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SAN JOSE, Calif. (AP) _ MoSys Inc. (MOSY) on Thursday reported first-quarter net income of $348,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had net income of 4 cents. Earnings, adjusted for stock option expense and amortization costs, were 6 cents per share.
The semiconductor technology company posted revenue of $4.2 million in the period.
For the current quarter ending in July, MoSys said it expects revenue in the range of $4.3 million to $4.5 million.
In the final minutes of trading on Thursday, the company's shares hit $1.52. A year ago, they were trading at 75 cents.
This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on MOSY at https://www.zacks.com/ap/MOSY | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/10/the-associated-press-mosys-1q-earnings-snapshot.html |
May 16 (Reuters) - American Campus Communities Inc:
* AMERICAN CAMPUS COMMUNITIES INC FILES PROSPECTUS SUPPLEMENT RELATED TO OFFERING OF UP TO $500 MILLION SHARES OF CO'S COMMON STOCK - SEC FILING Source text: ( bit.ly/2Iqtaas ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-american-campus-communities-files/brief-american-campus-communities-files-prospectus-supplement-related-to-offering-of-up-to-500-mln-shares-idUSFWN1SN0Z5 |
May 9 (Reuters) - Crystal Exploration Inc:
* CRYSTAL INCREASES NON-BROKERED UNIT OFFERING
* CRYSTAL EXPLORATION - NOW PROPOSES TO COMPLETE A NON-BROKERED PRIVATE PLACEMENT OF 53.5 MILLION UNITS AT AN OFFERING PRICE OF $0.06 PER UNIT Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-crystal-increases-non-brokered-uni/brief-crystal-increases-non-brokered-unit-offering-idUSFWN1SG1PK |
PARIS (Reuters) - French battery maker Saft, a unit of oil and gas major Total said on Friday it plans to invest over 200 million euros ($233 million) in a next generation European battery alliance project.
FILE PHOTO: Company logo of Saft Groupe, battery specialists, is pictured at the entrance of their plant in Poitiers, France, October 5, 2017. REUTERS/Regis Duvignau/File Photo Saft formed the alliance with European partners Siemens, Solvay and Manz in February to research, develop and build a new generation solid-state battery to compete with Asian and U.S. manufacturers.
The level of funding from its partners is still to be decided, Saft told Reuters in response to questions.
FILE PHOTO: Batteries for electric vehicles are manufactured at a factory in Dongguan, China September 20, 2017. Picture taken September 20, 2017. REUTERS/Bobby Yip/File Photo The company said part of its investment will come from internal funds and part, yet to be determined, will come from the European Union’s executive arm which has said it will support the development of a European battery sector.
FILE PHOTO: A sign is pictured on an electric car charging station at the United Nations in Geneva, Switzerland June 2, 2017. REUTERS/Denis Balibouse/File Photo Europe is lagging rivals in the development of its own battery sector and European car makers have turned to dominant battery manufacturers in Asia such as Japan’s Panasonic Corp, South Korea’s Samsung SD and China’s BYD Co as demand for electric vehicles grows.
Saft plans to develop a solid-state battery technology which can be competitive by 2025, with a battery that has twice the performance of those in the market today, the company said.
It plans to develop batteries with 5,000–10,000 (charge and re-charging) cycles, with more than 10 years usage for electric vehicles, and a 20-year calendar life.
“The target is to demonstrate a prototype cell at lab level by the fourth quarter of 2019 and build up a 2 megawatt-hour (MWh) pilot line by Q4 2021,” it said.
If the project is successful, it will build a 1 gigawatt-hour manufacturing standard block by the fourth quarter of 2023, and develop larger scale production based on 2024 market demand, Saft said.
Reporting by Bate Felix; Editing by Elaine Hardcastle
| ashraq/financial-news-articles | https://www.reuters.com/article/us-europe-battery-saft-exclusive/exclusive-totals-saft-plans-over-200-million-euros-investment-in-next-generation-battery-idUSKCN1IQ2NI |
May 15, 2018 / 12:16 PM / in 14 minutes Sri Lankan shares snap losing streak; fuel price hike weighs Reuters Staff 3 Min Read
COLOMBO, May 15 (Reuters) - Sri Lankan shares ended firmer on Tuesday, edging up from a near five-week closing low hit in the previous session, led by Ceylon Cold Stores Plc, while the recent fuel price hike weighed on sentiment, stockbrokers said.
The day’s turnover slumped to near one-month low as investors stayed on the sidelines, they said.
State-run fuel retailer Ceylon Petroleum Corp (CPC) raised retail prices for gasoline and diesel on Thursday midnight in response to the hike in oil prices, while Lanka IOC, a subsidiary of Indian Oil Corp, increased fuel rates the same day.
“It was a slow day and market participation was very low as the investors are still awaiting to see the real economic impact of the fuel price hike,” said Hisham Haniffa, assistant manager, Softlogic Stockbrokers (pvt) Ltd.
The Colombo stock index ended 0.18 percent firmer at 6,456.32, snapping six straight sessions of declines.
“Market is hovering near its psychological barrier of 6,450 level.”
The day’s turnover stood at 325.4 million rupees ($2.06 million), its lowest since April 19, and well below this year’s daily average of 1.02 billion rupees.
Foreign investors net bought 6.3 million rupees worth of equities on Tuesday, but they have been net sellers of 662.3 million rupees worth of equities so far this year.
Shares in Ceylon Cold Stores Plc ended 1.5 percent higher, while Lanka ORIX Leasing Co Plc closed 2.5 percent firmer and Commercial Bank of Ceylon Plc ended 0.3 percent up.
The market shrugged off the central bank’s policy decision on Friday as it was widely expected, brokers said.
The central bank kept its key policy rates steady, a little more than a month after it unexpectedly cut the main lending rate, forecasting a modest recovery in the economy this year after growth slumped to a 16-year low in 2017.
Analysts said the depreciation of rupee also weighed on investor sentiment as it is likely to hit profits of some listed firms that rely heavily on imports.
The rupee hit a fresh low of 158.00 per U.S. dollar on Monday on importer demand for the U.S. currency.
Analysts said concerns over political instability following President Maithripala Sirisena’s decision to suspend the parliament last month after 16 legislators from his ruling coalition defected also weighed on sentiment.
Last week, Sirisena urged his own coalition government and the opposition to end a power struggle in order to achieve ambitious goals including anti-corruption measures. $1 = 158.1500 Sri Lankan rupees Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips | ashraq/financial-news-articles | https://www.reuters.com/article/sri-lanka-stocks/sri-lankan-shares-snap-losing-streak-fuel-price-hike-weighs-idUSL3N1SM570 |
May 7 (Reuters) - Louisiana-Pacific Corp:
* LP INVESTS $45 MILLION IN OFF-SITE FRAMING MANUFACTURER ENTEKRATM Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-louisiana-pacific-corp-invests-45/brief-louisiana-pacific-corp-invests-45-mln-in-off-site-framing-manufacturer-entekratm-idUSFWN1SE0D6 |
(Adds reaction from ex-MPC member Kate Barker, details)
LONDON, May 16 (Reuters) - Bank of England Deputy Governor Ben Broadbent apologised on Wednesday for saying Britain’s economy was going through a “menopausal” phase in a comment that attracted criticism and could revive concern about gender diversity at the bank.
“I’m sorry for my poor choice of language in an interview with the Telegraph yesterday and regret the offence caused,” Broadbent said in a statement.
Broadbent, 53, had told the newspaper that years of poor productivity and weak wage growth meant Britain was going through a “menopausal” moment. The Telegraph did not publish the Quote: in full.
The ex-Goldman Sachs economist, among those tipped as a successor to BoE Governor Mark Carney who stands down next year, said in the interview that experts used the phrase to describe economies that were “past their peak and no longer so potent”.
His comments attracted derision on social media.
“As reported I found them pretty offensive,” economist Kate Barker, one of Broadbent’s predecessors on the BoE’s Monetary Policy Committee, said on Twitter.
Sarah Wollaston, a lawmaker of Prime Minister Theresa May’s Conservative Party, described Broadbent’s comments as “pejorative tosh”.
“#Menopause only a problem if others try to sideline you because of ignorant prejudice,” she tweeted.
Broadbent’s comments are likely to put the relative lack of gender diversity in senior management back in the spotlight.
Last year lawmakers said they were disappointed by finance minister Philip Hammond’s slow progress at encouraging greater diversity at the highest levels of the Bank.
There are only three women out of more than 20 officials who serve on the BoE’s three major policy committees, appointed by the finance ministry.
In his apology, Broadbent said he had been trying to explain the word “climacteric”, a term used by economic historians to describe a period of low productivity growth during the nineteenth century.
“Economic productivity is something which affects every one of us, of all ages and genders,” he said. (Reporting by Andy Bruce Editing by Matthew Mpoke Bigg)
| ashraq/financial-news-articles | https://www.reuters.com/article/britain-boe-broadbent-menopausal/update-1-bank-of-englands-broadbent-apologises-for-menopausal-remark-idUSL5N1SN34I |
LONDON (Thomson Reuters Foundation) - Suburbs are often seen as sleepy backwaters, but a new project aims to show how a vibrant mix of faith communities is putting some of London’s less celebrated outskirts at the forefront of social change.
Mosques, synagogues and Sikh temples nestle alongside traditional pubs and shops on the streets of Ealing, a west London suburb that is one of the most culturally diverse areas in Britain, according to local government statistics.
“These are the kinds of places where real social and cultural change is taking place,” David Gilbert, a professor of urban and historical geography at London’s Royal Holloway University, told the Thomson Reuters Foundation.
“People are just living everyday lives and rubbing along together,” said Gilbert, part of the “Making Suburban Faith” project, which aims to highlight how religious groups are creating community spaces in London’s suburbs.
While attention often focuses on London’s grand urban developments, Gilbert says faith communities on the city’s edge are quietly repurposing old community halls or converting homes into churches or Sikh temples.
Betty Pemberton, 76, has lived in Ealing since the 1960s when she migrated from Ireland to work as a nurse, and says the area has changed with each new wave of immigration.
A committed Catholic, she still attends mass every week, but says the numbers have dwindled as the make-up of the community has changed. Just under half of Ealing’s residents said they were Christian in a 2011 census.
“It changed when the Irish came ... then we had the Indians and the West Indians with Wind Rush, it’s changed completely,” said Pemberton.
“It’ll never be any other way, it (London) is almost like a magnet.”
“Making Suburban Faith” aims to celebrate those changes through everything from architecture to food.
Filmmaker Laura Cuch honed in on Ealing as a multicultural microcosm for her documentary about the links between food and spirituality, which can bring diverse faith communities together.
Her film profiles a middle-aged Muslim man, an elderly Catholic woman and a young Jewish student in Ealing.
In it, neighbors learn about each other’s faiths through food - from a fruity Christmas pudding to a spicy Moroccan tagine and a chicken soup, known as Jewish penicillin for its cold-curing properties.
“Food can bridge a gap, it’s always used to bring people together,” said Cuch at a recent screening of the film.
“Ealing has its own identity as a very multicultural area with a very particular migration history that means that there are people from all over the world living together in this suburban area.”
As part of the project, international architect Ada Yvars Bravo worked with local schoolchildren in Ealing to help design mock shared religious spaces.
The project led to a wealth of ideas and designs including 3D modeling, stacked spaces and real-life visits to faith centers.
“What we try to do is to say you don’t need to differentiate, that’s why we love what they’re doing,” said Bravo of Mangera Yvars Architects (MYAA), which has designed mosques in Qatar and Orthodox churches in Georgia.
“It’s incredible because they are teaching people that everyone is the same and we can live all together.”
Reporting by Adela Suliman, Editing by Claire Cozens. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, property rights, climate change and resilience. Visit news.trust.org
| ashraq/financial-news-articles | https://www.reuters.com/article/us-britain-cities-religion/spirituality-in-the-suburbs-the-london-district-uniting-faiths-idUSKCN1IP2UI |
OKOTOKS, Alberta, May 22, 2018 (GLOBE NEWSWIRE) -- (TSX:MTL) The Board of Directors of Mullen Group Ltd. (" Mullen Group " and/or the " Corporation ") announced today that it has declared a monthly dividend of $0.05 per Common Share payable to the holders of record of Common Shares at the close of business on May 31, 2018. The dividend will be paid on June 15, 2018.
For Canadian resident shareholders, this dividend is designated as an "eligible dividend" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.
Mullen Group is a company that owns a network of independently operated businesses . The Corporation is recognized as one of the leading suppliers of trucking and logistics services in Canada and provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. The corporate office provides the capital and financial expertise, legal support, technology and systems support , shared services and strategic planning to its independent businesses.
Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol " MTL ". Additional information is available on our website at www.mullen-group.com or on SEDAR at www.sedar.com .
For further information, please contact:
Mr. Murray K. Mullen - Chairman of the Board, Chief Executive Officer and President
Mr. P. Stephen Clark - Chief Financial Officer
Mr. Richard J. Maloney - Senior Vice President
121A - 31 Southridge Drive
Okotoks, Alberta, Canada T1S 2N3
Telephone: 403-995-5200
Fax: 403-995-5296
Source: Mullen Group Ltd | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/globe-newswire-mullen-group-ltd-aannounces-declaration-of-monthly-dividend.html |
May 25, 2018 / 5:48 AM / Updated 37 minutes ago Philippines president to visit South Korea in June, South Korea says Reuters Staff 1 Min Read
SEOUL (Reuters) - Philippine President Rodrigo Duterte will make his first visit to South Korea from June 3 to 5, South Korea’s presidential office said on Friday. FILE PHOTO: Philippines President Rodrigo Duterte gestures during an armed forces change of command ceremony at Camp Aguinaldo in Quezon City, Metro Manila, Philippines April 18, 2018. REUTERS/Dondi Tawatao/File Photo
South Korean President Moon Jae-in and Duterte will have a summit on June 4, the Blue House said in a statement. The leaders will discuss measures to reinforce their alliance and further improve ties. Reporting by Haejin Choi; Editing by Clarence Fernandez | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-southkorea-philippines/philippines-president-to-visit-south-korea-in-june-south-korea-says-idUKKCN1IQ0J1 |
May 9, 2018 / 7:05 PM / Updated an hour ago Golf - McIlroy seeks to solve Sawgrass puzzle as Day eyes another win Andrew Both 3 Min Read
PONTE VEDRA BEACH, Fla. (Reuters) - Former world number ones Rory McIlroy and Jason Day have different comfort levels entering the Players Championship — one knowing what it takes to win at TPC Sawgrass, and the other still seeking to solve the puzzle of the famous course. May 4, 2018; Charlotte, NC, USA; Rory McIlroy plays his shot from the seventh tee during the second round of the Wells Fargo Championship golf tournament at Quail Hollow Club. Mandatory Credit: Jim Dedmon-USA TODAY Sports
While Day blew away the field for a dominating four-stroke victory two years ago, McIlroy has not finished better than sixth in the event.
But the Northern Irishman says he has slowly learned the keys to success after missing the cut on his first three visits, and has at least given himself a chance of contending in his past few starts.
“I sort of learned to play the course a little bit better and reined myself in on some tee shots, and that’s what’s brought me a little bit of success here,” McIlroy said on Wednesday.
“Once I started to be a little more conservative, I started to sort of top-10 it and give myself half a chance.
“This is my ninth time here, so I’m not a spring chicken anymore. I think it is about time to step up and give myself a chance of victory.”
McIlroy has not had a bad season, highlighted by a victory at the Arnold Palmer Invitational in March, but this week will be his first high-pressure test since last month’s U.S. Masters disappointment.
Playing the final round with eventual winner Patrick Reed, McIlroy was never a factor after missing a four-foot eagle putt at the second hole.
“I took a lot of positives from the fact I probably didn’t have my best stuff at Augusta and I still was able to play my way into the final group and contend,” he said.
“So, yeah, it gives you motivation. There’s a lot of golf to play. We’re not even halfway through the season. We have got the other three major championships.”
McIlroy, a Manchester United fan, also offered his best wishes to Alex Ferguson as the club’s former manager seeks to recover from a brain haemorrhage.
“I’ve gotten to know Sir Alex pretty well over the years,” he said. “He’s a very driven individual. He says complacency is a disease.”
Complacency will not be a problem for Day, who has a burning desire to regain his world number one ranking.
Day has been focused on mechanics since winning the Wells Fargo Championship on Sunday, despite struggling with his swing.
He says his swing got knocked around in the wind last week, and that he started hitting big hooks, so he has been working hard with coach Col Swatton.
“I don’t usually bring Col into tournament, only because I typically like to work with him before events,” Day said.
“But I’ve had a three-week stretch here, and I feel the swing’s getting a little bit loose, so we just tried to even out the path a little bit.
“It’s still not quite there. I just need to hit the back of the ball with a square clubface. Pretty easy, right?” Reporting by Andrew Both, editing by Ed Osmond | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-golf-players-mcilroy-day/golf-mcilroy-seeks-to-solve-sawgrass-puzzle-as-day-eyes-another-win-idUKKBN1IA32T |
Mad Money with Jim Cramer Cramer Remix: Don’t let this buying opportunity pass again "Mad Money" host Jim Cramer reveals why FMC Corp.'s recent dip is a prime time to buy the stock. Cramer also hears from the CEOs of Indigo Agriculture and Intuit. In the lightning round, Cramer points out a stock that could be sliding for the wrong reasons. 2 Hours Ago | 01:03
Lithium stocks like FMC Corp. are under pressure, but for CNBC's Jim Cramer, the agricultural chemical play is flashing screaming buy signals.
"I'm glad FMC's getting hit here because you're getting a chance to buy a red-hot stock into weakness, just in case you missed the incredible buying opportunity in March," when the stock was at a low after a 26 percent drop since January, the "Mad Money" host said.
With shares of FMC still down roughly 10 percent from their January highs, Cramer argued that they're not yet factoring in the company's better-than-anticipated first-quarter earnings results.
"It's one of the least expensive stocks in both the agriculture space, which is very popular, and the lithium space – OK, that's cooled a bit – but selling for just 13 times next year's earnings estimates," Cramer said. "That's, frankly, lunacy. I mean, it's got a 15 percent long-term growth rate. If you can buy it for 13.1 times earnings with a 15 percent growth rate, that's called a steal." Pitting Netflix against Disney Bettman Collection | Getty Images Babe Ruth with Herbert Hoover.
All day on Thursday, Cramer heard market-watchers buzz about the stock of Netflix surpassing the stock of the Walt Disney Company in market capitalization.
Netflix, the online streaming giant behind popular titles such as Stranger Things with the best-performing stock in the S&P 500 so far this year, reached a market value of $152.6 billion on Thursday, according to FactSet.
Shares of Disney, the ubiquitous entertainment company with successful franchises like Star Wars and Marvel's Avengers , fell about 1 percent, pushing Disney's market value to $151.8 billion.
But to Cramer, comparing the two entertainment plays was not particularly useful.
"To me, this comparison is as fatuous as one drawn by a reporter who famously asked Babe Ruth back in 1930, how it is possible that he made $80,000 a year when President Herbert Hoover was paid just $75,000?" Cramer said.
"His response: 'What's Hoover got to do with it? Besides, I had a better year than he did,'" Cramer said of the baseball legend. Indigo Agriculture CEO on revolutionizing agriculture Adam Jeffery | CNBC David Perry, CEO of Indigo.
As consumers grow increasingly health-conscious and chemical-averse, companies like Indigo Agriculture are working to weed out old, synthetic agricultural solutions like GMOs, Indigo CEO David Perry told CNBC on Thursday.
"Modern agriculture's really built on technologies that were created decades ago: synthetic fertilizer, synthetic chemicals, GMOs and plant breeding. We're taking an entirely new approach," Perry told Cramer in an exclusive interview.
"I think this is an opportunity to see a revolution in agriculture using naturally discovered microbes to improve yields of plants and also to protect them against pests and insects so we can reduce the amount of fertilizer used and the amount of agricultural chemicals used," Perry said Thursday.
For more on why Perry's company is a CNBC Disruptor for 2018 and how it's changing the farming space, click here . Inflation worries: Overextended or just right? Agustín Faggiano | Getty Images
Cramer could not hold back as he watch the 10-year U.S. Treasury yield sink lower on Thursday and hover around 2.9 percent.
Investors worried for weeks about the yield on the 10-year rising above 3 percent and destroying the stock market's gains, so the "Mad Money" host was surprised that more market-watchers weren't coming out and saying that now that it's declining, stocks could run higher.
"Why are rates falling ? Yesterday we got Fed minutes from the May meeting and the esteemed body agreed that inflation may be transitory and not embedded," Cramer said. "If inflation is temporary, people, there's much less need for the Fed to tighten aggressively."
Cramer had five reasons for why the Fed's call that inflation wouldn't run above 2 percent for long seemed sound. Intuit CEO on finding catalysts in tax code change
For Intuit Chairman and CEO Brad Smith and his company, the parent of TurboTax, Mint and other financial planning aids, the ability to evolve with the times is key to success.
That's why Intuit rolled out TurboTax Live in the face of the Trump administration's new, reportedly simplified tax code, which will offer a "postcard-style" system for filing taxes, according to members of Congress.
"The reality is, in the U.S., about 155 million people file taxes. Ninety million of them go to a tax store or a CPA, and with tax simplification, more of them are now going to have confidence that maybe they can file their taxes on their own at a much lower cost," Smith said.
"And now that we introduced TurboTax Live, they don't have to be worried about being alone. They can touch a screen, have a CPA come right into the software and help them through the tax return," the CEO continued. "So we think this is going to be a huge catalyst for the category and for our company."
To watch Smith's full interview, which covers his company's most recent earnings report and future prospects, click here . Lightning round: Unjustified pain in GTT?
In Cramer's lightning round , he shared his rapid-fire take on callers' favorite stocks:
GTT Communications : "Nothing [is going on with GTT]. It's doing very well. I mean, honestly, I think it's doing incredibly well. I'm sorry that it went down so much after [CEO Rick Calder] was on, but they've got that low-infrastructure telecommunications model that's terrific. That's probably one of those stocks that's just going down for incorrect reasons. I'm not kidding. I like that business very much."
Caesar's Entertainment : "I was surprised to see that J.P. Morgan recommended that stock and they've got the best analysts in the group. I've always felt the balance sheet was bad, but maybe they've got some optionality. You know what? I like MGM . MGM's been stalled lately. At Caesar's, I can't pull the trigger because of that balance sheet, but I guess there's some mojo there."
Questions for Cramer? | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/24/cramer-remix-dont-let-this-buying-opportunity-pass-again.html |
China's Tencent plans culture deal with UK Wednesday, May 09, 2018 - 01:20
Chinese internet giant Tencent is planning a cultural trade deal with Britain, including film, video games and fashion, deepening cooperation between the two countries and setting the stage for its own international expansion moves. Dhruv Tikekar reports.
Chinese internet giant Tencent is planning a cultural trade deal with Britain, including film, video games and fashion, deepening cooperation between the two countries and setting the stage for its own international expansion moves. Dhruv Tikekar reports. //reut.rs/2KQe63s | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/09/chinas-tencent-plans-culture-deal-with-u?videoId=425228563 |
May 14 (Reuters) - Royal Nickel Corp:
* Q1 LOSS PER SHARE C$0.01 FROM CONTINUING OPERATIONS * BETA HUNT MINE’S STRATEGIC ALTERNATIVES PROCESS IS UNDERWAY
* STRATEGIC ALTERNATIVES PROCESS MAY RESULT IN A SALE OF ALL OR A PORTION OF BETA HUNT
* QTRLY REVENUES FROM CONTINUING OPERATIONS OF $6.3 MILLION WERE IN LINE WITH PRIOR YEAR AMOUNT OF $6.1 MILLION Source text for Eikon: Further company coverage: ([email protected])
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-royal-nickel-posts-cont-ops-loss-o/brief-royal-nickel-posts-cont-ops-loss-of-c0-01-per-share-idUSASC0A1WQ |
United Continental Holdings Inc. will resume shipments of dogs and cats in its cargo holds in July, after reviewing rules on pet transport following a dog’s death in an overhead bin in a passenger cabin.
United’s PetSafe program will now carry only certain breeds of cats and dogs in the cargo holds of its planes. United also said it will not fly animals to or from some airports, including Las Vegas, during the hot summer months.
... | ashraq/financial-news-articles | https://www.wsj.com/articles/united-to-allow-dogs-and-cats-back-into-cargo-holds-1525213690 |
May 18 (Reuters) - Biotherapeutics company CSL Ltd on Friday lifted its full-year profit guidance for a second time this year, thanks to better-than-expected product sales.
CSL now expects net profit after tax for fiscal 2018 in the range of about $1.68 billion to $1.71 billion, from an earlier forecast of $1.55 billion to $1.60 billion, it said in a statement. (Reporting by Chris Thomas in Bengaluru Editing by Leslie Adler)
| ashraq/financial-news-articles | https://www.reuters.com/article/csl-outlook/australias-csl-lifts-full-year-profit-outlook-idUSL3N1SO60C |
May 25, 2018 / 9:24 AM / Updated 15 minutes ago Oil weighs on FTSE, Kingfisher shines Julien Ponthus 4 A slump in oil prices hit British majors on Friday, limiting the gains of the FTSE 100 benchmark index while Kingfisher shone after Australia’s Wesfarmers ( WES.AX ) said it would sell rival UK home improvement chain Homebase. Traders looks at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson
The blue chip FTSE 100 .FTSE ended the day up 0.18 percent at 7,730.28 points but posted a weekly loss of 0.6 percent, breaking an eight-week run of gains.
“The move lower in the oil market on account of speculation that OPEC will raise output slightly has hit London-listed stocks like BP, Royal Dutch Shell and Tullow Oil,” said David Madden, an analyst at CMC Markets UK.
Index heavyweights BP ( BP.L ) and Royal Dutch Shell ( RDSa.L ) lost 2 percent and 1.5 percent respectively while Tullow Oil fell 4.1 percent.
Confirmation that Britain’s economy barely grew during the first quarter of 2018 added pressure to the pound on a five-month low as worries over Brexit continued to take their toll.
A lower sterling typically provides an accounting boost to UK companies who sell products or services in foreign currencies.
Kingfisher ( KGF.L ), Europe’s second largest home improvement retailer, was a top gainer, up 3.4 percent, as Wesfarmers’ sale of Homebase is expected to ease competition in the DIY sector.
Analysts at Jefferies said the sale constituted “very good news” for Kingfisher and its B&Q chain, which competes with Homebase.
“Today’s news should see B&Q’s biggest competitor become much more sensitive to short, and mid term, margin and cashflow challenges,” they argued.
Britain’s BT ( BT.L ) rose 3.3 percent. The group received informal interest from infrastructure funds keen to own a stake in its core fixed-line network, a person familiar with the matter told Reuters.
Royal Mail ( RMG.L ) shares sustained the heaviest losses, down 2.8 percent as broker Berenberg downgraded the stock to “sell” on increasing growth and profit risks.
It also noted that complying with new EU regulations to protect privacy may weigh on marketing activities.
AstraZeneca ( AZN.L ) rose 0.9 percent after its immunotherapy drug Imfinzi hit a second important goal by improving overall survival in lung cancer patients, boosting prospects for a medicine that has already got off to a promising commercial launch.
Among smaller companies, Gold miner Centamin ( CEY.L ) dropped about 18 percent after it made a drastic cut to its full-year production guidance while Capita ( CPI.L ) jumped 7.7 percent after it raised 681.4 million pounds through a rights issue.
Environmental infrastructure company Pennon Group added 7.6 percent after reporting its full-year profits. Gambling company GVC Holdings ( GVC.L ) was up 4.3 percent after it raised its forecast of cost savings from its 4 billion pound acquisition of Ladbrokes Coral. Reporting by Julien Ponthus; Editing by Alison Williams | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-britain-stocks/ftse-rebounds-kingfisher-jumps-as-homebase-changes-hands-idUKKCN1IQ12N |
April 30 (Reuters) - Malloupas & Papakostas:
* FY 2017 NET PROFIT EUR 58,333 VS LOSS 2.6 MLN YEAR AGO Source text : bit.ly/2KobaLp
Further company coverage: (Gdynia Newsroom)
| ashraq/financial-news-articles | https://www.reuters.com/article/idUSL8N1S72M0 |
Russia's Lavrov meets Kim Jong Un in North Korea 4:20pm IST - 01:16
Russian Foreign Minister Sergei Lavrov meets with North Korean leader Kim Jong Un in Pyongyang, and invites Kim to Moscow. No reporter narration.
Russian Foreign Minister Sergei Lavrov meets with North Korean leader Kim Jong Un in Pyongyang, and invites Kim to Moscow. No reporter narration. //reut.rs/2IYgEPX | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/31/russias-lavrov-meets-kim-jong-un-in-nort?videoId=431892531 |
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Artistmss International Group, Inc. (OTC Markets: AIGI) announced today that it has appointed Kenyatto (Ken) Jones as President, Chief Executive Officer, and a director of the Company effective immediately. Mr. Jones joins the Company as a seasoned executive with over a decade of corporate experience. Prior to coming to AIGI, he held high-level management positions with numerous companies in the direct sales and high-tech industries, including a three-year stint as Director of Operations for an international technologies firm. In that position, he oversaw virtually every aspect of the company’s operations, administration, customer service, and human resources, and worked closely with the company’s Executive Team, Board of Directors, and investment advisors. As a result of his prior business experience, Mr. Jones possesses a core competence and intimate understanding of many of the back-office commissioning engines currently being used in Home-Based Business / Direct Sales companies. These attributes and many others make him an ideal candidate to head up the Company’s operations as we introduce our newly-evolving business model, that of a diversified holding company focusing on investing in technology-oriented companies with innovative marketing and growth strategies.
Coinciding with the management change, the Company intends to move forward by updating its financial and disclosure reporting with OTC Markets, Inc. in order to attain “Current Information” status. In addition, the Company intends to effectuate, subject to approval by the Financial Industry Regulatory Authority (FINRA), a corporate action to change its name to RCoin Holdings, Inc.
About Artistmss International Group, Inc.
Artistmss International Group, Inc. is a diversified holding company focusing on investing in technology-oriented companies with innovative marketing and growth strategies. The company plans to start working with Blockchain and crypto currency companies around the world.
For additional information please contact [email protected] .
Precautionary and Forward-Looking Statements
The statements contained in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “intend,” “future,” “plan" or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the Securities Exchange Commission and/or OTC Markets, Inc. You are further cautioned that penny stocks and stocks of smaller companies like Artistmss International Group, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date thereof.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180521005674/en/
Artistmss International Group, Inc.
Investor Relations
Ken Jones, [email protected]
Source: Artistmss International Group, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/21/business-wire-artistmss-international-group-inc-announces-the-appointment-of-new-chief-executive-officer-and-change-of-business-model.html |
May 19, 2018 / 10:12 PM / Updated 5 hours ago Leicester sign Portugal defender Pereira Reuters Staff 1 Min Read
LONDON (Reuters) - Leicester City have signed Portugal full back Ricardo Pereira from Porto on a five-year contract, the Premier League club said on Saturday. Soccer Football - Champions League - Porto Press Conference - Vodafone Arena, Istanbul, Turkey - November 20, 2017 Porto's Ricardo Pereira during the press conference REUTERS/Osman Orsal
The 24-year-old, named in Portugal’s World Cup squad, has signed for a fee quoted by British media at about 22 million pounds ($30 million).
The move will be finalised when international clearance is granted on June 9.
The right back will be reunited with Leicester manager Claude Puel, for whom he played at French club Nice.
“The atmosphere, the fans and the football of the Premier League makes it the best in the world,” Pereira told the club’s television channel.
Leicester, surprise champions two years ago, finished ninth in the standings after an inconsistent campaign. Reporting by Neville Dalton, editing by Ed Osmond | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-england-lei-pereira/leicester-sign-portugal-defender-pereira-idUKKCN1IK0VD |
LONDON, May 18 (Reuters) - British foreign minister Boris Johnson called on parties to the international Chemical Weapons Convention to meet in June and agree ways to strengthen the agreement in the face of recent uses of banned weapons.
“We join our partners today in calling for a special session of Conference of States Parties to the Chemical Weapons Convention in June to agree action to support the Convention and its implementing body, the OPCW (Organisation for the Prohibition of Chemical Weapons),” Johnson said in a statement.
“Together, we will ensure that the global ban on chemical weapons and their use is upheld and enforced.”
Reporting by William James; editing by Stephen Addison
| ashraq/financial-news-articles | https://www.reuters.com/article/chemicalweapons-opcw-britain/britain-calls-for-meeting-to-strengthen-resolve-against-chemical-weapons-idUSL5N1SP4JW |
Scientists look to chart world's ocean floor by 2030 11:09am EDT - 02:06
Using data collected from underwater drones, merchant ships, fishing boats and even explorers, a new scientific project aims to map out the ocean floor by 2030 and solve one of the world's enduring mysteries. Stuart McDill reports. ▲ Hide Transcript ▶ View Transcript
Using data collected from underwater drones, merchant ships, fishing boats and even explorers, a new scientific project aims to map out the ocean floor by 2030 and solve one of the world's enduring mysteries. Stuart McDill reports. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2KKAeeQ | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/22/scientists-look-to-chart-worlds-ocean-fl?videoId=429338001 |
NEW YORK--(BUSINESS WIRE)-- Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology, announced today that it has acquired Aspirion Health Resources, a tech-enabled revenue cycle management company helping hospitals navigate less common sources of health coverage. Aquiline’s investment will support Aspirion’s growth, enabling the company to further expand the complex claims solutions it offers health systems nationwide.
Founded in 2012, Aspirion provides a combination of expertise, process and technology to help healthcare providers maximize recoveries from traditionally hard to settle claims. These complex claims involve payers beyond the major commercial and government health plans and require a disproportionate amount of resources for a medical provider. Using its proprietary claims management system and a full suite of legal resources, Aspirion’s well-trained team works closely with hospital billing staff to optimize reimbursement of motor vehicle accident, Veterans Administration, and workers’ compensation claims. Aspirion’s clients are located across the continental U.S. and range from regional hospitals and physician groups to large, multistate health systems.
“We have long viewed healthcare as a natural extension of Aquiline’s established expertise in the insurance, billing, and payments industries,” stated Jeff Greenberg, Chairman and CEO of Aquiline. “Given Aspirion’s focus on payments from property and casualty payers, we are excited to leverage our deep experience with these payers to help Aspirion meet healthcare providers’ toughest revenue challenges, and we see significant opportunities to create growth.”
The management team is led by Lori Lipocky, CEO of Aspirion. Additionally, Aquiline announced the appointment of Michael O’Boyle as Executive Chairman. Michael brings more than 20 years of leadership experience across healthcare services organizations including The Cleveland Clinic, United Healthcare, and Parallon.
“I look forward to helping Aspirion pursue several exciting growth initiatives as well as an acquisition strategy to further cement its position as a leader in the complex claims RCM market,” commented O’Boyle.
“With provider margins under increasing pressure, Aspirion plays a vital role in managing key payer relationships for our customers,” said Lipocky. “Aquiline, with its experience across both the insurance and payments markets, is the natural partner to help take Aspirion to the next stage of its growth.”
About Aspirion Health Resources
Aspirion helps hospitals and physicians recover otherwise lost claims revenue from motor vehicle accidents, workers’ compensation, the Veterans Administration, and Tricare, as well as underpayments and denials. Aspirion’s experienced team of legal professionals and claims analysts helps ensure that providers receive the revenue rightly due to them on complex claims so that hospitals and their staff can focus on patient care.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York investing in businesses globally across financial services and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180531005337/en/
Media Contacts
Brunswick Group
Alex Yankus / Harry Mayfield
212-333-3810
[email protected]
Source: Aquiline Capital Partners | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/business-wire-aquiline-capital-partners-acquires-aspirion-health-resources.html |
LONDON (Reuters) - A legal case to dissolve a Glencore ( GLEN.L ) mining subsidiary in the Democratic Republic of Congo has been suspended pending a decision by the Supreme Court, the mining giant said on Tuesday.
Congo’s state miner Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming Glencore for high debts that have weighed on the mine for more than 10 years.
The temporary suspension comes after the Supreme Court said it would allow KCC to challenge the competency of the local Kolwezi court that was leading the dissolution. The first hearing of the Supreme Court is on June 15.
“The Kolwezi Court concluded today that the previously scheduled Capital Deficiency Proceedings should be suspended until after the Supreme Court renders its decision,” Glencore said in a statement.
(This story corrects headline to show suspension came from local court not Supreme Court)
Reporting by Zandi Shabalala and Julia Payne; Editing by David Goodman
| ashraq/financial-news-articles | https://www.reuters.com/article/us-glencore-congo-court/congo-court-temporarily-suspends-dissolution-of-glencore-unit-idUSKBN1I924E |
May 18 (Reuters) - Canada’s main stock index was trading flat on Friday as a rise in healthcare stocks offset a drop in financial shares after inflation data lifted expectations the central bank will hold interest rates steady later this month.
* At 10:19 a.m. ET (1419 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 4.4 points, or 0.03 percent, at 16,139.15.
* Canadian inflation cooled slightly in April, Statistics Canada said, dampening prospects of another Bank of Canada interest rate hike as early as this month and weakening the Canadian dollar.
* The financials sector slipped 0.3 percent, weighed down by a 1.3 percent drop in Royal Bank of Canada and Bank of Nova Scotia’s 0.8 percent decline.
* Seven of the index’s eleven major sectors were higher, led by the healthcare sector’s 2.85 percent jump.
* Transportation and auto-related stocks fell after U.S. Trade Representative Robert Lighthizer said “the NAFTA countries are nowhere near close to a deal.”
* Statistics Canada data showed Canadian retail sales rose by the most in five months in March, driven by higher spending on vehicles and clothing.
* On the TSX, 147 issues were higher, while 84 issues declined for a 1.75-to-1 ratio favoring gainers, with 10.85 million shares traded.
* The largest advancers on the exchange were cannabis firms, with Aurora Cannabis rising 5.3 percent, Canopy Growth 4.8 percent and Aphria Inc 4.7 percent.
* Prometic Life Sciences fell 2.7 percent, the most on the TSX, followed by Element Fleet Management’s 2.5 percent decline.
* The most heavily traded shares by volume were Aurora Cannabis, Neovasc Inc and Canopy Growth.
* The TSX posted five new 52-week highs and no new lows.
* Across all Canadian issues there were twelve new 52-week highs and eight new lows, with total volume of 18.27 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)
| ashraq/financial-news-articles | https://www.reuters.com/article/canada-stocks/canada-stocks-tsx-flat-as-health-stocks-offset-losses-in-financials-idUSL3N1SP4M8 |
May 26, 2018 / 1:19 PM / Updated 7 hours ago Give Serena Williams time to find top form, says Clijsters Simon Cambers 3 Min Read
PARIS (Reuters) - Former world number one Kim Clijsters believes Serena Williams will get back to the top, but warned it may take time for her to regain full strength after childbirth. FILE PHOTO: Tennis - French Open Womens Singles Semifinal match - Roland Garros - Serena Williams of the U.S. vs Kiki Bertens of the Netherlands - Paris, France - 03/06/16. Serena Williams reacts. REUTERS/Benoit Tessier Picture Supplied by Action Images/File Photo
Williams will play her first Grand Slam for more than 15 months at the French Open after having her daughter, Alexis Olympia. She has played just two events since she first returned to the Tour in March.
“Pregnancy is very hard to (come back from),” Clijsters told Reuters in an interview. “Everything is a lot looser, it takes time to get that back to where it once was.
“I remember doing an interview when Serena was pregnant and people were asking me constantly, do you think she can do it? My thing was, you don’t know how your body will react, how you will react emotionally.
“I admire both Serena and Venus because they have a perseverance that is incredible. They’re able to do a lot of things that other people can’t do, physically and mentally, so I don’t doubt that she will come back, I don’t doubt it, but it just takes a little bit of time.”
Clijsters, who is working as an expert summariser for Eurosport and Eurosport Player, who will be broadcasting Roland Garros from May 27 to June 10, retired from tennis in 2007.
She returned to the sport in 2009, a year and a half after having her first child, Jada.
Then 26, Clijsters enjoyed a hugely successful return, winning the U.S. Open in just her third event back and then going on to win two more Grand Slams to take her career tally to four. FILE PHOTO: Belgium's Kim Clijsters waves as she arrives to play an exhibition tennis match against Venus Williams of the U.S., marking the end of Clijsters' professional career in Antwerp December 12, 2012. REUTERS/Francois Lenoir
Williams has been working hard with her coach, Patrick Mouratoglou, at his academy near Nice, balancing her training regime with her new family life.
Clijsters said getting back into the old routine may have had a rejuvenating effect on Williams.
“Every body reacts differently,” she said, of the physical demands.
“Having a baby is emotional and physically very draining – at times you’re on a high, at times you’re low.
“I fell in love all over again with the sport and I enjoyed taking those few hours off from home to go and work out and play tennis, because I needed it, for various reasons, not just because I wanted to get back into shape.
“I’d just lost my father at the start of 2009 and for me it was a mindset, to get away from it and just focus on tennis. Then I would come home, I’d be with Jada, we’d do family things and I felt like my balance was good and I needed it.”
Williams will play Kristyna Pliskova of the Czech Republic in the first round in Paris and could face her old foe, Maria Sharapova, in the last 16. Editing by Toby Davis | ashraq/financial-news-articles | https://www.reuters.com/article/us-tennis-frenchopen-serena/give-serena-williams-time-to-find-top-form-says-clijsters-idUSKCN1IR0EN |
BEIJING (Reuters) - Chinese Premier Li Keqiang said on Monday that China will study new measures to attract foreign investment and will revise a negative list for foreign investment as soon as possible, state radio reported on Tuesday.
FILE PHOTO: Chinese Premier Li Keqiang gives a speech during an event to celebrate the 40th anniversary of a peace and friendship treaty between China and Japan in Tokyo, Japan, May 10, 2018. REUTERS/Kim Kyung-Hoon China will lower market barriers to entry and improve intellectual property rights protection, Li said in visits to the Ministry of Commerce and General Administration of Customs on Monday.
Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong
| ashraq/financial-news-articles | https://www.reuters.com/article/us-china-economy-fdi/china-to-study-new-measures-to-draw-foreign-investment-premier-li-idUSKCN1IN1BS |
April 30 (Reuters) - Celanese Corp:
* CELANESE INITIATES EXPANSION PROGRAM OF POM PRODUCTION ASSETS
* CELANESE CORP - PHASE I OF DEBOTTLENECKING PROJECT IS EXPECTED TO BE COMPLETED IN 2020, AND PHASE II OF PROJECT WILL BE COMPLETED SHORTLY THEREAFTER Source text for Eikon: Further company coverage: ([email protected])
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-celanese-initiates-expansion-progr/brief-celanese-initiates-expansion-program-of-pom-production-assets-idUSFWN1S71AT |
Model Bella Hadid mulls acting future Thursday, May 10, 2018 - 01:38 Thu, 10 May, 2018 - (4:25) Featured Videos Thu, 23 Nov, 2017 - (2:18) Follow Reuters: Reuters Plus | Reuters News Agency | Brand Attribution Guidelines | Careers
Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/10/model-bella-hadid-mulls-acting-future?videoId=425670483 |
May 24, 2018 / 2:40 PM / Updated an hour ago Brazilian F-5 fighter crashes near Rio, pilots eject Reuters Staff 2 Min Read
RIO DE JANEIRO (Reuters) - A Brazilian Air Force F-5 fighter jet crashed in the Rio de Janeiro metropolitan area shortly after takeoff on Thursday, but the two pilots ejected before the aircraft plummeted into a field, the Air Force said.
The refurbished fighter ran into trouble shortly after departing the Santa Cruz Air Force base west of Rio de Janeiro on a training flight, according to an Air Force statement. It said the jet crashed in an uninhabited area and no one was hurt on the ground.
The pilot and co-pilot of the twin-jet fighter were picked up and taken to the hospital for exams, as investigators inspected the crash site to find out what caused the accident, the Air Force said on Twitter.
The F-5 built by Northrop was first designed for use by the United States in the Korean war in the mid-1950s to face Russian Mig-15s. Brazil bought around 60 of the fighters in the 1970s and 1980s.
The refurbished F-5s have been the mainstay of the Brazilian Air Force since it retired its Mirage 2000s in 2013. It has been awaiting delivery of 36 Gripens from Sweden’s Saab AB. Reporting by Rodrigo Viga Gaier; Writing and additional reporting by Anthony Boadle; Editing by Chizu Nomiyama and David Gregorio | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-brazil-fighter/brazilian-f-5-fighter-crashes-near-rio-pilots-eject-idUKKCN1IP2G1 |
- Planned to purchase and retire treasury stock worth 600 billion won
Retiring all existing ordinary shares that can retire worth 400 billion won next year Purchasing and retiring treasury shares worth 187.5 billion won for 3 years
- Paying 1/3 of annual dividend amount as quarterly dividend from next year in order to facilitate cash flow of shareholders
- Setting the operating margin for core auto components /future business for 2025 to 10%
- Assembling a dedicated team to effectively driving transparent management on July 1
SEOUL, South Korea--(BUSINESS WIRE)-- Hyundai Mobis (KRX:012330) announced a detailed plan for improving actual shareholder value. The three shareholder-friendly policies the company announced include retirement of treasury stock, quarterly dividends payment and mid- and long-term profit goals.
Retiring treasury stock worth 587.5 billion won
At the special board of directors meeting held on 2nd, Hyundai Mobis resolved to retire all of the ordinary shares it acquired and holds within the range of profit available for dividends in next year and additionally purchase and retire ordinary shares worth 187.5 billion won for three years from next year.
The 2.04 million treasury shares the company acquired and holds within the range of profit available for dividends will be adjusted to 1.61 million shares as per the division ratio (*0.79) after the division-merger, although it could vary depending on changes in book value or share price, and based on the current share price (248,000 won as of Apr. 30), it is estimated to be worth approximately 400 billion won. Adding 187.5 billion won from the expected additional purchase and retirement for 3 years to this will increase the amount to approximately 600 billion won.
Similarly, the volume simply converted based on the current share price is expected to reach a total of 2.37 million shares consisting of the existing 1.61 million ordinary shares (2.04 million before division) and 0.76 million shares to be additionally purchased and retired. This corresponds to 3.1% of the total number of shares issued after division, with EPS and DPS increasing by about 3.1% respectively.
In addition to the 2.04 million treasury shares currently held, the company plans to purchase and retire additional treasury shares worth 187.5 billion won over three years from next year, with 62.5 billion won to be retired each year.
"We intend to utilize a reduction in dividends caused by the decrease in the total number of shares issued after division to purchase and retire treasury shares to improve shareholder values," said a source from Hyundai Mobis. "We will start this from next year and review the result after 3 years."
This marks the first time for Hyundai Mobis to retire its ordinary shares after it retired 0.85 million shares in 2003. Aside from this, the company had retired 21,484 preferred shares in 2014.
Paying 1/3 of annual dividend amount as quarterly dividend from next year
To improve the cash flow of shareholders, Hyundai Mobis decided to pay quarterly dividends once a year from next year. This means the company will execute about 1/3 of annual dividends amount prior to the existing dividend date.
The company will execute a quarterly dividend for the half year every year from 2019. As a result, Hyundai Mobis shareholders are expected to see improved stability of their dividend cash flow.
Meanwhile, in February, Hyundai Mobis had promised that it would return profits to its shareholders with a dividend policy at the level of 20% to 40% of free cash flow, and when there is any significant reduction or rise in dividends due to any major change in business environment, it would disclose the cause.
"We decided to retire treasury shares and execute quarterly dividend this time as part of our efforts we had continuously made to elevate shareholder values," said a source from Hyundai Mobis. "We will continue to strengthen our investor confidence through various policies for returning profits to shareholders based on our improved performance."
Hyundai Mobis has continuously implemented various shareholder-friendly policies. In March last year, the company assembled Transparent Management Committee, an organization designed to protect shareholder rights in its board of directors, appointing an outside director responsible for protecting shareholder rights. From the year 2020 when the outside director's term will end, the company will receive recommendations for the position from shareholders at home and abroad.
It will also consider the expertise, experience and nationality of candidates when appointing outside directors, thereby improving diversity. This is why it decided to appoint professor Sunwoo Myungho from Hanyang University, who is the world's foremost authority on autonomous driving, at the general meeting of shareholders scheduled on May 29th. By appointing him, Hyundai Mobis will have a pool of outside directors covering not only fair trading, business strategy and finance but also future technology research.
To effectively and proactively respond to shareholders' demand for more transparent management, the company also decided to assemble Transparent Management Support Team, a dedicated organization for the purpose, on July 1st. Led by this team, the company will establish and implement various compliance policies for compliance management and provide enterprise-wide training.
Presenting mid- and long-term profit goals… Operating margin of 10% by 2025
On this day, Hyundai Mobis also announced its updated mid- and long-term vision that was added with mid- and long-term profit goals. This new vision includes the company's plan to increase the operating margin for core auto components and future business divisions to 10% by 2025 in stages.
It also includes a specific goal of winning more contracts for future core auto components based on profitability rather than external growth and thereby reducing the ratio of materials to 60% or below. To attain this goal, Hyundai Mobis will strive to maximize its design improvement capability and production efficiency.
Based on this, the company aims to expand its R&D investment to 10% of the sales for core auto components and future business, focusing on development of future advanced technologies.
Earlier, Hyundai Mobis had announced its mid- and long-term vision of achieving CAGR of 8%, thereby increasing its sales from this year's 25 trillion won to 36 trillion won by 2022 and 44 trillion won by 2025.
This mid- and long term vision contains the company's commitment to becoming a future new technology company based on its capabilities for core auto components and system integration through 'selection and concentration'.
Meanwhile, having promoted the division and merger with Hyundai Glovis as part of Hyundai Motor Group's restructuring, Hyundai Mobis has continuously explained about the meaning of the division and merger and the appropriateness of the merger ratio to its domestic and foreign investors. From now, the company will communicate with its investors, focusing on future values, including its long-term vision, and its shareholder-friendly policies.
As part of such efforts, Hyundai Mobis is going to meet with major domestic institutional investors for 2 to 4 days and also hold NDR (Non-Deal Roadshow) for major foreign institutional investors in USA (May 7 to 9), Europe (May 7 to 10) and Asia (May 2 to 4).
View source version on businesswire.com : https://www.businesswire.com/news/home/20180502006985/en/
Hyundai Mobis
Choon Kee Hwang, +82-2-2018-5519
[email protected]
Source: Hyundai Mobis Co., Ltd. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/business-wire-hyundai-mobis-announces-three-shareholder-friendly-policiesretirement-of-shares-600-billion-won-quarterly-dividends-13-of.html |
May 25 (Reuters) - Foot Locker Inc on Friday posted first-quarter results that topped analysts’ estimates, as partnerships with top vendors brought in more customers, sending its shares up 13 percent in premarket trade.
Sales at stores open at least a year fell 2.8 percent, smaller than the decline of 3.6 percent analysts were expecting, according to Consensus Metrix.
Net sales at the retailer, which sells Nike Inc, Reebok and Adidas AG sneakers, rose 1.2 percent to $2.03 billion in the quarter, beating expectations of $1.96 billion.
“The flow of premium product continues to improve, with increasing breadth and depth in the most sought after styles from our key vendors,” Chief Executive Officer Richard Johnson said in a statement.
The company’s income fell to $165 million, or $1.38 per share in the three months ended May 5, from $180 million, or $1.36 per share, a year earlier.
Excluding items, the company earned $1.45 per share, beating the analysts’ average estimate of $1.25, according to Thomson Reuters I/B/E/S.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Bernard Orr
| ashraq/financial-news-articles | https://www.reuters.com/article/footlocker-results/foot-locker-quarterly-results-top-estimates-shares-surge-idUSL3N1SW468 |
MINNEAPOLIS, May 02, 2018 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE:INSP) (“Inspire”), a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea, announced today the pricing of its initial public offering of 6,750,000 shares of its common stock at a public offering price of $16.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Inspire. In addition, Inspire has granted the underwriters a 30-day option to purchase up to 1,012,500 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on May 3, 2018 under the ticker symbol “INSP.” The offering is expected to close on May 7, 2018, subject to customary closing conditions.
BofA Merrill Lynch and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. Guggenheim Securities, Stifel and Wells Fargo Securities are acting as co-managers for the offering.
A registration statement relating to these securities has been filed and was declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or via email: [email protected] ; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected] .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Inspire Medical Systems
Inspire is a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea. Inspire Medical Systems’ proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
Inspire Investor and Media Contact
Bob Yedid
LifeSci Advisors
[email protected]
646-597-6989
Source:Inspire Medical Systems, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/globe-newswire-inspire-medical-systems-inc-announces-pricing-of-initial-public-offering.html |
MANILA (Reuters) - The Philippine Supreme Court voted on Friday to remove its top judge, whom President Rodrigo Duterte called an “enemy” for voting against controversial government proposals, citing violations in the way she was appointed.
One opposition party said the ouster of Maria Lourdes Sereno, the country’s first woman chief justice, removed a shield against abuse of power in government and left behind a “puppet Supreme Court”.
By a vote of 8-6, the court granted the government’s petition to cancel Sereno’s appointment on the grounds of alleged violations in the appointment process.
“Maria Lourdes Sereno is found disqualified from, and hereby adjudged guilty of unlawfully holding and exercising, the office of the chief justice,” said court spokesman Theodore Te, who read out the decision.
Sereno is the first chief justice to be removed by her peers and the second top judge to lose the position after her predecessor was impeached for non-disclosure of wealth.
The court declared Sereno’s position vacant with immediate effect and ordered the judicial and bar council to begin a new selection process, Te said.
It gave Sereno a deadline of 10 days after receiving a copy of its decision to explain why she should not be sanctioned for a number of alleged violations, such as “casting aspersions and ill-motive to the members of the Supreme Court”.
Sereno has denied any wrongdoing, and her spokesman said she would appeal the decision. “It is a sad day,” Jojo Lacanilao said in a television interview.
An hour after the decision, Sereno emerged from her office and urged her supporters to “defend the constitution and fight wrongdoing”.
“Let’s continue to spread the message of democracy and reason,” she said.
Ousted Philippine Supreme Court Justice Maria Lourdes Sereno speaks to supporters at a rally outside the Supreme Court building on Taft Avenue, metro Manila, Philippines May 11, 2018. REUTERS/Dondi Tawatao Duterte’s lawyer Salvador Panelo and government spokesman Harry Roque issued separate statements asking the public to respect the ruling.
The scene outside the court in Manila was calm after the ruling. Crowds of supporters and opponents of Sereno had gathered outside the building before the ruling.
Opposition politicians denounced Sereno’s removal.
Senator Risa Hontiveros called it “a direct stab to the heart of our Constitution”, while her Akbayan party said the country was “a heartbeat away” from the death of its democracy.
“After having a lapdog Congress and a seriously wounded Senate, we now have a puppet Supreme Court,” the party said in a statement.
Duterte has made no secret of his dislike of Sereno.
She voted against several of his proposals, such as extending martial law on a restive island and allowing late dictator Ferdinand Marcos to be buried in a cemetery for national heroes.
In October last year, Duterte dared Sereno to open her bank account to public scrutiny, accusing her of corruption and of being used by his political opponents.
Slideshow (3 Images) Friday’s decision came before Congress, controlled by Duterte’s allies, returns from its Easter break next week to vote on an impeachment complaint against Sereno.
Additional Reporting by Neil Jerome Morales; Editing by Darren Schuettler
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/us-philippines-judiciary/philippine-supreme-court-removes-duterte-enemy-judge-idUSKBN1IC0EM |
Southwest Airlines has apologized to the Cal women's basketball coach Lindsay Gottlieb after she claimed an airline employee stopped her from boarding because the worker didn't believe her 1-year-old biracial son was hers.
Gottlieb tweeted that a desk agent wouldn't let her on a flight from Denver to Oakland Sunday because her son had a different last name. However, the coach from the University of California, Berkeley said she believed it was "because he has a different skin color." Gottlieb was travelling with her fiance, Patrick Martin, the boy's father, who is black.
@CalCoachG tweet
@CalCoachG tweet
Airlines aren't required to match the last name of a child and guardian for domestic flights.
Southwest said Tuesday it reached out to Gottlieb.
Gottlieb says she appreciates the apology. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/30/southwest-airline-pushes-woman-for-proof-biracial-child-was-her-son.html |
Shari Redstone makes concessions on Viacom CEO to clinch CBS merger 2 Hours Ago CNBC's Jackie DeAngelis reports on concessions by Shari Redstone that could lead to a merger between Viacom and CBS. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/04/shari-redstone-makes-concessions-on-viacom-ceo-to-clinch-cbs-merger.html |
WASHINGTON (Reuters) - A bill aimed at tightening oversight of foreign investment in the United States because of concern about China’s acquisition of critical technology is headed for a vote this month in the U.S. Senate Banking Committee, the panel said on Friday.
The committee also released draft proposals that will be voted on to amend the bill, which was introduced last November by Senator John Cornyn.
Proposed changes to the measure appear aimed largely at blunting opposition from high tech companies and investment firms, which had worried that even innocuous transactions would be subject to extended reviews by the Committee on Foreign Investment in the United States, or CFIUS.
CFIUS is an inter-agency panel led by the Treasury Department that assesses potential foreign investment to ensure it does not harm national security.
The bill in the Senate, and a companion measure in the U.S. House of Representatives, would broaden CFIUS’ reach in hopes of reining in China’s acquisition of U.S. high tech knowledge even as China has sought to focus on production of higher-value goods, like robots, computers and telecommunications equipment.
The bipartisan legislation has the support of President Donald Trump’s administration.
The new version eliminates a measure which some tech companies complained would force them to go to CFIUS to get approval for technology sales if they involved intellectual property licensing and support.
The draft also spells out that an investment can be deemed passive, and not subject to CFIUS oversight, if foreign investors have no access to non-public technical information or rights to be on the board of directors of a U.S. critical infrastructure company.
The proposed changes include noting specifically that CFIUS could consider in its national security review if a deal would potentially expose sensitive data about U.S. citizens, including genetic information.
Cornyn supports the proposed changes.
“As China has increasingly weaponised investment, it’s a national security imperative to strengthen the interagency review process to safeguard military and dual-use technology and know-how,” he said in a statement that accompanied the release of the proposed changes.
The panel has killed a long list of deals, including a plan for Chinese conglomerate HNA Group to buy most of SkyBridge Capital, a hedge fund investment firm founded by Trump’s former aide Anthony Scaramucci.
Reporting by Diane Bartz; Editing by Tom Brown
| ashraq/financial-news-articles | https://in.reuters.com/article/usa-cfius-congress/foreign-investment-bill-targeting-china-heads-for-u-s-senate-panel-vote-idINKBN1IC2NQ |
BERLIN (Reuters) - Germany’s government will help German firms with business in Iran where it can, but cannot entirely shield them from the U.S. decision to quit the Iran nuclear deal and reimpose sanctions against Tehran, the economy minister told a newspaper.
German Economic Minister Peter Altmaier delivers a statement regarding the Trump Administration's steel and aluminum tariffs outside of the White House in Washington, U.S., March 19, 2018. REUTERS/ Leah Millis European companies conducting business in Iran face U.S. sanctions after President Donald Trump withdrew from the 2015 nuclear accord between six major powers and Iran. EU officials say there is no easy way to protect EU firms and banks from the extraterritorial nature of the U.S. sanctions.
Asked how the German government could assist German firms feeling nervous in the wake of the U.S. decision, Altmaier told the Passauer Neue Presse newspaper that Berlin would help them assess the situation and developments while also urging the U.S. to grant exemptions and deadline extensions.
“We will help where we can, but there is no way of completely averting the consequences of this unilateral withdrawal,” he said.
German Foreign Minister Heiko Maas will meet in Washington on Tuesday with U.S. Secretary of State Mike Pompeo, who has demanded that Iran make sweeping changes or face “the strongest sanctions in history.”
Underlining the growing divide with Tehran, a senior commander from Iran’s Revolutionary Guards poured scorn on Pompeo’s threat on Tuesday, saying Iran’s people would respond by punching the Secretary of State in the mouth.
Michael Gahler, a German conservative in the European Parliament, warned that Washington’s get-tough approach would only further strengthen the position of hardliners in Tehran, while doing little to improve Israel’s security.
“U.S. industry also had no interest in seeing contacts with us worsened indirectly via the policies directed at Iran,” Gahler told broadcaster Deutschlandfunk.
Turning to the U.S. decision to impose import duties of 25 percent on steel and 10 percent on aluminum - from which European Union countries have been exempted until June 1 - Altmaier said Europe was in favor of free trade and wanted tariffs to be reduced, not raised:
“When tariffs are increased, it’s the citizens who foot the bill and, if goods become more expensive, jobs are jeopardized.”
He said there would be no winner in a tariff or trade war, adding: “If you fight fire with fire, all you’re left with is scorched earth. And it would be the consumers who suffer. That would be fatal and that’s why I’m fighting for free trade and our jobs with all of my might.”
RUSSIA AND EUROPE Altmaier said a sharp cooling of the relationship between the European Union and Russia in recent years and a downturn in trading had hit millions of people in Europe.
“We’ll talk to the new Russian government about how, despite sanctions and punitive tariffs, an economic exchange can be developed that leads to new economic dynamism,” Altmaier said.
“Of course, that doesn’t get rid of the political differences. It would be wrong to lift the EU sanctions against Russia at the moment because the reasons that led to them haven’t changed yet,” he added.
Asked about French President Emmanuel Macron’s comment this month that Germany needed to wean itself off the “fetish of fiscal conservatism” to become a leading force for European renewal, Altmaier said Germany was prepared to invest in Europe, bring about reforms and strengthen Europe.
He said Germany had found that sticking to a balanced budget had resulted in more prosperity and financial wiggle room, and meant it could invest more.
Reporting by Michelle Martin and Andrea Shalal; Editing by Kevin Liffey and Andrew Heavens
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/us-germany-economy-minister/german-firms-cant-be-totally-shielded-from-u-s-iran-move-minister-idUSKCN1IN001 |
TORONTO, May 03, 2018 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL) (OTC PINK:PALDF) today announced the financial and operational results for the three months ended March 31, 2018.
Q1 2018 Results Summary
Adjusted EBITDA 1 for the first quarter of 2018 was $28.4 million compared to $6.8 million for the same period in 2017. Net income was $5.6 million this quarter compared to a net loss of $3.8 million for the same period in 2017. Underground production was 569,468 tonnes (6,327 tonnes per day) at an average grade of 3.3 grams per tonne compared to 363,136 tonnes (4,035 tonnes per day) at an average grade of 4.4 grams per tonne in the first quarter of 2017. Initial production commenced from the Sheriff Pit this quarter and totaled 127,940 tonnes at a grade of 1.27 grams per tonne. Underground mining cost per tonne in the first quarter decreased to $39 compared to $56 in the same period in 2017. Total tonnes milled increased to 1,021,147 in the quarter compared to 458,382 tonnes in the first quarter of 2017, reflecting the return to full-time milling, supplemented by increased underground production, Sheriff Pit ore and additional surface stockpile tonnage. The Company produced 57,053 ounces of payable palladium at an All-Inclusive Sustaining Cost 1 ("AISC") of US$709 per ounce compared to 40,252 ounces of palladium in 2017 at an AISC of US$765.
"Our operational and financial key performance indicators improved significantly this quarter compared to this time last year. Underground production has become consistent, reliable and predictable, and should continue to gradually increase this year as we bring more of the lower grade reserves in the upper part of the mine back into production. This quarter we began initial production from the Sheriff Pit, which is expected to produce higher grade material in the second half of the year. Total mill throughput also continued to increase this quarter. All of this indicates further performance improvements throughout 2018,” said Jim Gallagher, President and CEO of North American Palladium.
“The recently announced drill results from our Lac des Iles and regional exploration programs highlight the quality and quantity of targets generated from our extensive property holdings. In addition, we recently commenced resource delineation drilling of the Offset South zone, which is our most immediate opportunity to add to the Lac des Iles mineral inventory. We are also seeing positive results from our Greenfields exploration efforts that remain focused on the discovery of another Lac des Iles-type palladium deposit.”
“Palladium prices have shown good resilience to recent financial market volatility driven by trade and sanction concerns. The continuing strength in palladium prices reflects the fundamental supply deficit that still exists, with growing automotive demand and flat global supply,” continued Mr. Gallagher.
Operating Highlights Three months ended March 31, 2018 2017 Ore mined (tonnes) Underground 569,468 363,136 Surface (stockpile and open pit) 480,916 77,600 Total 1,050,384 440,736 Mined ore grade (Pd g/t) Underground 3.3 4.4 Surface 1.0 1.0 Milling Tonnes milled (dry metric tonnes) 1,021,147 458,382 Palladium recoveries (%) 79.9 82.6 Palladium concentrate grade (g/t) 263 295 Tonnes of concentrate produced 7,162 4,496 Production cost per tonne milled 1 $ 47 $ 70 Payable production Palladium – ounces 57,053 40,252 Other results 1 Underground cost per tonne mined $ 39 $ 56 AISC per ounce of palladium produced (US$) 1 $ 709 $ 765 Cash cost per ounce of palladium sold, net of by-product revenues (US$) 1 $ 567 $ 627 Financial Highlights Three months ended March 31, (expressed in millions of Canadian dollars) 2018 2017 Revenue $ 86.6 $ 44.3 Smelting, Refining, Freight and Royalty 3.9 2.1 Royalty Expense 3.6 2.2 Net Revenue 79.1 40.0 Operating Expenses Production Cost Mining 30.1 23.9 Milling 12.3 6.8 General and Administration 6.1 5.9 Inventory and Other Cost (0.1 ) (4.7 ) Total Production Costs 48.4 31.9 Depreciation and Amortization 12.0 8.1 Inventory price adjustment - (0.2 ) Loss on disposal of equipment 0.10 0.1 Total Mining Operating Expenses 60.5 39.9 Income (loss) from Mining Operations $ 18.6 $ 0.1 Net Income (loss) $ 5.6 $ (3.8 ) Net Income (loss) per share $ 0.1 $ (0.07 ) Adjusted EBITDA 1 $ 28.4 $ 6.8 Capital Investment, Excluding Non-Cash Leases $ 12.5 $ 16.3 Adjusted EBITDA 1 for the quarter was $28.4 million compared to $6.8 million in the first quarter of 2017. Net income for the quarter was $5.6 million compared to a loss of $3.8 million in 2017. Revenue for the quarter was $86.6 million compared to $44.3 million in the first quarter of 2017. The higher revenue in the quarter was primarily due to an increase in palladium prices and payable palladium sold.
Total production cost for the quarter before inventory and other cost adjustments was $48.5 million ($47 per tonne milled) compared to $36.6 million ($80 per tonne milled) in the first quarter of 2017. Cash provided by operations prior to changes in non-cash working capital for the quarter was $23.8 million compared to $6.3 million for the same period in 2017.
The AISC per ounce of palladium produced decreased to US$709 per ounce for the quarter, compared to US$765 per ounce in the first quarter of 2017. Sustaining capital expenditures in the first quarter were $8.6 compared to $7.0 in 2017. Cash costs for the quarter were US$567 per ounce sold, compared to US$627 per ounce sold in Q1 2017.
Financial Liquidity
As at March 31, 2018, the Company had cash and cash equivalents of $20.7 million compared to $18.1 million for the same period in 2017. During the quarter, the Company extended the term of its US$60 million credit facility to December 31, 2018. At quarter end, the Company had total debt of $102.9 million compared to $123.3 million for the same period of 2017. As at April 15, 2018, the Company had credit available of US$14 million under the Company’s credit facility.
Exploration
Exploration expenditures were $3.8 million for the quarter, compared to $0.5 million for the same period in 2017. The increased costs are attributable to an increase in greenfields exploration and drilling activity at the recently acquired Sunday Lake project.
A total of 14,067 metres of drilling was completed in the quarter. This includes 6,264 metres of underground and surface drilling at Lac des Iles mine (“LDI”), 5,582 metres of drilling at the Sunday Lake project and 2,221 metres of drilling at the Legris Lake project. Results from these programs were announced in the Company’s March 27, 2018 , April 3, 2018 and April 5, 2018 news releases.
In the second quarter, the Company plans to complete resource definition and conversion drilling on the Offset South zone. Additional drilling programs at LDI will test underground targets near the Offset zone and near surface targets in the eastern part of the mine property. NAP expects to provide an update to its LDI mineral resource estimate later this year. Preparations are ongoing for a several month field program of trenching, mapping, geophysical surveying and surface prospecting on selected greenfields properties.
Further updates on exploration activities will be provided as significant, new results become available.
Outlook
The Company's previously stated 2018 guidance of palladium production between 230,000 and 240,000 ounces of palladium at an average AISC cost of US$640-660 per ounce remains unchanged.
Shareholder Information
The complete condensed consolidated interim financial statements of the Company for the three months ended March 31, 2018 and the related management’s discussion and analysis can be found on NAP’s website at www.nap.com , and on SEDAR at www.sedar.com .
The Company invites you to join its webcast and conference call on Friday, May 4, 2018 at 8:30 a.m. ET. A recording of the conference call will be available within 24 hours following the call at the Company’s website .
Conference Call and Webcast Details:
Date: Friday, May 4, 2018 Time: 8:30 a.m. ET Dial In: North America: 1-800-319-4610 International: 1-604-638-5340 Webcast: http://services.choruscall.ca/links/nap20180504.html Replay: North America: 1-855-669-9658 Replay Passcode: 2198 Notes:
1 Non-IFRS measure. Please refer to Non-IFRS Measures in the MD&A.
All figures are in Canadian dollars except where noted.
Qualified Person
The technical content of this news release was reviewed and approved by the Company’s Vice-President, Exploration, Dr. Dave Peck. Dr. Peck is a Qualified Person under the meaning of National Instrument 43-101 and a registered Professional Geoscientist with the Association of Professional Geoscientists of Ontario, the Association of Professional Engineers and Geoscientists of British Columbia, and the Association of Professional Engineers and Geoscientists of Manitoba.
Cautionary Statement on Forward-Looking Information
Certain information contained in this news release constitutes 'forward-looking statements' and ‘forward-looking information’ within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. The words 'target', 'plan', 'should', 'could', 'estimate', 'guidance', and similar expressions identify forward-looking statements. Forward-looking statements in this news release include, without limitation: information pertaining to the Company's strategy, plans or future financial or operating performance, such as statements with respect to, long term fundamentals for the business, operating performance expectations, project timelines, tailings management plan, mining method change, production forecasts, operating and capital cost estimates, expected mining and milling rates, cash balances, projected grades, mill recoveries, metal price and foreign exchange rates and other statements that express management's expectations or estimates of future performance. Forward-looking statements involve known and unknown risk factors that may cause the actual results to be materially different from those expressed or implied by the forward-looking statements. Such risks include, but are not limited to: the possibility that metal prices and foreign exchange rates may fluctuate, the risk that the Lac des Iles mine may not perform as planned, that the Company may not be able to meet production forecasts, the possibility that the Company may not be able to generate sufficient cash to service its indebtedness and may be forced to take other actions, inherent risks associated with development, exploration, mining and processing including environmental risks and risks to tailings capacity, employment disruptions, including in connection with collective agreements between the Company and unions and the risks associated with obtaining necessary licenses and permits. For more details on these and other risk factors see the Company's most recent management’s discussion and analysis and the Company’s annual information form on file with Canadian securities regulatory authorities on SEDAR at www.sedar.com under the heading “Risk Factors”.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions contained in this news release, which may prove to be incorrect, include, but are not limited to: that the Company will be able to continue normal business operations at its Lac des Iles mine, that metal prices and exchange rates between the Canadian and United States dollar will be consistent with the Company's expectations, that there will be no significant disruptions affecting operations, and that prices for key mining and construction supplies, including labour, will remain consistent with the Company's expectations. The forward-looking statements are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
About North American Palladium
North American Palladium Ltd. (TSX:PDL) (OTC PINK:PALDF) is a Canadian company with over 25 years of production at Lac des Iles mine, located northwest of Thunder Bay, Ontario. North American Palladium is the only pure play palladium producer in the world. With over 600 employees, Lac des Iles mine features a unique world class ore body, modern infrastructure, including both an underground mine and an open pit mine, and a world class exploration portfolio.
SOURCE: North American Palladium Ltd.
For further information:
North American Palladium Ltd.
Investor Relations
Telephone: 416-360-7374
Email: [email protected]
Source:North American Palladium | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/globe-newswire-north-american-palladium-announces-strong-operational-performance-with-its-first-quarter-2018-financial-results.html |
May 24, 2018 / 8:26 AM / Updated 2 hours ago China scolds U.S. for withdrawing invite to naval drills Ben Blanchard 4 Min Read
BEIJING (Reuters) - China’s Defence Ministry expressed regret on Thursday after the United States withdrew an invitation to China to attend a major U.S.-hosted naval drill, saying that closing the door does not promote mutual trust and cooperation. Satellite imagery shows what the CSIS Asia Maritime Transparency Initiative describes as the deployment of several new weapons systems to China’s base on Woody Island in the Paracels, South China Sea May 12, 2018. Courtesy CSIS Asia Maritime Transparency Initiative/DigitalGlobe/Handout via REUTERS
The Rim of the Pacific exercise, known as RIMPAC and previously attended by China, is billed as the world’s largest international maritime exercise and held every two years in Hawaii in June and July.
RIMPAC enabled the armed forces of the world’s two largest economies to directly engage with each other. It was viewed by both countries as a way to ease tensions and reduce the risk of miscalculation should they meet under less friendly circumstances.
The Pentagon said the withdrawal of the invitation was in response to what it sees as Beijing’s militarisation of islands in the disputed South China Sea, a strategic waterway claimed in large part by Beijing.
In a brief statement, China’s Defence Ministry said the United States had “ignored the facts and hyped up the so-called ‘militarisation’ of the South China Sea”, using it as an excuse to uninvite China.
“This decision by the United States is not constructive. Closing the door to communication at any time is not conducive towards promoting mutual trust and communication between the Chinese and U.S. militaries,” it added.
China’s island-building programme in the South China Sea has sparked concern around the region and in Washington about Chinese intentions.
China says it has every right to build what it calls necessary defensive facilities on its own territory.
(For a graphic on the Chinese buildup, click tmsnrt.rs/2J3cWne ) “IRRESPONSIBLE REMARKS”
Over the weekend China’s air force landed bombers on islands in the sea as part of a training exercise, triggering concern from Vietnam and the Philippines.
The ministry reiterated that its building of defence facilities was to protect the country’s sovereignty and legitimate rights, and had nothing to do with militarisation.
“The United States has no right to make irresponsible remarks about this,” it added.
“Being invited or not cannot change China’s will to play a role in protecting peace and stability in the Asia-Pacific region, and cannot shake China’s firm determination to defend its sovereignty and security interests”.
It is in both countries interests to develop healthy military ties, and China hopes the United States keeps the broader picture in mind, abandon its “zero sum” mentality and appropriately handle disputes, the ministry said.
Pentagon officials have long complained that China has not been candid enough about its rapid military build-up and using South China Sea islands to gather intelligence in the region.
In an editorial on its website, widely-read Chinese state-run tabloid the Global Times said there was no way China could trade in its interests in the South China Sea for access to the exercise.
“If the U.S. military increases its activities in the South China Sea, then our side will need to further strengthen its military deployments there,” it wrote.
Chinese officials have accused Washington of viewing their country in suspicious, “Cold War” terms.
Speaking at a separate briefing, Chinese Foreign Ministry spokesman Lu Kang said China has sovereign rights in the South China Sea and it is not realistic for the United States to use this kind of action to try to coerce Beijing.
The United States has dispatched warships to disputed areas of the South China Sea in a bid to challenge China’s extensive sovereignty claims in the territory, which is subject to various claims by China, Vietnam, the Philippines, Taiwan, Brunei and Malaysia. Satellite imagery shows what the CSIS Asia Maritime Transparency Initiative describes as the deployment of several new weapons systems, including a J-11 combat aircraft, at China’s base on Woody Island in the Paracels, South China Sea May 12, 2018.Courtesy CSIS Asia Maritime Transparency Initiative/DigitalGlobe/Handout via REUTERS Additional reporting by Zhang Min and Michael Martina; Editing by Darren Schuettler | ashraq/financial-news-articles | https://in.reuters.com/article/usa-china-military-exercise/china-slams-u-s-for-linking-exercise-cancellation-to-s-china-sea-idINKCN1IP13X |
May 2, 2018 / 6:56 AM / Updated 28 minutes ago Duterte order disappoints Philippine workers seeking end to short-term contracts Reuters Staff 3 Min Read
MANILA (Reuters) - Philippine labour groups expressed disappointment on Wednesday over a long-awaited executive order by President Rodrigo Duterte to crack down on short-term hiring, saying it offered nothing new and left millions of workers without benefits. A protestor wears a mask bearing the image of President Rodrigo Duterte while marching towards the Malacanang Presidential Palace during a May Day rally at Mendiola, metro Manila, Philippines May 1, 2018. REUTERS/Romeo Ranoco
Halting use of short contracts commonly referred to as “endo”, or “end of contract”, because they offer few or no benefits, was one of the populist campaign promises that put Duterte in office, but workers’ groups say he has dragged his heels on the issue.
Thousands marched on Labour Day on Tuesday to demand that Duterte issue an executive order, but the one he announced fell short of expectations. It promised to enforce an existing ban on illegal contracting and subtracting, and tasked lawmakers to come up with a new labour code.
“There is nothing new in favour of the workers,” said Elmer Labog, head of the Kilusang Mayo Uno (May 1 Movement), a leftwing workers group.
“With this signal from the president, we are left without hope that the new legislation on labour will be favourable for us.”
Employers who practice “endo” offer tenures shorter than six months, the threshold at which a worker must be made permanent, and entitled to benefits.
Carlos Isagani Zarate, a representative of the Bayan Muna or “Country First” congressional party, said it was likely that big labour federations would outright reject Duterte’s order.
“This is not the executive order they expected,” he told news channel ANC. “They expected that the president would issue a pronouncement that once and for all, job contractualisation must be outlawed.”
A grouping of Philippine trade unions said Duterte’s order did not stop what it called “precarious” deals and “abusive contractualisation”, but welcomed his directive to legislators to fast-track a bill guaranteeing security of tenure.
“We hope the Senate will be very sympathetic to the plight of abused or exploited workers and not be influenced by unscrupulous employers or businessmen,” said Alan Tanjusay, the spokesman of the group, the Associated Labour Unions-Trade Union Congress of the Philippines.
Presidential spokesman Harry Roque accepted that the order was a reiteration of an existing law, but said it underlined Duterte’s determination to improve job security and deliver on his promises.
“What is new is the political will of the president to end contractualisation,” he told dZMM radio. Thousands of Philippine workers carry placards while marching towards the Malacanang Presidential Palace during a May Day rally at Espana, metro Manila, Philippines May 1, 2018. REUTERS/Romeo Ranoco Reporting by Neil Jerome Morales; Editing by Martin Petty and Clarence Fernandez | ashraq/financial-news-articles | https://in.reuters.com/article/philippines-labour/duterte-order-disappoints-philippine-workers-seeking-end-to-short-term-contracts-idINKBN1I30MP |
UPDATE 1-Brazil's CPFL eyes Eletrobras distributors on sale -sources Published 7:28 PM ET Thu, 3 May 2018 Reuters
(Adds details on coveted distributors, source quotes)
SAO PAULO/RIO DE JANEIRO, May 3 (Reuters) - Brazil's CPFL Energia SA is eyeing distribution assets being sold off by state-run utility Centrais Elétricas Brasileiras SA , three sources with knowledge of the matter said on Thursday.
The money-losing assets could eventually turn a profit if run by owners willing to invest in them, said the sources on condition of anonymity to discuss the confidential matter.
CPFL, owned by China State Grid Corp, is particularly interested in Cepisa and Ceal, which operate in the northeastern states of Piauí and Alagoas, respectively, one person said.
Another source said CPFL executives had visited Cepisa.
The plan suggests CPFL's attention turned to the auction of the Eletrobras distributors after the company dropped out of a bidding war to control Eletropaulo Metropolitana de São Paulo SA , Brazil's largest distribution company by sales.
CPFL, Brazil's largest private-sector electricity group, was put off after two rivals raised their bids for Eletropaulo, making it too expensive, the sources said.
"CPFL was eager to buy Eletropaulo, but the competition with Enel and Neoenergia increased the price tag to a level that cannot be justified," one of the sources said.
Last month Italy's Enel SpA raised its takeover offer for Eletropaulo, as the São Paulo-based utility is known, to 32.20 reais per share. The bid valued Eletropaulo at 5.39 billion reais ($1.53 billion), and topped one by Neoenergia SA, controlled by Spain's Iberdrola SA, of 32.10 reais per share.
The government is expected to auction off six Eletrobras distribution companies in the north and northeast of Brazil by June.
The auction has been postponed from this month because of an ongoing federal audit court analysis of the bidding rules. ($1 = 3.5282 reais) (Reporting by Luciano Costa in São Paulo and Rodrigo Viga Gaier in Rio de Janeiro; Writing by Ana Mano; Editing by Richard Chang) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/03/reuters-america-update-1-brazils-cpfl-eyes-eletrobras-distributors-on-sale-sources.html |
VANCOUVER, British Columbia--(BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU) today announced that its financial results for the first quarter fiscal 2018 will be released Thursday, May 31, 2018. The company will host a conference call at 4:30 p.m. Eastern time to discuss the financial results.
If you would like to participate in the call, please dial (800) 319-4610 or (604) 638-5340, if calling internationally, approximately 10 minutes prior to the start of the call.
A live webcast of the conference call will be available online at: http://investor.lululemon.com/events.cfm . A replay will be made available online approximately 2 hours following the live call for a period of 30 days.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180517005183/en/
Investor:
lululemon athletica inc.
Howard Tubin, 1-604-732-6124
or
ICR, Inc.
Joseph Teklits/Caitlin Morahan, 1-203-682-8200
or
Media Contact:
lululemon athletica inc.
Erin Hankinson, 1-604-732-6124
or
Brunswick Group
Ash Spiegelberg, 1-214-254-3790
Source: lululemon athletica inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/business-wire-lululemon-athletica-inc-announces-first-quarter-fiscal-2018-earnings-conference-call.html |
TORONTO, (TSX:WFS) (TSX:WFS.PR.A) World Financial Split Corp. (the “Company”) is pleased to announce that the board of directors has approved an extension of the maturity date of the Class A & Preferred Shares of the Company for an additional seven year period beyond June 30, 2018 to June 30, 2025 as provided for in its articles of incorporation.
The term extension allows holders of Class A Shares to continue to receive ongoing leveraged exposure to a high-quality portfolio consisting principally of common equity securities selected from the ten largest (by market capitalization) financial services companies in each of Canada, the United States and the rest of the world. Holders of the Preferred Shares are expected to continue to benefit from fixed cumulative preferential quarterly distributions in the amount of $0.13125 ($0.525 per annum) per Preferred Share representing a yield of 5.25% on the original issue price of $10.00. Since the inception to April 30, 2018, the Preferred shareholders have received cash distributions of $7.41 per share.
In connection with the extension of the term, holders of Class A Shares & Preferred Shares have a special retraction right (“Special Retraction Right”) on June 30, 2018. In order to exercise the Special Retraction Right, the shares must be surrendered for retraction on or prior to 5:00 p.m. (Toronto time) on June 15, 2018.
About Strathbridge Asset Management Inc.
Strathbridge Asset Management Inc., is an experienced issuer of closed-end funds with 9 TSX-listed funds currently under management. Strathbridge is one of Canada’s most experienced option strategy managers, with over 20 years' experience. For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email [email protected] or visit www.strathbridge.com .
John Germain, Senior Vice-President, CFO Strathbridge Asset Management Inc.
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
www.strathbridge.com
[email protected]
Commissions, trailing commissions, management fees and expenses all may be associated with investments in investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Source:World Financial Split Corp. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/28/globe-newswire-world-financial-split-corp-announces-automatic-term-extension.html |
May 14, 2018 / 3:53 PM / in an hour Hezbollah says rocket attack on Israeli-occupied Golan marks 'new phase' Reuters Staff 1 Min Read
BEIRUT (Reuters) - The leader of Lebanon’s powerful Hezbollah group, Sayyed Hassan Nasrallah, said on Monday a missile attack from Syria into the Israeli-occupied Golan Heights last week marked a new phase in the Syrian war.
Israel has said the attack was carried out by Iran’s Revolutionary Guards, which set up Hezbollah in 1982. Shi’ite Hezbollah is fighting in Syria in support of President Bashar al-Assad.
In a televised speech Nasrallah said the rocket attack showed Syria and its allies are ready to go to “the greatest extent” to defend Syria from Israel. He did not say who had carried out the attack.
Nasrallah said 55 missiles were launched from Syrian territory in the attack. Israel had said 20 missiles were shot down by its Iron Dome defense system in the attack on Thursday. Reporting by Tom Perry and Laila Bassam; Writing by Lisa Barrington; Editing by Andrew Roche | ashraq/financial-news-articles | https://www.reuters.com/article/us-mideast-crisis-syria-hezbollah/hezbollah-says-rocket-attack-on-israeli-occupied-golan-marks-new-phase-idUSKCN1IF28D |
NEW YORK (Reuters) - Oil prices rose on Thursday, boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
Oil pumps are seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, 2018. REUTERS/Christian Hartmann Brent crude futures LCOc1 rose 26 cents to settle at $73.62 a barrel, a 0.35 percent gain. U.S. West Texas Intermediate (WTI) crude CLc1 rose 50 cents to settle at $68.43 a barrel, a 0.74 percent increase.
“The price move today is probably based off Iran and the tight oil supply market that we already have,” said Rob Thummel, portfolio manager at energy investment manager Tortoise Capital in Leawood, Kansas. “The margin for error right now is just so low in the oil market that you can’t just take supply off the market.”
Iran’s foreign minister said U.S. demands to change its 2015 nuclear agreement with world powers were unacceptable as a deadline set by President Donald Trump for Europeans to “fix” the deal loomed.
Trump has all but decided to withdraw from the accord by May 12, sources said on Wednesday, though exactly how he will do so remained unclear.
Iran re-emerged as a major oil exporter in January 2016 when international sanctions against Tehran were suspended in return for curbs on Iran’s nuclear program.
Also supporting prices, North Sea oilfields connected to the Brent oil pipeline have stopped production due to a shutdown at the UK’s Sullom Voe oil terminal, the Brent pipeline operator said, reducing output of the crude.
Global oil supply has tightened with production cuts led by the Organization of the Petroleum Exporting Countries and its allies. The latest Reuters survey showed OPEC pumped around 32 million barrels per day (bpd) in April, slightly below its target of 32.5 million bpd, due largely to plunging output in Venezuela.
Russia on Thursday said its own compliance with a global deal with OPEC and other producers to curb output stood at 95.2 percent in April, with its output unchanged at 10.97 million bpd.
However, rising U.S. oil supply tempered oil futures gains.
On Wednesday, U.S. government data showed a 6.2-million-barrel jump in crude inventories last week. U.S. production also hit a new weekly record of 10.62 million bpd, ahead of top OPEC producer Saudi Arabia and just below No. 1 producer Russia.
Inventories at the Cushing, Oklahoma storage hub climbed by about 152,000 barrels in the week to May 1, according to market intelligence firm Genscape, traders who saw the data said.
Reporting by Stephanie Kelly; Additional reporting by Libby George in London and Henning Gloystein in Singapore; Editing by David Gregorio and Lisa Shumaker
| ashraq/financial-news-articles | https://in.reuters.com/article/us-global-oil/oil-prices-fall-on-rising-u-s-crude-inventories-record-production-idINKBN1I400J |
LONDON (Reuters) - Sterling rallied to a one-week high against a broadly firm euro on Tuesday after a top central bank official struck an upbeat note on the outlook for future interest rate increases.
FILE PHOTO: A British ten pound note is seen in front of a stock graph in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File Photo Bank of England policymaker Gertjan Vlieghe told the Treasury Committee in Britain's parliament that policy rates are set to rise 25 to 50 basis points every year over a three-year forecast period, a comment interpreted by currency markets as supportive for the British currency GBP=D3 .
“His comments are helping sterling but it is important to remember that everything policymakers say today is conditional on the incoming data and that needs to be kept in mind to correctly assess the policy outlook,” Viraj Patel, an FX strategist at ING Bank in London, said.
Against the dollar, sterling extended gains and rose 0.4 percent to the day’s highs at $1.3492. It climbed 0.2 percent to a one-week high against the euro EURGBP=D3 at 87.60 pence.
Interest rate markets were broadly unchanged by the relatively optimistic comments, with the probability of another quarter point rate hike holding at around 90 percent by the end of the year, the same levels as earlier this week.
Gains were capped before important data on the British economy due out this week, including inflation on Wednesday and the gross domestic product figure on Friday.
These will be scrutinised by investors to gauge whether the BoE might tighten monetary policy as early as August.
Tuesday’s rise in the pound came after concerns over the risks in the post-divorce relationship Britain negotiates with the European Union weighed heavily on the currency last week.
Adding to the uncertainty, lawmakers from Prime Minister Theresa May’s governing Conservative Party is reported to be bracing itself for a snap autumn parliamentary election amid fears that the Brexit deadlock will become insurmountable.
But the biggest reason for sterling’s recent fall has been a drastic shift in expectations of when the BoE will raise rates.
“Until a solution emerges on the Brexit front, a rate hike is the only things that could support sterling temporarily,” Commerzbank strategists said in a note.
“Without it, sterling remains unattractive.”
Reporting by Saikat Chatterjee; Editing by Alexander Smith
| ashraq/financial-news-articles | https://www.reuters.com/article/uk-britain-sterling-cenbank/bank-of-england-rate-comments-lift-sterling-to-one-week-high-versus-euro-idUSKCN1IN13U |
SHANGHAI, PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced that it will report its first quarter 2018 unaudited financial results, on Tuesday, May 15, 2018, before the open of U.S. markets.
The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 15, 2018 (8:00 PM Beijing/Hong Kong time on May 15, 2018).
Dial-in details for the earnings conference call are as follows:
United States (toll free):
1-888-346-8982
International:
1-412-902-4272
Hong Kong (toll free):
800-905-945
Hong Kong:
852-301-84992
China:
400-120-1203
Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "PPDAI Group."
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.ppdai.com .
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until May 22, 2018, by dialing the following telephone numbers:
United States (toll free):
1-877-344-7529
International:
1-412-317-0088
Replay Access Code:
10120252
About PPDAI Group Inc.
PPDAI is a leading online consumer finance marketplace in China with strong brand recognition. Launched in 2007, the Company is the first online consumer finance marketplace in China connecting borrowers and investors. As a pioneer in China's online consumer finance marketplace, the Company benefits from both its early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles. The Company's platform, empowered by its proprietary, cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience, as evidenced by the rapid growth of the Company's user base and loan origination volume. As of December 31, 2017, the Company had over 65 million cumulative registered users.
, please visit http://ir.ppdai.com .
For investor and media inquiries, please contact:
In China:
PPDAI Group Inc.
Jimmy Tan / Sally Huo
Tel: +86 (21) 8030 3200-8601
E-mail: [email protected]
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: [email protected]
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: [email protected]
: releases/ppdai-group-inc-to-report-first-quarter-2018-financial-results-on-tuesday-may-15-2018-300644217.html
SOURCE PPDAI Group Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/pr-newswire-ppdai-group-inc-to-report-first-quarter-2018-financial-results-on-tuesday-may-15-2018.html |
May 26, 2018 / 12:47 AM / in 20 hours Subtropical Storm Alberto to strengthen over next 48 hours: NHC Reuters Staff 1 Min Read
(Reuters) - Subtropical storm Alberto is moving slowly and erratically over the northwestern Caribbean Sea and is expected to strengthen gradually over the next 48 hours as it heads to the Gulf of Mexico, the U.S. National Hurricane Center (NHC) said in its latest advisory on Friday. A general view shows an empty beach as subtropical storm Alberto approaches Cancun, Mexico May 25, 2018. REUTERS/Israel Leal
The storm is located about 100 miles (160 km) south-south east of Cozumel, Mexico, packing maximum sustained winds of 40 mph (65 kph), the Miami-based weather forecaster said.
“Heavy rainfall expected to affect the Yucatan peninsula, western Cuba, Florida and the northeastern Gulf Coast through the weekend,” NHC said, adding “Alberto is forecast to slow down after it moves inland.”
It is expected to reach U.S. Gulf Coast on Monday Reporting by Sumita Layek in Bengaluru; Editing by Sandra Maler | ashraq/financial-news-articles | https://www.reuters.com/article/us-storm-alberto-nhc/subtropical-storm-alberto-to-strengthen-over-next-48-hours-nhc-idUSKCN1IR00F |
May 8 (Reuters) - FedEx Corp:
* FEDEX TO PURCHASE $6 BILLION GROUP ANNUITY CONTRACT FROM METROPOLITAN LIFE INSURANCE COMPANY TO REDUCE PENSION OBLIGATIONS
* FEDEX CORP - BY TRANSFERRING THE OBLIGATIONS TO METROPOLITAN LIFE, FEDEX WILL REDUCE ITS U.S. PENSION PLAN LIABILITIES BY APPROXIMATELY $6 BILLION
* FEDEX CORP - PURCHASE OF GROUP ANNUITY CONTRACT WILL BE FUNDED DIRECTLY BY ASSETS OF PENSION PLANS
* FEDEX CORP - FOLLOWING ANNUITY PURCHASE AND TRANSFER, PENSION PLANS WILL REMAIN WELL FUNDED
* FEDEX CORP -TO RECOGNIZE ONE-TIME NON-CASH PENSION SETTLEMENT CHARGE, TO BE INCLUDED IN FY 2018 YEAR-END MARK-TO-MARKET PENSION ACCOUNTING ADJUSTMENTS Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-fedex-to-purchase-6-bln-group-annu/brief-fedex-to-purchase-6-bln-group-annuity-contract-from-metropolitan-life-insurance-company-idUSFWN1SF17O |
NEW DELHI, May 14 (Reuters) - Indian state fuel retailers raised diesel and petrol prices on Monday to their highest in nearly five years, data from the country’s biggest fuel retailer shows.
Opposition leaders criticised the government for the increases, which have come days after a crucial election in the southern state of Karnataka that both the ruling party and opposition Congress party have fought hard to win.
Fuel prices had been kept steady for nearly three weeks despite a move to market-linked pricing years ago.
State-owned Indian Oil Corp (IOC), whose price decision is followed by other refiners, said last week that it was keeping rates constant because the “current global oil price rise is not supported by fundamentals”.
It was not immediately clear what prompted the company to raise prices on Monday. A company spokesman could not be reached for comment.
“The retailers may have been asked to absorb the incremental hikes as we had seen during Gujarat state elections (in December),” said Senthil Kumaran, senior oil analyst at energy consultancy FGE.
An oil ministry spokesman did not respond immediately to a request for comment.
Petrol prices have risen by about 0.2 percent and diesel prices by 0.3 percent in major Indian cities this week, according to data provided by IOC.
“This government is blatantly lying to the people by telling them that prices are controlled by market mechanisms,” said Abhishek Singhvi, a spokesman for the Congress party.
Global crude oil prices this month hit their highest in more than three years on record Asian demand and after the United States said it would re-impose sanctions on major oil exporter Iran, which is an important supplier to India. (Reporting by Sudarshan Varadhan; Editing by Nidhi Verma and David Goodman)
| ashraq/financial-news-articles | https://www.reuters.com/article/india-elections-fuel/indian-diesel-petrol-prices-hiked-after-state-elections-idUSL3N1SL2ZK |
Oilfield Services Company Reports Net Profit Driven by West Texas Permian Basin Customer Activity Increases
First Quarter 2018 Highlights:
Revenue increased 79% to $998,178 for the quarter ended March 31, 2018, from $556,505 during the same period a year ago, up 50%, sequentially from last quarter. Gross profit increased over 100% to $488,063 for the quarter ended March 31, 2018, from $234,692 the same period a year ago. Gross margin grew from an average of 42% for all of 2017 to 49% for the first quarter 2018, driven by a favorable sales mix and higher service revenues. EBITDAX was $81,872 for the first quarter, (a non-GAAP measure; see reconciliation chart below). Net income was $19,743 for the first quarter ended March 31, 2018, as higher sales and higher gross margins generated improved results, compared to a net loss of $388,664 reported in Q4 2017. The company is aggressively moving forward with its announced acquisition strategy.
HOUSTON, May 10, 2018 (GLOBE NEWSWIRE) -- SMG Industries, Inc. (formerly SMG Indium Resources Ltd.) (OTCQB:SMGI) an oilfield services company headquartered in Houston, Texas announced their financial results today for the first quarter ended March 31, 2018.
As stated in the Company’s Quarterly Report on Form 10-Q filed May 10, 2018 with Commission, revenues for the three months ended March 31, 2018 were $998,178, an increase of $441,673, or 79%, from $556,505 for the comparable three months ended March 31, 2017, and sequentially up 50% from the previous fourth quarter 2017. These revenues included product sales of our degreasers, detergents and surfactants, service revenues from drilling rig wash crews, mechanical repair services, equipment and parts sales and rental equipment revenues. Each of these revenue streams increased for the first quarter 2018 when compared to the same period in 2017, driven by increased customer activity from increased numbers of active drilling rigs operating in our market.
During the three months ended March 31, 2018, gross margins increased to 49% of sales, or $488,063, compared to $234,692, or 42% of revenues for the comparable 2017 period. The improvement in gross margins is primarily the result of operational efficiencies from higher sales volumes, a more favorable sales mix driven by higher margin, rig wash service revenues and improved supply chain economies.
For the three months ended March 31, 2018, selling, general and administrative expenses increased to $421,842, an increase of $333,623, from $88,219 for the three months ended March 31, 2017. The increase in selling, general and administrative expenses in 2018 was primarily due to higher costs associated with being a public reporting company including accounting and legal fees, higher wages from added managerial and service crew personnel in West Texas and increased insurance expense. Additionally, amortization of deferred financing costs was $24,505 during the first quarter 2018. No public reporting costs or related professional fees were present in the first quarter of 2017.
During the three months ended March 31, 2018, we realized a net income of $19,743, or $0.00 per basic and diluted earnings per share. For the three months ended March 31, 2017 we realized a net income of $136,794 or $0.10 per basic and $0.09 diluted earnings per share. The net income for the quarter ended March 31, 2018 resulted from higher revenues generating higher gross margin and operating leverage partially offset by higher selling, general and administrative expenses associated with becoming a publicly-traded entity and wage increases from West Texas expansion present during the first quarter 2018 not present in the first quarter 2017. The basic weighted average number of shares of common stock outstanding was 9,387,325 and 1,408,276 for the three months ended March 31, 2018 and 2017, respectively.
As of May 10, 2018, the Company had 10,255,190 shares outstanding, no preferred shares, no warrants, or convertible securities and approximately 500,000 options outstanding which held an average exercise price of $0.47 per share.
Matthew Flemming, Chief Executive Officer of SMGI stated, “The investments made in 2017 have shown results during the first quarter 2018. Our West Texas’ Permian Basin expansion and the move to a new larger facility in Odessa, Texas have contributed to our growth. Our first quarter revenues grew almost 50% sequentially from the previous quarter in 2017 in large part from the Permian Basin customer activity. Gross margins also improved from last year’s 42% to 49% for the first quarter 2018 benefiting from increased revenue and a favorable sales mix.” Mr. Flemming added, “We continue to actively pursue plans for acquisitions with an accretive profile and prospects for future growth with our team.”
Mr. Stephen Christian, President of MG Cleaners LLC and EVP of SMG stated, “Miracle Blue™ and other proprietary degreasers, surfactants and detergents sales were up in the first quarter 2018 as geographic distribution expanded in West Texas and New Mexico. However, we are most pleased with our service crews’ expansion utilized by customers for drilling rig wash and onsite service repairs which drove a more favorable margin mix. We anticipate other growth and expansion plans in the second quarter of 2018 in South Texas targeting Eagle Ford Shale activity.”
First Quarter 2018 Financial Tables
SMG INDUSTRIES INC. (FORMERLY: SMG INDIUM RESOURCES LTD.) CONSOLIDATED BALANCE SHEETS (unaudited) March 31, December 31, 2018 2017 ASSETS Current assets: Cash and cash equivalents $ 42,573 $ 85,570 Accounts receivable, net of allowance for doubtful accounts of $10,695 655,444 441,359 Inventory 128,904 142,053 Assets held for sale 42,300 42,300 Prepaid expenses and other current assets 20,243 25,352 Total current assets 889,464 736,634 Property and equipment, net of accumulated depreciation of $ 232,197 and $300,155 171,453 118,779 Other assets 13,048 - Intangible assets, net of accumulated amortization $1,100 148,900 - Total assets $ 1,222,865 $ 855,413 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 311,424 $ 395,423 Accounts payable - related party 40,000 95,585 Accrued expenses and other liabilities 103,288 69,578 Secured line of credit 478,783 353,975 Current portion of note payable - related party 48,182 - Current portion of secured notes payable 215,475 264,615 Total current liabilities 1,197,152 1,179,176 Long term liabilities: Note payable - related party 88,932 - Notes payable - secured, net of current portion 273,118 258,361 Total liabilities 1,559,202 1,437,537 Commitments and contingencies Stockholders' deficit Preferred stock - $0.001 par value; authorized 1,000,000 shares as of March 31, 2018 and December 31, 2017; issued and outstanding none at March 31, 2018 and December 31, 2017 - Common stock - $0.001 par value; authorized 25,000,000 shares as of March 31, 2018 and December 31, 2017; issued and outstanding 10,005,190 and 8,865,190 at March 31, 2018 and December 31, 2017 10,005 8,865 Additional paid in capital 167,964 (56,940 ) Accumulated deficit (514,306 ) (534,049 ) Total stockholders' deficit (336,337 ) (582,124 ) Total liabilities and stockholders' deficit $ 1,222,865 $ 855,413 The accompanying notes are an integral part of these consolidated unaudited financial statements
SMG INDUSTRIES INC. (FORMERLY: SMG INDIUM RESOURCES LTD.) CONSOLIDATED STATEMENTS OF OPERATIONS For the three months ended March 31, 2018 and 2017 (unaudited) 2018 2017 REVENUES $ 998,178 $ 556,505 COST OF REVENUES 510,115 321,813 GROSS PROFIT 488,063 234,692 OPERATING EXPENSES: Selling, general and administrative 421,842 88,219 Total operating expenses 421,842 88,219 INCOME FROM OPERATIONS 66,221 146,473 OTHER INCOME (EXPENSE) Interest expense, net (46,478 ) (9,679 ) NET INCOME $ 19,743 $ 136,794 Net Income Per Share Basic $ 0.00 $ 0.10 Diluted $ 0.00 $ 0.09 Weighted average shares outstanding Basic 9,387,325 1,408,276 Diluted 9,651,888 1,443,350 The accompanying notes are an integral part of these consolidated unaudited financial statements
SMG INDUSTRIES INC. (FORMERLY: SMG INDIUM RESOURCES LTD.) CONSOLIDATED STATEMENTS OF CASH FLOWS For the three months ended March 31, 2018 and 2017 (unaudited) 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 19,743 $ 136,794 Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization 15,386 19,102 Amortization of deferred financing costs 24,505 - Bad debt expense 622 - Changes in: - Accounts receivable (214,707 ) 12,716 Inventory 13,149 - Prepaid expenses and other current assets (7,939 ) 2,698 Accounts payable (83,999 ) 64,469 Accounts payable related party (55,585 ) - Accrued expenses and other liabilities 33,710 (75,746 ) Net cash provided by (used in) operating activities (255,115 ) 160,033 CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for purchase of property and equipment (25,479 ) - Net cash used in investing activities (25,479 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from secured line of credit, net 124,808 - Proceeds from notes payable - 25 Payments on notes payable (100,369 ) (25,200 ) Payments on notes payable, related party (12,886 ) - Proceeds from member contributions - 9,839 Payments for member distributions - (79,578 ) Proceeds from sales of common stock 226,044 - Net cash provided by (used in) financing activities 237,597 (94,914 ) NET CHANGE IN CASH AND CASH EQUIVALENTS (42,997 ) 65,119 CASH AND CASH EQUIVALENTS, beginning of period 85,570 22,461 CASH AND CASH EQUIVALENTS, end of period $ 42,573 $ 87,580 Supplemental disclosures: Cash paid for income taxes $ - $ - Cash paid for interest $ 21,792 $ 5,778 Noncash investing and financing activities Intangible assets acquired from issuance of note payable, related party $ 150,000 $ - Purchase of fixed assets with note payable 41,481 - The accompanying notes are an integral part of these consolidated unaudited financial statements
SMG Industries, Inc.
EBITDAX Reconciliation Table
For the Quarter ended March 31, 2018
Net Income $ 19,743 Add Back: Interest $ 46,743 Taxes $ 0 Depreciation $ 15,386 One time, non-recurring items $ 0 EBITDAX $ 81,872 About SMG Industries Inc.: SMGI is an oilfield services company that operates throughout Texas and adjacent states of New Mexico and Louisiana. The Company, through its wholly-owned subsidiary MG Cleaners LLC., is focused on selling proprietary branded products including detergents, surfactants and degreasers (such as Miracle Blue™) to oilfield drilling rig contractors, E&P operators and oilfield companies. In addition to the Company's proprietary products, SMGI sells equipment and parts and has service crews that perform on-site repairs, maintenance and drilling rig wash services for customers such as Nabors Industries, Patterson-UTI, Helmrich & Payne, Cactus Drilling and others. SMGI has facilities in Houston, Carthage, and Odessa, Texas. Read more at www.SMGIndustries.com and www.mgcleanersllc.com .
Forward-Looking Statements:
This news release contains information that is “forward-looking” in that it describes events and conditions SMGI reasonably expects to occur in the future. Expectations for the future performance of SMGI are dependent upon a number of factors and there can be no assurance that SMGI will achieve the results as contemplated herein. Certain statements contained in this release using the terms “may”, “expects to”, “anticipated” and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond SMGI’s ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. Forward-looking statements in this news release that are subject to risk include the ability to achieve and continue revenue, net income and adjusted EBITDA improvements. It is important that each person reviewing this release understand the significant risks attendant to the operation of SMGI. SMGI disclaims any obligation to update any forward-looking statement made herein.
Source: Matthew Flemming, SMG Industries, Inc. +1-713-821-3153
Source:SMG Industries, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-smg-industries-inc-announces-first-quarter-2018-financial-results.html |
May 25, 2018 / 6:58 AM / Updated 2 hours ago England skipper Farrell relishing added responsibility Reuters Staff 2 Min Read
(Reuters) - England skipper Owen Farrell is relishing the opportunity to lead the team on next month’s three-test series in South Africa, the flyhalf acutely aware that the role is loaded with added responsibility. Rugby Union - Six Nations Championship - England vs Ireland - Twickenham Stadium, London, Britain - March 17, 2018 England’s Owen Farrell applauds the fans at the end of the match Action Images via Reuters/Andrew Boyers
The 26-year-old Farrell, who has 58 caps for England, has been promoted to replace Dylan Hartley as skipper while the hooker takes an extended break from the game to recover from concussion symptoms.
“It (captaincy) puts a bit more pressure on you to play well but I see that as a good thing,” Farrell told BBC Radio 5 live.
“The first thing with that responsibility is standing up and talking in front of the team, telling other people what to do. The more you end up speaking the more you’ve got to do it and the more you’ve got to front up.
“I’ve always been comfortable speaking, especially on the field. Probably not as much off the field.”
Farrell believes he has the leadership qualities to step into Hartley’s shoes as Eddie Jones’ side looks to snap a run of poor recent performances.
England were beaten by Scotland, France and Ireland in consecutive fixtures to finish a disappointing fifth in the Six Nations tournament earlier this year.
“I’m not trying to be anyone else. You can either let the pressure get to you or let it help make you better. I see it as something to get excited about rather than try and worry about,” Farrell added.
Prior to the South Africa tour, which begins with the first test on June 9, Farrell will look to help his club Saracens beat defending champions Exeter in the Premiership final at Twickenham on Saturday. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by John O'Brien | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-rugby-union-eng-farrell/england-skipper-farrell-relishing-added-responsibility-idUKKCN1IQ0OH |
1 COMMENTS PayPal PYPL 2.02% has long been the king of peer-to-peer payments and a big player in online payments, but has had a very limited presence in stores.
The company’s $2.2 billion acquisition of a fast-growing Swedish payments company called iZettle is a smart but expensive way to fill that gap. The deal will put it in clear competition with Square, a payments processor that has gained a huge following among small businesses, and big point-of-sale terminal providers such as Worldpay.
PayPal is paying a high price for a small company in a market that is already fairly crowded—but it is the right move strategically because retailers increasingly want to be able to accept payment in any form, online or in-store, quickly and easily.
If successful, the deal will make PayPal look more like WorldPay, which provides the full-blown checkout terminals at retailers. The industry has been busy with consolidation —Worldpay was created last year when Vantiv of the U.S. took over the U.K.’s WorldPay.
But iZettle technology is mobile or tablet based, with a small, light card reader that is cheap compared with full-blown checkout terminals. That gives PayPal a lower cost option that should be useful for its own small business customers, and gives it the cool factor to help it compete with Square, the payments company set up by Twitter ’s Jack Dorsey.
The question will be how quickly it can roll out iZettle’s technology: the Swedish group has just 500,000 small business customers so far; PayPal has 19 million. Square is also much bigger. Over the past four quarters, it processed gross payment volume of $69.5 billion. According to PayPal’s press release, iZettle is expected to have a gross payment volume of $6 billion in 2018.
The price looks steep. iZettle said only this month that it aimed to list on Nasdaq in Stockholm with a valuation expected to be about $1.1 billion. PayPal has just doubled that.
PayPal’s headquarters in San Jose, Calif. Photo: Justin Sullivan/Getty Images iZettle is loss making and according to PayPal should become profitable in 2020. But it has been growing rapidly with revenues after fees to banks and card networks up 60% a year over the past three years to reach an estimated $130 million for 2018. If that growth rate continues, the $2.2 billion that PayPal is shelling out would be about 11 times 2019 revenues.
That is much higher than PayPal itself, or Worldpay, which trade at enterprise values of 5.1 and 7.7 times 2019 revenues, respectively. However, it is a 15% discount to Square, according to analysts at Deutsche Bank .
PayPal is late to the innovations that Square helped pioneer and is paying a high price to catch up. But the cost is necessary to plug the gap.
Write to Paul J. Davies at [email protected] | ashraq/financial-news-articles | https://www.wsj.com/articles/paypal-pays-up-to-get-into-stores-1526653333 |
Federal Reserve officials would be content to let inflation briefly run above their 2 percent target as the economy continues to recover, according to minutes from the central bank's most recent meeting.
Following the May 1-2 session, the policymaking Federal Open Market Committee said it wasn't raising rates yet but added the word "symmetric" to describe its inflation goal. Market participants since have puzzled over what the change in language might imply.
The summary released Wednesday indicates a substantial level of debate over how the Fed should approach inflation. The minutes also pointed to an interest rate hike at the June meeting amid debate over how close the Fed might be getting to the end of this rate-hiking cycle.
Getty Images Federal Reserve Chairman Jerome Powell speaks during a news conference March 21, 2018 in Washington, DC. While the general sentiment was that inflation would continue to rise toward the 2 percent target, there was disagreement over how confident the Fed should be after years of undershooting, and what that would mean to policy. However, there seemed to be agreement that after years of subpar growth and low inflation, allowing the economy to rev up a little would be appropriate.
"A few participants commented that recent news on inflation, against a background of continued prospects for a solid pace of economic growth, supported the view that inflation on a 12-month basis would likely move slightly above the Committee's 2 percent objective for a time," the minutes said. "It was also noted that a temporary period of inflation modestly above 2 percent would be consistent with the Committee's symmetric inflation objective and could be helpful in anchoring longer-run inflation expectations at a level consistent with that objective."
'Symmetric' "Symmetric" was mentioned at least nine times in the minutes.
The Fed's preferred inflation gauge, the core personal consumption expenditures index, currently is at 1.9 percent, while the headline rate including energy and food prices is at 2 percent. Fed officials described wage pressures as "moderate" though it noted there has been more pressure in industries where labor supply is tightening.
Fed officials see 2 percent inflation as a level that sustains economic growth without putting too much upward pressure on prices.
After seven years of keeping its benchmark interest rate near zero, the FOMC began raising rates in December 2015, with the current target range at 1.5 percent to 1.75 percent.
As the economy has seen growth above its recovery trend and inflation inches its way toward the Fed's goal, market participants have been speculating on how quickly the Fed will continue to hike and when it will stop. A few members stated that the Fed is getting close to its "neutral" goal of setting a rate that is neither constrictive nor overly expansionary to growth.
Though Fed officials indicated in March that a total of three rate hikes this year were likely, traders in the fed funds futures market in recent days briefly put chances of a fourth hike above 50 percent. That probability has since declined to about 43 percent.
The minutes indicate that central bank officials remain determined to keep increasing rates, but with the gradual approach that it has repeatedly pledged to take.
June hike? "Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate for the Committee to take another step in removing policy accommodation," the minutes said in an indication that another hike is likely soon. Markets already had been pricing in a 95 percent chance of a quarter-point move at the June FOMC session, followed by another increase in September.
The Fed's rate is tied closely to most forms of consumer debt.
Along with the approach to inflation, some Fed officials also suggested that changes will be coming to what has become boilerplate language in post-meeting statements.
Specifically, those members said that as rate hikes continue, adjustments may have to be made to phrasing that the "federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run" and another phrase that for years has said "the stance of monetary policy remains accommodative."
However, the minutes also noted that members "expressed a range of views" on how policy should proceed.
Positive economic outlook On the economy, committee members said their opinions had changed little as they expect continued progress despite some signs of softening in the first quarter.
There was concern expressed over trade and fiscal issues, with Fed business contacts expressing "concern about the possible adverse effects of tariffs and trade restrictions, including the potential for postponing or pulling back on capital spending."
The outlook otherwise was positive.
"They noted a number of economic fundamentals were currently supporting continued above-trend economic growth; these included a strong labor market, federal tax and spending policies, high levels of household and business confidence, favorable financial conditions, and strong economic growth abroad," the minutes said.
As things progress, "further gradual increases" in rates would be possible without disrupting the recovery and while sustaining the "symmetric" inflation goal.
WATCH: Another Fed hike ahead if economy stays on track show chapters Fed: Another hike ahead if economy stays on track 1 Hour Ago | 05:09 | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/23/fed-indicates-it-will-let-inflation-run-above-2-percent-goal-for-temporary-period.html |
May 4, 2018 / 6:18 PM / Updated 28 minutes ago Stormy Daniels payment did not violate campaign laws - Trump lawyer Giuliani Reuters Staff 1 Min Read
WASHINGTON (Reuters) - President Donald Trump’s attorney Rudy Giuliani said on Friday a $130,000 (£95,990) payment another Trump lawyer made to silence adult-film star Stormy Daniels before the 2016 election did not violate campaign laws, saying it would have been made even if Trump were not running. FILE PHOTO: A combination photo shows Adult film actress Stephanie Clifford, also known as Stormy Daniels speaking in New York City, and U.S. President Donald Trump speaking in Washington, Michigan, U.S. on April 16, 2018 and April 28, 2018 respectively. . REUTERS/Brendan Mcdermid (L) REUTERS/Joshua Roberts (R)/File Photos
“The payment was made to resolve a personal and false allegation in order to protect the president’s family,” Giuliani said in a statement. “It would have been done in any event, whether he was a candidate or not.” Reporting by Timothy Ahmann; Editing by David Alexander | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-trump-russia-giuliani/stormy-daniels-payment-did-not-violate-campaign-laws-trump-lawyer-giuliani-idUKKBN1I52B0 |
MANCHESTER, England (Reuters) - Prime Minister Theresa May joined Prince William at a memorial service on Tuesday to remember the 22 victims of a suicide bombing at a pop concert in Manchester a year ago, Britain’s deadliest attack for 12 years.
Salman Abedi, a 22-year-old Briton born to Libyan parents, blew himself up in the foyer of the Manchester Arena in northern England at the end of a show by U.S. singer Ariana Grande as the crowds began to leave.
His victims included seven children, the youngest aged just eight, while more than 500 were injured.
“Thinking of you all today and every day. I love you with all of me and am sending you all of the light and warmth I have to offer on this challenging day,” Grande wrote on Twitter, including a bee emoticon, the symbol of Manchester.
On Tuesday, an hour-long service of commemoration was held at Manchester Cathedral while there was also a nationwide one-minute silence. William, Queen Elizabeth’s grandson, delivered a Bible reading and met some of the bereaved families privately afterwards.
“The targeting of the young and innocent as they enjoyed a care free night out in the Manchester Arena on May 22, 2017, was an act of sickening cowardice,” May wrote in an article for the Manchester Evening News newspaper.
A girl cries as she looks at at tributes left in St Anne's Square on the first anniversary of the Manchester Arena bombing, in Manchester, Britain, May 22, 2018. REUTERS/Andrew Yates “It was designed to strike at the heart of our values and our way of life, in one of our most vibrant cities, with the aim of breaking our resolve and dividing us. It failed.”
In other events being held in the city, singers from local choirs, including the Manchester Survivors Choir made up of those caught up in the attack, will join together in the city for a mass singalong titled “Manchester Together - With One Voice”.
It echoes a moment when crowds broke into an emotional chorus of “Don’t Look Back in Anger” by Manchester rock group Oasis after a minute of silent tribute days after the bombing.
At the exact time the attack occurred, 10.31 p.m., bells will also ring out across Manchester.
Slideshow (26 Images) Britain is seeking the extradition of Abedi’s brother Hashem from Libya over the attack, although the authorities do not believe a wider network was involved.
The Manchester bombing was the deadliest of five attacks in Britain last year blamed on militants which killed a total of 36 people.
Reporting by Michael Holden; Editing by Kate Holton and Alison Williams
| ashraq/financial-news-articles | https://www.reuters.com/article/us-britain-security-manchester/uk-pm-may-joins-families-to-remember-manchester-pop-concert-victims-idUSKCN1IN0Q8 |
SAN DIEGO, May 16, 2018 /PRNewswire/ -- eSUB , a leading provider of subcontractor mobile and cloud-based project management and labor productivity solutions, is the latest recipient of an Autodesk Forge Fund investment. The investment will accelerate product development for a deeper product integration between the Autodesk BIM 360 construction management platform and eSUB to create a seamless user experience and develop a stronger alignment between the construction project owner, architect, and subcontractors. The investment from Autodesk is part of Series A funding which includes participation from Revolution Ventures.
"Autodesk shares our vision of connecting all construction project stakeholders, and we are thrilled to partner with a worldwide leader in Construction management software to break down the silos within the industry," says Wendy Rogers, president and CEO of eSUB Construction Software. "eSUB has grown tremendously over the years by delivering a cloud-based field data collection and project management platform for subcontractors, a critical stakeholder in the construction project lifecycle responsible for much of the trades work on projects. With the Autodesk investment, we are actively developing a seamless workflow to connect all project stakeholders to reduce errors from critical information loss, information timing, and information accuracy."
eSUB Construction Software's cloud-based mobile platform delivers an integrated suite of point solutions designed for subcontractors including time tracking, daily reports, issues, submittals, change orders, purchase orders, job costs, emails, and more. Additionally, eSUB leverages Autodesk BIM 360 design management and collaboration capabilities to deliver plans and drawings directly to the field user. Learn more about how the current integration between Autodesk BIM 360 and eSUB works.
Benny Baltrotsky, chief strategy officer for eSUB adds, "For more than 50 years, the construction industry has experienced declining levels of productivity. Now is an exciting time as construction companies are beginning to realize the benefits of productivity technology improvements. Our goal at eSUB is to enable subcontractors to leverage technologies—from field data collection tools to Building Information Modeling (BIM)—into one seamless user experience."
Autodesk is a leading provider of 3D design, engineering, and construction software. This is Autodesk's fifth Forge investment in a construction technology company over the past year. Autodesk Forge is a connected developer cloud platform which enables customers to create customized, scalable solutions for engineering, construction and manufacturing challenges. As a continuation of their development efforts and a member of the Forge community, eSUB leverages cloud technologies to push tighter integration between their own internally developed web tools and core Autodesk applications.
"The complexity of construction projects is largely underappreciated by those not earning a living in the building industry," said Jim Lynch, vice president, Construction Product Line, Autodesk. "At any given time, hundreds of subcontractors are hard at work on a project, which requires substantial oversight to avoid logistical nightmares. This investment represents Autodesk's and eSUB's ongoing efforts to reduce risk to people and the project, increase transparency, and improve jobsite accountability."
"Within our company, we utilize many different technologies throughout our operations—from preconstruction, construction, and facility maintenance," says Clint Elliott, owner at Action, Inc . "When we can create levels of integration between different phases of construction, such as with Autodesk and eSUB, the levels of efficiency and collaboration benefits all project stakeholders."
Autodesk and eSUB will be hosting a webinar showcasing how the combined solution connects the field and the office for improved collaboration and document control. Register today for the webinar on May 24, 2018 at 11:00 AM EDT.
About eSUB Construction Software
Founded and headquartered in San Diego, CA, eSUB is the leader of web-based project management and document control software designed specifically for subcontractors in the construction industry. Built on 30-plus years of expertise, eSUB's easy to use, software-as-a service solution helps self-performing contractors increase standardization, accountability and productivity.
Today, thousands of users trust eSUB's platform to manage project communication and collaboration on construction projects worldwide. For more information or to schedule a free demo visit eSUB Demo Request or call 1.800.493.3782.
Autodesk and the Autodesk logo are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries.
CONTACT: Tyler Riddell, 1.858.266.8322, [email protected]
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SOURCE eSUB Construction Software | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/16/pr-newswire-esub-construction-software-receives-autodesk-forge-investment.html |
May 8, 2018 / 7:45 PM / Updated 10 minutes ago Israel orders Human Rights Watch representative to leave, says he urged boycott Reuters Staff 2 Min Read
JERUSALEM (Reuters) - Israel’s interior ministry said on Tuesday it had ordered the representative of Human Rights Watch in the country to leave within 14 days, accusing him of supporting a boycott against Israel.
Human Rights Watch, a New York-based rights organization, said the decision showed that Israel was seeking to suppress criticism of its human rights record, and that it would challenge the decision in court.
Omar Shakir, the group’s Israel and Palestine Director, holds U.S. citizenship. He has denied the accusation against him.
Israel last year initially denied Shakir a work permit, in a move criticized by the United States. It later granted him a one-year work visa.
On Tuesday Israeli Interior Minister Aryeh Deri said he had acted on the recommendation of Gilad Erdan, the minister for strategic affairs, whose department said it had gathered data that Shakir had for years supported a boycott of Israel.
“It is inconceivable that a boycott activist can receive a permit to remain in Israel so that he can act in every possible way against the state. I will use all means to expel such people from the country,” Deri’s statement said.
But Shakir told Reuters: “I have not called for any form of boycott of Israel during my time at Human Rights Watch and the Interior Ministry acknowledged this in its letter to me ... in which they informed me of their decision to deny an extension to my work visa.”
HRW said it supported Shakir.
“This is not about Shakir, but rather about muzzling Human Rights Watch and shutting down criticism of Israel’s rights record,” Iain Levine, program director at Human Rights Watch, said in the statement. Writing by Ori Lewis; Editing by Stephen Farrell and Gareth Jones | ashraq/financial-news-articles | https://www.reuters.com/article/us-israel-palestinians-rights/israel-orders-human-rights-watch-representative-to-leave-says-he-urged-boycott-idUSKBN1I92Z3 |
9:32 AM EDT
Something is happening at Symantec . But exactly what and how it could impact the company is unclear.
In a press release announcing its 2018 Fiscal Year performance on Thursday, Symantec revealed that its Audit Committee of the Board of Directors has launched an internal investigation into a “concerns raised by a former employee.” The committee hired “independent counsel” as part of the investigation and contacted the Securities and Exchange Commission (SEC) to inform the regulatory body about the investigation.
“The Company’s financial results and guidance may be subject to change based on the outcome of the Audit Committee investigation,” Symantec said in its statement.
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Symantec provided no details on what the former employee has said and what it might mean for the company. In a conference call, however, Symantec, one of the top security companies in the technology industry, said that the investigation doesn’t involve a data breach or any problems with its software or services.
Despite sound financial performance during the last fiscal year, which saw revenue jump 21% to $4.8 billion year over year and earnings per share hit $1.74, compared to a 17-cent loss during the previous fiscal year, shareholders appear most concerned about the investigation and its possible implications on the company’s performance. In pre-market trading, Symantec shares were down 30.4% to $20.30.
Symantec didn’t say when the audit committee’s investigation would be completed. The company did, however, caution that it likely won’t be done in time for Symantec to file its 10-K annual report.
Despite the investigation, Symantec declared a quarterly cash dividend of 7.5 cents on Thursday. SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/11/symantec-internal-investigation/ |
May 17, 2018 / 6:40 PM / in 2 hours Canada optimism over pipeline interest may be misplaced: sources Rod Nickel 3 Min Read
WINNIPEG, Manitoba (Reuters) - The Canadian government’s optimism that outside investors would be interested in taking over a Kinder Morgan Canada ( KML.TO ) oil pipeline project if the company pulls out might be misplaced, said energy industry sources and analysts. Canada's Finance Minister Bill Morneau listens to a question during a news conference about the state of the Kinder Morgan pipeline expansion in Ottawa, Ontario, Canada, May 16, 2018. REUTERS/Chris Wattie
Finance Minister Bill Morneau said on Wednesday that Canada was prepared to cover some losses the firm might suffer if the proposed C$7.4 billion ($5.8 billion) expansion of its Trans Mountain line was delayed and predicted “plenty of investors would be interested” in stepping in if need be.
Kinder Morgan Canada has said it will ditch the Trans Mountain expansion by May 31 unless Ottawa dispels the uncertainties over the project, which the provincial government in British Columbia strongly opposes on environmental grounds.
A Canadian energy industry source who was not authorized to speak publicly about the matter said Morneau’s comments about potential new investors were puzzling.
U.S. companies are likely more focused on easing pipeline bottlenecks south of the border and are not interested in taking on the Trans Mountain project, which still faces fierce opposition, the source said. Hundreds of people have been arrested in Burnaby, the British Columbia port where the pipeline ends.
“It doesn’t matter who the owner is, even if it’s the federal government, you’re not getting the grandma off the picket line in Burnaby,” said the source.
A Calgary, Alberta-based oil trader said Morneau’s assurances struck the wrong chord.
“I don’t want the government involved in owning or funding a pipeline. Two governments from now, who knows what they would do with it? Just the wrong message to the industry, really.”
Kinder Morgan Canada already operates the Trans Mountain pipeline and it is unclear whether it would welcome a rival taking over the expansion, or if it would make practical sense.
Although one option might be to let an overseas company to step in, foreign investment in Canada’s energy sector could be a sensitive issue.
Andrew Botterill, national oil and gas leader at Deloitte, which advises energy companies, said investors think Canadian pipelines and other resource projects generally face high political risk.
“That’s the type of risk that makes it very difficult for companies to come in and invest in Canada, when they’re looking globally for stability,” he said.
If outside investors shy away, the obvious option would be for the federal government to look at taking a stake in the expansion or buying it outright.
A source with deep ties to the natural resources sector who was not authorized to speak publicly about the matter suggested Canada’s recently created Infrastructure Bank might be the best way to invest. The agency is open for business but has yet to facilitate financing for any project.
Infrastructure Bank could not be reached for an immediate comment. Additional reporting by Devika Krishna Kumar in New York and David Ljunggren in Ottawa; Editing by Richard Chang | ashraq/financial-news-articles | https://www.reuters.com/article/us-kinder-morgan-cn-pipeline/canada-optimism-over-pipeline-interest-may-be-misplaced-sources-idUSKCN1II2OL |
SUNNYVALE, Calif., May 30, 2018 /PRNewswire/ -- Immersive 3D media technology company Matterport today announced the appointment of Chris Bell as Chief Marketing Officer. In this role, Mr. Bell will leverage his globally recognized experience in technology and content marketing to support the continued growth of Matterport's leading cloud-based 3D reality capture platform, overseeing the implementation of strategies to optimize brand awareness, global marketing activities, demand generation, communications and development of new market segments.
A media-technology industry veteran, Mr. Bell previously served as the head of Worldwide Marketing & Product Management for Apple's iTunes division, where he was responsible for overseeing marketing for iTunes' flagship products across 119 countries in support of a $5-billion+ business.
"As we continue to expand into more industries and more countries, we are thrilled to welcome Chris to our team and look forward to leveraging his unparalleled media technology experience to help us engage our customers and further scale our business globally," stated Matterport CEO Bill Brown. "Chris immediately appreciated Matterport's unique technical innovations and market opportunities, and his passion for helping companies reach their full potential will be valuable to us as we leverage our unique platform to improve how people make decisions about properties through their entire lifecycle."
Matterport has built the world's most advanced platform for quickly and easily creating, understanding and distributing 3D models of real-world spaces. Last week, the company announced that it had reached a milestone, having amassed a library of over one million 3D models of real-world environments – the largest repository of 3D space data in the world – which will fuel the company's use of deep learning algorithms to create the next generation of AI-based computer vision technologies for the digital reconstruction and detailed understanding of physical spaces.
"Throughout my career, I have sought out the rewarding challenge of growing companies that are on the precipice of completely transforming how media is consumed, shared and experienced. Matterport is the next logical step in this progression, with an incredible product line and technology stack that makes creating and using digital 3D models of physical spaces easier, faster, and less expensive than ever before," said Mr. Bell.
Over the past four years, Matterport has experienced quadruple-digit revenue growth and notable market momentum including geographic expansion to EMEA and APAC, and vertical market expansion beyond residential real estate to include multifamily and commercial real estate, architecture, engineering and construction (AEC); insurance; travel and hospitality; and other industries. In 2017, Matterport was named the 26th fastest growing company by Inc.
About Matterport
Headquartered in Sunnyvale, CA, Matterport is creating a True3D™ image of the physical world with its innovative, end-to-end platform for capturing, experiencing, and modifying digital copies of every real-world places on web, mobile devices, AR applications, and VR headsets. The company uses its proprietary machine-vision and deep learning platforms to fuel ongoing product innovation. Matterport's Cameras and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences. Matterport customers have produced over one million 3D spaces across 90 countries; these spaces have been visited nearly 400 million times. More information about Matterport is available at www.matterport.com .
Facebook: https://www.facebook.com/Matterport/
Media Contact:
Alanna Finn
Beckerman
[email protected]
917-822-5087
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SOURCE Matterport | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/30/pr-newswire-matterport-appoints-media-technology-leader-chris-bell-as-cmo.html |
KUALA LUMPUR (Reuters) - A British journalist whose reporting on a financial scandal at a Malaysian state fund stirred opposition that led to the downfall of disgraced former premier Najib Razak arrived in Malaysia on Saturday after the new government tore up an arrest warrant.
FILE PHOTO: A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, in this March 1, 2015 file photo. REUTERS/Olivia Harris/File Photo Clare Rewcastle-Brown, editor of news website Sarawak Report, published details of the alleged transfer of $681 million from 1Malaysia Development Berhad (1MDB) to bank accounts held by Najib.
Najib, who founded 1MDB, has consistently denied wrongdoing.
Born and raised in Sarawak, on the Malaysian side of Borneo island, Rewcastle-Brown had been living in exile after Malaysian authorities issued a warrant for her arrest in 2015, citing activities “detrimental to parliamentary democracy”.
Sarawak Report and Medium.com, a blogging platform which hosted her site, were also blocked in the country.
She returned to Malaysia after learning that the sites had been unblocked and the warrant lifted by the new government led Prime Minister Mahathir Mohamad, who led the opposition to a surprise election victory last week over his erstwhile protege, Najib.
“It was very relaxed at the airport, no problems with immigration,” she told Reuters in a brief phone interview.
“It’s a big sigh of relief from me.”
FILE PHOTO: Malaysia's outgoing Prime Minister Najib Razak speaks at a news conference following the general election in Kuala Lumpur, Malaysia, May 10, 2018. REUTERS/Athit Perawongmetha Since taking office, Mahathir has reopened investigations into 1MDB and Najib’s involvement in the scandal.
Having ruled Malaysia for ten years, Najib was summoned by the anti-graft agency on Friday, while police confiscated truckloads of possible evidence, including jewelry, luxury handbags and cash from premises linked to the former prime minister.
During 2014 and 2015, Sarawak Report published a series of groundbreaking articles, with documents that detailed how money was allegedly siphoned off from 1MDB.
The website also broke the news that former attorney-general Abdul Gani Patail, who was sacked in 2015, had been planning to charge Najib with graft.
Mahathir, who met with Abdul Gani on Tuesday, confirmed the account at a news conference the next day.
Rewcastle-Brown said she had not been invited to meet with the new administration and hoped only to see friends she had not spoken with after she was blocked from entering Malaysia. She is the sister-in-law of former British Prime Minister Gordon Brown.
“It was a tough battle for all of us... the previous administration spent so much time and money trying to get me,” she said.
“But I wouldn’t have done it if I didn’t have a deep down confidence that Malaysia could come through and this could have a good outcome.”
Reporting by Rozanna Latiff; Editing by Simon Cameron-Moore and Kim Coghill
| ashraq/financial-news-articles | https://www.reuters.com/article/us-malaysia-politics-journalist/briton-exiled-for-reporting-on-1mdb-returns-to-malaysia-idUSKCN1IK06C |
May 11, 2018 / 6:25 PM / Updated 12 minutes ago U.S., UAE sign pact to resolve airline competition claims -sources Reuters Staff 1 Min Read
WASHINGTON, May 11 (Reuters) - The United States and United Arab Emirates signed a deal on Friday to resolve U.S. claims that Gulf carriers have received unfair government subsidies, sources briefed on the matter said.
The voluntary agreement, which applies to Etihad and Emirates airline and is expected to be announced next week, is similar to a deal announced in January between the United States and Qatar in which Qatar agreed to release detailed financial information about state-owned Qatar Airways. Since 2015 the largest U.S. carriers have urged the U.S. government to challenge the conduct of the three major Middle Eastern carriers under “Open Skies” agreements. The U.S. airlines contend the Gulf carriers are being unfairly subsidized by their governmentsm with more than $50 billion in subsidies over the last decade. (Reporting by David Shepardson Editing by Leslie Adler) | ashraq/financial-news-articles | https://www.reuters.com/article/usa-airlines-emirates/u-s-uae-sign-pact-to-resolve-airline-competition-claims-sources-idUSL1N1SI1FH |
May 25, 2018 / 2:09 PM / Updated 4 hours ago Vedanta sticks with plan to expand Indian smelter despite deadly protests Krishna N. Das 3 Min Read
NEW DELHI (Reuters) - London-listed Vedanta Resources hopes to restart its copper smelter in a southern Indian city and still wants to double its capacity despite protests demanding its closure that killed 13 people this week, a company executive told Reuters on Friday. FILE PHOTO: A general view shows Sterlite Industries Ltd's copper plant, a unit of London-based Vedanta Resources, in Tuticorin, in the southern Indian state of Tamil Nadu April 5, 2013. REUTERS/Stringer/File Photo
The company’s position comes a day after the state of Tamil Nadu, where the smelter is located, said it was seeking a permanent closure of the plant due to allegations that it pollutes the air and water of the locality.
“We’re not in that stage to look at setting up a plant elsewhere,” P. Ramnath, chief executive of Vedanta’s India copper business, said in an interview.
“We’re confident that we will be able to overcome these issues. It will certainly require a huge effort but I am sure we can hope to restart as quickly as possible.”
The plant, in the coastal city of Thoothukudi, has been shut since late March for maintenance and pending a renewal of its license, even as locals continued largely peaceful protests demanding its permanent shutdown.
The opposition escalated on Tuesday when thousands of people marched towards a local government office on the 100th day of the protest. Ten people died in police firing that day; three more died in subsequent days.
Ramnath said the smelter suffered from a “perception” that it was the most polluting industry in Thoothukudi because of its size, and that support of the local community would be important to restart the plant and double its capacity, as suggested by Vedanta’s billionaire chairman Anil Agarwal.
“Our chairman has said that we need the license to operate, but also we need to build bridges with the local community so that we get their license to operate as well,” he said.
“But at this point of time the atmosphere is very tense, temperatures are high.” LEGAL OPTIONS
The Tamil Nadu Pollution Control Board cut the power to the smelter on Thursday, saying that last week it found the company preparing to resume production without permission.
Ramnath denied the allegation.
“There was no reason for making preparations to restart the plant when we are still under maintenance that happens once in four years,” he said.
Ramnath said the company was considering legal options to get power restored to the smelter, which produces 400,000 tonnes of copper a year.
Around 250,000 tonnes of the output is consumed locally, making up for 36 percent of India’s demand. The rest is exported to countries such as China.
Vedanta wants to double the smelter’s capacity mainly to meet India’s rising copper demand, which Ramnath expects to grow by up to 10 percent annually. The expansion would, however, be delayed from its earlier completion target of late 2019. Reporting by Krishna N. Das; Editing by Sanjeev Miglani and Elaine Hardcastle | ashraq/financial-news-articles | https://in.reuters.com/article/us-vedanta-smelter-executive/vedanta-to-stick-to-ops-in-indian-city-despite-deadly-protests-co-executive-idINKCN1IQ1Z3 |
KARLSHAMN, Sweden, May 2, As previously communicated Johan Westman has been appointed President and CEO of AAK AB.
Johan assumes his position today, May 2, 2018.
This information was submitted for publication at 08:50 a.m. CET on May 2, 2018.
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries – Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK's proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers' skills and know-how together with our own capabilities and mindset for lasting results. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has 20 different production facilities, sales offices in more than 25 countries and more than 3,300 employees. We are AAK – The Co-Development Company.
For further information, please contact:
Fredrik Nilsson
CFO
Mobile: +46-708-95-22-21
E-mail: [email protected]
This information was brought to you by Cision http://news.cision.com
http://news.cision.com/aak-ab/r/johan-westman-new-president-and-ceo-for-aak-ab,c2510309
The following files are available for download:
http://mb.cision.com/Main/871/2510309/833414.pdf
Press release (PDF)
View original content: http://www.prnewswire.com/news-releases/johan-westman-new-president-and-ceo-for-aak-ab-300640898.html
SOURCE AAK AB | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/02/pr-newswire-johan-westman-new-president-and-ceo-for-aak-ab.html |
May 9, 2018 / 11:21 AM / in 14 minutes BRIEF-Sinclair Gives More Information About Agreements To Sell TV Stations For Tribune Deal Close Reuters Staff 1 Min Read
May 9 (Reuters) - Sinclair Broadcast Group Inc:
* SINCLAIR PROVIDES ADDITIONAL INFORMATION ABOUT AGREEMENTS TO SELL TV STATIONS RELATED TO CLOSING TRIBUNE MEDIA ACQUISITION
* SAYS REACHES AGREEMENT FOR MULTI-YEAR RENEWALS OF 34 FOX AFFILIATIONS
* SAYS EXCLUDING STATIONS WHERE CO TO CONTINUE TO SERVICES AFTER DISPOSITIONS, DIVESTED STATIONS ARE BEING SOLD FOR $1.5 BILLION
* SAYS DIVESTED STATIONS SALE ALSO INCLUDES ANOTHER ABOUT $100 MILLION IN RETAINED WORKING CAPITAL THAT WILL CONVERT TO CASH OVER 90-120 DAYS POST CLOSE
* SAYS FOX BROADCASTING IS BUYER OF SOME TV STATIONS THAT TRIBUNE, CO EXPECT TO SELL FOR CLOSE OF CO’S ACQUISITION OF TRIBUNE STOCK
* SAYS INCLUDING TRIBUNE DEAL, AND PRO FORMA FOR EXPECTED SYNERGIES, CO’S 2017, 2018 FREE CASH FLOW EXPECTED TO BE $1.550 BILLION TO $1.575 BILLION
* SAYS FOX AGREED TO PROVIDE CO WITH OPTION TO PURCHASE TELEVISION STATIONS WPWR-TV, KTBC-TV Source text for Eikon: Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-sinclair-gives-more-information-ab/brief-sinclair-provides-additional-information-about-agreements-to-sell-tv-stations-related-to-closing-tribune-media-acquisition-idUSASC0A0XK |
LONDON (Reuters) - More than a third of AstraZeneca shareholders staged a revolt over bonuses at the pharmaceutical company on Friday, following concerns about levels of disclosures and outcomes under the company’s incentive scheme.
FILE PHOTO: The logo of AstraZeneca is seen on a medication package at a pharmacy in London April 28, 2014. REUTERS/Stefan Wermuth/File Photo The rebellion is a blow for Chief Executive Pascal Soriot, who earlier reported first-quarter financial results that missed analysts’ forecasts, but did provide evidence that the company’s new drugs were growing strongly.
“AstraZeneca engaged with its major shareholders during 2017 and is disappointed that enhancements made to remuneration report disclosures and changes to the operation of the annual bonus scheme in response to shareholder feedback have not significantly improved the voting result,” the company said.
The non-binding pay report was endorsed by 65 percent of shareholders at AstraZeneca’s annual general meeting but rejected by 35 percent, representing a sizeable protest vote.
Although Soriot’s pay fell to 9.4 million pounds ($12.7 million) in 2017 from 14.3 million a year earlier, investor advisory group Institutional Shareholder Services, which had recommended voting against the pay report, said a series of high annual bonuses suggested AstraZeneca had set the bar too low.
Soriot told reporters in a post-results conference call that the company was in ongoing discussions with shareholders to address their concerns.
Reporting by Ben Hirschler, editing by Louise Heavens
| ashraq/financial-news-articles | https://www.reuters.com/article/us-astrazeneca-pay/astrazeneca-pay-report-rejected-by-35-percent-of-shareholders-idUSKCN1IJ2CG |
May 23 (Reuters) - CME Group Inc:
* CME GROUP CLEARS FIRST CHILEAN PESO AND COLOMBIAN PESO INTEREST RATE SWAPS
* CME GROUP INC - CME BEGAN OFFERING CLEARING ON COP, CLP AND CHINESE YUAN ON MAY 21 Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-cme-group-clears-first-chilean-pes/brief-cme-group-clears-first-chilean-peso-colombian-peso-interest-rate-swaps-idUSFWN1SU0OV |
CALGARY, Alberta, May 17, 2018 (GLOBE NEWSWIRE) -- Eagle Professional Resources is pleased to announce plans to grow operations in Western Canada. The appointment of a new Vice-President of Strategic Accounts & Client Solutions in Western Canada and a new Calgary Branch Manager is the pivotal start to achieving Eagle’s aggressive growth plan. Morley Surcon has been appointed to the new Vice-President position and Kelly Benson has been promoted to Calgary Branch Manager.
Eagle is putting its aggressive growth plans for Western Canada in hyperdrive with the creation of the new Vice-President of Strategic Accounts & Client Solutions. With an impressive track record for growth, Morley Surcon is ideally positioned to take Eagle’s western operations to a new level. He has been leading Eagle’s western operations since 2006 and has been a key contributor to Eagle’s performance. His expertise is providing innovative solutions to address modern day staffing challenges. He has over 25 years’ experience in sales and management within the IT industry and over 11 years’ experience in contingent workforce management. With his rich industry knowledge and expertise and leveraging Eagle’s industry-leading technology and processes, Morley will play a pivotal role in continuing to grow Eagle’s brand with strategic clients across Western Canada.
Kelly Benson, staffing and talent acquisition expert, is a dynamic, high energy leader with extensive experience in the recruitment and staffing industry. Kelly’s concentrated focus on quality and exceptional customer service compliments Eagle mission “ To provide our clients with the best talent!”. In her new role, she will be responsible for the performance and growth of the Calgary Branch with a focus on leading the sales, recruiting and administrative teams to deliver on the exceptional quality and customer service excellence her clients have come to expect. In addition, she will develop and maintain relationships with Eagle’s key clients ensuring that Eagle is addressing the unique talent needs of Calgary’s top companies – through project-based hiring, contingent workforce management and permanent search.
“The collective experience and knowledge that both Morley and Kelly bring to Western Canada strengthens our western delivery capability,” said Janis Grantham, Eagle’s Chief Executive Officer. “We have a tremendous opportunity to grow our business in western Canada. I am confident that this team has the expertise to meet our aggressive growth plans and lead the western operations on a continued path of growth and success.”
About Eagle
Founded in 1996, Eagle is one Canada's largest and most successful professional staffing companies. A Canadian-owned company with ten (10) offices from coast-to-coast, Eagle specializes in sourcing technology, finance and accounting, and management consulting professionals for contract and full-time positions. Eagle has been named as one of the Best Workplaces in Canada every year since 2015 and is a platinum member of the Canada's Best Managed Companies (every year since 1999). The company has been ISO 9001 certified since June 2006, is a very active advocate within the Canadian staffing industry association (ACSESS & NACCB) and supports many charities. To learn more about Eagle and its network of offices, please visit https://www.eagleonline.com or call toll-free 1-866-78-NESST(63778). Check out Eagle's blog at http://www.eagleonline.com/blog and follow us on twitter @eaglestaffing .
For more information, please contact:
Dan Gasser
Marketing Specialist
Phone: (403) 205-3770, ext. 3247
Toll Free: 1-800- 281-2339, ext. 3247
Email: [email protected]
Source:Eagle Professional Resources Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/globe-newswire-national-staffing-company-invests-in-growing-western-operations.html |
May 17, 2018 / 7:46 AM / Updated 17 minutes ago Focus: In Silicon Valley, Chinese 'accelerators' aim to bring startups home Koh Gui Qing , Salvador Rodriguez 8 Min Read
NEW YORK/ SAN FRANCISCO (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. The surge in the number of China-focused accelerators - which support, mentor and invest in early-stage startups - is part of a larger wave of Chinese investment in Silicon Valley. At least 11 such programmes have been created in the San Francisco Bay Area since 2013, according to the tech-sector data firm Crunchbase.
Some work directly with Chinese governments, which provide funding. Reuters interviews with the incubators showed that many were focused on bringing U.S. startups to China.
For U.S. government officials wary of China’s growing high-tech clout, the accelerator boom reaffirms fears that U.S. technological know-how is being transferred to China through investments, joint ventures or licensing agreements.
“Our intellectual property is the future of our economy and our security,” Senator Mark Warner, the Democratic vice-chairman of the U.S. Senate Intelligence Committee, said in a statement to Reuters about Chinese accelerators. “China’s government has clearly prioritised acquiring as much of that intellectual property as possible. Their ongoing efforts, legal or illegal, pose a risk that we have to look at very seriously.”
The U.S. has already moved to block many Chinese acquisitions in the tech sector, and is considering several measures that could impose sweeping new strictures on Chinese investment in Silicon Valley.
U.S. President Donald Trump’s crackdown down on visas for foreign tech workers and threats of a trade war with China are also changing the landscape.
And to be sure, the Chinese programmes are a small part of the picture; there are 159 accelerators and 70 incubators of all types in the San Francisco Bay area, according to Crunchbase. Yet the accelerators reflect close ties between entrepreneurs, tech investors and top engineering talent in the U.S. and China.
U.S. universities remain a major training ground for Chinese engineers, for example, and U.S. companies such as Microsoft have long had research laboratories in China.
Officials at several China-backed accelerators told Reuters their goal was to help startups gain access to the China market and nurture relationships between entrepreneurs and investors in both countries.
“We are building the door or bridge to the China market,” said Wei Luo, chief operating officer at ZGC Capital Corp, which runs the ZGC Innovation Center.
The centre is backed by Zhongguancun Development Group, an entity funded by the Beijing local government; its name refers to the Zhongguancun neighbourhood, which is sometimes called China’s Silicon Valley.
Accelerators like ZGC “help U.S. entrepreneurs understand China better,” Luo said. CHINA CONNECTION
Ethan Schur, an American entrepreneur and co-founder of Grush, a smart toothbrush that combines brushing with gaming to encourage children to clean their teeth, has teamed up with ZGC and called the partnership “very helpful.”
ZGC helped Grush set up shop in China, Schur said.
“We’re able to meet the manufacturers we want to work with, are trustable, reliable and have a good price,” he said.
For entrepreneurs David Lee and Grace Wang, who founded a ZGC-backed travel planning app called The Explorer.io, running a company that is not well connected to China is bad for business.
“It’s all about collaboration,” said Wang, who was born in China and moved to the United States in 2011 for college before attending graduate school at the University of California Berkeley. “There should be some way where we can help countries grow together and work with each other.”
During a Reuters visit, the ZGC Innovation Center in Santa Clara, in the heart of Silicon Valley, was bustling with tech entrepreneurs of both Chinese and American origin. Since its 2014 opening, the centre has hosted 55 startups and has invested in more than 40.
Other accelerators in the valley that help bring U.S. startups to China include Plug and Play, a non-Chinese accelerator that collaborates with several local Chinese governments; InnoSpring, whose investors include Legend Capital, a unit of Legend Holdings, the parent of computer group Lenovo Group Ltd; and Shanghai Lingang Overseas Innovation Center, which is linked to the Shanghai government.
Jaunt, in which InnoSpring is an investor, has raised more than $100 million in funding. And the Chinese-backed incubator Amino Capital has a stake in Human Longevity, a health data company, which has raised more than $300 million. INTELLECTUAL PROPERTY
Many local governments in China - like their counterparts in the United States - are eager to support startups in the name of economic development.
The accelerators work with companies in fields including artificial intelligence, autonomous driving technology, big data and health sciences.
They often help U.S. companies set up joint ventures or licensing agreements to enter China - the type of deals some U.S. policy hawks have criticized as conduits for transferring intellectual property.
The Shanghai Lingang Overseas Innovation Center will “serve as a broker in technology transfer,” the Shanghai government said in a brief statement on its website in May 2016 to mark the opening of the centre in downtown San Francisco.
There have been no high-profile examples of such theft from companies helped by the Chinese accelerators. But American heavyweights such as Apple, GM and even Michael Jordan have faced fights in China over protecting their intellectual property.
Xiao Wang, co-founder of InnoSpring Silicon Valley, a Shanghai-headquartered accelerator that has invested $3.5 billion in 70 U.S. and 15 Chinese startups in the last five years, said those who believe intellectual property theft is the price for entering need “to understand China better.”
Although China’s protection of intellectual property is not as good as in the United States, it has improved, she said. Risks for startups are outweighed by the benefits of moving into China, which include access to a huge market and a growing pool of talent, Wang said.
Sue Xu, a general partner at Amino Capital, said her firm had invested in more than 130 startups and helped more than 30 percent of them enter China.
“The Chinese market is huge, so the companies we invested in say ‘We won’t stop until we get into the Chinese market,’” she said.
Still, even deals in which U.S. startups gladly welcome Chinese investors concern some policymakers in Washington, D.C.
A study by the Defense Innovation Unit Experimental, which invests in commercial technology on behalf of the U.S. Department of Defense, said in a report in January that Chinese investment in startups hit a record high of $11.5 billion in 2015, or 16 percent of all technology deals that year.
For entrepreneurs like The Explorer.io co-founder Lee, who moved to the United States from South Korea 15 years ago, the hope is that suspicions about Chinese investors will eventually fade.
It is only a matter of time, he said, before people realize that suspicion of Chinese investment is “detrimental for the United States.” Editing by Jonathan Weber and Gerry Doyle | ashraq/financial-news-articles | https://in.reuters.com/article/usa-trade-china-startups/focus-in-silicon-valley-chinese-accelerators-aim-to-bring-startups-home-idINKCN1II0TP |
May 15 (Reuters) - Connecticut Governor Dannel Malloy signed an adjusted budget for the next fiscal year on Tuesday but warned that the state is facing a deficit of nearly $2 billion in fiscal 2020.
The state, which has been grappling with large debt and pension burdens, will have $1.16 billion in its rainy day fund. But that may not be enough to withstand the next recession, Malloy noted.
“Despite these concerns, this budget contains many things to be proud of, it was adopted on time, and I am hopeful that its problems can be addressed,” he wrote in a letter to the General Assembly posted online alongside notification that he had signed the bill.
Lawmakers adjust the spending plan during their legislative session before the start of the second year in the state’s biennial budget process.
Last year, the two-year budget for fiscal years 2018 and 2019 was four months late, leading to chaos for some school districts and social service providers in particular.
Malloy, a Democrat, is not seeking re-election this year after serving two terms in office.
Reporting by Hilary Russ in New York Editing by Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/connecticut-budget/connecticut-governor-signs-budget-adjustment-warns-of-deficit-idUSL2N1SM2CB |
May 31, 2018 / 2:10 PM / Updated an hour ago Pope sends clergy sexual abuse inspectors back to Chile Philip Pullella 3 Min Read
VATICAN CITY (Reuters) - Pope Francis is sending his two top sexual abuse investigators back to Chile to gather more information about the crisis that has hit the Catholic Church there, the Vatican said on Thursday. FILE PHOTO: Pope Francis attends a meeting with faithful of the diocese of Rome at Saint John Lateran Basilica in Rome, Italy May 14, 2018. REUTERS/Tony Gentile/File Photo
Archbishop Charles Scicluna of Malta and Father Jordi Bertomeu, a Vatican official, will concentrate on the diocese of Osorno in southern Chile, seat of a bishop who has been most caught up in the scandal.
A statement said the purpose of the trip, due to start in the next few days, was to “move forward in the process of reparation, and healing for victims of abuse”.
The two prepared a 2,300-page report for the pope after speaking to victims, witnesses and other Church members earlier this year.
On May 18, all of Chile’s 34 bishops offered to resign en masse after attending a crisis meeting with the pope in the Vatican about the cover-up of sexual abuse in the south American nation.
Francis has not yet announced which resignations to accept, if any.
The scandal revolves around Father Fernando Karadima, who was found guilty in a Vatican investigation in 2011 of abusing boys in Santiago in the 1970s and 1980s. Now 87 and living in a nursing home in Chile, he has always denied any wrongdoing.
Victims accused Bishop Juan Barros of Osorno of having witnessed the abuse but doing nothing to stop it. Barros, who was one of those who offered to stand down, has denied the allegations. FILE PHOTO: Archbishop of Malta Charles Scicluna celebrates Mass in Malta October 23, 2017. REUTERS/Darrin Zammit Lupi/File Photo
During his visit to Chile in January, Francis staunchly defended Barros, denouncing accusations against him as “slander”.
But days after returning to Rome, the pope, citing new information, dispatched Scicluna and Bertomeu, who is Spanish, to Chile.
Some of their findings were included in a damning 10-page document that was presented to the bishops when they came to Rome.
In it, the pope said he felt “shame” over the pressure put on people not to carry out full investigations into what had happened, saying some churchmen had been afraid to face their responsibilities and confront “the ramifications of evil”.
It also said documents had been destroyed.
Thursday’s Vatican statement also said the pope was preparing a letter addressed to all Catholics in Chile about the scandal.
In April, the pope hosted three non-clerical victims who said they were abused by Karadima and this weekend he will be meeting with priest who said they were abused by Karadima when they were young. Reporting by Philip Pullella; Editing by Alison Williams | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-chile-abuse-pope/pope-sends-clergy-sexual-abuse-inspectors-back-to-chile-idUKKCN1IW1XK |
ROME (Reuters) - Italy’s far-right League party will not block rapid political solutions that would allow the country to handle possible emergencies, but it wants an election as soon as possible, a source from the party said on Wednesday.
FILE PHOTO: League party leader Matteo Salvini speaks at the media after a round of consultations with Italy's newly appointed Prime Minister Giuseppe Conte at the Lower House in Rome, Italy, May 24, 2018. REUTERS/Tony Gentile “At this point, we will not block rapid solutions capable of managing emergencies, but we must let Italians express themselves again as soon as possible,” the source said.
The source did not explain what was meant by “emergencies”, though financial markets have been in turmoil over the continuing political uncertainty.
Reporting by Sara Rossi, writing by Steve Scherer; Editing by Mark Bendeich
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/us-italy-politics-league/italys-league-says-would-not-block-emergency-solutions-source-idUSKCN1IV15P |
WASHINGTON, May 22 (Reuters) - A U.S. judge on Tuesday ruled that federal law protects a transgender student who fought all the way to the Supreme Court for the right to use a bathroom at a high school in Virginia that corresponded with his gender identity.
U.S. District Judge Arenda Wright Allen rejected a bid by the Gloucester County School Board to dismiss the lawsuit filed by student Gavin Grimm. In doing so, the judge found that Grimm is covered by a federal law that bars discrimination in education. Grimm graduated from high school in June 2017.
Grimm, 19, was born a girl and identifies as male. Grimm had sued the school board to win the right to use the public school’s boys’ bathroom. Grimm argued the school’s refusal violated a federal anti-discrimination law called Title IX of the Education Amendments of 1972 and the U.S. Constitution’s guarantee of equal protection under the law.
The judge said the parties should schedule a settlement conference within 30 days.
Reporting by Lawrence Hurley; Editing by Will Dunham
| ashraq/financial-news-articles | https://www.reuters.com/article/usa-court-transgender/u-s-court-backs-transgender-student-at-center-of-bathroom-dispute-idUSL2N1ST268 |
LEHI, Utah, May 8, 2018 /PRNewswire/ -- Vivint Solar (NYSE: VSLR), today announced financial results for the first quarter ended March 31, 2018.
First Quarter 2018 Operating Highlights
Key operating and development highlights include:
MW Booked of approximately 52 MWs for the quarter. MW Installed of approximately 40 MWs for the quarter. Total cumulative MWs installed were approximately 905 MWs. Installations were 5,813 for the quarter. Cumulative installations were 132,643. Estimated Retained Value increased by approximately $77 million during the quarter to approximately $1.7 billion. Estimated Retained Value per Watt at quarter end was $2.02. Cost per Watt was $3.15, an increase from $2.95 in the fourth quarter of 2017 and an increase from $2.98 in the first quarter of 2017.
Financing Activity
As of March 31, 2018, the company had $200 million in undrawn capacity in the aggregation facility and approximately 29 MWs of available installation capacity remaining in its tax equity funds. Subsequent to quarter end, the company closed a new tax equity partnership with a $101 million commitment that will fund the installation of approximately 64 MWs with a new tax equity investor.
Summary First Quarter 2018 Financial Results
$ amounts in millions, except per share data
Three Months Ended March 31,
2018
2017
YoY
Revenue:
Operating leases and incentives
$
31.1
$
30.4
up 2%
Solar energy system and product sales
37.1
22.7
up 63%
Total Revenue
68.3
53.1
up 28%
Cost of revenue:
Operating leases and incentives
38.7
35.1
up 10%
Solar energy system and product sales
26.0
18.7
up 40%
Total cost of revenue
64.7
53.7
up 20%
Gross profit (loss)
3.5
(0.6)
up 667%
Loss from Operations
(28.1)
(31.1)
up 10%
Net (loss) income
$
(13.0)
$
13.3
down 198%
Net (loss) income per diluted share
$
(0.11)
$
0.11
down 200%
Non-GAAP net loss per share
$
(0.53)
$
(0.50)
down 6%
Note: Totals may not sum due to rounding.
Guidance for the Second Quarter 2018
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements supersede all prior statements regarding projected 2018 financial results.
For the second quarter of 2018, Vivint Solar expects:
MW Installed: 45 to 48 MWs Cost per Watt: $3.05 - $3.13
Earnings Conference Call
Vivint Solar will host an investor conference call and live webcast today, Tuesday, May 8, 2018, at 5:00 p.m. ET to discuss these financial results. To access the conference call, dial 1.866.393.4306 or 1.734.385.2616 for international callers. The conference ID is 233 7889. A listen-only webcast will be accessible on the investor relations page of the company's website at investors.vivintsolar.com/ and will be archived and available on this site until May 31, 2018. Participants should follow the instructions provided on the website to download and install the necessary audio applications in advance of the call. In addition, the earnings presentation slides will be available on the investor relations page of the site by 5:00 p.m. ET along with this press release and the financial information discussed on today's conference call at investors.vivintsolar.com/ .
About Vivint Solar
Vivint Solar is a leading full-service residential solar provider in the United States. With Vivint Solar, customers can power their homes with clean, renewable energy and typically achieve significant financial savings over time. Offering integrated residential solar solutions for the entire customer lifecycle, Vivint Solar designs and installs the solar energy systems for its customers, and offers monitoring and maintenance services. In addition to being able to purchase a solar energy system outright, customers may benefit from Vivint Solar's affordable, flexible financing options, power purchase agreements, or lease agreements, where available. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.
Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including statements regarding Vivint Solar's guidance for Megawatts Installed and Cost per Watt, installation capacity remaining in tax equity funds, growth prospects, and operating and financial results, such as estimates of nominal contracted payments remaining, estimated retained value, and estimated retained value per watt, including the assumptions related to the calculation of the foregoing metrics.
Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to: the availability of additional financing on acceptable terms; changes in the retail price of traditional utility generated electricity; changes in electric utility policies and regulations; the availability of rebates, tax credits and other incentives, including solar renewable energy certificates, or SRECs, and other federal and state incentives; regulations and policies related to net metering; changes in regulations, tariffs and other trade barriers and tax policy affecting us and our industry; our ability to manage growth, product offering mix, and costs effectively, including attracting, training and retaining sales personnel and solar energy system installers; the availability and price of solar panels and other system components, the assumptions employed in calculating our operating metrics may be inaccurate; and such other risks identified in the registration statements and reports that Vivint Solar files with the U.S. Securities and Exchange Commission, or SEC, from time to time. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Solar does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Solar has filed with the SEC for more complete information about the company. These documents are available on both the EDGAR section of the SEC's website at www.sec.gov and the Investor Relations section of the company's website at investors.vivintsolar.com/ .
Vivint Solar, Inc.
Condensed Consolidated Unaudited Balance Sheets
(In thousands)
March 31,
December 31,
2018
2017
ASSETS
Current assets:
Cash and cash equivalents
$
78,466
$
108,452
Accounts receivable, net
18,236
19,665
Inventories
15,790
22,597
Prepaid expenses and other current assets
22,234
34,049
Total current assets
134,726
184,763
Restricted cash and cash equivalents
47,773
46,486
Solar energy systems, net
1,727,479
1,673,532
Property and equipment, net
13,315
15,078
Intangible assets, net
725
862
Prepaid tax asset, net
—
505,883
Other non-current assets, net
41,763
37,325
TOTAL ASSETS
$
1,965,781
$
2,463,929
LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
Current liabilities:
Accounts payable
$
40,751
$
40,736
Accounts payable—related party
529
163
Distributions payable to non-controlling interests and redeemable non-controlling interests
7,501
16,437
Accrued compensation
19,890
20,992
Current portion of long-term debt
13,566
13,585
Current portion of deferred revenue
24,255
41,846
Current portion of capital lease obligation
3,439
4,166
Accrued and other current liabilities
25,989
29,675
Total current liabilities
135,920
167,600
Long-term debt, net of current portion
959,187
925,964
Deferred revenue, net of current portion
11,311
29,200
Capital lease obligation, net of current portion
1,226
1,599
Deferred tax liability, net
356,984
342,382
Other non-current liabilities
12,623
13,674
Total liabilities
1,477,251
1,480,419
Commitments and contingencies
Redeemable non-controlling interests
130,107
122,444
Stockholders' equity:
Common stock
1,153
1,151
Additional paid-in capital
562,962
559,788
Accumulated other comprehensive income
13,694
6,905
(Accumulated deficit) retained earnings
(277,015)
213,107
Total stockholders' equity
300,794
780,951
Non-controlling interests
57,629
80,115
Total equity
358,423
861,066
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
$
1,965,781
$
2,463,929
Vivint Solar, Inc.
Condensed Consolidated Unaudited Statements of Operations
(In thousands, except per share data)
Three Months Ended
March 31,
2018
2017
Revenue:
Operating leases and incentives
$
31,114
$
30,389
Solar energy system and product sales
37,136
22,725
Total revenue
68,250
53,114
Cost of revenue:
Cost of revenue—operating leases and incentives
38,687
35,070
Cost of revenue—solar energy system and product sales
26,045
18,665
Total cost of revenue
64,732
53,735
Gross profit (loss)
3,518
(621)
Operating expenses:
Sales and marketing
11,125
8,818
Research and development
486
896
General and administrative
19,851
20,579
Amortization of intangible assets
136
140
Total operating expenses
31,598
30,433
Loss from operations
(28,080)
(31,054)
Interest expense
16,922
14,721
Other (income) expense, net
(2,261)
276
Loss before income taxes
(42,741)
(46,051)
Income tax expense
18,643
9,401
Net loss
(61,384)
(55,452)
Net loss attributable to non-controlling interests and redeemable non-controlling interests
(48,408)
(68,744)
Net (loss attributable) income available to common stockholders
$
(12,976)
$
13,292
Net (loss attributable) income available per share to common stockholders:
Basic
$
(0.11)
$
0.12
Diluted
$
(0.11)
$
0.11
Weighted-average shares used in computing net (loss attributable) income available per share to common stockholders:
Basic
115,155
110,765
Diluted
115,155
116,398
Vivint Solar, Inc.
Condensed Consolidated Unaudited Statements of Cash Flows
(In thousands)
Three Months Ended
March 31,
2018
2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$
(61,384)
$
(55,452)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization
16,307
14,162
Amortization of intangible assets
136
140
Deferred income taxes
18,969
36,125
Stock-based compensation
2,969
3,922
Loss on solar energy systems and property and equipment
570
2,025
Non-cash interest and other expense
2,007
2,126
Reduction in lease pass-through financing obligation
(687)
(649)
(Gains) losses on interest rate swaps
(2,262)
276
Changes in operating assets and liabilities:
Accounts receivable, net
1,429
(4,481)
Inventories
6,807
(2,115)
Prepaid expenses and other current assets
11,746
27,901
Prepaid tax asset, net
—
(24,181)
Other non-current assets, net
385
(3,861)
Accounts payable
374
641
Accrued compensation
(2,351)
(1,763)
Deferred revenue
(9,083)
2,109
Accrued and other liabilities
(103)
6,473
Net cash (used in) provided by operating activities
(14,171)
3,398
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for the cost of solar energy systems
(72,208)
(75,140)
Payments for property and equipment
(40)
(278)
Proceeds from disposals of solar energy systems and property and equipment
775
171
Net cash used in investing activities
(71,473)
(75,247)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from investment by non-controlling interests and redeemable non-controlling interests
42,771
58,560
Distributions paid to non-controlling interests and redeemable non-controlling interests
(18,122)
(15,027)
Proceeds from long-term debt
40,000
253,750
Payments on long-term debt
(7,748)
(141,159)
Payments for debt issuance and deferred offering costs
—
(10,430)
Proceeds from lease pass-through financing obligation
852
852
Principal payments on capital lease obligations
(1,015)
(1,196)
Proceeds from issuance of common stock
207
147
Net cash provided by financing activities
56,945
145,497
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS, INCLUDING RESTRICTED AMOUNTS
(28,699)
73,648
CASH AND CASH EQUIVALENTS, INCLUDING RESTRICTED AMOUNTS—Beginning of period
154,938
123,439
CASH AND CASH EQUIVALENTS, INCLUDING RESTRICTED AMOUNTS—End of period
$
126,239
$
197,087
Vivint Solar, Inc.
Key Operating Metrics
Three Months Ended
March 31,
December 31,
March 31,
2018
2017
2017
Installations
5,813
6,467
6,581
Megawatts installed
40.4
44.6
45.8
Cumulative installations
132,643
126,830
106,179
Cumulative megawatts installed
905.3
864.9
726.9
Estimated nominal contracted payments remaining (in millions)
$
3,128.2
$
3,021.6
$
2,691.9
Estimated retained value under energy contracts (in millions)
$
1,295.7
$
1,238.0
$
1,068.3
Estimated retained value of renewal (in millions)
$
396.6
$
377.1
$
317.4
Estimated retained value (in millions)
$
1,692.3
$
1,615.1
$
1,385.7
Estimated retained value per watt
$
2.02
$
2.00
$
1.97
Sensitivity Analysis for Retained Value
The following table provides quantitative sensitivity analysis of our estimate of retained value of solar energy systems under contracts as of March 31, 2018, including both the contracted and estimated renewal portion, at a range of discount rates (retained value amounts in millions):
4%
6%
8%
Estimated retained value under energy contracts
$
1,541.0
$
1,295.7
$
1,102.6
Estimated retained value of renewal
617.0
396.6
257.8
Total estimated retained value
$
2,158.0
$
1,692.3
$
1,360.4
Non-GAAP Earnings per Share (EPS) Before Non-controlling Interests
We report GAAP EPS, which is based upon net (loss attributable) income available to common stockholders. We also report non-GAAP EPS. The difference between GAAP EPS and non-GAAP EPS is that non-GAAP EPS is based on net loss, which excludes net loss attributable to non-controlling interests and redeemable non-controlling interests. As we are in a net loss position for all periods reported, potentially issuable shares are excluded from the diluted EPS calculation since the effect would be antidilutive. Therefore, basic and diluted non-GAAP EPS are the same in each period presented.
Under GAAP accounting, we report net loss attributable to non-controlling interests and redeemable non-controlling interests to reflect our joint venture fund investors' allocable share in the results of these joint venture investment funds. Net loss attributable to non-controlling interests and redeemable non-controlling interests is calculated based primarily on the hypothetical liquidation at book value, or HLBV, method, which assumes that the joint venture funds are liquidated at the reporting date, even though liquidation may or may not ever occur. Additionally, the returns that will be allocated to the investors over the expected terms of the investment funds may differ significantly from the amounts calculated under the HLBV method. Accordingly, we also report non-GAAP EPS based on our losses before net loss attributable to non-controlling interests and redeemable non-controlling interests per share, which we view as a better measure of our operating performance. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP.
According to this definition, the non-GAAP loss before the allocation of loss attributable to non-controlling interests and redeemable non-controlling interests per share was ($0.53) for the three months ended March 31, 2018.
Vivint Solar, Inc.
Reconciliation from GAAP EPS to Non-GAAP EPS
(In thousands, except per share data)
Three Months Ended
March 31, 2018
March 31, 2017
Net Loss
EPS
Net Loss
EPS
Net (loss attributable) income available to common stockholders
$
(12,976)
$
(0.11)
$
13,292
$
0.12
Net loss attributable to non-controlling interests and redeemable non-controlling interests
(48,408)
(0.42)
(68,744)
(0.62)
Non-GAAP net loss
$
(61,384)
$
(0.53)
$
(55,452)
$
(0.50)
Weighted-average shares used in computing net loss per share
115,155
110,765
Glossary of Definitions
" Installations " represents the number of solar energy systems installed on customers' premises.
" MWs or megawatts " represents the DC nameplate megawatt production capacity.
" MW Booked " represents the aggregate megawatt nameplate capacity of solar energy systems that were permitted during the period net of cancellations in the period.
" MW Installed " represents the aggregate megawatt nameplate capacity of solar energy systems for which panels, inverters, and mounting and racking hardware have been installed on customer premises in the period.
" Nominal Contracted Payments Remaining " equals the sum of the remaining cash payments that Vivint Solar's customers are expected to pay over the term of their agreements for systems installed as of the measurement date. For a power purchase agreement, Vivint Solar multiplies the contract price per kilowatt-hour by the estimated annual energy output of the associated solar energy system to determine the estimated nominal contracted payments. For a customer lease, Vivint Solar includes the monthly fees and upfront fee, if any, as set forth in the lease.
" Retained Value " represents the net cash flows, discounted at 6%, that Vivint Solar expects to receive from customers pursuant to long-term customer contracts net of estimated cash distributions to fund investors and estimated operating expenses for systems installed as of the measurement date. For purposes of the calculation, Vivint Solar aggregates the estimated retained value from the solar energy systems during the typical 20-year term of Vivint Solar's contracts, which Vivint Solar refers to as estimated retained value under energy contracts, and the estimated retained value associated with an assumed 10-year renewal term following the expiration of the initial contract term, which Vivint Solar refers to as estimated retained value of renewal. To calculate estimated retained value of renewal, Vivint Solar assumes all contracts are renewed at 90% of the contractual price in effect at the expiration of the initial term.
" Retained Value per Watt " is calculated by dividing the estimated retained value as of the measurement date by the aggregate nameplate capacity of solar energy systems under long-term customer contracts that have been installed as of such date, and is subject to the same assumptions and uncertainties as estimated retained value.
" Undeployed Tax Equity Financing Capacity " represents a forecast of the amount of megawatts that can be deployed based on committed available tax equity financing for energy contracts.
Investor Contact:
Rob Kain
855-842-1844
[email protected]
Press Contact:
Helen Langan
385-202-6577
[email protected]
View original content with multimedia: http://www.prnewswire.com/news-releases/vivint-solar-reports-first-quarter-2018-results-300644660.html
SOURCE Vivint Solar | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/pr-newswire-vivint-solar-reports-first-quarter-2018-results.html |
SAN DIEGO, May 31, 2018 (GLOBE NEWSWIRE) -- AbacusNext® , the largest Technology-as-a-Service (TaaS) provider for the professional services sector, announced that it is fully compliant with the rules mandated by the General Data Protection Regulation (GDPR), the European Union’s new regulatory framework for data privacy and protection. GDPR came into effect on May 25 th , 2018 and replaced the 1995 EU Data Protection Directive.
As both a data controller and a data processor handling large amounts of sensitive data for clients all over the world, AbacusNext employees have undergone extensive GDPR training to ensure the company’s compliance with the new rules and to help clients with their own GDPR compliance needs. AbacusNext is committed to assisting its clients and partners with their transition to all data protection regulations initiated by the EU.
“Our clients’ privacy and security are at the heart of everything we do at AbacusNext,” said AbacusNext CEO, Alessandra Lezama. “We welcome GDPR’s more stringent data protection and privacy standards, and as the trusted technology partner to over a million professionals worldwide, we are committed to supporting and assisting our clients with their own regulatory requirements with our portfolio of turnkey compliance and security solutions.”
This announcement represents the culmination of more than a year’s worth of work by the AbacusNext Compliance Team in consultation with outside council Teeple Hall, LLP and international law and compliance specialist Wendy Kennedy, who’s been appointed AbacusNext’s Data Protection Officer (DPO). As DPO, Kennedy has and will continue to help educate employees on GDPR compliance requirements, train staff involved in data processing, conduct internal compliance audits, and serve as the point of contact between AbacusNext and GDPR Supervisory Authorities.
“It’s been a pleasure working with AbacusNext to continue their legacy of data protection compliance for their clients,” said Kennedy. “I look forward to our continued efforts to maintain and expand the robust data privacy and security compliance regime we’ve established over the past year.”
For more information on AbacusNext’s GDPR compliance project, visit abacusnext.com/GDPR , or contact the AbacusNext Compliance Team at [email protected] .
About AbacusNext
As the largest Technology-as-a-Service (TaaS) provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 500,000 businesses worldwide.
About Providence Equity Partners
Providence is a premier global private equity firm with more than $54 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 160 companies and is a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com .
Contact: 858-529-0018 [email protected]
Source: AbacusNext | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/globe-newswire-abacusnext-announces-gdpr-compliance-appoints-data-protection-officer.html |
May 1 (Reuters) - Intelgenx Technologies Corp:
* INTELGENX ANNOUNCES PROPOSED PRIVATE PLACEMENT * INTELGENX TECHNOLOGIES CORP - RECEIVED SUBSCRIPTIONS FOR ISSUANCE OF 300 UNITS AT A SUBSCRIPTION PRICE OF $10,000 PER UNIT Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-intelgenx-announces-proposed-priva/brief-intelgenx-announces-proposed-private-placement-idUSASC09YU6 |
May 15, 2018 / 4:12 AM / Updated an hour ago Modi's BJP, Congress in close fight in Karnataka: early vote count Reuters Staff 2 Min Read
NEW DELHI (Reuters) - India’s ruling party was running neck-and-neck with the main opposition Congress in Karnataka on Monday, an early vote count showed, in an election seen as a measure of Prime Minister Narendra Modi’s popularity ahead of general elections next year. FILE PHOTO: India's Prime Minister Narendra Modi addresses an election campaign rally ahead of the Karnataka state assembly elections in Bengaluru, India, February 4, 2018. REUTERS/Abhishek N. Chinnappa/File photo
Karnataka, now ruled by the Congress party, is home to India’s Silicon Valley capital of Bengaluru. It is the first big state electing an assembly this year and will be followed by three more.
Modi’s Bharatiya Janata Party (BJP) was leading in 76 seats in the elections to the 225-seat assembly in Karnataka, versus 74 for Congress, the Times Now news channel said. Another channel, NDTV, showed the BJP leading in 62 seats and Congress in 63.
Investors are watching the contest closely as they worry a loss for Modi would force him to double down on populist measures, such as extending farm loan waivers a year before the 2019 elections.
If Modi failed to capture the state, that would re-energise Congress under Rahul Gandhi, the fifth-generation scion of the Nehru-Gandhi dynasty that is trying to exploit dissatisfaction over a lack of jobs for young people and rising fuel prices.
Both Gandhi and Modi addressed rallies across the state to drum up support. Slideshow (2 Images) | ashraq/financial-news-articles | https://in.reuters.com/article/india-election/modis-bjp-congress-in-close-fight-in-karnataka-early-vote-count-idINKCN1IG0CM |
New York state attorney resigns after abuse report 1:26am EDT - 01:00
New York state Attorney General Eric Schneiderman resigned on Monday after allegations of physical abuse by four women were reported in an article in the New Yorker magazine.
New York state Attorney General Eric Schneiderman resigned on Monday after allegations of physical abuse by four women were reported in an article in the New Yorker magazine. //reut.rs/2KJQr4M | ashraq/financial-news-articles | https://www.reuters.com/video/2018/05/08/new-york-state-attorney-resigns-after-ab?videoId=424875267 |
in 10 minutes BRIEF-Southcross Energy Partners Reports Qtrly Loss Per Common Unit $0.21 Reuters Staff
May 10 (Reuters) - Southcross Energy Partners LP:
* SOUTHCROSS ENERGY PARTNERS, L.P. REPORTS FIRST QUARTER RESULTS
* SOUTHCROSS ENERGY PARTNERS LP - PROCESSED GAS VOLUMES DURING QUARTER AVERAGED 234 MMCF/D, A DECREASE OF 9%
* SOUTHCROSS ENERGY PARTNERS LP - QTRLY TOTAL REVENUE $156.6 MILLION VERSUS $155.2 MILLION
* SOUTHCROSS ENERGY PARTNERS LP - QTRLY LOSS PER COMMON UNIT $0.21 Source text for Eikon: Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-southcross-energy-partners-reports/brief-southcross-energy-partners-reports-qtrly-loss-per-common-unit-0-21-idUSASC0A1BA |
SANTIAGO, Chile, May 24, 2018 /PRNewswire/ -- Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported earnings today for the three months ended March 31, 2018 of US$113.8 million (US$0.43 per ADR), an increase from US$103.2 million (US$0.39 per ADR) reported for the three months ended March 31, 2017. Gross profit (3) reached US$192.7 million (37.1% of revenues) for the three months ended March 31, 2018, higher than US$177.9 million (34.3% of revenues) recorded for the three months ended March 31, 2017. Revenues totaled US$518.7 million for the three months ended March 31, 2018, representing a slight increase of 0.03% compared to US$518.6 million reported for the three months ended March 31, 2017.
SQM's Chief Executive Officer, Patricio de Solminihac, stated, "Our results for the first three months of the 2018, were positive, the performance seen in our main business lines was strong. The lithium market and lithium prices continue to exceed expectations. In the potassium chloride and potassium sulfate business line, sales volumes were significantly lower, and as indicated before, should be lower than one million metric tons this year. As demand for potassium chloride and potassium nitrate grows, average prices in both of our fertilizer business lines increased compared to average prices reported during the fourth quarter of 2017. A trend we expect to continue during the remainder of 2018. In the SPN market, sales volumes were higher than what we reported during the first quarter of last year as a result of continued demand growth and limited supply from competitors. We are on track to reach 1.5 million tons of nitrates capacity this year. We expect to process about 10-15% more caliche ore this year in Nueva Victoria as part of this major project. As the largest player in this market, with about 50% market share, we will work to have the permits and engineering ready to further expand our capacity if the market demands it."
"We were pleased to see a positive pricing trend in the iodine market, and average prices were significantly higher during the first quarter of 2018 than prices seen during the same period last year. Sales volumes reached 3,200 MT, and we believe we will be able to sell approximately 13,000 MT this year. Our iodine expansion is also on target to reach 14,000 MT of capacity by the end of this year."
"In the lithium market, demand continues to grow at record rates, and total market demand should be over 20% more in 2018 than seen last year. Average prices during the first three months of this year surpassed US$16,000/MT given a tight supply and demand balance. We believe that this price pressure will continue throughout the first half of the year."
Mr. De Solminihac continued by saying, "Given this lithium demand growth, we plan to increase our capacity in Chile in three different stages and continue with the developments of our projects in Argentina and in Australia. As previously disclosed, during 2018 in Chile, we have been working to expand our production from 48,000 to 70,000 MT, with a total capex of US$75 million. We expect this additional 22,000 MT of capacity to be operating by the end of this year. The second stage of the expansion in the Salar de Atacama, in which we will increase production from 70,000 to 120,000 MT (previously 100,000 MT), will be completed in the next 18 months with a total investment of US$200 million. Finally, we will add an additional 60,000 metric tons of capacity to our operations, investing around US$250 million to increase our capacity from 120,000 MT to 180,000 MT. We expect this third stage to be online by early 2021. We believe that with demand growing close to 20% this year and next year, the market will be able to absorb this additional supply. However, we reiterate that we are constantly reviewing market conditions; our strategy is to have the installed capacity to react to the market demand."
For the complete version of this press release, please visit our IR Web site: http://ir.sqm.com/English/investor-relation/default.aspx
About SQM
SQM´s business strategy is to be a global company, with people committed to excellence, dedicated to the extraction of minerals and selectively integrated in the production and sale of products for the industries essential for human development (e.g. food, health, technology). This strategy was built on the following five principles:
ensure availability of key resources required to support current goals and medium and long-term growth of the business; consolidate a culture of lean operations (M1 excellence) through the entire organization, including operations, sales and support areas; significantly increase nitrate sales in all its applications and ensure consistency with iodine commercial strategy; maximize the margins of each business line through appropriate pricing strategy; successfully develop and implement all lithium expansion projects of the Company, acquire more lithium and potassium assets to generate a competitive portfolio.
These principles are based on the following key concepts:
strengthen the organizational structure to supports the development of the Company's strategic plan, focusing on the development of critical capabilities and the application of the corporate values of Excellence, Integrity and Safety; develop a robust risk control and mitigation process to actively manage business risk; improve our stakeholder management to establish links with the community and communicate to Chile and worldwide our contribution to industries essential for human development.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "plan," "believe," "estimate," "expect," "strategy," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company's business outlook, future economic performance, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks, uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those stated in such statements. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the United States Securities and Exchange Commission, specifically the most recent annual report on Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation to update such statements, whether as a result of new information, future developments or otherwise.
View original content: http://www.prnewswire.com/news-releases/sqm-publishes-first-quarter-2018-results-300654144.html
SOURCE Sociedad Quimica y Minera de Chile, S.A. (SQM) | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/24/pr-newswire-sqm-publishes-first-quarter-2018-results.html |
The " Fast Money " traders shared their first moves for the market open.
Tim was a buyer of the iShares MSCI Brazil ETF .
Karen was a buyer of Xerox .
Seaburg was a buyer of Facebook .
Grasso was a buyer of Overstock.com .
Trader disclosure: On May 10, 2018 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AMZA, ACB.TO, APC, APH.TO, BABA, BAC, BX, C, CCJ, CLF, CMG, CRON, CSCO, CX, DAL, DPZ, DVYE, EEM, ERJ, EUFN, EWM, FB, FXI, GE, GILD, GM, GOOGL, GWPH, HAL, INTC, JD, LEAF, MAT, MCD, MO, MOS, MPEL, PAK, PHM, PYPL, RH, RL, SBUX, SQ, T, TIF, TWTR, UA, UAL, VALE, VIAB, VOD, X, XLE, XRT, YNDX, 700.HK. Tim is short IWM, RACE, SPY. Karen Finerman's firm is long ANTM, C, FB, FL, FNAC, GOOG, GOOGL, GLNG, GMLP, INTC, JPM, KORS puts, LYV, SPY puts, SPY put spreads, WIFI. Her firm is short IWM. Karen Finerman is long AAL, BAC, BOT Bitcoin, Bitcoin Cash, Ethereum, C, CAT, DAL, DVYE, DXJ, EEM, EPI, EWW, EWZ, DVYE, FB, FL, GM, GMLP, GLNG, GOOG, GOOGL, INTC, JPM, LYV, KFL, KORS, KORS calls, MA, MTW, SEDG, SPY puts, TACO, WIFI, WFM. Karen Finerman is short TBT calls. Bitcoin and Ethereum are in her kids' Trust. Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Inc. David Seaburg has a financial interest in EDIT. Diamond Offshore: an employee of Cowen Inc. serves on the Board of Directors of Diamond Offshore. Steve Grasso is long stock AAPL, BABA, CAR, EVGN, GE, JCP, MJNA, MON, MTCH, PFE, RAD, SQ, T, TSLA, TWTR, VRX. Grasso owns Callable Trigger contingent yield note linked to SPX, RTY, and MXEA. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. Grasso's firm is long stock AMD, COTY, CTL, CUBA, DIA, F, GE, GLD, GSK, HPQ, IAU, IBM, ICE, LEN, MAT, MJNA, MSFT, NE, QCOM, RIG, SNAP, SNGX, SPY, T, TMUS, UA, WDR, WHR, XRX, ZNGA. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/11/your-first-trade-for-friday-may-11.html |
May 8, 2018 / 7:58 PM / Updated an hour ago China does not want U.N. to push Myanmar on accountability Michelle Nichols 3 Min Read
UNITED NATIONS (Reuters) - China does not want the U.N. Security Council to tell Myanmar that credible, transparent investigations into accusations of violence against mainly Rohingya Muslims are important, according to proposed amendments to a British-drafted statement. Rohingya refugees line the streets as United Nations Security Council convoy passes by, outside Kutupalong Refugee Camp in Cox's Bazar, Bangladesh, April 29, 2018. REUTERS/Kevin Fogarty
The 15-member Security Council is trying to negotiate a press statement following a visit by U.N. envoys to Bangladesh and Myanmar last week to see firsthand the aftermath of a Myanmar military crackdown that Britain, the United States and others have denounced as ethnic cleansing of the minority Rohingya.
Britain wanted the council to state “the importance of undertaking credible and transparent investigations into allegations of human rights abuses and violations” and “continue to support efforts to ensure justice and accountability.”
Its draft statement would also “urge the government of Myanmar to fulfil urgently its stated commitment to holding accountable perpetrators of violence, including sexual violence and abuse and violence against children.” United Nations Security Council envoys arrive at Cox's Bazar airport in Bangladesh, April 28, 2018. REUTERS/Michelle Nichols
However, Myanmar ally China deleted those references in amendments it has proposed to that statement, which must be agreed by consensus. China also proposed welcoming “the efforts taken by the government of Myanmar to improve the situation in Rakhine” state.
Diplomats said negotiations were continuing. United Nations Security Council envoys pose for a photograph with Bangladeshi Prime Minister Sheikh Hasina after their meeting in Dhaka, Bangladesh, April 30, 2018. REUTERS/Michelle Nichols
Rohingya insurgent attacks on security posts in Rakhine in August sparked a military operation that has sent nearly 700,000 Rohingya fleeing to refugee camps in Cox’s Bazar in Bangladesh. Security Council envoys visited those vast camps last week.
They also met with Bangladesh Prime Minister Sheikh Hasina and Myanmar’s de facto leader Aung San Suu Kyi and travelled to Rakhine state, where the violence erupted. Myanmar denies the accusations of ethnic cleansing.
Fleeing refugees have reported killings, rapes and arson on a large scale. Myanmar has said its operations in Rakhine were a legitimate response to attacks on security forces by Rohingya insurgents.
Myanmar military chief Min Aung Hlaing told Security Council envoys, during a two-hour meeting in Naypyitaw, the country’s capital, last week, that less than 2,000 troops were involved in the military operation, according to diplomats, who spoke on condition of anonymity.
The prosecutor of the International Criminal Court (ICC) has asked the court to rule on whether it has jurisdiction over the deportations of Rohingyas to Bangladesh, a possible crime against humanity.
Suu Kyi’s government has expressed “serious concern” over the move at the ICC. Bangladesh is a member of the ICC but Myanmar is not. Rights groups have called on the U.N. Security Council to adopt a resolution referring the situation in Myanmar to the court. Reporting by Michelle Nichols; editing by Clive McKeef | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-myanmar-rohingya-un/china-does-not-want-u-n-to-push-myanmar-on-accountability-idUKKBN1I930T |
May 4 (Reuters) - Caterpillar Inc said on Friday it named Andrew Bonfield chief financial officer, replacing Brad Halverson.
Bonfield, who will take over on Sept. 1, is currently group CFO and board member of National Grid plc, a British multinational electricity and gas utility company. (Reporting by Arunima Banerjee in Bengaluru; Editing by Anil D’Silva)
| ashraq/financial-news-articles | https://www.reuters.com/article/caterpillar-moves-cfo/caterpillar-names-national-grids-andrew-bonfield-as-cfo-idUSL3N1SB40S |
When TV networks decided which shows to put on their fall TV schedules this year, ratings and appeal to advertisers were major considerations, as always.
But other factors are increasingly at play, including whether shows can generate revenue as reruns on streaming services and other digital platforms, or from international sales.
Networks... | ashraq/financial-news-articles | https://www.wsj.com/articles/why-brooklyn-nine-nine-elementary-and-other-tv-shows-with-so-so-ratings-survive-1526641201 |
WASHINGTON (Reuters) - The Federal Reserve on Wednesday will propose changes to the so-called Volcker Rule banning banks from making risky bets with their own cash, kicking off a lengthy effort to rework one of the central rules introduced following the 2007-2009 financial crisis.
Former U.S. Federal Reserve Board Chairman Paul A. Volcker speaks at a news conference in New York, U.S. on June 8, 2015. REUTERS/Mike Segar/File Photo WHAT IS THE VOLCKER RULE? The Volcker Rule is part of the 2010 Dodd-Frank financial reform law. It is named after Paul Volcker, the former Federal Reserve chairman and economic adviser to President Barack Obama, who first conceived it.
Finalized by regulators in 2013, the rule attempts to prevent banks from making risky market bets while accepting taxpayer-insured deposits. The U.S. government lent banks billions of dollars in bailouts stemming from the financial crisis.
The rule addresses concerns similar to those that motivated the Glass-Steagall Act. That 1933 law, repealed in the 1990s, created a legal firewall between commercial banking and investment banking. Big bank critics, including U.S. Senator Elizabeth Warren, have called for its return as a way to curb bank risk.
WHAT ARE KEY FEATURES OF THE RULE? The rule bars banks from engaging in proprietary trading whereby they bet their own cash in pursuit of short-term profits, but offers safe harbors for activities such as facilitating client trades and hedging risks.
The rule also restricts banks’ ability to own or invest in so-called covered funds, such as hedge or private equity funds, in order to restrict their indirect exposure to risk.
WHO OVERSEES THE RULE? The job of writing and implementing the rule falls to five separate regulators who share joint authority: the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission and Commodity Futures Trading Commission.
WHAT DO CRITICS SAY ABOUT THE RULE? Banks have complained that the Volcker Rule is overly complex and its definitions are vague, and that as a result it is excessively burdensome and often has unintended consequences.
The rule is highly unusual in that it assumes a bank is guilty until proven innocent, meaning all short-term trades are considered proprietary unless the bank can prove they qualify for a safe harbor.
However, proving to regulators that a trade qualifies for one of the safe harbors can be extremely taxing, requiring lots of form-filling and documentation. The rule places a strong emphasis on the intention of the trader when placing the trade, a point that banks say is highly subjective, confusing and would require a psychologist to prove.
The rule is also highly extraterritorial, affecting banks’ businesses outside the United States and in some cases the overseas businesses of foreign banks. It also bluntly applies to all institutions above $10 billion in size, even though many smaller banks do very little trading.
Banks also complain about having to meet demands of five regulators which sometimes take opposing positions on enforcement.
HOW IS THE VOLCKER RULE LIKELY TO CHANGE? Regulators are expected to scrap the presumption that short-term trades are proprietary unless banks prove otherwise, make it more clear which types of funds banks are banned from investing in and permanently exempt some foreign funds from the rule.
Regulators are also expected to more closely tailor the application of the rule to the size and complexity of each bank, with smaller banks that do not have active trading operations enjoying more leniency.
Wednesday’s proposal is just the first step in reworking the rule. The other four regulators will also need to sign off on the proposal, receive comments from the public and consider additional changes. Analysts expect it could be months before an edited version of the rule is finalized.
Reporting by Pete Schroeder; Editing by Michelle Price and Meredith Mazzilli
| ashraq/financial-news-articles | https://in.reuters.com/article/usa-fed-volcker-factbox/factbox-federal-reserve-kicks-off-volcker-rule-rewrite-idINKCN1IU2EO |
HONG KONG (Reuters) - From the moment Sardar Azmoun arrived on the international stage and Iran manager Carlos Queiroz compared him to Ruud van Nistelrooy, the pressure has been on the young striker to carry the hopes of the Gulf nation into uncharted territory.
FILE PHOTO: Football Soccer - Qatar v Iran - 2018 World Cup Qualifiers - Doha, Qatar - 23/3/17 - Qatar's Saad Al Sheeb in action with Iran's Sardar Azmoun. REUTERS/Ibraheem Al Omari Azmoun’s spinning turn and deft finish against Qatar in the group phase of the Asian Cup finals in Australia in 2015 came less than a year after he made his debut for Team Melli and prompted Queiroz to liken the then 20-year-old to the Dutch forward.
With Iran hoping for their first foray past the group stage of the World Cup in Russia after four previous unsuccessful tournament appearances, Azmoun is set to be the figurehead of their charge.
Hailing from a sporting family, the 23-year-old eschewed his father’s favored sport of volleyball — Khalil Azmoun had played for Iran’s national team and has coached several of the country’s leading teams — to take up football.
He soon excelled, representing Iran at youth level before moving to Russian Premier League side Rubin Kazan at 18, where he struck up a close relationship with coach Kurban Berdyev.
Azmoun’s talent in the air and with the ball at his feet prompted Berdyev to take him to Rostov and he played there for two seasons, while attracting the attention of clubs from some of Europe’s biggest leagues.
Despite rumors of a possible move to Lazio and elsewhere, Azmoun stayed in Russia and returned to Kazan having featured for Rostov against clubs such as Bayern Munich, Atletico Madrid and Manchester United in European competition.
While seen as the long-term successor to Iran great Ali Daei, Azmoun’s hero is Zlatan Ibrahimovic. With 23 goals in 31 games for Iran to date, Azmoun is on track to match Daei’s scoring record, which helped the country to qualify for the 1998 and 2006 World Cup finals.
Writing by Michael Church, Editing by Christian Radnedge
| ashraq/financial-news-articles | https://www.reuters.com/article/us-soccer-worldcup-irn-star/soccer-iran-youngster-azmoun-carries-the-hopes-of-a-nation-idUSKCN1IM1Q4 |
(Adds latest movements of storm, Maryland flooding)
By Jon Herskovitz
May 27 (Reuters) - Thousands of Florida residents evacuated homes on Sunday as Subtropical Storm Alberto picked up strength as it headed north through the Gulf of Mexico, with forecasters saying it could bring life-threatening inundation to Southern coastal states.
The storm was about 105 miles (165 km) south of Apalachicola, Florida, on the Gulf of Mexico coast as of 8 p.m. EDT (0000 GMT) and was expected to make landfall along the Florida Panhandle on Monday, the U.S. National Hurricane Center said.
Alberto, the first named Atlantic storm of 2018, which spun up days before the formal June 1 start of the hurricane season, was packing maximum sustained winds near 65 miles per hour (105 kph) and was expected to drop as much as 12 inches (30 cm) of rain, slamming an area from Mississippi to western Georgia, the Miami-based hurricane center said.
After that, it will bring powerful winds and heavy rains as it moves into the Tennessee Valley on Tuesday and Wednesday, the hurricane center said. The storm comes during the Memorial Day weekend and was expected to scramble transportation on Monday as many people return from holiday travel.
Isolated tornadoes were possible across the central and northern Florida peninsula on Sunday night, according to the hurricane center, while Alberto was also forecast to bring storm swells of about 2 to 4 feet (60-120 cm) to low-lying areas that were “likely to cause life-threatening surf and rip current conditions.”
There were a number of deadly hurricanes in the United States and Caribbean last year that walloped places including Texas, Florida and Puerto Rico, causing hundreds of billions of dollars in damage, massive power outages and devastation to hundreds of thousands of structures.
Franklin County, in the Florida Panhandle, has issued a mandatory evacuation for its barrier islands in the Gulf of Mexico affecting some 4,200 housing units, while Taylor County, to the east, has a voluntary evacuation order in place for its coastal areas.
Florida Governor Rick Scott, who issued a state of emergency on Saturday in all of the state’s 67 counties, said on Sunday that the Florida National Guard had 5,500 guard members ready to be deployed if needed.
“If evacuations have been ordered in your community, do not ignore them,” Scott said on his Twitter feed.
The National Weather Service has issued a flash flood watch for an area stretching from Mississippi to North Carolina that is home to millions of people.
Alberto’s projected storm track has shifted eastward since Friday, lessening its threat to the active oil production areas in the Gulf of Mexico. Royal Dutch Shell Plc, Exxon Mobil Corp and Chevron Corp have evacuated some personnel from offshore Gulf oil facilities.
A separate storm system on Sunday caused flash flooding in the Baltimore suburb of Ellicott City, Maryland, turning its historic Main Street into a raging river with water reaching past the first floor of buildings and sweeping cars down the road, local news video showed.
Governor Larry Hogan declared a state of emergency for the area rebuilding from a devastating flood about two years ago that killed two people and damaged dozens of buildings.
Reporting by Jon Herskovitz in Austin, Texas; Additional reporting by Rich McKay in Atlanta, Suzannah Gonzales in Chicago and Gary McWilliams in Houston; Writing by Jon Herskovitz; Editing by Daniel Wallis and Peter Cooney
| ashraq/financial-news-articles | https://www.reuters.com/article/storm-alberto-florida/update-1-storm-alberto-closes-in-on-florida-alabama-and-mississippi-idUSL2N1SY04V |
May 18, 2018 / 6:17 AM / Updated 36 minutes ago Lloyds sells Irish mortgage business to Barclays for 4 billion pounds Lawrence White , Maiya Keidan 4 Min Read
LONDON (Reuters) - Lloyds Banking Group ( LLOY.L ) has sold its Irish residential mortgage portfolio to Barclays ( BARC.L ) for around 4 billion pounds ($5.4 billion) in cash, as part of a plan to focus on its core British market. FILE PHOTO: People walk past a branch of Lloyds Bank on Oxford Street in London, Britain July 28, 2016. REUTERS/Peter Nicholls/File Photo
The deal was the last action Lloyds needed to take to complete its exit from the Irish market, following its closure of its retail banking operation there in 2010.
Lloyds is left only with around 4 billion pounds worth of additional Irish mortgages that it will allow to expire over time.
Lloyds will now be able to focus on tackling an increasing threat to its dominant position in the British markets from new entrants eager to cut prices to win business.
Of the assets sold on Friday, 300 million pounds worth are impaired — meaning borrowers are struggling to pay them. They generated a pretax loss of around 40 million pounds last year, Lloyds said in a statement.
A year to the day after its return to private ownership following the British government’s last sale of its stake in Lloyds, Britain’s biggest lender faces a battle to maintain its grip on the mortgage market. UNDER PRESSURE
Lloyds shares have fallen 7.6 percent in its first year free from government ownership after a bailout. That makes them the worst-performing stock among Britain’s four biggest banks with rivals RBS and HSBC climbing an average of 10 percent in the same period.
Investors fear that Lloyds as the biggest mortgage lender, with a market share of 20 percent, has most to fear from a low interest rate environment that makes finding profitable lending opportunities for banks difficult.
“We are concerned about the competition from the mortgage market from new entrants. We think Lloyds has the most to lose; it has the biggest share of the market,” said a U.S.-based hedge fund manager with about $1.2 billion in assets.
The fund manager is shorting Lloyds shares, meaning he will profit if the stock declines.
The threat to Lloyds’ position comes not just from so-called challenger mid-sized banks like Virgin Money ( VM.L ), CYBG ( CYBGC.L ) and Metro Bank ( MTRO.L ), but also from HSBC ( HSBA.L ) which has to grow its market share to meet profit goals in its newly separated UK banking unit.
The rules designed after the financial crisis to partition British banks’ core domestic deposit and savings franchises from their riskier and more internationally-focused investment banking units, have effectively created ‘new’ competitors in the market in the form of British-only lenders such as HSBC UK.
“I do think that Lloyds have some challenges. Competition is heating up. It’s not just an issue for Lloyds,” said Jerry Del Missier, founding partner and chief investment officer at Copper Street Capital, which has $162 million in assets.
“If you think about what’s happening to the UK banking market with ringfencing, you have a number of banks, including challenger banks chasing the same business,” he added. Additional reporting by Simon Jessop and Emma Rumney; Editing by Susan Fenton and Keith Weir | ashraq/financial-news-articles | https://uk.reuters.com/article/us-lloyds-bank-uk-ireland-mortgages/lloyds-sells-irish-mortgage-book-to-barclays-for-4-billion-pounds-idUKKCN1IJ0GV |
May 23, 2018 / 4:23 PM / Updated 27 minutes ago Pompeo says precision-guided missiles, as in Yemen, cut risks to civilians Reuters Staff 1 Min Read
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo said on Wednesday that foreign sales of precision-guided missiles, such as sales to Saudi Arabia, which has been criticized for killing civilians during its campaign in Yemen, can help to reduce civilian deaths.
“It is this administration’s judgment that providing precision-guided munitions actually decreases the risk,” he told a congressional hearing. Reporting by Patricia Zengerle; Editing by Chizu Nomiyama | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-pompeo-arms-saudi/pompeo-says-precision-guided-missiles-as-in-yemen-cut-risks-to-civilians-idUKKCN1IO2KA |
Social stocks reverse course: Twitter, Snap market caps trade places 1 Hour Ago Matt Maley of Miller Tabak and Boris Schlossberg of BK Asset Management discuss Twitter and Snap shares with Sara Eisen. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/30/social-stocks-reverse-course-twitter-snap-market-caps-trade-places.html |
May 9 (Reuters) - Twenty-First Century Fox Inc:
* 21ST CENTURY FOX TO ACQUIRE SEVEN STATIONS FROM SINCLAIR BROADCAST GROUP FOR APPROXIMATELY $910 MILLION
* SAYS SINCLAIR ALSO HAS OPTIONS TO ACQUIRE CW-AFFILIATE WPWR IN CHICAGO FOR POTENTIAL PROCEEDS OF ABOUT $15 MILLION
* SAYS SINCLAIR ALSO HAS OPTIONS TO ACQUIRE FOX-AFFILIATE KTBC IN AUSTIN FOR POTENTIAL PROCEEDS OF ABOUT $160 MILLION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-21st-century-fox-to-acquire-7-stat/brief-21st-century-fox-to-acquire-seven-stations-from-sinclair-broadcast-group-for-nearly-910-mln-idUSFWN1SG0U0 |
April 30 (Reuters) - Blackbaud Inc:
* BLACKBAUD ANNOUNCES 2018 FIRST QUARTER RESULTS * Q1 REVENUE $204.5 MILLION VERSUS I/B/E/S VIEW $204.4 MILLION
* SEES FY 2018 NON-GAAP EARNINGS PER SHARE $2.75 TO $2.88
* Q1 NON-GAAP EARNINGS PER SHARE $0.66
* SEES FY 2018 REVENUE $870 MILLION TO $890 MILLION * Q1 EARNINGS PER SHARE VIEW $0.59 — THOMSON REUTERS I/B/E/S
* REAFFIRMED ITS 2018 FULL YEAR FINANCIAL GUIDANCE * SETS QUARTERLY DIVIDEND OF $0.12PER SHARE Source text for Eikon: Further company coverage: ([email protected])
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-blackbaud-reports-q1-gaap-eps-of-0/brief-blackbaud-reports-q1-gaap-eps-of-0-37-idUSASC09YBW |
TORONTO, May 22, 2018 (GLOBE NEWSWIRE) -- The following issues have been halted by IIROC / L’OCRCVM a suspendu la négociation des titres suivants :
Company / Société : NEMASKA LITHIUM INC. TSX Symbol / Symbole TSX : NMX (All Issues) Reason / Motif : Dissemination / Diffusion Halt Time (ET) / Heure de la suspension (HE) 4:18 PM ET / 16 h 18 (HE) IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
L’OCRCVM peut prendre la décision de suspendre (ou d’arrêter) temporairement les opérations à l’égard d’un titre d’une société cotée en bourse. Les arrêts des opérations sont mis en oeuvre afin d’assurer le bon fonctionnement d’un marché équitable. L’OCRCVM est l’organisme d’autoréglementation national qui surveille l’ensemble des courtiers en placement et l’ensemble des opérations effectuées sur les marchés des titres de capitaux propres et les marchés des titres de créance au Canada.
Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Veuillez prendre note que l'OCRCVM n'est pas en mesure de fournir d'informations supplementaires au sujet d'une suspension des negociations en particulier. L'information est restreinte aux questions generales.
IIROC Inquiries
1-877-442-4322 (Option 2)
Source:Investment Industry Regulatory Organization of Canada | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/globe-newswire-iiroc-trading-halt-suspension-de-la-negociation-par-locrcvm-anmx-all-issues.html |
May 25, 2018 / 8:59 AM / Updated 3 hours ago Oscar winner Danny Boyle to direct next Bond film Reuters Staff 2 Min Read
LONDON (Reuters) - Academy Award winner Danny Boyle will direct the next James Bond film, the movie’s producers said on Friday, with actor Daniel Craig returning for his fifth outing as Britain’s famous fictional spy, the smooth-talking, martini-drinking 007.
Production on the 25th instalment in the Bond movie franchise will begin in December at Britain’s Pinewood Studios. The film will be released in autumn 2019.
In a statement, producers Michael G. Wilson and Barbara Broccoli describe Boyle, who won an Oscar for heart-warming drama “Slumdog Millionaire” and is also known for “Trainspotting” and “Steve Jobs”, as “exceptionally talented”.
Boyle previously worked with Craig on a short film for the opening ceremony at the 2012 London Olympics, in which the actor, as Bond, entered Buckingham Palace, where he was greeted by Queen Elizabeth.
The as-yet-unnamed Bond film’s screenplay will be written by John Hodge, who worked with Boyle on “Trainspotting”.
Craig has played Bond since 2006’s “Casino Royale”. After months of speculation on whether he would reprise the role after 2015’s “Spectre”, the 50-year-old actor confirmed last year he would put on Bond’s tuxedo for a fifth time. Director Danny Boyle poses for photographers at the closing night premiere of the film "Steve Jobs" at the BFI London Film Festival October 18, 2015. REUTERS/Neil Hall/File photo Reporting by Marie-Louise Gumuchian; Editing by Peter Graff | ashraq/financial-news-articles | https://in.reuters.com/article/film-bond/oscar-winner-danny-boyle-to-direct-next-bond-film-idINKCN1IQ0ZO |
(Reuters) - U.S. insurer MetLife Inc ( MET.N ) has entered into an agreement to provide pension benefits for about 41,000 FedEx Corp ( FDX.N ) retirees and beneficiaries through an annuity, the two companies said on Tuesday.
FILE PHOTO: A statue stands atop Grand Central Station in front of the MetLife building in New York, October 8, 2008. REUTERS/Lucas Jackson/File Photo MetLife and FedEx expect to close the deal, which includes about $6 billion in pension obligations, on May 10, they said.
The deal is the first “jumbo-sized” U.S. transfer of pension obligations to an insurer, measured by premium, since 2013, wrote Wells Fargo Securities LLC analyst Sean Dargan in a research note late on Tuesday.
It also marks MetLife’s entry into the market for jumbo-sized transfers, Dargan wrote. The insurer has historically competed for pension transfer deals with less than $1 million in premiums, Dargan wrote.
Some life insurers, including Prudential Financial Inc ( PRU.N ) and MetLife, take over corporate pension plans from companies that want to offload them. The insurers then use a group annuity to make regular payments to the retirees and beneficiaries who are entitled to benefits under those pensions.
These deals, known as pension risk transfers, have been around for at least 90 years, but rising interest rates and stock market values are expected to make it easier for more companies unload their plans to insurers.
In 2017, MetLife disclosed that it had failed to make payments to pensioners whom it could not locate after taking over their plans from private companies. MetLife since been trying to locate the individuals, whom it intends to pay, the company has said.
The deal “is a vote of confidence after MET’s group annuitant issues and charges of the recent past,” Dargan wrote.
FedEx’s purchase of the group annuity contract will be funded by assets of its pension plan, the company said.
The amount of monthly payments to the pensioners will not change, the companies said.
Reporting by Suzanne Barlyn; Editing by Lisa Shumaker and Grant McCool
| ashraq/financial-news-articles | https://www.reuters.com/article/us-fedex-metlife/metlife-to-provide-pension-benefits-to-41000-fedex-retirees-through-annuity-idUSKBN1I9369 |
May 18, 2018 / 3:41 AM / Updated 10 hours ago Ecuador orders withdrawal of extra Assange security from embassy in London Reuters Staff 1 Min Read
QUITO (Reuters) - The president of Ecuador, Lenin Moreno, ordered the withdrawal on Thursday of additional security assigned to the Ecuadorian embassy in London, where WikiLeaks founder Julian Assange has remained for almost six years. FILE PHOTO: Wikileaks founder Julian Assange speaks on the balcony of the Embassy of Ecuador in London, Britain, May 19, 2017. REUTERS/Neil Hall/File Photo
The Australian took refuge in the small diplomatic headquarters in 2012 to avoid sexual abuse charges in Sweden. He rejects the charges and prosecutors have abandoned their investigation.
However, British authorities are still seeking his arrest.
“The President of the Republic, Lenin Moreno, has ordered that any additional security at the Ecuadorian embassy in London be withdrawn immediately,” the government said in a statement. “
From now on, it will maintain normal security similar to that of other Ecuadorian embassies,” the statement said.
Ecuador suspended Assange’s communication systems in March after his pointed political comments on Twitter.
Moreno has described Assange’s situation as “a stone in his shoe.” Reporting by Alexandra Valencia in QuitoWriting by Girish GuptaEditing by Paul Tait | ashraq/financial-news-articles | https://www.reuters.com/article/us-ecuador-assange/ecuador-orders-withdrawal-of-extra-assange-security-from-embassy-in-london-idUSKCN1IJ08X |
NEW YORK (Reuters) - U.S. Secretary of State Mike Pompeo and high-ranking North Korean official Kim Yong Chol have concluded their meetings in New York aimed at clearing the way for a historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, U.S. State Department said on Thursday.
REFILE - FIXING STYLE North Korean envoy Kim Yong Chol poses with U.S. Secretary of State Mike Pompeo during their meeting in New York, U.S., May 31, 2018. REUTERS/Mike Segar Reporting by Lesley Wroughton, David Brunnstrom and Mary Milliken; Editing by Bill Trott
| ashraq/financial-news-articles | https://www.reuters.com/article/us-northkorea-usa-meetings/u-s-north-korea-officials-concluded-new-york-meetings-u-s-state-department-idUSKCN1IW2BX |
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