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By Howard Schneider and Ann Saphir
WASHINGTON, April 30 (Reuters) - Business is coming in so fast and workers are in such high demand at AOW Associates Inc, an Albany, New York-based construction firm, that its chief financial officer hired a guy six weeks ago for a job that didn’t exist.
“We keep our project management ads continuous, even if we are not looking to fill a particular role, and if someone does come along, we make a job for them,” AOW CFO Nicki Armsby said in a recent interview.
The company is not alone in looking for creative ways to deal with a U.S. labor shortage that, according to recent economic data and documents from the U.S. Federal Reserve, may be getting worse.
Policymakers at the Fed, which holds its latest policy meeting this week, must now decide what weight to give to signs that the economy is reaching a point where wages, inflation and other laggard indicators may turn higher.
Data on Friday showed U.S. employment costs rose in the first quarter at an annualized rate of 4 percent, continuing what JP Morgan economists view as a steady march higher since the unemployment rate fell below 5 percent in 2015.
Investors appear to be betting on that scenario playing out. The yield on the benchmark 10-year U.S. Treasury note breached the 3 percent level last week for the first time in more than four years.
And labor shortages have been cited by analysts as being responsible for the growing backlogs for manufactured goods in recent supply manager reports.
Add in the fiscal stimulus from the Trump administration’s tax cuts and spending that is hitting the economy this year, and the higher prices for aluminum, steel and potentially other goods triggered by new import tariffs, and the tenor of upcoming Fed analysis could be poised to shift.
“Demand has stayed very strong,” said Tim Fiore, who heads the Institute of Supply Management’s manufacturing business survey committee. “There is plenty for a strong expansion ... Dig into the details and the employment side has clearly been constricting producers’ ability to meet demand.”
The Fed is not expected to raise interest rates at the end of its two-day policy meeting on Wednesday. It also is not releasing updated economic forecasts and Fed Chairman Jerome Powell is not scheduled to hold a press conference.
The policy statement alone could show how policymakers have accounted for a range of recent developments, and how their thinking may have evolved since the last meeting in March, when the U.S. central bank raised rates.
According to documents released in the interim, the wages and inflation debate within the Fed appears to be shifting.
In the minutes from the March 20-21 meeting, released earlier this month, the word “slack” was jettisoned in the discussion of labor markets, a notable change in what has been a staple description of labor conditions during the current economic expansion.
The Fed then said in its “Beige Book” report, also released this month, that entrepreneurs across broad sectors of the economy were struggling to fill both skilled and unskilled jobs.
“The labor market is tight and continuing to tighten,” Erin Browne, head of asset allocation at UBS Asset Management, said on Friday after the Labor Department released the latest employment cost data.
“We are finally starting to see that translate into wage inflation.”
MISSING PIECE Although inflation has remained below the Fed’s 2 percent medium-term target for years, there appears to be growing confidence among policymakers that the pace of price increases will not collapse again and that the objective will be reached.
“They no longer see downside risk to inflation,” said Ed Al-Hussainy, senior interest rate and currency analyst for Columbia Threadneedle Investments.
Data from CME Group and Eurodollar futures still point to just two more rate hikes this year, though many economists argue the Fed will ultimately raise rates on a quarterly basis from here on, leading to three more hikes by the end of 2018.
The direction of wage growth will be critical to the Fed’s assessment, with Powell citing it as the missing piece in the discussion of whether “full employment” has truly been reached or exceeded. That, in turn, will shape the debate about whether the Fed may even need to move faster and further than expected with its monetary tightening.
If the choice is coming between raising compensation and leaving money on the table in the form of unfilled orders, then the weight may be shifting. (Reporting by Howard Schneider and Ann Saphir Editing by Paul Simao)
| ashraq/financial-news-articles | https://www.reuters.com/article/usa-fed/rpt-u-s-fed-faces-new-challenge-a-world-without-labor-slack-idUSL1N1S424Z |
May 1 (Reuters) - Australian shares are expected to open lower on Tuesday following a healthcare stock slide on Wall Street, although resurgent oil and metal prices could boost commodity stocks. The local share price index futures fell 17 points to 5,949, a 33.7-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.5 percent on Monday New Zealand's benchmark S&P/NZX 50 index fell 15.34 points to 8,428.24 in early trade. (Reporting by Syed Saif Hussain Naqvi in Bengaluru Editing by James Dalgleish)
| ashraq/financial-news-articles | https://www.reuters.com/article/australia-stocks-morning/australia-shares-to-dip-at-open-nz-down-idUSL3N1S76CH |
NEW YORK, May 30, 2018 /PRNewswire/ -- Adspace , which owns and operates Adspace Networks, the largest digital place-based video network in the country, today announces the appointment of Greg Glenday as Chief Executive Officer. Glenday, a seasoned executive with experience across a wide variety of media platforms, will oversee the day-to-day leadership of the company.
"We are thrilled to have someone of Greg's success and stature join our company. He sees the great potential for connected, video-based players like Adspace to play an increasingly important role in the larger digital ecosystem," said Peter Krieger, President and Chief Operating Officer from Adspace. "Greg brings with him a proven track record of building strong sales and marketing teams and then guiding them to success, and we look forward to his leadership in helping Adspace take the next step in its growth trajectory."
Prior to joining Adspace, Greg was the Chief Revenue Officer of Shazam, where he was instrumental in the company's successful sale to Apple. During this tenure, he was responsible for overseeing strategy, marketing, and global revenue, and helped the company achieve profitability for the first time in its history. He also oversaw a number of product innovations in the mobile/digital, audio recognition, branded content, and augmented reality spaces.
Greg also served as the Chief Revenue Officer at Undertone where he revamped the company's global go-to-market strategy and increased revenue, resulting in successful acquisition. Prior to Undertone, Greg spent nearly 20 years at iHeartMedia (formerly Clear Channel), most recently as President of the Connections division—the senior team he conceived, tasked with developing deep, strategic, cross-platform relationships with the largest advertisers. His responsibilities spanned all media and entertainment assets from iHeartRadio (digital and mobile), to national network radio, and large scale live events. During his tenure, Adweek named him one of the most 50 most influential people in media.
"I cannot imagine a more important and exciting time to join Adspace," said Glenday. "The company has a best-in-class product portfolio and a talented team. Advertisers all want the type of safe, highly engaging environment that Adspace provides. I look forward to leveraging my past experience to lead Adspace through the next phase of its evolution. This is going to be a lot of fun."
About Adspace Networks, Inc.
Located in America's top shopping destinations, the Adspace Mall Networks reach 62 million unique consumers every four weeks. With over 4,500+ screens throughout 300+ locations, our premium video network offers 100% viewable, brand-safe and fraud-free impressions to in-market consumers steps from the point of sale and on the path to purchase. Adspace effectively engages today's connected consumers through hyper-targeted messaging, one-to-one mobile engagements and social integrations.
View original content: http://www.prnewswire.com/news-releases/adspace-announces-new-ceo-300656059.html
SOURCE Adspace | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/30/pr-newswire-adspace-announces-new-ceo.html |
Cambridge Analytica whistleblower says Trump’s former aide Steve Bannon sought to promote ‘a culture war’, South Korea intends to mediate after North Korea’s threat to pull out of summit with Trump and a Myanmar policeman denies giving imprisoned Reuters reporters secret documents to incriminate them.
Former Cambridge Analytica research director Christopher Wylie is sworn in during a Senate Judiciary Committee hearing titled, "Cambridge Analytica and the Future of Data Privacy on Capitol Hill in Washington, U.S., May 16, 2018. REUTERS/Al Drago Highlights
Trump’s former aide Steve Bannon wanted to use personal information collected online to promote “a culture war,” a whistleblower on now-defunct political data firm Cambridge Analytica told U.S. senators.
House of Representatives Speaker Paul Ryan sought to head off revolts from the right and center of his Republican Party as lawmakers battled over legislation that would protect young illegal immigrants from deportation.
Europe’s technology giant SAP is rolling out mindfulness training to all 22,000 German staff and offering consulting services to other firms. It teaches them to pay attention to the present moment, and tune in to thoughts, feelings and surroundings.
World
Directional signs bearing North Korean and U.S. flags are seen near the demilitarized zone separating the two Koreas in Paju, South Korea, April 25, 2018. REUTERS/Kim Hong-Ji South Korea said it would seek to mediate between the United States and North Korea after Pyongyang threatened to pull out of an unprecedented summit between its leader Kim Jong Un and Trump on June 12 in Singapore.
A Myanmar policeman told a court he met two Reuters reporters on the night of their arrest in December, but denied giving them secret documents to incriminate them . His testimony contradicted a previous witness who last week said police had “set up” the pair. Wa Lone and Kyaw Soe Oo, have been detained in Myanmar since Dec. 12, 2017. Follow updates in their case.
French President Emmanuel Macron said Europe would try to protect its companies doing business with Iran from U.S. sanctions, reimposed over Tehran’s nuclear program , but said giants like Total would make their own choices.
Commentary:
Mexico's populist presidential frontrunner is using Donald Trump's playbook in the upcoming Mexican election, writes columnist Andrés Martinez . "[Andrés Manuel López Obrador] would almost certainly represent a return to the country’s more authoritarian, statist past. With an inward- and backward-looking view of the world, his slogan may not be “Make Mexico Great Again,” but it might as well be “Make Mexico Mexico Again.”
Tech
Mobileye, Intel’s Israel-based autonomous driving unit, has signed a contract to supply eight million cars at a European automaker with its self-driving technologies, a company official told Reuters.
Beijing’s unslakeable thirst for the latest technology has spurred a proliferation of "accelerators” in Silicon Valley that aim to identify promising startups and bring them to China.
China regulatory authorities have approved the $18 billion sale of Toshiba’s chip unit to a consortium led by U.S. private equity firm Bain Capital, Japanese public broadcaster NHK reported, without citing sources.
Google’s YouTube said it will launch a new music streaming service, YouTube Music, next week and unveil soon a premium service that will charge more for its original shows.
Reuters TV
The latest Ebola outbreak in West Africa has now reached a major population center, meaning it may be about to get much harder to contain. Stopping these repeat manifestations of the virus cuts to questions of education and food sources in the region.
| ashraq/financial-news-articles | https://www.reuters.com/article/us-newsnow-may17/thursday-morning-briefing-idUSKCN1II1P8 |
KIRKLAND, Wash., May 08, 2018 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTCQB:PHOT), one of the nation’s most recognized indoor cultivation product and service providers, today announced that it has promoted Lauren Schmitt to Vice President of the company’s Consumer Division, which includes management of the company’s e-commerce sales platform in both the United States and Canada.
“After working with Lauren for over five years, we are extremely confident that we have found the perfect addition to our leadership team to help facilitate further expansion of our direct to consumer sales channel,” said GrowLife CEO Marco Hegyi. “We have seen a major uptick in sales through our direct-to-consumer channels servicing the rapidly expanding indoor cultivation market under Lauren’s leadership. She completely understands the industry and our products as well as possesses the necessary skills to drive our team to maximum efficiency.”
The company’s consumer division has seen significant growth in recent months due to continued legalization of cannabis across the US and Canada. Currently eight states, accounting for more than 61 million people, allow anyone 21 years of age or older to grow cannabis plants in their home with an additional 9 states that allow cultivation with a medical recommendation. The consumer division offers products specifically designed for this type of legal indoor cultivation as well as offers educational resources for new and experienced home growers. The division will also continue to act as an e-logistics network for the thousands of current and potential commercial licensed cultivators across North America.
Schmitt has proven that she will be the best person for the position having been with the company for six years and has been an integral part of the expansion of the direct-to-consumer sales channel to date -- acting previously as the company’s head of procurement and e-commerce platform. With a background in environmental science with an emphasis in plant and soil science, Schmitt has worked in executive level positions with various companies including launching a nationwide nutrient line where she ran store-to-store distribution and channel management. In her new role, Schmitt will focus on further expansion of the consumer sales channels and product offering, working closely with the product development division GrowLife Innovations, and increasing margins and profitability for the consumer division as a whole.
“In this new role, I plan to capitalize on the momentum GrowLife is experiencing in its consumer division and empower our growing customer base with innovative solutions and resources for this emerging market,” Schmitt said. “In recent years consumer behavior has shifted toward favoring online purchasing -- and with recent legalization taking place across the country allowing for home-grown cannabis, I see a tremendous potential for growth within GrowLife’s consumer division.”
For more information about GrowLife, including the CEO’s most recent video statement, please visit the company’s website . Products can be purchased at ShopGrowLife.com .
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
Public Relations Contact:
CMW Media
Cassandra Dowell, 858-264-6600
[email protected]
www.cmwmedia.com
Investor Relations Contact:
[email protected]
Source:GrowLife, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/globe-newswire-growlife-inc-adds-vice-president-of-consumer-division-to-leadership-team-as-e-commerce-platform-expands.html |
(Reuters) - Factbox on the Panama national team ahead of the 2018 World Cup:
FIFA Ranking: 55 (till June 7)
Previous tournaments:
Panama will be making their debut at the World Cup finals. They first entered the World Cup qualifiers for the 1978 tournament in Argentina.
Coach:
Hernan Dario Gomez: The 62-year-old has qualified Panama for their first World Cup, repeating a feat he achieved with Ecuador in 2002. He will be coaching at his third finals having also led his native Colombia in 1998. Gomez had a second stint with Colombia in 2011 but resigned after only four months following an incident in which he hit a woman in a bar. A defensive midfielder in his playing days, Gomez was also assistant to Francisco Maturana when Colombia played at the 1990 and 1994 World Cups and has also coached Guatemala.
Key players:
Gabriel Gomez: Defensive midfielder who has won more than 140 caps since his debut in 2004. He has played in four World Cup qualifying competitions and seven CONCACAF Gold Cup tournaments. The 33-year-old’s club career has taken him to Colombia, Costa Rica, Mexico, the United States, Portugal and Cyprus and his current side, Colombia’s Atletico Bucaramanga, is the 18th of his remarkable career.
Roman Torres: The dreadlocked defender is the linchpin of the defense and became Panama’s unlikely hero when he scored the last minute goal that took them to the World Cup finals at the expense of the United States and Honduras. The 32-year-old, who was sidelined for most of the 2016 season with a cruciate ligament injury, has won more than 100 caps. He spent most of his club career in Colombia before joining Seattle Sounders in 2015.
Alberto Quintero: In a side based on tactical organization, hard work and defensive solidity, the 28-year-old Quintero, usually to be found on the right of the midfield, is the main creative influence. He is already approaching his 100th cap but, despite his international experience, his club career has been a mixed bag which has taken him to Major League Soccer but also the Mexican second division. He currently plays for Universitario in Peru.
Form guide:
Panama have struggled in friendlies since qualifying for the World Cup, losing to Iran and Denmark by single goals, drawing with Wales and being thumped 6-0 by Switzerland. They did manage wins in low-key friendlies against Grenada and Trinidad. Panama reached the quarter-finals of the Gold Cup last year before losing 1-0 to Costa Rica. Their last 10 competitive internationals have produced four wins, three draws and three defeats.
How they qualified:
Panama finished third out of six in the final stage of the CONCACAF qualifiers thanks to a controversial 2-1 win over Costa Rica in their last game. Defender Torres scored an 88th-minute winner. However, replays of Blas Perez’s equalizer early in the second half clearly showed that the ball did not cross the line. The win meant they finished ahead of Honduras on goal difference and leapfrogged the United States who, having beaten Panama 4-0 three days earlier, were eliminated after a 2-1 defeat in Trinidad.
Prospects:
Drawn in Group G, Panama will be thrown in at the deep end by facing Belgium in their opening game. They then face England and finally Tunisia. Coach Hernan Dario Gomez admits that his team are rank outsiders and that he would be happy with a single victory. Should they pull off a sensation and qualify, then Gomez’s native Colombia would be among their potential opponents in the last 16.
Writing by Brian Homewood; Editing by Peter Rutherford
| ashraq/financial-news-articles | https://www.reuters.com/article/us-soccer-worldcup-pan-factbox/soccer-panama-world-cup-factbox-idUSKCN1IP2B9 |
May 10, 2018 / 2:10 AM / Updated 11 hours ago Hawaii's Kilauea Volcano channelling molten rock through fits and starts Steve Gorman , Jolyn Rosa 5 Min Read
(Reuters) - The latest bursts of molten rock, ash and toxic gas from Kilauea Volcano on the Big Island of Hawaii are part of an ever changing and still largely mysterious cycle of eruptions that have been at work for hundreds of thousands of years. A new fissure spraying lava fountains as high as about 230 feet (70 m), according to United States Geological Survey, is shown from Luana Street in Leilani Estates subdivision on Kilauea Volcano's lower East Rift Zone in Hawaii, U.S., May 5, 2018. US Geological Survey/Handout via REUTERS
Kilauea, one of the world’s most active volcanoes and perhaps the most intensely studied, began extruding red-hot lava into populated areas through newly opened fissures in the ground last week, destroying dozens of homes and other buildings, and prompting mass evacuations.
The lava-spewing fissures were accompanied by a flurry of earthquakes. An ash plume belched from Kilauea’s long-active Pu’u ‘O’o side vent last week, and on Wednesday volcanic rock exploded from the main summit crater, which could portend a wave of similar eruptions to come.
All of this activity, according to geologists and vulcanologists, is driven by the underground ebb and flow of huge rivers of molten rock called magma — the term for lava before it reaches the surface — and is part of an eruption cycle that has continued nearly nonstop on the island for 35 years.
But experts say the behaviour exhibited by Kilauea differs from one eruptive episode to the next, and they hope the latest sequence of events will help them better understand why.
“When all of this is over, and we digest the reams and mountains of data that we are collecting, we will know a lot more about Kilauea as a volcanic system,” Christina Neal, the vulcanologist in charge at the Hawaiian Volcano Observatory of the U.S. Geological Survey, told a news conference on Wednesday.
Scientists acknowledge having no idea how much longer the latest upheaval will last, though there were clear signs something was brewing before it started. Kilauea volcano's summit lava lake shows a significant drop of roughly 220 metres below the crater rim in this wide angle camera view showing the entire north portion of the Overlook crater in Hawaii, U.S. May 6, 2018. USGS/Handout via REUTERS EAST RIFT ZONE
Magma had steadily bubbled up for weeks inside the main crater at Kilauea’s summit, and at the separate Pu’u ‘O’o crater miles (kilometres) away on the volcano’s eastern flank called the east rift zone.
Instead of lava breaking through the outside wall of the Pu’u ‘O’o cone, as it did twice before in recent years, the crater floor abruptly collapsed on April 30. The pool of magma drained back into an underground reservoir and pushed its way into deep channels carrying the molten rock farther downslope.
This sequence of events created space for additional magma from Kilauea’s summit to recede back underground and likewise flow downhill into the sub-surface rift line. When that happened, a lava lake that had spilt over the crater rim just weeks before suddenly dropped by hundreds of feet (meters).
By last Thursday, the underground flows found their way to the surface in the community of Leilani Estates, opening large cracks in the ground to emit steam, toxic sulphur dioxide and other volcanic gases, and finally fountains of lava, some hundreds of feet (meters) high.
Fourteen such fissures had been counted as of Wednesday, and scientists said more were likely in the days and weeks ahead.
“There’s still a fair bit of magma right underground that’s available to erupt,” Neal said. Slideshow (4 Images)
The earthquakes, including a powerful magnitude 6.9 tremor on May 4 — the strongest in Hawaii since 1975 — were produced by the enormous pressure being exerted miles (km) beneath the surface on fault lines around the volcano from the massive intrusion of magma underground. NEW CHAPTER
On Wednesday, scientists observed what they believe may signal a new chapter in the latest series of disturbances — the violent explosion from the summit crater of rocky material that apparently fell into the remaining lava lake.
Such blasts could grow more frequent if the receding magma in the summit chamber drops below groundwater levels, allowing steam to rush into the void and become trapped by more rock falls, causing explosive pressure build-ups, scientists said.
The filling and draining of Kilauea’s magma reservoirs has recurred countless times over the history of the volcano, which has been active for hundreds of thousands of years and helped build the largest island in the Hawaii archipelago.
But scientists remain uncertain what caused Kilauea’s latest buildup of molten rock and why the magma travelled so far underground to create new ground vents “when it had two release valves” already at the summit crater and at Pu’u ‘O’o, said Michael Garcia, a volcano expert at the University of Hawaii.
“Why it would push magma 10 miles (16 km) down from where it was erupting is a mystery,” he said.
Garcia said Kilauea’s current eruption cycle, which has persisted with no more than a month’s pause for 35 years, is already its longest in the last five centuries. But that record pales in comparison to a volcano in Costa Rica that has been continuously erupting since 1968.
How and when Kilauea will fall silent again has yet to be determined. Reporting and writing by Steve Gorman in Los Angeles; Additional reporting by Jolyn Rosa in Honolulu; Editing by Sandra Maler | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-hawaii-volcano-science-explainer/hawaiis-kilauea-volcano-channelling-molten-rock-through-fits-and-starts-idUKKBN1IB06U |
South Korean president Moon Jae-in will meet Donald Trump in Washington on Tuesday in a bid to salvage a potentially historic summit next month between the US leader and North Korea's Kim Jong Un.
The hastily arranged White House trip is intended to reassure the Trump administration, which has indicated concern that next month's summit could fail, and irritation at Mr. Moon's own performance as a go-between.
"It now seems Mr. Moon is the most anxious that the talks between Mr. Trump and Mr. Kim could fall apart," said Kim Jae-chun, a professor at Sogang University in Seoul.
Receive 4 weeks of unlimited digital access to the Financial Times for just $1 .
While South Korea has positioned itself as the intermediary between Washington and Pyongyang for months, tensions have increased in recent days over the issue of the denuclearization of North Korea's weapons arsenal.
US officials — in particular John Bolton, Mr. Trump's hawkish national security adviser — see a firm commitment to "denuclearize" as a key first step by Pyongyang, while North Korea has remained vague about how it might denuclearize, despite earlier pledges to do so.
It said last week it would cancel the proposed summit if Washington continued to pressure it to "unilaterally" abandon its nuclear weapons program.
"Mr. Moon will stress [to Mr. Trump] that the US should not push a one-sided denuclearization of North Korea by demanding it first dismantle nuclear weapons in return for compensation later," said Yang Moo-jin, a professor at the University of North Korean Studies in Seoul.
"Mr. Moon will probably tell Mr. Trump that what Kim Jong Un wants is to be treated as a normal leader of a normal nation. And they will discuss how to guarantee the Kim regime's security and how to help develop North Korea's economy."
Pyongyang has been particularly irritated by the proposal made by Mr. Bolton that North Korea should adopt the " Libya model " for denuclearization — a reference to the late Colonel Muammar Gaddafi's 2003 decision to scrap his country's fledgling nuclear program.
The very idea of the Libya model of abandoning nuclear weapons in exchange for aid is known to infuriate officials in Pyongyang, who believe that the deal paved the way for Gaddafi's overthrow and murder in 2011.
By contrast with his national security adviser, the US president last week dismissed the Libyan experience as a model for any eventual deal with Pyongyang, instead promising Mr Kim "very strong" protections if he agreed to dismantle the country's nuclear program.
Even politicians in Seoul have expressed angst over Mr. Bolton's proposal, which has long been a taboo topic.
"Because of Bolton's unreasonable talk about the Libyan model, there is now a red light in the inter-Korean and US-North Korea talks," said Woo Sang-ho, a lawmaker with the ruling Democratic party.
"Trump's talk of guaranteeing the security of the North Korean regime is the complete opposite of Bolton's Libyan solution . . . I think the momentum for talks will only return after this issue gets cleared."
Bong Young-shik, a North Korea expert at Yonsei University in Seoul, said: "Many officials in the Moon administration hate John Bolton because of [past] bitter experiences . . . He is known as a hardliner who does not work on a case-by-case basis."
Mr. Moon last month met Kim Jong Un in a landmark summit that ended with a declaration to reduce hostilities and denuclearise the Korean peninsula.
However, the exact meaning of denuclearization was never clarified and Mr. Moon now faces skepticism from the US that he over-interpreted North Korea's desire to denuclearize.
"Mr. Trump already seems concerned that Mr. Moon misinterpreted Kim Jong Un's message or intention," said Prof Bong. "Mr. Moon runs the risk of losing his credibility."
Pyongyang has long sought to sow dissension between Washington and Seoul, which have been allies since the Korean war.
Some experts have expressed fear that if the US rushes into the June 12 summit without sufficient preparation, the meeting will inevitably fail and the risk of conflict on the Korean peninsula will once again increase.
More from the Financial Times:
North Korea's summit threats bode ill for nuclear deal
Trump hails North Korea plan to close nuclear site
US brushes off North Korean threats to pull out of summit | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/22/moon-travels-to-washington-in-bid-to-save-trump-kim-summit.html |
May 16, 2018 / 4:05 PM / Updated an hour ago Oxfam boss hit by Haiti scandal to stand down Reuters Staff 2 Min Read
LONDON (Reuters) - Oxfam Great Britain chief executive Mark Goldring, who was criticised for his handling of a scandal over the use of prostitutes in Haiti by Oxfam staff, will stand down at the end of the year, the organisation said on Wednesday. FILE PHOTO: Oxfam chief executive Mark Goldring visits Al Zaatri refugee camp in the Jordanian city of Mafraq, near the border with Syria, April 30, 2013. REUTERS/ Majed Jaber/File Photo
“Following the very public exposure of Oxfam’s past failings, we have redoubled our efforts to ensure that Oxfam is a safe and respectful place for all who have contact with us,” Goldring said in a statement.
“We are now laying strong foundations for recovery. I am personally totally committed to seeing this phase through.”
Oxfam launched investigations into nearly 30 cases of misconduct reported after the Haiti scandal broke in February.
But Goldring was forced to apologise for saying that the wave of condemnation of the organisation was disproportionate because it had not “murdered babies in their cots.”
In its statement on Wednesday, Oxfam said Goldring, who has been CEO since 2013, oversaw the biggest annual humanitarian response in its history in 2016, covering the refugee crisis as well as conflicts from Yemen and Syria to South Sudan.
He also ensured Oxfam improved its safeguarding practices after the sexual abuse case by staff in Haiti in 2011, shortly after a devastating earthquake in the country, Oxfam said. Reporting by Alistair Smout; Writing by William Schomberg; editing by Stephen Addison | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-britain-oxfam/oxfam-boss-hit-by-haiti-scandal-to-stand-down-at-the-end-of-2018-idUKKCN1IH291 |
May 20, 2018 / 2:00 PM / Updated 2 hours ago U.S., China putting trade war on hold, Treasury's Mnuchin says Lindsay Dunsmuir , Howard Schneider 5 Min Read
WASHINGTON (Reuters) - The U.S. trade war with China is “on hold” after the world’s largest economies agreed to drop their tariff threats while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday.
Mnuchin and U.S. President Donald Trump’s top economic adviser, Larry Kudlow, said the agreement reached by Chinese and American negotiators on Saturday set up a framework for addressing trade imbalances in the future.
“We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework,” Mnuchin said in a television interview on “Fox News Sunday.”
On Saturday, Beijing and Washington said they would keep talking about measures under which China would import more energy and agricultural commodities from the United States to narrow the $335 billion annual U.S. goods and services trade deficit with China.
During an initial round of talks this month in Beijing, Washington demanded that China reduce its trade surplus by $200 billion. No dollar figure was cited in the countries’ joint statement on Saturday.
The Chinese Embassy in Washington did not return a request for comment on Mnuchin’s statement.
Tension between the two sides has been growing since the Trump administration proposed tariffs of $50 billion on Chinese goods and said it might extend the levies to an additional $150 billion. China responded with its own measures targeting U.S. agriculture.
In response to Mnuchin’s comments, Democratic Senator Chuck Schumer of New York, a frequent Trump critic, said he thought it would be a mistake for Trump to settle for “a promise to buy goods” with so many larger issues on the table.
“If President Xi is going...to fail to take strong actions on intellectual property, cyber theft, and American companies having free access to sell goods in China...we will have lost,” Schumer said.
Kudlow told CBS “Face the Nation” it was too soon to lock in the $200 billion figure for China’s promised purchases. “The details will be down the road. These things are not so precise,” he said.
In addition, he told ABC’s “This Week” that the broader issues were still in play, and that China had “structural reforms” such as lowering tariffs and non-tariff barriers that will allow the United States to boost exports. FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin (R) is seen as he and a U.S. delegation for trade talks with China arrive at a hotel in Beijing, China May 3, 2018. REUTERS/Jason Lee
Trump was in a “very positive mood about this,” Kudlow said.
However, he said there was no trade deal yet reached.
“There’s no agreement for a deal,” Kudlow told ABC. “We never anticipated one. There’s a communique between the two great countries, that’s all. And in that communique, you can see where we’re going next.”
One next step will be dispatching Commerce Secretary Wilbur Ross to China to look at areas where there will be significant increases, including energy, liquefied natural gas, agriculture and manufacturing, Mnuchin and Kudlow said.
Mnuchin said the United States expects to see a big increase of between 35 percent and 40 percent in agricultural exports to China this year alone and a doubling of energy purchases over the next three to five years.
“We have specific targets. I am not going to publicly disclose what they are. They go industry by industry,” Mnuchin said.
Saturday’s statement made no mention of whether there would be a relaxation of paralyzing restrictions on Chinese telecommunications equipment maker ZTE Corp imposed last month by the U.S. Commerce Department.
The action was related to violation of U.S. sanctions on Iran and North Korea and banned American companies from selling semiconductors and other components to ZTE, causing the Shenzhen-based company to cease most operations.
Trump said last week he had directed Ross to put ZTE back in business, but Kudlow said any changes would be minimal. FILE PHOTO: U.S. President Donald Trump's economic adviser Larry Kudlow is interviewed at the White House in Washington, DC, U.S., April 6, 2018. REUTERS/Kevin Lamarque/File Photo
“If any of the remedies are altered they are still going to be very, very, tough, including big fines, compliance measures, new management, new boards,” he said. “Do not expect ZTE to get off scot-free. Ain’t going to happen.” Reporting by Lindsay Dunsmuir, Howard Schneider, Doina Chiacu; Writing by Doina Chiacu; Editing by Lisa Shumaker | ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-trade-mnuchin/treasurys-mnuchin-u-s-china-trade-war-prospects-on-hold-idUSKCN1IL0JG |
UBER INCLUDED IN SAN DIEGO'S SUCCESSFUL BID FOR U.S. DRONE PILOT PROGRAM DELIVERING FOOD - UBER CEO | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/09/reuters-america-uber-included-in-san-diegos-successful-bid-for-u-s-drone-pilot-program-delivering-food--uber-ceo.html |
HERTFORDSHIRE, England and PITTSBURGH, May 2, 2018 /PRNewswire/ -- Global pharmaceutical company Mylan N.V. (NASDAQ: MYL) today announced that it will release its first quarter 2018 financial results, on Wed., May 9, before the open of the U.S. financial markets. The company also will host a webcast at 10 a.m. ET on May 9, to discuss the results.
The briefing can be accessed live by calling 800.514.4861 or 678.809.2405 for international callers (ID#: 2194037) or at the following address on the company's website: investor.mylan.com. A replay of the webcast also will be available on the website.
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of more than 7,500 marketed products around the world, including antiretroviral therapies on which more than 40% of people being treated for HIV/AIDS globally depend. We market our products in more than 165 countries and territories. We are one of the world's largest producers of active pharmaceutical ingredients. Every member of our approximately 35,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at Mylan.com . We routinely post information that may be important to investors on our website at investor.mylan.com .
View original content with multimedia: http://www.prnewswire.com/news-releases/mylan-to-release-first-quarter-2018-financial-results-on-may-9-2018-300641311.html
SOURCE Mylan N.V. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/pr-newswire-mylan-to-release-first-quarter-2018-financial-results-on-may-9-2018.html |
Approved 2017 Financial Statements
Appointed the New Board of Directors
Pasquale Natuzzi Confirmed as CEO and Chairman of the Board
SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)-- Natuzzi S.p.A. (NYSE:NTZ) (the “Company”) announced that its shareholders at the Annual General meeting, held on April 30, 2018, approved the Company’s Financial Statements for the fiscal year ended December 31, 2017 and also acknowledged the presentation of the 2017 Consolidated Financial Statements of the Natuzzi Group.
As previously announced, the Group reported for the 2017 fiscal year consolidated total net sales of €449.6 million, versus €457.2 million in the previous year, and a net loss before non-controlling interests of €31.9 million as compared to €6.5 million in 2016.
On the same date, the Ordinary Shareholders Meeting re-elected Pasquale Natuzzi, Antonia Isabella Perrone, Giuseppe Antonio D’Angelo, Vincenzo Perrone, Stefania Saviolo and Ernesto Greco, and newly elected Paolo Braghieri, as members of the Company’s Board of Directors for a three-year term.
Following the above-mentioned Ordinary Shareholders Meeting, the Board of Directors met today and confirmed Pasquale Natuzzi as Chief Executive Officer of the Natuzzi Group and Chairman of the Board of Directors. Director Ernesto Greco has been confirmed Executive Director with ad hoc powers to supervise and support activities of the finance staff.
About Natuzzi S.p.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is Italy’s largest furniture house and one of the most important global player in the furniture industry with an extensive manufacturing footprint and a global retail network. Natuzzi is the Italian lifestyle best-known brand in the furnishings sector worldwide (Brand Awareness Monitoring Report - Ipsos 2016) and has been listed on the New York Stock Exchange since 13 May 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001 certified (Safety on the Workplace) and FSC ® certified (Forest Stewardship Council).
View source version on businesswire.com : https://www.businesswire.com/news/home/20180430006335/en/
Natuzzi Investor Relations:
Piero Direnzo (IR Manager); +39.080.8820.812 – [email protected]
Natuzzi Corporate Communication:
Vito Basile (Press Office); +39.080.8820.676 – [email protected]
Source: Natuzzi S.p.A. | ashraq/financial-news-articles | http://www.cnbc.com/2018/04/30/business-wire-annual-general-shareholdersa-meeting-and-board-of-directors-of-natuzzi-s-p-a.html |
CNBC.com show chapters 2 Hours Ago | 01:09
Ne-Yo is a three time Grammy winner known globally for R&B hits like "Miss Independent" and "So Sick." He's also host of NBC's " World of Dance. "
But if Ne-Yo could sit down for dinner with anyone in the world — it wouldn't be a fellow musician or entertainer.
It would be, "probably Warren Buffett," Ne-Yo tells CNBC Make It .
But Ne-Yo doesn't have any pressing finance or business questions for the Oracle of Omaha, who is worth $83 billion . He'd just like to get a sense of his character.
"I would just want to sit and just pick up his demeanor, pick up his vibe and see what kind of man it takes to make that much money, to be that successful in business," Ne-Yo says. "Like what kind of person do you have to be?"
"Not so much business secrets — but like who you are as a person," he continues.
To get a sense of that, Ne-Yo says he would ask about Buffett's hobbies, interests and infamous McDonald's breakfast order, which never costs more than $3.17.
"If you're sitting down to do something enjoyable, what is that?" Ne-Yo imagines he would ask. "What's enjoyable to you, being the person who has been so successful, and has made so much money. What is it that makes you tick?"
Business, numbers and problem-solving have always been interests for Buffett, ever since he was a kid. As a 6-year-old, he would sell packs of gum for 5 cents, according to Alice Schroeder's 2008 biography, "The Snowball: Warren Buffett and the Business of Life." By age 11, he bought his first stock .
That year, in 1942, Buffett told his dad he wanted to use all of his money, $125 at that time, to buy stock in a company.
"I put every bit of it in three shares of Cities Service preferred," Buffett tells CNBC. "I bought that stock at $38.25, it was down from $84 the year before, and it was down from $55 in January."
"It went up to $200 later on, but I sold at $40," he laughs. show chapters 5:03 PM ET Mon, 7 May 2018 | 01:40
For Ne-Yo, delving in to that mentality would make dinner worthwhile.
"If I can lock into that, then maybe I can apply some of it to my own thing and you know get a little more money," Ne-Yo jokes. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/29/world-of-dance-host-ne-yo-wants-to-have-dinner-with-warren-buffett.html |
May 9 (Reuters) - Firm Capital Property Trust:
* FIRM CAPITAL PROPERTY TRUST - FFO PER UNIT FOR THREE MONTHS ENDED MARCH 31, 2018 WAS $0.122
* FIRM CAPITAL PROPERTY TRUST - QTRLY AFFO PER UNIT WAS $0.106 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-firm-capital-property-trust-ffo-pe/brief-firm-capital-property-trust-ffo-per-unit-for-three-months-ended-march-31-2018-was-0-122-idUSFWN1SG1MQ |
May 14, 2018 / 7:52 AM / in 40 minutes China says appreciates U.S. position on ZTE Reuters Staff 1 Min Read
BEIJING, May 14 (Reuters) - China’s Foreign Ministry said on Monday the country appreciated the U.S. position on ZTE Corp , following a pledge by President Donald Trump to help the firm “get back into business, fast.”
Foreign Ministry spokesman Lu Kang said China is in close communications with the United States on ZTE, which suspended its main operations after the U.S. Commerce Department banned American firms from selling to ZTE for seven years. (Reporting by Sue-Lin Wong Writing by Beijing Monitoring Desk Editing by Darren Schuettler) | ashraq/financial-news-articles | https://www.reuters.com/article/usa-china-zte-comment/china-says-appreciates-u-s-position-on-zte-idUSS6N1S200B |
Expect to see 3.25% yields on the 10-year, bond expert says 1 Hour Ago Richard Bernstein, CEO of Richard Bernstein Advisors, and Kevin Giddis, Raymond James, discuss their take on U.S. markets and the economy. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/17/expect-to-see-3-point-25-percent-yields-on-the-10-year-bond-expert-says.html |
May 9 (Reuters) - Britain's FTSE 100 index is seen opening up 7 points on Wednesday, according to financial bookmakers. * FOX: Twenty-First Century Fox Inc's Chief Executive James Murdoch would not move to Disney if Fox deal closes, WSJ reported. on.wsj.com/2rvmrla * SHELL: Royal Dutch Shell Plc's corporate venture arm and GXP Investments led a $7.6 million investment in energy storage startup Axiom Energy to expand its service to grocery stores and cold-storage facilities, Bloomberg reported. bloom.bg/2I8e7hN * VODAFONE: Telecoms operator Vodafone Plc is close to buying large parts of John Malone's European cable group Liberty Global Plc in a deal worth about 18 billion euros. on.ft.com/2K5DFfU * GOLD: prices slipped in early trade on Wednesday, as the dollar regained ground after briefly dipping earlier following U.S. President Donald Trump's decision to pull out of the Iran nuclear deal. * OIL: Crude oil prices jumped back to near 3 1/2-year highs on Wednesday after President Donald Trump pulled the United States out of an international nuclear deal with Iran, sparking worries about global oil supplies. * FTSE 100 ended flat at 7,565.75 points on Tuesday after a public holiday despite dealmaking dominated activity in UK stocks, with gains in Shire Plc and Virgin Money. * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets * UK CORPORATE DIARY: Compass Group Half Year 2018 Earnings OneSavings Bank Q1 Trading Update Provident Financial Q1 2018 Trading Update JD Wetherspoon Q3 Trading Update Renishaw Q3 Trading Update Greggs Q1 Trading Update G4S PLC Q1 2018 Trading Update Imperial Brands Half Year 2018 Earnings TODAY'S UK PAPERS > Financial Times > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Sangameswaran S in Bengaluru)
| ashraq/financial-news-articles | https://www.reuters.com/article/britain-stocks-factors/uk-stocks-factors-to-watch-on-may-9-idUSL3N1SG2I2 |
ROME (Reuters) - Italy’s anti-establishment 5-Star Movement and the far-right League on Monday proposed Giuseppe Conte, a little-known law professor, as prime minister to lead their big-spending coalition government.
But instead of immediately endorsing their choice, President Sergio Mattarella played for time, seeking further consultations over the appointment of a political novice to head a mooted administration that has alarmed markets and the European Union.
The leaders of 5-Star and the League, who have drawn up a coalition pact aimed at ending months of deadlock after inconclusive elections on March 4, put forward Conte’s name at separate meetings with Mattarella.
“I am very proud of this choice. Giuseppe Conte will carry forward our government contract,” 5-Star leader Luigi Di Maio said after leaving the presidential palace.
The joint program calls for billions of euros in tax cuts, additional spending on welfare for the poor, a roll-back of pension reforms and a revision of key EU rules, including those regulating immigration and monetary union.
Financial markets have been spooked by the proposals; Italy’s borrowing costs surged again on Monday, while its stock market touched six-week lows on fears of instability in the euro zone’s third largest economy.
“Let us get to work first and then criticize us. You have every right to do so, but let us start first,” Di Maio told reporters after seeing Mattarella.
Related Coverage Italian president needs time to consider prime minister: source The president could have ended the deadlock by immediately calling in Conte and offering him a mandate. Instead, his office said he would hold a fresh round of talks with the heads of the upper and lower houses of parliament on Tuesday.
A source in his office said he needed time for reflection, adding that the president had stressed to the League and 5-Star the important role a prime minister plays leading a government.
Graphic for seats in parliament: tmsnrt.rs/2IGnqpu
COMPROMISE Conte, who teaches at Florence University, has no political experience but is close to 5-Star, and was one of the people put forward by the party as a possible minister before the election, when he vowed to simplify Italy’s labyrinthine bureaucracy.
FILE PHOTO: 5-Star Movement leader Di Maio shakes hands with Giuseppe Conte, who would be Minister for Simplification of Public Administration with the Parliament in any 5-Star government, during the presentation of the would-be cabinet team, ahead of election in Rome, Italy, March 1, 2018. REUTERS/Remo Casilli/File Photo That was the first time Conte, 54, had appeared in the public spotlight, though he is on the board of numerous academic and judicial bodies and had participated in conferences on justice matters organized by 5-Star.
He played no obvious role in drawing up the coalition pact.
Both the League and 5-Star have vociferously denounced previous suggestions that the next prime minister might be a technocrat, saying that the premier needed to be a politician who had won legitimacy from the ballot-box.
However, Di Maio and League leader Matteo Salvini each refused to let the other become prime minister, not wanting to appear the junior partner in any deal. After failing to find a political alternative, they settled for a compromise solution.
If Mattarella decides to give his blessing to Conte, the parties could put a cabinet together rapidly and hold confidence votes in parliament later this week.
One of the first tasks ministers would face would be to try to calm investor concerns that they might explode Italy’s already huge debt pile — worth more than 130 percent of annual economic output — and contravene European Union budget rules.
Ratings agencies have already signaled their concern.
FILE PHOTO: League party leader Matteo Salvini speaks to the media during the second day of consultations with Italian President Sergio Mattarella at the Quirinal Palace in Rome, Italy, April 5, 2018. REUTERS/Alessandro Bianchi/File Photo Fitch said on Monday that having a 5-Star/League government would increase Italy’s fiscal risks, after DBRS issued a similar warning last week.
While markets fret, ordinary Italians appear to want the tie-up. Some 60 percent are in favor of a 5-Star/League coalition government, a Demos & Pi poll published on Sunday indicated, while more than 80 percent of 5-Star and League voters back it, the poll said.
Additional reporting by Crispian Balmer and Gavin Jones; Editing by Kevin Liffey
| ashraq/financial-news-articles | https://www.reuters.com/article/us-italy-politics/italys-5-star-league-to-seek-presidents-backing-on-government-pm-idUSKCN1IM0R4 |
NEW YORK, May 22, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MB Financial, Inc. ("MBFI" or the "Company") (NASDAQ: MBFI) in connection with the proposed acquisition of the Company by Fifth Third Bancorp ("FITB") (NASDAQ: FITB). On May 21, 2018, the Company announced a definitive agreement under which FITB will acquire all outstanding shares of MBFI in a transaction valued at approximately $4.7 billion. The deal offers MBFI shareholders $5.54 in cash and 1.45 shares of FITB common stock in exchange for each MBFI share they own, representing consideration of $50.54 per MBFI share, based on FITB's May 22 trading price of $31.04.
WeissLaw is investigating whether MBFI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, MFBI announced double digit growth in its most recent financial statements, reporting an impressive 21.1% period-over-period increase in operating earnings.
Given these facts, WeissLaw is investigating whether MBFI's Board acted in the best interests of MBFI's public shareholders to maximize shareholder value prior to entering into the agreement. If you own MBFI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected] .
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/mb-financial-inc /
View original content: http://www.prnewswire.com/news-releases/weisslaw-llp-investigates-mb-financial-inc-acquisition-300653150.html
SOURCE WeissLaw LLP | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/pr-newswire-weisslaw-llp-investigates-mb-financial-inc-acquisition.html |
WASHINGTON—The Pentagon has begun an investigation into Navy Rear Adm. Ronny Jackson, who served as the personal physician for three presidents until misconduct allegations emerged last week, dooming his bid to become secretary of veterans affairs.
The Defense Department’s Office of Inspector General is conducting the probe into allegations against Adm. Jackson and will decide afterward what further investigation or action should be taken, Pentagon spokesman Tom Crosson said in a statement.
... To | ashraq/financial-news-articles | https://www.wsj.com/articles/pentagon-begins-probe-into-former-white-house-physician-jackson-1525191946 |
May 6, 2018 / 1:23 AM / Updated 13 hours ago ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Women's Singles Results Reuters Staff 1 Results from the ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Women's Singles matches on Saturday .. 1st Round .. 6-Karolina Pliskova (CZE) beat Elena Vesnina (RUS) 6-4 6-2 14-Daria Kasatkina (RUS) beat Qiang Wang (CHN) 7-5 7-6(6) Anett Kontaveit (EST) beat 8-Venus Williams (USA) 3-6 6-3 6-2 7-Caroline Garcia (FRA) beat Dominika Cibulkova (SVK) 6-1 7-5 Petra Martic (CRO) beat Svetlana Kuznetsova (RUS) 6-4 6-2 Lara Arruabarrena (ESP) beat Marta Kostyuk (UKR) 6-3 4-6 6-2 11-Julia Goerges (GER) beat Timea Babos (HUN) 6-2 6-4 4-Elina Svitolina (UKR) beat Alize Cornet (FRA) 6-2 6-2 Irina-Camelia Begu (ROU) beat 5-Jelena Ostapenko (LAT) 6-3 6-3 Kristina Mladenovic (FRA) beat 12-Coco Vandeweghe (USA) 7-5 6-0 Kiki Bertens (NED) beat Maria Sakkari (GRE) 6-4 6-4 | ashraq/financial-news-articles | https://uk.reuters.com/article/tennis-atp-results-womens-singles/atp-world-tour-masters-1000-wta-premier-madrid-masters-womens-singles-results-idUKMTZXEE56A91J3A |
Populist parties are a step away from hate: UNI Global Union 2 Hours Ago "Democracy in Europe going through a very difficult phase, if not a crisis," says General Secretary Philip Jennings. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/30/populist-parties-are-a-step-away-from-hate-uni-global-union.html |
NEW DELHI (Reuters) - India’s reluctance to play a day-night test on their next tour of Australia has surprised spinner Harbhajan Singh, who remains convinced that Virat Kohli’s team are skilled enough to conquer the challenges of pink-ball cricket.
India's Harbhajan Singh bowls during a practice session ahead of their second test cricket match against Sri Lanka in Colombo, August 19, 2015. REUTERS/Dinuka Liyanawatte/Files India have shot down a proposal to play what could have been their maiden day-night test in Adelaide in December, worried that their inexperience in the conditions could hamper their bid for a rare series win in Australia.
“I don’t know why they don’t want to play day-night test matches,” Harbhajan, India’s third highest wicket-taker in test cricket, told reporters.
“It’s an interesting format and we should try it. I am all for it. Tell me what’s the apprehension of playing with pink ball? If you play, you can adjust. It may not be as difficult as it seems.”
Indian board officials have gone on record as saying they would back anything that gave Kohli’s team their best chance of winning the four-match series against Australia, who have won all four day-night tests they have hosted.
Australia’s former test batsman Mark Waugh has called it a “selfish” decision by the Indian board which also hindered efforts to reinvigorate test cricket.
Harbhajan felt the board may have underestimated the skills of their own players.
“We have fast bowlers to trouble them. And what makes us think our batsmen can’t take up the challenge of facing Aussie pacers?” asked the 37-year-old, who played the last of his 103 tests in 2015.
“It’s a challenge, and what’s the harm in taking up the challenge? When we were new to test cricket, we had only learnt how to bowl with the SG test ball and then slowly learnt to bowl with Kookaburra and Dukes.
“Don’t you accept the challenge of playing England in overcast conditions in their country? Isn’t that a challenge? If we could take up that challenge why not pink-ball cricket?”
Reporting by Amlan Chakraborty in New Delhi; Editing by John O'Brien
| ashraq/financial-news-articles | https://in.reuters.com/article/cricket-india-pinkball/cricket-indias-pink-ball-shyness-leave-harbhajan-perplexed-idINKCN1IJ0ZH |
MILAN (Reuters) - French telecoms operator Iliad is set to hold a press conference in Milan on Tuesday to unveil its “revolution” of the Italian telecoms sector, a Facebook announcement showed.
FILE PHOTO: French broadband Internet provider Iliad Chief Financial Officer Thomas Reynaud attends the company's 2015 annual first half results presentation in Paris, August 31, 2015. REUTERS/Charles Platiau/File Photo Last week the company, majority-owned by billionaire founder Xavier Niel, said its much-expected Italy debut was pencilled in for June 21, after delaying initial plans for a launch at the start of this year.
Asked about details on the Tuesday briefing, which will be webcast on social media, the company declined to comment.
Reporting by Agnieszka Flak and Gwenaelle Barzic, editing by Valentina Za
| ashraq/financial-news-articles | https://www.reuters.com/article/us-iliad-italy/iliad-to-brief-media-on-its-revolution-of-italys-telecoms-tuesday-idUSKCN1IQ2G0 |
NEWPORT BEACH, Calif., Pacific Health Care Organization, Inc., (the “Company”) (OTCQB: PFHO) today filed with the Securities and Exchange Commission (the “Commission”) its quarterly report on Form 10-Q announcing financial results for the quarter ended March 31, 2018.
Quarterly Results
The Company reported total revenue of $1,583,309 for the quarter ended March 31, 2018, compared with total revenue of $1,541,256 for the quarter ended March 31, 2017. The Company reported net income of $399,681 or $0.12 per basic shares and $0.11 per fully diluted shares for the first quarter 2018, compared to net income of $222,257 or $0.07 per basic and fully diluted shares for the first quarter 2017.
Net cash provided by operations was $893,598 during the three months ended March 31, 2018, compared to $87,094 for the same period in 2017. The Company’s cash balance at March 31, 2018 and December 31, 2017, was $6,705,681 and $5,815,071, respectively.
About Pacific Health Care Organization, Inc.
The Company specializes in workers’ compensation cost containment. The Company’s business objective is to deliver value to its clients that reduces their workers’ compensation related medical claims expense in a manner that will assure that injured employees receive high quality healthcare that allows them to recover from injury and return to gainful employment without undue delay. Workers’ compensation costs continue to increase due to rising medical costs, inflation, fraud and other factors. Medical and indemnity costs associated with workers’ compensation in the state of California are billions of dollars annually. Through its wholly-owned subsidiaries, the Company provides a range of effective workers’ compensation cost containment services, including but not limited to, Health Care Organizations, Medical Provider Networks, HCO + MPN, Workers’ Compensation Carve-Outs, Utilization Review, Medical Bill Review, Nurse Case Management, Lien Representation, Legal Support and Medicare Set Aside services.
“Safe Harbor” Statement: Statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. Forward-looking statements are based on management’s current judgment, expectations, estimates, projections and assumptions about future events. While management believes these assumptions are reasonable, such statements are not guarantees of future results and involve certain risks and uncertainties which are difficult to predict. Therefore, actual results and trends may differ materially from what is forecast in any forward-looking statement due to a variety of factors. Additional information regarding these factors, such as the potential loss of one or more key customers, is contained in the Company’s filings with the Commission, including without limitation, its annual report on Form 10-K and its quarterly reports on Form 10-Q.
All forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
To view the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2018, filed with the Commission today and the Company’s annual, quarterly and current reports and other information the Company files with the U.S. Securities and Exchange Commission go to: http://www.sec.gov . You may also view our annual report on Form 10-K on our website at http://www.pacifichealthcareorganization.com .
Pacific Health Care Organization, Inc. 1201 Dove Street, Suite 300 Newport Beach, California 92660 Website: http://www.pacifichealthcareorganization.com Contact: Fred Odaka – CFO Email: [email protected] Phone: (949) 236-8925
Source:Pacific Health Care Organization, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/15/globe-newswire-pacific-health-care-organization-inc-reports-first-quarter-2018-results.html |
April 30 (Reuters) - MetLife Inc:
* METLIFE COMPLETES MERGER OF TWO SUBSIDIARIES Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-metlife-completes-merger-of-two-su/brief-metlife-completes-merger-of-two-subsidiaries-idUSFWN1S70QW |
May 28, 2018 / 11:16 PM / Updated 2 hours ago Mali president confirms he will run for re-election Reuters Staff 2 Min Read
BAMAKO (Reuters) - Mali’s President Ibrahim Boubacar Keita announced on state TV on Monday that he would run for re-election in a poll scheduled for the end of July. Mali's President Ibrahim Boubacar Keita is seen on arrival for the ECOWAS meeting in Abuja, Nigeria December 16, 2017. REUTERS/Afolabi Sotunde
Keita, 73, had been widely expected to run for a second term, but had not confirmed his intention. He faces growing political opposition in the capital Bamako, especially among a disaffected youth, and a raging Islamist insurgency and tit-for-tat ethnic killing in the north.
“I present myself as a candidate in the presidential election of July 29,” Keita said on state TV. “I ask you to trust in me again.”
A dozen other candidates have announced their candidacy, the strongest of which is seen as opposition leader Soumaila Cisse, a former finance minister.
Rising violence across Mali has cast doubt over the feasibility of elections in some parts, especially the north, where Islamist groups have exploited chaos and lawlessness to use the desert region as a springboard for attacks.
Dozens of ethnic Tuareg and Fulani civilians have also been killed in intercommunal violence in the north, stoked by the Islamists, while insurgents have killed scores of U.N. peacekeepers and government soldiers.
Growth has hovered around 5 percent, owing to strong cotton and gold output, but population growth at over 3 percent has eaten into those gains. Corruption remains endemic, and Mali ranks 175 on the U.N. Human Development Index, only 12 up from the bottom. Reporting by Tiemoko Diallo; Writing by Tim Cocks | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-mali-election/mali-president-confirms-he-will-run-for-re-election-idUKKCN1IT25K |
Santelli Exchange: Three basis points define 10-year note trading 10 Hours Ago | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/10/santelli-exchange-three-basis-points-define-10-year-note-trading.html |
May 13, 2018 / 4:38 PM / Updated an hour ago Salah sets record, Liverpool qualify for Champions League Reuters Staff 2 Min Read
May 13 (Reuters) - LIVERPOOL 4 BRIGHTON & HOVE ALBION 0 Soccer Football - Premier League - Liverpool vs Brighton & Hove Albion - Anfield, Liverpool, Britain - May 13, 2018 Liverpool's Mohamed Salah celebrates with the Golden Boot after the match Action Images via Reuters/Carl Recine
Mohamed Salah crowned a superb season with a new scoring record as Liverpool hammered Brighton & Hove Albion 4-0 in their final game of the Premier League season to finish fourth and qualify for next season’s Champions League.
The 25-year-old Egyptian, who arrived on Merseyside from Roma last summer, struck in the 26th minute, tucking away a left-foot strike to give his side the lead and become the first player to score 32 goals in a 38-game Premier League season. Slideshow (4 Images)
Dejan Lovren made it 2-0 with a header just before the break and Salah then provided the assist for Dominic Solanke to rifle home his first goal for Liverpool just after halftime.
Andrew Robertson fired home the fourth in the 85th minute as Liverpool rounded off a dominant display.
With the Champions League final against Real Madrid still to come, the win over Brighton put Liverpool in fourth place on 75 points, five clear of Chelsea who slumped to a 3-0 defeat away to Newcastle. Reporting by Philip O'Connor; Editing by Ian Chadband | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-england-liv-brh/salah-sets-record-liverpool-qualify-for-champions-league-idUKKCN1IE0UJ |
Market News May 2, 2018 / 1:38 PM / Updated 22 minutes ago BRIEF-Inspire Medical Systems Now Sees IPO Of 6.75 Mln Shares Of Common Stock Priced To Be Between $14 And $16 Per Share Reuters Staff 1 Min Read
May 2 (Reuters) - Inspire Medical Systems Inc:
* INSPIRE MEDICAL SYSTEMS INC NOW SEES IPO OF 6.75 MILLION SHARES OF COMMON STOCK PRICED TO BE BETWEEN $14.00 AND $16.00 PER SHARE - SEC FILING
* INSPIRE MEDICAL SYSTEMS INC SAYS HAD PREVIOUSLY EXPECTED IPO OF 5.0 MILLION SHARES OF COMMON STOCK PRICED TO BE BETWEEN $14 AND $16 PER SHARE
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PARIS (Reuters) - France will increase police numbers for the next round of protests over economic reforms after violent clashes marred the annual May Day rally in Paris, interior minister Gerard Collomb said on Wednesday.
Tear gas floats around masked protesters during clashes with French CRS riot police at the May Day labour union rally in Paris, France May 1, 2018. REUTERS/Philippe Wojazer Police said 109 people had been held in custody after Tuesday’s clashes, when masked and hooded anarchists hijacked the traditional May 1 rally held by labour unions, smashing shop windows and torching cars in parts of Paris.
Further demonstrations are planned later this week, in protest against economic reform plans by French President Emmanuel Macron.
“There will be an even greater number of security forces ... who will aim to separate those who wish to demonstrate from those who wish to vandalise,” Collomb told France 2 television on Wednesday.
Collomb defended how the police had handled the demonstration on Tuesday, although opposition politicians criticised the government for not having done enough to prevent the violence.
Authorities said around 1,200 protesters, many dressed in black, had turned up on the sidelines of the annual May Day demonstration. The protesters were from far-left anarchist groups known as Black Blocs, police said.
Macron, speaking during an official trip to Australia, condemned the violence.
Tear gas floats around masked protesters during clashes with French CRS riot police at the May Day labour union rally in Paris, France May 1, 2018. REUTERS/Philippe Wojazer Reporting by Sophie Louet and Sudip Kar-Gupta; Editing by Dominique Vidalon and Alison Williams
| ashraq/financial-news-articles | https://in.reuters.com/article/france-politics/france-to-step-up-security-before-next-protests-after-may-day-violence-minister-idINKBN1I30RU |
The Canadian dollar and other energy-related currencies rose against the dollar Wednesday, driven by a rally in oil prices.
The U.S. dollar was recently down 0.7% against its Canadian counterpart to C$1.2854. It fell 0.8% against the Norwegian krone, and lost 0.3% against the Russian ruble.
U.S. crude futures rose 3.01% to $71.14 a barrel... | ashraq/financial-news-articles | https://www.wsj.com/articles/dollar-falls-against-canadian-counterpart-1525901559 |
OTTAWA—Canada’s Liberal government said Wednesday that it would block a nearly billion-dollar Chinese-led deal for a construction company on national-security grounds.
The decision came as U.S. lawmakers in Congress push legislation that would give Washington greater power to block deals between American and Chinese companies that could risk national security.
Canada... | ashraq/financial-news-articles | https://www.wsj.com/articles/canada-blocks-china-led-deal-for-construction-firm-1527121601 |
ORLANDO, Fla., May 1, 2018 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter ended March 31, 2018. Highlights include:
Operating Results:
Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:
Quarter Ended
March 31,
2018
2017
(in thousands, except per share data)
Revenues
$
152,836
$
141,432
Net earnings available to common stockholders
$
94,698
$
51,622
Net earnings per common share
$
0.62
$
0.35
FFO available to common stockholders
$
102,769
$
78,267
FFO per common share
$
0.67
$
0.53
Core FFO available to common stockholders
$
103,030
$
88,122
Core FFO per common share
$
0.67
$
0.60
AFFO available to common stockholders
$
102,880
$
89,045
AFFO per common share
$
0.67
$
0.60
First Quarter 2018 Highlights:
FFO per common share increased 26.4% over prior year results Core FFO per common share increased 11.7% over prior year results AFFO per common share increased 11.7% over prior year results Portfolio occupancy was 99.2% at March 31, 2018 as compared to 99.1% on December 31, 2017 and March 31, 2017 Invested $177.0 million in property investments, including the acquisition of 52 properties with an aggregate 400,000 square feet of gross leasable area at an initial cash yield of 6.7% Sold 15 properties for $71.6 million producing $38.6 million of gains on sales No common shares were issued under the ATM equity program
Core FFO guidance for 2018 was increased from a range of $2.60 to $2.64 to a range of $2.62 to $2.66 per share. The 2018 AFFO is estimated to be $2.66 to $2.70 per share. The Core FFO guidance equates to net earnings of $1.51 to $1.55 per share, plus $1.11 per share of expected real estate depreciation and amortization and excludes any gains from the sale of real estate and any charges for impairments and retirement severance costs. The guidance is based on current plans and assumptions and is subject to risks and uncertainties more fully described in this press release and the company's reports filed with the Securities and Exchange Commission.
Jay Whitehurst, Chief Executive Officer, commented: "National Retail Properties' strong first quarter results highlight our ability to raise well-priced capital through dispositions, which is a meaningful strategic advantage when equity markets are choppy. Our proven capability to accretively recycle capital, combined with our highly occupied portfolio and our solid pipeline of new acquisitions, positions us to raise guidance for 2018 and continue our track record of consistent per share growth on a multi-year basis."
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 million square feet and with a weighted average remaining lease term of 11.4 years. For more information on the company, visit www.nnnreit.com .
Management will hold a conference call on May 1, 2018, at 10:30 a.m. ET to review these results. The call can be accessed on the National Retail Properties web site live at http://www.nnnreit.com . For those unable to listen to the live broadcast, a replay will be available on the company's web site. In addition, a summary of any earnings guidance given on the call will be posted to the company's web site.
Statements in this press release that are not strictly historical are "forward-looking" statements. These statements generally are characterized by the use of terms such as "believe," "expect," "intend," "may," "estimated," or other similar words or expressions. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, changes in interest rates, increases in operating costs, the preferences and financial condition of the company's tenants, the availability of capital, and, risks related to the company's status as a REIT. Additional information concerning these and other factors that could cause actual results to differ materially from these forward-looking statements is contained from time to time in the company's Securities and Exchange Commission (the "Commission") filings, including, but not limited to, the company's Annual Report on Form 10-K. Copies of each filing may be obtained from the company or the Commission. Such forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. National Retail Properties, Inc. undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
The reported results are preliminary and not final and there can be no assurance that the results will not vary from the final information filed on Form 10-Q with the Commission for the quarter ended March 31, 2018. In the opinion of management, all adjustments considered necessary for a fair presentation of these reported results have been made.
Funds From Operations, commonly referred to as FFO, is a relative non-GAAP financial measure of operating performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO is defined by the National Association of Real Estate Investment Trusts ("NAREIT") and is used by the company as follows: net earnings (computed in accordance with GAAP) plus depreciation and amortization of assets unique to the real estate industry, excluding gains (or including losses), any applicable taxes and noncontrolling interests on the disposition of certain assets, the company's share of these items from the company's unconsolidated partnerships and any impairment charges on a depreciable real estate asset.
FFO is generally considered by industry analysts to be the most appropriate measure of performance of real estate companies. FFO does not necessarily represent cash provided by operating activities in accordance with GAAP and should not be considered an alternative to net earnings as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions. Management considers FFO an appropriate measure of performance of an equity REIT because it primarily excludes the assumption that the value of the real estate assets diminishes predictably over time, and because industry analysts have accepted it as a performance measure. The company's computation of FFO may differ from the methodology for calculating FFO used by other equity REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net earnings (computed in accordance with GAAP) to FFO, as defined by NAREIT, is included in the financial information accompanying this release.
Core Funds From Operations ("Core FFO") is a non-GAAP measure of operating performance that adjusts FFO to eliminate the impact of certain GAAP income and expense amounts that the company believes are infrequent and unusual in nature and/or not related to its core real estate operations. Exclusion of these items from similar FFO-type metrics is common within the REIT industry, and management believes that presentation of Core FFO provides investors with a potential metric to assist in their evaluation of the company's operating performance across multiple periods and in comparison to the operating performance of its peers because it removes the effect of unusual items that are not expected to impact the company's operating performance on an ongoing basis. Core FFO is used by management in evaluating the performance of the company's core business operations and is a factor in determining management compensation. Items included in calculating FFO that may be excluded in calculating Core FFO may include items like transaction related gains, income or expense, impairments on land or commercial mortgage residual interests, preferred stock redemption costs or other non-core amounts as they occur. The company's computation of Core FFO may differ from the methodology for calculating Core FFO used by other equity REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net earnings (computed in accordance with GAAP) to Core FFO is included in the financial information accompanying this release.
Adjusted Funds From Operations ("AFFO") is a non-GAAP financial measure of operating performance used by many companies in the REIT industry. AFFO adjusts FFO for certain non-cash items that reduce or increase net income in accordance with GAAP. AFFO should not be considered an alternative to net earnings, as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions. Management considers AFFO a useful supplemental measure of the company's performance. The company's computation of AFFO may differ from the methodology for calculating AFFO used by other equity REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net earnings (computed in accordance with GAAP) to AFFO is included in the financial information accompanying this release.
National Retail Properties, Inc.
(in thousands, except per share data)
(unaudited)
Quarter Ended
March 31,
2018
2017
Income Statement Summary
Revenues:
Rental and earned income
$
148,605
$
137,298
Real estate expense reimbursement from tenants
4,158
3,860
Interest and other income from real estate transactions
73
274
152,836
141,432
Operating expenses:
General and administrative
8,697
8,919
Real estate
5,862
5,663
Depreciation and amortization
44,498
40,143
Impairment losses – real estate and other charges, net of recoveries
2,248
1,206
Retirement severance costs
261
—
61,566
55,931
Other expenses (revenues):
Interest and other income
(25)
(137)
Interest expense
26,602
26,614
26,577
26,477
Earnings before gain on disposition of real estate
64,693
59,024
Gain on disposition of real estate
38,596
14,624
Earnings including noncontrolling interests
103,289
73,648
Loss (earnings) attributable to noncontrolling interests
(9)
9
Net earnings attributable to NNN
103,280
73,657
Series D preferred stock dividends
—
(3,598)
Series E preferred stock dividends
(4,097)
(4,097)
Series F preferred stock dividends
(4,485)
(4,485)
Excess of redemption value over carrying value of Series D
preferred shares redeemed
—
(9,855)
Net earnings available to common stockholders
$
94,698
$
51,622
Weighted average common shares outstanding:
Basic
153,041
146,930
Diluted
153,393
147,280
Net earnings per share available to common stockholders:
Basic
$
0.62
$
0.35
Diluted
$
0.62
$
0.35
National Retail Properties, Inc.
(in thousands, except per share data)
(unaudited)
Quarter Ended
March 31,
2018
2017
Funds From Operations (FFO) Reconciliation:
Net earnings available to common stockholders
$
94,698
$
51,622
Real estate depreciation and amortization
44,419
40,063
Gain on disposition of real estate
(38,596)
(14,624)
Impairment losses – depreciable real estate, net of recoveries
2,248
1,206
Total FFO adjustments
8,071
26,645
FFO available to common stockholders
$
102,769
$
78,267
FFO per common share:
Basic
$
0.67
$
0.53
Diluted
$
0.67
$
0.53
Core Funds From Operations Reconciliation:
Net earnings available to common stockholders
$
94,698
$
51,622
Total FFO adjustments
8,071
26,645
FFO available to common stockholders
102,769
78,267
Excess of redemption value over carrying value of preferred
share redemption
—
9,855
Retirement severance costs
261
—
Total Core FFO adjustments
261
9,855
Core FFO available to common stockholders
$
103,030
$
88,122
Core FFO per common share:
Basic
$
0.67
$
0.60
Diluted
$
0.67
$
0.60
Quarter Ended
March 31,
2018
2017
Adjusted Funds From Operations (AFFO) Reconciliation:
Net earnings available to common stockholders
$
94,698
$
51,622
Total FFO adjustments
8,071
26,645
Total Core FFO adjustments
261
9,855
Core FFO available to common stockholders
103,030
88,122
Straight line accrued rent
(998)
(675)
Net capital lease rent adjustment
228
231
Below-market rent amortization
(697)
(660)
Stock based compensation expense
2,145
2,581
Capitalized interest expense
(828)
(554)
Total AFFO adjustments
(150)
923
AFFO available to common stockholders
$
102,880
$
89,045
AFFO per common share:
Basic
$
0.67
$
0.61
Diluted
$
0.67
$
0.60
Other Information:
Percentage rent
$
546
$
548
Amortization of debt costs
$
888
$
859
Scheduled debt principal amortization (excluding maturities)
$
134
$
127
Non-real estate depreciation expense
$
81
$
82
2018 Earnings Guidance:
Core FFO guidance for 2018 is $2.62 to $2.66 per share. The 2018 AFFO is estimated to be $2.66 to $2.70 per share. The FFO guidance equates to net earnings of $1.51 to $1.55 per share, plus $1.11 per share of expected real estate depreciation and amortization and excludes any gains from the sale of real estate and any charges for impairments and retirement severance costs. The guidance is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the company's reports filed with the Securities and Exchange Commission.
2018 Guidance
Net earnings per common share excluding any gains on sale of real estate, impairment
charges or retirement severance costs
$1.51 - $1.55 per share
Real estate depreciation and amortization per share
$1.11 per share
Core FFO per share
$2.62 - $2.66 per share
AFFO per share
$2.66 - $2.70 per share
G&A expenses (excluding retirement severance costs)
$34 - $35 Million
Real estate expenses, net of tenant reimbursements
$8 - $9 Million
Acquisition volume
$500 - $600 Million
Disposition volume
$100 - $140 Million
National Retail Properties, Inc.
(in thousands)
(unaudited)
March 31,
2018
December 31,
2017
Balance Sheet Summary
Assets:
Real estate:
Accounted for using the operating method, net of accumulated
depreciation and amortization
$
6,529,910
$
6,426,640
Accounted for using the direct financing method
9,422
9,650
Real estate held for sale
3,791
6,371
Cash and cash equivalents
4,002
1,364
Receivables, net of allowance
3,863
4,317
Accrued rental income, net of allowance
26,361
25,916
Debt costs, net of accumulated amortization
5,062
5,380
Other assets
78,245
80,896
Total assets
$
6,660,656
$
6,560,534
Liabilities:
Line of credit payable
$
176,400
$
120,500
Mortgages payable, including unamortized premium and net of
unamortized debt cost
13,149
13,300
Notes payable, net of unamortized discount and unamortized
debt costs
2,447,393
2,446,407
Accrued interest payable
36,379
20,311
Other liabilities
122,829
119,106
Total liabilities
2,796,150
2,719,624
Stockholders' equity of NNN
3,864,180
3,840,593
Noncontrolling interests
326
317
Total equity
3,864,506
3,840,910
Total liabilities and equity
$
6,660,656
$
6,560,534
Common shares outstanding
153,848
153,577
Gross leasable area, Property Portfolio (square feet)
29,116
29,093
National Retail Properties, Inc.
Debt Summary
As of March 31, 2018
(in thousands)
(unaudited)
Unsecured Debt
Principal
Principal,
Net of
Unamortized
Discount
Stated Rate
Effective
Rate
Maturity Date
Line of credit payable
$
176,400
$
176,400
L + 87.5 bps
2.546%
January 2022
Unsecured notes payable:
2021
300,000
298,324
5.500%
5.689%
July 2021
2022
325,000
322,523
3.800%
3.985%
October 2022
2023
350,000
348,584
3.300%
3.388%
April 2023
2024
350,000
349,533
3.900%
3.924%
June 2024
2025
400,000
399,236
4.000%
4.029%
November 2025
2026
350,000
346,564
3.600%
3.733%
December 2026
2027
400,000
398,446
3.500%
3.548%
October 2027
Total
2,475,000
2,463,210
Total unsecured debt (1)
$
2,651,400
$
2,639,610
Debt costs
(22,682)
Accumulated amortization
6,865
Debt costs, net of accumulated amortization
(15,817)
Notes payable, net of unamortized discount and
unamortized debt costs
$
2,447,393
(1)
Unsecured notes payable have a weighted average interest rate of 4.0% and a weighted average maturity of 6.7 years.
Mortgages Payable
Principal
Balance
Interest Rate
Maturity Date
Mortgage (1)
13,236
5.230%
July 2023
Debt costs
(147)
Accumulated amortization
60
Debt costs, net of accumulated amortization
(87)
Mortgages payable, including unamortized
premium and net of unamortized debt costs
$
13,149
(1) Includes unamortized premium
National Retail Properties, Inc.
Property Portfolio
Top 20 Lines of Trade
As of March 31,
Line of Trade
2018 (1)
2017 (2)
1.
Convenience stores
17.9
%
16.8
%
2.
Restaurants – full service
12.0
%
11.7
%
3.
Restaurants – limited service
8.0
%
7.5
%
4.
Automotive service
7.6
%
7.0
%
5.
Family entertainment centers
6.4
%
6.1
%
6.
Health and fitness
5.6
%
5.7
%
7.
Theaters
4.8
%
4.9
%
8.
Automotive parts
3.6
%
3.8
%
9.
Recreational vehicle dealers, parts and accessories
3.1
%
3.4
%
10.
Wholesale clubs
2.4
%
2.3
%
11.
Banks
2.4
%
2.7
%
12.
Medical service providers
2.3
%
2.4
%
13.
Equipment rental
2.0
%
0.7
%
14.
Drug stores
2.0
%
2.1
%
15.
Furniture
1.9
%
1.9
%
16.
General merchandise
1.8
%
1.8
%
17.
Travel plazas
1.8
%
1.9
%
18.
Consumer electronics
1.7
%
1.9
%
19.
Home improvement
1.7
%
1.9
%
20.
Home furnishings
1.6
%
1.7
%
Other
9.4
%
11.8
%
Total
100.0
%
100.0
%
Top 10 States
State
% of Total (1)
State
% of Total (1)
1.
Texas
18.0
%
6.
Georgia
4.8
%
2.
Florida
8.8
%
7.
Tennessee
3.9
%
3.
Ohio
5.5
%
8.
Indiana
3.9
%
4.
Illinois
5.3
%
9.
Virginia
3.9
%
5.
North Carolina
5.0
%
10.
Alabama
3.1
%
(1)
Based on the annualized base rent for all leases in place as of March 31, 2018.
(2)
Based on the annualized base rent for all leases in place as of March 31, 2017.
National Retail Properties, Inc.
Property Portfolio
Top Tenants ( ≥ 2.0%)
Properties
% of Total (1)
7-Eleven
152
6.2%
Mister Car Wash
96
4.1%
Camping World
40
3.9%
LA Fitness
30
3.9%
AMC Theatre
20
3.4%
Couche-Tard (Pantry)
86
3.2%
GPM Investments (Convenience Stores)
103
2.8%
Bell American (Taco Bell)
115
2.6%
BJ's Wholesale Club
9
2.4%
Chuck E. Cheese's
53
2.3%
SunTrust
99
2.3%
Frisch's Restaurant
74
2.0%
Lease Expirations (2)
% of
Total (1)
# of
Properties
Gross Leasable
Area (3)
% of
Total (1)
# of
Properties
Gross Leasable
Area (3)
2018
1.4%
46
520,000
2024
2.2%
50
833,000
2019
2.6%
74
1,079,000
2025
4.6%
129
1,132,000
2020
3.5%
126
1,576,000
2026
5.6%
183
1,854,000
2021
4.1%
121
1,320,000
2027
8.4%
194
2,717,000
2022
6.3%
125
1,697,000
2028
5.6%
174
1,353,000
2023
2.9%
110
1,293,000
Thereafter
52.8%
1,439
13,378,000
(1)
Based on the annual base rent of $594,023,000, which is the annualized base rent for all leases in place as of March 31, 2018.
(2)
As of March 31, 2018, the weighted average remaining lease term is 11.4 years.
(3)
Square feet.
View original content: http://www.prnewswire.com/news-releases/record-first-quarter-2018-operating-results-and-increased-2018-guidance-announced-by-national-retail-properties-inc-300639579.html
SOURCE National Retail Properties, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/pr-newswire-record-first-quarter-2018-operating-results-and-increased-2018-guidance-announced-by-national-retail-properties-inc.html |
SOCHI, Russia (Reuters) - Russian President Vladimir Putin said at a meeting with German Chancellor Angela Merkel on Friday that he would stand up to any attempts by U.S. President Donald Trump to block a Russian-German gas pipeline project.
Russian President Vladimir Putin and German Chancellor Angela Merkel shake hands following a joint news conference in the Black Sea resort of Sochi, Russia May 18, 2018. REUTERS/Sergei Karpukhin Berlin and Moscow have been at loggerheads since Russia’s annexation of Crimea four years ago, but they share a common interest in the Nord Stream 2 pipeline project, which will allow Russia to export more natural gas to northern Europe.
A U.S. government official this week said Washington had concerns about the project, and that companies involved in Russian pipeline projects faced a higher risk of being hit with U.S. sanctions.
“Donald is not just the U.S. president, he’s also a good, tough entrepreneur,” Putin said at a news conference, alongside Merkel, after the two leaders had talks in the Russian Black Sea resort of Sochi.
“He’s promoting the interests of his business, to ensure the sales of liquefied natural gas on the European market,” Putin said, departing from his usual approach of being scrupulously respectful when speaking about Trump.
“But it depends on us, how we build our relations with our partners, it will depend on our partners in Europe.”
“We believe it (the pipeline) is beneficial for us, we will fight for it.”
As well as the differences over Nord Stream 2, European capitals are at odds with Washington over Trump’s decision to withdraw from the Iranian nuclear deal. Moscow shares Europe’s position on the deal.
Some commentators have said that a shared opposition to Trump’s stances on Iran and other issues could lead to a rapprochement between Europe and Russia, repairing a relationship badly damaged by the Ukraine conflict.
Merkel, who earlier in the day received a bouquet of pink and white roses from Putin as she arrived at his residence in Sochi, also hinted at tensions between Berlin and the Trump administration.
Asked about differences with the United States over the Iran deal and other issues, Merkel told reporters: “We have a strong transatlantic friendship, which during its history has had to withstand many questions of different opinions, and I think that might be the case now as well.”
While the Russian leader is frequently critical of U.S. policy, he has been meticulous about not attaching blame to Trump personally. Kremlin officials have said in the past the two men have a personal rapport that Putin wishes to preserve.
Related Coverage Russia signals counter-sanctions bill may be diluted PIPELINE POLITICS European states involved in Nord Stream 2 say it is a purely commercial project but the Trump administration say it is helping the Kremlin pursue its political agenda.
The pipeline may result in less Russian gas being transported via Ukraine, depriving Kiev’s struggling pro-Western government of transit fees that are a vital source of revenue.
In a nod to the U.S. concerns, Merkel said Russian gas should still be pumped through Ukraine. “We see Nord Stream 2 as an economic project but it also has implications and that’s why we are working on what guarantees Ukraine could be given,” she said.
Putin said he was willing to negotiate with Kiev about continued transit of Russian gas.
Despite the common ground on Nordstream and the Iran deal, long-standing tensions in the Berlin-Moscow relationship surfaced at the news briefing.
Merkel said she was worried about a new property law implemented by the government of Syria, which is backed by Moscow. Rights activists say the law allows the Syrian government to deprive people who have been displaced by the fighting of their homes.
“That is bad news for people who want one day to return to Syria. We will discuss that intensively and ask Russia to use their influence to persuade Assad not to do that. We must prevent facts being created on the ground,” Merkel said.
Putin a day earlier had received Syrian leader Bashar al-Assad at his residence in Sochi for talks.
At the briefing with Merkel, the Russian president chided European leaders over Syria, saying if they want Syrian refugees living in their countries to return home, Europe had to commit to reconstruction in Syria.
Diplomats say that is a bone of contention, because European governments believe Russia should pay the lion’s share of the multi-billion-dollar reconstruction cost since it is the main military force and powerbroker in Syria.
Additional reporting by Moscow and Berlin bureaux; Writing by Christian Lowe; Editing by Richard Balmforth
| ashraq/financial-news-articles | https://www.reuters.com/article/us-russia-germany-merkel-putin/putin-seeks-common-cause-with-merkel-over-trump-idUSKCN1IJ1ZL |
BOSTON, May 17, 2018 (GLOBE NEWSWIRE) -- The Boston Consulting Group (BCG) , one of the world’s leading management consulting firms, announced today that Rich Lesser was elected for a third three-year term as its President and Chief Executive Officer, effective October 1, 2018.
Rich’s re-election comes on the heels of another year of strong, double-digit growth for BCG in 2017 and a remarkable four-year period in which growth has averaged 15% per year. Fueled by this performance, the firm continues to expand its market-leading capabilities to create unique value and advantage for its clients, delivered across 50 countries by 16,000 employees, including more than 1,100 partners.
BCG’s partner group re-elected Rich in a multi-round voting process. Each BCG partner, regardless of seniority, has an equal vote in the CEO election, a reflection of BCG’s collaborative, non-hierarchical culture and unique model of governance and partnership.
“I want to thank my fellow partners for their renewed trust and confidence,” said Rich. “I am enormously honored and energized to continue as BCG’s CEO, and I look forward to continuing to work with our incredibly talented, diverse teams to help our clients thrive in a rapidly changing world.”
Among Rich’s priorities for his third term will be broadening and deepening BCG’s client relationships through focused investments in both industry and functional expertise, including digital, analytics, and other transformative capabilities. He intends to continue strengthening BCG’s people agenda, with a big push on diversity, agile ways of working, and new career path experiences across BCG’s fast-growing and diversifying portfolio of capabilities and businesses. Rich remains deeply committed to BCG’s contributions to society more broadly through the firm’s sustained focus on social impact, working alongside leading global and local institutions.
BCG was founded in 1963 by the late Bruce Henderson and has been led by just six CEOs during the course of its history.
For further information, please contact Eric Gregoire at +1 617 850 3783 or [email protected] .
About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com .
The Boston Consulting Group
Eric Gregoire
Global Media Relations Senior Manager
Tel +1 617 850 3783
Fax +1 617 850 3701
[email protected]
Source: BCG | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/globe-newswire-bcg-re-elects-rich-lesser-as-chief-executive-officer.html |
S&P Global Platts' Fraenkel: Trade wars have unexpected consequences 18 Hours Ago Heated talk of tariffs is lifting aluminum prices in the U.S., Martin Fraenkel, president of S&P Global Platts, said. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/18/sp-global-platts-fraenkel-trade-wars-have-unexpected-consequences.html |
May 15 (Reuters) - Sea Ltd:
* SEA LIMITED REPORTS FIRST QUARTER 2018 RESULTS * Q1 REVENUE $155 MILLION VERSUS I/B/E/S VIEW $160.7 MILLION
* QTRLY GROUP TOTAL ADJUSTED REVENUE WAS US$197.0 MILLION, UP 81.2% YEAR-ON-YEAR FROM US$108.8 MILLION FOR Q1 OF 2017
* QTRLY AVERAGE REVENUE PER USER (“ARPU”) WAS US$1.2 COMPARED TO US$1.8 FOR Q1 OF 2017
* QTRLY GROSS MERCHANDISE VALUE (“GMV”) WAS US$1.9 BILLION, AN INCREASE OF 199.5% YEAR-ON-YEAR FROM US$648.3 MILLION FOR Q1 OF 2017
* QTRLY LOSS PER SHARE $0.64 * GROSS ORDERS FOR QUARTER TOTALED 111.4 MILLION, AN INCREASE OF 217.4% YEAR-ON-YEAR FROM 35.1 MILLION FOR Q1 OF 2017
* QUARTERLY ACTIVE USERS (“QAUS”) REACHED 126.7 MILLION, AN INCREASE OF 124.6% YEAR-ON-YEAR FROM 56.4 MILLION FOR Q1 OF 2017 Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-sea-ltd-q1-revenue-155-mln-vs-i-b/brief-sea-ltd-q1-revenue-155-mln-vs-i-b-e-s-view-160-7-mln-idUSASC0A2IK |
By Kirsten Korosec 1:45 AM EDT
Tesla has repeatedly fallen short of its production targets for the Model 3 — the company’s important mass-market electric car — blaming the chronic deficit on suppliers , and an over-reliance on complicated automation , as well bottlenecks with battery production at Tesla’s gigafactory near Reno.
Now Tesla CEO Elon Musk is turning to intensive collaboration between programmers to help clear out production bottlenecks. Musk revealed Sunday that a hackathon was underway to fix the two worst robot production choke points. He tweeted the information in a response to an Ars Technica tweet that promoted an article on how Tesla was repeating mistakes made by automakers in the 1980s.
Musk tweeted: “Fair criticism, but we’re fixing it fast. Hackathon going on right now to fix 2 worst robot production choke points. Looks promising.” Fair criticism, but we’re fixing it fast. Hackathon going on right now to fix 2 worst robot production chokepoints. Looks promising.
— Elon Musk (@elonmusk) May 14, 2018
Tesla’s Model 3 production problems were first revealed in early October when the automaker reported it had produced just 260 of its new Model 3 electric cars in the third quarter and delivered only 220. Production improved to 2,425 Model 3s in the fourth quarter and 1,542 deliveries, but it was still below expectations.
Tesla reported in April that it had fallen short of its target to produce 2,500 Model 3s per week by the end of the first quarter. The company produced 2,020 Model 3 vehicles in a week at the end of the quarter, prompting Musk to admit that his reliance on automation had caused production bottlenecks. SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/14/elon-musk-hackathon-tesla-model-3/ |
NEW YORK (Reuters) - The amount of U.S. commercial paper grew in the week ended May 9 Federal Reserve data showed on Thursday.
U.S. seasonally adjusted commercial paper outstanding rose $6.2 billion to $1.059 trillion in the latest week.
Non-seasonally adjusted commercial paper outstanding - which some analysts consider a more reliable reading than the seasonally adjusted one since it has been distorted by the financial crisis - rose $2.1 billion to $1.114 trillion.
U.S. non-seasonally adjusted foreign financial commercial paper outstanding rose $2.2 billion to $297.1 billion.
| ashraq/financial-news-articles | https://www.reuters.com/article/us-usa-economy-commercialpaper/u-s-commercial-paper-market-grows-in-week-fed-idUSKBN1IB1ZG |
SINGAPORE (Reuters) - An earthquake of magnitude 6.2 struck on Wednesday in the Central Asian nation of Tajikistan, in its mountainous border region near Afghanistan, the United States Geological Survey said.
The quake set buildings shaking in the Afghan capital of Kabul, but there were no immediate reports of damage or casualties. The tremor hit at a depth of 96 km (60 miles), about 67 km (42 miles) south of the provincial capital of Khorugh.
Reporting by Clarence Fernandez; Editing by Kim Coghill
| ashraq/financial-news-articles | https://www.reuters.com/article/us-tajikistan-quake/earthquake-of-magnitude-6-2-strikes-in-tajikistan-near-afghan-border-usgs-idUSKBN1IA1GY |
JACKSONVILLE, Fla., May 09, 2018 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of technologies and products for wireless applications, will hold a conference call and webcast to discuss first quarter 2018 financial results on Tuesday, May 15, 2018 at 4:30 p.m. Eastern Time. Jeffrey Parker, Chief Executive Officer, and Cindy Poehlman, Chief Financial Officer, will review the Company's results, which will be released after the close of trading that day, as well as provide a general corporate update.
Date: Tuesday, May 15, 2018
Time: 4:30 P.M. ET
To listen via live webcast, please go to the ParkerVision website at: https://parkervision.gcs-web.com/events-and-presentation .
To participate in the teleconference, please dial (10 min. before conference is scheduled to begin):
Domestic toll-free: 1-877-561-2750
International: 1-763-416-8565
Conference ID: 6083949
If you are unable to participate during the live conference call and webcast, the conference call will be archived and available for replay in the Investor Relations section of the Company's website at http://parkervision.com for approximately 90 days.
About ParkerVision, Inc.
ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies, which enable advanced wireless solutions for current and next generation communications networks. ParkerVision also develops and markets a family of products under the Milo® brand that leverages existing Wi-Fi infrastructure to create more optimal Wi-Fi configuration and superior coverage for small businesses and consumers. For more information please visit www.parkervision.com and www.milowifi.com .
Contact:
Cindy Poehlman
Chief Financial Officer
ParkerVision, Inc.
904-732-6100
[email protected]
Jean Young
The Piacente Group
212-481-2050
[email protected]
Source:ParkerVision, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/09/globe-newswire-parkervision-to-host-first-quarter-2018-conference-call-and-webcast-on-may-15-at-430-pm-et.html |
BEIJING (Reuters) - China’s vast manufacturing sector grew at the fastest pace in eight months in May, blowing past expectations and easing concerns about an economic slowdown even as risks from trade tensions with the United States and a crackdown on debt point to a bumpy ride ahead.
The official Purchasing Managers’ Index (PMI) released on Thursday rose to 51.9 in May, from 51.4 in April, and remained well above the 50-point mark that separates growth from contraction for the 22nd straight month.
Analysts surveyed by Reuters had forecast the reading would dip slightly to 51.3.
Production expanded at the fastest rate in six months in May while growth in new orders rose to an 8-month high, helped by rising commodities prices.
The strong manufacturing sector readings defy concerns about an expected loss of momentum in the world’s second-biggest economy, as policymakers navigate debt risks and rocky trade relations with the United States.
In particular, export orders improved from the previous month. Some economists suspect that Chinese firms have been front-loading shipments due to the Sino-U.S. trade frictions.
On the whole, however, economists were skeptical of the sustainability of industrial sector strength, suggesting the broader economy will face pressure over coming months.
“We doubt this strength will be sustained for long given that it appears to mostly reflect a temporary boost to industrial output from the easing of pollution controls rather than a turnaround in underlying demand,” said Julian Evans-Pritchard, Senior China Economist at Capital Economics, in a note after the data release.
Nomura analysts were also of the view the strong PMI readings will be short-lived, saying “the growth of end-demand, such as infrastructure and property investment, has slumped in recent months, due at least in part to the government’s deleveraging efforts.”
SMALL FIRMS FACE FUNDING PRESSURES Beijing has been tightening controls on riskier investments, the shadow banking business and speculation in the property sector, but has been keen to keep the broad economy well funded.
The industrial sector, a key source of jobs, remained in healthy shape, with profits growing at their fastest pace in six months, underpinned by continued strength in the steel sector.
But the latest survey showed that more manufacturers were concerned about tightening in funding over recent months, with 40.1 percent of all firms polled raising the issue in May, according to Zhao Qinghe, an official with the statistics bureau.
“Big cost pressure is still one of the major problems facing Chinese manufacturers these days,” said Zhao.
Activity of small firms contracted in May after expanding the previous month while both big and medium-sized companies all posted positive growth.
Hi-tech manufacturing activity rose to 54.8 in May, up from April’s 53.8, despite pending U.S. tariff list under its intellectual property probe and restrictions on Chinese investments in the U.S.
Washington said on Tuesday that it was moving forward with its threat to apply tariffs on Chinese imports worth up to $50 billion, reviving fresh worries of a trade war between the world’s two biggest economies. Trade tensions had ebbed only recently after Beijing pledged to buy more from the United States.
China’s economy grew at a slightly faster-than-expected pace of 6.8 percent in the first quarter. However, signs of stress were evident with investment growth slowing to a near 20-year low in April and growth in retail sales sliding.
Boosted by government infrastructure spending, a resilient housing market and unexpected strength in exports, China’s manufacturers helped the economy deliver strong growth last year.
Economists still expect China’s economic growth to slow to 6.5 percent this year from 6.9 percent in 2017, citing rising borrowing costs, tougher limits on industrial pollution and a crackdown on local governments’ spending to keep their debt levels in check. <ECILT/CN>
Most China watchers had tipped growth to soften slightly in the second quarter, from a solid 6.8 percent in the first three months of the year. Yet, ANZ economists now see steady growth in the June quarter, citing support from increases in production and new orders in Thursday’s PMI survey.
A sister survey showed growth in China’s service sector also picked up pace in May, with the official non-manufacturing Purchasing Managers’ Index (PMI) edging up to 54.9 from 54.8 the previous month.
A sub-reading for construction activity, a major driver of growth in 2017, stood at 60.1 in May, down from 60.6 in April.
Chinese policymakers are counting on growth in services and consumption to rebalance their economic growth model from its heavy reliance on investment and exports. The services sector now accounts for over half of the economy, with rising wages giving Chinese consumers more spending clout.
A composite PMI covering both the manufacturing and services activity rose to 54.6 in May, from April’s 54.1.
(For graphic on China economic indicator dashboard, click: tmsnrt.rs/2lQ48De )
FILE PHOTO: Workers weld shipping container components at a container manufacturing company in Lianyungang, Jiangsu province, China May 29, 2018. REUTERS/Stringer Reporting by Stella Qiu and Ryan Woo; Editing by Shri Navaratnam
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-economy-pmi-factory-official/china-may-official-factory-growth-at-8-month-high-well-above-forecasts-idUSKCN1IW06I |
Iran: EU support of nuclear deal isn't enough 4:56am EDT - 01:39
Iran's foreign ministry says that Washington's withdraw from the nuclear agreement means Tehran may not have enough benefits to uphold their side of the deal, even with the remaining European powers still on board. ▲ Hide Transcript ▶ View Transcript
Iran's foreign ministry says that Washington's withdraw from the nuclear agreement means Tehran may not have enough benefits to uphold their side of the deal, even with the remaining European powers still on board. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://www.reuters.com/video/2018/05/21/iran-eu-support-of-nuclear-deal-isnt-eno?videoId=428974951&videoChannel=14073 | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/21/iran-eu-support-of-nuclear-deal-isnt-eno?videoId=428974951 |
May 15 (Reuters) - EQUUS Total Return Inc:
* EQUUS TOTAL RETURN INC - NET ASSETS AS OF MARCH 31, 2018, OF $43.3 MILLION, AN INCREASE OF APPROXIMATELY $0.3 MILLION SINCE DECEMBER 31, 2017
* EQUUS TOTAL RETURN INC - NET ASSET VALUE PER SHARE INCREASED TO $3.20 AS OF MARCH 31, 2018 FROM $3.18 AS OF DECEMBER 31, 2017 Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-equus-total-return-net-assets-as-o/brief-equus-total-return-net-assets-as-of-march-31-2018-of-43-3-million-idUSFWN1SM1CQ |
May 14, 2018 / 2:56 PM / Updated 37 minutes ago After Trump pledge to help China's ZTE, Commerce eyes changes David Lawder , Karen Freifeld 3 Min Read
WASHINGTON (Reuters) - The U.S. Commerce Department is exploring “alternative remedies” to punish Chinese telecommunication company ZTE Corp for flouting U.S. sanctions on trade with Iran after President Donald Trump intervened, Commerce Secretary Wilbur Ross said on Monday. FILE PHOTO: U.S. President Donald Trump speaks about lowering drug prices from the Rose Garden at the White House in Washington, U.S., May 11, 2018. REUTERS/Leah Millis
But enforcement of the sanctions infraction is a separate issue from high-level talks taking place this week in Washington about the roiling trade dispute between the United States and China, Ross said.
“The gap remains wide,” Ross told journalists during an address at the National Press Club in Washington.
Trump shocked Washington this weekend by pledging in a tweet to help ZTE ( 000063.SZ ) ( 0763.HK ), China’s second-largest telecommunication company, because he said too many jobs in China had been lost.
The company had shut down its main operations after the Commerce Department banned U.S. companies from selling components to ZTE for seven years after it illegally shipped goods made with U.S. parts to Iran and North Korea. Related Coverage U.S. Commerce's Ross says exploring alternative remedies for ZTE's actions
“ZTE did do some inappropriate things ... the question is are there alternative remedies to the ones we had originally put forward and that’s the area we will be exploring very, very promptly,” Ross said.
Ross said he expected the issue to be raised this week when top Trump administration officials meet with Chinese Vice Premier Liu in Washington to discuss trade irritants.
“Our position has been that that’s an enforcement action separate from trade,” Ross said.
The Wall Street Journal reported that Beijing would back away from threats to slap tariffs on U.S. farm goods in exchange for easing the ban on selling components to ZTE, citing people in both countries briefed on the emerging deal.
Two sources, who declined to be identified given the sensitivity of the matter, told Reuters on Sunday that China was willing in principle to import more U.S. agriculture products in return for Washington smoothing out penalties against ZTE, but they did not offer details. Reporting by Karen Freifeld, David Lawder, Doina Chiacu, Susan Heavey, Roberta Rampton; Editing by Meredith Mazzilli | ashraq/financial-news-articles | https://in.reuters.com/article/usa-china-zte/trumps-comments-on-chinas-zte-draw-security-concerns-idINKCN1IF226 |
Manny Machado hit two home runs, including a grand slam, and drove in six runs as the Baltimore Orioles defeated the Tampa Bay Rays 9-4 on Friday night at Oriole Park.
That gave the Orioles (11-27) their first three-game winning streak of the season. They hit four homers in the contest.
Machado hit a two-run homer in the first and his grand slam in the seventh off Ryne Stanek. The shortstop has three homers in his past two games, and the grand slam was the 150th homer of his career, making the 25-year old the youngest Oriole to reach that milestone.
Orioles starter Kevin Gausman (3-2) went 7 1/3 innings and gave up two runs while scattering 11 hits.
The Rays put runners in scoring position in five innings versus Gausman, but the right-hander repeatedly squirmed out of trouble. Tampa Bay outhit the Orioles, 15-10.
After Adam Jones singled with one out in the first, Machado belted a two-run homer to left-center that gave Baltimore a 2-0 lead. Machado now has homered in the first inning in each of the last two games.
Tampa Bay cut the lead to 2-1 in the third on a C.J. Cron RBI single.
The Orioles then made it 3-1 in the sixth when Jonathan Schoop doubled. Mark Trumbo led off the seventh with a homer that gave the Orioles a 4-1 lead, and Baltimore then loaded the bases with no outs and chased starter Jake Faria (3-2).
Stanek came on, and after getting two outs, gave up the Machado grand slam.
Tampa Bay scored three in the eighth, two coming on a Carlos Gomez triple off Richard Bleier. Chance Sisco added a solo homer for the Orioles in the eighth for the final run.
Brad Brach got the final four outs and earned his fifth save.
Baltimore made a move before the game with struggling right-hander Chris Tillman (1-5, 10.46 ERA) going on the 10-day disabled list due to a low back strain. The Orioles called up right-hander Jimmy Yacabonis from Triple-A Norfolk.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/baseball-mlb-bal-tb-recap/machado-homers-twice-as-orioles-rout-rays-idUSMTZEE5CLEOTFD |
May 14, 2018 / 1:19 PM / Updated an hour ago Merkel - NATO's 2 pct defence spending target not "some fetish" Reuters Staff 1 Min Read
BERLIN (Reuters) - Chancellor Angela Merkel on Monday said it was important for Germany to stand by its commitments to the NATO alliance, including moves to boost military spending toward a target of 2 percent of economic output. Banners displaying the NATO logo are placed at the entrance of new NATO headquarters during the move to the new building, in Brussels, Belgium April 19, 2018. REUTERS/Yves Herman
The target was not “some fetish,” but reflected changing security requirements in the world, Merkel told senior military officers. She said it was clear that the German military needed to rebuild its stocks of equipment after years of declining spending.
Merkel also called for Germany to remain committed to multilateral agreements at a time when the United States had withdrawn from the Iran nuclear agreement and the Paris climate deal. But she said the transatlantic relationship would remain a firm pillar of European security despite those differences. Reporting by Andrea Shalal and Riham Alkousaa; Editing by Michelle Martin | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-germany-military/merkel-natos-2-pct-defence-spending-target-not-some-fetish-idUKKCN1IF1PV |
May 2 (Reuters) - Corona Patrimonial SOCIMI SA:
* ANNOUNCED ON MONDAY FY NET PROFIT OF 8.0 MILLION EUROS VERSUS LOSS OF 4.7 MILLION EUROS YEAR AGO
* FY NET SALES 14.6 MILLION EUROS VERSUS 17.3 MILLION EUROS YEAR AGO
* Source text: bit.ly/2HOmY8c
Further company coverage: (Gdynia Newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/idUSL8N1S911D |
23 Hours Ago | 00:57
The technology sector is making its comeback, closing in on record highs after a months-long pause. Even as it roars back, one strategist says Wall Street is underestimating its potential.
"Guidance was very, very good for this group and the first-quarter numbers were more impressive than any other sector that we've seen," Lindsey Bell, investment strategist at CFRA Research, told CNBC's " Trading Nation " on Thursday.
"Yet, the numbers, the consensus sell-side analyst numbers, they didn't move very much," she added. "We saw them increase a little bit for 2018 but 2019 numbers actually came down a little bit."
Earnings in information technology are expected to rise by 9.8 percent in fiscal 2019, lower than the estimated 11 percent growth before the first-quarter reporting season began, according to FactSet. Sector earnings were revised up 240 basis points to 18.6 percent growth in fiscal 2018.
It "was a bit surprising because this is a sector that in our view is going to drive economic growth going forward," said Bell.
Even if analysts are cautious, investors are joining in on the revival rally for tech. Facebook , whose data scandal ignited the March tech sell-offs, also proved its redeemer.
"Once [Facebook] earnings were fine and we got past that, we got great earnings from a couple of other names like Microsoft and Intel — they raised guidance, everything was great so the sector started moving up," said Bell.
The information technology sector has increased 9 percent since April 25, the day Facebook reported earnings. The tech sector last suffered a drop of more than 1 percent a day earlier. Over that same period, the S&P 500 has increased just over 3 percent.
The XLK technology ETF is 2 percent from its all-time intraday highs set on March 13. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/11/wall-street-underestimates-how-strong-this-tech-rally-is-strategist.html |
Volatility is the worst enemy for IPOs, analyst says 1:15 AM ET Fri, 11 May 2018 It has been a challenging market for companies looking to float, Simona Maellare, global co-head of financial sponsors at UBS Investment Bank, said. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/11/volatility-is-the-worst-enemy-for-ipos-analyst-says.html |
COEUR D’ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company ( NYSE:HL ) today announced that Mr. Larry Radford has been appointed Chief Operating Officer of the Company effective immediately, a promotion from his previous role of Senior Vice President – Operations, overseeing Hecla’s operations, development projects, pre-development initiatives.
“Throughout his career Larry has demonstrated a strong ability to optimize operations, and you can see this in the improved performance of Greens Creek and Casa Berardi since he joined Hecla,” said Phillips S. Baker, Jr., Hecla’s President and Chief Executive Officer. “With the expected addition of the Klondex assets, Hecla is growing again and his talents will continue to be an important part of our strong team as it integrates and optimizes these new mines.”
Mr. Radford joined Hecla in 2011 and has over 35 of experience in the mining industry, providing operational and technical support to large-scale operations with Barrick and Kinross in the United States, Chile, Brazil, and Australia.
About Hecla
Founded in 1891, Hecla Mining Company ( NYSE:HL ) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada.
Cautionary Note Regarding Forward-Looking Statements
Statements made or information provided in this news release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Such forward-looking statements or forward-looking information include statements or information regarding {add text}. The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company’s operations are subject.
Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, litigation, regulatory and environmental risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the Company's Form 10K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180524005080/en/
Hecla Mining Company
Mike Westerlund
Vice President - Investor Relations
800-HECLA91 (800-432-5291)
[email protected]
Source: Hecla Mining Company | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/24/business-wire-hecla-announces-appointment-of-larry-radford-as-chief-operating-officer.html |
Having a roommate isn't always ideal, but if you could save nearly $13,000 a year, the price of sharing your space can certainly seem worth it.
StreetEasy , a real estate website, recently analyzed median asking rents in New York City for Q1 of 2018 and found that based on those numbers young people moving to the Big Apple could save $12,600 per year, or a quarter of the national average starting salary for recent college grads (which is $51,000 according to the National Association of Colleges and Employers) by having one roommate in a two-bedroom, as opposed to living in a studio or one-bedroom apartment alone.
That's about $1,050 a month in savings.
Doubling up with two roommates in a three-bedroom will stack on even more savings, StreetEasy found. Recent grads can save $16,000 a year based on median New York City asking rents — or $1,333 a month — with two roommates in New York City.
By borough, having a roommate in Brooklyn yields the most savings — $875 a month for one roommate and $1,117 a month with two. In Queens, renters can save $602 a month with one roommate and $833 with two. The savings for splitting a two bedroom in Manhattan, according to StreetEasy, is $795, and if you're splitting a three bedroom, you'll save $980 monthly.
The report found the median asking rent for a studio or one-bedroom apartment in Manhattan the first three months of 2018 was a whopping $2,745, and while other cities might not boast as pricey rents, the difference from renting a one-bedroom versus a two-bedroom can still be significant.
In Los Angeles, for example, Apartment List found the median monthly rent for a one-bedroom is $1,360 compared to the median monthly rent for a two-bedroom, which is $1,740; that's $380 in savings.
In Houston, Texas, the median monthly rent for a one-bedroom is listed at $840, in contrast to $1,020 for a two-bedroom, a $180 savings, and in San Diego, California, the median monthly rent for a one-bedroom is $1,550, compared to $2,010 for a two-bedroom, for $460 in savings.
Ways to save on your first place
In addition to finding a roommate, there are other ways to save on your first apartment. Judy Dutton, deputy editor at Realtor.com , recommends opting for a two-year lease if you know you're going to stay put; it could save you money in the long run.
"Landlords hate having to find new tenants, so they may be willing to cut you a deal on your rent when you sign a two-year lease," Dutton tells CNBC Make It in an email.
Plus, "You're essentially 'locking in' your housing costs for two years when you sign a two-year lease, and guaranteeing your rent won't go up," Dutton says.
"In return, your landlord can rest assured that he or she won't have to scramble and find another tenant in a year's time. It's win-win."
Another way to save? "Always negotiate," Grant Long, senior economist at StreetEasy, tells CNBC Make It in an email. "In many large cities, rents are high but the market is relatively weak relative to years past. Many landlords might be willing to throw in perks such as free gym access or storage, or even a month or two [of rent for] free."
And take notes on anything that's wrong with the place, says Long.
"Less than attractive elements of building [can be used] as leverage in any negotiations," Long says. "Some otherwise perfect homes might have poorly maintained common areas, dated appliances or noisy neighbors, all of which can help negotiate a lower rent."
Dutton also suggests negotiating, which she admits seems daunting, but can be done if you can prove two things.
"One, that the rent you're being charged is higher than similar places elsewhere, and two, you'd be a model tenant who'd pay rent on time," Dutton says. "You can also prove your model tenant status via letters of reference from previous landlords and your current employer."
"This is also where a good credit score will speak volumes about your potential as a tenant, since that's a measure of how well you've paid off your credit cards and other past debts," she adds.
Dutton also recommends looking for landlords who include utilities in the rent so you're only paying one lump fee every month.
But if you do pay separately, she offers this bonus tip: "Another little-known fact is that many local utility companies offer energy audits, often for free or for a minimal fee, that can save as much as 30 percent on your monthly bills," Dutton says.
"Basically an auditor will look at your records to assess at your energy consumption patterns, and maybe visit your home to check for air leaks and other problems," she explains. "You can learn more at the Residential Energy Services Network, where you can enter your ZIP code to find an auditor near you."
Don't miss: This is the most expensive zip code in the US — and it's not in California or New York
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show chapters Kevin O'Leary: Use this test to decide if you should rent or buy a house 11:47 AM ET Thu, 8 Feb 2018 | 01:28 | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/22/how-to-save-money-on-rent.html |
May 23, 2018 / 6:34 PM / Updated an hour ago Exclusive - Israeli minister says U.S. may soon recognise Israel's hold on Golan Dan Williams 6 Min Read
JERUSALEM (Reuters) - Israel is pressing the Trump administration to recognise its sovereignty over the occupied Golan Heights, an Israeli cabinet minister said on Wednesday, predicting U.S. assent could come within months. An Israeli soldier stands next to signs pointing out distances to different cities, on Mount Bental, an observation post in the Israeli-occupied Golan Heights that overlooks the Syrian side of the Quneitra crossing, Israel May 10, 2018. REUTERS/Ronen Zvulun
Interviewed by Reuters, Intelligence Minister Israel Katz described endorsement of Israel’s 51-year-old hold on the Golan as the proposal now “topping the agenda” in bilateral diplomatic talks with the United States.
Any such move would be seen as a follow-up on the U.S. exit from the international nuclear deal with Iran, and President Donald Trump’s recognition of Jerusalem as the capital of Israel and the opening of a new U.S. embassy there this month.
Trump’s moves were hailed by Israel and caused deep concern among major European allies of Washington.
There was no immediate comment from the White House on Katz’s remarks.
The Golan Heights form a strategic plateau between Israel and Syria of about 1,200 square kilometres (460 square miles).
It was part of Syria until Israel captured it in the 1967 Middle East war. It moved Israeli settlers into the area that it occupied, and annexed the territory in 1981 in a move not recognised internationally.
Once willing to consider returning the Golan for peace with Syria, the Israelis have in recent years argued that the civil war in Syria and the presence there of an Iranian garrison backing Damascus show they need to keep the strategic plateau.
Katz, a member of Prime Minister Benjamin Netanyahu’s security cabinet, cast the Golan proposal as a potential extension of the Trump administration’s confrontational tack against perceived regional expansion and aggression by Iran, Israel’s arch-enemy.
“This is the perfect time to make such a move. The most painful response you can give the Iranians is to recognise Israel’s Golan sovereignty - with an American statement, a presidential proclamation, enshrined (in law),” he said.
The message to Tehran, Katz said, would be: “You want to destroy (U.S.-ally Israel), to generate attacks (against it)? Look, you got exactly the opposite.”
The matter, raised by Netanyahu in his first White House meeting with President Donald Trump in February 2017, is now under discussion at various levels of the U.S. administration and Congress, Katz said.
“I reckon there is great ripeness and a high probability this will happen,” he said. Asked if such a decision could be made this year, he added: “Yes, give or take a few months.”
Asked about Katz’s comments, a U.S. Embassy official in Israel said: “We don’t as a general policy discuss our diplomatic communications.” Israeli Intelligence and Transportation Minister Israel Katz poses for a portrait following an interview with Reuters in New York, U.S., April 27, 2018. REUTERS/Lucas Jackson
Russia, Damascus’s big-power ally, has long insisted that Syria’s territorial integrity should be restored - a position implicitly requiring an eventual return of the part of the Golan occupied by Israel.
Katz, however, played down any prospect of a blow-up between Moscow and Washington, casting the proposed U.S. recognition of Israeli sovereignty over the Golan as a piece of a larger Syria mosaic. OPPORTUNITY
With Syrian President Bashar al-Assad beating back the insurgency against him, now could be the opportunity for Assad and Russia to show the Iranians out, Katz said.
He described the Iranian presence next door as the Netanyahu government’s main concern, by implication offering Assad a chance for immunity from Israel.
“This is a moment of truth for Assad. Does he want to be an Iranian proxy, or not?” Katz said. “If he becomes an Iranian proxy, then sooner or later he’s condemning himself, because Israel is acting against Iran in Syria ... If not, then we have always said we have no interest in getting involved there.”
Russia, Katz said, would respond to a U.S. recognition of Israeli sovereignty on the Golan with declarations that “they won’t do the same and they do not have to support this”.
“But in actuality, from their perspective, if it gives Israel something in the wider Syrian context, what do they care? Assad’s survival is more important to them, as Syria is so weak,” he said. “They want a new, overall re-arrangement.”
Katz suggested that a U.S. move on the Golan could also prod the Palestinians - who have shunned the Trump administration since it announced in December that it would relocate the embassy to Israel from Tel Aviv - to revive peace talks.
The Palestinians want East Jerusalem as the capital of their own state, along with the West Bank, also occupied by Israel in the 1967 war - among the geographical disputes that have dogged their diplomatic contacts with Israel.
“They should hurry up and sit down with Israel, because where Israel says it is determined to be, it will be, and it won’t give up, and history is working in our favour,” he said.
Syria tried to regain the Israeli-occupied Golan in the 1973 Middle East war, but the assault was thwarted. The two signed an armistice in 1974 and the land frontier has been relatively quiet since.
Since 1967, about 20,000 Israeli settlers have moved to the Golan, which also borders Jordan. Some 20,000 Druze Muslims also live there. Israel gave the Druze the option of citizenship, though most rejected it.
In 2000, Israel and Syria held their highest-level talks over a possible return of the Golan and a peace agreement. But the negotiations collapsed and subsequent talks, mediated by Turkey, also failed. Editing by Jeffrey Heller/Mark Heinrich | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-mideast-crisis-syria-israel-usa-exclu/exclusive-israeli-minister-says-u-s-may-soon-recognise-israels-hold-on-golan-idUKKCN1IO2Z2 |
Celebrating "the end of history" and trying to "manage" China's unstoppable ascent, America, with very little help from Europe, has been on a crucial mission to defend and reinforce the centuries-old system of Western governance based on democracy, rule of law and respect for human rights.
In the process, inadequate attention to U.S. foreign trade accounts and errors of economic policy have made that mission increasingly difficult. The resulting losses of wealth and proprietary technology, and an enormous accumulation of domestic and foreign debt, have led to tides of fury and ebbs of thoughtful introspection about America's role in the world.
Watching the pictures and reading the reports of last week's trade negotiations with China shows how far America has gone in the neglect of its vital interests. It would have been hard to imagine only a few years ago that Washington would be sending envoys to tell Beijing that its excessive $375 billion surplus on American trades could no longer be tolerated.
Hard indeed, especially since Washington did not need to do that.
A deal Xi could not refuse One of the first orders of business for President Donald Trump should have been to tell China's President Xi Jinping that he would like him to quickly bring down that exorbitant surplus — and to follow that up with balanced bilateral trade accounts. That would have been in full compliance with G-20 recommendations for a balanced and stable world economy, and would have also conformed to China's proclaimed commitment to "win-win cooperation."
Such a talk would be an easy conversation to test what Trump calls his "great relationship" with China's core leader. Xi is the only person in China who can fix the trade problem as simply and quickly as he brought about a spectacular change in world's war and peace conditions on the Korean Peninsula. Xi's trade negotiators are acting on his direct orders, and nothing will be done until Xi puts on it his imprimatur.
Had Trump done a deal that Xi could not refuse — while continuing his crusade for globalization, multilateralism and a "win-win" business — the negotiating teams would have only had to decide how to increase American sales to China and how to cut China's exports to the U.S. They'd be working with specific numbers and time limits to implement their leaders' agreement.
Trump, unfortunately, missed a chance to do that. He has now embarked the U.S. on a never-ending negotiating rigmarole that will lead to a serious — and very dangerous — confrontation with China. Trump can now expect increasing difficulties in his relationship with a Chinese leader who is successfully edging American influence out in many areas of Asia and beyond.
Just as the U.S. trade team was getting ready to leave Beijing last Friday, Xi was working the phones with South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe .
According to media reports, Xi, who made the recent inter-Korean summit possible, assured Moon of China's support for peace and cooperation. Moon, of course, needed no convincing from a Chinese leader who is taking more than a quarter of South Korean exports, and who hosts large investments and local production of Korean chaebols.
Work with Germany for a quick EU trade accord A much more important phone call was the first-ever such contact last Friday between Xi and Abe — a crowning achievement for Abe's long years of patient and persistent pursuit of dialog with the Chinese leader. Even with Xi's mandatory reminder that Japan should "remember history and draw proper conclusions," Abe now knows that China's huge and rapidly expanding market is opening wider to Japanese trade and investments.
Beijing says it is "ready to press the reset button with Tokyo," Abe is expected to come to China this year to celebrate the 40th anniversary of the Sino-Japanese Treaty of Peace and Friendship, and Xi's visit to Japan is planned for next year.
And while the U.S. was announcing that "there will be consequences" to China's military installations on contested islands in the South China Sea, Philippine President Rodrigo Duterte was saying that relations with China will "bloom ... like a big and beautiful flower," while thanking China for helping his "Build, Build, Build" infrastructure program.
Vietnam , another supposed "opponent" to China's expansion, is currently working to "lift the comprehensive strategic cooperative partnership" with Beijing to a new level by aligning its "Two Corridors and One Economic Circle" development program with "Belt and Road" infrastructure projects.
Indonesia , where China remains the largest trade partner, is making similar efforts to upgrade its infrastructure with the help of Chinese investments and financial assistance to build power plants, roads, bridges and high-speed rail lines.
Those are some of the most prominent examples of deeply entrenched and rapidly expanding China ties in East Asia. One could also add to that list Cambodia, Laos, Myanmar and Thailand.
It is easy to understand why all these countries openly, or tacitly, support China in its trade standoff with the U.S. And that sympathy for China will probably keep increasing as the hostile rhetoric and obstacles to trade flows continue to escalate.
But the most regrettable and strident accusations of American "trade protectionism" come from the European Union . For Washington, that was one trade fight too many. A total miscalculation and a masterclass of how one converts an eminently valid and relatively minor trade complaint with friendly allies into a devastating liability.
Investment thoughts America's shockingly huge and systematic trade deficits with China are a political issue of the highest order. Trump should have dealt with that directly with his Chinese counterpart to set the principle, and the schedule, for the rebalancing of bilateral trade accounts.
Instead of that, Trump has allowed the issue to slip into the meanders of interminable nitpicking.
Two things could be done now.
One, an urgent Trump-Xi meeting to get the trade issue back to the level where it belongs. No tweets. Only a respectful, forceful and friendly call for squaring the trade accounts, with the appointment of working parties to implement the agreement within a clearly defined timeframe.
Two, get — as quickly as possible — an example-setting trade accord with the EU. Germany says it is ready and eager to do that to guarantee the stability and predictability of the EU's trade relations with the U.S.
America and the EU need each other to safeguard the system of free and fair international trade they built together. That system is the foundation of free market economies based on democracy, rule of law and respect for human rights. Put briefly, that is the West's world order — Pax Americana — that is now being defended from, what Washington calls, "revisionist powers" espousing very different principles of statecraft, and very different societal forms and values.
Commentary by Michael Ivanovitch, an independent analyst focusing on world economy, geopolitics and investment strategy. He served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York, and taught economics at Columbia Business School. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/06/us-is-defending-wests-world-order-in-trade-fight--commentary.html |
TOKYO, May 11 (Reuters) - The Bank of Japan should not continue its radical stimulus for too long given the strain ultra-low interest rates are inflicting on regional banks, said Seiko Noda, a cabinet minister considered one of the contenders to be the next prime minister.
The BOJ should not persist in achieving its elusive 2 percent inflation target and focus instead on boosting growth and consumption through higher wages, said Noda, who is the internal affairs and communications minister.
“Rather than focusing narrow-mindedly on achieving the price target, wouldn’t it be better to go back to the approach of prioritising economic recovery accompanied by 2 percent inflation?” Noda told Reuters.
“The key to reaching that goal is personal consumption. It takes wage hikes to generate personal consumption,” she said.
Noda is so far the only contender to say publicly she wants to run in a party leadership vote in September, in which Prime Minister Shinzo Abe aims to gain a third three-year term to become Japan’s longest-serving premier.
But Abe’s popularity ratings have skidded in recent months on suspicions of a cover-up linked to cronyism.
After nearly three years of heavy asset purchases failed to drive up inflation to its ambitious 2 percent target, the BOJ revamped its policy framework in 2016 to one better suited to a long-term battle to beat deflation.
It now guides short-term interest rates at minus 0.1 percent and long-term rates around zero percent.
Noda said it was clear the BOJ’s ultra-easy policy was hurting financial institutions’ profits, particularly those in regional areas of Japan.
“We shouldn’t continue with unprecedented monetary easing for too long,” she said.
BOJ Governor Haruhiko Kuroda insists the central bank will maintain its massive stimulus until his price goal is achieved, though critics warn of the diminishing returns and rising costs of prolonged easing such as the hit to bank profits from years of near-zero rates. (Additional reporting by Linda Sieg and Ami Miyazaki; Editing by Kim Coghill)
| ashraq/financial-news-articles | https://www.reuters.com/article/japan-economy-noda-boj/potential-contender-for-next-japan-pm-calls-for-ending-ultra-easy-monetary-policy-idUSL3N1SI3C8 |
May 7, 2018 / 2:46 PM / Updated an hour ago UPDATE 2-County Championship Div2 Standings Reuters Staff 1 Standings of the County Championship Div2 on Monday P W L T Ded RR PTS Warwickshire 3 2 0 1 0 55 Sussex 4 1 0 3 0 51 Kent 3 2 1 0 0 41 Derbyshire 3 1 1 1 0 36 Glamorgan 3 1 1 1 0 33 Middlesex 4 1 2 1 0 33 Gloucestershire 3 1 1 1 0 29 Leicestershire 3 0 1 2 0 27 Durham 3 1 1 1 0 26 Northamptonshire 3 0 2 1 0 10 Note: Ded-Deductions; RR-Net Run Rate | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-england-standings/county-championship-div2-standings-idINMTZXEE57D4ZBJG |
By Aaron Pressman 10:00 AM EDT
Google is losing market share for its Chromecast Internet TV devices, after going more than a year without updating its lineup, while Amazon made big gains and market leader Roku (roku) held steady.
Only 14% of consumers who owned an Internet video streaming device used one from Google in the first quarter, down from 18% a year earlier and 21% two years ago, according to surveys by research firm Parks Associates. At the same time, 28% of consumers used a Fire TV device from Amazon, up from 24% last year and 16% in 2016.
Roku, which went held an initial public offering in February , was steady as the market leader with 37% share, the same as last year and up from 33% two years ago. Apple captured 15% of the market, the same as last year and down from 19% in 2016, Parks said.
Internet streaming has taken off as more consumers drop or cut back on their subscriptions to traditional cable TV. More than 3% of consumers that paid for a traditional cable or satellite TV subscription cut the cord last year , the highest rate on record. Cord cutters rely on Internet streaming devices to access everything from typical Hollywood shows and movies on Netflix (nflx) and Hulu to more niche video content like the horror-focused Shudder and video gamer-oriented Rooster Teeth services.
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Consumers say Roku’s line up, which ranges from its $30 Express box to its $100 4K-capable Ultra, is the easiest to use, Parks research analyst Kristen Hanich says. Apple’s Apple TV boxes, which cost $179 or $199 depending on storage capacity, rate highly for gaming and ease of purchasing content. Amazon’s (amzn) Fire TV platform, available via a $40 USB stick or a more capable $70 plug-in box, are easy to set up and catching up to Apple (aapl) on ease of finding content and ease of purchasing content, “which could account in part for its growing market share,” Hanich said.
Google (googl) is slipping after not updating its Chromecast line up last year. The $69 Chromecast Ultra, introduced in Oct. 2016, is 4K-compatible, in theory, but only a few apps offer 4K content via the device. Google hasn’t introduced any updates or new streaming hardware since.
Of all households with broadband Internet connections, 40% now have an Internet video streaming device, up from 6% in 2010, Parks said. SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/31/internet-video-roku-apple-tv-chromcast/ |
May 16, 2018 / 1:57 PM / Updated 30 minutes ago EU heads discuss bold-or-fold strategy toward Trump tariffs Gabriela Baczynska , Philip Blenkinsop 5 Min Read
SOFIA/BRUSSELS (Reuters) - European leaders sought unity on Wednesday toward threatened U.S. import tariffs on steel and aluminium, balancing the views of those most fearful of a trade war and those determined not to be bullied into concessions.
U.S. President Donald Trump has imposed import duties of 25 percent on steel and 10 percent on aluminium on grounds of national security, but granted EU producers a temporary exemption until June 1 pending the outcome of talks.
French President Emmanuel Macron and other EU leaders, who meet for a summit in Bulgaria from Wednesday, have said the bloc will not negotiate with a gun held to its head. Donald Tusk, who chairs the summits, said on Wednesday EU unity was key.
“Here again, unity is our greatest strength and my objective is simple - we stick to our guns,” Tusk told a news conference. “This means a permanent exemption from U.S. tariffs on aluminium and steel if we are to discuss possible trade liberalisation with the U.S.”
“The EU and U.S. are friends and partners. Therefore U.S. tariffs cannot be justified on the basis of national security. It is absurd to even think that the EU could be a threat to the United States.”
In bitter comments, Tusk said Trump has rid Europe of “all illusions” with the trade dispute and by pulling out of an international nuclear deal with Iran.
“Looking at the latest decisions of President Trump someone could even think: with friends like that who needs enemies. But frankly speaking, Europe should be grateful to President Trump. Because thanks to him we have got rid of all illusions. He has made us realise that if you need a helping hand, you will find one at the end of your arm,” Tusk said.
EU diplomats say the need to find a unified stance goes beyond just tariffs. The United States has withdrawn from the Iran nuclear deal, posing a threat to European companies doing business there, and has blocked appointments to the World Trade Organization, undermining its ability to settle trade disputes.
The debate will continue among trade ministers on May 22 with Germany urging its EU partners to show more flexibility in the run-up to the June 1 deadline. Germany is Europe’s biggest exporter to the United States with more than 1 million jobs at stake.
An EU source said after the dinner the 28 EU leaders agreed that, in exchange for permanent exemptions, they could discuss with Washington deeper LNG cooperation, a WTO reform and better access to each other’s markets for cars and public procurement.
“These talks will be based on the principles of reciprocity and WTO compatibility and with the objective of avoiding a trade war,” the source said.
Another one quipped that the EU wanted to “make trade - not trade wars” with Trump. DON’T CALL IT TTIP
German Economy Minister Peter Altmaier, a former head of Chancellor Angela Merkel’s cabinet, has acknowledged that finding a common stance with France and formulating an offer to the United States were “equally difficult”.
The European Commission, which oversees trade policy for the 28 EU members, has insisted that the EU be granted a permanent exemption without conditions.
It has also said it would respond to tariffs with its own duties on U.S. products, including motor bikes and whisky. It is expected to notify the WTO of its potential plans this week.
The Commission has mooted the idea of negotiating an agreement with the United States to lower import duties, but only once the permanent exemption is granted.
The idea would be to dust off bits of the planned Transatlantic Trade and Investment Partnership (TTIP), on which negotiations were frozen after Trump came into office.
Such an agreement would be far simpler, limited largely to tariff reduction, and would not be known as “TTIP”, a red rag to anti-globalisation protesters.
The EU view is that the first step would be an assessment of what both parties wish to negotiate, and then it would need EU members to approve a mandate. Negotiations proper could be years away.
Altmaier said the Europeans should discuss this regardless of any exemption.
A further issue is that the United States has agreed permanent exemptions with countries such as Brazil and South Korea, but only by imposing import quotas instead of tariffs.
U.S. Commerce Secretary Wilbur Ross, who talked with EU Trade Commissioner Cecilia Malmstrom again on Tuesday, has been on the phone to EU capitals telling them to accept export restraints, according to EU diplomats.
However, trade specialists in Brussels say that quotas on industrial goods are not allowed under WTO rules and that, in any case, the EU demand is that no measures be imposed. President of the European Council Donald Tusk arrives for an informal dinner ahead of a summit with leaders of the six Western Balkans countries in Sofia, Bulgaria, May 16, 2018. REUTERS/Stoyan Nenov/Pool Additional reporting by Maytaal Angel in London, Writing by Philip Blenkinsop, Editing by Hugh Lawson and Lisa Shumaker | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-trade-eu/eu-heads-discuss-bold-or-fold-strategy-towards-trump-tariffs-idUKKCN1IH1VE |
By Jonathan Vanian May 3, 2018
Twitter warned its users on Thursday to change their passwords after it discovered that it had mistakenly stored them internally prior to fortifying them through a security technique, leaving the passwords vulnerable to hackers.
Parag Agrawal, Twitter’s chief technology officer, wrote in a blog post that users should also consider changing their passwords on other services if the passwords they used there were the same as on Twitter. The company also disclosed the password flaw in a regulatory filing on Thursday, indicating that the bug was serious enough to warrant more formal disclosure than a corporate blog post. Twitter has about 336 million users, according to its latest letter to shareholders.
Twitter (twtr) CEO Jack Dorsey followed Agrawal’s post by tweeting that company has “no indication of breach or misuse.” He added that the company warned users because “it’s important for us to be open about this internal defect.”
The software bug said to be responsible for the problem appears to be related to how the company secures user passwords through a security technique called hashing, Agrawal explained. Through the hashing technique, Twitter converts passwords into random assortments of numbers so that when users log in, Twitter can validate passwords without actually having to read them.
Because of the software bug, however, user passwords were written into an unspecified “internal log” before they could be converted into a series of numbers. As a result, user passwords were left vulnerable, although Twitter said no one appears to have improperly accessed the log. We recently discovered a bug where account passwords were being written to an internal log before completing a masking/hashing process. We’ve fixed, see no indication of breach or misuse, and believe it’s important for us to be open about this internal defect. https://t.co/BJezo7Gk00
— jack (@jack) May 3, 2018
Agrawal said that Twitter discovered the error without the help of outside security researchers, removed the passwords from the internal log, and is “implementing plans” to prevent future errors.
It’s unclear when Twitter found out about the problem or how long the passwords were left unsecured. Fortune contacted Twitter for more details and will update this story if it responds.
Ironically, Twitter’s password mishap was announced on the corporate holiday known as World Password Day, created by Intel security researchers and celebrated on the first Thursday in May as a way to promote good password and cyber security hygiene .
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Agrawal initially said via a Tweet that the company “didn’t have to” share the information to the public, but chose to because “it’s the right thing to do.” However, he then backtracked on his statement and said that he “felt strongly that we should.”“My mistake,” Agrawal added.
Dorsey then commended him for “admitting our mistakes quickly, learning, and moving on.” Openly admitting our mistakes quickly, learning, and moving on. I love my teammates. https://t.co/pn9sgUf1Op | ashraq/financial-news-articles | http://fortune.com/2018/05/03/twitter-password-software-bug/ |
May 16, 2018 / 10:05 AM / Updated 5 hours ago Meghan Markle's father overshadows wedding to Prince Harry Alex Fraser , Michael Holden 6 Min Read
WINDSOR, England (Reuters) - Meghan Markle’s father overshadowed his daughter’s wedding to Prince Harry by sowing confusion about whether he would walk her down the aisle or snub the British royal family by pulling out of the intricately planned celebration at the last minute.
As royal fans convened on the genteel English town of Windsor where Harry is due to wed the American actress on Saturday, the role of her father, Thomas Markle, was still unclear after he issued a flurry of statements to an American news website.
On Monday he was reported by the Los Angeles-based celebrity website TMZ.com to be unable to attend due to a heart attack and embarrassment over whether he had staged pictures with a paparazzi photographer. But the same website said on Tuesday he had changed his mind and would go to be part of history.
TMZ later quoted him as saying the trip was off due to his need for immediate heart surgery.
Markle, who lives in Mexico, had been due to walk his daughter down the aisle on Saturday at St George’s Chapel in Windsor Castle in front of 600 guests including all the senior British royals and a smattering of celebrities.
Britain’s Sun newspaper, the country’s best selling, had to scramble to update its front page to reflect what it called the “Royal Sensation” of Thomas Markle’s absence under the headline: “I’ve got heart op today”. It offered four pages of analysis. HEARTBREAKING
“It must be heartbreaking for them, because her father can’t come because he is in poor health,” said 46-year-old Maria Scott who had traveled from Newcastle to camp out in Windsor to get a glimpse of the couple on Saturday.
“It must be really upsetting but I’m sure her mum will do a fine job,” Scott told Reuters.
Harry, grandson of Queen Elizabeth and sixth-in-line to the throne, and Markle, a star in U.S. TV drama “Suits”, will tie the knot at Windsor Castle, home to the British royal family for nearly 1,000 years.
On Windsor’s streets, hundreds of tourists and journalists mingled with dedicated royals fans - some draped with UK flags and holding photographs of Harry and Markle - while armed police patrolled.
Some fans are sleeping out on the street until the wedding, seeking to secure the best positions to see the couple.
“I want them to come through those gates. I want them to look at me, wave and smile,” Donna Werner, who flew 3,000 miles from New Fairfield, Connecticut, to be in Windsor told Reuters. [nL5N1SN52H]
“That will make it all worthwhile. It really will,” said Werner, 66, camped outside the Castle, dressed head to toe in a mix of British and U.S. flag-themed attire, including a shirt that read “Prince Harry, I’m still available. Last chance!” A Union Flag decorated with images of Prince Harry and Meghan Markle hangs from a building outside Windsor Castle ahead of their wedding, in Windsor, Britain May 16, 2018. REUTERS/Marko Djurica
Windsor, which is dominated by the royal castle, was decorated with swathes of red, white and blue “Union Jack” flags. Stalls sold Harry and Meghan scarves for 15 pounds ($20) and commemorative caps for 10 pounds.
More than 100,000 people are expected to descend on the town on Saturday. They will have to clear airport-style security before being allowed near the main venue, said Superintendent Jim Weems, the police’s tactical commander for the day.
Britain is on its second-highest threat level of severe, meaning an attack by militants is considered highly likely. Last year 36 people died in four attacks. Despite the tight security, Weems said there was no particular threat against the wedding.
“There’s no intelligence to support that this event is going to be particularly targeted,” he told Reuters. GLOBAL SUPERSTARS
Harry, 33, a former army officer and one-time royal wild child, met his bride-to-be on a blind date in July 2016 after being set up through a mutual friend.
Beyond the pomp of a royal wedding which enthrals millions, the union marries the Hollywood glamour of Markle with one of the royal family’s most popular members.
As a divorcee, with a white father and an African-American mother, Markle’s background has provided a source of huge interest and comment, not all positive.
Details about the wedding have been closely controlled by Kensington Palace but reports of Thomas Markle’s intentions have thrown their intricate plans into flux. Kensington Palace declined to comment on Wednesday.
The bride-to-be’s parents are divorced and while Harry has been pictured with her mother Doria Ragland, 61, there had been speculation about the relationship with Thomas Markle, a former lighting director for TV soaps and sitcoms.
Thousands of journalists are descending on Windsor, and Thomas Markle told TMZ earlier this week that the media attention had taken its toll.
He said he had been offered up to $100,000 for interviews and been ambushed by paparazzi whose snaps had shown him buying beer and looking disheveled. Slideshow (3 Images)
TMZ said he had agreed to the staged pictures, which showed him looking at images of the couple on a computer and being sized up for a suit, because he hoped they would improve his image.
In response to the initial reports on Monday, Kensington Palace said it was “a deeply personal moment for Ms Markle”, asking for respect and understanding for her father. Writing by Guy Faulconbridge; Editing by Matthew Mpoke Bigg | ashraq/financial-news-articles | https://www.reuters.com/article/us-britain-royals-wedding/meghan-markles-father-overshadows-wedding-to-prince-harry-idUSKCN1IH14Z |
May 11, 2018 / 6:40 AM / Updated 10 hours ago AstraZeneca's drug Fasenra flops in COPD trial Reuters Staff 1 Min Read
LONDON (Reuters) - AstraZeneca’s said its first respiratory biologic medicine Fasenra failed to meet its target in a clinical trial treating patients with moderate to very severe chronic obstructive pulmonary disease (COPD). FILE PHOTO: A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014. REUTERS/Phil Noble
The drug is currently approved as an add-on treatment for severe eosinophilic asthma in the United States, the European Union, Japan and several other countries.
The British company said Fasenra did not cause a statistically-significant reduction of exacerbations in patients with COPD in the final-stage trial, named Galathea.
A separate study, named Terranova, is ongoing, and AstraZeneca said it would fully evaluate both trials to determine the next steps for Fasenra in COPD. Reporting by Paul Sandle, editing by James Davey | ashraq/financial-news-articles | https://www.reuters.com/article/us-astrazeneca-fasenra/astrazenecas-drug-fasenra-flops-in-copd-trial-idUSKBN1IC0IZ |
HOUSTON and LONDON, May 22, 2018 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced that it has received unconditional clearance from the Chinese State Administration of Market Regulation ("SAMR") for its pending acquisition of A. Schulman, Inc. (NASDAQ: SHLM).
SAMR's clearance for the transaction satisfies one of the conditions for the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval by A. Schulman shareholders and the receipt of other required regulatory clearances and approvals.
As previously announced on February 15, 2018, LyondellBasell and A. Schulman, a leading global supplier of high-performance plastic compounds, composites and powders, entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. The acquisition builds upon LyondellBasell's existing platform to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.
The pending acquisition has already been cleared by antitrust regulators in the United States, Brazil, Serbia and Turkey. The transaction is expected to close in the second half of 2018.
More information on the transaction can be found at www.LyondellBasell.com/AdvancedPolymerSolutions .
About LyondellBasell
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,400 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies. In 2018, LyondellBasell was named to Fortune magazine's list of the "World's Most Admired Companies." More information about LyondellBasell can be found at www.LyondellBasell.com .
Cautionary Note Regarding Forward-looking Statements
This communication includes forward-looking statements relating to the proposed merger between LyondellBasell and A. Schulman, Inc. ("Schulman"), including statements as to the expected timing, completion and effects of the proposed merger. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the merger, including future financial and operating results, the combined company's plans, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of LyondellBasell and Schulman and are subject to significant risks and uncertainties outside of our control. Actual results could differ materially based on factors including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the risk that Schulman shareholders may not adopt the merger agreement, the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated, failure to realize the benefits expected from the proposed merger and the effect of the announcement of the proposed merger on the ability of LyondellBasell and Schulman to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally. Discussions of additional risks and uncertainties are contained in LyondellBasell's and Schulman's filings with the Securities and Exchange Commission. Neither LyondellBasell nor Schulman is under any obligation, and each expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this communication are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect of the proposed merger between LYB and Schulman. In connection with the proposed transaction, Schulman plans to file a proxy statement with the Securities and Exchange Commission ("SEC"). SHAREHOLDERS OF SCHULMAN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT SCHULMAN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE TRANSACTION. Shareholders and investors will be able to obtain free copies of the proxy statement and other relevant materials (when they become available) and other documents filed by Schulman at the SEC's web site at www.sec.gov . Copies of the proxy statement (when they become available) and the filings that will be incorporated by reference therein may also be obtained, without charge, from Schulman's website, aschulman.com , under the heading "Investors" or by contacting Schulman's Investor Relations at 330-668-7346 or [email protected] .
Participants in the Solicitation
LYB, Schulman, their directors, executive officers and certain employees may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding LYB's directors and executive officers is available in its proxy statement filed with the SEC on April 11, 2018. Information regarding Schulman's directors and executive officers is available in its proxy statement filed with the SEC on October 27, 2017. Other information regarding persons who may be deemed participants in the proxy solicitation, including their respective interests by security holdings or otherwise, is set forth in the definitive proxy statement that Schulman has filed with the SEC in connection with the special meeting of stockholders to be held on June 14, 2018. These documents can be obtained free of charge from the sources indicated above.
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SOURCE LyondellBasell | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/pr-newswire-lyondellbasell-receives-chinese-antitrust-clearance-for-acquisition-of-a-schulman.html |
Washington right-hander Jeremy Hellickson took a perfect game into the seventh inning Tuesday night and doubled home a run as the visiting Nationals defeated the San Diego Padres 4-0 at Petco Park.
Hellickson (1-0), Ryan Madson, Brandon Kintzler and Wander Suero combined on a three-hit shutout of the Padres, who were no-hit last Friday night by four Los Angeles Dodgers pitchers in Monterrey, Mexico. Tuesday marked the fifth time this season that the Padres were shut out.
San Diego leadoff hitter Travis Jankowski opened the seventh by grounding a single to center past Washington second baseman Howie Kendrick for the hosts’ first hit and baserunner. After Hellickson retired the next two hitters, Franchy Cordero singled to left, ending Hellickson’s game. Madson retired Jose Pirela on a grounder to short to end the inning.
The two hits came after Hellickson doubled home Pedro Severino in the top of the seventh, increasing the lead to 3-0.
Hellickson, 31, was making his fifth start of the season. Tuesday marked the first time he went farther than 5 2/3 innings. He wound up allowing no runs on two hits and no walks with eight strikeouts over 6 2/3 innings and 91 pitches.
Hellickson and Padres starter Clayton Richard battled through four scoreless innings before the Nationals scored twice on three consecutive hits to open the fifth.
Kendrick opened the inning with a single, and he scored on Matt Adams’ double. Adams scored on Severino’s single.
Severino doubled with two outs in the seventh and scored on Hellickson’s first hit of the season — a double inside the third base bag.
Richard (1-5) went deeper into the game than Hellickson, allowing three runs on seven hits and no walks with eight strikeouts over eight innings.
The Nationals scored a final run in the ninth on pinch hitter Andrew Stevenson’s bases-loaded sacrifice fly off Adam Cimber.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/baseball-mlb-sd-was-recap/hellickson-nationals-blank-padres-idUSMTZEE59G2RGNU |
May 19, 2018 / 9:47 PM / Updated 29 minutes ago Messi to get a rest in Barca's final La Liga game Richard Martin 2 Min Read
BARCELONA (Reuters) - Barcelona coach Ernesto Valverde plans to leave Lionel Messi out of the starting line-up for the La Liga champions’ last game of the season against Real Sociedad as the Argentine needs rest after another punishing campaign. Soccer Football - La Liga Santander - FC Barcelona v Real Madrid - Camp Nou, Barcelona, Spain - May 6, 2018 Barcelona's Lionel Messi reacts REUTERS/Albert Gea
The five-times world player of the year was included in the squad for the game at the Nou Camp, which is Barca captain Andres Iniesta’s final match for the club after 16 years at the heart of the team’s midfield.
Messi was left out of the squad for last week’s game at Levante, where Barca lost 5-4 to taste defeat for the first time after 37 league matches this season, although he played as a substitute in the friendly against Mamelodi Sundowns in South Africa on Wednesday.
“He has played a lot of minutes and picked up the odd injury and played games while being injured,” Valverde told a news conference on Saturday.
“In the final stretch of the season we feel it’s the right time to rest him. The other day he played 15 minutes in South Africa for contractual reasons but tomorrow the plan is for him to rest.”
Messi has played 53 games for the Catalans this season in all competitions, topping the league’s scoring charts with 34 goals, and he will lead Argentina’s challenge at next month’s World Cup. Reporting by Richard Martin, editing by Ed Osmond | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-spain-fcb-messi/messi-to-get-a-rest-in-barcas-final-la-liga-game-idUKKCN1IK0UQ |
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors (“Board”) of Cadus Corporation (“Cadus” or the “Company”) (OTC QB: KDUS ) related to the Company’s entry into an agreement to be acquired by Starfire Holding Corporation (“Starfire”) in a transaction announced on January 22, 2018 (the “Proposed Transaction”).
On January 20, 2018, the Board caused Cadus to enter into an agreement and plan of merger (the “Merger Agreement”) with Starfire. Pursuant to the terms of the Merger Agreement, shareholders of Cadus will receive $1.61 in cash for each share of Cadus common stock.
On May 15, 2018, Cadus filed a definite proxy statement (“Proxy Statement”) with the United States Commission (“SEC”) in connection with the Proposed Transaction, which recommends that Cadus’s shareholders vote in favor of the Proposed Transaction. Rigrodsky & Long, P.A. is investigating possible violations of law related to the Proxy Statement, including whether the Proxy Statement omits material information with respect to the Proposed Transaction.
If you own common shares of Cadus and purchased any shares before January 20, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail at [email protected] .
Rigrodsky & Long, P.A. , with offices in Wilmington, Delaware, Garden City, New York, and San Francisco, California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions .
Attorney advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180521006081/en/
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
888-969-4242
302-295-5310
Fax: 302-654-7530
[email protected]
http://www.rigrodskylong.com
Source: Rigrodsky & Long, P.A. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/21/business-wire-shareholder-alert-rigrodsky-long-p-a-announces-investigation-of-cadus-corporation.html |
The official death count from Hurricane Maria is 64. The real number could exceed more than 4,600, mostly due to delayed or interrupted medical care, according to a new study.
Media reports have suggested the official count is far lower than what has actually occurred in the wake of the powerful storm that struck Puerto Rico in September. The storm left many stranded without electricity and unable to access health care.
A group of independent researchers from the Harvard T.H. Chan School of Public Health and other institutions surveyed more than 3,000 households in Puerto Rico in an attempt to overcome challenges of relying on death certificates to measure the total.
Of the households they visited, 38 people died between Sept. 20, when Hurricane Maria struck, and the end of the year, according to the study, published Tuesday in the New England Journal of Medicine . Of these deaths, one-third were attributed to delayed or interrupted health care.
The researchers used these measures to calculate the mortality rate and apply it to the larger population to reach their estimate. While their estimate is substantially higher than the official tally, researchers said it's still likely to be conservative.
When adjusting for survivor bias and household-size distributions, the estimate increases to more than 5,000, they said.
The findings are likely to ramp up criticism of preparations and responses to natural disasters. Researchers said health-care disruption is now a growing contributor to both morbidity and mortality during these events.
About 14 percent of households surveyed said they weren't able to access medications, while nearly 10 percent said they needed respiratory equipment that required electricity. Other problems included closed medical facilities and absent doctors.
Meanwhile, the official death count could change. Facing pressure, Puerto Rico Governor Ricardo Rossello ordered a review in December. President Donald Trump has said the total shows the federal government responded well to the storm compared to a "real catastrophe like (Hurricane) Katrina."
Carlos Mercader, executive director of the Puerto Rico Federal Affairs Administration, said in a statement the government of Puerto Rico welcomes the new Harvard-led survey and looks forward to analyzing it.
"As the world knows, the magnitude of this tragic disaster caused by Hurricane Maria resulted in many fatalities," Mercader said. "We have always expected the number to be higher than what was previously reported." | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/29/hurricane-marias-death-toll-could-exceed-4600-study-estimates.html |
May 7 (Reuters) - E-MUZYKA SA:
* APPOINTS ADRIAN CIEPICHAL AS NEW CEO AS OF MAY 8 Source text for Eikon: (Gdynia Newsroom)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-e-muzyka-appoints-adrian-ciepichal/brief-e-muzyka-appoints-adrian-ciepichal-as-new-ceo-idUSFWN1SE0R3 |
SAN FRANCISCO--(BUSINESS WIRE)-- Twilio (NYSE: TWLO) (“Twilio”), the leading cloud communications platform, today announced its intention to offer, subject to market conditions and other factors, $435 million aggregate principal amount of Convertible Senior Notes due 2023 (the “Notes”) in a private offering (the “Offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Twilio also expects to grant the initial purchasers of the Notes a 13-day option to purchase up to an additional $65 million aggregate principal amount of the Notes.
The Notes will be senior, unsecured obligations of Twilio, and interest will be payable semi-annually in arrears. The Notes will be convertible into cash, shares of Twilio’s Class A common stock or a combination thereof, at Twilio’s election. The interest rate, initial conversion rate and other terms of the Notes are to be determined upon pricing of the Offering.
In connection with the pricing of the Notes, Twilio expects to enter into capped call transactions with certain of the initial purchasers of the Offering and/or their respective affiliates and/or other financial institutions (the “Option Counterparties”). The capped call transactions are expected generally to reduce or offset the potential dilution to Twilio’s Class A common stock upon any conversion of Notes and/or to offset any cash payments Twilio is required to make in excess of the principal amount of the converted notes, as the case may be, with such reduction and/or offset subject to a cap. If the initial purchasers of the Offering exercise their option to purchase additional Notes, Twilio expects to enter into additional capped call transactions with the Option Counterparties.
Twilio expects that, in connection with establishing their initial hedges of the capped call transactions, the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to Twilio’s Class A common stock and/or purchase shares of Twilio’s Class A 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 the Class A common stock or the Notes at that time. In addition, Twilio expects that the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the Class A common stock and/or by purchasing or selling shares of Twilio’s Class A common stock or other securities of Twilio in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during any observation period related to a conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the Notes, which could affect the ability of holders of Notes to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, it could affect the number of shares of Class A common stock and value of the consideration that holders of Notes will receive upon conversion of the Notes.
The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the Notes and the shares of Twilio’s Class A common stock potentially issuable upon conversion of the Notes, if any, have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, the Notes and such shares, if any, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the Notes (or any shares of Twilio’s Class A common stock issuable upon conversion of the Notes) in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
About Twilio
More than 2 million developers around the world have used Twilio to unlock the magic of communications to improve any human experience. Twilio has democratized communications channels like voice, text, chat, and video by virtualizing the world’s telecommunications infrastructure through APIs that are simple enough for any developer to use, yet robust enough to power the world’s most demanding applications. By making communications a part of every software developer's toolkit, Twilio is enabling innovators across every industry — from emerging leaders to the world’s largest organizations — to reinvent how companies engage with their customers.
Forward-Looking Statements
This press release contains forward-looking statements, including, among other things, about whether Twilio will be able to consummate the Offering, the terms of the Offering and the capped call transactions, expectations regarding actions of the Option Counterparties and their respective affiliates and the satisfaction of customary closing conditions with respect to the Offering. The words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectations or intent are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.
The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially, including (i) changes as a result of market conditions or for other reasons, (ii) the risk that the Offering will not be consummated, (iii) the risk that the capped call transactions will not become effective and (iv) the impact of general economic, industry or political conditions in the United States or internationally.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Twilio’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Twilio makes with the Securities and Exchange Commission from time to time.
Source: Twilio Inc.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180514005531/en/
Twilio Inc.
Investor Contact:
Greg Kleiner
[email protected]
Source: Twilio Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/14/business-wire-twilio-inc-announces-proposed-private-offering-of-435-million-of-convertible-senior-notes.html |
NEW YORK, May 23, 2018 /PRNewswire/ -- DHI Group, Inc. (NYSE: DHX) ("DHI" or the "Company"), a leading online career resource and talent acquisition platform for technology professionals and other select professional communities, today announced that it has sold its hospitality business, Hcareers, to Virgil Holdings, Inc. for approximately $16.5 million in cash. The transaction closed on May 23, 2018 and DHI will use the proceeds in accordance with its stated capital allocation strategy, including the reduction of the balance on its revolving credit facility, support of strategic initiatives and potential return of capital to shareholders.
DHI previously announced its intention to divest four of its non-tech businesses in May 2017 as part of a strategy to focus on tech and helping technology professionals manage their careers. Consistent with its strategy, this sale substantially completes the divestiture process for its non-tech businesses.
"Virgil Holdings, Inc. is a great new home for Hcareers, which will no doubt benefit from being part of a company closely aligned with the hospitality industry that is transforming how candidates and employers come together," said Art Zeile, President and CEO of DHI Group, Inc. "We are pleased with the outcome of this transaction, as it helps us concentrate on our core strategy of bringing relevant career opportunities to tech professionals and qualified technology talent to employers."
Funding was led by Genesis Park, a Houston-based private equity firm.
AGC Partners served as the exclusive financial advisor for the transaction.
Investor & Media Contact
Rachel Ceccarelli
Director, Corporate Communications
DHI Group, Inc.
212-448-8288
[email protected]
About DHI Group, Inc.
DHI Group, Inc. (NYSE: DHX) is a leading provider of data, insights and employment connections through our specialized services for technology professionals and other select online communities. Our mission is to empower tech professionals and organizations to compete and win through expert insights and relevant employment connections. Employers and recruiters use our websites and services to source, hire and connect with the most qualified and highly-skilled tech professionals, while professionals use our websites and services to find ideal employment opportunities, relevant job advice and tailored career-related data. For over 25 years, we have built our Company on providing employers and professionals with career connections, news, tools and information. Today, we serve multiple markets located throughout North America, Europe, the Middle East and the Asia Pacific region. Find out more at http://www.dhigroupinc.com/home-page/default.aspx .
About Virgil Holdings Inc.
Virgil Holdings Inc. owns and operates Virgil Careers, a career navigation and recruiting platform that utilizes proprietary machine learning algorithms and micro-assessments to match job seekers to the perfect career path, employment opportunity and developmental resources. Virgil automatically generates a competency-based profile that enables corporate recruiters to quickly identify and contact the right candidates for their open roles. Through a SaaS model, Virgil serves a diverse customer base including individual job seekers, corporate recruiters, job boards, higher education, trade associations, workforce agencies and nonprofits. For more information, visit www.virgilcareers.com .
Forward-Looking Statements
This press release and oral statements made from time to time by our representatives contain forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include, without limitation, information concerning our possible or assumed future results of operations. These statements often include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to, our ability to execute our tech-focused strategy, the review of potential dispositions of certain of our businesses and the terms and timing of any such transactions, competition from existing and future competitors in the highly competitive market in which we operate, failure to adapt our business model to keep pace with rapid changes in the recruiting and career services business, failure to maintain and develop our reputation and brand recognition, failure to increase or maintain the number of customers who purchase recruitment packages, cyclicality or downturns in the economy or industries we serve, the uncertainty surrounding the United Kingdom's future departure from the European Union, including uncertainty in respect of the regulation of data protection and data privacy, failure to attract qualified professionals to our websites or grow the number of qualified professionals who use our websites, failure to successfully identify or integrate acquisitions, U.S. and foreign government regulation of the Internet and taxation, our ability to borrow funds under our revolving credit facility or refinance our indebtedness and restrictions on our current and future operations under such indebtedness. These factors and others are discussed in more detail in the Company's filings with the Securities and Exchange Commission, all of which are available on the Investors page of our website at www.dhigroupinc.com , including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, under the headings "Risk Factors," "Forward-Looking Statements" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." You should keep in mind that any forward-looking statement made by the Company or its representatives herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect us. We have no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
View original content: http://www.prnewswire.com/news-releases/dhi-group-inc-announces-the-sale-of-hcareers-300653205.html
SOURCE DHI Group, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/23/pr-newswire-dhi-group-inc-announces-the-sale-of-hcareers.html |
PLANO, Texas, May 10, 2018 /PRNewswire/ -- BG Staffing, Inc. (NYSE American: BGSF) , a rapidly growing national provider of professional temporary staffing services, today announced that its Board of Directors has declared a cash dividend of $0.30 per share of common stock.
The dividend is payable on May 29, 2018 to all shareholders of record as of the close of business on May 21, 2018.
This is the 14 th consecutive dividend BG Staffing has paid to holders of common stock. Based on yesterday's closing price of the Company's common stock, the annualized yield is approximately 5.4%.
About BG Staffing, Inc.
Headquartered in Plano, Texas, BG Staffing provides staffing services to a variety of industries through its various divisions. BG Staffing is primarily a professional temporary staffing platform that has integrated several regional and national brands achieving scalable growth. The Company was ranked as the 60 th largest U.S. staffing company in 2017 and was named the 71 st fastest growing staffing company in the country in 2016 by Staffing Industry Analysts. The Company's disciplined acquisition philosophy, which builds value through both financial growth and the retention of unique and dedicated talent within BG Staffing's portfolio of companies, has resulted in a seasoned management team with strong tenure and the ability to offer exceptional service to candidates and customers while building value for investors. For more information on the Company and its services, please visit its website at www.bgstaffing.com .
Forward-Looking Statements
The forward-looking statements in this press release are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in Item 1A of the Company's Annual Report on Form 10-K and in the Company's other filings and reports with Commission. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words "believes," "plans," "expects," "will," "intends," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
CONTACT:
Terri MacInnis, VP of Investor Relations
Bibicoff + MacInnis, Inc.
818.379.8500 [email protected]
View original content with multimedia: http://www.prnewswire.com/news-releases/bg-staffing-inc-declares-0-30-per-share-cash-dividend-300646655.html
SOURCE BG Staffing, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/pr-newswire-bg-staffing-inc-declares-0-point-30-per-share-cash-dividend.html |
BEIJING (Reuters) - China will sign a bilateral currency swap agreement with Japan, the Chinese government said on Tuesday, citing an article written by Premier Li Keqiang that was published by Japan’s Asahi newspaper.
FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo China will also grant a quota of Renminbi Qualified Foreign Institutional Investors (RQFII) to Japanese investors, Li said in the article.
The Chinese government published a translation into Chinese of the premier’s article.
Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-japan-currency/china-will-sign-a-currency-swap-agreement-with-japan-chinese-government-idUSKBN1I90DO |
Dow Jones, a News Corp company News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Dow Jones | ashraq/financial-news-articles | http://jp.wsj.com/articles/SB11938464503990234149304584233082758828304 |
BILLINGS, Mont. (AP) — The Latest on a legal challenge to the Trump administration's reversal of a proposal to make mining companies prove they can pay for future pollution cleanups (all times local):
11:45 a.m.
The mining industry says it will intervene on behalf of the Trump administration in a lawsuit that seeks to revive an Obama-era rule requiring companies to prove they can clean up their pollution.
National Mining Association Vice President Ashley Burke says the proposed rule would have placed an unnecessary financial burden on companies.
Burke says modern mining practices and regulations already in place sufficiently address pollution from extracting "hardrock" minerals such as copper and gold.
The Sierra Club and other groups on Wednesday asked a federal court to review last year's decision by Environmental Protection Agency Administrator Scott Pruitt to drop the Obama administration proposal.
The rule was intended to stop companies from abandoning mine sites without cleaning up their pollution, a longstanding problem in the industry.
9 a.m.
Environmental groups are challenging the Trump administration's rejection of an Obama-era rule that would have required mining companies to prove they have enough money to clean up pollution.
The Idaho Conservation League, Earthworks and other groups on Wednesday asked the U.S. Court of Appeals in Washington, D.C., to review last year's move to drop the rule.
Earthjustice Attorney Amanda Goodin says the U.S. Environmental Protection Agency action leaves taxpayers responsible for pollution that fouls waterways and endangers public health.
Mining industry representatives pushed hard to kill the rule.
EPA Administrator Scott Pruitt agreed with their argument that modern mining poses less risk for pollution despite a legacy of taxpayer-funded mine cleanups.
Under former President Barack Obama, the agency determined the opposite — that mining pollution remains an ongoing concern. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/16/the-associated-press-the-latest-mining-industry-backs-trump-over-pollution-rule.html |
Phoenix, AZ, InnSuites Hospitality Trust (NYSE AMERICAN: IHT) InnSuites Hospitality Trust (“IHT”) reported Consolidated Net Income of $6,808,000 for the fiscal year ended January 31, 2018 (“FY 2018”) compared to Consolidated Net Loss of $2,627,000 for the fiscal year ended January 31, 2017 (“FY 2017”), an improvement of $9,435,000. FY 2018 Consolidated Net Income and FY 2017 Consolidated Net Loss included non-cash depreciation and amortization of $2,224,000 and $1,463,000, respectively. FY 2018 Consolidated Net Income before non-cash depreciation and amortization was $9,032,000. FY 2017 Consolidated Net Revenues jumped $1,571,000 as FY 2018 Revenues were $10,768,000 compared with FY 2017 Revenues of $9,197,000. FY 2018 Net Income Per Share was $0.71 as compared to FY 2017 Net Loss Per Share of ($0.27) for an increase of $0.98 per Share.
FY 2018 strong financial results resulted our continued strategy to sell hotel assets at top market prices. Our Ontario, California hotel sold in June 2017 for $17.5 million which assisted in our strong financial results. We continue to invest strongly in our technology division as we anticipate continued strong revenue growth.
For more information, visit www.ibchotels.com and www.ibcmembers.com
With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties such as local, national or international economic and business conditions, including, without limitation, conditions that may, or may continue to, affect public securities markets generally, the hospitality industry or the markets in which we operate or will operate; fluctuations in hotel occupancy rates; changes in room rental rates that may be charged by InnSuites Hotels in response to market rental rate changes or otherwise; seasonality of our business; our ability to sell any of our Hotels at market value, listed sale price or at all; interest rate fluctuations; changes in, or reinterpretations of governmental regulations; competition; availability of credit or other financing; our ability to meet, refinance or extend present and future debt service obligations; insufficient resources to pursue our current strategy; concentration of our investments in the InnSuites Hotels® brand; loss of membership contracts; the financial condition of franchises, brand membership companies and travel related companies; our ability to develop and maintain positive relations with “Best Western Plus” or “Best Western” and potential future franchises or brands; our ability to carry out our strategy, including our strategy regarding IBC Hotels; the Trust’s ability to remain listed on the NYSE MKT; effectiveness of the Trust’s software program; the need to periodically repair and renovate our Hotels at a cost at or in excess of our standard 4% reserve; our ability to cost effectively integrate any acquisitions with the Trust in a timely manner; increases in the cost of labor, energy, healthcare, insurance and other operating expenses as a result of changed or increased regulation or otherwise; terrorist attacks or other acts of war; outbreaks of communicable diseases attributed to our hotels or impacting the hotel industry in general; natural disasters, including adverse climate changes in the areas where we have or serve hotels; airline strikes; transportation and fuel price increases; adequacy of insurance coverage; data breaches or cybersecurity attacks; and other factors. Such uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.
For more information visit www.innsuitestrust.com or www.sec.gov .
FOR FURTHER INFORMATION: Marc Berg, Executive Vice President 602-944-1500 email: [email protected]
Source:InnSuites Hospitality Trust | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/globe-newswire-innsuites-hospitality-trust-iht-reports-strong-net-income-and-revenues.html |
May 9 (Reuters) - PDL Community Bancorp:
* Q1 EARNINGS PER SHARE $0.05 * NET INTEREST INCOME WAS $8.7 MILLION FOR QUARTER ENDED MARCH 31, 2018, UP 19.2% Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-pdl-community-bancorp-reports-q1-e/brief-pdl-community-bancorp-reports-q1-earnings-per-share-0-05-idUSASC0A12R |
‘This has been going on too long in our country,’ said President Trump, speaking from the White House, following a deadly school shooting in Santa Fe, Texas. Photo: Getty. | ashraq/financial-news-articles | http://live.wsj.com/video/president-trump-comments-on-horrific-attack-in-santa-fe-texas/3A331C78-8552-4253-A92C-2D6BE254DB26.html |
President Trump tweeted “big news coming soon for our great American Autoworkers” ahead of his Administration’s announcement last week that it will seek new tariffs on imported autos and auto parts. If he had more Twitter characters, perhaps Mr. Trump would have added, “Tough luck for the rest of you.”
Just kidding, but that would have been accurate. Mr. Trump is boasting of potential gains for one narrow constituency from his latest protectionist threat. But he’s ignoring the forgotten Americans who will lose their jobs... | ashraq/financial-news-articles | https://www.wsj.com/articles/auto-tariffs-mean-lost-jobs-1527720218 |
May 2 - Australian shares are expected to open higher on Wednesday, taking cues from Wall Street after comments from a Trump administration official on trade with China sparked optimism. U.S. stocks bounced back from early losses after U.S. Trade Representative Robert Lighthizer said he did not desire to change China's economic system but wanted to limit the damage it causes to the U.S. and encourage more foreign competition. The share price index futures rose 7 points to 6000, a 15.2 point discount to the underlying S&P/ASX 200 index close. The benchmark added 0.5 percent on Tuesday. New Zealand's benchmark S&P/NZX 50 index rose 5.81 points to 8,441.78 during early trade. (Reporting by Syed Saif Hussain Naqvi in Bengaluru)
| ashraq/financial-news-articles | https://www.reuters.com/article/australia-stocks-morning/australia-shares-to-open-higher-nz-up-idUSL3N1S84HT |
May 11, 2018 / 6:31 PM / Updated an hour ago Trump blasts drugmakers, payers for high U.S. drug prices Reuters Staff 1 Min Read
WASHINGTON, May 11 (Reuters) - U.S. President Donald Trump on Friday blasted drugmakers, health insurers and pharmacy benefits managers for making prescription drugs unaffordable for Americans, saying his government would take steps to increase competition and bring down prices.
Trump said his administration would eliminate the “middlemen” in the drug industry who became “very very rich”, and said the pharmaceutical lobby is making an “absolute fortune” at the expense of American taxpayers.
“This is a total ripoff and we are ending it,” Trump said in a speech delivered as his health deputies released a series of proposals to address high drug costs. (Reporting by Yasmeen Abutaleb; editing by Bill Berkrot) | ashraq/financial-news-articles | https://www.reuters.com/article/usa-trump-drugpricing/trump-blasts-drugmakers-payers-for-high-u-s-drug-prices-idUSL1N1SI1FK |
May 22 (Reuters) - Eli Lilly and Co:
* LILLY’S TALTZ (IXEKIZUMAB) RECEIVES THE FIRST U.S. FDA APPROVAL FOR LABEL UPDATE TO INCLUDE DATA FOR PSORIASIS INVOLVING THE GENITAL AREA
* LABEL UPDATE IS EFFECTIVE IMMEDIATELY IN UNITED STATES Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-lillys-taltz-receives-us-fda-appro/brief-lillys-taltz-receives-u-s-fda-approval-for-label-update-to-include-data-for-psoriasis-involving-the-genital-area-idUSASC0A37S |
May 15 (Reuters) - Biohaven Pharmaceutical Holding Company Ltd:
* BIOHAVEN PHARMACEUTICAL HOLDING COMPANY LTD QTRLY LOSS PER SHARE $2.32 Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-biohaven-pharma-qtrly-loss-per-sha/brief-biohaven-pharma-qtrly-loss-per-share-2-32-idUSFWN1SM1CG |
ZURICH (Reuters) - Swiss private bank and asset manager Union Bancaire Privee has agreed to buy Carnegie Investment Bank AB unit Banque Carnegie Luxembourg SA (BCL), the parties said on Thursday without revealing financial terms.
The transaction is set to close during the fourth quarter of 2018 pending regulatory approval.
UBP, whose assets under management totaled 125.3 billion Swiss francs ($127 billion) at the end of last year, is broadening its footprint in Luxembourg, where its assets under management will now reach nearly 24 billion francs for both its private banking and its asset management activities, it said.
Established in Luxembourg in 1976, BCL offers international private banking services to Nordic clients.
“In a period where access to the European Union is crucial, we are extremely pleased with this transaction which reflects our desire to reinforce our presence in Luxembourg, where we have our European hub,” UBP Chief Executive Guy de Picciotto said.
“Furthermore, this acquisition complements UBP both geographically and culturally, bringing extensive knowledge of Nordic markets, which are key for our bank.”
Bjoern Jansson, chief executive of Carnegie Investment Bank, said: “UBP has the necessary capacity to further develop the products, services and operations in Luxembourg, while Carnegie can focus on its domestic markets”.
Reporting by Michael Shields; Editing by Edmund Blair
| ashraq/financial-news-articles | https://www.reuters.com/article/us-carnegie-m-a-ubp/swiss-private-bank-ubp-buys-carnegies-luxembourg-arm-idUSKCN1IW1JJ |
May 16, 2018 / 3:53 PM / Updated 10 minutes ago EMERGING MARKETS-Argentine peso, stocks recover after Lebac note auction Reuters Staff 5 Min Read SAO PAULO/BUENOS AIRES, May 16 (Reuters) - Argentina's stock market and peso currency climbed on Wednesday after the central bank held a successful auction of its Lebac notes a day earlier, indicating the country had calmed investor jitters at least temporarily. Late on Tuesday, Argentina's central bank sold 620.93 billion pesos ($26 billion) of short-term Lebac securities at its monthly auction, compared with about 616 billion pesos' worth of securities that matured. That came after the central bank raised the interest rate on the security to about 40 percent, up from 26.3 percent previously. In recent weeks, the Argentine peso has deteriorated rapidly, spurring the nation to seek a financing agreement from the International Monetary Fund. On Monday, the currency fell some 6 percent, hitting an all-time low. On Tuesday, however, the peso snapped a losing streak, closing up 3.73 percent after the central bank sold $791 million on the spot market. On Wednesday, the rally continued after the Lebac auction, with the peso up 0.84 percent at 23.9 to the dollar in midday trade and the benchmark Merval index up 1.44 percent. Still, the recovery remains fragile as weak fundamentals, Argentina's drought-hit soy harvest, and various other issues weigh. Futures contracts have the peso trading some 28.9 to the dollar at the end of the year. "The government won the battle, but not the war," said Fausto Spotorno, director of research at Orlando Ferreres y Asociados in Buenos Aires. Elsewhere in the region, Brazil's benchmark Bovespa index led gains, climbing some 1.77 percent by midday. Among the reasons traders cited for the rise were expectations of further cuts in the nation's benchmark Selic rate, driven by weak economic growth figures revealed on Wednesday morning. The index was also supported by a flurry of positive corporate news reports and traders buying back into stocks that registered severe losses in recent days and weeks. Education company Estacio Participacoes SA climbed some 9.6 percent after posting losses of at least 7 percent in two of the last three sessions. State-run utility company Cia Energetica de Minas Gerais SA , known as Cemig, climbed 4.4 percent after the company posted solid quarterly results, and announced new developments in its plans to sell telecommunications assets and a transmission unit. Key Latin American stock indexes and currencies at 1507 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1154.43 0.36 -0.71 MSCI LatAm 2827.92 0.96 -0.96 Brazil Bovespa 86641.07 1.77 13.40 Mexico IPC 46345.77 0.19 -6.10 Chile IPSA 5722.80 0.21 2.84 Chile IGPA 28941.79 0.27 3.43 Argentina MerVal 31119.91 1.44 3.51 Colombia IGBC 12481.31 -1.02 9.77 Venezuela IBC 21267.16 3.39 1583.67 Currencies daily % YTD % change change Latest Brazil real 3.6837 -0.64 -10.06 Mexico peso 19.7100 -0.06 -0.06 Chile peso 630.35 0.31 -2.49 Colombia peso 2871.85 0.08 3.84 Peru sol 3.267 0.18 -0.92 Argentina peso 23.9000 0.84 -22.18 (interbank) Argentina peso 24.5 1.22 -21.51 (parallel) (Reporting by Gram Slattery in Sao Paulo and Walter Bianchi in Buenos Aires; Editing by Tom Brown) | ashraq/financial-news-articles | https://www.reuters.com/article/emerging-markets-latam/emerging-markets-argentine-peso-stocks-recover-after-lebac-note-auction-idUSL2N1SN13U |
SAN FRANCISCO--(BUSINESS WIRE)-- The Board of Directors of Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, declared a regular cash dividend for the quarter ending June 30, 2018 of $0.22 per common share. The dividend will be payable on July 20, 2018 to common stockholders of record at the close of business on July 6, 2018.
Terreno Realty Corporation filed its quarterly report on Form 10-Q for the 2018 with the U.S. Securities and Exchange Commission. The financial statements and supplemental financial information are available in the Investors & Media section of Terreno Realty Corporation’s website, www.terreno.com .
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com .
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, “opportunity”, “outlook”, and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2017 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary anticipated, estimated, or projected. We expressly disclaim any responsibility to update our whether as future events, or otherwise.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180502006102/en/
Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael A. Coke, 415-655-4580
Source: Terreno Realty Corporation | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/business-wire-terreno-realty-corporation-declares-quarterly-dividend-and-files-first-quarter-2018-financial-statements.html |
May 9, 2018 / 3:37 PM / in 12 minutes ECB's Lane says too soon to say if demand slowdown hitting economy Reuters Staff 1 Min Read
DUBLIN, May 9 (Reuters) - It is too soon to say whether the euro zone is being impacted by a slowdown in global demand or just a decrease in the amount of slack in the European economy, European Central Bank Governing Council member Philip Lane said on Wednesday.
The Governing Council needs more data to make a call on this, he added.
Investors have been wondering whether weaker growth and inflation in the euro zone this year would test the ECB’s resolve in dialling back its aggressive stimulus measures.
“In terms of soft data and some of the hard data, the question is whether it is something just to acknowledge and accept as running out of room, versus a demand issue, which would trigger more questions,” Lane, the governor of the Irish Central Bank, told journalists in Dublin.
“But let’s see. Let’s see where we are. I think it’s too early to tell.”
“In June I think and next month possibly we will have much more recent data,” he added. (Reporting by Conor Humphries Editing by Hugh Lawson) | ashraq/financial-news-articles | https://www.reuters.com/article/ecb-policy-lane/ecbs-lane-says-too-soon-to-say-if-demand-slowdown-hitting-economy-idUSS8N1QW004 |
May 4 (Reuters) - Tongyang Networks Corp :
* Says it plans to sell 3 million shares of SAMPYO Cement Co., Ltd, a cement firm, for 13.72 billion won
Source text in Korean : goo.gl/Htnzii
(Beijing Headline News)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-tongyang-networks-to-sell-stake-in/brief-tongyang-networks-to-sell-stake-in-sampyo-cement-for-13-72-bln-won-idUSL3N1SB1C6 |
LONDON, May 30 (Reuters) - Britain’s foreign minister Boris Johnson said on Wednesday he was appalled by the murder of “another vocal Russian journalist” and it was vital that those responsible were brought to justice.
Arkady Babchenko, a prominent journalist and critic of President Vladimir Putin, was shot dead in Kiev, Ukraine’s capital, where he had fled into exile following threats, police said on Tuesday.
Russia has rejected Ukraine’s allegation that Moscow was behind the murder.
“Appalled to see another vocal Russian journalist, Arkady Babchenko, murdered,” Johnson said on Twitter. “We must defend freedom of speech and it is vital that those responsible are now held to account.” (Reporting by Alistair Smout Editing by William Schomberg)
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/ukraine-russia-journalist-britain/uks-johnson-says-hes-appalled-by-murder-of-another-russian-journalist-idUSL9N1QK04N |
May 23, 2018 / 11:08 AM / Updated 3 hours ago Mining companies still reluctant to tap Argentina deposits Juliana Castilla 3 Min Read
BUENOS AIRES (Reuters) - Despite Argentine President Mauricio Macri’s pro-business policies, international mining companies are still reluctant to invest in Argentina amid a lack of regulatory clarity.
More than two years into Macri’s term, the country’s dormant gold, silver, lithium and copper reserves — some discovered more than half a century ago — remain mostly untapped.
“Conditions in Argentina are not sufficient for a company to take on the risk of staying here 30 years,” Mining Secretary Daniel Meilan told Reuters in an interview.
When pro-business Macri took office in late 2015 after 12 years of leftist rule, mining companies celebrated what they hoped would be a turning point.
Mining investments plummeted when former president Cristina Fernandez, who governed Argentina from 2007-2015, imposed a 5 percent tax on mining exports and banned companies from sending profits to foreign headquarters.
Macri’s government has repealed both measures and declared mining a key industry. Investments in mining exploration, helped by rising mineral prices, rose to $300 million last year, up from $148 million in 2016, according to official data.
But a lack of clarity on environmental rules, overlapping federal and local taxes, and regulations that vary from province to province continue to loom over proposed mines.
Meilan, Argentina’s top mining official, acknowledged more must be done to rebuild investor trust in an industry where it can take decades to recover an investment.
He said the industry might bounce back if Congress approves an agreement Macri’s government signed with the country’s main mining provinces to unify industry regulations — a feat that would remove a key source of confusion for miners.
But the agreement, which was forged late last year, has not yet been debated by lawmakers and could run into opposition in the lower house, where the governing coalition lacks a majority.
“Argentina as a whole has not yet shown a clear direction regarding mining,” an industry source who asked not to be identified said.
A law aimed at preserving glaciers in the Andes, home to a large part of Argentina’s mineral wealth, has also helped keep some large projects on ice.
Passed in 2010, rules on how the law will work still have not been written, raising questions over how it might impact projects in the highlands such as Glencore’s El Pachon, McEwen Mining Inc’s Los Azules and Yamana Gold’s Agua Rica.
Last week the environment minister presented a survey it completed on the country’s glaciers and surrounding areas, and Congress must now define how it will be used.
“There are a lot of projects already considered feasible — gold, copper, silver — that will be affected by the (glacier) law,” Marcelo Alvarez, the head of Argentina’s mining chamber said. Reporting by Juliana Castilla; Writing by Mitra Taj; Editing by Sandra Maler | ashraq/financial-news-articles | https://www.reuters.com/article/us-argentina-mining/mining-companies-still-reluctant-to-tap-argentina-deposits-idUSKCN1IO1IM |
Fed going to hike rates another 3 or 4 times this year, analyst says 2 Hours Ago Gershon Distenfeld, co-head of fixed income and director of credit at AllianceBernstein, discusses anticipated Federal Open Market Committee minutes. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/23/fed-going-to-hike-rates-another-3-or-4-times-this-year-analyst-says.html |
UPDATE 5-Bayer wins U.S. nod for Monsanto deal to create agriculture giant Diane Bartz and Ludwig Burger Published 21 Hours Ago
* Bayer has said expects deal to close soon
* Agrees to shed $9 bln of assets to secure deal
* Shares rise to top of Germany's DAX (Adds KWS, share price, analyst)
FRANKFURT/WASHINGTON, May 30 (Reuters) - Bayer won U.S. approval for its planned takeover of Monsanto after agreeing to sell about $9 billion in assets, clearing a major hurdle for the $62.5 billion deal that will create by far the largest seeds and pesticides maker.
Makan Delrahim, who heads the U.S. Justice Department's (DoJ) Antitrust Division, said the asset sales agreed to by Bayer were the "largest ever divestiture ever required by the United States."
A Bayer spokesman said the planned sale of businesses with 2.2 billion euros ($2.54 billion) in sales to BASF already agreed to address antitrust concerns, mainly in Europe, were not materially different from the DoJ's demands.
"Receipt of the DOJ's approval brings us close to our goal of creating a leading company in agriculture," Bayer CEO Werner Baumann said in a statement.
Shares in Bayer jumped to the top of Germany's DAX index in early Wednesday trading and were trading up 2.8 percent at 101.6 euros by 0833 GMT.
Bernstein analysts said the DoJ approval made it possible for Bayer to close the Monsanto deal by the end of June.
After months of delays in a drawn-out review process the ruling brings Bayer close to creating an agricultural supplies giant with sales of about 20 billion euros, based on 2017 figures, when taking into account the divestments.
At current foreign exchange rates, that compares to about 12.4 billion euros at DowDuPont's Corteva Agriscience unit, 11 billion euros at ChemChina's Syngenta and 7.9 billion at BASF, including businesses to be acquired.
Bayer's move to combine its crop chemicals business, the world's second-largest after Syngenta AG, with Monsanto's industry-leading seeds business, is the latest in a series of major agrochemicals tie-ups.
U.S. chemicals giants Dow Chemical and DuPont merged in September 2017 and are now in the process of splitting into three units. In other consolidation in the sector, China's state-owned ChemChina purchased Syngenta and two huge Canadian fertilizer producers merged to form a new company, now called Nutrien.
Bayer committed to selling its entire cotton, canola, soybean and vegetable seeds businesses and digital farming business, as well its Liberty herbicide, which competes with Monsanto's Roundup.
Under agreements with European and other antitrust enforcers, Bayer agreed to sell assets with revenues of 2.2 billion euros ($2.6 billion), to rival BASF for 7.6 billion euros.
Bayer said in a statement it expected Bayer and Monsanto to begin the integration process as soon as the sales to BASF are complete, which it said are expected to take two months to complete.
If Bayer does not close the deal by June 14, Monsanto could withdraw from the takeover agreement and seek a higher price.
It has already secured the go-ahead from key jurisdictions, including the European Union, Brazil and Russia. Apart from the United States, it still needs clearance in Canada and Mexico.
In a separate statement, Bayer said on Tuesday said the European Commission had approved BASF as a suitable buyer of the businesses to be divested.
German seed seller KWS Saat, which had made an eleventh-hour bid for Bayer's vegetable seed business, said on Wednesday it accepted the Commission's decision.
Bayer last week said synergies from folding Monsanto into its organization would be about $300 million below its previous target because it will have to sell more businesses than initially expected.
($1 = 0.8668 euros) (Additional reporting by Patricia Weiss; Editing by Mark Potter, Dan Grebler and David Evans) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/30/reuters-america-update-5-bayer-wins-u-s-nod-for-monsanto-deal-to-create-agriculture-giant.html |
HONG KONG/BEIJING (Reuters) - The local authorities running several major Chinese cities have begun to ease restrictions on pre-sales of new apartment buildings, and are in some cases for the first time in about a year allowing developers to raise prices slightly.
FILE PHOTO: A cable is seen near residential buildings under construction in Beijing, China April 20, 2018. REUTERS/Jason Lee/File Photo The loosening in cities such as Shanghai, Hangzhou, Nanjing and Xiamen has led to a surge in the marketing of new home developments over the past two months, with developers also eager to ramp up the launches to boost their cashflow.
“Both factors will lead to an obvious rise in housing supply in the top cities in the second quarter,” said David Hong, the Hong Kong head of research at CRIC, a real estate research firm.. “Many developments which have already reached the pre-sales requirements last year will be launched into the market.”
Pre-sales refer to the selling of homes in housing developments before they are ready to occupy, and often before the construction has been completed.
The changes highlight competing interests between China’s stability-minded central government and revenue-hungry local authorities, as well as the challenges in artificially containing a still hot market that has remained a one-way bet.
The mild loosening is city specific, according to nine developers interviewed by Reuters, and there is little expectation of a nationwide easing in curbs anytime soon. Developers said, for example, pre-sale approvals remain extremely strict in Beijing because it is closely monitored by the central government.
But real estate experts said it could be a sign of things to come elsewhere in the country as the cities, relying heavily on land sales and property taxes, try to boost real estate sales and keep housing supply in line with demand.
Any relaxation should bolster the developers’ profitability and could help to support economic growth at a time when there are fears it could be flagging, though if it is restricted to only a few cities the impact will be modest, economists and analysts said.
The pent-up demand for land development is high as Chinese cities sold a record 5.2 trillion yuan worth of land usage rights in 2017, up 40.7 percent from a year earlier, data from the finance ministry shows.
The Ministry of Housing and Urban-Rural Development (MOHURD) did not respond to faxed requests for comment. The housing authorities in Shanghai, Nanjing, Xiamen and Hangzhou didn’t answer calls from Reuters.
The official Xinhua news agency reported last week that MOHURD has reiterated that policies to control home prices and prevent speculative investment in the property market will not be changed or loosened.
PRICES STILL RISING The latest housing price data for March shows that average new home prices rose for their 35th consecutive month, with more cities reporting growth, though the annual price appreciation has dropped to 4.9 percent in the latest period from a record 12.6 percent in November 2016. The next monthly figures, for April, are due out on Wednesday.
But China’s official housing data has been criticized for being artificial – local authorities can have an impact on the figures by setting price caps and changing home sales and purchase approval speed so that they aren’t seen to be undermining Beijing’s policies.
“To stabilize prices, the local government has been delaying approvals for expensive projects until there are enough cheaper projects to offset such price gains,” said a government source in Hefei, the capital city of Anhui province, who declined to be named because of the sensitivity of the issue.
In Shanghai, pre-sale permits approved in March and April alone totaled 47 for an area of 1.74 million square meters, almost 50 percent of the figure for all of last year, according to CRIC, suggesting the pace of new developments is picking up.
“We expect more flexibility in price setting in some first- and second-tier cities,” said Eva Lau, investor relations manager for Shanghai-based Shimao Property ( 0813.HK ), which is among the top 20 developers in China in terms of sales.
One developer, who declined to be named given the sensitivity of the topic, said Shanghai and Nanjing are two cities it has seen some loosening recently.
“In Nanjing, the authority came to us and asked if we would launch the project if they raise the approval price by 1,000 yuan,” the developer added, citing a 5 percent increase in the medium-sized apartment sales prices by an average 20,000 yuan.
And another developer, that has recently launched new apartments in Shanghai, said some pre-sale approval requirements in place since last year - such as allowing developers to apply for each sales permit only after building more than 30,000 square meters - have been removed. The easing allows developers to start selling more quickly.
INVENTORY DOWN February inventory levels in Shanghai dropped to 4.9 months, compared to 7.8 months a year ago, while Nanjing was only 3.8 months, versus 6.7 months a year ago, according to CRIC. Figures lower than six months indicate that the market is undersupplied, CRIC’s Hong said.
Recent approval prices have also crept higher in second-tier cities, such as Xiamen and Hangzhou. One Hangzhou-based developer said the eastern city has unofficially stated that if sales registration for a development is suspended for three months, developers can then raise the price by up to 20 percent.
Aside from the official restrictions, the developers last year held back sales of some prime projects in the hope that prices would soon start surging again, but those hopes have since dimmed.
“Developers don’t want to wait anymore,” said a Shenzhen-based developer.
“When people see there’s a pick up in the speed of sales permits, then they push out new launches faster for cash collection.”
Developers were also more willing to make concessions in the pricing of luxury projects, after Shanghai resumed pre-sale approvals this year, a move that developers and property analysts said was able to be made given a relaxation of political sentiment after the Communist Party Congress last October.
At least seven luxury projects with prices over 80,000 yuan per square meter were approved for pre-sale in April, but the approved selling prices were lower than the secondary market, where no price caps are imposed.
“Our approved selling price was around 95,000, compared to 110,000 in the secondary market,” said an official at one of the Shanghai developers, also in reference to the price in yuan per square meter. “The price cap has a larger impact on us since we’re a high-end developer, but we can’t keep the projects indefinitely.”
Editing by Martin Howell
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/us-china-property-home-prices/in-some-chinese-cities-authorities-reduce-curbs-on-new-apartment-pre-sales-idUSKCN1IG06R |
Hawaiian Airlines CEO: Vast majority of Hawaii tourism infrastructure ‘open for business’ 49 Mins Ago Hawaiian Airlines CEO Peter Ingram discusses the impact on travel and tourism from the eruptions of the Kilauea volcano. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/22/hawaiian-airlines-ceo-vast-majority-of-hawaii-tourism-infrastructure-open-for-business.html |
The New York Giants have made clear their desire to keep wide receiver Odell Beckham Jr. long term, but owner John Mara indicated Tuesday the team isn’t in a rush to get a deal done.
Oct 8, 2017; East Rutherford, NJ, USA; New York Giants wide receiver Odell Beckham (13) is injured after tackle by Los Angeles Chargers cornerback Casey Hayward (26) during second half at MetLife Stadium. Mandatory Credit: Noah K. Murray-USA TODAY Sports The star wideout is set to make $8.5 million this fall in the fifth and final year of his rookie contract. Beckham has made no secret of his desire for a rich new deal, yet the team isn’t prepared to extend his contract at any cost.
“I wouldn’t say sense of urgency. The contract will get done when it’s supposed to get done,” Mara said Tuesday while speaking at a United Way-sponsored gala in New York. “I think that is the (general manager) Dave Gettleman line. I think I’m going to adopt that. All spring, all summer, as long as it takes. ...
“It’s not the first contract negotiation we’ve ever had. It’ll get done when it’s supposed to get done.”
The fact that Beckham, 25, showed up at voluntary team workouts this spring pleased Mara.
February 18, 2018; Los Angeles, CA, USA; New York Giants football player Odell Beckham Jr. in attendance during the 2018 NBA All Star Game at Staples Center. Mandatory Credit: Bob Donnan-USA TODAY Sports “I was happy to see him,” the team owner said.
Beckham was sidelined for most of last season. He missed the opener due to an ankle injury, then returned to play four games before sustaining a fractured left ankle against the Los Angeles Chargers.
Beckham finished 2018 with 25 catches for 302 yards and three touchdowns. Over his previous three pro seasons, he averaged 96 catches, 1,374 receiving yards and 11.7 touchdowns.
The Giants selected Beckham 12th overall in the 2014 NFL Draft out of LSU.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/us-football-nfl-nyg-beckham-mara/new-york-giants-mara-no-sense-of-urgency-to-beckham-deal-idUSKBN1IA1SU |
SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Tuesday reported a loss of $18.2 million in its first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 41 cents. Losses, adjusted for one-time gains and costs, came to 33 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The maker of components for communications networks posted revenue of $68.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $70.1 million.
For the current quarter ending in July, NeoPhotonics expects its results to range from a loss of 26 cents per share to a loss of 16 cents per share.
The company said it expects revenue in the range of $70 million to $76 million for the fiscal second quarter.
NeoPhotonics shares have decreased slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.10, a drop of 21 percent in the last 12 months.
This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on NPTN at https://www.zacks.com/ap/NPTN | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/08/the-associated-press-neophotonics-1q-earnings-snapshot.html |
When Elon Musk isn't launching SpaceX rocket ships or pulling all-nighters at the Tesla factory , the business mogul has a simple routine for coming up with new ideas: spending stretches of time letting his mind wander.
"Need to have long uninterrupted times to think. Can't be creative otherwise," Musk wrote in a tweet on Tuesday.
An article on the job search site Ladders asserts that Musk manages to get everything done by blocking out his day in five-minute intervals , but the Tesla CEO disputes the claim: "I definitely don't do this 5 minute thing," he wrote, because it would interfere with his ability to come up with new ideas.
Tweet
Musk has prioritized time to reflect for decades now. When he was a kid , his mother Maye says, Elon ignored people and zoned out so often that his parents and doctors ordered tests to check if he was deaf. She eventually got used to the habit. "He goes into his brain and then you just see he is in another world. He still does that," Maye recalls in Ashlee Vance's book, " Elon Musk ." "Now I just leave him be because I know he is designing a new rocket or something."
show chapters This is how Tesla CEO Elon Musk stays productive 7:07 AM ET Mon, 19 June 2017 | 01:01 LinkedIn CEO Jeff Weiner and Virgin Group founder Richard Branson also advocate for giving yourself stretches of uninterrupted time.
For years, Weiner has found that scheduling time every day to do nothing is crucial for him to be efficient. Each day's calendar includes 30- to 90-minute blocks of time that allow him to "process what was going on" around him and "just think."
"At first, these buffers felt like indulgences. I could have been using the time to catch up on meetings I had pushed out or said 'no' to," Weiner writes in a LinkedIn post . "But over time I realized not only were these breaks important, they were absolutely necessary in order for me to do my job."
show chapters Suzy Welch: This is the productivity hack that top CEOs swear by 5 Hours Ago | 01:33 "Use that buffer time to think big, catch up on the latest industry news, get out from under that pile of unread emails, or just take a walk," Weiner suggests. "The buffer is the best investment you can make in yourself and the single most important productivity tool I use."
Branson agrees: "Open your calendar and schedule time just to dream." Far too many people get weighed down in doing and don't take the time to think and feel, Branson writes on his blog .
By scheduling time to think freely — whether it's an hour or an entire a day — "you'll be able to see the bigger picture much easier," Branson says.
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May 1 (Reuters) - Just Eat Plc:
* UK ORDERS INCREASED BY 24% TO 29.7 MILLION (Q1 2017: 24.0 MILLION)
* REPORTED REVENUES WERE UP 49% TO £177.4 MILLION IN Q1 (Q1 2017: £118.9 MILLION)
* GROUP REVENUE £177.4 MILLION, UP 49% * INTERNATIONAL ORDERS WERE UP 46% TO 21.9 MILLION (Q1 2017: 15.0 MILLION)
* REITERATE GUIDANCE GIVEN AT TIME OF 2017 FULL YEAR RESULTS IN MARCH OF GROUP REVENUE OF BETWEEN £660 - 700 MILLION
* REITERATE GUIDANCE OF UEBITDA OF £165 - 185 MILLION IN 2018 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-just-eat-reports-q1-group-revenue/brief-just-eat-reports-q1-group-revenue-177-4-million-up-49-pct-idUSFWN1S71G1 |
May 10 (Reuters) - Natures Sunshine Products Inc:
* NATURE’S SUNSHINE PRODUCTS REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS
* Q1 EARNINGS PER SHARE $0.03 * Q1 SALES ROSE 5.1 PERCENT TO $87.3 MILLION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-natures-sunshine-products-reports/brief-natures-sunshine-products-reports-q1-earnings-per-share-0-03-idUSASC0A1N9 |
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