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Music streaming company Spotify was sued by Wixen Music Publishing Inc last week for allegedly using thousands of songs, including those of Tom Petty, Neil Young and the Doors, without a license and compensation to the music publisher.
Wixen, an exclusive licensee of songs such as "Free Fallin" by Tom Petty, "Light My Fire" by the Doors, (Girl We Got a) Good Thing by Weezer and works of singers such as Stevie Nicks, is seeking damages worth at least $1.6 billion along with injunctive relief.
Spotify failed to get a direct or a compulsory license from Wixen that would allow it to reproduce and distribute the songs, Wixen said in the lawsuit, filed in a California federal court.
Wixen also alleged that Spotify outsourced its work to a third party, licensing and royalty services provider the Harry Fox Agency, which was "ill-equipped to obtain all the necessary mechanical licenses".
Spotify declined to comment.
In May, the Stockholm, Sweden-based company agreed to pay more than $43 million to settle a proposed class action alleging it failed to pay royalties for some of the songs it makes available to users.
Spotify, which is planning a stock market listing this year, has grown around 20 percent in value to at least $19 billion in the past few months. | Spotify sued by Wixen Music Publishing for using songs including Tom Petty Neil Young Doors without license compensation .
Wixen licensee of songs "Free Fallin" Tom Petty "Light My Fire" Doors (Girl Good Thing Weezer Stevie Nicks seeking damages $1.6 billion injunctive relief.
Spotify failed license Wixen reproduce distribute songs lawsuit California .
Wixen Spotify outsourced work to third Harry Fox Agency "ill licenses".
Spotify comment.
May company agreed pay $43 million action failed pay royalties songs .
Spotify planning stock market listing year grown 20 percent value to $19 billion. | 0.7 |
(Adds outside expert comments)
WASHINGTON, Jan 18 (Reuters) - The U.S. government is seeking to further protect the "conscience and religious freedom" of health workers whose beliefs prevent them from carrying out abortions and other procedures, in an effort likely to please conservative Christian activists and other supporters of President Donald Trump.
The U.S. Department of Health and Human Services said on Thursday it will create a division within its Office of Civil Rights to give it "the focus it needs to more vigorously and effectively enforce existing laws protecting the rights of conscience and religious freedom."
Healthcare workers, hospitals with religious affiliations, and medical students among others have been "bullied" by the federal government to provide these services despite existing laws on religious and conscience rights, the top HHS official said.
"The federal government has hounded religious hospitals...forcing them to provide services that violate their consciences," Acting HHS Secretary Eric Hargan said. "Medical students too have learned to do procedures that violate their consciences."
Some of the services at issue include abortion and euthanasia, according to HHS documents. Politico reported on Wednesday that the protections would extend to care for transgender patients seeking to transition.
Democrats criticized the move as a denial of healthcare for women and others, while legal and medical ethics experts said that such exemptions have legal limits and would be challenged in court.
Democratic Senator Patty Murray said in a statement she was "deeply troubled" by reports of the new division and that "any approach that would deny or delay health care to someone and jeopardize their well being for ideological reasons is unacceptable."
LEGAL AND ETHICAL QUESTIONS
The division would enforce the legal protection and conduct compliance reviews, audits and other enforcement actions to ensure that health care providers are allowing workers with religious or moral objections to opt out.
As the division seeks to back exemptions, it is likely to face legal and ethical challenges.
There will be challenges to any step along the way for any expansion of religious exceptions, said Marci Hamilton, a professor at the University of Pennsylvania. She said such challenges would be pretty strong.
Hamilton said that while courts had frequently upheld religious exemptions in recent years, they have recognized limits. For example, she said, courts have rejected a churchs bid to be exempt from federal marijuana laws, and a Pennsylvania order of nuns effort to avoid eminent domain.
Professionals take an oath to serve people who are sick, Alta Charo, a professor of law and bioethics at the University of Wisconsin in Madison explained. They are also the only ones licensed to provide those services and must do so without discrimination, she said.
"When the director of the office of civil rights is quoted as saying that 'No physician should have to choose between helping a sick person or following their personal conscience,' the director is simply wrong. That choice was made the moment they became physicians," she said.
It is unclear how broad such exemptions could be.
Asma Uddin, a fellow at the UCLA Burkle Center for International Relations and a Muslim, spoke at an HHS press conference about the need for protection against what she said was a variety of ways women are forced to violate their conscience.
For Muslim women, she said, this is an issue in respect to modesty, particularly as patients.
TRUMP ORDER
The creation of the division is in accordance with an executive order signed by Trump last May called "Promoting Free Speech and Religious Liberty." The order was followed by new rules aimed at removing a legal mandate that health insurance provide contraception.
Several proponents of the changes cited the Little Sisters of the Poor, an order of Roman Catholic nuns which runs care homes for the elderly, which had challenged a legal mandate under Obamacare, the common name for former President Barack Obama's 2010 healthcare law.
In October, HHS introduced rules that would let businesses or non-profit organizations lodge religious or moral objections to obtain an exemption from that mandate that employers provide contraceptives coverage in health insurance with no co-payment.
Planned Parenthood said the move was the latest example of the Trump administration's efforts to block women, transgender people and other communities from access to care.
Americans United for Life, a group that opposes abortion rights, said the HHS had taken a strong step forward to allow individuals and organization to exclude abortions or other services that violate their conscience. (Additional reporting by Caroline Humer, Jilian Mincer and Brendan Pierson in New York, and Julie Steenhuysen in Chicago; Editing by Alistair Bell) | (Adds outside expert comments)
WASHINGTON, Jan 18 (Reuters- U.S. government seeking to protect "conscience and religious freedom" of health workers whose beliefs prevent them from abortions other procedures, likely to please conservative Christian activists supporters of President Donald Trump.
U.S. Department of Health and Human Services said Thursday will create division within Office of Civil Rights to give "the focus to vigorously effectively enforce existing laws protecting rights of conscience and religious freedom."
Healthcare workers hospitals with religious affiliations, medical students "bullied" by federal government to provide services despite existing laws on religious conscience rights, top HHS official said.
"The federal government hounded religious hospitals...forcing them to provide services violate their consciences," Acting HHS Secretary Eric Hargan said. "Medical students have learned to do procedures that violate consciences."
services at issue include abortion and euthanasia, according HHS documents. Politico reported protections would extend to care for transgender patients seeking to transition.
Democrats criticized move as denial of healthcare for women others, legal and medical ethics experts said exemptions have legal limits challenged in court.
Democratic Senator Patty Murray said "deeply troubled" by reports of new division "any approach deny or delay health care jeopardize well being for ideological reasons is unacceptable."
LEGAL ETHICAL QUESTIONS
division would enforce legal protection conduct compliance reviews audits enforcement actions to ensure health care providers allowing workers with religious or moral objections to opt out.
division seeks to back exemptions, likely to face legal and ethical challenges.
challenges to for expansion of religious exceptions, said Marci Hamilton, professor at University of Pennsylvania. challenges strong.
Hamilton said courts frequently upheld religious exemptions, recognized limits. For example courts rejected churchs bid to be exempt from federal marijuana laws, Pennsylvania order of nuns effort to avoid eminent domain.
Professionals take oath to serve people sick, Alta Charo, professor of law and bioethics at University of Wisconsin in Madison explained. They are only ones licensed to provide services must without discrimination, she said.
"When director of office of civil rights is quoted saying 'No physician should have to choose between helping sick person or following their personal conscience,' director is wrong. That choice was made moment they became physicians," said.
unclear how broad exemptions could be.
Asma Uddin, fellow at UCLA Burkle Center for International Relations and a Muslim, spoke at HHS press conference about need for protection against variety of ways women forced to violate conscience.
For Muslim women said this is issue in respect to modesty, particularly patients.
TRUMP ORDER
creation of division in accordance with executive order signed by Trump last May called "Promoting Free Speech and Religious Liberty." order was followed by new rules removing legal mandate that health insurance provide contraception.
proponents changes cited Little Sisters of the Poor, order of Roman Catholic nuns runs care homes for elderly, challenged legal mandate under Obamacare, for former President Barack Obama's 2010 healthcare law.
In October, HHS introduced rules let businesses or non-profit organizations lodge religious or moral objections to obtain exemption from mandate employers provide contraceptives coverage in health insurance with no co-payment.
Planned Parenthood said move was latest example of Trump administration's efforts to block women, transgender people other communities from access to care.
Americans United for Life, group opposes abortion rights, said HHS had taken strong step forward to allow individuals organization to exclude abortions or other services that violate conscience. (Additional reporting by Caroline Humer, Jilian Mincer and Brendan Pierson New York, Julie Steenhuysen in Chicago; Editing by Alistair Bell) | 0.1 |
PALO ALTO, Calif., Jan. 24, 2018 /PRNewswire/ -- Tire Consumer , the world's first tire search engine, today announced the appointment of Chan Patel as CEO. Patel brings over 20 years of experience in the B2B sector. He is passionate and thrives on driving growth, with his entrepreneurial spirit and innovative ideas. He replaces CEO and founder Tim Shaffer, who will continue to work as COO & Founder at Tire Consumer.
"Chan has been the driving force behind RepairPal & Branders.com success. Now, he will set Tire Consumers strategy to become the first Tire Search Engine in the automotive sector. I look forward to Chan's leadership at the company," Shaffer said.
"I am thrilled with the opportunity in front of Tire Consumer and understand its magnitude. Tire Consumer is set to grow rapidly to become a leader in the Tire Search market by continuing to innovate and creating multiple value propositions for both clients and consumers. I look forward to working with the Tire Consumer team to building a world class enterprise marketing company," Patel said.
Before joining Tire Consumer Chan led sales for RepairPal. With his leadership they built the largest trusted network of auto repair shops in all 50 states. He consistently doubled sales and delivered record sales throughout his tenure. As the sales leader he also secured many partnerships with industry leaders which include, BOSCH, Technet (an Advance Auto Parts company), & Precision Tune Auto Care (a Carl Icahn acquired company).
Prior to RepairPal Chan was at Branders.com , the nation's largest online B2B seller of promotional items. Chan established a sales team to become a leading B2B sales network in the $19 billion Advertising Specialty market by managing rapid growth and forging online sales for brands such as Microsoft, AARP, Intel, and Google. He created and implemented the revolutionary web-tour sales and support model. Prior to Branders, Chan joined Franklin Templeton Investments. He played an integral role in many key departments and worked with some of the country's best portfolio managers. While on the Equity Trading desk he was responsible for trading over $3 billion of overnight repurchase agreements with JP Morgan, Bank of America and Goldman Sachs.
"Accelerating our growth and differentiating our offerings is critical to our success. Chan's deep experience and proven track record will be the catalyst we need to extend our value as the top provider of tire marketing & real-time analytics," Shaffer said.
About Tire Consumer
TireConsumer.com is the world's first "Tire Price Search Engine". Giving consumers one resource to compare prices at all local tire shops, and provides retailers an affordable lead generation platform to land new customers and improve their back office operations. We are updating the platform now and should be operational by the end of March. Please stop by. www.TireConsumer.com
Media Contact: Hannah Yarbrough (650) 479-5667
View original content with multimedia: http://www.prnewswire.com/news-releases/tire-consumer-welcomes-chan-patel-as-ceo-300587450.html
SOURCE Tire Consumer LLC | PALO ALTO, Calif., Jan.24,2018 /PRNewswire/ -- Tire Consumer, world's first tire search engine, announced appointment Chan Patel as CEO. Patel brings 20 years experience in B2B sector. passionate thrives on growth entrepreneurial spirit innovative ideas. replaces CEO founder Tim Shaffer continue work as COO& Founder at Tire Consumer.
"Chan driving force behind RepairPal& Branders.com success. Now set Tire Consumers strategy first Tire Search Engine in automotive sector. look forward to Chan's leadership company," Shaffer said.
thrilled with opportunity Tire Consumer understand magnitude. Tire Consumer set to grow rapidly become leader in Tire Search market innovate creating multiple value propositions for clients consumers. look forward to with Tire Consumer team building world class enterprise marketing company," Patel .
Before Tire Consumer Chan led sales for RepairPal. leadership built largest trusted network of auto repair shops in all 50 states. doubled sales delivered record sales. leader secured partnerships with industry leaders include BOSCH Technet Precision Tune Auto Care (a Carl Icahn company).
Prior to RepairPal Chan was at Branders.com, nation's largest online B2B seller of promotional items. Chan established sales team leading B2B sales network in $19 billion Advertising Specialty market managing rapid growth forging online sales for brands Microsoft, AARP Intel, Google. created implemented web-tour sales support model. Chan joined Franklin Templeton Investments. integral role in key departments worked with country's best portfolio managers. on Equity Trading desk responsible for trading over $3 billion of overnight repurchase agreements with JP Morgan, Bank of America Goldman Sachs.
"Accelerating growth differentiating offerings is critical to success. Chan's deep experience track record catalyst to extend value as top provider of tire marketing& real-time analytics," Shaffer said.
About Tire Consumer TireConsumer.com world's first "Tire Price Search Engine". Giving consumers one resource to compare prices local tire shops, provides retailers affordable lead generation platform to land new customers improve back office operations. updating platform now should operational by end of March. stop www.TireConsumer.com
Media Contact: Hannah Yarbrough (650) 479-5667
View original content with multimedia: http://www.prnewswire.com/news-releases/tire-consumer-welcomes-chan-patel-as-ceo-300587450.html SOURCE Tire Consumer LLC | 0.2 |
Haitians will no longer be eligible for U.S. visas given to low-skilled workers, the Trump administration said on Wednesday, bringing an end to a small-scale effort to employ Haitians in the United States after a catastrophic 2010 earthquake.
The Department of Homeland Security (DHS) announced the change less than a week after President Donald Trump reportedly questioned in an Oval Office meeting why the United States would want to take in immigrants from Haiti and African nations, referring to them as "s___hole" countries. Trump has denied using that word.
DHS said in a regulatory filing that it was removing Haiti from lists of more than 80 countries whose citizens can be granted H-2A and H-2B visas, given to seasonal workers in agriculture and other industries.
It cited what it said were "high levels of fraud and abuse" by Haitians with the visas, and a "high rate of overstaying the terms" of their visas.
A DHS report published last year stated that Haitians on a variety of non-immigrant visas, including H-2As and H-2Bs, had a roughly 40 percent visa overstay rate in the 2016 fiscal year.
Belize and Samoa were also removed from the lists, for risks stemming from human trafficking and not taking back nationals ordered removed from the United States, respectively.
Just a few dozen Haitians entered the United States on the visas each year since they were given permission to do so in 2012 by the Obama administration, according to DHS data.
Sixty-five Haitians entered the United States on H-2A visas, given for agricultural work, in the 2016 fiscal year, according to DHS data, and 54 Haitians were granted H-2A visas by the State Department between March and November 2017. The number of Haitians entering in 2016 on H-2B visas, which are for non-agricultural seasonal work, was more than zero but too low to report, according to DHS.
Supporters of the visas say they gave Haitians a rare opportunity to work legally in the United States, contribute to the U.S. economy, and help fund the recovery of Haiti after the earthquake, which killed more than 200,000 people.
"They're just cutting off the most economically beneficial visa for the Haitian people," said Sarah Williamson, founder of PTP Consulting, a Virginia-based consultancy that ran a pilot program to bring Haitians to the United States on the visas. "Even though not many people have been able to avail themselves of it, it's been hugely transformational for those who have participated."
The Haitian embassy in the United States did not immediately respond to a request for comment. Officials in Haiti were not immediately available for comment.
In an interview with Reuters on Wednesday, Trump praised Haitians.
"I love the people. There's a tremendous warmth," he said. "And they're very hard-working people."
Humanitarian groups and Republican and Democratic members of Congress lobbied the Obama administration to make Haiti eligible for the short-term worker visas, arguing that remittances to family in Haiti would help the country recover from the earthquake. Without H-2A and H-2B visas, there are few legal avenues for most Haitians to go to the United States.
Nicolas Garcia | AFP | Getty Images The full scale of the devastation in hurricane-hit rural Haiti became clear as the death toll surged over 400, three days after Hurricane Matthew leveled huge swaths of the country's south. "The post-earthquake reconstruction efforts ignored migration and remittances entirely," said Michael Clemens, a senior fellow at the Center for Global Development who was heavily involved in the efforts to allow Haitian workers to come to the United States. "We saw it as an opportunity to help Haiti rebuild after the earthquake."
The Obama administration added Haiti to the list of approved countries in 2012, and PTP Consulting stepped in to screen and match Haitian workers with farmers in the United States.
In countries with more experience sending workers to the United States, such as Jamaica, the home-country government typically does much of that work and regulates the H-2A process heavily, Williamson said.
Jon Hegeman, who operates a commercial greenhouse in Alabama, brought in eight Haitian H-2A workers in 2015 through the consultancy, and nine workers in 2016.
Before Hegeman hired Haitians, his business had trouble finding local workers. Within a three-month period, they went through 300 people for eight positions, he said. When he was approached by PTP to participate in the program, he agreed.
"These guys were awesome. They worked hard, you see a smile on their face every day," said Hegeman, who as the child of a missionary was born and largely raised in the Dominican Republic , which neighbors Haiti. "We've changed or impacted communities in Haiti."
He said he would escort his workers to the airport in order to make sure they left the United States when their visas ran out.
"That was one of my biggest concerns," he said. "We had zero visa overstays."
Williamson said PTP was able to ensure the return to Haiti of every worker that came through its program, but said other companies applying for H-2A visas for Haitians may not have been as scrupulous. | Haitians no longer eligible for U.S. visas to low-skilled workers, Trump administration said Wednesday, bringing end to small-scale effort to employ Haitians in United States after catastrophic 2010 earthquake.
Department of Homeland Security (DHS announced change less week after President Donald Trump questioned why United States would want to take in immigrants from Haiti and African nations, referring as "s___hole" countries. Trump denied word.
DHS said removing Haiti from lists of 80 countries whose citizens granted H-2A and H-2B visas, to seasonal workers in agriculture and other industries.
cited "high levels of fraud and abuse" by Haitians with visas, "high rate of overstaying terms" visas.
DHS report stated Haitians on non-immigrant visas, including H-2As and H-2Bs, had roughly 40 percent visa overstay rate in 2016 fiscal year.
Belize and Samoa removed from lists for risks from human trafficking and not taking back nationals removed United States, respectively.
a few dozen Haitians entered United States on visas each year since 2012 by Obama administration, DHS .
Sixty-five Haitians entered on H-2A visas for agricultural work in 2016 fiscal year, DHS,54 Haitians granted H-2A visas by between March and November 2017. number of Haitians entering in 2016 on H-2B visas, for non-agricultural seasonal work, was more than zero but too low to report, DHS.
Supporters of visas say they gave Haitians rare opportunity to work legally in United States, contribute to U.S. economy, help fund recovery of Haiti after earthquake, killed more than 200,000 people.
"They're cutting off economically beneficial visa for Haitian people," said Sarah Williamson, founder of PTP Consulting, Virginia-based consultancy ran pilot program to bring Haitians to United States on visas. "Even not many people avail, it's transformational for those participated."
Haitian embassy in United States did not respond to request for comment. Officials in Haiti were not available for comment.
with Reuters Trump praised Haitians.
love people. tremendous warmth," 're hard-working people."
Humanitarian groups Republican Democratic members Congress lobbied Obama administration to make Haiti eligible for short-term worker visas, arguing remittances to family Haiti would help country recover from earthquake. Without H-2A and H-2B visas few legal avenues for Haitians to go to United States.
Nicolas Garcia| AFP| Getty Images devastation in hurricane-hit rural Haiti clear as death toll surged over 400, three days after Hurricane Matthew south. "The post-earthquake reconstruction efforts ignored migration and remittances entirely," said Michael Clemens, senior fellow at Center for Global Development involved in efforts to allow Haitian workers United States. "We saw it as opportunity to help Haiti rebuild after earthquake."
Obama administration added Haiti to approved countries in 2012, PTP Consulting stepped to screen and match Haitian workers with farmers in United States.
In countries with more experience sending workers to United States such Jamaica, home-country government does much work regulates H-2A process heavily, Williamson .
Jon Hegeman, operates commercial greenhouse in Alabama, brought in eight Haitian H-2A workers in 2015, and nine workers in 2016.
Before Hegeman hired Haitians, business had trouble finding local workers. Within three-month went through 300 people for eight positions, said. approached by PTP to participate program he agreed.
"These guys were awesome. worked hard, smile on face every day," said Hegeman, child of missionary born raised in Dominican Republic, neighbors Haiti. changed or impacted communities in Haiti."
escort workers to airport to make left United States when visas ran out.
biggest concerns," zero visa overstays."
Williamson PTP ensure return to Haiti of every worker through program, other companies applying for H-2A visas for Haitians may not have been scrupulous. | 0.2 |
26 PM / Updated 12 minutes ago BRIEF-Vertex Pharmaceuticals Reports Q4 Shr of $0.39 Reuters Staff 2 Min Read
Jan 31 (Reuters) - Vertex Pharmaceuticals Inc:
* VERTEX PHARMACEUTICALS - QTRLY EARNINGS PER SHARE $0.39; QTRLY NON-GAAP EARNINGS PER SHARE $0.61; QTRLY TOTAL REVENUES $651.6 MILLION VERSUS $458.7 MILLION
* VERTEX PHARMACEUTICALS INC Q4 EARNINGS PER SHARE VIEW $0.53, REVENUE VIEW $594.7 MILLION -- THOMSON REUTERS I/B/E/S
* VERTEX PHARMACEUTICALS - QTRLY TOTAL CF NET PRODUCT REVENUES INCREASED 37 PERCENT TO $621.2 MILLION FROM $454 MILLION FOR Q4 2016
* VERTEX PHARMACEUTICALS - QTRLY NET PRODUCT REVENUES FROM ORKAMBI INCREASED 32 PERCENT TO $365.4 MILLION FROM $276.9 MILLION FOR Q4 2016
* VERTEX PHARMACEUTICALS - QTRLY NET PRODUCT REVENUES FROM KALYDECO INCREASED 44 PERCENT TO $255.8 MILLION FROM $177.1 MILLION FOR Q4 2016
* VERTEX PHARMACEUTICALS - EXPECTS COMBINED GAAP RESEARCH AND DEVELOPMENT AND SG&A EXPENSE IN 2018 WILL BE IN RANGE OF $1.80 BILLION TO $1.95 BILLION
* VERTEX PHARMACEUTICALS - SEES 2018 COMBINED NON-GAAP RESEARCH AND DEVELOPMENT AND SG&A EXPENSE WILL BE IN RANGE OF $1.50 BILLION TO $1.55 BILLION
* VERTEX PHARMACEUTICALS - PLANS TO PROVIDE TOTAL CF PRODUCT REVENUE GUIDANCE FOR FY 2018 UPON ANTICIPATED FDA APPROVAL OF TEZACAFTOR/IVACAFTOR COMBINATION
* VERTEX PHARMACEUTICALS - BOARD AUTHORIZED SHARE REPURCHASE PROGRAM OF UP TO $500 MILLION OF COMMON STOCK THROUGH DEC 31, 2019
* VERTEX PHARMACEUTICALS - REPURCHASE PROGRAM IS EXPECTED TO BE EXECUTED OVER TWO YEARS Source text for Eikon: Further company coverage: | 26 PM/ Updated 12 minutes ago BRIEF-Vertex Pharmaceuticals Reports Q4 Shr $0.39 Reuters Staff 2 Min Read
Jan 31 (Reuters)- Vertex Pharmaceuticals Inc:
* VERTEX PHARMACEUTICALS- QTRLY EARNINGS PER SHARE $0.39; NON-GAAP EARNINGS PER SHARE $0.61; QTRLY TOTAL REVENUES $651.6 MILLION VERSUS $458.7 MILLION
* VERTEX PHARMACEUTICALS INC Q4 EARNINGS PER SHARE VIEW $0.53, REVENUE VIEW $594.7 MILLION -- THOMSON REUTERS I/B/E/S
* VERTEX PHARMACEUTICALS- QTRLY TOTAL CF NET PRODUCT REVENUES INCREASED 37 PERCENT TO $621.2 MILLION FROM $454 MILLION FOR Q4 2016
VERTEX PHARMACEUTICALS- QTRLY NET PRODUCT REVENUES FROM ORKAMBI INCREASED 32 PERCENT TO $365.4 MILLION FROM $276.9 MILLION FOR Q4 2016
VERTEX PHARMACEUTICALS- QTRLY NET PRODUCT REVENUES FROM KALYDECO INCREASED 44 PERCENT TO $255.8 MILLION FROM $177.1 MILLION FOR Q4 2016
* VERTEX PHARMACEUTICALS- EXPECTS COMBINED GAAP RESEARCH DEVELOPMENT SG&A EXPENSE IN 2018 RANGE $1.80 BILLION TO $1.95 BILLION
* VERTEX PHARMACEUTICALS- SEES 2018 NON-GAAP RESEARCH DEVELOPMENT SG&A EXPENSE $1.50 BILLION TO $1.55 BILLION
* VERTEX PHARMACEUTICALS- PLANS PROVIDE TOTAL CF PRODUCT REVENUE GUIDANCE FY 2018 UPON ANTICIPATED FDA APPROVAL OF TEZACAFTOR/IVACAFTOR COMBINATION
* VERTEX PHARMACEUTICALS- BOARD AUTHORIZED SHARE REPURCHASE PROGRAM UP TO $500 MILLION OF COMMON STOCK THROUGH DEC 31,2019
VERTEX PHARMACEUTICALS- REPURCHASE PROGRAM EXPECTED EXECUTED OVER TWO YEARS Source text for Eikon: Further company coverage: | 0.4 |
ATLANTA, Fidelity Southern Corporation ("Fidelity" or the "Company") (NASDAQ: LION), holding company for Fidelity Bank (the "Bank"), today reported net income of $12.4 million, or $0.46 per diluted share for the quarter ended December 31, 2017, compared with $7.9 million, or $0.30 per diluted share, for the quarter ended September 30, 2017. For the year ended December 31, 2017, the Company reported net income of $39.8 million, or $1.49 per diluted share, compared with $38.8 million, or $1.50 per diluted share, for the same period in 2016.
Fidelity's Chairman, Jim Miller, said, "With a little help from Washington, we made a lot of money as our "old" strategy played out in 2017. That strategy was modified beginning early in 2017. Interest rates are the reason. However, destructive interest rate competition in commercial credits has only now abated and our ability to compete is here. Our efforts did pay off in the 4th quarter. Much more is to come as the loan portfolio is rebalanced to higher income commercial credits as consumer lending is deemphasized to meet today's reality."
President Palmer Proctor added, "We have created good momentum this year in positioning the bank for future organic growth from our commercial bank and mortgage businesses, becoming more efficient and effective in all we do, and being ready for any strategic opportunities that may arise. We are very pleased with the 20% annual growth in our demand and money market deposits, continued improvements in our asset quality, and the 9% or $1.15 per share growth in our tangible book value. We are optimistic about 2018."
RECENT EVENTS
As a result of the Tax Cuts and Jobs Act that was enacted into law on December 22, 2017, Fidelity revalued its net deferred tax liability position to reflect the reduction in the federal corporate income tax rate from 35% to 21%. This revaluation resulted in a one-time income tax benefit of approximately $4.9 million, or $0.18 of diluted earnings per common share, for the fourth quarter of 2017.
BALANCE SHEET
Total assets grew by $71.4 million, or 1.6%, during the quarter, to $4.6 billion at December 31, 2017, compared to $4.5 billion at September 30, 2017, primarily due to increased loan production of $188.7 million, partially offset by a decrease in cash of $125.7 million during the quarter. Demand and money market deposits grew by $27.4 million, but this increase was partially offset by a seasonal decrease in time and savings deposits of $98.6 million, for a net decrease in deposits of $71.2 million during the quarter.
Short-term FHLB borrowings and securities sold under repurchase agreements increased by $135.8 million, due to the increased loan production and lower deposit funding. In addition, other liabilities decreased by $6.8 million, or 15.6%, due primarily to the revaluation of the deferred tax liability at December 31, 2017, as discussed in the Income Taxes section below.
Total assets grew by $187.2 million or 4.3%, to $4.6 billion at December 31, 2017, compared to $4.4 billion at December 31, 2016. Primary drivers of the year over year change were loan growth of $171.1 million, or 4.5%, funded by total deposit increases of $236.6 million, or 6.5%, which allowed the Company to eliminate $92.8 million, or 38.1%, of short-term borrowings, as compared to December 31, 2016.
Loans
Total loans of $3.9 billion at December 31, 2017, increased by $188.7 million, or 5.0%, as compared to September 30, 2017. Increases of $106.5 million in indirect loans, $19.6 million in commercial/SBA loans, and $40.6 million in mortgage loans were noted in the quarter. Indirect loan production increased by $88.9 million, or 34.7%, in anticipation of indirect loan sales in the first half of 2018. Loans held-for-sale increased by $17.4 million, as the pipeline for expected loan sales was raised for the quarter.
Total loans increased by $171.1 million, or 4.5%, compared to December 31, 2016. An increase in mortgage loans of $134.7 million accounted for most of the increase, primarily due to lower sales of mortgage loans of $226.6 million in 2017. Commercial and construction portfolios also experienced growth year over year.
Asset Quality
Asset quality remained strong as evidenced by the reduction in non performing assets, excluding the guaranteed portion of SBA and GNMA loans ("adjusted NPA's") and acquired loans. Adjusted NPA's, a non-GAAP measure, decreased by $4.6 million, or 11.5%, during 2017. The reconciliation to the comparable GAAP measure is included in the schedules accompanying this release.
On a linked-quarter basis, the provision for loan losses decreased by $1.4 million, while net charge-offs were flat. Gross charge-offs increased by $1.6 million, offset by an increase in gross recoveries of $1.8 million, on a linked-quarter basis, mainly due to charge-offs of specific reserves established in prior quarters on several C&I loans to operating companies. Annualized net charge-offs remained relatively flat at an increase of 0.1% of average loans. No provision for loan losses was recorded in the fourth quarter due to elevated loan recoveries.
Compared to 2016, the provision for loan losses for the year decreased by $4.0 million, reflecting strong asset quality.
Fair Value Adjustments
Loan servicing rights increased by $725,000, or 0.6%, to $112.6 million at December 31, 2017, compared to $111.9 million at September 30, 2017, and by $13.3 million, or 13.4%, compared to December 31, 2016. Mortgage servicing rights ("MSRs"), the primary component of loan servicing rights, contributed the majority of the change, increasing by $1.6 million and $14.5 million during the quarter and year, respectively.
New loan servicing rights capitalized on sales of mortgage loans with servicing retained decreased by $1.7 million, or 19.8%, for the quarter but increased $766,000, or 2.7%, for the year. Capitalized servicing decreased on a linked-quarter basis due to the seasonality of mortgage production. Historically, production begins to decrease after the strong summer buying season. Capitalized servicing increased for the year even though sales of loans with servicing retained decreased by $305.2 million, or 12.1%, for the year because, as a result of rising interest rates, servicing rights are expected to remain in the portfolio longer, leading to higher projected expected lives. The decrease in sales of loans sold servicing retained was primarily due to fewer originated mortgages from refinance transactions, as year over year, we originated $513.3 million, or 55.7%, fewer refinance loans. This was partially offset by increased volume of purchase money mortgages and new market expansion.
Amortization of MSRs was flat for the linked-quarter, increasing by $48,000, or 1.4%, but was $1.6 million, or 10.2%, lower in 2017 compared to the prior year. The annual decrease is primarily the result of lower actual and predicted early prepayments in 2017, compared to 2016, as a result of the relatively more stable interest rate environment in 2017.
MSRs impairment of $1.5 million was recorded during the quarter, an increase of $932,000, or 171.2%, compared to the prior quarter. The increase in impairment was primarily related to hi | ATLANTA, Fidelity Southern Corporation ("Fidelity" "Company") (NASDAQ: LION), holding company for Fidelity Bank "Bank"), today reported net income of $12.4 million, or $0.46 per diluted share quarter ended December 31,2017, compared with $7.9 million, or $0.30 per diluted share, for quarter ended September 30,2017. year ended December 31,2017, Company reported net income of $39.8 million, or $1.49 per diluted share, compared with $38.8 million, or $1.50 per diluted share, for same period in 2016.
Fidelity's Chairman, Jim Miller, said "With help from Washington, we made a money as "old" strategy in 2017. strategy was modified beginning early in 2017. Interest rates are the reason. destructive interest rate competition in commercial credits has abated ability to compete is here. efforts pay off in the 4th quarter. more to come as loan portfolio is rebalanced to higher income commercial credits as consumer lending deemphasized today's reality."
President Palmer Proctor added, "We created good momentum this year bank for future organic growth from commercial bank and mortgage businesses, becoming more efficient effective ready for strategic opportunities. pleased with 20% annual growth in demand and money market deposits, improvements in asset quality,9% or $1.15 per share growth in tangible book value. optimistic about 2018."
RECENT EVENTS
result Tax Cuts and Jobs Act enacted December 22,2017, Fidelity revalued net deferred tax liability position reflect reduction in federal corporate income tax rate from 35% to 21%. revaluation resulted in one-time income tax benefit of approximately $4.9 million, or $0.18 of diluted earnings per common share, for fourth quarter of 2017.
BALANCE SHEET
Total assets grew by $71.4 million,1.6%, quarter, to $4.6 billion at December 31,2017, compared to $4.5 billion at September 30,2017, due to increased loan production of $188.7 million, partially offset by decrease in cash $125.7 million. Demand and money market deposits grew by $27.4 million, increase partially offset by seasonal decrease in time and savings deposits $98.6 million, for net decrease in deposits of $71.2 million .
Short-term FHLB borrowings and securities sold under repurchase agreements increased by $135.8 million, due to increased loan production and lower deposit funding. other liabilities decreased by $6.8 million, or 15.6%, due to revaluation of deferred tax liability at December 31,2017, discussed in Income Taxes section .
Total assets grew by $187.2 million or 4.3%, to $4.6 billion at December 31,2017, compared to $4.4 billion December 31,2016. Primary drivers year change were loan growth of $171.1 million, or 4.5%, funded by total deposit increases of $236.6 million, or 6.5%, allowed Company to eliminate $92.8 million, or 38.1%, of short-term borrowings, compared to December 31,2016.
Loans
Total loans of $3.9 billion at December 31,2017, increased by $188.7 million, or 5.0%, compared to September 30,2017. Increases of $106.5 million in indirect loans, $19.6 million in commercial/SBA loans, $40.6 million in mortgage loans noted. Indirect loan production increased by $88.9 million, or 34.7%, anticipation of indirect loan sales in first half of 2018. Loans held-for-sale increased by $17.4 million, pipeline for expected loan sales raised quarter.
Total loans increased by $171.1 million, or 4.5%, compared to December 31,2016. increase in mortgage loans of $134.7 million most increase due to lower sales of mortgage loans of $226.6 million in 2017. Commercial and construction portfolios experienced growth year over year.
Asset Quality
Asset quality remained strong by reduction in non performing assets, excluding SBA and GNMA loans ("adjusted NPA's") and acquired loans. Adjusted NPA's, non-GAAP measure, decreased by $4.6 million, or 11.5%, during 2017. reconciliation to comparable GAAP measure included in schedules accompanying release.
linked-quarter basis, provision for loan losses decreased by $1.4 million, net charge-offs flat. Gross charge-offs increased by $1.6 million, offset by increase in gross recoveries of $1.8 million linked-quarter, due to charge-offs of specific reserves in prior quarters on C&I loans to operating companies. Annualized net charge-offs remained flat at increase of 0.1% of average loans. No provision for loan losses in fourth quarter due to elevated loan recoveries.
Compared to 2016, provision for loan losses year decreased by $4.0 million, reflecting strong asset quality.
Fair Value Adjustments
Loan servicing rights increased by $725,000, or 0.6%, to $112.6 million at December 31,2017, compared to $111.9 million at September 30,2017, and by $13.3 million, or 13.4%, compared to December 31,2016. Mortgage servicing rights ("MSRs"), primary component, contributed majority of change, increasing by $1.6 million and $14.5 million during quarter and year, respectively.
New loan servicing rights capitalized on sales mortgage loans with servicing retained decreased by $1.7 million, or 19.8%, for quarter increased $766,000, or 2.7%, for year. Capitalized servicing decreased on linked-quarter basis due to seasonality mortgage production. Historically production begins to decrease after strong summer buying season. Capitalized servicing increased year even though sales of loans with servicing retained decreased by $305.2 million, or 12.1%, for year because rising interest rates, servicing rights expected to remain in portfolio longer, leading to higher projected expected lives. decrease in sales of loans sold servicing retained due to fewer originated mortgages from refinance transactions, year over year, we originated $513.3 million, or 55.7%, fewer refinance loans. partially offset by increased volume of purchase money mortgages and new market expansion.
Amortization of MSRs was flat for linked-quarter, increasing by $48,000, or 1.4%, but was $1.6 million, or 10.2%, lower in 2017 compared to prior year. annual decrease is result of lower actual and predicted early prepayments in 2017, compared to 2016, more stable interest rate environment in 2017.
MSRs impairment of $1.5 million recorded during quarter, increase of $932,000, or 171.2%, compared to prior quarter. increase in impairment was primarily related to hi | 0.3 |
HOUSTON, Jan. 26, 2018 /PRNewswire/ -- American Midstream Partners, LP (NYSE: AMID) ("AMID") today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.4125 per common unit, or $1.65 per unit annually. The fourth quarter 2017 distribution represents the twenty-sixth consecutive quarterly distribution since the Partnership's initial public offering in 2011.
The distribution will be paid February 14, 2018 to unitholders of record as of the close of business on February 7, 2018.
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited partnership formed to provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to end-use markets. American Midstream's assets are strategically located in some of the most prolific offshore and onshore basins in the Permian, Eagle Ford, East Texas, Bakken and Gulf Coast. American Midstream owns or has an ownership interest in approximately 5,100 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semisubmersible floating production system with nameplate processing capacity of 100 MBbl/d of crude oil and 240 MMcf/d of natural gas; and terminal sites with approximately 6.7 MMBbls of storage capacity.
For more information about American Midstream Partners, LP, visit: www.americanmidstream.com . The content of our website is not part of this release.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements related to the Partnership's expectations regarding the timing of the proposed offering and use of proceeds. We have used the words "could," "expect," "intend," "may," "will," "would" and similar terms and phrases to identify forward-looking statements in this press release. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Many of the factors that will determine these results are beyond our ability to control or predict. These factors include the risk factors described in Part I, Item 1A. in our Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 28, 2017, our Form 10-Q for the quarter ended September 30, 2017, filed with the SEC on November 9, 2017, and our other filings with the SEC. All future written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the previous statements. The forward-looking statements herein speak as of the date of this press release. We undertake no obligation to update such statements for any reason, except as required by law.
Investor Contact
American Midstream Partners, LP
Mark Schuck
Director of Investor Relations
(346) 241-3497
ir@americanmidstream.com
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SOURCE American Midstream Partners, LP | HOUSTON, Jan.26,2018 /PRNewswire/ -- American Midstream Partners, LP (NYSE: AMID ("AMID") Board of Directors declared quarterly cash distribution of $0.4125 per common unit, or $1.65 per unit annually. fourth quarter 2017 distribution represents twenty-sixth consecutive quarterly distribution since Partnership's initial public offering 2011.
distribution paid February 14,2018 to unitholders record close of business February 7,2018.
American Midstream Partners LP
growth-oriented limited partnership provide midstream infrastructure links producers natural gas crude oil NGLs condensate specialty chemicals to end-use markets. 's assets located in prolific offshore onshore basins in Permian Eagle Ford East Texas Bakken Gulf Coast. owns ownership interest in 5,100 miles interstate intrastate pipelines gas processing plants fractionation facilities offshore semisubmersible floating production system processing 100 MBbl/d crude oil 240 MMcf/d natural gas; terminal sites with 6.7 MMBbls storage capacity.
information American LP visit www.americanmidstream.com. content website not part of release.
Forward-Looking Statements
press release includes "forward-looking statements" Private Securities Litigation Reform Act of 1995, Section 27A Securities Act Section 21E Securities Exchange Act 1934 amended, including statements related Partnership's expectations timing offering use of proceeds. used words "could," "expect," "intend," "may," "will," "would" similar terms phrases identify forward-looking statements. we believe assumptions forward-looking statements reasonable, assumptions could prove be inaccurate could be incorrect. factors determine results beyond our ability control or predict. factors include risk factors in Part I, Item 1A. Annual Report on Form 10-K for December 31,2016, filed with SEC March 28,2017, Form 10-Q ended September 30,2017, filed SEC November 9,2017, other filings with SEC. future written oral forward-looking statements attributable to us or persons our behalf qualified by previous statements. statements speak of date of this press release. no obligation to update statements for reason, except as required by law.
Investor Contact
American Midstream Partners, LP
Mark Schuck
Director of Investor Relations
(346) 241-3497
ir@americanmidstream.com
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WASHINGTON, Jan 23 (Reuters) - U.S. lawmakers on Tuesday sought a way forward on an immigration deal including protection for "Dreamer" immigrants and border security before federal funding runs out again next month.
On Monday, the Republican-led Congress passed a measure signed into law by President Donald Trump to fund the federal government through Feb. 8 following a three-day shutdown. But they will have to return to thorny budget issues that have now become intertwined with contentious immigration policy.
"We don't have a lot of time in which to get it done," Republican U.S. Senator Mike Rounds told MSNBC.
Trump himself has vacillated on immigration between tough rhetoric demanding a U.S. border wall and a softer tone urging a "bill of love" for Dreamers, prompting Democrats and some Republicans to call him an unreliable negotiating partner.
"Nobody knows for sure that the Republicans & Democrats will be able to reach a deal on DACA by February 8, but everyone will be trying," Trump wrote in a post on Twitter, referring to when government funding would next run out.
"The Dems have just learned that a Shutdown is not the answer!" Trump added, after calling for "a big additional focus put on Military Strength and Border Security."
As federal employees returned to work on Tuesday they faced a new furlough in 17 days if lawmakers and Trump do not find another short-term fix or a longer term budget.
A funding bill easily passed after Senate Democratic leaders accepted a pledge by Republicans to hold a debate later over the fate of the Dreamers and related immigration issues.
Many Republicans have said they want to help Dreamer immigrants brought to the United States illegally as children.
Trump canceled former President Barack Obama's Deferred Action for Childhood Arrivals, or DACA, program that shielded them from deportation. Without congressional action, the program will end in March.
Rounds, along with U.S. Senator Angus King, an independent often aligned with Democrats, said any immigration solution was likely to focus on Dreamers and extra border security.
"We can't try to do comprehensive immigration in three weeks," King told MSNBC, adding on CNN that lawmakers were likely to pass another stopgap bill to fund the government.
Trump's budget director Mick Mulvaney, however, indicated the White House might be looking for a bigger deal.
"We want a large agreement. We want a big deal that solves the reason that we have a DACA problem in the first place," Mulvaney said on CNN. (Reporting by Susan Heavey and Makini Brice; Editing by Andrew Hay) | WASHINGTON Jan 23 (Reuters U.S. lawmakers sought immigration deal protection for "Dreamer" immigrants border security before federal funding next month Monday Republican Congress passed measure signed by President Trump to fund federal government through Feb.8 following three-day shutdown. return to thorny budget issues intertwined with contentious immigration policy.
don't time Republican U.S. Senator Mike Rounds told MSNBC Trump vacillated immigration rhetoric U.S. border wall tone urging "bill of love" for Dreamers, prompting Democrats Republicans call him unreliable negotiating partner.
"Nobody Republicans Democrats reach deal DACA by February 8, everyone trying," Trump government funding .
Dems Shutdown is not answer!" calling additional focus on Military Strength Border Security."
federal employees faced new furlough in 17 days if lawmakers Trump find short-term fix or longer term budget.
funding bill passed after Senate Democratic leaders accepted pledge Republicans debate over fate Dreamers immigration issues.
Republicans want to help Dreamer immigrants illegally .
Trump canceled President Barack Obama's Deferred Action for Childhood Arrivals DACA program shielded deportation. program end in March.
Rounds U.S Senator Angus King said immigration solution likely focus on Dreamers extra border security.
can't comprehensive immigration in three weeks," King lawmakers likely pass another stopgap bill fund government.
Trump's budget director Mick Mulvaney indicated White House might bigger deal.
want large agreement. want big deal solves DACA problem place," Mulvaney said CNN. (Reporting Susan Heavey Makini Brice; Editing Andrew Hay) | 0.6 |
* ECB officials raise concerns about surging common currency * Dollar finds respite but outlook remains grim * Cryptocurrency rout accelerates on clampdown worries * Canadian dollar weakens as BOC rings cautious tone (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, Jan 17 (Reuters) - The euro slipped on Wednesday, pulling back from a three-year high above $1.23 as some European Central Bank officials voiced worries about the currency's strength. The euro's decline helped stabilize the greenback, which was also supported by a weaker Canadian dollar after the Bank of Canada struck a cautious tone on an expected rate hike on Wednesday. The outlook for the dollar, however, remains dour on the view that other central banks besides the Federal Reserve are moving away from the ultra low-rate stance and unconventional tools they adopted after the 2008 global credit crisis. "There's still a lot of bearish sentiment on the dollar," said Minh Trang, senior foreign currency trader at Silicon Valley Bank in Santa Clara, California. Still, the greenback snapped a four-session losing streak. At 11:22AM/16:22 GMT, the index that tracks the dollar against a basket of currencies was up 0.20 percent at 90.574. It hit a three-year low of 90.341 earlier. The Canadian dollar fell 0.38 percent to C$1.2477. The euro was down 0.16 percent at $1.2239 after hitting a three-year peak versus the greenback at $1.2322, Reuters data showed. Digital currencies suffered another day of heavy losses on worries about a widening regulatory crackdown. Bitcoin fell more than 10 percent to below $10,000 for the first time since Dec. 1 on the Luxembourg-based Bitstamp exchange. The biggest digital currency has lost half its value since it peaked near $20,000 about a month ago. ECB WEIGHS IN ON RISING EURO The speed of the euro's rise in early 2018 - up more than 3 percent in the last two weeks - has prompted comments from ECB officials, highlighting growing concerns, according to analysts. ECB policymaker Ewald Nowotny told reporters on Wednesday the euro's recent strength against the dollar is "not helpful," which encouraged a bout of profit-taking before a policy meeting next week. In an interview with Italian newspaper la Repubblica Vitor Constancio, the ECB vice president, said he did not rule out that monetary policy would still continue to be "very accommodating for a long time". "The euro's strength will cause some concerns to the ECB and it will definitely complicate their policymaking thinking, and some investors are taking profits after the recent rally," said Adam Cole, chief FX strategist at RBC Capital Markets in London. | ECB officials raise concerns about surging common currency* Dollar finds respite but outlook remains grim* Cryptocurrency rout accelerates on clampdown worries* Canadian dollar weakens as BOC rings cautious tone (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, Jan 17 (Reuters)- euro slipped Wednesday, pulling back from three-year high above $1.23 European Central Bank officials voiced worries about currency's strength. euro's decline helped stabilize greenback, supported by weaker Canadian dollar after Bank of Canada struck cautious tone on expected rate hike Wednesday. outlook for dollar remains dour on view other central banks Federal Reserve moving away from ultra low-rate stance and unconventional tools adopted after 2008 global credit crisis. "There bearish sentiment on dollar," said Minh Trang, senior foreign currency trader at Silicon Valley Bank in Santa Clara, California. greenback snapped four-session losing streak. At 11:22AM/16:22 GMT index tracks dollar against basket currencies up 0.20 percent at 90.574. It hit three-year low of 90.341 earlier. Canadian dollar fell 0.38 percent to C$1.2477. euro was down 0.16 percent at $1.2239 after three-year peak versus greenback at $1.2322, Reuters data showed. Digital currencies suffered day heavy losses on worries about widening regulatory crackdown. Bitcoin fell more than 10 percent to below $10,000 for first time since Dec.1 on Luxembourg Bitstamp exchange. biggest digital currency lost half value since peaked near $20,000 month ago. ECB WEIGHS IN ON RISING EURO speed of euro's rise in early 2018- up more than 3 percent in last two weeks- prompted comments from ECB officials, highlighting growing concerns, according analysts. ECB policymaker Ewald Nowotny told reporters Wednesday euro's recent strength against dollar is "not helpful," encouraged profit-taking before policy meeting next week. interview with Italian newspaper la Repubblica Vitor Constancio, ECB vice president, said did not rule out monetary policy would still continue be "very accommodating for long time". "The euro's strength will cause concerns to ECB complicate their policymaking thinking, investors taking profits after recent rally," said Adam Cole, chief FX strategist at RBC Capital Markets in London. | 0.1 |
SPRINGFIELD, Mo., Jan. 4, 2018 /PRNewswire/ -- Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, expects to report fourth quarter 2017 preliminary earnings after the market closes on Tuesday, January 23, 2018, and host a conference call on Wednesday, January 24, 2018, at 2:00 p.m. Central Time (3:00 p.m. Eastern Time).
Individuals interested in listening to the conference call may dial 1.833.832.5121 and enter the passcode 7147459. The call will be available live or in a recorded version at the Company's Investor Relations website, http://investors.greatsouthernbank.com .
The Company will notify the public that fourth quarter and annual 2017 results have been issued through a news release and will post the results to the Company's Investor Relations website. The earnings release will also be available on the Securities and Exchange Commission's (SEC) website, www.sec.gov , as an exhibit to a Current Report on Form 8-K that will be furnished by the Company to the SEC.
With total assets of $4.5 billion, Great Southern offers a broad range of banking services to commercial and consumer customers. Headquartered in Springfield, Mo., the Company operates 104 retail banking centers in Missouri, Arkansas, Iowa, Kansas, Minnesota and Nebraska, and commercial loan production offices in Chicago, Dallas and Tulsa, Okla. Great Southern Bancorp is a public company and its common stock (ticker: GSBC) is listed on the NASDAQ Global Select Market.
www.GreatSouthernBank.com
Forward-Looking Statements
When used in this press release and documents filed or furnished by the Company with the Securities and Exchange Commission (the "SEC"), in the Company's press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, including, among other things, (i) non-interest expense reductions from Great Southern's banking center consolidations might be less than anticipated and the costs of the consolidation and impairment of the value of the affected premises might be greater than expected; (ii) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company's merger and acquisition activities (including the Fifth Third branch acquisition in 2016) might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (iii) changes in economic conditions, either nationally or in the Company's market areas; (iv) fluctuations in interest rates; (v) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses; (vi) the possibility of other-than-temporary impairments of securities held in the Company's securities portfolio; (vii) the Company's ability to access cost-effective funding; (viii) fluctuations in real estate values and both residential and commercial real estate market conditions; (ix) demand for loans and deposits in the Company's market areas; (x) the ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace; (xi) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xii) legislative or regulatory changes that adversely affect the Company's business, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act and its implementing regulations, and the overdraft protection regulations and customers' responses thereto; (xiii) changes in accounting principles, policies or guidelines; (xiv) monetary and fiscal policies of the Federal Reserve Board and the U.S. Government and other governmental initiatives affecting the financial services industry; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to increase its allowance for loan losses or to write-down assets; (xvi) costs and effects of litigation, including settlements and judgments; and (xvii) competition. The Company wishes to advise readers that the factors listed above and other risks described from time to time in documents filed or furnished by the Company with the SEC could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.
The Company does not undertake -and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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SOURCE Great Southern Bancorp, Inc. | SPRINGFIELD Mo., Jan.4,2018 /PRNewswire -- Great Southern Bancorp. :GSBC), report fourth quarter 2017 earnings market January 23,2018, conference call Wednesday January 24,2018 2:00 p.m. Central (3:00 p.m. Eastern Time).
dial 1.833.832.5121 enter passcode 7147459. available live Company Investor Relations website, http://investors.greatsouthernbank.com Company notify fourth quarter 2017 results post results Investor Relations website earnings release Securities Exchange Commission's website www.sec.gov, Current Report Form 8-K .
assets $4.5 billion Great Southern banking services Springfield Mo., operates 104 retail banking centers Missouri Arkansas Iowa Kansas Minnesota Nebraska loan production offices Chicago Dallas Tulsa Okla. public company stock GSBC NASDAQ Global Select Market.
www.GreatSouthernBank.com
Forward-Looking Statements
press release documents communications oral statements approval "will result," continue," "estimate," "project," "intends "forward-looking statements Private Securities Litigation Reform Act of 1995. statements risks expense reductions 's less costs impairment value premises greater revenues savings earnings benefits merger acquisition Fifth Third branch acquisition 2016 realized costs integration retention greater changes economic conditions fluctuations interest rates risks lending loan delinquencies write-offs impairments securities access funding fluctuations real estate values demand loans deposits adapt technological changes security measures cyber attack legislative regulatory changes Dodd-Frank Wall Street Reform Consumer Protection Act overdraft protection regulations changes accounting principles monetary fiscal policies Federal Reserve Board U.S Government results require increase allowance loan losses costs effects litigation competition. Company advise risks affect financial performance cause results differ from opinions .
does not obligation- release result revisions .
original content multimedia http://www.prnewswire.com/news-releases/great-southern-bancorp-inc-announces-fourth-quarter-2017-preliminary-earnings-release-date-and-conference-call-300577756.html Great Southern Bancorp, Inc. | 0.9 |
TEANECK, N.J., Jan. 10, 2018 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process services, will announce results for the fourth quarter of 2017 on Wednesday, February 7, 2018, before market open.
Following the release, Cognizant management will conduct a conference call at 8:00 a.m. (Eastern) to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial (877) 810-9510 and international callers can dial (201) 493-6778 and provide the following conference passcode: Cognizant Call.
The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com . Please go to the website at least 15 minutes prior to the call to register and to download and install any necessary audio software.
For those who cannot access the live broadcast, a replay will be available by dialing (877) 660-6853 for domestic callers or (201) 612-7415 for international callers and entering 13675240 from two hours after the end of the call until 11:59 p.m. (Eastern) on Wednesday, February 21, 2018. The replay will also be available at Cognizant's website http://investors.cognizant.com for 60 days following the call.
About Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 205 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
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SOURCE Cognizant | TEANECK, N.J., Jan.10,2018 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), provider information technology consulting business process services, announce results fourth quarter 2017 Wednesday February 7,2018 before market open.
Cognizant management conduct conference call 8:00 a.m. (Eastern discuss operating performance quarter. domestic callers dial (877) 810-9510 international callers dial (201) 493-6778 provide conference passcode: Cognizant Call.
conference call available on Investor Relations section Cognizant website http://investors.cognizant.com go to website 15 minutes prior call register download install audio software.
For cannot access live broadcast replay available by dialing (877) 660-6853 domestic callers or (201) 612-7415 for international callers entering 13675240 two hours after end call until 11:59 p.m. (Eastern) Wednesday, February 21,2018. replay available at Cognizant's website http://investors.cognizant.com 60 days following call.
About Cognizant
Cognizant (Nasdaq-100: CTSH) is world's leading professional services companies, transforming clients' business operating technology models for digital era. unique industry-based consultative approach helps clients envision build run innovative efficient businesses. Headquartered in U.S., Cognizant ranked 205 Fortune 500 most admired companies world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
View original content with multimedia: http://www.prnewswire.com/news-releases/cognizant-schedules-fourth-quarter-2017-earnings-release-and-conference-call-300580376.html SOURCE Cognizant | 0.4 |
Brazil expects to see upwards of 3 percent gross domestic product (GDP) growth in 2018, Brazilian Finance Minister Henrique Meirelles told CNBC Tuesday, a figure that flies in the face of the International Monetary Fund's (IMF) forecast of 1.5 percent.
Speaking at the World Economic Forum in Davos , the head policymaker for Latin America's largest economy explained why he thought the IMF's forecast was wrong.
"The numbers have been revised every day, or every week, or every month by the IMF in general," the finance minister said. "The market has moved steadily up, around 2.85 today. In our case we have been leading the market last year, we have this forecast that is going to happen, which is about 1.1 percent for 2017, and we think this year it's going be around 3 percent or higher."
Meirelles cited future pension reform, GDP growth and the country's upcoming elections as cause for optimism. Brazilians will head to the polls in October 2018, with many hoping to bring an end to years of corruption-plagued administrations.
Meirelles took the position in 2016 amid the global commodities downturn and during the impeachment of former president Dilma Rousseff, previously serving as central bank governor from 2003 to 2011.
Cris Faga | LatinContent | Getty Images Members of the Roofless Movement protest againts economic reforms proposed by President Michel Temer at Paulista Avenue in Sao Paulo on June 30, 2017. Brazil's GDP did show signs of recovery in the fourth quarter of 2017 for the first time after suffering the longest recession in its history, though further confidence in the country remains sensitive to political developments, according to the Organization of Economic Cooperation and Development (OECD).
Meirelles would not confirm whether he will make a presidential bid for October, though he told CNBC he is thinking about it, and will make his decision in "late March or early April."
"If the decision in October proves to be the right one and the country embarks on a higher growth rate next year which I think is possible, I think the story could be a reasonable one, or even a very good one," he said.
Brazil's government has pledged a raft of reforms, but regional watchers warn that continued reform is not guaranteed, particularly given the country's upcoming presidential election in October 2018 which will pit unpopular incumbent Michel Temer against the scandal-ridden former president Lula da Silva. Investors are already warning of volatility .
Dogged by political corruption scandals and high-profile arrests, the country of 208 million continues to miss out on stronger growth thanks to a combination of red tape, protectionist measures, low export levels, high import tariffs and inadequate infrastructure.
Credit Suisse in 2017 named Brazil the most closed emerging market economy, and Standard & Poor's recently downgraded Brazil's credit rating, citing slow political progress.
show chapters What is Davos? 15 Hours Ago | 03:12 | Brazil expects 3 percent gross domestic product (GDP growth 2018, Brazilian Finance Minister Henrique Meirelles told CNBC flies face International Monetary Fund's (IMF forecast 1.5 percent.
World Economic Forum Davos head policymaker Latin America's largest economy explained IMF's forecast wrong.
numbers revised by IMF. market moved up around 2.85 today. leading market last year forecast 1.1 percent 2017, this year around 3 percent or higher."
Meirelles cited future pension reform GDP growth elections cause optimism. Brazilians head polls October 2018 hoping to end corruption-plagued administrations.
Meirelles took position 2016 global commodities downturn impeachment former president Dilma Rousseff central bank governor 2003 to 2011.
Cris Faga| LatinContent| Getty Images Members Roofless Movement protest economic reforms by President Michel Temer at Paulista Avenue Sao Paulo June 30,2017. Brazil's GDP show signs recovery fourth quarter 2017 first longest recession, confidence sensitive to political developments, Organization of Economic Cooperation and Development (OECD).
Meirelles would not confirm presidential bid October CNBC thinking about decision "late March or early April."
"If decision October right higher growth rate next year story could be reasonable or good one," .
Brazil's government pledged reforms regional watchers warn continued reform not guaranteed, upcoming presidential election October 2018 pit unpopular incumbent Michel Temer against scandal former president Lula da Silva. Investors warning volatility .
Dogged by political corruption scandals high-profile arrests, country of 208 million miss stronger growth thanks red tape protectionist measures low export levels high import tariffs inadequate infrastructure.
Credit Suisse 2017 named Brazil most closed emerging market economy, Standard& Poor's downgraded Brazil's credit rating citing slow political progress.
show chapters What is Davos? 15 Hours Ago| 03:12 | 0.5 |
The euro jumped against the dollar on Thursday after the European Central Bank said it could revisit its communication stance in early 2018, boosting expectations that policymakers are preparing to reduce their vast monetary stimulus program.
With the euro zone seeing its best growth in a decade, the ECB should gradually shift its stance to avoid a more disruptive move later and look at a broader revision of its policy guidance to reduce the focus on bond purchases and raise the emphasis on interest rates, accounts of the ECB's December meeting showed.
Krisztian Bocsi | Bloomberg | Getty Images Mario Draghi, president of the European Central Bank (ECB), reacts during a news conference to announce the bank's interest rate decision at the ECB headquarters in Frankfurt, Germany, on Thursday, Jan. 19, 2017. "It's certainly more of a hawkish tilt in the minutes," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.
"This has been long expected but there was more formality in the minutes around how the bank will manage the forward guidance process as they exit unconventional policy," Schamotta said.
"There was quite a bit of money sitting on the sidelines looking for this hint."
The euro was up 0.73 percent to $1.2032, on pace for its biggest single-day percentage gain against the greenback in about two months.
"This ought not to be a big surprise, given the pace of recovery we have seen and time horizon for the QE program, but it has nevertheless given euro bulls a reason to be more confident," Neil Wilson, analyst at ETX Capital said in a note.
The dollar index , which measures the greenback against six rival currencies, was down 0.48 percent at 91.89, after falling to a nearly one-week low 91.808.
The greenback extended losses after data showed U.S. producer prices fell for the first time in nearly 1-1/2 years in December amid declining costs for services.
Weak inflation at the producer level could add to concerns that the factors restraining inflation could become more persistent and result in the Federal Reserve being more cautious about raising interest rates this year.
The U.S. central bank's preferred inflation measure, the personal consumption expenditures price index excluding food and energy, has undershot its target since May 2012.
The Canadian dollar steadied against the greenback after hitting a nearly two-week low as investors weighed chances of a Bank of Canada interest rate hike next week and worried about the possibility of a U.S. withdrawal from NAFTA.
Bitcoin was 10.47 percent lower at $13,332.24 on the Luxembourg-based Bitstamp exchange after South Korea's government said it plans to ban cryptocurrency trading. | euro jumped against dollar Thursday European Central Bank could revisit communication stance early 2018, expectations policymakers reduce monetary stimulus program.
euro zone best growth decade ECB should shift stance avoid disruptive move revision policy guidance reduce focus bond purchases raise emphasis on interest rates, accounts ECB's December meeting showed.
Krisztian Bocsi| Bloomberg| Getty Images Mario Draghi president European Central Bank (ECB), reacts announce bank's interest rate decision ECB headquarters Frankfurt Germany Thursday Jan.19,2017. hawkish tilt in minutes," Karl Schamotta director global product market strategy Cambridge Global Payments Toronto.
formality bank manage guidance process exit unconventional policy," .
money sidelines hint."
euro up 0.73 percent to $1.2032, biggest single-day percentage gain against greenback two months.
pace recovery QE program given euro bulls reason more confident," Neil Wilson analyst ETX Capital .
dollar index measures greenback against six rival currencies down 0.48 percent at 91.89, after falling to one-week low 91.808.
greenback extended losses after U.S. producer prices fell first time December amid declining costs for services.
Weak inflation producer could add concerns factors restraining inflation could become persistent Federal Reserve cautious about raising interest rates year.
U.S. central bank's preferred inflation measure personal consumption expenditures price index excluding food and energy undershot target since May 2012.
Canadian dollar steadied against greenback after two-week low investors weighed Bank of Canada interest rate hike next week U.S. withdrawal from NAFTA.
Bitcoin was 10.47 percent lower at $13,332.24 Luxembourg-based Bitstamp exchange after South Korea's government plans to ban cryptocurrency trading. | 0.5 |
WASHINGTON, Jan. 8, 2018 /PRNewswire/ -- MPOWER Financing , a public benefit corporation focused on removing financial barriers to higher education in the U.S., has appointed Lutz Braum as its vice president of marketing and business development.
Braum, who has over 25 years of experience in marketing financial services, will be responsible for driving growth of the company's student loan portfolio by increasing awareness of MPOWER Financing among higher education institutions in the U.S., as well as prospective high-potential students from all over the world.
Previously, Braum was chief marketing officer of Higher One, the largest digital-only banking provider in the U.S. with more than two million student checking accounts and over 800 college campus clients, which was sold to Customers Bank in 2016 and is currently operating as BankMobile. Earlier in his career, he was the head of consumer marketing for PayPal and SVP of marketing at Wells Fargo Bank. Braum started his career at Citibank where he held increasingly senior marketing roles both domestically and internationally. He earned his M.B.A. at Wharton and B.S. in Finance from Arizona State University after moving to the U.S. from Germany.
"Lutz has a strong background in driving revenue, customer engagement and loyalty by building compelling value propositions and executing integrated marketing campaigns across on- and off-line channels," said Manu Smadja, CEO and co-founder of MPOWER Financing. "His expertise and global experience is exactly what we need to reach our $100 million loan portfolio goal. We know he'll do an excellent job enhancing both B2B and B2C marketing capabilities and will reach even more high-potential students who aspire to obtain a degree from the U.S."
"I believe that helping to turn the dreams of future global leaders and innovators into reality is of utmost importance, and their education should not be interrupted or derailed by a financial shortfall," said Braum. "I look forward to helping international students study in the U.S and become global citizens by offering them a supplemental financing source that doesn't depend on a co-signer or a traditional credit score."
About MPOWER Financing
MPOWER Financing is an innovative fintech company and provider of educational loans to high-promise international students. MPOWER Financing helps students build their credit histories and provides them with personal finance, education and gateway financial products to prepare for life after college. The team is backed by Zephyr Management, Goal Structured Solutions, 1776, Village Capital, VARIV, DreamIt, Fresco, Chilango, K Street and University Ventures. For more information, please visit www.mpowerfinancing.com , or follow MPOWER Financing on Twitter , Facebook and LinkedIn .
Media Contacts:
Richard Anderson / Cara Johnson
Feintuch Communications
718-986-1596 / 212-808-4904
MPower@feintuchpr.com
View original content: http://www.prnewswire.com/news-releases/mpower-financing-hires-lutz-braum-fintech-and-higher-ed-marketing-veteran-300578643.html
SOURCE MPOWER Financing | WASHINGTON Jan.8,2018 /PRNewswire MPOWER Financing public benefit financial barriers higher education appointed Lutz Braum vice president marketing business development.
Braum 25 years experience financial services growth student loan portfolio awareness MPOWER Financing higher education institutions -potential students .
Braum chief marketing officer Higher One largest digital-only banking provider U.S. two million student accounts 800 college campus clients sold to Customers Bank 2016 BankMobile head consumer marketing PayPal SVP marketing Wells Fargo Bank. Citibank senior marketing roles. M.B.A. Wharton B.S. Finance Arizona State University U.S. .
"Lutz background revenue customer engagement loyalty value propositions marketing campaigns Manu Smadja CEO co-founder MPOWER Financing expertise global experience $100 million loan portfolio goal. B2B B2C marketing reach high-potential students .S."
dreams future global leaders innovators reality education not by financial shortfall," international students global citizens supplemental financing co-signer credit score."
MPOWER Financing
innovative fintech company provider educational loans international students helps students build credit histories provides personal finance education gateway financial products life after college. team backed by Zephyr Management Goal Structured Solutions 1776 Village Capital VARIV DreamIt Fresco Chilango K Street University Ventures. visit www.mpowerfinancing.com, follow MPOWER Financing Twitter Facebook LinkedIn .
Contacts Richard Anderson/ Cara Johnson
Feintuch Communications
718-986-1596/ 212-808-4904
MPower@feintuchpr.com
View original content: http://www.prnewswire.com/news-releases/mpower-financing-hires-lutz-braum-fintech-and-higher-ed-marketing-veteran-300578643.html SOURCE MPOWER Financing | 0.8 |
ST. PAUL, Minn., Jan. 19, 2018 /PRNewswire/ -- Summit Companies ("Summit"), a leading fire and life safety service and installation company, announced today that it has completed the acquisition of Arizona-based Alliance Fire Protection Co. and Alliance Fire Protection Special Systems, Inc. ("Alliance"), establishing a new region for the company in Arizona. Summit Companies is owned by management and CI Capital Partners. Terms of the transaction were not disclosed.
Alliance designs, engineers and installs commercial, industrial and multi-family residential fire protection systems for new construction projects and renovations, and provides ongoing maintenance and inspection services of these systems. Alliance was founded in 1981 and is based in Tempe, Arizona. Alliance is the sixth add-on acquisition completed since CI Capital invested in the company in September 2017 and Summit Companies' first add-on acquisition outside of its core Midwestern geography. Summit Companies is pursuing additional add-on acquisitions in other regions of the United States.
"We are focused on building a national business to better serve our customers, and our acquisition strategy is essential in achieving that goal," stated Summit CEO, Jeff Evrard. "Alliance has an excellent reputation in the Arizona market, making this acquisition an ideal first step to increasing our presence in the Southwestern United States. We welcome the entire Alliance team to the Summit family and are excited to grow the Arizona region through organic growth and future acquisitions."
"Over our 35 year history, Alliance has built a legacy of high quality work and reliability while providing a critical service to our customers," said Lyle "Jag" Amdahl, President of Alliance. "We are thrilled to form this partnership and move to the next chapter in our company's evolution."
"Through five add-on acquisitions in Summit's core Midwestern market and the establishment of a new region with the acquisition of Alliance, Jeff and the rest of Summit's management team have made tremendous progress accelerating their acquisition strategy in a short amount of time," said Timothy Hall, Managing Director, CI Capital Partners. "We look forward to continuing to support their efforts."
About Summit Companies
Founded in 1999, Summit provides complete fire and life safety services designed to protect buildings, assets and people. The company has expertise across the entire spectrum of fire and life safety categories including both wet and dry suppression, clean agent suppression, alarm and security monitoring, fire extinguishers, kitchen hoods and special hazard systems. Summit has the experience and capabilities to handle projects from a small tenant remodel to a large industrial facility. The company services 35,000+ commercial, industrial, government, healthcare and multi-family residential facilities annually. Learn more at www.SummitCoUS.com .
About Alliance Fire Protection
Alliance Fire Protection began operations as a fire sprinkler company, and quickly earned a reputation for high quality workmanship. Through the years the company has expanded into all aspects of commercial and industrial fire protection, but the drive for quality still lives in all aspects of operations. Today, Alliance is truly a full service fire protection company. We are proud to offer the following: design and engineering, sprinkler fabrication, installation, service and inspections, off-site monitoring, and training programs. Learn more at www.afpc.com .
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.4 billion in assets under management, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since inception, CI Capital and its portfolio companies have made over 260 acquisitions representing over $9 billion in enterprise value.
Media Contact:
Daniel Yunger
KEKST&Co.
212.521.4800
View original content: http://www.prnewswire.com/news-releases/summit-companies-acquires-alliance-fire-protection-establishing-a-presence-in-arizona-300585175.html
SOURCE Summit Companies | ST. PAUL, Minn., Jan.19,2018 /PRNewswire/ Summit Companies leading fire life safety service installation company acquisition of Arizona Alliance Fire Protection Co. Alliance Fire Protection Special Systems, Inc. new region Arizona. owned by management CI Capital Partners. Terms transaction not disclosed.
Alliance designs engineers installs commercial industrial residential fire protection systems for new construction projects renovations maintenance inspection services. founded 1981 based Tempe, Arizona. sixth add-on acquisition since CI Capital September 2017 Summit' first add-on acquisition outside Midwestern geography. pursuing additional add-on acquisitions in other regions United States.
national business serve customers, acquisition strategy essential Summit CEO Jeff Evrard "Alliance excellent reputation in Arizona market acquisition ideal first step Southwestern United States. welcome Alliance team Summit excited grow Arizona region through organic growth future acquisitions."
35 year Alliance legacy high quality work reliability critical service customers," Lyle "Jag" Amdahl President Alliance. form partnership move next chapter evolution."
five add-on acquisitions in Summit's core Midwestern market new region with acquisition Alliance Jeff management team progress accelerating acquisition strategy Timothy Hall Managing Director CI Capital Partners. support efforts."
Summit Companies
Founded 1999, Summit provides fire life safety services protect buildings assets people. expertise across fire life safety categories including wet dry suppression clean agent suppression alarm security monitoring fire extinguishers kitchen hoods special hazard systems. Summit handle projects small tenant remodel to large industrial facility. services 35,000+ commercial industrial government healthcare residential facilities annually. www.SummitCoUS.com .
Alliance Fire Protection
as fire sprinkler company reputation for high quality workmanship. expanded into commercial industrial fire protection drive for quality lives. Alliance full service fire protection company. offer design engineering sprinkler fabrication installation service inspections off-site monitoring training programs. www.afpc.com .
CI Capital Partners
CI North American private equity investment firm $2.4 billion assets investing in middle-market companies since 1993. forms partnerships with management teams entrepreneurs build businesses through acquisitions organic growth operational improvements. Since over 260 acquisitions $9 billion in enterprise value.
Contact Daniel Yunger
KEKST&Co.
212.521.4800
View original content http://www.prnewswire.com/news-releases/summit-companies-acquires-alliance-fire-protection-establishing-a-presence-in-arizona-300585175.html SOURCE Summit Companies | 0.6 |
SOUTHFIELD, Mich., Jan. 25, 2018 /PRNewswire/ -- P&M Corporate Finance (PMCF) is pleased to announce the sale of Plymouth Packaging, Inc. ("Plymouth", "Box on Demand" or the "Company") to WestRock Company ("WestRock", NYSE: WRK). Headquartered in Battle Creek, Michigan, Plymouth is an innovator in the corrugated packaging industry and pioneered an on-demand packaging system that uses corrugated fanfold materials and proprietary box making machinery. Plymouth's "Box on Demand" systems provide customers with the ability to make right-sized corrugated boxes at their facilities to cost effectively package a wide range and variability of products, reducing both packaging and shipping costs when compared to traditional corrugated boxes. Plymouth has successfully installed these integrated packaging systems at a large number of companies across a variety of end markets including e-commerce, building products, furniture, industrial and many others.
Plymouth serves its Box on Demand customers across North America from three strategically located corrugated fanfold manufacturing facilities as well as numerous distribution centers. These facilities are equipped with industry leading corrugated fanfold manufacturing technology including many custom and proprietary modifications. In addition to its Box on Demand product offering, Plymouth has traditional corrugated box manufacturing capabilities and operates a niche, short to medium volume sheet plant that serves the Southeast Michigan market. Also included in the transaction were Plymouth's ownership stake in Panotec, its Box on Demand machinery manufacturer based in Italy, and the Company's investment in Alliance Sheets, one of the largest corrugators in the United States.
Plymouth was founded in 1991 by Paul Magnell and was owned by the Magnell family prior to the sale. Greg Magnell served as president of the Company and will continue in his leadership role under WestRock's ownership. "We are excited to become part of WestRock and believe there is a strong cultural fit with our two organizations," said Greg Magnell. "The combination provides access to a much broader geographic footprint and significant additional resources that will help this business continue to grow and serve our customers."
The Magnells selected John Hart and PMCF's Plastics & Packaging Group to serve as Plymouth's M&A advisor / investment banker in the transaction. Greg Magnell noted, "We are very happy with our decision to hire PMCF as our M&A advisor. John and his team are clearly experts in the packaging industry and knew how to best position a unique company like ours to the right group of prospective buyers. They provided heavy senior level involvement throughout each stage of the process and were instrumental in making this a successful transaction for us. We would highly recommend PMCF to other packaging companies considering a transaction."
About PMCF
PMCF is an award-winning middle market investment bank providing global merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing services to the plastics and packaging, medical technology, industrials, and business services industries. PMCF has offices in Chicago and Detroit and around the globe via its Corporate Finance International associates. PMCF is an affiliate of Plante Moran one of the nation's largest professional services firms. For more information, visit www.pmcf.com .
John Hart
Managing Director, Plastics & Packaging Group
248.223.3468
john.hart@pmcf.com
View original content with multimedia: http://www.prnewswire.com/news-releases/pmcf-announces-sale-of-plymouth-packaging-to-westrock-company-nyse-wrk-300588610.html
SOURCE P&M Corporate Finance | SOUTHFIELD Mich., Jan.25,2018 /PRNewswire/ -- P&M Corporate Finance (PMCF announce sale Plymouth Packaging to WestRock Company Battle Creek, Michigan Plymouth innovator corrugated packaging on-demand packaging system uses corrugated fanfold materials proprietary box making machinery. Plymouth's on Demand customers make right-sized corrugated boxes facilities package reducing packaging shipping costs traditional. Plymouth installed packaging systems at markets including e-commerce building products furniture industrial .
Plymouth serves Box on Demand customers North America from three corrugated fanfold manufacturing facilities distribution centers with corrugated technology custom proprietary modifications. Plymouth traditional corrugated box manufacturing capabilities operates niche medium sheet plant Southeast Michigan market. Plymouth's ownership in Panotec Box on Demand machinery Italy investment in Alliance Sheets .
Plymouth founded 1991 by Paul Magnell owned by Magnell family Greg Magnell president leadership WestRock. WestRock strong cultural fit provides access to broader geographic footprint additional resources business customers."
selected John Hart PMCF's Plastics& Packaging Group Plymouth's M&A advisor/ investment banker. happy with hire PMCF M&A advisor. John team experts in packaging industry position company to buyers. senior involvement successful transaction. recommend PMCF packaging companies transaction."
PMCF
award middle market investment bank merger acquisition advisory private public equity companies. services sale advisory acquisition advisory capital raising strategic advisory. industry teams plastics packaging medical technology industrials business services industries offices Chicago Detroit globe International. affiliate Plante Moran firms. www.pmcf.com .
John Hart
Managing Director, Plastics& Packaging Group
john.hart@pmcf.com
original content multimedia http://www.prnewswire.com/news-releases/pmcf-announces-sale-of-plymouth-packaging-to-westrock-company-nyse-wrk-300588610.html SOURCE P&M Corporate Finance | 0.7 |
To build good credit and stay out of debt , you should always aim to pay off your credit card bill in full every month.
If you want to be really on top of your game, it might seem logical to pay off your balance more often, so your card is never in the red. But hold off. It's actually possible to pay off your credit card bill too many times per month. Once is enough. In fact, once, most of the time, is ideal.
"If you're paying with every single transaction, it may not even show that you're even using credit and it's reporting to the credit bureau as a zero balance all the time," Greg McBride, chief financial analyst at Bankrate.com , tells CNBC Make It .
Instead of proving that you can responsibly pay back what you owe, frequently clearing your balance makes it look like you're not using credit at all.
show chapters Mark Cuban shares his No. 1 negotiation strategy 8:29 AM ET Wed, 25 Oct 2017 | 01:05 "To build credit, what you want to do is have a demonstrated track record of using credit responsibly, and over time different forms of credit," McBride says. "With regard to revolving lines like credit cards, you want to demonstrate the ability to put expenses on the card and then to pay that off."
To demonstrate that ability, it's smarter to focus on not letting your balance exceed more than 10 percent of your credit limit at any given time.
"The 10 percent threshold is the point at which it's beneficial to your credit score," McBride says. "Between 10 and 30 percent it's neutral, and it's only when your balance is above 30 percent of your credit line that it actually works against your score."
show chapters Why millennials are making a huge mistake by not using credit cards more often 11:49 AM ET Mon, 24 July 2017 | 00:52 That's because part of your credit score is comprised of your credit utilization ratio, which which is calculated by dividing your balance by your credit limit. If you have a card limit of $10,000, you never want your balance to exceed $3,000. Ideally, you'll keep it under $1,000.
Of course, using your card for larger purchases, such as furniture or a new phone, could cause you to exceed the optimal 10 to 30 percent of your credit limit on a given card. "That's when you might want to make an additional payment, just so at whatever point your balance gets reported to the credit bureau, it's less than 10 percent of your credit limit," McBride says.
If you're responsible about paying off your bill every month on one card, consider opening a second, third or fourth . Owning additional cards could help boost your credit score by increasing your amount of available credit. Plus, credit cards offer a host of perks, such as airline miles, hotel points and cash back, which can pay off, big time, when used strategically.
Don't miss: Here's how many credit cards you should have
Like this story? Like CNBC Make It on Facebook !
show chapters A couple who paid off $127,000 of debt shares their No. 1 money saving tip 12:38 PM ET Wed, 23 Aug 2017 | 01:08 | build credit pay credit card bill month.
pay pay transaction zero balance Greg McBride chief financial analyst Bankrate.com .
balance not credit .
Mark Cuban No.1 negotiation strategy 8:29 AM track record expenses pay balance exceed 10 percent credit limit .
10 percent threshold beneficial credit 10 30 above 30 percent score."
millennials not using credit cards 11:49 AM ET 24 2017 credit score credit utilization ratio balance by credit limit limit $10,000 balance exceed $3,000 keep under $1,000.
card larger purchases furniture phone could exceed 10 to 30 percent credit limit. additional payment less than 10 percent McBride .
responsible card consider second third fourth. additional cards boost credit score credit. credit cards offer perks airline miles hotel points cash back .
credit cards CNBC Facebook couple paid $127,000 debt No.1 money saving tip 12:38 PM ET Wed,23 Aug 2017| 01:08 | 0.9 |
The dollar sank on Tuesday to its lowest in more than three months, weighed down on the first trading day of 2018 by expectations of a slower pace of interest rate increases by the Federal Reserve amid a tepid U.S. inflation picture.
The dollar's decline continued the momentum of 2017, the greenback's weakest annual performance in 14 years.
"Investors remain skeptical about the Fed's outlook for three additional interest rate increases this year, especially given the extremely benign inflation backdrop in the U.S.," said Omer Esiner, chief market analyst, at Commonwealth Foreign Exchange in Washington.
show chapters How to play a weak dollar in 2018: Pro 5:09 PM ET Thu, 28 Dec 2017 | 01:12 The dollar's upside was also capped as many of the world's major central banks such as the Bank of England and European Central Bank are moving toward normalizing their own monetary policies.
The dollar index hit a 3-1/2-month trough of 91.751 and was last down 0.29 percent at 91.85. For 2017, the dollar index slid more than 9.8 percent, its weakest year since 2003.
"Any further drop below 91.00 would confirm a continuation of the dollar's bearish trend from the beginning of 2017, with the next major downside target around the 90.00 psychological support level," said James Chen, head of research at Forex.com in Bedminster, New Jersey.
The euro, meanwhile, has been on a tear especially since the second half of last year, on optimism over a brightening economic picture in the euro zone. In 2017, the single currency posted its strongest year against the dollar since 2003 as European economies strengthened and expectations grew that the ECB will wind down monetary stimulus.
The euro rose to start the new year, climbing to a nearly four-month high of $1.2082. It was last up 0.39 percent at $1.2055.
Euro zone manufacturers ended 2017 by ramping up activity at the fastest pace in more than two decades, a survey showed on Tuesday, and rising demand suggests they will start the new year on a high.
Also boosting the euro was a comment from an ECB official over the weekend. The ECB's Benoit Coeure said on the weekend he saw a "reasonable chance" the bank's bond purchases would not be extended beyond September.
Against the yen , the dollar fell 0.35 percent to 112.25. The yen continues to benefit from last week's release of the Bank of Japan 's minutes of its meeting.
The minutes showed some members are considering tightening monetary policy if the economy continues to improve next year, which would be a significant shift in strategy for a central bank thought to be the last to exit easier monetary policies. | dollar sank to lowest three months 2018 expectations interest rate increases Federal Reserve U.S. inflation picture.
decline 2017 greenback's weakest annual performance 14 years.
"Investors skeptical Fed's outlook three additional interest rate increases year benign inflation U.S.," Omer Esiner chief market analyst Commonwealth Foreign Exchange .
weak dollar 2018: Pro 5:09 PM ET Thu 28 Dec 2017| 01:12 dollar upside 's major central banks Bank of England European Central Bank normalizing monetary policies.
dollar index hit 3-month trough 91.751 last down 0.29 percent at 91.85.2017 slid 9.8 percent, weakest year since 2003.
drop below 91.00 confirm continuation dollar's bearish trend 2017 next major downside target around 90.00 support James Chen research Forex.com Bedminster .
euro tear since economic picture euro zone 2017 strongest year dollar since 2003 European economies strengthened expectations ECB wind down monetary stimulus.
euro rose -month high $1.2082 last up 0.39 percent at $1.2055.
Euro zone manufacturers ended 2017 activity fastest pace rising demand suggests start new year euro comment ECB official. ECB's Benoit Coeure chance bank's bond purchases extended beyond September.
Against yen dollar fell 0.35 percent to 112.25. yen benefit from Bank of Japan 's minutes .
tightening monetary policy if economy improve next year significant shift strategy for central bank exit easier monetary policies. | 0.8 |
Republican Senator Cory Gardner of Colorado promised on Thursday to put holds on all nominees for Attorney General Jeff Sessions ' Justice Department, amid a furor over a policy change that aims to reverse the federal government's permissive stance toward states that legalize marijuana.
On the Senate floor, a visibly agitated Gardner decried a "complete reversal" of the position he said Sessions and President Donald Trump had taken with respect to enforcing federal laws that outlaw marijuana use.
"Prior to his confirmation, then-Senator Sessions told me there would be no plans to reverse the Cole memorandum," Gardner said. He referred to a 2013 memo penned by former Deputy Attorney General James Cole essentially assuring that the Obama administration would not stop states from legalizing marijuana.
"One tweet later, one policy later, a complete reversal of what many of us on the Hill were told before the confirmation, what we had continued to believe the last year," Gardner said. "And without any notification, conversation, or dialogue with Congress [the policy was] completely reversed."
Gardner said he will be putting holds on every nomination to the Justice Department until Sessions "lives up to the commitment that he made to me in my pre-confirmation meeting with him."
A Senate hold enables a single senator to block a nomination, a motion or even a piece of legislation from being seen in the Senate.
To put holds on all nominations is especially consequential for the Justice Department, which reportedly is still missing Senate-confirmed leaders in at least six divisions.
On Thursday, Sessions issued a directive rescinding Cole's policy . The former Alabama senator directed federal prosecutors "to use previously established prosecutorial principles that provide them all the necessary tools to disrupt criminal organizations, tackle the growing drug crisis, and thwart violent crime across our country."
The Department of Justice later said in a public statement that Sessions' decision represented "a return to the rule of law."
Trump, Gardner noted on the Senate floor, had previously stated that as a presidential candidate, he wouldn't use federal authority to shut down sales of recreational marijuana.
"I think it's up to the states," Trump said in a 2016 interview. "I'm a states person. I think it should be up to the states. Absolutely."
Brandon Rittiman tweet: Had to ask @ realDonaldTrump about # marijuana in light of his alliance with @ GovChristie :# 9NEWS # COpolitics
"I would like to know from the attorney general what has changed," Gardner said on Thursday. "What has changed President Trump's mind that the Cole memorandum would be reversed and rescinded?"
Cory Gardner tweet 1: .@realdonaldtrump had it right. This must be left up to the states.
Cory Gardner tweet 2: I am prepared to take all steps necessary, including holding DOJ nominees, until the Attorney General lives up to the commitment he made to me prior to his confirmation.
Marijuana has remained federally prohibited for decades, and Colorado is one of the pioneers of legalization at the state level. In 2016, the state topped $1 billion in legal weed revenues, allowing the government to reap a $198.5 million windfall in marijuana taxes.
In 2012, Colorado became the first state in the nation to legalize marijuana for recreational use. Since then, marijuana sales have created hundreds of millions in revenue for the state every year.
The Department of Justice did not respond to a request for comment on Gardner's remarks in time for publication of this story. | Republican Senator Cory Gardner of Colorado promised Thursday to put holds on all nominees for Attorney General Jeff Sessions' Justice Department, amid furor over policy change aims to reverse federal government's permissive stance toward states that legalize marijuana.
On Senate floor, agitated Gardner decried a "complete reversal" of position Sessions and President Donald Trump with respect to enforcing federal laws that outlaw marijuana use.
"Prior to his confirmation, then-Senator Sessions told me no plans to reverse the Cole memorandum," Gardner said. referred to a 2013 memo by former Deputy Attorney General James Cole assuring Obama administration would not stop states from legalizing marijuana.
"One tweet later, one policy later, a complete reversal of what many Hill told before confirmation, what we had continued to believe the last year," Gardner said. "And without any notification, conversation, or dialogue with Congress [the policy was completely reversed."
Gardner said he will be putting holds on every nomination to Justice Department until Sessions "lives up to commitment he made to me in my pre-confirmation meeting with him."
Senate hold enables a single senator to block a nomination, motion or piece legislation from being seen in the Senate.
To put holds on all nominations is especially consequential for Justice Department, still missing Senate-confirmed leaders in at least six divisions.
On Thursday, Sessions issued a directive rescinding Cole's policy. former Alabama senator directed federal prosecutors "to use prosecutorial principles provide tools to disrupt criminal organizations, tackle growing drug crisis, and thwart violent crime country."
Department of Justice said in public statement Sessions' decision represented "a return to the rule of law."
Trump, Gardner noted Senate floor, had previously stated as a presidential candidate, he wouldn't use federal authority to shut down sales of recreational marijuana.
"I think it's up to the states," Trump said in 2016 interview. "I'm a states person. it should be up to the states. Absolutely."
Brandon Rittiman tweet: Had to ask@ realDonaldTrump about# marijuana in light of his alliance with@ GovChristie:# 9NEWS# COpolitics
"I would like to know from attorney general what has changed," Gardner said Thursday. "What has changed President Trump's mind Cole memorandum reversed and rescinded?"
Cory Gardner tweet 1:.@realdonaldtrump had it right. must be left up to states.
Cory Gardner tweet 2: am prepared to take all steps necessary, including holding DOJ nominees, until Attorney General lives up to commitment made to me prior to his confirmation.
Marijuana remained federally prohibited for decades, Colorado is pioneers of legalization at state level. In 2016, state topped $1 billion in legal weed revenues, allowing government to reap $198.5 million windfall in marijuana taxes.
In 2012, Colorado became first state nation to legalize marijuana for recreational use. Since then, marijuana sales created hundreds of millions in revenue for state every year.
Department of Justice did not respond to request for comment on Gardner's remarks in time for publication of this story. | 0.1 |
The Nevada Gaming Control Board has opened an investigation into Steve Wynn , CEO of Wynn Resorts and former Republican National Committee finance chief, it said Tuesday, in the wake of a Washington Post report alleging decades of sexual misconduct.
"After completing our review, the Nevada Gaming Control Board is conducting an investigation with regard to the allegations of sexual misconduct involving Steve Wynn. The Nevada Gaming Control Board will conduct its investigation in a thorough and judicious manner," the board's chair, Becky Harris, said in a statement.
The allegations, which were first reported Friday, detailed accounts from dozens of current and former employees that would amount to "a decades-long pattern of sexual misconduct," as well as a $7.5 million financial settlement paid to a manicurist who alleged she was pressured into having sex with Wynn.
Wynn has denied the allegations.
Shares of Wynn Resorts have plunged since the report was published Friday, as attention has turned to how the company's board leadership will manage what could amount to a civil liability.
Wynn Resorts on Friday said its board of directors had formed a committee to look into the allegations , although Wynn will continue to act as CEO for the duration of the investigation.
RNC Chair Ronna Romney-McDaniel confirmed that Wynn resigned on Saturday from his post as the RNC's finance chief.
Chicago Cubs co-owner and Republican donor Todd Ricketts is expected to succeed Wynn as RNC finance chair.
This story is developing. Please check back for updates. | Nevada Gaming Control Board opened investigation into Steve Wynn, CEO Wynn Resorts former Republican National Committee finance chief, Tuesday wake Washington Post report alleging decades sexual misconduct.
"After review, Nevada Control Board conducting investigation regard allegations of sexual misconduct involving Steve Wynn. Board will conduct investigation thorough judicious manner," board's chair Becky Harris, said in statement.
allegations reported Friday, detailed accounts from current former employees "a decades-long pattern of sexual misconduct," $7.5 million financial settlement to manicurist alleged pressured sex with Wynn.
Wynn denied allegations.
Shares Wynn Resorts plunged since report published Friday, attention turned to how company's board leadership manage civil liability.
Wynn Resorts Friday said board of directors formed committee to look into allegations, Wynn will continue to act as CEO for duration investigation.
RNC Chair Ronna Romney-McDaniel confirmed Wynn resigned Saturday from RNC's finance chief.
Chicago Cubs co-owner Republican donor Todd Ricketts expected to succeed Wynn as RNC finance chair.
story developing. check back for updates. | 0.2 |
Taxes Putin says 'shrewd and mature' Kim Jong Un has 'won this round' against the West Russian President Vladimir Putin says North Korea's Kim Jong Un got the best of the West over his nuclear and missile programs. Russia has voted for international sanctions against North Korea at the U.N. over its nuclear program. Kim "is already a shrewd and mature politician," Putin says. Published 1 Hour Ago SHARES STR | AFP | Getty Images North Korean leader Kim Jong-Un at the test-fire of the intercontinental ballistic missile Hwasong-14 at an undisclosed location.
Russian President Vladimir Putin said on Thursday North Korean leader Kim Jong Un was "shrewd and mature" and had won the latest standoff with the West over his nuclear and missile programs.
"I think that Mr. Kim Jong Un has obviously won this round. He has completed his strategic task: he has a nuclear weapon, he has missiles of global reach, up to 13,000 km, which can reach almost any point of the globe," Putin told Russian journalists at a televised meeting.
Russia has voted at the United Nations in favor of international sanctions against North Korea over its nuclear program, while urging the West to show restraint and calling for talks over the issue.
Putin reiterated that dialogue with North Korea was warranted, and said Kim now wanted to calm the situation.
"He is already a shrewd and mature politician," Putin said.
North Korea and South Korea held talks on Tuesday after a prolonged period of tension on the Korean peninsula over the North's missile and nuclear programs. | Putin says 'shrewd mature' Kim Jong Un 'won round' West Russian President Vladimir Putin says North Korea's Kim Jong Un got best West over nuclear missile programs. Russia voted for international sanctions North Korea U.N. over nuclear program. Kim "is shrewd mature politician," Putin says. Published 1 Hour Ago SHARES STR| AFP| Getty Images North Korean leader Kim Jong-Un at test-fire intercontinental ballistic missile Hwasong-14 undisclosed location.
Russian President Vladimir Putin said Thursday North Korean leader Kim Jong Un "shrewd mature" won standoff West over nuclear missile programs.
Kim Jong Un won round. completed strategic task: has nuclear weapon missiles global reach up to 13,000 km can reach any point globe," Putin told Russian journalists televised meeting.
Russia voted United Nations favor international sanctions against North Korea nuclear program urging West show restraint calling for talks issue.
Putin reiterated dialogue with North Korea warranted, Kim wanted to calm situation.
shrewd mature politician," Putin.
North Korea South Korea held talks Tuesday after tension Korean peninsula over North's missile nuclear programs. | 0.4 |
MIAMI, January 30, 2018 /PRNewswire/ --
Next Group Holdings, Inc. (OTCQB: NXGH) today announced that the Company has appointed Mr. Adiv Baruch to the position of Chief Strategy Officer, effective immediately. With more than 30 years' executive experience in high-tech, Baruch has served on NXGH's Board of Directors since 2016.
"Adiv's experience as an international technology innovator and practitioner, combined with his vast leadership, investment and management experience, makes him an invaluable asset as this Company enters a new chapter of growth, innovation and profitability," said Arik Maimon, Next Group Holdings CEO. "Adiv's wise counsel helped us tremendously in the 4 th Q 2017 completion of two large acquisitions - Limecom Inc. and SDI Next Distribution - and, he is a key proponent of the company's move into the Cryptocurrency marketplace via our recently announced Letter of Intent with Arbitrade Exchange Inc. ( World's First Cryptocurrency Gift Card to Launch ), that can change daily commerce for millions of unbanked/underbanked consumers."
"I have been working very intensively with the founders of NXGH over the last couple of years, and have come to realize this great team's vision for the fast-changing banking and financial services industry," said Baruch. "I'm honored to be part of this team, and to bring my global experience in the finance and technology fields to bear on what NXGH is accomplishing in the fin-tech space, and I am eager to help the Company meet its potential as an innovative leader in this industry."
Currently, Mr. Baruch serves as Chairman of Jerusalem Technology Investments Ltd. and Maayan Ventures, a platform for investments in innovative Israeli technology companies. He also serves as the Chairman of Covertix, whose patented technology delivers real-time, non-invasive control, protection, and tracking of confidential files, and as the Chairman of the Institute of Technology and Innovation, a leader in educating technology professionals and innovative entrepreneurs. In addition, he was recently named Chairman of the Israel Export & International Cooperation Institute.
Previously, Mr. Baruch served as Chairman of the public committee of the Hi-Tech and Telecom Division at the Israel Export and International Cooperation Institute (IEICI), and he was a member of the audit committee of the board of IEICI. He was one of the founders of Ness Technologies, which he helped grow Israel's first IT service company into a Global IT services firm.
Mr. Baruch served as President for Nyotron, a global cyber technology company, and was a director of the Bank of Jerusalem. He currently serves, or has served, on the boards of a variety of charitable organizations including Make-A-Wish Foundation, and he is currently the active Chairman of Or-Lachayal. Also, he has been an active member of the Young Presidents' organization (YPO). He remains involved with a number of companies traded on the U.S., Tel Aviv and Hong Kong exchanges.
Baruch holds an Engineering degree from The Technion, the leading engineering institute in Israel.
About Next Group Holdings, Inc.
NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions, including wireless MVNO, to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800)611-3622. NXGH's web address is www.nextgroupholdings.com .
Contact :
for Next Group Holdings, Inc.:
Paul Gendreau
PGPR
paul@pgprmedia.com
+1-678-807-7945
SOURCE Next Group Holdings, Inc. | MIAMI, January 30,2018 /PRNewswire/ --
Next Group Holdings Inc. (OTCQB NXGH announced appointed Mr Adiv Baruch Chief Strategy Officer,.30 years' executive experience in high-tech, Baruch served on NXGH's Board of Directors since 2016.
"Adiv's experience as international technology innovator practitioner vast leadership investment management experience makes invaluable asset Company enters new chapter growth innovation profitability," Arik Maimon, Next Group Holdings CEO. "Adiv's wise counsel helped us in 4 th Q 2017 completion two acquisitions- Limecom Inc. and SDI Next Distribution- key proponent of company's move into Cryptocurrency marketplace via Letter of Intent with Arbitrade Exchange Inc.( World's First Cryptocurrency Gift Card to Launch ), change daily commerce for millions unbanked/underbanked consumers."
working intensively with founders NXGH realize team's vision for fast-changing banking financial services industry," Baruch. honored to be part of team bring global experience in finance technology fields NXGH fin-tech space, eager to help Company meet potential as innovative leader industry."
Currently Baruch Chairman of Jerusalem Technology Investments Ltd. Maayan Ventures, platform for investments innovative Israeli technology companies. Chairman of Covertix, patented technology delivers real-time non-invasive control protection tracking of confidential files Chairman of Institute of Technology and Innovation, leader in educating technology professionals innovative entrepreneurs. recently named Chairman of Israel Export& International Cooperation Institute.
Previously Baruch served Chairman public committee Hi-Tech and Telecom Division at Israel Export and International Cooperation Institute (IEICI), member of audit committee of board IEICI. founders of Ness Technologies helped grow Israel's first IT service company Global IT services firm.
Baruch President for Nyotron global cyber technology company director of Bank of Jerusalem. currently serves on boards charitable organizations including Make-A-Wish Foundation, active Chairman of Or-Lachayal. active member of Young Presidents' organization (YPO). remains involved with companies traded on U.S., Tel Aviv Hong Kong exchanges.
Baruch holds Engineering degree from The Technion leading engineering institute in Israel.
Next Group Holdings, Inc.
NXGH corporation headquartered in Miami, Florida engages using proprietary technology licensed technology provide innovative mobile banking mobility telecommunications solutions including wireless MVNO, to underserved unbanked emerging markets. NXGH's principal executive offices at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, telephone number is (800)611-3622. NXGH's web address is www.nextgroupholdings.com .
Contact :
Next Group Holdings Inc.:
Paul Gendreau
PGPR
paul@pgprmedia.com
+1-678-807-7945
SOURCE Next Group Holdings, Inc. | 0.3 |
NEW YORK, Jan. 29, 2018 /PRNewswire/ -- Sierra Capital Investments, L.P. ("Sierra"), one of the largest shareholders of Safeguard Scientifics, Inc. ("Safeguard," or the "Company")(NYSE: SFE), with ownership of approximately 5.1% of the Company's outstanding shares, it has delivered a letter to Robert J. Rosenthal, Chairman of the Board of Directors of Safeguard.
The full text of Sierra's letter to the Chairman of Safeguard's Board of Directors can be viewed at the following link:
https://mma.prnewswire.com/media/634634/Letter_to_SFE_Chairman_1_29_18.pdf
About Sierra Capital Investments, L.P.
Sierra Capital Investments, L.P. is an entity owned by Maplewood Partners, LLC ("Maplewood") and Horton Capital Partners, LLC ("Horton"). Maplewood is an alternative asset management firm that employs an opportunistic, value driven approach that capitalizes on complex, misunderstood, or off-the-run opportunities in both public and private equities. Horton is an investment firm making concentrated investments in undervalued and under-appreciated small and micro-capitalization public companies.
Investor contacts:
Darren C. Wallis
(610) 816-6660
www.maplewoodllc.com
Joseph M. Manko, Jr.
(215) 399-5402
www.thehortonfund.com
View original content with multimedia: http://www.prnewswire.com/news-releases/sierra-capital-delivers-letter-to-safeguard-chairman-300589779.html
SOURCE Sierra Capital Investments, L.P. | NEW YORK, Jan.29,2018 /PRNewswire Sierra Capital Investments, L.P. largest shareholders Safeguard Scientifics, Inc. "Company")(NYSE SFE), ownership 5.1% Company's shares delivered letter to Robert J. Rosenthal, Chairman Board of Directors Safeguard.
full text Sierra's letter viewed link:
https://mma.prnewswire.com/media/634634/Letter_to_SFE_Chairman_1_29_18.pdf Sierra Capital Investments, L.P.
Sierra .P owned by Maplewood Partners, LLC ("Maplewood") Horton Capital Partners LLC ("Horton"). Maplewood alternative asset management firm opportunistic value driven approach capitalizes on complex off-the-run opportunities public private equities. Horton investment firm in undervalued under-appreciated small micro-capitalization public companies.
Investor contacts Darren C. Wallis
(610) 816-6660
www.maplewoodllc.com
Joseph M. Manko, Jr.
(215) 399-5402
www.thehortonfund.com
View original content multimedia: http://www.prnewswire.com/news-releases/sierra-capital-delivers-letter-to-safeguard-chairman-300589779.html SOURCE Sierra Capital Investments, L.P. | 0.7 |
HAMBURG (Reuters) - The river Rhine in south Germany remained closed to shipping on Wednesday after a sharp rise in water levels, a German inland navigation authority official said.
About 80 km of the river is closed to shipping from around Maxau near Karlsruhe to a point south of Mannheim, preventing sailings to and from Switzerland, he said.
Northern and central sections of the river are operating normally.
Water levels are starting to fall again in some areas and a reopening to shipping later this week or at the weekend could be possible, he said.
Repeated rain and warm weather which has melted snow have raised water levels and stopped shipping at the beginning of this week. High water means vessels do not have enough space to sail under bridges.
The Rhine is an important shipping route for commodities including oil products such as heating oil, grains, animal feed and coal. It is an important route for Swiss commodity imports. The river was also closed due to high water in early January.
Reporting by Michael Hogan; editing by Jason Neely
| HAMBURG (Reuters river Rhine south Germany closed shipping Wednesday after rise water levels, German official .
80 km river closed shipping from Maxau Karlsruhe to south Mannheim preventing sailings to Switzerland, .
Northern central sections river operating normally.
Water levels fall reopening shipping later this week or weekend could possible .
Repeated rain warm weather melted snow raised water levels stopped shipping week. High water means vessels space sail under bridges.
Rhine important shipping route for commodities oil products grains animal feed coal. Swiss commodity imports. river closed due to high water early January.
Reporting by Michael Hogan; editing Jason Neely
| 0.5 |
NEW YORK, Jan. 3, 2018 /PRNewswire/ -- KPMG LLP has agreed to acquire the Identity and Access Management business of Silicon Valley-based Cyberinc, which provides cyber security solutions globally. Cyberinc, the largest independent identity and access management (IAM) technology provider in the world, will enhance KPMG's existing capabilities as a leader in information security consulting services* and expand the firm's ability to provide clients with emerging and more agile IAM solutions. The transaction also bolsters KPMG's talent and resources in the rapidly growing area of digital consumer identity and privileged user management, which are evolving security-focused capabilities to enhance important elements of customer-engagement.
"Cyber security remains a top risk to organizations as threats grow in scale and cyber criminals develop new ways to access protected information," said Lynne Doughtie, U.S. Chairman and CEO of KPMG LLP. "KPMG's identity and access management solutions team can assist clients, across all industries, protect their information and enable their digital strategies and growth plans."
Cyberinc's IAM business is a 190-person global team with significant presence in the U.S., India, Australia, and the U.K., and extensive experience providing advisory, strategy, implementation services, and managed services for organizations that need to transform their enterprise or consumer identity capabilities.
"Over the last decade, Cyberinc's IAM business has risen to industry leadership position on the strength of some of the largest IAM deployments globally, investments in IP and an array of premium partnerships. I am very pleased that Cyberinc's truly world class team will continue this journey with KPMG," said Samir Shah, CEO, Cyberinc. "Cyber threats continue to accelerate and remain a top business risk. This transaction will allow us to sharply focus on
Isla - our industry leading Malware Isolation Platform."
KPMG's strong position with existing information security alliance partners Oracle and Sailpoint, along with KPMG's recently announced alliance with Ping Identity , will be further enhanced by the transaction with Cyberinc to better enable information protection for large enterprises while pursuing new digital interactions and business transformations.
"As organizations innovate and transform their back, middle and front offices, identity and access management solutions that effectively bridge the gap between risk mitigation and customer experience are key to driving sustainable growth," said Tony Buffomante, U.S. Leader of KPMG's Cyber Security Services practice. "The addition of the Cyberinc team and capabilities is yet another example of how KPMG is investing in cyber security and helping clients succeed on their digital journey."
Cyberinc is a subsidiary of Aurionpro Solutions Limited - a global technology product and solution provider, headquartered in Mumbai, India and San Ramon, California. The Cyberinc transaction is KPMG's second acquisition in this area, following the October 2014 acquisition of certain assets of Qubera Solutions, a privately-held Redwood City, C.A. - based cyber security firm that provides IAM services.
About KPMG
KPMG LLP, the audit, tax and advisory firm ( www.kpmg.com/us ), is the independent U.S. member firm of KPMG International Cooperative ("KPMG International"). We operate in 154 countries and with more than 197,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative, a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International has been named a Leader in the Forrester Research Inc. report, The Forrester Wave TM , Information Security Consulting Services, Q3 2017.
About Cyberinc
Cyberinc offerings include secure, scalable, high performance security products that protect from cyber-attacks, and solutions that help enterprises transition to next generation access management systems. Our flagship product offering, the Isla Malware Isolation platform can help deliver complete freedom from web based malware attacks. Combining our best in class products and services enables clients to effectively address their toughest cyber security challenges. For more information, please visit www.cyberinc.com
Contacts:
Christine Curtin / Michael Rudnick
KPMG LLP
201-307-8663 / 201-307-7398
ccurtin@kpmg.com / mrudnick@kpmg.com
Balaji Desikamani
Cyberinc
+1 925-309-7083
Balaji.desikamani@cyberinc.com
*according to The Forrester Wave TM , Information Security Consulting Services, Q3 2017
View original content with multimedia: http://www.prnewswire.com/news-releases/kpmg-to-acquire-global-identity-and-access-management-business-of-cyberinc-300576806.html
SOURCE KPMG LLP | NEW YORK, Jan.3,2018 /PRNewswire KPMG LLP acquire Identity Access Management business Silicon Valley Cyberinc provides cyber security solutions globally. Cyberinc largest independent identity access management (IAM technology provider enhance KPMG's capabilities information security expand provide agile IAM solutions. transaction bolsters KPMG's talent resources in digital consumer identity privileged user management security capabilities enhance customer-engagement.
"Cyber security top risk organizations threats grow cyber criminals develop access information," Lynne Doughtie U.S. Chairman CEO KPMG LLP. "KPMG's identity access management solutions team can assist clients protect information enable digital strategies growth plans."
Cyberinc's IAM business 190-person global team presence U.S., India Australia U.K., providing advisory strategy implementation services managed services for organizations transform enterprise consumer identity capabilities.
Cyberinc's IAM business risen to industry leadership position largest IAM deployments investments IP premium partnerships. Cyberinc's world team continue with KPMG," Samir Shah, CEO Cyberinc. "Cyber threats accelerate top business risk. transaction focus on
- industry Malware Isolation Platform."
KPMG's position with Oracle Sailpoint alliance with Ping Identity enhanced by transaction Cyberinc information protection for large enterprises digital interactions business transformations.
organizations innovate transform identity access management solutions bridge gap between risk mitigation customer experience key to sustainable growth," Tony Buffomante, U.S. Leader KPMG's Cyber Security Services. addition Cyberinc team capabilities KPMG investing in cyber security helping clients succeed digital journey."
Cyberinc subsidiary of Aurionpro Solutions Limited global technology provider headquartered Mumbai India San Ramon, California. Cyberinc transaction KPMG's second acquisition following October 2014 acquisition Qubera Solutions Redwood City cyber security firm IAM services.
KPMG
KPMG LLP audit tax advisory firm .kpmg independent U.S. member firm of KPMG International Cooperative operate in 154 countries 197,000 people working firms world. independent affiliated with KPMG International Cooperative Swiss. Each KPMG firm legally distinct. KPMG International Leader in Forrester Research report Forrester Wave TM Information Security Consulting Services Q3 2017.
Cyberinc
Cyberinc offerings include secure scalable high performance security products protect cyber-attacks solutions enterprises transition to next generation access management systems. Isla Malware Isolation platform freedom from web malware attacks. clients address cyber security challenges. visit www.cyberinc.com
Contacts Christine Curtin/ Michael Rudnick
KPMG LLP
201-307-8663/ 201-307-7398
ccurtin@kpmg.com/ mrudnick@kpmg.com
Balaji Desikamani
Cyberinc
+1 925-309-7083
Balaji.desikamani@cyberinc.com
Forrester Wave TM Information Consulting Services Q3 2017
View original content multimedia http://www.prnewswire.com/news-releases/kpmg-to-acquire-global-identity-and-access-management-business-of-cyberinc-300576806.html SOURCE KPMG LLP | 0.6 |
SUNNYVALE, Calif., Jan. 19, 2018 (GLOBE NEWSWIRE) -- GSI Technology, Inc. (NASDAQ:GSIT) will release financial results for its third quarter fiscal 2018 ended December 31, 2017 at the market close on Thursday January 25, 2018. Management will also conduct a conference call to review the Company's financial results.
Any investor or interested individual can listen to the teleconference, which is scheduled at 1:30 p.m. Pacific (4:30 p.m. Eastern) on January 25, 2018. To participate in the teleconference, please call toll-free 866-676-1141 approximately 10 minutes prior to the above start time and provide Conference ID 3698266. You may also listen to the teleconference live via the Internet at www.gsitechnology.com . For those unable to attend, this web site will host an archive of the call.
About GSI Technology
Founded in 1995, GSI Technology, Inc. is a provider of high performance semiconductor memory solutions to networking, industrial, medical, aerospace and military customers. The company is headquartered in Sunnyvale, California and has sales offices in the Americas, Europe and Asia. For more information, please visit www.gsitechnology.com .
CONTACT : GSI Technology, Inc. Hayden IR Mr. Douglas M. Schirle, CFO Mr. Dave Fore or Mr. Brett Maas 408-331-9802 206-395-2711
Source:GSI Technology, Inc. | SUNNYVALE Calif., Jan.19,2018 (GLOBE NEWSWIRE GSI Technology Inc. :GSIT release financial results third quarter 2018 December 31,2017 close January 25,2018. Management conference review financial results.
investor listen teleconference 1:30 p.m. Pacific (4:30 p.m. Eastern January 25 2018. call toll-free 866-676-1141 10 minutes provide Conference ID 3698266. listen Internet www.gsitechnology.com. host archive .
GSI Technology
Founded 1995 GSI Technology provider high performance semiconductor memory solutions networking industrial medical aerospace military customers Sunnyvale California sales Americas Europe Asia. visit www.gsitechnology.com .
CONTACT GSI Technology Inc Hayden IR Douglas M. Schirle, CFO Dave Fore Brett Maas 408-331-9802 206-395-2711
Source:GSI Technology, Inc. | 0.8 |
* Rail group to offer up to 40 pct of shares in IPO
* Expects to list by Feb, but election could delay
* No new shares will be offered in Milan listing
* Italo plans to expand domestically and in Europe
ROME, Jan 23 (Reuters) - When former Ferrari boss Luca Cordero di Montezemolo called up fellow businessman Diego della Valle in 2006 and suggested they create a company to run high-speed trains, his friend asked him what he had been drinking the night before.
Twelve years on, the two Italian entrepreneurs and their co-investors, who put 1 billion euros ($1.2 billion) of their own money in a risky start-up, are preparing to pocket some gains in an initial public offering (IPO) on the Milan stock exchange.
"We are selling 40 percent to recover part of a huge investment, but we remain with 60 percent to have a strong presence in the future," Montezemolo, Italo chairman, told Reuters in an interview at the company's headquarters in Rome.
It took Italo six years to put its first train on the tracks and the company had to overcome a tangle of regulatory hurdles, not least fierce opposition from state-owned rail giant Ferrovie dello Stato, with some of their battles ending up in court.
The company risked going bust and had to launch a capital increase to stay afloat before breaking even in 2016.
But all that seems forgotten now: nearly 13 million passengers travelled on Italo's sleek red trains in 2017, while revenue rose by a quarter and core earnings jumped 64 percent last year.
"We had to put money on the table to buy trains, hire people, spend on training way before selling our first ticket ... looking back, we made a miracle," he said.
Italo expects to complete the share offering by February, subject to market conditions and regulatory approval.
Potential volatility around a national election in Italy on March 4 could delay the flotation by a few weeks or months, but will not derail the IPO plans, said Montezemolo.
No new shares will be offered in the IPO. Both Montezemolo and Chief Executive Flavio Cattaneo, who plans to keep his own 5 percent stake in the company, believe Italo generates enough free cash flow to fund growth plans.
Montezemolo said Italo wanted to be ready for further expansion at home, and also to export its business model abroad once new EU rules come into force meant to open up passenger rail networks to competition and create a single market from 2020.
Italo recently ordered 17 new EVO trains from French engineering group Alstom without issuing any new debt, raising its fleet to 42 and preparing for new routes, like the popular Turin-Venice connection that will be launched in May.
Cattaneo said Italo, a business with a core profit margin of around 35 percent, should be seen as an infrastructure firm with a predictable cost base.
Neither executive would comment on a possible valuation for the company. But a share buy-back mandate approved last week implied a valuation of around 2 billion euros.
A 500 million-euro bond issue last year attracted demand four times its size. Italo pledges to pay out between 50 and 70 percent of net profits as dividends over the next three years.
"The market will decide the price. If we like it, we will list, if not, there is no obligation," Cattaneo said. (Additional reporting by Mark Bendeich; Editing by Pravin Char) | Rail group offer 40 shares IPO
Feb election delay
No new shares Milan Italo expand Europe
Jan 23 former Ferrari boss Luca Cordero Montezemolo Diego della Valle 2006 high-speed trains Italian entrepreneurs -investors 1 billion euros ($1.2 billion risky -up pocket gains (IPO Milan exchange.
selling 40 percent investment 60 percent presence future," Montezemolo Italo six years first train overcome regulatory hurdles opposition rail giant Ferrovie dello Stato .
launch capital increase 2016.
13 million passengers Italo's trains 2017 revenue rose earnings jumped 64 percent last year.
trains hire miracle," Italo complete share offering by February market conditions regulatory approval.
volatility election Italy March 4 delay flotation derail IPO plans No new shares IPO. Montezemolo Chief Executive Flavio Cattaneo 5 percent stake believe Italo generates free cash flow growth plans.
Montezemolo Italo expansion export model abroad EU rules open passenger rail create single market 2020.
Italo ordered 17 EVO trains Alstom without debt fleet 42 new routes Turin-Venice connection .
Cattaneo Italo profit margin 35 percent should infrastructure firm cost base.
share buy-back 2 billion euros.
500 million-euro bond demand times. Italo pledges pay 50 and 70 percent net profits three years.
market decide price. if no obligation," Cattaneo. Mark Bendeich; Pravin Char) | 0.9 |
PITTSBURGH, Jan. 8, 2018 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced that it expects to issue financial results for the fourth quarter and full year of 2017 before the markets open on Tuesday, January 23, 2018. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results the same day at 10:30 AM ET.
Participants are encouraged to pre-register for the conference call at http://dpregister.com/10115668 . Callers who pre-register will be provided a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.
Dial-in Access: The conference call may be accessed by dialing (844) 802-2440 or (412) 317-5133 for international callers. Participants should ask to be joined into the F.N.B. Corporation call.
Webcast Access: The audio-only call and related presentation materials may be accessed via webcast through the "Investor Relations and Shareholder Services" section of the Corporation's website at www.fnbcorporation.com . Access to the live webcast will begin approximately 30 minutes prior to the start of the call.
Presentation Materials: Presentation slides and the earnings release will also be available on the Corporation's website at www.fnbcorporation.com .
A replay of the call will be available shortly after the completion of the call until midnight ET on Tuesday, January 30, 2018. The replay can be accessed by dialing (877) 344-7529 or (412) 317-0088 for international callers; the conference replay access code is 10115668. Following the call, a link to the webcast and the related presentation materials will be posted to the "Shareholder and Investor Relations" section of F.N.B. Corporation's website at www.fnbcorporation.com .
About F.N.B. Corporation
F.N.B. Corporation (NYSE:FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in eight states. FNB holds a significant retail deposit market share in attractive markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. The Company has total assets of $31 billion, and more than 400 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina. The company also operates Regency Finance Company, which has more than 75 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com .
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SOURCE F.N.B. Corporation | PITTSBURGH, Jan.8,2018 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced expects to issue financial results fourth quarter and full year of 2017 before markets open Tuesday, January 23,2018. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., Chief Credit Officer, Gary L. Guerrieri, plan to host conference call discuss Company's financial results same day at 10:30 AM ET.
Participants encouraged to pre-register for conference call at http://dpregister.com/10115668. Callers pre-register provided conference passcode unique PIN to gain immediate access to call bypass live operator. Participants may pre-register at any time, including up to and after call start time.
Dial-in Access: conference call may accessed by dialing (844) 802-2440 or (412) 317-5133 for international callers. Participants should ask to be joined into F.N.B. Corporation call.
Webcast Access: audio-only call and related presentation materials may accessed via webcast through "Investor Relations and Shareholder Services" section of Corporation's website at www.fnbcorporation.com. Access to live webcast begin 30 minutes prior to start call.
Presentation Materials: Presentation slides earnings release available on Corporation's website at www.fnbcorporation.com .
replay of call available after completion call until midnight ET on Tuesday, January 30,2018. replay can accessed by dialing (877) 344-7529 or (412) 317-0088 for international callers; conference replay access code is 10115668. Following call, link to webcast related presentation materials posted to "Shareholder and Investor Relations" section of F.N.B. Corporation's website at www.fnbcorporation.com .
About F.N.B. Corporation
F.N.B. Corporation (NYSE:FNB), headquartered in Pittsburgh, Pennsylvania, is diversified financial services company operating in eight states. FNB holds significant retail deposit market share in attractive markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Charlotte, Raleigh, Durham Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. Company has total assets of $31 billion, more than 400 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina South Carolina. company also operates Regency Finance Company, has 75 consumer finance offices in Pennsylvania, Ohio, Kentucky Tennessee.
FNB provides full range of commercial banking, consumer banking wealth management solutions through subsidiary network led by largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, capital markets lease financing. consumer banking segment provides full line of consumer banking products services, including deposit products, mortgage lending, consumer lending mobile and online banking services. FNB's wealth management services include asset management, private banking insurance.
common stock F.N.B. Corporation trades on New York Stock Exchange under symbol "FNB" included in Standard& Poor's MidCap 400 Index with Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers shareholders investors can learn more about this regional financial institution by visiting F.N.B. Corporation website at www.fnbcorporation.com .
View original content: http://www.prnewswire.com/news-releases/fnb-corporation-schedules-fourth-quarter-2017-earnings-report-and-conference-call-300579221.html SOURCE F.N.B. Corporation | 0.1 |
Internet companies, chipmakers and software vendors are all making a splash in autonomous driving. Intel, Nvidia and Amazon were among companies with self-driving car announcements this week at CES. Getty Images Intel Corp. Senior Vice President and CEO and Chief Technology Officer of Mobileye Amnon Shashua (L) speaks in front of a Ford Fusion with Mobileye autonomous driving technology during a keynote address by Intel Corp.
The promise of self-driving cars has gone mainstream, and this week's massive CES trade show was proof.
Amazon , Intel , Nvidia and Cisco all made announcements about autonomous driving at CES, joining a host of rivals and partners that have publicly reported their efforts. To accommodate, the annual Las Vegas trade show expanded its space for self-driving technologies this year by over one third.
They're coming late to the game: Alphabet's Waymo, Elon Musk's Tesla and the auto giants have all been developing self-driving technology for years. But nearly all the major tech companies now agree that the market potential is too big to ignore.
Here's where the 12 most valuable U.S. tech companies are focusing their investment in autonomous driving, ranked by market cap from biggest to smallest. Apple Source: Apple Inc. Apple CarPlay.
Rumors of an Apple Car were put to bed last year when CEO Tim Cook said the company was working on "autonomous systems," or software that could power self-driving cars. That was a relief to investors who worried about Apple taking on Tesla , Toyota , GM and other car manufacturers.
Cook hasn't made firm promises about self-driving technologies or dates by which they'll hit the market. Apple is partnering with Hertz to test its autonomous software in some of the company's rental cars (Lexus SUVs) on the streets of San Francisco, according to filings with the California Department of Motor Vehicles.
Siri, CarPlay and other Apple software will probably get more usage once autonomous vehicles become a reality and drivers are free to pay attention to their screens, not the road. Alphabet
Google has been talking up autonomous vehicles since 2009 when Sebastian Thrun launched the company's groundbreaking driverless car effort.
In late 2016, Alphabet renamed its self-driving car unit Waymo. Seen as a leader in the nascent industry, Waymo is building an end-to-end self-driving system filled with sensors and software so "you can go door to door without taking the wheel," as its website says. Waymo claims to have 4 million miles of real-world driving experience and data gathered from cities including Mountain View, California, as well as Austin and Phoenix.
Waymo has an early-rider program in Phoenix that lets people use its autonomous cars for their daily transportation needs. It's teaming up with Avis to make the vehicles rentable. The company has also partnered with AutoNation to provide vehicle maintenance and support, and with Intel for processors to power the cars. Microsoft VCG | Getty Images Baidu driverless cars in test run during the 3rd World Internet Conference (WIC) on November 17, 2016 in Jiaxing, Zhejiang Province of China.
Microsoft has a number of partnerships with automakers developing internet-connected and autonomous vehicles including BMW, Ford, Renault-Nissan, Toyota and Volvo. But its most intriguing deal in this new market is with the Chinese internet company Baidu .
Baidu is developing an open source platform that it hopes will become the "Android" of self-driving cars, dubbed Apollo. Microsoft joined Baidu's Apollo "alliance," gaining a channel for sales of Azure cloud services to companies that use Apollo to build and run their self-driving cars. That deal only applies to companies using Apollo outside of China.
Additionally, Microsoft has partnered with and provides Azure cloud services to Ola, Uber's competitor in India, which is expected to offer self-driving vehicles on its app eventually. Amazon Getty Images
Amazon's efforts in autonomous transportation appear most focused on getting items to consumers as quickly and efficiently as possible.
At CES, Amazon was part of a Toyota announcement evealing a self-driving food delivery vehicle called the e-Pallette, just a concept car for now. According to NBC News , Tim Collins, a vice president for Amazon Logistics, said that the partnership with Toyota allows Amazon to "collaborate and explore new opportunities to improve the speed and quality of delivery for our customers."
The Wall Street Journal reported in April that Amazon has cobbled together a team of about a dozen people to work on driverless vehicles for delivery. And in January, Recode reported on a patent that was awarded to Amazon for autonomous cars navigating reversible lanes. Facebook Sheryl Sandberg speaks about overcoming grief and resilience at the Commonwealth Club in San Francisco.
Chief Operating Officer Sheryl Sandberg traveled to Germany in September to address the prestigious Frankfurt Motor Show, attended by Chancellor Angela Merkel .
"We're the only company in Silicon Valley that's not building a car," she quipped.
Among the big five tech companies, Facebook has perhaps the smallest role in the car itself, but Sandberg was in Frankfurt to talk about its sponsorship of a "new mobility world," tying together the auto and tech industry.
Facebook's research in virtual and augmented reality will potentially be used to give consumers a feel for the autonomous driving experience. It's all pretty vague right now. Intel Source: Mobileye A still image from a Mobileye video.
The chipmaker wants to become one of the world's biggest automotive suppliers. To that end, it acquired Mobileye for around $15.3 billion last year and partnered with Waymo to provide sensors and connectivity.
Mobileye, out of Israel, makes systems used for collision detection and other features in self-driving vehicles. Intel made a number of self-driving vehicle announcements at CES. It revealed that BMW, Nissan and Volkswagen all plan to use Mobileye technology to create "high-definition maps" that enable self-driving cars to get around safely.
The company is building a test fleet of 100 cars and showed off one of them at the show. The cars are equipped with twelve cameras, radar and laser scanners, and other chips, processors and systems developed by Intel and Mobileye. Oracle David Paul Morris | Bloomberg | Getty Images Larry Ellison, chairman of Oracle Corp., speaks during the Oracle OpenWorld 2016 conference in San Francisco, on Sunday, Sept. 18, 2016.
Finding a role for Oracle in the self-driving revolution will be quite a stretch. The closest thing we've heard so far is co-founder and Chairman Larry Ellison refer to a "self-driving database."
In a September earnings call with analysts, Ellison compared the database of the future with the car of the future.
"Self-driving cars eliminate the labor cost of driving, plus the high cost associated with human driving errors," he said. "Self-driving database eliminates the labor cost of tuning, managing, and upgrading the database, thus avoiding all of the costly downtime associated with human error."
In other words, don't expect Oracle to drive you to and from work. Cisco Mack Hogan | CNBC
On Tuesday a | Internet companies chipmakers software vendors making splash in autonomous driving. Intel, Nvidia Amazon among companies with self-driving car announcements this week at CES. Getty Images Intel Corp. Senior Vice President CEO Chief Technology Officer of Mobileye Amnon Shashua (L) speaks in front of Ford Fusion with Mobileye autonomous driving technology during keynote address by Intel Corp.
promise of self-driving cars has gone mainstream, this week's massive CES trade show was proof.
Amazon, Intel, Nvidia Cisco made announcements about autonomous driving at CES, joining rivals partners publicly reported efforts. annual Las Vegas trade show expanded space for self-driving technologies this year by over one third.
Alphabet's Waymo, Elon Musk's Tesla auto giants developing self-driving technology for years. major tech companies agree market potential is too big to ignore.
12 most valuable U.S. tech companies focusing investment in autonomous driving, ranked by market cap. Apple Source Apple Inc. Apple CarPlay.
Rumors of Apple Car put to bed last year when CEO Tim Cook said company was working on "autonomous systems," software power self-driving cars. relief to investors worried about Apple taking on Tesla, Toyota, GM other car manufacturers.
Cook hasn't made firm promises about self-driving technologies or dates 'll hit market. Apple is partnering with Hertz to test autonomous software in company's rental cars (Lexus SUVs) on streets San Francisco, according filings California Department of Motor Vehicles.
Siri, CarPlay other Apple software will probably get more usage once autonomous vehicles become reality drivers are free to pay attention to screens, not road. Alphabet Google has talking autonomous vehicles since 2009 when Sebastian Thrun launched company's groundbreaking driverless car effort.
In late 2016 Alphabet renamed self-driving car unit Waymo. leader in nascent industry Waymo building end-to-end self-driving system sensors software "you go door to door without wheel," website. Waymo claims have 4 million miles of real-world driving experience data from cities including Mountain View, California Austin and Phoenix.
Waymo has early-rider program in Phoenix people use autonomous cars for daily transportation needs. teaming with Avis to make vehicles rentable. partnered with AutoNation vehicle maintenance support Intel for processors power cars. Microsoft VCG Getty Images Baidu driverless cars in test run during 3rd World Internet Conference (WIC) on November 17,2016 in Jiaxing, Zhejiang Province China.
Microsoft has partnerships with automakers developing internet-connected autonomous vehicles including BMW Ford, Renault-Nissan Toyota Volvo. deal market with Chinese internet company Baidu.
Baidu developing open source platform hopes become "Android" of self-driving cars, Apollo. Microsoft joined Baidu's Apollo "alliance," gaining channel for sales of Azure cloud services to companies use Apollo build run self-driving cars. deal applies to companies using Apollo outside China.
Microsoft partnered with provides Azure cloud services to Ola, Uber's competitor in India expected to offer self-driving vehicles on app. Amazon Getty Images
Amazon's efforts in autonomous transportation on getting items to consumers quickly efficiently.
At CES Amazon part of Toyota announcement self-driving food delivery vehicle e-Pallette, concept car for. NBC News, Tim Collins vice president for Amazon Logistics partnership with Toyota allows Amazon to "collaborate explore new opportunities improve speed quality of delivery for customers."
Wall Street Journal reported Amazon cobbled team of a dozen people to work on driverless vehicles for delivery. January Recode reported on patent awarded to Amazon for autonomous cars navigating reversible lanes. Facebook Sheryl Sandberg speaks overcoming grief resilience at Commonwealth Club San Francisco.
Chief Operating Officer Sheryl Sandberg traveled to Germany September address Frankfurt Motor Show attended by Chancellor Angela Merkel.
"We're only company in Silicon Valley 's not building car," quipped. Among big five tech companies Facebook has smallest role in car, Sandberg in Frankfurt talk sponsorship of "new mobility world," auto tech industry.
Facebook's research in virtual augmented reality potentially used give consumers feel for autonomous driving experience. vague. Intel Source: Mobileye A image from video.
chipmaker wants to become world's biggest automotive suppliers. acquired Mobileye for $15.3 billion partnered with Waymo provide sensors connectivity.
Mobileye Israel makes systems for collision detection features self-driving vehicles. Intel made self-driving vehicle announcements CES. BMW, Nissan Volkswagen plan to use Mobileye technology create "high-definition maps" enable self-driving cars safely.
company is building test fleet of 100 cars one at show. cars equipped with twelve cameras radar laser scanners, other chips processors systems developed by Intel Mobileye. Oracle David Paul Morris| Bloomberg| Getty Images Larry Ellison chairman Oracle Corp., speaks during Oracle OpenWorld 2016 conference San Francisco Sunday Sept.18,2016.
Finding role for Oracle in self-driving revolution stretch. co-founder Chairman Larry Ellison refer to "self-driving database." September earnings call Ellison compared database future with car of future.
"Self-driving cars eliminate labor cost of driving high cost human driving errors,". "Self-driving database eliminates labor cost of tuning managing upgrading database, avoiding costly downtime with human error."
don't expect Oracle to drive you work. Cisco Mack Hogan| CNBC
On Tuesday a | 0.2 |
ALAMEDA, Calif., Jan. 4, 2018 /PRNewswire/ -- P4G Capital Management, LLC ("P4G Capital") announced today that it has acquired the assets of Unique Elevator Interiors, Inc. ("UEI", www.uniqueelevator.com ). Based in Alameda, CA, UEI manufactures and installs custom elevator interiors for elevator OEMs, general contractors, building owners, and property managers. The Company specializes in providing durable elevator parts, fixtures, floors and elevator cab panels that are light-weight while meeting the aesthetic requirements of architects, OEMs, and owners.
"We are very excited about our partnership with P4G Capital," said Tom Irion, President and co-founder of UEI. "The partners at P4G understand our dedication to quality and customer service as well as our desire to expand our business to new geographic markets."
The management team of UEI will be staying on and rolling a significant portion of their proceeds into the new entity as the Company expands its operations to provide even better response times, quality, and service to their customers while expanding to new geographies on the West Coast.
"We were looking for a financing source that understood our business and our industry as well as saw the potential to service new markets with additional capital; we found a great partner in P4G," said Tim Crawford, Vice President and co-founder of UEI.
"Unique Elevator Interiors is a fantastic company and the perfect addition to our growing portfolio," said Rachel Lehman, Managing Director of P4G Capital. "We look forward to working side-by-side with this management team to execute on their vision for the future."
TCF Bank provided financing for the transaction.
About P4G Capital
P4G Capital is a San Francisco based private equity firm founded by operators-turned-investors with a long history of partnering with management teams to create value. Partnering with fellow entrepreneurs, P4G focuses on the lower end of the middle market, providing capital, resources, and deep operational expertise to fuel extraordinary growth.
www.p4gcap.com
Media Contact: Shamus Dailey, 1-415-510-2157, sdailey@p4gcap.com
View original content: http://www.prnewswire.com/news-releases/p4g-capital-announces-investment-in-unique-elevator-interiors-300577562.html
SOURCE P4G Capital Management | ALAMEDA, Calif., Jan.4,2018 /PRNewswire/ -- P4G Capital Management, LLC Capital") announced acquired assets Unique Elevator Interiors, Inc. ("UEI", www.uniqueelevator.com ). Based in Alameda, CA, UEI manufactures installs custom elevator interiors for elevator OEMs general contractors building owners, property managers. specializes in providing durable elevator parts, fixtures, floors elevator cab panels light-weight meeting aesthetic requirements architects OEMs, owners.
excited about partnership with P4G Capital," said Tom Irion, President co-founder UEI. "The partners P4G understand our dedication to quality customer service desire to expand business to new geographic markets."
management team UEI will staying rolling portion proceeds into new entity as expands operations to provide better response times quality, service while expanding to new geographies on West Coast.
looking for financing source understood business industry potential to service new markets with additional capital; found great partner in P4G," Tim Crawford, Vice President co-founder UEI.
"Unique Elevator Interiors is fantastic company perfect addition to portfolio," Rachel Lehman, Managing Director P4G Capital. look forward to working with management team execute vision for future."
TCF Bank provided financing for transaction.
P4G Capital
P4G Capital is San Francisco based private equity firm founded by operators-turned-investors long history of partnering with management teams create value. entrepreneurs P4G focuses on lower end middle market, providing capital resources, deep operational expertise to fuel growth.
www.p4gcap.com
Media Contact: Shamus Dailey,1-415-510-2157, sdailey@p4gcap.com
View original content: http://www.prnewswire.com/news-releases/p4g-capital-announces-investment-in-unique-elevator-interiors-300577562.html SOURCE P4G Capital Management | 0.3 |
HOUSTON, Jan. 31, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Quantum Medical Transport, Inc. (OTCBB:DRWN) announces plans to launch a $50 Million ICO (Initial Coin Offering) via Private Placement to raise capital for growth, debt restructuring, stock repurchase and acquisitions. The company is in the process of having its white paper/private placement memorandum developed to launch its Pre-ICO offering. The digital tokens or custom coins known as cryptocurrency similar to (e.g. Bitcoin and Ether) will be offered via a known credible Fintech public blockchain Etherum based platform, which will enable digital coin traders known as miners to purchase the utility coins in fiat currency, Bitcoin or Ether. A formal prospectus/white paper will be released soon. Our prospectus will be offered to accredited investors pursuant to Rule 506(c). We believe this will become the norm for venture capital type capital raises. The company will seek to develop a FINTECH blockchain technology that enables secure encryption data sharing (Health Information Data Exchange) that will be HIPAA compliant. We believe this technology platform can be a significant revenue generator for the company as healthcare professionals such physicians, medical facilities including nursing homes we currently service will be able to utilize the subscription service that will use a multi-signature, multi-layer secure key code through a set of customized nodes to transport data.
(This announcement appears as a matter of record only and is not an offer to sale any securities. No party has been authorized to sale securities on behalf of the company. Any offer and sale will be conducted via prospectus only to qualified investors).
About Quantum Medical Transport/United Ambulance
QUANTUM MEDICAL TRANSPORT, INC. /UNITED AMBULANCE, LLC is an emergency and non-emergency medical services transportation company that operates in the State of Texas. The Company provides basic and advanced life support ground transport in an emergency and non-emergency setting, 24 hours a day, and seven days a week. The Company makes both local and regional out-of-town services available on a daily dispatch basis.
Management remains focused on providing prompt, high-quality patient care at the Advanced and Basic Life Support levels. Employees will work diligently to achieve goals while maintaining the highest standards of care.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under "Risk Factors" and "Our Business." Forward- subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated for many reasons.
Source: QUANTUM MEDICAL TRANSPORT, INC.
Investor Relations:
Ricky Bernard
832-436-1831 x100
info@quantummedicaltransport.com
www.quantummedicaltransport.com
Source:Quantum Medical Transport, Inc. | HOUSTON, Jan.31,2018 (GLOBE NEWSWIRE) -- OTC PR WIRE-- Quantum Medical Transport, Inc. (OTCBB:DRWN announces plans to launch $50 Million ICO (Initial Coin Offering) via Private Placement raise capital for growth debt restructuring stock repurchase acquisitions. company process white paper/private placement memorandum developed launch Pre-ICO offering. digital tokens or custom coins cryptocurrency similar to Bitcoin Ether offered via Fintech public blockchain Etherum platform, enable digital coin traders miners to purchase utility coins in fiat currency Bitcoin or Ether. formal prospectus/white paper released soon. prospectus offered to accredited investors Rule 506(c). norm for venture capital capital raises. company develop FINTECH blockchain technology secure encryption data sharing (Health Information Data Exchange) HIPAA compliant. technology platform significant revenue generator for company healthcare professionals physicians medical facilities nursing homes service utilize subscription service use multi-signature multi-layer secure key code through customized nodes to transport data.
announcement record only not offer to sale securities. No party authorized to sale securities behalf. offer sale conducted via prospectus only to qualified investors).
Quantum Medical Transport/United Ambulance
QUANTUM MEDICAL TRANSPORT, INC. /UNITED AMBULANCE, LLC is emergency non-emergency medical services transportation company in Texas. provides basic advanced life support ground transport in emergency non-emergency setting 24 hours seven days a week. makes local regional out-of-town services daily dispatch .
Management on providing prompt high-quality patient care at Advanced and Basic Life Support levels. Employees work diligently to achieve goals maintaining highest standards of care.
CAUTIONARY STATEMENTS FORWARD-LOOKING STATEMENTS
press involve risks uncertainties. Forward-looking statements can identified by terminology such "believes," "expects," "may," "will," "intends "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," (including use negative), or by discussions of strategies plans intentions. factors could cause results to differ from anticipated by statements, including discussed under "Risk Factors" and "Our Business." Forward- subject to known unknown risks uncertainties and based on inaccurate assumptions could cause actual results to differ from expected or statements. actual results could differ from anticipated for many reasons.
Source: QUANTUM MEDICAL TRANSPORT, INC.
Investor Relations:
Ricky Bernard
832-436-1831 x100
info@quantummedicaltransport.com
www.quantummedicaltransport.com
Source:Quantum Medical, Inc. | 0.4 |
All amounts are expressed in US$ unless otherwise indicated. Results are unaudited and could change based on final audited financial results. This news release contains forward-looking information about expected future events and financial and operating performance of the Company. Readers should refer to the risks and assumptions set out in the "Cautionary Note Regarding Forward-Looking Statements and Information" at the end of this news release.
This news release refers to measures that are not generally accepted accounting principle ("non-GAAP") financial measures, including cash costs per payable ounce of silver ("Cash Costs") and all-in sustaining costs per silver ounce sold ("AISCSOS"). Please refer to the section titled "Alternative Performance (non-GAAP) Measures" at the end of this news release for further information on these measures.
VANCOUVER, Jan. 11, 2018 /PRNewswire/ - Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) ("Pan American Silver", or the "Company") today announced preliminary operating results for the fourth quarter ("Q4") and full year 2017, with annual silver production within the targeted range and consolidated cash costs per payable ounce of silver, net of by-product credits, ("Cash Costs") below guidance. Today, the Company also provided its 2018 guidance and three-year outlook for production and costs.
"The Company achieved decade-low consolidated cash costs of $4.55 per ounce in 2017, with silver production as targeted of 25 million ounces, exemplifying the high quality of our silver mining assets. With the completion of our mine expansions in Mexico in 2017, we are now focused on ramping up production from these long-life mines to design capacity rates. Over the next three years, we expect silver production to grow at an annual compounded rate of 8%, reaching 30.5 to 33.0 million ounces by 2020," said Michael Steinmann, President and Chief Executive Officer of the Company.
Consolidated Preliminary 2017 Operating Results
2017 Guidance (1)
2017 Actual
Fourth Quarter 2017
Production
Silver (million ounces)
24.5 - 26.0
25.0
6.6
Gold (thousand ounces)
155.0 - 165.0
160.0
43.7
Zinc (thousand tonnes)
56.5 - 58.5
55.3
14.7
Lead (thousand tonnes)
19.0 - 20.0
21.5
5.4
Copper (thousand tonnes)
8.8 - 9.3
13.4
3.0
Cash Costs (2) ($/ounce)
6.45 - 7.45
4.55
3.18
(1)
Guidance provided in the Company's news release dated January 12, 2017. During 2017, Pan American revised its guidance for 2017 Cash Costs, Consolidated All-In Sustaining Costs per Silver Ounce Sold ("AISCSOS") and project capital in its news release dated August 9, 2017. On November 8, 2017, the Company revised its guidance for 2017 base metal production and further reduced its estimate for Cash Costs.
(2)
Preliminary Cash Costs per payable ounce of silver, net of by-product credits. Average by-product metal prices for 2017 were: Au $1,257/oz, Zn $2,896/tonne, Pb $2,317/tonne, and Cu $6,166/tonne. Cash Costs is a non-GAAP measure and readers should refer to the information under the heading "Alternative Performance (non-GAAP) Measures" at the end of this news release for more information.
Preliminary 2017 Operating Results by Mine
Mine
Silver Production
(million ounces)
Gold Production
(thousand ounces)
Cash Costs ($/ounce) (1)
La Colorada
7.1
4.3
2.08
Dolores
4.2
103.0
(1.65)
Alamo Dorado
0.6
2.1
16.49
Huaron
3.7
1.1
1.35
Morococha (92.3%) (2)
2.6
3.5
(5.34)
San Vicente (95%) (2)
3.6
0.5
11.85
Manantial Espejo
3.1
45.3
18.25
Total (3)
25.0
160.0
4.55
(1)
Cash Costs is a non-GAAP measure and readers should refer to the information under the heading "Alternative Performance (non-GAAP) Measures" at the end of this news release for more information.
(2)
Reflects Pan American's ownership in the operation.
(3)
Totals may not add up due to rounding.
2017 Operating Highlights:
Consolidated silver production of 25.0 million ounces was within the original guidance range provided in January 2017 (the "Original Guidance") of 24.5 million to 26.0 million ounces. Consolidated gold production of 160 thousand ounces was within the Original Guidance range of 155 thousand to 165 thousand ounces. Annual record set for gold production at Dolores. Record zinc and lead production with lead production beating the Company's Original Guidance and zinc production slightly below the Original Guidance. Copper production beat the Company's Original Guidance. Zinc and copper production were within the revised range provided on November 8, 2017 (the "Revised Guidance") while lead production was slightly above the Revised Guidance. Annual production records were set for zinc and lead at La Colorada. Decade-low annual consolidated Cash Costs of $4.55 were 35% below the midpoint of the Original Guidance of $6.45 to $7.45, and at the low end of the Revised Guidance, largely due to improved productivity at our mines in Peru and Mexico, higher by-product credits from strong base metal production and base metal prices, and improved concentrate treatment costs. Annual Cash Costs records were set at La Colorada, Huaron, Morococha, and Dolores. Construction of the La Colorada mine expansion was completed. Full design processing rates of 1,800 tonnes per day were achieved in mid-2017, about six months ahead of schedule. Average throughput exceeded design rates by about 5% during the last six months of 2017. Construction of the Dolores pulp agglomeration plant was completed and commissioning commenced. Heap leach pad stacking rates achieved 97% of the expanded capacity of 20,000 tonnes per day during the last four months of 2017. Implementation of "Towards Sustainable Mining" ("TSM") was initiated. TSM is a three-year initiative designed to enhance our community engagement processes, drive world-leading environmental practices and reinforce our commitment to the safety and health of our employees and surrounding communities.
2018 Guidance and Three-Year Outlook
Pan American's guidance for 2018 as at January 11, 2018, is provided below. We may revise guidance during the year to reflect actual and anticipated results. We also provide a three-year outlook of our production, Cash Costs, sustaining capital and AISCSOS on a consolidated basis, which we update only on an annual basis.
2018 Guidance by Mine
Mine
Silver Production
(million ounces)
Gold Production
(thousand ounces)
Cash Costs ($/ounce) (1)
La Colorada
7.4 - 7.7
4.2 - 4.3
1.35 - 1.70
Dolores
4.5 - 4.9
138.9 - 147.7
(1.25) - 0.45
Huaron
3.6 - 3.8
1.0
0.75 - 1.50
Morococha (92.3%) (2)
2.5 - 2.7
2.2 - 2.3
(5.80) - (4.30)
San Vicente (95%) (2)
3.9 - 4.1
0.2
10.00 - 10.50
Manantial Espejo
3.2 - 3.3
28.5 - 29.5
17.60 - 19.00
Total (3)
25.0 - 26.5
175.0 - 185.0
3.60 - 4.60
(1)
Cash Costs is a non-GAAP measure and readers should refer to the information under the heading "Alternative Performance (non-GAAP) Measures" at the end of this news release for more information.
(2)
Reflects Pan American's ownership in the operation.
(3)
Totals may not add up due to rounding.
Three-year Outlook
The following table provides Pan American's guidance and outlook for the years 2018 to 2020 (the "Three-year Outlook"):
2018 Guidance
2019 Outlook
2020 Outlook
Production
| amounts expressed in US$ unless otherwise indicated. Results unaudited could change based on final financial results. news release contains information about future events financial performance Company. refer to risks assumptions in "Cautionary Note Regarding Forward-Looking Statements Information" end news release.
refers to measures not accepted ("non-GAAP") financial measures including cash costs per payable ounce silver ("Cash Costs") -in sustaining costs per silver ounce sold ("AISCSOS"). refer to "Alternative Performance (non-GAAP) Measures" end for further information .
VANCOUVER, Jan.11,2018 /PRNewswire- Pan American Silver Corp. (NASDAQ: PAAS TSX: PAAS announced preliminary operating results fourth quarter ("Q4") full year 2017, annual silver production within range consolidated cash costs per ounce silver, net by-product credits, ("Cash Costs") below guidance. Company provided 2018 guidance three-year outlook for production costs.
Company achieved decade-low consolidated cash costs of $4.55 per ounce in 2017, silver production targeted 25 million ounces, high quality silver mining assets. mine expansions in Mexico 2017 ramping up production from long-life mines to design capacity rates. next three years expect silver production to grow at annual rate 8%, reaching 30.5 to 33.0 million ounces by 2020," Michael Steinmann, President Chief Executive Officer .
Preliminary 2017 Operating Results
2017 Guidance (1)
2017 Actual
Fourth Quarter 2017
Production
Silver (million ounces)
24.5- 26.0
25.0
6.6
Gold (thousand ounces)
155.0- 165.0
160.0
43.7
Zinc (thousand tonnes)
56.5- 58.5
55.3
14.7
Lead (thousand tonnes)
19.0- 20.0
21.5
5.4
Copper (thousand tonnes)
8.8- 9.3
13.4
3.0
Cash Costs (2) ($/ounce)
6.45- 7.45
4.55
3.18
(1)
Guidance Company's news release January 12,2017.2017 Pan American revised guidance for 2017 Cash Costs, Consolidated All-In Sustaining Costs per Silver Ounce Sold ("AISCSOS") project capital news release August 9,2017. November 8,2017 Company revised guidance 2017 base metal production reduced estimate Cash Costs.
(2)
Preliminary Cash Costs per payable ounce silver, net by-product credits. Average by-product metal prices 2017 Au $1,257/oz, Zn $2,896/tonne Pb $2,317/tonne, Cu $6,166/tonne. Cash Costs non-GAAP measure refer information "Alternative Performance (non-GAAP) Measures" end news release more information.
Preliminary 2017 Operating Results by Mine
Mine
Silver Production
(million ounces)
Gold Production
(thousand ounces)
Cash Costs ($/ounce) (1)
La Colorada
7.1
4.3
2.08
Dolores
4.2
103.0
(1.65)
Alamo Dorado
0.6
2.1
16.49
Huaron
3.7
1.1
1.35
Morococha (92.3%) (2)
2.6
3.5
(5 34)
San Vicente (95%) (2)
3.6
0.5
11.85
Manantial Espejo
3.1
45.3
18.25
Total (3)
25.0
160.0
4.55
(1)
Cash Costs non-GAAP measure refer information "Alternative Performance (non-GAAP) Measures" end news release more information.
(2 Reflects Pan American's ownership operation.
(3 Totals may not add up due to rounding.
2017 Operating Highlights:
Consolidated silver production 25.0 million ounces within original guidance range January 2017 "Original Guidance") 24.5 million to 26.0 million ounces. gold production 160 thousand ounces within Original Guidance range 155 thousand to 165 thousand ounces. Annual record gold production at Dolores. Record zinc lead production lead production beating Original Guidance zinc production below Original Guidance. Copper production beat Company Original Guidance. Zinc copper production within revised range November 8 2017 "Revised Guidance") lead production slightly above Revised Guidance. Annual production records zinc lead at La Colorada. Decade-low annual consolidated Cash Costs $4.55 35% below midpoint Original Guidance $6.45 to $7.45, low end Revised Guidance due to improved productivity mines Peru Mexico higher by-product credits strong base metal production base metal prices improved concentrate treatment costs. Annual Cash Costs records at La Colorada, Huaron Morococha Dolores. Construction La Colorada mine expansion completed. Full design processing rates 1,800 tonnes per day achieved mid-2017 six months ahead schedule. Average throughput exceeded design rates 5% last six months 2017. Construction Dolores pulp agglomeration plant completed commissioning. Heap leach pad stacking rates 97% expanded capacity 20,000 tonnes per day last four months 2017. Implementation "Towards Sustainable Mining" ("TSM") initiated. TSM three-year initiative enhance community engagement drive environmental practices reinforce commitment safety health employees surrounding communities.
2018 Guidance Three-Year Outlook
Pan American's guidance 2018 January 11 2018 provided. may revise guidance reflect actual results. provide three-year outlook production Cash Costs sustaining capital AISCSOS consolidated basis update annual basis.
2018 Guidance by Mine
Mine
Silver Production
(million ounces)
Gold Production
(thousand ounces)
Cash Costs ($/ounce) (1)
La Colorada
7.4- 7.7
4.2- 4.3
1.35- 1.70
Dolores
4.5- 4.9
138.9- 147.7
(1.25- 0.45
Huaron
3.6- 3.8
1.0
0.75- 1.50
Morococha (92.3%) (2)
2.5- 2.7
2.2- 2.3
(5.80)- (4.30)
San Vicente (95%) (2)
3.9- 4.1
0.2
10.00- 10.50
Manantial Espejo
3.2- 3.3
28.5- 29.5
17.60- 19.00
Total (3)
25.0- 26.5
175.0- 185.0
3.60- 4.60
(1)
Cash Costs non-GAAP measure readers refer to information "Alternative Performance (non-GAAP Measures" end news release for information.
Reflects Pan American's ownership in operation.
Totals may not add up due to rounding.
Three-year Outlook
table provides Pan American's guidance outlook 2018 to 2020 "Three-year Outlook"):
2018 Guidance
2019 Outlook
2020 Outlook
Production
| 0.5 |
NEEDHAM, Mass., Jan. 10, 2018 /PRNewswire/ -- TripAdvisor, Inc. (NASDAQ: TRIP) announced today that it will audiocast a conference call on Thursday, February 15, 2018 at 8:30 a.m. Eastern Time to answer questions regarding its fourth quarter and full-year financial results and management's published remarks. After the close of market trading on Wednesday, February 14, TripAdvisor will issue a press release reporting results and will simultaneously publish management's prepared remarks, which may include certain forward-looking information, at http://ir.tripadvisor.com/events-and-presentations .
The details of the live conference call audiocast and replay are as follows:
What:
TripAdvisor Fourth Quarter and Full Year 2017 Conference Call
When:
Thursday, February 15, 2018
Time:
8:30 a.m. ET
Live Call:
(877) 224-9081, domestic
(224) 357-2223, international
Replay:
(855) 859-2056, passcode 9292509, domestic
(404) 537-3406, passcode 9292509, international
Webcast:
http://ir.tripadvisor.com/events-and-presentations (live and replay)
About TripAdvisor
TripAdvisor, the world's largest travel site**, enables travelers to unleash the full potential of every trip. With over 570 million reviews and opinions covering the world's largest selection of travel listings worldwide -- covering 7.3 million accommodations, airlines, attractions, and restaurants -- TripAdvisor provides travelers with the wisdom of the crowds to help them decide where to stay, how to fly, what to do and where to eat. TripAdvisor also compares prices from more than 200 hotel booking sites so travelers can find the lowest price on the hotel that's right for them. TripAdvisor-branded sites are available in 49 markets, and are home to the world's largest travel community of 455 million average monthly unique visitors*, all looking to get the most out of every trip. TripAdvisor: Know better. Book better. Go better.
The subsidiaries and affiliates of TripAdvisor, Inc. (NASDAQ:TRIP) own and operate a portfolio of websites under 20 other travel media brands:
www.airfarewatchdog.com , www.bookingbuddy.com , www.citymaps.com , www.cruisecritic.com ,
www.familyvacationcritic.com , www.flipkey.com , www.thefork.com (including www.lafourchette.com , www.eltenedor.com , www.iens.nl and www.dimmi.com.au ), www.gateguru.com ,
www.holidaylettings.co.uk , www.holidaywatchdog.com , www.housetrip.com , www.jetsetter.com ,
www.niumba.com , www.onetime.com , www.oyster.com , www.seatguru.com , www.smartertravel.com ,
www.tingo.com , www.vacationhomerentals.com and www.viator.com .
*Source: TripAdvisor log files, average monthly unique visitors, Q3 2017
**Source: comScore Media Metrix for TripAdvisor Sites, worldwide, July 2017
TRIP-G
View original content with multimedia: http://www.prnewswire.com/news-releases/tripadvisor-to-audiocast-fourth-quarter-2017-conference-call-on-february-15-2018-300580411.html
SOURCE TripAdvisor, Inc. | NEEDHAM Mass., Jan.10,2018 /PRNewswire/ -- TripAdvisor Inc. (NASDAQ TRIP announced audiocast conference call Thursday February 15,2018 8:30 a.m. Eastern Time answer questions fourth quarter full-year financial results management's remarks. After close market trading Wednesday February 14, TripAdvisor issue press release results publish management's remarks forward-looking information http://ir.tripadvisor.com/events-and-presentations details of live conference call audiocast replay TripAdvisor Fourth Quarter Full Year 2017 Conference Call
Thursday, February 15,2018
Time 8:30 a.m. ET
Live Call:
(877) 224-9081, domestic
(224) 357-2223, international
Replay:
(855) 859-2056, passcode 9292509, domestic
(404) 537-3406, passcode 9292509, international
Webcast:
http://ir.tripadvisor.com/events-and-presentations (live replay About TripAdvisor
TripAdvisor world's largest travel site**, enables travelers unleash potential every trip. over 570 million reviews opinions largest travel listings -- 7.3 million accommodations airlines attractions restaurants -- provides travelers wisdom help decide where stay fly eat. compares prices 200 hotel booking sites find lowest price. TripAdvisor sites available 49 markets home largest travel community 455 million monthly unique visitors*, most out every trip. TripAdvisor Know better. Book better. Go better.
subsidiaries TripAdvisor Inc (NASDAQ:TRIP own operate websites 20 travel media brands:
www.airfarewatchdog.com .bookingbuddy.com .citymaps.com .cruisecritic.com .familyvacationcritic.com .flipkey.com .thefork.com .lafourchette .eltenedor.com .iens.nl .dimmi.com www.gateguru.com .holidaylettings.co.uk .holidaywatchdog.com .housetrip.com .jetsetter.com .niumba.com .onetime.com www.oyster.com .seatguru.com .smartertravel.com .tingo.com .vacationhomerentals.com www.viator.com .
*Source: TripAdvisor log files, average monthly unique visitors, Q3 2017
**Source comScore Media Metrix for TripAdvisor Sites, worldwide, July 2017
TRIP-G
View original content multimedia: http://www.prnewswire.com/news-releases/tripadvisor-to-audiocast-fourth-quarter-2017-conference-call-on-february-15-2018-300580411.html SOURCE TripAdvisor, Inc. | 0.7 |
January 23, 2018 / 7:48 AM / in 31 minutes UK's N Brown Group revenue rises 3.2 pct on good Christmas Reuters Staff 2 Min Read
Jan 23 (Reuters) - British clothing retailer N Brown Group Plc reported a 3.2 percent rise in third-quarter revenue and said it had a robust Christmas season.
The revenue rise at N Brown contrasts that of traditional British retailers, who have reported subdued trading on increasing online competition and pressure on consumer spending.
The company, whose brands target women aged 30 and above, and those of a larger frame, revenue from its brand Simply Be rose 14.5 percent, partly helped by its Christmas campaigns.
Revenue at its other two power brands, JD Williams and Jacamo, rose 3 percent and 4.6 percent respectively in the 18- week period to Jan. 6.
N Brown said its overall online penetration rose 4 percentage points year-on-year to 74 percent, with total online sales rising 9 percent.
The company, which maintained its full-year profit view, said it expected product gross margin for the year ending March to be down between 225 basis points and 250 basis points, due to higher promotional activity.
That compares with its prior estimate of a fall of 70 basis points to 120 basis points. (Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier) | January 23,2018/ 7:48 AM/ 31 minutes UK's N Brown Group revenue rises 3.2 pct on good Christmas Reuters Staff 2 Min Read
Jan 23 (Reuters)- British clothing retailer N Brown Group Plc reported 3.2 percent rise in third-quarter revenue said robust Christmas season.
revenue rise N Brown contrasts traditional British retailers reported subdued trading on increasing online competition pressure on consumer spending.
company brands target women aged 30 and above larger frame, revenue from brand Simply Be rose 14.5 percent helped by Christmas campaigns.
Revenue at other two power brands JD Williams and Jacamo, rose 3 percent and 4.6 percent respectively in 18- week period to Jan.6.
N Brown overall online penetration rose 4 percentage points year-on-year to 74 percent, total online sales rising 9 percent.
company maintained full-year profit view said expected product gross margin for year ending March to be down between 225 basis points and 250 basis points, due to higher promotional activity.
compares with prior estimate of fall of 70 basis points to 120 basis points. (Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier) | 0.1 |
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