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How Soon Is Too Soon to Make a Career Change? You hear about people making midlifecareer changes, and while that's certainly a challenging endeavor, switching careers can be a positive move, as it could lead to more on-the-job satisfaction. But what happens when you realize you've chosen the wrong career path after just a year or two in the workforce? Is there such a thing as changing careers too early? Many people who switch careers do so after spending years on the job, and as such, are forced to take a step backward title-wise and salary-wise when they start over. But dealing with both is easier said than done when you're in your 30s or 40s, have grown accustomed to a certain lifestyle, and perhaps have a family to support. The benefit of switching careers early on is that you're not yet too established, so you might get away with making more of alateral movewithout suffering too large a hit to your income or ego. Image source: Getty Images. Furthermore, when you make a pretty rapid career switch, you don't fall into the trap of wasting too much time at a job that ultimately doesn't benefit you, aside from the salary it pays you to work there. Some workers realize in their late 40s or 50s that they've effectively wasted the last 25 or 30 years of their lives and aren't where they want to be professionally. By switching careers early on, you lower your risk of feeling similarly. The decision to change careers is a big one, and the benefit of doing so later in life is that by the time you've spent a number of years working, you have a better sense of what you really want. When you're younger and less experienced, you mightthinkyou're ready for a career change when, in reality, that's not what's going to make you happier on the job. Before you rush to switch careers after only having spent a year or two in the workforce, ask yourself if this next move is truly what's right for you. It may be that you're still finding your way, or that you're frustrated with specific aspects of your first job and think a change of some sort is in order. But remember, starting at the bottom in another field may leave you equally frustrated, so think about the reasons behind your desired career change and make sure you're moving forward for the right ones. If youaregoing to initiate a career change, talk to people in that industry first and try to get a sense of what it's really like to work in it. At the same time, make sure you have the skills needed to get hired at the sort of job you're interested in. Being relatively inexperienced on a whole means you might have a harder time making that transition, so just be prepared. Switching careers early on could end up being a smart decision. Just make sure to really think things through before taking the plunge. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market The Motley Fool has adisclosure policy.
Getting Paid Time Off and Taking It Aren't Always the Same Many Americans, one can argue, work too much. Roughly 40% of employees put in more than50 hours each weekat work, while 20% work over 60. That's a lot of hours, even if you love your job. Not taking earned vacations -- or working someplace that does not offer paid time off (PTO) -- can lead to poor performance, burnout, and resentment. Despite that, many Americans don't take their allotted time off, and a depressing amount don't get any, according to anew surveyconducted on behalf of Celebrity Cruises. Of the 1,200 adult Americans surveyed, only 750 of them reported getting PTO, and some of them simply choose not to use it. It's important to take time off and for bosses to create a workplace culture where that's encouraged. Image source: Getty Images. The workers who get PTO reported a median of 14 days a year. This can vary, but PTO often includes any time away -- sick days and vacation days -- though that's not always the case. Almost half (47%) of those who get PTO did not use all of it, because PTO includes sick days and personal days at many companies. That means workers have to save some of these days for later in the year and may end up not using them. Sometimes that means they're lost, and in other cases, they roll over into the next year. "A part of the reason for this PTO negligence may be vacation shaming in the workplace," according to the report. "Colleagues and managers don't always respond well to vacation requests. Employees can fear using their paid time off will put their work relationships and career at risk." That's a prettytoxic workplaceenvironment that's not really good for the employer or the workers. People need to be able to use that time off to recharge, relax, and think about things other than work. If they don't get it, their performance and attitude will almost certainly suffer. Image source: Celebrity Cruises. As a manager or company owner, it's important to create an environment where your employees feel comfortable taking time off. You also want to have a generous policy that separates planned vacations from sick days or family emergencies. Encourage your staff members to use their vacation time -- and even mandate it if people don't follow along. This does not mean all workers get every day off they want. It's important to schedule longer trips and work out things like coverage over major holidays or school breaks. That might require some negotiation, especially at smaller companies, and some workers may not get every day they want. That's a minor issue compared with creating a culture where employees understand that their boss wants them to take time off. Set an example by taking time off yourself, and work with employees to make sure they do the same. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market The Motley Fool has adisclosure policy.
Megan Rapinoe's Style Scores Big Time, On And Off The Field Megan Rapinoe, co-captain of the U.S. women’s national soccer team, has been rightfully making more headlines for her candor than her hair color as of late. The soccer star, who recently said she wants to be a fashion designer when she “grows up,” provides athletic inspiration on the field ― and an example of political courage off of it. But take a look at her style evolution, and you might find yourself finding sartorial inspiration, too. Rapinoe has rocked purple hair, pink hair and no shortage of hair accessories on the field. She makes dominating a match look cool, just as she looks when she’s off duty (hello, statement coat ). Ahead of the U.S. squad’s Women’s World Cup quarterfinal match against France on Friday, take a look back at Rapinoe’s many hairstyles, accessories, red carpet looks and more over the years. Rapinoe (center) in action during the 2005 NCAA Women's College Cup championship game between UCLA and the Unversity of Portland in College Station, Texas. Playing in a friendly match in Carson, California, in October 2006. During a match against the Washington Freedom in Washington, D.C., in June 2009. Getting ready for a training session in Frankfurt, Germany, in July 2011. Appearing with other members of the U.S. women’s national soccer on ABC's "Good Morning America" in New York in July 2011. During a match in Sydney, Australia, in October 2011. At Samsung's Annual Hope for Children gala in New York in June 2012. At the USA House at the Royal College of Art in London in August 2012. At the Los Angeles Gay & Lesbian Center's 41st Anniversary Gala And Auction in November 2012. During a game against Russia in Atlanta in February 2014. During an international friendly match against Mexico in Rochester, New ork in September 2014. At the annual SXSW conference and festival in Austin, Texas in March 2015. Pausing before a game against South Korea in Harrison, New Jersey, in May 2015. During a match against Australia during the FIFA Women's World Cup in Winnipeg, Canada, in June 2015. At a rally in Los Angeles in July 2015 celebrating her team's World Cup championship. At a pre-ESPY event in Los Angeles in July 2015. At the ESPYs in Los Angeles in July 2015. At the Country Music Association Awards in Nashville, Tennessee in November 2015. During a match against Thailand in Columbus, Ohio, in September 2016. During a match against Chicago in Bridgeview, Illinois, in June 2017. At the espnW Women + Sports Summit in Newport Beach, California in 2017. During a friendly match against Spain in Alicante, Spain, in January 2019. Warming up before a match against New Zealand in St. Louis in May 2019. During training in Harrison, New Jersey in May 2019. Posing for a portrait during the Women's World Cup competition earlier this month in Reims, France. Celebrating a goal during the World Cup match against Thailand on June 11. During the World Cup match against Spain on June 24. Related... Donald Trump Reacts To Megan Rapinoe's National Anthem Protest At World Cup U.S. Soccer Star Megan Rapinoe: 'I'm Not Going To The F**king White House' Ava DuVernay Invites Megan Rapinoe To Dinner After Her White House Visit Scoff Also on HuffPost Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost .
Scooters Help Europeans Dodge the Sweat After Launch in Germany (Bloomberg) -- E-scooters have only been legal in Germany for a matter of days, but public curiosity -- as well as a Continental heatwave -- has already made them a common sight in many cities. Lawrence Leuschner, chief executive officer of one of Europe’s biggest e-scooter providers, Tier Mobility, said the app required to locate and unlock a Tier scooter was downloaded hundreds of thousands of times in Germany during the first four days. Users in the country made a collective 300,000 kilometers of journeys on Tier scooters in that time, he said. “It helped us pass the three-million total worldwide rides milestone on Thursday,” he said in an interview. "We launched in 32 cities and we are profitable in our core markets, which have 90% of our fleet." Germany’s decision to legalize e-scooters last week came as Europeans fought to stay cool as a blast of hot air from the Sahara desert caused record temperatures in large parts of the continent. The country imposed speed restrictions on usually limit-free stretches of its highway network. Rather than deterring riders, the scorching temperature actually made the newly-legal scooters more attractive than some other forms of transport. Andreas Katzig, who rode one for the first time on Thursday in Munich, said that “compared to a bike, you’re not sweating. That’s a huge advantage in the summertime.” Katharina Rzepucha, also in Munich, said scooters are an alternative to running than public transport. “If I see something that’s a kilometer away, and I don’t want to run there, this is way better,’’ she said. Tier’s app overtook Facebook Inc.’s WhatsApp and Instagram, as well as Google Maps, YouTube, Spotify, Amazon, and Netflix, to become the most popular download in Apple’s German iOS app store this week, according to the iPhone-maker’s official charts. U.S. e-scooter giant Lime also broke into the top 10. Sweden’s Voi Technology AB, and Berlin-based Circ, launched in Germany this month as well. Demand for e-scooters in cities worldwide have helped the industry’s biggest players, such as Bird Rides Inc. and Lime, achieve multi-billion-dollar valuations in less than two years. Barclays analysts Kristina Church, Ryan Preclaw, and Ben McSkelly, wrote in a March report that “even at current cost per mile, we estimate an $800 billion revenue opportunity for micromobility operators in the near term. The addressable market could rise substantially.” However, no company has said it’s actually profitable. Deploying, replacing, and increasingly now designing scooters from scratch, involved enormous capital expenditure costs. The low cost of using a scooter, combined with copycat businesses springing up in quick succession, hasn’t made it easy for companies or investors to recoup early spending. The popularity of the U.S.-based frontrunners, fueled by the projected value of being a future market leader, caused a surge of companies to spring up in Europe over the past year. Bloomberg reported in February that Voi had held early-stage talks with Tier about a possible merger in order to remain competitive, but both remained independent and pursued fresh funding instead. Voi announced a $30 million round in March and launched its German operation earlier this month as well. Tier’s Leuschner said he was in the process of raising a new round of funding from venture capital firms, but declined to comment on how much he was looking to raise or at what valuation. “It’s going well though,” he said. Europe’s scooter companies are small compared to their U.S. rivals, with Bird reportedly already notching 1.8 million rides in Nashville alone. And some of Europe’s other leading economies still don’t have laws that permit the use of e-scooters. In the U.K., the lack of guidelines prompted the British government in May to open “the biggest regulatory review in a generation” of current legislation, some of which dates back to 1835. Another problem is also looming: Europe’s changing weather. "I would use it in the autumn as well," said Katzig. "Maybe not in the winter, I don’t know how they perform on ice and snow." Ben and James, two English tourists using scooters for the first time in Berlin, added that, if it were raining, "we probably wouldn’t be using them." There are about 120 days a year where it rains in Berlin, according to weather reports. For now, the heatwave is continuing, and several people have been stopped by police for stripping in public. “I haven’t heard of anyone riding our scooters naked though yet,” Tier’s Leuschner said. --With assistance from Sarah Syed. To contact the reporters on this story: Nate Lanxon in London at nlanxon@bloomberg.net;Oliver Sachgau in Munich at osachgau@bloomberg.net To contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Andrew Blackman For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
GRAPHIC-How U.S. LNG plays havoc with Dutch gas and Asian shipping By Sabina Zawadzki LONDON, June 28 (Reuters) - Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses. Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just under 30 euros per megawatt hour (MWh). On Friday, Dutch gas for July delivery slumped to 8.95 euros per MWh, the lowest since August 2009. The price falls are in part thanks to an influx of U.S. LNG supplies. But customers of Cheniere Energy, which dominates U.S. production, have been feeling the pain from their long-term commitments for months due to a fixed pricing formula. Cheniere sells its LNG at 115% of U.S. gas futures plus a liquefaction fee of between $3.00 and $3.50 per million British thermal units (mmBtu), with a few buyers paying less. At today's prices, Cheniere LNG costs around $5.61 per mmBtu with the liquefaction fee, compared to $3.19 per mmBtu paid for natural and regasified gas at the Dutch hub, a benchmark for European prices. Yet U.S. LNG is still being sold to Europe, which received between 30% and 50% of all U.S. supplies between January and May this year, Refinitiv Eikon shipping data shows. Traders say the liquefaction fee is a sunk cost for offtakers because it still needs to be paid even if they cancel purchases, a risk known years ago when sales and purchasing agreements were signed with Cheniere. Royal Dutch Shell is the largest Cheniere offtaker with a commitment of 5.5 million tonnes per year (mtpa), paying $723 million annually in liquefaction fees, according to Cheniere's filings with U.S. regulators. Spanish utility Naturgy, South Korean utility KOGAS and India's GAIL each take 3.5 mtpa, with Naturgy paying $454 million in annual fees and the other two $548 million, the filings show. Shell, Naturgy and KOGAS declined to comment. GAIL did not respond to a request for comment. Other companies have signed up to Cheniere's fifth train at the Sabine Pass terminal as well as new plants at Corpus Christi, which are ramping up production. Because of Cheniere's flexible destination clauses, buyers take the LNG and sell onwards to others or deliver it themselves to countries around the world. Traders say for price dynamics to batter deliveries into Europe, the spread between 1.15 times Henry Hub prices and European benchmarks would have to be too low to cover the variable costs of shipping across the Atlantic and regasification at terminals. That spread narrowed to below a dollar per mmBtu in mid-May for the first time since a brief dip beneath that level in 2017, Refinitiv data and Reuters calculations show. It has since stayed there consistently, barely covering shipping costs at the start of June. Regasification costs, not disclosed publicly, can reach 20 cents per mmBtu in Iberia and even higher at floating terminals, although companies that have booked long-term capacities are likely to pay lower rates. It has helped that U.S. Henry Hub prices are also weak, slumping to a three-year low last week at $2.159 per mmBtu as clement weather and record-breaking shale production boosted inventories. Benign Asian LNG demand, starting last winter, has been a major factor behind Europe taking so much LNG. As Asian LNG prices fell with demand, the arbitrage between the Atlantic and Pacific basins disappeared, compounding the impact on Europe. In mid-July however, spot purchases of LNG will begin to focus on September deliveries, which is conventionally the beginning of rising Asian demand as Japan, South Korea and China start building stocks for winter. European pipeline gas prices also tend to rise with the onset of winter. Nevertheless, the seasonal pick-up may be weighed down by continuing bearish factors - rising supplies from new or expanded plants, stubbornly high gas stocks across the world and, in Asia, demand dented by economic headwinds. (Reporting by Sabina Zawadzki; Additional reporting by Jane Chung in Seoul; Editing by Jan Harvey and Dale Hudson)
Period pain: don't let it stop you exercising Jacob Lund/Shutterstock Girls and women experiencing period pain often avoid physical activity, but our latest study suggests that doing exercise might actually provide pain relief. Period pain affects around 90% of women. It can interfere with daily life by limiting activity – and is a common reason for being absent from school or work. During the menstrual period, the womb contracts to help expel its lining. Fatty substances called prostaglandins trigger these contractions. And more prostaglandins mean more severe cramps. Cramps usually occur at the start of a menstrual period – or just before – and may continue for two to three days. In addition to pain, symptoms can include nausea, vomiting, tiredness, back pain, headaches, dizziness and diarrhoea. Most women rely on over-the-counter drugs for pain relief, including ibuprofen (an anti-inflammatory) and paracetamol (an analgesic). Doctors can also prescribe oral contraceptive pills to decrease pain and relax the muscles. However, these drugs don’t provide everyone with pain relief and – like all drugs – they have side effects. Physiotherapy is also sometimes recommended as a treatment for period pain. When we reviewed the evidence of physiotherapy we found single trials to support the use of heated abdominal patches, TENS (an electronic device that emits a mild electric current) and yoga. Acupuncture and acupressure, when compared with a placebo, weren’t found to be effective. Lack of evidence When conducting our review, we didn’t find a single trial that looked at exercise as a therapy for period pain, so we conducted our own . We recruited 70 women who regularly experienced period pain and randomly allocated them to an aerobic exercise group or a control group (they managed their pain as they normally would). Pain was measured on a scale ranging from zero (no pain) to 100 (unbearable pain). At the start of the study, women in both groups experienced moderate pain (60, on average). But, at the end of the seven-month trial, women in the exercise group reported mild pain – 22 points less than women in the control group. Experts consider a 20-point reduction in pain to be “ clinically important ”. Story continues The women in the exercise group also experienced a statistically significant improvement in their quality of life and their daily functioning, such as going to work or climbing stairs. Exercise has what is known as a “ dose response ”: the more you do, the greater the health benefits. We do not know yet if this also applies to period pain. For our study, we prescribed aerobic exercise at 70-85% of women’s highest heart rate for 30 minutes, three times a week, with appropriate warm-up and cool-down exercises. This is pretty intense. It might be possible that pain relief could be achieved with exercise at a lower “dose”. Exercise may have a dose response. Monkey Business Images/Shutterstock The findings from a recent pilot study conducted in Hong Kong chime with our own. Researchers found that women who exercised had decreased prostaglandin and pain compared with women who did not exercise. The researchers are now planning a bigger study to confirm these findings. All these findings suggest that, rather than avoiding PE or the gym, girls and women might want to consider getting involved to see if they provide some pain relief. After all, there’s nothing to lose. This article is republished from The Conversation under a Creative Commons license. Read the original article . The Conversation The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Late-Night TV Hosts Have A Field Day With Second Democratic 2020 Debate Thursday’s second Democratic 2020 debate once again gave late night television comedians lots to joke about. “The Daily Show” host Trevor Noah riffed on O.J. Simpson’s bizarre Twitter preview and explained why Trump was “not totally wrong” with his “BORING!” summary of Wednesday’s first contest: “The Late Show” host Stephen Colbert poked fun at the technical difficulties endured by NBC and Chuck Todd’s moderation skills. Seth Meyers of “Late Night” compared “how polite” and “truthful” the Democratic debates were in comparison to the GOP presidential debates, involving President Donald Trump in 2015. “The Tonight Show” host Jimmy Fallon got into character as former Texas Rep. Beto O’Rourke, Sen. Bernie Sanders (I-Vt.) and Trump: Love HuffPost? Become a founding member of HuffPost Plus today. He later summarized the debates in a rap with The Roots’ Tarik Trotter: “The Daily Show” also live-tweeted throughout the debate: FUN FACT: The candidates debating tonight are running for President, a job first created for the 1997 Harrison Ford action thriller Air Force One. #DemDebate — The Daily Show (@TheDailyShow) June 28, 2019 FUN FACT: The plural of Buttigieg is Buttigi. #DemDebate — The Daily Show (@TheDailyShow) June 28, 2019 Achievement Unlocked: OHHHHHHHH #DemDebate2 pic.twitter.com/MjlklPsL0p — The Daily Show (@TheDailyShow) June 28, 2019 "Candidates, by show of hands: How many of you have no idea who the woman on the end is?" #DemDebate2 pic.twitter.com/plbDAg9qJd — The Daily Show (@TheDailyShow) June 28, 2019 Wanna feel old? Here's what the cast of Two and a Half Men looks like today #DemDebate2 pic.twitter.com/gfwhQkb1vm — The Daily Show (@TheDailyShow) June 28, 2019 MODERATOR: In one or two words, what would your first act as President be? BERNIE: Special interests KAMALA: Immigration MARIANNE WILLIAMSON: I was reading a wonderful article in GOOP about New Zealand, — The Daily Show (@TheDailyShow) June 28, 2019 #DemDebate2 ... YOU just got Swalwell'd! pic.twitter.com/17sgN78DPr — The Daily Show (@TheDailyShow) June 28, 2019 As did “Full Frontal with Samantha Bee .” Story continues That countdown was like Dick Clark's Rockin' New Years' Eve, but somehow older and whiter. #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 The is the weirdest episode of The Good Place. #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 Sanders to Biden: “Listen, young man...” #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 Sanders to Biden: “Listen, young man...” #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 Yang is going to pay for universal basic income with all the money he saved by not wearing a tie. #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 Marianne’s crystals will be glowing blood red by 9:30 #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 "A show of hand's question." The bedrock of democracy. #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 Bernie can see Canada’s healthcare system from his house! #DemDebate2 — Full Frontal (@FullFrontalSamB) June 28, 2019 #DemDebate2 candidates as hand emojis Gillibrand:🙋‍♀️ Harris:✋🏽 Buttigieg:🤘 Williamson:🤷‍♀️ Bernie:💁‍♂️ Biden: 🤙 Yang: ✋ Hickenlooper: ✋ Bennet:✋ Swalwell:✋ — Full Frontal (@FullFrontalSamB) June 28, 2019 When you’re both ready for the date to be over and want the check. #DemDebate2 pic.twitter.com/nDIMDyECq2 — Full Frontal (@FullFrontalSamB) June 28, 2019 #DemDebate2 pic.twitter.com/sUV1HygSAa — Full Frontal (@FullFrontalSamB) June 28, 2019 “So there I was, completely unqualified…" #DemDebate2 pic.twitter.com/ZFdA7jIC5v — Full Frontal (@FullFrontalSamB) June 28, 2019 We made another graph. #DemDebate2 pic.twitter.com/OlPNc1IajM — Full Frontal (@FullFrontalSamB) June 28, 2019 Can’t wait for them to come out from behind the podiums and do some triple axels! #debatesonice #DemDebate2 pic.twitter.com/ak3ykLqwWQ — Full Frontal (@FullFrontalSamB) June 28, 2019 Our wish: when they return from break everyone is tie-less and exasperated and Yang is wearing all of their ties and the crowd is going nuts and we never find out what happened. #DemDebate — Full Frontal (@FullFrontalSamB) June 28, 2019 Looking forward to it! #DemDebate3 pic.twitter.com/s9lXVgPm0J — Full Frontal (@FullFrontalSamB) June 28, 2019 Related... The Funniest Late-Night TV Takes On The First 2020 Democratic Debate Eric Trump's Hot Takes On Democratic 2020 Debate Blow Up In His Face Donald Trump Shares Strange Fake Video Of Himself Gate-Crashing Democratic 2020 Debate John Delaney Having Zero Fun On A Giant Slide Is The Newest 2020 Debate Meme Also on HuffPost This article originally appeared on HuffPost .
Most Small Businesses Are Growing, but Many Aren't Hiring Small businesses have generally done well over the past year. Nearly 8-in-10 (79%) reported that revenue grew in 2018, while only 4% said it fell, according to Scalefactor's inauguralState of Small Business finance report(registration required). Scalefactor surveyed 500 small U.S. business owners (less than 500 employees) in April and May to get a sense for the current state of small business finances. Despite the company growth, half of the business owners surveyed said they had no plans to hire anyone over the next 12 months. That's not always because they don't want to add workers. The study showed that a number of other factors stopped companies from adding workers. Finding workers to hire may require getting creative. Image source: Getty Images. Survey respondents cited salary costs as the top reason to not hire four times more than any other reason. That was followed by skills shortage, healthcare costs, and the competitive labor market. And while the labor market may be the thing employers can do the least about, they can work to make their companies as attractive to potential employees as possible. "It is more important now than ever for SMBs to be the best employer and provide the best place to work for their employees," said ScaleFactor CEO Kurt Rathmann in an email statement to The Motley Fool. "We have seen investments in workplace intangibles over investments in increased payroll make a positive impact on employee retention of our small business customers. When employee experience is of utmost importance, there are only good outcomes." In a tough hiring market, small business owners need to cast awider net. That may mean being more open to non-traditional hires -- part-timers, people on flexible schedules, or workers with the right skills who don't have degrees. If the people you need are too expensive or simply not available, it's important to find other paths to talent.Hiring internsand essentially training your own future workforce might also be a smart place to start. "Small businesses are able to scale in new ways, which provides them with new opportunities for growth and the ability to succeed without having to fall back on the traditional hiring methods and markers of success," said Rathmann. The labor market has gotten tight, but there are plenty of people who need jobs and have skills that aren't getting hired. Hiring the right people, or even finding them, sometimes means dropping traditional metrics or looking outside the box. Some people, for example, have the needed skills but interview poorly. Those workers traditionally struggle to get hired. As a manager or business owner, you can tap those resources. Consider working with candidates on a short-term or project basis to see if they fit well with your company even if they don't present well during the traditional hiring process. It may also make sense to scrap the interview process altogether and spend time getting to know candidates. A small business does not need to follow tradition or abide by any of the hiring rules that bigger companies use. Find candidates that may not fit elsewhere and figure out how to best use those resources. That should result in your company getting the workers it needs at an affordable price, workers who will be loyal to your company and appreciative of you being willing to work outside of how things are generally done. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market The Motley Fool has adisclosure policy.
UK firms stockpile £6.6bn of goods in run-up to Brexit UK warehouses filled up in the run-up to 31 March. Photo: AP Photo/Alastair Grant British firms stockpiled an estimated £6.6bn of goods when the UK still planned to leave the EU on 29 March, new figures show. The UK saw a “substantial increase” in levels of stock held by companies in the first three months of 2019, according to figures released on Friday by the Office for National Statistics. The ONS highlighted a recent survey in which firms said Brexit uncertainty was a key reason for stockpiling, amid fears of delays, shortages or price hikes for imported goods if Britain left without a deal. READ MORE: Firms fear departure of key UK official could ‘destabilise’ government no-deal Brexit plans Analysis by Yahoo Finance UK suggests firms were building up £519m of stock every week in the three months leading up to the planned departure. The deadline was delayed as parliament refused to back the government’s deal with the EU, with prime minister Theresa May requesting a delay after failing to secure support for any alternative route to Brexit. British Prime Minister Theresa May at the first working session of the G20 Summit in Osaka, Japan. READ MORE: No-deal Brexit could spark ‘flurry of profit warnings’ from UK firms The ONS said in its quarterly economic survey: “There has been much interest in the extent to which stockbuilding has been taking place in the UK, which would be recorded under changes in inventories. “The underlying data show a substantial increase of £6.6 billion in stocks being held by UK companies in the most recent quarter. “The latest decision maker panel survey finds that uncertainty has played a role in the increase in stocks held by businesses, as those respondents that reported Brexit was an important source of uncertainty for their business were much more likely to have increased stocks than firms who saw Brexit uncertainty as less important.” Some economists have suggested firms’ build-up of stock was so significant it gave a temporary boost to GDP. Growth dipped by 0.4% in April, which the ONS said reflected “the unwinding of the build-up of stocks by businesses earlier in the year and earlier-than-usual shutdowns by car manufacturers in April.” Story continues READ MORE: Three-quarters of warehouses running out of space in run-up to Brexit The figures only show stockpiling from 1 January onwards, suggesting the real levels could be even higher. A survey of UK warehouse owners in mid-January showed three-quarters of warehouses were already full. The UK Warehousing Association found a shortage of space around big cities as companies prepared for enormous disruption to supply chains from a possible no-deal departure. Firms and the government have been forced to step up planning once again ahead of a new likely departure date of 31 October. Frontrunner Boris Johnson has said Britain will leave “come what may” on that date, increasing the risk of severe economic damage through a possible no-deal exit. READ MORE: Japan warns Boris Johnson and Jeremy Hunt to avoid no-deal
Piers Morgan defends Amanda Holden as her 'feud' with Phillip Schofield continues Piers Morgan described Amanda Holden as 'one of the most genuine people' in show business while appearing on Heart FM's Breakfast show on Thursday 27 June (Ian West/Getty) Piers Morgan has described Amanda Holden as “one of the nicest people” in show business amid rumours that the latter is part of an ongoing feud with ITV veteran Phillip Schofield. The notoriously outspoken Good Morning Britain host appeared alongside Holden during her and Jamie Theakston’s Heart FM Breakfast Show on 27 June. After describing her as a good pal, a listener tweeted him to say: “Good for you Mr Morgan. Read more: Piers Morgan and Amanda Knox in furious spat over interview snub “At a time when Amanda is getting such a lot of unnecessary criticism for being honest, it’s good to see she has some genuine friends.” “Trust me, Amanda Holden is one of the nicest & most genuine people in this tawdry business,” Morgan - who became close to Holden when they worked together on Britain’s Got Talent - replied. “And I’ve met most of them..." Trust me, @AmandaHolden is one of the nicest & most genuine people in this tawdry business - and I’ve met most of them... https://t.co/6VdGauV2og — Piers Morgan (@piersmorgan) June 27, 2019 According to reports, Holden first clashed with Schofield back in October 2018, when the latter allegedly influenced This Morning producers to replace her with Rochelle Humes. “Amanda was so excited when she learnt she had secured the role,” a source told The Sun at the time. "She is ITV’s golden girl and has always been a firm favourite. “She’s an experienced co-host and has filled in on the sofa on many occasions, including alongside Phil. So she was shocked when she was taken out to lunch by ITV executives who told her that unfortunately they couldn’t follow through with the offer.” Amanda Holden used to cover for regular presenter Holly Willoughby on 'This Morning'. (ITV/YouTube) Holden supposedly reignited the feud during a breakfast show recording a couple of weeks ago, when she compared Schofield to a household pest on air . Story continues Just recently, Schofield took to Twitter to seemingly address the ongoing spat, writing: “The end of another really sad weekend. When you try for 35 years to be the easiest, most fun person to work with and you read such hurtful and wildly untrue stories from nameless ‘sources’. “Obviously I’ll take it on the chin.. I just hope you know me better.” Read more: Phillip Schofield branded 'arch manipulator' in thick of Amanda Holden feud During Morgan’s radio stint, Holden revealed why she’d never appear on Piers Morgan’s Life Stories, an in-depth interview series that sees a particular famous face receive a serious probing from the host. "You already know my life story, you splashed it across the papers,” she joked, referring to the time that Morgan was the editor of the Daily Mirror and published numerous stories about her tumultuous relationship with first husband Les Dennis.
Oil Price Fundamental Daily Forecast – Major Players on Sidelines Ahead of Trump-Xi, OPEC Meetings U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are edging lower on Friday with most of the major players on the sidelines ahead of this weekend’s meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Osaka, Japan. To a lesser extent, traders are also anticipating the start of the OPEC meeting in Vienna on July 1-2. At 09:27 GMT,August WTI crude oilis trading $59.16, down $0.27 or -0.47% andSeptember Brent crude oilis at $65.34, down $0.33 or -0.47%. As far as the Trump-Xi meeting is concerned, traders are not looking for any major developments. It’s possible that both leaders agreed to the meeting just to gauge the temperature of each side. However, stranger things have happened before. In early December, for instance, both sides agreed to begin trade negotiations after holding a meeting at another G-20 summit. Earlier in the week on Wednesday, Treasury Secretary Steven Mnuchin said that the U.S. was close to reaching a deal with China before negotiations fell apart in May, and expressed optimism about the potential for a deal in the future. “We were about 90 percent of the way there and I think there’s a path to complete this,” Mnuchin said in an appearance on CNBC. Trump also added that a trade deal with Chinese President Xi was possible this weekend but he is prepared to impose an additional $300 billion of U.S. tariffs on most remaining Chinese imports should the two economic powerhouses continue their trade spat. OPEC and its allies are widely expected to extend the program to cut production, trim the excess supply and stabilize prices until the end of the year. The program has been working so far this year. On January 1, OPEC and other major producers including Russia began cutting 1.2 million barrels per day. As far as this meeting is concerned, traders want to know if the cartel and its friends are considering deeper production cuts. This would be a bullish develop. The tensions between the United States and Iran seem to have taken a backseat to the G-20 summit and the OPEC meeting. Tensions have eased a little since the U.S. announced last week-end it was prepared to negotiate. We’re expecting more sideways action today as traders position themselves ahead of this weekend’s developments. Thisarticlewas originally posted on FX Empire • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/06/19 • Oil Price Fundamental Weekly Forecast – Generally Bullish Tone on Optimism Over Trade Deal; OPEC to Continue Production Cuts • LTC No Longer Correcting for Now • The Crypto Week – Bitcoin Leads the Way as Volatility Grips the Majors • The Week Ahead: Market Reaction to the G20 Summit and Iran to Influence • Crude Oil Underpinned by Geopolitics, Gold Pressured by Rate Concerns, Natural Gas Bulls Hoping for Heat
What the 2020 Democratic Candidates Didn’t Say During the Second Debate The second night of NBC’s Democratic debates brought ten new candidates to the stage, including former Vice President Joe Biden, Sen. Bernie Sanders, and Sen. Kamala Harris. The 2020 Democratic hopefuls ignited a fierce debate over issues such as Medicare for All, income inequality, and institutional racism, each vying to be seen as the most qualified to take on President Donald Trump and win the White House. While the moderators made sure to hit major subjects such as climate change, education, and immigration, not every topic made the agenda. These are the subjects the 2020 Democratic candidates neglected to address during the second debate. During the first debate, NBC’s moderators asked the candidates if they believed pharmaceutical companieslike Purdueshould be held criminally responsible for their role in the opioid epidemic (both Sen. Cory Booker and former congressman Beto O’Rourke said yes). On Thursday, however, the crisis that has killed over 45,000 Americans was not mentioned on the debate stage. Candidates instead focused on the broader issue of healthcare and debated the potential affects of a Medicare for All implementation. Several of the candidates addressed the need to take on big pharma in terms of prescription drug prices, but opioids were left off the table. The idea of a tax on the country’s richest individuals has been discussed most prominently by Sen. Elizabeth Warren, another 2020 candidate, but Sanders has a similar plan: an increased estate tax. Sanders has proposed anexpanded estate taxof up to 77 percent on the value of estates above $1 billion. Despite this, neither a wealth tax nor an estate tax was not discussed on either debate night. The second round of candidates frequently addressed income inequality and the need to get money out of politics, but focused on corporations instead of specific individuals. Sen. Kirsten Gillibrand, for example, promoted her plan for publicly funded elections, which would prevent corporate interests from buying the loyalty of elected officials. Being that the two candidates with specific trillion-dollar infrastructure plans—Sen. Amy Klobuchar and former congressman John Delaney—were present for Wednesday night’s debate, it’s less unreasonable for the subject of infrastructure to be lacking from Thursday night. Still,more than halfof rural Americans say access to high-speed internet is a problem, and any candidate hoping for their vote will likely have to address this gap in broadband eventually. The fact that the special counsel’s report wasn’t mentioned Thursday night could show more about the moderators than the candidates. Moderators asked Wednesday night’s candidates how they would address President Donald Trump’s potential crimes outlined in the report; both O’Rourke and Delaney said Trump is not above the law, but Delaney added that the Mueller report is not at the forefront of the minds of the American people. “This is not the number one issue the American people ask us about,” Delaney said of his experience on the campaign trail. “They want to know what we’re going to do for healthcare, how we’re going to lower pharmaceutical prices, how we’re going to build infrastructure.” Neither the moderators nor the candidates mentioned former special counsel Robert Mueller on Thursday night, but that doesn’t mean the contenders had nothing to say about Trump. Instead of focusing of potential prosecutions, however, the candidates were more interested in the way the current president has changed immigration policy and altered U.S. standing in the world. —Harris has a strong showing, stuns Biden on night 2 of Democratic debate —Democratic debate night 1: what we learned from each candidate —2019Democratic debate night 1: Highlights —2019Democratic debate night 2: Highlights —Fact-checkingclaims from night 1 of the Democratic debate —Fact-checkingclaims from night 2 of the Democratic debate
KKR’s Henry Kravis Invests in Crypto Fund (Bloomberg) -- Henry Kravis is the latest titan of finance to take a shot at cryptocurrencies. The co-founder of KKR & Co. has invested in the flagship fund of ParaFi Capital of San Francisco, according to Ben Forman, a former employee who started his firm last year to focus on digital assets. A spokeswoman for Kravis, 75, declined to comment. Kravis joins a handful of bold-faced names who have defied mainstream skepticism to channel some of their billions into virtual currencies or the underlying blockchain technology. They include Alan Howard, Louis Bacon and Peter Thiel. “In the high-yield markets, I used to fight to outperform the index by tens of basis points,’’ Forman said in an interview. “Crypto, on the other hand, due to its nascency, offers a tremendous amount of alpha to active managers.’’ ParaFi manages about $25 million and aims to reach $100 million by the first quarter of 2020, said Forman. Forman, who joined KKR in 2015, worked in the credit business there and at TPG, another private-equity giant. In addition to his main responsibilities covering debt investments, Forman led KKR’s in-house research on blockchain and crypto and left the firm last year. “While I toyed with the idea of pursuing blockchain investing within KKR, it was clear to me that the firm did not provide the optimal format to do so,” said Forman. “Instead of pursuing crypto at KKR, I wanted to build the KKR of crypto.” Bain Capital Ventures and Dragonfly Capital Partners are among other investors in ParaFi’s fund, and the duo have also invested in ParaFi’s management company. Salil Deshpande, a partner at Bain Capital Ventures in Palo Alto, California, said some liquid crypto assets “present asymmetric return opportunities’’ and ParaFi is “well positioned to capitalize on some misunderstood investment opportunities.’’ To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.net To contact the editors responsible for this story: James Hertling at jhertling@bloomberg.net, Patrick Henry For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
The Chemours Company- A Teflon Buyback The Chemours Company ( CC ) — the maker of Teflon — is a materials science company that is a spinout of DuPon, explains David Fried , editor of the specialized advisory service, The Buyback Letter . This global chemistry company went public in 2015. Chemours is a leader in titanium technologies, fluoroproducts and chemical solutions. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining, and general industrial manufacturing. Flagship products include prominent brands such as Teflon, Ti-Pure, Krytox, Viton, Opteon, Freon and Nafion. The company has about 7,000 employees and 28 manufacturing sites serving some 3,700 customers in over 120 countries. Chemours HQ is in Wilmington, Delaware. More from David Fried: SXT Eyes Energy Storage for Renewables Chemours' top product is white pigment titanium dioxide. A versatile chemical that is used in everything from cosmetics to animal feed, titanium dioxide has the most use as a white pigment in paint. So when industries that use a lot of white paint — automotive and construction industries, for example — are doing well, TiO2 prices and sales rise. Conversely, when the automotive and construction industries falter, TiO2 prices go down and companies selling TiO2 suffer. Chemours' had big stock gains in 2016 and 2017 when automotive and construction markets were hot, and TiO2 demand outstripped supply. Chemours charged more for its signature product, and the company’s net income soared nearly 400% on a trailing 12-month basis. Those two markets cooled in 2018, so demand is down (until the next cycle begins). Chemours has been in the news lately as it has shouldered a bulk of the legal burden stemming from DuPont's production of a class of chemicals known as PFAS, types of which have been found to cause serious health issues in humans including cancer, and the subsequent contamination of drinking water near production facilities. Story continues In 2017, DuPont and Chemours said they would pay $671 million to settle claims that Teflon production in West Virginia leaked PFAS into local ground water and caused thousands of residents’ health issues, including cancers. Chemours faces a new round of lawsuits from states seeking to force the company to pay for removing PFAS from contaminated sites and drinking water. New Jersey and New Hampshire have filed suit, and residents of Delaware are filing a separate lawsuit over PFAS contamination. See also: Plaehn's Pipeline Picks for Rising Yields Shares of Chemours fell 40% in May after disappointing operating results. Analysts believe ramp-up delays from a new manufacturing facility in Texas should be short-lived, and observe that it is not unusual for large, complex chemical manufacturing facilities to encounter unique obstacles during start-up and ramp-up activities. Management is confident the facility can get back on track in the coming quarters, which will be important because the U.S.-based facility is expected to significantly lower costs compared to production in Asia. Chemours shook up the top office earlier this month by promoting its CFO to COO, and hiring a new CFO. The company had $261 million of share repurchases in the first quarter. Shares outstanding have been reduced by 7.84% in the last 12 months. More From MoneyShow.com: CFRA Research: A Bullish Look at Gold Four All-Weather Stocks for the Next Bear Market Two Funds for Value Investors Amazon is Moving in to This REIT's Neighborhood
Federal court to hear 'Pharma Bro' Martin Shkreli's appeal By Brendan Pierson NEW YORK, June 28 (Reuters) - Lawyers for former pharmaceutical executive Martin Shkreli will urge a federal appeals court on Friday to overturn his criminal conviction for defrauding investors in hedge funds he founded. Shkreli, 36, was found guilty of securities fraud and conspiracy in August 2017 by a federal jury in Brooklyn. His lawyers have argued in court filings that the verdict must be overturned because the jury received improper instructions. They are expected to argue their case before a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan shortly after 10 a.m. (1400 GMT) Shkreli, who was sentenced to seven years in prison in March 2018 by U.S. District Judge Kiyo Matsumoto and is at a federal prison in Pennsylvania, is not expected to appear himself. Shkreli, born in Brooklyn to Albanian immigrant parents, became nationally known after founding Turing Pharmaceuticals, buying the anti-parasitic drug Daraprim and raising its price by 5,000 percent, to $750 per pill. The move brought him the nickname "Pharma Bro" and drew criticism from activists and legislators. Shkreli was indicted in December 2015 on fraud charges related to two hedge funds and a drug company he had founded years before Turing. He was ultimately convicted of defrauding investors in the funds, MSMB Capital and MSMB Healthcare, by sending them fake account statements and concealing huge losses, and of scheming to prop up the stock price of the drug company, Retrophin Inc . In addition to his prison sentence, Shkreli was ordered to forfeit more than $7 million. Shkreli's lawyers said at his trial that he never intended to take investors' money, and in fact ultimately paid them back. In papers filed with the 2nd Circuit, the lawyers argued that the jury should have been told that, for Shkreli to be guilty of securities fraud, he must have made false statements "for the purpose of causing some loss to another." Prosecutors countered in a filing that the securities law required no such instruction. Retrophin fired Shkreli in 2014, and later filed a $65 million lawsuit accusing him of breaching his duty of loyalty to the company. Shkreli filed a $30 million lawsuit against three of his former Retrophin colleagues last month, accusing them of wrongfully forcing him out. Retrophin announced earlier this month that both lawsuits had been settled. (Reporting by Brendan Pierson in New York; editing by Jonathan Oatis)
Medtronic- Pacemakers to Surgical Robots Medtronic(MDT) was founded in Minneapolis in 1949 as a medical equipment repair company. It is now the world’s largest medical device company, headquartered for tax reasons in Dublin, explainsAdam Mayers, editor ofAdam Mayers Investing. It gets 60% of its sales and profits outside the U.S. and employs 86,000 people in 140 countries. More than 10% of its employees are research scientists, which ensures a steady stream of new products. More from Adam Mayers:Kiosks to UberEats Boost Big Mac Medtronic operates in four segments. Cardiac and Vascular makes heart management devices, including pacemakers and defibrillators (38% of sales). The Minimally Invasive Therapies group makes stapling and wound closure products as well as devices for imaging and neurological problems (29%). Restorative Therapies makes robots, implants, and tools for conditions relating to the musculoskeletal system and brain (26%). The Diabetes group makes insulin pumps and other consumables (7%). Medtronic shares hit a record of $100.15 in September 2018 and then retreated during the year-end market sell-off. They bottomed out in April at $84 and have recovered since. Year-to-date the shares are up 3.79%. On May 23, Medtronic reported its 2019 fiscal year-end. Performance beat expectations. Annual revenues were $30.56 billion, up 5.5% on an organic basis. Net earnings were $4.63 billion or $3.41 per diluted share. In the fourth quarter, U.S. sales rose 2.3% year-over-year, while other developed markets rose 1.7% when using a constant exchange rate (CER).  Emerging market revenues, which are now 16% of the total, rose 12% when using a CER. See also:Plaehn's Pipeline Picks for Rising Yields The fourth quarter performance was led by the Restorative Therapies group, which includes its surgical robots. IBM Watson Health and Medtronic worked together to create a mobile app to help track patient data and better manage diabetes. Credit: Medtronic In May, Medtronic announced a deal to buy Titan Spine Inc., a privately held Wisconsin company that makes a line of titanium implants for spinal surgery. The implants are spacers that are inserted between the vertebrae during spinal fusion surgery to relieve pressure on nerves and hold the vertebrae in place. The purchase complements its earlier acquisition of Mazor. Medtronic is a dividend aristocrat, having increased its payment for 41 years in a row through 2018. The last increase was in April 2018. The $2 annual rate yields 2.15% at current prices. Medtronic has a market capitalization of $124.7 billion and a trailing 12 months p/e ratio of 17.74, which is below most of its peers. It continues to grow organically and its investment in R&D through its scientific staff is a hidden asset. The trends of first world aging and emerging market growth will continue with the former needing more procedures and the latter able to afford more. Medtronic is poised to profit from these tailwinds, offering investors rising dividends, safety and growth. More From MoneyShow.com: • CFRA Research: A Bullish Look at Gold • Four All-Weather Stocks for the Next Bear Market • Two Funds for Value Investors • Amazon is Moving in to This REIT's Neighborhood
Bear Of The Day: FedEx (FDX) FedEx (FDX) has lost more than 30% of its value over past 52-weeks with international headwinds being the key catalyst for this decline. FedEx just released an earnings beat earlier this week but management’s guidance for its largest segment, FedEx Express, was softer than expected. Analysts have significantly reduced EPS estimates for 2020 and 2021, pushing FDX to a Zacks Rank #5 (Strong Sell). FedEx Corporation price-consensus-chart | FedEx Corporation Quote TNT Acquisition & FedEx Express The TNT Express acquisition in 2016 for $4.4 billion was meant to expand FedEx’s international presence to rival top competitor, UPS (UPS), who has already established global distribution. FedEx Express, which includes TNT, is now able to service 220 countries making up 99% of the world GDP. Weaker than expected international growth over the past year or so, along with some systemic cost concerns, have been dragging FedEx down with TNT. FedEx Express isn’t producing the same top-line growth that it anticipated with soft European and Chinese output. This segment saw a 7% year-over-year decline in operating income as revenues and margins are pinched. FedEx Express makes up over 50% of the firm’s top-line but its low profitability is shrinking the business’s overall margins. In FDX’s earnings release earlier this week, management voiced their uncertainty about this segments future performance, lowering their 2020 guidance, and pointing to global economic slowdown and trade disputes as the cause for concern. Amazon Effect & Broader E-Commerce FedEx announced earlier this month that it would not be renewing its US air delivery contract with Amazon (AMZN) and emphasized how little they rely on them for their top-line, quoting that Amazon only makes up about 1.3% of revenues and are not concerned about Amazon’s in-house delivery. For a company that is stressing the importance of growing their e-commerce exposure, this is a very precarious move, with Amazon controlling almost 50% of the US e-com market. FedEx continues to lose e-commerce market share to UPS. UPS deals with more than 20% of Amazon’s volume and makes up more than 50% of the US e-com market. FedEx needs to rethink its e-com strategy if it is going to make it a “focal point” of its business model moving forward. Other Risk Factors FedEx runs the largest fleet of cargo aircrafts in the world. It is extremely capital intensive to keep these planes in the air, not to mention the volatile jet fuel costs that are associated with it. FedEx’s fuel exposure poses some risks for the firm as fuel prices rise. The capital needed to maintain this excessive air fleet might not be available if the economy were to turn south, which is on all investor’s radars with the looming trade disputes and weak global growth figures. Take Away I wouldn’t be putting a short position on FedEx quite yet, but I would limit my exposure. FDX is being traded at very low multiples but for a good reason. The uncertainty in FedEx’s largest segment is cause for concern and could weigh heavily on the business’s future earnings. With slowing international business output, a decrease in FedEx Express’s volume is inevitable. Their net margins are shrinking fast, currently sitting below 1% and it will not take much for that to tilt negative. Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of+98%,+119%and+164%in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportUnited Parcel Service, Inc. (UPS) : Free Stock Analysis ReportFedEx Corporation (FDX) : Free Stock Analysis ReportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Trump and Putin Joke About Election Meddling At G20 With a smirk and a finger point, President Donald Trump dryly told Russia’s Vladimir Putin “Don’t meddle with the election” in their first meeting since the special counsel concluded that Russia extensively interfered with the 2016 campaign. The tone of the president’s comment, which came after a reporter asked if he would warn Putin, was immediately open to interpretation. But it would seem to do little to silence questions about Trump’s relationship with Russia in the aftermath of special counsel Robert Mueller’s conclusion that he could not establish a criminal conspiracy between Trump’s campaign and Russia. It was the latest remarkable moment for Trump at Putin’s side after meeting nearly a year ago in Helsinki, considered one of the defining days of Trump’s presidency, when he pointedly did not admonish Putin over election interference and did not side with U.S. intelligence agencies over his Russian counterpart. The leaders traded brief remarks Friday, the first time they sat together since Helsinki, about issued they planned to discuss when a reporter shouted to Trump about warning Putin “not to meddle” in the 2020 election. The president answered “Of course,” then turned to Putin and facetiously said, “Don’t meddle in the election.” He playfully repeated request while pointing at Putin. Putin laughed. Trump said he enjoyed a “very, very good relationship” with Putin and said “many positive things are going to come out of the relationship.” The meeting with Putin, which came amid a gauntlet of negotiations on international crises, trade wars and a growing global to-do list, was the main event on Trump’s agenda Friday at the G20 summit in Osaka. But the president also kept an eye on the race to replace him back home, where 10 Democrats met in Miami as part of the first debates of the 2020 presidential race. “I just passed a television set on the way here. I saw that health care and maximum health care was given to 100% of the illegal immigrants coming into our country by the Democrats,” Trump said, telling German Chancellor Merkel during their meeting that a debate the previous night “wasn’t very exciting.” “So I look forward to spending time with you rather than watching,” he said. Merkel did not react. Later, while meeting with Brazil’s president Jair Bolsonaro, Trump segued from a discussion on the crisis in Venezuela to declare he had heard a rumor that the Democratic Party will change its name to the Socialist Party. “I’m hearing that, but let’s see if they do it,” Trump said. There have been no such rumors. Trump had said in advance of meeting Putin that he expected a “very good conversation” but told reporters that “what I say to him is none of your business.” The official White House readout released after the meeting did not mention interference. Though the meeting occurred in the early morning hours back in the United States, some were quick to denounce the president’s comments. Michael McFaul, who was U.S. Ambassador to Russia under Barack Obama, tweeted that he found Trump’s conduct “depressing.” “Trump’s admiration and appeasement of Putin is so bizarre,” he wrote. “I can’t think of one concrete U.S. interest that has been advanced by Trump’s behavior.” White House aides had grown worried that Trump could use the meeting to once again attack the Russia probe on the world stage, particularly since Mueller recently agreed to testify before Congress next month, he did not utter the special counsel’s name. Senate Democratic leader Chuck Schumer had pressed the president to directly challenge the Russian leader on election interference and send a signal “not merely to Putin but to all of our adversaries that interfering with our election is unacceptable, and that they will pay a price — a strong price — for trying.” The United States and Russia are also on opposing sides of the escalating crisis with Iran, which shot down an American drone last week. Trump nixed a possible retaliatory air strike and stressed Friday that the “there’s no rush” to ease the tension with Tehran. The Mueller report did not establish a criminal conspiracy between Trump associates and the Kremlin to sway the outcome of the election. The finding lifted a cloud over the White House even as tensions have increased between Washington and Moscow. While Trump has long placed a premium on establishing close personal ties with Putin, his government has increased sanctions and other pressures on the Russian government. At a summit last November in Argentina, Trump canceled what would have been the leaders’ first post-Helsinki meeting after Russia seized two Ukrainian vessels and their crew in the Sea of Azor. Those crew members remain detained, yet Trump opted to forge ahead with the Osaka meeting. Trump said Friday alongside Putin that the fate of the sailors had yet to be discussed. The leaders last year announced their withdrawal from a key arms control pact, the 1987 Intermediate-Range Nuclear Forces Treaty. It is set to terminate this summer, raising fears of a new arms race. Another major nuclear agreement, the New Start treaty, is set to expire in 2021 unless Moscow and Washington negotiate an extension. But the backdrop, as always, will be Russia’s 2016 election interference. The White House said after Friday’s meeting that the leaders agreed to keep talking about a “21st century model of arms control,” which Trump said needs to include China. They also discussed the situations in Iran, Syria, Venezuela and Ukraine. The U.S. and Russia are on opposing sides on all four issues. Putin has denied meddling in the American election to help Trump, even though Mueller uncovered extensive evidence to the contrary. At the news conference that followed the Helsinki summit, Trump responded to a reporter’s question by declining to denounce Russia’s election interference or side with his own intelligence agencies over Putin. Trump opened the G20 summit by meeting with the host, Japanese Prime Minister Shinzo Abe, followed by Indian Prime Minister Narendra Modi and Merkel. He sounded optimistic about inking trade deals with all three, praised alliances he has strained in the past and expressed hope in dealing with North Korea. The president, who previously has disrupted carefully choreographed summits by attacking allies and adversaries alike, was poised to attend a dinner Friday evening at the ancient Osaka Castle. He also sent positive signals ahead of Saturday’s talks with China’s Xi Jinping. He said he believed there was “a very good chance” they could make progress toward ending their trade dispute. Earlier, as Abe officially received Trump, the president waved over his daughter Ivanka Trump and son-in-law Jared Kushner, both senior White House aides, to pose with him for the official welcome photo. Trump and Abe were later joined by Modi and the three engaged in a group fist bump at Trump’s urging.
These 4-year colleges offer free tuition — but there's a catch Tuition-free collegemay be afocus of the 2020 presidential campaign, but it can seem like a pipe dream to many students. Though there are community colleges that offer free tuition, it is rare for a four-year school to offer free tuition without securing scholarships, grants or utilizing other special programs. However, there are a handful of four-year schools that will pay for school — just as long as the students work. There are nine so-called “work colleges," where working is part of the education program. Of those, there are only three that offer free tuition, according to anew report from NerdWallet. According to a surveybyPayScale, about two-thirds of college graduates said they regretted something about their education — andstudent loanswere the most common issue. With student loan debt up to $1.6 trillion as of Q1 2019, according toFederal Reserve data, it could be worth looking into these colleges that offer to "foot the bill" and avoid the regret of taking on student loans. Alice Lloyd College in Pippa Passes, Ky. In order to get free tuition from Alice Lloyd College, students must be from one of108 countiesin the central region of the Appalachian mountains, including counties in Kentucky, Ohio, Tennessee, Virginia and West Virginia. Studentsmust worka minimum of 10 hours a week and 160 hours a semester. There are 14 departments they can work in, including building maintenance, resident advisors, library assistants and at the campus post office. According to the school’s website, students are paid minimum wage. Aside from free tuition, students at Alice Lloyd College do have to pay for room and board, matriculation fees, books and other expenses, according to thewebsite. Berea College in Berea, Ky. Berea College promises students they won’t have to pay their tuition. They are expected to pay for housing, meals and other fees, but that costs an average of $1,000, according to the school’swebsite. Students at the private, liberal arts college are expected to work a minimum of 10 hours a week and can work in more than 130 departments, according to theschool. College of the Ozarks in Point Lookout, Mo. College of the Ozarks is a Christian liberal arts college where students work 15 hours a week in more than 80 “work areas,” the school’s sitesays. CLICK HERE TO GET THE FOX BUSINESS APP Students will also be required to work two 40-hour work weeks each school year and, if they want to cover room and board, they can work 6 weeks for every semester over summer breaks. Fox Business’ James Leggate contributed to this report. Related Articles • Don't Make These 529 Savings Plan Mistakes • 10 Common Student Loan Mistakes • Disney Workers Forced to Train Their Foreign Replacements
Mosques in Iran utilise free energy to mine $260k worth of Bitcoin per year Iranian Bitcoin miners are starting to utilise free energy given to nationwide mosques in order to mine cryptocurrency, according to Oxford University researcher Mahsa Alimardani . Iran reportedly now has 100 miners situated in mosques around the country, earning an estimated annual income of around $260,000. “Mosques receive free energy in Iran. Iranians have set up Bitcoin miners in them. There’s around 100 here, producing around $260,000 USD a year. This money goes a long way in Iran’s choked sanctioned economy,” Alimardani wrote on Twitter . The move comes just days after the Iranian government cut off power to cryptocurrency mining rigs until new energy prices are approved. Mosques receive free energy in Iran. Iranians have set up Bitcoin miners in them. There’s around 100 here, producing around $260,000 USD a year. This money goes a long way in Iran’s choked sanctioned economy. https://t.co/fczwdqCPAd — mahsa alimardani 🌒 (@maasalan) June 26, 2019 Iran’s position on cryptocurrency remains ambiguous, with reports in May claiming that LocalBitcoin’s decision to remove Iranian listings was down to US sanctions. In April, Reuters also reported that Iranian citizens were forbidden from holding more than €10,000 outside of banks, raising question marks about potential cryptocurrency holdings. Another Twitter user named Mahdi, who initially posted images of a Bitcoin mining rig in a mosque, claimed that “100 percent of mining equipment was smuggled into the country”. He continued : “The good thing is that the supervisor accepts everything. They choose the number of devices. Until now, the power department did not work for anyone, but now the conditions are different and there is a good deal.” For more news, guides, and cryptocurrency analysis, click here . The post Mosques in Iran utilise free energy to mine $260k worth of Bitcoin per year appeared first on Coin Rivet .
Bashing Big Business at the Democratic Debates: CEO Daily Good morning. Regular readers of this newsletter know we try to avoid politics. But it’s hard to ignore the anti-big-business din coming from the 20 Democrats who participated in thefirst debatesof a too-long presidential primary season on Wednesday and Thursday nights. Health insurers earned top honor among the demons, with several candidates wanting to wipe out the industry in pursuit of “Medicare for all.” Big banks still score special scorn. “Big tech” is targeted for a break up. The words “fossil fuel industry” are spoken with ultimate contempt—as if any of us could get through our day without them. Defense companies and pharmaceuticals companies also rank high among the villains. “We can’t demonize every business,” former Colorado Governor John Hickenlooper protested at one point last night. But moderate voices like his were largely lost in the din. President Trump has driven many business leaders from the Republican Party with his trade policies, immigration policies, and general approach to issues of science, truth and social justice. But Democrats seem determined to make sure the dispossessed don’t cross into their camp. Little wonder a majority ofFortune500 CEOs nowsee themselves as independents. In today’s politics, they have no home. Here is a summaryof the action in last night’s debate. More news below. Enjoy the weekend. Alan Murray@alansmurrayalan.murray@fortune.com 1. Top NewsThere Goes JonyApple design guru Jony Ive is leaving Apple—but that doesn’t mean he won’t be designing for the company anymore. Ive is setting up his own independent design company, and Apple will be a primary client. Still, some are seeing the move as part of Apple’s shift from product development to services.Wall Street JournalTraton FlatVolkswagen IPO’d its truck unit, Traton, this morning. It wasn’t a great start. Already priced pretty low, Traton’s shares slid slightly after their launch. Demand for German listings is generally rather lackluster at the moment.ReutersLego BuyThe Lego family-empire firm, Kirkbi, is to buy the U.K.’s Merlin Entertainments (in which it already holds a one-third stake) for around $7.6 billion, along with investor partners including Blackstone. This will give Kirkbi control over the Legoland themeparks, as well as landmark experiences such as the London Eye and the Madame Tussaud’s waxwork museums.BBCIranian CryptoIran’s energy ministry has warned that massive cryptocurrency-mining operations are destabilizing the country’s power grid and causing consumption spikes. Electricity is heavily subsidized in Iran, making it a good place to make a buck by conjuring up power-intensive virtual coins. But now the government is trying to shut down such operations.RFERL 2. Around the Water CoolerBT StakeThe French telecoms giant Orange has raised $616 million by selling its remaining 2.5% stake in the U.K.’s BT. Orange had the stake as a result of BT buying its British mobile joint venture with Deutsche Telekom, EE, five years ago. But it apparently had no strategic need for the stake, and the cash could help Orange boost market share back home.ReutersPutin ChatRussian President Vladimir Putin gave a lengthy interview to theFinancial Times, in which he claimed liberalism was “obsolete” and sang the praises of globalization. Putin on Trump: “He seems to believe that the results of globalization could have been much better for the U.S. than they are. These globalization results are not producing the desired effect for the U.S., and he is beginning this campaign against certain elements of globalization. This concerns everyone, primarily major participants in the system of international economic collaboration, including allies.”FTU.S. StudiesChinese academia is getting more funding to research the U.S. and trade, after being accused of misunderstanding the U.S. and therefore being unable to handle the Trump administration’s trade offensive. International relations professor Shiu Yinhong: “[The trade war] proved that our world outlook had important gaps, which made us unprepared for the increasing trend towards selective ‘decoupling’ [with China].”South China Morning PostOld NavyOld Navy CEO Sonia Syngal writes forFortuneabout the importance of making all customers feel welcome: “No customer is the same as any other, and that’s exactly as it should be. Income, race, ethnicity, gender, sexual orientation, national origin, immigration status, religion, disability status, or shape should never be a barrier to feeling and looking your best.”FortuneThis edition of CEO Daily was edited by David Meyer. Findprevious editions here, andsign up for other Fortune newsletters here.
Inflation remains weak in eurozone as ECB mulls stimulus FRANKFURT, Germany (AP) — Consumer price inflation across the 19 countries that use the euro remained stuck at an annual 1.2% in June, well below their central bank's goal despite years of stimulus policies. The official figure released Friday by the EU statistics agency matched the May reading and came in short of the European Central Bank's target of just under 2% considered best for the economy. The figure for core inflation, which excludes volatile fuel and food prices, rose more than some expected, however, climbing to 1.1% from 0.8% in May. Core inflation is considered to give a truer picture of trends in consumer prices. ECB President Mario Draghi said last week that unless inflation improves, more stimulus such as interest rate cuts or bond purchases will be needed. In December, the central bank phased out a 2.6 trillion euro ($2.9 trillion) bond-purchase stimulus program that pumped newly printed money into the economy over almost four years, saying inflation was finally headed toward the target. But since then the bank has had to shift its stance toward more stimulus as economic indicators have been weaker and fears have grown that the U.S.-China trade conflict will hurt growth. The European Central Bank holds its next policy meeting July 25.
U.S. court urged to throw out 'Pharma Bro' Martin Shkreli's conviction By Brendan Pierson NEW YORK (Reuters) - A lawyer for former pharmaceutical executive Martin Shkreli on Friday urged a federal appeals court to overturn Shkreli's criminal conviction for defrauding investors in hedge funds he founded. The lawyer, Mark Baker, argued that the jury that convicted Shkreli was given incorrect instructions about securities fraud. Baker faced a barrage of skeptical questions from a three-judge panel during a brief proceeding in the 2nd U.S. Circuit Court of Appeals in Manhattan. Shkreli, 36, gained notoriety as the "Pharma Bro" after founding Turing Pharmaceuticals, buying the anti-parasitic drug Daraprim and raising its price by 5,000 percent, to $750 per pill in 2015. He was charged with securities fraud and conspiracy in December 2015, convicted by a federal jury in Brooklyn in August 2017 and sentenced to seven years in prison last year. He was also ordered to forfeit more than $7 million. His criminal case stemmed from two hedge funds and a drug company he had founded years before Turing. The jury found that he defrauded investors in the funds, MSMB Capital and MSMB Healthcare, by sending them fake account statements and concealing huge losses, and schemed to prop up the stock price of the drug company, Retrophin Inc. The jury acquitted him of related wire fraud conspiracy charges, for which it received slightly different instructions. Baker argued on Friday that the split verdict showed the instructions had made the difference. "The split verdict in this case speaks volumes as to the care the jury took," he said. Circuit Judge Joseph Bianco, however, said the jury instructions appeared necessary after Shkreli's lawyer at trial suggested that Shkreli could not be guilty because he eventually paid his investors back. Circuit Judge Debra Ann Livingston pressed Baker on that point: "A belief that ultimately no one will be harmed is not a defense to a securities fraud case, correct?" Baker conceded that it was not. Assistant U.S. Attorney Alixandra Smith, arguing for the prosecution, said the different instructions for securities fraud and wire fraud reflected a difference in the laws on those crimes. In a brief rebuttal, Baker said that even if Shkreli's conviction stands, the fact that he eventually paid back investors should "wipe out" his obligation to forfeit cash. The Brooklyn-born Shkreli, the son of Albanian immigrants, is scheduled to be released from prison in October 2023 if he fails to get his conviction tossed out. (Reporting by Brendan Pierson in New York; Editing by Jonathan Oatis and Matthew Lewis)
Binance Discussing Libra With Facebook, Exchange Exec Reveals Binancehas engaged in official discussions withFacebookand is “very excited” about thelibraproject, theexchange’sstrategy officer Gin Chao told BlockTV in an interview on June 27. While Chao cautioned the talks were at an early stage, the executive said Binance was “looking forward to working with libra as much as we can.” He said: “I think the potential that libra can have, not just on mass adoption but what it means to payments and forcing regulators’ hands to catch up a bit, is all good news.” In a separateinterviewto Finance Magnates at the FinTech Junction Conference inTel Aviv, Chao revealed that the discussions between Binance and Facebook “have largely focused on dealing with infrastructure.” He added: “It wouldn’t just be in [Facebook’s] interest to list theircoinon our exchange. It would also be in their interest to list on other exchanges as well and that’s probably going to happen. So if they decide to go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them.” Meanwhile,speakingto CryptoPotato, Chao confirmed that Binance “would like to throw its hat in the ring” to become a validator node on the Libra network. • A Partner at Binance Labs Expresses Optimism Over Facebook’s Entry Into Crypto With Libra • Reserve Bank of India Developing Blockchain Banking Platform • KuCoin Lists Binance Coin, Supports Binance Chain Projects • Binance Research: Facebook’s Libra Could Spark Additional Cryptocurrency Volume
Italy's Di Maio says Arcelor, Atlantia are 'blackmailing govt' By Francesca Landini MILAN (Reuters) - Italy's industry minister has accused two big companies - transport group Atlantia and steelmaker ArcelorMittal - of trying to blackmail the government, escalating a war of words which big business says could scare investors. Thousands of jobs could be at risk if the government followed through on threats to punish the two groups in the name of workers. Atlantia, controlled by Italy's Benetton family, risks losing its domestic motorway concession, which accounts for a third of its core profit, after the deadly collapse of a motorway bridge it operated in Genoa. ArcelorMittal has warned it could be forced to close the Ilva plant after Rome on Thursday scrapped the legal immunity granted by previous governments to ease a purchase of the ailing southern Italian plant - which has the largest production capacity in Europe - by the steel group. Industry Minister Luigi Di Maio, leader of ruling 5-Star Movement, was sharply critical of both companies. "If somebody wants to side with Atlantia or with Arcelor Mittal which are ... blackmailing the state and asking for legal immunity when (in the case of Arcelor) they are threatening to close the (steel) plant I stand with the workers and we will never side with multinationals that blackmail the state," he said in a video posted on his Facebook account. On Thursday Di Maio said the government was set to revoke Atlantia's concession, adding the group was an undesirable partner for troubled flagship carrier Alitalia. ArcelorMittal's European head, Geert Van Poelvoorde, reacted with disbelief to the government about face on the immunity, while Atlantia said on Thursday it reserved the right to take legal action to protect its reputation after Di Maio's remarks. The government is desperate to save Alitalia and there has been intense speculation that Rome could try to mend its relations with Atlantia in exchange for the company's help in rescuing the loss-making airline. Alitalia employs 11,6000 workers, with more than 8,000 people currently working at the Ilva plant in southern Italy. Italian industry lobby Confindustria said the handling of both Atlantia and ArcelorMittal cases by the government could damage the credibility of the country. Silvia Rovere, CEO of Morgan Stanley SGR, the group's asset management unit in Italy, told Reuters the country needed foreign investments and had to provide a safe environment. "Investors arrive but then the rules change or there is uncertainty in their application ... we can't afford it," said Rovere, who is also the head of Italy's association of real estate companies. "The country has low growth and very high debt, and we need both domestic and international investors to buy our (public) debt and invest in our projects." (Additional reporting by Giuseppe Fonte in Rome; editing by David Evans)
Era of low sovereign yields to last at least two more years By Hari Kishan BENGALURU (Reuters) - The era of low sovereign bond yields is not over and any significant pick-up is at least two years away, according to fixed-income strategists in a Reuters poll who are finally shifting away from predictions of higher yields. A move towards more easing by most major central banks and an escalation in the U.S.-China trade war have pushed yields to new lows. The U.S. Treasury yield curve has also inverted, a market event previously a precursor to almost all U.S. recessions since the Second World War. With global growth weakening, inflation not expected to reach or breach central banks' targets and no clarity on how trade conflicts will play out, major sovereign bond yields were forecast to trade significantly lower than predicted three months ago. A majority of the more than 70 analysts questioned in the June 20-27 poll also said the risk to those new expectations were skewed more to the downside. "Economic growth in developed economies will remain around 1 to 2% over the next decade and inflation will be restrained on the upside. That low-growth, low-inflation regime requires low policy rates and low sovereign bond yields," said James Orlando, senior economist at TD Securities. Among analysts who answered a separate question on how long the current low-yield era will last, 29 of 39 said over two years, including four respondents who said over 10 years and one who said "forever". The remaining 10 analysts said less than two years. That view is underscored by expectations the U.S. Federal Reserve, on a steady tightening mode until late last year, will cut interest rates in coming months. Over 60% of analysts who answered an additional question forecast a Fed rate cut in July, most likely by 25 basis points. "It is very rare that the beginning of the Fed cutting cycle is this low in yields. That is just not how financial markets operate," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "Moreover... all these rate cut fears and the rally at the long end of the U.S. curve is on the back of okay economic data. So I doubt if this is the low. I think 12 to 18 months from now, yields will be slightly comparable or lower." Market strategists have been wrongfooted by a significant margin over the past several years in predicting higher bond yields, which have not materialized for almost a decade. They have shifted away from that conventional view and are now forecasting subdued yields over the next 12 months. While there is hope of a trade war truce between the U.S. and China at this week's G20 meeting, the ongoing conflict is being blamed for slowing international growth and adding pressure on central banks to adopt looser policies. After dropping below 2.0% on Tuesday to levels last seen in November 2016, U.S. 10-year Treasury note yields rose slightly to a touch above 2.0%. While they are now forecast to rise to 2.20% in a year, that is the lowest since a survey almost three years ago and far lower than the 2.8% predicted in the March poll. As major central banks are expected to loosen policy to fight economic slowdown, more investors will likely flock into the safety of liquid and low-risk government debt, keeping yields depressed and returns elusive. German 10-year bond yields fell to a lifetime low of -0.336% this week and were at -0.303% on Thursday. While they are forecast to climb to about 0.10% in a year, that was the lowest prediction since Reuters started polling on it over 17 years ago. "What's going on in Europe ... is driven by a central bank that has promised to keep overnight rates at zero or below forever," said Janney Montgomery Scott's LeBas. "Although the prospects of deeply negative interest rates is somewhat befuddling, it does seem to be the base case in Europe at least." (Polling by Sarmista Sen and Hari Kishan; Editing by Jonathan Cable and John Stonestreet)
U.S. poses biggest threat to Canada's booming cannabis industry The chief executive of one of Canada’s cannabis producers hopes the country’s largest business association will help the industry confront its number one threat - competition from the United States. Greg Engel, CEO of Organigram (OGI), said the scale of the cannabis business in Canada is unmatched globally thanks to its first-mover advantage among G7 nations on federal legalization. He wants the new National Cannabis Working Group to push Ottawa to safeguard that lead. “Canada is uniquely positioned from a leadership perspective,” Engel toldYahoo Finance Canada. “We’re doing things at a scale and scope that no one else is doing.” The Canadian Chamber of Commerce said on Tuesday that the new working group will advocate for public policies to help the industry realize its full economic potential. Organigram is among the founding members, which also include fellow licensed producers Canopy Growth Corp. (WEED.TO) and HEXO Corp. (HEXO.TO), as well as Deloitte Canada and the law firm Dentons Canada LLP. Investor interest in high-flying pot stocks has allowed Canadian firms to spread their footprints internationally, and build massive grow facilities with global demand in mind. Meanwhile, U.S. federal law limits the reach of cannabis companies and forces production to operate at state-level scale. The growing number of states legalizing cannabis, and anticipation for reform at the federal level, is increasingly shifting investor focus to the U.S. while encouraging Canadian producers to develop resources stateside. Engel said while it is difficult to predict how Washington’s position on cannabis will evolve as the drug is more widely accepted, the Canadian Chamber of Commerce should prepare for the landscape to change. “What I really do see as a threat to the Canadian industry is changes in the U.S. from a regulatory framework perspective,” he said. “We’ve got an opportunity to build on the advantage we have in the near-term.” Illinois became the eleventh U.S. state to legalize recreational use on Tuesday. Cannabis-related bills were considered in 25 state legislatures this year, including in New York and New Jersey, according to advocacy group Marijuana Policy Project. In the U.S., cannabis remains illegal at the federal level. The drug is classified as a Schedule 1 substance with no medical value and a high potential for misuse. Engel said the new National Cannabis Working Group is still determining its priorities. He hopes the group, which spans the financial, legal, construction and transportation sectors, will eventually guide policies that advance Canada’s cannabis interests globally. “The primary aspect of it is really shaping public policy and decision making within Canada as a starting point. But I think the chamber of commerce in many aspects also does work closely with boards of trade, and works internationally,” he said. “It’s still early.”
Joe Biden vs. Bernie Sanders: Second Debate Puts Rivals on Full Display The two frontrunners for the Democratic presidential nomination faced-off center stage Thursday night in part two of the first debates and the stark platform contrast between former vice president Joe Biden and Sen. Bernie Sanders (D-Vt.) was on full display. The two camps, which are one-two in most polls with Biden holding an early lead over the field, are taking distinct approaches to the 2020 race. Biden is emphasizing his ability to topple Trump, and is leaning into a more traditional Democratic Party platform that builds off the Obama legacy. Sanders, on the other hand, seeks to shake up the party’s key policy initiatives. While, Biden views Trump as and aberration and his own campaign as a return to normalcy, Sanders believes Trump’s election symbolizes broader social and economic issues, demanding a more radical plan. Sen. Kamala Harris (D-Calif.) had the most buzzworthy clash with Biden of the night, challenging his opposition to federally mandated busing for school desegregation and work with pro-segregationist senators. But the moderators, a team from NBC news, consistently structured the questioning so Sanders and Biden would follow one another, and their contrasting core values were apparent throughout. A moment midway through the debate when all of the candidates were asked to describe their first priority in a few words spotlighted the differences. “We need a political revolution,” Sanders said. “People have got to stand up and take on the special interests, we can transform this country” Biden, after referring back to a previous question to praise Obama’s record on combating climate change, responded: “The first thing I would do is make sure we defeat Donald Trump, period,” On issue after issue, Biden often referred back to Obama administration policies and his own, lengthy senate record. Sanders, meanwhile, hammered on the need for a deeper transformation, a movement to take on the monied interests such as Wall Street, insurance companies, and the fossil fuel industry. While Biden advocated a quick return to the Affordable Care Act as a first step to improving health coverage, Sanders responded by invoking fresh ideas and “real change.” “We have a new vision for America. We think it is time for change, real change,” he said. “Healthcare is a human right. We have got to pass a medicare for all, single payer system.” As the poll frontrunner, Biden drew the most direct attacks from the other candidates. Rep. Eric Swalwell repeatedly referenced Biden’s age, later including Sanders, as he repeated the phrase “pass the torch.” Sanders, 77, and Biden, 76, have their relative advanced age compared to the field as a commonality, one that the senator from Vermont rushed to defend. “The issue isn’t about generation. It’s who has the guts to take on the big money interest who have unbelievable influence on the political life of this country,” Sanders said. When foreign policy was raised, Sanders was quick to point out his opposition to the Iraq War. “One of the differences that Joe and I have in our record is Joe voted for that war,” he said. “I helped lead the opposition to that war.” Both of them expressed their support for rejoining the Paris Climate Agreement and increased gun control legislation. And on immigration they took similar tacts as well, with Biden returning to his praise for Trump’s predecessor. “President Obama did a heck of a job, to compare him to what this guy is doing is immoral. We need to change the circumstances behind why they leave in the first place,” he said. Both candidates raised their hands when asked if they would support providing health care coverage for undocumented immigrants and changing crossing the border without inspection to a civil rather than criminal offense, an issue raised by Julian Castro in Wednesday night’s debate. “On day one we rescind every damn thing on this issue that Trump has done,” Sanders said on immigration. “Second, we have to look at the root causes [of the border crisis].” There were few direct attacks between Sanders and Biden, but their divergent paths to the same goal reflect the two dominant Democratic strategies for victory. As might be expected, the attacks on the biggest opponent not in the room were the sharpest and most frequent. “The American people understand that Trump is a phoney, a pathological liar and a racist and he lied to his people during his campaign,” Sanders said. :We beat Trump by exposing him for the fraud that he is.” Biden, given the final closing statement of the night, implored the nation to unify against a near existential crisis. “I think it’s important we restore the soul of this nation,” Biden said. “This president has ripped it out.” In terms of total time on the mic, Biden won the evening, topping all candidates with 13:19 of speaking time while Sanders came in third (10:58), behind Harris (12:19). —What the2020 Democratic candidates didn’t sayduring the second debate —Harris has a strong showing, stuns Biden on night 2 of Democratic debate —Democratic debate night 1: what we learned from each candidate —2019Democratic debate night 1: Highlights —2019Democratic debate night 2: Highlights —Fact-checkingclaims from night 1 of the Democratic debate —Fact-checkingclaims from night 2 of the Democratic debate
Air Canada reaches deal for Transat, but 'regulatory minefield' still ahead Transat A.T. Inc’s board of directors has approved Air Canada’s takeover offer valued at $520 million, but several hurdles remain before the transaction can be approved, including concerns about competition. The deal, announced Thursday following a 30-day negotiating period, will see Air Canada purchase outstanding shares of Transat, an airline and travel tour operator, for $13 a share. Canada’s largest airline said it will keep Transat’s brands intact, while also maintaining its head office and key functions in Montreal. Executives from Air Canada and Transat said the transaction was the best possible outcome for both companies. But the offer still faces shareholder and regulatory hurdles before it can be finalized. Transat needs to obtain shareholder approval from two-thirds of its investors, and some of its biggest shareholders have expressed disapproval of Air Canada’s offer. Letko, Brosseau and Associates and PenderFund Capital Management, which jointly own a 21.1 per cent stake, have said they would vote against the agreement if the purchase price remained at $13 a share. The deal is also expected to face a Competition Bureau review looking at the potential impact on competition, airfares and job maintenance, as well as a review conducted by the Minister of Transport to ensure the agreement is in the “public interest.” “The issue around competition is perhaps the largest risk to a deal being completed,” National Bank analyst Cameron Doerksen wrote in a note to clients shortly after the deal was first unveiled on May 16. Air Canada’s share of seat capacity in the trans-Atlantic market would grow from 42 per cent to 60 per cent with Transat under its wing, according to National Bank’s analysis. When it comes to seat capacity to sun destinations, which includes the Caribbean and Mexico, Air Canada’s share of the market would jump from 24 per cent to 46 per cent. However, Doerksen believes Air Canada will be able to argue that there are new competitors emerging in different markets, reducing the impact of the acquisition. “We believe Air Canada can argue that competition is growing and there are few restriction to prospective competitors beyond certain slot-restricted airports such as Heathrow, where Transat does not fly anyway,” Doerksen wrote in May. Robert Kokonis, president of Toronto-based consulting firm AirTrav Inc., said in an interview that he believes the results of a potential Competition Bureau review will likely include contingencies – for example, that perhaps Air Canada gives up some slots at specific airports – that must be enforced before an acquisition takes place. “I think it will go through regulatory process for sure, and that there is an extremely high likelihood that there will be conditions attached,” Kokonis said. While Air Canada received approval to acquire Canadian Airlines International in 2000, Raymond James analyst Ben Cherniavsky noted in a May 16 report that the airline industry has evolved substantially since then and is more profitable today. “The government these days has been much more interested in protecting the consumer (see the Passenger Bill of Rights) and encouraging more competition (see the recent changes to limits on foreign investments) than helping the incumbent airlines,” he wrote. “It is hard to see how a merger of Air Canada and Transat will facilitate either of these goals, especially for Quebecers.” According to Cherniavsky, Air Canada’s share of seats flying from Montreal’s Pierre Elliott Trudeau International Airport would increase from 50 per cent to 60 per cent with Transat now under its wing. Air Canada’s share of seats from Montreal and Quebec City to Cancun would jump from 29 per cent now to 62 per cent post-takeover. “Beyond the regulatory minefield that Air Canada must manage through this process, there is also substantial execution risk to consider if this acquisition is approved and moves forward,” Cherniavsky wrote, pointing to previous airline mergers that were “notoriously complex, time-consuming and risky.” “Whatever the intent, we see a hornet’s nest of complexity associated with this acquisition.” Still, Air Canada’s chief executive Calin Rovinescu said in a statement that the deal is “the best possible outcome” for all stakeholders. “For shareholders of Transat and Air Canada, this combination delivers excellent value, while also providing increased job security for both companies’ employees through greater growth prospects,” he said. Analysts tend to agree when it comes to growth prospects. Doerksen said an acquisition of Transat would be a positive for Air Canada, with the potential for meaningful cost and revenue synergies. Altacorp Capital analyst Chris Murray said in a note to clients Thursday that the transaction was “positive for all stakeholders” and will enhance earnings for Air Canada going forward. With files from the Canadian Press Download the Yahoo Finance app, available forAppleandAndroid.
China bans imports of crude oil contaminated with organic chloride SINGAPORE/BEIJING (Reuters) - China has banned imports of crude oil containing more than 10 parts per million (ppm) of organic chloride, a contaminant that can damage refining equipment, the country's General Administration of Customs said in a faxed statement on Friday. The statement was in response to questions from Reuters sent last week on whether China was restricting imports of Russian crude oil contaminated with the chemical. Last week, Reuters reported that five trading sources said China's customs had told buyers not to take Russian crude with more than 10ppm of organic chloride. The contaminant started appearing in shipments of Russia's Urals crude on European pipelines and on tankers loading in the Baltic Sea in April. Organic chloride is used to boost the output of wells but can corrode the metal in refineries. China's ban has put additional pressure on oil traders that are struggling to place cargoes of the contaminated oil, with more than 1 million tonnes held on tankers unable to be sold. (Reporting by Chen Aizhu in Singapore and Beijing newsroom; editing by Christian Schmollinger)
Deutsche Bank completes talks to cut 750 jobs in Postbank integration - memo FRANKFURT (Reuters) - Deutsche Bank has completed talks about cutting 750 jobs at the joint headquarters of its private and corporate clients businesses as part of the integration of retail lender Postbank, it said in a memo to staff on Friday. "This reduction is unfortunately unavoidable if we want to avoid double functions and position our organisation in such a way that we can achieve our goals," retail head Frank Strauss said in the memo seen by Reuters. Separately, Deutsche Bank remains in talks over slashing another 1,200 jobs in the area of operations, which includes account services and credit settlement, a person close to the matter said. Deutsche Bank declined to comment. The lender is in the process of integrating Postbank, the retail banking business once owned by Germany's postal service, with its own retail banking operations to save costs. The new business will have 20 million customers with about 325 billion euros ($370.01 billion) in deposits. ($1 = 0.8783 euros) (Reporting by Arno Schuetze)
Missouri's only abortion clinic to stay open until at least August 1 (Reuters) - Missouri's only abortion clinic will remain open for now after a state arbiter on Friday ordered a stay in response to Planned Parenthood's challenge of the state health department's refusal to renew the clinic's license. Planned Parenthood, the women's healthcare and abortion provider that operates the clinic, filed a petition with Missouri's Administrative Hearing Commission on Tuesday after the group challenged the health department's denial in state court and a judge referred the matter to the commission. The clinic would have had to stop providing abortion services on Friday if the commission did not grant the stay, which allows it to stay open until its initial Aug. 1 hearing date. In its ruling, the commission noted that the issue of abortion entails great public interests for opponents and proponents, but that the only question it was considering was a motion to stay the expiration of a statutory license. "Consequently, the public interest of our concern is the procedural due process of licensees to appeal the decisions of regulatory bodies. We find that granting this stay sufficiently protects that interest," the commission said. Dr. Colleen McNicholas of the Reproductive Health Services of Planned Parenthood of the St. Louis Region said in a statement that they were relieved by the last-minute reprieve. "This has been a week-to-week fight for our patients and every Missourian who needs access to abortion care," McNicholas said. "There are two things that remain unchanged in Missouri: the uncertainty our patients face, and our will to continue fighting for their right to access safe, legal abortion." Missouri health officials declined to renew the St. Louis clinic's license last week on the grounds it failed to meet their standards. If Missouri officials succeed in closing the clinic, it would become the only U.S. state without a legal abortion facility. Story continues Abortion is one of the most divisive issues in the United States. Missouri is one of 12 states to pass laws restricting abortion access this year, some aimed at provoking a U.S. Supreme Court review of the landmark 1973 Roe v. Wade decision that recognized a woman's constitutional right to terminate her pregnancy. "The terrifying reality is that access is hanging on by a thread with a narrowing timeline," McNicholas, who is a physician at the clinic, said in a statement ahead of the ruling. Judge Michael Stelzer had issued a temporary injunction on Monday letting the clinic stay open until Friday at 5 p.m. CT (2200 GMT), ahead of the decision of the commission, which serves as an independent arbiter in disputes between state agencies and individuals or groups. On Friday, a group of civil rights groups, doctors and clinics sued Georgia seeking to overturn a law passed in March that bans abortions if an embryonic or fetal heartbeat can be detected. And the U.S. Supreme Court sidestepped a major new challenge to abortion rights by declining to hear Alabama's bid to revive a Republican-backed state law that would have effectively banned the procedure after 15 weeks of pregnancy. Separately in New York City, Mayor Bill de Blasio said the city's public health system will stop participating in the federal Title X program for as long as a "gag rule" is in effect that prevents medical providers from sharing information and counseling about abortion with their patients. Missouri state officials have said one of their conditions for renewing the clinic's license was to be allowed to interview several physicians who were involved in what they said were multiple life-threatening abortions at the clinic. Planned Parenthood officials have said they do not directly employ all the clinic's staff and cannot force certain health workers to give interviews. (Reporting by Gabriella Borter in New York; Additional reporting by Daniel Wallis; Editing by Cynthia Osterman and James Dalgleish)
Newsmaker: Caixa CFO brings dealmaking buzz to once-sleepy Brazil state bank By Tatiana Bautzer and Carolina Mandl SAO PAULO (Reuters) - Andre Laloni, a veteran of investment banks from Goldman Sachs & Co to UBS Group AG, seemed like an unlikely pick to become chief financial officer of Brazilian state bank Caixa Economica Federal, long a sleepy mortgage underwriter. Yet in just a few months the 46-year-old banker has made Caixa the talk of Faria Lima Avenue, the epicenter of Sao Paulo's dealmaking scene. The sudden prominence of the Caixa investment banking unit that Laloni started from scratch highlights how dramatically President Jair Bolsonaro is shaking up Brazil's vast state-run banking apparatus. Caixa has taken the lead among state-controlled banks under pressure to sell assets and return funds to the government, doing deals at a faster pace than both larger listed peer Banco do Brasil SA and development bank BNDES. Laloni is juggling a dozen deals, including share offerings of stakes the bank owns or manages in other companies, as well as potential M&A or IPOs for its own subsidiaries. What convinced the banker to take his first-ever public sector job was the mission of scaling back Brazil's bloated bureaucracy, he said. "We know we're all here for a limited period of time, but what attracted us to this job is the idea of a legacy," Laloni said in a recent interview at a Sao Paulo steakhouse. To handle the deals plus his CFO tasks, Laloni works up to 16 hours a day and most of his weekends. Some Caixa workers unaccustomed to the long hours asked to leave the investment banking division, he said, while downplaying the idea of a culture clash. So far this year, Laloni has managed 10 billion reais ($2.6 billion) in offerings of the bank's stakes in reinsurer IRB Brasil Resseguros SA and oil firm Petroleo Brasileiro SA. That equals 37% of all share offerings in Brazil, Latin America's largest stock market, this year through June 26, according to Refinitiv data. Laloni expects the total to reach 15 billion reais by the end of July, with planned sales of Caixa's stakes in Banco do Brasil and power holding company Alupar Investimento SA. In the second half of the year, Laloni, who has an MBA from the University of Virginia, expects to focus on deals involving the bank's divisions such as insurer Caixa Seguridade, aiming to strike partnerships ahead of an IPO. The deals could double the amount raised to 30 billion reais by year-end, he estimates. Caixa's proceeds from the asset sales will go to repaying loans owed to the Brazilian Treasury. RISING IN RANKING Caixa's divestitures may for the first time give the bank a toehold in Brazil's investment banking league table, a ranking of advisers on M&A and equity deals. It has already risen to fifth place in the equities ranking. Laloni's newly assembled team has 30 members, with five from other banks including Barclays, where he spent six years as a director. The rest were recruited internally, as Caixa has restrictions on hires that do not go through a mandatory state workers' exam. After starting his career in UBS's New York office, Laloni jumped to Brazil's Itau Unibanco, then to Goldman Sachs and Barclays in Sao Paulo. UBS then hired him as head of Brazil and Southern Cone investment banking, but he left to take a sabbatical in late 2016 in what the bank called a "mutual decision." In February, Caixa Chief Executive Pedro Guimaraes, another veteran banker who had worked with Laloni on deals, recruited him to bring private-sector dealmaking skills to the bank. Although there is no plan to list Caixa itself, it began reporting earnings this year as if it were publicly traded. "I want Caixa to be transparent, we'll have listed subsidiaries," Laloni explained. In the near future, Caixa is also mulling sales of its stakes in lender Banco Pan SA and potential IPOs of companies part-owned by a fund the state bank manages, such as sanitation firm Brookfield Ambiental and logistics firm VLI SA. Laloni also hopes to grab some mandates advising the economy ministry on other state firms' privatizations in coming years. To further expand the investment banking unit, he aims to start offering domestic mid-sized companies an opportunity to sell bonds in Brazil's growing fixed income market. "Changing a country's culture is never easy," he told institutional investors during a recent visit to New York. "But we are very focused and moving on." ($1 = 3.8468 reais) (Reporting by Tatiana Bautzer and Carolina Mandl; Editing by Christian Plumb and Tom Brown)
Trump and Xi set to meet at G20 to talk trade: Morning Brief Friday, June 28, 2019 Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe The highly-anticipated G20 summit kicks off today in Osaka, Japan. All eyes are on U.S. President Donald Trump and Chinese President Xi Jinping as the two leaders prepare to meet for extended trade talks over a lunch meeting on Saturday. Ahead of Trump and Xi’s meeting, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He are expected to meet, according to the Wall Street Journal. And, Xi is reportedly planning to attend the meeting with prepared terms for further trade negotiations. In theory, if the trade discussions play out well at the G20 between Trump and Xi, that would put a pause on the looming tariffs set to go into effect on the remaining $300 billion worth of Chinese goods. However, on Thursday, Trump’s top economic advisor Larry Kudlow said in an interview with Fox News that no official agreements have been made, and the U.S. may green light the remaining tariffs. Meanwhile, beer giant Constellation Brands (STZ) is the only major company to report earnings before the market opens. Analysts expect the company to report adjusted earnings of $2.05 per share on $2.07 billion of revenue, according to data compiled by Bloomberg. Read more Apple Chief Design Officer Jony Ive is leaving: Apple’s Chief Design Officer Jony Ive is stepping down from the tech giant. Ive confirmed the news himself in an interview with The Financial Times. Ive will be striking out on his own to create his own design firm called FromLove. He isn’t leaving Apple’s orbit entirely, though. In the interview Ive said that Apple (APPL) will be FromLove’s first client. [Yahoo Finance] Food fights and racial divisions highlight Democratic debate: The front-runners of the crowded Democratic presidential contest jostled on Thursday night over issues of race relations and whether the time had come for a new generation of leaders. In heated exchanges on the second night of the primary's first head-to-head debates, lesser-known candidates trained their fire at former Vice President Joe Biden and prominent U.S. senators engaged in shouting matches. [Reuters] Nike's Q4 earnings miss Wall Street's expectations: Nike (NKE) reported fiscal fourth-quarter earnings per share that missed consensus expectations, while posting stronger-than-expected sales results in North America and China. [Yahoo Finance] Also:Nike shelves sneaker release after designer speaks out on Hong Kong[Yahoo Finance] Luxury reseller The RealReal raises $300M in IPO: Online luxury reseller The RealReal Inc. raised $300 million in its U.S. initial public offering, pricing its shares above a targeted range. The RealReal sold 15 million shares for $20 each after marketing them for $17 to $19, according to a statement. The IPO values the company at about $1.6 billion based on the outstanding shares — excluding some restricted shares and options — listed in its filings. [Bloomberg] Jamie Dimon: Donald Trump should 'walk away' if he can't get a good deal with China Why the backlash over Kim Kardashian trademarking 'Kimono' strengthens her legal case How Buffalo Wild Wings plans to magically transform into America's greatest sports bar 'This is really quite dramatic': Cocaine is booming like never before Slavery reparations could carry a $17 trillion price tag To ensure delivery of the Morning Brief to your inbox, please addnewsletter@yahoofinance.comto your safe sender list. Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
New York Yankees vs Boston Red Sox: Aaron Judge, the long ball and MLB’s masterplan to charm London What took you so long? MLB finally arrives in London this week with the Boston Red Sox facing the New York Yankees , finally following the NFL and NBA by taking their show on the road to the UK. More than 130,000 fans will cram into West Ham ’s London Stadium for two regular season matches inside 24 hours. “We are coming with all we have,” remarked Yankees legend Alex Rodriguez. The menu on offer is in stark contrast to the tentative strategy from rival leagues and their foray to London, who banked on the brand being enough to spark interest. Initially that may have been the case, but sport fans are increasingly intelligent and MLB is playing catch-up, with the NFL rolling out regular season games 12 years ago. Their initial aggressive strategy appears here to stay too, with two more storied franchises, the St Louis Cardinals and Chicago Cubs , set to follow next year. The Green Bay Packers continue to be left off the NFL’s schedule for London due to the extraordinary revenue teams would surrender by forfeiting a home game against the travelling Cheeseheads. This is one aspect where MLB can turn a negative into a positive with their 162-game regular season watering down the product somewhat until the post-season approaches. The league’s presence appears to have caused a stir, no mean feat considering the ongoing Cricket World Cup, as well as the start of Wimbledon next week. ”I’ve never been here, but you see that baseball does have a universal language. It connects people,” Yankees manager Aaron Boone said. “To see people out here, whatever level of experience they have in the game, they share a passion for it. It’s connecting with a younger generation in a different place.” A storied rivalry The Red Sox and Yankees’ rivalry, just like America’s Game, is dripping with history. The fabled origin of the bitter hatred between the sides stems from the notorious trade of Babe Ruth to the Yankees in 1920, fuelled by former Red Sox owner Harry Frazee’s desire to fund a Broadway musical. Story continues And so began ‘The Curse of the Bambino’: An 86-year title drought for Boston, cruelly running parallel with the relentless success of the Bronx Bombers in the shape of 26 World Series championships. The London Stadium is primed for MLB (Getty) The form The novelty of the games may be enough to the vast majority on Saturday and Sunday, yet there is plenty at stake as both sides battle to emerge from the American League East for the play-offs. The Yankees (9-1 in their last 10) currently lead both the American League and the East division, 6.5 games ahead of the Tamp Bay Rays and a further 2.5 games ahead of the Red Sox – aiming to rebound after squandering a ninth-inning lead to fall to the Chicago White Sox 8-7 on Wednesday. As well as possessing the superior record, the Yankees are high on star power too, even without injured heavyweight slugger Giancarlo Stanton (tied to a 13-year, £255 million contract), who is one half of the ‘Super Smash Brothers’ with Aaron Judge. Judge, Luke Voit, Gio Urshela and Gleyber Torres narrowly missed out as All-Star starters this week, with the Midsummer Classic taking place on July 9 in Cleveland. But DJ LeMahieu, second base, and Gary Sánchez, catcher, made the cut. The same honour could not be bestowed on any Red Sox player for the first time since 2005, as Mookie Betts and JD Martinez missed the cut. Judge connects for the Yankees (USA TODAY) Welcome to the long ball Those more accustomed to baseball may appreciate the tactical aspect of the sport: notably the recent rise of small ball, which essentially chips away at pitchers to force sides to pull their starter and turn to the bullpen for relief against stolen bases and clever sacrifice bunts. But fans could be set for a treat this weekend with the brawn of Judge, an upward trend in power hitting this season and the friendly dimensions of the London Stadium – with center field only 385 feet away, the shortest of any park in baseball - able to offer the prospect of home runs. “You’re going to see balls hit over 550ft,” Rodriguez remarked. “The fans are going to think: ‘those are golf balls.’ They’ve never heard a sound... it sounds like it came out of a cannon. It’s the most incredible sound.” The Yankees homered for the 29th straight game on Wednesday – a new MLB record. Another may tumble this season with current estimates putting the league on track for 6,614 homeruns, 509 more than the previous record set in 2017, which broke the 17-year record from 2000 by 412. “When I was playing, I would have people saying, ‘I couldn’t see you hit, but I can hear you hit.’ And that’s Aaron Judge. “You can be outside the stadium, when it hits the wood, you’ll recognise it. That’s Aaron Judge hitting. It’s magical: something you will never forget.”
Inbetweeners star James Buckley reveals he 'struggles' with fame and is 'close to never leaving the house' Inbetweeners star James Buckley has opened up about “struggling” with the fame that being on TV gave him. The actor, who played Jay Cartwright in the crude comedy, admitted that he feels like is creeping “closer and close to never leaving the house again” as he questions why people want to take “secret” photos of him and know what he’s up to. “I think I’m getting closer and closer to never leaving my house again,” Buckley told the Daily Star. “If someone said to me: ‘I would really like to be famous,’ I would say to them: ‘You really don’t.’ “I’m struggling with it and I’m not even that famous. I’m not anywhere near Tom Cruise or Brad Pitt or someone like that and I really, really struggle with it.” Cast of The Inbetweeners: Blake Harrison, James Buckley, Simon Bird and Joe Thomas (Getty Images) He added to the publication that it was “something he found really difficult” and would like people to “just come talk” instead of lingering around. Buckey’s comments come months after he said he felt “hated” after the Inbetweeners 10-year reunion left fans “disappointed” . The celebration show, which marked a decade since the comedy began, saw Buckley reunite with his co-stars Simon Bird, Blake Harrison and Joe Thomas for a one-off special hosted by Jimmy Carr. But many fans blasted the show for being more of an interview-based quiz show than a new episode. Buckley tweeted: “Feeling pretty hated right now. “I’m sorry to anyone who feels let down with last night’s show. I’m especially upset as it really is the fans that made the Inbetweeners such a success, it certainly wasn’t me.”
Amazon is set to lose a massive £31m on comedy flop 'Late Night' Mindy Kaling and Emma Thompson in Late Night (Credit: Amazon) Amazon Studios could be looking at a staggering loss of $40 million (around £31 million) on its new comedy Late Night , which has tanked disastrously at the box office. The movie, written by and starring The Office's Mindy Kaling, found Emma Thompson's late night talk show host battling poor ratings and revamping her show with the help of Kaling's character Molly. But despite decent reviews , it's done terrible business at the multiplexes in the US, where comedy is becoming a harder sell in the changing world of home streaming. Read more: Paul Rudd joins Ghostbuster s cast It took just $11 million (£8.6 million) despite appearing on a robust 2000 screens. According to Variety , Amazon paid $13 million (£10.2m) to buy the distribution rights to the movie, but then spent an additional $33 million (£26m) on its promotion and marketing. But it hasn't got bums on seats, and now Amazon could lose as much as $40 million on the ailing project. Amazon Studios' Head of Movie Marketing & Distribution Bob Berney speaks at the Amazon Studios International Presentation at The 2017 Cannes Film Festival. (Photo by Todd Williamson/Getty Images for Amazon Studios) Variety reckons that after the flop and also the recent departure of Bob Berney, Amazon Studios' marketing and distribution chief, it's 'left people in the business wondering about the strength of Amazon’s commitment to making movies'. It's thought that instead it could be leaning more towards its TV programming, most notably its massively ambitious, big budget Lord of the Rings series, which is currently in production. Read more: Netflix movies you can watch now Amazon has been producing movies since 2015, beginning with the Spike Lee comedy Chi-Raq , and then signing a deal with Woody Allen to make a number of movies (though Allen is now suing the studio for $68 million (£53.6m) for breach of contract ). It also co-produced movies like Oscar winner Manchester By The Sea , The Big Sick and Luca Guadagnino's remake of Suspiria . Upcoming film projects include an adaptation of Donna Tartt's novel The Goldfinc h with Ansel Elgort and Nicole Kidman and Shia LaBeouf's Honey Boy , in which the actor plays a version of his own father in an autobiographical piece.
Harris Has a Strong Showing, Stuns Biden on Night 2 of Democratic Debate California Senator Kamala Harris served notice Thursday that she’s a strong contender for president clashing with former Vice President Joe Biden on his stances about race and busing. While Biden wasted no time bashing President Donald Trump during the second night of the Democratic presidential debates in Miami, the frontrunner was stunned by Harris during a riveting moment. The freshman senator ripped into Biden about his recent remarks about working with a pair of shameful segregationists when he was in the Senate and his opposition to busing in the 1970s. “I do not believe you are a racist. And I agree with you when you commit yourself to the importance of finding common ground,” Harris told Biden. “But, I also believe—and it is personal—it was actually very hurtful to hear you talk about the reputations of two United States senators who built their reputation and career on the segregation of race in this country.” Harris said Biden worked to prevent the Department of Education from integrating school busing more than four decades ago, and that move affected a little girl growing up in Northern California. “That little girl was me,” said Harris, her voice trembling. “So, I will tell you that on this subject, it cannot be an intellectual debate among Democrats. We have to take it seriously. We have to act swiftly.” In a sharp contrast among the first 10 candidates who debated on Wednesday, Thursday’s fiery debate between four of the highest-polling candidates, Biden, Harris, Senator Bernie Sanders, and South Bend, Ind., Mayor Pete Buttigieg, as well as six others desperate to make an impression on voters, set the tone that Trump will not be the only target this campaign season. For his part, Biden said Harris’ comments were “a mischaracterization of my position across the board, I did not praise racists.” Harris, a former attorney general in California, pressed Biden on his record of fighting to oppose busing decades ago, citing she benefitted from busing. “Do you agree today, do you agree today that you were wrong to oppose busing in America then?” she said in a prosecutorial tone. “Do you agree?” “I did not oppose busing in America,” Biden said. “What I opposed is busing ordered by the Department of Education. That’s what I opposed.” While Biden was respectful and did what he needed to do to hold onto his frontrunner status, saidDan Sena, former executive director of the Democratic Congressional Campaign Committee, Harris was impressive. “She’s showing she has every intention to lead and fight to win the race,” said Sena, adding that Harris is now firmly in the top tier of Democratic candidates. “She’s clearly more than her words.” Sena said Harris’ exchange with Biden will get her attention, but her approach might be seen as “an overreach” with individual voters as Biden remains the odds-on favorite. Yet, Harris separated herself from the pack Thursday not only by taking aim at Trump and Biden but even reining her rivals in during a chaotic moment. “Guys, you know what, America doesn’t want to see a food fight, they want to know how we’re going to put food on their table,” which drew thunderous applause and even a clap from Biden. But Harris eventually zeroed in on Trump and the economy, saying Trump is out of touch with Americans who are struggling to maintain a decent living, some working two and three jobs. “When you ask him how you measure this great economy of yours, and he talks about the stock market. Well, that’s fine if you own stocks. So many families do not,” she said. “Let’s be really clear: in our America, no one should have to work more than one job to have a roof over their head and food on their table.” Biden made similar remarks disputing Trump’s notion that Wall Street built America. “Ordinary middle-class Americans built America. Too many people have seen the bottom fall out,” Biden said. “We have enormous economic inequity. We can make massive cuts in the $1.6 billion in tax loopholes.” As Harris stole the spotlight, other contenders including California Congressman Eric Swalwell, Senators Michael Bennet, and Kirsten Gillibrand; John Hickenlooper, the former governor of Colorado; writer and religious activist Marianne Williamson, and businessman Andrew Yang, tried to make headway. Swalwell urged Biden to “pass the torch” to a new generation of candidates, echoing remarks Biden said 32 years ago. Swalwell noted a way to solve climate change, gun violence, and student loan debt is to “pass the torch.” Biden replied, “I’m still holding onto that torch.” Sanders later told reporters he thought Swalwell’s comments were borderline ageism. “What we are trying to do, what all of us are trying to do is to end discrimination in this country against women, against minorities, against the LGBTQ community and ageism as well,” Sanders said. “Look, at the end of the day what the people of this country have got to determine is what candidate will stand up for their best interests? “It doesn’t matter whether you are young or old, black or white, but I’ll take a hard look at the candidates and what they stand for.” As for Sanders, when asked by moderators if Democrats nominated a socialist would mean a Trump reelection win, the senator quipped: “The last polls have us 10 points ahead of Donald Trump because the American people understand that Trump is a phony; that Trump is a pathological liar and a racist, and he lied to the American people during his campaign,” Sanders said. “President Trump, you’re not standing up for working families when you try to throw 32 million people off their health care that they have; and then 83 percent of your tax benefits go to the top percent. “That is how we beat Trump,” Sanders said. “We expose him for the fraud that he is.” Hickenlooper said the thought of socialism could provide Republicans with an opening to come at Democrats “any way they can.” Regarding health care, Sanders touted his “Medicare-for-All” plan which would include taxes going up for the middle class while their overall health care costs would go down. “At a time when we have three people in this country owning more wealth than the bottom half of America while 500,000 people are sleeping on the streets today,” Sanders said. “We think it is time for (a) change.” Sena said he thought Sanders didn’t fare well on Thursday as he and Biden will have to regroup. Meanwhile, Sena, the former DCCC chair, thought Buttigieg had key moments, especially when he admitted that the recent fatal shooting of an African American man by a white police officer in South Bend is “a mess,” and calling out the Republicans hypocritical on their use of religion, especially in relation to the immigration crisis. “And for a party that associates itself with Christianity, to say that it is OK to suggest that God would smile on the division of families at the hands of federal agents, that God would condone putting children in cages, has lost all claim to ever use the religious language,” Buttigieg said. Sena said both Democratic debates should go a long way to separate the field of candidates. “Also, one more thing,” he said. “It’s June. It’s way early.” —What the2020 Democratic candidates didn’t sayduring the second debate —Democratic debate night 1: what we learned from each candidate —2019Democratic debate night 1: Highlights —2019Democratic debate night 2: Highlights —Fact-checkingclaims from night 1 of the Democratic debate —Fact-checkingclaims from night 2 of the Democratic debate
How to Watch the USA vs. France Women's World Cup Match Live Online for Free The problem with the 2019 FIFAWomen’s World Cupis it doesn’t really lend itself to most people’s working hours in the U.S. And taking a day off to watch theU.S. vs. Franceseems a bit excessive, even for the most dedicated of fans. You could sneak out of the office and take an especially late (and long) lunch. You might even just cash in some summer Friday goodwill and pack up early. But if you have to be at your desk (or tend to some other work duty) at 3 p.m. ET, there are options. Here are a few ways fans can tune in, along with all you need to know about the game. Thequarterfinal gamewill be held Friday, June 28 at 3:00 p.m. ET. Fox is the exclusive broadcaster of the Women’sWorld Cup. It’s airing those on the Fox broadcast channel and the FS1 cable channel. Telemundo carries the Spanish-language rights to the game, so you can also catch it there. If you’ve got a cable subscription, Fox will stream the game on itsFox Sports Gowebsite. That’s viewable to anyone who logs in with their cable username and password. If you don’t have a cable subscription though, there are still a number of options to catch the game. • Sling TV:You’ve got a seven-day free preview before the monthly fees, which range $25 to $40, kick in. • PlayStation Vue:The free trial is 14 days. Subscription packages start at $45 per month. • Hulu with Live TV:You can try the service free for a week. Once that’s up, you’ll pay $45 per month. • YouTube TV:After a seven day trial, you can expect monthly charges of $40. • Fubo TV:This sports-centric over the top service offers a seven-day free trial, then prices jump to $55 per month. • DirecTV Now:AT&T’s cable competitor will let you stream seven days for free and carries both Fox and FS1. Subscription costs, after the trial, start at $50 per month. The U.S. women’s team is the top ranked team in the world and the favorites to win theWorld Cup. France is hosting the tournament and desperately want to win the Women’s World Cup for the first time while on their home field. Ticket prices in France are as high as$11,000 per pairat this point. The semifinals begin on July 2 at 3pm ET, though the exact times haven’t been announced yet. Women’s World Cup finals begin on July 7 at 11:00 a.m. ET. —Who’s up for a big pay dayfrom the Women’s World Cup? —Women’s World Cup gets a new opponent:Europe’s heatwave —VAR instant replay techhas players and fans up in arms
Wealth managers head to Singapore as China concerns dim Hong Kong's lure By Sumeet Chatterjee and John Geddie HONG KONG/SINGAPORE (Reuters) - Some foreign wealth managers are scrapping plans to open offices in Hong Kong in favour of Singapore, as the rich begin to move funds from the Chinese territory where a new extradition bill has stoked public unrest, people familiar with the matter said. A mid-sized European private wealth advisory firm has abandoned a plan to set up its Asia arm in Hong Kong and will instead aim to launch it in Singapore, its London-based chief executive told Reuters. "We have been watching the situation in Hong Kong for the last few weeks and what we are seeing there doesn't give us much confidence," said the chief executive, on condition of anonymity due to the sensitivity of the matter. "For me, the most important thing is stability for clients because you don't want to go and invest $1 million-$2 million to set up operations and then one day you need to shut it down because your clients don't feel safe to operate in that market." Some Hong Kong tycoons have begun moving their personal wealth offshore as concerns deepen over a government plan to allow extraditions of suspects to face trial in China for the first time, Reuters reported earlier this month. The bill, which would cover Hong Kong residents and foreign and Chinese nationals living or travelling through the city, has been suspended. But protesters are now demanding it be scrapped amid broad concern it may threaten the rule of law that underpins Hong Kong's global financial status. For the wealthy, a key worry is that Beijing may eventually be able to seize their assets, leading them to weigh moving their assets offshore. Wealth managers mostly go where their clients prefer to park their riches. The uncertainty over the bill clouds the outlook for Hong Kong as a wealth management hub, one of the main pillars of growth in the former British colony, which has been losing ground to Singapore in recent years. In a survey published by trade publication Asian Private Banker last year, 58% of the respondents ranked Singapore as the most preferred offshore wealth management hub, followed by Hong Kong and Switzerland, respectively. The survey said Singapore had become particularly attractive because, compared to Hong Kong, it was "less connected to Mainland China from a regulatory, political, and financial perspective". Rahul Sen, a London-based global leader for private banking at headhunter Boyden, said three of his multi-office wealth advisory clients decided in the last few weeks to hire teams of bankers in Singapore after initially considering Hong Kong. Story continues "New teams that are being set up, they are asking why should they align with Hong Kong when the future of Hong Kong itself as an independent wealth hub is uncertain," Sen said. PROPERTY INVESTMENTS The head of Singapore's central bank said on Thursday that there were no signs of "any significant shift of business or funds" from Hong Kong to Singapore. Singapore property brokers, though, said they are seeing increased inquiries and visits from Hong Kong-based groups including real estate fund managers and family offices, or private investment vehicles of the rich. Ian Loh, head of investments and capital markets at Knight Frank Singapore, said the investors are looking at a range of properties – including offices and hotels - starting at around S$200 million ($147.74 million) and going to over S$500 million. Real estate in Singapore is an attractive asset class for rich individuals due to its affordability and growth outlook. Singapore prime office monthly rents climbed 24% on the year in Q1 2019 to hit $81.2 per square metre, according to research by Knight Frank. Rents in central Hong Kong rose 3.2% to $221.5 per square metre over the same period. "The events of recent weeks are likely to add more momentum to a trend that has emerged over the last 18 months where Hong Kong-based private investors and family offices have been looking actively at Singapore property assets," said Chris Marriott, CEO of Savills in Southeast Asia. Some analysts said it remained to be seen if bigger financial institutions would move assets out of Hong Kong or bypass it. "Singapore could be one of the beneficiaries as Hong Kong investors and high net worth individuals look to shift their funds out of Hong Kong," said Jenny Ling, director of office services at Colliers International. ​"(But) the likelihood of a knee-jerk reaction among companies to immediately vacate Hong Kong en masse as a result of the unrest is probably quite low." ($1 = 1.3537 Singapore dollars) (Additional reporting by Aradhana Aravindan in Singapore; Editing by Muralikumar Anantharaman) View comments
Arrowhead Pharma Heads Down Midday After Downgrade Investing.com - Arrowhead Pharmaceuticals took a tumble midday Friday following a research downgrade that argued the stock is now fairly valued. Arrowhead (NASDAQ:ARWR) shares sank about 6%. Cantor Fitzgerald cut the stock to neutral from overweight, leaving its price target at $24. It’s time for shares to take a breather after a two-rally that’s seen the stock rocket about 1,700% higher, Cantor Fitzgerald argued. Last month the stock was added to the S&P 600 Small Cap. Related Articles Apple moves Mac Pro production to China from U.S.: WSJ U.S. lags in export financing arms race fueled by China: EXIM report Singapore to allow virtual banks as part of move to open up market
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Edward Snowden Used Bitcoin to Pay for Servers Used in NSA Leak The serversEdward Snowdenused to leak thousands of documents to journalists were paid for using bitcoin (BTC), theNational Security Agencywhistleblower revealed at the Bitcoin 2019 Conference on June 27. Snowden was working as aCIAsubcontractor in 2013 when his leak revealed that telecom companies and governments were involved in “almost Orwellian” mass surveillance programs that swept up the phone records of unsuspecting Americans. Speaking via video-link fromRussia, he described the ability to exchange and transact without being watched and recorded “is the foundation of all rights” — and said bitcoin was helping to deliverprivacyin an age of heightened surveillance. He also warned of the detrimental impact that smartphones andsocial networkswill have on our right to privacy in the future, adding: “It used to be that governments could watch you, but now all of this happens with devices that we, ourselves, pay for. And while we do that privacy stops being the status quo and liberty stops being the natural state of things.” Snowden, who has been granted a three-year residency permit in Russia, also insisted that the principle behind having a right to privacy isn’t about having something to hide. Elsewhere during his appearance, Snowden dismissed criticism that bitcoin is mainly used by criminals, arguing: “There are a hell of a lot more criminals that use the dollar.” Last year, Snowden had voiced concerns about bitcoin — claiming that thecryptocurrency’sblockchainwas “devastatingly public” and prone to abuse. At the time, he expressed support forZCash, claiming that it was the “most interesting”altcoinon the market because of its privacy setup. • Coinbase CEO Praises Privacy While Allegedly Blacklisting Anonymous Transactions • 19% of World Population Bought Crypto Before 2019: Kaspersky Report • Coinbase Releases Key Findings on Crypto Awareness and Adoption in US • Iranian Authorities Confiscate 1,000 Bitcoin Mining Machines
Megan Rapinoe Doubles Down On Trump Dig Megan Rapinoe, co-captain of the U.S. women’s national soccer team, isn’t backing off her attacks on Donald Trump and his administration — even though the president bashed her in tweets earlier this week. Rapinoe said in Paris Friday that she stands by her declaration that she’s “not going to the fucking White House” if her team gets an invitation from Trump, whom she has called a racist and misogynist. She did say, though, she shouldn’t have used the expletive, because it will upset her mom. “I stand by the comments that I made about not wanting to go to the White House with exception of the expletive,” Rapinoe told reporters. “My mom will be very upset about that.” She said players strive through their competition to leave the game in a “better place and hopefully the world in a better place.” She added: “I would encourage my teammates to think hard about lending that platform or having that co-opted by an administration that doesn’t feel the same way and doesn’t fight for the same things we fight for.” “I’m not going to the fucking White House.” - @mPinoe pic.twitter.com/sz1ADG2WdT — Eight by Eight (@8by8mag) June 25, 2019 Rapinoe, who is gay, told a Sports Illustrated reporter last month: “I am not going to fake it, hobnob with the president , who is clearly against so many of the things that I am [for] and so many of the things that I actually am.” She added: “I have no interest in extending our platform to him.” Trump scolded Rapinoe Wednesday, tweeting that “Megan should never disrespect our Country, the White House, or our Flag, especially since so much has been done for her & the team.” He said she should first “WIN” the World Cup before talking about a White House invitation. Oddly, Trump veered into bragging about his efforts to lower black unemployment. Story continues Teammate Ali Krieger spoke up Wednesday to defend Rapinoe, saying the president is angered by women he “cannot control or grope.” Rapinoe has refused to sing the national anthem and doesn’t put her hand over her heart at the World Cup games to protest Trump’s policies. The midfielder said the back-and-forth with Trump hasn’t been distraction for the team, and has instead energized players. “We have an incredibly strong dressing room and we are very open with each other,” she said. “If anything, it fires everyone up a bit more.” Coach Jill Ellis isn’t worried, either. “I think this team has a remarkable focus ,” she said, the Guardian reported. “We all support Megan — she knows that. We know we have each others’ backs in there.” In regards to the “President’s” tweet today, I know women who you cannot control or grope anger you, but I stand by @mPinoe & will sit this one out as well. I don’t support this administration nor their fight against LGBTQ+ citizens, immigrants & our most vulnerable. — Ali Krieger (@alikrieger) June 26, 2019 Also on HuffPost Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost .
What Type of Annuity Is Best For Me? When you think about retirement, what's your biggest fear? If you're worried about running out of money, you're not alone. Survey after survey has found that building enough income to last through a long retirement is one of the top concerns for baby boomers and the generations behind them. SEE ALSO: Retirees: Don't Overlook Annuities. Really Of course, there's a good reason for their anxiety. Prior generations typically could rely on employer-sponsored pension plans, as well as Social Security, to provide them with guaranteed paychecks in retirement. But those pension plans are quickly disappearing. And the future of Social Security seems to be constantly in question. (As it is, if you have average earnings, the Social Security Administration says those benefits will replace only about 40% of your income .) Clearly, there's a growing need out there for another source of guaranteed income. According to the 2018 Retirement Confidence Survey from the Employee Benefit Research Institute, four in five workers expressed an interest in the possibility of adding a guaranteed lifetime income product to their portfolio, regardless of whether it was an in-plan investment option or a separate product purchased at the time of retirement. And yet, I wonder what the response would have been if that same study had used the word "annuity." Actually, I don't have to wonder. According to the 2018 Guaranteed Lifetime Income Study by Cannex, though 73% of respondents reported high interest in guaranteed lifetime income products, when the word "annuity" was used, a third expressed a lower interest in the same product. I get it. All annuities are not created equal -- and neither are the financial professionals who sell them. The contracts can be complicated. Fees and commissions used to be higher than they are now. And you still need a good guide to help you understand exactly what to expect -- and what to avoid. Story continues But annuities have seen a tremendous evolution over the past 30 years -- and especially recently. To broad-brush them all as unworthy is a mistake, particularly if you need additional guaranteed income in your retirement plan. I like to break up the annuity "world" into several segments, each of which has its own uses and may be implemented for people at different stages in life. A Matter of Timing First, annuities can be broken down based on when your payments begin: Immediate Annuities. I think of these as the old-school annuities our parents would have had. They are, for the most part, simple in concept: You give the insurance company a lump sum, and it promises to pay you income for the rest of your life and your spouse's life, or for a designated period. Just as you'd expect from the name, an immediate annuity begins paying income checks immediately upon being funded. There are many nuances beyond those basics, but the bottom line is that you lose control of the money you put into the annuity and shift all the risk to the insurance company that guarantees it. Who might be interested in this type of annuity? Although this was once the only option for anyone seeking a steady income stream in retirement, and is still often what comes to mind when people hear "annuity," it's fallen somewhat out of fashion because of the loss of control. Yet, for those whose No. 1 concern is an income stream they can't outlive--trumping concerns about inflation, growth or legacy planning -- this may be something they discuss adding to their financial toolbox. Deferred Annuities. Most annuities sold these days fall under the banner of the deferred annuity. Like immediate annuities, they are intended for income and have an insurance component, but they differ in that their incomes streams won't begin until a later date in the future. Deferred annuities allow their contract owners the opportunity to grow the value of the underlying contract using various crediting methods. Who might be interested in this type of annuity? Those who anticipate wanting a steady and reliable income in retirement but who may not need that income stream right now will likely consider a deferred annuity. Which one will largely depend on what crediting method is most in line with their goals and expectations. See Also: How Income Annuities are Taxed - and Why A Matter of Math Next, deferred annuities can be broken down based on how your payments are calculated: Fixed Rate Annuities. The growth rate for the contract value in a fixed rate annuity is guaranteed by the insurance company. The contract owner pays either a lump sum or a series of payments into the contract, and that sum is credited growth by the insurance company at a minimum fixed rate, usually pretty modest but hopefully enough to keep up with inflation. Who might be interested in this type of annuity? Because of the fixed, regular credits of interest, these tend to be suitable for folks who like to invest in similar instruments, such as CDs. Variable Annuities. These annuities have market exposure through sub-accounts that look and act like mutual funds and ETFs -- except the sub-accounts grow tax-deferred. The annuity works in two phases. During the accumulation phase, you contribute money and allocate it to the investment funds of your choice. Many times there are no investment restrictions, and your adviser can help you build a diversified portfolio to match your objectives and risk tolerance. Of course, market exposure comes with market risk, meaning that you could lose your contract's credits and principal if there's a significant market correction. During the payout phase, you receive income from your annuity most commonly as a series of monthly payments that last your entire lifetime and your spouse's lifetime. It is possible to take it as lump sum, but be aware of potential tax liabilities and potential surrender costs if you make a large withdrawal too early. Variable annuities can carry higher expenses and fees than other types. And they may become even more expensive if you add certain benefits (or riders), such as a living benefit that provides income even if you outlive your investment, and a death benefit that guarantees your beneficiaries will receive a certain minimum amount of money as a legacy. The insurance benefits you purchase are added expenses, which if used correctly, can create excellent value and are sometimes hard to beat. Who might be interested in this type of annuity? For people who want the gains that can come with market exposure and are OK with some volatility, variable annuities can be a great solution. Many times these annuities make the most sense for those who are further out from retirement. Fixed Index Annuities. These hybrid products combine features of both variable and fixed rate annuities. Your principal is guaranteed, as with a fixed rate annuity, but you also may get to participate in some market-related growth. There are many variations, but the most common types are cap-rate or participation-rate annuities. With a cap rate of 6%, for example, the annuitant will enjoy market increases up to 6% but no higher. With a participation rate, the insurance company allocates only a portion of the growth of the index to the annuitant -- typically 35% or higher. Both types usually come with the promise that you won't lose anything to the market -- it's just that your upside is limited. As with variable annuities, you can add living and death benefit features to fixed index annuities -- at a cost. Many fixed index annuities have no portfolio fees until you add benefits, which makes them appealing to investors who are looking for an alternative to bonds. Who might be interested in this type of annuity? For those who have some time before needing an income stream, and who would like the opportunity for higher gains but without the risk to principal that comes from being exposed to market risk, this absolutely makes sense. Especially as people approach retirement, it's imperative that they search for guarantees for a portion of their portfolio, but there are limited options, and often fixed index annuities can serve in this role. Some Final Thoughts These are just the annuity basics; there are many factors to consider when choosing the right product for you -- including liquidity, risk, fees, tax consequences and your time horizon. Annuities are not backed by the federal government -- they are the obligation of the issuing company, so it's important to shop around and carefully research any potential investment. Despite many improvements to today's annuities, it's still a good idea to consult with a tax professional and a financial adviser with a deep understanding of these products. See Also: Keeping Up to Date on Your Income Annuity Quotes Kim Franke-Folstad contributed to this article. Important Disclosures: Annuities are long-term investments designed for retirement purposes. Withdrawals of taxable amounts are subject to income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. Early withdrawals may be subject to withdrawal charges. Optional riders have limitations and are available for an additional cost through the purchase of a variable annuity contract. Guarantees are based on the claims-paying ability of the issuing company. Variable annuities are sold by prospectus only. Investors should carefully consider objectives, risks, charges and expenses carefully before investing. The contract prospectus and the underlying fund prospectus contain this and other important information. Investors should read the prospectus carefully before investing. For a copy of the prospectus contact your financial adviser. Securities offered through Securities America, Inc. A Registered Broker/Dealer. Member FINRA/SIPC. Advisory services offered through Cooper McManus, a Registered Investment Advisory Firm. Link Financial Advisory, Cooper McManus and Securities America are not affiliated. Comments are suppressed in compliance with industry guidelines. Click here to learn more and read more articles from the author. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA . EDITOR'S PICKS Know These 3 Things Before You Invest in a Fixed-Indexed Annuity 5 Mistakes NOT to Make with Annuities If You Hate Annuities, You May Not Understand Them Copyright 2019 The Kiplinger Washington Editors
Presidential candidate Pete Buttigieg: ‘I have six-figure student debt’ As Democratic presidential candidates take turns pitching radical solutions to the$1.5 trillion student debt crisis— everything fromdebt cancellationto free college — South Bend, Indiana, Mayor Pete Buttigieg weighed in on the debate, revealing that he and his husband have “six-figure student debt.” Responding to a question about free college during the second night of the 2020 Democratic presidential debates on Thursday, Buttigieg said: “College affordability is personal for us. Chasten and I have six-figure student debt. I believe in reducing student debt.” Buttigieg’s campaign spokesperson previouslyrevealed to the APthat both he and his husband have student loans that total to exactly $131,296. If elected, Buttigieg would be the first president with student debt. He graduated from Harvard University in 2004 and Oxford in 2007. The bulk of the debt was taken on by his husband, who pursued undergraduate and post-graduate degrees in education, hetold Vice. On the topic of free college, Buttigieg said that he believes lower- and middle-income students should be entitled to that benefit, because he doesn’t “believe it makes sense to ask working-class families to subsidize even the children of billionaires.” Buttigieg also said that the importance placed on attaining a college degree may be overstated. “Yes, it needs to be more affordable in this country to go to college. It also needs to be more affordable in this country to not go to college,” Buttigieg explained. “You should be able to live well, afford rent, be generous to your church and Little League, whether you went to college or not.” Other Democratic presidential candidates also addressed the student-debt crisis during the debate. Andrew Yang said he’s “got $100,000 in student loan debt,” and Congressman Eric Swalwell said that he was “the first in my family to go to college and have student loan debt.” Candidates like Massachusetts SenatorElizabeth Warrenand Vermont Senator Bernie Sanders have also called for massive debt cancellations to relieve graduates of the debt burden. Many experts — from the former top student loan official at the federal Consumer Financial Protection Bureau, Seth Frotman, to JPMorgan CEO Jamie Dimon — have said that the current crisis is the result of a “lousy system" of student lending. In an interview with Yahoo Finance, Dimon emphasized that “what we've done is a disgrace, and it's hurting America.” “I think they should look at all parts of student lending, fix the broken parts, and then forgive those people need forgiveness,” said Dimon. Across the United States, there are more than 44 million Americans holding $1.5 trillion in outstanding student loans. An increasing amount is turning sour — with around 11% in serious delinquency or in default in the first quarter of this year, according to theNew York Fed. While states likeMaineandCaliforniahave pursued — and some have even passed — a student loan “‘Bill of Rights” where they have appointed various authorities to supervise student loan servicers and ban “abusive” practices that hurt student borrowers, other states are still lagging behind in addressing the problem. — Aarthi is a writer for Yahoo Finance. Follow her on Twitter@aarthiswami. Read more: • Bernie Sanders unveils sweeping student debt cancellation plan • Over half of parents willing to go into debt to pay children’s college tuition • Household debt hits $13.6 trillion as student loan and credit card delinquencies rise • Elizabeth Warren unveils 'broad cancellation plan' for student debt • Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
3 Top Small-Cap Stocks to Buy Right Now Small-cap stocks can be a great hunting ground for investors, because these businesses are less well known and often have lots of growth runway ahead of them. We asked a team of Motley Fool contributors to each highlight a small-cap stock that they think is a great buy right now. Here's why they called outKeane Group(NYSE: FRAC),Charlotte's Web(NASDAQOTH: CWBHF), andTucows(NASDAQ: TCX). Image source: Getty Images. Chuck Saletta(Keane Group):No technology has done more tounleash America's energy resourcesin the past few years than hydraulic fracturing has. Indeed, it is widely credited for enabling the United States to become a top energy producer worldwide and for the country achieving net energy independence. From a producer's perspective, one of the biggest challenges with hydraulic fracturing is that wells tend to go into decline fairly quickly, requiring more drilling to maintain or increase overall energy output. However, the short lifespan of typical wells can be music to Keane Group's ears. Keane Group focuses on providing services throughout the lifespan of hydraulic fracturing wells, so the more drills are needed, the better the company's potential to profit. Like any company involved in energy production, Keane Group is exposed to the cyclicality in energy prices. As a result, maintaining a healthy balance sheet is important to assure the company's long-term success. With a debt-to-equity ratio around 0.9 and a current ratio around 1.5, Keane Group's balance sheet looks solid enough to enable it to ride through the ups and downs of a typical cyclical swing. From a geopolitical perspective, as tensions in the Middle East roar back up, the price of oil is rising in response. While nobody really wants war, history suggests that rising oil prices will eventually lead to more drilling, and thus more demand for Keane Group's services. Despite that combination of potentially bullish factors, Keane Group's shares recently touched all-time lows, making now a tempting time to consider investing. Sean Williams(Charlotte's Web):As someone who's followed the cannabis industry like a hawk for the better part of the past six years, I can think of few small-cap stocks that look more attractive than Charlotte's Web. Of course, Charlotte's Web isn't just your typical marijuana stock. It's actually a play on the rise of cannabidiol (CBD), the nonpsychoactive cannabinoid best known for its perceived medical benefits. In layman's terms, it won't get you high, and it may treat a variety of medical conditions, ranging from pain to anxiety. Alreadygenerating plenty of buzzprior to December, the outlook for CBD sales growth really took off after Congress passed and President Trump signed the farm bill. This bill legalized the industrial production of hemp, as well as hemp-derived CBD. This is important given that while CBD can be extracted from cannabis, hemp is considerably easier and cheaper to grow, and it's often rich in CBD with minimal tetrahydrocannabinol (THC), the cannabinoid that gets users high. Last year, Charlotte's Web wound up planting 300 acres of hemp that allowed for the extraction of CBD from 675,000 pounds of hemp biomass. Recently, the company announced that it wouldincrease its planted acreage by 187%to 862 acres in 2019 in order to take advantage of the incredible demand in the U.S. for CBD products. And in case I've failed to mention it, compound annual growth through 2022 for U.S. CBD products could be as high as 147%, per the Brightfield Group. Having ended 2018 with a presence in 3,680 retail outlets, Charlotte's Web increased its shelf space to more than 6,000 retail spots by the end of March. Its strong branding and increasing harvest are a big reason it has one of the highest shares of the hemp-derived CBD market in the United States. More important, Charlotte's Web is one of the very few cannabis-related stocks to be profitable on an operating basis (i.e., without the assistance of fair-value adjustments on biological assets or one-time benefits). Currently forecast by Wall Street to nearly double sales in 2019 to $137 million then increase revenue by 135% in 2020 to $323 million, yetvalued at less than 19 times 2020's earnings per share, Charlotte's Web and its $1.3 billion market cap look to be a bargain. Brian Feroldi(Tucows):Ask the average consumer to name a wireless provider and they'll probably sayVerizon,AT&T,orT-Mobile. That's because the big wireless providers spend lavishly on marketing campaigns to make sure that their names are always top of mind with consumers. However, alternative providers like Tucows often provide a better service for a cheaper price. That gives them a tremendous opportunity to capture market share as consumers learn that alternatives exist. Tucows operates a wireless service called Ting Mobile. This business offers a pay-as-you-use-it model that enables customers to save a bundle on their wireless bill. The average Ting Mobile user pays just $23 per month for their service. Ting's customers service is second to none, too. Customers who call are connected to a human without having to go through a frustrating phone tree. These benefits should help the company continue grabbing market share in the U.S. There's more to Tucows than just Ting Mobile, too. The company has two other businesses in its fold that are poised for long-term growth. The first is its internet-domain registration service. Tucows has been in this business for years and is one of the largest providers in the world. This is a steady-eddy cash cow business that pumps outconsistent profits. The second is a newer business called Ting Internet, which is a fiber internet business. The company wants to disrupt the home internet market in the same way that it is disrupting mobile. By offering attractive prices and a superior customer experience, this business should continue to take market share for years to come. In total, Tucows offers investors three attractive businesses that are all poised for long-term growth. That should be music to any small-cap investor's ears. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Brian Feroldihas no position in any of the stocks mentioned.Chuck Salettahas no position in any of the stocks mentioned.Sean Williamsowns shares of AT&T. The Motley Fool owns shares of and recommends Tucows. The Motley Fool recommends T-Mobile US and Verizon Communications. The Motley Fool has adisclosure policy.
Even The Strongest US Stocks Can’t Break Out – All Star Charts Microsoft, Apple, Amazon, Facebook – large-cap growth stocks had been market darlings in recent weeks, but their performance has broken down – at least from a technical perspective. That could be a cue for bulls to tread with caution, according to All Star Charts Institutional’s Top 10 Charts of the Week. “Last week we alluded to many of the ‘triple tops’ we were seeing in the major US indexes and how we thought it would be healthy for prices to consolidate further before attempting to break out,” All Star Charts wrote in a client note. “Unfortunately, we didn’t get that consolidation and prices exceeded their former highs as momentum diverged, quickly reversing lower. The confirmation of this failed breakout skews the risk to the downside and suggests that taking profits on longs and putting on shorts makes the most sense. In a rangebound tape, we were buyers down near support and therefore should be sellers up near resistance, positioning ourselves in a way where our risk is well-defined and we can ‘see what happens’ from current levels. We used the Russell 1000 Growth Index to illustrate this because large-cap growth has been one of the strongest areas of the market, so if it is struggling to sustain new highs then it’s unlikely other areas of the market will be able to either. Read the full Top 10 Charts of the Weekhere. For information about how to subscribe and receive the charts Wednesday, two days before before they publish on IPO Edge, contactAll Start Charts Institutional Sales.
No-deal Brexit planning 'destabilised' as government chief quits A street sign of points at Parliament Street and Whitehall in Westminster London. Picture dated: Monday February 4, 2019 Firms fear the departure of a top UK government official could ‘destabilise’ the government’s planning for a no-deal Brexit. Tom Shinner, who acted as director of policy and delivery coordination at the department for exiting the EU (DExEU) , is said to have quit to join the private sector. A spokeswoman for DExEU said: “Tom Shinner joined the department when it formed in July 2016 and since then has led the teams coordinating across Whitehall the government’s domestic policy and delivery preparations to leave the EU. “He will hand over after three years in post, and later this year will leave the civil service to take on a new opportunity in the private sector. “Careful succession planning has been put in place to ensure the department maintains its high standards of delivery.” READ MORE: British firms stockpile £6.6bn of goods in run-up to Brexit Shinner’s departure is seen by some as a sign of a lack of preparation for the 31 October no-deal cliff edge. Concerns are rising over Jeremy Hunt or Boris Johnson pursuing no deal if selected by Conservative party members to be the next prime minister. One source at a major UK manufacturers said: “If no deal had to be done, it needed to be pursued on 29 March [the first Article 50 deadline]. “Smaller businesses can’t afford to warehouse this time around, and due to the short time frame before Christmas and the position after the harvest, it would be even more catastrophic than a no-deal exit on March.” Others within business share his concerns. READ MORE: The major hole in Britain’s preparedness for no-deal Brexit Craig Beaumont, external affairs director at the Federation for Small Business (FSB), told Yahoo Finance UK: “Losing corporate memory is always destabilising, but especially so when the odds of a no-deal are rising fast and the 31 October deadline is only 17 weeks away. “Government must now inject fresh urgency its no-deal planning exercise, which will be much harder the second time around to engage people and indeed businesses.” Shinner’s departure has also hardened some in their opposition to Brexit. Nicola Horlick, Best for Britain supporter and CEO of Money&Co, told Yahoo Finance UK: "No deal planning is an unbelievably costly mess. The departure of the Brexit department's top civil servant all but confirms that. “We cannot continue to throw money down the drain. Brexit must be stopped to keep the country moving forward." READ MORE: Boris Johnson’s industrial strategy causes headache for business The CBI declined to comment, however highlighted their open letter to Conservative leadership candidates where they stated “Firms large and small are clear that leaving the EU with a deal is the best way forward. “Short-term disruption and long-term damage to British competitiveness will be severe if we leave without one. The vast majority of firms can never be prepared for no-deal, particularly our SME members who cannot afford complex and costly contingency plans.” View comments
What Should You Do When You Turn 59½? If you're nearing the big 6-0, don't fret too much about getting old. After all, 60 is the new 40, right? There are many 50- and 60-year-olds who are in prime health and feel like they are just hitting their stride. Not to mention the often-forgotten benefits of getting older, like discounts at McDonald's, Denny's, Chick-fil-A and KFC. SEE ALSO: Is 4% Withdrawal Rate Still a Good Retirement Rule of Thumb? Minor stuff aside, there are also some real financial benefits to reaching age 59½. Here are four things to do when you turn 59½ that will help you explore new opportunities and build a strong foundation for your future retirement. Re-evaluate Your 401(k) Fifty-nine and a half is the magic age when you can start taking money out of your retirement accounts without penalty. That doesn't mean it's time to drain your accounts, but it does give you more options. Use It as a Safety Net By now you've probably discovered the benefits of having an emergency or rainy-day fund. Having some cash set aside gives you incredible peace of mind, because you know that if you lose a job or your car breaks down, you won't end up in debt. Up until now, your only real options to bulk up such a fund were a savings or money market account that couldn't even keep up with inflation. Now that you're 59½ and the withdrawal penalty is gone, you can actually use your 401(k) as an easily accessible, tax-deferred safety net. In a retirement account, you can even invest some of the money for growth, though you do want to keep some in cash for emergencies. Remember that withdrawals from retirement accounts will be taxable, since you've never paid taxes on those funds. Make Catch-Up Contributions The IRS allows people 50 and older to contribute extra to their retirement accounts, both IRAs and employer-sponsored accounts. Doing so will not only build up your retirement savings, but it can lower your taxable income. A lower income can keep you in a lower tax bracket and make you eligible for more tax deductions, which saves you money on taxes. (For more, see How Much Can You Contribute to a Traditional IRA for 2019? and How Much Can You Contribute to a 401(k) for 2019? ) Story continues Consider an In-Service Rollover The major complaint regarding 401(k) plans is the lack of investment options available within a given plan. The average 401(k) plan has only eight to 12 options, according to the Financial Industry Regulatory Authority . That compares with the seemingly infinite options available on the open market. Once you reach age 59½ you may be eligible for an in-service rollover, which allows you to move 401(k) funds into an IRA without penalty even while you still work for the same employer. This is a unique opportunity to access better investments that is not available to most workers. Not only do you have more investment options within an IRA, but it also gives you greater flexibility and more control. See Also: How Can I Estimate the Income I'll Need in Retirement? Track Your Spending One of the hard things about planning for retirement when you're younger is that you have almost no concept of what your income needs and spending habits will be so far into the future. While you may not be planning on retiring for quite some time, it's still close enough that you have a better grasp on what your needs will be. Now is the perfect time to start tracking your spending in order to create a retirement budget. Having a detailed budget for retirement will help you determine when to retire as you will be able to see the trade-offs between working longer and the lifestyle you'll be able to afford in retirement. Don't Forget Health Care Now is an important time to be thinking about your health care. It's easy to assume that it's safe to retire now that you have access to all of your retirement savings or even if you wait until you're 62 and can start receiving Social Security benefits. The mistake that people make when retiring early is forgetting about health insurance. Even though you can access your money penalty-free now, you don't have access to Medicare until you are 65. If you're playing with the idea of retiring before 65, start researching your health care options today. Whether you make use of COBRA or buy an individual policy on the exchange, you need to make sure you have coverage until you reach Medicare eligibility. Consult a Financial Professional As you near retirement age, there is a lot for you to think about. In the coming years, you are going to be making a lot of major decisions that will affect you for the rest of your life. In times like these, it's best to consult with an experienced financial professional. Financial professionals help people evaluate their goals, analyze their options and come to decisions that they will be happy to live with for a lifetime. See Also: Social Security Spousal Benefits FAQs This information is designed to provide general information on the subjects covered; it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Strong Tower Associates and its affiliates do not give legal or tax advice. You are encouraged to consult your tax adviser or attorney. Comments are suppressed in compliance with industry guidelines. Click here to learn more and read more articles from the author. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA . EDITOR'S PICKS Retirees: Go Ahead and Spend More in the Go-Go Years True or False: Test Yourself on Social Security Claiming Strategies Top 5 Retirement Podcasts Everyone Should Listen To Copyright 2019 The Kiplinger Washington Editors
Daisy Ridley has cut off social media 'like a Skywalker limb' after trolling made her quit Daisy Ridley (Credit: Grant Pollard/Invision/AP) Daisy Ridley doesn’t appear to me missing social media one little bit, after binning her own accounts off in 2016. The Star Wars actress was targeted with online abuse after posting a message of support for victims of gun violence in the USA on Instagram. But asked what her current relationship with social media is, she told Buzzfeed : “Cut off like a Skywalker limb. Read more: Mark Hamill is ‘finished’ with Star Wars “Also when I want to see what my pals are up to, you can just Google it and go to Instagram.” She went on: “I honestly think now with social media and stuff, it’s great to have freedom of expression, but I do feel like people think opinions have so much weight. “I don’t really think bad vibes should have the sun shone on them. Like, I don’t want to read your thing.” Regrettably, she's not the only Star Wars star to have quit social media after receiving abuse from so-called fans of the series. Kelly Marie Tran, who played Rose Tico in Star Wars: The Last Jedi , was bullied off Instagram by racist and sexist trolls who were persistently harassing her. Kelly Marie Tran and John Boyega in Star Wars: The Last Jedi (Credit: Disney) In an op-ed for the New York Times , she wrote: “It wasn’t their words, it’s that I started to believe them. Their words seemed to confirm what growing up as a woman and a person of color already taught me: that I belonged in margins and spaces, valid only as a minor character in their lives and stories. “For months, I went down a spiral of self-hate, into the darkest recesses of my mind, places where I tore myself apart, where I put their words above my own self-worth. Read more: Hamill says Episode 9 is ‘a missed opportunity’ “Their words reinforced a narrative I had heard my whole life: that I was ‘other,’ that I didn’t belong, that I wasn’t good enough, simply because I wasn’t like them. “And that feeling, I realize now, was, and is, shame, a shame for the things that made me different, a shame for the culture from which I came from. And to me, the most disappointing thing was that I felt it at all.” Tran will reprise her role of Rose, with Ridley back as Rey, in Star Wars: The Rise of Skywalker, due out on December 19.
Chris Matthews Asks Kamala Harris: How Do You Not Hate White People? Chris Matthews Asks Kamala Harris: How Do You Not Hate White People? MSNBC host Chris Matthews scored the first major post-debate interview with the night’s runaway winner , Sen. Kamala Harris. Among his questions for the presidential candidate: How do you not have a “hatred for all white people?” Matthews began by trying to sum up Joe Biden’s argument against Harris, who went after the former vice president for both his cordial relationship with segregationist senators and his opposition to busing programs that she said benefited her personally. “I think ‘you had to be there’ was the message I think Biden was trying to use to explain his behavior with the segregationist senators, but you were there with regard to busing,” Matthews said. “And you talked in that debate about the hurt you felt when you heard him talking about his civil—in fact to some extent praising the civility of these old seggies,” he added using an oddly casual abbreviation. “What was the hurt?” Trevor Noah: Joe Biden’s ‘Time Might Be Up’ After Kamala Harris’ ‘Brutal’ Debate Takedown Harris explained that if the men Biden said he got along with had their way, she would not be a United States senator, nor would she be on the debate stage running for president. “Lester Holt would not have been asking questions on that stage,” she continued. “Barack Obama would not have been in the position to appoint Joe Biden vice president of the United States. So the consequences of their actions were very real and on the shoulders of a history in our country of really a very bad, awful, dark, dangerous, and lethal time.” MSNBC But “otherwise,” she said she has a “great deal of respect” for Biden and does not believe he is a “racist.” Later, after explaining that he prefers the word “ethnicity” to “race,” Matthews asked the candidate, given the racism she was subject to as a child from the parents of her friends, “How did you come out of that and not have hatred towards white people generally?” Whether it was intentional or not, those words directly echoed former Fox News host Glenn Beck’s assertion in 2009 that President Barack Obama had a “deep-seated hatred of white people.” Story continues Chris Matthews: ‘Hell to Pay’ If Democrats Don't Block Anthony Kennedy Replacement Seemingly taken aback, Harris, who is married to a white man, replied, “Most Americans do not conduct themselves that way, and most parents don’t conduct themselves that way, so there was no need to create a broad application because of that one experience. But we cannot deny that there are many children, black children in America who have had that experience. Ultimately, the interview ended with Matthews asking Harris whether she thinks Biden is “finished after tonight.” “No, I don’t think so,” she answered. “Listen, Vice President Biden has had a long career of dedicated public service, and he has done great things in his career, and I think he should be given credit for those things and for that work and for his dedication. I don’t think anyone can question his reason for doing what he does. I do believe that he cares about people, and he loves our country. So I don’t think he’s done, no.” Asked how he can fix the problem she created for him Thursday night, Harris said that was up to his “advisers and pundits” to figure out. Read more at The Daily Beast. Got a tip? Send it to The Daily Beast here Get our top stories in your inbox every day. Sign up now! Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
UK's May tells Putin that Russia must end 'irresponsible activity' LONDON (Reuters) - British Prime Minister Theresa May told Vladimir Putin on Friday Russia must end its "irresponsible and destabilizing activity" if relations between the two countries, soured the poisoning of a former Russian spy on British soil, were to improve. May also told the Russian president during their meeting at the G20 summit in Japan that she wanted the two Russians Britain says is responsible for the attack on Sergei Skripal in Salisbury last year brought to justice, her office said in a statement. "The prime minister said that the use of a deadly nerve agent on the streets of Salisbury formed part of a wider pattern of unacceptable behavior and was a truly despicable act that led to the death of a British citizen, Dawn Sturgess," the statement said. "(She) underlined that we remain open to a different relationship, but for that to happen the Russian government must choose a different path." (Reporting by Michael Holden; editing by Stephen Addison)
Winners of bfa HSBC Franchise Awards Announced ABINGDON, OXFORDSHIRE / ACCESSWIRE / June 28, 2019 /The 2019 bfa HSBC Franchise Awards took place on June 27 at the Vox, Birmingham. Designed to celebrate excellence in franchising from both franchisors and franchisees, the 32nd instalment of the awards, hosted by the British Franchise Association (bfa), saw franchising giants such as McDonald's claim an accolade, as well as companies only recently starting their franchising journey, such as Radfield Home Care. Two of the biggest awards on the night, the Franchisor of the Year and Franchisee of the Year, went to Driver Hire and Kev & Amy Popat, Right at Home, respectively. The winners of the awards are as follows... Franchisor categories Franchisor of the Year (gold): Driver HireFranchisor of the Year (silver): OSCAR Pet FoodsFranchisor of the Year (bronze): Window to the WombEmerging: Radfield Home CareBrand Awareness & Innovation: énergie FitnessLeadership & Culture: McDonald's RestaurantsSocial Enterprise: Wiltshire Farm Foods Franchisee categories Young Female: Jennie Mills, Rainbow InternationalYoung Male: Craig Bishop, Snap-on ToolsBusiness Transformation: Ed Pockney, Driver HireCustomer Engagement: Kev & Amy Popat, Right at HomeMulti-unit: Mark Sadleir, Window to the WombLifestyle: John & Elaine Warburton, Barking MadFranchisee of the Year: Kev & Amy Popat, Right at Home Driver Hire, which claimed the Franchisor of the Year award, and saw one of its franchisees win Business Transformation, has been shortlisted for the Franchisor of the Year accolade 13 times in the last 14 years, winning for the second occasion, proving itself as champions of ethical franchising. Pip Wilkins, CEO of the bfa, believes that the strength of the applications this year were indicative of an industry that is thriving: "Congratulations to everybody who won an award, and to all those shortlisted. The franchising industry is showing record growth. There are more franchise systems than ever, and there are more females and young people becoming franchisees. "Franchising is able to adapt to societal shifts in culture and needs too, which is a major advantage for businesses in the industry which thrive through change. The franchisees and franchisors that were shortlisted really reflect this. The sector is looking exceptionally healthy." Andy Brattesani, UK Head of franchising, HSBC, added: "As lang-standing supporters of the awards, it is always fantastic watching the industry come out in force. "Well done to all of the winners, and the categories show how diverse the industry is, both in terms of the breadth of services provided by companies, and also the opportunities this allows for franchisees to optimise their lifestyle and work culture." For more information about the awards or the British Franchise Association, emailpress@thebfa.org About the bfa The British Franchise Association (bfa) defines and enforces the ethical standards for business format franchising in the UK. Established in 1977, the association is a self-regulatory body proudly run by its members to champion the growth of the UK franchising sector. Promoting best practice through education and training, the bfa is a passionate advocate of excellence in the whole franchising community. The vision of the bfa is to empower, promote and connect people in business by becoming the leading educator in franchising. To support this vision the association has established a Franchise Training Academy to be the fundamental source of key skills and techniques, driving the adoption of best practice in the UK franchising sector. The education of potential franchisees and franchisors is at the heart of what the bfa is and does. Equipping prospects with a crucial understanding of franchising is essential not only to their success, but to the success of the whole sector. Please view press release image here:https://www.accesswire.com/users/newswire/images/550244/59a48bb8-0747-4370-80a4-de4e70b1b453.png SOURCE:British Franchise Association View source version on accesswire.com:https://www.accesswire.com/550244/Winners-of-bfa-HSBC-Franchise-Awards-Announced
Baldness ‘breakthrough’ as scientists claim to have found key to growing new hair from stem cells A cure for baldness may be only a hair’s breadth from success as researchers claim to have overcome one of the major hurdles to cultivating human follicles from stem cells. Researchers have previously grown hair from the cells, which can transform themselves into any part of the human body, but until now had little control over the process. However, a US team says it has developed a system that guides the cells to implant and develop in a way that replicates natural hair production. They used a biodegradable “scaffold”, made of the same materials as the dissolvable stitches used to close wounds, to help the human cells integrate with a mouse subject. Presenting the findings at the conference of the International Society for Stem Cell Research (ISSCR) in Los Angeles, the researchers described the advance as a ”critical breakthrough” that could help millions. “Our new protocol ... overcomes key technological challenges that kept our discovery from real-world use,” said Alexey Terskikh of Sanford Burnham Prebys Medical Discovery Institute in California. “Now we have a robust, highly controlled method for generating natural-looking hair that grows through the skin using an unlimited source of human [stem cells].” Male pattern baldness affects about 50 per cent of men over the age of 50, according to the British Association of Dermatologists, with many men suffering hair loss from puberty. Current treatments include the drugs minoxidil or finasteride , which have side-effects and have to be taken for life. Hair transplants, where follicle cells are extracted from other parts of the body and implanted in the head, can cost anywhere between £1,000 and £30,000. Dr Terskikh and colleagues are now looking to try out their technique in human subjects. The work was awarded a merit award by the ISSCR – but has not yet been published in a peer-reviewed journal and hurdles remain in scaling it up. In the study, the mice subjects were immunosuppressed to stop their immune system attacking the foreign stem cells. Story continues This could be overcome in humans by using stem cells from the intended recipient. The cells used in Dr Terskikh’s experiments were obtained from a blood sample and then reprogrammed to revert into stem cells – a process known as induced pluripotency. While there is a potentially ”unlimited” supply of these cells in the blood, this reprogramming process is still relatively costly with current techniques.
Nokia backs away from executive’s scathing comments on Huawei security fears Nokia has distanced itself from the comments by one of its most senior executives about alleged security risks posed by Chinese firmHuawei. Chief technology officer Marcus Weldon took aim at Huawei in an interview with the BBC, claiming that Nokia was a “safer bet” than its Chinese rival as a supplier for new 5G mobile networks. The Finnish multinational is in competition with Huawei and Ericsson to provide 5G equipment globally, but the US government has effectively banned the Chinese firm from involvement in America’s new mobile infrastructure. Donald Trump’s administration has also attempted to get other countries to follow its lead in freezing out Huawei. Referring to security vulnerabilities in Huawei’s equipment, Mr Weldon told the BBC: “Some of it seems to be just sloppiness, honestly, that they haven't patched things, they haven't upgraded. He added: ”But some of it is real obfuscation, where they make it look like they have the secure version when they don't.“ Huawei has been accused of leaving “backdoors” in its equipment that could allow spying on communications by Chinese intelligence agencies. A report by security firm Finite State this week found that more than half of Huawei’s kit has backdoors and vulnerabilities that could allow someone to remotely access it. The company denies that it has any links to security services and says it equipment is safe. But Mr Weldon said the UK government needs to take the issue of security very seriously. “That means being wary of adding Chinese vendors into network infrastructure, as long as these security vulnerabilities are either probably there or likely to be there based on past practices,” he said. He also claimed that restrictions placed on Huawei acted to balance out unfair advantages that the company had enjoyed. “It's fairness returning to the market,” he said. “We were disadvantaged in the past relative to the practices that the Chinese were allowed to have in terms of funding mechanisms.” In April, Huawei fought back against claims that it was funded in part by the People’s Liberation Army and China’s national Security Commission. Following the interview, Nokia released a statement saying that Mr Weldon's words do not reflect its official position. “Nokia is focused on the integrity of its own products and services and does not have its own assessment of any potential vulnerabilities associated with its competitors,” the company said. Huawei described Mr Weldon’s comments as “misleading”. In a statement, a spokesperson said: “We believe secure, resilient networks can only be delivered by collaboration across the whole industry, working to common standards on privacy protection and cyber-security, so that all participants can be judged equally. ”We have a proven track record of delivering secure, trustworthy and high-quality products to every major telecoms operator in Europe. Cyber-security remains Huawei's top priority and here, in the UK, we are subject to the most rigorous oversight compared to any competitors in our sector.“ It has been widely reported that the UK government is considering allowing Huawei to form ”non-core“ parts of Britain’s 5G network despite US concerns. The company’s equipment has been closely scrutinised by a body that includes staff from GCHQ. The oversight body has criticised the security “shortcomings” in Huawei’s equipment but has not found backdoors.
TSX rises 0.46 percent to 16,382.20 The Toronto Stock Exchange's S&P/TSX rose 74.47 points, or 0.46 percent, to 16,382.20. Leading the index were TransAlta Corp , up 6.6 percent, Alacer Gold Corp , up 5.3 percent, and Semafo Inc , higher by 4.7 percent. Lagging shares were TORC Oil & Gas Ltd , down 3.1 percent, Seven Generations Energy Ltd, down 3.0 percent, and Air Canada, lower by 2.2 percent. On the TSX 173 issues rose and 62 fell as a 2.8-to-1 ratio favored advancers. There were 4 new highs and 4 new lows, with total volume of 207.9 million shares. The most heavily traded shares by volume were Bombardier Inc , Encana Corp and Enbridge Inc. The TSX's energy group rose 0.38 points, or 0.3 percent, while the financials sector climbed 0.98 points, or 0.3 percent. West Texas Intermediate crude futures fell 2.37 percent, or $1.41, to $58.02 a barrel. Brent crude fell 0.06 percent, or $0.04, to $66.51 [O/R] The TSX is up 14.4 percent for the year.
CORRECTED-UPDATE 1-MetLife to sell Hong Kong insurance business to FWD (Corrects paragraph 8 to say FWD agreed to buy, instead of got regulatory approval) HONG KONG, June 28 (Reuters) - U.S. insurer MetLife Inc will sell its Hong Kong operations to FWD, the insurance firm owned by tycoon Richard Li, the companies said in a joint statement on Friday, without disclosing financial details. The deal is the latest in a series of acquisitions FWD has made in the region, and comes after MetLife shelved an earlier attempt to sell its Hong Kong business, worth over $500 million, to a mainland Chinese buyer. "The acquisition is another step towards fulfilling our ambition to build a leading pan-Asian life insurance platform," FWD Group Chief Executive Huynh Thanh Phong said. The deal highlights the attractiveness of Hong Kong's insurance businesses, which have been boosted by growing wealth in the city and Chinese visitors snapping up foreign currency-denominated products. Hong Kong's life insurance market is well-developed, with a life and health insurance premium to GDP ratio of 17.94% in 2017, Asia's second-highest after Taiwan, according to data from insurer Swiss Re. Hong Kong-based FWD has been aggressively expanding its Asian footprint in the last couple of years, mainly through acquisitions, as it seeks to grab a bigger share of the market from large global as well as local insurers. In March, Thailand's Siam Commercial Bank Pcl (SCB) said it had entered into exclusive talks to sell its life insurance business to the company. FWD, which agreed to buy HSBC Holdings' 49% stake in the London-headquartered lender's Malaysian life insurance joint venture last year, completed the deal in March. The firm's Asian presence includes Indonesia, Japan, Singapore, the Philippines, Thailand, and Vietnam. The company is also awaiting regulatory approval in China to launch a life insurance joint venture. The company plans to rename and rebrand the MetLife Hong Kong business, the statement said, adding that all existing MetLife Hong Kong policies will continue to be honoured by FWD following the change in ownership. (Reporting by Alun John; Editing by Rashmi Aich and Jan Harvey)
Constantine Reports Johnson Tract Re-sampling Results of 71.4 Meters Grading 20.70 g/t Gold, 4.85% Zinc and 0.88% Copper and Files Technical Report & Information Material for HighGold Spinout Vancouver, British Columbia--(Newsfile Corp. - June 28, 2019) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") is pleased to announce the filing of materials on SEDAR atwww.sedar.comfor the annual general and special meeting of shareholders to be held at 10:00 a.m. on July 25, 2019 at Suite 2800, Park Place, 666 Burrard Street, Vancouver, B.C. (the "Meeting"). At the Meeting, Constantine shareholders of record as of June 18, 2019 will be asked, among other things, to consider and approve the proposed spin-out of Constantine's gold assets into its wholly owned subsidiary, HighGold Mining Inc. ("HighGold"). As described in the Company's news release dated May 21, 2019, the spin-out will be conducted by way of a plan of arrangement (the "Arrangement") under the British Columbia Business Corporations Act. Pursuant to the Arrangement, Constantine shareholders will be entitled to receive one HighGold Share for every three Constantine Shares held, distributed on a pro rata basis. Upon completion of the Arrangement the total number of outstanding HighGold shares is anticipated to be 15,118,084. The following assets of Constantine will be spun-out to HighGold pursuant to the Arrangement: • the newly-leased Johnson Tract Au-Ag-Zn-Cu-Pb Project in Alaska; • the Munro-Croesus Project, the Golden Mile Project and the Golden Perimeter Project, in the Timmins Gold Camp, Ontario; • a Yukon joint venture project; and • certain royalty rights in Ontario. Constantine's flagship Palmer Zn-Cu-Ag-Au Project in Southeast Alaska will be retained by the Company. "Both the results of the re-sampling program at the Johnson Tract Project and positive headway made in the process of spinning out all of Constantine's gold assets into HighGold represent advances in the growth and evolution of Constantine that has been a significant part of the ongoing strategic planning for the Company," commented President & CEO, Garfield MacVeigh. "Constantine will continue to create shareholder value by advancing the Palmer Project and will allow shareholders to realize the value locked in the gold assets through their spinout into a separate entity. It is a very exciting time for our board, management and staff to see their efforts, both corporately and technically, create and augment this value." The Arrangement will be subject to ‎TSX Venture Exchange ("Exchange"), regulatory and court approval, the approval of the Company's ‎shareholders, as well as ‎management's and the board's continued discretion. Following completion of the Arrangement, the Company also intends to apply to list HighGold's common shares on the Exchange. The listing of HighGold's common shares on the Exchange will be subject to Exchange approval and HighGold fulfilling all of the requirements of the Exchange. For further information concerning the Arrangement, readers are encouraged to review the notice of meeting and management information circular describing the terms of the Arrangement, all of which are available on the Company's profile on SEDAR (www.sedar.com). The Board of Directors of Constantine has unanimously approved the Arrangement and recommends that shareholders vote in favour of the Arrangement. Johnson Tract Technical Report Coincident with the Arrangement filings, the Company has filed a technical report titled "NI 43-101 Technical Report for the Johnson Tract Project" dated June 27, 2019 by Brodie Sutherland, P.Geo, who is an independent "qualified person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The report was prepared for Constantine's wholly owned subsidiary, HighGold. The Property is located near tidewater, 125 miles (200 kilometers) ‎southwest of Anchorage, Alaska and includes the very high-grade Johnson Tract Au-Ag-Zn-Cu-‎Pb deposit along with excellent exploration potential indicated by several other prospects over a ‎‎12 km strike length.‎ The Project has been inactive since the mid-1990s. The report presents new assay results from a drill core re-sampling program completed in late 2018. The objective of the program was to confirm the location and grades of historic mineralization documented in drilling completed between 1982 and 1993. A total of 426 samples were taken across nine (9) drill holes and submitted to ALS Chemex laboratories in Vancouver, BC. Samples were of quarter-cut drill core taken from previously sampled intervals archived on site in secure storage. Table 1 is a comparison between historic data and a sub-section of the 2018 resampled drill holes reported in the NI43-101 Johnson Tract Technical Report referenced above. The data show a strong correlation between the historic and 2018 duplicates, for all the precious and base metals of interest. Table 1. Comparison of some 2018 resampled core drill intervals to historic results [["(meters)", "(meters)", "(meters)", "g/t", "%", "%", "%", "g/t"], {"Drill Hole": "JM-82-003", "Sample": "Historic", "From": "196", "To": "219", "Width*": "23", "Au": "1.63", "Zn": "15.33", "Cu": "0.94", "Pb": "2.46", "Ag": "12.12"}, {"Drill Hole": "JM-82-003", "Sample": "Re-sample", "From": "196", "To": "219", "Width*": "23", "Au": "1.17", "Zn": "16.66", "Cu": "1.04", "Pb": "2.54", "Ag": "11.00"}, {"Drill Hole": "JM-82-003", "Sample": "Historic", "From": "223", "To": "246", "Width*": "23", "Au": "2.21", "Zn": "6.43", "Cu": "0.16", "Pb": "0.10", "Ag": "2.38"}, {"Drill Hole": "JM-82-003", "Sample": "Re-sample", "From": "223", "To": "246", "Width*": "23", "Au": "2.42", "Zn": "7.05", "Cu": "0.18", "Pb": "0.13", "Ag": "2.77"}, {"Drill Hole": "JM-88-034", "Sample": "Historic", "From": "246.7", "To": "318.1", "Width*": "71.4", "Au": "20.94", "Zn": "5.21", "Cu": "1.23", "Pb": "1.51", "Ag": "9.81"}, {"Drill Hole": "JM-88-034", "Sample": "Re-sample", "From": "246.7", "To": "318.1", "Width*": "71.4", "Au": "20.70", "Zn": "4.85", "Cu": "0.88", "Pb": "1.28", "Ag": "8.16"}, {"Drill Hole": "JM-93-064", "Sample": "Historic", "From": "263.7", "To": "297.5", "Width*": "33.8", "Au": "9.00", "Zn": "3.48", "Cu": "1.26", "Pb": "1.08", "Ag": "7.76"}, {"Drill Hole": "JM-93-064", "Sample": "Re-sample", "From": "263.7", "To": "297.5", "Width*": "33.8", "Au": "6.94", "Zn": "3.71", "Cu": "1.39", "Pb": "0.85", "Ag": "7.83"}] *All intervals shown as apparent width, true width 60% to 90% of drilled widths The technical report concludes that the potential for discovery of additional mineralization at the Johnson Tract Project is considered very good. The most immediate opportunity is the Northeast Offset Target, interpreted as the fault displaced extension of the deposit. Limited historic drilling at this target has documented alteration and mineralization that shares the same characteristics of the main Johnson Tract deposit. Additional exploration drilling is clearly warranted. Multi-deposit, district-scale potential is supported by the presence of other mineral prospects, most notably the Difficult Creek prospect where similar tenor mineralization to the Johnson Tract deposit is documented. A total of 1,344 meters of drilling were completed at Difficult Creek by a former operator in 1983, outlining a large alteration system and up to 36.6 meters of 3.57 g/t gold, 1.8% zinc, 0.2% copper, 0.4% lead and 15.5 g/t silver in drill hole DC83-002. Additional drilling is recommended. Other prospects such as Easy Creek, Kona and South Valley show promising surface results and require further field work to establish drill targets. About the Company Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on premier North American mining environments. The Company's flagship asset is the Palmer Project, a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as operator. Constantine also controls a portfolio of high-quality, 100% owned, gold projects, and intends to proceed with a restructuring transaction whereby it would spin-out these gold assets into its wholly owned subsidiary, HighGold Mining Inc. (see Constantine news release dated May 21, 2019). These include the very high-grade Johnson Tract Au-Ag-Zn-Cu-Pb deposit, located in coastal south-central, Alaska and projects in the Timmins, Ontario gold camp that include the large, well-located Golden Mile property, the Munro Croesus Gold property, which is renowned for its exceptionally high-grade gold mineralization, and the more-recently acquired Golden Perimeter property. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses. Please visit the Company's website (www.constantinemetals.com) for more detailed company and project information. On Behalf of Constantine Metal Resources Ltd. "Garfield MacVeigh" President & CEO For further information please contact: Garfield MacVeigh, President & CEO or Naomi Nemeth, VP Investor RelationsPhone: 604-629-2348. Email:info@constantinemetals.com Darwin Green, VP Exploration for Constantine Metal Resources Ltd. and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release. Historic drill results have been compiled by the Company from reports, drill logs, and databases from previous work on the property by Anaconda Minerals Company, Westmin Resources Ltd. and others. The Company has also reviewed Johnson Tract drill core. Any historical estimates for the Johnson Tract project pre-date National Instrument 43-101. The 2018 Johnson resample program was managed by Brodie Sutherland, P.Geo and a qualified person as defined by Canadian National Instrument 43-101, and author of the technical report titled "NI 43-101 Technical Report for the Johnson Tract Project" dated June 27, 2019. Sample intervals for the 2018 sample program were selected based on historic results and where ½ core remained from previous sampling programs, the ½ core was cut by a rock saw into even quarters, with the same quarter being placed into a labelled plastic sample bag with sample tag. Samples were shipped by aircraft in sealed woven plastic bags to ALS Minerals' laboratory facility in North Vancouver, BC for sample preparation and analysis. Four acid digestion ICP (ALS method ME-ICP61) was performed for analysis of 33 elements: Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, and Zn. Gold analyses were performed on a 50 g sub-sample using ALS method Au-AA26; fire assay fusion with atomic absorption spectroscopy (AAS) finish. For samples that exceeded the upper detection limit of Au-AA26, ALS method Au-GRA22 was utilized - fire assay with gravimetric finish. For samples containing coarse Au, ALS method Au-SCR24, metallic screening at 100 microns on 1kg pulp with duplicate assay on screen undersize, was used. ALS Minerals operates according to the guidelines set out in ISO/IEC Guide 25. The elements silver, copper, and zinc were determined by ore grade assay for samples that returned values >10,000 ppm by ICP analysis. Notes: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Johnson Tract and Canadian gold projects and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45971
Market Morning: No China Promises, Democrats Debate, New Age Crossfire, Russian Stocks Bullish Asian Stocks Down, Europe Berates Iran on Nuclear Deal Chinese stocks (NYSEARCA:ASHR) are down this morningon newsthat President Trump didn’t actually promise Chinese President Xi Jinping a six-month hiatus on new tariffs, as widely reported in the media yesterday. So 25% tariffs on $300 billion Chinese goods coming into the US could come into effect at any time, possibly even right after the Trump/Xi talks end following the G20 meeting this weekend. Since signs are pointing to a global economic slowdown gathering momentum, this would be the first time since the 1930’s that significant tariffs would be instituted on the cusp of an economic recession. SEE:Canadian CBD Firm Alternate Health Acquires Blaine Labs On the Iranian front, Europe wants Iran to keep to its part of the nuclear deal, even though Iran isn’t getting anything it wants out of the nuclear deal, which is a lack of sanctions. Europe is forced to comply with these sanctions or risk being kicked off of the SWIFT international banking system, so there isn’t much that Iran is getting out of sticking to the old accords. Nevertheless, European officials urged Iran to do just that. “We will repeat to the Iranians that nuclear issues are not negotiable. We want them to stay in the accord, but we won’t accept them messing us around,” a seniorEuropean diplomat said. As to what will be done if Iran is “messing us around”, no word on that. Democrats Meet for Second Debate, Talk About Trump, Love Democratic party candidates gathered for a second debate last night, where they discussed, among other things, how to beat Donald Trump. One original idea came from Marianne Williamson, a candidate who has never before held any public office, but decided to channel Jackie DeShannon’s 1965 hit, “What the World Needs Now Is Love” maybe in an appeal to Baby Boomers. Williamson promised to “meet [Trump] on that field [of politics]” and “harness love for political purposes” emphasizing that “love will win”. Cheers erupted in the crowd on the prospect of victorious political love. Other highlights included front runner and former Vice President Joe Biden being excoriated for preventing California Senator Kamala Harris from being bused to school as a kid, and promising that if elected president, he would focus on, of all things, defeating Donald Trump. If Biden picks Williamson as his running mate, there might just be enough love to accomplish that, as long as Biden offers Harris a seat on the bus on the way to dropping her off at the Senate. New Age Beverages Gets Whipsawed In Short/Long Debate New Age Beverages (NASDAQ:NBEV) is in the spotlight in the cannabis sector this week, as conflicting reports have been released regarding the company.Grizzly Research reportsthat New Age may have been duped into buying a dying firm called Morinda, which it paid $75 million for in cash back in December, plus $10M in stock. Morinda is a multi-level marketing company in China, and Grizzly accuses it of inflating its financials with Morinda reporting higher figures that those it logged with Chinese regulators. However, New Age maintains that thereport is inaccurate, but has yet to release a detailed rebuttal. New Age logged a loss of $1.6 million last quarter, posting record revenues of $58 million, and its stock remains on the low end of a trading range established last September. Shares remain in a long term uptrend since 2016. Putin Bashes Liberals While Russian Stocks Threaten to Break Out “[Liberals] cannot simply dictate anything to anyone just like they have been attempting to do over the recent decades,” Russian President Vladimir Putin wasquoted as sayingduring a meeting with British Prime Minister Theresa May. “The liberal idea has become obsolete. It has come into conflict with the interests of the overwhelming majority of the population.” Also, the poisoning of a former Russian spy and his daughter on British soil with a nerve agent shouldn’t be considered a big deal. On the financial front in Russia, Russian stocks (NYSEARCA:ERUS) are threatening to break out to the upside, now at the highest levels since 2014, with the Ruble appearing to have been stabilized in a trading range ever since the oil collapse of that year that brought Russian stocks down in the first place. In signs that its economy is stabilizing, private sectorcredit loansare at record highs despite interest rates at 7.5%, and a bout of inflation appears to be under control, topping out at about 17% annual in 2015. Bitcoin Crash 3.0 Up Ahead As Volatility Explodes Bitcoin (BTC-USD) continues its epic earthquake, again, for the third time since 2013. Prices were as high as $13,756 on June 26 and fell to as low as $10,701 today, but are now back up to $11,863 at time of writing, but could be literally anywhere by the time you read this. Total market cap for all cryptocurrencies is down $50 billion since June 26 and remains 60% below all time highs set in December 2017, so we are nowhere near resuming a bull market, at least in price, if not in time. What the current volatility shows, once again, is that cryptocurrency values in dollar terms are not dependent on any sort of current events. MarketWatch columnist Mark Hulbertbelievesthat there is an 80% chance that Bitcoin prices will crash. He bases this prediction on the rate of its recent rise, which has been parabolic. He doesn’t give a bottom call to his predictions, which are basically taken from a different paper, though the most recent Bitcoin bottom came in at around $3,200 depending on the exchange you’re using to gauge price. The postMarket Morning: No China Promises, Democrats Debate, New Age Crossfire, Russian Stocks Bullishappeared first onMarket Exclusive.
Brazil's Petrobras says it has begun sale process for 4 refineries SAO PAULO, June 28 (Reuters) - Brazil state-controlled oil company Petroleo Brasileiro SA said on Friday it had begun the process for selling four of its refineries, as part of a broader plan to sell eight of them, the equivalent of half of its refining capacity in the country. Petrobras, as the company is known, said in a securities filing that it would sell the refineries Rnest, in the state of Pernambuco; Rian, in Bahia; Repar in Parana; and Refap in Rio Grande do Sul. On Thursday, Petrobras CEO Roberto Castello Branco said he expected to sell at least one refinery this year. (Reporting by Roberto Samora Editing by Chizu Nomiyama )
The Daily Biotech Pulse: Chiasma To Join R3K Index, EU Rejects Amgen's Osteoporosis Drug Application, Karuna IPO Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on June 27) • Arrowhead Pharmaceuticals Inc(NASDAQ:ARWR) (received fast track designation for its RNAi therapeutic for rare genetic liver disease associated with alpha-1 antitrypsin deficiency) • Odonate Therapeutics Inc(NASDAQ:ODT) • Ra Pharmaceuticals Inc(NASDAQ:RARX) • Repligen Corporation(NASDAQ:RGEN) • Zai Lab Ltd(NASDAQ:ZLAB) Down In The Dumps (Biotech Stocks Hitting 52-week lows on June 27) • Acer Therapeutics Inc(NASDAQ:ACER) • Aclaris Therapeutics Inc(NASDAQ:ACRS) (saidits hair loss drug candidate did not meet primary or secondary endpoints) • Caladrius Biosciences Inc(NASDAQ:CLBS) • Kaleido Biosciences Inc(NASDAQ:KLDO) • MOTIF BIO PLC/S ADR(NASDAQ:MTFB) • Neurometrix Inc(NASDAQ:NURO)(announced a strategic update in which it divulged plans to carry out restructuring) • Sellas Life Sciences Group Inc(NASDAQ:SLS) • VERONA PHARMA P/S ADR(NASDAQ:VRNA) • Zafgen Inc(NASDAQ:ZFGN) Stocks In Focus On The Radar Chiasma To Join the Broader Russell 3000 Index Chiasma Inc(NASDAQ:CHMA) announced it has been selected for inclusion in the broad-based Russell 3000 Index, effective July 1. The inclusion increases the company's visibility among institutional investors. Separately, the company issued a clinical trial update, suggesting that it expects to release top-line data from the OPTIMAL trial that evaluates its Mycapssa as a maintenance treatment of adults with acromegaly by the middle of the third quarter. If positive, the company said the data will support an NDA filing later this year. The stock rose 2.55% in after-hours trading. EU Rejects Marketing Application For Amgen's Osteoporosis Drug Amgen, Inc.(NASDAQ:AMGN) and Euronext Brussels-listed UCB said the companies have been informed by the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency it has adopted a negative opinion on the Marketing Authorization Application of their co-promoted Evenity for the treatment od severe osteoporosis. The companies will now have to submit a written notice for a reexamination by the CHMP. Evenity was approved by the FDA in April 2019 for the treatment of osteoporosis in postmenopausal women at high risk for fracture. Progenics Continues To Bicker With Activist Investor Velan Progenics Pharmaceuticals, Inc.(NASDAQ:PGNX) filed with the SEC the efforts it has taken to reach a settlement with its biggest shareholder Velan Capital L.P., which has taken up cudgels against the company demanding changes. The company said Velan has rebuffed its reasonable offer that included a one year standstill, designating two new independent directors and an incumbent direction not standing for re-election in 2020. The company said it is willing to reach a solution in the best interest of all shareholders. In response, Velan said Progenics' board is ducking its responsibility by not cooperating with its requests for two non-voting board observer seats in a bid to avoid having individuals in the boardroom who were willing to stand up to the troubling status quo. Sorrentio To Offer Shares And Warrants To Purchase Shares Sorrento Therapeutics Inc(NASDAQ:SRNE) intends to offer and sell, subject to market and other conditions, shares of its common stock and Series A, B and C warrants to purchase shares of its common stock in an underwritten public offering. The company said it intends to use the net proceeds for the continued clinical development of its RTX, CEA, CAR-T and CD38 CAR-T programs among other things. Arcturus' Inherited Metabolic Disorder Gets Orphan Drug Designation Arcturus Therapeutics Ltd(NASDAQ:ARCT) said the FDA has granted Orphan Drug Designation for its lead product candidate ARCT-810 to treat ornithine transcarbamylase deficiency – the most common urea cycle disorder that makes it difficult for the removal of toxic waster products as proteins are digested. The stock climbed 0.72% to $9.75 in after-hours trading. Clinical Trial Readouts Scholar Rock Holding Corp(NASDAQ:SRRK) is due to release final Phase 1 data for its spinal muscular atrophy drug candidate SRK-015 at the Cure SMA Annual Conference. Pfizer Inc.(NYSE:PFE) will release Phase 1b data for PF-06939926 in Duchenne muscular dystrophy at the Parent Project Muscular Dystrophy Conference 2019 Annual Conference. IPOs Karuna Therapeutics, which develops therapies for schizophrenia and other central nervous system disorders, priced its upsizedofferingof 5.578 million shares at $16 per share, which is the mid-point of the estimated price range of $15-$17. The company will list its shares on the Nasdaq under the ticker symbol KRTX. See more from Benzinga • The Daily Biotech Pulse: Decision Day For Regeneron-Sanofi, Vermillion Offering, PDL BioPharma CFO to Depart • The Daily Biotech Pulse: Genfit NASH Drug In China, Conatus Explores Sale, Gilead Stitches Up Immuno-Oncology Partnership © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
State Street Agrees to Pay $94.3M for Overcharging Customers On Thursday, as part of a settlement reached with regulators,State Street CorporationSTT agreed to pay $94.3 million for overcharging mutual fund customers and other clients consistently through concealed markups on back-office expenses since around 17 years. Notably, the settlement was agreed upon with the U.S. Securities and Exchange Commission (SEC), and Massachusetts Attorney General Maura Healey.The settlement resolved allegations on State Street for overbilling its customers, exceeding $170 million in relation to custody of their assets. "We regret these invoicing errors and the impact on our clients," the company said in a statement.Allegations & SettlementsPer the SEC, State Street was accused of overcharging clients on markups for transferring messages through SWIFT, which is a secured international payments network used by banks and other financial companies. Notably, around 5,000 clients paid more than $110 million as the overcharged amount.“Fund expenses make a big difference to mutual fund investors and advisers,” Paul Levenson, director of the SEC office in Boston, said in a statement. He added, “They have a right to receive honest information about what they're paying for.”Therefore, State Street’s charges include $40-million civil fine, and $48.8 million of disgorgement and interest in the SEC settlement along with a $5.5-million civil fine to Massachusetts.Though the bank did not admit or deny any wrongdoing, it was appreciated by the SEC for its cooperation. However, the settlement would be met by the bank’s existing reserves.Notably, since 2015, State Street started reviewing customer invoices, which resulted in reimbursing most customers who have been overcharged, and also improved the bank’s billing processes. It is also cooperating with the U.S. Department of Justice's civil and criminal divisions, which are investigating the invoices of State Street.In July 2016, financial regulators made State Street pay nearly $530 million to customers, who were overcharged on foreign currency transactions.ConclusionBanks across the globe have been facing increasing scrutiny for their business practices. Many of these firms paid billions of dollars as fines and compensation to settle lawsuits and probes. Many investors lost their hard-earned money as a result of such business malpractices. Encouragingly, such settlements help restore investors’ confidence in banks and their operations.Shares of State Street have lost around 12.3% over the past six months against nearly 11.6% growth recorded by the industry. The stock currently carries a Zacks Rank #5 (Strong Sell). Some Better-Ranked Stocks to ConsiderM&T Bank Corporation MTB has been witnessing upward estimate revisions for the past 60 days. Additionally, the stock has gained more than 19% in the past six months. It currently carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.BankUnited, Inc. BKU has been witnessing upward estimate revisions for the past 60 days. Also, the company’s shares have risen nearly 10.3% in the past six months. It has a Zacks Rank #2 at present.First Business Financial Services, Inc. FBIZ has been witnessing upward estimate revisions for the past 60 days. In six months’ time, this Zacks #2 Ranked company’s share price moved up more than 10%.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.Click to get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportState Street Corporation (STT) : Free Stock Analysis ReportM&T Bank Corporation (MTB) : Free Stock Analysis ReportBankUnited, Inc. (BKU) : Free Stock Analysis ReportFirst Business Financial Services, Inc. (FBIZ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Broke Iran Seizes 1,000 Crypto Rigs, Skips Bitcoin Mining Mosques As sanctions imposed by the United States continue to bite reducing government revenues and widening thebudget deficit, Iran has turned its ire to Bitcoin mining operations in the country that are mooching off the country’s heavily subsidized power. According toReuters, 1,000 bitcoin mining rigs have been seized by Iranian authorities in Iran’s Yazd Province. The bitcoin miners were located in two abandoned factories. It is estimated that the total consumption of the two mining farms was one megawatt. Iran is one of thecheapest countries to mine bitcoinfrom comparing favorably with China. A study conducted byElite Fixturesearly last year revealed that the cost of mining one Bitcoin in Iran was $3,217 against China’s $3,172. The cheap electricity is largely due to the huge subsidies the Iranian government offers. In 2017, for instance, Iran spent $45.1 billion on electricity subsidies. This was about 10.4 percent of the country’s annual GDP and around 15 percent of the total global energy subsidies according toRadio Farda. The seizing of the Bitcoin miners follows a statement by Iran’s Ministry of Energy earlier this week blaming the increased electricity consumption in the country on cryptocurrency mining, per Tehran-basedPressTV. According to Iran’s energy ministry, power consumption in the monthly period which ended on June 21, 2019 had surged by seven percent and this was an anomaly compared to other years. A spokesperson for the ministry, Mostafa Rajabi Mashhadi, said this was primarily driven by cryptocurrency mining activities: Read the full story on CCN.com.
1,000 Bitcoin miners have been seized in Iran Iranian authorities have seized around 1,000 bitcoin mining machines from two former factories, following an increase in electricity consumption, BBCreports. "Two of these bitcoin farms have been identified, with a consumption of one megawatt," Arash Navab, an electricity official, was quoted as saying in the report. Demand for power reportedly rose by 7% in June and cryptocurrency mining was thought to be the main reason. Earlier this week, there werereportsthat cryptocurrency miners in Iran will be detected and face power cuts. Mostafa Rajabi Mashhadi, an official from the country's state-run power generation and transmission company Tavanir, said that it is illegal to use the national grid for cryptocurrency mining.Bitcoin is increasingly being seen as a means to store wealth after U.S. dollar and gold by Iranian, per the BBC report.
Gold ETFs Are Having A Moment In the precious metals arena these days, gold and the related exchange traded funds are getting plenty of attention and rightfully so. Though it was flat Thursday, theiShares Gold Trust(NYSE:IAU) is up 10% this month and is one of several gold ETFs that has recently been flirting with or hitting 52-week highs. What Happened The $13.23 billion IAU is one of the largest gold ETFs in the world and holds over 9.4 million troy ounces of bullion in its trust,according to issuer data. IAU is up nearly 10% this year. “Global investors have increased their positions in gold exchange traded funds (ETFs) by $4.3 billion from May 14th, one day after the S&P 500 Index’s 2.4% trade tension driven drop, through June 20,”said BlackRock in a recent note. “This pushed the year to date total of ETF flows into gold focused products back into positive territory.” Why It's Important One of the primary reasons gold is rallying is expectations that the Federal Reserve will cut interest rates at some point this year and that, in turn, will weaken the dollar. TheInvesco DB US Dollar Index Bullish Fund(NYSE:UUP), which tracks the greenback against a basket of major developed market currencies, is down 1.63% this month. “Gold’s performance at times of geopolitical volatility underscores its potential value as a portfolio diversifier,” said BlackRock. “However, gold has also performed well amid strong equity markets this year as real interest rates fell.” Spot gold resides around $1,400 per troy ounce, a price area that if held, commodities market observers believe could usher in a new bull market for the yellow metal. What's Next Primary drivers of gold demand include global central banks, long-term investors, including those buying gold bars and coins and ETFs like IAU, and industrial users. However, short-term speculators remain important in driving gold prices. “Still, a high proportion of annual demand for gold is based solely on investment demand,” according to BlackRock. “This can expose the price of the metal to a large amount of speculation. The World Gold Council data suggests that only 59% of demand is for commercial uses; 26% of 2018 gold demand was for investment purposes while another 15% was demanded by central banks.” Disclosure: The author owns shares of IAU. Related Links: Here's Another Cheap ESG ETF Leveraged China ETF Perks Up See more from Benzinga • Fidelity Adds 11 Issuers To Commission-Free ETF Lineup © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Goldman Sachs CEO Hints Bank Might Launch ‘JPM Coin’-Like Crypto Goldman Sachs may ultimately take part in the crypto disruption of finance, according to its CEO, David Solomon. Ininterviewwith French news source Les Echos on Friday, Solomon said the bank “absolutely’ could follow JPMorgan Chase in launching a cryptocurrency. He further said that Goldman Sachs is carrying out “extensive research’’ on asset tokenization and stablecoins. Solomon continued: Related:JPMorgan to Start Customer Trials of Its ‘JPM Coin’ Crypto Asked about potential involvement with Facebook’s Libra cryptocurrency project, Solomon refused to comment on any discussions the bank may have with clients. However, he said “I find the principle interesting.” Tokenization and stablecoins are “the direction in which the payment system will go.” That said, it’s too early to say which platform might ultimately win out, according to the CEO. Related:Circle and Coinbase Open CENTRE Stablecoin Network to New Members As for crypto regulation, Solomon suggested that change is coming, “for sure.” “I think regulators around the world are watching what’s going on. They wonder how it will work and are very attentive to payment flows,” he said. After saying that cryptocurrencieswould only have valuein a dystopian economy back in January, JPMorgan revealed a month later that it was in fact working on one of its own. JPM Coin will initially run on top of Quorum, the private version of ethereum the bank developed in conjunction with EthLab, and could be used to settle a portion of transactions between clients of its wholesale payments business in near real time. The bankrevealedearlier this week that it is now starting trials of JPM Coin with clients. Goldman Sachs Towerimage via Shutterstock • Facebook’s ‘GlobalCoin’ Crypto Will Be Tied to Multiple Currencies: Exec • Binance Confirms Stablecoin Offering Coming Soon: Report
Do you really want athletes to 'stick to sports'? Want Read and React in your inbox each AM? Sign up here! TRENDING : LeBron is giving up No. 23 ..... Kawhi to meet with Lakers and Clippers ..... Celtics emerge as favorites to land Kemba Walker ..... Here are your Major League All-Stars ..... Tom Brady has a message for his doubters (Amber Matsumoto/Yahoo Sports illustration) Read and React: The Lead Here’s a light question for you to start your day: Do you really want athletes to just “stick to sports?” We (meaning the media) hear it all the time. STOP WITH KAEPERNICK TALK! I DON’T CARE WHAT LEBRON THINKS ABOUT TRUMP! TELL STEVE KERR TO JUST SHUT UP! And then I open up our daily traffic report Thursday and, what do you know, Megan Rapinoe vs. Donald Trump tops the chart by a wiiiiiiiiide margin. Same the day before. And after Rapinoe responded to the president’s latest tweet , I’d wager ANYTHING YOU WANT this story will top the charts again today. In contrast, our top-clicking actual Women’s World Cup story ( What’s happened to Alex Morgan? ) did less than a quarter of the traffic. We’re getting some mixed signals here. Sure, there is a lot of hate-clicking going on here, and that’s fine. But when the “hate” clicks outnumber the “like” clicks 4 to 1, what are we to do? Seriously, we’d like to hear from you. Shoot us an email and we’ll share the results of this mini-experiment next week. Now back to the sports … The women play France today at 3 ET in what many are calling the de facto Women’s World Cup Final. Will you be watching? Read and React: The Kicker TEREZ PAYLOR: Tyreek Hill optimistic about reinstatement KEVIN IOLE: Manny Pacquiao explains what it's like training old TIM BROWN: The story of Tommy LaStella, surprise All-Star Read and React: The Kicker 'Kimbrel. What is the country of origin?' Someone got a good deal on their Kimbrel jersey @jon_greenberg pic.twitter.com/KasUPvraR9 — Scott Doll (@NBC5Doll) June 27, 2019 Want Read and React in your inbox each AM? Sign up here!
Tillerson says Kushner conducted foreign policy without him WASHINGTON (AP) — Former Secretary of State Rex Tillerson cited an awkward encounter with President Donald Trump's son-in-law in a restaurant as an example of diplomacy being conducted behind his back when he was in the administration, according to a newly released transcript of a congressional hearing. Tillerson, who was fired by Trump in March 2018 , mentioned the story during a day of closed-door testimony before the House Foreign Affairs Committee about his rocky, 13-month tenure as secretary of state. He described his surprise to find that he happened to be dining in the same Washington restaurant while Jared Kushner and Mexican Secretary of Foreign Affairs Luis Videgaray had a private meal. The former top U.S. diplomat and CEO of ExxonMobil said he "could see the color go out" of the Mexican official's face when Tillerson greeted them at their table with a smile. "And I said: 'I don't want to interrupt what y'all are doing,'" Tillerson recalled for the committee. "I said 'Give me a call next time you're coming to town. And I left it at that." The account from the transcript released Thursday suggests that Trump's top diplomat was in the dark as the new administration was grappling with major foreign policy issues. Trump had harsh words for his former top diplomat in December after Tillerson said in rare public remarks that the president was "undisciplined" and did not like to read briefing reports. Trump called him "dumb as a rock" in a tweet. Tillerson described the restaurant incident as an example of one of the challenges he faced as secretary of state until Trump abruptly fired him over social media. He said it was a "unique situation" to have the president's son-in-law as a White House adviser, saying "there was not a real clear understanding" of Kushner's role and responsibilities. "No one really described what he was going to be doing," he said. "I just knew what his title was." Story continues Tillerson said there other examples. He noted that Kushner "met often" with Mohammad bin Salman, the crown prince of Saudi Arabia, and that the president's son-in-law requested that the secretary speak with an official from the kingdom to discuss a document they had been developing that was "kind of a roadmap" for the future of the relationship between the two countries. The foreign trips raised concerns, the former secretary said, because Kushner would not coordinate with the State Department or the local embassy in the countries he visited. Tillerson said he raised the issue with him but "not much changed." A committee member asked about a private dinner in May 2017 attended by Kushner, Steve Bannon, bin Salman and Prince Mohammed bin Zayed of the United Arab Emirates in which they discussed the plans by Saudi Arabia and U.A.E. to blockade the neighboring Gulf nation of Qatar, which hosts the headquarters of U.S. Central Command, in the coming weeks. Tillerson said he didn't know about any such dinner but that it would have made him "angry" if it had occurred, since he and others in the administration were caught off guard by the blockade a few weeks later. The committee did not cite a source for their information about the dinner. The White House said it did not occur and disputed the former secretary's broader criticism of Kushner. "This story is false and a cheap attempt to rewrite history. The alleged 'dinner' to supposedly discuss the blockade never happened, and neither Jared, nor anyone in the White House, was involved in the blockade," presidential spokesman Hogan Gidley said. "The White House operated under the belief the Secretary of State at the time, Mr. Tillerson, would and should know what his own team was working on." Gidley added that Kushner "consistently follows proper protocols" with the National Security Council and the State Department, "and this instance is no different." Bannon did not respond to a request for comment. The testimony, with Tillerson accompanied by a personal lawyer and a State Department attorney, took place in private last month. A transcript was released Thursday. There were large sections redacted, including some where he discusses issues related to an Oval Office meeting that involved the Russian Foreign Minister Sergey Lavrov and Ambassador Sergei Kislyak . He was prohibited from discussing private conversations with Trump and avoided certain highly publicized incidents, including reports he once referred to the president as a "moron." He told the committee he had never met Trump before being urged by him to take the job and he was stunned by the offer after his long career as an oil industry executive with extensive overseas experience, especially in Russia and the Middle East. Tillerson, who had been acquainted with Russian President Vladimir Putin since the late 1990s, said he told the leader during his first visit as secretary of state that relations with the United States were bad but could be improved if they worked to build trust. "I said the relationship is the worst it's been since the Cold War but I looked him in the eye and I said but it can get worse and we can't let that happen," he said.
10 major issues holding back women at work in the UK Women who display 'masculine' are disliked, while women who display 'feminine' traits are not considered for leadership roles. Photo: Monkey Business Images/REX/Shutterstock From ambition being frowned on to unhealthy company culture, there are countless barriers facing women at work. Analysis by professional training company Roar Training highlights 10 of the most common issues holding back female employees in the workplace. Unhelpful stereotypes An academic study earlier this year found almost three-quarters (74%) of female employees feel their workplace culture makes it more challenging for women to advance their careers than men – and 42% of men agreed. This has been known for a while now. In 2015, researchers told the Independent female board members were tied to unrealistic expectations based on unhelpful stereotypes. One study suggested women were more likely to be referred to as “bitchy”, “emotional” and “bossy” than their male colleagues. A survey of 1,000 female and 500 male small business owners showed more than half of respondents heard female bosses referred to as “bitchy” and “emotional,” compared with just one in eight male counterparts. And less than a quarter of men had been described as “bossy”, compared with almost 40% of women. Ambition seen as a bad thing Attributes displayed by men are often viewed differently when displayed by women, stopping countless hard-working women getting ahead in their careers. Psychology research has also found an issue with “likeability” in the workplace. Female workers who do not posses the qualities typically associated with women – “descriptive biases” such as being “caring”, “warm” and “deferential” – can be penalised and punished. Women who display more “masculine” traits like assertiveness and ambition are labelled as “bitchy”, “unfeminine” and “aggressive”, and so generally disliked. On the other hand, women who are not assertive and fit the gender stereotype of being gentle and kind are more liked in the workplace – but not considered for leadership roles. READ MORE: Many workers find themselves too far away from the right jobs Differing views on satisfaction between genders Satisfaction at work can mean a variety of things, as a highly personal issue. However, views on satisfaction in a job role also differ between genders. Story continues Research shows men tend to take chief satisfaction from financial reward and position, whereas women want to enjoy the quality of their days at work. A one-size-fits-all approach therefore may not cater for everyone when it comes to attracting and retaining staff. Unconscious bias Research suggests an unconscious gender bias affects workplace feedback and advancement. In an interview environment, women tend to be judged on their experience, whereas men are more likely to be judged on their potential. And interviewers are more to likely question women about their ability to balance life and work than men. In fact, a survey of 4,010 young mothers aged 18 to 30 showed almost two in five (39%) had been illegally asked in job interviews how being a mother would impact their ability to work. Unequal pay structure The gender gap shows no sign of equalising any time soon. Many women are paid considerably less money than their male counterparts with the same skill-set and experience. A recent report by the BBC revealed just how unequal pay structure is in the UK. In fact, further analysis shows nearly eight in 10 (78%) firms have a pay gap in favour of men, while only 8% of companies reported no pay gap at all. Data from the National Business Research Institute shows talking to your employer about salary, in most cases, won’t increase your salary. However, sharing evidence such as your experience, improvements in performance and examples of increased knowledge have a higher chance of landing a pay rise. READ MORE: Older workers could soon find it easier to prove age discrimination Working hours In a recent survey of 1,000 employees by Adler , almost half (48%) listed flexible working as their most-desired workplace perk. Brits work some of the longest hours in Europe . You could be forgiven for thinking this was to deal with peak periods or emergencies. However, research shows a high percentage of UK workers work more than 10 hours over their contracted hours on a regular basis. The result is exhausted employees. Studies show that when employees exceed more than 55 hours a week cognitive performance – emotional intelligence, problem-solving and capacity to reason – and work engagement levels decline. Company culture Studies show more than half (53%) of employees feel the culture of their workplace is holding them back from doing their job more effectively. In fact, a further 53% stated that they would consider moving jobs unless their organisation changes. A lack of career progression Studies show women are more likely to be promoted by other women than men. This has been put down to issues such as inherent bias. A year-long study by Cambridge University of 5,814 UK employees – 54% men and 47% women – found that workplace culture was creating a barrier to career advancement for women. In fact it was shown to be a bigger issue than balancing work and family life. READ MORE: UK workers “should be guaranteed 16 hours of work a week” Minimal training and support Many employees are struggling to advance at work because companies are failing to prioritise the right training. A study by The Hartford showed the training that employers were looking for most in millenials was written and oral communication skills, yet this training was one of the subjects being neglected the most. Lack of role models Without role models in the workplace, many employees can feel directionless and without the proper support. This is the case for many women. Only 297 of FTSE 100 board members are female, and only 13 CEOs and 21 Chairs in the FTSE 350 are women . It therefore falls to senior men and women to champion the inclusion of role models at work, including policies such as childcare and flexible working practices for both men and women.
Expect More Pain for TrueCar After Its CEO Departs TrueCar(NASDAQ: TRUE)prides itself on providing a superior car-buying experience. The company's online tools allow consumers to shop around car dealerships for the lowest price. However, TrueCar has seen its revenue growth rate steadily decline, disappointing investors and causing the stock price to dive lower. Unfortunately, there will likely be more pain ahead. A parade of departing executives has cast a shadow over the company's future prospects. Most notably, the company's venerableCEO Chip Perry resigned in June 2019. Image source: Getty Images. Trouble started to brew in mid-2018 after changes toGoogle'ssearch algorithmcaused a steep decline in TrueCar's website traffic. Search engine traffic has historically been a major source of new customers, who would find the company's car listings near the top of a search when researching which car to buy. TrueCar saw its revenue growth rate flatten out quickly after the Google algorithm change. After promising revenue growth as high as 20% for 2018, the company fell far short, delivering growth of 9%. TrueCar then slashed forward guidance for 2019 to imply mid-single-digit growth. This was a big reset from the 20% growth rate forecast just six months prior. The company pledged to fix the issues by modifying its car listing pages to better suit the new search engine algorithm. Quick fixes to the company's platform are now possible due to a recent rebuild of its technology systems. After a steep decline in the company's stock price resulting from the growth headwinds, it appeared as if things couldn't get much worse. Several quarters after the Google algorithm issues were first brought to light, the situation at TrueCar has continued to deteriorate.TrueCar's most recent earnings report, for Q1 2019, shows that the revenue growth rate has fallen further and net losses have increased as the company has spent more on platform changes to fix its issues. With weaker web traffic, brand advertisers have pulled back on spending. What started as a decline in customer transactions due to fewer website visitors has led to a decrease in advertiser confidence in the platform. In light of the additional headwind,TrueCar cut its forward revenue guidanceto a low-single-digit rate -- down from the mid-single-digit rate projected just three months earlier. TrueCar's problems have compounded, spawning doubts over its ability to address headwinds and reinvigorate revenue growth. It looks like TrueCar's executives have also started to throw in the towel. In the recent past, several high-ranking executives, including the CEO, CFO, and CTO, have all left the company. Given the company's financial underperformance, it's unclear how much of a choice the decision to leave was for some. The table below lists recent executive departures at TrueCar. [{"Announced Departure Date": "June 2019", "Executive": "Robert McClung", "Title": "Chief technology officer"}, {"Announced Departure Date": "June 2019", "Executive": "Chip Perry", "Title": "Chief executive officer"}, {"Announced Departure Date": "June 2019", "Executive": "Brian Skutta", "Title": "EVP of dealer sales and service"}, {"Announced Departure Date": "March 2019", "Executive": "John Pierantoni", "Title": "Interim chief financial officer"}, {"Announced Departure Date": "January 2018", "Executive": "Michael Guthrie", "Title": "Chief financial officer"}] Data source: TrueCar financial reports. The most notable departure was that of CEO Chip Perry. When Mr. Perry was brought in to run the company, investors had high hopes. He has had an impressive career that has included building the car-buying website AutoTrader into a $1 billion business. Perry had some initial success turning around TrueCar but hasn't been able to stabilize the business in the face of the headwinds experienced over the past year. Watching what insiders do is a good way to assess a company's future prospects because executives have the most complete picture of what is going on behind the scenes at a company. This is whyinsider buying of a company's stock can be a bullish indicatorbut is also why a flood of executive departures can be a troubling sign. If TrueCar has a bright future, executives should be reluctant to leave. TrueCar's investors have suffered quite a bit over the past two years. Unfortunately, signs point to more pain ahead. The company has been unable to stem the decline in web traffic nearly a year after its search engine challenges began, and now the company is facing additional headwinds from its brand advertisers. Investors should hope to see strong leadership when a business is facing operational pressures. Instead, several key TrueCar executives have left the company, leading some to wonder who will be left to right the ship. It's certainly possible that the company will recruit top talent to fill the void, but there is no guarantee that even a top leader would be able to quickly turn things around. While a turnaround is possible, TrueCar's ongoing struggles paint an uncertain picture for the future of the company. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Luis Sanchezhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool recommends TrueCar. The Motley Fool has adisclosure policy.
Trader Who Called Current Bitcoin Rally Warns of Altcoin ‘Dot Com Bubble’ Bitcoin (BTC) will continue to grow butaltcoinswill not feel the benefits, veteran trader and author Peter Brandt predicted in anew market forecaston June 27. Writing on social media, Brandt, who has become a vocal source oncryptocurrencyprices, said that unlike the previous bull market cycle in 2017, bitcoin’s gains would not have a knock-on effect elsewhere. He summarized: “Cryptomaniancs expect alts to do so again - they may be very disappointed.” Brandt made the comments as BTC/USD bounced off its local lows of $10,380 to challenge $12,000 once again. Havingreached $13,800this week, the subsequent correction spelled misery for altcoin traders, with many tokens losing far more than bitcoin while subsequently failing to recover their losses. For Brandt, the phenomenon has one classic predecessor - the dotcom boom of the early 2000s. “Following 2001-02 tech collapse, dotcoms with real value exploded,” he noted. “The ‘alt’ .coms went bankrupt.” Brandt has an admirable record when it comes to bitcoin predictions. Havingpreviously foretoldthe 2018 bear market, earlier in June, hetoldfollowers not to believe BTC/USD would stop at its then local highs around $8,000. According toCoinMarketCap, there are now 2,291 altcoins with a trackableblockchainand activity. As bitcoin continues to make up ground towards $20,000, however, their overall market share is at its lowest in two years. As Cointelegraphreported, bitcoin now dominates over 62% of the market, one of a number of metrics which haverecently returnedafter a long absence. • Bitcoin Market Dominance Climbs to Over 60% - Highest in Over 2 Years • Mike Novogratz: Bitcoin Will Stabilize Between $10,000 and $14,000 • Bitcoin Price Correction Continues as $13,800 Becomes Key to Further Gains • Winklevoss Twins Fortune Doubles in 2019 Reclaiming ‘Bitcoin Billionaire’ Status
Why Female CEOs Are Outnumbered by Jeffreys: Broadsheet for June 28 Good morning, Broadsheet readers! Democrats hold Debate No. 2, the NYT comes around to E. Jean Carroll’s story, and new female CEOs among top firms were outnumbered by Jeffreys. Kick back this weekend! 1. EVERYONE’S TALKING•Outnumbered by Jeffreys.Fortune‘s Shawn Tully parsed a new report on CEO appointments in the top 250 S&P 500 firms last year and came to a conclusion that might sound familiar: “Female CEOs are shockingly rare.”Of the 23 new CEOs among the top 250 companies measured by revenue last year, just one was a women: Michelle Gass of Kohl’s. In fact, Shawn points out that there were fewer appointments of women than those of men named Jeffrey and Michael—two each.Last year’s grand total of one was a dip from 2017, when a pair of women—Gail Boudreaux atAnthemand Geisha Williams at PG&E—got CEO gigs.In trying to get to the bottom of this “sorry record,” Shawn quizzed Marc Feigen, whose firm Feigen Advisors conducted the report. His explanation?First, poor planning. “Companies think about CEO succession three to five years out, yet they fail to develop a deep pool of female candidates who’d be ready for the top job in that short time-frame,” Feigen says.And second, bias. “You also can’t underestimate hidden bias by male bosses, who wrongly convince themselves that women won’t have the drive necessary to succeed in key jobs running a P&L.”Shawn himself actually points to an overarching third factor: companies’ adherence to “‘best practices’ that have guided the CEO succession dynamic for decades”—an adherence that means boards fail to identify and groom women to become superstars. “The tradition-bound succession process needs an upheaval,” he writes, “an all-out campaign to bring female talent to the top.”FortuneClaire Zillman@clairezillmanclaire.zillman@fortune.com 2. ALSO IN THE HEADLINES•Harris has a night.California Sen. Kamala Harris was the standout on Night Two of the Democratic debates. She pressed frontrunner Joe Biden on his past remarks on working with a pair of segregationists when he was in the Senate. “I do not believe you are a racist. And I agree with you when you commit yourself to the importance of finding common ground,” she told Biden. “But, I also believe—and it is personal—it was actually very hurtful to hear you talk about the reputations of two United States senators who built their reputation and career on the segregation of race in this country.”Fortune•Money talks.A big narrative of the 2019 World Cup is that the U.S. women are competing as they sue their employer for equal pay. Turns out, the players tried to hold talks on the matter prior to the tournament, but were never able to meet with U.S. Soccer President Carlos Cordeiro, despite attempts to do so.The team plays their quarterfinal match today.Wall Street Journal•Broadside.In an investigation into U.S. chipmaker Broadcom, EU antitrust czar Margrethe Vestager wielded a new weapon,the innocuous sounding “interim measure.”Deploying the little-used tool, theFTreports, represents “a new determination by the EU’s competition enforcer to crack down on technology groups.”Financial Times•Corroborating Carroll.TheNYT‘sDailypodcast featured a conversation with E. Jean Carroll and the two women with whom she shared the story of Donald Trump raping her when the alleged incident happened. The episode is certainly worth a listen, but note that it comes after the paperwas criticizedfor initially burying news of Carroll’s claims in its book section.New York TimesMOVERS AND SHAKERS: Andrea Lamari Walnehas joined Manhattan Venture Partners as partner in San Francisco. Partners HealthCare Organizationhas appointedAnne Klibanskias its first female CEO. 3. IN CASE YOU MISSED IT•Family tree.The daughter of Carlyle Group co-founder David Rubenstein is getting into the family business. Gabrielle “Ellie” Rubenstein, 31, launched Manna Tree Partners last year to invest in companies focused on healthy food. Its first bet was Vital Farms, a producer of pasture-raised eggs and butter.Bloomberg•Burkini ban.That pool where women were defying a burkini ban? It was shut down after lifeguards asked the city of Grenoble to do so, despite Europe’s ongoing heatwave. The episode is the latest row over Muslim women’s face- and body-coverings in a country with strict laws on secularism.Guardian•Open at Old Navy.ForFortune, Old Navy CEO Sonia Syngal writes about the apparel chain joining the Open to All campaign, “a coalition of businesses, civil rights and faith leaders, and communities across the country affirming their belief that when businesses open their doors to the public, they should be open to everyone on the same terms.”FortuneShare today’s Broadsheetwith a friend.Looking for previous editions?Click here. 4. ON MY RADARHe cyberstalked teen girls for years—then they fought backWiredA pregnant woman was shot in the stomach. She was charged in her baby’s death.Washington PostLizzo lands her first big beauty contractThe CutMarianne Williamson won’t make you feel better about America, but you’ll feel better about yourselfWashington Post 5. QUOTEWe don’t remember what we want to remember. We remember what we can’t forget.Journalist Lisa Taddeo in her new book 'Three Women,' which follows three women's sex lives for nearly a decade.
This Pot Stock's Price Target Rose by 81% in June Once considered taboo, the marijuana industry is no longer. Following the legalization of recreational cannabis in Canada, and the waving of the green flag of medical marijuana in 33 U.S. states, North America has become a hotbed for cannabis industry growth. While growth estimates vary wildly, there appears to be a consensus among the various projections that the compound annual growth rate of the global pot industry should remain in the double digits through the end of the next decade. That offers plenty of opportunity for long-term investors to realize sizable gains. Image source: Getty Images. If you were to glance throughout the industry, most marijuana stocks that have received coverage from Wall Street have price targets that are higher than where they currently trade. Then again, this is pretty common for stocks outside of the cannabis industry, too. But not all price targets are necessarily higher. Even in the fast-paced pot industry, Wall Street sees companies that might be overvalued, based on its price modeling. One such stock that had overstepped its bounds, at least based on share price, ismarijuana-based real estate investment trust(REIT)Innovative Industrial Properties(NYSE: IIPR). Throughout May, Wall Street's consensus price target on Innovative Industrial Properties, which is also known as IIP, was $85 a share. With the company's share price vacillating around this price target for much of May, the idea was that IIP was fairly valued. But IIP roared higher in June, hitting a closing high of $131 this past Tuesday, June 25. That would potentially have made IIP themost overvalued pot stock in the industry, based on its $85 price target... save for one fact: Wall Street's price target has increased bya lotin June. Although only two investment firms offer coverage on IIP, the consensus price target for the company rocketed higher by 81% in June to $154 a share, representing a nearly 18% upside from where it closed on Tuesday. Image source: Getty Images. Even in the high-growth and rapidly changing cannabis industry, it's unusual to see a company's price target increase 81% in a single month. Yet, a quick look at what IIP has been up to from a business perspective shows that Wall Street had little choice but to up its outlook to align with thecompany's improved growth prospects. Since the year began, IIP's portfolio of assets has doubled in size. As a cannabis REIT, IIP acquires land and facilities (grow farms or processing sites) that are used by medical marijuana growers in legalized U.S. states. It then leases these assets out (and occasionally develops facilities on land that it's purchased for its tenants) for long periods of time, thereby reaping the rewards of rental income. Many years down the road, should it choose to, IIP can sell its assets for a profit that can be reinvested back into new properties with a potentially higher yield. Generally speaking, the more properties Innovative Industrial Properties has in its portfolio, the higher its net operating income (NOI) should be. With the company acquiring 11 new properties in 2019, six of which are in California, and pushing its portfolio to 22 properties, profits should soar in the year that lies ahead. After generating $0.75 in earnings per share (EPS) in 2018 -- keep in mind that EPS and NOI aren't the same, with NOI taking higher precedence with REITs due to their dividends -- Wall Street's consensus is for $1.82 in 2019 EPS and $2.78 in 2020 EPS. In addition to increasing its top line by adding new properties, Innovative Industrial also passes along annual rental increases of 3.25%, and ties a 1.5% management fee to this higher rental base. Thus, the company is able to generate very modest organic growth, too, as its property portfolio expands. Image source: Getty Images. Expanding the size of IIP's portfolio is the key to its future growth and the reason its quarterly dividend hasgrown by 140% over the past year. But here's a caveat to this growth that works against investors: The only way Innovative Industrial Properties can increase its portfolio is with boatloads of cashvia common stock offerings. Even if IIP were to continue growing its portfolio, there would likely only be enough cash flow to fund one or two acquisitions a year. However, this is a company that's made 11 acquisitions in just the first half of the year. Therefore, like most REITs, IIP turns to selling its common stock from time to time to raise cash for future acquisitions. On the bright side, these property additions are what drive NOI and dividends higher over the long run. But selling stock can wind up having an adverse impact on existing shareholders. It tends to dilute the value of existing shares, and since NOI has more shares to be divided into, it can make a REIT appear more expensive. Make no mistake about it: At 45 times forward earnings, IIP isn't "cheap." And with the company aggressively acquiring new properties, the likelihood of another cash infusion, especially with its share price soaring in recent weeks, is growing. While I do remain bullish on Innovative Industrial Properties' long-term prospects, its parabolic rise in the near term is unlikely to continue. More From The Motley Fool • Beginner's Guide to Investing in Marijuana Stocks • Marijuana Stocks Are Overhyped: 10 Better Buys for You Now • Your 2019 Guide to Investing in Marijuana Stocks Sean Williamshas no position in any of the stocks mentioned. The Motley Fool recommends Innovative Industrial Properties. The Motley Fool has adisclosure policy.
Less than 1 percent of Huawei P30 Pro parts come from the U.S., teardown reveals It's no secret that Huawei's in big trouble given its recent placement on the U.Sentity list, which forbids American companies from selling parts to the Chinese smartphone giant. But how reliant is Huawei on U.S.-made parts when it comes to building smartphones? According to a recent analysis byNikkei(viaAndroid Authority), not very — the company used a very small number of U.S.-built parts for its recent flagship, theP30 Pro. SEE ALSO:Now Huawei's delaying its foldable phone, too Nikkei tore down the Huawei P30 Pro, finding a total of 1,631 parts. After examining the parts, the outlet concluded that 859 parts, or 53.2 percent, were made in Japan. 562 (34.4 percent) parts were made in South Korea, 83 parts (5 percent) were made in Taiwan, 80 parts (4.9 percent) were made in China, and just 15 parts (0.9 percent) were made in the U.S.Read more... More aboutHuawei,Teardown,Huawei P30 Pro,Tech, andSmartphones
AMZN Likely to Take Ad Market by Storm: FB, GOOGL on Alert! Competition in the digital ad market is heating up with Amazon AMZN closing in on the two leading tech players dominating the digital ad market, namely Facebook FB and Alphabet’s GOOGL Google. Various research reports are indicative of the fact that the e-commerce giant’s ad business will outpace the growth rate of the duopoly going ahead. Per a recent Juniper Research study, total spends on digital advertising is forecast to reach $520 billion by 2023, up from an estimated $294 billion in 2019. The firm predicts Amazon’s advertising revenues to reach $40 billion by 2023, which is a staggering 470% increase from the ad sales it generated in 2018. This equates to the company gaining an 8% share of the global advertising spend, which is more than double its current 3% share. Moreover, eMarketer projects Amazon to emerge as the “big winner” in digital advertising during 2019. According to eMarketer, US advertisers are likely to spend $11.33 billion on Amazon’s platform this year, up 53% year over year. The firm expects this figure to further reach more than $15 billion by 2020, accounting for nearly 10% of the total US digital ad spending. While shares of Amazon have rallied 11.9% in the past year, the Alphabet and Facebook stocks have declined 4.5% and 3.5%, respectively. What’s Aiding Amazon? Amazon’s greatest advantage is its wealth of data pertaining to a customer’s browsing and buying tendencies. Further, the heavy investment the company is making in machine learning is helping it offer more efficient targeting via its advertising platforms. Moreover, Amazon’s maximum digital revenues are recognized from its suite of sponsored ads. We note that advertisers are primarily interested in an online shopping site as that enables them to reach out to their target audience much faster. And undoubtedly, Amazon is the hub where they can tap highest number of shoppers. Going by a Feedvisor study published in March, two-thirds of respondents, who purchased products on Amazon, have started surfing new products on its portal, compared with one-fifth who used Google. This is nothing new. Earlier, last May, an Adeptmind survey found that nearly half of US internet users started their product searches on Amazon compared with a third on the rival search engine of Google. We believe, with so much of room to grow, Amazon can pose a real challenge to the two market stalwarts. Should FB, GOOGL Feel the Heat? Facebook generates substantially all its revenues from selling adverts to marketers. The company’s focus to develop new ad products on Instagram and other platforms has aided it to witness a significant uptick in online and mobile advertising in a short span of time. However, advertising being the major source of revenues, the loss of marketers to other platforms can hurt the company’s top-line growth, going forward. Meanwhile, a recent slowdown in Google’s ad revenue growth sparked concerns that advertisers are shifting some spending to digital rivals. Last year, a CNBC report cited two media agencies to affirm the switchover of 50-60% of certain brands’ ad budgets from Google Search to Amazon. Notably, per eMarketer, the combined share of the duopoly might take a hit for the first time this year, despite an uptrend in revenues. Also, Juniper Research corroborates that Google’s advertising revenues will exceed $230 billion by 2023. However, its share of digital advertising spend will slide 1% over the next four years. Further, the growing strength of rival platforms like Amazon and Baidu BIDU is a dampener, adds the firm. While Facebook carries a Zacks Rank #2 (Buy), Amazon and Alphabet have a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Will you retire a millionaire? One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.” Click to get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportBaidu, Inc. (BIDU) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Fiore Gold Ltd. Reports Commissioning of the Primary Crushing Circuit at Its Pan Mine, Nevada VANCOUVER, BC / ACCESSWIRE / June 28, 2019 /FIORE GOLD LTD. (TSXV:F.V) (FIOGF) ("Fiore" or the "Company") is pleased to announce that commissioning of the primary crushing circuit at its 100% owned Pan Mine in Nevada has commenced, with all equipment installed and operational and the first ore put through the circuit on June 25th, 2019. Tim Warman, Fiore's CEO commented, "The team at our Pan Mine has done a great job with the design and installation of the primary crushing circuit, and it's great to see the first ore running through the plant this week. We don't anticipate a lengthy commissioning process, and with the circuit operating we should see higher gold production through increased gold recoveries as well as improved mining efficiency as we mine to stockpiles rather than having to blend rock and clay ore directly on the leach pad." Up until now, Pan has been a Run of Mine ("ROM") operation where blasted ore is hauled from the pit and placed directly on the leach pad. Blending rocky ore with more clay-rich ore ensures adequate permeability and stability of the leach pad. Metallurgical testing has shown that primary crushing will increase both the overall gold recovery and the rate of gold recovery. At the present ore mining rate of 14,000 tons per day, the crushing circuit will produce an estimated 6,000-7,000 additional gold ounces per year. Technical Disclosure The scientific and technical information relating to Fiore Gold's properties contained in this press release was approved by J. Ross MacLean, Fiore Gold's Chief Operating Officer and a "Qualified Person" under National Instrument 43-101. Corporate Strategy Our corporate strategy is to grow Fiore Gold into a 150,000 ounce per year gold producer. To achieve this, we intend to: • continue to grow gold production at the Pan Mine, while increasing the resource and reserve base • advance exploration and development of the nearby Gold Rock project • acquire additional production or near-production assets to complement our existing operations On behalf of FIORE GOLD LTD. "Tim Warman"Chief Executive Officer Contact Us:info@fioregold.com 1 (416) 639-1426 Ext. 1www.fioregold.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, expectations regarding the primary crushing circuit, estimates and expectation that the crushing circuit will produce additional gold ounces and increase gold recoveries, commissioning of the crusher system the crushing circuit will improve the efficiency and productivity of mining operations, expectations regarding the Pan Mine's future performance, potential to extend the mine life at the Pan Mine, , expectations for production at the Pan Mine, advancing exploration and development of the Gold Rock project, goal to become a 150,000-ounce producer, goal to acquire additional production or near production assets, and other statements, estimates or expectations. Often, but not always, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "targets", "forecasts", "intends", "anticipates", "scheduled", "estimates", "aims", "will", "believes", "projects" and similar expressions (including negative variations) which by their nature refer to future events. By their very nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fiore Gold's control. There can be no assurances that the finance lease transaction with First National Capital will be closed and, even if all final documentation is executed, there can be no assurance that we will meet all the requirements to access the funds under the finance lease transaction. The purchase of the crusher system is subject to the availability of the equipment and performance of suppliers. These statements should not be read as guarantees of future performance or results. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, as well as a number of assumptions made by, and information currently available to, the Company concerning, among other things, anticipated geological formations, potential mineralization, future plans for exploration and/or development, potential future production, ability to obtain permits for future operations, drilling exposure, and exploration budgets and timing of expenditures, all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fiore Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to vary materially from results anticipated by such forward looking statements include, but not limited to, risks related to the Pan Mine performance, risks related to the company's limited operating history; risks related to international operations; risks related to general economic conditions, actual results of current or future exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; uncertainties involved in the interpretation of drilling results, test results and the estimation of gold resources and reserves; failure of plant, equipment or processes to operate as anticipated; the possibility that capital and operating costs may be higher than currently estimated; the possibility of cost overruns or unanticipated expenses in the work programs; availability of financing; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities; the possibility that required permits may not be obtained on a timely manner or at all; possibility that the Gold Rock Record of Decision will be appealed and that such an appeal may be successful; changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Fiore Gold operates, and other factors identified in Fiore Gold's filing with Canadian securities authorities under its profile at www.sedar.com respecting the risks affecting Fiore and its business. Although Fiore has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. Fiore disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. SOURCE:Fiore Gold Ltd. View source version on accesswire.com:https://www.accesswire.com/550195/Fiore-Gold-Ltd-Reports-Commissioning-of-the-Primary-Crushing-Circuit-at-Its-Pan-Mine-Nevada
Tiger Reef Closes Major Financing, Updates Path Into $492M Cannabis & CBD Clean Energy Space MIAMI, FL / ACCESSWIRE / June 28, 2019 /Tiger Reef, Inc. (OTC PINK: TGRR) ("Tiger Reef" or the "Company"), an emerging leader in cost-efficient clean energy solutions targeting the CBD and legal Cannabis markets and producer of ultra-premium rums under the Tiger Reef®brand designation, is excited to announce the formal closing of a new financing deal that may ultimately provide the Company with up to $7.6 million in new financial resources. J. Scott Sitra, Tiger Reef's President and CEO, stated, "After many false starts, delays, and negotiating impasses, it brings me great pleasure to announce Tiger Reef now has the financing to resume full operations and grow into the long-term vision we all share. With this backing, we will prepare to dramatically expand our footprint in the $492 million cannabis clean energy market and finalize documentation for importing our ultra-premium rum products into the $2.7 billion US rum market." Pursuant to the terms of the new financing deal, GPL Ventures, LLC is providing Tiger Reef with up to $100,000 in new bridge financing with the intent of investing up to a further $7.5 million through a planned Regulation A Offering. Tiger Reef has already begun deploying bridge funds to retain Get OTC Current, an accounting firm specializing in OTC listed companies, through which the Company has obtained Alternative Current Reporting status. Get OTC Current will remain on retainer to keep Tiger Reef current on an ongoing basis. The Company also used the bridge funding tranche to change its transfer agent to Olde Monmouth Stock Transfer, Inc. and retain legal counsel to prepare and file the planned $7.5 million Regulation A Offering. Management anticipates that it will take up to another three months to bring the Company to file and have the SEC declare its Regulation A Offering "effective", after which the Company will use the Reg A proceeds to: • Launch new CBD and cannabis solar energy development and operations initiative; • Build a substantial portfolio of solar and clean energy projects in tax favorable jurisdictions; • Finalize regulatory approval for the importation of its ultra-premium Tiger Reef branded rum into the US market; • Become debt-free through the settlement of all outstanding debts and accounts payable; • Explore new growth and expansion opportunities within its target markets through strategic M&A; and • Commence an investor relations program to keep shareholders appraised of new and ongoing events far more regularly in the future. "It's extremely exciting to finally have this deal nailed down," continued Mr. Sitra. "This paves the way for an aggressive path forward for Tiger Reef, and I truly look forward to sharing the Company's milestone achievements with our dedicated shareholders as we significantly ramp up operations over coming weeks and months." About Tiger Reef Tiger Reef, Inc. is a developer and operator of solar and clean renewable energy projects focused on reducing overall energy costs and the carbon footprint for Cannabidiol (CBD) producers and legalized marijuana growers. Tiger Reef also has developed a line of ultra-premium rums under the Tiger Reef®brand. For more information, visitwww.tigerreefinc.com. Forward Looking Statements Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Tiger Reef, Inc. ("Tiger Reef") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Tiger Reef's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K. Tiger Reef Investor Relations 949.264.1475ir@tigerreefinc.com Press & Media Inquiries EHC Branding Agencyinfo@ECHBrandingAgency.com(626) MJ-BRAND SOURCE:Tiger Reef, Inc. View source version on accesswire.com:https://www.accesswire.com/550220/Tiger-Reef-Closes-Major-Financing-Updates-Path-Into-492M-Cannabis-CBD-Clean-Energy-Space
Bitcoin SV (BSV) Pumps 21% After Surprise Mention on Joe Rogan The value of Bitcoin SV (BSV) rebounded 21% on Friday morning, fresh off the back of a surprise mention on the Joe Rogan Experience. BSV’s gains outpaced the broader market, which rebounded 10% just hours after $83 billion exited the cryptocurrency market in a flash. Duringepisode #1318of the JRE podcast with prominent Twitter personality Hotep Jesus, the subject of Bitcoin SV popped up. As part of a larger conversation about the monopolous power of centralized social media platforms, attention turned to the revolutionary potential of blockchain. Producer of the Joe Rogan podcast, Jamie Vernon (‘Young Jamie’), briefly mentioned the efforts of a friend who is attempting to host podcasts on the blockchain. That blockchain isn’t thePewDiePie fronted DLive, nor the veteran blockchain social media network,Steem. But according to Young Jamie, it might be Bitcoin SV. “My friend uploaded an MP3 to the…BSV network maybe? It’s just very confusing…It might not be BSV, I might be wrong…”
Big Banks Clear Fed's Stress Test, ETFs Rally U.S. banking biggies have cleared the key Stress Test conducted by the Federal Reserve, barring the U.S. division of Credit Suisse. Regulators allowed a majority of the 18 institutions to raise dividends and buy back shares. However, Credit Suisse has a weak capital planning process, according to the Fed. JPMorgan Chase and Capital One struggled a bit with both required to adjust their capital plans in order to conform to the central bank's minimum criteria. The go-ahead was especially big for Deutsche Bank AG as it had been unsuccessful in the past tests. The test reaffirms big banks’ ability to endure severe economic crisis. A Vortex of Dividend Hike Announcements Goldman SachsGS boosted its quarterly dividend by nearly 50% to $1.25 a share from 85 cents, and authorized a $7-billion stock repurchase program, up from $5 billion a year ago. J.P. Morgan ChaseJPM raised its dividend to 90 cents a share from 80 cents. The bank might also buy back up to $29.4 billion worth of stocks under a new program, compared with $20.7 billion last year. Bank of AmericaBAC announced a dividend hike to 18 cents a share from 15 cents and can repurchase up to $30.9 billion in stocks.Wells FargoWFC lifted its dividend payout to 51 cents a share from 45 cents and might buy back $23.1 billion in shares. CitigroupC raised its dividend to 51 cents a share from 45 cents and can repurchase $21.5 billion in stocks.Morgan StanleyMS hiked its dividend to 35 cents a share from 30 cents and can buy back $6 billion in stock. Shares of these companies naturally picked up. Morgan Stanley (up 1.2% on Jun 27), Citigroup (up 1.4%), Wells Fargo (up 1.1%), Goldman Sachs Group (up 1.2%) and JPMorgan Chase (up 0.3%) — all rallied on Jun 27. Market Reaction The news boosted the financial sector on Jun 27.U.S. Financials iShares ETFIYF andS&P 500 Financials Sector SPDRXLF gained about 0.9% and 1% each on Jun 27. The gains were undeterred by talks that the Fed might cut rates this year and despite the fact that the benchmark treasury yield’s 4-bp fall to 2.01% from the day before on a safe-haven rally. Some parts of the yield curve have, in fact, inverted, which is a negative for bank stocks. Still, encouraging stress test results and a string of announcements about shareholder value maximization pushed financial ETFs northward. ETFs in Focus Investors may be interested in investing in ETFs heavy on J.P. Morgan, Citigroup and Wells Fargo. These areiShares U.S. Financial Services ETFIYG (up 0.7% on Jun 27),XLF,Vanguard Financials ETFVFH (0.9%) andFidelity MSCI Financials Index ETFFNCL (up 1.1% on) (see all Financials ETFs here). Citigroup and Wells Fargo have special exposure toInvesco KBW Bank ETFKBWB (up 0.9% on Jun 27) andOppenheimer Financials Sector Revenue ETFRWW) (up 0.7%). If anybody wants to steer clear of Goldman and Morgan Stanley-rich funds, they should know that the duo has substantial weight iniShares US Broker-Dealers ETFIAI (up 1.3%). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportJPMorgan Chase & Co. (JPM) : Free Stock Analysis ReportBank of America Corporation (BAC) : Free Stock Analysis ReportWells Fargo & Company (WFC) : Free Stock Analysis ReportCitigroup Inc. (C) : Free Stock Analysis ReportMorgan Stanley (MS) : Free Stock Analysis ReportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportFinancial Select Sector SPDR Fund (XLF): ETF Research ReportsInvesco KBW Bank ETF (KBWB): ETF Research ReportsFidelity MSCI Financials Index ETF (FNCL): ETF Research ReportsVanguard Financials ETF (VFH): ETF Research ReportsiShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI): ETF Research ReportsiShares U.S. Financial Services ETF (IYG): ETF Research ReportsiShares U.S. Financials ETF (IYF): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
A crypto documentary may soon be coming to Netflix A new cryptocurrency documentary focusing on altcoins is reportedly coming to popular streaming platform Netflix. The documentary – titled ‘The Geeks Shall Inherit The Earth’ – is being produced by Decipher Media and will include interviews with industry behemoths like Vitalik Buterin, Changpeng Zhao, Roger Ver, and Justin Sun. An unofficial trailer has been uploaded to YouTube by Decipher Media. The trailer’s description reads : “We’re on the verge of a revolution, the tipping point where digital and economic worlds collide. One journalist and one programmer travel the globe, opening up the new reality of blockchain with exclusive behind-the-scenes access to the most powerful people in crypto reforming the global economy.” The Decipher Media website claims the documentary will feature exclusive interviews with the likes of Vitalik Butern (Ethereum), Justin Sun (Tron), Changpeng Zhao (Binance), Charles Hoskinson (Cardano), Roger Ver (angel investor and advocate for Bitcoin Cash), and Da Hongfei (NEO). Since the unofficial trailer’s release in early January, there have been several reports and Reddit posts stating the documentary will be featured on the popular streaming platform Netflix – though this has yet to be confirmed by Decipher Media. One Reddit user posted in the OmiseGO subreddit linking the trailer and writing: “The Geeks Shall Inherit The Earth Trailer, coming to Netflix – featuring OmiseGO!” Another altcoin which looks set to be featured in the documentary is the PAC coin – which released a tweet back in February. It reads: “Our head of charity @Robin_Matthes and industry legend @NetworksManager have been interviewed by Netflix for a new documentary on the effects of blockchain technology on finance, the third world, tech applications, and more.” $PAC + @netflix 🎥 Our head of Charity @Robin_Matthes and industry legend @NetworksManager have been interviewed by #Netflix for a new documentary on the effects of #blockchain technology on finance, the third world, tech applications and more #bitcoin #crypto #cryptonews #HODL pic.twitter.com/Q5YhFXC1XW — $PAC | PACcoin (@PACcoinOfficial) February 14, 2019 A release date for the documentary has yet to be confirmed, though the trailer states it is coming soon. Story continues Interested in reading more Netflix-related stories? Discover more about how Bitrefill users can utilise the service to purchase Netflix subscriptions using crypto. The post A crypto documentary may soon be coming to Netflix appeared first on Coin Rivet .
Wall Street wraps up its best June in decades as G20 convenes By Stephen Culp NEW YORK (Reuters) - Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between U.S. President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan. All three major U.S. stock indexes gained ground at the close of the week, month, quarter and first half of the year, during which time the U.S. stock market has had a remarkable run. The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression. From the start of 2019, after investors fled equities amid fears of a global economic slowdown, which sent stock markets tumbling in December, the benchmark S&P 500 jumped 17.3%, its largest first-half increase since 1997. "The market came to the realization that the world is not going to end," said John Ham, financial adviser at New England Investment and Retirement Group in North Andover, Massachusetts. "Also, (Federal Reserve chair) Powell did a 180 since (the Fed's) last (interest) rate hike, which has put wind in our sails in the first half of the year." Trump expressed hopes that his meeting with Xi at the G20 summit will be productive, but said he had not made any promises about a reprieve from escalating tariffs. "Everybody is focused on the Trump/Xi meeting, and most investors are hoping for a ceasefire," Ham added. "At this point it's just a question of how much of a ceasefire we get." "They're two strong leaders who want to save face. They both want to walk away from it claiming victory." Financial stocks led the gains in the S&P 500 and the Dow after the big U.S. banks passed the Federal Reserve's "stress test," with the central bank giving the companies a clean bill of health. The S&P 500 Bank index <.SPXBK> gained 2.4%. Trading volume spiked amid the annual restructuring of the Russell indexes, traditionally one of the largest trading days of the year. The Dow Jones Industrial Average <.DJI> rose 73.38 points, or 0.28%, to 26,599.96, the S&P 500 <.SPX> gained 16.84 points, or 0.58%, to 2,941.76 and the Nasdaq Composite <.IXIC> added 38.49 points, or 0.48%, to 8,006.24. All 11 major sectors in the S&P 500 ended the session in positive territory. Financials <.SPSY>, energy <.SPNY> and tariff-vulnerable industrials <.SPLRCI> were the biggest percentage gainers. Shares of Apple Inc <AAPL.O> dropped 0.9% following its announcement that design head Jony Ive is leaving the company. Separately, the Wall Street Journal reported that the iPhone maker would move its Mac Pro production to China from the United States. Constellation Brands Inc <STZ.N> reported better-than-expected quarterly results and raised its full-year guidance due to healthy beer demand, sending its shares up 4.6%. In economic news, consumer spending rose moderately in May and prices edged higher, implying a slowdown in economic growth and benign inflation pressures, providing the Fed rationales for a possible interest rate cut in July. Advancing issues outnumbered declining ones on the NYSE by a 2.84-to-1 ratio; on Nasdaq, a 2.66-to-1 ratio favored advancers. The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 84 new highs and 51 new lows. Volume on U.S. exchanges was 10.26 billion shares, compared with the 7.11 billion-share average for the full session over the last 20 trading days. (Reporting by Stephen Culp; editing by Jonathan Oatis)
Corona and Modelo drive Constellation's sales, shares rise 8% (Reuters) - Constellation Brands Inc reported better-than-expected quarterly results and raised its full-year earnings forecast on Friday, boosted by strong demand for its Modelo Especial and Corona Premier beers, sending its shares up 8%. The brewer has added more Mexican beers and in recent quarters, craft beers, to its portfolio to cater to rising demand from younger consumers, helping the company grow sales even as beer demand wanes across the globe. Sales of the company's beers rose 7.4% to $1.48 billion in the first quarter ended May 31. Operating margin in the business increased 150 basis points to 39.3%, benefiting from favorable pricing and a stronger dollar. For the summer, the brewer has launched Corona Refresca, a malt beverage that comes in tropical flavors. Constellation, which is shedding 30 of its lower-end wine brands after struggling to grow the business, now expects its "Power brands" wine portfolio, which includes Kim Crawford and Meiomi, to perform well this year. The company also predicted a slower sales decline for the segment this fiscal year, falling between 20% and 25%. The company had projected a 25% to 30% drop. "(Constellation's) solid beer gross/op margin beat attests to the strength of STZ's collection of industry-leading Power Brands in the premium segment and strong cost discipline, supporting our confidence that STZ's growth engines are well intact," Wells Fargo analyst Bonnie Herzog said in a note. Constellation raised its profit expectations for fiscal 2020, and now sees earnings per share on a comparable basis to be in the range of $8.65 to $8.95 from $8.50 to $8.80 earlier. The brewer posted a net loss in the reported quarter, mainly due to equity losses in Canadian marijuana producer Canopy Growth. Constellation was one of the early entrants to the growing cannabis industry in 2017 when it took a stake in Canopy Growth. Excluding one-time items, Constellation earned $2.21 per share, well below analysts' estimates of $2.04 per share, according to Refinitiv IBES data. Overall, net sales rose 2.5% to $2.10 billion. Analysts had expected net sales of $2.07 billion. Shares of the Victor, New-York based company, which have gained 17% this year, were trading at $203.1 before the bell on Friday. (Reporting by Nivedita Balu in Bengaluru; Editing by James Emmanuel and Sriraj Kalluvila)
Google announces new subsea cable 'Equiano', connecting Africa and Europe (Reuters) - Alphabet Inc's Google on Friday announced a new subsea cable dubbed "Equiano" that will connect Africa with Europe, as it boosts its cloud computing infrastructure. Equiano, fully funded by Google, is the company's third private international cable. The search engine giant, which has invested $47 billion in improving its global technology infrastructure over the last three years, said Equiano is the company's 14th subsea cable investment globally. "Equiano will be the first subsea cable to incorporate optical switching at the fiber-pair level, rather than the traditional approach of wavelength-level switching," Google said in a blog post. Google said a contract to build the cable with Alcatel Submarine Networks was signed in the fourth quarter of 2018, and the first phase of the project, connecting South Africa with Portugal, is expected to be completed in 2021. The company in April completed the "Curie" project, its first private intercontinental cable, connecting Chile to Los Angeles. It also announced last year the Dunant transatlantic submarine cable project connecting France and the United States. The 6,600 km cable is scheduled to come into service in 2020. Subsea cables form the backbone of the internet by carrying 99 percent of the world's data traffic. (Reporting by Arjun Panchadar in Bengaluru; Editing by Maju Samuel)
Gold to Close Best Month Since 2016; Palladium Jumps to 3-month highs Gold and other metals are trading positive on the last day of the week as investors are nervous ahead of the well-waited meeting between Trump and Xi. Some risk aversion is hurting the dollar, giving power to gold buyers. Investors are also focused on the end of the month and the quarter. They are trading in month-end rebalancing trades as they want to book profits to be included in their books. On Thursday, some profit taking was identified and Friday is not the exception as today will be the latest trading day of the month. So, be aware of divergences that could be signaling profit taking and end-month rebalancing. Goldis trading positive on Friday, however, the unit is losing some ground in the latest hours as the market is not confident about a resolution in the trade war. Currently, XAU/USD is trading at 1,413.65, 0.26% positive on Friday. Technical indicators suggest that a consolidation phase is undergoing for the yellow metal. The bullion is green on the week, the month and the quarter that are closing today. XAU/USD is ready to close its sixth positive week in a row, this time with slightly over 1.0% weekly gains. In the month, gold is closing its best month since 2016 with over 8.0% gains. It is logging its second consecutive month of gains. On the quarter, XAU/USD recovered itself from early losses, and it is posting near 9.5% gains in the last three months. According to experts, gold has been fueled by risk aversion due to the trade war, economic growth concerns in the United States, and geopolitical tensions in the middle east. At the top of it, the Federal Reserve hinted a possible rate cut in its meeting of July, giving extra power to the XAU/USD. Silveris trading down for the fourth consecutive day as investors are closing positions ahead of the end of the month. However, the metal is posting its first monthly gain since January. Currently, silver is trading 0.10% negative at 15.25. Palladiumis down on Friday, but earlier in the day it jumped to trade at highs since March 26 at 1,565.50. XPD/USD is closing its fourth consecutive week of gains and its best month since November 2016 with a 16.25% gain in June. Copperis ready to close its first positive month since February as the mineral managed to post three weeks of gains in a row that took the unit from 2.6125 to test the 2.7450 area. On Friday, XCU/USD remains inside the range between 2.700 and 2.730 it has been trading in the last days. Copper is 0.20% negative on Friday at 2.7120. Platinumis posting small gains on Friday as the unit is trading 0.30% positive at 816.00. XPT/USD is closing its second week of benefits and a month of recoveries after the big declined performed in May. Thisarticlewas originally posted on FX Empire • Crude Oil Underpinned by Geopolitics, Gold Pressured by Rate Concerns, Natural Gas Bulls Hoping for Heat • USD/JPY Forex Technical Analysis – Rise in Treasury Yields Could Launch Rally into 108.726 to 109.186 • Dollar Index Rebounds after Fed Member Comments Spook Short-Sellers • How Would G20 summit, The US Core PCE Inflation Report and The Chinese Data Dump Effect The Markets? • Natural Gas Price Fundamental Weekly Forecast – El Nino Effect Not Allowing Heat to “Lock in” • U.S.-China Agree to Restart Trade Negotiations; Trump Suspends New Tariffs
Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals Goldman Sachsis performing “extensive research” on tokenization, the group’s chief executive toldFrance’sLes Echosnewspaperon June 27. David Solomon said he believes globalpaymentsystems are heading in the direction ofstablecoins—cryptocurrenciespegged tofiatassetssuch as theU.S.dollar. Although he stopped short of confirming whether Goldman Sachs has had discussions withFacebookabout its upcominglibracryptocurrency andCalibrawallet, Solomon said his corporation finds the concept “interesting.” When asked whether Goldman Sachs will followJPMorgan Chasein launching its own virtual currency, Solomon said: “Assume that all major financial institutions around the world are looking at the potential of tokenization, stablecoins and frictionless payments.” Elsewhere in the interview, Solomon predicted that regulations will change in response to virtual currencies — but said he doesn’t think new entrants in the cryptosphere will forcebanksto close. He added: “Admittedly, they will have to evolve, because the trades linked to the payment flows will become less profitable. But there are many other reasons why banks must remain innovative, otherwise they will disappear.” Solomon also suggested that tech giants such as Facebook would like to avoid the regulatory constraints that banks face, making it more likely that they would try to enter into partnerships than become financial institutions themselves. Earlier this week, reports suggested that JPMorgan Chase is set to beginpilotingits own cryptocurrency by the end of this year. Back in April, Solomon categoricallydeniedthat Goldman Sachs ever had plans to open a crypto trading desk during a hearing before the United States House of Representatives Financial Services Committee. • CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High • Steve Forbes Tells Zuckerberg: Use Gold to Back Libra, Call It the ‘Mark’ • Former Trump Economic Adviser Expresses Support For Facebook’s Libra • Report: Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets
United States will sanction any country that imports Iranian oil: special envoy By Guy Faulconbridge LONDON (Reuters) - The United States will sanction any country that imports Iranian oil and there are no exemptions in place, the U.S. special envoy for Iran said on Friday. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, taking an unprecedented step to increase pressure on Iran after Tehran’s downing of an unmanned American drone last week. "We will sanction any imports of Iranian crude oil," Brian Hook said when asked about the sale of Iranian crude to Asia, adding that the United States would take a look at reports of Iranian crude going to China. "There are right now no oil waivers in place," Hook told reporters in London. "We will sanction any illicit purchases of Iranian crude oil." Tehran has been selling increased volumes of petrochemical products at below market rates in countries including Brazil, China and India since the United States reimposed sanctions on Iranian oil exports in November, Reuters reported this month. "Iran does have a history of using front companies to evade sanctions and enrich the regime and fund its foreign adventurism," Hook said, adding that Iran routinely violates maritime law to hide its oil exports. Last year, Trump pulled the United States out of the multinational deal under which sanctions on Iran were lifted in return for curbs on its nuclear programme, verified by the International Atomic Energy Agency (IAEA). Washington has since re-imposed tough sanctions on Iran, aiming to cut the Islamic Republic’s oil sales to zero to force it to negotiate a broader deal that would also cover its ballistic missile capabilities and regional influence. Iran wants to sell its oil at the same levels that it did before Washington withdrew from the accord. "Iran has just rejected diplomacy too many times," Hook said. "They have got to stop this sectarian agenda of creating a Shia corridor of power to dominate the Middle East." "This is a clerical regime that wants to remake the Middle East in its image - and that would deeply destabilise the Middle East to have regimes following the same Marxist theocratic regime," he added. (Additional reporting by James Davey; writing by Alistair Smout; editing by Stephen Addison)
France roasts in record heatwave, two die in Spain By Inti Landauro and Emma Pinedo PARIS/MADRID (Reuters) - France registered its highest temperature since records began on Friday as the death toll rose from a heatwave suffocating much of Europe. The mercury hit 45.9 degrees Celsius (114.6 Fahrenheit) in Gallargues-le-Montueux, in the southern Provence region, weather forecaster Meteo France said, nearly two degrees above the previous high of 44.1 Celsius recorded in August 2003. Twelve towns in southern France saw new all-time highs on Friday and three experienced temperatures above 45 degrees, it said. The World Meteorological Organization said 2019 was on track to be among the world's hottest years, and that 2015-2019 would then be the hottest five-year period on record. It said the European heatwave was "absolutely consistent" with extremes linked to the impact of greenhouse gas emissions. Four administrative departments in France were placed on red alert, signaling temperatures of "dangerous intensity" that are more typical of Saudi Arabia. The unusually high temperatures are forecast to last until early next week. In Spain, where temperature peaked above 43 degrees for the second day running, wildfires raged across 60 sq km (23 sq miles) of land in the northeastern Tarragona province. Officials said firefighters battling the blazes on 20 fronts managed to avoid them from spreading. In the central region, a fire broke out on the outskirts of Toledo, forcing the evacuation of two public buildings, a regional official told Reuters. To the north in Valladolid, a man of 93 collapsed and died due to the heat, police said. And in a small town outside Cordoba, a 17-year-old died of heat-related effects after jumping into a swimming pool to cool off. Since 1975, Spain has registered nine heatwaves in June, including five in the last decade, according to the Spanish meteorological office. In France, one boy was seriously hurt when he was thrown back by a jet of water from a fire hydrant. Some 4,000 schools were either closed or running a limited service to help working parents unable to stay at home. Story continues State-run rail operator SNCF offered free cancellations or exchanges on long-distance trips, social workers helped homeless people cope with the heat, and French families with elderly relatives who were ill or living alone were advised to call or visit them twice a day and take them to cool places. The greater Paris region, Ile de France, has banned more than half of cars from its roads as the stifling heat worsened air pollution, the toughest restriction provided for -- although all cars were to be allowed to leave the city as school holidays began. The cities of Lyon, Strasbourg and Marseille have also restricted traffic. (Reporting by Inti Landauro, Richard Lough and Geert De Clercq in Paris; Emma Pinedo and Paul Day in Madrid; Stephanie Nebehay in Geneva; Writing by Kevin Liffey; Editing by Catherine Evans and John Stonestreet)
Venom and Spider-Man crossover movie will be ‘scary and really funny’ says director Jon Watts Venom and Spider-Man could soon face off (credit: Sony Pictures) The original Venom movie might not have received the best reviews, but it was a major box office smash and, with Tom Hardy already signed up for Venom 2 , it’s only a matter of time before Tom Hardy’s Eddie Brock faces off against Tom Holland’s Peter Parker for a crossover movie. Yahoo Movies UK sat down with Spider-Man: Far From Home director Jon Watts this week, and we took the opportunity to ask if he thought it’ll be tricky to combine the tones of the two franchises ( Venom ’s horror-influence is slightly at odds with Watts’ light Spider-tone). Watts soon set us straight . “I’d love to see the two Toms together. I don’t know if they are that different tonally, actually. The thing that stood out more than anything else in Venom was the humour. Even though it was so dark and twisted, it was so funny!” Read more: Tom Hardy confirmed for Venom 2 “So I don’t know if it would be that tonally different,” he continued. “I think it would be scary, but it would also be really funny.” As for how Watts would approach working with Tom Hardy if he was to direct the film, he had a surprising answer. WESTWOOD, CA - OCTOBER 01: Actor Tom Hardy arrives for Premiere Of Columbia Pictures' "Venom" held at Regency Village Theatre on October 1, 2018 in Westwood, California. (Photo by Albert L. Ortega/Getty Images) “I definitely would not cover up his face. I know that’s an instinct for many directors, where they cover up his nose and his mouth. Hopefully I can resist that temptation.” Read more: ‘Spider-Man: Far From Home’ is a hit with critics We’re not actually sure how he’d manage that, considering the fact a key element of Eddie Brock’s Venom is a, well, mask, but, after Spider-Man: Homecoming ’s brilliant subversions, we have faith that he can pull off the first costume-free Marvel movie. Still, as long as Brock takes another lobster bath, producer Amy Pascal will be happy. “When you think of Venom , you'll never be able to think of anyone but Tom Hardy sitting in that bathtub of lobsters. And once you saw Tom Hardy do this character, that's all you needed to know,” the producer said. Spider-Man: Far From Home is in cinemas from 2 July. View comments
10 Small-Cap Stocks That Look Like Bargains Editor's note: This story was previously published in May 2019. It has since been updated and republished.Small cap stocks are on their way back. The Russell 2000 Index, which reflects the average performance of small cap equities, is up 14% this year and continues pushing slowly up.Source: Stuart via FlickrAnd yet, perhaps even more so than with large caps, a handful of investors are seeing some amazing bargains within the small-cap realm.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 7 Top Small-Cap Stocks Of 2019 Here's a rundown of the market's best small-cap stocks that have been beaten down to bargain-basement prices they don't quite deserve. While the most torrid of market selloffs still might be able to drag them lower, a modest market malaise may find many of these stocks quietly slipping back into rally mode. Brooks Automation (BRKS)It's not easy to explain what Brooks Automation (NASDAQ:BRKS) does. It's easier to list what it sells. Among the company's wares are robotic-like manufacturing equipment, semiconductor handling equipment, cold storage systems and a variety of consumables a life-sciences lab might use.Basically, Brooks helps companies in the semiconductor and life-science industries automate repetitive processes.Admittedly, it's as boring as it is unclear to anyone who doesn't work in either industry. In volatile times, though, boring isn't a bad thing. BRKS' products are generally in demand regardless of the economic environment, and are up 48% so far this year.By the way, Brooks Automation hasn't failed to top a quarterly earnings estimate in four years. Pitney Bowes (PBI)Pitney Bowes (NYSE:PBI), on the other hand, should be a relatively familiar name. This is the company perhaps best known for making postage-meters, though it's so much more than that now. It's become a complete soup-to-nuts solutions provider that's relevant in the digital, ecommerce world.Source: Shutterstock That reality hasn't changed the market's perception of the company. The stock's down more than 80% from its 2014 (yes, 2014) high, and worse than that, shares are priced at where they were in the mid-80's (yes, the 1980's), reflecting an ongoing deterioration of the company's top and bottom lines. * The Top 8 Tech Stocks of 2019 (So Far) Curiously though, the cheaper it gets and the more the ecommerce market matures, the more hedge funds seem to want it. PBI is one of the 30 most popular stocks among hedge funds, in fact, suggesting an opportunity not everybody else sees is at hand. Qudian (QD)Like most other Chinese technology and consumer stocks, Qudian (NYSE:QD) has been struggling for the past few months and trade war fears and trade war realities have set in. Unlike most of its bigger brothers though, QD stock has been working its way higher since late last year.Source: Shutterstock Much of that strength was prompted by evidence that, despite the headwind, Qudian's business is holding up. During its first quarter, it grew revenues by more than 22%. Even more impressive is that it managed to do so despite the loss of a key partnerlast year.Most impressive of all is that it did it when it wasn't supposed to be able to produce those kinds of results. Qudian is a lender to Chinese consumers, but China's economy is supposed to be running into a headwind. Maybe that's not the case though. Altra Industrial Motion (AIMC)Altra Industrial Motion (NASDAQ:AIMC) makes drivetrains, but not for automobiles.Source: Shutterstock Rather, it makes drivetrains, transmissions and a variety of motion control products (along with all the accompanying consumables like brakes and bearings)used in high-output physical production environments. Its customers include material handling companies, food processors, packagers and more.The company has quietly turned up the heat while nobody was watching. Altra's top line is on pace to improve nearly 33% this year, leading to per-share earnings growth of 40%. Yet, the pros believe the company has an encore in store. Analysts are calling for sales growth of 67%, leading to 16% earnings growth. * 7 Stocks to Buy for a Dovish Fed Granted, much of this growth is or will be the result of acquisitions, but it's profitable growth all the same. Petmed Express (PETS)The buzz that surrounded the pet-care industry just a few years back has since died down. Take a closer look at the market though. While the chatter has abated, the market itself hasn't. Grand View Research expects the global pet-care market, which was worth $131.7 billion in 2016, to grow to $202.6 billion by 2025.Source: Shutterstock The market is maturing though, as investors, consumers and companies all find a balance they can live with.Enter Petmed Express (NASDAQ:PETS). It's not a new company; it was founded in 1996 and went public in 1999. But, that's not a bad thing. While the online pet pharmacy market was maturing, Petmed Express was learning and capturing market share.The stock's been a dismal performer since early this year, but sales and earnings have both continued to grow. The stock's trading at a modest forward-looking P/E of 8.60. WESCO International (WCC)It's unlikely the average consumer knows much about WESCO International (NYSE:WCC), if they've ever heard of it at all. On the other hand, it's very likely that one way or another, most consumers all over the world benefit from its products.Source: Felix Carmona via Flickr (Modified)WESCO supplies a huge assortment of tools and consumables to companies that erect and maintain power lines, install breaker boxes, lay fiber-optic cables, repair light fixtures and more. * 10 Best S&P 500 Stocks to Buy For the Rest of 2019 It doesn't sound like a complicated business, but it is. With a massive number of product skus to sift through, large-scale customers need a company like WESCO to make resupplying a snap. WESCO adds value to the buying process by preventing maintenance logistics from becoming a headache.Slow but steady earnings growth for this year and next says its business model is working, and you can step into WCC stock for less than 10 times next year's projected earnings of $5.61 per share. Voya Financial (VOYA)You know Voya Financial (NYSE:VOYA) even if you don't think you know the company, for a couple of reasons.Source: 401(k) 2012 via FlickrThe first is the recent television commercials involving an orange paper squirrel and rabbit, who offer tips on how to manage money. The second reason you may know Voya better than you realize is, this company used to be ING.Regardless, the market hadn't been kind to VOYA since early 2018, but so far this year shares are up 35%. At a forward-looking P/E of 17.98 a 7 a rebound clearly is in the works. Innoviva (INVA)Innoviva (NASDAQ:INVA) is the only pharma name to earn a spot on this list of undervalued small-cap stocks to buy, and for good reason.Source: FlickrThat is, while other biotech names may present more growth potential, Innoviva brings much less risk to the table.Innoviva is effectively a one-trick pony, but the pony in question is reliably marketable. It owns royalty rights to the Breo/Ellipta combination used as a treatment for COPD, which was largely developed by GlaxoSmithKline (NYSE:GSK). It also owns rights to a similar combination of Anor and Ellipta. It's not selling nearly as well yet, but it's on a growth track. * 7 Top S&P 500 Stocks to Consider for Long-Term Gains Innoviva only enjoy royalties ranging between 5% and 10% of both COPD treatments. But, sales of both are growing, and with no R&D costs incurred, that's high-margin, low-risk revenue. SYNNEX Corporation (SNX)It's entirely possible you've been served or assisted by SYNNEX Corporation (NYSE:SNX) without even realizing it.Source: Hillary via FlickrSYNNEX helps its customers "grow and enhance their customer-engagement strategies." Sometimes this means it supplies technologies like computers or components, and other times it means it does outsourced customer service work for its clients through its Concentrix division.It's still a somewhat ambiguous explanation, but not ambiguous is the company's reliable growth streak. Quarterly revenue has grown on a year-over-year basis for the past ten quarters, and earnings growth has been almost as impressively consistent.Most noteworthy is that this company's top and bottom lines weren't the least bit fazed by the 2008 recession. As it continues clawing its way back (with significant volatility) it looks as if last year's 40% pullback may have been largely unmerited. Benchmark Electronics (BHE)Many of the electronic devices you see and use every day weren't actually designed or manufactured by the name branded on the device.Source: Shutterstock Those outfits lean on the likes of Benchmark Electronics (NYSE:BHE) to design and supply the components found inside high-tech wares like flight recorders, 3D printers and medical imaging devices, just to name a few.Sure, it would be much more exciting to be a front-line name, but it would also be a much more volatile experience for BHE shareholders. * Top 7 Dow Jones Stocks of 2019 -- So Far As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for Over 20% Upside Potential * 5 Large-Cap Stocks Holding Steady Amid Trade War Concerns * 7 ETFs for Healthy Healthcare REITs Compare Brokers The post 10 Small-Cap Stocks That Look Like Bargains appeared first on InvestorPlace.
Goldman Sachs Investors Just Got Some Good News The results from annual bank stress tests were just released, and most of the 18 big banks that were subject to the tests are increasing their capital return to shareholders in the coming year. And there were certainly some banks whose approved capital plans stood out from the pack.Goldman Sachs(NYSE: GS)is one of the most impressive, with a massive raise for shareholders and an equally impressive modification to its share buyback plan. Image source: Getty Images. All 18 banks subjected to the 2019 Federal Reserve Comprehensive Capital Analysis and Review (CCAR), better known as thestress test, passed. This means that even in a severely adverse economic scenario, all of these large financial institutions would maintain adequate capital levels. This is pretty impressive, considering that the Fed made its "severely adverse scenario" considerably worse than in previous years. The scenario assumes a six-percentage-point increase in the unemployment rate, a 50% plunge in the stock market, a 70% increase in volatility, a 25% decrease in home values, a 35% decrease in commercial real estate values, as well as recessions in other key areas around the world. Because Goldman Sachs passed by a significant margin, the Fed had no objections to its capital plan. And it is certainly stepping up its capital return. Starting with the third quarter of 2019, shareholders will be getting a massive 47% dividend raise, going from $0.85 to $1.25 per quarter. Now, Goldman Sachs has never been much of a "dividend stock." For much of the past decade, its yield has been under 1.5%, barely touching 2% at one point during a major slide in the stock's price. GS Dividend Yield (TTM)data byYCharts.TTM = Trailing 12 months. But the just-announced dividend increase translates to a yield of more than 2.5%, based on the share price as of this writing. Besides the large dividend raise, Goldman Sachs also announced that the company's capital plan allows for as much as $7 billion of share repurchases from July 2019 through the end of June 2020. This is a 40% increase over the $5 billion authorized last year. Let's be clear: This is an extremely aggressivestock buyback planand is still subject to board approval and acceptable market conditions. Based on Goldman's current market value, a $7 billion buyback would translate to nearly 10% of the company's outstanding shares -- in one year. It's also important to realize that out of the total planned capital return of $8.8 billion, almost 80% is in the form of buybacks. This shows that Goldman is convinced that its stock is attractively priced, and that buying back shares is the best use of capital. The stock currently trades for less than 95% of its book value, so it's not difficult to see why management might feel this way. For investors, this is certainly welcome news. It shows that even with a dramatic increase in its capital return, Goldman Sachs would remain more than adequately capitalized in what would amount to a perfect economic storm. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Matthew Frankel, CFPhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Is Upwork a Good Business? Upwork(NASDAQ: UPWK)is a recent IPOthat operates the leading online marketplace for freelancers in terms of by dollars spent by employers. The company makes money by connecting freelancers with projects through its platform for a fee and charging employers fees related to payment processing and other related servicing charges. Upwork has an interesting business model, but it is not without its challenges. For one, a number of competing platforms exist that could threaten to take away its customers. In addition, freelancers are incentivized to operate independently once they are connected with employers due to the fees they are required to pay to use the platform. The Upwork platform delivers value in a few key ways. First, it maintains a bustling marketplace where freelancers know there will be many job opportunities and employers know there will be many freelancers. Second, the company screens freelancers and employers, weeding out people and businesses that do not meet basic quality standards. Finally, Upwork facilitates project management with communications tools, milestone planning, and payments processing. In 2018, over 100,000 employers spent over $1.7 billion on freelance labor on its platform. From that marketplace activity, Upwork reaped fees totaling $223.8 million, or 12.7% of the total platform spend. [{"Metric": "Active employers", "2016": "76.5 thousand", "2017": "86.4 thousand", "2018": "105.5 thousand"}, {"Metric": "Employer spend", "2016": "$1,148.4 million", "2017": "$1,373.2 million", "2018": "$1,756.3 million"}, {"Metric": "Marketplace revenue", "2016": "$138.5 million", "2017": "$178.0 million", "2018": "$223.8 million"}, {"Metric": "Take rate (marketplace revenue divided by employer spend)", "2016": "12.1%", "2017": "13%", "2018": "12.7%"}] Data source: Upwork financial reports. Based on its reported data, Upwork has a large and growing platform with a fast-growing revenue base. However, this data could mask some of the challenges faced by the business. Upwork has been able to ride the "gig economy" trendthat has seen more people willing to build careers as freelancers and more businesses willing to use project-based labor. However, a few other online freelance marketplaces have popped up to capitalize on the gig economy trend as well, including freelance.com andFiverr(NYSE: FVRR),which recently went public. Today, Upwork primarily competes on the basis of its scale and reputation, but if the company is not careful, it could see competitors eat away at its customer base. Upwork's biggest selling point is its size. Ultimately, freelancers are going to choose Upwork over another platform if it has the best job opportunities for them, and with over 100,000 active employers, Upwork appears to have an edge over its competition in terms of attracting talent. Because Upwork can attract the most talent, it will also continue to attract the most employers. When a platform is more useful the greater its scale, this is referred to as anetwork effect. However, there is nothing stopping a freelancer from also using a competing platform such as Fiverr. If freelancers find that it is easier or more lucrative to use another platform, they will use Upwork less. Competition among platforms is good for freelancers but raises the bar for Upwork. While the company appears to have an edge today due to its large scale, it ultimately doesn't own the talent or control the projects, and it will always be at risk from competition as a result. Image source: Getty Images. The largest source of Upwork's revenue is the cut it takes from payments made to freelancers. For each project, the company takes 20% of a freelancer's first $500, 10% of the next $9,500, and 5% for any amount above $10,000. Because Upwork is taking a cut of each payment, freelancers are incentivized to request payment from employers outside of its system. Upwork has a few measures in place to discourage this, but ultimately, it cannot stop employers if they decide to pay freelancers by other means. One benefit for freelancers who get paid via Upwork is that Upwork provides a payment guarantee for completed work. It does this by requiring employers to deposit cash in escrow up front that is delivered to freelancers when work is completed. This is valuable to freelancers, who in most cases have established contact with employers only online. However, if a freelancer trusts an employer and establishes a long-term relationship, it wouldn't necessarily make sense to continue paying Upwork's cut. From the employer's perspective, it may just be easier to use Upwork to manage projects and process payments, especially if the employer is managing multiple freelancers. The employer doesn't directly pay the fee as a percentage of payments and gets the benefit of using Upwork's project management software. Despite incentives for freelancers to request payment outside the Upwork platform, Upwork has managed to show strong payment retention metrics. For 2018, the company reported that spending retention was 108%. Spending retention measures how much money employers spent relative to how much they spent one year prior, including employers that stopped using Upwork. Therefore, a retention rate above 100% means that the remaining employers offset those who dropped off by spending far more on average than they had in the prior year. Upwork's robust retention rate suggests that its model is succeeding despite the challenges. Upwork certainly has the potential to be a great business. As a marketplace business, Upwork doesn't manufacture a physical product. Instead, it monetizes relationships facilitated on its platform. Online marketplace businesses can produce high margins and stable cash flow -- just look at the long-term success ofeBay. Upwork already operates the leading freelance marketplace, which provides a network effect advantage. However, Upwork isn't the only large platform, and if the company doesn't stay effective and innovative, it could lose out to the competition. The good news is that Upwork's revenue model appears to be working, as it has shown positive retention metrics. It is also fortunate to be riding the gig economy trend, which has helped it generate strong sales growth. If Upwork can maintain its leadership position as an online freelance marketplace, the business will grow stronger and stronger as it matures. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Luis Sanchezhas no position in any of the stocks mentioned. The Motley Fool recommends eBay and Upwork. The Motley Fool has adisclosure policy.
2020 presidential candidates blast Trump's stance on China In the second night of debate, Democratic presidential candidates slammed President Trump’s trade policies — as Trumpprepares to meetwith China’s Xi Jinping, in an effort to get trade talks back on track. Moderators asked Sen. Michael Bennet (D-CO), entrepreneur Andrew Yang and Mayor Pete Buttigieg (D-IN) how they would stand up against China if they won the presidency. Bennet said the president was right to push back on China, but he’s doing it in the wrong way. “We should mobilize the entire rest of the world, who all have a shared interest in pushing back on China's mercantilist trade policies, and I think we can do that,” said Bennet. “We need to crack down on Chinese malfeasance in the trade relationship, butthe tariffsand the trade war are the wrong way to go,” said entrepreneur Andrew Yang. Yang acknowledged China’s theft of intellectual property is a “massive problem,” but said tariffs are punishing businesses, producers and workers in both the United States and in China. “The beneficiaries have not been American workers or people in China — it’s been Southeast Asia and other producers who have stepped in the void,” said Yang. Yang did not elaborate on how he’d address trade issues with China if he were president. Later he said his first foreign call would be to China, to work on climate change, North Korea and artificial intelligence. Mayor Pete Buttigieg leads South Bend, Ind., an industrial Midwest city where farmers and manufacturersare feelingthe impact of the trade war with China. “Tariffs are taxes,” he said. Buttigieg argued while Trump is focused on the trade balance between the two countries, China is preparing for the future. “China is investing, so they can soon be able to run circles around us in artificial intelligence. And this president is fixating on the China relationship as if all that matters was the export balance on dishwashers,” said Buttigieg. The mayor argued Trump’s trade policy looks “chaotic” and his strategy is not working. “They’re using technology for the perfection of dictatorship —but their fundamental economic model is not going to change because of some tariffs,” said Buttigieg. “The biggest thing we’ve got to do is invest in our own domestic competitiveness.” Buttigieg said without investing in its own infrastructure and education, the U.S. will never be able to compete with China. “If we really want to be an alternative — a democratic alternative [to China]— we have to demonstrate that we care about democratic values at home and around the world,” he said. Though he wasn't asked about trade, former Colorado Gov. John Hickenlooper said the first foreign relationship his administration would try to “reset” is the United States' relationship with China. “I understand they’ve been cheating and stealing intellectual property,” said Hickenlooper. “If we’re going to deal with all the challenges of the globe we’ve got to have relationships with everyone.” Jessica Smith is a reporter for Yahoo Finance based in Washington, D.C. Follow her on Twitter at@JessicaASmith8. John Delaney: 70% of US would support this climate plan New bill would force big tech to reveal the value of your data Senators want to roll back tax cuts to create jobs for long-term unemployed Read the latest financial and business news from Yahoo Finance Meet the 2020 candidates Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit.
The Sizable CBD Problem That Most Investors Are Overlooking You'd be hard-pressed right now to find a faster-growing industry than legal cannabis. Between 2018 and 2024, the newest report from Arcview Market Research and BDS Analytics, "State of the Legal Cannabis Markets," predicts a near quadrupling in worldwide licensed-store sales tonorth of $40 billion. This better than 24% compound annual growth rate through 2024 is a big reason behind the rapid rise in marijuana stocks in recent years. But there's a niche within the marijuana movement that's generating even more buzz, without actually generating a buzz. I'm talking about cannabidiol (CBD). Image source: Getty Images. Cannabidiol is the nonpsychoactive cannabinoid best known for its perceived medical benefits. I phrase it as "perceived," because the U.S. Food and Drug Administration recognizes just a very small number of benefits for CBD, but otherwise views the cannabinoidas a large unknown that needs further testing. But that's not the case among the public. People throughout North America appear sold on the idea of CBD-based derivatives and the potential medical benefits they could bring, ranging from relief of pain to halting anxiety. According to the Brightfield Group, sales of CBD products in the U.S. alone are slated to growfrom $591 million in 2018 to $22 billion by 2022. For those of you keeping score at home, this works out to an annualized growth rate of 147%, which blows broader cannabis sales growth out of the water. This surge in sales is being made possible by the 2018 passage of the farm bill, which was signed into law by President Trump in December. This new law allows for the legal industrial production of hemp, which is rich in CBD, and a heck of a lot easier and less costly to grow than cannabis plants (which also contain some combination of CBD and tetrahydrocannabinol (THC), the cannabinoid that gets users high). This means hemp plants can become the source for CBD extraction in the U.S. in the months and years to come. Make no mistake about it, quite a few large-scale Canadian companies have jumped at the idea of becoming major CBD players in the United States.Six of the 14 major Canadian cannabis growershave announced plans to enter the U.S. market, with another three growers expected to outline their plans, or make the jump, within the next year. The opportunity is simply too big to pass up, especially considering that CBD-infused derivatives (e.g., oils, edibles, infused beverages, topicals, and concentrates) have much higher price points and juicier margins than traditional dried cannabis. But there's one facet of this plan to enter the lucrative CBD market that investors seem to be overlooking: that the U.S. CBD and hemp market is considerably more diverse and crowded than the Canadian cannabis market. Image source: Getty Images. Some of the biggest names in the weed industry expect to make their presence known in the United States' CBD market, includingCanopy Growth(NYSE: CGC),HEXO(NYSEMKT: HEXO), andTilray(NASDAQ: TLRY). As a brief summary: • Canopy Growth is spending$150 million on a hemp-processing facility in New York State, and also acquired Colorado-based intellectual property company ebbu in November, which can aid the development of CBD-infused derivatives. • HEXO announced the formation of a U.S. subsidiary a few weeks ago, with its quarterly report noting its intention to push CBD products into eight U.S. states in 2020. • TilrayacquiredNorth American hemp foods company Manitoba Harvest for about $310 million in March. Aside from gaining access to a distribution network of more than 16,000 retail stores, Tilray can use this network to develop and sell CBD products in the United States. This plan to enter the U.S. market and take advantage of lofty sales growth potential in the CBD market sounds great on paper. But it overlooks the fact that, withindustrial hemp production now legal, and established players already entrenched in the CBD market (e.g.,Charlotte's WebandCV Sciences), it could be an uphill climb for these established brands. Making matters worse for the trio of Canopy Growth, HEXO, and Tilray is the fact that smaller hemp and CBD-derivative players have access to financing options in the United States. The financing advantages these Canadian marijuana giants have in Canada don't translate to the United States. Image source: Getty Images. Also, don't forget about the role general stores are expected to play in the U.S. CBD market. Arcview and BDS Analytics note in their latest report that two-thirds of all CBD sales were still occurring in licensed U.S. dispensaries as of 2018. But by 2024, 70% of all CBD spending is expected to occur in general retail stores, such as a supermarket orgas station convenience store. Companies like Canopy, HEXO, and Tilray are built more around the idea of brand building within the confines of licensed dispensaries. They aren't necessarily tooled to succeed in the diverse general retail environment. Now, don't get me wrong. CBD can still be a potential needle mover for Canopy, HEXO, and Tilray. These companies wouldn't be investing so heavily in U.S. infrastructure if that weren't the case. These investments, though, are also meant to lay the groundwork for a hopeful change in U.S. federal marijuana policy. But expecting Canada's largest pot stocks to be runaway winners in the U.S. CBD market may be a stretch. The needle may not move as much as investors expect given the diversity of competition and challenges this trio could face in the U.S. hemp/CBD market, and that's something investors should take into consideration. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Sean Williamshas no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has adisclosure policy.
Credit Suisse Receives Conditional Non-Objection From Fed The Federal Reserve recently came out with the results for the final round of annual stress test. Based on the results, all the participating banks have been given a clear signal exceptCredit SuisseCS. The company has been ordered to address weaknesses in its capital planning processes to get approval for boosting shareholder payouts. The U.S. unit of the Swiss giant has been issued a conditional non-objection, as the Fed identified lapses in the assumptions used by the company to project stressed trading losses. This raised concerns about its capital adequacy and capital planning process. Credit Suisse is required to solve the concerns by Oct 27, 2019 until which, it has been restricted to raise payouts from the level that was approved last year. In 2018, the Fed had issued conditional non-objection to Goldman Sachs GS, Morgan Stanley MS and State Street Corporation STT after pointing shortcomings in their capital plans. Overall, the Fed found a marked improvement from last year's assessment as none of the banks have failed. The regulator noted that the largest and most complex banks in the United States have doubled their common equity capital from nearly $300 billion in 2009 to roughly $800 billion, at present. Randal Quarles, the Fed vice chair said, “The stress tests have confirmed that the largest banks are both well-capitalized and place a high priority on strong capital planning practices. The results show that these firms and our financial system are resilient in normal times and under stress.” Our Take Credit Suisse remains well poised to reap benefits from the three-year restructuring overhaul it successfully completed in 2018. Also, it continues to bolster its wealth management business by expanding presence. The stock has gained 10.7% over the past six months compared with 6.8% growth recorded by the industry it belongs to. Currently, the stock carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportState Street Corporation (STT) : Free Stock Analysis ReportCredit Suisse Group (CS) : Free Stock Analysis ReportMorgan Stanley (MS) : Free Stock Analysis ReportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
EDF eyes lifespan extension with Tricastin 1 nuclear reactor upgrade By Benjamin Mallet SAINT-PAUL-TROIS-CHÂTEAUX, France, June 28 (Reuters) - F rench state-controlled utility EDF has started a 250 million euro ($284.65 million) maintenance and upgrade works at its 900 megawatt Tricastin 1 nuclear reactor that could enable it operate for another ten years. Commissioned in 1980, Tricastin 1 is the first in France's fleet of 58 reactors to undergo a fourth 10-yearly overhaul, a thorough review to ensure its integrity beyond 40 years of operation, and the ability to function for another 10 years. EDF would have to demonstrate to nuclear safety authority ASN, that it is properly managing the aging reactor, while improving safety and environmental levels, taking into account new measures place since the 2011 Fukushima accident in Japan. ASN has said it would make a generic ruling on the extension of the lifespan of 32 of EDF's 900-megawatt capacity reactors at the end of 2020, this would be followed by a reactor by reactor in depth, starting with Tricastin 1. "This is of paramount importance for the company because we (Tricastin 1) are the pioneers and our experience will be used for other plants," said Cedrick Hausseguy, the site director. Including a detailed inspection of the reactor vessel, EDF would also have to control and make sure the circuits of the reactor and the containment building are properly sealed. The upgrade works, involving some 5,000 workers and touching on 80 different sectors, will last until November. It comes at a time when EDF faces increased scrutiny and stringent requirements from the nuclear watchdog to comply with safety measures at its reactors. ASN last week ASN said EDF would have to repair eight faulty weldings at the containment building in the Flamanville 3 EPR nuclear reactor it is building in northern France. Etienne Dutheil, EDF's head of nuclear production said the company was working closely with the regulator on the lifespan extension works of its nuclear fleet. "There is a very high level of requirement from the ASN but we have tried to anticipate it as much as possible and get approvals for our technical options in our exchanges with them," Dutheil told Reuters during a visit at the plant on Thursday. The overhaul of the reactors that included renovations and improved safety, is expected to cost around 45 billion euros ($51.24 billion) between 2014 and 2025. Dutheil said the upgrades were expected to be a profitable operation that would allow France to continue to benefit from cheap low-carbon nuclear power and would not lead to an increase in consumer electricity bills. Tricastin's four nuclear reactors produce an average of 25 terawatt hours (TWh) of electricity per year, or 6% of French nuclear power generation. The remaining three reactors will undergo similar upgrades between 2021 and 2024. ($1 = 0.8783 euros) (Writing by Bate Felix, editing by Louise Heavens)
Exclusive: Google appears to have leveraged Android dominance - India watchdog By Aditya Kalra NEW DELHI (Reuters) - Google <GOOGL.O> appears to have misused its dominant position in India and reduced the ability of device manufacturers to opt for alternate versions of its Android mobile operating system, Indian officials found before ordering a wider probe in an antitrust case. A 14-page order from the Competition Commission of India (CCI), reviewed by Reuters this week, found Google's restrictions on manufacturers seemed to amount to imposition of "unfair conditions" under India's competition law. Reuters reported last month that the CCI had launched a probe in April against Google for its alleged abuse of Android's dominant position to block rivals, but the contents of the directive detailing the initial assessment upon which that investigation was ordered have not been previously revealed. The Indian case is similar to one Google faced in Europe, where regulators imposed a $5 billion fine on the company for forcing manufacturers to pre-install its apps on Android devices. Google has appealed against the verdict. By making pre-installation of Google's proprietary apps conditional, Google "reduced the ability and incentive of device manufacturers to develop and sell devices operated on alternate versions of Android", the CCI said in the order. "It amounts to prima facie leveraging of Google's dominance". Asked for comment, Google referred Reuters to its statement last month, in which it said Android had enabled millions of Indians to connect to the internet by making mobile devices more affordable. Google looked forward to working with the CCI "to demonstrate how Android has led to more competition and innovation, not less", the company said at the time. The CCI did not respond to a request for comment. While the order, dated April 16, called for a wider probe against Google, the watchdog's investigations unit could still clear Google of any wrongdoing. The amount of any fine that could be imposed on Google if the CCI rules against it was not clear. ANDROID DOMINANCE Android, used by device makers for free, features on about 88 percent of the world's smartphones. In India, about 99 percent of the smartphones sold this year used the platform, Counterpoint Research estimates. In the EU case, regulators said Google forced manufacturers to pre-install Google Search and its Chrome browser, together with its Google Play app store, on Android devices, giving it an unfair advantage. In the Indian case, Google argued that Android was an open source platform and pre-installation obligations were "limited in scope", the CCI order said. The CCI said that complainants in the Indian case - which according to sources involve more than one person - have alleged that Google engaged in abusive behavior similar to the kind outlined in the European case. They said Google was engaged in anti-competitive practices "with the aim of cementing Google's dominant position". Google's "impugned conduct may help perpetuate its dominance in online search markets while resulting in denial of market access for competing search apps", the CCI said in its order. The investigations arm of the CCI should complete the wider probe in the case within 150 days, the order said, though such cases at the watchdog typically drag on for years. The CCI also said the role of any Google executive in alleged abuse of the Android platform should also be examined. The investigation is not the only antitrust headache for the Mountain View, California-based company in one of its key growth markets. Last year, the CCI imposed a fine of 1.36 billion rupees ($20 million) on Google for "search bias" and abuse of its dominant position. Google appealed against that order, saying the ruling could cause it "irreparable" harm and reputational loss. That appeal is still pending in an Indian tribunal. (Reporting by Aditya Kalra; Editing by Martin Howell and Alex Richardson)
UN: Average of nearly 1 migrant child death daily since 2014 GENEVA (AP) — Migrant children have died or gone missing at the rate of nearly one per day worldwide over the past five years, with treacherous journeys like those across the Mediterranean or the U.S.-Mexico border, the U.N. migration agency said Friday. In its latest "Fatal Journeys" report, the International Organization for Migration released findings that some 1,600 children — some as young as 6 months old — are among the 32,000 people who have perished in dangerous travels since 2014. That overall figure is likely to be lower than the real number of deaths, because many bodies are never found or identified, IOM said. The report comes as migrant deaths have come into greater focus this week following the publication of a harrowing image of a Salvadoran father and child who drowned in the Rio Grande as they tried to cross into the U.S. from Mexico. In its report, the U.N. agency pointed to rising deaths every year along the U.S.-Mexico border since 2014, totaling more than 1,900 over five years. The Mediterranean, though, remains the most fatal crossing, with over 17,900 people dying there — many on the hazardous trip between Libya and Italy. But from 2017 to 2018, the annual number of deaths and disappearances globally dropped by nearly 25 percent — to 4,734. IOM said that was most likely due to a drop in the number of people using the central Mediterranean route to get to Europe. Overall, though the report focuses on missing migrant children, saying a growing number of children are embarking on dangerous journeys. The organization also laments a dearth of data about migrant children. ___ A previous version of this story was corrected to indicate the figures show the rate of nearly one child death per day, not at least one per day.
Seriously Convincing Rumors Point to an Iconic Marvel Villain Joining the MCU for 'Black Widow' Photo credit: Marvel Studios From Men's Health Ever since the devastating events of Avengers: Endgame , Marvel-heads have been left wondering what's in store for Black Widow 's solo film. Having sacrificed herself in exchange for the Soul Stone, Scarlett Johansson 's original Avenger is written out of the current timeline altogether, transforming the fandom's excitement into apprehension. As well as directing duo Joe and Anthony Russo defending their decision to off one of the MCU 's few female superheroes, Marvel boss Kevin Feige attempted to offset the backlash when discussing the prequel. Photo credit: Marvel Studios "There's a method to the madness. There's always a method and doing things in an unexpected way is something we find fun," he told Cinema Blend . "There are ways to do prequels that are less informative or answer questions you didn't necessarily have, and then there are ways to do prequels where you learn all sorts of things you never knew before." The question now is whether the movie will have any impact when we already know our leading lady is done and dusted. The answer? New characters, people – or new villains. Thanks to set photos released this week, we have our first behind-the-scenes look at a new armored character set to join the MCU – and he looks suspiciously like the famed Marvel antihero Taskmaster. UPDATE | June, 25 Budapest, Hungary #BlackWidow set pics. Guys, it's so surreal!!! pic.twitter.com/c8lzGYTCqs - 🌸#HappyScarlettDay (@okbanana) June 26, 2019 Although none of the production team have denied or confirmed the debut of the supervillain, sources have pointed towards Taskmaster's presence as the central foe in Black Widow since March, rumors which are bolstered by these new set snaps. Story continues Given his ability to imitate opponents' powers using photographic reflexes, Taskmaster would make an excellent antagonist, matching Natasha Romanova's fighting skills – and it could set the character up as a new mainstay of the MCU's Phase 4 . Photo credit: Marvel Comics In the books, Tony Masters (as he was known then) first appeared briefly in The Avengers #195 , making his full debut in Avengers #196 . Although he chose the path of crime early on in life, adopting the mantle of Taskmaster, he eventually moved on to become an antihero and a sleeper agent. Masters' frequent enemies are Captain America , as well as Deadpool , the only character whose moves he can't replicate due to the Merc's unpredictability. Another drawback to his powers is that there's a cap to how many moves he can memorize at any given time and he forgets personal memories as a result of taking on new codes. The character has ties to Hydra and the Secret Avengers, and was even recruited by Nick Fury at one point. Then, there's his long-running history with the superhero team Thunderbolts, whose MCU debut – like Taskmaster's – has been rumored for quite some time. As in, over ten years. Way back in 2008, the year the MCU was born with the release of Iron Man , The A-Team and The Blacklist director Joe Carnahan signed on to direct an adaptation of Taskmaster. At the time, Carnahan stated that the film would "literally build this character's origin" and that it would "commence with the events following Taskmaster's severe beat down at the hands of Moon Knight". The project never saw the light of day and a lot has changed since then, including the MCU's storytelling process. Rather than giving Taskmaster his own standalone film, it would make sense to weave his arc into an established narrative and set up his future in the cinematic universe moving forward. And yet, while the character has a rich history in the books for director Cate Shortland and Co. to draw upon, his interaction with Black Widow is minimal – the most notable being a confrontation with Natasha, Black Panther , Batman and Huntress in JLA/Avengers #4 , part of the Marvel/DC crossover series. So how would he fit into the film's timeline? Photo credit: Marvel Comics The missing link could be Yelena Belova , another character rumored to feature in the film – one who was groomed and trained at the Red Room Academy alongside Natasha in the comics. In the same way that Steve Rogers passed the Captain America moniker to Sam Wilson, so did Black Widow to Yelena Belova, leaving many to speculate whether this is how the character will continue in the MCU past Natasha's death in Endgame . Certainly, Yelena's character is hinted at in set photos, which show Johansson working side-by-side with a blonde-haired Florence Pugh (whose role is yet to be officially revealed). If this turns out to be true and Yelena sides with Natasha, it could be that Taskmaster is hired as an assassin to take them both out. black widow (2020) set photos pic.twitter.com/ckgiPk1tkc - best of widows (@bestofwidows) June 22, 2019 Another entry point could be with regards to Hydra, an organization featuring significantly in both Yelena's and Taskmaster's storylines in the books. In fact, at one point Hydra recruits Natasha's successor and transfers her mind into a new version of Super-Adaptoid, meaning she's more or less able to mimic the powers of other characters in a similar way to Taskmaster. Like most Marvel properties, the details are being kept under wraps, but ultimately there are numerous hints to suggest Taskmaster and Yelena, aka Black Widow 2, will be the fresh faces in the Black Widow movie. It would certainly generate feelings of optimism about Phase 4. Not only by bringing in a long-awaited fan fave, but also providing a way for Black Widow to continue in the MCU well into the future, no Soul Stones required. ('You Might Also Like',) A Vegan Diet Helped This Man Lose 150 Pounds and Improve His Mental Health How to Cool Down After Your Hardest Workouts What Is The Lectin-Free Diet?
CanAlaska Drilling into Uranium Target West McArthur Drill program started June 24; Three month program targets further high-grade uranium Vancouver, British Columbia--(Newsfile Corp. - June 28, 2019) -CanAlaska Uranium Ltd. (TSXV:CVV) (OTCQB:CVVUF) (FSE:DH7N)("CanAlaska" or the "Company") is pleased to report that drilling has commenced at the West McArthur uranium project to expand current high grade uranium mineralization discovered in holes drilled by Cameco during their recent work programs on the property. The project is a 70/30 joint venture controlled by CanAlaska. The program is intended to locate high-grade uranium hosted in faults along the C10 horizon, the major regional fault structure. Two previous drill holes intersected high-grade uranium - up to 5% U3O8 - just west of the projection of the C10 horizon and near the unconformity contact. CanAlaska believes the controlling structure of this high-grade mineralization has yet to be intersected in drilling. The C10 conductor target features are shown in the following figure, and in further detail on the company websitewww.canalaska.com Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/2864/45967_d8da6418648de864_001full.jpg The summer drill program is being operated by CanAlaska, and follows on the three-year target definition by Cameco's drill team. The ten holes drilled along a 1.6 kilometre (one mile) long stretch of Grid 5 included three significant uranium mineralized drill holes. The wide spaced drilling also mapped an extensive zone of intense fluid alteration extending into the sandstone above the unconformity with basement rocks. The alteration rises 700 metres above the unconformity and is marked by broad halos of uranium, boron, arsenic and accompanying base metals, typical environments of major uranium deposits in the Athabasca Basin. The alteration and geochemical influx are associated with steep faults observed in the drill holes within the sandstone. CanAlaska President Peter Dasler comments, "The extent of the mineralization and in multiple areas over 1.6 kilometres (one mile) provides the scenario for a "Tier One" mineralizing event similar to the nearby world class McArthur River and Cigar Lake mines. We are fully financed to carry out the work program. This is truly a break-out discovery opportunity for CanAlaska." About CanAlaska Uranium CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 152,000 hectares (375,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visitwww.canalaska.com. The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration. On behalf of the Board of Directors "Peter Dasler"Peter Dasler, M.Sc., P.Geo.President & CEOCanAlaska Uranium Ltd. Contacts: Peter Dasler, PresidentTel: +1.604.688.3211 x 138Email:info@canalaska.com Cory Belyk, COOTel: +1.604.688.3211 x 306Email:cbelyk@canalaska.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45967