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May 4, 2018 / 6:18 PM / Updated 38 minutes ago Trump lawyer Giuliani defends legality of porn star payment Roberta Rampton 5 Min Read
WASHINGTON (Reuters) - Hours after President Donald Trump said his lawyer Rudy Giuliani did not have “his facts straight,” the former New York mayor issued a statement on Friday saying $130,000 (£96,000) in hush money paid to an adult-film star before the 2016 election was not an election law violation. FILE PHOTO: Republican presidential nominee Donald Trump walks with former New York City Mayor Rudolph Giuliani (L) through the new Trump International Hotel in Washington, DC, U.S., September 16, 2016. REUTERS/Mike Segar/File Photo
Giuliani on Thursday had connected the payment to Stormy Daniels by the president’s personal lawyer, Michael Cohen, to keep quiet about a 2006 sexual encounter she said she had with Trump to the election, remarks that raised the possibility that the transaction violated federal election law.
“There is no campaign violation. The payment was made to resolve a personal and false allegation in order to protect the President’s family. It would have been done in any event, whether he was a candidate or not,” Giuliani said in a brief statement “intended to clarify the views I expressed over the past few days.”
Giuliani in a TV interview on Thursday wondered what would have happened if Daniels’ claim of an affair had come up in a debate between Trump and his Democratic opponent, Hillary Clinton, adding, “Cohen made it go away. He did his job.”
In comments to reporters at the White House before boarding a helicopter, Trump seemed to undercut Giuliani, a former federal prosecutor who the president recently hired to represent him. Giuliani conducted a series of news media interviews this week that only intensified the controversy involving Daniels, whose real name is Stephanie Clifford, and other matters.
“Rudy is a great guy, but he just started a day ago. But he really has his heart into it. He’s working hard. He’s learning the subject matter,” Trump said.
“He’ll get his facts straight,” Trump added, though he did not specify the statements by Giuliani, who joined the president’s legal team on April 19, to which he was referring.
Giuliani late on Wednesday revealed that Trump had repaid Cohen for the $130,000 the lawyer had provided to Daniels. Trump previously had denied knowing about the payment.
The next morning, Trump said on Twitter that Cohen was paid back through a monthly retainer, not campaign funds, to stop Daniels’“false and extortionist accusations.” 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 “COVERED WRONG”
Asked about the matter on Friday, Trump said, without explicitly mentioning Giuliani, that “virtually everything said has been said incorrectly, and it’s been said wrong, or it’s been covered wrong by the press.”
In his statement on Friday, Giuliani said, “My references to timing were not describing my understanding of the President’s knowledge, but instead, my understanding of these matters,” but did not provide specifics.
Giuliani in an appearance on Fox News on Wednesday had said Trump fired James Comey as FBI director last year because Comey declined to state publicly that Trump was not at the time a target of the agency’s investigation into Russia’s role in the election. Critics have pointed to Comey’s firing as evidence of obstruction of justice by Trump.
In his Friday statement, Giuliani said it was “undisputed” that Trump had the constitutional power to fire Comey and that doing so has turned out to be “plainly in the best interests of our nation.”
The Republican president, facing legal troubles on several fronts, also indicated he would be willing to be interviewed in Special Counsel Robert Mueller’s investigation, but only if he knew he would be treated fairly. Mueller is probing potential collusion between the Trump campaign and Russia and whether the president has unlawfully sought to obstruct the investigation.
“Nobody wants to speak more than me ... because we’ve done nothing wrong,” Trump said.
“I have to find that we’re going to be treated fairly, because everybody sees it now, and it is a pure witch hunt,” Trump added, while incorrectly saying that Mueller, a Republican former FBI director, has a “group of investigators that are all Democrats.”
“If I thought it was fair, I would override my lawyer,” Trump added.
During a pretrial hearing in Virginia on Mueller’s charges against Trump’s former campaign chairman, Paul Manafort, U.S. District Judge T.S. Ellis III openly questioned whether the special counsel had exceeded his prosecutorial powers by bringing the case. Reporting by Roberta Rampton, Tim Ahmann and Susan Heavey; Writing by Will Dunham; Editing by Bernadette Baum and Jonathan Oatis | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-usa-trump-russia/stormy-daniels-payment-did-not-violate-campaign-laws-trump-lawyer-giuliani-idUKKBN1I52B0 |
ST. ALBERT, Alberta, May 10, 2018 (GLOBE NEWSWIRE) -- Enterprise Group, Inc. (the “ Company ” or “ Enterprise ”) (TSX:E), a consolidator of services to the energy sector; focused primarily on specialized equipment rental; today released its Q1 2018 results.
Consolidated: Three months ended
March 31, 2018 Three months ended
March 31, 2017 restated (2) Change Revenue $ 6,810,906 $ 7,015,278 ($ 204,372 ) Gross margin $ 2,126,160 $ 2,695,739 ($ 569,579 ) Gross margin % 31 % 38 % (7 %) EBITDA (1) $ 1,487,253 $ 1,835,990 ($ 348,737 ) Income before tax $ 290,616 $ 210,495 $ 80,121 Net income (loss) and comprehensive income (loss) $ 3,190,242 ($ 50,627 ) $ 3,240,869 EPS $ 0.06 $ 0.00 $ 0.06 (1) Identified and defined under “Non-IFRS Measures”.
(2) In March 2018, the Company closed a transaction to divest substantially all the assets of CTHA. The net operations of CTHA, including the prior period, are presented as a single amount in the consolidated statements of income (loss) and comprehensive income (loss).
Revenue for the three months ended March 31, 2018 of $6,810,906 is relatively consistent with the prior period with a slight decrease of $204,372 or 3%. The Company continues to see increased activity. However, with no construction work completed in the first quarter of 2018 on a major construction project in Northeastern B.C., the increased activity experienced with other customers did not fully offset the loss of revenue earned in the first quarter of 2017 associated with that project. Although this project has received government approval to continue, no construction work was completed in the first quarter of 2018. Enterprise recently responded to bids for the supply of specialized equipment to support construction work that will take place in 2018.
Gross margin for the three months ended March 31, 2018 of $2,126,160 or 31%, decreased compared to the prior period and EBITDA for the same period decreased by $348,737 to $1,487,253. The decreases in gross margin and EBITDA are consistent with decreased revenue associated with the major construction project described above. Also, as explained above, the revenue earned from increased customer activity that partially offset the lost revenue from that project, was at lower margins compared to the prior period.
In March 2018, the Company closed a transaction to divest substantially all the assets of Calgary Tunnelling & Horizontal Augering Ltd. (“CTHA”). CTHA provided specialized trenchless solutions for the energy, utility and infrastructure industries. Gross cash proceeds from the transaction was $20,694,992. Enterprise will utilize tax assets and tax losses to offset the gain on this transaction to minimize cash tax payable. All proceeds from the transaction were deployed towards reducing the Company’s debt.
During 2017, the Company integrated and upgraded its financial and reporting systems along with its rental fleet tracking and deployment system. Immediate efficiencies and cost savings were experienced after implementing these systems. Further enhancements to these systems continue and during the first quarter of 2018 the Company deployed a proprietary asset tracking and dispatch software called “Star”. The software is comprised of multiple components that work together and exchange information over a central data base. Star allows the fleet manager the ability to ensure the highest level of service to the client, while lowering costs and delivering maximum equipment performance.
Over the last 2 years, the Company has made significant improvements to its statement of financial position and overall total debt. At March 31, 2018, after adjusting for goodwill and deferred taxes, the Company has assets in excess of total debt of approximately $54,000,000. Enterprise will continue to look for opportunities to improve its financial position and opportunities that will allow the Company to diversify and expand.
StarChain Update
Development on the StarChain technology continues. Enterprise’s technology development group is currently performing infield testing with success. Management expects to offer its customers specialized equipment capable of several remote controllable features in H2 of 2018. The Company’s equipment offerings will enable its customers to automate and/or schedule the performance of the equipment which optimizes usage, delivering several benefits such as; reduced fuel expenses, lowering onsite maintenance costs, real-time reporting among many others.
About Enterprise Group, Inc.
Enterprise Group, Inc. is a consolidator of services to the energy sector. The Company’s focus is primarily on specialized equipment rental. The Company’s strategy is to acquire complementary service companies in Western Canada, consolidating capital, management, and human resources to support continued growth. More information is available at the Company’s website www.enterprisegrp.ca . Corporate filings can be found on www.sedar.com .
For questions or additional information, please contact:
Leonard Jaroszuk, President & CEO, or
Desmond O’Kell, Senior Vice-President
780-418-4400
[email protected]
Forward Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company’s future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
Non-IFRS Measures
The Company uses International Financial Reporting Standards (“IFRS”). EBITDA is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains references to EBITDA. This non-IFRS measure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Company’s principal business activities prior to consideration of how those activities are financed or how the results are taxed. EBITDA is calculated as net income excluding depreciation, amortization, interest, taxes and stock based compensation.
Source:Enterprise Group, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-enterprise-group-announces-results-for-first-quarter-2018.html |
Expat Brits in NY cheer for the royal couple at viewing party 6:04pm BST - 01:35
A rainy day in New York didn't keep people from celebrating Britain's glittering royal wedding. Rough Cut (no reporter narration).
A rainy day in New York didn't keep people from celebrating Britain's glittering royal wedding. Rough Cut (no reporter narration). //reut.rs/2wXu4WQ | ashraq/financial-news-articles | https://uk.reuters.com/video/2018/05/19/expat-brits-in-ny-cheer-for-the-royal-co?videoId=428465530 |
NEW YORK, May 15 (Reuters) - New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management LLC, Jana Partners LLC and Caxton Corp all remained unexposed to the metal.
The timing for Paulson appeared propitious given that during the first three months of the year, gold prices climbed slightly, though remained hemmed in a narrow trading range as selling pressure from rising U.S. interest rates and a strong U.S. dollar competed with support from geopolitical tensions.
Paulson & Co slightly decreased its stake in SPDR Gold Trust to 4.3 million shares in the first quarter of 2018 from 4.36 million shares the prior quarter. However, the value of the shares increased to $543.4 million from $539.1 million, a U.S. Securities and Exchange Commission filing showed on Tuesday.
SPDR Gold Trust is the world’s biggest gold exchange-traded fund.
Paulson also left stakes unchanged in mining company AngloGold Ashanti Ltd though the value decreased by the end of the first quarter from the end of the fourth quarter.
Stakes in IAMGOLD Corp held by Paulson dropped from 3.9 million shares worth $22.5 million in the fourth quarter of last year to 3.2 million shares worth $16.4 million in the most recent filing.
Paulson kept shares in RandGold Resources Ltd and NovaGold Resources Inc unchanged, but the value of the latter increased from $86.4 million to $95.2 million in the first quarter of 2018.
During that period, spot gold prices rose about 1.7 percent, yet stayed within a tight trading range. Gold drew support from safe-haven buying related to geopolitical concerns including U.S.-China trade tensions and as the United States and European Union moved to expel Russian diplomats over accusations that the Kremlin played a role in poisoning a former Russian spy on British soil.
Pressure on gold came from a stronger U.S. dollar, talk of rising interest rates and strengthening global equities.
Gold is highly sensitive to rising U.S. interest rates because it does not bear interest. Since it is priced in the U.S. dollar, a stronger greenback makes bullion more expensive for holders of other currencies.
Meanwhile, CI Investments Inc, the investment arm of Toronto-based CI Financial Corp decreased its holdings in SPDR Gold Trust.
Its stake in Barrick Gold Corp was unchanged at 312,762 shares, but those dropped in value. CI Investments also decreased its holdings in Randgold Resources Ltd. (Reporting by Renita D. Young in New York Editing by Jennifer Ablan and Matthew Lewis)
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/investment-funds-gold/paulson-keeps-stake-in-gold-investments-during-1st-qtr-filing-idUSL2N1SL1W2 |
A former investment banker with limited political experience — this was how many described Emmanuel Macron at the start of his bid to become the next president of France.
But a year after his election victory, Macron has become a symbol for much needed change.
"In contrast to his predecessor Francois Hollande, who struggled to be seen as an equal partner with (German Chancellor) Angela Merkel , Mr Macron has rebalanced the Franco-German partnership," Emily Mansfield, France analyst at the Economist Intelligence Unit, told CNBC via email.
"He hosted Vladimir Putin at Versailles, taking an assertive line that went down well with the public; and has built a relationship with Donald Trump that has made him the go-to spokesperson for Europe in the U.S.," she added.
Macron has been positioning himself close to Trump, without supporting his policies. He invited the U.S. president to the celebrations of France's national day last year, the first for Macron as president. More recently, Macron visited the U.S. in late April where several handshakes and hugs caught the attention of the global media.
show chapters Tree planted by Trump and France's Macron mysteriously disappears 12:08 PM ET Mon, 30 April 2018 | 00:45 Macron "has also championed efforts to combat climate change around the world, including in China, and is increasingly acting as a power broker in the Middle East," Mansfield added.
"The result is that France now appears more of a major player in international affairs than it has done for some years," she added.
Most of Macron's efforts to position France as a global player have taken place at the European level. In September, Macron addressed the Sorbonne University — laying out a clear vision for the future of the euro area.
"He changed the sentiment on France and on the European Union," Vincent Juvyns, a global market strategist at J.P. Morgan Asset Management, told CNBC over the phone. "Investors are no longer short on the euro ," he added.
The European challenge The clarity and the renewed impetus on euro zone reform that Macron provided during the Sorbonne speech brought more confidence toward the region. Markets become more positive that the euro zone will implement more fiscal measures and somewhat relieve the burden on the European Central Bank and its large stimulus measures.
However, some argue that Macron has been too ambitious and he will find it hard to get all his ideas approved by European counterparts.
"Efforts to reform Europe were always going to be difficult, and this is the area in which he has made the least progress so far," Mansfield from the EIU said.
"There is still much concern in Germany about greater risk-sharing in Europe, and we do not expect this to change under the new government," she added.
"Overall very positive, Macron doesn't mind to sacrifice political capital to reform the French economy." -Ricardo Garcia, Chief euro zone economist, UBS Despite a conservative stance from the Germans, Macron has agreed with Merkel that the euro zone needs reform. Their two finance ministers gave a joint press conference in late April promising to come up with measures to strengthen the region, together.
Olaf Scholz, the German finance minister, said: "Germany and France are really working on this task … We are absolutely optimistic that we will succeed."
Such euro zone reform proposals are expected to be presented in June, but it remains to be seen how far policymakers will go. Speaking at an event in London, in April, the Governor of the Bank of France, Francois Villeroy de Gaulhau, told the audience that people should never bet against Macron nor his willingness to make changes.
Reforms, reforms, reforms Nonetheless, Macron has struggled to be popular at home, according to several opinion polls. In March, his popularity levels dropped to their lowest point, 40 percent, since he took office. At the time, several protesters hit the streets across France. Public sector workers rallied against potential reforms in their sectors, including reducing the number of employees and the start of merit-based pay.
Nicolas Liponne | NurPhoto | Getty Images Demonstration of railway workers, students and members of the public service against government reforms in Lyon, France, May 3, 2018. More recently, Macron's fight has been with the national railway service, SNCF. Macron wants to change the legal status of the company, which is state owned, to become what is described as a limited company. Workers and trade unions fear the move will slowly lead to the privatization of the company. However, overall public opinion is supportive of Macron, hoping for cheaper rail tickets and more reliance on the service.
"When he became president he had a plan of several things we would work on and he is working on them one after the other," Lars Machenil, chief financial officer of BNP Paribas, told CNBC about the president's first year in office.
Macron has also managed to put through measures to increase transparency in parliamentary funding, to reduce wealth taxes in an attempt to make France more business friendly, as well as to liberalize the country's labor market.
show chapters Macron is a pragmatic, pro-business guy, union boss says 11 Hours Ago | 02:54 "This final measure was one of the flagship elements of Mr Macron's program, and his success in passing it last September — despite public and trade union opposition — was a symbolic early achievement in delivering on his campaign promise to 'unblock France'," Mansfield said.
The labor market reform included changes to collective bargaining, which allows firms to negotiate salaries and working conditions with their own employees, without following rules applied to the entire sector. These changes also sparked several street protests organized by opposition parties and trade unions in different occasions throughout 2017.
According to Juvyns, from J.P. Morgan Asset Management, the labor market reform could have been even more ambitious.
However, "in one year, Macron has already done a lot for what he promised," Juvyns told CNBC.
Other analysts also told CNBC that Macron has managed to achieve a lot in his first year, but there's space for further improvements, mainly in the still-rigid labor market.
Ludovic Marin | Pool | Reuters French President Emmanuel Macron delivers a speech at the Sorbonne in Paris, France, September 26, 2017. Ricardo Garcia, chief euro zone economist at UBS, said: "We had reforms also with the prior government, but Macron's reform efforts is in particular broader. I didn't see so many reforms within only one year with the prior government."
He added: "The Achilles heel remains the size of the government as well as labor market flexibility. Macron has tackled these, but more remains to be done."
Follow CNBC International on Twitter and Facebook . | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/07/macron-first-year-in-office-.html |
May 20, 2018 / 3:39 PM / Updated 2 hours ago Britain yet to renew visa of Russian billionaire Abramovich - sources Reuters Staff 2 Min Read
MOSCOW/LONDON (Reuters) - British authorities, whose relations with Moscow have been strained, are yet to renew Russian billionaire Roman Abramovich’s visa after it expired last month, two sources familiar with the matter told Reuters. Britain Football Soccer - Chelsea v Sunderland - Premier League - Stamford Bridge - 21/5/17 Chelsea owner Roman Abramovich applauds fans after winning the Premier League Reuters / Hannah McKay Livepic EDITORIAL USE ONLY. No use with unauthorized audio, video, data, fixture lists, club/league logos or "live" services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. Please contact your account representative for further details.
Abramovich, best known in Britain as the owner of Premier League football club Chelsea, is in the process of renewing his visa as part of a standard procedure, one of the sources said.
It is taking longer than usual but there is no indication that the visa will not be renewed as there is no refusal or negative feedback, he added.
Millhouse, the company which manages Abramovich’s assets, declined to comment. Britain’s Home Office could not be reached for comment.
Abramovich did not attend Saturday’s FA Cup final in London, the showpiece end to the English football season when Chelsea beat Manchester United. It was not clear where he is currently staying.
Relations between Britain and Russia hit a low after London accused Moscow of poisoning former double-agent Sergei Skripal in Britain in March, prompting countries around the world to expel scores of Russian diplomats. Russia has denied any involvement in the poisoning and retaliated in kind.
Abramovich made his fortune in the oil industry in the 1990s in Russia and bought Chelsea in 2003 since when he has helped to transform the club into one of the most successful in the Premier League. Reporting by Polina Devitt in Moscow and Elizabeth Piper in London; Editing by Keith Weir | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-britain-russia-abramovich/britain-yet-to-renew-visa-of-russian-billionaire-abramovich-sources-idUKKCN1IL0M4 |
Passive investing hums with activity as ETFs evolve
The demand for alternatives in the form of hedge funds also has moderated in the past two years, though the interest picked up marginally last year. After seeing outflows of $112 billion in 2016, the hedge fund universe took in $9.8 billion in new assets last year and managed a record high of more than $3.2 trillion at the end of December, according to data from Hedge Fund Research.
While several large institutional investors — most notably, the California Public Employees' Retirement System — abandoned hedge fund investing programs in the last few years because they were too costly and complicated to manage, many large institutions remain committed to the asset class.
The industry also has had to improve its offering in terms of cost. The "Two And Twenty" compensation model for hedge funds (2 percent of assets and 20 percent of profits) has gone by the wayside for all but the best performers. Institutions and high-net-worth investors are much more apt to negotiate hard on fees for hedge funds now.
The interest is still there, however.
"We still see consistent growth across investor groups," said Matt Jiannino, head of Quantitative Equity Product Management at Vanguard. "Some are interested for diversification purposes, others for risk reduction or return enhancement."
Vanguard's Quantitative Equity Product Management group manages $38 billion across a number of funds predominantly running market neutral and long/short equity strategies. They are marketed to institutions and financial advisors and are intended to diversify the risks of holding bonds and cash. The funds are accessible to individual investors, with most having a minimum investment threshold of $3,000.
With interest rates rising and the stock market increasingly volatile, Jiannino sees the demand for alternative investing strategies picking up. "Equity and fixed-income return expectations are low, and people are looking for ways to diversify their returns," he said. Sign Up for Our Newsletter Your Wealth Weekly advice on managing your money SIGN UP NOW Get this delivered to your inbox, and more info about about our products and service. Privacy Policy .
Cost remains an issue in the liquid alternative funds market. The average fee for 1,645 alternative funds tracked by Morningstar Direct was 1.58 percent at the end of last year. Those costs are trending down, however, as demand for the funds has dropped and lower cost ETFs (average expense ratio 0.87 percent) become more popular with investors.
"A lot of these products tend to be high cost, and how much you pay can be crucial to the investment outcome," said Jiannino. As with hedge funds, the onus is on investors to do their research on both the costs and the risks being run in alt funds.
The collapse and liquidation of the $1.6 billion XIV exchange-traded note run by Credit Suisse in early February is a case in point. The vehicle made hay shorting futures on volatility (VIX contracts) last year but lost 90 percent of its value in the space of a few days when volatility spiked in February. The vehicle — since shut down — was intended for active traders.
Morningstar currently tracks eight separate categories for alternative funds. They range from long/short equity funds that buy some stocks and short others, to managed futures that typically follow trends in commodities and futures markets, to multialternative strategies that combine various investing strategies. None of the strategies have outperformed the stock market for any length of time since the financial crisis, and they won't going forward if the market finds its feet again.
If the bull markets in stocks and bonds are over, however, an allocation to alternative funds could soften the blow. Just make sure you know what you're getting into.
"Investors need to understand the leverage used in a fund and the discipline of its investing strategy," said Morningstar's Ictel. "Alternative funds are more complex, and they're not for people who don't like doing research."
— By Andrew Osterland, special to CNBC.com Andrew Osterland Special to CNBC.com Fixed Income Strategies | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/07/interest-in-alternative-investments-drying-up.html |
Top U.S. cryptocurrency exchange Coinbase announced it would acquire trading platform Paradex in the start-up's latest attempt to stay ahead in an increasingly competitive crypto economy.
The San Francisco-based company, which landed at the No. 10 spot on the 2018 CNBC Disruptor 50 list, is also overhauling its flagship trading platform GDAX designed for professional investors. GDAX and the new product, Coinbase Pro, will exist side-by-side until June 29 when all customers will be rolled over to the newer version.
Paradex will be integrated into that new product in the coming weeks, the company said.
"This will significantly enhance the proposition for our customers in terms of what they want to trade and how they want to trade it," Asiff Hirji, Coinbase president and chief operating officer told CNBC's " Fast Money " Wednesday.
show chapters Coinbase launches new products for retail & institutional crypto investors 21 Hours Ago | 09:30 A key distinction between Paradex and other exchanges is that it does not hold tokens on behalf of its customers. Users instead trade peer-to-peer, directly from their own "wallets." Coinbase in contrast, acts as a trusted custodian for digital assets on its exchange.
"This peer-to-peer trading removes the need for third-party custodianship and the associated security risks," Coinbase said in a blog post. "It is another step toward creating a truly decentralized crypto economy."
Paradex's platform offers hundreds of digital tokens for trading, while Coinbase notoriously only offers four. Initially, only customers outside of the U.S. will have access to the new exchange but Coinbase said it's "actively working toward" regulatory clearance for the product in the U.S.
"As soon as we can we're going to turn it on in the U.S," Hirji said. "We're greatly increasing the number of things you can trade and we're doing it in a compliant way."
Some U.S. exchanges have been cautious about listing ICO tokens because of concerns that they might be considered unregistered securities and could require platforms that list them to be licensed by regulators. In March the U.S. Securities and Exchange Commission warned investors that platforms offering trading of digital assets that are securities and operate as an "exchange" must register with regulators.
Hirji said Coinbase would like to list "as many assets as possible," but despite increased discussions with regulators, the company has not gotten increased guidance.
"As soon as there is more clarity we will list them as long as they adhere to our framework," Hirji said. "But clarity is needed and I don't think we're close to that unfortunately."
Coinbase has traded $150 billion in assets for more than 20 million customers and had a reported revenue last year of $1 billion as the price of bitcoin skyrocketed. While the company is best known as the leading U.S. cryptocurrency trading platform, Coinbase has been pouring money into plans to stay ahead in a larger cryptocurrency economy.
The company is looking to lure institutional investors, a group that have been especially careful when entering the volatile cryptocurrency market. Coinbase launched four new products last week: Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime to cater to the "white glove" investors.
Like GDAX, Coinbase Pro customers will have access the single pool of liquidity shared by all Coinbase products. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/23/coinbase-acquires-trading-platform-paradex.html |
May 31, 2018 / 6:01 PM / Updated 39 minutes ago U.S. steel tariffs a concern as G7 finance ministers meet in Canada Andrea Hopkins , David Milliken 3 Min Read
WHISTLER, British Columbia (Reuters) - A U.S. move to impose tariffs on aluminium and steel imports from Canada, Mexico and the European Union overshadowed a gathering of G7 finance ministers and central bankers on Thursday, amid fears a trade war will imperil global economic growth. U.S. Treasury Secretary Steven Mnuchin speaks during a reception hosted by the Orthodox Union in Jerusalem ahead of the opening of the new U.S. embassy in Jerusalem, May 14, 2018. REUTERS/Ammar Awad
The meeting of top financial policymakers from the Group of Seven industrialized nations in Canada is set to focus on reducing income inequality, but trade concerns have made U.S. Treasury Secretary Steven Mnuchin the top target for bilateral complaints and lobbying from disgruntled allies.
The United States on Thursday said it was moving ahead with imposing the steel and aluminium tariffs, ending months of uncertainty about potential exemptions and sending a chill through financial markets.
Concern about Trump’s hardening approach to trade dominated the discussion panel as top policymakers from the United States, Britain, Germany, France, Italy, Japan and Canada gathered in the alpine village of Whistler, British Columbia, Canada.
“(Trade) is not our direct responsibility. But ... this focus on goods trade, bilateral goods is not the right focus in a hyperconnected world where most of the economic activity, most people work, most small businesses, most women work in the service sector,” Bank of England Governor Mark Carney said.
“If we were to liberalize services to the same degree as we have liberalized (trade in) goods, these balances would be cut in half for the United States and for the UK,” he added.
International Monetary Fund Managing Director Christine Lagarde said if trade is “massively disrupted,” the level of public trust in leaders will be severely damaged.
“First of all, those who will suffer most are the poorest, the less privileged people, those who actually rely on imported goods to have their living,” she said, adding that longstanding supply chains also would be disrupted.
The three-day finance leaders’ meeting is set to conclude on Saturday, but U.S. moves on trade policy, which also include potential tariffs and investment restrictions on China and a national security probe that could lead to tariffs on auto imports, are expected to also dominate the G7 summit of world leaders in Quebec next week.
“Facing up to the rise of counterproductive nationalism is a major issue that the G7 cannot avoid,” former Canadian prime minister Paul Martin told the panel. Additional reporting by David Lawder and David Milliken; editing by Clive McKeef | ashraq/financial-news-articles | https://in.reuters.com/article/g7-summit-finance/u-s-steel-tariffs-a-concern-as-g7-finance-ministers-meet-in-canada-idINKCN1IW2NR |
May 5, 2018 / 2:07 PM / Updated 3 hours ago Afghan forces, Taliban battle for control of highway in Ghazni province Reuters Staff 2 Min Read
KABUL (Reuters) - At least 31 Taliban militants were killed by Afghan security forces backed by U.S. air strikes in Afghanistan’s central Ghazni province, as the Afghan army battled to protect a key highway, officials said on Saturday.
Mohammad Arif Noori, the spokesman for the provincial governor, said the militants were planning to wrest control of an arterial road and had attacked many security check posts.
“With the help of U.S. air forces, the Taliban militants have been pushed back from the areas near Ghazni-Paktika highway, but the road is still closed due to serious damages caused by the Taliban,” said Noori.
During clashes on Friday, two civilians were killed and four were injured when a mortar shell hit a home in the Andar district. Andar is one of the unstable districts of Ghazni province, 95 miles (153 km) southwest of the capital, Kabul.
In a separate incident, two militants were killed when explosives went off on a highway in Ghazni.
The Taliban confirmed the clashes. The group’s spokesman, Zabihullah Mujahid, however, gave a conflicting casualty figure.
According to Mujahid, nine Afghan soldiers and one Taliban fighter were killed. He said 10 Afghan soldiers and three Taliban fighters were wounded in the battle to control Andar district.
In April, the militants killed a district governor in Ghazni, his bodyguards and five intelligence agents.
The Taliban have stepped up attacks across the country, after they announced their annual spring offensive, a start of the fighting season as the weather allows easier maneuverability through Afghanistan’s mountains.
This week suicide bombers in the capital Kabul killed at least 26 people, including nine journalists.
According to the top U.S. watchdog on Afghanistan, the number of Afghan security forces fell by nearly 11 percent in the past year, and the vast majority of Afghan forces are incapable of preventing the Taliban from capturing territory. Reporting by Mustafa Andalib, Qadir Sediqi, Writing by Rupam Jain, editing by John Stonestreet and Stephen Powell | ashraq/financial-news-articles | https://www.reuters.com/article/us-afghanistan-attacks/afghan-forces-taliban-battle-for-control-of-highway-in-ghazni-province-idUSKBN1I60IQ |
(Reuters) - J.C. Penney Co Inc’s ( JCP.N ) same-stores sales missed Wall Street estimates for the first quarter, as unusually cold weather in April hit demand for spring clothing and it deeply discounted products to clear inventory.
The U.S. department store chain also cut its full-year profit forecast, blaming a change in accounting standards, which was another factor that sent the company’s shares down 12 percent to $2.71 in morning trading.
“They haven’t been able to get it right with their apparel mix. It’s not resonating with their consumers,” Ken Perkins at industry research firm Retail Metrics said, adding it has also been unable to keep pace with Macy’s Inc ( M.N ) online business and loyalty programs.
On Wednesday, Macy’s Inc ( M.N ) raised its annual profit forecast on strong customer spending and a greater assortment of products.
The retail landscape has been extremely brutal in recent years and J.C. Penney, like other department stores, has been struggling to draw shoppers who are defecting to online retailers and off-price stores.
“This is arguably the most challenging and competitive retail market that we’ve seen in over 50 years,” Chief Executive Officer Marvin Ellison said on a call with analysts.
“We spent an enormous amount of time over the past 18 months, fixing our apparel assortment and making necessary changes.”
FILE PHOTO: The sign at the entrance of a J.C. Penney store is pictured in Arcadia, California March 1, 2013. REUTERS/Mario Anzuoni However, its apparel business, which accounts for more than half of its total sales, continued to be a sore spot.
J.C. Penney said it could report an adjusted loss of 7 cents per share to a profit of as much as 13 cents per share for the year.
The company had forecast adjusted earnings per share of between 5 cents and 25 cents, excluding changes to accounting standards.
J.C. Penney’s same-store sales rose 0.2 percent in the quarter ended May 5, missing analysts’ average estimate of a 2 percent rise, according to Thomson Reuters I/B/E/S.
Excluding the weather impact, same-store sales would have risen 1.5 percent, which was still below expectations.
J.C. Penney’s first-quarter net loss narrowed to $78 million from $187 million a year earlier. Excluding one-time items, the company lost 22 cents per share, compared with analysts’ projection of a loss of 23 cents.
Net sales dipped 4.3 percent to $2.58 billion.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar and Arun Koyyur
| ashraq/financial-news-articles | https://www.reuters.com/article/us-jc-penney-results/j-c-penney-quarterly-same-store-sales-miss-estimates-shares-fall-idUSKCN1II1M2 |
May 10, 2018 / 6:51 PM / Updated 32 minutes ago Colombia, ELN rebels renew peace talks in Havana Reuters Staff 2 Min Read
HAVANA (Reuters) - Colombia and ELN rebels renewed peace talks to end more than five decades of war in Havana on Thursday after original host Ecuador in April pulled its support for the negotiations as long as the guerrillas continued to wage attacks. Colombia's National Liberation Army (ELN) negotiator Pablo Beltran and Colombia's government negotiator Gustavo Bell shake hands during peace talks between ELN and the Colombian government in Havana, Cuba, May 10, 2018. REUTERS/Stringer
Both sides, which started talks 15 months ago in Quito, said on Thursday they wanted to focus on reaching a new ceasefire deal. Their first agreement ended in January and was followed by a period of increased violence and a six-week pause in talks.
Colombia’s conflict between the government, rebel groups, paramilitaries and crime gangs has killed at least 220,000 people and displaced millions.
“We are conscious that we need to make decisive steps and the time has arrived to finalise a stable and more robust bilateral ceasefire,” the Colombian government’s chief negotiator Gustavo Bell said.
Colombia has been at war with the National Liberation Army (ELN), founded by radical Catholic priests, since 1964.
Cuba was also the host for the four-year long negotiations between the Andean country’s government and the Revolutionary Armed Forces of Colombia (FARC) rebels who reached a peace accord in 2016. Reporting by Nelson Acosta and Sarah Marsh; editing by Grant McCool | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-colombia-rebels-cuba/colombia-eln-rebels-renew-peace-talks-in-havana-idUKKBN1IB2Q1 |
CHICAGO--(BUSINESS WIRE)-- Envestnet, Inc. (NYSE:ENV) (the “Company”), a leading provider of intelligent systems for wealth management and financial wellness, announced today that it has priced an offering of $300 million aggregate principal amount of 1.75% convertible notes due 2023 (the “Notes”), which will be sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also granted to the initial purchasers of the Notes an option to purchase within a 30-day period up to an additional $45 million aggregate principal amount of Notes. The sale is expected to close on May 25, 2018, subject to customary closing conditions.
The Notes will be general unsecured obligations, subordinated in right of payment to the Company’s obligations under its revolving credit facility.
The Notes will mature on June 1, 2023, unless earlier purchased, redeemed or converted. Interest will accrue on the Notes at a rate of 1.75% per year and will be payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2018.
The Notes will be convertible at the option of the holders, prior to the close of business on the business day immediately preceding December 15, 2022 only under certain circumstances and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The initial conversion rate for the Notes will be 14.6381 shares of the Company’s common stock for each $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $68.31 per share of the Company’s common stock). Upon conversion, the Notes may be settled, at the Company’s election, in cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock.
The Company may redeem the Notes for cash, at its option, on or after June 5, 2021, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding the redemption date, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, any of the five trading days immediately preceding the date on which the Company provides notice of redemption.
The Company estimates that the net proceeds from the sale of the Notes, after deducting initial purchaser discounts and offering expenses, will be approximately $291.3 million (or approximately $335.1 million if the initial purchasers exercise in full their option to purchase additional Notes). The Company expects to use a portion of the net proceeds from the offering to repay the outstanding principal balance of its revolving credit facility. The Company expects to use the remaining net proceeds from the offering, as well as the increased amounts available under its revolving credit facility, for general corporate purposes, which may include selective strategic investments through acquisitions, alliances or other transactions and to opportunistically repurchase or retire its outstanding 1.75% Convertible Notes due 2019.
The Notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the Notes nor the shares of the Company’s common stock into which the Notes are convertible have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.
This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes (or the shares of the Company’s common stock into which the Notes are convertible), nor will there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Cautionary Statement
The statements in this release relating to the terms and timing of the proposed offering and the expected use of proceeds from the offering are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the anticipated closing date of the offering, the anticipated use of the proceeds of the offering, which could change as a result of market conditions or for other reasons, and the impact of general economic, industry or political conditions in the United States or internationally. Factors that could cause such differences are described in the Company’s periodic filings with SEC.
You are cautioned not to place undue reliance on the Company’s forward-looking statements, which speak only as of the date such statements are made. The Company does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this May 22, 2018 press release, or to reflect the occurrence of unanticipated events.
About Envestnet
Envestnet, Inc. (NYSE:ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation and fiduciary managed account solutions.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180522006484/en/
Envestnet, Inc.
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312-827-3940
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Source: Envestnet, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/22/business-wire-envestnet-inc-announces-pricing-of-convertible-notes-offering.html |
May 17, 2018 / 6:31 Early puberty in girls tied to bullying in school Girls who go through puberty early may be more likely than peers who mature later to be involved in bullying at school - either as victims or perpetrators, a recent study suggests.
The researchers examined data on puberty timing and any experiences with bullying among 227,443 teen girls in 35 countries. Slightly more than 4 percent of the girls started menstruating early, defined in the study as before age 11.
Early menstruation was associated with 21 percent higher odds that girls would be occasional victims of bullying and a 35 percent greater chance of frequent victimization.
At the same time, teens who started menstruating sooner than most other girls were 19 percent more likely to occasionally bully other students at school and had 46 percent higher odds of becoming frequent bullies.
“This study emphasizes how intricate and complicated peer relationships can be during early adolescence, particularly for kids whose physical development puts them out of synch with their peers,” said Jane Mendle, a human development researcher at Cornell University in Ithaca, New York, who wasn’t involved in the study.
“Peers are so important during early adolescence, especially for girls,” Mendle said by email. “Maturing early can contribute to kids feeling different from others in their grade at school, and it can also make kids stand out.”
While few previous studies have examined the link between bullying and puberty timing, early maturation has long been linked to an increased risk of conflict with other kids, feeling different and isolated, and being the victim of peer sexual harassment, Mendle added.
Puberty usually starts between the ages of 8 and 13 years old in girls. Breast and pubic hair development usually come first, followed about two years later by the start of menstruation.
Children who go through early puberty may be shorter than average adults because their bones may stop growing at a younger age, and they are also at increased risk of obesity as adults. During adolescence, they may face an increased risk of social and emotional problems and earlier sexual experiences.
Some recent research points to earlier puberty onset in the general population, especially in girls in developed countries. Environmental factors like diet, obesity and chemicals that mimic human hormones have all been suspected of playing a role.
The current study examined survey data collected in four waves from 2001 to 2010 in primarily European countries, as well as Canada, Israel and the U.S. During the study period, early menstruation became a little more common and the proportion of girls involved in bullying declined slightly.
By the end of the study, roughly 31 percent of girls who started menstruation early were either victims or perpetrators of occasional bullying, compared with about 26 percent of girls who started menstruating at age 12 or later.
The trend was similar with frequent bullying. In the last survey wave, about 11 percent of girls who started menstruating early were regularly victims of bullying and more than 9 percent were often bullies, compared with about 8 percent and 7 percent, respectively, of girls who began menstruating later.
One limitation of the study is that researchers relied on girls to accurately recall and report on the timing of menstruation and their experiences with bullying, the authors note in Journal of Adolescent Health.
Researchers also relied on girls to report their own weight, which might give an accurate picture of the proportion of overweight and obese girls in the study. Obesity is independently linked to both early puberty and bullying.
Still, the results suggest that parents need to make sure girls know what to expect during puberty and that it’s normal for their experiences to differ from friends and classmates, said senior study author Qiguo Lian of the Shanghai Institute of Planned Parenthood Research and the Institute of Reproduction and Development at Fudan University in Shanghai, China.
“Parents should let their daughters know that puberty timing is varied among adolescents, it is very normal that some are earlier and some are later,” Lian said by email. “More importantly, parents and school teachers should recognize that adolescents need the skills and abilities to copy with the pressures caused by early puberty they enter puberty.”
SOURCE: bit.ly/2rPHApD Journal of Adolescent Health, online April 25, 2018. | ashraq/financial-news-articles | https://uk.reuters.com/article/us-health-puberty-bullying/early-puberty-in-girls-tied-to-bullying-in-school-idUKKCN1II2NI |
5 outrageous Elon Musk moments from the bizarre Tesla call 2 Hours Ago Elon Musk cut off Wall Street analysts during Tesla's Q1 2018 earnings call, calling their questions "boring" and "not cool." | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/03/5-outrageous-elon-musk-moments-from-the-bizarre-tesla-call.html |
Billionaire investor Cooperman on FANG stocks 1 Hour Ago Lee Cooperman of Omega Advisors discusses his investment strategy, company valuations and his concern with government intervention. 04:50 04:50 | 1 Hr Ago 01:27 01:27 | 9:57 AM ET Sun, 13 May 2018 02:54 02:54 | 10:32 AM ET Mon, 14 May 2018 00:44 00:44 | 11:48 AM ET Fri, 11 May 2018 | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/22/billionaire-cooperman-fang-stock-valuations-amazon.html |
May 4 (Reuters) - OCI International Holdings Ltd:
* OCI CAPITAL TO SELL CERTAIN BONDS ISSUED BY ZUNYI NEW DISTRICT INVESTMENT CO., LTD. WITH A NOTIONAL AMOUNT OF US$10 MILLION
* UNIT ENTERED INTO A REPURCHASE TRANSACTION WITH GF GLOBAL CAPITAL FOR BONDS ISSUED BY ZUNYI NEW DISTRICT INVESTMENT Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-oci-international-holdings-says-oc/brief-oci-international-holdings-says-oci-capital-to-sell-certain-bonds-with-notional-amount-of-10-million-idUSFWN1SB0FS |
ANALYSIS-Brazil's wealthy farm belt backs Trump-like presidential candidate Ana Mano and Anthony Boadle Published 7 Hours Ago Reuters
CAMPO NOVO DO PARECIS, Brazil, May 17 (Reuters) - A right-wing Brazilian presidential candidate who compares himself to Donald Trump is attracting support across Brazil's farm belt, where the fiery former paratrooper may secure the funding needed for his bid to run Latin America's biggest country.
Jair Bolsonaro's early lead in national opinion polls for October's presidential race has been dismissed by many pundits because he the lacks the strong party base traditionally needed to win elections in this continent-sized country of 209 million people.
Yet the 63-year-old's tough law-and-order stance and plans to ease gun controls, plus his opposition to environmental protections and native land claims are resonating with wealthy landowners in Brazilian farm country.
Bumper stickers stating "Bolsonaro Save Brazil" and "We Are All Bolsonaro" are a common sight on pickups in Campo Novo do Parecis, a farm town in the state of Mato Grosso, Brazil's agricultural powerhouse.
With the jailing of Brazil's former president Luiz Inacio Lula da Silva for corruption, Bolsonaro, a seven-term congressman, leads a fragmented field with five months to go until the election.
A poll this week showed him ahead of environmentalist Marina Silva when Lula's name is excluded.
In the midwestern farm states that drive the world's eighth-largest economy, Bolsonaro's lead grows to a commanding 10 percentage points, according to pollster Datafolha.
While those states are less populous than coastal regions, they are home to powerful landowners flush with cash from recent bumper crops, whose political donations may be key to building a nationwide campaign for Bolsonaro.
Tall and thin, with a shock of greying hair combed to one side and an intense gaze, Bolsonaro's biggest selling point in the eyes of many voters is a clean record on corruption when much of the political class has been tarred with graft scandals. With that, they are prepared to overlook his more incendiary comments.
Despite his popularity, Bolsonaro only has the backing of a small fringe party. Under Brazil's election laws, that gives him just 10 seconds of free television time when campaigning kicks off, a serious handicap in a nation where TV ads have a big impact.
Polls suggest up to 45 percent of voters remain undecided.
Bolsonaro's aides say his social media reach will make up for lost TV time, citing a Facebook following more than twice the size of Marina Silva's.
With anger at establishment parties riding high in Brazil, the brash iconoclast has compared his candidacy to Trump's 2016 campaign, stirring some voters with fiery speeches while alarming others.
Brazil's attorney general charged Bolsonaro last month with inciting discrimination against women, black people, indigenous people and gays.
He also faces a Supreme Court trial for inciting rape in a 2014 verbal attack on a congresswoman, whom he called ugly and said he "would not rape because she did not deserve it."
"Trump faced the same attacks I am facing - that he was a homophobe, a fascist, a racist, a Nazi - but the people believed in his platform and I was rooting for him," Bolsonaro told Reuters in a September interview.
Bolsonaro could not be reached for comment on this story.
CRIME IN FARM COUNTRY
Bolsonaro's hardline rhetoric on crime has also inspired grassroots organizing in the midwest region, where prosperous farms are threatened by land invasions and increasing robberies.
"If we could have rifles like ranchers in the United States, that would deter criminals," said farmer Flavio Giacomet. "He is not the savior who will end corruption and crime, but of the candidates out there today, I would vote for him."
A recent survey by Brazilian agriculture lobby CNA showed an increase in armed robbery on farms, with organized gangs seizing machinery and costly fertilizers and pesticides.
In rural parts of Mato Grosso, robberies are up 60 percent and murders jumped 44 percent in the last five years, according to data from the state government.
Bolsonaro's criticism of environmental licensing rules and state interference in the economy also "are music to farmers' ears," said Endrigo Dalcin, former president of Mato Grosso grain farmers group Aprosoja.
Comments on China "taking over" Brazil appear not to have dented his support among farmers, although the Asian giant is by far the biggest buyer of Brazilian grains.
Bolsonaro told Reuters last year that his foreign policy priority if elected would be to strengthen ties with the Trump administration and aim to restore the United States as Brazil's top trade partner, a position it lost to China in 2009.
"I don't see Bolsonaro's rhetoric as anti-China. It is more about regulating Chinese investments in Brazil," said Antonio Galvan, vice president of Aprosoja. "I don't think he is referring to Brazil not selling its products to China. That would not make any sense."
Ever since Brazil banned corporate donations to political campaigns, candidates have targeted wealthy farmers for financing and Bolsonaro's bid will rely on rural donations.
Giacomet and other farmers told Reuters they would donate money to Bolsonaro's campaign but only if he emerges as a viable contender with a coalition of parties behind him.
BULLET, BEEF AND BIBLE LOBBY
Bolsonaro has pledged to end the expansion of indigenous reservations as native communities claim more land rights in the face of the steady advance of Brazil's agricultural frontier into what was once the Amazon rainforest.
He supports changing laws to allow commercial agriculture and mining on reservations, backing bills that could clear an increasingly conservative Congress.
Bolsonaro was the only presidential hopeful to appear this month at the inauguration of Brazil's biggest farm equipment fair, the Agrishow expo in Sao Paulo's sugarcane belt.
Supporters there broke into chants and he was cheered when he climbed aboard a tractor and revved up the engine. He said his connection with the crowd came from his honesty and religious convictions.
"We will not make a deal with the Devil to get elected," said Bolsonaro, whose middle name means 'Messiah'. "Our commitment is to God and the people."
Bolsonaro's rise is part of a sharp rightward swing in Brazilian politics, led by market-friendly President Michel Temer who took over from impeached leftist Dilma Rousseff in 2016, ending 14 years of rule by Lula's Workers Party.
Despite Brazil's reputation for tolerance, a conservative alliance of evangelical Christians, farm state lawmakers and pro-gun politicians has steadily advanced in Congress, holding 230 of the 513 seats in the lower house.
This broad caucus, popularly known as the "Bullet, Beef and Bible Lobby", wants to ease gun sales, tighten Brazil's already restrictive abortion laws and give Congress final say in defining indigenous reservations all planks in Bolsonaro's platform.
The CNA farm lobby said it does not endorse presidential candidates, nor will the Congressional farm caucus, whose members come from different parties. But that is not dampening enthusiasm in rural Brazil.
"The whole town is campaigning hard for him," said Gilvia Casarin, a bank manager in Campo Novo do Parecis. "They cannot think of a better name than his."
(Reporting by Ana Mano and Anthony Boadle, additional reporting by Ricardo Brito in Brasilia and Marcelo Teixeira in Ribeirão Preto; editing by Brad Brooks, Daniel Flynn and Rosalba O'Brien) | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/17/reuters-america-analysis-brazils-wealthy-farm-belt-backs-trump-like-presidential-candidate.html |
May 24, 2018 / 5:35 PM / Updated 30 minutes ago SNCF exploring sell-down of stakes in two subsidiaries: Les Echos Reuters Staff 2 Min Read
PARIS (Reuters) - France’s state-run rail company SNCF is exploring selling down its stakes in two subsidiaries, hire car start-up Ouicar and car-sharing platform iDVroom, business newspaper Les Echos reported on Thursday.
Les Echos said SNCF had mandated investment bank Rothschild with testing the market and identifying potential investors.
A spokesman for SNCF said he could not immediately confirm the report and declined further comment.
Les Echos cited a source saying SNCF was prepared to cede control of the two subsidiaries but that there was no question of completely divesting from both.
SNCF paid 28 million euros ($32.8 million) for a 75 percent stake in Ouicar in 2015. Ouicar provides a platform for drivers to hire a car from private owners, rather than through hire car companies.
President Emmanuel Macron is locked in a battle with rail unions over his plans to create a leaner, more efficient SNCF that could better stand up to foreign competition once its monopoly ends.
Unions say the reform is a first step towards privatization. Macron’s government says it has no plans to open the rail company up to private capital. Reporting by Elizabeth Pineay; Writing by Richard Lough; Editing by Dale Hudson | ashraq/financial-news-articles | https://www.reuters.com/article/us-france-reform-sncf-subsidiaries/sncf-exploring-sell-down-of-stakes-in-two-subsidiaries-les-echos-idUSKCN1IP34T |
May 15 (Reuters) - Trio-Tech International:
* TRIO-TECH INTERNATIONAL FILES FOR NON TIMELY 10-Q - SEC FILING Source text: ( bit.ly/2k0uqTg ) Further company coverage: ([email protected])
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-trio-tech-international-files-for/brief-trio-tech-international-files-for-non-timely-10-q-sec-filing-idUSFWN1SM0QL |
Iran slams U.S. sanctions push 8:19pm IST - 01:27
Iran on Wednesday kept up a drumbeat of opposition to U.S. demands for sweeping change in its foreign policy and nuclear program, and Tehran's ally Damascus dismissed out of hand a U.S. call for a withdrawal of Iranian forces from Syria. Scarlett Cvitanovich reports.
Iran on Wednesday kept up a drumbeat of opposition to U.S. demands for sweeping change in its foreign policy and nuclear program, and Tehran's ally Damascus dismissed out of hand a U.S. call for a withdrawal of Iranian forces from Syria. Scarlett Cvitanovich reports. //reut.rs/2KLNLmy | ashraq/financial-news-articles | https://in.reuters.com/video/2018/05/23/iran-slams-us-sanctions-push?videoId=429618806 |
May 7, 2018 / 12:58 PM / Updated 8 minutes ago MOVES-State Street Global, Standard Chartered, Societe Generale Reuters Staff 2 Min Read
(Adds Barrow Hanley, State Street Global, Z Capital Group)
May 7 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email [email protected]. STATE STREET GLOBAL ADVISORS
The asset management business of State Street Corp named Sue Thompson as head of Americas Distribution for SPDR ETFs. STANDARD CHARTERED
The bank has hired Jason Ving as executive director for its public sector group within corporate and institutional banking. SOCIETE GENERALE
The bank appointed Thomas Decouvelaere as head of financial engineering within its global markets division in Asia Pacific, effective July 1. BARROW, HANLEY, MEWHINNEY & STRAUSS LLC
The investment manager named Bill Braxton director of client development. HILLHOUSE CAPITAL GROUP
Former Credit Suisse banker Isabella Luan has joined Hillhouse Capital Group as a managing director in its Hong Kong office. Z CAPITAL GROUP LLC
The alternative asset manager named Bonnie Wang as a managing director and head of corporate development. (Compiled by Nivedita Balu and Mrinalini Krothapalli) | ashraq/financial-news-articles | https://www.reuters.com/article/financial-moves/moves-hillhouse-capital-standard-chartered-societe-generale-idUSL3N1SE4A3 |
May 11, 2018 / 8:10 PM / Updated 7 minutes ago BUZZ-U.S. stocks weekly: Spring fever Reuters Staff 2 Min Read
** S&P 500 enjoys some real warmth, has best week since early Mar, surges 2.4 pct. Consumer and producer price data eases inflation fears
** SPX may be warping out of the neutral zone , while Dow Futures make play for 100-Day
** Indeed, hemming and hawing may be ending, while an NYSE internal measure may be giving a hint
** Nearly every sector feels a nice breeze; energy, financials and tech bloom, while utilities wheeze. Nevertheless, growth still the pace car, hits fresh 17+ year high vs value
** Energy surges 3.8 pct. Oil prices hit 3-1/2 yr highs as Trump decides to quit Iran nuclear deal, restore sanctions. Though Energy ETF bubbling up toward chart resistance
** Financials soar 3.6 pct. Citigroup best in group up 7 pct as activist ValueAct takes $1.2 bln stake . S&P 500 Banks index up ~5 pct
** Tech up 3.5 pct. Warren Buffett loves his Apple , and Nvidia notches all-time high ahead of another qtrly beat, with crypto noise injected . On flip side, worst S&P stock Symantec plummets 30 pct on internal probe mystery, weak forecast
** Cons Discretionary up 0.8 pct. Best S&P performer TripAdvisor leaps 27 pct on upbeat qtrly report
** Utilities down 2.3 pct. Utilities ETF weakness on charts poised to re-heat
** SPX sector performance over past 12 mths: reut.rs/2wxZVNF
** Meanwhile, as SPX perks up, stock correlations cool down | ashraq/financial-news-articles | https://www.reuters.com/article/buzz-us-stocks-weekly-spring-fever/buzz-u-s-stocks-weekly-spring-fever-idUSL1N1SI12V |
POMPANO BEACH, Fla., May 1, 2018 /PRNewswire/ -- GVCL Ventures, Inc. (the "Company") (OTC: GVCL), announced today that the Company has entered into a Share Exchange Agreement with Rain Forest Nutraceuticals, Inc., a private corporation organized under the laws of the State of Nevada ("Rain Forest"), ( www.rainforestnutraceuticalsinc.com ) to acquire 100% of its shares in exchange for the issuance by the Company of 150,000,000 shares of its restricted common stock (the "SEA"). The terms and provisions of the SEA provide, among other conditions precedent, that the Company will effect a one for two hundred (1:200) reverse stock split and change in corporate name to better reflect the future operations of the Company. The Company will be making such application with the appropriate regulatory authorities shortly.
Rain Forest entered into a master license agreement dated March 15, 2018, with UVdA S.A.C., a Peruvian third generation family business ("UVdA"), pursuant to which UVdA granted to Rain Forest an exclusive worldwide license and associated rights, excluding South America, to market and sell a line of nutraceutical products based on UVdA's exceptional amazon rain forest grape seed extracts and oils (the "Products"). UVdA is a successful company producing the premium Products with revenues in excess of $1,000,000 and net profits in excess of $400,000 in their last fiscal year.
Gerald Neziol, President of the Company, states, "This acquisition is a major step forward for the Company. To be able to introduce, market and sell a successful and proven product line to the rest of the world, I believe will be a very profitable business initiative for the Company. We look forward to a very profitable future."
The Company has also terminated the license agreement with Vapor Systems Corp. due to unfulfilled agreement terms.
About GVCL Ventures, Inc.:
GVCL Ventures, Inc. ( www.gvclventures.com ), is a business opportunity company with a primary focus on working with and/or acquiring operational companies to work with for the purpose of enhancing shareholder value, in symphony with its wholly owned subsidiary, GVCL Marketing Corp., which provides a unique network marketing opportunity that utilizes its extensive access to online digital campaigns via the internet for its clients and partners, to enhance their productivity and revenue.
Forward Looking Statements
Undue reliance should not be placed on forward looking statements in this press release. This press release contains forward looking statements that involve risks and uncertainties. Words such as "will", "anticipates", "believes", "plans", "goal", "expects", "future", "intends", and similar expressions are used to identify these forward looking statements. Actual results could materially differ from those anticipated in these forward looking statements for many reasons.
View original content: http://www.prnewswire.com/news-releases/gvcl-ventures-inc-enters-into-a-share-exchange-agreement-with-rain-forest-nutraceuticals-inc-300639668.html
SOURCE GVCL Ventures, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/pr-newswire-gvcl-ventures-inc-enters-into-a-share-exchange-agreement-with-rain-forest-nutraceuticals-inc.html |
JERUSALEM (Reuters) - Intel Corp said on Tuesday it had submitted plans to expand its production operations in Israel, with the government saying the U.S. chipmaker would invest about $5 billion.
FILE PHOTO - Intel processors are displayed at a store in Seoul June 21, 2012. REUTERS/Choi Dae-woong/File Photo Intel is one of the biggest employers and exporters in Israel, where many of its new technologies are developed. The new investment will upgrade its Kiryat Gat manufacturing plant in southern Israel, the company said in a statement.
Intel did not provide financial details.
Israel’s Finance Ministry said the company would invest about 18 billion shekels ($5 billion) in the factory between 2018-2020 and had agreed to spend 3 billion shekels on local suppliers.
FILE PHOTO: Intel logo is seen behind LED lights in this illustration taken January 5, 2018. REUTERS/Dado Ruvic/File Photo “According to company officials, this investment is expected to pave the way for a future significant investment for a technological upgrade at the Israeli site,” the ministry said in a statement.
In return, Intel will be granted an extension of its reduced tax rate of 5 percent until 2027. The Finance Ministry said it was also considering giving Intel a 700 million shekel grant, with a second grant of the same size to come with future investments.
“This is to incentivize the company to carry out the future investment that could be significantly higher than past and current investments,” the ministry said.
Intel said it exported $3.6 billion of goods and services from Israel in 2017, about 8 percent of the country’s total hi-tech exports.
Reporting by Ari Rabinovitch; Editing by Jason Neely and Mark Potter
| ashraq/financial-news-articles | https://www.reuters.com/article/us-intel-israel-factory/israeli-minister-says-intel-board-approves-israel-expansion-idUSKCN1IG175 |
May 16, 2018 / 2:56 PM / Updated 7 minutes ago Illinois officer shoots, wounds armed suspect at high school Reuters Staff 2 Min Read
CHICAGO (Reuters) - A police officer assigned to a northern Illinois high school shot and wounded a 19-year-old former student who had brought a gun to the school on Wednesday morning, authorities in the city of Dixon said.
The suspect, who was in police custody, suffered wounds that were not life-threatening, and no one else was hurt in the incident, officials said. Police believe the former student acted alone and that there was no further threat.
“Things could have gone much worse,” Dixon Mayor Liandro Arellano Jr. told a news conference.
All schools in Dixon, a small city about 100 miles (160 km) west of Chicago where former U.S. President Ronald Reagan lived as a boy, were placed on lockdown.
The male suspect fired several shots near the west gym of Dixon High School, and when confronted by the officer, he exited the school and ran, Dixon Police Chief Steven Howell Jr. said at the news conference.
Police did not name the suspect or school resource officer involved in the incident.
With the officer in pursuit, the former student shot several rounds. The officer returned fire and hit the man, Howell said. Shortly afterward, the suspect was taken into custody and was receiving medical attention.
The officer will be put on administrative leave, which is the department’s normal policy, the police chief said.
The FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives responded and assisted local law enforcement agencies.
Responding officers found that students and staff had barricaded classroom doors with desks, bookcases and other objects as they learned in training, Howell said.
Armed school resource officers have been in the headlines since the Feb. 14 massacre of 17 teens and educators at a Parkland, Florida, high school, where an on-duty resource officer did not confront the gunman, a former student of the school.
In March, a police officer posted at a Maryland high school shot and killed a 17-year-old boy who had opened fire on two fellow students. Reporting by Suzannah Gonzales in Chicago and Jonathan Allen in New York; Editing by Jonathan Oatis and Matthew Lewis | ashraq/financial-news-articles | https://www.reuters.com/article/us-illinois-shooting/police-officer-shoots-wounds-armed-suspect-at-illinois-school-idUSKCN1IH20Z |
HOBOKEN, N.J.--(BUSINESS WIRE)-- Newell Brands Inc. (NYSE: NWL) announced today the declaration of a quarterly cash dividend of $0.23 per share. The dividend is payable June 15, 2018 to common stockholders of record at the close of business on May 31, 2018.
About Newell Brands
Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Rawlings®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, Waddington and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.
This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com .
//www.businesswire.com/news/home/20180515006560/en/
Newell Brands Inc.
Investors:
Nancy O’Donnell
SVP, Investor Relations and
Corporate Communications
+1 (201) 610-6857
[email protected]
or
Media:
Michael Sinatra
Director, External
Communications
+1 (201) 610-6717
[email protected]
Source: Newell Brands Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/15/business-wire-newell-brands-declares-dividend-on-common-stock.html |
May 23, 2018 / 10:59 PM / Updated 39 minutes ago Canada's largest city to open emergency housing for asylum seekers Anna Mehler Paperny 3 Min Read
TORONTO (Reuters) - Canada’s largest city said on Wednesday it is activating an emergency contingency plan to shelter refugee claimants as it prepares for an influx of migrants this summer, a rare move that underscores the strain caused by the inflow of asylum seekers. FILE PHOTO: A mother and child are confronted by a Royal Canadian Mounted Police (RCMP) officer as they approach the U.S.-Canada border on Roxham Road in Champlain, New York, U.S., April 24, 2017. REUTERS/Christinne Muschi/File Photo
Toronto will house 800 asylum seekers in college dorms over the summer, the city said in a statement. But after August, it will need a new contingency plan and may house people in community centres instead, the statement added.
More than 27,000 asylum seekers have illegally crossed the Canada-U.S. border since U.S. President Donald Trump came to office last year.
The influx has strained Canada’s backlogged system for assisting people seeking refugee status, leaving aid agencies scrambling to meet growing demand for housing and social services. FILE PHOTO: A barricade blocks the dead end road where Royal Canadian Mounted Police (RCMP) have set up a tent and buses for incoming refugees crossing the US-Canada border at Roxham Road in Hemmingford, Quebec, Canada August 3, 2017. REUTERS/Christinne Muschi/File Photo
Wednesday’s announcement came as a surprise to refugee agencies, said Francisco Rico, co-director of Toronto’s FCJ Refugee Centre. He and his colleagues have been working with the city for months to develop a longer-term solution.
“It’s a bandage. Of course a bandage doesn’t help in the long term, particularly if people continue coming in (at) this level.” FILE PHOTO: A line of asylum seekers who identified themselves as from Haiti wait to enter into Canada from Roxham Road in Champlain, New York, U.S., August 7, 2017. REUTERS/Christinne Muschi/File Photo
Refugees cross illegally because if they cross legally at formal border crossings, Canada will turn them back under a bilateral agreement with the United States. Canada has sought to expand this agreement to allow it to turn back thousands more asylum seekers.
The vast majority have gone to the primarily French-speaking province of Quebec, but Quebec’s government has said its social services are strained and it cannot handle many more newcomers.
That has prompted plans to divert willing asylum seekers to Ontario — plans a spokesman for Canada’s immigration and refugee minister said on Wednesday are still in the works.
But Toronto, Ontario’s capital and Canada’s largest city, has seen strains of its own, and the city is bracing for more coming from Quebec over the coming months.
Refugee claimants now make up 40 percent of the people sleeping in shelter beds, up from 25 percent in May, 2017, and they are estimated to make up the majority of shelter occupants by November, the city said.
The Red Cross, which will run the new shelters, got the call from the city last week but had been prepared to open asylum seeker shelter spaces for a while, said Stephanie Etkin, the Red Cross’s regional operations manager for the Toronto area.
For graphics on the impact asylum seekers are having in Canada, see - tmsnrt.rs/2HCp4aD Reporting by Anna Mehler Paperny | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-canada-immigration-toronto/canadas-largest-city-to-open-emergency-housing-for-asylum-seekers-idUKKCN1IO3FS |
NASHUA, N.H., May 31, 2018 (GLOBE NEWSWIRE) -- Dresner Advisory Services today published the 2018 Wisdom of Crowds ® Business Intelligence Market Study. The annual report is the company’s broad assessment of the business intelligence (BI) market, providing a comprehensive look at key user trends, attitudes, and intentions.
For each study, users contribute their opinion on topics related to their current and planned usage and are asked to prioritize technologies and initiatives strategic to BI. This year’s report adds Information Technology (IT) analytics, sales planning, and GDPR, bringing the total to 36 topics under study. The 2018 edition also features an expanded look at the chief data officer and chief analytics officer roles, new questions around business intelligence “achievements”, and a new section examining BI product/tool replacements.
"Better decision-making" remains the top BI objective for 2018. A second tier of more quantifiable objectives including “improved operational efficiency” and “growth in revenues” have gained momentum. In addition, respondents indicated greater success, budgets, and adoption of BI with a chief data officer and/or a chief analytics officer in place.
“The Wisdom of Crowds BI Market Study is the cornerstone of our annual research agenda, providing the most in-depth and data rich portrait of the state of the BI market,” said Howard Dresner, founder and chief research officer at Dresner Advisory Services. “Drawn from first person perspective of users throughout all industries, geographies, and organization sizes, who are involved in varying aspects of BI projects, our report provides a unique look at the drivers of and success with BI.”
The company also announced availability of the 2018 Buyers’ Guide Edition. This separate, exclusive version of the flagship BI Market Study enables readers to compare and contrast 25 current vendor-supported BI capabilities across traditional, cloud, and mobile platforms for 27 individual vendors.
Dresner Advisory Services will highlight its proprietary research, including this report, at its upcoming Real Business Intelligence Conference, June 27 th and 28 th , on the campus of MIT. More information can be found at www.seebeyondthenoise.com .
Wisdom of Crowds ® research is based on data collected on usage and deployment trends, products, and vendors. BI users in all roles and throughout all industries contributed to provide a complete view of realities, plans, and perceptions of the market. To purchase a copy of the 2018 Wisdom of Crowds Business Intelligence Market Study Buyers’ Guide Edition, visit www.biwisdom.com .
About Dresner Advisory Services
Dresner Advisory Services was formed by Howard Dresner, an independent analyst, author, lecturer, and business adviser. Dresner Advisory Services, LLC focuses on creating and sharing thought leadership for Business Intelligence (BI), information management, performance management, and related areas.
Press contact:
Danielle Guinebertiere
Dresner Advisory Services
[email protected]
978 254 5587
Source:Dresner Advisory Services LLC | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/31/globe-newswire-dresner-advisory-services-publishes-2018-wisdom-of-crowds-business-intelligence-market-study.html |
SAINT LOUIS, Mo., May 14, 2018 (GLOBE NEWSWIRE) -- Aegion Corporation (“Aegion” or the “Company”) (Nasdaq:AEGN) announced today the appointment of Mark A. Menghini as its Senior Vice President, General Counsel and Secretary, effective May 10, 2018. Mr. Menghini had served as the Company’s Interim General Counsel and Secretary since April 18, 2018.
Mr. Menghini has been with Aegion since 2013 and, prior to his appointment as Interim General Counsel and Secretary, most recently served as the Company’s Senior Vice President and Deputy General Counsel. Prior to joining Aegion, Mr. Menghini was an officer and shareholder with the law firm of Greensfelder, Hemker & Gale, P.C., a regional law firm based in St. Louis, Missouri, where he practiced as a member of the firm’s Construction Law Practice Group from 1998 until 2013.
Aegion President and CEO, Charles R. Gordon, remarked, “I am confident in Mark’s ability to serve as Aegion’s General Counsel and Secretary. Since joining Aegion, Mark has worked closely with our platform presidents and general counsels on all significant legal matters. He has emphasized working with customers to define contractual risks and responsibilities. This has led to more successful outcomes on challenging projects throughout Aegion. Mark is a strong leader who is committed to living our core values and will be an excellent addition to the Aegion senior leadership team.”
About Aegion (NASDAQ:AEGN)
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure.®
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Aegion's forward-looking statements in this news release represent its beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to Aegion and on management's beliefs, assumptions, estimates or projections and are not guarantees of future events or results. When used in this document, the words "anticipate," "estimate," "believe," "plan," "intend, "may," "will" and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the "Risk Factors" section of Aegion's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 1, 2018, and in subsequently filed documents. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, Aegion's actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, Aegion does not assume a duty to update forward-looking statements, whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by Aegion from time to time in Aegion's filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by Aegion in this news release are qualified by these cautionary statements.
Aegion® and the associated logo are the registered trademarks of Aegion Corporation and its affiliates.
(AEGN-GEN)
For more information, contact:
Katie Cason
Vice President, Financial Planning & Analysis and Investor Relations
636-530-8000
Source:Aegion Corp | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/14/globe-newswire-aegion-corporation-names-mark-a-menghini-as-its-general-counsel-and-secretary.html |
Materials and Metals Boeing's foldable wingtip for new 777s gets approval Boeing Co on Friday won approval from the U.S. regulator Federal Aviation Administration for the company's new foldable wingtips for its latest 777 jets. The design would allow the bigger wings to fit into the standard-sized airport parking space. The feature will help reduce the wingspan to 212 feet from 235 feet when folded during ground operations. Published 9 Hours Ago Source: Boeing Co. Boeing 777X folding wingtips.
Boeing on Friday won approval from the U.S. regulator Federal Aviation Administration for the company's new foldable wingtips for its latest 777 jets.
The design, which will be incorporated in the world's largest commercial planemaker's Model 777-8 and 777-9 models, would allow the bigger wings to fit into the standard-sized airport parking space.
The feature will help reduce the wingspan to 212 feet from 235 feet when folded during ground operations.
Twin-engine, long-haul aircraft seating around 350 to 410 passengers is seen as the industry's next big battle with both Boeing and rival Airbus competing for a potential market of several thousand. Related Securities | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/18/boeings-foldable-wingtip-for-new-777s-gets-approval.html |
May 26, 2018 / 8:25 AM / Updated 35 minutes ago Dior brings equestrian glamour to the catwalk at French chateau Reuters Staff 1 Min Read
CHANTILLY, France (Reuters) - Christian Dior turned the runway into a Mexican-inspired rodeo on Friday at France’s sumptuous Chantilly chateau, unveiling its latest mid-season “cruise” collection alongside a horse-riding spectacular.
Under driving rain, riders decked in full white skirts put on a galloping display in the grounds of the chateau just north of Paris, famed for its equestrian traditions, from horse breeding to races.
Models in full, embroidered riding skirts with sturdy leather belts later took to the runway around the ring, while some wore equestrian-style jackets, leather corsets and even helmets.
Dior designer Maria Grazia Chiuri said the collection was also inspired by a touch of magic realism, and the novel by Chilean author Isabel Allende, “The House of the Spirits.”
Delicate dresses in black and white, with details made from Chantilly lace, rounded off the collection. Reporting by Sarah White, Editing by Rosalba O'Brien | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-fashion-dior-chateau/dior-brings-equestrian-glamour-to-the-catwalk-at-french-chateau-idUKKCN1IQ345 |
NORTH CANTON, Ohio, May 23, 2018 /PRNewswire/ -- Diebold Nixdorf, Incorporated (NYSE: DBD) today announced it has named Ellen M. Costello, a veteran leader in the financial industry, to the company's board of directors. Upon her appointment, effective June 1, Costello will serve on the board's audit and finance committees.
Costello has more than 30 years of leadership experience in retail, commercial, corporate banking and capital markets around the world. She currently serves as an independent director on the board of Citigroup, Inc., a role she has held since January 2016, and is currently a member of its audit and risk committees. In her most recent executive position, Costello served as chief executive officer (CEO) of BMO Financial Corp., and as U.S. country head at BMO Financial Group, where she was responsible for providing governance and regulatory oversight for all of BMO's U.S. businesses. Prior to that she was CEO of BMO Harris Bank for five years. She began her career in community banking, joining BMO Financial Group in corporate and institutional banking in 1983. Her previous corporate board experience includes directorships at DH Corporation and BMO Financial Corporation.
"We are delighted to add a person of Ellen's caliber and experience to the company's board of directors," said Gary G. Greenfield, Diebold Nixdorf non-executive chairman of the board. "Her leadership experience in banking and expertise in a broad range of financial services will prove valuable for us as we leverage the full breadth of the company's assets in providing connected commerce solutions for clients around the world. As Ellen will fill the director seat vacated upon the retirement of Juergen Wunram, our chief operating officer, we thank him for all his contributions to the company and wish him the best in his retirement."
About Diebold Nixdorf
Diebold Nixdorf (NYSE:DBD) is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world's top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an 'always on' and changing consumer landscape.
Diebold Nixdorf has a presence in more than 130 countries with approximately 23,000 employees worldwide. The organization is headquartered in North Canton, Ohio, USA. Visit www.DieboldNixdorf.com for more information.
View original content with multimedia: http://www.prnewswire.com/news-releases/diebold-nixdorf-appoints-ellen-costello-to-board-of-directors-300653283.html
SOURCE Diebold Nixdorf | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/23/pr-newswire-diebold-nixdorf-appoints-ellen-costello-to-board-of-directors.html |
May 3 (Reuters) - Bancorp Inc:
* THE BANCORP NAMES JENNIFER TERRY CHIEF HUMAN RESOURCES OFFICER Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-the-bancorp-names-jennifer-terry-c/brief-the-bancorp-names-jennifer-terry-chief-human-resources-officer-idUSASC09ZKS |
May 16, 2018 / 3:43 AM / Updated 8 hours ago Chelsea must show ambition with new signings, says Hazard Eden Hazard fully expects to be at Chelsea next season but says he is in no hurry to sign a new contract as he wants the club to prove their ambition by bringing in players capable of winning the Premier League. Chelsea vs Liverpool - Stamford Bridge, London, Britain - May 6, 2018 Chelsea's Eden Hazard in action with Liverpool's Virgil van Dijk Action Images via Reuters/John Sibley
The 27-year-old’s current deal expires in 2020 and Chelsea have been keen to tie him to the club amid persistent speculation about a move to Spain.
Chelsea finished fifth in the league, and while they have the chance to end the season on a high with Saturday’s FA Cup final against Manchester United, Hazard said the club must look to improve the squad for a title challenge.
“I’m waiting for new players next season. I want good players, because I want to win the Premier League next season,” Hazard told British media.
The Belgium forward said that his next contract might be the last one he signs while he is in the prime of his career.
“That’s why I’ m taking my time. It’s something big, so I need to think about a lot of things. But one thing is for sure: I’m happy here,” he added.
“... I think the FA Cup final is not my last game for Chelsea. It’s the last game of the season, that’s it... “ Reporting by Aditi Prakash Peter [email protected]; +822 3704 | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-soccer-england-che-hazard/chelsea-must-show-ambition-with-new-signings-says-hazard-idUKKCN1IH0AC |
BUENOS AIRES (Reuters) - The European Union and South America’s Mercosur bloc could reach a trade agreement this year, the president of the European Council said on Monday, following tensions between the two regional blocs during negotiations last month.
Ekaterina Zaharieva, Bulgaria's Foreign Minister and President of the European Union Council of Ministers, speaks during an interview with Reuters at the G20 Meeting of Foreign Affairs Ministers in Buenos Aires, Argentina, May 21, 2018. REUTERS/Marcos Brindicci “We think we’re going to end negotiations toward the end of the year,” said Ekaterina Zaharieva, the foreign affairs minister for Bulgaria, which now holds the rotating presidency for the EU.
“But of course, it’s much more important to have a good agreement than a worse but faster one,” Zaharieva added in an interview with Reuters at the G20 meeting in Buenos Aires.
Ekaterina Zaharieva, Bulgaria's Foreign Minister and President of the European Union Council of Ministers, speaks during an interview with Reuters at the G20 Meeting of Foreign Affairs Ministers in Buenos Aires, Argentina, May 21, 2018. REUTERS/Marcos Brindicci The latest round of trade talks, in April, made some progress on car exports but ended with finger-pointing about who was holding up a deal.
Trade talks between the two regional blocs have intensified in recent years following more than a decade of stagnation, but plans to close a deal in late 2017 were derailed by differences over South American agricultural exports.
Mercosur includes the grain- and beef-exporting nations of Argentina, Brazil, Paraguay and Uruguay.
Reporting by Maximiliano Rizzi, Writing by Mitra Taj, editing by G Crosse
| ashraq/financial-news-articles | https://www.reuters.com/article/us-argentina-g20-eu-mercosur/eu-official-sees-trade-deal-with-mercosur-toward-year-end-idUSKCN1IM2H5 |
May 10 (Reuters) - Celsius Holdings Inc:
* CELSIUS HOLDINGS DELIVERS RECORD QUARTERLY REVENUE OF $12.1 MILLION, UP 101% YEAR-OVER-YEAR
* QUARTERLY LOSS PER SHARE $0.06 * Q1 REVENUE $12.1 MILLION VERSUS I/B/E/S VIEW $9.9 MILLION Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-celsius-holdings-reports-q1-revenu/brief-celsius-holdings-q1-revenue-12-1-mln-vs-i-b-e-s-view-9-9-mln-idUSASC0A1J1 |
May 1, 2018 / 2:29 PM / Updated 30 minutes ago 'Harry Potter,''Angels in America' among top nominees for Broadway's Tonys Chris Michaud 3 Min Read
NEW YORK (Reuters) - A hit play from the “Harry Potter” franchise joined an acclaimed revival of AIDS drama “Angels in America” to dominate Broadway’s Tony award nominations on Tuesday.
Glenda Jackson and Denzel Washington were nominated for acting Tonys, while “Mean Girls” and “SpongeBob SquarePants: The Musical” scored the most nominations with 12 each, including for best musical.
“Harry Potter and the Cursed Child,” a new play about the grown wizard and his troubled relationship with his teen-aged son, won 10 nominations, including best play and best actor for star Jamie Parker.
The more than five-hour, two-part saga earned raves on Broadway after winning record Olivier awards in London last year.
Another monumental two-part drama, a revival of “Angels in America,” took 11 nominations, including best play revival, best actor Andrew Garfield and best featured actor for Nathan Lane as closeted conservative firebrand Roy Cohn.
Jackson, marking a return to Broadway after three decades, was nominated for best actress in a revival of Edward Albee’s “Three Tall Women,” while Washington won a nod for his star turn in “The Iceman Cometh.” Both shows were nominated for best play revival.
Special Tony awards were announced for rocker Bruce Springsteen, who has extended his sold-out run, and John Leguizamo, whose one-man show “Latin History for Morons” also scored a best play nomination, though the star was not cited for best actor.
Other best musical nominees were “The Band’s Visit,” about Egyptian musicians stranded in a small Israeli town, which had 11 nominations, and “Frozen,” adapted from the hit Disney film.
The other nominees for best new play were “Junk,”“The Children” and “Farinelli and the King.”
Best play revival nominees included “Lobby Hero” and “Travesties,” while best musical revival nominees were led by “Rodgers & Hammerstein’s Carousel” with 11 total nominations, “My Fair Lady,” which brought Diana Rigg a featured actress nomination, and “Once on This Island.”
Tom Hollander in “Travesties” and Mark Rylance in “Farinelli and The King” rounded out the best actor in a play category. Condola Rashad in “Saint Joan,” Lauren Ridloff in “Children of a Lesser God” and Amy Schumer in “Meteor Shower” were the other nominees for best actress in a play.
“Coming back to Broadway is like coming home again,” Washington said after his nomination. “‘The Iceman Cometh’ experience has been especially gratifying,” the past Tony and Oscar winner added, citing, “our sensational director George C. Wolfe and my 18 wonderful castmates.”
The 72nd Tony awards will be presented on June 10 at Radio City Music Hall in New York at a gala ceremony hosted by pop star Josh Groban and singer-songwriter Sara Bareilles, who wrote the hit musical “Waitress.” FILE PHOTO: A general view shows The Palace Theatre where the Harry Potter and The Cursed Child parts One and Two play is being staged, in London, Britain July 30, 2016. REUTERS/Neil Hall Reporting by Chris Michaud; editing by Frances Kerry and Jonathan Oatis | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-awards-tonys-nominations/harry-potter-angels-in-america-among-top-nominees-for-broadways-tonys-idUKKBN1I23P2 |
How we chose the 2018 CNBC Disruptor 50 innovators A record number of companies, nearly 1,000, were nominated for the 2018 CNBC Disruptor 50. The 50 start-ups selected have raised a combined $78 billion in venture capital at an implied valuation of $350 billion. They represent attacks on the status quo in many industries, from finance and fitness to energy and consumer products. CNBC.com George Kavallines | CNBC
The race to grab market share from today's public giants and attain the coveted title "CNBC Disruptor" has never been more competitive. A record 981 companies were nominated for this year's list across every sector of the economy — from social networking to senior living, mining to machine learning. The companies that made the final cut share a common goal of developing revolutionary new technology into lucrative business models to create the next generation of great public companies.This year's Disruptor 50 companies have the potential to upend multibillion-dollar industries. Combined, they have raised $78 billion in venture capital at an implied valuation of more than $350 billion, according to PitchBook. Thirty-two of this year's Disruptor 50 companies have valuations of $1 billion or more — the unicorns. For some an eye-popping valuation is reason enough to put a company on a list of top start-ups. But our approach to selecting the Disruptor 50 focuses on the ideas and the execution behind the big numbers, not just the numbers themselves. ‹
Here's how we picked the 2018 CNBC Disruptor 50.
Companies nominated were required to submit a detailed analysis, including key quantitative and qualitative information.
Quantitative metrics included off-the-record information on sales and user growth, and data from a pair of outside data partners. PitchBook provided data on fundraising and implied valuations, and we used IBISWorld's database of industry reports to compare the companies based on the industries they are attempting to disrupt.
CNBC's Disruptor 50 Advisory Council — a group of 52 leading thinkers in the field of innovation and entrepreneurship — then ranked the quantitative criteria by importance and ability to disrupt established industries and public companies. This year the council found that scalability and user growth were the most important criteria. These categories received the highest weighting, but the ranking model is designed to ensure that companies must score highly on a wide range of criteria to make the final list.
Companies were also asked to submit important qualitative information, including descriptions of recent company developments and a list of the key technologies driving their businesses. A team of CNBC editorial staff, along with members of the advisory council, read the submissions and assigned a holistic qualitative score to each company. This score was combined with a composite quantitative score to determine each company's overall ranking.
Five companies ( Airbnb , Pinterest , Palantir , SpaceX and Uber ) have made the list all six years . Each year, we try to discover what the companies that make the list have done that is new, and these five continue to deliver on the promise of what it means to be a Disruptor.
And there are newcomers as well, disrupting industries from fitness to finance to feminine hygiene. These are the companies that think differently — and force the incumbent giants to do the same.
More from CNBC Disruptor 50: | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/22/how-we-chose-the-2018-cnbc-disruptor-50-innovators.html |
LOS ANGELES--(BUSINESS WIRE)-- Guess?, Inc. (NYSE: GES) will release its financial results for the first quarter of fiscal year 2019, which ended May 5, 2018, on Wednesday, May 30, 2018. The Company will webcast a conference call at 4:45 p.m. (ET) that day to discuss the results.
A live webcast will be accessible at www.guess.com via the “Investor Relations” link. A replay of the conference will be archived on the website for 30 days.
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, footwear and other related consumer products. Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world. At February 3, 2018, the Company directly operated 1,011 retail stores in the Americas, Europe and Asia. The Company’s licensees and distributors operated 652 additional retail stores worldwide. As of February 3, 2018, the Company and its licensees and distributors operated in approximately 100 countries worldwide. For more information about the Company, please visit www.guess.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180517006196/en/
Guess?, Inc.
Fabrice Benarouche
VP, Finance and Investor Relations
(213) 765-5578
Source: Guess?, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/business-wire-guess-inc-to-webcast-conference-call-on-first-quarter-2019-financial-results.html |
May 14, 2018 / 2:15 PM / Updated 24 minutes ago U.S. high court paves way for states to legalize sports betting Lawrence Hurley 6 Min Read
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday paved the way for states to legalize sports gambling, striking down a 1992 federal law that barred it in most places and setting off a rush by businesses and states to cash in on an expected multibillion-dollar jackpot.
The justices endorsed New Jersey’s bid to allow such wagering in a ruling that ushers in a new era for the leading U.S. sports leagues, which had sued to block the state’s sports gambling law and called such betting a threat to the integrity of competition, fearing game-fixing and other types of cheating.
In a ruling that sent shares in gaming companies and casinos higher in brisk trading, the court voided the federal Professional and Amateur Sports Protection Act and upheld the legality of a 2014 state law permitting sports betting at New Jersey casinos and horse racetracks.
“The Supreme Court’s decision today paves the way to an entirely different landscape - one in which we have not previously operated,” the National Hockey League said in a statement.
Some states see sports betting, like lotteries, as a potentially lucrative source of tax revenue. The American Gaming Association estimates there is currently a $150 billion-a-year illegal sports-betting market.
The ruling takes the United States a step closer to legal sports betting in numerous states, perhaps nationwide, rather than just in select places such as Nevada, home to the gambling capital Las Vegas. The 1992 law had effectively prohibited sports gambling in all states except Nevada and, to a limited extent, Delaware, Montana and Oregon.
“New Jersey has long been the lead advocate in fighting this inherently unequal law, and today’s ruling will finally allow for authorized facilities in New Jersey to take the same bets that are legal in other states in our country,” New Jersey Governor Phil Murphy, a Democrat, said in a statement.
The news ignited a rally in gaming stocks, with several companies specializing in gambling technology gaining 10 percent or more. Shares of Scientific Games Corp, which develops gaming systems and sports-betting technology, jumped more than 13 percent to a record high above $60.
Shares of casino and racing facility operators also rose. Churchill Downs, which operates the Kentucky Derby, rose 5.5 percent to a record high, while Penn National Gaming climbed 4.2 percent, also to a record. Caesars Entertainment Corp rose more than 8 percent.
The U.S. subsidiary of British sports betting operator William Hill PLC, which has already been working with state officials in New Jersey on opening a outlet at Monmouth Park racetrack, is one of the companies hoping to capitalize and welcomed the ruling. The company, which derives nearly 20 percent of annual revenue from the United States, saw its shares jump 10.7 percent in London trading.
Legal experts predicted that sports leagues and players’ unions, as well as dozens of states, will seek a cut of the revenue from expanded sports gambling.
In addition to New Jersey, five other states - Connecticut, Mississippi, New York, Pennsylvania and West Virginia - already have sports betting laws in place that would allow them to move quickly, according to a Fitch Ratings report.
New Jersey’s law, championed by Republican former Governor Chris Christie, was challenged in court by the National Football League, Major League Baseball, the National Basketball Association, the National Hockey League and the National Collegiate Athletic Association, the major governing body for intercollegiate sports. ‘POLICY CHOICE’
The justices struck down the entire federal law on a 6-3 vote, with the court’s five conservatives joined by liberal Elena Kagan. Lower courts had ruled against New Jersey’s law.
“The legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own,” Justice Samuel Alito wrote on behalf of the court.
Professional sports leagues have begun to shift their views regarding sports betting. Las Vegas now has an NHL team and will soon have an NFL team, and the NBA’s commissioner called for legalizing sports betting so it can be properly regulated.
“Our most important priority is protecting the integrity of our games. We will continue to support legislation that creates air-tight coordination and partnerships between the state, the casino operators and the governing bodies in sports toward that goal,” an MLB spokesman said in a statement.
Geoff Freeman, president of the American Gaming Association, said his group would work with states, sports leagues and law enforcement “to create a new regulatory environment that capitalizes on this opportunity to engage fans and boost local economies.”
Daily fantasy sports company DraftKings Inc said it is weighing entering the sports betting business following the decision.
New Jersey argued that the federal law infringed upon state sovereignty as laid out in the U.S. Constitution by compelling states not to license or regulate sports betting.
“A great day for the rights of states and their people to make their own decisions,” Christie, who left office in January, wrote on Twitter.
New Jersey’s law allows people age 21 and above to bet on sports at New Jersey casinos and racetracks, but would ban wagers on college teams based in or playing in the state. Police officers stand in front of the U.S. Supreme Court in Washington, DC, U.S., January 19, 2018. REUTERS/Eric Thayer/Files Reporting by Lawrence Hurley; Additional reporting by Andrew Chung, Hilary Russ and Sinead Carew; Editing by Will Dunham | ashraq/financial-news-articles | https://in.reuters.com/article/usa-court-gambling/u-s-top-court-backs-new-jerseys-bid-to-legalize-sports-betting-idINKCN1IF1WV |
May 17, 2018 / 12:06 PM / Updated 5 minutes ago China's LGBT community treads cautiously amid intolerance Christian Shepherd 3 Min Read
BEIJING (Reuters) - China’s LGBT advocates cautiously organised awareness-raising events across the country to celebrate International Anti-Homophobia Day on Thursday amid concern of growing intolerance towards LGBT causes.
One of the events was a 5.17 km run to raise awareness and celebrate the May 17 anniversary of the day in 1990 when the World Health Organization removed homosexuality from a list of diseases.
But organizers told participants to run on their own and not en masse.
An organizer of the runs held in Beijing, Liu Yifu, told Reuters that they did not dare to stage any mass events in the capital this year for fear that proceedings might be interrupted by the authorities.
Many event organizers and volunteers spoken to by Reuters said they had to be wary. Large gatherings and protests without approval are technically illegal in China.
On Sunday, two women handing out rainbow flag stickers during an event in Beijing’s famous 798 art district were hit by security guards, with one woman falling to the floor during the scuffle, according to videos that circulated online.
The incident sparked widespread outrage amongst China’s LGBT community, with many casting it as just the latest in a series of measures tightening the space for LGBT content to be aired on television and discussed online.
Liu said content on his run posted on Weibo, China’s version of Twitter, had disappeared.
“Yesterday, our event already was forwarded and read lots of times, then suddenly lots of Weibo posts disappeared, lots of content was deleted. We were very disappointed.”
Beijing LGBT Center, an advocacy group, organised an event in the capital’s high-tech district of Zhongguancun, where blindfolded volunteers wearing handpainted t-shirts saying “I am gay” stood with arms wide, hoping for hugs from passersby.
Hu Mianlin, a Beijing university student, told Reuters she took part because she thought it would be a more effective way to raise awareness than just writing articles online.
“Even though there are a lot of LGBT people in China, we still don’t have rights to get married and don’t have official approval,” she said.
“Official newspapers won’t do reports on LGBT issues.”
Last week, popular state-backed broadcaster Mango TV was stripped of its licence to air the Eurovision Song Contest by the event’s organizers after censoring a semi-final performance that had what Chinese state media described as “LGBT elements”.
The channel’s decision to cut the song, as well as to pixelate rainbow flags in the audience, was considered particularly shocking to LGBT advocates, as it had previously aired shows touching on LGBT issues.
Award-winning gay romance “Call Me By Your Name” was pulled from the Beijing film festival in March, while a blacklist of banned audiovisual online content last year also controversially included homosexuality. Editing by Nick Macfie | ashraq/financial-news-articles | https://in.reuters.com/article/gay-pride-china/chinas-lgbt-community-treads-cautiously-amid-intolerance-idINKCN1II1NN |
April 30 (Reuters) - Abbott Laboratories:
* ABBOTT LABORATORIES SAYS SHAREHOLDERS REJECTED PROPOSAL REQUESTING CO'S BOARD OF DIRECTORS ADOPT POLICY THAT BOARD CHAIRMAN BE INDEPENDENT DIRECTOR Source text: ( bit.ly/2KqCwQY ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-abbott-laboratories-says-sharehold/brief-abbott-laboratories-says-shareholders-rejected-proposal-requesting-board-of-directors-adopt-policy-that-board-chairman-be-independent-director-idUSFWN1S71D6 |
HOUSTON, May 8, 2018 /PRNewswire/ -- C4 Imaging LLC announces U.S. Food and Drug Administration 510(k) clearance of its second major brachytherapy product, the HDR MRI Marker. This novel, Positive-Signal MRI Marker will be used prior to high dose rate (HDR) brachytherapy to accurately locate the position of the applicators that guide the placement of radioactive sources for the treatment of multiple cancers.
High dose rate (HDR) brachytherapy is a form of radiotherapy and a standard option for the curative treatment of many forms of cancer. HDR brachytherapy involves temporarily placing an applicator or needles into the patient and then using medical imaging to identify their location in relation to the cancer and surrounding healthy tissue. A radioactive source is placed inside the applicator and irradiates the immediate vicinity of the cancer before being removed. The popularity of HDR has increased in recent years due to its effectiveness and convenience; and the majority of Radiation Oncology practices in the US are able to offer the technique.
The precise positioning of HDR applicators and needles prior to treatment is critical for accurate delivery of therapy. Currently, placement of applicators is usually guided by computed tomography (CT) imaging of metal wires that are temporarily placed inside the applicator. These metal wires are not reliably imaged with MRI. C4 Imaging's Positive-Signal HDR MRI Marker allows the superior anatomical imaging properties of MRI to be effectively utilized when planning HDR treatment and offers the potential for effective treatment that minimizes the possibility of side effects.
"510(k) clearance for our HDR MRI Marker is another major milestone for C4 Imaging," said Andrew Bright, President and CEO. "The approval of an additional Radiation Oncology product based on the encapsulation of our unique MRI agent allows accurate positive-signal MRI treatment planning to be offered to all cancer patients suitable for HDR treatment." He added, "With 510(k) clearance of this important product we're able to actively transfer the device to production and will announce commercial availability in the near future."
About C4 IMAGING
C4 Imaging LLC develops medical devices that enable clinicians to more accurately perform image-guided procedures. The company's core proprietary technology, C4, has previously been developed as Sirius™, the first commercially available Positive-Signal MRI Marker, and will soon be available as an HDR MRI Marker that aids accurate MRI –based treatment planning for cancer patients being treated with high dose rate (HDR) brachytherapy. Further information is available at www.c4imaging.com
For further information please contact:
Andrew Bright
President and CEO
C4 Imaging
Tel: 609 933 5895
[email protected]
Copyright © 2018.
Sirius is a trademark of C4 Imaging.
View original content: http://www.prnewswire.com/news-releases/c4-imaging-announces-fda-510k-clearance-of-its-positive-signal-high-dose-rate-hdr-brachytherapy-mri-treatment-planning-marker-300644717.html
SOURCE C4 Imaging | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/pr-newswire-c4-imaging-announces-fda-510k-clearance-of-its-positive-signal-high-dose-rate-hdr-brachytherapy-mri-treatment-planning-marker.html |
PARIS (Reuters) - French police and protesters clashed in Paris on Tuesday after unions, angered by years of public sector pay curbs and President Emmanuel Macron’s economic reforms, urged state employees to stop work on and join nationwide street protests.
It is the third time that labor unions have sought to stage a nationwide show of strength in such a way since Macron began his five-year term in May 2017.
Reuters television images showed riot police charging at protesters with batons in central Paris, firing stun grenades and tear gas. Some protesters destroyed two shops and a bus stop. Police said 20 demonstrators were arrested.
Around 15,000 people demonstrated in the capital, compared with 49,000 during a similar protest in March, authorities said.
The previous round of protests two months ago drew some 320,000 people in all into the streets.
But union officials say the strike wave, unlike pre-Macron versions that successfully torpedoed attempts to liberalize the economy, appears to be losing steam with more and more workers doubting they can force government to change course.
Macron, 40, has shown no sign of surrender so far.
Tuesday’s call came from all of the large labor unions plus many smaller ones and involved organization of street rallies in about 140 cities, towns and villages across France.
French civil servants carry labour union flags as they march behind a banner during a national day of strikes by public sector workers, in Marseille, France, May 22, 2018. REUTERS/Jean-Pauil Pelissier Postal workers, air traffic controllers, state teachers and public administration workers were urged to quit their posts and join marches to denounce what the unions say is an erosion of spending power and the public service itself under Macron.
French electricity grid operator RTE said the strike reduced nuclear electricity generation by 2 gigawatts as several nuclear reactors operated by state-controlled utility EDF were forced to cut production due to the strike.
A spokeswoman for French EDF said around 15.5 percent of the company’s staff participated in the strike.
One catalyst for union anger is a proposal to end certain sick leave perks and cut 120,000 government administration posts. Also on the cards is an increased recourse to contract hiring rather than the job-for-life recruitment that is standard in the French civil service.
In all, France has about 5.7 million employees in government administration, state agencies, schools and hospitals.
The latest protest dovetails with one specific to France’s national railways: services have been disrupted for several days each week since early April by strikes over plans to end the SNCF train company’s monopoly, and with it the hiring of rail workers on contracts more protective than for other sectors.
Slideshow (21 Images) “We’re demonstrating in defense of a public service that is there to serve everyone, wherever in the country they live,” Philippe Martinez, head of the Communist-linked CGT union, told RTL radio.
Additional reporting by Emmanuel Jarry and Caroline Pailliez; Writing by Brian Love; Editing by Mark Heinrich
| ashraq/financial-news-articles | https://www.reuters.com/article/us-france-reform-publicworkers/french-unions-lead-more-protests-against-public-service-shakeup-idUSKCN1IN13Q |
LUXEMBOURG--(BUSINESS WIRE)-- Intelsat S.A. (NYSE:I), operator of the world’s first Globalized Network and leader in integrated satellite communications, today announced that Juan Pablo Cofino has joined the company as Regional Vice President, Latin America and the Caribbean.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180530005234/en/
Juan Pablo Cofino Regional Vice President, Latin America and the Caribbean (Photo: Business Wire)
Cofino will be responsible for the development and implementation of Intelsat’s sales and regional go-to-market strategies for the company’s broadband, mobility, media and government customers operating in Latin America and the Caribbean. He will be based in Intelsat’s Coral Gables office in Florida and report directly to Kurt Riegelman, Intelsat’s Senior Vice President, Sales, Marketing and Communications.
“Juan Pablo’s understanding of Latin American business culture, track record for recruiting and leading high-performing sales teams, and ability to cultivate valuable partner and customer networks make him an important addition to our team,” said Kurt Riegelman. “As we work to support our customers’ business and growth objectives, Juan Pablo innately understands the complex communications challenges facing customers in the region. His strong background and skillset will prove instrumental as we continue to deliver secure, fast, seamless, high-quality broadband access and content distribution to businesses and communities throughout the region.”
Cofino joins Intelsat from ATN International, where as president, Caribbean & Latin America, he managed telecom operations on Guyana, the U.S. Virgin Islands, Bermuda, Aruba and the Cayman Islands. He designed and coordinated business strategy and product initiatives for mobile wireless, broadband internet and home fixed business units as well as helped define the company’s vision, strategy, technical and commercial road map, financial budgets and capital allocation plans. Prior to that, he held sales and business unit management positions at Milicom (Tigo) and Grupo Progreso.
Cofino earned a Bachelor of Science in Industrial Engineering from North Carolina State University in Raleigh, North Carolina, and a Masters of Business Administration in Business, Management, Marketing and Related Support Services from Pontificia Universidad Católica de Chile in Santiago.
About Intelsat
Intelsat S.A. (NYSE: I) operates the world’s first Globalized Network, delivering high-quality, cost-effective video and broadband services anywhere in the world. Intelsat’s Globalized Network combines the world’s largest satellite backbone with terrestrial infrastructure, managed services and an open, interoperable architecture to enable customers to drive revenue and reach through a new generation of network services. Thousands of organizations serving billions of people worldwide rely on Intelsat to provide ubiquitous broadband connectivity, multi-format video broadcasting, secure satellite communications and seamless mobility services. The end result is an entirely new world, one that allows us to envision the impossible, connect without boundaries and transform the ways in which we live. For more information, visit www.intelsat.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20180530005234/en/
Intelsat
Michele Loguidice, +1-703-559-7372
Director, Corporate Communications
[email protected]
Source: Intelsat | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/30/business-wire-intelsat-appoints-juan-pablo-cofino-regional-vice-president-latin-america-and-the-caribbean.html |
May 8, 2018 / 1:21 AM / Updated 30 minutes ago ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Men's Singles Results Reuters Staff 1 Min Read May 8 (OPTA) - Results from the ATP World Tour Masters 1000 / WTA Premier, Madrid Masters Men's Singles matches on Monday .. 1st Round .. Gael Monfils (FRA) beat Nikoloz Basilashvili (GEO) 6-2 3-6 6-3 Feliciano Lopez (ESP) beat Pablo Andujar (ESP) 7-6(4) 6-3 13-Diego Schwartzman (ARG) beat Adrian Mannarino (FRA) 6-1 6-3 Federico Delbonis (ARG) beat Mischa Zverev (GER) 6-1 2-6 7-6(6) Damir Dzumhur (BIH) beat Julien Benneteau (FRA) 6-4 6-2 Dusan Lajovic (SRB) beat Karen Khachanov (RUS) 6-3 6-2 Mikhail Kukushkin (KAZ) beat Roberto Carballes Baena 6-3 6-2 (ESP) 10-Novak Djokovic (SRB) beat Kei Nishikori (JPN) 7-5 6-4 Benoit Paire (FRA) beat 15-Lucas Pouille (FRA) 6-2 6-3 Milos Raonic (CAN) beat Nicolas Kicker (ARG) 6-3 6-2 | ashraq/financial-news-articles | https://uk.reuters.com/article/tennis-atp-results-mens-singles/atp-world-tour-masters-1000-wta-premier-madrid-masters-mens-singles-results-idUKMTZXEE58DYDIVQ |
May 8, 2018 / 12:02 AM / Updated 17 hours ago Paine to captain Australia's ODI team in England Reuters Staff 4 Min Read
MELBOURNE (Reuters) - Cricket Australia said on Tuesday that test skipper Tim Paine will also captain the one-day international team during next month’s tour of England, but selectors are yet to decide who will lead the side’s title defence at the 2019 World Cup. Cricket - South Africa v Australia - Fourth Test - Wanderers Stadium, Johannesburg, South Africa - April 1, 2018 Australia's Tim Paine in action REUTERS/Siphiwe Sibeko
Paine was named skipper of a 15-man squad for the five-match series, Australia’s first since the ball-tampering scandal which led to lengthy bans for former test and ODI captain Steve Smith, his deputy David Warner and batsman Cameron Bancroft.
Selectors have installed Aaron Finch as the ODI team’s vice-captain in place of the disgraced Warner and named the Victorian as captain of the Twenty20 side also released on Tuesday.
Australia will play five one-dayers and a T20 match against England from June 13-27, a warmup for the global tournament in the same country next year, before heading to Zimbabwe for a T20 tri-series against the host nation and Pakistan starting on July 1.
“Tim is a strong leader and will captain the side for this series, supported by Aaron,” selector Trevor Hohns said in a media release.
“A decision on a permanent one-day captain will be made in due course.”
Smith led Australia across all three formats but there are concerns that such a burden could be too heavy for wicketkeeper Paine, who was hurried in as a replacement for Smith as test captain after the tampering scandal broke during the third test of the South Africa tour.
South Australia’s Alex Carey, a wicketkeeper batsman, has been included in the ODI squad but Paine will retain the gloves in England.
The squad features an uncapped player in D’Arcy Short, a left-handed opener who impressed in his debut T20I series against New Zealand in February, while test spinner Nathan Lyon has been recalled for the first time since 2016.
“England potentially have a number of left-handers in their side and we look forward to seeing what (Lyon) can produce with the white-ball in English conditions,” said Hohns.
Australia will be without leading pacemen Mitchell Starc and Pat Cummins, who were injured during the calamitous series in South Africa and are not expected back until the test tour against Pakistan in the United Arab Emirates.
Josh Hazlewood will instead lead a rookie pace battery which includes Kane Richardson, Jhye Richardson, Andrew Tye and Billy Stanlake.
The Twenty20 squad also features a pair of uncapped players, with Queensland all-rounder Jack Wildermuth and his spin bowling team mate Mitchell Swepson.
Swepson, who was a surprise inclusion in Australia’s test squad for the tour of India last year but never played, replaces fellow legspinner Adam Zampa.
Hard-hitting batsman Nic Maddinson returns to the T20I frame for the first time in four years, with Carey appointed the squad’s vice-captain.
ODI squad:
Tim Paine (captain), Aaron Finch, Ashton Agar, Alex Carey, Josh Hazlewood, Travis Head, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Jhye Richardson, Kane Richardson, D’Arcy Short, Billy Stanlake, Marcus Stoinis, Andrew Tye.
T20 squad:
Aaron Finch (captain), Alex Carey, Ashton Agar, Travis Head, Nic Maddinson, Glenn Maxwell, Jhye Richardson, Kane Richardson,
D’Arcy Short, Billy Stanlake, Marcus Stoinis, Mitchell Swepson,
Andrew Tye, Jack Wildermuth. | ashraq/financial-news-articles | https://in.reuters.com/article/cricket-australia-squads/australia-limited-overs-squads-for-tour-of-england-zimbabwe-idINKBN1I82MP |
(Reuters) - Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc in one of the world’s biggest emerging markets.
FILE PHOTO: The Walmart logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 1, 2018. REUTERS/Brendan McDermid/File Photo The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, China’s Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp, the company said in a statement on Wednesday.
The investment was more than the $10-12 billion given by sources close to the deal in the past week.
Walmart said it expected the deal to knock about 25-30 cents off its earnings in fiscal 2019, assuming the deal closes at the end of the second quarter.
It also said that the deal included $2 billion of funding from new equity in Flipkart, which could be sold to additional investors in the future, diluting the U.S. company’s overall stake.
FILE PHOTO: The logo of India's e-commerce firm Flipkart is seen on the company's office in Bengaluru, April 12, 2018. REUTERS/Abhishek N. Chinnappa/File Photo Reporting by Siddharth Cavale in Bengaluru; editing by Patrick Graham
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://in.reuters.com/article/flipkart-m-a-walmart-stake/walmart-buys-controlling-stake-in-indias-flipkart-for-16-billion-idINKBN1IA1HD |
May 11, 2018 / 2:47 PM / Updated 34 minutes ago Motor racing - Hockenheim says any new F1 contract must be risk-free Alan Baldwin 3 Min Read
BARCELONA (Reuters) - German Grand Prix organisers say they cannot afford to host the Formula One race at Hockenheim on current terms after this year and any new contract has to be free of financial risk.
The circuit, near Mannheim in the Upper Rhine valley, ends in July a 10-year deal agreed with former F1 supremo Bernie Ecclestone.
The Briton’s business model was based on hefty hosting fees, increasing on an annual basis, but Ecclestone was replaced at the helm in January last year when Liberty Media took over.
Liberty have said they want to protect traditional venues and Hockenheim, as well as Britain’s Silverstone, could be a test of how much they are prepared to put their money where their mouth is.
“We would like to have it (the race) in the future but the key point is we cannot prolong under current conditions,” Hockenheim-Ring marketing director Jorn Teske told reporters at the Spanish Grand Prix on Friday.
“We would like to have a contract which will take the risk from us. This is the basic point...we cannot continue in the same way.
“We think we should restructure the business model. This could be track rental, but it could be also sharing of ticket income and sharing of costs.”
Hockenheim receives no state funding whereas other countries with little or no motorsport heritage — like Azerbaijan, Singapore and Abu Dhabi — pay tens of millions of dollars to host races.
With Miami likely to debut next year, and Vietnam in the pipeline as well as Danish backers proposing a race in Copenhagen, Liberty have plenty of options.
“It’s a financial decision they have to take,” said Teske. “Do they take the big money, let’s say? Then we are out. Or do they believe in the importance of the traditional racetracks and an important automotive country, Germany?
“Now it’s up to them to think about and find a solution together with us.”
In the recent past, Hockenheim alternated with the Nuerburgring — another historic circuit dating from before World War Two but one which has had financial problems and changed ownership.
Teske said a revived alternation would work well but Hockenheim, home for champions Mercedes and Ferrari’s Sebastian Vettel, would be prepared to go it alone if the deal was right.
“We don’t know what they (Nuerburgring) have discussed with Liberty but what we know is they have the same objective as we have. They don’t want to lose money,” added Teske. “And they don’t want to take risks as well.
“One year them, one year us is clever. It’s good.”
Organisers said 60,000 tickets had been sold so far for July’s race, more than in 2016 and around break-even.
Some 10,000 of them were fans of Red Bull’s Dutch driver Max Verstappen coming over the border. Reporting by Alan Baldwin, editing by Ian Chadband | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-motor-f1-hockenheim/motor-racing-hockenheim-says-any-new-f1-contract-must-be-risk-free-idUKKBN1IC1SB |
Miami, Florida, Crystal River Cruises , the World’s Most Luxurious River Cruise Line™, officially welcomed its newest ship to the fleet today, as Crystal Debussy was christened in Amsterdam. Marking the occasion were Crystal’s president and CEO, Tom Wolber, Crystal River Cruises’ vice president and managing director, Walter Littlejohn, and Crystal Debussy’s godmother, Broadway star Rachel York.
Captain Ferenc (Captain, Crystal Debussy), Tom Wolber (President & CEO, Crystal Cruises), Walter Littlejohn (Vice President and Managing Director, Crystal River Cruises) and Rachel York (Godmother)
Tom Wolber (President & CEO, Crystal Cruises), Walter Littlejohn (Vice President and Managing Director, Crystal River Cruises, Captain Ferenc (Captain, Crystal Debussy) and Rachel York (Godmother)
The ceremony took place during the ship’s three-day stay in Amsterdam on its 10-day “Splendors of the Rhine” voyage, allowing guests aboard the sailing to participate in the traditional festivities, while Crystal crew members looked on from the decks of the ship.
“Crystal River Cruises has raised the bar of excellence with each new ship, and now again as Crystal Debussy joins the fleet, effectively redefining true luxury in the river industry,” Wolber said. “At the heart of this achievement are the crew and officers, all of whom are members of the Crystal team that ensure that every detail of our guests’ experience is seamless, from ship to shore.”
Littlejohn, who presided over the ceremony as emcee, added, “It is fitting that our crew and guests, as well as representatives from our parent company and the city and port of Amsterdam are all part of this milestone for Crystal Debussy and the Crystal River fleet. They each embody elements of the Crystal Family and our vision to create the most memorable luxury travel experiences in the world.”
Godmother Rachel York serenaded guests with her rendition of “Defying Gravity,” a nod to her esteemed career on the stages of the world, including those aboard Crystal’s ships as part of the Crystal on Broadway program.
“Crystal Debussy is an exquisitely-designed ship and her crew are so warm and welcoming,” York said. “I am truly honored to be the Godmother of this beautiful ship.”
Crystal Debussy joins Crystal River Cruises, which was voted “Best River Cruise Line” by the readers of Travel + Leisure in the magazine’s 2017 World’s Best Awards.
Sailing itineraries between Amsterdam and Basel, the 106-guest Crystal Debussy embarked on her maiden voyage along the Rhine River on April 9. Guests visit ports in the Netherlands and Belgium on her seven-day itinerary, with 10-day voyages also calling in Germany. Throughout 2018 and 2019, the ship sails routes of seven and 10 days between Amsterdam and Basel along the Rhine and Moselle rivers, visiting Switzerland, Germany, Netherlands and Belgium.
Crystal’s new river vessels are the river cruising industry’s first and only all-balcony, all-suite, all-butler vessels in Europe, with every category of accommodation positioned above the waterline. They offer Crystal’s acclaimed butler service in every room category, king-sized beds, Panoramic Balcony-Windows™, walk-in closets and dual vanity in the bathrooms in most categories, ETRO amenities, robes and slippers, and wall-mounted flat-screen HD TVs. Additional enticing features include farm-to-table cuisine in multiple, open-seating eateries: the elegant Waterside Restaurant, namesake Bistro cafés and the exclusive Vintage Room; and the Palm Court for entertainment, enrichment presentations and sweeping views of the countryside.
About Crystal
The world-renowned Crystal Experience – featuring global journeys with Crystal Cruises, Crystal River Cruises, Crystal Yacht Expedition Cruises, Crystal AirCruises and Crystal Luxury Air – continues to be the distinctive choice of the world’s most discerning travelers. Crystal Cruises is the World’s Most Awarded Luxury Cruise Line, having earned “World’s Best Cruise Ship” in Condé Nast Traveler’s Reader Choice Awards and been voted “World’s Best Large Ship Cruise Line” by Travel + Leisure readers more than any cruise line, hotel or resort in history; and the “Best Luxury Cruise Line” by travel professional organization Virtuoso for three consecutive years (2014, 2015 & 2016). The readers of Travel + Leisure also voted Crystal River Cruises the “World’s Best River Cruise Line” and Crystal Yacht Expedition Cruises the “World’s Best Small-Ship Cruise Line” in 2017. Crystal is proud to be a platinum partner of ASTA. For more information and Crystal reservations, contact a travel professional, call 888.799.2437, or visit www.crystalcruises.com . Join the hundreds of thousands who subscribe to the Crystal Insider blog, follow Crystal Cruises’ Facebook page and @crystalcruises on Twitter and Instagram , and engage in the conversation with #crystalcruises.
###
Attachments
Crystal_Debussy_Christening_Ceremony_1 Crystal_Debussy_Christening_Ceremony_3 Media Relations Crystal Cruises 3102034305 [email protected]
Source:Crystal Cruises | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/28/globe-newswire-crystal-debussy-officially-joins-crystal-river-cruises-fleet-during-christening-ceremony-in-amsterdam.html |
Trading autos: 3 picks 21 Hours Ago The "Fast Money" traders give you 3 auto picks following news that 2 Ford F-150 plants will shut down due to supply shortage. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/09/trading-autos-3-picks.html |
SAN JOSE, Calif., Cisco (NASDAQ:CSCO) announced today it has completed the acquisition of Accompany, a privately held company based in Los Altos, Calif. The company provides an AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships. Accompany’s AI technology and talent will help Cisco accelerate priority areas across its collaboration portfolio.
Cisco acquired Accompany for $270 million in cash and assumed equity awards. Accompany Founder and CEO Amy Chang has been named senior vice president in charge of Cisco’s Collaboration Technology Group (CTG). The Accompany team joins the CTG under Chang’s leadership.
About Cisco
Cisco (NASDAQ:CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.
RSS Feed for Cisco: http://newsroom.cisco.com/rss-feeds
Forward-Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Accompany’s AI technology and talent helping Cisco accelerate priority areas across its collaboration portfolio, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Accompany personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due a variety of factors, including, among other things, the potential impact on the business of Accompany due to the uncertainty about the acquisition, the retention of employees of Accompany and the ability of Cisco to successfully integrate Accompany and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
Press Contact: Industry Analyst Contact: Investor Relations Contact: Robyn Jenkins-Blum Ben Culp Carol Villazon +1 408 930 8548 +1 949 823 3787 +1 408 527 6538 [email protected] [email protected] [email protected]
Source:Cisco | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/globe-newswire-cisco-completes-acquisition-of-accompany.html |
May 9, 2018 / 12:39 PM / Updated 3 minutes ago Germany's AfD decides not to expel critic of Holocaust memorial Reuters Staff 2 Min Read
BERLIN (Reuters) - A senior member of the far-right Alternative for Germany party will not be expelled for criticising the Holocaust memorial in Berlin, the party said on Wednesday. FILE PHOTO: FILE PHOTO: Bjoern Hoecke of the right-wing Alternative for Germany stands outside the former Nazi concentration camp Buchenwald near Weimar, Germany, January 27, 2017. REUTERS/Hannibal Hanschke/File Photo/File Photo
Member of the AfD had voted to expel Bjoern Hoecke after a speech in which he criticised the memorial in Berlin to victims of the Nazi Holocaust as a “monument of shame”. AfD leaders reprimanded Hoecke, who is the party head in the eastern state of Thuringia, for damaging the party’s image.
The decision by the AfD’s internal arbitration court in Thuringia, already made on Monday, puts an end to legal proceedings that have been going on since February last year.
The arbitration court decided that Hoecke’s speech did not indicate an allegiance to Nazi ideology and that he had not violated the party’s regulations. It found no grounds for his expulsion.
“The proposal of his expulsion was purely motivated by power politics, as Bjoern Hoecke violated neither the constitution nor the regulations of the party,” said Stefan Moeller, the party’s spokesman in Thuringia.
After federal elections last September, the AfD became the third-largest party in the Bundestag, the lower house of parliament.
Set up in 2013 by an economist to oppose euro zone bailouts, the AfD has since morphed into an anti-immigration party, drawing support from Germans angry about Chancellor Angela Merkel’s decision in 2015 to welcome refugees. Reporting by Laura Dubois; editing by Larry King | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-germany-afd/germanys-afd-decides-not-to-expel-critic-of-holocaust-memorial-idUKKBN1IA1V0 |
MONTREAL, May 23, 2018 (GLOBE NEWSWIRE) -- Beaufield Resources Inc. (TSX-V:BFD) (the “Corporation” or “Beaufield”) is pleased to announce that it has entered into a letter of intent (“LOI”) with Bonterra Resources Inc. (“Bonterra”), whereby the Corporation has granted Bonterra an option to acquire a 70% interest (the “Option”) in 81 mineral claims totaling 3,590 hectares, located in the Urban Barry Greenstone belt, Quebec, Canada (the “Property”).
Map1-Urban
Map2_Rouleau
The Property is an assemblage of contiguous mineral claims located immediately adjacent to the boundaries of Bonterra’s Urban Barry properties containing the Gladiator Deposit and extensions. This land package also contains numerous gold showings with expansion potential including Lac Rouleau and Zone 18. The general geology is considered to be similar to that of the Gladiator area, with numerous occurrences of structurally controlled shear hosted vein mineralization on or near mafic volcanic contacts in proximity to both felsic and mafic intrusive units.
“We believe this transaction with Bonterra represents a win-win for the shareholders of both companies. In addition to receiving the cash and share payments, Beaufield will retain a 30% interest in the project as Bonterra fulfils the $4.5 million work commitment. Bonterra, in turn, has the resources to aggressively advance the property which dovetails nicely with their existing Gladiator discovery. In addition, Beaufield will retain 100% of the northern portion of the Rouleau block, covering 3,261 hectares, which is contiguous with Osisko Mining’s Windfall project. Furthermore, Beaufield will retain 100% of the Macho, Golden Retriever and other district claims covering an additional 15,474 hectares in this emerging gold camp. We look forward to working with Bonterra as we look to unlock the value of this portion of the property,” commented Ron Stewart, President and CEO of Beaufield. ( See figures attached).
Map 1 is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/08e338aa-94c5-43c5-8398-99926f8f82e1
Map 2 is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/11d2f424-77d6-47c2-932e-a4c8079a3557
Under the terms of the LOI, which will be formalized by a definitive agreement (the “Agreement”), Bonterra can earn a 70% interest in the Property by issuing 4,000,000 common shares to Beaufield upon closing of the Agreement, paying Beaufield a total of $750,000 in equal amounts over a three-year period ($250,000 upon closing of the Agreement), and incurring a total of $4,500,000 in exploration expenditures on the Property over three years.
Upon completion of the Option, the parties will enter into a joint venture agreement on standard industry terms.
The transaction is subject to the acceptance of the TSX Venture Exchange.
Qualified Persons
This news release has been prepared and approved by Ronald Stewart, P. Geo., President and CEO of Beaufield and Mathieu Stephens, P. Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Persons, as defined by National Instrument 43-101.
About Beaufield:
Beaufield is a mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield's website to view the Corporation's properties in Urban, Eleonore-Opinaca, Tortigny, Hemlo and Launay. The Corporation is actively exploring, is well financed with approximately $5 million in working capital, has no debt and has excess work credits on its properties.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
Ronald Stewart, President and CEO : Tel: 647.409.0293 Mathieu Stephens, VP Exploration and Corporate Development: Tel: 514.842.3443 E-mail: [email protected] Web: www.beaufield.com
Source: Ressources Beaufield inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/23/globe-newswire-beaufield-options-70-percent-interest-in-a-block-of-claims-to-bonterra-resources-contiguous-to-the-gladiator-gold-deposit.html |
BENGALURU/KOCHI (Reuters) - A rare virus spread by fruit bats, which can cause flu-like symptoms and brain damage, has killed 10 people in southern India, health officials said on Tuesday, with at least nine more being treated.
Medics wearing protective gear examine a patient at a hospital in Kozhikode in the southern state of Kerala, India May 21, 2018. REUTERS/Stringer Infectious disease outbreaks can be a challenge in India, the world’s second most populous country, where infection control and surveillance systems are weak, leading to hundreds of deaths annually from diseases such as mosquito-borne dengue.
There is no vaccine for the Nipah virus, which is spread through body fluids and can cause encephalitis, or inflammation of the brain, the World Health Organization (WHO) says. The usual treatment is to provide supportive care.
The first death in the outbreak in Kerala took place on Friday, the state’s health minister, K.K. Shailaja, said.
“This is a new situation for us. We have no prior experience in dealing with the Nipah virus,” she said. “We are hopeful we can put a stop to the outbreak.”
Of 18 people screened for the virus, 12 proved positive, Shailaja told a news conference, adding that 10 of the sufferers had died and the other two were being closely monitored.
Medics wearing protective gear examine a patient at a hospital in Kozhikode in the southern state of Kerala, India May 21, 2018. REUTERS/Stringer The Indian government dispatched a team of officials from the National Centre for Disease Control (NCDC) to investigate the outbreak, it said in a statement.
“Since all the contacts are under observation and steps to avoid exposure through animal vectors have been taken, there is no reason for people to panic,” it added.
The WHO is in contact with government officials in the affected areas, Henk Bekedam, its India representative, said in a statement.
Health experts stressed the need for early detection and infection control to arrest the virus’s spread.
People wearing masks are seen at a hospital in Kozhikode in the southern state of Kerala, India May 21, 2018. REUTERS/Stringer “It will not spread like wildfire because it is not airborne, but it can be risky if they don’t follow proper infection control procedures,” said Dr D Himanshu, of King George’s Medical University in the northern city of Lucknow.
While the cause of the outbreak is still being investigated, visiting national health officials tied the initial deaths to “many bats” in a well in Kerala from which the victims drew water, the government said.
Samples from those bats were among the 60 sent to laboratories to be screened for the virus, it added.
The cases provoked concern among residents, a local government official said.
“A large number of people affected by fever, and even minor ailments, are swarming to hospitals, fearing they have contracted the disease,” said U.V. Jose.
Health officials in Kerala, which attracts many tourists, aims to soon issue a travel advisory, tourism official P Bala Kiran said.
The Nipah virus was first detected in Malaysia in 1998, and India has suffered two outbreaks in the last decade, killing 50 people, according to the WHO.
Reporting by Munsif Vengattil in Bengaluru and D. Jose in Kochi; Additional reporting and writing by Zeba Siddiqui; Editing by Euan Rocha and Clarence Fernandez
| ashraq/financial-news-articles | https://www.reuters.com/article/us-india-virus/rare-brain-damaging-virus-kills-10-in-india-prompts-rush-to-hospitals-idUSKCN1IN117 |
DUBLIN (Reuters) - Ryanair ( RYA.I ) Chief Executive Michael O’Leary said on Monday he was not expecting strikes or disruptions over its discussions to recognize trade unions but could not rule them out and would face any action down.
Ryanair averted the threat of widespread Christmas strikes by unilaterally recognizing unions in December for the first time in its 32-year history, but it has struggled to formalize relations in some countries.
“We’re not expecting them, but it’s important for investors that we don’t rule them out. If there are (strikes), we will take them as we have in Germany and Portugal. Being unionized means we will have occasional strikes,” O’Leary said in a video presentation following quarterly results.
O’Leary added that he expected to finalize pilot recognition agreements in Spain and Germany in the next few months and that Ryanair was also on track to sign its first cabin crew recognition agreements in a month or two.
Reporting by Padraic Halpin, editing by Louise Heavens
| ashraq/financial-news-articles | https://www.reuters.com/article/us-ryanair-results-ceo/ryanair-ceo-says-not-expecting-strikes-but-cannot-rule-them-out-idUSKCN1IM0HN |
The Milwaukee Bucks officially named Mike Budenholzer as the team’s new head coach Thursday.
Mar 2, 2018; Atlanta, GA, USA; Atlanta Hawks head coach Mike Budenholzer shows emotion against the Golden State Warriors in the third quarter at Philips Arena. Mandatory Credit: Brett Davis-USA TODAY Sports Budenholzer and the Bucks reportedly agreed in principle to a four-year contract on Wednesday.
“After a thorough coaching search, it was clear that Mike was the ideal choice as we enter into a new era of Bucks Basketball,” said Bucks owners Wes Edens, Marc Lasry and Jamie Dinan in a statement. “Mike has demonstrated the ability to lead and communicate, and understands what it takes to build a winning culture. This move puts our organization in a terrific position as we work together toward our collective goal of sustained success and winning championships.”
ESPN reported on Tuesday that Budenholzer, the front-runner for the job, and San Antonio Spurs assistant Ettore Messina, the other finalist, were meeting with ownership in a second round of interviews. Budenholzer met over breakfast with Bucks forwards Giannis Antetokounmpo and Khris Middleton on Wednesday morning before the team extended a formal offer, according to ESPN.
Antetokounmpo indicated he was pleased with the hire.
“He’s a great coach. He was the coach of the year (three seasons ago),” Antetokounmpo told ESPN. “We had a great conversation and talked about the game plan, how he views me as a player, how he can help this team. I had a lot of tough questions for him. But it was fun, I’m excited to play for him.”
Budenholzer, 48, was the 2014-15 NBA Coach of the Year but was released from his contract with the Atlanta Hawks at the end of this regular season to pursue other opportunities. He spoke with the Phoenix Suns and the New York Knicks about their respective coaching vacancies earlier this offseason, but he pulled his name out of discussion for the Suns job.
“Mike has played a key role in building successful teams throughout his career,” general manager Jon Horst stated. “He’s widely respected and has shown a special ability to teach and develop players. His leadership, basketball intellect, championship-level experience and communication skills make him the right fit to take our team to the next level.”
Budenholzer went 213-197 in his five seasons in Atlanta, leading the team to four playoff appearances before this season’s 24-58 record. He previously served as a Spurs assistant for 17 years.
“I’m extremely grateful to the Bucks ownership group and Jon Horst to be named the next head coach of the Milwaukee Bucks,” Budenholzer stated. “There are terrific people throughout the organization and together we have a tremendous opportunity to take the Bucks to the next level. I look forward to working with our group of young and exciting players and helping us evolve in many ways to succeed on the court.”
Milwaukee parted with Jason Kidd in January and assistant coach Joe Prunty served the rest of the season as interim head coach. Others to interview for the job this spring included Spurs assistant Becky Hammon — the first woman ever to interview for an NBA head coaching job — and Spurs vice president of basketball operations Monty Williams.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/us-basketball-nba-mil-budenholzer/bucks-name-budenholzer-head-coach-idUSKCN1IJ09M |
PEMBROKE, Bermuda--(BUSINESS WIRE)-- The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE:RNR) announced today a quarterly dividend of $0.33 per common share on its common shares.
The dividend is payable on June 29, 2018, to shareholders of record on June 15, 2018.
About RenaissanceRe
RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, the Company has offices in Bermuda, Ireland, Singapore, Switzerland, the United Kingdom and the United States.
View source version on businesswire.com : https://www.businesswire.com/news/home/20180514006137/en/
Investor:
RenaissanceRe Holdings Ltd.
Keith McCue
Senior Vice President, Finance & Investor Relations
441-239-4830
Media:
RenaissanceRe Holdings Ltd.
Keil Gunther
Vice President, Marketing & Communications
441-239-4932
Kekst and Company
Peter Hill or Dawn Dover, 212-521-4800
Source: RenaissanceRe Holdings Ltd. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/14/business-wire-renaissancere-holdings-ltd-announces-quarterly-dividend.html |
May 24, 2018 / 6:30 PM / Updated 7 minutes ago Syrian air defence intercepts missile attack on airport - state media Reuters Staff 2 Min Read
BEIRUT (Reuters) - Syrian state media said a military airport near Homs city had come under missile attack which was repelled by its air defence systems on Thursday.
“One of our military airports in the central region was exposed to a hostile missile attack, and our air defence systems confronted the attack and prevented it from achieving its aim,” state news agency SANA said.
SANA earlier reported sounds of explosions heard near the Dabaa airport, about 20 km (12 miles) southwest of the central Syrian city of Homs and 10 km (6 miles) from the Lebanese border.
Syrian state media did not comment on the origin of the missile attack.
Israel, which fears Iran and Iran-backed Lebanese group Hezbollah are turning Syria into a new front against it, has struck targets in the country many times during the war, hitting the Syrian army, Hezbollah and what it has characterized as Iran-backed positions.
An Israeli military spokeswoman declined to comment.
Britain-based war monitor the Syrian Observatory for Human Rights said troops belonging to Hezbollah and other militias allied to Syrian President Bashar al-Assad are stationed in the Dabaa military airport. It had no information on casualties.
Pentagon spokesman Lieutenant Colonel Kone Faulkner, when asked about reports of the attack, said the U.S.-led coalition fighting Islamic State in Syria did not carry it out and the coalition does not target Syrian government positions. Reporting by Lisa Barrington in Beirut; Additional reporting by Dan Wiliams in Jerusalem and Idrees Ali in Washington; Editing by Angus MacSwan | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-mideast-crisis-syria-homs/syrian-air-defence-intercepts-missile-attack-on-airport-state-media-idUKKCN1IP39X |
May 7(Reuters) - Tsumura & Co
* Rating and Investment Information, Inc. (R&I) affirmed the company’s rating at “A” – R&I
* Rating outlook stable– R&I
Source text in Japanese: goo.gl/9Y7mDQ
(Beijing Headline News)
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-ri-affirms-tsumura-cos-rating-at-a/brief-ri-affirms-tsumura-cos-rating-at-a-and-says-stable-outlook-ri-idUSL3N1SE2G6 |
May 2, 2018 / 10:28 AM / Updated 27 minutes ago BRIEF-Giga Media Reports Qtrly Loss Per Share $0.08 Reuters Staff
May 2 (Reuters) - Giga Media Ltd:
* GIGA MEDIA LTD - QTRLY LOSS PER SHARE $0.08
* GIGA MEDIA LTD - CONSOLIDATED REVENUES FOR THE Q1 2018 INCREASED 6.5% QUARTER-ON-QUARTER TO $2.2 MILLION FROM $2.0 MILLION IN Q4 2017 Source text: ( bit.ly/2I4AuYr ) Further company coverage: | ashraq/financial-news-articles | https://www.reuters.com/article/brief-giga-media-reports-qtrly-loss-per/brief-giga-media-reports-qtrly-loss-per-share-0-08-idUSFWN1S90MH |
AMSTERDAM, May 16 (Reuters) - Chlorine gas was probably used in an attack in February in Saraqib in the northwestern Syrian province of Idlib, the global chemical weapons agency said on Wednesday.
The Organisation for the Prohibition of Chemical Weapons did not say which side used the banned munitions, but that laboratory tests confirmed the presence of chlorine. (Reporting by Anthony Deutsch; editing by John Stonestreet)
| ashraq/financial-news-articles | https://www.reuters.com/article/mideast-crisis-syria-chemicalweapons/chlorine-likely-used-in-february-attack-in-idlib-syria-opcw-chemical-weapons-agency-idUSA5N1NS027 |
May 9 (Reuters) - QuickLogic Corp:
* Q1 REVENUE $2.8 MILLION VERSUS I/B/E/S VIEW $3 MILLION * Q1 NON-GAAP LOSS PER SHARE $0.04
* Q1 EARNINGS PER SHARE VIEW $-0.04 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-quicklogic-reports-q1-gaap-loss-pe/brief-quicklogic-reports-q1-gaap-loss-per-share-0-05-idUSASC0A13U |
SYDNEY (Reuters) - Australia said on Monday it was recalling an additional 1.1 million cars fitted with Takata Corp TKTDQ.PK air bags, increasing the size of the country’s biggest ever compulsory recall to just under four million cars.
FILE PHOTO: The logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo, Japan, February 9, 2017. REUTERS/Toru Hanai/File Photo The Takata air bags have been linked to at least 18 deaths and 180 injuries globally because the inflators can rupture and shoot metal fragments into vehicles, leading to mass recalls around the world.
Australia has already ordered that manufacturers, including Audi ( NSUG.DE ), Ford ( F.N ), Volkswagen ( VOWG_p.DE ) and Toyota ( 7203.T ), replace almost three million air bags by Dec. 31, 2020, or face fines of A$1.1 million ($857,000) per breach.
The Australian Consumer and Competition Commission (ACCC) said on Monday the additional 1.1 million vehicle models would be recalled at a later, unspecified date.
Michael Sukkar, assistant minister to the Treasurer, said drivers of the vehicles added to the list would be informed of the timetable for replacement directly.
Pressure is growing on manufacturers globally to meet recall timetables.
The U.S. auto safety agency said earlier this month it wanted to meet with 12 major automakers that failed to fulfil a December 2017 target deadline for completing repairs on the highest-priority vehicles.
Takata has been hit hard by the scandal, filing for bankruptcy a year ago as it sought court protection from creditors after almost a decade of recalls and lawsuits.
Reporting by Colin Packham; Editing by Peter Cooney, Jane Wardell and Michael Perry
| ashraq/financial-news-articles | https://www.reuters.com/article/us-australia-takata-recall/australia-orders-recall-of-further-1-1-million-cars-fitted-with-takata-air-bags-idUSKCN1IS0TY |
May 16, 2018 / 5:48 PM / Updated 25 minutes ago Tennis-Nadal cruises into Italian Open third round, Thiem exit Reuters Staff 2 Min Read
ROME, May 16 (Reuters) - Rafa Nadal got his claycourt season back on track with a 6-1 6-0 victory over Bosnian Damir Dzumhur to reach the third round of the Italian Open on Wednesday, while sixth-seed Dominic Thiem suffered an early exit.
Nadal, who lost his number world one ranking after his 14-match winning run on clay was snapped by Thiem in the Madrid Open quarter-finals last week, was back to his best as he wrapped up victory with a blistering forehand winner.
“It was important, after a loss in Madrid, to come back strong,” the 31-year-old, who received a bye in the opening round, said. “And that’s what I did today.
“I went on court with the right intensity. I don’t know how many mistakes I made, but not many. I also had control, more or less, of a high percentage of the points. That was the way that I want to play.”
The Spaniard can reclaim the world number one ranking from Roger Federer if he wins a record-extending eighth title in Rome this week.
Thiem, who finished runner-up in Madrid on Sunday, struggled to find his rhythm in a 6-4 1-6 6-3 defeat by Fabio Fognini.
World number 21 Fognini, backed by a partisan Italian crowd, frustrated Thiem with well-placed lobs and touch volleys and went on to record his first win over the Austrian in three meetings.
Novak Djokovic, a four-time winner in Rome, powered into the third round with a convincing 6-4 6-2 win over Georgian Nikoloz Basilashvili.
The Serb will have opportunity to reach his first quarter-final of the season on Thursday, when he faces Spain’s Albert Ramos-Vinolas.
Japan’s Kei Nishikori denied Grigor Dimitrov a 27th birthday win to progress to the third round, rallying back from a set down to beat the world number four 6-7(4) 7-5 6-4. (Reporting by Hardik Vyas in Bengaluru, editing by Pritha Sarkar) | ashraq/financial-news-articles | https://uk.reuters.com/article/tennis-rome-men/tennis-nadal-cruises-into-italian-open-third-round-thiem-exit-idUKL3N1SN5DV |
TAMPA, Fla., Kforce Inc. (Nasdaq:KFRC), a provider of professional staffing services and solutions, today announced results for its first quarter of 2018. Revenues for the 2018 were $346.3 million compared to $334.0 million for the 2017, an increase of 3.7%. Net income for the 2018 was $9.2 million, or $0.37 per share, as compared to $5.9 million, or $0.23 per share, for the 2017.
David L. Dunkel, Chairman and CEO, commented, “We are very pleased with our first quarter results as our year-over-year growth rates in our largest business, Tech Flex, meaningfully accelerated to 6.7% from 5.4% in the fourth quarter of 2017. As we head into Q2 2018, we are experiencing continued strength in our Tech Flex business as companies continue to invest in technology to more effectively and efficiently meet the needs of their customers. Clients are continuing to look to a flexible human capital model to meet this demand, particularly given the project-based nature of technology. We continue to have success in improving our operating leverage as operating margins increased 80 basis points year-over-year. In addition, our guidance for the second quarter indicates our expectation of attaining our operating margin target of 6.3% when quarterly revenues reach $350 million. As stated previously, we expect to make continued incremental improvements in meeting our next milestone of 7.5% in a quarter, without seasonality impacts, where revenues reach $400 million. I want to thank all of our clients, consultants and core employees for making our mutual success possible."
Joseph J. Liberatore, President, said, “We experienced solid acceleration in key activity levels within Tech Flex in the first quarter primarily as a result of the actions taken over the last couple of years to optimize the alignment of our revenue-generating associates, enhance the segmentation of our client portfolio and improve the productivity of our associates. The growth we are experiencing in Tech Flex is broad-based and we expect to further accelerate revenue growth and improve associate productivity."
Mr. Liberatore noted additional operational quarter include:
Flex revenues of $332.8 million in Q1 2018 increased 4.2%, from $319.3 million in Q1 2017.
Quarterly year-over-year growth in Flex revenues for Tech and GS was 6.7% and 24.5%, respectively, while FA experienced a decrease of 7.9%.
David M. Kelly, Chief Financial Officer, said, “Our Flex gross profit margins in Tech and FA improved 30 basis points on a year-over-year basis in the first quarter, which we believe is reflective of our focus, discipline and enhanced training around pricing as well as changes in the mix of our business. We also continue to demonstrate solid progress in improving operating margins through leverage gained from our revenue growth and improving productivity as well as appropriately controlling our SG&A expenses."
Mr. Kelly continued, "During the first quarter, we repurchased 318 thousand shares, or approximately $8.7 million. We are also pleased to announce that our Board of Directors declared a second quarter cash dividend on Kforce common stock of $0.12 per share. The cash dividend will be payable on June 22, 2018 to shareholders of record as of the close of business on June 8, 2018.”
Looking forward to the second quarter of 2018, there will be 64 billing days, which is the same as the second quarter of 2017 and first quarter of 2018. Current estimates for the second quarter of 2018 are:
Revenue of $355 million to $360 million Earnings per share of $0.62 to $0.65 Gross profit margin of 30.0% to 30.2% Flex gross profit margin of 27.0% to 27.2% SG&A expense as a percent of revenue of 23.0% to 23.2% Operating margin of 6.3% to 6.5% Effective tax rate of 26.0%
On Tuesday, May 1, 2018, Kforce will host a conference call to discuss these results. The call will begin at 5:00 p.m. Eastern Time. The prepared remarks for this call are available on the Investor Relations page of the Kforce Inc. website ( http://investor.kforce.com/ ) under Events & Presentations.
The dial-in number is (877) 344-3890. The conference passcode is Kforce. The replay of the call will be available from 8:00 p.m. Eastern Time, Tuesday, May 1, 2018 through May 8, 2018 by dialing (855) 859-2056, passcode 8858829.
This call is being webcast by Shareholder.com and can be accessed on the Investor Relations page of the Kforce Inc. website ( http://investor.kforce.com/ ). The webcast replay will be available until May 8, 2018.
About Kforce
Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing temporary and permanent staffing solutions in the skill areas of technology and finance and accounting. Backed by nearly 2,600 associates and 11,500 consultants on assignment, Kforce is committed to “Great People = Great Results” for our valued clients and consultants. Kforce operates with 59 offices located throughout the United States. For more information, please visit our Web site at http://www.kforce.com .
Certain of the above statements contained in this press release, including earnings projections, are that involve a number of risks and uncertainties. Such are that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Factors that could cause actual results to differ materially include the following: business conditions, growth in temporary staffing and the general economy; competitive factors, risks due to shifts in the market demand; a reduction in the supply of candidates or the Firm's ability to attract such candidates; the success of the Firm in attracting and retaining revenue-generating talent; changes in the service mix; ability of the Firm to repurchase shares; the occurrence of unanticipated expenses; the effect of adverse weather conditions; changes in our effective tax rate; changes in government regulations, laws and policies that are adverse to our businesses; risk of contract performance, delays or termination or the failure to obtain awards, task orders or funding under contracts; changes in client demand and our ability to adapt to such changes; and the risk factors listed from time to time in the Firm’s reports filed with the Securities and Exchange Commission, including the Firm’s Form 10-K for the fiscal year ending December 31, 2017, as well as assumptions regarding the foregoing. In particular, the Firm makes no assurances that the estimates of continuing operations will be achieved or that we will continue to increase our market share, successfully manage risks to our revenue stream, successfully put into place the people and processes that will create future success or further accelerate our revenue. The terms “should,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan” and similar expressions and variations thereof contained in this press release identify certain of such , which speak only as of the date of this press release. As a result, such are not guarantees of future performance and involve risks and uncertainties. Future events and actual results may indicated in the . Readers are cautioned not to place undue reliance on these and the Firm undertakes no obligation to update any .
Kforce Inc.
Summary of Operations
(In Thousands, Except Per Share Amounts)
(Unaudited) Three Months Ended Mar. 31, 2018 Dec. 31, 2017 Mar. 31, 2017 Revenue by segment: Technology $ 236,497 $ 227,816 $ 222,045 Finance and accounting 80,944 85,349 87,295 Government solutions 28,852 29,421 24,652 Total Revenue 346,293 342,586 333,992 Direct costs 246,105 239,959 236,857 Gross profit 100,188 102,627 97,135 GP % 28.9 % 30.0 % 29.1 % Flex GP % (1) 26.3 % 27.3 % 26.2 % Selling, general and administrative expenses 84,592 82,067 84,678 Depreciation and amortization 2,008 2,042 2,050 Income from operations 13,588 18,518 10,407 Other expense, net 1,339 629 1,185 Income before income taxes 12,249 17,889 9,222 Income tax expense 3,074 11,749 3,320 Net income $ 9,175 $ 6,140 $ 5,902 Earnings per share - diluted $ 0.37 $ 0.24 $ 0.23 Weighted average shares outstanding - diluted 25,094 25,462 25,509 Adjusted EBITDA $ 17,921 $ 23,183 $ 14,562 Billing days 64 61 64 (1) Beginning in Q1 2018, Flex GP% exclude GS Product revenues and direct costs; prior quarters have been adjusted to align with this presentation.
Kforce Inc.
Consolidated Balance Sheets
(In Thousands)
(Unaudited) March 31, 2018 December 31, 2017 ASSETS Current assets: Cash and cash equivalents $ 257 $ 379 Trade receivables, net of allowances 237,847 225,865 Income tax refund receivable 774 7,116 Prepaid expenses and other current assets 11,994 12,085 Total current assets 250,872 245,445 Fixed assets, net 38,848 39,680 Other assets, net 39,265 38,598 Deferred tax assets, net 11,100 11,316 Intangible assets, net 3,211 3,297 Goodwill 45,968 45,968 Total assets $ 389,264 $ 384,304 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and other accrued liabilities $ 32,023 $ 34,873 Accrued payroll costs 44,645 46,886 Other current liabilities 1,796 1,960 Income taxes payable 3,388 — Total current liabilities 81,852 83,719 Long-term debt – credit facility 123,200 116,523 Long-term debt – other 2,198 2,597 Other long-term liabilities 47,520 47,188 Total liabilities 254,770 250,027 Commitments and contingencies Stockholders’ equity: Preferred stock — — Common stock 716 715 Additional paid-in capital 439,937 437,394 Accumulated other comprehensive income 617 100 Retained earnings 200,999 195,143 Treasury stock, at cost (507,775 ) (499,075 ) Total stockholders’ equity 134,494 134,277 Total liabilities and stockholders’ equity $ 389,264 $ 384,304
Kforce Inc.
Key Statistics
(Unaudited) Q1 2018 Q4 2017 Q1 2017 Total Firm Total Revenue (000’s) $ 346,293 $ 342,586 $ 333,992 GP % 28.9 % 30.0 % 29.1 % Flex revenue (000’s) (1) $ 332,817 $ 328,526 $ 319,332 Flex GP % (1) 26.3 % 27.3 % 26.2 % Direct Hire revenue (000’s) $ 11,395 $ 10,170 $ 11,505 Placements 853 816 823 Average fee $ 13,362 $ 12,469 $ 13,981 Product revenue (000's) $ 2,081 $ 3,890 $ 3,155 Billing days 64 61 64 Technology Flex revenue (000’s) $ 231,496 $ 223,897 $ 216,886 Hours (000’s) 3,178 3,101 3,245 Flex GP % 26.1 % 27.2 % 25.8 % Direct Hire revenue (000’s) $ 5,001 $ 3,919 $ 5,159 Placements 278 225 294 Average fee $ 18,021 $ 17,423 $ 17,537 Finance and Accounting Flex revenue (000’s) $ 74,550 $ 79,098 $ 80,949 Hours (000’s) 2,196 2,382 2,468 Flex GP % 27.9 % 28.5 % 27.6 % Direct Hire revenue (000’s) $ 6,394 $ 6,251 $ 6,346 Placements 575 591 529 Average fee $ 11,115 $ 10,583 $ 12,002 Government Solutions Total Revenue (000's) $ 28,852 $ 29,421 $ 24,652 GP % 26.6 % 30.3 % 29.9 % Flex revenue (000’s) (1) $ 26,771 $ 25,531 $ 21,497 Flex GP% (1) 24.5 % 24.7 % 25.0 % Product revenue (000's) $ 2,081 $ 3,890 $ 3,155 Product GP % 54.3 % 67.2 % 63.4 % (1) Beginning in Q1 2018, Flex revenue and Flex GP% exclude GS Product revenues and direct costs; prior quarters have been adjusted to align with this presentation.
Kforce Inc.
Revenue Growth Rates
(Per Billing Day)
(Unaudited) Year-Over-Year Revenue Growth Rates (Per Billing Day) Q1 2018 Q4 2017 Q3 2017 Q2 2017 Q1 2017 Billing days 64 61 63 64 64 Tech Flex 6.7 % 5.4 % 3.3 % 1.5 % 2.7 % FA Flex (7.9 )% 0.3 % 4.1 % 4.3 % 7.5 % GS Flex (1) 24.5 % 27.9 % 12.7 % 1.2 % 8.2 % Total Flex (1) 4.2 % 5.5 % 4.2 % 2.2 % 4.2 % Total Firm 3.7 % 5.1 % 3.0 % 1.6 % 3.7 % (1) Beginning in Q1 2018, Flex revenue excludes GS Product revenues; prior quarters have been adjusted to align with this presentation. Kforce Inc.
Non-GAAP Financial Measures
(In Thousands, Except Per Share Amounts)
(Unaudited)
The following non-GAAP financial measures presented may not provide information that is directly comparable to that provided by other companies, as other companies may calculate such financial results differently. The Company’s non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company views these non-GAAP financial measures as supplemental and they are not intended to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided below.
Free Cash Flow
“Free Cash Flow”, a non-GAAP financial measure, is defined by Kforce as net cash provided by operating activities determined in accordance with GAAP, less capital expenditures. Management believes this provides an additional way of viewing our liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows and is useful information to investors as it provides a measure of the amount of cash generated from the business that can be used for strategic opportunities including investing in our business, making acquisitions, repurchasing common stock or paying dividends. Free Cash Flow has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. Therefore, we believe it is important to view Free Cash Flow as a complement to our financial statements.
Three Months Ended March 31, 2018 2017 Net income $ 9,175 $ 5,902 Non-cash provisions and other 5,445 6,932 Changes in operating assets/liabilities (4,370 ) (23,347 ) Net cash provided by (used in) operating activities 10,250 (10,513 ) Capital expenditures (1,469 ) (2,272 ) Free cash flow 8,781 (12,785 ) Change in debt 6,677 20,419 Repurchases of common stock (12,038 ) (2,887 ) Cash dividend (2,973 ) (3,037 ) Other (569 ) (454 ) Change in cash and cash equivalents $ (122 ) $ 1,256 Adjusted EBITDA
“Adjusted EBITDA”, a non-GAAP financial measure, is defined by Kforce as net income before depreciation and amortization, stock-based compensation expense, interest expense, net and income tax expense. Adjusted EBITDA should not be considered a measure of financial performance under GAAP. Items excluded from Adjusted EBITDA are significant components in understanding and assessing our past and future financial performance, and this presentation should not be construed as an inference by us that our future results will be unaffected by those items excluded from Adjusted EBITDA. Adjusted EBITDA is a key measure used by management to assess our operations including our ability to generate cash flows and our ability to repay our debt obligations. Management believes it is useful information to investors as it provides a good metric of our core profitability in comparing our performance to our competitors, as well as our performance over different time periods. The measure should not be considered in isolation or as an alternative to net income, cash flows or other financial statement information presented in the consolidated financial statements as indicators of financial performance or liquidity. The measure is not determined in accordance with GAAP and is susceptible to varying calculations, and as presented, may not be comparable to similarly titled measures of other companies.
Three Months Ended, Mar. 31, 2018 Dec. 31, 2017 Mar. 31, 2017 Net income $ 9,175 $ 6,140 $ 5,902 Depreciation and amortization 2,115 2,135 2,103 Stock-based compensation expense 2,260 1,933 2,064 Interest expense, net 1,297 1,226 1,173 Income tax expense 3,074 11,749 3,320 Adjusted EBITDA $ 17,921 $ 23,183 $ 14,562 AT THE FIRM
Michael R. Blackman
Chief Corporate Development Officer
(813) 552-2927
Source:Kforce, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/01/globe-newswire-kforce-reports-first-quarter-2018-revenues-of-346-point-3-millionanet-income-of-9-point-2-million-or-0-point-37-per.html |
PARIS (Reuters) - Seventeen months after being attacked in her home by a knife-wielding intruder, Petra Kvitova has come to accept that she may always have that “weird feeling” whenever she is out alone and that her left playing hand will never fully recover.
FILE PHOTO: Tennis - WTA Mandatory - Madrid Open - Madrid, Spain - May 12, 2018 Czech Republic's Petra Kvitova celebrates with a trophy after winning the final against Netherlands' Kiki Bertens REUTERS/Paul Hanna/File Photo But rather than dwelling on the episode, which her surgeon feared would end her career after she was left with damaged tendons and nerves in her fingers and thumb, the 28-year-old Czech has adopted a positive attitude and has already won four trophies in 2018.
That tally, which includes back-to-back claycourt titles in Prague and Madrid in the run-up to the French Open, is more than any other woman on the WTA Tour this season and has also lifted her to eighth in the world - her highest ranking since May 2016.
Given it was only a year ago that she made her comeback from the December 2016 attack, Kvitova is having to pinch herself to believe how well things have gone.
“It’s crazy! It’s happening but I still find it unbelievable. It’s totally unexpected for me so far,” Kvitova, who will face Paraguay’s Veronica Cepede Royg in the first round, told Reuters in an interview.
“I’m feeling great and I am enjoying playing every moment because I couldn’t imagine myself playing as well as I am now. That’s important for me.”
That the twice Wimbledon champion wants to savor every moment on court is understandable. For several months she had no idea if she would ever again feel the adrenaline rush that comes with winning tournaments.
“I really didn’t know how the hand would react to playing tennis and even if I could hold the racket,” said Kvitova.
“I was just working hard, being patient and being positive about it. I really didn’t know how everything would turn out.
“The hand will never be 100 percent again. The last part of the fingers, I can’t move them in ... I can’t do a fist pump but, the last 12 months have been great and I am not complaining at all.”
Czech media reported on Thursday that a 54-year-old man had been detained in connection with the attack.
LOST YEAR Kvitova’s idol Martina Navratilova was full of praise for the way the Czech has overcome the difficulties of playing without having her hand back at 100 percent.
“I can’t imagine being in Petra’s position and playing without full feeling in my racket hand,” Navratilova told the WTA.
“It must be like gripping a racket while wearing a glove or trying to ski when you have frozen feet and can’t feel the snow at all.”
Now that Kvitova is back to a level where she is once again among the favorites to win a Grand Slam title, how much of her career does she think the attack cost her?
“I obviously lost the five months I couldn’t play tennis and then it took me a while to be ready and play again on the level I wished,” she said.
“Maybe I lost a year of my career ... for sure it took something out but maybe this situation gave me something positive.”
Kvitova has admitted to having a “weird feeling” if she is going somewhere alone and feels “happier and secure” if someone is with her when she is out and about.
However Kvitova, who reached a career high of number two in the world in 2011, says she is now less driven by numbers and goals and is delighted just to have got back to where she is in the game.
“It is something I would like to achieve in my career but it won’t be end of the world if I don’t,” she said when asked if becoming world number one was on her wish list.
“I don’t have any main goals any more.
“Being in the position I now find myself in is just amazing. I couldn’t have imagined this a year ago. It’s great,” added Kvitova, who was beaten in the second round at Roland Garros last year.
“I am enjoying playing on clay right now so it’s great. I’m hopefully going to play more than one match in Paris.”
Editing by Peter Rutherford
| ashraq/financial-news-articles | https://www.reuters.com/article/us-tennis-frenchopen-kvitova/tennis-kvitova-hails-crazy-year-following-knife-attack-idUSKCN1IS00P |
May 15 (Reuters) - New Age Beverages Corp:
* NEW AGE BEVERAGES CORP - QTRLY GROSS REVENUES REACHED $12.8 MILLION VERSUS $11.4 MILLION IN THE PRIOR YEAR, AN INCREASE OF 11.6% Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-new-age-beverages-reports-qtrly-gr/brief-new-age-beverages-reports-qtrly-gross-revenues-of-12-8-mln-up-11-6-pct-idUSFWN1SM1DO |
By Robert Hackett 9:00 AM EDT
When the news emerged that Equifax had succumbed to a colossal data breach from mid-May through July of last year, consumers were livid—in part because the ransacking was entirely preventable . Hackers stole 148 million people’s names, Social Security numbers, birthdates, home addresses, and more sensitive information, as of the major credit bureau’s last count in March , and worse yet, it happened two months after software fixes for the vulnerabilities at fault had been made available.
In the year since, thousands of companies have continued to introduce the same security holes into their computer networks. As many as 10,801 organizations—including 57% of the Fortune Global 100 —have downloaded known-to-be-vulnerable versions of Apache Struts, the popular, open source software package that attackers targeted to loot Equifax, from March 2017 through February 2018, according to data from Sonatype, a Goldman Sachs-backed cybersecurity startup that tracks code pulled by software developers.
The Apache Software Foundation released patched versions of the software employed by Equifax on March 7, 2017 as well as six other subsequent times throughout the year. But despite the availability of repaired code, businesses continue to download broken copies of Struts—a pervasive, app-building framework that helps power the transactional backends of many businesses—that are potentially susceptible to remote code execution, enabling an attacker to hijack a computer system from afar.
Sonatype did not identify specific companies that had downloaded flawed software. But of that set of 10,801 Struts-embrittled organizations, seven of the businesses were Fortune Global 100 tech companies, eight were Fortune Global 100 automakers, and 15 were Fortune Global 100 financial services or insurance firms, Sonatype researchers told Fortune . A catastrophic hack didn’t change habits
Troublingly, the fallout from Equifax has not seemed to dissuade corporations from pulling unsafe code into their networks. As many as 8,780 organizations have continued to download known, vulnerable versions of the Struts software since Equifax’s breach disclosure on September 7, 2017, per Sonatype’s data. In other words, only about 1 in 5 businesses learned from Equifax’s debacle and stopped downloading faulty components once the heist of the credit bureau became publicly known.
The extent to which the corporate world has disregarded Equifax’s breach is startling. As many as 3,049 organizations have downloaded the exact same vulnerabilities that hackers exploited to break into Equifax—that is, the same holes contained in Struts versions 2.2.3 to 2.2.3.31 and 2.5 to 2.5.10, referenced in the U.S. government’s national vulnerability database under CVE-2017-5638 , for the technically savvy—since the credit bureau’s breach disclosure, Sonatype researchers said.
To use an analogy, this is like completely ignoring an airbag recall and hoping not to get paralyzed in a collision—except worse because, in this scenario, malicious entities are actively trying to total other vehicles, including, potentially, yours.
“Downloading vulnerable versions of Struts is a symptom of a broader hygiene issue,” says Wayne Jackson, Sonatype’s CEO. “The problem is that these organizations don’t care enough to exert control, or don’t have infrastructure in place to know what’s being used.”
Sonatype was able to collect the data it shared with Fortune , Jackson explains, because it maintains a code repository, Maven Central , relied upon by many software developers as they build applications. When requests for code components come in, Sonatype is able to conduct reverse lookups on the requesters’ IP addresses, and thereby determine from which organizations they originated.
The failure to patch outdated software goes extends far beyond Struts. “We’ve probably got 10 million components that have defect associations,” Jackson says, referring to the output of other open source programming projects. “It’s not a problem that’s unique to Struts.” But Struts, he adds, is “a household name that should have gotten enough attention for people to change their behaviors.”
“Just because you create patches doesn’t mean customers will apply them,” says Joshua Corman, chief security officer at PTC, a Boston-based software shop, and cofounder of I Am the Cavalry , a grassroots organization focused on cybersecurity advocacy. “It takes a long time to fix this stuff at scale, but I’m worried they’re not trying rather than just being slow.” Why companies don’t patch
Updating Struts tends to present a greater challenge for companies than applying other software fixes, such as simple Microsoft Windows updates. Because Struts libraries are often bundled with disparate web applications, fixing the issue requires, among other things: knowing which applications use these components; updating so-called build scripts so they fetch the latest versions of the software; rebuilding the applications; and running quality assurance tests to make sure the mended applications work as intended.
It’s not nearly as straightforward as download and reboot. And yet the problem demands swift remediation.
“You can’t sit around and say, well, it takes six months so we’re doing the best we can,” says Corman, who formerly served as chief technology officer of Sonatype until he left in March 2016. “The mean time to exploit is days.”
To be sure, it is possible that developers—and their automated, code-pulling software development scripts—are downloading faulty versions of Struts, yet not using them in any final product. It’s also possible that programmers are fixing the code themselves before deploying applications. It’s even possible that some organizations are relying on other security tools, like web application firewalls, to filter out possible attacks aimed at the flawed software.
Occam’s Razor suggests, however, that most organizations are simply failing to adhere to the most basic tenets of IT hygiene: Patch—promptly.
“I would expect, especially given the rage around Equifax, people would be finding ways to increase response time to remediate bugs in projects they rely upon,” Corman says.
Given Sonatype’s findings, apparently that’s not the case. SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/07/security-equifax-vulnerability-download/ |
Check out the companies making headlines before the bell:
Merck – The drugmaker beat estimates by 5 cents a share, with adjusted first-quarter profit of $1.05 per share . Revenue was very slightly below forecasts. Merck's results were powered by strong growth in sales of its cancer drug Keytruda, an it also raised its earnings forecast for the year.
Pfizer – Pfizer reported adjusted quarterly profit of 77 cents per share , beating estimates by 3 cents a share. Revenue was slightly below forecasts, but Pfizer's bottom line benefited from stronger sales of breast cancer drug Ibrance.
Apple – DA Davidson initiated coverage on Apple with a "buy" rating, saying although the company faces challenges, its huge free cash flow allows it both to return increasing amounts of money to shareholders and make strategic acquisitions.
Under Armour – The athletic apparel maker reported a break-even quarter on an adjusted basis, compared to analyst forecasts of a 5 cents per share loss. Revenue beat forecasts, helped by stronger international sales.
Archer-Daniels Midland – The grain processor beat estimates by 18 cents a share, with adjusted quarterly profit of 68 cents per share. Revenue also topped forecasts. The company said market conditions have improved for many of its businesses, and that it is even more confident about 2018 full year performance.
Regeneron Pharmaceuticals , Sanofi – The drug companies announced they would cut the price of the cholesterol drug Praluent for Express Scripts customers, in exchange for greater patient access.
Facebook – Wedbush added Facebook to its "Best Ideas" list, saying the company would weather the controversy surrounding the Cambridge Analytica data breach.
WellCare Health Plans – The health insurer reported adjusted quarterly earnings of $2.47 per share, beating the consensus estimate of $2.02 a share. Revenue was essentially in line. WellCare raised its full-year forecast, based on strong performance across all its business lines.
Akamai Technologies – Akamai reported adjusted quarterly profit of 79 cents per share , 9 cents a share above estimates. Revenue also beat forecasts. The provider of internet content delivery technology saw its results boosted by its push into cloud security.
Texas Roadhouse – Texas Roadhouse matched forecasts with quarterly profit of 76 cents per share, with its revenue slightly above estimates. Comparable-restaurant sales were higher by 4.9 percent at company-owned restaurants and 3.9 percent at franchised locations.
Cognex – Cognex came in 4 cents a share above Street forecasts, with adjusted quarterly profit of 24 cents per share. The maker of machine vision technology saw revenue miss forecasts and it also gave weaker-than-expected full-year guidance.
Tenet Healthcare – Tenet reported an unexpected quarterly profit, with revenue also beating forecasts. The hospital operator also issued strong full-year guidance as it benefited from lower costs and a jump in patient visits.
BP – BP reported its highest quarterly profit in almost four years , helped by a rebound in oil and gas prices and increasing production.
KLX – Boeing will buy the aircraft parts maker for about $3.2 billion in cash, or $63 per share. KLX had said it would review strategic options in December, and The Wall Street Journal had reported last week that a deal was near.
Las Vegas Sands , Wynn Resorts – The casino operators are on watch as gambling revenue in the Chinese territory of Macau rose a better-than-expected 28 percent in April. Gaming revenue in Macau has now risen for 21 consecutive months.
Intel – The chipmaker will receive $380 million from the Israeli government to expand its manufacturing operations in that country, according to Israeli financial newspaper Calcalist.
Citrix Systems – Citrix was added to the "Conviction Buy" list at Goldman Sachs, which notes stronger pricing in the software company's CSS support services offering.
US Foods – US Foods was downgraded to "sector perform" from "outperform" at RBC Capital, which points to overall food distribution industry stagnation.
NutriSystem – NutriSystem earned 9 cents per share for its latest quarter, beating forecasts by 3 cents a share. The diet plan provider also saw revenue come in above estimates. NutriSystem also raised its full-year forecast.
Roku – KeyBanc rates the maker of streaming video devices a "buy" in new coverage , saying it provides a unique platform in the growing streaming video market. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/01/stocks-making-the-biggest-moves-premarket-mrk-pfe-aapl-uaa-fb-ba-more.html |
How a free game like 'Fortnite' makes $3.5 billion a year 1 Hour Ago This is how the free video game 'Fortnite' might make more than $3 billion annually. It all comes down to a frenzied player base that is eager to spend real money on virtual currencies that don't have any impact on actual gameplay. | ashraq/financial-news-articles | https://www.cnbc.com/video/2018/05/25/fortnite-video-game-battle-royale.html |
May 23 (Reuters) - Digital Ally Inc:
* DIGITAL ALLY INC FILES FOR OFFERING OF UP TO AGGREGATE OF 3.67 MILLION SHARES OF COMMON STOCK - SEC FILING Source text: ( bit.ly/2KPee2v ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-digital-ally-files-for-offering-of/brief-digital-ally-files-for-offering-of-up-to-aggregate-of-3-67-mln-shares-of-common-stock-idUSFWN1SU137 |
ROME (Reuters) - Italy’s 5-Star Movement and the far-right League have completed a joint policy program intended to be the basis for a coalition, with their respective leaders due to have the final word, party officials said on Wednesday.
5-Star chief Luigi Di Maio and his League counterpart Matteo Salvini were scheduled to meet later in the day to put the final touches to the deal after a week of work on the policy agenda.
“We have finished our work and sent everything to the leaders,” said the League’s economics chief Claudio Borghi, one of his party’s negotiating team. “It’s a good program but there are still one or two areas of difference for the leaders to decide on,” he added.
5-Star deputy Alfonso Bonafede also said the policy document was completed.
Reporting by Gavin Jones; Editing by Crispian Balmer
| ashraq/financial-news-articles | https://www.reuters.com/article/us-italy-politics-programme/italys-5-star-league-finish-policy-program-pass-to-leaders-idUSKCN1IH2EM |
ALGIERS, May 21 (Reuters) - Algeria has dropped a plan aimed at opening up farmland concessions to foreign investors for the first time, a government official told Reuters on Monday.
“The president of the republic intervened to cancel the plan,” he said. (Reporting by Hamid Ould Ahmed Editing by Ulf Laessing and Louise Heavens)
| ashraq/financial-news-articles | https://www.reuters.com/article/algeria-farming/algeria-cancels-plan-to-offer-farmland-to-foreign-investors-official-idUSL5N1SS3B3 |
May 14 (Reuters) - DHT Holdings Inc:
* BW GROUP LTD REPORTS 34.2 PERCENT STAKE IN DHT HOLDINGS INC AS OF MAY 10 - SEC FILING Source text: ( bit.ly/2Kmo7o5 ) Further company coverage:
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EditorsNote: adds “In the eighth inning,” at start of second graf
Eddie Rosario’s three-run double, coupled with Lance Lynn’s second consecutive quality start, enabled the Minnesota Twins to dump the Kansas City Royals 8-5 Monday night at Kauffman Stadium in Kansas City, Mo.
In the eighth inning, Rosario stroked an 0-2 changeup from reliever Burch Smith into short right-center field to score Robbie Grossman, Mitch Garver and Brian Dozier. Rosario barely beat Jorge Soler’s throw to second, and the Royals were slow to respond to Dozier rounding third.
Lynn (3-4), whose ERA was well over 7.00 after losing on May 16 to his old team, the St. Louis Cardinals, scattered six hits over six innings and allowed two runs Monday. He walked three and fanned five, limiting Kansas City to two hits in 13 at-bats with runners in scoring position.
Five relievers combined to record the last nine outs, with Fernando Rodney pitching the final 1 1/3 innings to earn his 11th save despite being tagged for Jorge Soler’s solo shot in the ninth, Soler’s seventh of the year.
Jakob Junis (5-4) ate the loss despite logging a quality start. Junis yielded six hits and three runs over six innings, walking four and whiffing seven.
Neither team scored for the first four innings, although both created plenty of chances. Lynn wormed out of a bases-loaded, one-out threat in the second, slipping a called third strike by Alcides Escobar before getting an infield out.
The Twins finally broke through in the fifth when Miguel Sano skied a two-run homer over leaping center fielder Jon Jay, Sano’s sixth of the year. But Mike Moustakas laced a game-tying two-run double in the bottom of the inning.
Dozier’s two-out RBI single in the sixth put Minnesota ahead to stay. Rosario’s eighth-inning hit appeared to put the game away, but the Royals rallied with two in their half of the inning on a throwing error and Whit Merrifield’s run-producing single.
Garver tacked on critical insurance for the Twins with a two-run double in the ninth.
Jay collected four hits, including three doubles, to lead Kansas City.
—Field Level Media
| ashraq/financial-news-articles | https://www.reuters.com/article/baseball-mlb-kc-min-recap/rosario-lynn-lead-twins-past-royals-8-5-idUSMTZEE5TGY4MPT |
SAN FRANCISCO, May 10, 2018 /PRNewswire/ -- Marin Software Incorporated (NYSE: MRIN), a leading provider of cross-channel, cross-device, enterprise marketing software for advertisers and agencies, today announced the first quarter .
"Our growth in cross-channel revenue during Q1 demonstrates the appeal for an open, independent approach to digital advertising," said Chris Lien, Chief Executive Officer of Marin Software. "Our new platform, which launches this summer, will help advertisers drive performance in a world where Google, Facebook and increasingly Amazon, dominate."
First Quarter 2018 Business and Product Release Highlights:
Onboarded first customers advertising on Amazon, including a multinational pharmaceutical corporation and a leading consumer electronics and technology company. Upgraded Marin Bidding to automatically calculate audience bid multipliers based on campaign performance, driving greater ad spend efficiency for advertisers. Developed a tool to automatically create a video slideshow ad from top-performing products, helping to drive increased engagement on social advertising. Expanded offerings for social travel advertisers by supporting trip consideration and broad audiences for Facebook's Dynamic Ads for Travel. Debuted customizable cross-channel dashboards, providing advertisers with access to all key search and social campaign metrics in a single view. Launched Unified Reporting, allowing advertisers to see all campaigns in a single grid across search and social publishers for better cross-channel alignment. Added support for Twitter Website Video Cards, providing advertisers another outlet for delivering engaging video content. Added support for Facebook offer ads where advertisers can create and track promotions. Marin's proprietary Offer Library makes it easier to launch and reuse offers at scale.
First Quarter 2018 Financial Updates:
Net revenues totaled $15.4 million, a year-over-year decrease of 24%, when compared to $20.3 million in the first quarter of 2017. GAAP loss from operations was ($9.1) million, resulting in a GAAP operating margin of (59%), compared to a GAAP loss from operations of ($6.0) million and a GAAP operating margin of (29%) for the first quarter of 2017. Non-GAAP loss from operations was ($6.0) million, resulting in a non-GAAP operating margin of (39%), as compared to a non-GAAP loss from operations of ($3.2) million and a non-GAAP operating margin of (16%) for the first quarter of 2017. Cash, cash equivalents and restricted cash totaled $23.3 million as of March 31, 2018, as compared to $28.8 million as of December 31, 2017. During January 2018, initiated an organizational restructuring plan designed to reduce operating expenses and better align the Company's efforts to return to growth. This restructuring plan is expected to result in annualized cost savings of $6.0 million to $7.0 million going forward. In connection, the Company incurred $0.9 million in restructuring related expenses during the first quarter of 2018, consisting primarily of employee severance costs.
Reconciliations of GAAP to non-GAAP financial measures have been provided in the financial statement tables included in this press release. An explanation of these measures is also included below, under the heading "Non-GAAP Financial Measures."
Financial Outlook:
Marin is providing guidance for its second quarter of 2018 as follows:
Forward-Looking Guidance
In millions
Range of Estimate
From
To
Three Months Ending June 30, 2018
Revenues, net
$
13.5
$
14.0
Non-GAAP loss from operations
(6.7)
(6.2)
Non-GAAP loss from operations excludes the effects of stock-based compensation, amortization of internally developed software, intangible assets and deferred costs to obtain and fulfill contracts, impairment of goodwill and long-lived assets, non-recurring costs associated with restructurings, capitalization of internally developed software and deferral of costs to obtain and fulfill contracts.
Additionally, the Company does not reconcile its forward-looking non-GAAP loss from operations, due to variability between revenues and non-cash items such as stock-based compensation. The GAAP loss from operations includes stock-based compensation expense, which is affected by hiring and retention needs, as well as the future price of Marin's stock. As a result, a reconciliation of the forward-looking non-GAAP financial measures to the corresponding GAAP measures cannot be made without unreasonable effort.
Quarterly Results Conference Call
Marin Software will host a conference call today at 2:00 PM Pacific Time (5:00 PM Eastern Time) to review the Company's the quarter , and its outlook for the future. To access the call, please dial (877) 705-6003 in the United States or (201) 493-6725 internationally with reference to the company name and conference title. A live webcast of the conference call will be accessible at http://public.viavid.com/index.php?id=129324 . Following the completion of the call through 11:59 PM Eastern Time on May 17, 2018, a recorded replay will be available for replay on the Company's website at: http://investor.marinsoftware.com/ and a telephone replay will be available by dialing (844) 512-2921 in the United States or (412) 317-6671 internationally with the recording access code 13678855.
About Marin Software
Marin Software Incorporated's (NYSE: MRIN) mission is to give advertisers the power to drive higher efficiency, effectiveness, and transparency in their paid marketing programs that run on the world's largest publishers. Marin provides industry leading enterprise marketing software for advertisers and agencies to measure, manage, and optimize billions of dollars in annualized ad spend across the web and mobile devices. Offering a SaaS advertising management platform for search, social, and display advertising, Marin helps digital marketers improve financial performance, save time, and make better decisions. Advertisers use Marin to create, target, and convert precise audiences based on recent buying signals from users' search, social, and display interactions. Headquartered in San Francisco, with offices in eight countries, Marin's technology powers marketing campaigns around the globe. For more information about Marin Software, please visit: http://www.marinsoftware.com .
Non-GAAP Financial Measures
Marin uses certain non-GAAP financial measures in this release. Marin uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance. Marin believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures that Marin uses may differ from measures that other companies may use.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
Non-GAAP expenses, measures and net loss per share. Marin defines non-GAAP sales and marketing, non-GAAP research and development, non-GAAP general and administrative, non-GAAP gross profit, non-GAAP operating loss and non-GAAP net loss as the respective GAAP balances, adjusted for stock-based compensation, amortization of internally developed software, intangible assets and deferred costs to obtain and fulfill contracts, impairment of goodwill and long-lived assets, non-cash expenses related to debt agreements, non-recurring costs associated with restructurings, capitalization of internally developed software and deferral of costs to obtain and fulfill contracts. Non-GAAP net loss per share is calculated as non-GAAP net loss divided by the weighted average shares outstanding.
Adjusted EBITDA. Marin defines Adjusted EBITDA as net loss, adjusted for stock-based compensation expense, depreciation, amortization of internally developed software, intangible assets and deferred costs to obtain and fulfill contracts, capitalization of internally developed software, deferral of costs to obtain and fulfill contracts, impairment of goodwill and long-lived assets, provision for income taxes, other income or expenses, net and non-recurring costs associated with restructurings. These amounts are often excluded by other companies to help investors understand the operational performance of their business. The Company uses Adjusted EBITDA as a measurement of its operating performance because it assists in comparing the operating performance on a consistent basis by removing the impact of certain non-cash and non-operating items. Adjusted EBITDA reflects an additional way of viewing aspects of the operations that Marin believes, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting its business.
Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Marin's business, expectations about our ability to return to growth, impact of investments in product and technology on future operating results, progress on product development efforts, product capabilities and future financial results, including its outlook for the second quarter of 2018. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to our ability to grow sales to new and existing customers; our ability to expand our sales and marketing capabilities; our ability to retain and attract qualified management and technical personnel; delays in the release of updates to our product platform or new features; competitive factors, including but not limited to pricing pressures, entry of new competitors and new applications; quarterly fluctuations in our operating results due to a number of factors; inability to adequately forecast our future revenues, expenses, Adjusted EBITDA, cash flows or other financial metrics; delays, reductions or slower growth in the amount spent on online and mobile advertising and the development of the market for cloud-based software; progress in our efforts to update our software platform; adverse changes in our relationships with and access to publishers and advertising agencies; level of usage and advertising spend managed on our platform; our ability to expand sales of our solutions in channels other than search advertising; any slow-down in the search advertising market generally; shift in customer digital advertising budgets from search to segments in which we are not as deeply penetrated; the development of the market for digital advertising; acceptance and continued usage of our platform and services by customers and our ability to provide high-quality technical support to our customers; material defects in our platform including those resulting from any updates we introduce to our platform, service interruptions at our single third-party data center or breaches in our security measures; our ability to develop enhancements to our platform; our ability to protect our intellectual property; our ability to manage risks associated with international operations; the impact of fluctuations in currency exchange rates, particularly an increase in the value of the dollar; near term changes in sales of our software services or spend under management may not be immediately reflected in our results due to our subscription business model; adverse changes in general economic or market conditions; and the ability to acquire and integrate other businesses. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including our most recent report on Form 10-K, recent reports on Form 10-Q and current reports on Form 8-K which we may file from time to time, all of which are available free of charge at the SEC's website at www.sec.gov . Any of these risks could cause actual results to differ materially from expectations set forth in the forward-looking statements. All forward-looking statements in this press release reflect Marin's expectations as of May 10, 2018. Marin assumes no obligation to, and expressly disclaims any obligation to update any such forward-looking statements after the date of this release.
Marin Software Inc.
Condensed Consolidated Balance Sheets
(On a GAAP basis)
March 31,
December 31,
(Unaudited; in thousands, except par value)
2018
2017
Assets
Current assets
Cash and cash equivalents
$
21,983
$
27,544
Restricted cash
1,293
1,293
Accounts receivable, net
11,000
12,237
Prepaid expenses and other current assets
5,652
3,989
Total current assets
39,928
45,063
Property and equipment, net
14,579
15,559
Goodwill
16,816
16,768
Intangible assets, net
3,785
4,475
Other non-current assets
2,357
1,504
Total assets
$
77,465
$
83,369
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
$
2,762
$
2,826
Accrued expenses and other current liabilities
8,474
10,474
Capital lease obligations
1,438
1,416
Total current liabilities
12,674
14,716
Capital lease obligations, non-current
1,347
1,687
Other long-term liabilities
4,158
4,183
Total liabilities
18,179
20,586
Stockholders' equity
Common stock, $0.001 par value
6
6
Additional paid-in capital
292,099
291,163
Accumulated deficit
(232,581)
(227,704)
Accumulated other comprehensive loss
(238)
(682)
Total stockholders' equity
59,286
62,783
Total liabilities and stockholders' equity
$
77,465
$
83,369
Marin Software Inc.
Condensed Consolidated Statements of Operations
(On a GAAP basis)
Three Months Ended March 31,
(Unaudited; in thousands, except per share data)
2018
2017
Revenues, net
$
15,402
$
20,333
Cost of revenues
7,572
8,324
Gross profit
7,830
12,009
Operating expenses
Sales and marketing
7,381
6,676
Research and development
6,155
7,138
General and administrative
3,377
4,177
Total operating expenses
16,913
17,991
Loss from operations
(9,083)
(5,982)
Other income, net
295
262
Loss before provision for income taxes
(8,788)
(5,720)
Provision for income taxes
(324)
(406)
Net loss
$
(9,112)
$
(6,126)
Net loss per common share, basic and diluted
$
(1.59)
$
(1.10)
Weighted-average shares outstanding, basic and diluted
5,736
5,583
Marin Software Inc.
Condensed Consolidated Statements of Cash Flows
(On a GAAP basis)
Three Months Ended March 31,
(Unaudited; in thousands)
2018
2017
Operating activities
Net loss
$
(9,112)
$
(6,126)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation
798
1,336
Amortization of internally developed software
957
788
Amortization of intangible assets
690
730
Amortization of deferred costs to obtain and fulfill contracts
605
—
Unrealized foreign currency losses (gains)
24
(12)
Non-cash interest expense related to debt agreements
—
6
Stock-based compensation related to equity awards and restricted stock
1,028
1,842
(Recovery from) provision for bad debts
(214)
416
Changes in operating assets and liabilities
Accounts receivable
1,451
2,439
Prepaid expenses and other assets
(482)
(1,417)
Accounts payable
(48)
(49)
Accrued expenses and other current liabilities
(620)
(574)
Net cash used in operating activities
(4,923)
(621)
Investing activities
Purchases of property and equipment
(98)
(169)
Capitalization of internally developed software
(693)
(543)
Net cash used in investing activities
(791)
(712)
Financing activities
Repayments of capital lease obligations
(318)
(249)
Employee taxes paid for withheld shares upon equity award settlement
(26)
(156)
Proceeds from employee stock purchase plan, net
78
136
Net cash used in financing activities
(266)
(269)
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash
419
181
Net decrease in cash and cash equivalents and restricted cash
(5,561)
(1,421)
Cash and cash equivalents and restricted cash
Beginning of period
28,837
35,713
End of period
$
23,276
$
34,292
Marin Software Inc.
Reconciliation of GAAP to Non-GAAP Expenses
Three Months Ended
Year Ended
Three Months Ended
March 31,
June 30,
September 30,
December 31,
December 31,
March 31,
(Unaudited; in thousands)
2017
2017
2017
2017
2017
2018
Sales and Marketing (GAAP)
$
6,676
$
6,710
$
6,630
$
6,920
$
26,936
$
7,381
Less Stock-based compensation
(212)
(200)
(197)
(218)
(827)
(240)
Less Amortization of intangible assets
(223)
(222)
(216)
(216)
(877)
(213)
Less Amortization of deferred costs to obtain contracts
—
—
—
—
—
(432)
Less Restructuring related expenses
—
—
—
—
—
(497)
Plus Deferral of costs to obtain contracts
—
—
—
—
—
257
Sales and Marketing (Non-GAAP)
$
6,241
$
6,288
$
6,217
$
6,486
$
25,232
$
6,256
Research and Development (GAAP)
$
7,138
$
6,646
$
6,672
$
6,108
$
26,564
$
6,155
Less Stock-based compensation
(996)
(318)
(326)
(356)
(1,996)
(339)
Less Amortization of intangible assets
(247)
(244)
(239)
(239)
(969)
(237)
Less Restructuring related expenses
—
—
—
—
—
(115)
Plus Capitalization of internally developed software
543
413
442
670
2,068
693
Research and Development (Non-GAAP)
$
6,438
$
6,497
$
6,549
$
6,183
$
25,667
$
6,157
General and Administrative (GAAP)
$
4,177
$
3,945
$
3,920
$
4,402
$
16,444
$
3,377
Less Stock-based compensation
(323)
(248)
(234)
(254)
(1,059)
(245)
Less Amortization of intangible assets
(13)
(10)
(5)
(5)
(33)
(3)
Less Restructuring related expenses
—
—
—
—
—
(111)
General and Administrative (Non-GAAP)
$
3,841
$
3,687
$
3,681
$
4,143
$
15,352
$
3,018
Marin Software Inc.
Reconciliation of GAAP to Non-GAAP Measures
Three Months Ended
Year Ended
Three Months Ended
March 31,
June 30,
September 30,
December 31,
December 31,
March 31,
(Unaudited; in thousands)
2017
2017
2017
2017
2017
2018
Gross Profit (GAAP)
$
12,009
$
10,535
$
9,968
$
9,959
$
42,471
$
7,830
Plus Stock-based compensation
311
152
166
193
822
204
Plus Amortization of internally developed software
788
867
1,016
998
3,669
957
Plus Amortization of intangible assets
247
245
240
239
971
237
Plus Amortization of deferred costs to fulfill contracts
—
—
—
—
—
173
Plus Restructuring related expenses
—
—
—
—
—
139
Less Deferral of costs to fulfill contracts
—
—
—
—
—
(115)
Gross Profit (Non-GAAP)
$
13,355
$
11,799
$
11,390
$
11,389
$
47,933
$
9,425
Operating Loss (GAAP)
$
(5,982)
$
(9,563)
$
(7,254)
$
(7,471)
$
(30,270)
$
(9,083)
Plus Impairment of goodwill
—
2,797
—
—
2,797
—
Plus Stock-based compensation
1,842
918
923
1,021
4,704
1,028
Plus Amortization of internally developed software
788
867
1,016
998
3,669
957
Plus Amortization of intangible assets
730
721
700
699
2,850
690
Plus Amortization of deferred costs to fulfill contracts
—
—
—
—
—
173
Plus Amortization of deferred costs to obtain contracts
—
—
—
—
—
432
Plus Restructuring related expenses
—
—
—
—
—
862
Less Capitalization of internally developed software
(543)
(413)
(442)
(670)
(2,068)
(693)
Less Deferral of costs to fulfill contracts
—
—
—
—
—
(115)
Less Deferral of costs to obtain contracts
—
—
—
—
—
(257)
Operating Loss (Non-GAAP)
$
(3,165)
$
(4,673)
$
(5,057)
$
(5,423)
$
(18,318)
$
(6,006)
Net Loss (GAAP)
$
(6,126)
$
(10,545)
$
(7,549)
$
(7,271)
$
(31,491)
$
(9,112)
Plus Impairment of goodwill
—
2,797
—
—
2,797
—
Plus Stock-based compensation
1,842
918
923
1,021
4,704
1,028
Plus Amortization of internally developed software
788
867
1,016
998
3,669
957
Plus Amortization of intangible assets
730
721
700
699
2,850
690
Plus Amortization of deferred costs to fulfill contracts
—
—
—
—
—
173
Plus Amortization of deferred costs to obtain contracts
—
—
—
—
—
432
Plus Non-cash expenses related to debt agreements
6
7
2
—
15
—
Plus Restructuring related expenses
—
—
—
—
—
862
Less Capitalization of internally developed software
(543)
(413)
(442)
(670)
(2,068)
(693)
Less Deferral of costs to fulfill contracts
—
—
—
—
—
(115)
Less Deferral of costs to obtain contracts
—
—
—
—
—
(257)
Net Loss (Non-GAAP)
$
(3,303)
$
(5,648)
$
(5,350)
$
(5,223)
$
(19,524)
$
(6,035)
Marin Software Inc.
Calculation of Non-GAAP Earnings Per Share
Three Months Ended
Year Ended
Three Months Ended
March 31,
June 30,
September 30,
December 31,
December 31,
March 31,
(Unaudited; in thousands, except per share data)
2017
2017
2017
2017
2017
2018
Net Loss (Non-GAAP)
$
(3,303)
$
(5,648)
$
(5,350)
$
(5,223)
$
(19,524)
$
(6,035)
Weighted-average shares outstanding, basic and diluted
5,583
5,640
5,651
5,677
5,638
5,736
Non-GAAP net loss per common share, basic and diluted
$
(0.59)
$
(1.00)
$
(0.95)
$
(0.92)
$
(3.46)
$
(1.05)
Marin Software Inc.
Reconciliation of Net Loss to Adjusted EBITDA
Three Months Ended
Year Ended
Three Months Ended
March 31,
June 30,
September 30,
December 31,
December 31,
March 31,
(Unaudited; in thousands)
2017
2017
2017
2017
2017
2018
Net Loss
$
(6,126)
$
(10,545)
$
(7,549)
$
(7,271)
$
(31,491)
$
(9,112)
Depreciation
1,336
1,263
1,149
1,010
4,758
798
Amortization of internally developed software
788
867
1,016
998
3,669
957
Amortization of intangible assets
730
721
700
699
2,850
690
Amortization of deferred costs to obtain and fulfill contracts
—
—
—
—
—
605
Provision for (benefit from) income taxes
406
419
151
31
1,007
324
Impairment of goodwill
—
2,797
—
—
2,797
—
Stock-based compensation
1,842
918
923
1,021
4,704
1,028
Capitalization of internally developed software
(543)
(413)
(442)
(670)
(2,068)
(693)
Deferral of costs to obtain and fulfill contracts
—
—
—
—
—
(372)
Restructuring related expenses
—
—
—
—
—
862
Other (income) expenses, net
(262)
563
144
(231)
214
(295)
Adjusted EBITDA
$
(1,829)
$
(3,410)
$
(3,908)
$
(4,413)
$
(13,560)
$
(5,208)
View original content with multimedia: http://www.prnewswire.com/news-releases/marin-software-announces-first-quarter-2018-financial-results-300646599.html
SOURCE Marin Software | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/10/pr-newswire-marin-software-announces-first-quarter-2018-financial-results.html |
May 4, 2018 / 8:15 PM / Updated 22 minutes ago 'Harry & Meghan' romance gets the Lifetime TV treatment Reuters Staff 3 Min Read
LOS ANGELES (Reuters) - As soon as Britain’s Prince Harry and American actress Meghan Markle announced their engagement last November, executives at U.S. cable television network Lifetime swung into gear. Britain's Prince Harry and his fiancee Meghan Markle attend the Dawn Service at Wellington Arch to commemorate Anzac Day in London, Britain, April 25, 2018. REUTERS/Toby Melville/Pool
In two weeks, the first scripts were written for “Harry & Meghan: A Royal Romance,” a dramatization of their courtship that will premiere on May 13 as the jewel in the crown of a week of Lifetime programming ahead of the May 19 royal wedding in England.
Starring Scottish actor Murray Fraser as Harry and American Parisa Fitz-Henley as Markle, the television film is based on known events in the couple’s almost two-year romance, including their appearances together, Markle’s public speeches and entries from her former lifestyle blog The Tig.
It also weaves in imagined scenes, including their first blind date, an argument, a sex scene, Harry’s proposal and events with key members of Britain’s royal family, including the late Princess Diana; Harry’s brother, Prince William; William’s wife; Kate Middleton, Prince Charles and Queen Elizabeth.
“There is so much drama in the real story we didn’t have to make a lot up,” said co-writer Terrence Coli.
Shot mostly in Toronto, where Markle was based while shooting the TV series “Suits,” the makers say the TV film is motivated by warmth and admiration for the couple. It follows a Lifetime biopic made for the 2011 wedding of William and Kate.
“One of the reasons that we love them so much is because they are a unifying force in a very divisive time,” said co-writer Scarlett Lacey.
Fraser, who had to drop his broad Scottish accent to play Harry, said he did not want to do a mere copycat of the tall, ginger-haired prince.
“I really wanted to see him as a human being who just happens to be a prince,” Fraser said.
Fitz-Henley said she saw Markle as “a really great example of confidence.”
Markle and Harry were not consulted in the making of the film, but the producers say the couple are aware of it and the producers hope they will see it.
“We admire them as a couple, so we hope they watch it and they think it is funny and sweet,” said Michele Weiss, one of the executive producers. Reporting by Jill Serjeant and Rollo Ross; Editing by Leslie Adler | ashraq/financial-news-articles | https://in.reuters.com/article/us-britain-royals-film/harry-meghan-romance-gets-the-lifetime-tv-treatment-idINKBN1I52GD |
Two pillars of Trump administration policy – combating the soaring prices for prescription drugs and equalizing the U.S. trade imbalance with China – appear to be on a collision course, drug and foreign policy experts say.
That's because the key ingredients for so many essential drugs, from antibiotics and birth control pills to treatments for cancer, depression, high cholesterol and HIV/AIDS, are purchased from China, says Rosemary Gibson, co-author with Janardan Prasad Singh of a new book called " ChinaRx: Exposing the Risks of America's Dependence on China for Medicine ."
China has exclusive manufacturing agreements for drugs for anesthesia, cancer and HIV/AIDS, along with other medicines that "we use every day, not only in hospitals but in our own medicine chests," Gibson says, adding that China is now the world's only source of antibiotics, including the main ingredient in vancomycin, a treatment of last resort that is used by patients who are suffering from infections that are resistant to other treatment.
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"It's a huge dramatic shift and nobody knows about it," Gibson says. "And they're just ramping up. It's all part of a plan that China laid out in its 2025 initiative to become the pharmacy to the world."
President Donald Trump had planned to deliver a long-anticipated speech on prescription drug prices as early as Tuesday, but news reports now suggest the administration will delay the address. It could not be determined whether the delay was prompted by the administration's discussions with Beijing over trade policy.
The United States ' trade deficit with China hit a record $375 billion last year, the Commerce Department reported. The U.S. has called for China to reduce the surplus by $200 billion and end state support for President Xi Jinping 's Made in China 2025 industrial policy.
If the Trump administration's import policies provoke a trade war with China, Beijing could retaliate by raising prices on or reducing supplies of components needed to make necessary drugs. Pressuring drug companies to find their supplies outside of China could also lead to higher prices, experts say.
"Imagine our being totally dependent on China, which could become our adversary, for all of our medicine including medicine for our military. It's lunacy," says Daniel Slane, a former member of the U.S.-China Economic and Security Review Commission, created by Congress two decades ago to report on the national security implications on the U.S. relationship to China.
The White House, the Food and Drug Administration and Pharma, the trade association that represents drug manufacturers, did not respond to U.S. News & World Report requests for comment.
Multinational drug companies, many of them headquartered in the United States, began buying ingredients for critical drugs in China after the U.S.-China Fair Trade Agreement passed nearly two decades ago. State-owned Chinese companies, buoyed by heavy government subsidies, set their prices so low that they were able to undercut established manufacturers in the U.S. and elsewhere, prompting them to shut down their plants and move their operations to China, the authors say.
"China offers (drug companies) incentives for transferring their production from here to there, and they're doing it," says Pat Mulloy, a trade lawyer and former assistant secretary of the Department of Commerce.
Gibson's and Singh's book offers examples of "companies pivoting east":
• Johnson & Johnson, based in New Brunswick, New Jersey, announced 4,800 job cuts in 2007 and 8,000 more in the U.S. and abroad two years later, the authors say, as it was preparing to open a new Shanghai-based research and development center in 2009. "We see this as a way to move from bringing great products to China to actually discovering and developing things in China," the company's CEO, Alex Gorsky, told the Wall Street Journal in 2015.
• Pfizer laid off more than 2,000 researchers, more than half of whom were at the firm's research laboratory in Groton, Connecticut. "One of the casualties of the 2011 layoffs was Groton's antibiotic research program, which was reportedly moving to Shanghai," the authors write in "China Rx," citing local news reports that described it as "the first wholesale move of a major U.S. pharmaceutical research unit to China."
Shifting production to China has made millions for the companies and their shareholders but hasn't trickled down to U.S. consumers, who are still paying more than consumers anywhere else in the world for their drugs. "The drug companies don't care about the United States," Slane says. "They only care about profits."
The safety of the U.S. drug supply is another concern, because the Food and Drug Administration lacks the funding and personnel to inspect Chinese factories, which may be forewarned of the inspectors' arrival. The most terrifying example involved a contaminated blood thinner, called Heparin, distributed by Baxter laboratories in 2008, which killed 81 people and sickened nearly 800 more.
The FDA identified Changzhou SPL, a Chinese subsidiary of Scientific Protein Laboratories, as the source of the contaminated drug.
Slane called the U.S. dependence on Chinese drugs a national security concern, noting that recent Chinese militarization doesn't inspire confidence.
"They're rapidly getting on parity with us in fighter jets, submarines and missiles," Slane said. "They have satellites that can take out our GPS systems. They have taken over islands in the East and South China seas that belong to Vietnam, the Philippines and Japan . They are militarizing the islands with missiles. Their intent is to push us out of the eastern Pacific."
"You don't have to be a military expert to see where all this is going," he says. "In light of all that, now we're dependent on (the Chinese) for our drugs? | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/09/chinas-lock-on-drugs-could-be-a-problem-for-trump--and-your-cold.html |
By Jen Wieczner May 7, 2018
Although Warren Buffett regrets not buying Google and Amazon stock, he isn’t making the same mistake with Apple .
After first investing in Apple in 2016, the iPhone maker is now the largest holding of Buffett’s Berkshire Hathaway , which owns a staggering 250 million Apple shares, Buffett said Saturday. That makes his Apple position worth about $46.3 billion at current prices.
But at the annual Berkshire Hathaway meeting in Omaha Saturday, Buffett faced questions about how he became so bullish on Apple (aapl) —after famously avoiding tech stocks for most of his investing lifetime.
“I didn’t go into Apple because it was a tech stock in the least,” Buffett explained at the Berkshire meeting. “I went into Apple because I came to certain conclusions about both the intelligence with the capital they deploy, but more important the value of their ecosystem and how permanent that ecosystem could be.”
Apple, whose stock hit a new record high Monday, has been a major winner for Berkshire Hathaway: Apple’s stock price has roughly doubled in the two years since Berkshire initially disclosed its stake.
Buffett is a big fan of so-called economic moats , or advantages that allow companies to retain their customers despite the competition—which for Apple is the iPhone, he said. “We’re betting on the success of Apple products like the iPhone, and I see characteristics in that that make me think it’s extraordinary,” Buffett said.
But there’s another reason Buffett loves Apple besides its tech gadgets: Apple’s massive cash hoard, which allows it to buy back a lot of its own stock.
After offering its first stock buyback in August 2012, Apple has bought back $200 billion worth of stock, and just announced last week that it would repurchase an additional $100 billion in its shares.
While stock buybacks are a controversial way for companies to spend cash that they could otherwise invest in growth or acquisitions, Buffett said that in Apple’s case it makes sense.
“I think it’s extremely hard to find acquisitions that would be accretive to Apple that would be in the $50 billion, or $100 billion or $200 billion range,” Buffett said. “I’m delighted to see them repurchasing shares.”
Apple’s buybacks also mean that Berkshire Hathaway, which owns roughly 5% of Apple’s outstanding shares, could end up owning a larger percentage chunk of the tech company in the future—simply because there will be fewer shares left after Apple buys them up.
“I love the idea of having our 5% grow to 6 or 7% without us laying out a dime,” Buffett said. “It’s worked for us in many other situations.”
Although investors enjoy speculating on which companies Apple should acquire , Buffett, ironically, is quite pessimistic about its M&A potential.
“As I look around the horizon, I don’t see anything that would make a lot of sense for them [to buy] in terms of what they’d have to pay and what they would get,” said Buffett, who is known for investing in low-priced stocks. “Whereas I do see a business that they know everything about, and where they may or may not be able to buy at an attractive price when they repurchase their shares.”
In other words, the business that looks most attractive for Apple to buy is Apple itself. “Like I say, [Apple CEO] Tim Cook can do simple math and he can probably do very complicated math too,” Buffett added. “So we very much approve of them repurchasing shares.” SPONSORED FINANCIAL CONTENT | ashraq/financial-news-articles | http://fortune.com/2018/05/07/warren-buffett-apple-stock-berkshire-hathaway/ |
A drop in mortgage interest rates did nothing to spur borrowers to action. Applications for to both refinance and to purchase a home fell for the week. | ashraq/financial-news-articles | https://www.cnbc.com/2018/05/29/mortgage-rates-drop-but-borrowers-are-not-impressed.html |
ANKARA, May 21 (Reuters) - U.S. Secretary of State Mike Pompeo’s remarks on Iran strategy showed that the United State was after regime change in the Islamic Republic, a senior Iranian official told Reuters on Monday.
“America wants to pressure Iran to surrender and accept their illegal demands ... his remarks showed that America is surely after regime change in Iran,” the official said in reaction to Pompeo’s remarks, in which he said the U.S. would impose the “strongest sanctions in history” against the Iranian leadership. (Writing by Parisa Hafezi; Editing by Toby Chopra)
| ashraq/financial-news-articles | https://www.reuters.com/article/iran-nuclear-usa/pompeos-remarks-shows-u-s-after-regime-change-in-iran-senior-iranian-official-idUSL5N1SS3UM |
ON MAY 5, the Gucci circus came to New York City. Neither popcorn nor elephants were on hand at 63 Wooster Street in Soho, but the opening of the grandiose Italian label’s latest store was feted with plenty of Champagne. That afternoon, as shoppers and gawkers alike buzzed about in the brick-walled space, the most in-the-know fashion fans gravitated toward a certain series of racks that carried a particularly electric array of jackets, trousers, shirts and sweaters. On their tags, just below the familiar Gucci logo, was another name: Dapper Dan.
Dapper... | ashraq/financial-news-articles | https://www.wsj.com/articles/dapper-dan-used-to-knock-off-gucci-now-hes-collaborating-with-them-1526310035 |
May 14 (Reuters) - Kleopatra Holdings 2 S.C.A.:
* KLEOPATRA HOLDINGS 2 S.C.A. WITHDRAWS IPO PLANS - SEC FILING
* KLEOPATRA HOLDINGS 2 S.C.A. HAD PREVIOUSLY FILED FOR IPO OF UP TO $100 MILLION IN DECEMBER 2016 Source text: ( bit.ly/2IlWyuu )
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-kleopatra-holdings-withdraws-ipo-p/brief-kleopatra-holdings-withdraws-ipo-plans-sec-filing-idUSFWN1SL0D3 |
TEL-AVIV, Israel, May 03, 2018 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT) (TSX:GZT) (TASE:GZT), a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in urban markets, invites you to participate at 10:00 am US EDT/ 5:00 pm Israel Time on Tuesday, May 29, 2018 in a live conference call with senior management to discuss the Company’s first quarter results ended March 31, 2018.
Gazit Globe’s financial statements and MD&A for the quarter will be released prior to the call, and will be available on the Company's website at: www.gazitglobe.com in the "Investor Relations" section and on the U.S. Securities and Exchange Commission's website at www.sec.gov/edgar.shtml as well as on the Canadian Securities Administrators’ website at www.sedar.com .
The conference call can be accessed by dialing:
United States 1 866 860 9642
Canada 1 866 485 2399
United Kingdom 0 800 051 8913
International / Israel +972 3 9180691
A presentation and replay of the call will be available on the company’s website, in the "Investor Relations" section.
Webcast link: http://veidan-stream.com/gazitglobeq1-2018.html
About Gazit-Globe
Gazit-Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit-Globe is listed on the New York Stock Exchange (NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock Exchange (TASE:GZT) and is included in the TA-35 index in Israel. As of December 31, 2017 Gazit-Globe owns and operates 112 properties, with a gross leasable area of approximately 2.6 million square meters and a total value of approximately NIS 36.9 billion. In addition, the Company owns 32.6% of First Capital Realty Inc and as of May 3, 2018 7.9% of Regency Centers Corporation.
FOR ADDITIONAL INFORMATION
Investors Contact: [email protected] , Media Contact: [email protected]
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
Source:GAZIT-GLOBE LTD | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/globe-newswire-gazit-globe-announces-date-for-q1-2018-results-conference-call.html |
May 15 (Reuters) - Sonic Foundry Inc:
* SONIC FOUNDRY ANNOUNCES FISCAL 2018 SECOND QUARTER FINANCIAL RESULTS
* Q2 LOSS PER SHARE $0.32 * Q2 REVENUE $8.5 MILLION VERSUS $8.6 MILLION Source text for Eikon: Further company coverage:
Our Standards: The Thomson Reuters Trust Principles. | ashraq/financial-news-articles | https://www.reuters.com/article/brief-sonic-foundry-q2-loss-per-share-03/brief-sonic-foundry-q2-loss-per-share-0-32-idUSASC0A2ER |
May 1 (Reuters) - Kia Motors America:
* KIA MOTORS AMERICA SAYS ANNOUNCED APRIL SALES OF 50,585 VEHICLES Source text for Eikon: Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-kia-motors-america-says-announced/brief-kia-motors-america-says-announced-april-sales-of-50585-vehicles-idUSFWN1S80B0 |
$40.9 Million of Revenues, $25.3 Million of Adjusted EBITDAX and $12.2 Million of Net Income
THE WOODLANDS, Texas--(BUSINESS WIRE)-- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we” or “us”), today announced financial and operating results for the quarter .
First Quarter 2018 Highlights
Revenues of $40.9 million
- Increased by 167% from the first quarter of 2017
- Increased by 15% from the fourth quarter of 2017
Average daily production of 9,664 Boepd (1)
- Increased by 104% from the first quarter of 2017
- Increased by 7% from the fourth quarter of 2017
Adjusted EBITDAX (2) of $25.3 million
- Increased by 312% from the first quarter of 2017
- Increased by 14% from the fourth quarter of 2017
Net income of $12.2 million, or $0.19 per combined diluted share (3)
- Compared to net income of $5.5 million, or $0.09 per combined diluted share (3) , in the fourth quarter of 2017
- Compared to net income of $0.7 million, or $0.03 per combined diluted share (3) , 2017
Net income attributable to Earthstone Energy, Inc. of $5.3 million, or $0.19 per diluted share
- Compared to net income attributable to Earthstone Energy, Inc. of $0.7 million, or $0.03 per diluted share 2017
- Compared to net income attributable to Earthstone Energy, Inc. of $2.3 million, or $0.09 per diluted share, in the fourth quarter of 2017
(1) Represents reported sales volumes. (2) Adjusted EBITDAX is a non-GAAP financial measure. See “Reconciliations of Non-GAAP Financial Measures” section below. (3) Net income per combined diluted share is a non-GAAP financial measure. See “Reconciliations of Non-GAAP Financial Measures” section below. Management Comments
Frank A. Lodzinski, Chief Executive Officer of Earthstone Energy, Inc., commented, “We are very pleased with the progress we have made over the past year and through the first quarter as reflected in our financial results. Production, revenues, net income and Adjusted EBITDAX have increased appreciably while we have maintained low levels of leverage. Our per unit metrics continue to improve as evidenced particularly by the continued improvement in lease operating expense per barrel of oil equivalent which decreased in the first quarter by 22% and 47%, respectively, compared to full year 2017 and first quarter 2017. Further we are developing our acreage while maintaining significant liquidity. We will continue to focus clearly on fundamentals, including operations, by controlling costs and improving efficiency and will continue to maintain a strong balance sheet. Operationally, we continue to improve spud to spud drill times and are on track with our drilling and completion program for the year. We will continue to build scale through organic development, acreage trades and field level acquisitions, while working toward larger acquisitions or mergers.”
Operational Update
Midland Basin - In the Midland Basin, we completed two operated wells in January of 2018 that were the last two of a five well operated completion program which began in late 2017. We spud five wells in the first quarter with our continuously running rig on our operated leasehold acreage. In April, 2018, we initiated completions on an eight well program on our operated acreage in which we have an average working interest of 79.3%. This will be a continuous completion program which we anticipate finishing in the second quarter. Total operated and non-operated production in the first quarter averaged approximately 7,567 Boepd (60% oil).
Eagle Ford - In the Eagle Ford, we completed the last six of an eleven well completion program in southern Gonzales County, Texas in January of 2018. During the first quarter, we spud five wells with plans to complete these wells early in the third quarter. Our average working interest in these five wells is 16.7%. Total operated and non-operated production in the first quarter averaged approximately 2,095 Boepd (63% oil).
Selected Financial Data (unaudited)
($000s except where noted) Three Months Ended March 31, 2018 2017 Total Revenues 40,895 15,343 Net Income 12,191 729 Net Income Per Common Share (1) Basic 0.19 0.03 Diluted 0.19 0.03 Adjusted EBITDAX (2) 25,293 6,137 Production (3) : Oil (MBbls) 546 257 Gas (MMcf) 1,044 632 NGL (MBbls) 150 64 Total (MBoe) (4) 870 426 Average Daily Production (Boepd) 9,664 4,735 Average Prices: Oil ($/Bbl) 63.07 48.77 Gas ($/Mcf) 2.57 2.68 NGL ($/Bbl) 25.30 17.62 Total ($/Boe) 47.02 36.00 Adj. for Realized Derivatives Settlements: Oil ($/Bbl) 55.11 47.03 Gas ($/Mcf) 2.63 2.46 NGL ($/Bbl) 25.30 17.62 Total ($/Boe) 42.10 34.63 (1) Net Income Per Common Share attributable to Earthstone Energy, Inc. (2) See “Reconciliations of Non-GAAP Financial Measures” section below. (3) Represents reported sales volumes. (4) Barrels of oil equivalent have been calculated on the basis of six thousand cubic feet (Mcf) of natural gas equals one barrel of oil equivalent (BOE). Liquidity
As of March 31, 2018, the Company had $11 million in cash and $30 million of long-term debt outstanding under its credit facility with a current borrowing base of $185 million.
Capital Expenditures
During the three months , we incurred capital expenditures of approximately $22.5 million, on an accrual basis, primarily consisting of drilling and completion costs.
Hedging Update
As of March 31, 2018, we had hedged a total of 1,077 MBbls of remaining 2018 oil production at an average price of $51.10/Bbl and 1,825,000 MMBtu of remaining 2018 natural gas production at average price of $2.95/MMBbtu. As of March 31, 2018, we had hedged a total of 1,077 MBbls of 2019 oil production at an average price of $55.37/Bbl. Additionally, we have a crude oil basis swap of $(0.15) for 454 MBbls of remaining 2018 oil production between Midland - WTI and the NYMEX - WTI.
Conference Call Details
Earthstone is hosting conference call on Friday, May 4, 2018 at 11:00 a.m. Eastern (10:00 a.m. Central) to discuss the Company’s operational and financial results of 2018 and its outlook for the remainder of 2018. Prepared remarks by Robert J. Anderson, President, and Mark Lumpkin, Jr., Executive Vice President and Chief Financial Officer will be followed by a question and answer session.
Investors and analysts are invited to participate in the call by dialing 877-407-6184 for domestic calls or 201-389-0877 for international calls, in both cases asking for the Earthstone conference call. A webcast will also be available through the Company's website ( www.earthstoneenergy.com ). Please select "Events & Presentations" under the "Investors" section of the Company's website and log on at least 10 minutes in advance to register.
A replay of the call will be available on the Company’s website and by telephone until 11:00 a.m. Eastern (10:00 a.m. Central), Friday, May 18, 2018. The number for the replay is 877-660-6853 for domestic calls or 201-612-7415 for international calls, using Replay ID: 13679644.
About Earthstone Energy, Inc.
Earthstone Energy, Inc. is a growth-oriented, independent energy company engaged in the development and operation of oil and natural gas properties. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. Earthstone is listed on the New York Stock Exchange under the symbol “ESTE.” For more information, visit the Company’s website at www.earthstoneenergy.com .
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. The forward-looking statements include statements about the expected future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company, and plans and objectives of management for future operations. Forward-looking statements are based on current expectations and assumptions and analyses made by Earthstone and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: risks relating to any unforeseen liabilities of the Company; declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to the level of indebtedness and periodic redeterminations of the borrowing base under the Company’s credit agreement; Earthstone’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; Earthstone’s ability to obtain external capital to finance exploration and development operations and acquisitions; the ability to successfully complete any potential asset acquisitions and the risks related thereto; the impacts of hedging on results of operations; uninsured or underinsured losses resulting from oil and natural gas operations; Earthstone’s ability to replace oil and natural gas reserves; and any loss of senior management or technical personnel. Earthstone’s annual report on Form 10-K for the year ended December 31, 2017, quarterly reports on Form 10-Q, recent current reports on Form 8-K and other Securities and Exchange Commission (“SEC”) filings discuss some of the important risk factors identified that may affect Earthstone’s business, results of operations, and financial condition. Earthstone undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.
EARTHSTONE ENERGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except share and per share amounts)
March 31, December 31, ASSETS 2018 2017 Current assets: Cash $ 11,058 $ 22,955 Accounts receivable: Oil, natural gas, and natural gas liquids revenues 17,241 14,978 Joint interest billings and other, net of allowance of $138 at March 31, 2018 and December 31, 2017 19,732 7,778 Derivative asset 213 184 Prepaid expenses and other current assets 1,382 1,178 Total current assets 49,626 47,073 Oil and gas properties, successful efforts method: Proved properties 627,252 605,039 Unproved properties 275,067 275,025 Land 5,382 5,534 Total oil and gas properties 907,701 885,598 Accumulated depreciation, depletion and amortization (127,628 ) (118,028 ) Net oil and gas properties 780,073 767,570 Other noncurrent assets: Goodwill 17,620 17,620 Office and other equipment, net of accumulated depreciation of $2,196 and $2,093 at March 31, 2018 and December 31 2017, respectively 854 947 Derivative asset 103 — Other noncurrent assets 1,140 1,207 TOTAL ASSETS $ 849,416 $ 834,417 LIABILITIES AND EQUITY Current liabilities: Accounts payable
$ 4,261 $ 33,472 Revenues and royalties payable 18,883 10,288 Accrued expenses 10,024 8,707 Advances 19,418 4,587 Derivative liability 12,483 11,805 Total current liabilities 65,069 68,859 Noncurrent liabilities: Long-term debt 30,000 25,000 Deferred tax liability 10,764 10,515 Asset retirement obligation 1,777 2,354 Derivative liability 2,280 1,826 Other noncurrent liabilities 129 131 Total noncurrent liabilities 44,950 39,826 Equity: Preferred stock, $0.001 par value, 20,000,000 shares authorized; none issued or outstanding — — Class A Common stock, $0.001 par value, 200,000,000 shares authorized; 27,864,956 issued and outstanding at March 31, 2018 and 27,584,638 issued and outstanding at December 31, 2017 28 28 Class B Common Stock, $0.0001 par value, 50,000,000 shares authorized; 35,858,123 shares issued and outstanding at March 31, 2018; 36,052,169 issued and outstanding at December 31, 2017 36 36 Additional paid-in capital 507,815 503,932 Accumulated deficit (219,501 ) (224,822 ) Total Earthstone Energy, Inc. equity 288,378 279,174 Noncontrolling interest 451,019 446,558 Total equity 739,397 725,732 TOTAL LIABILITIES AND EQUITY $ 849,416 $ 834,417 EARTHSTONE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except share and per share amounts)
Three Months Ended March 31, 2018 2017 REVENUES Oil $ 34,417 $ 12,519 Natural gas 2,684 1,694 Natural gas liquids 3,794 1,130 Total revenues 40,895 15,343 OPERATING COSTS AND EXPENSES Lease operating expense 4,657 4,339 Severance taxes 2,037 790 Depreciation, depletion and amortization 9,708 7,889 General and administrative expense 4,639 3,492 Stock-based compensation 1,940 1,311 Transaction costs — 803 Accretion of asset retirement obligation 41 152 Total operating costs and expenses 23,022 18,776 Gain on sale of oil and gas properties 449 — Income (loss) from operations 18,322 (3,433 ) OTHER INCOME (EXPENSE) Interest expense, net (613 ) (337 ) (Loss) gain on derivative contracts, net (5,275 ) 4,460 Other income, net 6 1 Total other income (expense) (5,882 ) 4,124 Income before income taxes 12,440 691 Income tax (expense) benefit (249 ) 38 Net income 12,191 729 Less: Net income attributable to noncontrolling interest 6,870 — Net income attributable to Earthstone Energy, Inc. $ 5,321 $ 729 Net income per common share attributable to Earthstone Energy, Inc.: Basic $ 0.19 $ 0.03 Diluted $ 0.19 $ 0.03 Weighted average common shares outstanding: Basic 27,783,805 22,276,996 Diluted 27,911,924 22,585,474 EARTHSTONE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
For the Three Months Ended
March 31, 2018 2017 Cash flows from operating activities: Net income $ 12,191 $ 729 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 9,708 7,889 Accretion of asset retirement obligations 41 152 Settlement of asset retirement obligations (52 ) — Gain on sale of oil and gas properties (449 ) — Total loss (gain) on derivative contracts, net 5,275 (4,460 ) Operating portion of net cash paid in settlement of derivative contracts (4,275 ) (586 ) Stock-based compensation 1,940 1,311 Deferred income taxes 249 (38 ) Amortization of deferred financing costs 69 79 Changes in assets and liabilities: Decrease in accounts receivable 737 5,920 Increase in prepaid expenses and other current assets (314 ) (214 ) Decrease in accounts payable and accrued expenses (17,611 ) (1,710 ) Increase (decrease) in revenues and royalties payable 8,595 (5,161 ) Increase in advances 662 455 Net cash provided by operating activities 16,766 4,366 Cash flows from investing activities: Additions to oil and gas properties (33,372 ) (4,168 ) Additions to office and other equipment (15 ) — Proceeds from sales of oil and gas properties 195 — Net cash used in investing activities (33,192 ) (4,168 ) Cash flows from financing activities: Proceeds from borrowings 20,000 — Repayments of borrowings (15,000 ) (392 ) Cash paid related to the exchange and cancellation of Class A Common Stock (468 ) — Deferred financing costs (3 ) — Net cash provided by (used in) financing activities 4,529 (392 ) Net decrease in cash and cash equivalents (11,897 ) (194 ) Cash at beginning of period 22,955 10,200 Cash at end of period $ 11,058 $ 10,006 Supplemental disclosure of cash flow information
Cash paid for: Interest $ 383 $ 147 Non-cash investing and financing activities: Accrued capital expenditures $ 8,967 $ 1,575 Asset retirement obligations $ (181 ) $ 21 Earthstone Energy, Inc.
Reconciliations of Non-GAAP Financial Measure
Unaudited
I. Adjusted EBITDAX
Adjusted EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net income because of its wide acceptance by the investment community as a financial indicator.
We define “Adjusted EBITDAX” as net income plus, when applicable, accretion of asset retirement obligations; depletion, depreciation and amortization; interest expense, net; transaction costs; (gain) on sale of oil and gas properties; unrealized loss (gain) on derivatives; stock-based compensation; and income tax expense (benefit).
Our Adjusted EBITDAX measure provides additional information that may be used to better understand our operations. Adjusted EBITDAX is one of several metrics that we use as a supplemental financial measurement in the evaluation of our business and should not be considered as an alternative to, or more meaningful than, net income as an indicator of operating performance. Certain items excluded from Adjusted EBITDAX are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic cost of depreciable and depletable assets. Adjusted EBITDAX, as used by us, may not be comparable to similarly titled measures reported by other companies. We believe that Adjusted EBITDAX is a widely followed measure of operating performance and is one of many metrics used by our management team and by other users of our consolidated financial statements. For example, Adjusted EBITDAX can be used to assess our operating performance and return on capital in comparison to other independent exploration and production companies without regard to financial or capital structure and to assess the financial performance of our assets and our company without regard to capital structure or historical cost basis.
The following table provides a reconciliation of Net income to Adjusted EBITDAX for the periods indicated:
($000s) Three Months Ended March 31, 2018 2017 Net income 12,191 729 Accretion of asset retirement obligations 41 152 Depletion, depreciation and amortization 9,708 7,889 Interest expense, net 613 337 Transaction costs — 803 (Gain) on sale of oil and gas properties (449 ) — Unrealized loss (gain) on derivative contracts 1,000 (5,046 ) Stock based compensation (non-cash) 1,940 1,311 Income tax expense (benefit) 249 (38 ) Adjusted EBITDAX 25,293 6,137 II. Net Income Per Combined Diluted Share
We define “Net income per combined diluted share” as the combination of (i) net income attributable to Earthstone Energy, Inc. and (ii) net income attributable to noncontrolling interest, divided by the combination of (iii) diluted weighted average shares of Class A Common Stock and (iv) weighted average shares of Class B Common Stock outstanding.
Net income per combined diluted share, as used by us, may not be comparable to similarly titled measures reported by other companies. We believe that Net income per combined diluted share is a metric used by our management team and by other users of our consolidated financial statements in order to view the overall results of the controlled entity.
The following table provides a reconciliation of net income per diluted share to net income per combined diluted share for the periods indicated (in thousands, except share and per share amounts):
Three Months Ended March 31, 2018 2017 Net income attributable to Earthstone Energy, Inc. $ 5,321 $ 729 Diluted weighted average shares of Class A Common Stock outstanding 27,911,924 22,585,474 Net income attributable to Earthstone Energy, Inc. per diluted share $ 0.19 $ 0.03 Non-GAAP Measure Numerator: Net income attributable to Earthstone Energy, Inc. $ 5,321 $ 729 Add: Net income attributable to noncontrolling interest 6,870 — Net income $ 12,191 $ 729 Non-GAAP Measure Denominator: Diluted weighted average shares of Class A Common Stock outstanding 27,911,924 22,585,474 Weighted average shares of Class B Common Stock outstanding 35,903,732 — Diluted weighted average shares of combined Class A and Class B Common Stock outstanding 63,815,656 22,585,474 Net income per combined diluted share $ 0.19 $ 0.03 The following table provides a reconciliation of net income per diluted share to net income per combined diluted share for the three months ended December 31, 2017 (in thousands, except share and per share amounts):
Net income attributable to Earthstone Energy, Inc. $ 2,324 Diluted weighted average shares of Class A Common Stock outstanding 26,425,780 Net income attributable to Earthstone Energy, Inc. per diluted share $ 0.09 Non-GAAP Measure Numerator: Net income attributable to Earthstone Energy, Inc. $ 2,324 Add: Net income attributable to noncontrolling interest 3,173 Net income $ 5,497 Non-GAAP Measure Denominator: Diluted weighted average shares of Class A Common Stock outstanding 26,425,780 Weighted average shares of Class B Common Stock outstanding 36,059,065 Diluted weighted average shares of combined Class A and Class B Common Stock outstanding 62,484,845 Net income per combined diluted share $ 0.09
View source version on businesswire.com : https://www.businesswire.com/news/home/20180503006510/en/
Earthstone Energy, Inc.
Mark Lumpkin, Jr., 281-298-4246
Executive Vice President – Chief Financial Officer
[email protected]
or
Scott Thelander, 281-298-4246
Director of Finance
[email protected]
Source: Earthstone Energy, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/03/business-wire-earthstone-energy-inc-reports-first-quarter-2018-results.html |
Oxygen presence in distant galaxy sheds light on early universe Reuters 18 hrs ago By Will Dunham © REUTERS Hubble Space Telescope image of the galaxy cluster MACS J1149.5+2223 and ALMA image of the galaxy MACS1149-JD1 located 13.28 billion light-years away After detecting a whiff of oxygen, astronomers have determined that stars in a faraway galaxy formed 250 million years after the Big Bang -- a rather short time in cosmic terms -- in a finding that sheds light on conditions in the early universe.
Their research, published on Wednesday, provides insight into star formation in perhaps the most distant galaxy ever observed. The scientists viewed the galaxy, called MACS1149-JD1, as it existed roughly 550 million years after the Big Bang, which gave rise to the universe about 13.8 billion years ago.
Light emitted by MACS1149-JD1 traveled 13.28 billon light years before reaching Earth. Looking across such distances lets scientists peer back in time. A light year is the distance light travels in a year, 5.9 trillion miles (9.5 trillion km).
The detection of oxygen in MACS1149-JD1 was particularly instructive. The universe initially was devoid of elements such as oxygen, carbon and nitrogen, which were first created in the fusion furnaces of the earliest stars and then spewed into interstellar space when these stars reached their explosive deaths.
The presence of oxygen showed that an even earlier generation of stars had formed and died in MACS1149-JD1 and that star formation in that galaxy began about 250 million years after the Big Bang when the universe was only about 2 percent of its current age, the researchers said.
The oxygen in MACS1149-JD1 was the most distant ever detected.
"Prior to our study, there were only theoretical predictions of the earliest star formation. We have for the first time observed the very early stage of star formation in the universe," said astronomer Takuya Hashimoto of Osaka Sangyo University in Japan.
The study marked another step forward as scientists hunt for evidence of the first stars and galaxies that emerged from what had been total darkness in the aftermath of the Big Bang, a time sometimes called "cosmic dawn."
"With these observations, we are pushing back the limit of the observable universe and, therefore, we are coming closer to the cosmic dawn," University College London astronomer Nicolas Laporte said, adding that computer simulations suggest that the first stars appeared around 150 million years after the Big Bang.
The researchers confirmed the distance of the galaxy with observations from ground-based telescopes in Chile and reconstructed the earlier history of MACS1149-JD1 using infrared data from orbiting telescopes.
The research was published in the journal Nature.
(Reporting by Will Dunham; Editing by Sandra Maler)
| ashraq/financial-news-articles | http://www.reuters.com/article/us-space-galaxy-idUSKCN1IH2SO?utm_source=34553&utm_medium=partner |
HOUSTON, Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced that its Board of Directors has declared a quarterly cash dividend on the Company's common stock in the amount of $0.26 per share. The dividend is payable on June 20, 2018 to shareholders of record at the close of business on May 23, 2018.
Powell Industries, Inc., headquartered in Houston, engineers packaged solutions and systems for the management, control and distribution of electrical energy. Powell markets include large industrial customers such as utilities, oil and gas producers, refineries, petrochemical plants, pulp and paper producers, mining operations and commuter railways. For more information, please visit powellind.com .
Contact:
Don R. Madison, CFO
Powell Industries, Inc.
713-947-4422
View original content: http://www.prnewswire.com/news-releases/powell-industries-declares-quarterly-cash-dividend-300644628.html
SOURCE Powell Industries, Inc. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/08/pr-newswire-powell-industries-declares-quarterly-cash-dividend.html |
May 14 (Reuters) - Reed’s Inc:
* REED’S, INC. ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS
* Q1 SALES $8.3 MILLION * Q1 LOSS PER SHARE $0.06 Source text for Eikon: Further company coverage:
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WASHINGTON (Reuters) - The United States is still hopeful about a planned summit with North Korean leader Kim Jong Un but President Donald Trump is prepared for a tough negotiation process, White House spokeswoman Sarah Sanders said on Wednesday.
North Korean leader Kim Jong Un meets with U.S. Secretary of State Mike Pompeo in this May 9, 2018 photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang May 10, 2018. KCNA / via REUTERS North Korea threw next month’s summit between Kim and Trump into doubt on Wednesday, threatening weeks of diplomatic progress by saying it may reconsider if Washington insists it unilaterally gives up its nuclear weapons.
“We’re still hopeful that the meeting will take place and we’ll continue down that path but at the same time we’ve been prepared that these could be tough negotiations,” Sanders said in an interview with Fox News.
“The president is ready if the meeting takes place. If it doesn’t, we’ll continue the maximum pressure campaign that’s been ongoing.”
Sanders said the comments from North Korea were “not something that is out of the ordinary in these types of operations.”
“The president’s fully prepared and fully ready to carry on in these conversations both leading up to and if the meeting takes place,” she said. “He’ll be there and he’ll be ready.”
According to North Korea’s official KCNA news agency, Pyongyang’s first vice minister of foreign affairs, Kim Kye Gwan, specifically criticized U.S. national security adviser John Bolton, who has called for the North to quickly give up its nuclear arsenal in a deal that mirrors Libya’s abandonment of its weapons of mass destruction.
Sanders played down those concerns. “I haven’t seen that as part of any discussions so I’m not aware that that’s a model that we’re using,” she told reporters at the White House on Wednesday.
The Trump-Kim meeting is scheduled for June 12 in Singapore.
Reporting by Doina Chiacu and Steve Holland; Editing by Chizu Nomiyama and Bill Trott
| ashraq/financial-news-articles | https://in.reuters.com/article/northkorea-missiles-usa/white-house-u-s-still-hopeful-for-north-korea-summit-idINKCN1IH1QG |
May 3 (Reuters) - Genie Energy Ltd:
* Q1 EARNINGS PER SHARE $0.24 * Q1 REVENUE $89.3 MILLION Source text for Eikon:
Our | ashraq/financial-news-articles | https://www.reuters.com/article/brief-genie-energy-ltd-reports-q1-earnin/brief-genie-energy-ltd-reports-q1-earnings-per-share-0-24-idUSASC09ZI4 |
LIMA (Reuters) - Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern’s $2 billion copper project Michiquillay, Buenaventura’s chief executive told Reuters on Wednesday.
“They were receptive ... but it’s up to them to evaluate the preliminary proposal,” Victor Gobitz said in an interview at the International Gold & Silver Symposium in Lima, Peru.
The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
Buenaventura believes it is well-positioned to help develop the copper project because it already operates a large open-pit gold mine in the same northern Andean region where Southern will develop Michiquillay.
Southern, controlled by Grupo Mexico, operates mines in southern Peru and Mexico.
“Our logic is that there would be synergies,” Gobitz said. “You create more value.”
Southern was not immediately available for comment but when the deal first became public last month said it was evaluating Buenaventura’s proposal.
But the two companies building a major new mine together might also make Michiquillay a target for local opposition, according to an industry source.
The project might require lengthy negotiations to resettle communities in the Andes, where obtaining a so-called social license can be one of the biggest hurdles to mining investments.
Buenaventura and Southern were both forced to halt plans to build mining projects in Peru following deadly protests by activists and farmers worried about environmental impacts. Southern suspended its $1.2 billion Tia Maria project in 2015. Newmont Mining Corp’s $4.8 billion gold and copper Conga project, which Buenaventura owns a 43.7 percent stake in, has been shelved since 2011.
Gobitz said Buenaventura owed it to shareholders to create a business model that paves a path to the eventual construction of Conga. “It’s part of my mandate,” Gobitz said.
Southern has said it hopes the government of the country’s new president, Martin Vizcarra, will issue a construction permit for Tia Maria this year.
But reviving Tia Maria or Conga this year, when opposing the projects could become a platform for anti-mining candidates in regional elections, might be difficult.
Gobitz added that Buenaventura has been implementing an “ambitious” plan to cut costs to trim debt as fuel prices rise.
“This year we want to be more rigorous and critical before venturing into an investment...with disciplined control of capital expenditure,” Gobitz said.
New projects should deliver a return on investments of at least 15 percent, Gobitz said.
The company expects its production of gold and silver to rise 8 percent this year, thanks in part to its mine Tambomayo, Gobitz said.
Reporting by Teresa Cespedes; Writing by Mitra Taj; Editing by Lisa Shumaker
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© 2018 Reuters. All Rights Reserved. | ashraq/financial-news-articles | https://www.reuters.com/article/us-peru-mining-buenaventura/perus-buenaventura-seeks-deal-with-southern-on-copper-project-idUSKCN1IW07Q |
May 14, 2018 / 6:06 AM / Updated 2 minutes ago The media are agog but are Britons really bothered about royal wedding? Alex Fraser , Michael Holden 6 Min Read
ETON, England (Reuters) - Drinking pints in a traditional English pub in the genteel town of Eton under swathes of red, white and blue bunting, locals say Saturday’s wedding of Prince Harry and his American fiancée Meghan Markle is going to be a massive event. Others are not so sure. FILE PHOTO - Commemorative items are seen for sale ahead of the forthcoming wedding of Britain's Prince Harry and his fiancee Meghan Markle, on Oxford Street in London, Britain, May 11, 2018. REUTERS/Toby Melville
“It’s part of being British,” said Chris Partington, 34, standing at the bar of the Henry VI pub, half a mile from Windsor Castle where the royal wedding will be held and close to the exclusive Eton College Harry attended as a boy.
“There’s a great buzz about the place, I think it’s brilliant,” the software company worker told Reuters.
There is no doubt that the wedding of Prince Harry, Queen Elizabeth’s grandson and sixth-in-line to the throne, and Hollywood actress Markle, star of TV drama “Suits”, has the media transfixed.
In the last month, barely a day has passed without mention of the wedding on the front pages of tabloid newspapers while TV stations in Britain and the United States have delivered a steady diet of documentaries and other insights into the big day.
More than 5,000 media and support staff have registered for official positions in Windsor for the wedding, along with more than 160 photographers and 79 international TV networks, Kensington Palace said.
But polls suggest that interest is the wedding is not shared so widely by the British public at large.
A survey by Opinium Research last week showed only 38 percent of Britons planned to tune in to watch the occasion on TV. More than half, 53 percent, said they would not. NOT NECESSARY
“I don’t think it’s significant,” truck driver Ben Tindle, 33, told Reuters in Islington, north London, near a vandalised street art depiction of Markle and two soldiers in traditional scarlet uniforms.
“Royal family, people born into richness, it’s not really necessary in this day and age. I don’t even know when (the wedding) is.”
Britain’s monarchy continues to be a source of fascination around the world and few other countries can emulate the pageantry which surrounds the royals.
One British government minister said 2 billion people were thought to have watched television broadcasts of the 2011 wedding of Harry’s elder brother William to wife Kate.
Some 750 million are said to have watched Harry’s father and mother, heir-to-the-throne Prince Charles and the late Princess Diana, get married in 1981, while some reports suggested that as many as 2.5 billion watched Diana’s funeral in 1997.
But whether the nuptials of Harry, 33, and Markle, 36, will generate similar interest is unclear. FEWER STREET PARTIES
No government department could provide any expected audience figures for Saturday’s ceremony and while about 5,500 street parties were held across Britain to mark William’s wedding, officials said there would be far fewer this time around.
The county of Hertfordshire, which claimed to be street party capital of Britain after hosting nearly 300 events in 2011, said just 56 were planned this time.
“There definitely aren’t as many applications as there were for the last one,” said a spokesman for Britain’s Communities Department. “It doesn’t seem to have generated as much interest.”
Graham Smith, chief executive of the anti-monarchist campaign group Republic, said such figures reflected the gulf between the media portrayal of the monarchy and a greater indifference among Britons as a whole.
“The vast majority of the people in this country and around the world are not watching, don’t care and will be getting on with their lives as normal,” he told Reuters.
“There’s a sizeable number of people that are interested and enjoy it, and that number is big enough to warrant the media interest. But that is very different to saying everybody loves the royals.”
Certainly though, there appears no widespread desire to dispense with the Windsors. The Opinium survey found 61 percent of Britons thought the monarchy should continue compared to 25 percent who believed Britain should become a republic.
Opinions of the royals themselves varied greatly though. Harry was viewed favourably by 71 percent of respondents, one point less than his brother who had the highest rating, with the 92-year-old queen recording a 68 percent favourable score.
Charles was rated favourably by just 36 percent and his second wife Camilla 21 percent, with 42 percent holding an unfavourable view of her.
“Prince Harry is what you would call one of lads. People like that. He’s not big-headed, nothing like that,” said car mechanic Shaun Gill, 39, another regular at Eton’s Henry VI pub. He said the royal family were hugely important to his local area.
“The history, the tourism, business-wise, if there was no castle in Windsor, the town would be dead,” he said.
Gill will attend an all-day party in the pub, one of many events that will combine a celebration of the wedding with watching the FA Cup final, the showpiece end to the English soccer season. “It’s going to be a massive event. It’ll be a good day,” he said.
Royal historian Hugo Vickers predicted such sentiment would increase as Saturday aapproached.
“I think the British are always rather contained in the way they respond to things,” he said. “I think you’ll see a lot of excitement as it gets nearer.”
But whether the wedding itself will be a focal point for Britons or merely an excuse for a get-together is a moot point.
“I’ll probably be with my friends, with wine. I’m rooting for them, I hope it goes well for them because they seem like lovely people,” writer Jenny Glanville, 37, told Reuters in Islington.
“In terms of them being royals, is that why I’m watching it? No.” Writing by Michael Holden; editing by Guy Faulconbridge and Giles Elgood | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-britain-royals-wedding/the-media-are-agog-but-are-britons-really-bothered-about-royal-wedding-idUKKCN1IF0HM |
May 10, 2018 / 4:25 PM / Updated 35 minutes ago Mediapro to appeal Italy ruling on Serie A rights tender Reuters Staff 1 Min Read
MILAN (Reuters) - Spanish multimedia group Mediapro will appeal an Italian judge’s decision to cancel its tender for the TV broadcasting rights of Serie A soccer matches, the company said on Thursday.
Mediapro is trying to on-sell the rights to Italy’s top league but a Milan judge cancelled the tender this week, saying it breached antitrust rules. The Italian unit of broadcaster Sky had challenged the terms of the tender.
The tender had already been suspended in mid-April after Sky Italia requested the court to verify whether the sale respected Italian regulation.
Mediapro said it had analysed the judge’s decision and believed its tender was in line with Italian regulations and with the contract it had signed with Italy’s soccer league. Reporting by Agnieszka Flak; Editing by Mark Bendeich | ashraq/financial-news-articles | https://uk.reuters.com/article/uk-sky-mediapro-soccer-court/mediapro-to-appeal-italy-ruling-on-serie-a-rights-tender-idUKKBN1IB2F6 |
May 22, 2018 / 12:29 PM / Updated 26 minutes ago MOVES-Martin Currie makes senior appointment Reuters Staff 1 Min Read
May 22 (Reuters) - Equity firm Martin Currie appointed Zehrid Osmani to lead its global long-term unconstrained (GLTU) team.
Zehrid, who has over 20 years of experience, joins from BlackRock and will be based in Edinburgh.
Zehrid will report to John Pickard, head of investment. (Reporting by Tamara Mathias) | ashraq/financial-news-articles | https://www.reuters.com/article/martin-currie-moves-zehrid-osmani/moves-martin-currie-makes-senior-appointment-idUSL3N1ST418 |
May 23 (Reuters) - Realm Therapeutics PLC:
* REALM THERAPEUTICS PLC FILES FOR OFFERING OF 126.9 MILLION ORDINARY SHARES REPRESENTED BY ITS ADS - SEC FILING
* REALM THERAPEUTICS PLC SAYS IT INTENDS TO APPLY TO LIST ITS AMERICAN DEPOSITARY SHARES ON NASDAQ UNDER THE SYMBOL “RLM”
* REALM THERAPEUTICS PLC SAYS EACH ADS REPRESENTS 25 OF ITS ORDINARY SHARES Source text - ( bit.ly/2s2OGIm ) Further company coverage:
| ashraq/financial-news-articles | https://www.reuters.com/article/brief-realm-therapeutics-plc-files-for-o/brief-realm-therapeutics-plc-files-for-offering-of-126-9-million-ordinary-shares-represented-by-its-ads-idUSFWN1SU0IE |
OXFORD, United Kingdom, May 17, 2018 (GLOBE NEWSWIRE) --
Sophos Group plc (the “Group”) (LSE:SOPH), a leading provider of cloud-enabled enduser and network cybersecurity solutions, today issues its audited results for the year-ended 31 March 2018 (“FY18”).
Financial highlights
Billings 1 grew by 22% to $769 million, an increase of 18% at constant currency Revenue increased by 21% to $641 million, reflecting constant currency growth of 18%, driven by 26% growth in subscription revenue in the period Cloud subscription billings continued to grow strongly, with Sophos Central up 112% to $186 million, from $88 million in FY17 Total subscription renewal base has now surpassed the $1 billion milestone Net renewal rate, including cross-sell and upsell, improved to 140% from 129% in FY17 Adjusted operating profit 2 increased by 20% to $46 million, from $38 million in the prior-year Loss before taxation increased to $52 million, from $49 million, despite the increase in adjusted operating profit, after the negative impact of financing foreign exchange losses Strong growth in new business with over 300,000 customers at the end of the year, from 260,000 in FY17 Final dividend of 3.5 cents per share, an increase of 6.1% over the prior year; total dividend for the year of 4.9 cents, an increase of 6.5%
Financial summary
FY18 FY17 Growth $M $M % Billings 768.6 632.1 21.6 Revenue 640.7 529.7 21.0 Cash EBITDA 3 193.7 150.1 29.0 Loss before taxation (52.3) (49.3) 6.1 Unlevered free cash flow 4 139.6 133.4 4.6 Net cash flow from operating activities 147.7 118.5 24.6
FY19 and medium-term guidance
In the current year, we expect mid-teens per cent billings growth, including a c.200bps currency benefit, and growth in margin consistent with our medium term outlook. We remain confident in our goal of delivering annual billings of c.$1 billion, unlevered free cash flow of $220-240 million and adjusted operating profit greater than $100 million for FY20.
Chief Executive Officer, Kris Hagerman, commented:
“FY18 was a strong year for Sophos. Cybersecurity has never been more important for enterprises of all sizes, and the demand environment for our solutions has never been stronger. We continue to take share in the market, as we execute a differentiated strategy of delivering advanced and highly-effective cybersecurity solutions designed to be simple to use, managed in the cloud, and sold 100% through our channel partners. We have a massive market opportunity in front of us, and our strong and growing subscription base and growth in new customers, combined with our next-generation technology in endpoint and firewall and our Sophos Central cloud platform, position us well for FY19 and beyond.”
Please see the full results on the Sophos Investor website here:
https://polaris.brighterir.com/public/sophos/news/rns/story/rmykd9r
About
The Sophos Group is a leading global provider of cloud-enabled enduser and network security solutions, offering organisations end-to-end protection against known and unknown IT security threats through products that are easy to install, configure, update and maintain. For further information please visit: www.sophos.com . The Group has over 30 years of experience in enterprise security and has built a portfolio of products that protects over 300,000 organisations and over 100 million endusers in 150 countries, across a variety of industries.
Forward-looking statements
Certain statements in this announcement constitute “forward-looking statements”. These forward-looking statements involve risks, uncertainties and other factors that may cause the Group’s actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements. These factors include: general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance or programmes, or the delivery of products or services under them; structural change in the security industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. The Group undertakes no obligation to update or revise any forward-looking statement to reflect any change in expectations or any change in events, conditions or circumstances.
Contact Sophos Group plc
Tel: +44 (0) 1235 559 933
Kris Hagerman, Chief Executive Officer
Nick Bray, Chief Financial Officer
Derek Brown, Vice President Investor Relations Financial Public Relations
James Macey White / Mat Low
Tulchan Communications
Tel: +44 (0) 20 7353 4200
Billings represents the value of products and services invoiced to customers after receiving a purchase order from the customer and delivering products and services to them, or for which there is no right to a refund. Billings does not equate to statutory revenue. Adjusted operating profit represents the Group’s operating profit / (loss) adjusted for amortisation charges, share option charges and exceptional items. Cash earnings before interest, taxation, depreciation and amortisation (“Cash EBITDA”) is defined as the Group’s operating profit/ (loss) adjusted for depreciation and amortisation charges, any gain or loss on the sale of tangible and intangible assets, share option charges, unrealised foreign exchange differences and exceptional items, with billings replacing recognised revenue. Unlevered free cash flow represents Cash EBITDA less purchases of property, plant and equipment and intangibles, plus cash flows in relation to changes in working capital and taxation.
Source:Sophos Ltd. | ashraq/financial-news-articles | http://www.cnbc.com/2018/05/17/globe-newswire-sophos-group-plc-results-for-the-year-ended-31-march-2018.html |
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