barring a major negative event.
“This is an indication of what we’ll see near term, because we are through earnings, relatively light on macro data, and with geopolitics, it seems like some of the emotion has been reduced between now and the Korean summit,” said Gordon Charlop, managing director at Rosenblatt Securities in New York.
The U.S.-China trade news also boosted the U.S. dollar to a five-month high as investors further pared back short positions on the greenback. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid
The dollar index .DXY rose 0.05 percent, with the euro EUR= down 0.03 percent to $1.1771.
The Japanese yen weakened 0.29 percent versus the greenback to 111.09 per dollar, while sterling GBP= was last trading at $1.3413, down 0.43 percent on the day.
The yen was pressured by recent weaker Japanese data, the U.S.-China trade war easing and elevated U.S. Treasury yields, analysts said.
The euro has suffered amid concerns about political uncertainty in Italy.
Italy’s far-right League and the 5-Star Movement agreed on a candidate to lead their planned coalition government and to implement spending plans seen by some investors as threatening the sustainability of the country’s debt pile.
Italy’s 10-year bond yield IT10YT=RR rose to its highest since April 2017 before easing back.
Oil prices reversed course from choppier early trading and climbed on Iran and Venezuela concerns.
U.S. crude CLcv1 rose 1.36 percent to $72.25 per barrel and Brent LCOcv1 was last at $79.16, up 0.83 percent on the day.
Expectations that U.S. sanctions on Iran could curb the country’s crude exports have led crude prices higher in recent weeks, and the market is now weighing the possibility of additional sanctions on Venezuela following its presidential election. Additional reporting by Julien Ponthus in London, Medha Singh and Gertrude Chavez-Dreyfuss in New York; Editing by Bernadette Baum | ashraq/financial-news-articles | https://uk.reuters.com/article/us-global-markets/u-s-stock-futures-jump-after-mnuchin-says-trade-war-on-hold-idUKKCN1IL0XT |
VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) -- Trainerize , the leading personal training software, announces the official launch of Trainerize Pay : a brand new feature designed to let fitness professionals automate their entire business from program creation, through online marketing, all the way to program delivery and final sale.
Trainerize Pay isn’t just a payment processing tool, it’s a fully integrated automation engine that saves fitness professionals valuable time and effort and takes clients and members from ready to buy to ready to train faster than ever before.
It works by allowing fitness professionals and businesses to build online training programs and seamlessly convert them into digital products they can easily market and sell virtually anywhere online using shareable and embeddable links. Then, when a client makes a purchase, Trainerize Pay and its automation features jump into action, walking the client through the account setup process, building their profile, collecting their payment, and delivering their purchased product straight to their phone. All of this happens in minutes, making Trainerize Pay the most seamless experience on the market when it comes to both buying and selling online training.
“We know from our customers that one of the biggest challenges when it comes to running an efficient fitness business is client setup and program delivery,” said Trainerize CEO, Sharad Mohan on the recent release of Trainerize Pay. “We also know that happy clubs and trainers start with happy members and clients. So, we built Trainerize Pay with that in mind, where, if I’m a client and I make the decision to step up and buy personal training services, the moment I pay I get an app in my hands, already loaded with content that’s immediately useful and customized to me. As a client, I can start living a better life, literally, now .”
The response to Trainerize Pay, released in BETA last year, has already been overwhelmingly positive, with its all-in-one-place approach and flexible payment options ranking high among the reasons fitness professionals love it. Tim Hennigan, owner of Portland-based fitness studio, The Body Shop, had this to say on Trainerize Pay:
“Before Trainerize Pay, I was using a couple different platforms to get my clients set up with training programs and payments—and there was a lot of time-consuming admin work that went along with that. Now that I can do it all through Trainerize, I'm saving valuable time and I can get clients set up and training in only a few minutes. It's like, with a click of a mouse, my business is on autopilot. Trainerize Pay has really made it simple for me to keep my system organized and give my clients an amazing experience from the word "go". The best part is that the time I don’t have to spend monkeying with payments or client setup allows me to spend more time focusing on the most important part of my business, the people I work with.”
To receive additional information about Trainerize or request a software demo, visit www.trainerize.com . You can also follow Trainerize on Facebook and Twitter to keep up with future company updates.
About Trainerize:
In this digital age, working out is no longer connected to a physical space. Trainerize is an online personal training software that empowers fitness professionals and fitness studios worldwide to reach, engage, and motivate people, to change their lives for the better. Trainerize is making fitness more accessible by connecting more people to fitness professionals who can help them workout, eat better, and improve their habits. By combining online workout and nutrition tracking, meal planning, client communication, and access to the world’s best fitness add-ons, Trainerize allows fitness professionals to focus on what they love to do most: train and motivate their clients.
Media Contact
Laura Dunlop
Content Marketing Manager, Trainerize
778.953.2489
[email protected]
Source: Trainerize | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/globe-newswire-introducing-trainerize-pay-taking-clients-from-ready-to-buy-to-ready-to-train-in-seconds.html |
May 18, 2018 / 3:08 PM / Updated 15 minutes ago Golar's Cameroon LNG project ships first cargo: sources, data Reuters Staff 2 Min Read
LONDON (Reuters) - * A first-of-its-kind liquefied natural gas (LNG) plant developed by Golar LNG off Cameroon has exported its inaugural cargo, according to trade sources and shipping data
* Successful start-up is a crucial test for Golar, which aims to roll out similar plants in Equatorial Guinea with Ophir Energy and in Senegal-Mauritania with BP
* The first shipment was exported by Gazprom Marketing and Trading (GMT) - which bought the entire output of the Cameroon project for eight years - using the Galicia Spirit tanker on Thursday, shipping data shows
* First LNG was initially due in the second half of last year before being pushed back to late April this year
* In early May the tanker docked and filled up with 38,000 cubic meters of LNG, before taking another 100,000 cubic meters on May 14, according to market intelligence firm Kpler
* GMT said it had chartered two LNG vessels to haul supply from the plant
* The Golar Maria tanker is converging on Cameroon to load the plant’s second cargo, according to trade sources and shipping data. Reporting by Oleg Vukmanovic; Editing by Dale Hudson | ashraq/financial-news-articles | https://www.reuters.com/article/us-golar-lng-cameroon-lng/golars-cameroon-lng-project-ships-first-cargo-sources-data-idUSKCN1IJ1ZU |
May 7, 2018 / 10:11 AM / Updated 7 hours ago Cricket: Opener Rahul wants to score big and not just fast Reuters Staff 2 Min Read
MUMBAI (Reuters) - India opener Lokesh Rahul has often faced criticism for failing to convert solid scores into big totals and the 26-year-old is no longer happy to just provide his Kings XI Punjab franchise with explosive starts in the Indian Premier League (IPL).
In the early part of his test career, the stylish right-handed batsman scored four hundreds with just one half-century but since his 199 against England at the end of 2016, Rahul has scored nine more fifties without adding another ton.
The opener has provided Punjab with plenty of early quick runs but showed immense maturity on Sunday to remain unbeaten on 84 from 54 deliveries to lead his side to a six-wicket victory over the Rajasthan Royals.
"I want to get as many runs as I can in the powerplay," Rahul told the IPL website www.iplt20.com . "(However,) I think I haven't converted those starts into big runs for the team; as an opening batsman that's what is crucial.
“If you get off to a good start, even if you get the run-rate down a bit in the middle overs, if you are set till the end you can do the most damage.”
During Sunday’s innings, Rahul scored 18 off 15 balls during the powerplay and then 48 off 43 before he shifted gears effortlessly to lead Punjab to a win after two straight losses.
Rahul took 44 balls to get to his fifty — the slowest in his IPL career — but it ended up being his highest score in the Twenty20 tournament.
The win took Punjab to third in the table on six wins from nine matches and firmly in position for one of the four playoff spots.
“Those were the things I was thinking about sitting back at home,” Rahul said, referring to the break he had between Punjab’s seventh and eighth fixtures.
“I wanted to come here with a fresher approach and try to win as many games as I can. (I wanted to) try to bat deep in the innings and that was the plan and I am very happy that it paid off today.” Reporting by Sudipto Ganguly; Editing by John O'Brien | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-india-ipl-rahul/cricket-opener-rahul-wants-to-score-big-and-not-just-fast-idINKBN1I80XE |
WASHINGTON, May 22 (Reuters) - The U.S. House of Representatives passed on Tuesday legislation that would ease bank rules introduced in the wake of the 2007-2009 financial crisis, clearing the bill to be signed into law by President Donald Trump.
Tuesday’s vote to reform the 2010 Dodd-Frank reform law marks a major bipartisan legislative victory for Trump’s administration, which has promised to spur more economic growth by rolling back regulation. (Reporting by Pete Schroeder; Editing by Lisa Shumaker)
| ashraq/financial-news-articles | https://www.reuters.com/article/usa-house-banks/trump-set-to-sign-bill-easing-post-crisis-bank-rules-after-u-s-house-passage-idUSL2N1ST1FJ |
Air France-KLM CEO Jean-Marc Janaillac said on Friday he would resign after staff rejected a pay deal, plunging the airline into turmoil amid a wave of strikes at its French brand that has cost the company $359 million.
Janaillac said that more than half of the staff at Air France who cast a ballot voted against the offer of a 7 percent increase over four years. Turnout was high at 80.33 percent.
"I take responsibility for the consequences of this vote and will in the coming days tender my resignation to the boards of Air France and Air France-KLM," Janaillac told a news conference.
"I hope that my departure will spark a more acute collective awareness," he added.
Unions announced they would maintain their strike action on May 7 and May 8.
Air France-KLM earlier on Friday reined in its 2018 profit and growth expectations, partly due to the effects of the strikes, and said it wasn't able to take advantage of a good market environment for European carriers.
Air France needs to cut costs to keep up with leaner rivals in Europe. Dutch sister company KLM, which has cut costs, saw its profits rise in the first quarter, contrasting sharply with losses at Air France.
Flag-carrying rivals British Airways and Lufthansa have already undergone painful cost-cutting in recent years as they battled to compete with the rise of low-cost carriers in Europe and new competition from Gulf carriers.
Air France has lagged behind, with unions hampering efforts.
In a high-stakes move, Janaillac said before the vote that it would be hard for him to stay in the role if the unions pushed back against the salary hike offer.
He was backed by the French government, Air France-KLM's top shareholder, which has said the dispute is damaging the company. There was no immediate reaction by the French presidency or finance ministry.
Janaillac was appointed CEO of Air France-KLM in June 2016 after his predecessor failed to reform the airline in the face of union resistance.
Liberum analyst Gerald Khoo said ahead of the vote result that a rejection of the offer would suggest that Air France was incapable of being reformed.
"Losing two consecutive CEOs who have taken significantly different approaches to the unions would imply the business is unmanageable," Khoo said. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/04/air-france-klm-ceo-to-resign-after-employees-reject-salary-package.html |
TaskUs bolsters senior leadership in preparation for another year of exponential growth and global expansion
LOS ANGELES--(BUSINESS WIRE)-- TaskUs , the leading customer support solutions provider for high-growth tech and legacy companies seeking digital transformation, announced it has expanded its C-Suite, appointing Joe Buggy to Chief Operating Officer. Buggy is the company’s first COO and will play a pivotal role in the next phase of TaskUs’ growth.
“Joe shares our value of continuous self-improvement which, combined with his 30 years of experience in customer service, makes him a rockstar in our industry,” said CEO Bryce Maddock. “He brings leadership and invaluable perspective to the operational efficiency needed for a global workforce of 10,000 as we continue to grow into new markets.”
As COO of TaskUs, Buggy brings 30 plus years of leadership excellence from senior-level roles in client services, consulting, technology and customer experience (CX)/back office operations. He co-authored a paper on Customer Journey Mapping published by Frost & Sullivan and has been recognized by Bain & Company in Net Promoter Score, which measures the quality of the relationship between a provider and a consumer. He is a Six Sigma Black Belt and has chaired the BPO subcommittee tasked with the development of the stringent best practices criteria for the prestigious J.D. Power “Excellence in Service & Support” industry award.
Buggy has a Bachelor of Engineering in Mechanical Engineering from Villanova University and an MBA from the Alfred Lerner College of Business & Economics, University of Delaware. He also completed the Executive Management Program at Fuqua School of Business, Duke University.
About TaskUs
TaskUs provides next generation customer experience that powers the world's most disruptive companies through the partnership of amazing people and innovative technology.
We provide Ridiculously Good strategy and business process outsourcing utilizing revolutionary technology and the best talent to deliver transformational, digital scale. To find out more visit www.TaskUs.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180524005262/en/
for TaskUs
Trish McCall, 310-824-9000
[email protected]
Source: TaskUs | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/24/business-wire-taskus-taps-industry-veteran-as-coo.html |
North Island's Glenn Hutchins on media mergers 1 Hour Ago Glenn Hutchins, North Island chairman, weighs in on media merger activity involving AT&T and Time Warner. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/09/north-islands-glenn-hutchins-on-media-mergers.html |
MOSCOW (Reuters) - Russian President Vladimir Putin said on Friday that European countries should help Syria rebuild if they want refugees to return to the country.
Russian President Vladimir Putin welcomes Syrian President Bashar al-Assad during their meeting in the Black Sea resort of Sochi, Russia May 17, 2018. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS Speaking alongside German Chancellor Angela Merkel in the southern Russia city of Sochi, Putin called for the reconstruction of Syria to be depoliticised.
Russia has challenged the EU’s stance that the West would only focus on humanitarian assistance but provide no money for Syria’s reconstruction as long as President Bashar al-Assad fails to share power with the opposition.
Reporting by Denis Pinchuk; Writing by Gabrielle Tétrault-Farber; Editing by Jon Boyle
| ashraq/financial-news-articles | https://www.reuters.com/article/us-russia-germany-putin-merkel-syria/russias-putin-says-europe-should-leave-politics-out-of-syria-reconstruction-idUSKCN1IJ1SN |
RUSTON, La., May 10, 2018 (GLOBE NEWSWIRE) -- Origin Bancorp, Inc. (“Origin”), the financial holding company for Origin Bank, today announced the closing of its initial public offering of its common stock at a public offering price of $34.00 per share. Origin’s common stock began trading on the Nasdaq Global Select Market under the trading symbol “OBNK” on Wednesday, May 9, 2018.
In connection with the initial public offering, on May 9, 2018, the underwriters exercised, in full, their option to purchase additional shares of Origin’s common stock at the public offering price less the underwriting discount. A total of 4,181,602 shares of Origin’s common stock were sold in the initial public offering, of which Origin sold 3,045,426 (including shares sold by the underwriters’ option) and certain selling stockholders sold 1,136,176 shares of Origin common stock.
Stephens Inc. and Raymond James & Associates, Inc. acted as joint bookrunners for the offering. Keefe, Bruyette & Woods, a Stifel Company , and Sandler O’Neill + Partners, L.P. acted as co-managers.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 8, 2018. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained by contacting Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attention: Syndicate, or by calling toll free (800) 643-9691 or by email at [email protected] ; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, by calling toll free (800) 248-8863, or by email at [email protected] . Copies of the registration statement relating to these securities and the prospectus may also be obtained free of charge from the website of the SEC at http://www.sec.gov .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Origin Bancorp, Inc.
Origin is a financial holding company for Origin Bank, headquartered in Ruston, Louisiana, which provides a broad range of financial services to small and medium-sized businesses, municipalities, high net-worth individuals and retail clients from 41 banking centers located from Dallas/Fort Worth, Texas across North Louisiana to Central Mississippi, as well as in Houston, Texas. As of December 31, 2017, Origin had total assets of $4.15 billion, total loans of $3.31 billion, total deposits of $3.51 billion and total stockholders’ equity, including ESOP-owned shares, of $455.3 million.
Contact Information Investor Relations Media Contact Chris Reigelman Ryan Kilpatrick 318-497-3177 318-232-7472 [email protected] [email protected]
Source:Origin Bancorp, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-origin-bancorp-inc-announces-closing-of-initial-public-offering-of-common-stock.html |
Takeda global ambitions grow after Shire takeover 5:17pm BST - 01:25
Takeda Pharmaceutical hopes that their $62 billion deal to purchase Shire will make them a global bio-pharmaceutical leader. But as Silvia Antonioli reports, it comes with a heavy debt burden.
Takeda Pharmaceutical hopes that their $62 billion deal to purchase Shire will make them a global bio-pharmaceutical leader. But as Silvia Antonioli reports, it comes with a heavy debt burden. //reut.rs/2KNJZKj | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/09/takeda-global-ambitions-grow-after-shire?videoId=425297014 |
Job openings hit a fresh record in March, further defying opinion that the labor market is tightening and near full.
The level hit 6.6 million, according to the Job Openings and Labor Turnover Survey released Tuesday. Even though JOLTS figures lag a month, they are closely watched for signs of market slack. Job openings in total rose by 472,000 over February.
Openings jumped in professional and business services, which added 112,000 positions, as well as construction, with 68,000 and transportation, warehousing and utilities, which reported 37,000 new positions.
The openings happened during a month when nonfarm payroll hiring grew by 135,000, according to the Bureau of Labor Statistics, which releases both the monthly jobs report and the JOLTS survey.
Quits, an important indicator for whether workers feel comfortable leaving old jobs for new ones, rose to 3.34 million, up 136,000 from February. Gains were spread across geographic regions, with the South reporting 1.41 million.
Hires actually edged lower, to 5.42 million from 5.51 million. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/08/job-openings-hit-new-record-high-of-6-point-6-million.html |
DUBLIN, May 3, 2018 /PRNewswire/ -- Perrigo Company plc (NYSE; TASE: PRGO) today announced that its Board of Directors declared a quarterly dividend of $0.19 per share, payable on June 19, 2018 to shareholders of record on June 1, 2018.
About Perrigo
Perrigo Company plc, a leading global healthcare company, delivers value to its customers and consumers by providing Quality Affordable Healthcare Products ® . Founded in 1887 as a packager of home remedies, Perrigo has built a unique business model that is best described as the convergence of a fast-moving consumer goods company, a high-quality pharmaceutical manufacturing organization and a world-class supply chain network. Perrigo is one of the world's largest manufacturers of over-the-counter ("OTC") healthcare products and suppliers of infant formulas for the store brand market. The Company also is a leading provider of branded OTC products throughout Europe and the U.S., as well as a leading producer of "extended topical" prescription drugs. Perrigo, headquartered in Ireland, sells its products primarily in North America and Europe, as well as in other markets, including Australia, Israel and China. Visit Perrigo online at ( http://www.perrigo.com ).
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements." These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "forecast," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including: the timing, amount and cost of any share repurchases; future impairment charges; the success of management transition; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; potential third-party claims and litigation, including litigation relating to the Company's restatement of previously-filed financial information; potential impacts of ongoing or future government investigations and regulatory initiatives; resolution of uncertain tax positions; the impact of U.S. tax reform legislation and healthcare policy; general economic conditions; fluctuations in currency exchange rates and interest rates; the consummation of announced acquisitions or dispositions and the success of such transactions, and the Company's ability to realize the desired benefits thereof; and the Company's ability to execute and achieve the desired benefits of announced cost-reduction efforts and other initiatives. In addition, the Company may be unable to remediate one or more previously identified material weaknesses in its internal control over financial reporting. Furthermore, the Company may incur additional tax liabilities in respect of 2016 or be found to have breached certain provisions of Irish company law in connection with the Company's restatement of previously filed financial statements, which may result in additional expenses and penalties. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2017, as well as the Company's subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content with multimedia: http://www.prnewswire.com/news-releases/perrigo-announces-quarterly-dividend-300642091.html
SOURCE Perrigo Company plc | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/pr-newswire-perrigo-announces-quarterly-dividend.html |
May 8, 2018 / 2:00 PM / in 17 minutes BRIEF-Patriot National Receives Court Approval For Reorganization Plan Reuters Staff
May 8 (Reuters) - Patriot National Inc:
* PATRIOT NATIONAL RECEIVES COURT APPROVAL FOR REORGANIZATION PLAN
* PATRIOT NATIONAL INC - EXPECTS TO EMERGE FROM CHAPTER 11 IN Q2 OF 2018. Source text for Eikon: Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-patriot-national-receives-court-ap/brief-patriot-national-receives-court-approval-for-reorganization-plan-idUSASC0A0IT |
UPDATE 4-Petrobras slashes diesel prices to ease Brazil trucker protest Alexandra Alper and Maria Carolina Marcello Published 14 Hours Ago
* Diesel price cut by 10 pct, frozen for 15 days
* Petrobras CEO denies government interference
* New York-listed shares down 7.5 pct after close (Adds lower house vote on plan to resolve strike, paragraphs 9-10)
RIO DE JANEIRO/BRASILIA, May 23 (Reuters) - Brazil's state-led oil company Petrobras on Wednesday temporarily cut diesel prices by 10 percent in order to help the government and truck drivers resolve a protest crippling highways.
The surprise decision, aimed at resolving a standoff threatening grains exports, industrial output and even fuel supply at airports and gas stations, will bring immediate relief for angry truckers but raise investor concerns about government interference at Petroleo Brasileiro SA.
New York-listed shares of Petrobras fell as much as 7.5 percent in after-market trading, after closing 3.8 percent lower on Wednesday.
Petrobras Chief Executive Officer Pedro Parente said the price cut, which will only remain in place for 15 days and cost the company about 350 million reais ($96 million), had not been demanded by the government.
"The independence of Petrobras has not been damaged," Parente said at a news conference explaining the decision. "It was an exceptional measure and does not represent a change to our pricing policy."
Near-daily price adjustments at Petrobras have let the company track global prices and turn a profit on fuel sales after losing money for years at the government's insistence part of a turnaround that lifted shares nearly 90 percent since the pricing policy started last July.
While Petrobras' price cut brings momentary relief to truckers, policymakers struggled to reach a more lasting accord during talks with the drivers' representatives in Brasilia, who threatened to extend their protests into a fourth day.
A group representing the truckers did not immediately respond to requests for comment on the price cut.
Late on Wednesday, Brazil's lower house of Congress approved the main text of a bill aimed at resolving the protest, with the measure now passing to the Senate. In addition to eliminating the CIDE tax on diesel, it cut the PIS/Cofins tax on the fuel to zero.
Before the bill's passage, congressman and rapporteur for the bill, Orlando Silva, said it would reduce the final cost of diesel by 14 percent.
Earlier in the day, the government and truckers groups met at the office of Eliseu Padilha, President Michel Temer's chief of staff, but failed to reach an accord after the government did not present a plan to reduce diesel costs, a spokesman for ABCAM, which represents the protesters, told reporters after the meeting.
Padilha, calling the meeting tense but fruitful, said there would be another meeting on Thursday. He said lost tax revenue would be offset with additional payroll taxes.
It was the first such meeting between the government and truckers since they began partially blocking roads in several states on Monday to protest surging diesel prices.
Temer had called for "a type of truce for two or three days at most for us to find a satisfactory solution for Brazilians and for the truckers."
However, ABCAM said the strike would continue.
SOY EXPORTS AT RISK
Brazil is a key global supplier of grains, meat, coffee and sugar, most of which reach ports by road.
Concerns that the protest could halt shipments of Brazil's record soy crop have contributed to the steepest rally in soy futures in 10 months in Chicago trading, with prices up 4.5 percent in four consecutive days of increases.
Oilseed trade group Abiove said some soybean crushers were suspending operations due to the protest. Sugarcane industry group Unica said certain mills had reduced harvesting work due to short fuel supplies.
Meat processor Marfrig Global Foods SA said on Wednesday some of its plants are reducing or suspending output due to lack of deliveries during the protest.
State airport operator Infraero suggested that passengers check with airlines on the status of their flights and warned carriers to check that there is enough jet fuel to refuel planes at airports before clearing flights.
According to Petrobras, state and federal taxes make up 29 percent of the final price of diesel paid by consumers. The average retail price of diesel is now 3.595 reais per liter.
Padilha said policymakers had already determined how to offset the elimination of the CIDE fuel tax, which represents about 1 percent of diesel costs. However, he said congressional leaders still had to find about 12.5 billion reais ($3.5 billion) in new revenue in order to halve for six months the PIS/Cofins tax, which makes up about 10 percent of diesel costs.
He said the Finance Ministry would also discuss with states a possible reduction of the ICMS state tax burden on diesel.
($1 = 3.63 reais) (Reporting by Alexandra Alper and Rodrigo Viga Gaier in Rio de Janeiro, Maria Carolina Marcello, Lisandra Paraguassu and Mateus Maia in Brasilia, Pedro Fonseca in Rio de Janeiro, Alberto Alerigi and Roberto Samora in Sao Paulo, and Karl Plume in Chicago; Writing by Ana Mano and Jake Spring; Editing by Diane Craft and Grant McCool) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/23/reuters-america-update-4-petrobras-slashes-diesel-prices-to-ease-brazil-trucker-protest.html |
I think the US market looks great: Savita Subramanian 3 Hours Ago Savita Subramanian of Bank of America Merrill Lynch discusses why she believes the United States is a bright spot for investors. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/29/i-think-the-us-market-looks-great-savita-subramanian.html |
May 2, 2018 / 9:25 AM / Updated 9 hours ago Queen meets Prince Louis, her sixth great-grandchild Reuters Staff 1 Britain’s Queen Elizabeth flew in by helicopter to London to meet Prince Louis, fifth-in-line to the British throne and the latest member of Britain’s royal family. FILE PHOTO: Prince Louis of Cambridge, Louis Arthur Charles, son of Britain's Catherine, the Duchess of Cambridge and Prince William, is carried from the Lindo Wing of St Mary's Hospital in London, April 23, 2018. REUTERS/Henry Nicholls/File Photo
Prince Louis, the third child of Prince William and his wife Kate, was born on April 23.
On Tuesday, the queen, 92, arrived at Kensington Palace, William and Kate’s London home, from Windsor Castle to the west of London, where her 96-year-old husband is recuperating after a hip operation.
Earlier William and Kate formally registered the birth of Louis, who joins brother George, 4, and sister Charlotte, 2. Reporting by Guy Faulconbridge; editing by Michael Holden | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-britain-royals-queen/queen-elizabeth-meets-prince-louis-her-sixth-great-grandchild-idUKKBN1I312U |
May 25, 2018 / 7:29 AM / Updated 24 minutes ago French PM offers debt relief for railway shakeup Simon Carraud , Brian Love 3 Min Read
PARIS (Reuters) - The French government, seeking to end a rail strike over one of President Emmanuel Macron’s flagship reforms, said on Friday it would erase most of the SNCF rail company’s debt if plans to make the operator more cost-effective were implemented. The logo of SNCF is pictured on a train arriving at the French state-owned railway company SNCF station in Bordeaux, France, March 13, 2018. REUTERS/Regis Duvignau
It remains to be seen whether unions will back the offer made by Prime Minister Edouard Philippe. A vote is expected in the coming weeks.
If the offer is rejected and the strike continues, it will underscore the deep resentment that persists among more left-wing unions against Macron’s ambitious agenda.
The 40-year-old, who liberalised French coach bus travel and Sunday trading in a former post as a minister, has eased labour protections since taking office a year ago. He has also scrapped a wealth tax, saying the move was needed to spur growth, earning the moniker “president of the rich”.
Laying out the government’s offer, Philippe said the state would absorb 35 billion euros of the SNCF’s total 47 billion euros ($55 billion) debt pile mostly generated by investment in the much-admired TGV high-speed train network.
“This will relieve the SNCF of most of its debt and give it the financial room for manoeuvre it needs for the future,” the prime minister said.
It involves wiping 25 billion from SNCF books in 2020 and another 10 billion in 2022. That would ease the load on the railways, but only by moving it to an area of state liabilities that still has to be footed by the taxpayer. FILE PHOTO: A logo is seen on a TGV high-speed train at Montparnasse railway station during a nationwide strike by French SNCF railway workers in Paris, France, April 29, 2018. REUTERS/Christian Hartmann/File Photo
The offer goes some way towards the demands of more moderate unions involved in a strike that has reduced trains services by about 50 percent for much of the past two months.
The moderates, primarily the CFDT and Unsa unions, welcomed the concession, saying it showed it was worth negotiating.
The CGT, another influential union but one which is opposed to EU-wide liberalisation in principle, said it saw no reason for now to call off a strike that began in early April.
“The conflict goes on,” said CGT rail union boss Laurent Brun.
The reform, the biggest since nationalisation in 1937, seeks to reduce costs and end hiring of rail staff - currently 150,000 - on more protective contracts than other sectors. SNCF management has to find 30 percent cuts in operating costs.
Opinion polls show a majority of voters back a reform which Macron says is key to SNCF survival when EU-wide liberalisation ends its monopoly of domestic passenger rail from end-2020.
An adviser to Macron said on Friday that taking on the SNCF debt, which is bigger than France’s annual defence budget, would raise public sector debt but not undo a commitment to keep the deficit within the EU-agreed ceiling of 3 percent of GDP. Reporting by Jean-Baptiste Vey; Writing by Brian Love, Editing by Ingrid Melander and Alison Williams | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-france-reform/french-pm-offers-35-billion-euros-of-sncf-debt-relief-union-idUKKCN1IQ0R0 |
House Minority Leader Nancy Pelosi has no current interest in pushing for President Donald Trump 's impeachment, calling it a "distraction" from economic issues her party wants to highlight ahead of the 2018 midterm elections.
"Unless you have bipartisan consensus, impeachment is a divisive issue in the country," the California Democrat said Tuesday at an event hosted by Politico. "Many people would think it's being done for political reasons."
House Democrats from heavily blue districts such as Reps. Maxine Waters of California and Al Green of Texas have called to remove the president from office. But leaders such as Pelosi have shied from the issue, saying that calling for Trump's impeachment could alienate voters in swing districts the party needs to win if it has a chance of winning a House majority in November.
On Tuesday, Pelosi said members can discuss impeachment in their districts. She argued, though, that it's "not the path that [the party] should go on" as Democrats try to resonate with voters about "financial stability" and how GOP policies affect them.
Democrats hope to mobilize opposition to GOP health-care and tax policies this year. They argue the Republican tax plan passed in December — the GOP's signature achievement on which it is running this year — helped corporations and wealthy people significantly more than the working class.
Democrats hope to win 23 GOP-held seats in November to take a House majority. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/08/nancy-pelosi-shrugs-off-trump-impeachment-ahead-of-midterm-elections.html |
May 23, 2018 / 5:12 AM / Updated 43 minutes ago Malaysia's Mahathir widens graft crackdown, seeks to cut national debt Joseph Sipalan 4 Min Read
KUALA LUMPUR (Reuters) - Ninety-two-year-old Malaysian Prime Minister Mahathir Mohamad held his first cabinet meeting on Wednesday as officials widen a probe into corruption linked to the previous government with raids on sites linked to the head of a Muslim pilgrimage fund. Malaysia's Prime Minister Mahathir Mohamad gives a news conference after a cabinet meeting in Putrajaya, Malaysia May 23, 2018. REUTERS/Stringer
Mahathir led an opposition coalition to a shock victory in elections this month after campaigning on rising living costs and a promise to clean up corruption and on Wednesday vowed to cut the national debt of 1 trillion ringgit ($251.67 billion).
He has barred former premier Najib Razak and his wife, Rosmah Mansor, from leaving the country, and ordered the anti-graft agency to investigate the disappearance of billions of dollars from state fund 1Malaysia Development Berhad (1MDB).
Investigators have already searched Najib’s home and several properties, seizing cash, jewellery and luxury items estimated to be worth millions of dollars.
The Malaysian Anti-Corruption Commission (MACC) will finish taking a statement from Najib, who ruled the country for almost a decade, on Thursday.
In a separate development, police on Tuesday raided five sites linked to Abdul Azeez Abdul Rahim, the former government-appointed chairman of Tabung Haji, a fund for Muslim pilgrims to Mecca, an MACC official told Reuters. Related Coverage Malaysia says private search for MH370 to end next week
A number of documents, jewellery and cash were confiscated, said the source, who declined to be identified due to the sensitivity of the issue. The Star newspaper reported on its website that the cash found totalled 120 million Malaysian ringgit ($30 million). Abdul Azeez Abdul Rahim was not immediately available for comment.
Najib has consistently denied any wrongdoing at 1MDB.
New Finance Minister Lim Guan Eng said on Wednesday that he has asked for PricewaterhouseCoopers to be appointed for a review and audit of 1MDB.
“The directors of 1MDB confirmed that 1MDB was ‘insolvent’ and was unable to repay its debts,” Lim said. Malaysia's newly elected Prime Minister Mahathir Mohamad attends a news conference in Menara Yayasan Selangor, Pataling Jaya, Malaysia May 12, 2018. REUTERS/Stringer
Lim said on Tuesday Najib’s government deceived parliament over 1MDB finances and suppressed an investigation by intimidating and purging anti-corruption agents.
Mahathir, who was also prime minister for 22 years from 1981, said after his first cabinet meeting his government would try to cut the national debt, which he put at 65 percent of GDP, by reviewing projects and a 10 percent reduction in cabinet ministers’ salaries.
The previous government had said the national debt had been below its self-imposed ceiling of 55 percent of GDP.
Mahathir also said he would review the search by a U.S. firm for Malaysia Airlines Flight MH370 which disappeared on its way from Kuala Lumpur to Beijing on March 8, 2014, with 239 people on board in one of the world’s biggest aviation mysteries.
The new transport minister later said the search would end on Tuesday. [L3N1SU35T]
Mahathir also said his government would decide “very soon” on whether to continue with the Singapore-Kuala Lumpur high speed rail project.
Mahathir has already announced plans to revoke a controversial goods and services tax that was intended to rake in 43.8 billion ringgit ($11.05 billion) this year, and reinstate fuel subsidies amid rising oil prices.
($1 = 3.9800 ringgit) Additional reporting by Rozanna Latiff, Emily Chow and Praveen Menon; Writing by Kanupriya Kapoor and Simon Cameron-Moore; Editing by Nick Macfie | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-malaysia-politics/malaysias-pm-mahathir-says-national-debt-is-65-percent-of-gdp-idUKKCN1IO0G8 |
May 20, 2018 / 2:39 PM / Updated 19 minutes ago IPL Scoreboard Reuters Staff 3 Min Read May 20 (OPTA) - Scoreboard at close of play on the first day of match 55 between Delhi Daredevils and Mumbai Indians on Sunday at Delhi, India Delhi Daredevils win by 11 runs Delhi Daredevils 1st innings Prithvi Shaw Run Out Hardik Pandya 12 Glenn Maxwell b Jasprit Bumrah 22 Shreyas Iyer c Krunal Pandya b Mayank Markande 6 Rishabh Pant c Kieron Pollard b Krunal Pandya 64 Vijay Shankar Not Out 43 Abhishek Sharma Not Out 15 Extras 1b 6lb 0nb 0pen 5w 12 Total (20.0 overs) 174-4 Fall of Wickets : 1-30 Shaw, 2-38 Maxwell, 3-75 Iyer, 4-139 Pant Did Not Bat : Patel, Mishra, Lamichhane, Boult, Plunkett Bowling Ov Md Rn Wk Econ Ex Krunal Pandya 2 0 11 1 5.50 Jasprit Bumrah 4 0 29 1 7.25 3w Hardik Pandya 4 0 36 0 9.00 1w Mustafizur Rahman 4 0 34 0 8.50 Mayank Markande 2 0 21 1 10.50 Ben Cutting 4 0 36 0 9.00 1w Mumbai Indians 1st innings Suryakumar Yadav c Vijay Shankar b Sandeep Lamichhane 12 Evin Lewis st Rishabh Pant b Amit Mishra 48 Ishan Kishan c Vijay Shankar b Amit Mishra 5 Kieron Pollard c Trent Boult b Sandeep Lamichhane 7 Rohit Sharma c Trent Boult b Harshal Patel 13 Krunal Pandya c (Sub) b Sandeep Lamichhane 4 Hardik Pandya c (Sub) b Amit Mishra 27 Ben Cutting c Glenn Maxwell b Harshal Patel 37 Mayank Markande b Trent Boult 3 Jasprit Bumrah c Trent Boult b Harshal Patel 0 Extras 0b 1lb 0nb 0pen 6w 7 Total (19.3 overs) 163 all out Fall of Wickets : 1-12 Yadav, 2-57 Kishan, 3-74 Lewis, 4-74 Pollard, 5-78 Pandya, 6-121 Sharma, 7-122 Pandya, 8-157 Markande, 9-163 Cutting, 10-163 Bumrah Did Not Bat : Rahman Bowling Ov Md Rn Wk Econ Ex Sandeep Lamichhane 4 0 36 3 9.00 1w Trent Boult 4 0 33 1 8.25 1w Glenn Maxwell 2 0 19 0 9.50 Harshal Patel 2.3 0 28 3 11.20 1w Liam Plunkett 3 0 27 0 9.00 2w Amit Mishra 4 0 19 3 4.75 Umpire C Nandan Umpire Handunnettige Dharmasena Video Vineet Kulkarni Match Referee Manu Nayyar | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-india-scoreboard/ipl-scoreboard-idINMTZXEE5K176KH8 |
May 1, 2018 / 11:36 AM / Updated 6 minutes ago BRIEF-Imax Reports Q1 Adj. Earnings Per Share Of $0.21 Reuters Staff
May 1 (Reuters) - Imax Corp:
* REPORTS FIRST-QUARTER 2018 RESULTS * Q1 REVENUE $85 MILLION VERSUS I/B/E/S VIEW $81.2 MILLION
* Q1 EARNINGS PER SHARE VIEW $0.11 — THOMSON REUTERS I/B/E/S
* THERE WERE 529 THEATERS IN BACKLOG AS OF MARCH 31, 2018, COMPARED TO 524 IN BACKLOG AS OF MARCH 31, 2017 Source text for Eikon: Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-imax-reports-q1-adj-earnings-per-s/brief-imax-reports-q1-adj-earnings-per-share-of-0-21-idUSASC09YJV |
May 17, 2018 / 9:21 PM / Updated 16 minutes ago Argentine peso stabilises after central bank draws the line at 25 per dollar Hugh Bronstein , Jorge Otaola 4 Min Read
BUENOS AIRES (Reuters) - Argentina’s peso stabilised on Thursday as the central bank declined for the second day in a row to support the local currency by selling dollars, indicating its willingness to let the market find its own level under 25 to the U.S. dollar. People walk by an electronic board showing currency exchange rates in Buenos Aires' financial district, Argentina May 15, 2018. REUTERS/Martin Acosta
The peso, in line with currencies around the region, slipped 0.2 percent to 24.3 per greenback a day after President Mauricio Macri declared the run on the peso to be over and sent an olive branch to the bond market by vowing to speed up his deficit cutting effort. Wall Street applauded the moves.
Wednesday and Thursday were the first trading session since May 9 in which the bank did not sell reserves to prop up the peso, which has weakened about 16 percent this month.
The central bank offered to sell $5 billion at 25 pesos per dollar on Thursday, but the local currency did not approach that level during the session. Chief monetary policymaker Federico Sturzenegger established a floor for the peso on Wednesday when he said 25 to the dollar would be “out of scale.”
The peso hit a series of all-time lows earlier in the month, forcing the president to request a “high access stand-by arrangement” from the International Monetary Fund (IMF) last week.
It was one of several moves by Macri to bolster confidence after weeks of volatility sparked by a new tax on foreign investors, weak fundamentals, including 25 percent inflation and worries about financial fallout from a drought that has walloped the harvest of Argentina’s main cash crop, soy.
The IMF deal may include tough limits on government spending after what Macri called his “gradualist” approach to reform failed to halt the peso’s slide.
Earlier this month, the government cut its 2018 fiscal deficit goal to 2.7 percent of gross domestic product from 3.2 percent previously. But that in itself was not enough to keep the peso from tumbling. ‘ACCELERATED GRADUALISM’
Rather than opt for full bore budget slashing, Macri was more likely to open a period of “accelerated gradualism,” said Alberto Bernal, chief strategist at XP Securities. “I’m still very bullish on this story,” he said in an email.
“The main points ahead are the details of the arrangement with the IMF,” said Gabriel Zelpo, chief economist at local consultancy Elypsis, who estimates the government needs about $33 billion from the multilateral lender over the coming year.
“We estimate that a good arrangement with the IMF should be of about that size,” Zelpo said. “Investors are waiting to see how intense the fiscal reduction requirement will be and, most important, what the size of the credit package will be.”
Those details will be “developed in the coming days,” an IMF official told reporters in Washington on Thursday. An IMF board meeting on Argentina is scheduled for Friday.
Resorting to the IMF is politically sensitive for Macri, who is expected to run for re-election next year. Many Argentines believe it was IMF policies that set the stage for the country’s 2001/02 economic meltdown, which tossed millions of middle class Argentines into poverty.
Protests against Macri’s deficit-cutting programme and his decision to engage with the IMF are being held daily, blocking streets in capital Buenos Aires. Reporting by Hugh Bronstein and Jorge Otaola, Walter Bianchi and Lindsay Dunsmuir; Editing by Rosalba O'Brien and Sandra Maler | ashraq/financial-news-articles | https://www.reuters.com/article/uk-argentina-peso/argentine-peso-stabilizes-under-central-bank-floor-of-25-per-dollar-idUSKCN1II2YO |
Putin reviews Russia's 'invincible weapons' during military parade 8:57am EDT - 00:50
Russia shows off its military might during an annual parade, including a hypersonic missile President Vladimir Putin has touted as invincible Rough cut (no reporter narration).
Russia shows off its military might during an annual parade, including a hypersonic missile President Vladimir Putin has touted as invincible Rough cut (no reporter narration). //www.reuters.com/video/2018/05/09/putin-reviews-russias-invincible-weapons?videoId=425246779&videoChannel=13421 | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/09/putin-reviews-russias-invincible-weapons?videoId=425246779 |
Company Announces 2018 Annual Meeting Results; Board Re-Appoints Leadership
CHICAGO--(BUSINESS WIRE)-- Ventas, Inc. (NYSE: VTR) said today that its Board of Directors (the "Board") declared a regular quarterly dividend of $0.79 per share, payable in cash on July 12, 2018 to stockholders of record on July 2, 2018. The dividend is the second quarterly installment of the Company’s 2018 annual dividend.
2018 ANNUAL MEETING RESULTS
At Ventas’s Annual Meeting of Stockholders held yesterday, stockholders voted to elect each of the Company’s director-nominees to new one-year terms: Melody C. Barnes, Debra A. Cafaro, Jay M. Gellert, Richard I. Gilchrist, Matthew J. Lustig, Roxanne M. Martino, Walter C. Rakowich, Robert D. Reed and James D. Shelton. Stockholders also ratified the selection of KPMG LLP as the Company’s independent registered public accounting firm for 2018 and approved, on an advisory basis, the Company’s executive compensation.
BOARD RE-APPOINTS LEADERSHIP
Consistent with the Company’s commitment to strong corporate governance, the Board re-appointed Mr. Shelton, an independent director, as the Company’s presiding director to chair executive sessions of the Board and otherwise act as a liaison between the independent members of the Board and the Company’s management. The Board also re-appointed Ms. Cafaro, the Company’s Chief Executive Officer, to serve as Chairman.
Ventas, Inc., an S&P 500 company, is a leading real estate investment trust. Its diverse portfolio of more than 1,200 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, life science and innovation centers, inpatient rehabilitation and long-term acute care facilities, health systems and skilled nursing facilities. Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States. References to “Ventas” or the “Company” mean Ventas, Inc. and its consolidated subsidiaries unless otherwise expressly noted. More information about Ventas and Lillibridge can be found at www.ventasreit.com and www.lillibridge.com .
The Company routinely announces material information to investors and the marketplace using press releases, Securities and Exchange Commission ("SEC") filings, public conference calls, webcasts and the Company’s website at www.ventasreit.com/investor-relations . The information that the Company posts to its website may be deemed to be material. Accordingly, the Company encourages investors and others interested in the Company to routinely monitor and review the information that the Company posts on its website, in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s or its tenants’, operators’, borrowers’ or managers’ expected future financial condition, results of operations, cash flows, funds from operations, dividends and dividend plans, financing opportunities and plans, capital markets transactions, business strategy, budgets, projected costs, operating metrics, capital expenditures, competitive positions, acquisitions, investment opportunities, dispositions, merger or acquisition integration, growth opportunities, expected lease income, continued qualification as a real estate investment trust (“REIT”), plans and objectives of management for future operations and statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions are forward-looking statements. These forward-looking statements are inherently uncertain, and actual results may differ from the Company’s expectations. The Company does not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made.
The Company’s actual future results and trends may differ materially from expectations depending on a variety of factors discussed in the Company’s filings with the Securities and Exchange Commission. These factors include without limitation: (a) the ability and willingness of the Company’s tenants, operators, borrowers, managers and other third parties to satisfy their obligations under their respective contractual arrangements with the Company, including, in some cases, their obligations to indemnify, defend and hold harmless the Company from and against various claims, litigation and liabilities; (b) the ability of the Company’s tenants, operators, borrowers and managers to maintain the financial strength and liquidity necessary to satisfy their respective obligations and liabilities to third parties, including without limitation obligations under their existing credit facilities and other indebtedness; (c) the Company’s success in implementing its business strategy and the Company’s ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (d) macroeconomic conditions such as a disruption of or lack of access to the capital markets, changes in the debt rating on U.S. government securities, default or delay in payment by the United States of its obligations, and changes in the federal or state budgets resulting in the reduction or nonpayment of Medicare or Medicaid reimbursement rates; (e) the nature and extent of future competition, including new construction in the markets in which the Company’s seniors housing communities and medical office buildings (“MOBs”) are located; (f) the extent and effect of future or pending healthcare reform and regulation, including cost containment measures and changes in reimbursement policies, procedures and rates; (g) increases in the Company’s borrowing costs as a result of changes in interest rates and other factors; (h) the ability of the Company’s tenants, operators and managers, as applicable, to comply with laws, rules and regulations in the operation of the Company’s properties, to deliver high-quality services, to attract and retain qualified personnel and to attract residents and patients; (i) changes in general economic conditions or economic conditions in the markets in which the Company may, from time to time, compete, and the effect of those changes on the Company’s revenues, earnings and funding sources; (j) the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; (k) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (l) final determination of the Company’s taxable net income for the year ended December 31, 2017 and for the year ending December 31, 2018; (m) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration of the leases, the Company’s ability to reposition its properties on the same or better terms in the event of nonrenewal or in the event the Company exercises its right to replace an existing tenant, and obligations, including indemnification obligations, the Company may incur in connection with the replacement of an existing tenant; (n) risks associated with the Company’s senior living operating portfolio, such as factors that can cause volatility in the Company’s operating income and earnings generated by those properties, including without limitation national and regional economic conditions, costs of food, materials, energy, labor and services, employee benefit costs, insurance costs and professional and general liability claims, and the timely delivery of accurate property-level financial results for those properties; (o) changes in exchange rates for any foreign currency in which the Company may, from time to time, conduct business; (p) year-over-year changes in the Consumer Price Index or the UK Retail Price Index and the effect of those changes on the rent escalators contained in the Company’s leases and the Company’s earnings; (q) the Company’s ability and the ability of its tenants, operators, borrowers and managers to obtain and maintain adequate property, liability and other insurance from reputable, financially stable providers; (r) the impact of increased operating costs and uninsured professional liability claims on the Company’s liquidity, financial condition and results of operations or that of the Company’s tenants, operators, borrowers and managers, and the ability of the Company and the Company’s tenants, operators, borrowers and managers to accurately estimate the magnitude of those claims; (s) risks associated with the Company’s MOB portfolio and operations, including the Company’s ability to successfully design, develop and manage MOBs and to retain key personnel; (t) the ability of the hospitals on or near whose campuses the Company’s MOBs are located and their affiliated health systems to remain competitive and financially viable and to attract physicians and physician groups; (u) risks associated with the Company’s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partners’ financial condition; (v) the Company’s ability to obtain the financial results expected from its development and redevelopment projects; (w) the impact of market or issuer events on the liquidity or value of the Company’s investments in marketable securities; (x) consolidation activity in the seniors housing and healthcare industries resulting in a change of control of, or a competitor’s investment in, one or more of the Company’s tenants, operators, borrowers or managers or significant changes in the senior management of the Company’s tenants, operators, borrowers or managers; (y) the impact of litigation or any financial, accounting, legal or regulatory issues that may affect the Company or its tenants, operators, borrowers or managers; and (z) changes in accounting principles, or their application or interpretation, and the Company’s ability to make estimates and the assumptions underlying the estimates, which could have an effect on the Company’s earnings.
//www.businesswire.com/news/home/20180516005793/en/
Ventas, Inc.
Ryan K. Shannon
(877) 4-VENTAS
Source: Ventas, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/business-wire-ventas-declares-regular-quarterly-dividend-of-0-point-79-per-share.html |
If you hate your commute, you're not alone. One study found that adding 20 minutes to your commute makes you as miserable as taking a 19 percent pay cut. Nobel laureate Daniel Kahneman and economist Alan Krueger once surveyed 900 people and found that commuting was their least favorite activity of all, behind work, child care and home chores.
Unfortunately, Americans are commuting longer than ever before and it's having a serious impact their lives. Vox's Kimberly Mas points out that commuting has been linked to obesity, stress, anxiety, depression, higher blood pressure, higher rates of divorce, neck and back pain and shorter lifespans.
show chapters These are the 10 happiest states in the US 9:59 AM ET Fri, 23 Feb 2018 | 01:21 And yet, commute times have modestly but steadily increased over the past several decades. According to the U.S. Census, in 1990 the average commute time was less than 22 minutes . Today, Americans spend just over 26 minutes commuting to work each way.
These four extra minutes spent on commuting equates to eight minutes a day (4 x 2) round trip, 40 (8 x 5) extra minutes each week and 2080 (40 x 52) extra minutes of commuting each year. This means that commuters now are spending 34.6 more hours in transit — a whole work week — than workers in the 1990s.
Of course, where you live dramatically impacts how long it takes you to travel to work. Check out which states have it off the best — and the worst — when it comes to getting to and from the office:
The five states with the longest commute:
5. District of Columbia Average travel time to work: 29.9 minutes
4. Massachusetts Average travel time to work: 29 minutes
3. New Jersey Average travel time to work: 31.2 minutes
2. Maryland Average travel time to work: 32.4 minutes
1. New York Average travel time to work: 32.6 minutes
show chapters Why a New York Giants linebacker took his high school car with him to the NFL 11:01 AM ET Wed, 31 Jan 2018 | 01:01 Here are the five states with the shortest commutes:
5. Nebraska Average travel time to work: 18.3 minutes
4. Wyoming Average travel time to work: 18.1 minutes
3. Montana Average travel time to work: 17.9 minutes
2. North Dakota Average travel time to work: 17.3 minutes
1. South Dakota Average travel time to work: 16.9 minutes
Workers in South Dakota can brag that they have the shortest commutes in the country. The average South Dakotan spends just 16.9 minutes commuting to work each day.
Neighboring states North Dakota, Montana, Wyoming and Nebraska rounded out the list of the states with the five shortest commutes.
When it comes to the longest commute times, states that are home to major cities seem to suffer the most. New Yorkers, for instance, endure the longest commutes — 32.6 minutes on average.
Long commutes like these are just one of the reasons more Americans are working remotely than ever before . A 2017 Gallup study found that 43 percent of Americans spend some time working from home, and Quartz estimates that remote workers save $444 on average just by cutting their commute costs.
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Hain Celestial' s stock hit a more than five-year low Tuesday after it lowered earnings expectations for the year.
The Terra-chip maker adjusted its earnings forecast to exclude the protein business it is currently selling. The revised fiscal 2018 forecast calls for earnings of between $1.11 and $1.18 per share, down from $1.64 to $1.75 per share.
Shares of the company were recently down nearly 4 percent in morning training. However, earlier the stock sunk as low as $25.80, a level not seen since Dec. 31, 2012.
Hain previously announced its plans to sell its protein business, which includes brands like Empire Kosher Poultry and Plainville Farms. Industry sources have speculated the sale of the protein business could pave the way for a sale of the bigger company.
Logical buyers for the protein business include Tyson Foods , Cargill or Smithfield Foods .
Hain, like many of its food peers, said its earnings were compressed this quarter by higher freight and commodity inflation. The organic food company also has seen increased competition from upstart players and has struggled to manage a portfolio comprised of many small brands.
Net income in the third quarter ended March 31, fell to $12.7 million, or 12 cents a share, from $31.3 million, or 30 cents a share, in the year-ago period. Excluding items, Hain reported adjusted earnings per share of 37 cents, which was far less than analysts predicted.
It reported net sales for the quarter of $632.7 million, an 8 percent increase over the same quarter a year ago. Despite the gain, sales were short of expectations. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/08/hain-stock-sinks-as-earnings-disappoint-and-forecast-slashed.html |
NEW YORK--(BUSINESS WIRE)-- Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of RPX Corporation (NASDAQ:RPXC) stockholders concerning the proposed acquisition of the company by HGGC.
Our investigation concerns whether RPX’s board of directors failed to adequately shop the Company and obtain the best possible value for its stockholders before entering into a definitive merger agreement with HGGC. Under the terms of the agreement, RPX stockholders will receive $10.50 per share in cash for each RPX share that they own.
If you own RPX shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected] , or telephone at (212) 355-4648, or by filling out this contact form . There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation of RPX Corporation, please go to http://www.bespc.com/rpx . For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180501006846/en/
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq. / Melissa Fortunato, Esq., 212-355-4648
[email protected]
www.bespc.com
Source: Bragar Eagel & Squire, P.C. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/business-wire-bragar-eagel-squire-p-c-is-investigating-the-board-of-directors-of-rpx-corporation-rpxc-on-behalf-of-stockholders-and.html |
This is the biggest risk to the bond market: Wells Fargo 2 Hours Ago The yield on the 10-year is north of 3 percent, but Wells Fargo's Michael Schumacher says this is the real risk to the bond market. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/15/this-is-the-biggest-risk-to-the-bond-market-wells-fargo.html |
May 23, 2018 / 6:17 AM / Updated 28 minutes ago Britain's Zoopla profits rise a third ahead of takeover Costas Pitas 2 Min Read
LONDON (Reuters) - Britain’s ZPG ( ZPG.L ), which runs property website Zoopla and is being bought by U.S. private equity firm Silver Lake for 2.2 billion pounds ($3 billion), posted a 33 percent rise in first-half profit as listings grew on its platforms. FILE PHOTO: Zoopla branding is seen at West Bromwich Albion's Hawthorns stadium, in West Bromwich, Britain, January 20, 2014. REUTERS/Carl Recine/File Photo
Silver Lake said this month it was buying the real estate portal, which also operates site PrimeLocation and comparison service uSwitch, with the deal set to complete in the third quarter of 2018 subject to shareholder approval.
“We are excited about the prospect of working with Silver Lake and the opportunity this offers to our employees, consumers and partners as we move to the next stage of ZPG’s development and growth,” said founder and CEO Alex Chesterman.
Chesterman, who launched the Zoopla website in 2008, said he would remain with the business after Silver Lake’s 4.90 pound per share cash buyout which will be discussed at a shareholder meeting due to be held on June 18.
Profit rose 33 percent to 22.4 million pounds in the six months to the end of March while revenue also rose by a third to 157 million pounds.
Listings increased by 6 percent to 982,000 whilst the number of estate agents on its sites rose by 7 percent to 15,264 branches, as the site continues to win back partners from rival OnTheMarket ( OTMPO.L ), which had taken some of Zoopla’s business in the past.
Chesterman said since OnTheMarket earlier this year dropped its “one other portal rule”, which meant that many estate agents listed on Rightmove and either Zoopla or OnTheMarket, the number of agents joining ZPG had risen significantly.
“We’ve been winning back agents over the last three months at twice the rate of the three months prior to that and four times the rate of the same three months last year,” he said. Reporting by Costas Pitas; editing by Paul Sandle and Jason Neely | ashraq/financial-news-articles | https://www.reuters.com/article/us-zpg-results/britains-zoopla-profits-rise-a-third-ahead-of-takeover-idUSKCN1IO0KP |
May 19, 2018 / 2:44 PM / Updated 38 minutes ago Remains of Spanish dictatorship's victims handed to families, 80 years on Juan Medina , Miguel Gutierrez 3 Min Read
GUADALAJARA, Spain (Reuters) - The remains of 22 people killed in the months following Spain’s 1936-39 civil war were handed over to relatives in a ceremony in Guadalajara on Saturday after investigations into a suspected mass grave unearthed the victims. Carmen Benito Alcantarilla holds pictures of her uncle Valentin Alcantarilla Mercado who was shot in 1940 by forces of dictator Francisco Franco in Guadalajara's cemetery, Spain, January 28, 2016. Picture taken January 28, 2016. REUTERS/Juan Medina
Hundreds took part in the handover following an exhumation at a cemetery thought to contain as many as 800 victims of political violence during the almost four-decade dictatorship of General Francisco Franco that followed the war.
The ceremony, in which the remains were handed to families in simple wooden boxes covered by a red velvet cloth and topped with a white carnation and a photo of the deceased, was a solemn event that also helped draw a line under years of uncertainty. Boxes containing the remains of some of the 22 people who were shot between 1939 and 1940 by forces of dictator Francisco Franco are seen during a ceremony in Guadalajara, Spain, May 19 , 2018. REUTERS/Juan Medina
“This has brought us a sense of calm. We feel better because, at the end of the day, although they’re longer alive, we have their bodies which are ours and which we have the right to have where we want and where they should be, in their own town,” said Maria Angeles Ortega Gonzalo, after receiving the remains of Casto Mercado Molada, her brother-in-law’s grandfather. Slideshow (10 Images)
Her own grandfather, also known to be amongst those at the site, has yet to be identified, she said.
The families planned to give their loved ones a proper burial at cemeteries across the area later on Saturday.
The resting place of many killed across the country are still unknown, though the Association for the Recovery of Historical Memory (ARMH) has documented 114,226 cases of men and women buried in mass graves around Spain.
In an effort to ease the transition to democracy in 1977 after Franco’s death, Spain passed an amnesty law pardoning political crimes committed during the conflict and the dictatorship in an accord known as the “Pact of Forgetting”.
Since then, some have fought to unearth family members who were killed and dumped in unmarked mass graves. The Guadalajara site was opened on the orders of an Argentine judge in a lawsuit seeking redress for crimes committed during the war and the years that followed.
Historians estimate about half a million combatants and civilians were killed on the Republican and Nationalist sides in the war, while tens of thousands of Franco’s enemies were later killed or imprisoned in a campaign to wipe out dissent. Writing by Paul Day, Editing by William Maclean | ashraq/financial-news-articles | https://www.reuters.com/article/us-spain-massgraves/remains-of-spanish-dictatorships-victims-handed-to-families-80-years-on-idUSKCN1IK0JZ |
Getty Images Donald Trump
Amid all the scrutiny this week of Trump confidantes cashing in on their relationships with President Trump, just about everyone in Washington has weighed in: Yes, it's corruption! No, it's just Washington being Washington! Yes, Trump is drowning in the swamp!
White House Press Secretary Sarah Huckabee Sanders argues that payments by AT&T to President Trump's personal attorney Michael Cohen really represent "the definition of draining the swamp" because the Trump Administration didn't let the payments stop the Department of Justice from taking steps against the AT&T/Time Warner merger.
But one aspect of all this remains relatively unexplored: How does President Trump himself feels about his former employees cashing in under his name?
According to people who know the president well, Trump has a number of unwritten rules for his associates who are looking to profit from their long association with him – or even their short spin through the White House security gates. You must be successful
This is a president who views life through a lens of financial success. So he doesn't have a problem with former associates profiting from his persona. Where previous presidents might have seen distasteful selling out, Trump sees lots of his guys – and they're overwhelmingly guys – building art-of-the-deal style fortunes for themselves. "As long as you can say you're kicking ass and being successful under Trump's name, he's fine with it," says one former Trump campaign aide.
Remember, political consulting is not lobbying. As a political consultant, you deal with your clients and give advice about how to frame messages, who to call, and how the president thinks about an issue privately.
As a lobbyist, you are the one making the calls – to the White House, to Congress and to the executive branch agencies. You are expected to move the policy decisions in the direction of your client, and therefore your client has some way to measure whether you're successful or not.
As a political consultant, there really is no way to measure success. And what appear to be powerful insights to a company grasping for information about a president can actually be pretty light work.
"Sometimes you don't even need to call over to the White House - if you've spent a year on the campaign trail with these people, you know them pretty well," says one person who knows the business. "You know who's handling what. And you know how your client can approach them in a way that will resonate."
The former Trump campaign aide sees Cohen's interaction with AT&T - which the company has since said was a mistake - as actually "somewhat brilliant."
"It was like paying for a jury consultant," the aide says. "What the f--- do you think happens every day in this town? All these other people are giving money to actually go do something – pay them off, throw them a fundraiser."
The key is not to build in too much overhead, insiders say. A number of political consultants work from home, or from their cars and restaurants around town. One veteran of the space gives this advice: "What you want is a monthly retainer, not an hourly deal, because it's a pain in the ass to keep track of the hours."
The traditional going rate for this kind of work is anywhere between $15,000 and $50,000 per month. But some former Trump aides have been able to charge as much as $100,000 per month, because clients were starved for information on the new president. Never create a bad story
But all that success comes with a caveat: If the work draws any negative attention – a "bad story" in Trump parlance – the president could cut off access, publicly distance himself, or spread the word that you are out of favor.
This is something of a gray area, because it's never entirely clear to former aides and staffers what the president will have a problem with. In one recent case, a prominent Trump supporter was barred from a presidential fundraiser because Trump's aides decided he had become a political liability.
There's one giant exception that proves this rule: Michael Cohen himself. Disclosures about the president's former lawyer's payouts from companies including AT&T and Novartis have been front and center for a week, creating a quintessential "bad story" for Trump.
The president seems to have little respect for Cohen, routinely mocking him in private. That's why White House aides are flummoxed by the president's ongoing relationship with his New York fixer, who has broken this key rule and yet the president will not break with him.
One way to keep from embarrassing the president is to stay well within the norms of Washington DC's already pliable consulting and lobbying regulations. Cohen didn't do that, even with his big-name corporate clients. "If Novartis entered into a contract for $1.2 million sight unseen, that is unbelievable to me. I have never heard of anything like that," says one long-time Republican operative. Never say you influence Trump
This one is key. In Trump's view, success flows from him to the team, not from the team to him. So any aides telling prospective clients that they can persuade the president to take a certain action or steer him away from a particular decision are treading on dangerous ground. Word does get back to Trump about some of the pitches his former aides are making to clients in his name – and he doesn't always like what he hears.
This rule has one big advantage for the political consultants, though: It means they don't have to register as lobbyists. The law requires anyone doing lobbying for more than a certain percentage of their time to publicly disclose their clients – and fees – on a regular basis . But consulting that doesn't involve making explicit pitches to lawmakers for action is entirely unregulated – and possibly a bigger industry in Washington than the more than the $3 billion a year lobbying business .
The former Trump campaign aide mentioned another former aide, Corey Lewandowski, as an example. Ultimately, it's up to the companies to decide how much they want to pay for access to the president - and how far they're willing to go. "He does have access - It's not bulls---," the aide said. "Then it comes down to, do you want to be involved in that? Do you need what Corey is selling?" Eamon Javers CNBC Washington Reporter Related Securities | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/16/trumps-rules-for-cashing-in.html |
May 23(Reuters) - Tallink Grupp:
* SAYS SUPERVISORY BOARD OF RESOLVED TO APPROVE THE SECONDARY LISTING OF COMPANY’S SHARES ON NASDAQ HELSINKI STOCK EXCHANGE
* THE COMPANY’S SHARES WILL CONTINUE TO BE LISTED ALSO ON NASDAQ TALLINN STOCK EXCHANGE.
Source text for Eikon:
Further company coverage: (Gdynia Newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/idUSL5N1SU1OT |
May 4, 2018 / 8:02 PM / Updated 10 minutes ago U.S. House committee chair supports Puerto Rico statehood Daniel Bases 3 Min Read
(Reuters) - U.S. House of Representatives Natural Resources Committee Chairman Rob Bishop said on Friday he supports the government of Puerto Rico’s efforts to introduce bipartisan legislation in Congress to grant full statehood to the U.S. commonwealth territory.
“I am supportive of statehood. I think it is a solution that is long overdue,” Bishop, a Republican from Utah, said during a visit to the island that was broadcast over the internet.
Puerto Rico is still in the throes of recovering from September’s devastating spate of hurricanes that killed dozens and completely knocked out power, deepening the economic woes for the island’s 3.4 million U.S. citizens. Many of them have decamped for the mainland United States in search of jobs and social services.
Bishop’s committee has overseen the process, well before the hurricanes, of addressing Puerto Rico’s financial insolvency. It declared the largest municipal bankruptcy in U.S. history one year ago when it said it could not service its $120 billion in debt and pension obligations.
Committee aides gave no firm timetable for holding a hearing on Puerto Rico statehood much less advancing statehood legislation. The last time the United States gained a state was in 1959 when Hawaii became the 50th state.
Bishop, standing next to Puerto Rico’s non-voting member of Congress, Jennifer Gonzalez-Colon, said he was fully supportive of her “bipartisan, bicameral way” of reaching her goal.
“I also realize there are certain steps to get there. They are not necessarily easy steps and what happens to the financial stability of this island is one of those key critical components,” Bishop said.
His committee created the Puerto Rico rescue law known as PROMESA, passed in 2016, which established a federally appointed financial oversight and management board with the authority to negotiate the restructuring of the island’s debt.
Before the status of Puerto Rico were to change, Bishop said, the island would need to establish a “vibrant economy, a stable government that is fiscally sound.” Additional reporting by Richard Cowan in Washington; Editing by David Gregorio | ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-puertorico-statehood/u-s-house-committee-chair-supports-puerto-rico-statehood-idUSKBN1I52FZ |
May 7 (Reuters) - Three-A Resources Bhd:
* QTRLY REVENUE 102.5 MILLION RGT; QTRLY NET PROFIT 6.2 MILLION RGT
* YEAR-AGO QTRLY REVENUE 103.2 MILLION RGT; YEAR-AGO QTRLY NET PROFIT 10.3 MILLION RGT Source text : ( bit.ly/2rpuhNp )
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-three-a-resources-posts-qtrly-net/brief-three-a-resources-posts-qtrly-net-profit-of-6-2-mln-rgt-idUSFWN1SE0CD |
U.S. households became less confident about the economy in May, continuing to ease from a 14-year high seen earlier this year.
The University of Michigan on Friday said its consumer sentiment index was 98.0 in May, down slightly from an initial 98.8 reading for the month. Economists surveyed by The Wall Street Journal had expected a final reading of 98.8 for May, unchanged from April. This follows a 14-year high reading of 101.4 seen in March.
... | ashraq/financial-news-articles | https://www.wsj.com/articles/americans-confidence-in-the-economy-slips-narrowly-1527259091 |
SHANGHAI (Reuters) - Alibaba Group Holding Ltd on Tuesday said it has led a consortium of investors to buy about 10 percent of Chinese courier ZTO Express (Cayman) Inc for $1.38 billion, as part of the e-commerce firm’s push into offline services.
FILE PHOTO: Workers listen to their line manager as he prepares them for the upcoming Singles Day shopping festival, at a sorting centre of ZTO Express, in Chaoyang district, Beijing, China November 8, 2015. REUTERS/Jason Lee The consortium includes Alibaba’s majority-owned logistics affiliate Cainiao Smart Logistics Network Ltd, Alibaba and ZTO said in a joint statement without disclosing the identity of other investors. They said they expect the deal to close in June.
The investment would be Alibaba’s third in a Chinese courier after buying a minority stakes in YTO Express Group Co Ltd and Best Inc.
The e-commerce firm has been expanding its logistics network at home and abroad as it works to diversify its customer base. As part of that effort, it became majority shareholder in September of Cainiao, which provides logistics support to Alibaba’s main e-commerce platform, Taobao.
ZTO owns 1 percent of Cainiao, which it co-founded with Alibaba and over a dozen other Chinese companies in 2013.
ZTO’s chairman, Lai Meisong, told Reuters the latest deal would allow ZTO and Alibaba to better share resources and help ZTO cut costs through access to new technologies. He said the pair decided to enter a deal so as to work more closely on operations and build trust between affiliates.
FILE PHOTO: A worker unloads parcels from a vehicle of the ZTO Express delivery in Beijing, China, October 27, 2016. REUTERS/Thomas Peter/File Photo ZTO said Alibaba will have a seat on its board.
“This trust will improve the efficiency of our cooperation,” Lai said in a telephone interview.
Shanghai-based ZTO’s $1.4 billion New York listing was the United States’ largest listing in 2016 and was the biggest by a Chinese firm since Alibaba’s $25 billion initial public offering in 2014.
ZTO shares closed at a lifetime high of $19.30 on Friday, their most recent day of trading, valuing the firm at $13.7 billion.
Earlier this month, ZTO reported a 36 percent on-year rise in first quarter revenue. It said it handled 6.2 billion parcels in 2017, giving it a 15.5 percent market share, from 7.6 percent in 2011.
Reporting by Brenda GohEditing by Christopher Cushing
| ashraq/financial-news-articles | https://www.reuters.com/article/us-zto-alibaba/alibaba-leads-consortium-in-1-4-billion-deal-for-stake-in-chinese-courier-zto-idUSKCN1IU1B8 |
GRAINS-U.S. soybeans edge down from 11-day high on USDA planting report Published 8 Hours Ago Reuters
SYDNEY, May 22 (Reuters) - U.S. soybean futures edged lower on Tuesday, retreating from an 11-day high as the U.S. Department of Agriculture said planting was progressing ahead of market forecasts, easing fears about possible yield losses.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board Of Trade were down 0.3 percent at $10.22-1/4 a bushel by 0142 GMT, having firmed 2.7 percent on Monday when prices hit $10.27 a bushel, the highest since May 10.
* The most active corn futures were down 0.3 percent to $4.01-3/4 a bushel, having gained 0.1 percent in the previous session when prices hit a high of $4.07-1/2 a bushel - the highest since May 4.
* The most active wheat futures were down 0.2 percent to $5.06-1/4 a bushel, having closed down 2.1 percent on Monday.
* The U.S. Department of Agriculture said 81 percent of the corn crop had been planted as of Sunday along with 56 percent of the soybean crop, both slightly above analyst estimates.
* Grain complex supported after U.S. Treasury Secretary Steven Mnuchin said on Sunday the U.S. trade war with China is "on hold" after the world's two largest economies agreed to drop their tariff threats while they work on a wider trade agreement.
* Orders for nearly 1 million tonnes of U.S. soybean exports were cancelled last week, according to U.S. government data, as cheap supplies from Brazil made U.S. cargoes less attractive to buyers.
* Rainy weather in the drought-hit Plains wheat belt pressured prices for the grain while concerns about rain-delayed Midwest plantings underpinned corn as showers chased farmers from fields on Monday.
MARKET NEWS
* The dollar traded below a five-month high against a basket of currencies on Tuesday, catching its breath after a broad rally inspired by rising U.S. bond yields and relief at an easing of U.S.-China trade tensions.
* Oil prices rose on Tuesday amid worries that Venezuela's crude output could drop further following a disputed presidential election in the country and with potential sanctions on the OPEC-member.
* U.S. stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent.
DATA AHEAD (GMT)
1400 U.S. Richmond Fed composite index May
Grains prices at 0142 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 506.25 -1.00 -0.20% -2.32% 500.77 51 CBOT corn 401.75 -1.00 -0.25% -0.19% 397.98 58 CBOT soy 1022.25 -3.00 -0.29% +2.38% 1034.53 54 CBOT rice 12.23 -$0.01 -0.04% -0.81% $12.91 31 WTI crude 72.50 $0.26 +0.36% +1.71% $69.20 73
Currencies
Euro/dlr $1.178 -$0.001 -0.05% +0.08% USD/AUD 0.7583 0.000 +0.03% +0.96%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Colin Packham; editing by Richard Pullin) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/21/reuters-america-grains-u-s-soybeans-edge-down-from-11-day-high-on-usda-planting-report.html |
(Reuters) - Jelena Ostapenko stormed into the third round of the Italian Open on Tuesday with a dominant 6-2 7-5 victory over China’s Zhang Shuai on a rain-delayed day in Rome.
Tennis - WTA Premier 5 - Italian Open - Foro Italico, Rome, Italy - May 15, 2018 Latvia's Jelena Ostapenko in action during her second round match against China's Shuai Zhang REUTERS/Tony Gentile The Latvian was at her formidable best, with Zhang unable to deal with her opponent’s raw power from the baseline as she succumbed in an hour and 10 minutes in Rome.
Ostapenko, the reigning French Open champion, struck 27 winners to Zhang’s 10, as she chalked up her 11th claycourt victory in her past 13 matches stretching back to last season.
The fifth seed will face either Britain’s Johanna Konta or Taiwan’s Hsieh Su-wei for a place in the quarter-finals.
Tennis - WTA Premier 5 - Italian Open - Foro Italico, Rome, Italy - May 15, 2018 China's Shuai Zhang in action during her second round match against Latvia's Jelena Ostapenko REUTERS/Tony Gentile Russia’s Maria Sharapova also started with a victory, beating 16th seed Ashleigh Barty 7-5 3-6 6-2 to set up a second-round encounter with Dominika Cibulkova.
Sharapova, a three-times champion in Rome, was given a stern examination by the 22-year-old Australian, and fought her way back from 0-40 down to save serve in the decider before breaking her opponent and running away with the match.
Tennis - WTA Premier 5 - Italian Open - Foro Italico, Rome, Italy - May 15, 2018 Russia's Maria Sharapova during her first round match against Australia's Ashleigh Barty REUTERS/Alessandro Bianchi “I think it was a really good way to end the match, to get that win, to take care of those break points when it mattered, to save the break points on my serve,” Sharapova said.
“I felt like there’s a lot of positives at the end of that match.”
Former world number one Angelique Kerber was also made to work hard against lucky loser Zarina Diyas before prevailing 6-2 7-6(6).
Kerber, seeded 11th, was making her first return to action since retiring from the Stuttgart Open last month with a thigh strain.
“After Stuttgart it was a really tough time because I had a lot of pain in my leg, and now I can say I was without pain the whole match and I could play my game like I practiced the past few days,” Kerber said after her victory.
France’s Kristina Mladenovic was forced to retire due to injury while trailing Anastasija Sevastova 6-3 3-0, while defending champion Elina Svitolina barely broke a sweat as she saw off Petra Martic 6-1 6-2 to enter the last-16.
Reporting by Simon Jennings in Bengaluru; Editing by Toby Davis
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/us-tennis-rome-women/ostapenko-powers-into-italian-open-third-round-idUSKCN1IG3AF |
RYE, N.Y.--(BUSINESS WIRE)-- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.11 per share for each of July, August, and September 2018.
The distribution for July 2018 will be payable on July 24, 2018 to common shareholders of record on July 17, 2018.
The distribution for August 2018 will be payable on August 24, 2018 to common shareholders of record on August 17, 2018.
The distribution for September 2018 will be payable on September 21, 2018 to common shareholders of record on September 14, 2018.
Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. If necessary, the Fund will pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The Fund’s distribution policy is subject to modification by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject up to the maximum federal income tax rate, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.
If the Fund does not generate sufficient earnings (dividends and interest income and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.
Long-term capital gains, qualified dividend income, ordinary income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2018 would include approximately 19% from net investment income, 29% from net capital gains and 52% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website ( www.gabelli.com ). The final determination of the sources of all distributions in 2018 will be made after year end and can vary from the monthly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2018 distributions in early 2019 via Form 1099-DIV.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding the Fund’s distribution policy and other information about the Fund is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com .
The Gabelli Dividend & Income Trust is a diversified, closed-end management investment company with $2.6 billion in total net assets whose primary investment objective is to provide a high level of total return with an emphasis on dividends and income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
View source version on businesswire.com : https://www.businesswire.com/news/home/20180517005796/en/
The Gabelli Dividend & Income Trust
Carter Austin
Laurissa Martire
(914) 921-5070
Source: The Gabelli Dividend & Income Trust | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/business-wire-gabelli-dividend-income-trust-continues-monthly-distributions-declaring-distributions-of-0-point-11-per-share.html |
BEIRUT, May 16 (Reuters) - The organiser of Beirut Pride said he was detained overnight by Lebanese authorities who released him only when he signed a pledge to cancel the week’s remaining events.
Lebanon became the first Arab country to hold a gay pride week last year, though the opening event was cancelled due to safety concerns after threats of violence.
This year’s pride week began on May 12 and was due to run until May 20.
Lebanon is widely seen as more socially liberal than most other Arab countries, but lesbian, gay, bisexual and transgender people say they are still discriminated against by state and society.
In a statement on the Beirut Pride website, organiser Hadi Damien said security services turned up late on Tuesday at a public reading of a theatre play. Damien said he was taken to a police station overnight and questioned.
Damien said he was asked to sign a pledge promising to cancel upcoming events and in return he would be released.
The Interior Ministry said it was unable to provide immediate comment.
Damien said he was told that if he refused to sign the pledge, he would be “referred to the investigation judge who will interrogate me on the basis of articles pertaining to the incitement to immorality and to the breach of public morality for coordinating the activities.”
On legal advice, Damien signed the pledge, he said in the statement. Lebanon’s laws prohibit “unnatural” sex, without giving further definition, which has been used to criminalise gay sex. Last year a Lebanese judge said same-sex relations do not contradict laws of nature, a move welcomed by rights activists.
Damien also said the public prosecution had received an Arabic version of the Beirut Pride programme which was “completely distorted, making the happenings of Beirut Pride appear like events of debauchery, disrespect of general law, while using derogatory terms to refer to LGBT individuals.” (Reporting by Lisa Barrington Editing by Raissa Kasolowsky)
| ashraq/financial-news-articles | https://www.reuters.com/article/lebanon-lgbt/beirut-pride-cancelled-after-organiser-held-overnight-by-authorities-idUSL5N1SN197 |
May 9 (Reuters) - GCI Liberty Inc:
* GCI LIBERTY REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS * QTRLY TOTAL REVENUE $225.323 MILLION VERSUS $216.393 MILLION
* QTRLY DILUTED NET LOSS PER SHARE $1.58 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-gci-liberty-reports-qtrly-diluted/brief-gci-liberty-reports-qtrly-diluted-net-loss-per-share-1-58-idUSASC0A154 |
May 21, 2018 / 2:25 PM / Updated 14 minutes ago Meghan and Harry release official photos of their UK royal wedding Prince Harry and his wife Meghan on Monday thanked all those involved in their lavish wedding at the weekend as they released official photographs from their big day. This official wedding photograph released by the Duke and Duchess of Sussex shows The Duke and Duchess in The Green Drawing Room, Windsor Castle, with (left-to-right): Back row: Master Jasper Dyer, the Duchess of Cornwall, the Prince of Wales, Ms. Doria Ragland, The Duke of Cambridge; middle row: Master Brian Mulroney, the Duke of Edinburgh, Queen Elizabeth II, the Duchess of Cambridge, Princess Charlotte, Prince George, Miss Rylan Litt, Master John Mulroney; Front row: Miss Ivy Mulroney, Miss Florence van Cutsem, Miss Zalie Warren, Miss Remi Litt. Saturday May 19, 2018. Alexi Lubomirski/Handout via Reuters
Harry and Meghan, now officially known as the Duke and Duchess of Sussex, tied the knot on Saturday at Windsor Castle, Queen Elizabeth’s home to the west of London, in a splendid display of British royal pomp and ceremony.
“The Duke and Duchess of Sussex would like to thank everyone who took part in the celebrations of their wedding on Saturday,” Harry’s office Kensington Palace said in a statement.
“They feel so lucky to have been able to share their day with all those gathered in Windsor and also all those who watched the wedding on television across the UK, Commonwealth, and around the world.”
The couple also issued three official portrait pictures taken by Alexi Lubomirski.
One shows the couple pictured in the castle’s Green Drawing Room flanked by Meghan’s mother, Doria Ragland, and Harry’s father, the heir-to-the-throne Prince Charles.
It also includes the 92-year-old queen and her husband Prince Philip, 96, sitting alongside, together with Harry’s elder brother Prince William, his wife Kate and Charles’s second wife Camilla.
A second has just the couple with the bridesmaids and page boys, including beaming a Prince George and Princess Charlotte, two of William’s young children. The third was a black and white picture of the newlyweds taken on the castle’s East Terrace. This official wedding photograph released by the Duke and Duchess of Sussex shows The Duke and Duchess in The Green Drawing Room, Windsor Castle, with (left-to-right): Back row: Master Brian Mulroney, Miss Remi Litt, Miss Rylan Litt, Master Jasper Dyer, Prince George, Miss Ivy Mulroney, Master John Mulroney. Front row: Miss Zalie Warren, Princess Charlotte, Miss Florence van Cutsem, May 19, 2018. Picture taken May 19, 2018. Alexi Lubomirski/Handout via Reuters Reporting by Michael Holden; Editing by Alistair Smout | ashraq/financial-news-articles | https://in.reuters.com/article/us-britain-royals-wedding/meghan-and-harry-release-official-photos-of-their-uk-royal-wedding-idINKCN1IM1IA |
LONDON (Reuters) - Prince Harry and Meghan Markle’s wedding cake has taken six bakers five days to prepare and breaks with tradition, according to its designer Claire Ptak.
Harry, Queen Elizabeth’s grandson, and U.S. actress Markle will tie the knot on Saturday in Windsor Castle’s 15th-century St George’s Chapel.
Ptak said her design was more of an “installation” than a typical wedding cake, but offered few details.
The couple decided to buck the royal tradition for fruitcake and instead opted for a lemon and elderflower creation with buttercream icing, topped with fresh flowers.
Harry and Meghan chose lemon and elderflower because they wanted to enjoy flavours that are in season, Ptak said.
Claire Ptak, owner of Violet Bakery in Hackney, east London, poses for a portrait with a tier of the cake for the wedding of Prince Harry and Meghan Markle in the kitchens at Buckingham Palace in London, Britain, May 17, 2018. REUTERS/Hannah McKay/Pool “When I was first asked to present an idea for the cake I brought a selection of flavours and designs and they made a decision together as couple,” Ptak told the BBC.
“You have a really lovely kind of thing happening when you take a bite, which is to get all of those flavours and sensations that are perfectly balanced.”
Ptak is originally from California and worked at Chez Panisse in Berkeley under chef Alice Waters before moving to London. She started her own business cooking at home and selling cakes on a stall in east London’s Broadway Market.
Slideshow (4 Images) “It is obviously such an honour to be asked to do this because for me I have been baking since I was a little kid and this is my dream,” she said.
Reporting by Andrew MacAskill; editing by Andrew Roche
| ashraq/financial-news-articles | https://in.reuters.com/article/britain-royals-wedding-cake/harry-and-meghans-cake-will-break-with-tradition-says-royal-wedding-baker-idINKCN1II33L |
May 23, 2018 / 4:31 AM / Updated 38 minutes ago UPDATE 1-Vietnam's Techcombank readies for market debut after raising $922 mln Reuters Staff
* Plan to list June 4 on the Ho Chi Minh Stock Exchange
* Techcombank to be the 7th biggest firm by market value
* Aims to grow retail banking business (Recasts with details, quotes)
By Mai Nguyen
HANOI, May 23 (Reuters) - Vietnamese lender Techcombank will list its shares on the Ho Chi Minh Stock Exchange next month, the bank said on Wednesday, making it the country’s seventh biggest firm by market value.
Techcombank raised $922 million last month in one of the country’s biggest initial public offerings. Its cornerstone investors are Singapore sovereign wealth fund GIC, Fidelity Management and Research, and local fund Dragon Capital.
The Hanoi-based lender said it would list on June 4 at a reference price of 128,000 dong ($5.62), valuing the bank at $6.5 billion and making it Vietnam’s second-biggest listed bank after state-controlled Vietcombank.
The shares will be allowed to move 20 percent higher or lower than the reference price on the first day of listing, according to exchange trading rules.
Techcombank provides a broad range of banking products and services to more than 5.4 million customers in Vietnam through a network of 315 branches.
The bank’s Chief Executive Officer Nguyen Le Quoc Anh said 2018 was a year of robust activity for Vietnam’s stock market as the economy showed strong growth momentum.
“We believe this is a suitable time to list Techcombank after two years of preparation,” he said in a statement.
Techcombank aimed to increase retail lending to 50-55 percent of total loans, up from 40 percent, in the coming years, while reducing the proportion of corporate loans, said Nguyen Xuan Minh, chairman of Techcombank Securities and head of Techcombank’s investment banking division.
The bank aimed to increase its registered capital by nearly three times this year to better compete with regional rivals.
“As the ASEAN Economic Community forms, our competitors are not only local banks but also banks from Thailand, Malaysia, Singapore. That’s our goal,” Quoc Anh told reporters on Wednesday, referring to the group of Southeast Asian nations.
Foreign investors own 22.5 percent of Techcombank. Vietnam limits foreign ownership in local banks to 30 percent. $1 = 22,770 dong Reporting by Mai Nguyen Editing by Darren Schuettler | ashraq/financial-news-articles | https://www.reuters.com/article/techcombank-listing/update-1-vietnams-techcombank-readies-for-market-debut-after-raising-922-mln-idUSL3N1SU1WZ |
May 14, 2018 / 8:11 PM / Updated 34 minutes ago U.S. senators oppose trade group's lawyer as consumer watchdog Reuters Staff 2 Min Read
WASHINGTON (Reuters) - The U.S. Federal Trade Commission should delay a vote to name its top consumer advocate, three Democratic U.S. senators said on Monday, citing the appointee’s work for Equifax, Facebook, Uber [UBER.UL] and other companies the FTC has probed.
The FTC is considering making Andrew Smith, a partner at Covington and Burling, LLP, head of its consumer protection bureau. Smith has worked for the Consumer Data Industry Association, whose members include credit reporting companies like Equifax, which is under FTC scrutiny following a massive data breach last year.
Democratic Senators Elizabeth Warren, Richard Blumenthal and Brian Schatz said in a letter that Smith’s prior work, and the likelihood that he would be recused from big FTC investigations, meant he was “unfit and unable to function as the FTC’s top consumer advocate.”
“Mr. Smith has every right to represent corporations that have harmed consumers, and those companies have every right to be represented by Mr. Smith,” the lawmakers wrote in the letter to FTC Chairman Joseph Simons. “It is impossible to believe that the best candidate (to head consumer protection) is someone with a long record of representing companies that have been accused of hurting consumers.”
The lawmakers asked the commissioners to delay a vote on Smith while they dug into his past work, and potential conflicts of interest.
In addition to the Equifax probe, the FTC is also reviewing whether Facebook violated a 2011 FTC consent decree over its privacy practices following allegations that Cambridge Analytica improperly gained access to user data for 50 million people without users being notified.
Uber has settled with the FTC over a 2016 cybersecurity hack and over allegations that it misled drivers about potential earnings.
Smith declined comment. The FTC declined comment. Reporting by Diane Bartz; Editing by David Gregorio | ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-ftc-equifax-smith/u-s-senators-oppose-trade-groups-lawyer-as-consumer-watchdog-idUSKCN1IF2T7 |
JERUSALEM (Reuters) - Israeli dockworkers on Sunday ended a three-day strike that had shut down the country’s two main seaports after a court ordered them back to work.
Officials at the Mediterranean ports of Ashdod and Haifa said operations had resumed and that cargo ships were once again being unloaded.
The workers had protested against the creation of competing foreign-run docks.
The government, frustrated by labour disputes that have disrupted Israel’s trade arteries for years, gave the green light in 2013 to build new terminals next to the state-run ports of Ashdod and Haifa.
Union leaders have been negotiating with the government over new employment terms given the looming competition.
China’s Shanghai International Port Group will operate a private port in Haifa and Swiss-based Terminal International Ltd (TIL) will run a port to the south in Ashdod.
The government says the new ports will lower the cost of goods across the board.
Reporting by Ari Rabinovitch; Editing by Tova Cohen
| ashraq/financial-news-articles | https://www.reuters.com/article/us-israel-ports-strike/israeli-seaports-reopen-as-workers-end-strike-idUSKCN1IE07I |
We've been here before — and pretty recently at that — and it led to frustration: Stocks are bouncing nicely off the bottom of their months-long trading range and are making a run higher.
The bulls are talking about an uptrend preserved and strong corporate fundamentals, while skeptics wonder why stocks have struggled despite all the good news and cite a tired, aging economic cycle.
The S&P 500 index is up some 4 percent in less than two weeks and is 6 percent above its early-April low. This spurt higher has taken the index from the lower reaches of its correction zone up past the midpoint of its 2018 range for the third time since February. Those two earlier upside excursions stalled and the market slunk back toward the "down 10 percent from a record high" level.
So can this rally be trusted?
It actually looks more reliable than the previous attempts. It got rolling from slightly higher levels, after several weeks when the market hung around the lows but refused to buckle beneath its longer-term rising trend.
The choppy, anxious period went on long enough that the market absorbed several shifting and sometimes conflicting negative storylines, from the chance for surging bond yields and galloping inflation to a rollover in global growth to possible trade war and blowup in popular volatility-trading funds.
More important, the market's vital signs have returned to normal in this rally attempt. The Cboe Volatility Index ( VIX ) is below 13, a tame level that suggests a steadier tape, compared with 15 or higher during those earlier market bounces.
The best corporate-earnings season in years is mostly in the books. The results show impressive evidence of corporate prosperity and bolster the earnings base for valuation purposes, making equities look a good deal less expensive than they did a few months ago. The S&P 500 now trades at 16.5-times the consensus earnings forecast for the next 12 months, down from 18.6-times in late January.
This doesn't exactly make stocks a bargain, but it helps compensate for the rise in bond yields. Stocks during this cycle have never had a smaller valuation cushion compared with corporate-debt yields, but that cushion is a good deal higher than it was throughout the 1990s and mid-2000s.
The wind-down of earnings season also releases companies to restart their heavy share-buyback activity. This is perhaps at least as much a psychological aid as a powerful direct source of buying demand, but in the current backdrop it helps investors feel more comfortable shouldering market risk.
The passage of more than three months' time with the indexes trading well below their peak also worked to reset investor sentiment and positioning to a more defensive condition. Bullishness among retail and professional investors has moderated. And hedge funds as a group have reduced their equity exposure dramatically since January.
On the flip side, the Wall Street dealer firms considered the "smart money" — which accommodate hedge-fund positions and take the other side of their trades — now have a bigger long position in S&P 500 index futures than they've had in two years.
The leadership profile of the market looks decent, too. Technology, industrials, energy and financials are outperforming lately — the cyclically attuned groups that a bull would want to see lead.
The small-cap Russell 2000 is also on the verge of a new high, buoyed in part by its domestic-consumer components. While small stocks have no special predictive power for the broad market, their improved relative strength lately is at least assurance that this rally attempt is not simply the work of a handful of big tech stocks, which now have such huge sway over the large-cap indexes.
This all probably sounds comforting, and should. Yet it together leads to more confidence that the recent lows would provide decent support than that an exuberant rush higher is underway.
This is why some longtime market observers are reserving a full endorsement of this rally's staying power, or its chances to continue its run toward the January highs right away.
Chart watchers who are sticklers for "key levels" believe the S&P 500 will not truly have turned the near-term trend positive unless and until it gets back above the 2,750 mark (from which it dropped hard in mid-March and hasn't revisited since).
Jeff deGraaf, a strategist at Renaissance Macro Advisors, sees the market in a healthier spot and likely to work its way higher from this correction phase. But he's unimpressed by the relatively weak momentum displayed in the latest move higher. He watches for the number of 20-day highs in individual stocks to expand as the index rises, and that has not happened in recent days. He sees this as a more selective tape consistent with "late-cycle" market conditions.
Strategists at Morgan Stanley are also focused on the status of the broader cycle, and what it means for investor returns at a time when Main Street is thriving and labor markets are tight: "After nine years of markets outperforming the real economy, we think the opposite now applies as policy tightens."
And, of course, it's possible stocks will again be challenged by some features of this stage of the cycle, whether another push higher in yields, the Federal Reserve methodically lifting rates, inflation picking up or corporate profit-margins coming under pressure.
In other words, in Ronald Reagan's famous phrasing, trust this rally for now, but verify its fortitude as new tests emerge, as they surely will. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/15/the-latest-stock-market-rally-seems-trustworthy-for-now.html |
* Canadian dollar at C$1.2853, or 77.80 U.S. cents
* Price of oil falls 1.1 percent
* Bond prices higher across the yield curve
TORONTO, April 30 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Monday as oil prices fell and the greenback broadly rose. The price of oil, one of Canada's major exports, dipped after a rising rig count in the United States pointed to higher
production there. U.S. crude prices were down 1.1 percent
at $67.34 a barrel.
The U.S. dollar climbed against a basket of major
currencies as weaker-than-expected German retail sales knocked euro zone sentiment. At 9:10 a.m. EDT (1310 GMT), the Canadian dollar was trading 0.2 percent lower at C$1.2853 to the greenback, or 77.80 U.S. cents. The currency traded in a range of C$1.2833 to C$1.2873. The loonie hit a three-week low intraday on Friday at C$1.2900, pressured by recent comments from the Bank of Canada that were seen as dovish, and as the rise in U.S. Treasury yields boosted the greenback. Canadian producer prices increased by 0.8 percent in March from February on higher prices of energy and petroleum products as well as paper and pulp, Statistics Canada said on Monday.
Canadian gross domestic product data for February is due on Tuesday and March trade data is due on Thursday. Canadian government bond prices were slightly higher across
the yield curve, with the two-year up 1 Canadian cent to yield 1.894 percent and the 10-year rising 5
Canadian cents to yield 2.319 percent. Canada's stock exchange, the world's sixth-largest, will reopen on Monday after its operator said at the weekend it had fixed the error that halted the market for several hours on Friday afternoon.
(Reporting by Fergal Smith Editing by Susan Thomas) | ashraq/financial-news-articles | https://www.cnbc.com/2018/04/30/reuters-america-canada-fx-debt-c-slips-against-stronger-greenback-as-oil-prices-fall.html |
May 11, 2018 / 9:46 AM / Updated an hour ago Olympics-Tokyo Games golf venue admits first female members after criticism Jack Tarrant 2 Min Read
TOKYO, Japan, May 11 (Reuters) - The club scheduled to stage the golf tournament during the 2020 Tokyo Games has granted three women full memberships after being warned that it could be stripped as an Olympic host if it does not change its discriminatory policy.
The exclusive Kasumigaseki Country Club scrapped its male-only membership in March 2017 after the International Olympic Committee (IOC) stated it would find another venue if the policy remained in place.
The club said on Friday that it had granted three women equal membership rights as their male counterparts for the first time in four decades.
“This May is the first time we have accepted full membership after changing our rules,” club general manager Hiroshi Imaizumi said.
Until the rule change, Kasumigaseki allowed women to play at the course but they were not allowed to become full members or play on certain Sundays, unlike male members.
The Saitama venue is scheduled to host both men’s and women’s tournaments in July and August 2020.
Several notable golf clubs have changed their policies to allow female members in recent years.
In 2014, the Royal and Ancient Golf Club of St Andrews decided to allow women to join following 260 years of exclusion, after Augusta National, home of the U.S. Masters, had ended its men-only membership two years earlier.
Earlier this year, Muirfield voted to admit women members, scrapping a policy that led to the historic Scottish links course being stripped of its eligibility to host the British Open. (Reporting by Jack Tarrant, editing by Pritha Sarkar) | ashraq/financial-news-articles | https://uk.reuters.com/article/olympics-2020-golf/olympics-tokyo-games-golf-venue-admits-first-female-members-after-criticism-idUKL8N1SI26H |
May 29, 2018 / 10:16 AM / Updated 3 minutes ago Scotiabank beats profit expectations, market underwhelmed Matt Scuffham 3 Min Read
TORONTO (Reuters) - Strong performances by its domestic and international arms helped Bank of Nova Scotia ( BNS.TO ) deliver second-quarter earnings which were modestly ahead of market expectations on Tuesday. FILE PHOTO: A woman leaves a Scotiabank branch in Ottawa, Ontario, Canada on May 31, 2016. REUTERS/Chris Wattie/File Photo
Rivals Royal Bank of Canada ( RY.TO ), Toronto-Dominion Bank ( TD.TO ) and Canadian Imperial Bank of Commerce ( CM.TO ) have all reported results which were ahead of the market this quarter and analysts were underwhelmed by the scale of Scotiabank’s beat.
“This bank-reporting-quarter 2 percent beats have been largely yawned at by the market,” said Eight Capital analyst Steve Theriault. “We don’t expect these results will be enough to move the needle.”
Shares in Scotiabank were down 2.7 percent at 1015 ET.
The bank, Canada’s third-biggest lender, said it earned C$1.70 per share for the quarter to March 31, compared with C$1.62 a year earlier. Analysts on average expected C$1.67, according to Thomson Reuters I/B/E/S data.
Barclays analyst John Aiken said Scotiabank’s performance was at a level below what peers have reported to dates.
“We would not be surprised to see some relative underperformance from Scotia today,” he said.
Like other Canadian lenders, Scotiabank has benefited from the Bank of Canada raising interest rates three times since July, increases that helped offset slower mortgage growth after Canada’s banking regulator introduced stricter lending rules in January.
The regulations require stress-testing of borrowers taking out uninsured mortgages to determine their ability to make payments at a rate 200 basis points above their contracted mortgage.
Still, mortgage sales grew by 6 percent in the year to date, the bank’s Canadian banking head, James O’Sullivan, told analysts. He reiterated the bank’s target for mid-single digit growth for the whole year.
“It’s steady as she goes on the mortgage side,” he said.
The bank reported net income for the quarter of C$2.2 billion ($1.7 billion), compared with C$2.1 billion a year earlier. That included a 5 percent increase in net income at its domestic business to C$1 billion, helped by improved margins.
CEO Brian Porter said the bank had achieved double-digit earnings growth at its international business, where it is focusing its expansion on the Pacific Alliance trading bloc, which comprises Peru, Mexico, Chile and Colombia.
The bank recently announced acquisitions in Chile, Colombia and Peru.
Scotiabank’s core Tier 1 capital ratio, a key measure of its financial strength, rose to 12 percent during the quarter, the highest of Canada’s biggest banks. However, Chief Financial Officer Sean McGuckin said on a conference call with analysts that it is likely to fall to around 11 percent by the fourth quarter when the recently announced acquisitions are completed. Reporting by Matt Scuffham; Editing by Steve Orlofsky and Phil Berlowitz | ashraq/financial-news-articles | https://www.reuters.com/article/us-scotiabank-results/scotiabank-second-quarter-earnings-beat-market-expectations-idUSKCN1IU14B |
* Shanghai stocks flat, blue-chip CSI300 index up
* Gains in Shanghai stocks led by Whirlpool and losses by Asia Cuanon Technology
* China’s A-shares are at a 20.21 percent premium over H-shares
SHANGHAI, May 2 (Reuters) - China stocks ended Wednesday roughly flat as investors returning from the Labour Day holiday braced for trade talks between U.S. and Chinese officials amid worries about economic health.
** The blue-chip CSI300 index rose 0.2 percent, to 3,763.65, while the Shanghai Composite Index ended flat at 3,081.18 points. ** Senior U.S. and Chinese officials will hold trade talks from Thursday in China, as Washington threatens to impose tariffs on up to $150 billion of Chinese imports and Beijing vowed to retaliate. ** Investors are also concerned over the health of China’s economy. “Despite a solid Q1, we still see some concerns and expect more downward pressure on bottomline growth in the next few quarters,” Gao Ting, head of China Strategy at UBS Securities, wrote. ** The blue-chip CSI300 index was up, with its financial sector sub-index higher by 0.05 percent, the consumer staples sector up 0.38 percent, the real estate index down 0.4 percent and healthcare sub-index up 0.52 percent. ** The smaller Shenzhen index ended down 0.07 percent and the start-up board ChiNext Composite index was weaker by 0.22 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.14 percent, while Japan’s Nikkei index closed down 0.16 percent . ** At 07:07 GMT, the yuan was Quote: d at 6.3624 per U.S. dollar, 0.5 percent weaker than the previous close of 6.331. ** The largest percentage gainers in the main Shanghai Composite index were Whirlpool China Co Ltd up 10.07 percent, followed by Shanghai Kaichuang Marine International Co Ltd gaining 10.01 percent and Tibet Rhodiola Pharmaceutical Holding Co up by 10 percent. ** The largest percentage losers in the Shanghai index were Asia Cuanon Technology Shanghai Co Ltd down 10.02 percent, followed by Huayi Electric Co Ltd losing 10.02 percent and Wenyi Suntech Co Ltd down by 10.02 percent. ** About 13.42 billion shares were traded on the Shanghai exchange, roughly 85.2 percent of the market’s 30-day moving average of 15.75 billion shares a day. ** As of 07:07 GMT, China’s A-shares were trading at a premium of 20.21 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 13.25 as of the last full trading day while the dividend yield was 2.3 percent. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)
| ashraq/financial-news-articles | https://www.reuters.com/article/china-stocks-close/china-shares-close-roughly-flat-ahead-of-sino-u-s-trade-talks-idUSZZN2RAF00 |
NEW YORK (Reuters) - U.S. crude oil production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Monday.
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing, Oklahoma, U.S., March 24, 2016. REUTERS/Nick Oxford/File Photo Production in Texas rose by 106,000 bpd to above 4 million bpd, also a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield.
Output from North Dakota declined marginally to 1.15 million bpd, while output in the federal Gulf of Mexico rose by 89,000 bpd to 1.72 million bpd.
The agency also revised January U.S. oil production up by 40,000 bpd to about 10.004 million bpd.
U.S. natural gas production in the lower 48 states rose to an all-time high of 87.6 billion cubic feet per day (bcfd) in February, up from the prior record of 87.3 bcfd in December, according to EIA’s 914 production report.
Output in Texas, the nation’s largest gas producer, increased 1.5 percent in February to 22.4 bcfd, the most since December.
In Pennsylvania, the second biggest gas producer, production increased 2.1 percent to a record high 16.4 bcfd in February. That compares with 15.0 bcfd in the same month a year ago.
Total oil demand in February was up 2.4 percent, or 460,000 bpd, to 19.62 million bpd versus last year, EIA data showed, as strong demand for distillates helped soften weakness in gasoline demand.
Distillate demand in February was up 1.5 percent, or 57,000 bpd, to 3.96 million bpd versus last year, EIA data showed.
Gasoline demand in February was down 1.9 percent, or 169,000 bpd, to 8.81 million bpd, EIA data showed. Gasoline demand was up 2.8 percent year-over-year in January.
Reporting by Devika Krishna Kumar and Scott DiSavino in New York; Editing by Marguerita Choy
| ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-oil-production/u-s-crude-output-jumps-to-record-10-26-million-bpd-in-feb-eia-idUSKBN1I11SJ |
Accused rapist Weinstein released on bail 7:56pm IST - 00:54
Film producer Harvey Weinstein was released on a million dollars bail and ordered to wear an electronic monitor by a New York judge on Friday. He had earlier surrendered to police on charges of rape and sex abuse. Rough Cut (no reporter narration). ▲ Hide Transcript ▶ View Transcript
Film producer Harvey Weinstein was released on a million dollars bail and ordered to wear an electronic monitor by a New York judge on Friday. He had earlier surrendered to police on charges of rape and sex abuse. 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/2INO7wc | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/25/accused-rapist-weinstein-released-on-bai?videoId=430221880 |
May 2 (Reuters) - Enerzent Co Ltd :
* Says it lowered conversion price of 13th series convertible bonds to 3,895 won/share from 4,837 won/share, effective May 2
Source text in Korean: goo.gl/LMV9Jx
Further company coverage: (Beijing Headline News)
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-enerzent-lowers-conversion-price-o/brief-enerzent-lowers-conversion-price-of-13th-series-convertible-bonds-to-3895-won-share-idUSL3N1S92NC |
May 18 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
The owner of Carluccio's, Dubai-based Landmark Group, has promised to pump 10 million pounds ($13.52 million) of new investment into the restaurant chain if a company voluntary arrangement is approved. bit.ly/2Ivg8sE
Senior staff from the Big Four accounting firms have been shunned by John Kingman as he hires experts to advise him on his review into the future of the accounting regulator. Kingman will on Friday name an 11-person advisory panel, which is to examine the Financial Reporting Council. bit.ly/2IOCeFG
The Guardian
The European Union has put itself on a collision course with the United States over Donald Trump's decision to withdraw from the nuclear deal with Iran, as major European firms started to pull out of the country to avoid being hit by sanctions. bit.ly/2Iq7fQR
A smaller proportion of UK workers are low paid than at any time since the early 1980s, due to above-inflation increases in the government's national living wage, according to a report by the Resolution Foundation thinktank. bit.ly/2Is9zXs
The Telegraph
PayPal Holdings Inc is swooping for Swedish payments start-up iZettle in a $2.2bn all-cash deal, as it seeks to create a "one-stop shop" for transactions. bit.ly/2Iq9S5e
The international cable giant Liberty Global Plc has launched a hunt for a new leader for its British operation Virgin Media, to work alongside Chief Executive Tom Mockridge as he prepares to step down. bit.ly/2IrM1Cf
Sky News
Ocado Group Plc has signed an exclusive partnership with second-biggest U.S. supermarket chain Kroger Co - sending the UK online grocer's shares to record levels. bit.ly/2IN0N5L
The UK government is to clamp down on the "social blight" of fixed-odds betting terminals by cutting the maximum amount people can stake on the machines to 2 pounds. bit.ly/2IrwJ0m
The Independent
The number of apprenticeship starts in Britain dropped 40 percent year on year in February, according to the most recent available statistics from the government. ind.pn/2IPk3zC ($1 = 0.7399 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)
| ashraq/financial-news-articles | https://www.reuters.com/article/britain-press-business/press-digest-british-business-may-18-idUSL2N1SP017 |
May 16, 2018 / 5:25 AM / Updated 24 minutes ago Novartis top lawyer exits in wake of Trump attorney deal John Miller 4 Min Read
ZURICH (Reuters) - Novartis ( NOVN.S ) General Counsel Felix Ehrat will leave the Swiss drugmaker over his role in a $1.2 million contract it struck with the personal lawyer for U.S. President Donald Trump, saying on Wednesday the pact was legal but an error. FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann/File Photo
The $100,000-per-month contract with Trump attorney Michael Cohen’s Essential Consultants, the same firm used to pay porn star Stormy Daniels $130,000 to hush up an alleged affair with Trump, has distracted Novartis’s efforts to improve its image after a series of bribery scandals.
Trump has denied the affair. Novartis ended the contract this year.
The contract was approved in early 2017 under the former Novartis chief executive Joe Jimenez and was part of its efforts to learn more about how the new Trump administration might approach certain U.S. healthcare policy matters.
U.S. lawmakers have demanded Novartis as well as AT&T ( T.N ), which also made payments to Cohen’s firm, provide details about their contracts. Ron Wyden, the top Democrat on the Senate Finance Committee, has called the transactions part of a “pay-to-play scheme” and initiated an investigation.
In a company statement ahead of an investor day on Wednesday, Ehrat acknowledged that he signed the contract along with Joe Jimenez, who stepped down on Feb. 1 and was replaced by Vas Narasimhan. FILE PHOTO: U.S. President Donald Trump's personal lawyer Michael Cohen arrives at his hotel in New York City, U.S., May 9, 2018. REUTERS/Brendan McDermid
“Although the contract was legally in order, it was an error,” Ehrat said. “As a co-signatory with our former CEO, I take personal responsibility to bring the public debate on this matter to an end.”
Novartis has sought to distance Narasimhan from the contract, saying he had nothing to do with it. It said on Wednesday that the board was not aware of the contract with Cohen.
“We also have made mistakes recently and the world rightly expects more from a leading healthcare company,” Narasimhan said. “Our new executive team and I have a deep commitment to ensure we always operate with the highest integrity and sound judgment and will work hard to rebuild lasting trust with society.”
Since 2015, Novartis has paid out hundreds of millions in settlements and fines as a result of kickback allegations in South Korea, the United States and China and faces an investigation of alleged bribery in Greece. A trial for another bribery case has been scheduled for 2019 in the United States.
Novartis shareholders have urged Narasimhan and other executives to exert more "moral influence" over perceived ethical shortcomings that Jimenez in 2016 blamed on a "results-oriented" sales culture and some bad actors. [ reut.rs/2Ipdn83 ]
Ehrat will be replaced by Shannon Klinger, who is currently chief ethics officer. Narasimhan elevated Klinger to the executive committee this year as he made cultural change a priority.
At the meeting with investors, Narasimhan highlighted an extensive pipeline of new medicines that it believes have $1-billion-plus annual sales potential, placing it on track to grow sales and expand profit margins through 2022.
At the same time, the company will consider pruning non-core operations, including its U.S. generic pills business, while weighing further bolt-on acquisitions to strengthen its drug portfolio in key areas.
Priority areas for additional deals include cancer medicine, cell and gene therapies, and digital and data science.
Last month Narasimhan placed a big bet on gene therapy with an $8.7 billion deal to acquire AveXis ( AVXS.O ). Additional reporting by Ben Hirschler in London; Editing by Michael Shields and Louise Heavens | ashraq/financial-news-articles | https://uk.reuters.com/article/us-usa-trump-daniels-novartis/novartis-top-lawyer-exits-over-payment-to-trump-lawyer-idUKKCN1IH0EX |
May 10, 2018 / 7:21 PM / Updated 15 minutes ago Harvey Weinstein's estranged wife says accusations sickened her Reuters Staff 2 Min Read
LOS ANGELES (Reuters) - The estranged wife of producer Harvey Weinstein, designer Georgina Chapman, on Thursday broke her silence on accusations of sexual misconduct against him, saying they sickened her. FILE PHOTO: Harvey Weinstein and wife Georgina Chapman ararrive at the 89th Academy Awards in Hollywood, California, U.S., February 26, 2017. REUTERS/Mike Blake/File Photo
Chapman, co-founder of the Marchesa fashion label, told Vogue magazine in her first interview since the scandal broke last October, “I lost ten pounds in five days. I couldn’t keep food down.”
The accusations against Weinstein were first reported by the New York Times and New Yorker magazine.
“My head was spinning. And it was difficult because the first article was about a time long before I’d ever met him, so there was a minute where I couldn’t make an informed decision. And then the stories expanded and I realized that this wasn’t an isolated incident,” the British designer said.
On the day the New Yorker report was published, Chapman announced that she was leaving Weinstein, ending their 10-year marriage. The couple are in divorce proceedings.
More than 70 women have accused the Hollywood producer of sexual misconduct, including rape. Weinstein has denied engaging in nonconsensual sex.
A representative for Weinstein declined to comment on Chapman’s interview. Chapman’s representatives did not immediately respond to a request for comment.
Looking back, Chapman told Vogue, “I have moments of rage, I have moments of confusion, I have moments of disbelief. And I have moments when I just cry for my children.”
Marchesa was once one of the biggest fashion brands on red carpets at the Oscars and other celebrity events, but few celebrities have worn the label in the past eight months. Reporting by Jill Serjeant | ashraq/financial-news-articles | https://in.reuters.com/article/us-people-georgina-chapman/harvey-weinsteins-estranged-wife-says-accusations-sickened-her-idINKBN1IB2SG |
May 8, 2018 / 6:17 AM / Updated 15 minutes ago German industrial output rises more than expected
BERLIN (Reuters) - German industrial output rose more than expected in March, data showed on Tuesday, suggesting that factories in Europe’s largest economy ended the first quarter on a strong footing after two disappointing months. An employee of German car manufacturer Mercedes Benz works on the interior of a Mercedes S-Class (S-Klasse) at a production line at the Mercedes Benz factory in Sindelfingen, Germany, January 24, 2018. REUTERS/Ralph Orlowski
Data from the Economy Ministry showed output jumped by 1.0 percent, beating expectations in a Reuters poll for a 0.8 percent rise.
Separate data published by the Federal Statistics Office showed exports rose 1.7 percent in March while imports fell 0.9 percent.
This widened the seasonally adjusted trade surplus to 22 billion euros from a revised 19.4 billion euros in the previous month, the data showed. Analysts had expected a surplus of 19.8 billion euros. Reporting by Michael Nienaber; Editing by Madeline Chambers | ashraq/financial-news-articles | https://uk.reuters.com/article/us-germany-economy-industrialoutput/german-industrial-output-rises-more-than-expected-idUKKBN1I90HK |
May 9, 2018 / 10:53 AM / in 8 minutes UPDATE 2-Deutsche Telekom voices Vodafone-Liberty competition concerns Reuters Staff
* CEO: Deal would create cable monopoly in Germany
* To lobby regulator to ease burden on Deutsche Telekom
* Treads carefully as U.S. unit pitches Sprint deal (Adds Telefonica Deutschland, TV industry comments)
By Douglas Busvine
FRANKFURT, May 9 (Reuters) - Deutsche Telekom criticised Vodafone’s $21.8 billion deal to buy Liberty Global operations in continental Europe, but the German market leader stopped short of calling for regulators to block it.
Instead, CEO Tim Hoettges seized on Wednesday’s announcement to argue that regulation of Deutsche Telekom — which is required to open up its German fixed-line network to third parties at controlled prices — should be eased.
Hoettges had previously said such a deal would be “unacceptable”, triggering a public spat with Vodafone CEO Vittorio Colao.
But, with U.S. regulators now reviewing the $26 billion takeover of Sprint Corp by Deutsche Telekom’s T-Mobile US unit, playing the anti-trust card now seems less opportune.
“I personally will fight for fair competition for our customers, to ensure that we do not face a disadvantage, and can fight with the same weapons,” Hoettges told reporters after Deutsche Telekom reported first-quarter results.
The head of Telefonica Deutschland, the third largest mobile market player in Germany behind Telekom and Vodafone, also weighed in against the deal and called for it to be closely examined by the competition authorities.
“It’s clear that the announced transaction would create a monopoly in cable content distribution and a de facto duopoly in fixed-line infrastructure in Germany,” Chief Executive Markus Haas said. FAIR FIGHT
Hoettges added that, in light of the transaction, he would seek clarification on whether the restrictions that have applied to Deutsche Telekom for the last two decades in Europe’s biggest market can be eased.
Even if the Vodafone-Liberty deal does go through Telekom, which is still 31.9 percent state owned, would be assured of leadership in both German mobile and broadband.
Telekom has 40 percent of consumer broadband connections in Germany, while Vodafone and Liberty’s local unit Unitymedia would have a combined market share of 30 percent, figures from the VATM industry association show.
But, Telekom argues, its rival would enjoy an unfair advantage because it would have an effective cable TV monopoly. In contrast to Telekom, the cable players do not have to allow third party access to their networks.
The head of an industry association that represents 150 commercial broadcasters including ProSiebenSat.1 and RTL, and publisher Axel Springer, also called the deal worrisome.
“Ultimately they will be confronted by a massive shift in their negotiating position,” said Hans Demmel, the head of the VPRT broadcasters’ group who also runs all-news channel n-tv.
The deal risked undermining the economics of distributing TV content through cable at a time when competitors are already providing video on demand via ‘over-the-top’ or mobile channels, he added. Deutsche Telekom is a member of the VPRT.
Analysts said the Vodafone-Liberty deal - which also covers Hungary, the Czech Republic and Romania - had been structured to ensure that it will be subject to anti-trust scrutiny at European Union level, not in Germany, increasing its chances of being approved.
But they expect Telekom to fight a rearguard action, up to and including litigation, to defend its market position.
Advocates of the deal say, meanwhile, that creating strong market challengers would stiffen competition and stimulate investment as the industry prepares to roll out next-generation 5G services.
“With the merger we are for the first time creating genuine competition, because we are creating a second, strong infrastructure competitor,” Hannes Ametsreiter, Vodafone’s Germany CEO, told Reuters.
“Our rivals will be compelled to make massive investments. That’s good for the consumer and business in Germany.” ($1 = 0.8436 euros) (Additional reporting by Nadine Schimroszik Editing by Keith Weir and Alexander Smith) | ashraq/financial-news-articles | https://www.reuters.com/article/liberty-global-ma-vodafone-deutsche-tele/update-1-deutsche-telekom-vodafone-liberty-deal-would-distort-competition-idUSL8N1SG437 |
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Share this: Previous Did Debut of Bitcoin Futures Trigger Crash in Price? | ashraq/financial-news-articles | https://blogs.wsj.com/moneybeat/2018/05/08/european-firms-plot-strategy-ahead-of-trump-iran-decision/ |
May 19, 2018 / 12:41 PM / Updated 12 hours ago Haunted by Don Quixote for 25 years, Gilliam finally gets his epic out Robin Pomeroy 4 Min Read
CANNES, France (Reuters) - Terry Gilliam finally brought his epic “The Man Who Killed Don Quixote” to the screen on Saturday, after a 25-year struggle to make a film afflicted by financial, legal and logistical obstacles, illness and death.
Dedicated to the memory of John Hurt and Jean Rochefort, two deceased actors who starred in earlier, abandoned versions, the movie has long-time Gilliam collaborator Jonathan Pryce as Quixote, alongside Star Wars’ actor Adam Driver.
“I was the victim of Don Quixote, he wouldn’t leave me alone. He stalked me for 24, 25 years,” Gilliam told Reuters in at the Cannes Film Festival.
“It’s not the film I set out to make, it’s a much better film. The film I set out (to make) was just not a patch on what this film is. It’s taken all those years of marinating in my life to get there,” he said ahead of the world premiere.
A version starring Johnny Depp and Vanessa Paradis made it to the screen only in a 2002 documentary, “Lost In La Mancha” which charts the film’s descent into oblivion.
Initially, the plot was about a man who wakes up in the 17th century, believing he is the hero of Miguel de Cervantes’ novel.
In the final version, Driver plays an obnoxious director of TV adverts who realises the Spanish location he is filming in is near where he made his film-school movie, “The Man Who Killed Don Quixote”, a decade earlier.
He tracks down the man he cast as the lead, now a deluded geriatric convinced he really is Don Quixote living in the age of chivalry. “SURREAL”
Driver, who stars in another prominent Cannes movie, Spike Lee’s “BlacKkKlansman”, said it was “surreal” to be working with directors whose work he grew up watching. 71st Cannes Film Festival - Photocall for the film "The Man Who Killed Don Quixote" out of competition - Cannes, France, May 19, 2018 - Director Terry Gilliam, cast members Rossy de Palma, Olga Kurylenko, Joana Ribeiro pose. REUTERS/Regis Duvignau
Having acted in Martin Scorsese’s 2016 “Silence”, which also took decades to make, he was not daunted about joining “Quixote”, in the shoes of Johnny Depp.
“Any movie that actually comes together is always a miracle,” Driver said.
“If anyone’s been living with something for that long and they have that strong a will to get it done, then it inevitably will be interesting.”
Pryce, 70, whose breakthrough movie was Gilliam’s 1985 dystopian classic “Brazil”, said he had watched “Lost In La Mancha” in tears while the audience of non-filmmakers in the cinema laughed at the tragi-comedy.
“It was a bit scary that the two guys who made the documentary were there on the first day of this film, waiting for it to burst into flames,” he said.
The makers of “Lost In La Mancha” are working on a sequel, about the continued problems of the film which was subject to legal challenges that almost prevented it playing in Cannes.
Pryce said the real reason it took Gilliam so long to make “The Man Who Killed Don Quixote” was that he was waiting for his lead actor to be old enough for the part.
Gilliam, who chuckled his way through the interview, has another story. Slideshow (16 Images)
“(Pryce) used to come knocking on the door every few weeks saying: ‘I’m still available.’ It was always embarrassing trying to say: ‘Jon, I’ve got John Hurt,’ or somebody else. Until, basically, he got the part because finally his eyebrows got so bushy we didn’t have to have extra makeup for them.”
“The Man Who Killed Don Quixote” is playing, out-of-competition, as the closing film of the Cannes Film Festival which ends on Saturday. Reporting by Robin Pomeroy; Editing by Gareth Jones | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-filmfestival-cannes-don-quixote/haunted-by-don-quixote-for-25-years-gilliam-finally-gets-his-epic-out-idUKKCN1IK0GH |
May 23, 2018 / 12:14 PM / Updated 2 hours ago Comcast prepares to top Disney's $50 billion offer for Fox Sonam Rai , Liana B. Baker 4 Min Read
(Reuters) - Comcast Corp ( CMCSA.O ) confirmed on Wednesday it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox ( FOXA.O ), setting up a bidding war with rival Walt Disney Co ( DIS.N ), which already has agreed to a $52-billion deal with Fox.
The largest U.S. cable operator said it was in advanced stages of readying a bid that would be superior to Disney’s all-stock offer.
“While no final decision has been made, at this point the work to finance the all-cash offer and make the key regulatory filings is well advanced,” Comcast said in a statement.
The news lifted Fox shares 0.9 percent to $38.52. Comcast shares were down 1.6 percent at $31.97 and Disney shares fell 1.7 percent to $102.26.
By going public with its plans, Comcast is putting pressure on Fox and its shareholders to not rush into approving the Disney deal. Fox shareholders will vote on the Disney deal later this summer. A date has not yet been set.
Comcast may have a tough time winning over Fox’s largest shareholder, Rupert Murdoch, however. The Murdoch family owns a 17-percent stake in the U.S. TV and movie giant and would face a multi-billion dollar capital gains tax bill if he accepted an all-cash offer from Comcast, tax experts have told Reuters.
Sources familiar with the matter told Reuters earlier this month that Comcast was working on financing for a cash offer worth as much as $60 billion for the Fox assets, but Wednesday’s statement was the first formal confirmation by the company.
Fox and Disney declined to comment. Fox’s Executive Chairman Lachlan Murdoch said earlier this month that the company was committed to its agreement with Disney. FILE PHOTO: A woman walks past the NBC and Comcast logos on 30 Rockefeller Plaza in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo
Comcast Chief Executive Brian Roberts will only proceed with a bid if a federal judge next month allows AT&T Inc’s ( T.N ) planned $85-billion acquisition of Time Warner Inc ( TWX.N ) to proceed, sources have said.
“It all depends on the AT&T and Time Warner deal,” said Brian Wieser, analyst at Pivotal Research. “If that goes through, it is highly possible there will be more than one bid for Fox.”
Disney in December offered stock then worth $52.4 billion to buy Fox’s film, television and international businesses to beef up its offering against streaming rivals Netflix Inc ( NFLX.O ) and Amazon.com Inc ( AMZN.O ).
Disney shares have fallen more than 3 percent since that deal, reducing the value of the offer to just over $50 billion.
Comcast, owner of NBC and Universal Pictures, has also separately made a 22 billion pound ($30 billion) offer to acquire the 61-percent stake in European pay-TV group Sky Plc ( SKYB.L ) that Fox does not already own. In doing so, it topped an earlier offer for the entirety of Sky by Fox.
A regulatory filing in April showed Comcast offered to acquire most of Fox’s assets in an all-stock deal valued at $34.41 per share, or $64 billion last November - just before Disney’s offer was agreed upon.
After a sale, Fox’s remaining assets will include Fox News, Fox Business Network and sports cable networks.
“Comcast does seem intent on winning this one. Rivalry can frequently drive prices to un-economic levels,” said Jeffrey Logsdon, an analyst with JBL Advisors, referring to the potential bidding war for Fox. Additional reporting by Sonam Rai and Laharee Chatterjee in Bengaluru; Editing by Patrick Graham, Sriraj Kalluvila and Nick Zieminski | ashraq/financial-news-articles | https://www.reuters.com/article/us-fox-m-a-comcast/comcast-says-considering-all-cash-offer-to-buy-fox-assets-idUSKCN1IO1P3 |
MOUNTAIN VIEW, Calif., May 21, 2018 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of signal processing platforms and artificial intelligence processors for smarter, connected devices, announced that its Board of Directors authorized the expansion of the company's share repurchase program with an additional 700,000 shares of common stock available for repurchase. As of March 31, 2018, CEVA had approximately 270,000 shares of common stock available for repurchase under the existing plan, bringing the aggregate to approximately one million shares available for repurchase.
Gideon Wertheizer, CEO of CEVA, stated: "The Board's decision to expand the stock repurchase program reflects their belief in the long-term strategy and growth potential of the company. With our unique portfolio of integrated solutions, including 5G, artificial intelligence, computer vision and sound, we possess many of the key technologies that are redefining every major industry today as we move towards an increasingly smarter, connected world."
Under the share repurchase program, up to one million shares of the company's common stock may be repurchased from time to time pursuant to Rule 10(b)-18 of the Securities Exchange Act of 1934, as amended outside of periods when the Company's trading window is closed. Such repurchases may be made in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors.
About CEVA, Inc.
CEVA is the leading licensor of signal processing platforms and artificial intelligence processors for a smarter, connected world. We partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Our ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging and computer vision for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For artificial intelligence, we offer a family of AI processors capable of handling the complete gamut of neural network workloads, on-device. For connectivity, we offer the industry's most widely adopted IPs for Bluetooth (low energy and dual mode) and Wi-Fi (802.11 a/b/g/n/ac/ax up to 4x4). Visit us at www.ceva-dsp.com and follow us on Twitter , YouTube , Facebook and LinkedIn .
Forward Looking Statement
This press release contains that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of CEVA expressed or implied by such and assumptions. Forward-looking statements include Mr. Wertheizer's statements about optimism in CEVA's long-term strategy and growth potential and CEVA possessing many of the key technologies needed for an increasingly smarter, connected world. The risks, uncertainties and assumptions include: the ability of the CEVA DSP cores and other technologies to continue to be strong growth drivers for us; our success in penetrating new markets, including in non-baseband markets, and maintaining our market position in existing markets; our ability to diversify the company's licensing customers and royalty streams, the ability of products incorporating our technologies to achieve market acceptance, the speed and extent of the expansion of the 4G, 5G and LTE networks, the maturation of the IoT and connectivity markets, the effect of intense industry competition and consolidation, global chip and smartphone market trends, the possibility that markets for CEVA's technologies may not develop as expected or that products incorporating our technologies do not achieve market acceptance; our ability to timely and successfully develop and introduce new technologies; and general market conditions and other risks relating to our business, including, but not limited to, those that are described from time to time in our SEC filings. CEVA assumes no obligation to update any or information, which speak as of their respective dates.
Logo - http://mma.prnewswire.com/media/74483/ceva__inc__logo.jpg
View original content: http://www.prnewswire.com/news-releases/ceva-inc-announces-expansion-of-existing-stock-repurchase-program-300651913.html
SOURCE CEVA, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/21/pr-newswire-ceva-inc-announces-expansion-of-existing-stock-repurchase-program.html |
Suicide bombers 'target democracy' in Libya 12:07pm BST - 01:50
At least 12 people are killed in a suicide bomb attack on Libya's election commission, since claimed by Islamic State.
At least 12 people are killed in a suicide bomb attack on Libya's election commission, since claimed by Islamic State. //reut.rs/2ri3TnA | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/03/suicide-bombers-target-democracy-in-liby?videoId=423475939 |
DUBAI (Reuters) - Oman is working with consultancy Mckinsey & Co to integrate its refining and petrochemical industries into one entity, a senior Omani official and a financial source familiar with the matter said.
“The work is being carried out by McKinsey. It is not finished yet,” the senior official told Reuters on condition of anonymity.
In recent years, Gulf countries have looked at ways to shake-up their oil firms, including privatizations, to make them more efficient during a period of low oil prices.
Saudi Arabia is seeking a public listing for its flagship oil company Saudi Aramco, while Abu Dhabi National Oil Co has embarked on a plan to privatize its services business and has signed deals with global partners on upstream projects.
Oil prices have recently recovered to their highest since late 2014 following output cuts by major producers.
McKinsey could not immediately be reached for a comment.
Oman has been considering privatizations of a wide range of state firms for several years.
Last year, it said it planned to sell shares in some state-owned downstream energy companies to the public, partly to raise money as low oil prices pressure its finances.
With smaller oil and financial reserves than its wealthy neighbors, Oman has spent heavily on industrial and infrastructure projects to diversify its economy beyond oil.
Reporting by Rania El Gamal, Tom Arnold and Hadeel Al Sayegh; Writing by Saeed Azhar; Editing by Mark Potter
Our | ashraq/financial-news-articles | https://www.reuters.com/article/us-oman-refineries-petrochemicals/oman-working-with-mckinsey-to-integrate-refining-petrochemical-assets-idUSKBN1I81KB |
NEW YORK, May 07, 2018 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ:XELB) (“Xcel” or the “Company”), a brand management and media company, today announced that it will report its first quarter 2018 financial results after market close on Monday, May 14, 2018. The Company will hold a conference call with the investment community at 5:30 p.m. Eastern Time that day.
A webcast live on the Investor Relations section of Xcel’s website at www.xcelbrands.com . Interested parties unable to access the conference call via the webcast may dial 866-548-4713. A replay on the Company website for approximately two weeks following the event and can be accessed at 844-512-2921 using replay pin number 1121633.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ:XELB) is a media and brand management company engaged in the design, production, licensing, marketing, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods, and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded by Robert W. D’Loren in 2011 with a vision to reimagine shopping, entertainment, and social as one. Xcel owns and manages the Isaac Mizrahi, Judith Ripka, H Halston, C. Wonder, and Highline Collective brands, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through direct-response television, internet, brick and mortar retail, and e-commerce channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With a team of over 100 professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com
For further information please contact:
Andrew Berger
SM Berger & Company
216-464-6400
[email protected]
Source:Xcel Brands, Inc | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/07/globe-newswire-xcel-brands-to-report-first-quarter-2018-financial-results-on-may-14-2018.html |
VANCOUVER, May 14, 2018 /PRNewswire/ - GoldMining Inc. (the " Company " or " GoldMining ") (TSX-V: GOLD; OTCQX: GLDLF) is pleased to announce that, further to its news release dated April 26, 2018, the Company has completed its indirect acquisition of the Narrow Lake property (the " Property "). The Property includes the N1 and N2 claims, which cover a total area of 618 hectares and are contiguous with the southern boundary of the Company's Nicholas Lake-Ormsby property, one of the four properties that comprise the Yellowknife Gold Project (" YGP "), which the Company acquired in July 2017. With the acquisition of the Property, the YGP now has an expanded total area of 12,120 hectares.
Pursuant to the Agreement, GoldMining paid $50,000 in cash and issued 33,333 common shares of the Company to the vendor (the " Vendor ") in consideration for the Property. An additional $100,000, payable in cash or common shares of the Company, at the Company's discretion, will be due on the first anniversary of the closing date.
GoldMining granted the Vendor a 1% net smelter royalty with respect to the N1 and N2 claims upon commercial production.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia and Peru. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada.
Neither the TSX Venture Exchange nor their Regulation Services Providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
View original content: http://www.prnewswire.com/news-releases/goldmining-completes-acquisition-of-additional-gold-claims-contiguous-with-its-yellowknife-gold-project-300647391.html
SOURCE GoldMining Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/14/pr-newswire-goldmining-completes-acquisition-of-additional-gold-claims-contiguous-with-its-yellowknife-gold-project.html |
EditorsNote: adds Harden Quote:
Eric Gordon and P.J. Tucker sparked a revival by Houston’s role players, and the Rockets evened the Western Conference finals with a 127-105 victory over the visiting Golden State Warriors in Game 2 on Wednesday.
Gordon scored 27 points off the bench, connecting on 6 of 9 3-point attempts, while Tucker chipped in a postseason-career-high 22 points on 5-of-6 shooting from behind the arc.
Rockets guard James Harden added 27 points and 10 rebounds. He wasn’t forced to carry the load singularly as he did in the series opener, when he paired 41 points with seven assists in a 13-point defeat.
“Total team effort,” Harden said postgame on TNT. “We played harder and smarter than Game 1. We didn’t switch up any strategies or whatnot. Just play harder.”
Kevin Durant scored a game-high 38 points on 13-of-22 shooting and kept the Warriors within range with 18 points in the third quarter. However, Houston utilized its multitude of offensive weapons and also eliminated the defensive mistakes that proved fatal in the opener, limiting the Warriors to 9-of-30 shooting from 3-point range while surrendering only seven points in transition.
“Everything was fueled off our defense,” Gordon said. “Everybody was locked in at the right time and guys were knocking down shots, and when we play that way, it becomes a fun game and that’s why we got a good result.”
Even with the Warriors’ erratic play, the Rockets labored to pull away until midway through the fourth quarter.
Golden State sliced what was a 19-point deficit to 11 with a 13-5 run that bridged the final two periods. However, after Andre Iguodala missed a free throw that would have cut the margin to 10 with 8:12 remaining, Houston responded with an 11-0 burst that included 3-pointers from Gordon, Harden and Tucker. At 111-89, the Rockets finally held an advantage that felt secure.
Houston, which recorded just three fast-break points in Game 1, responded with a concerted attempt to run early and often. The Rockets had seven points in transition in the first quarter alone and repeatedly attacked the Warriors early in the shot clock, preventing Golden State from setting up its stifling defense.
“We just played at a better pace,” said Rockets guard Chris Paul, who scored 16 points. “A lot of that was helped, too, that we got stops. We defended better, we got out in transition, we still played our (isolations) when we had them. We just played with a little bit more thrust.
The Rockets carried a 26-21 lead into the second period and extended that advantage to double digits with a 12-5 spurt. When the Warriors responded, the Rockets answered with 3-pointers, closing the first half 10 of 23 from behind the arc.
Golden State coach Steve Kerr said, “We had seven turnovers in the first quarter. We set the tone early with our own play and allowed them to get some confidence and some easy buckets in transition. We let guys get going a little bit. But, give them the credit. They came out and played a great game and got everybody going. So we got what we deserved. They kicked our butts, there’s no other way to say it.”
Stephen Curry added 16 points, seven rebounds and seven assists for the Warriors but missed 7 of 8 shots from deep. Klay Thompson scored just eight points after posting 28 in the series opener.
“For the most part, it was a frustrating night all around,” Curry said. “They made some adjustments, got other guys involved and made plays. That’s kind of how a series like this is going to be. Game after game is going to be a chess match. Tonight we just didn’t make enough plays to stop the momentum that was building, and that was the difference in the game.”
Trevor Ariza posted 19 points and six assists for Houston, and Clint Capela had five points and 10 rebounds.
The Rockets wound up 16 of 42 (38.1 percent) from 3-point range while the Warriors were 9 of 30 (30 percent).
Game 3 is Sunday at Oracle Arena in Oakland, Calif.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/basketball-nba-hou-gsw-recap/role-reversal-rockets-even-west-finals-idUSMTZEE5HUSLKER |
Oil slumps as S Arabia, Russia consider output boost 9:33pm IST - 01:35
Oil prices fell more than 2 percent towards $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014. David Pollard reports.
Oil prices fell more than 2 percent towards $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014. David Pollard reports. //reut.rs/2IKl9xq | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/25/oil-slumps-as-s-arabia-russia-consider-o?videoId=430245980 |
May 16, 2018 / 2:51 PM / Updated 24 minutes ago Britain says U.S. sanctions on Iran have wide impact, make third-party trade more difficult Reuters Staff 1 Min Read
LONDON, May 16 (Reuters) - Britain said on Wednesday that U.S. sanctions against Iran have a clear impact on third-party countries and are making it difficult for firms to assess the risks of doing business there.
“It is clear that there is extraterritorial reach to some of these sanctions,” said Rona Fairhead, a trade department minister in parliament’s upper chamber, adding that Britain was working with the United States to make sure trade ties could still exist.
She said firms always had to assess financial, commercial and legal risks when doing business, but that the U.S. sanctions were making that process more difficult. (Reporting by William James. Editing by Andrew MacAskill) | ashraq/financial-news-articles | https://www.reuters.com/article/iran-nuclear-sanctions-britain/britain-says-u-s-sanctions-on-iran-have-wide-impact-make-third-party-trade-more-difficult-idUSS8N1PH00J |
May 9 (Reuters) - Calian Group Ltd:
* Q2 EARNINGS PER SHARE C$0.50 * EXPECT REVENUES FOR FISCAL 2018 TO BE IN RANGE OF $290 MILLION TO $310 MILLION
* REPORTED REVENUES IN QUARTER OF $77.1 MILLION, REPRESENTING A 15% INCREASE FROM $67.1 MILLION REPORTED IN SAME QUARTER OF PREVIOUS YEAR
* SEES 2018 NET PROFIT IN RANGE OF $1.90 TO $2.20 PER SHARE
* FY2018 EARNINGS PER SHARE VIEW C$2.10, REVENUE VIEW C$302.6 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-calian-reports-q2-shr-c050/brief-calian-reports-q2-shr-c0-50-idUSASC0A10T |
May 16, 2018 / 10:44 PM / Updated 34 minutes ago Mothercare to close 50 stores, reappoint Newton-Jones as CEO: source Ismail Shakil 2 Min Read
(Reuters) - Britain’s Mothercare Plc ( MTC.L ) will shutter 50 stores in the UK and bring back Mark Newton-Jones as chief executive as part of a restructuring plan to be unveiled on Thursday, a source familiar with the matter told Reuters. Branding is seen outside a Mothercare store in Altricham, Britain, May 16, 2018. REUTERS/Andrew Yates
Mothercare has seen sales and profit hammered by rising costs and intense competition from supermarket groups and online retailers in its main UK market.
The mother and baby products retailer said on Monday that it had been working on a comprehensive restructuring and refinancing package.
The company will disclose details of the restructuring plan along with full year earnings on Thursday, the source said. People walk past a Mothercare store in Altricham, Britain, May 16, 2018. REUTERS/Andrew Yates
Mothercare declined to comment.
Newton-Jones stepped down as CEO in April, a month after Mothercare warned on full-year profit.
Shares in Mothercare, a popular British high street name, have lost more than two-thirds of their value this year and closed at 21.30 pence on Wednesday.
The British Retail Consortium (BRC) said last week that the retail market was likely to remain “extremely challenging”.
Looking at retail sales over the three months to April, the BRC said overall spending was up 0.4 percent year-on-year, marking the third-worst reading since the global financial crisis.
Already this year Toys R Us UK, electricals group Maplin and drinks wholesaler Conviviality have moved into administration, while fashion retailer New Look and floor coverings retailer Carpetright are closing stores.
Sky News reported Mothercare’s plans earlier and said the store closures would trigger hundreds of job cuts. Reporting by Ismail Shakil in Bengaluru | ashraq/financial-news-articles | https://uk.reuters.com/article/us-mothercare-restructuring/mothercare-to-close-50-stores-reappoint-newton-jones-as-ceo-source-idUKKCN1IH36E |
SAN DIEGO--(BUSINESS WIRE)-- Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced today that it intends to offer, subject to market conditions and other factors, $650 million aggregate principal amount of convertible senior notes due 2023 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the offering of the notes, Ligand expects to grant the initial purchasers a 13-day option to purchase up to an additional $100 million aggregate principal amount of the notes, solely to cover overallotments, if any.
Ligand intends to use a portion of the net proceeds from the offering of the notes to pay the cost of certain convertible note hedge transactions, taking into account the proceeds to Ligand of certain warrant transactions, each as described below, and to repurchase up to $50 million of shares of Ligand’s common stock from purchasers of notes in privately negotiated transactions, which could increase the market price of Ligand’s common stock prior to, concurrently with, or shortly after the pricing of the notes, and could result in a higher effective conversion price for the notes. Ligand expects to use the remainder of the net proceeds from the offering of the notes to acquire or invest in complementary businesses, companies, products and technologies and for working capital and other general corporate purposes, including, without limitation, research and development activities to maintain Ligand’s platform technologies and for development of Ligand’s product candidates being developed internally. Ligand has no current commitments or obligations with respect to any acquisitions or other strategic transactions.
The initial conversion rate, interest rate and certain other terms of the notes will be determined by negotiations between Ligand and the initial purchasers. Prior to November 15, 2022, the notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, Ligand will satisfy its conversion obligation by paying or delivering, as applicable, shares of its common stock, cash or a combination of shares of its common stock and cash, at Ligand’s election. However, Ligand will agree to settle all conversions in cash until such time as Ligand has a sufficient number of authorized but unissued shares of its common stock available to settle conversions of all then-outstanding notes in shares of common stock and has reserved such shares of common stock for such conversions.
If the initial purchasers exercise their option to purchase additional notes, Ligand intends to use the resulting additional proceeds of the sale of the additional notes and any additional warrants sold to the option counterparties to pay the cost of entering into additional convertible note hedge transactions with the option counterparties and for other purposes as discussed above.
In connection with the pricing of the notes, Ligand expects to enter into convertible note hedge transactions with one or more financial institutions, which may include one or more of the initial purchasers or their respective affiliates (the “option counterparties”). The convertible note hedge transactions are expected generally to reduce the potential dilution to Ligand’s common stock and/or offset any potential cash payments Ligand is required to make in excess of the principal amount upon conversion of the notes in the event that the market price of Ligand’s common stock is greater than the strike price of the convertible note hedge transactions. Ligand also expects to enter into warrant transactions with the option counterparties. The warrant transactions could separately have a dilutive effect if the market price of Ligand’s common stock exceeds the strike price of the warrant transactions.
Ligand has been advised by the option counterparties that, in connection with establishing their initial hedge position with respect to the convertible note hedge transactions and warrant transactions, the option counterparties and/or their respective affiliates expect to purchase shares of Ligand’s common stock and/or enter into various derivative transactions with respect to Ligand’s common stock concurrently with, or shortly after, the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Ligand’s common stock or the notes at that time.
Ligand has also been advised by the option counterparties that the option counterparties or their respective affiliates are likely to modify their hedge positions by entering into or unwinding various derivative transactions with respect to Ligand’s common stock and/or purchasing or selling Ligand’s common stock or other of Ligand’s securities or instruments, including the notes, in secondary market transactions following the pricing of the notes and prior to the maturity of the notes.
The option counterparties may choose to engage in, or to discontinue engaging in, any of these transactions with or without notice at any time, and their decisions will be in their sole discretion. The effect, if any, of such activities of the option counterparties, including direction or magnitude, on the market price of Ligand’s common stock or the price of the notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.
The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of common stock issuable upon conversion of the notes, if any, have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold absent registration or an applicable exemption from such a registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any notes or common stock, nor shall there be any sale of notes or common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or any jurisdiction.
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. We have a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Ligand’s Captisol® platform technology is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. OmniAb® is a patent-protected transgenic animal platform used in the discovery of fully human mono- and bispecific therapeutic antibodies. Ligand has established multiple alliances, licenses and other business relationships with the world's leading pharmaceutical companies including Novartis, Amgen, Merck, Pfizer, Celgene, Gilead, Janssen, Baxter International and Eli Lilly.
Forward-Looking Statements
This news release contains forward-looking statements by Ligand that involve risks and uncertainties and reflect Ligand's judgment as of the date of this release. Words such as “plans,” “believes,” “expects,” “anticipates,” and “will,” and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements regarding: the potential notes offering; use of any proceeds from the offering; the terms of the potential notes, share repurchases, and convertible notes hedge transactions and warrants; and whether the convertible notes hedge transactions and warrant transactions will become effective. Actual events or results may differ from Ligand's expectations due to risks and uncertainties inherent in Ligand’s business, including, without limitation: risks and uncertainties associated with market conditions; whether Ligand will offer the notes or be able to consummate the proposed offering at the anticipated size or on the anticipated terms, or at all; and the satisfaction of closing conditions related to the proposed offering. The failure to meet expectations with respect to any of the foregoing matters may reduce Ligand's stock price. Additional information concerning these and other risk factors affecting Ligand can be found Ligand's public periodic filings with the Securities and Exchange Commission available at www.sec.gov . Ligand disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180516006477/en/
Ligand Pharmaceuticals Incorporated
Todd Pettingill, (858) 550-7893
[email protected]
or
LHA Investor Relations
Bruce Voss, (310) 691-7100
[email protected]
Source: Ligand Pharmaceuticals Incorporated | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/business-wire-ligand-announces-proposed-offering-of-650-million-of-convertible-senior-notes.html |
TOKYO (Reuters) - Japan Airlines Co Ltd (JAL) ( 9201.T ) is launching a low-cost carrier offering medium to long-haul flights, aiming to tap growing Asian demand for budget air travel.
FILE PHOTO: The logo of Japan Airlines (JAL) is seen on the tail fin of the company's airplane, at a Haneda Airport hangar in Tokyo, Japan April 3, 2017. REUTERS/Toru Hanai The new airline will be based at Narita International Airport and will offer flights to Asia, Europe and the Americas, JAL said in a statement on Monday.
The as-yet unnamed airline plans to start flying in the summer of 2020 with two wide-body Boeing 787-8 aircraft.
JAL will invest 10 billion yen to 20 billion yen ($91.44 million to $182.88 million) in the business, with the aim of reaching profitability within three years from the launch, the company said.
Budget flights have been slow to take off in Japan, which is dominated by full-service carriers JAL and ANA Holdings Inc ( 9202.T ) and has a sophisticated high-speed rail network, but with growing numbers of Asia travelers taking to the air the two Japanese airlines are looking to expand their low-cost offerings.
FILE PHOTO: Logos of All Nippon Airways (ANA) Co and Japan Airlines (JAL) Co are seen at Haneda airport in Tokyo, Japan, October 14, 2016. REUTERS/Toru Hanai/File Photo “Full-service airlines typically have high costs, but in Japan this is especially so,” said Will Horton, senior analyst at research consultancy CAPA Center for Aviation. “Japan needs new platforms to capture foreign visitors. They are not like the Japanese who are sticky in wanting to fly a costly Japanese full-service airline.”
ANA has said it will launch medium-length international flights, potentially flying as far afield as India, as it integrates its low-cost carrier units under the Peach brand name.
JAL, by contrast, holds only a minority stake in Jetstar Japan, a joint venture with Qantas Airways Ltd’s ( QAN.AX ) low-cost brand Jetstar which flies narrow-body aircraft. JAL said it would continue to invest in Jetstar Japan.
The new long-distance carrier is a totally different proposition from Jetstar Japan, which “is purely short-distance”, JAL’s new President Yuji Akasaka told reporters. Jetstar Japan has given its approval for the move, the president said.
Jetstar Japan said in a statement that the new airline would be complementary because it would bring more international visitors to Japan who would then travel on its domestic network.
“We are in discussions with JAL about opportunities for Jetstar Japan and the new low-cost carrier to work closely together,” Jetstar Japan said.
JAL said it plans to have outside investors in its new low-cost carrier which will be a consolidated subsidiary.
Other players are also looking to take advantage of Japan’s growing status as a tourist destination, with AirAsia Japan having relaunched and airlines such as Hong Kong Express and Singapore’s Scoot adding flights to Japan.
($1 = 109.3600 yen)
Reporting by Sam Nussey in Tokyo; Additional reporting by Maki Shiraki in Tokyo and Jamie Freed in Singapore; Editing by Muralikumar Anantharaman
| ashraq/financial-news-articles | https://www.reuters.com/article/us-japan-airlines-strategy/japan-airlines-says-to-set-up-low-cost-carrier-idUSKCN1IF063 |
OSLO (Reuters) - Budget carrier Norwegian Air ( NWC.OL ) remains confident of its business model, its CEO told shareholders on Tuesday, less than a week after the company said it had rejected two takeover proposals from British Airways owner IAG ICAG.OL.
FILE PHOTO: Bjorn Kjos, CEO of Norwegian Air, at the launch of the airline's first low-cost transatlantic flight service from Argentina at Ezeiza airport in Buenos Aires, Argentina, March 8, 2018. REUTERS/Marcos Brindicci/File Photo London-listed IAG last month took a 4.6 percent stake in the airline, which in turn triggered interest from other suitors, according to earlier statements from Norwegian’s board.
“Acquisition interest from several parties confirms the sustainability of the business model,” Chief Executive Bjoern Kjos told the company’s annual shareholder meeting.
Loss-making Norwegian is in the midst of a massive transatlantic expansion aimed at turning around the company’s fortunes by replicating the low-cost model that worked for European flights.
Analysts on average expect the airline’s revenue to grow by an 84 percent between 2017 and 2020 to 56.9 billion Norwegian crowns ($7 billion), according to I/B/E/S forecasts on Thomson Reuters Eikon.
While the company is expected to post a net loss of 650 million crowns in the current year, the analysts forecast a profit of 723 million crowns in 2019 and 1.2 billion crowns the following year.
Reporting by Terje Solsvik; Editing by Adrian Croft and David Goodman
| ashraq/financial-news-articles | https://www.reuters.com/article/us-norwegian-m-a/norwegian-air-says-takeover-interest-validates-business-model-idUSKBN1I927I |
May 2 (Reuters) - E. W. Scripps Co:
* E. W. SCRIPPS - ENCOURAGES SHAREHOLDERS TO VOTE FOR BOARD’S THREE NOMINEES AT E.W. SCRIPPS 2018 ANNUAL MEETING Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-e-w-scripps-encourages-shareholder/brief-e-w-scripps-encourages-shareholders-to-vote-for-boards-nominees-at-annual-meeting-idUSFWN1S9106 |
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