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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 |
(Adds comment, details, table, byline) By Gertrude Chavez-Dreyfuss NEW YORK, Jan 26 (Reuters) - Speculators' net short dollar bets rose in the latest week to their largest amount since mid-October, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the net short dollar position, derived from net holdings of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars, was $11.47 billion, in the week to Jan. 23. The previous week's net short position on the dollar was $9.59 billion. In a wider measure of dollar positioning that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the U.S. dollar posted a net short position valued at $14.458 billion, compared with $11.80 billion the week before. Net short U.S. dollar contracts have increased for four straight weeks, underscoring bearish sentiment on the greenback despite the prospect of higher U.S. interest rates this year. Other major central banks, such as the European Central Bank, have been normalizing their monetary policies, boosting their currencies, specifically against the dollar. It has been a choppy week for the dollar after U.S. Treasury Secretary Steve Mnuchin commented that a weak currency is good for the United States, only to backtrack after the greenback fell sharply. President Donald Trump did his own damage control, saying that the government still supports a strong dollar. "If you take the overall stance of the U.S. administration, it's protectionist and still it's not clear what kind of dollar the president and the Treasury want, but it still doesn't sound like they really want a strong dollar given the fact that they are aiming to boost exports," said Vassili Serebriakov, currency strategist at Credit Agricole in New York. "Ultimately when you think about the dollar, it's still in a downtrend," he said. "I don't think it changes the overall picture very much. It's still in a downtrend." Speculators, meanwhile, pared back net short positions on bitcoin futures traded on CBOE Global Markets to 1,746 contracts this week, from a record high of 2,226 the previous week, CFTC data showed. Digital currency bitcoin has been on a highly volatile track in the last few months. After hitting an all-time high just shy of $20,000 on Dec. 17 on the Bitstamp platform, it plunged more than 50 percent in roughly a month to below $10,000. Bitcoin has stabilized since then and was last down more than 2 percent at $10,915.77. Japan Yen (Contracts of 12,500,000 yen) $13.926 billion Jan. 23, 2018 Prior week week Long 37,260 38,152 Short 160,130 157,502 Net -122,870 -119,350 EURO (Contracts of 125,000 euros) $-22.245 billion Jan. 23, 2018 Prior week week Long 262,175 254,344 Short 117,458 114,854 Net 144,717 139,490 POUND STERLING (Contracts of 62,500 pounds sterling) -$2.891 billion Jan. 23, 2018 Prior week week Long 99,369 84,661 Short 66,324 58,457 Net 33,045 26,204 SWISS FRANC (Contracts of 125,000 Swiss francs) $2.887 billion Jan. 23, 2018 Prior week week Long 14,245 14,233 Short 36,360 35,339 Net -22,115 -21,106 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) -$1.817 billion Jan. 23, 2018 Prior week week Long 69,446 61,473 Short 46,889 43,917 Net 22,557 17,556 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) -$1.334 billion Jan. 23, 2018 Prior week week Long 63,551 50,348 Short 46,872 40,274 Net 16,679 10,074 MEXICAN PESO (Contracts of 500,000 pesos) -$1.636 billion Jan. 23, 2018 Prior week week Long 97,964 82,790 Short 36,809 35,995 Net 61,155 46,795 NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars) $0.108 billion Jan. 23, 2018 Prior week week Long 24,620 17,795 Short 26,086 25,786 Net -1,466 -7,991 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Stephanie Kelly; Editing by Leslie Adler)
| comment table byline Gertrude Chavez-Dreyfuss YORK Jan 26 (Reuters Speculators' net dollar bets rose largest since mid-October calculations Reuters Commodity Futures Trading Commission Friday. value net short dollar position International Monetary Market speculators yen euro British pound Swiss franc Canadian Australian dollars was $11.47 billion Jan.23. previous week's net short position dollar $9.59 billion. contracts New Zealand dollar Mexican peso Brazilian real Russian ruble, U.S. dollar net short position $14.458 billion, compared $11.80 billion week. U.S. dollar contracts increased four weeks, underscoring bearish sentiment greenback higher U.S. interest rates. major central banks European Central Bank normalizing monetary policies currencies against dollar. choppy week dollar U.S. Treasury Secretary Steve Mnuchin weak currency good United States, after greenback fell. President Donald Trump supports strong dollar. stance U.S. administration protectionist clear president Treasury want want strong dollar boost exports," Vassili Serebriakov currency strategist Credit Agricole New York dollar downtrend," Speculators net short positions bitcoin futures CBOE Global Markets to 1,746 contracts this week, from record high 2,226 previous week CFTC. Digital currency bitcoin volatile track months. high $20,000 Dec.17 Bitstamp plunged 50 percent below $10,000. Bitcoin stabilized down 2 percent $10,915.77. Japan Yen 12,500,000 yen $13.926 billion Jan.23,2018 Prior Long 37,260 38,152 Short 160,130 157,502 Net -122,870 -119,350 EURO (Contracts 125,000 euros) $-22.245 billion Jan.23,2018 Prior Long 262,175 254,344 Short 117,458 114,854 Net 144,717 139,490 POUND STERLING (Contracts 62,500 pounds sterling) -$2.891 billion Jan.23,2018 Prior Long 99,369 84,661 Short 66,324 58,457 Net 33,045 26,204 SWISS FRANC (Contracts 125,000 Swiss francs $2.887 billion Jan.23,2018 Prior Long 14,245 14,233 Short 36,360 35,339 Net -22,115 -21,106 CANADIAN DOLLAR (Contracts 100,000 Canadian dollars) -$1.817 billion Jan.23,2018 Prior week Long 69,446 61,473 Short 46,889 43,917 Net 22,557 17,556 AUSTRALIAN DOLLAR (Contracts 100,000 Aussie dollars -$1.334 billion Jan.23,2018 Prior Long 63,551 50,348 Short 46,872 40,274 Net 16,679 10,074 MEXICAN PESO (Contracts 500,000 pesos) -$1.636 billion Jan.23,2018 Prior Long 97,964 82,790 Short 36,809 35,995 Net 61,155 46,795 NEW ZEALAND DOLLAR (Contracts 100,000 NZ dollars) $0.108 billion Jan.23,2018 Prior Long 24,620 17,795 Short 26,086 25,786 Net -1,466 -7,991 (Reporting Gertrude Chavez-Dreyfuss; Additional Stephanie Kelly; Editing Leslie Adler)
| 0.8 |
(Adds details, Kaine, Cotton quotes)
WASHINGTON, Jan 19 (Reuters) - Democratic Senate leader Chuck Schumer met with President Donald Trump at the White House on Friday to search for ways to avert a U.S. government shutdown, but Schumer said afterward that disagreements remained as the clock ticked toward a midnight deadline to pass a funding bill.
Trump invited Schumer to the White House as a stopgap bill to fund the federal government through Feb. 16 appeared on the verge of collapse in the Senate, where Democratic votes are needed to pass it.
"We had a long and detailed meeting," Schumer told reporters on his return to the U.S. Capitol after the approximately 90-minute meeting. The chiefs of staff for each man - John Kelly for Trump and Mike Lynch for Schumer - also attended.
"We discussed all of the major outstanding issues. We made some progress, but we still have a good number of disagreements. The discussions will continue," Schumer said.
The Republican-controlled House of Representatives approved the stopgap spending measure late on Thursday, but it has been sidetracked in the Senate by a dispute over immigration. The House had planned to recess later on Friday for a weeklong break but members were warned they could be called back for votes.
White House budget director Mick Mulvaney said on Thursday he was ratcheting up the likelihood of a government shutdown from 30 percent to a 50-50 possibility.
The showdown follows months of struggle in Congress to agree on government funding levels and the immigration issue. The federal government is operating on a third temporary funding measure since the new fiscal year began in October.
Democrats have demanded the bill include protections from deportation for 700,000 young undocumented immigrants. Those children, known as "Dreamers," were brought into the United States as children, largely from Mexico and Central America, and given temporary legal status under a program started by former President Barack Obama. Many have been educated in the United States and know no other country.
In September, Trump announced he was ending the program and giving Congress until March 5 to come up with a legislative replacement.
Leaders of both parties blamed each other for the impasse.
"Now that were 13 hours away from a government shutdown that Democrats would initiate and Democrats would own, the craziness of this seems to be dawning on my friend the Democratic leader," Senate Republican leader Mitch McConnell said, referring to Schumer.
"DON'T TURN YOUR BACK"
Dick Durbin, the No. 2 Democrat in the Senate, said Republicans needed to sit down and negotiate and called on House Republicans not to leave town until the crisis was averted.
"I would beg them, dont turn your back on your responsibility right here in Washington to work with us, to try to find a way forward," Durbin said.
Trump, on the eve of the first anniversary of his inauguration, said in a morning tweet that Democrats were holding up a resolution over the immigration issue.
"Democrats are needed if it is to pass in the Senate - but they want illegal immigration and weak borders. Shutdown coming?" he said.
Democratic Senator Tim Kaine told reporters that lawmakers were close to a longer-term deal and should not pass another 30-day funding measure.
"We can get there, were close enough we can get there if we just stay on it," he said. "I think we can get one in the next few days."
Republican Senator Tom Cotton said he was willing to provide protection to DACA recipients in future negotiations.
"We have another six weeks to solve that problem. It doesn't really involve government funding," he told Fox News Channel. "We should take those two issues up in sequence."
Republicans have a 51-49 majority in the Senate, but with Senator John McCain undergoing cancer treatment at home in Arizona they need at least 10 Democrats to reach the 60 votes required to pass a spending bill. In addition to strong Democratic opposition, at least three Republican senators have said they will not back the resolution in its current form.
Republican Senator Mike Rounds, who had earlier said he could not back the bill, on Friday said in a statement that while the measure was "not ideal," he would support it after being assured that other legislation to adequately fund the U.S. military would be raised soon.
Democratic Senator Joe Manchin of West Virginia has indicated he was leaning in favor of the stopgap measure. Manchin is one of 10 Democrats up for re-election this year in states Trump won in the 2016 presidential election.
When the government shuts down, which has only happened three times in a meaningful way since 1995, hundreds of thousands of "non-essential" federal workers may be put on furlough, while "essential" employees, dealing with public safety and national security, would keep working.
Amid the deadlock, more senators were raising the possibility of merely approving enough new federal funds for a few days. The idea is to put pressure on negotiators to then cut deals on immigration, defense spending and non-defense funding by next week.
But McConnell shot down that plan on Friday. "Let's fund the government for a full month so we can actually get something done" and negotiate other issues including immigration, he said. (Reporting by Richard Cowan; Additional reporting by Roberta Rampton, Steve Holland, Lisa Lambert, Blake Brittain and Amanda Becker; Writing by John Whitesides; Editing by Chizu Nomiyama and Bill Trott) | (Adds details Kaine Cotton quotes WASHINGTON Jan 19 (Reuters Democratic Senate leader Chuck Schumer met President Donald Trump White House Friday search avert U.S. government shutdown, Schumer disagreements remained clock midnight deadline pass funding bill.
Trump invited Schumer White House stopgap bill fund federal government Feb.16 verge collapse Senate Democratic votes needed pass .
long detailed meeting," Schumer told reporters return 90-minute meeting. chiefs of staff- John Kelly Trump Mike Lynch Schumer- attended.
discussed major issues made progress disagreements. discussions continue," Schumer .
Republican-controlled House of Representatives approved stopgap spending measure Thursday sidetracked Senate by dispute immigration. House planned recess Friday break members warned could called back for votes.
White House budget director Mick Mulvaney ratcheting likelihood government shutdown from 30 percent to 50-50 possibility.
showdown follows months struggle Congress agree government funding levels immigration issue. federal government operating third temporary funding measure since new fiscal year October.
Democrats demanded bill protections from deportation for 700,000 young undocumented immigrants. children "Dreamers," brought States children from Mexico Central America, given temporary legal status program President Barack Obama. educated United States know no country.
September Trump announced ending program Congress until March 5 legislative replacement.
Leaders both parties blamed for impasse.
13 hours from government shutdown Democrats initiate own craziness dawning Democratic leader," Senate Republican leader Mitch McConnell said referring Schumer.
"DON'T TURN BACK"
Dick Durbin No.2 Democrat Senate said Republicans needed negotiate House Republicans not leave town until crisis averted.
beg dont turn back responsibility Washington work with us find way forward," Durbin .
Trump inauguration Democrats resolution immigration issue.
"Democrats needed pass want illegal immigration weak borders. Shutdown Democratic Senator Tim Kaine lawmakers close to longer-term deal should not pass 30-day funding measure.
can get there stay it,". next days."
Republican Senator Tom Cotton willing to provide protection to DACA recipients future negotiations.
six weeks to solve problem. 't government funding," Fox News Channel. take two issues up in sequence."
Republicans 51-49 majority Senate, Senator John McCain undergoing cancer treatment Arizona need 10 Democrats to reach 60 votes pass spending bill. Democratic opposition three Republican senators will not back resolution current form.
Republican Senator Mike Rounds could not back bill measure "not ideal," support it other legislation to fund U.S. military raised soon.
Democratic Senator Joe Manchin West Virginia favor stopgap measure. one of 10 Democrats for re-election states Trump won 2016 presidential election.
When government shuts down three times since 1995, "non-essential" federal workers may be on furlough "essential" employees public safety national security keep working. deadlock senators possibility approving new federal funds days. idea pressure negotiators cut deals immigration defense spending non-defense funding next week.
McConnell shot down plan Friday. fund government full month negotiate issues immigration. (Reporting Richard Cowan; Additional Roberta Rampton Steve Holland Lisa Lambert Blake Brittain Amanda Becker; Writing John Whitesides; Editing Chizu Nomiyama Bill Trott) | 0.6 |
WASHINGTON, Jan. 31, 2018 /PRNewswire/ -- THRUUE is pleased to announce that James E. Williams, who as president and CEO of Easter Seals helped turn the organization into a national force for social good, has been named the first Executive in Residence of THRUUE, Inc.
Williams helped Easter Seals grow into a multi-billion dollar organization and the largest national service provider for children and adults living with disabilities including autism. His leadership experience and long track record working with corporate boards will provide crucial guidance and insight to companies looking to close the gap between their strategy and culture.
"I am delighted to join the THRUUE team," Williams said. "I look forward to helping both profit and non-profit companies and organizations align their culture and strategy."
In addition to his work at Easter Seals, Williams currently serves as Chairman of the National Trust for Our Wounded and as a director of the United States Veterans Chamber of Commerce. He also served as Chairman of the National Health Council, as Chair of the Commission on Accreditation of Rehabilitation Facilities and on the Pfizer Advisory Board on Patient Engagement and the Advisory Board of Campaign Partners.
Other boards he has served on include the National Alliance for Hispanic Health, the Elizabeth Dole Foundation for Military Caregivers, the Institute for Philanthropy, the National Foundation for Dentistry for People with Disabilities, the JM Foundation Search for Excellence, the Missouri Commission on Comprehensive Health Planning, and the Montessori School of Lake Forest.
As Executive in Residence, Williams will be responsible for expanding THRUUE's strategic planning and culture change offerings, identifying market trends and expansion opportunities and advising CEOs on social impact, business and governance. He will be based in Chicago and Washington.
"Jim is a national leader and a professional CEO who has helped people with disabilities achieve success for decades," THRUUE CEO Daniel Forrester said. "Companies and organizations realize that to be successful they need to align their corporate culture with their business objectives and also be a force for social good. Jim is going to be an integral part of strengthening our expertise in corporate social responsibility and increasing our client's employee and customer loyalty. Jim knows that making a profit remains a necessary goal of every company, but he also sees the awakening of the C-suite to clarity of purpose, values and vision."
Contact: Emily Paquin ( emily@thruue.com )
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THRUUE
View original content with multimedia: http://www.prnewswire.com/news-releases/jim-williams-named-executive-in-residence-at-thruue-300590250.html
SOURCE THRUUE, Inc. | WASHINGTON Jan.31,2018 /PRNewswire THRUUE announce James E. Williams CEO Easter Seals national first Executive in Residence of THRUUE Inc.
helped Easter Seals multi-billion dollar largest national service provider for children adults disabilities autism leadership experience track record corporate boards provide guidance insight close gap strategy culture.
join THRUUE team," profit non-profit companies align culture strategy."
Chairman National Trust for Our Wounded director United States Veterans Chamber of Commerce Chairman National Health Council Commission Accreditation Rehabilitation Facilities Pfizer Advisory Board Patient Engagement Advisory Board Campaign Partners.
National Alliance for Hispanic Health Elizabeth Dole Foundation Military Caregivers Institute for Philanthropy National Foundation Dentistry People with Disabilities JM Foundation Search for Excellence Missouri Commission on Comprehensive Health Planning Montessori School of Lake Forest.
Williams THRUUE's strategic planning culture change offerings market trends expansion opportunities advising CEOs social impact business governance based Chicago Washington.
national leader professional CEO helped people disabilities success align corporate culture business objectives social good. expertise corporate social responsibility employee customer loyalty. profit necessary goal -suite clarity purpose values vision."
Contact Emily Paquin( emily@thruue.com )
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original content http://www.prnewswire.com/news-releases/jim-williams-named-executive-in-residence-at-thruue-300590250.html SOURCE THRUUE, Inc. | 0.9 |
ALAMEDA, Calif., Jan. 30, 2018 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that it will host a conference call to discuss financial results for the fourth quarter and year ended December 31, 2017 after market close on Tuesday, February 27, 2018 at 5:00 PM Eastern Time. A press release with fourth quarter and full year 2017 financial results will be issued after market close that day.
Webcast & Conference Call Information
The conference call can be accessed live over the phone by dialing (866) 393-4306 for domestic callers or (734) 385-2616 for international callers (conference id: 6884769), or the webcast can be accessed on the "Events" section under the "Investors" tab of the Company's website at: www.penumbrainc.com . The webcast will be available on the Company's website for two weeks following the completion of the call.
About Penumbra
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets medical devices and has a broad portfolio of products that addresses challenging medical conditions and significant clinical needs. Penumbra sells its products to hospitals primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets. The Penumbra logo is a trademark of Penumbra, Inc. For more information, visit www.penumbrainc.com .
Investor Relations
Penumbra, Inc.
510-995-2461
investors@penumbrainc.com
View original content with multimedia: http://www.prnewswire.com/news-releases/penumbra-inc-schedules-fourth-quarter-and-full-year-2017-earnings-release-and-conference-call-for-february-27-2018-at-500-pm-eastern-time-300590588.html
SOURCE Penumbra, Inc. | ALAMEDA, Calif., Jan.30,2018 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) announced host conference call discuss financial results fourth quarter and year ended December 31,2017 after market close Tuesday, February 27,2018 at 5:00 PM Eastern Time. press release with fourth quarter and full year 2017 financial results issued after market close .
Webcast& Conference Call Information
conference call accessed live phone by dialing (866) 393-4306 for domestic callers or (734) 385-2616 for international callers (conference id: 6884769), or webcast accessed on "Events" section under "Investors" tab Company's website www.penumbrainc.com. webcast available on Company's website two weeks following completion call.
Penumbra
Penumbra, Inc., headquartered in Alameda, California global healthcare company on innovative therapies. Penumbra designs develops manufactures markets medical devices broad portfolio of products addresses medical conditions significant clinical needs. Penumbra sells products to hospitals through direct sales organization in United States Europe, Canada Australia distributors in international markets. Penumbra logo is trademark of Penumbra Inc. information visit www.penumbrainc.com .
Investor Relations
Penumbra, Inc.
510-995-2461
investors@penumbrainc.com
View original content with multimedia: http://www.prnewswire.com/news-releases/penumbra-inc-schedules-fourth-quarter-and-full-year-2017-earnings-release-and-conference-call-for-february-27-2018-at-500-pm-eastern-time-300590588.html SOURCE Penumbra, Inc. | 0.3 |
House Republicans considered on Tuesday a stopgap bill to fund the U.S. government through Feb. 16 to avert a shutdown, but the measure would not include Democrats' demands for protections for young people brought to the United States illegally as children.
Partisan finger-pointing over immigration policy on Tuesday left Congress and the White House stumbling closer to a possible federal government shutdown by the end of the week.
Republicans who control Congress are expected to try to push another stopgap funding bill and get it to President Donald Trump's desk before a midnight Friday deadline when existing money for federal agencies expires.
The bill would not include protections for the young people described as "Dreamers," Republican Representative Mike Simpson told reporters after his party's closed-door meeting.
Kevin Lamarque | Reuters Demonstrators hold signs during a protest in front of the White House after the Trump administration today scrapped the Deferred Action for Childhood Arrivals (DACA), a program that protects from deportation almost 800,000 young men and women who were brought into the U.S. illegally as children, in Washington, U.S., September 5, 2017. Many Democrats in Congress have insisted that immigration be a component of the temporary spending bill.
But Democrats, under the plan being developed in the House, would win an unrelated high-priority item: a six-year reauthorization of the Children's Health Insurance Program (CHIP), according to lawmakers. It was unclear whether the House Republican leadership would get enough votes to pass the measure in that chamber.
The conservative House Freedom Caucus was to meet late on Tuesday and its head, Representative Mark Meadows , told reporters he did not know if a "compelling" case had been made for another temporary spending bill that would fail to bring the big increases in defense spending his group is seeking.
Republicans were also discussing delaying three Affordable Healthcare Act taxes: two-year delays of a medical device and a "Cadillac" tax for high-end insurance plans and a one-year delay in 2019 of another health insurance tax.
Meanwhile, Senate Majority Leader Mitch McConnell warned that a government funding bill should not be held "hostage" to the immigration debate. And the White House director of legislative affairs, Marc Short, told reporters there was no artificial timeline for a deal on so-called Dreamers and that it would be "herculean" to get it done by this week.
The negotiating climate has become increasingly poisonous after a sudden halt last week in talks toward a deal to shield the Dreamers from deportation.
Trump rejected a bipartisan agreement reached by a group of senators. Divisions between Republicans and Democrats then deepened amid an uproar over Trump's reported use of the word "s___hole" when speaking about African countries last week. Trump has denied using that word.
The head of the Congressional Hispanic Caucus expressed her opposition to the bipartisan Senate deal, although she said she had not seen its text and noted it had some positive aspects.
"In its current form I'm probably a no," Representative Michelle Lujan Grisham, a Democrat, said in an interview.
The Senate approach, Lujan Grisham said, would reduce the parents of Dreamers to "second-class citizens" because they would receive temporary protections and no pathway to citizenship, as well as other problems.
Republican Senator Lindsay Graham on Tuesday blamed White House staff for altering Trump's positive view on the Senate bipartisan agreement on the Deferred Action for Childhood Arrivals (DACA) program that protects the Dreamers.
"I will say I don't think the president was well-served by his staff," Graham said.
If a temporary "continuing resolution" to keep the government operating results, it would be the fourth such measure since the 2018 federal fiscal year began on Oct. 1, a sign of Washington's serious struggles to pass spending legislation.
'Kick the can'
No. 2 House Democrat Steny Hoyer said Democrats have not decided whether they will support another continuing resolution and "kick the can down the road one more time."
The slim Republican margin of control in the U.S. Senate means Trump's party will need some Democratic support to resolve the government funding stand-off. Democrats have said they want a spending bill that protects the Dreamers, mostly Hispanic young adults.
Democratic Senator Dick Durbin intends to introduce the bipartisan agreement as legislation on Wednesday, spokesman Ben Marter said. But it was not yet clear whether Majority Leader McConnell would schedule it for a floor debate and vote.
Trump said in September he was terminating the DACA program, begun by his Democratic predecessor Barack Obama , effective in March. Congress has until then to pass legislation to protect roughly 700,000 people from deportation and issue work permits.
Trump said he was willing to make a deal to help the Dreamers but insisted that funding for border security, including his long-promised wall along the U.S.-Mexican border opposed by Democrats, be included in any spending package.
The bipartisan deal called for $2.7 billion for an array of border security steps.
Trump wrote on Twitter that if the government were shut down over amnesty and border security, the military would be the biggest loser.
Senate Democratic Leader Chuck Schumer countered in a speech on the Senate floor: "If you want to begin the long road back to prove you're not prejudiced or bigoted, support the bipartisan compromise that three Democrats and three Republicans have put before you." | House Republicans considered Tuesday a stopgap bill to fund U.S. government through Feb.16 to avert shutdown, measure not include Democrats' demands for protections for young people brought United States illegally as children.
Partisan finger-pointing over immigration policy Tuesday left Congress and White House stumbling closer to possible federal government shutdown by end of week.
Republicans control Congress expected to push another stopgap funding bill get to President Donald Trump's desk before midnight Friday deadline when existing money for federal agencies expires.
bill not include protections for young people described as "Dreamers," Republican Representative Mike Simpson told reporters after 's meeting.
Kevin Lamarque| Reuters Demonstrators hold signs during protest White House after Trump administration scrapped Deferred Action for Childhood Arrivals (DACA), program protects from deportation 800,000 young men and women brought U.S. illegally as children, in Washington, U.S., September 5,2017. Democrats in Congress insisted immigration be component of temporary spending bill.
Democrats under plan House, would win unrelated high-priority item: six-year reauthorization of Children's Health Insurance Program (CHIP), lawmakers. unclear whether House Republican leadership would get enough votes to pass measure .
conservative House Freedom Caucus meet late Tuesday head, Representative Mark Meadows, told reporters did not know if "compelling" case for another temporary spending bill would fail to bring big increases in defense spending group seeking.
Republicans discussing delaying three Affordable Healthcare Act taxes: two-year delays of medical device "Cadillac" tax for high-end insurance plans one-year delay in 2019 of another health insurance tax.
Senate Majority Leader Mitch McConnell warned government funding bill should not be held "hostage" to immigration debate. White House director of legislative affairs, Marc Short, told reporters no artificial timeline for deal on Dreamers would be "herculean" to get it done by this week.
negotiating climate increasingly poisonous after halt last week in talks toward deal to shield Dreamers from deportation.
Trump rejected bipartisan agreement by senators. Divisions between Republicans and Democrats deepened amid uproar over Trump's use of word "s___hole" when speaking about African countries. Trump denied using that word.
head Congressional Hispanic Caucus expressed opposition to bipartisan Senate deal, not seen text noted positive aspects.
"In current form I'm probably a no," Representative Michelle Lujan Grisham Democrat said interview.
Senate approach would reduce parents of Dreamers to "second-class citizens" because receive temporary protections no pathway to citizenship other problems.
Republican Senator Lindsay Graham blamed White House staff for altering Trump's positive view on Senate bipartisan agreement on Deferred Action for Childhood Arrivals (DACA) program protects Dreamers.
't president was well-served by staff," Graham said.
If temporary "continuing resolution" to keep government operating results fourth such measure since 2018 federal fiscal year began Oct.1, sign of Washington's struggles to pass spending legislation.
'Kick the can'
No.2 House Democrat Steny Hoyer said Democrats not decided will support another continuing resolution "kick can down road time."
slim Republican margin of control in U.S. Senate means Trump's party will need Democratic support to resolve government funding stand-off. Democrats want spending bill that protects Dreamers, mostly Hispanic young adults.
Democratic Senator Dick Durbin intends to introduce bipartisan agreement as legislation Wednesday, spokesman Ben Marter said. not clear whether Majority Leader McConnell would schedule it for floor debate and vote.
Trump said in September terminating DACA program, begun by Democratic predecessor Barack Obama, effective in March. Congress has until to pass legislation to protect 700,000 people from deportation and issue work permits.
Trump said was willing to make deal to help Dreamers but insisted funding for border security, including his long-promised wall along U.S.-Mexican border opposed by Democrats, be included in spending package.
bipartisan deal called for $2.7 billion for border security steps.
Trump wrote on Twitter if government were shut down over amnesty and border security, military would be biggest loser.
Senate Democratic Leader Chuck Schumer countered in speech Senate floor: "If you want to begin long road back prove 're not prejudiced or bigoted, support bipartisan compromise three Democrats and three Republicans put before you." | 0.2 |
President Donald Trump heads to the World Economic Forum in Switzerland this week with a large American delegation in tow.
The U.S. group, which will leave Tuesday and Wednesday, will meet with business and government officials in Davos to discuss issues such as trade, border security and cybersecurity, according to the White House.
"We want the world to invest in America and create jobs for hardworking Americans," White House chief economic advisor Gary Cohn told reporters on Tuesday.
Trump wants to "remind the world that we are open for business," Cohn added.
Aside from giving remarks to those gathered at the forum, Trump plans to attend a reception featuring government officials, Cohn said. He will meet with representatives from European companies that have a footprint in the U.S., the advisor added.
Here's the U.S. group traveling to Switzerland:
Getty Images U.S. President Donald Trump holds a meeting in the Oval Office in Washington, D.C. Treasury Secretary Steven Mnuchin Commerce Secretary Wilbur Ross Labor Secretary Alexander Acosta Transportation Secretary Elaine Chao Energy Secretary Rick Perry Homeland Security Secretary Kirstjen Nielsen U.S. Trade Representative Robert Lighthizer U.S. Agency for International Development Administrator Mark Green National Institutes of Health Director Francis Collins Food and Drug Administration Commissioner Scott Gottlieb Homeland security advisor Tom Bossert White House advisor and Trump son-in-law Jared Kushner White House advisor Chris Liddell Other officials who will go to Switzerland but are not part of the official delegation include White House chief of staff John Kelly, Secretary of State Rex Tillerson, national security advisor H.R. McMaster and Cohn.
The forum in Switzerland focuses largely on finding shared solutions to global economic and security issues. Those themes appear to contrast with many of the protectionist, isolationist policies Trump preached as a candidate.
Trump's campaign for president shunned many of the things broadly preached by his predecessors in the White House, including free trade and a global security presence. He ran on pledges to change or scrap trade deals brokered by past presidents and to look out for the "forgotten men and women" of the United States.
Cohn said Tuesday that Trump believes in "America First," but "not alone."
Earlier, Trump said he would use his time at Davos to urge "people to come and spend their money in the good ol' USA."
WATCH: Trump wants everyone in Davos to understand what he's accomplished show chapters Cohn: Trump wants everyone in Davos to understand what he's accomplished 10 Hours Ago | 01:29 | President Donald Trump heads World Economic Forum Switzerland with large American delegation. U.S. group leave Tuesday Wednesday meet with business government officials Davos discuss trade border security cybersecurity White House. want world invest in America create jobs for Americans," White House chief economic advisor Gary Cohn Trump "remind open for business,". remarks Trump plans attend reception government officials. representatives European companies footprint in U.S.,. U.S. group Switzerland:
Getty Images U.S President Donald Trump holds meeting Oval Office Washington, D.C. Treasury Secretary Steven Mnuchin Commerce Secretary Wilbur Ross Labor Secretary Alexander Acosta Transportation Secretary Elaine Chao Energy Secretary Rick Perry Homeland Security Secretary Kirstjen Nielsen U.S. Trade Representative Robert Lighthizer U.S. Agency International Development Administrator Mark Green National Institutes Health Director Francis Collins Food Drug Administration Commissioner Scott Gottlieb Homeland security advisor Tom Bossert White House advisor Trump son-in-law Jared Kushner White House advisor Chris Liddell officials include White House chief of staff John Kelly Secretary of State Rex Tillerson national security advisor H.R. McMaster Cohn.
forum Switzerland focuses solutions global economic security issues. contrast with protectionist isolationist policies Trump preached. Trump's campaign shunned free trade global security. pledges to change scrap trade deals past presidents look out for "forgotten men women United States.
Cohn Trump believes in "America First," "not alone." Trump use time Davos urge "people to spend money in good' USA." WATCH: Trump wants Davos understand accomplished show chapters Cohn: Trump wants Davos understand 's accomplished 10 Hours Ago| 01:29 | 0.5 |
January 16, 2018 / 4:05 PM / Updated an hour ago U.S. inflation, wage expectations jump: NY Fed survey Reuters Staff 2 Min Read
NEW YORK (Reuters) - U.S. inflation expectations rose in December to the highest level in months as younger and middle-age workers expected higher prices and earnings, according to a Federal Reserve Bank of New York survey published on Tuesday.
The survey of consumer expectations, which the Fed considers among other data as it continues to gradually raise interest rates, showed median one-year ahead expectations jumped to 2.82 percent last month, from 2.61 percent in November, the highest reading since February.
The three-year inflation measure was 2.89 percent, up from 2.78 percent in the previous month, reaching its highest point since April. On both counts the New York Fed said the increase was largely driven by survey respondents younger than 40.
The increases make up some ground after years in which these inflation measures, taken since mid-2013, have generally slipped. The U.S. central bank hiked rates three times last year and aims to do the same in 2018, even while inflation remains below target.
Survey respondents were more optimistic about earnings growth. Median one-year ahead expectations were 2.7 percent, up from 2.6 percent in November. It was the highest level since 2014 thanks to respondents primarily between 40 and 60 years old and those earning between $50,000 and $100,000 annually, the New York Fed said.
The internet-based survey is done by a third party and taps a rotating panel of about 1,200 household heads. Reporting by Jonathan SpicerEditing by Chizu Nomiyama | January 16,2018/ 4:05 PM/ Updated hour ago U.S. inflation, wage expectations jump: NY Fed survey Reuters Staff 2 Min Read
NEW YORK (Reuters U.S. inflation expectations rose December highest younger middle-age workers expected higher prices earnings Federal Reserve Bank New York survey Tuesday. survey consumer expectations Fed raise interest rates, showed median one-year expectations jumped to 2.82 percent last month, from 2.61 percent November highest since February. three-year inflation 2.89 percent up from 2.78 percent highest since April. New York Fed increase driven by respondents younger than 40.
increases ground inflation measures since mid-2013 slipped. U.S. central bank hiked rates three times last year aims same 2018 inflation below target. respondents optimistic earnings growth. Median one-year expectations 2.7 percent, up from 2.6 percent November. highest level since 2014 respondents between 40 and 60 years old earning between $50,000 and $100,000 annually, New York Fed.
internet survey third party panel 1,200 household heads. Reporting Jonathan SpicerEditing Chizu Nomiyama | 0.6 |
Nancy Hungerford (NH): And my next guest has a very close eye on the situation. I'm pleased to say we are now joined by the former U.N. Secretary General Ban Ki-moon. Sir, thank you for taking the time to speak to CNBC at this momentous time for the peninsula. The talks tomorrow taking place between South Korea and North Korea. What are you expecting from them?
Ban Ki-moon: We are encouraged to see that the high level bilateral dialogue between South and North Korea is going to take place tomorrow. So it may be a very small opening of reducing tensions and also addressing the issues of facilitating North Korean athletes to PyeongChang Winter Olympic games. We sincerely hope that after some many years of highest the level of tension this will lead to a larger and more meaningful dialogue between the South and North Korea in addressing a meaningful denuclearization of the Korean peninsula. This time we expect that they should focus on how to make this PyeongChang Winter Olympic games a platform or venue of harmony and consolation and peace among all the athletes and people around the world. As the chairman of the IOC Ethics Commission and as former secretary general who has been working very hard to promote peace and development through sports, I will do my best.
NH: And why do you think these talks are taking place now? Why do you think that North Korea decided to come to the table when they have, given the very strong rhetoric we've heard from Kim Jong Un out last year?
Ban Ki-moon: Last year, NK has been provocating a lot. Nineteen times so far of ballistic missiles including ICBMs and nuclear weapons. Therefore the level of tension has reached so high, may be most serious since the end of the Korean War. Everybody including Korean people and around the world have shown their deepest concerns about this situation. It is absolutely necessary that we must reduce the level of tension and try to engage in dialogue. This is what is going to happen tomorrow. I sincerely hope that this meeting will be successful and also will lead to a much more meaningful dialogue between the two parties of Korea.
NH: U.S. President Donald Trump has also now said he would be willing to speak with Kim Jong Un. Yet we've also heard from Nikki Haley saying that whatever happens in these talks they won't be satisfied until North Korea gives up their nuclear weapons program. Is that likely?
Ban Ki-moon: The end goal and target of this dialogue and the meetings between the parties concerned should be the denuclearization, complete and verifiable and irreversible denuclearization of the Korean peninsula and for that purpose. This is a very good beginning even though it may be a small one.
NH: And do you think President Trump strong rhetoric towards North Korea has played any role in bringing North Korea to this point of speaking with the South?
Ban Ki-moon: There is a tendency to see President Trump's remarks as very provocative rhetoric. But I would like to interpret that in another way. And these are strong words and message of international community giving to North Korea. North Korea is the worst breaker of international community. The United Nations Security Council has taken 10 sanctions resolutions and there is no such member states which has been defiantly challenging the whole international community. Therefore it is important that the whether it is called Trump rhetoric or not we must be united in sending out united and very strong message to North Korea so that they should realize that there is no other way for them to return to international community as a responsible member abiding by all of these basic norms and principles of the United Nations Charter.
NH: Kim Jong Un also celebrates a birthday tomorrow. Normally we think of these occasions as one to have much celebration and fanfare in the country. Do you think his popularity within North Korea has waned in any way given the cost of these economic sanctions on the people in North Korea?
Ban Ki-moon: Everybody can easily imagine at what kind of level of life the people are undergoing under this type of a sanction measures. They are completely isolated. It's important for any leader of North Korea to work for their own people to make their people's life better. It is a very good opportunity for North Korea to engage seriously and genuinely to use this occasion to address all the issues of the Korean peninsula.
NH: You've spoken previously about the need for China to do more in the way of economic sanctions. Since we last spoke a couple of months ago, they have taken additional steps when it comes to reducing the oil that goes to North Korea and other measures. Are you now satisfied with the measures that China has taken or do you still think they could do more?
Ban Ki-moon: I am grateful to President Xi Jinping of China who has publicly stated that China will faithfully implement all the relevant resolutions of the security council adapted by the Security Council. It's important that all the members of the United Nations should show a firm and united message by faithfully implementing all of these resolutions.
NH: And you spoke to me before about this idea that the U.S. should stick to its commitment in the Iran nuclear deal because it sends a positive message even to North Korea who may be saying what is the ultimate end of these measures, do they hold. Is that still your view and how important is this given that the U.S. administration faces another deadline coming up here on whether or not to certify that deal?
Ban Ki-moon: I have been urging through certain channel to U.S. administration that it's important that the JCP or a joint comprehensive plan of action on Iranian issues must be kept and implemented faithfully as had been agreed among the parties. It's important that this should be carried on. Otherwise this may give a very bad message, negative message to even North Korea when North Korea says while trying to agree with the international community on denuclearization of the Korean peninsula. Now how can they have trust on the international community, particularly the United States, when any agreement can be easily broken by the parties who have agreed on that.
NH: Sir thank you very much for your time today. We very much appreciate you speaking to CNBC.
END
About CNBC:
CNBC is the leading global broadcaster of live business and financial news and information, reporting directly from the world's major financial markets via three regional TV networks in Asia, EMEA and the US. CNBC.com is the preeminent financial news source on the web featuring video, real-time market analysis and dynamic financial tools. CNBC serves the world's most powerful audience of CEOs, senior executives, the financial services industry and private investors and is available in more than 409 million homes worldwide. CNBC is a division of NBCUniversal.
For more information, please visit www.cnbc.com | Nancy Hungerford (NH): next guest close eye situation. joined by former U.N. Secretary General Ban Ki-moon. thank for speak to CNBC momentous time peninsula. talks tomorrow between South Korea and North Korea. ?
Ban Ki-moon high level bilateral dialogue between South and North Korea tomorrow. small reducing tensions facilitating North Korean athletes to PyeongChang Winter Olympic games. hope years tension larger meaningful dialogue South North Korea denuclearization Korean peninsula. focus PyeongChang Winter Olympic games harmony consolation peace among athletes world. chairman of IOC Ethics Commission former secretary general promote peace development sports will do best.
why talks now? North Korea come table strong rhetoric from Kim Jong Un last year?
Ban Ki-moon: Last year NK provocating ballistic missiles ICBMs nuclear weapons. tension high serious since Korean War. Korean people world concerns. necessary reduce tension engage dialogue. tomorrow hope meeting successful lead meaningful dialogue parties Korea.
U.S. President Donald Trump willing to speak with Kim Jong Un. Nikki Haley until North Korea gives up nuclear weapons program. ?
Ban Ki-moon: end goal target dialogue denuclearization Korean peninsula. good small .
President Trump strong rhetoric North Korea role North Korea South?
Trump's provocative rhetoric. strong message international community North Korea. Korea worst breaker. United Nations Security Council 10 sanctions resolutions no member states challenging international community. Trump rhetoric strong message North Korea no return international community responsible member norms United Nations Charter.
Kim Jong Un celebrates birthday popularity North Korea waned cost economic sanctions people North Korea?
sanction measures leader North Korea work better. good opportunity North Korea address issues Korean peninsula.
need China more economic sanctions steps reducing oil North Korea. satisfied with measures China more?
-moon grateful President Xi Jinping China implement resolutions security council. important members United Nations show message implementing resolutions.
NH U.S. stick commitment Iran nuclear deal positive message North Korea. U.S. administration faces deadline certify deal?
Ban Ki-moon: urging U.S. administration important JCP comprehensive plan action Iranian issues implemented faithfully. carried Otherwise bad message negative North Korea agree denuclearization Korean peninsula. trust international community United States agreement broken parties .
NH: thank you appreciate CNBC.
CNBC CNBC leading global broadcaster live business financial news reporting major financial markets three regional TV networks Asia EMEA US. CNBC.com preeminent financial news source video real-time market analysis dynamic financial tools. serves audience CEOs senior executives financial services industry private investors available in 409 million homes worldwide. division of NBCUniversal.
information visit www.cnbc.com | 0.7 |
PITTSBURGH, Jan. 30, 2018 /PRNewswire/ -- Mortgage Connect LP , a national mortgage service provider for the nation's largest financial institutions, investors and servicers, announces expansion of its default division through geographic expansion of key operational centers, product diversification, and hiring of industry top default leaders. The Company, which was listed as one of America's entrepreneurial growth leaders by INC. 5000's list of the nation's fastest-growing private companies in 2017, will continue to invest in the Default Sector to be equipped for any market shifts and client demand.
"Our portfolio of comprehensive mortgage solutions now encompasses end-to-end services across the default continuum, including nationwide pre-foreclosure title support, trustee sale guarantee, loss mitigation title services, REO and default title and closing services. Diversifying into these markets, coupled with the addition of a leadership team of highly seasoned industry veterans, will strengthen our ability to provide end-to-end solutions. We are proactive in preparing for market shifts to ensure we continue to provide the optimum consumer experience and first-in-class service, and to continue innovation across the mortgage spectrum," stated Jeff Coury, CEO of Mortgage Connect.
In addition to product diversification, the company has extended its geographic foothold and licensing expansion into Alabama, Arizona, California, Nevada and Washington, which will enable Mortgage Connect to service directly the majority of its origination and default business, while delivering specialized market expertise and a local presence.
In order to execute on this expansion effort, Mortgage Connect has retained several key industry experts. Jay Anderson, who joined the company in September 2017, serves as Senior Vice President of Loss Mitigation Title Services within the Default Services Division. Mr. Anderson has nearly twenty years' experience in managing and driving key initiatives within the loss mitigation and default services segments, most recently with a large nationwide title insurance company.
Alan Chang, Vice President of Default Services, who also joined the company in 2017, oversees Pre-Foreclosure Title and Trustee Sale Guarantee Services. Mr. Chang's expertise within the title insurance industry is paralleled by a keen focus on creating a superior client experience through optimal workflows and technology.
Sheri Yoho, Executive Vice President of Operations at Mortgage Connect, has successfully built the Origination Title Close operations, driving the company's leading performance and growth in the market since joining the company in 2013. Ms. Yoho has previously built a centralized REO Title and Closing Operations team and managed overall REO customer satisfaction, which she will now oversee for the company's REO Title & Close Division.
"We look forward to offering a true end-to-end default title process to serve the needs of lenders and servicers with a streamlined solution that improves efficiency and reduces costs," added Mr. Coury.
About Mortgage Connect LP
Mortgage Connect is a Pittsburgh, PA headquartered national mortgage service provider, serving the Origination, Default, Valuation, and Capital Markets sectors. With additional offices in New York, Texas, California, Colorado, Nevada and Alabama, the company offers customizable solutions to the nation's largest lenders and servicers, including 3 of the top 5 and 15 of the top 20. Through its serve-first culture, Mortgage Connect and its subsidiaries are committed to an unwavering level of communication, education and customer service on each transaction and strive to leave an overwhelmingly positive and lasting impression with their clients and consumers. For more information, visit www.mortgageconnectlp.com .
View original content: http://www.prnewswire.com/news-releases/mortgage-connect-lp-announces-expansion-of-default-division-300590459.html
SOURCE Mortgage Connect LP | PITTSBURGH, Jan.30,2018 /PRNewswire -- Mortgage Connect LP national mortgage service provider for largest financial institutions investors servicers announces expansion default division through geographic expansion key operational centers product diversification hiring industry top default leaders. Company listed one of America's entrepreneurial growth leaders by INC.5000's list nation fastest-growing private companies in 2017, will continue invest in Default Sector for market shifts client demand.
portfolio of comprehensive mortgage solutions encompasses end-to-end services across default continuum, including nationwide pre-foreclosure title support trustee sale guarantee loss mitigation title services REO default title closing services. Diversifying markets addition leadership team of industry veterans, strengthen ability provide end-to-end solutions. proactive for market shifts provide optimum consumer experience first-in-class service continue innovation across mortgage spectrum," stated Jeff Coury, CEO Mortgage Connect.
product diversification company extended geographic foothold licensing expansion into Alabama, Arizona California Nevada Washington, enable Mortgage Connect to service majority origination default business delivering specialized market expertise local presence.
expansion Mortgage Connect retained key industry experts. Jay Anderson 2017 Senior Vice President of Loss Mitigation Title Services Default Services Division. Anderson twenty years' experience in managing key initiatives loss mitigation default services segments with large nationwide title insurance company.
Alan Chang, Vice President of Default Services 2017 oversees Pre-Foreclosure Title and Trustee Sale Guarantee Services. 's expertise title insurance industry focus on superior client experience through optimal workflows technology.
Sheri Yoho, Executive Vice President of Operations Mortgage Connect successfully built Origination Title Close operations, driving company's leading performance growth in market since 2013. Yoho built centralized REO Title and Closing Operations team managed REO customer satisfaction now oversee for company's REO Title& Close Division.
look forward to true end-to-end default title process serve needs lenders servicers with streamlined solution improves efficiency reduces costs," added Mr. Coury.
Mortgage Connect LP
is Pittsburgh, PA headquartered national mortgage service provider, serving Origination, Default, Valuation, Capital Markets sectors. offices in New York Texas California Colorado Nevada Alabama, offers customizable solutions to nation's largest lenders servicers, including 3 of top 5 15 of top 20. serve-first culture Mortgage Connect subsidiaries committed to unwavering communication education customer service each transaction strive to leave positive lasting impression with clients consumers. information visit www.mortgageconnectlp.com .
View original content: http://www.prnewswire.com/news-releases/mortgage-connect-lp-announces-expansion-of-default-division-300590459.html SOURCE Mortgage Connect LP | 0.4 |
Chipmaker Advanced Micro Devices on Wednesday pushed back on a statement from Intel about a recently documented security flaw, saying its chips are mainly not affected.
AMD expects to publish security research on the flaw later on Wednesday but did provide an initial statement of its own:
To be clear, the security research team identified three variants targeting speculative execution. The threat and the response to the three variants differ by microprocessor company, and AMD is not susceptible to all three variants. Due to differences in AMD's architecture, we believe there is a near zero risk to AMD processors at this time.
AMD rose slightly after AMD issued the statement. The stock had fallen after Intel issued its statement earlier.
On Tuesday the Register suggested that the flaw did not impact AMD's chips but instead primarily impacted chips from Intel. But Intel's public statement on Wednesday indicated that the flaw isn't restricted to Intel's CPUs. That said, Intel did indicate it's working with other companies, including AMD, to resolve the issue, and AMD's initial statement shows it is cooperating.
"As we typically do when a potential security issue is identified, AMD has been working across our ecosystem to evaluate and respond to the speculative execution attack identified by a security research team to ensure our users are protected," AMD said.
Intel CEO Brian Krzanich spoke about the incident in a conversation with CNBC's Jon Fortt, saying that Google first informed Intel about the issue and that to Intel's knowledge the flaw had not been exploited. | Advanced Micro Devices statement Intel security flaw chips not affected.
AMD publish research three variants speculative execution differ AMD not susceptible near zero risk .
AMD rose Intel .
suggested flaw impact AMD Intel. Intel's statement flaw AMD .
AMD evaluate respond speculative execution attack Intel CEO Brian Krzanich Google informed Intel flaw not exploited. | 0.9 |
Gold Another tiny digital coin leaps into the top 10 cryptocurrencies Digital currency tron, or TRX, climbed 112 percent Thursday to 20.5 cents, according to CoinMarketCap. That put the digital coin briefly into eighth place by market capitalization. Tron's gains followed a tweet from founder Justin Sun early Thursday that the company "will announce our partnership with a very prestigious public company next week." Tron is repeating a pattern seen in the last few weeks of lesser-known cryptocurrencies surging into the ranks of the largest digital currencies. SHARES Source: Samxmeg
A digital coin worth about a dime a day ago has doubled in price, briefly climbing into eighth place among cryptocurrencies by market capitalization.
Tron climbed 112 percent Thursday to 20.5 cents, according to CoinMarketCap. The website showed that tron's latest gains gave the coin a market cap of $13.5 billion, greater than that of litecoin and just behind that of another coin, stellar. Litecoin had recovered eighth place by midafternoon Thursday.
Tron's gains followed a tweet from founder Justin Sun early Thursday that the company "will announce our partnership with a very prestigious public company next week." Sun tweeted later in the day that the news would come in a live stream event on "January 6th 10 am GMT+8 Beijing time."
Tron 30-days performance
Source: CoinMarketCap
The company is focused on creating a blockchain-based platform for monetizing digital entertainment. Investors listed on its website include some big names in Chinese business today, such as Wei Dai, founder of bike sharing company ofo.
Tron's surge follows a pattern of the last few weeks in which lesser-known cryptocurrencies have dramatically climbed into the ranks of the top 10 coins by market cap. Ripple has soared more than 1,000 percent in the last month into second place. In just the last week, stellar has leaped more than 300 percent, climbing into the top 10 coins and rising as high as sixth place.
"We are seeing the beginnings of renewed speculative fever driven by fears of missing out on the big gains that have recently happened in the crypto space," William Mougayar, organizer of the Token Summit conferences, said in an email.
"Although there were some cryptocurrencies that were under-valued a month ago, and they deserved the run-up, things are getting a little over-heated right now," Mougayar said.
Bitcoin, the largest and most well-known digital currency, has gained 1,300 percent over the last 12 months to near $15,000, according to Coinbase.
Much of the buying in the smaller cryptocurrencies is coming from bitcoin holders. About 79 percent of tron trading volume was in bitcoin , and 19 percent in ethereum , according to CryptoCompare.
It's not clear whether tron takes its name directly from the science fiction movie, but its 10-year projected development timeline on its website has heavy references to "Star Trek." The project is still in the initial "Exodus" stage.
CoinMarketCap data show tron began trading in September at a tenth of a penny. | Gold digital coin leaps top 10 cryptocurrencies tron climbed 112 percent to 20.5 cents CoinMarketCap eighth place. tweet Justin Sun announce partnership public company next week." Tron repeating pattern lesser-known cryptocurrencies largest digital currencies. Source Samxmeg
coin doubled price, climbing eighth place. Tron climbed 112 percent to 20.5 cents CoinMarketCap. tron's gains market cap $13.5 billion, greater than litecoin. Litecoin recovered eighth place. 's tweet founder Justin Sun announce partnership prestigious public company next week." "January 6th time." Tron 30-days performance
CoinMarketCap blockchain platform digital entertainment. Investors include Chinese Wei Dai, founder bike company ofo. Tron's surge lesser-known cryptocurrencies climbed top 10 coins market. Ripple soared 1,000 percent second place. stellar leaped 300 percent climbing top 10 coins sixth place. speculative fever fears of big gains crypto William Mougayar organizer Token Summit. cryptocurrencies under-valued month ago run-up over-heated Mougayar said. Bitcoin largest -known digital currency gained 1,300 percent 12 months near $15,000, Coinbase. smaller cryptocurrencies from bitcoin holders.79 percent tron trading volume bitcoin 19 percent ethereum, CryptoCompare. not tron name from science fiction 10-year development timeline references to "Star Trek." project initial "Exodus" stage. CoinMarketCap data show tron began trading September tenth penny. | 0.8 |
NEW YORK, Jan. 16, 2018 /PRNewswire/ -- Mitsubishi UFJ Financial Group, Inc. (MUFG) today announced that Howard Moseson, 50, has joined the company as Chief Strategy Officer for the Americas, effective immediately.
Moseson, a seasoned business executive with substantial experience in corporate strategy, business management, risk, and wholesale and consumer banking, reports to Chief Financial Officer Johannes (Johs) Worsoe and is based in New York.
In his role, Moseson will lead MUFG Americas strategy development and strategic planning efforts, including management of the annual and triennial strategic planning processes and driving strategic and transformational initiatives as the firm's internal strategy consultant to business and support unit leadership.
"Howard is an outstanding addition to our talented strategy team and will play an instrumental role in leading and integrating our strategic planning processes and driving strategic and transformational initiatives across the firm," said Worsoe.
Prior to joining MUFG, Moseson was the Head of Strategy for Citibank's Global Consumer Banking Operations. Prior to this role, he was the Global Head of Strategy for Citi Commercial Bank. Before joining Citi in 2012, he was a Partner at McKinsey & Company where he led the Middle Market Banking Practice and was a senior member of Investment and Corporate Banking and Risk Practices. Prior to McKinsey, Moseson was an investment banker for 15 years at firms including Chase, CSFB and WestLB.
Moseson holds BA degrees in Math/Computer Science and Philosophy from Emory University and an MBA from the Fuqua School of Business at Duke University.
About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company, bank holding company and intermediate holding company with total assets of $154.9 billion at September 30, 2017. Its main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of September 30, 2017, MUFG Union Bank, N.A. operated 361 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as 18 PurePoint Financial Centers and two international offices. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, private placements, collateralized financings, securities borrowing and lending transactions, and domestic and foreign debt and equities securities transactions. MUFG Americas Holdings Corporation is owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Financial Group, Inc. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., which is one of the world's leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information.
About Mitsubishi UFJ Financial Group and Bank of Tokyo-Mitsubishi UFJ
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups, with total assets of approximately US$2.7 trillion as of 30 September 2017. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with over 2,300 offices across more than 50 countries. The Group has about 150,000 employees and close to 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group's operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan's leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan's largest securities firms. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is Japan's premier bank, with a global network spanning around 50 countries. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. Through close partnerships among our operating companies, the Group aims to "be the world's most trusted financial group", flexibly responding to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. For more information, visit www.mufg.jp/english .
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SOURCE MUFG Americas Holdings Corporation | NEW YORK, Jan.16,2018 /PRNewswire/ -- Mitsubishi UFJ Financial Group, Inc. (MUFG) announced Howard Moseson,50, joined the company as Chief Strategy Officer for the Americas, effective immediately.
Moseson, seasoned business executive with substantial experience in corporate strategy, business management, risk, wholesale and consumer banking, reports to Chief Financial Officer Johannes (Johs) Worsoe based in New York.
role Moseson will lead MUFG Americas strategy development strategic planning efforts, including management of annual and triennial strategic planning processes driving strategic and transformational initiatives as firm's internal strategy consultant to business support unit leadership.
"Howard is outstanding addition to our talented strategy team will play instrumental role in leading integrating strategic planning processes driving strategic transformational initiatives across firm," said Worsoe.
Prior to MUFG, Moseson was Head of Strategy for Citibank's Global Consumer Banking Operations. Prior was Global Head of Strategy for Citi Commercial Bank. Before joining Citi in 2012, Partner at McKinsey& Company led the Middle Market Banking Practice senior member of Investment and Corporate Banking and Risk Practices. Prior to McKinsey, Moseson was investment banker for 15 years at firms including Chase, CSFB WestLB.
Moseson holds BA degrees in Math/Computer Science and Philosophy from Emory University MBA from Fuqua School of Business at Duke University.
About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company, bank holding company intermediate holding company with total assets of $154.9 billion at September 30,2017. Its main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides financial services to individuals small businesses middle-market companies, major corporations. As of September 30,2017, MUFG Union Bank, N.A. operated 361 branches, primarily retail banking branches in West Coast states, commercial branches in Texas, Illinois, New York Georgia,18 PurePoint Financial Centers two international offices. MUFG Securities Americas Inc. is a registered securities broker-dealer engages in capital markets origination transactions private placements, collateralized financings, securities borrowing lending transactions, domestic and foreign debt and equities securities transactions. MUFG Americas Holdings Corporation owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Financial Group, Inc. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., one of world's leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information.
About Mitsubishi UFJ Financial Group and Bank of Tokyo-Mitsubishi UFJ
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of world's leading financial groups, with total assets of approximately US$2.7 trillion as of 30 September 2017. Headquartered in Tokyo 350 years of history, MUFG is global network with over 2,300 offices across 50 countries. Group has 150,000 employees 300 entities, offering services including commercial banking, trust banking, securities, credit cards consumer finance asset management, leasing. Group's operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan's leading trust bank), Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan's largest securities firms. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is Japan's premier bank, global network 50 countries. Outside Japan bank offers commercial and investment banking products and services to businesses, governments individuals worldwide. Through close partnerships among companies Group aims to "be world's most trusted financial group", flexibly responding to financial needs customers, serving society, fostering shared sustainable growth for better world. MUFG's shares trade on Tokyo, Nagoya, New York (NYSE: MTU) stock exchanges. For more information, visit www.mufg.jp/english .
View original content with multimedia: http://www.prnewswire.com/news-releases/howard-moseson-joins-mufg-as-chief-strategy-officer-for-the-americas-300583262.html SOURCE MUFG Americas Holdings Corporation | 0.1 |
MILAN, Jan 18 (Reuters) - Italian shoemaker Geox said on Thursday it was set to appoint senior Gucci manager Matteo Mascazzini as its new chief executive from next month, replacing Gregorio Borgo.
Mascazzini, 48, is currently the chief operating officer of Gucci America. He joined the Italian brand which is owned by French luxury goods group Kering back in 2007, arriving from rival Giorgio Armani.
Geox, famous for patenting shoes with breathable soles, reported sales of 884.5 million euros ($1.1 billion) last year, down 1.8 percent compared with 2016, hit by a downsizing of its network of shops.
The company closed 66 shops in net terms in 2017 as it shrinks its presence in Europe to expand in Russia, eastern Europe and China, areas where wholesale revenues grew double-digit.
Geox, headquartered in northeastern Italy, said same-store sales rose 0.5 percent last year after a 1 percent decline in 2016.($1 = 0.8169 euros) (Reporting by Valentina Za; Editing by Adrian Croft)
| MILAN Jan 18 (Reuters- Italian shoemaker Geox said Thursday set to appoint senior Gucci manager Matteo Mascazzini as new chief executive next month, replacing Gregorio Borgo.
Mascazzini,48, is currently chief operating officer Gucci America. joined Italian brand owned by French luxury goods group Kering in 2007, arriving from rival Giorgio Armani.
Geox, famous for patenting shoes with breathable soles, reported sales 884.5 million euros ($1.1 billion) last year, down 1.8 percent compared with 2016, hit by downsizing network shops.
company closed 66 shops net terms in 2017 shrinks presence in Europe to expand Russia, eastern Europe China, wholesale revenues grew double-digit.
Geox headquartered northeastern Italy, said same-store sales rose 0.5 percent last year after 1 percent decline 2016.($1= 0.8169 euros) (Reporting by Valentina Za; Editing by Adrian Croft)
| 0.2 |
STATE OF THE UNION President Donald Trump delivered a reserved and serious tone during his speech at his first State of the Union address. Trump sought to be optimistic, and describe a "New American Moment" characterized by prosperity, rebuilding and cooperation. (CNBC)
* Trump's full prepared remarks from his first SOTU (CNBC)
* How some of Trump's SOTU claims stand up to reality (NBC News)
* Swing voters rate Trump's 'on the plus side of mediocre' (USA Today)
Trump called on Congress to advance a $1.5 trillion plan to "rebuild our crumbling infrastructure." Officials told CNBC at the end of 2017 that the push for infrastructure would likely begin in January, making it the next issue after taxes. (CNBC)
* Trump: Cutting drug prices is a top priority (CNBC)
* Trump touts repeal of individual mandate in Obamacare (CNBC)
* Trump calls for prison reform and links violent crime to undocumented immigration (CNBC)
Rep. Joe Kennedy III delivered a broad rebuke of President Trump's policies last night. The Massachusetts Democrat downplayed the president's effect on the U.S. economy and pushed back on his immigration goals. (CNBC)
* No pivot: Trump's first SOTU address didn't change a thing (CNBC)
* Here are the policy areas where Trump is urging Democrats to work with him (CNBC)
IN THE NEWS TODAY Trump said he would "100 percent" allow the public release of a GOP-drafted memo alleging surveillance abuses by the FBI and Justice Department. Officials have warned that releasing the memo could set a dangerous precedent. (Washington Post)
Trump has been talking to his friends about possibly asking Attorney General Jeff Sessions to prosecute special counsel Robert Mueller, NBC News reports. It's unclear what charges Mueller could possibly face in such a situation.
Hillary Clinton said she should have fired an aide in her 2008 presidential campaign that was accused of sexual harassment. She posted a lengthy statement last night on Facebook (FB) before Trump's State of the Union address. (NY Times)
Larry Nassar, the doctor accused of sexually assaulting more than 150 women and girls, will be confronted again by victims as he faces another sentence. The event could unfold the same as a hearing last week that ended with Nassar getting sentenced to up to 175 years. (AP)
Amazon (AMZN) told employees its new health-care partnership with Berkshire Hathaway and J.P. Morgan will take a "considerable amount of time," and that "nothing is changing" to the company's current health-care offering to employees. (CNBC)
* Cramer: How to play the Amazon-Berkshire-JP Morgan move (CNBC)
* How Jamie Dimon, Jeff Bezos and Warren Buffett got together on health care (CNBC)
H&M has announced it would open far fewer stores in 2018 as it responds to the shift to shopping online. The fashion retailer said it planned a net addition of about 220 stores in 2018, compared with 388 in 2017. (Reuters)
STOCKS TO WATCH Apple (AAPL) was downgraded to "market perform" from "outperform" at BMO Capital, which is considered that a secular change for the worse is in store for the iPhone.
Xerox (XRX) will be absorbed into its joint venture with Japan's Fujifilm, under a new agreement struck between the two companies. The new entity will be known as Fuji Xerox and keep its New York Stock Exchange Listing. Current Xerox shareholders will receive $9.80 per share in cash in the form of a special dividend.
Electronic Arts (EA) reported adjusted quarterly profit of $2.18 per share, missing estimates by a penny, with the videogame publisher's revenue also slightly below estimates. However, the company also gave stronger than expected guidance for the current quarter, with the launch of its "UFC 3" game set for later this week.
Foot Locker (FL) was upgraded to "outperform" from "perform" at Oppenheimer, which cites a cheap valuation for the athletic footwear and apparel retailer's shares and the likelihood of increased sales momentum from new Nike (NKE) offerings.
Advanced Micro Devices (AMD) beat estimates by 3 cents with adjusted quarterly profit of 8 cents per share. The chip maker's revenue also topped forecasts, as did its current quarter guidance.
Align Technology (ALGN) reported adjusted quarterly profit of $1.19 per share, well above the 96 cent consensus estimate, and the maker of Invisalign dental braces also saw revenue beat forecasts
WATERCOOLER Music service Spotify quietly released a new standalone app for Android that's dedicated to quick, easy playlist and station listening. The app, Stations, is free and is also an experiment, according to the company. (The Verge) | STATE OF THE UNION President Donald Trump delivered reserved serious tone first State of Union address. Trump optimistic describe "New American Moment" by prosperity rebuilding cooperation. (CNBC)
Trump's remarks from first SOTU (CNBC)
Trump's SOTU claims stand up to reality (NBC News)
Swing voters rate Trump's 'on plus side of mediocre' (USA Today)
Trump called Congress to advance $1.5 trillion plan to "rebuild crumbling infrastructure." push for infrastructure likely begin in January, next issue after taxes. (CNBC Trump: Cutting drug prices top priority (CNBC)
Trump touts repeal individual mandate in Obamacare (CNBC Trump calls for prison reform links violent crime to undocumented immigration (CNBC)
Rep. Joe Kennedy III rebuke of Trump's policies. Massachusetts Democrat downplayed president's effect on U.S. economy pushed back immigration goals. (CNBC)
No pivot: Trump's first SOTU address didn't change thing (CNBC)
policy areas Trump urging Democrats to work with him (CNBC)
TODAY Trump "100" allow public release of GOP-drafted memo alleging surveillance abuses by FBI and Justice Department. Officials warned memo could set dangerous precedent. (Washington Post)
Trump talking about possibly asking Attorney General Jeff Sessions to prosecute special counsel Robert Mueller, NBC News reports. unclear what charges Mueller could face .
Hillary Clinton said should have fired aide in 2008 presidential campaign accused of sexual harassment. statement Facebook before Trump's address. (NY Times)
Larry Nassar, doctor accused of sexually assaulting 150 women girls, confronted by victims faces another sentence. event could unfold same as hearing last week ended Nassar sentenced to up to 175 years. (AP) Amazon (AMZN told employees new health-care partnership with Berkshire Hathaway J.P. Morgan will take "considerable time," "nothing is changing to company's current health-care offering employees. (CNBC Cramer: play Amazon-Berkshire-JP Morgan move (CNBC)
How Jamie Dimon, Jeff Bezos Warren Buffett together on health care (CNBC)
H&M announced open fewer stores in 2018 responds to shift to shopping online. fashion retailer planned net addition 220 stores in 2018 compared with 388 in 2017. (Reuters STOCKS TO WATCH Apple (AAPL) downgraded to "market perform" from "outperform" at BMO Capital, considered secular change for store for iPhone.
Xerox (XRX) absorbed into joint venture with Japan's Fujifilm under new agreement. new entity known as Fuji Xerox keep New York Stock Exchange Listing. Current Xerox shareholders receive $9.80 per share cash special dividend.
Electronic Arts (EA) reported adjusted quarterly profit of $2.18 per share, missing estimates a penny, videogame publisher's revenue below estimates. company gave stronger guidance for current quarter launch of "UFC 3" game set this week.
Foot Locker (FL) upgraded to "outperform" from "perform" at Oppenheimer, cheap valuation for athletic footwear apparel retailer's shares likelihood increased sales momentum from new Nike (NKE offerings.
Advanced Micro Devices (AMD) beat estimates by 3 cents adjusted quarterly profit of 8 cents per share. chip maker's revenue topped forecasts current quarter guidance.
Align Technology (ALGN) adjusted quarterly profit $1.19 per share, above 96 cent consensus estimate, maker Invisalign dental braces saw revenue beat forecasts
WATERCOOLER Music service Spotify released new standalone app for Android quick playlist station listening. app, Stations free experiment according company. (The Verge) | 0.3 |
Facebook has hired a former White House official as its first Head of Cybersecurity Policy.
The company confirmed Nathaniel Gleicher would join Chief Security Officer Alex Stamos' team. He joined the company this month, according to his LinkedIn profile, from cybersecurity firm Illumio.
The hire was first noted by cybersecurity website Cyberscoop.
Gleicher's hire comes as Facebook struggles to keep a small number of users from posting hate speech and spreading fake news on the site. This week the company bought a start-up called Confirm that authenticates user identities. Last week Facebook said it was overhauling its News Feed in an effort to promote "trusted" news sources.
Facebook has also come under fire for alleged failures to curtail Russian meddling during the 2016 presidential election. The company said in November it would expand its cybersecurity efforts .
Gleicher previously served as the director for cybersecurity policy at the National Security Council and as senior counsel to the Computer Crime and Intellectual Property Section at the Department of Justice. | Facebook hired former White House official first Head of Cybersecurity Policy.
confirmed Nathaniel Gleicher join Chief Security Officer Alex Stamos' team. joined company this month LinkedIn from cybersecurity firm Illumio.
hire first noted by cybersecurity website Cyberscoop.
Gleicher's hire Facebook struggles keep small users from posting hate speech spreading fake news. company bought start-up Confirm authenticates user identities. Facebook overhauling News Feed promote "trusted" news sources.
Facebook under fire for failures to curtail Russian meddling 2016 presidential election. company said November expand cybersecurity efforts .
Gleicher previously served director for cybersecurity policy National Security Council senior counsel Computer Crime and Intellectual Property Section Department of Justice. | 0.5 |
26 PM / Updated 11 minutes ago EMERGING MARKETS-Mexico peso rises on NAFTA hopes Reuters Staff 4 Min Read
(Updates prices) By Bruno Federowski SAO PAULO, Jan 15 (Reuters) - The Mexican peso rose to a more than five-week high on Monday on hopes that U.S. President Donald Trump may soften his stance on the North American Free Trade Agreement (NAFTA) after negotiations hit a bumpy patch last week. Renewed worries that Trump would scrap NAFTA had weighed on the peso last week. The talks between the United States, Mexico and Canada are edging closer to the start of campaigning for Mexico's July 1 presidential election, making a breakthrough more unlikely. However, market participants cited a media report by Axios news site on Sunday that said Trump may be shying away from terminating NAFTA, fearing it would disrupt a U.S. stock market rally and harm farmers and agricultural communities, part of his core constituency. Trump has said he wants the treaty renegotiated to better favor U.S. interests, and that he will scrap NAFTA if this cannot be achieved. Mexico sells around four-fifths of its exports to the United States so it is particularly vulnerable to increased U.S. protectionism. The peso strengthened just over 1 percent, by far the biggest gainer in Latin America. Low trading volumes on Monday due to the U.S. Martin Luther King Jr. Day holiday helped to accentuate currency moves. In a client note, Continuum Economics said that strength in the peso should continue in the first quarter ahead of this year's elections. "At least for a quarter, investors will be gaining a good carry in one of the most liquid currencies in emerging markets. After one quarter, we may see a return to defensive positions as the market dives into Mexican presidential elections," the note said. Key Latin American stock indexes and currencies at 2104 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1209.83 0.14 4.29 MSCI LatAm 3005.28 0.61 5.61 Brazil Bovespa 79752.37 0.51 4.39 Mexico IPC 49410.81 0.56 0.11 Chile IPSA 5745.95 0.22 3.26 Chile IGPA 28911.17 0.28 3.33 Argentina MerVal 33622.84 2.76 11.83 Colombia IGBC 11553.76 -0.6 1.61 Venezuela IBC 1986.42 20.44 -93.73 Currencies daily % YTD % change change Latest Brazil real 3.2152 -0.17 3.05 Mexico peso 18.8425 1.03 4.55 Chile peso 602.4 0.08 2.03 Colombia peso 2859.55 -0.13 4.28 Peru sol 3.21 0.19 0.84 Argentina peso 18.7300 -0.21 -0.69 (interbank) Argentina peso 19.56 -0.10 -1.69 (parallel) (Reporting by Bruno Federowski; Editing by Frances Kerry and Diane Craft) | 26 PM/ Updated 11 minutes ago MARKETS-Mexico peso rises on NAFTA hopes Reuters Staff 4 Min Read
(Updates prices) By Bruno Federowski SAO PAULO, Jan 15 (Reuters)- Mexican peso rose to five-week high Monday on hopes U.S. President Donald Trump may soften stance on North American Free Trade Agreement (NAFTA) after negotiations hit bumpy patch last week. worries Trump would scrap NAFTA weighed peso last week. talks between United States, Mexico Canada closer to start campaigning for Mexico's July 1 presidential election, breakthrough unlikely. market participants cited report Axios Sunday Trump may shying from terminating NAFTA fearing disrupt U.S. stock market rally harm farmers agricultural communities. Trump wants treaty renegotiated favor U.S. interests, will scrap NAFTA if cannot achieved. Mexico sells four-fifths exports to United States vulnerable to U.S. protectionism. peso strengthened over 1 percent, biggest gainer in Latin America. Low trading volumes Monday due to U.S. Martin Luther King Jr. Day holiday accentuate currency moves. client Continuum Economics said strength peso should continue first quarter ahead 's elections. "At for a quarter investors gaining good carry in liquid currencies emerging markets. After one quarter may return to defensive positions market dives Mexican presidential elections,". Key Latin American stock indexes currencies at 2104 GMT: Stock indexes daily% YTD% Latest change change MSCI Emerging Markets 1209.83 0.14 4.29 MSCI LatAm 3005.28 0.61 5.61 Brazil Bovespa 79752.37 0.51 4.39 Mexico IPC 49410.81 0.56 0.11 Chile IPSA 5745.95 0.22 3.26 Chile IGPA 28911.17 0.28 3.33 Argentina MerVal 33622.84 2.76 11.83 Colombia IGBC 11553.76 -0.6 1.61 Venezuela IBC 1986.42 20.44 -93.73 Currencies daily% YTD% change change Latest Brazil real 3.2152 -0.17 3.05 Mexico peso 18.8425 1.03 4.55 Chile peso 602.4 0.08 2.03 Colombia peso 2859.55 -0.13 4.28 Peru sol 3.21 0.19 0.84 Argentina peso 18.7300 -0.21 -0.69 (interbank) Argentina peso 19.56 -0.10 -1.69 (parallel) (Reporting Bruno Federowski; Editing Frances Kerry Diane Craft) | 0.4 |
PHOENIX, Jan. 8, 2018 /PRNewswire/ -- Alpine 4 Technologies' (OTCQB: ALPP) subsidiary, Quality Circuit Assembly (QCA), is proud to announce that it has acquired three new electric vehicle customers in Q4 of 2017. These new customers fit the QCA strategy and possess exciting disruptive technology. With the addition of these customers, QCA feels that it will be better able to meet its revenue growth plans for 2018.
Jeff Hail, QCA's President, stated, "Obtaining new disruptive partners in the highly competitive landscape in which QCA operates is critical to QCA's long term success. These types of new partners can create exponential growth given the success of their new technology. This type of revenue along with growing our strong existing customer base will prove to be a great way to achieve the growth we are expecting in 2018."
New partnerships with exciting new technology serve as the future of any successful contract manufacturer and will be the main driver of QCA's growth.
QCA has provided manufacturing support to their customers around the world since 1988.
About Alpine 4 Technologies Ltd.
Alpine 4 is a publicly held enterprise with business-related endeavors in Automotive Technologies, Electronics Manufacturing, Software and Data Technologies.
Four principles at the core of our business are, "SIDE" Synergy & Innovation Drive Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we are able to aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but increase value for our shareholders.
Contact: Ian Kantrowitz, Director of Investor Relations
iank@alpine4.com
Forward-Looking Statements:
The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
View original content: http://www.prnewswire.com/news-releases/alpine-4s-subsidiary-quality-circuit-assembly-qca-secures-three-new-electric-vehicle-customers-in-q4-of-2017-300578895.html
SOURCE Alpine 4 Technologies Ltd. | PHOENIX Jan.8,2018 /PRNewswire -- Alpine 4 Technologies' subsidiary Quality Circuit Assembly (QCA), acquired three new electric vehicle customers Q4 2017. customers fit QCA strategy possess disruptive technology. addition customers QCA meet revenue growth plans 2018.
Jeff Hail, QCA's President stated "Obtaining new disruptive partners competitive landscape QCA critical QCA's long term success. new partners create exponential growth success new technology. revenue strong customer base achieve growth 2018."
New partnerships new technology serve future of successful contract manufacturer main driver QCA's growth.
QCA manufacturing support since 1988.
Alpine 4 Technologies Ltd Alpine 4 enterprise business in Automotive Technologies Electronics Manufacturing Software Data Technologies.
"SIDE" Synergy Innovation Drive Excellence. synergistic innovation drives excellence. pursue opportunities markets. deliver solutions drive industry standards increase value for shareholders.
Ian Kantrowitz, Director of Investor Relations
iank@alpine4.com
information press release reflects Alpine 4 current assessment financial performance. results may differ due to delays. statements not guarantees of future performance subject to uncertainties factors results differ including risks uncertainties current market volatility factors. Alpine 4 believes assumptions statements reasonable, assumptions could prove inaccurate statements could be incorrect. not place undue reliance on statements. statements release made as date hereof, Alpine 4 disclaims intention obligation to update statements for subsequent events.
View original content: http://www.prnewswire.com/news-releases/alpine-4s-subsidiary-quality-circuit-assembly-qca-secures-three-new-electric-vehicle-customers-in-q4-of-2017-300578895.html SOURCE Alpine 4 Technologies Ltd. | 0.6 |
World News Saudi billionaire Prince Alwaleed bin Talal is released from captivity, probe winds down The billionaire member of Saudi Arabia's royal family, Alwaleed bin Talal has been held for more than 2 months amid a corruption crackdown. The terms of his release were not immediately clear, but a source told Reuters that bin Talal had "arrived home." Published 8 Hours Ago Mary Catherine Wellons | CNBC Saudi Prince Alwaleed bin Talal.
Saudi Arabian billionaire Prince Alwaleed bin Talal was released from detention on Saturday, family sources said, more than two months after he was taken into custody in the kingdom's sweeping crackdown on corruption.
His release came hours after he told Reuters in an interview at Riyadh's opulent Ritz-Carlton hotel that he expected to be cleared of any wrongdoing and be freed within days.
The terms of his release were not immediately clear, and Saudi officials could not immediately be reached for comment.
But the decision to free him, and the release of several other well-known tycoons on Friday, suggested the main part of the corruption probe was winding down after it sent shockwaves through Saudi Arabia's business and political establishment.
"He has arrived home," one source in Prince Alwaleed's family told Reuters.
Prince Alwaleed had been confined at the Ritz-Carlton since early November, along with dozens of other senior officials and businessmen, part of Crown Prince Mohammed bin Salman's plan to reform oil superpower Saudi Arabia and consolidate his power.
Earlier this week the attorney general said 90 detainees had been released after having their charges dropped, while others had traded cash, real estate and other assets for their freedom. Authorities were still holding 95 people, he said. Some are expected to be put on trial.
On Friday, an official Saudi source said several prominent businessmen have reached financial settlements with authorities, including Waleed al-Ibrahim, owner of regional television network MBC, who was released. Terms of his settlement were not revealed.
Saudi authorities have said they expect to raise some $100 billion for the government through such settlements - a huge windfall for the state, which has seen its finances squeezed by low oil prices. Katie Paul | Reuters Maintaining innocence
Allegations against Prince Alwaleed, who is in his early 60s, included money laundering, bribery and extorting officials, a Saudi official told Reuters in early November.
In his first interview since he was taken into custody, conducted hours before his release, Prince Alwaleed told Reuters that he was continuing to maintain his innocence of any corruption in talks with authorities.
He said he expected to keep full control of his global investment firm Kingdom Holding Co without being required to give up assets to the government.
The release of Prince Alwaleed, whose net worth has been estimated by Forbes magazine at $17 billion, is likely to reassure investors in his global business empire as well as in the Saudi economy broadly.
Directly or indirectly through Kingdom Holding, he holds stakes in firms such as Twitter Inc and Citigroup Inc, and has invested in top hotels including the George V in Paris and the Plaza in New York.
He described his confinement as a misunderstanding and said he supports reform efforts by the crown prince.
"There are no charges. There are just some discussions between me and the government," he said in the interview. "I believe we are on the verge of finishing everything within days." | World News Saudi billionaire Prince Alwaleed bin Talal released from captivity, probe winds down billionaire member Saudi Arabia's royal family Alwaleed bin Talal held 2 months amid corruption crackdown. terms release source told Reuters Talal "arrived home." 8 Hours Ago Mary Catherine Wellons| CNBC Saudi Prince Alwaleed bin Talal
Saudi Arabian billionaire Prince Alwaleed bin Talal released from detention Saturday two months after custody in 's crackdown corruption. release hours after told Reuters Riyadh's Ritz-Carlton hotel expected to cleared wrongdoing freed days. terms release not Saudi officials comment. decision free release Friday suggested corruption probe winding shockwaves Saudi Arabia's business political establishment. arrived home," 's told Reuters confined Ritz-Carlton since early November senior officials businessmen part Crown Prince Mohammed bin Salman's plan to reform oil Saudi Arabia consolidate power. attorney general 90 detainees released after charges others traded cash real estate assets. Authorities still holding 95 people Some expected trial. Friday Saudi source prominent businessmen reached financial settlements including Waleed al-Ibrahim owner regional television network MBC released. Terms settlement not. Saudi authorities expect to raise $100 billion settlements- windfall state finances by low oil prices. Katie Paul| Reuters Maintaining innocence
Allegations against Prince Alwaleed early 60s included money laundering bribery extorting officials, Saudi official told Reuters. first interview before release Prince Alwaleed maintain innocence corruption expected keep control investment Kingdom Holding Co without give assets government. release Alwaleed net worth Forbes $17 billion likely reassure investors global business Saudi economy holds stakes Twitter Citigroup invested top hotels George V Paris Plaza New York confinement supports reform efforts crown prince. no charges discussions government," verge of finishing days." | 0.7 |
STERLING HEIGHTS, Mich., Jan. 23, 2018 /PRNewswire/ -- Key Safety Systems (KSS), a global leader in mobility safety headquartered in Michigan, USA, is pleased to announce that the United States of America Federal Trade Commission ("FTC") has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), with respect to KSS' pending acquisition of Takata.
The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions. As previously announced, KSS expects the transaction to be completed within the first quarter of 2018.
About KSS
Key Safety Systems (KSS) is a global leader in mobility safety through the system integration and performance of safety-critical components to the automotive and non-automotive markets serving the active safety, passive safety and specialty product sectors. Through highly specialized design, development, and manufacturing, KSS' technology is featured in more than 300 vehicle models produced by over 60 well-diversified customers worldwide. Since commencing business as a United States start-up, serving Detroit automakers in 1916, KSS continues today with an entrepreneurial and pioneering spirit. KSS is headquartered in Sterling Heights, Michigan, with a global network of more than 13,000 employees in 34 sales, engineering, and manufacturing facilities. The company has 5 main technical centers located in the key regions of the Americas, Europe and Asia. It is a wholly owned subsidiary of Ningbo Joyson Electronic Corp. (SHA: 600699) ("Joyson Electronics").
For further information about Key Safety Systems see: http://www.keysafetyinc.com .
CONTACT: Jean-luc Blancou - KSS
Blancoj2@keysafetyinc.com
View original content: http://www.prnewswire.com/news-releases/kss-granted-early-termination-of-hart-scott-rodino-waiting-period-for-its-proposed-acquisition-of-takata-300586710.html
SOURCE Key Safety Systems | STERLING HEIGHTS Mich., Jan.23,2018 /PRNewswire Key Safety Systems (KSS), global leader mobility safety Michigan announce United Federal Trade Commission early termination period Hart-Scott-Rodino Antitrust Improvements Act 1976 KSS' acquisition Takata.
early termination HSR satisfies conditions acquisition subject conditions. KSS expects transaction first quarter 2018.
KSS
global leader mobility safety integration performance safety-critical components automotive non-automotive markets active safety passive safety specialty product sectors specialized design development manufacturing KSS' technology in 300 vehicle models 60 customers. entrepreneurial spirit. Sterling Heights Michigan 13,000 employees 34 sales engineering manufacturing facilities.5 technical centers Americas Europe Asia. subsidiary of Ningbo Joyson Electronic Corp. Electronics").
information Key Systems http://www.keysafetyinc.com CONTACT: Jean-luc Blancou- KSS
Blancoj2@keysafetyinc.com
View original content: http://www.prnewswire.com/news-releases/kss-granted-early-termination-of-hart-scott-rodino-waiting-period-for-its-proposed-acquisition-of-takata-300586710.html SOURCE Key Safety Systems | 0.8 |
(Adds details, analyst comments, updates markets)
Producer price index dips 0.1 percent in December
* PPI rises 2.6 percent on year-on-year basis
* Core PPI edges up 0.1 percent; up 2.3 percent year-on-year
* Weekly jobless claims increase 11,000
By Lucia Mutikani
WASHINGTON, Jan 11 (Reuters) - U.S. producer prices fell for the first time in nearly 1-1/2 years in December amid declining costs for services, which could temper expectations that inflation will accelerate in 2018.
Other data on Thursday showed initial claims for unemployment benefits increasing for the fourth straight week to more than a three-month high. That probably does not signal weakness in the labor market as the number of Americans receiving jobless benefits is at levels last seen in 1973.
Bitter cold and snow in parts of the country likely kept some workers at home, accounting for last week's jump in jobless claims.
Weak wholesale prices could stoke fears that the causes of weak inflation will become more persistent and prompt the Federal Reserve to be more cautious about raising interest rates this year.
"Factories aren't producing as much inflation, which is sure to bedevil the doves at the Fed who are worried about too low inflation," said Chris Rupkey, chief economist at MUFG in New York. "Today's data strike at the heart of the argument over whether Fed officials should let the economy run hot for a while longer with a shallower path of rate hikes."
The U.S. central bank is forecasting three rate hikes for 2018. It raised rates three times last year.
The Labor Department said its producer price index for final demand slipped 0.1 percent last month. That was the first drop in the PPI since August 2016 and followed two straight monthly increases of 0.4 percent.
In the 12 months through December, the PPI rose 2.6 percent after accelerating 3.1 percent in November. Economists polled by Reuters had forecast the PPI rising 0.2 percent last month and increasing 3.0 percent from a year ago.
A key gauge of underlying producer price pressures that excludes food, energy and trade services edged up 0.1 percent last month. The so-called core PPI increased 0.4 percent in November. It rose 2.3 percent in the 12 months through December after increasing 2.4 percent in November.
The PPI data came on the heels of a report on Wednesday showing a sharp moderation in import prices in December. While the correlation between those two reports and the consumer price index is weak, they underscore the challenge for the Fed to achieve its 2 percent inflation target.
Economists are hoping that a tightening labor market and recent weakness in the dollar will boost price pressures this year. The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, has undershot its target since May 2012.
The dollar fell against a basket of currencies on the wholesale inflation data and expectations that the European Central Bank was preparing to reduce its monetary stimulus program.
Prices of U.S. Treasuries fell, while stocks on Wall Street rose broadly.
SOLID LABOR MARKET
The price of services fell 0.2 percent in December after nine straight monthly rises. The decline reflected a 10.7 percent drop in margins for automotive fuels and lubricants retailing.
Wholesale food prices recorded their biggest drop since May, while energy prices were unchanged. The cost of healthcare services increased 0.2 percent last month after being unchanged in November. Those costs feed into the core PCE price index.
In a second report on Thursday, the Labor Department said initial September. Economists had
A large part of the country faced rose by
Claims have risen since mid-December, though the data tend to be volatile during year-end holidays.
"We advise against extrapolating unless the rise is sustained in coming weeks," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.
The number of people receiving benefits after an initial week of aid dropped 35,000 to 1.87 million in the week ended Dec. 30, the lowest level since December 1973. (Reporting by Lucia Mutikani; Editing by Paul Simao) | analyst comments Producer price index dips 0.1 percent December
PPI rises 2.6 percent Core PPI 0.1 percent 2.3 percent jobless claims increase 11,000
Lucia Mutikani
WASHINGTON Jan 11 U.S. producer prices fell first December costs services inflation accelerate 2018.
claims unemployment benefits fourth three-month high weakness labor market 1973.
cold snow workers home jump jobless claims.
prices fears inflation Federal Reserve interest rates inflation Fed Chris Rupkey chief economist MUFG 's data Fed economy rate hikes."
U.S. central bank three rate hikes 2018 raised rates three times .
Labor Department producer price index slipped 0.1 percent first drop since August 2016 two monthly increases 0.4 percent.
PPI rose 2.6 percent 3.1 percent November. forecast 0.2 percent increasing 3.0 percent .
price food energy trade services up 0.1 percent core PPI increased 0.4 percent November. rose 2.3 percent 12 December 2.4 percent November.
PPI data report moderation import prices correlation consumer challenge Fed 2 percent inflation target.
Economists labor market weakness dollar boost price pressures Fed's inflation (PCE food energy target since 2012.
dollar fell inflation European Central Bank reduce stimulus U.S. Treasuries fell stocks Wall Street rose .
price services fell 0.2 percent December nine rises 10.7 percent drop automotive food prices drop energy prices unchanged. cost healthcare increased 0.2 percent PCE price index.
report Labor Department country since mid-December volatile -end holidays.
advise extrapolating rise Jim O'Sullivan High Frequency Economics benefits aid dropped 35,000 to 1.87 million Dec. lowest since December 1973. Lucia Mutikani Paul Simao) | 0.9 |
NEW YORK (Reuters) - Verizon Communications Inc said on Wednesday the tax overhaul bill signed into law by U.S. President Donald Trump late last year will result in a one-time reduction in net deferred income tax liabilities of about $16.8 billion.
The reduction will increase earnings for the fourth quarter and year ending Dec. 31, 2017, but will not have any impact on the 2017 statement of cash flows, Verizon said in a filing.
Verizon estimates that the impact of the law to earnings per share for the year ended Dec. 31 is about $4.10.
Analysts and investors had expected that the law, which slashes the corporate tax rate from 35 percent to 21 percent, to boost corporate earnings. Telecom companies stand to benefit because they are primarily domestic businesses.
Verizon also said it expects a separate accounting change implemented on Jan. 1, 2018 to increase pre-tax retained earnings by $4 billion to $4.6 billion.
Reporting by Anjali Athavaley; Editing by Sandra Maler and Lisa Shumaker
| NEW YORK (Reuters- Verizon Communications Inc said Wednesday tax overhaul bill signed law by U.S. President Donald Trump will result in one-time reduction in net deferred income tax liabilities about $16.8 billion.
reduction will increase earnings for fourth quarter and year ending Dec.31,2017, but not impact on 2017 statement cash flows, Verizon filing.
Verizon estimates impact of law to earnings per share for year ended Dec.31 is about $4.10.
Analysts investors expected law slashes corporate tax rate from 35 percent to 21 percent to boost corporate earnings. Telecom companies benefit primarily domestic businesses.
Verizon expects separate accounting change on Jan.1,2018 to increase pre-tax retained earnings by $4 billion to $4.6 billion.
Reporting by Anjali Athavaley; Editing by Sandra Maler and Lisa Shumaker
| 0.2 |
Source: Google Google Cloud CEO Diane Greene.
Google 's growing cloud business is trying to bring artificial intelligence to the masses, not just to the experts.
The move follows a pattern of cloud players attempting to use ready-to-go AI services as a way to lure companies to use more of their services. Google has used AI in several parts of its business , and now the company is looking to make the technology easier for many people to adopt, which could boost Google's cloud effort as a whole.
On Wednesday the company introduced a tool that's designed to simplify the process of deploying AI in business applications. It's called Cloud AutoML, and it's already being used by companies including Disney and Urban Outfitters to make search and shopping on their websites more relevant.
Cloud AutoML is starting with image recognition, allowing customers to drag in images and train their systems to recognize them on Google's cloud.
"Currently, only a handful of businesses in the world have access to the talent and budgets needed to fully appreciate the advancements of ML and AI," Jia Li, head of research and development for Google's cloud AI unit, and Fei-Fei Li, the group's chief scientist, wrote in a blog post. "We believe Cloud AutoML will make AI experts even more productive, advance new fields in AI and help less-skilled engineers build powerful AI systems they previously only dreamed of."
Cloud AutoML Vision can figure out what's inside images that users upload, train a model based on those images, provide analysis of the model, and then start to make sense of new images as they come in, based on what it has learned. The new service joins Google's Cloud Machine Learning Engine and its Cloud Vision application programming interface but unlike those products, the Cloud AutoML portfolio wasn't designed just with developers in mind.
Two months ago, cloud market leader Amazon Web Services introduced Amazon SageMaker for building and launching their own AI models. And last May, Microsoft introduced a service for customizing image recognition models. Google had 12 percent public cloud market share in the fourth quarter, KeyBanc analysts said last week.
Like Amazon and Microsoft, Google also offers developer tools for speech recognition and language translation, although they are not as easy to customize as the new Cloud AutoML tool.
Early results suggest that the new system works better than Google's past methods of image recognition, Jia Li said in a media briefing. The technology was developed through collaboration with multiple other internal AI teams, she said. Jordan Novet Technology Reporter for CNBC.com Related Securities | Source Google Google Cloud CEO Diane Greene.
Google 's growing cloud business trying to bring artificial intelligence to masses, not just experts.
move follows pattern of cloud players attempting to use ready-to-go AI services to lure companies to use more services. Google has used AI in several parts business, and now company is looking to make technology easier for many people to adopt, could boost Google's cloud effort.
On Wednesday company introduced a tool 's to simplify process of deploying AI in business applications. 's called Cloud AutoML, 's already used by companies including Disney and Urban Outfitters to make search and shopping on websites more relevant.
Cloud AutoML is starting with image recognition, allowing customers to drag in images and train systems to recognize them on Google's cloud.
"Currently, only a handful of businesses in have access to talent and budgets needed to appreciate advancements of ML and AI," Jia Li, head of research and development for Google's cloud AI unit, and Fei-Fei Li, group's chief scientist, wrote in a blog post. "We believe Cloud AutoML will make AI experts more productive, advance new fields in AI and help less-skilled engineers build powerful AI systems previously dreamed of."
Cloud AutoML Vision can figure out 's inside images users upload, train a model based on images, provide analysis model, and then start to make sense of new images as come in, based on learned. new service joins Google's Cloud Machine Learning Engine and Cloud Vision application programming interface but Cloud AutoML portfolio wasn't designed just with developers in mind.
Two months ago cloud market leader Amazon Web Services introduced Amazon SageMaker for building launching their own AI models. And last May Microsoft introduced a service for customizing image recognition models. Google had 12 percent public cloud market share in the fourth quarter, KeyBanc analysts said.
Like Amazon and Microsoft, Google also offers developer tools for speech recognition and language translation, are not as easy to customize as new Cloud AutoML tool.
Early results suggest new system works better than Google's past methods image recognition, Jia Li said in media briefing. technology developed through collaboration with multiple other internal AI teams, said. Jordan Novet Technology Reporter for CNBC.com Related Securities | 0.1 |
LOS ANGELES, Jan. 4, 2018 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced that, under its "At the Market" stock offering program ("ATM"), the Company issued an aggregate of 596,448 shares of common stock during the quarter ending December 31, 2017. The shares were issued at a weighted average offering price of $30.44 per share, receiving gross proceeds of approximately $18.2 million and net proceeds of approximately $17.9 million. The Company used the net proceeds of the ATM to fund acquisitions, repay indebtedness and for working capital and other general corporate purposes.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offering of these securities will be made only by means of a prospectus supplement and related base prospectus. Copies of the prospectus supplement and the related base prospectus may be obtained from the Internet site of the Securities and Exchange Commission at http://www.sec.gov .
About Rexford Industrial
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 151 properties with approximately 18.5 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
For additional information, visit www.rexfordindustrial.com .
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2016. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext. 401
investorrelations@rexfordindustrial.com
View original content: http://www.prnewswire.com/news-releases/rexford-industrial-provides-update-on-recent-atm-activity-300577880.html
SOURCE Rexford Industrial Realty, Inc. | LOS ANGELES, Jan.4,2018 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" "Rexford Industrial") (NYSE: REXR), real estate investment trust owning operating industrial properties Southern California infill markets, announced under "At the Market" stock offering program ("ATM"), Company issued aggregate 596,448 shares of common stock during quarter ending December 31,2017. shares issued at weighted average offering price of $30.44 per share, receiving gross proceeds of approximately $18.2 million and net proceeds of approximately $17.9 million. Company used net proceeds ATM to fund acquisitions, repay indebtedness for working capital corporate purposes.
registration statement securities declared effective by Securities and Exchange Commission. press release does not constitute offer to sell or solicitation offer to buy securities, nor will any sale of securities in state or jurisdiction offer solicitation sale unlawful prior to registration or qualification under securities laws. offering securities made only by means prospectus supplement and related base prospectus. Copies prospectus supplement prospectus may obtained from Internet site of Securities and Exchange Commission at http://www.sec.gov Rexford Industrial
Industrial is a real estate investment trust owning operating industrial properties in Southern California infill markets. Company owns 151 properties with approximately 18.5 million rentable square feet manages additional 19 properties with 1.2 million rentable square feet.
For additional information visit www.rexfordindustrial.com .
Forward-Looking Statements
This press release may contain forward-looking statements within federal securities laws, based on current expectations forecasts assumptions involve risks uncertainties could cause outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans strategies, anticipated events trends similar expressions concerning matters not historical facts. some can identify forward-looking statements by use of terminology such "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or negative of these words phrases or similar are predictions of or indicate future events or trends do not relate solely to historical matters. While forward-looking statements reflect Company's good faith beliefs assumptions expectations, are not guarantees of future performance. For further discussion of these factors cause Company's future results to differ, see reports filings by Company with the U.S. Securities and Exchange Commission, including Company's Annual Report on Form 10-K for the year ended December 31,2016. Company disclaims obligation to update or revise any forward-looking statement to reflect changes in assumptions factors, new information data methods future events other changes.
Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext.401
investorrelations@rexfordindustrial.com
View original content: http://www.prnewswire.com/news-releases/rexford-industrial-provides-update-on-recent-atm-activity-300577880.html SOURCE Rexford Industrial Realty, Inc. | 0.3 |
TORONTO, Jan. 5, 2018 /PRNewswire/ - Bank of Montreal ("BMO") (TSX:BMO)(NYSE:BMO) today announced that it will purchase common shares under a specific share repurchase program (the "Program"). BMO will enter into an agreement (the "Agreement") with a third party to repurchase common shares through daily purchases that will take place between January 10, 2018, and February 2, 2018, subject to a maximum of 3,000,000 common shares. The Program will form part of BMO's Normal Course Issuer Bid for up to 15,000,000 common shares (the "NCIB") announced on April 27, 2017.
Pursuant to the terms of the Agreement and subject to the terms of an issuer bid exemption order issued by the Ontario Securities Commission (the "Order"), the third party will purchase BMO's common shares on Canadian markets for the purpose of fulfilling its delivery obligations to BMO under the Agreement. The price that BMO will pay for common shares purchased by it from the third party under such Agreement will be negotiated by BMO and the third party and will be at a discount to the prevailing market price of BMO's common shares on the Canadian markets at the time of the purchase. BMO currently intends to purchase the maximum of 3,000,000 common shares under the Program, however the number of common shares purchased pursuant to the Program may be less than the Program maximum if, among other things, it is not possible to purchase common shares within the price range established prior to commencement of the Program, if trading is suspended, or as a result of market factors. In accordance with the terms of the Order, immediately following the completion of the Program, BMO will issue a news release providing information regarding the purchases made pursuant to the Program including the number of common shares purchased and aggregate purchase price paid.
Pursuant to the terms of the Agreement and the Order, all purchases made by the third party or its agents on the TSX and other Canadian markets pursuant to the Program will be made in accordance with the TSX rules applicable to the NCIB, subject to limited exceptions as provided in the Order. BMO will acquire common shares from the third party pursuant to the Agreement as part of the NCIB and such common shares will be cancelled upon purchase by BMO.
Caution Regarding Forward-Looking Statements
Bank of Montreal's public communications often include written or oral forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities for fiscal 2018 and beyond, our strategies or future actions, our targets, expectations for our financial condition or share price, and the results of or outlook for our operations or for the Canadian, U.S. and international economies.
By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections. We caution readers of this document not to place undue reliance on our forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; weak, volatile or illiquid capital and/or credit markets; interest rate and currency value fluctuations; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; the level of competition in the geographic and business areas in which we operate; changes in laws or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; judicial or regulatory proceedings; the accuracy and completeness of the information we obtain with respect to our customers and counterparties; our ability to execute our strategic plans and to complete and integrate acquisitions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; operational and infrastructure risks; changes to our credit ratings; political conditions, including changes relating to or affecting economic or trade matters; global capital markets activities; the possible effects on our business of war or terrorist activities; outbreaks of disease or illness that affect local, national or international economies; natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply; technological changes; information and cyber security; and our ability to anticipate and effectively manage risks arising from all of the foregoing factors.
We caution that the foregoing list is not exhaustive of all possible factors. Other factors and risks could adversely affect our results. For more information, please see the discussion in the Risks That May Affect Future Results section on page 79, and the sections related to credit and counterparty, market, insurance, liquidity and funding, operational, model, legal and regulatory, business, strategic, environmental and social, and reputation risk, which begin on page 86, of BMO's 2017 Annual MD&A and outline certain key factors and risks that may affect Bank of Montreal's future results. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements. Bank of Montreal does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by the organization or on its behalf, except as required by law. The forward-looking information contained in this document is presented for the purpose of assisting our shareholders in understanding our financial position as at and for the periods ended on the dates presented, as well as our strategic priorities and objectives, and may not be appropriate for other purposes.
Assumptions about the performance of the Canadian and U.S. economies, as well as overall market conditions, and their combined effect on our business, are material factors we cons | TORONTO, Jan.5,2018 /PRNewswire/- Bank of Montreal ("BMO") (TSX:BMO)(NYSE:BMO) will purchase common shares under specific share repurchase program (the "Program"). BMO enter agreement with third party to repurchase common shares through daily purchases between January 10,2018, and February 2,2018, subject maximum 3,000,000 common shares. Program form part of BMO's Normal Course Issuer Bid for up to 15,000,000 common shares (the "NCIB") announced April 27,2017.
Agreement issuer bid exemption order by Ontario Securities Commission "Order"), third party will purchase BMO's common shares on Canadian markets for delivery obligations to BMO. price BMO pay for common shares purchased third party negotiated by BMO and third party at discount to prevailing market price BMO's common shares Canadian time purchase. BMO intends to purchase maximum 3,000,000 common shares under Program, may be less than Program maximum if not possible purchase shares within price range, if trading suspended or result market factors. following completion Program, BMO will issue news release information regarding purchases including number of common shares purchased and aggregate purchase price paid.
all purchases by third party or agents on TSX and Canadian markets Program in accordance with TSX rules applicable NCIB, subject limited exceptions in Order. BMO acquire common shares from third party Agreement part NCIB shares cancelled upon purchase by BMO.
Caution Regarding Forward-Looking Statements
Bank Montreal's public communications include written oral forward-looking statements. Statements included in this document may be in other filings with Canadian securities regulators U.S. Securities and Exchange Commission or other communications. statements made pursuant to "safe harbor" provisions of forward-looking statements under United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. Forward-looking statements may involve not comments objectives priorities for fiscal 2018 beyond, strategies future actions, targets expectations for financial condition share price, results of outlook for operations Canadian, U.S. international economies.
forward-looking statements require assumptions subject to risks uncertainties. significant risk predictions forecasts conclusions projections not accurate assumptions may not be correct actual results may differ from predictions projections. caution readers document not to place undue reliance on forward-looking statements factors could cause future results conditions actions events to differ from targets expectations estimates intentions in forward-looking statements.
future outcomes relate to statements may be influenced by many factors, including economic market conditions in countries operate weak volatile capital credit markets interest rate currency value fluctuations; changes in monetary fiscal economic policy tax legislation interpretation; level competition in business; changes in laws supervisory expectations requirements including capital interest rate liquidity requirements effect changes on funding costs judicial regulatory proceedings accuracy completeness of information customers counterparties ability to execute strategic plans integrate acquisitions regulatory approvals; accounting estimates effect of changes to standards rules operational infrastructure risks changes to credit ratings political conditions economic trade global capital markets activities effects on business of war or terrorist activities outbreaks of disease illness natural disasters disruptions to public infrastructure technological changes information cyber security; ability to anticipate manage risks from all foregoing factors.
list is not exhaustive of all factors. Other factors risks could affect results. For more information see discussion in Risks That May Affect Future Results section on page 79, sections to credit counterparty, market, insurance liquidity funding, operational model legal regulatory business, strategic environmental social reputation risk, page 86, of BMO's 2017 Annual MD&A outline key factors risks affect Bank of Montreal's future results. Investors others should consider these factors risks, other uncertainties potential events, uncertainty of -looking statements. Bank of Montreal does not to update forward-looking statements except as required by law. forward-looking information in document presented for assisting shareholders understanding our financial position periods dates strategic priorities objectives, may not be appropriate for other purposes.
Assumptions about performance Canadian and U.S. economies, market conditions, effect on business, are material factors | 0.4 |
Jan 18 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
Barclays to cut 100 senior investment bank staff
( on.ft.com/2mHbLNd )
Facebook agrees to expand Brexit investigation
( on.ft.com/2mHj1c2 )
Rolls-Royce considers sale of commercial marine unit
( on.ft.com/2mJb5qr )
Overview
Barclays Plc is axing up to 100 senior staff at its investment bank globally, despite posting strong growth in the United Kingdom and stressing its continued commitment to the division.
Facebook Inc has agreed to widen an investigation into alleged Russian interference in the Brexit referendum campaign after pressure from a UK parliamentary committee, which said the social media giant had done only a limited search for evidence.
Rolls-Royce Holdings Plc will consider selling its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as chief executive Warren East launches a new round of cost-cutting in a bid to accelerate his shake-up of the blue-chip engineer. (Compiled by Bengaluru newsroom; Editing by Sandra Maler)
| Jan 18 (Reuters)- top stories Financial Times. Reuters not verified stories does not vouch accuracy.
Headlines
Barclays cut 100 senior investment bank staff
( on.ft.com/2mHbLNd )
Facebook expand Brexit investigation
( on.ft.com/2mHj1c2 )
Rolls-Royce considers sale commercial marine unit
( on.ft.com/2mJb5qr )
Overview
Barclays Plc axing 100 senior staff investment bank globally despite strong growth United Kingdom commitment division.
Facebook Inc widen investigation Russian interference Brexit referendum after pressure UK parliamentary committee social media giant limited search evidence.
Rolls-Royce Holdings Plc consider selling commercial marine business hit by weak demand offshore oil gas markets chief executive Warren East launches new round cost-cutting accelerate shake-up blue-chip engineer. Bengaluru newsroom; Editing Sandra Maler)
| 0.5 |
GREENFIELD, Ind., Jan. 11, 2018 /PRNewswire/ -- Today, Elanco Animal Health, a division of Eli Lilly and Company (NYSE: LLY), named Sarena Lin as senior vice president, North America Operations and Global Strategy, joining Elanco's Leadership Team and reporting to Elanco president, Jeffrey Simmons.
Lin will manage the entirety of the company's U.S. and Canadian food and companion animal businesses. She will also oversee global strategy for the top-tier animal health company, applying her extensive knowledge in corporate development to grow and strengthen Elanco's business.
"I am incredibly pleased Sarena is joining Elanco, bringing her deep expertise growing and leading global multi-billion dollar organizations - spanning consumer package goods, distribution and agriculture - to Elanco to drive our business forward and provide value to our customers," said Jeff Simmons, president, Elanco Animal Health. "I am confident her unique capabilities will enhance our strong North American team and enrich our global growth strategy."
Lin, who has a proven track record leading and growing large, multi-national organizations, most recently oversaw Cargill's global animal feed and nutrition business. She also currently serves on the Board of Directors for animal health and dental distributor, Patterson Companies, and before her time as president at Cargill, she was the global head of strategy and business development there. She was a principal at McKinsey & Company and began her career at consumer package goods giant Proctor & Gamble (P&G). She holds three university degrees with a Bachelor's in Computer Science from Harvard University, a Master's in International Relations from Yale University and a MBA from Yale School of Management.
"Elanco's vision and trajectory within this growing industry are an exciting combination," said Lin. "I am looking forward to bringing my passion for animal health and analysis-based strategy to such an industry thought leader. I feel this is a perfect partnership at an exciting time for Elanco."
Lin will start her new position on January 22 at Elanco's Greenfield, Indiana-based headquarters.
About Elanco
Elanco provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 70 countries around the world. We value innovation, both in scientific research and daily operations, and strive to cultivate a collaborative work environment for more than 6,500 employees worldwide. Together with our customers, we are committed to raising awareness about global food security, and celebrating and supporting the human-animal bond. Founded in 1954, Elanco is a division of Eli Lilly and Company. Our worldwide headquarters and research facilities are located in Greenfield, Indiana. Visit us at Elanco.com and EnoughMovement.com .
View original content with multimedia: http://www.prnewswire.com/news-releases/elanco-announces-addition-of-new-north-america-and-global-strategy-senior-executive-300581501.html
SOURCE Elanco Animal Health | GREENFIELD, Ind., Jan.11,2018 /PRNewswire/ -- Elanco Animal Health division of Eli Lilly and Company (NYSE: LLY), named Sarena Lin senior vice president, North America Operations Global Strategy, Elanco's Leadership Team to Elanco president Jeffrey Simmons.
Lin manage company's U.S. Canadian food companion animal businesses. oversee global strategy for top-tier animal health company knowledge in corporate development grow strengthen Elanco's business.
pleased Sarena joining Elanco deep expertise growing global multi-billion dollar organizations- consumer package goods distribution agriculture- Elanco drive business forward provide value customers," Jeff Simmons, president Elanco Animal Health. confident unique capabilities will enhance North American team enrich global growth strategy."
Lin track record leading large multi-national organizations oversaw Cargill's global animal feed nutrition business. serves Board of Directors animal health dental distributor Patterson Companies, before Cargill global head of strategy business development principal at McKinsey& Company career consumer package goods giant Proctor& Gamble (P&G). three university degrees Bachelor's Computer Science Harvard University Master's in International Relations Yale University MBA Yale School of Management.
"Elanco's vision trajectory industry exciting Lin. looking forward passion for animal health analysis-based strategy industry leader. perfect partnership exciting time for Elanco."
Lin start new position January 22 at Elanco's Greenfield Indiana headquarters.
Elanco
Elanco provides comprehensive products knowledge services improve animal health food-animal production in 70 countries world. value innovation scientific research daily operations cultivate collaborative work environment for 6,500 employees worldwide. with customers committed to awareness global food security human-animal bond. Founded 1954 Elanco division of Eli Lilly and Company. headquarters research facilities Greenfield, Indiana. Visit at Elanco.com EnoughMovement.com .
View original content with multimedia: http://www.prnewswire.com/news-releases/elanco-announces-addition-of-new-north-america-and-global-strategy-senior-executive-300581501.html SOURCE Elanco Animal Health | 0.6 |
January 24, 2018 / 11:15 AM / in 12 minutes BRIEF-TE Connectivity Reports Q1 Loss Per Share Of $0.11 From Continuing Operations Reuters Staff
Jan 24 (Reuters) - TE Connectivity Ltd:
* TE CONNECTIVITY ANNOUNCES RESULTS FOR FIRST QUARTER OF FISCAL YEAR 2018 * SEES Q2 2018 SALES $3.55 BILLION TO $3.65 BILLION * Q1 SALES $3.5 BILLION VERSUS I/B/E/S VIEW $3.38 BILLION * SEES Q2 2018 ADJUSTED EARNINGS PER SHARE $1.33 TO $1.37 * SEES FY 2018 ADJUSTED EARNINGS PER SHARE $5.40 TO $5.50
* SEES FY 2018 EARNINGS PER SHARE $3.61 TO $3.71 FROM CONTINUING OPERATIONS
* SEES Q2 2018 EARNINGS PER SHARE $1.18 TO $1.22 FROM CONTINUING OPERATIONS * Q1 ADJUSTED EARNINGS PER SHARE $1.40 * SEES FY 2018 SALES $14.1 BILLION TO $14.3 BILLION * Q1 LOSS PER SHARE $0.11 FROM CONTINUING OPERATIONS
* Q1 EARNINGS PER SHARE VIEW $1.25 -- THOMSON REUTERS I/B/E/S
* ORDERS, EXCLUDING SUBCOM, WERE $3.5 BILLION IN QUARTER, UP 11 PERCENT ORGANICALLY FROM Q1 OF 2017 Source text for Eikon: Further company coverage: | January 24,2018 11:15 AM 12 minutes -TE Connectivity Reports Q1 Loss $0.11 Operations Reuters Staff
Jan 24 (Reuters)- TE Connectivity Ltd:
ANNOUNCES RESULTS FIRST QUARTER FISCAL YEAR 2018* Q2 2018 SALES $3.55 BILLION $3.65 BILLION Q1 SALES $3.5 BILLION /B/E/S VIEW $3.38 BILLION Q2 2018 EARNINGS $1.33 TO $1.37* 2018 EARNINGS $5.40 $5.50
2018 EARNINGS SHARE $3.61 TO $3.71 CONTINUING OPERATIONS
Q2 2018 EARNINGS SHARE $1.18 TO $1.22 CONTINUING OPERATIONS* Q1 ADJUSTED EARNINGS SHARE $1.40* FY 2018 SALES $14.1 BILLION TO $14.3 BILLION* Q1 LOSS SHARE $0.11 CONTINUING OPERATIONS
Q1 EARNINGS SHARE $1.25 -- THOMSON REUTERS I/B/E/S
ORDERS SUBCOM $3.5 BILLION QUARTER UP 11 PERCENT ORGANICALLY Q1 2017 Source text Eikon: company coverage: | 0.9 |
(Adds analyst forecast for full year 2018 iPhone sales)
Jan 29 (Reuters) - Apple Inc will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down 1.6 percent.
The report added to growing concerns about weak sales of the $999 phone, making investors jittery about the company's financial outlook when it reports first-quarter results on Thursday.
Apple's shares fell to their lowest level in 2018, knocking off $14 billion from the company's market value. The company declined to comment.
Analyst Toni Sacconaghi of Bernstein cut both his second-quarter and full-year forecasts for iPhones but said he did not expect Apple's 2018 profit to fall steeply because of changes to U.S. tax law that will bring the company's rate down to 18 percent.
"Apple earnings should handily beat December quarter expectations, but March guidance could moderately disappoint," UBS analysts said.
The production cut was prompted by slower-than-expected sales in the holiday shopping season in Europe, the United States and China, the Japanese newspaper reported, without citing a source. ( http://s.nikkei.com/2BASQZU )
The iPhone X was the first phone to sport a new design since the launch of the iPhone 6 in 2015 and many expected it to lead to blockbuster sales, dubbed by Wall Street analysts as a "supercycle."
"This was supposed to be the supercycle year and if Apple hasn't been able to drive substantial unit growth this year, then that makes you a little cautious on future iPhone cycles," Atlantic Equities analyst James Cordwell said.
Several analysts have lowered their estimates for iPhone X shipments in the past few weeks, citing the high price of the device and other factors, with at least three downgrading their rating on the stock.
Sacconaghi of Bernstein had originally predicted that Apple would outpace Wall Street expectations of 62 million iPhones by selling 66 million units, but on Monday he cut that figure to 53 million units, a nearly 20-percent cut. He also cut his full year iPhone unit forecast 11 percent to 220 million units.
But he only slightly revised his full-year earnings per share estimate for 2018 to $11.80 from $11.87, citing the positive effects of U.S. tax law changes.
Adding to the concerns, Verizon Communications Inc said last week its postpaid device activations were lower than last year as people were keeping phones longer.
A survey of people planning to buy the iPhone showed that the percentage of them looking to buy the iPhone X has dropped to 37 percent from 43 percent in an earlier survey, UBS analysts wrote in a note on Monday.
The iPhone X, which features an edge-to-edge display and facial recognition technology to unlock the phone, went on sale in November in the United States.
Asian supply chain checks suggest that iPhone X orders have been weakening recently, with first-quarter production likely to be about 20 million units, JP Morgan analysts wrote in a note dated Jan. 24.
A few of Apple's iPhone parts suppliers are based in Asia. Shares of Foxconn, one of Apple's main suppliers and formally known as Hon Hai Precision Industry Co Ltd, fell 0.7 percent on Monday.
Shares of U.S.-listed Apple suppliers such as Micron Technology Inc edged lower following Nikkei's report. (Reporting by Muvija M in Bengaluru and Stephen Nellis in San Francisco; Editing by Saumyadeb Chakrabarty) | analyst forecast year 2018 iPhone sales 29 (Reuters- Apple Inc halve iPhone X production target first three months to 20 million units, Nikkei reported shares down 1.6 percent.
report added concerns weak sales $999 phone investors jittery financial outlook first-quarter .
Apple's shares fell lowest 2018 off $14 billion from market value. declined comment.
Analyst Toni Sacconaghi Bernstein cut second-quarter full-year forecasts not expect Apple's 2018 profit to fall changes U.S. tax law rate down to 18 percent.
"Apple earnings should beat December expectations, March guidance could disappoint," UBS analysts .
production cut prompted by slower-than sales holiday season Europe United States China. http://s.nikkei.com/2BASQZU iPhone X first phone new design since iPhone 6 2015 expected lead blockbuster sales "supercycle."
year if Apple substantial unit growth cautious on future iPhone cycles," Atlantic Equities analyst James Cordwell .
analysts lowered estimates for iPhone X shipments high price factors three rating .
Sacconaghi Bernstein predicted Apple outpace Wall Street expectations 62 million iPhones selling 66 million units cut to 53 million units 20-percent cut. cut full year iPhone unit forecast 11 percent to 220 million units.
revised full-year earnings per share estimate for 2018 to $11.80 from $11.87 positive effects U.S. tax law changes.
Verizon Communications Inc said postpaid device activations lower .
survey people iPhone X dropped to 37 percent from 43 percent, UBS .
iPhone X edge-to-edge display facial recognition technology on sale November United States.
Asian supply chain checks suggest iPhone X orders weakening first-quarter production likely 20 million units, JP Morgan analysts .
few Apple's iPhone parts suppliers Asia. Foxconn Hon Hai Precision fell 0.7 percent .
U.S.-listed Apple suppliers Micron Technology Inc lower following Nikkei's report. (Reporting Muvija M Bengaluru Stephen Nellis San Francisco Editing Saumyadeb Chakrabarty | 0.7 |
New Trump policy could strengthen role of nuclear weapons Published 12 Hours Ago Getty Images Donald Trump
President Donald Trump's administration could pursue development of new nuclear weaponry and explicitly leave open the possibility of nuclear retaliation for major non-nuclear attacks, if a leaked draft policy document becomes reality.
The Pentagon did not comment on the document, which was published by the Huffington Post website and prompted sharp criticism from arms control experts, who voiced concerns it could raise the risks of nuclear war.
The Defense Department said on Friday it did not discuss "pre-decision, draft copies of strategies and reviews."
"The Nuclear Posture Review has not been completed and will ultimately be reviewed and approved by the President and the Secretary of Defense," the Pentagon said in a statement.
One source familiar with the document told Reuters the draft was authentic, but did not say whether it was the same version that will be presented to Trump for approval.
The Republican Trump's predecessor, Democrat Barack Obama , declared his intent to reduce the role of nuclear weapons in his Nuclear Posture Review in 2010, the last time the policy document was crafted.
The Trump administration's draft document, said, however, that Obama-era assumptions of a world where nuclear weapons were less relevant proved incorrect.
"The world is more dangerous, not less," it said.
It more readily embraces the role of nuclear weapons as a deterrent to adversaries, and, as expected, backs a costly modernization of the aging U.S. nuclear arsenal.
The Congressional Budget Office has estimated that modernizing and maintaining the U.S. nuclear arsenal over the next 30 years will cost more than $1.2 trillion.
The document sought to put those costs in perspective, noting that maintenance of the existing stockpile would account for nearly half the projected costs. An effective nuclear deterrent was also less expensive than war, it said. New weapons
The draft document noted that Russia and China were modernizing their nuclear arsenals, while North Korea's nuclear provocations "threaten regional and global peace."
The draft document said the United States, while honoring all treaty commitments, would pursue development of a new nuclear-armed sea-launched cruise missile. It would also modify a small number of existing submarine-launched ballistic missile, or SLBM, warheads to provide a nuclear option with a lower payload.
In what arms control experts said appeared to be a nod to the threat of a devastating cyber attack, perhaps one that could knock down the U.S. power grid, the document also left open the possibility of nuclear retaliation in "extreme circumstances."
"Extreme circumstances could include significant non-nuclear strategic attacks," it said.
Kingston Reif, director for disarmament research at the Arms Control Association advocacy group, said the draft document was a departure from long-standing U.S. policy.
"It expands the scenarios under which the United States might use nuclear weapons and therefore increases the risk of nuclear weapons use," Rief said.
Although it reaffirmed an Obama-era pledge not to use or threaten to use nuclear weapons against non-nuclear weapons states if they joined and adhered to the nuclear Non-Proliferation Treaty, the draft introduced a caveat. The United States reserved the right to alter that assurance, given the evolving threat from non-nuclear technologies.
Michaela Dodge, senior policy analyst at the Heritage Foundation, said the draft document appeared to be intentionally ambiguous about when and how the United States might retaliate, to better deter adversaries.
"If we are explicit about saying (when) we will not retaliate with the strongest weapons we have, we are implicitly telling our adversaries you can plan for these scenarios more freely," Dodge said. | New Trump policy could strengthen role of nuclear weapons Published 12 Hours Ago Getty Images Donald Trump
President Donald Trump's administration could pursue development new nuclear weaponry leave open possibility nuclear retaliation for major non-nuclear attacks, if leaked draft policy document becomes reality.
Pentagon did not comment on document, published by Huffington Post website and prompted criticism from arms control experts, voiced concerns could raise risks of nuclear war.
Defense Department said Friday did not discuss "pre-decision, draft copies strategies reviews."
"The Nuclear Posture Review has not completed and will be reviewed and approved by President and Secretary of Defense," Pentagon said in statement.
One source familiar with document told Reuters draft was authentic, but did not say whether same version presented to Trump for approval.
Republican Trump's predecessor Democrat Barack Obama, declared intent to reduce role of nuclear weapons in his Nuclear Posture Review in 2010, last time policy document crafted.
Trump administration's draft document, said Obama-era assumptions of world nuclear weapons were less relevant proved incorrect.
"The world is more dangerous, not less," it said.
embraces role of nuclear weapons as deterrent to adversaries, and backs costly modernization of aging U.S. nuclear arsenal.
Congressional Budget Office estimated modernizing U.S. nuclear arsenal over next 30 years will cost more than $1.2 trillion.
document sought to costs in perspective noting maintenance of existing stockpile would account for nearly half projected costs. effective nuclear deterrent was less expensive than war, said. New weapons
draft document noted Russia and China were modernizing nuclear arsenals, North Korea's nuclear provocations "threaten regional global peace."
draft document said United States while honoring treaty commitments would pursue development of new nuclear-armed sea-launched cruise missile. would modify small number existing submarine-launched ballistic missile, SLBM warheads to provide nuclear option with lower payload.
In what arms control experts said appeared to be a nod to threat of devastating cyber attack, perhaps could knock down U.S. power grid, document left open possibility of nuclear retaliation in "extreme circumstances."
"Extreme circumstances could include significant non-nuclear strategic attacks," said.
Kingston Reif, director for disarmament research at Arms Control Association advocacy group, said draft document was a departure from long-standing U.S. policy.
"It expands scenarios United States might use nuclear weapons and increases risk of nuclear weapons use," Rief said.
Although it reaffirmed Obama-era pledge not to use or threaten to use nuclear weapons against non-nuclear weapons states if joined adhered to nuclear Non-Proliferation Treaty, draft introduced a caveat. The United States reserved right to alter that assurance, given evolving threat from non-nuclear technologies.
Michaela Dodge, senior policy analyst at Heritage Foundation, said draft document appeared to be intentionally ambiguous about when and how United States might retaliate, to better deter adversaries.
"If we are explicit about saying (when we will not retaliate with strongest weapons, we are implicitly telling adversaries you can plan for these scenarios more freely," Dodge said. | 0.1 |
January 19, 2018 / 7:51 AM / in 2 hours UPDATE 1-UK Stocks-Factors to watch on Jan 19 Reuters Staff 4 Min Read (Adds company news items, futures) Jan 19 (Reuters) - Britain's FTSE 100 futures were up 0.15 percent ahead of the cash market open on Friday. * ESURE: British insurer esure Group Plc said on Friday Stuart Vann, its chief executive since 2012, would step down immediately by mutual consent and its finance head Darren Ogden would take over as interim CEO. * CARPETRIGHT: Britain's biggest floor coverings retailer Carpetright warned on full-year profit on Friday, saying trading in the key post-Christmas period had been significantly behind expectations. * DIGNITY: Crematorium operator Dignity said it would reduce simple funeral prices by about 25 percent to draw back customer after warning on results for 2018. * BRITISH LAND: British Land Company Plc said on Friday it appointed Simon Carter as chief financial officer. * CARILLION LOANS: Five UK banks are facing heavy losses on loans to Carillion , after irreconcilable differences between the company, its lenders and the government pushed the UK construction and services group into liquidation on Monday, sources said. * HSBC SETTLEMENT: HSBC Holdings Plc on Thursday agreed to pay $101.5 million to settle a U.S. criminal probe into the rigging of currency transactions, which has already led the conviction of one of its former bankers. * GKN/MELROSE: A sharp rise in both companies' share prices shows the merit of Melrose's bid for engineer GKN , the turnaround specialist said on Thursday, seeking to win over GKN investors to its hostile 7.4 billion pound ($10.3 billion) offer. * ASTRAZENECA: A focus on fewer diseases, together with cuts in laboratories and staff, has delivered a more than fourfold increase in research productivity at drugmaker AstraZeneca , based on one key measure of success. * MARKS & SPENCER: British retailer Marks & Spencer has recruited a marketing director for its food business as it seeks to get the division back on track after a year of underperformance. * OIL: Oil prices dropped more than 1 percent on Friday as a bounce-back in U.S. production outweighed ongoing declines in crude inventories. * The UK blue chip index closed 0.3 percent lower at 7,700.96 points on Thursday, led lower by utilities and a decline for Associated British Foods after warning that profit at its sugar business would fall more than previously forecast. * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets TODAY'S UK PAPERS > Financial Times > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Radhika Rukmangadhan in Bengaluru) | January 19,2018/ 7:51 AM/ 2 hours UPDATE 1-UK Stocks-Factors watch Jan 19 Reuters Staff 4 Min Read (Adds company news items, futures) Jan 19 (Reuters)- Britain's FTSE 100 futures up 0.15 percent ahead cash market open Friday.* ESURE: British insurer esure Group Plc said Stuart Vann chief executive since 2012, would step down immediately mutual consent finance head Darren Ogden take interim CEO.* CARPETRIGHT: Britain's biggest floor retailer Carpetright warned full-year profit Friday trading key post-Christmas period behind expectations.* DIGNITY: Crematorium operator Dignity reduce simple funeral prices 25 percent to draw back customer after warning results for 2018.* BRITISH LAND: British Land Company Plc appointed Simon Carter chief financial officer.* CARILLION LOANS: Five UK banks facing heavy losses on loans to Carillion, irreconcilable differences company lenders government pushed UK construction and services group into liquidation Monday.* HSBC SETTLEMENT: HSBC Holdings Plc Thursday agreed to pay $101.5 million to settle U.S. criminal probe rigging currency transactions led conviction of former bankers.* GKN/MELROSE: sharp rise in both companies' share prices shows merit Melrose's bid for engineer GKN, turnaround specialist seeking to win over GKN investors hostile 7.4 billion pound ($10.3 billion) offer.* ASTRAZENECA: focus on fewer diseases cuts in laboratories staff fourfold increase in research productivity at drugmaker AstraZeneca, based key measure success.* MARKS& SPENCER: British retailer Marks& Spencer recruited marketing director for food business seeks get division back on track after year underperformance.* OIL: Oil prices dropped more than 1 percent Friday bounce-back in U.S. production outweighed declines in crude inventories.* UK blue chip index closed 0.3 percent lower at 7,700.96 points Thursday, led lower by utilities decline for Associated British Foods warning profit at sugar business would fall more than forecast.* For more factors affecting European stocks, click on: cpurl://apps.cp./cms/?pageId=livemarkets TODAY'S UK PAPERS> Financial Times> Other business headlines Multimedia versions Reuters Top News available for:* 3000 Xtra: visit topnews.session.rservices.com* For Top News: topnews.reuters.com (Reporting by Radhika Rukmangadhan in Bengaluru) | 0.2 |
January 9, 2018 / 9:53 PM / Updated 28 minutes ago Australia shares to extend rally to 6th session; NZ up Reuters Staff 1 Min Read
Jan 10 (Reuters) - Australian shares were set to open higher for a sixth straight session on Wednesday, with robust commodity prices seen lifting material and energy stocks, and as Wall Street extended its new year rally. Wall Street's major indexes gained on continued optimism among investors ahead of quarterly earnings reports. Meanwhile, U.S. crude climbed to three-year highs, boosted by OPEC-led production cuts and expectations that U.S. crude inventories have dropped for an eighth week. The local share price index futures rose 0.4 percent, or 23 points, to 6,111, a 24.8-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.1 to close at a 10-year high on Tuesday. New Zealand's benchmark S&P/NZX 50 index was slightly higher in early trade. (Reporting by Chris Thomas in Bengaluru) | January 9 2018 9:53 PM 28 minutes Australia shares extend rally 6th session; NZ up Reuters Staff 1
Jan 10 (Reuters- Australian shares open higher sixth session Wednesday robust commodity prices lifting material energy stocks Wall Street extended year rally. Wall Street major indexes optimism investors quarterly earnings reports U.S. crude climbed three-year highs boosted OPEC production cuts inventories dropped eighth week. local share price index futures rose 0.4 percent 23 points to 6,111 24.8-point discount S&P/ASX 200 index. benchmark rose 0.1 10-year high Tuesday. New Zealand's benchmark S&P/NZX 50 index higher early trade. Chris Thomas Bengaluru) | 0.8 |
* Sees FY 2018 home deliveries 32,000-32,500 vs FY 2017's 29,394
* Q4 orders at 7,357 homes vs est 6,942
* Q4 profit $1.29/shr vs est $1.48/shr
* Shares reverse course, hit record high (Adds details on results from conf call, updates share price)
Jan 10 (Reuters) - Lennar Corp on Wednesday reported a surprise drop in quarterly profit but said strong economic growth in 2018 would offset concerns about housing demand being hit by cuts to tax relief on mortgages.
Shares of the Miami-based builder rose to a record of $68.
Investors have been concerned that caps on deduction of interest payment on mortgage debt and state and local tax could make housing more expensive and hurt demand in luxury home markets such as California.
Lennar, whose California homes can cost upwards of $1 million, said any impact from the caps was likely to be offset this year by continuing economic and job growth.
"We have carefully studied the specific impacts of the tax law on our typical buyer profile in each of our markets, and we found out that the effect is generally positive at their income levels," Lennar CEO Stuart Miller said.
The new tax law allows interest payment deductions on mortgage debt up to $750,000, down from $1 million. The reform also introduced an annual cap of $10,000 on deduction of state and local tax.
Lennar on Wednesday forecast its fiscal 2018 home deliveries to rise 8.9-10.6 percent and said gross margins for the full year will be in line with last year's levels at 22 percent after having fallen for three years.
LOWER Q4 PROFIT
The company's shares fell in morning trading after reporting a lower-than-expected fourth-quarter profit, citing a transaction that got pushed to the first quarter.
Lennar did not disclose further details on the transaction, but the No. 2 U.S. homebuilder said it would more than make up for the shortfall in the first quarter.
The company's orders rose 11.5 percent, with buyers signing up for 7,357 homes in the quarter ended Nov. 30.
Lennar's orders have climbed for seven straight years as the U.S. housing market recovered from the sub-prime crash of 2007-2008.
The homebuilder, which agreed to buy smaller rival CalAtlantic Group Inc for $5.7 billion in October, said the deal was expected to close on Feb. 12.
The CalAtlantic deal would give it more tools to deal with higher labor and land costs.
Lennar's total revenue rose 12.1 percent to $3.79 billion topping the analysts' estimate of $3.57 billion, according to Thomson Reuters I/B/E/S.
Net income attributable to Lennar fell 1.2 percent to $309.6 million, or $1.29 per share, missing the average estimate of $1.48 per share. (Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak Dasgupta) | Sees FY 2018 home deliveries 32,000-32,500 vs FY 2017's 29,394
Q4 orders at 7,357 homes vs est 6,942
Q4 profit $1.29/shr vs est $1.48/shr
* Shares reverse course, hit record high (Adds details on results from conf call, updates share price)
Jan 10 (Reuters- Lennar Corp Wednesday reported surprise drop in quarterly profit strong economic growth in 2018 would offset concerns about housing demand hit by cuts tax relief on mortgages.
Shares Miami-based builder rose to record $68.
Investors concerned caps on deduction interest payment on mortgage debt state and local tax could make housing expensive hurt demand in luxury home markets such California.
Lennar California homes cost $1 million said impact from caps likely offset this year by economic and job growth.
studied impacts tax law on buyer profile markets found effect positive at income levels," Lennar CEO Stuart Miller said.
new tax law allows interest payment deductions on mortgage debt up to $750,000, down from $1 million. reform introduced annual cap of $10,000 on deduction state and local tax.
Lennar forecast 2018 home deliveries to rise 8.9-10.6 percent gross margins for full year in line with last year's levels at 22 percent fallen for three years.
LOWER Q4 PROFIT
company's shares fell morning trading after reporting lower-than-expected fourth-quarter profit, citing transaction pushed to first quarter.
Lennar not disclose further details transaction, No.2 U.S. homebuilder said would more than make up for shortfall first quarter.
company's orders rose 11.5 percent, buyers signing up for 7,357 homes in quarter ended Nov.30. Lennar's orders climbed for seven years U.S. housing market recovered from sub-prime crash 2007-2008.
homebuilder agreed to buy smaller rival CalAtlantic Group Inc for $5.7 billion October said deal expected to close Feb.12.
CalAtlantic deal give more tools deal higher labor and land costs.
Lennar's total revenue rose 12.1 percent to $3.79 billion topping analysts' estimate $3.57 billion, Thomson Reuters I/B/E/S.
Net income Lennar fell 1.2 percent to $309.6 million, $1.29 per share, missing average estimate $1.48 per share. (Reporting by Ankit Ajmera Bengaluru; Editing Saumyadeb Chakrabarty Shounak Dasgupta) | 0.3 |
BLOOMFIELD HILLS, Mich., Jan. 30, 2018 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.34 per share for the fourth quarter of 2017.
Penske Automotive Group President Robert H. Kurnick, Jr., said, "I am pleased to announce that our Board of Directors has increased the dividend for PAG's shareholders for the 27 th consecutive quarter. The increase in the dividend reflects our commitment to increasing returns for shareholders and reinforces the continued confidence we have in the strength of the company's business model and cash flow."
The dividend is payable on March 1, 2018, to shareholders of record on February 12, 2018.
Caution Concerning Forward Looking Statements
Statements in this press release may involve regarding Penske Automotive Group, Inc.'s future. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates and foreign currency exchange rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters, recalls or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control. These should be evaluated together with additional information about Penske Automotive's business, markets, conditions and other uncertainties, which could affect Penske Automotive's future performance. These risks and uncertainties are addressed in Penske Automotive's Form 10-K for the year ended December 31, 2016, and its other filings with the Securities and Exchange Commission ("SEC"). This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 26,000 people worldwide, is a member of the Fortune 500, Russell 2000, and was named as one of the World's Most Admired Companies by Fortune. For additional information visit the company's website at www.penskeautomotive.com .
Find a vehicle: http://www.penskecars.com
Engage Penske Automotive: | BLOOMFIELD HILLS, Mich., Jan.30,2018 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), international transportation services company announced Board of Directors approved increase in cash dividend to $0.34 per share fourth quarter 2017.
Penske Automotive Group President Robert H. Kurnick, Jr., said "I announce Board of Directors increased dividend for PAG's shareholders for 27 th quarter. increase dividend reflects commitment to increasing returns shareholders reinforces confidence in strength company's business model and cash flow."
dividend payable March 1,2018, to shareholders record February 12,2018.
Caution Forward Statements
Statements press release may involve Penske Automotive Group, Inc.'s future. Actual results may vary because of risks and uncertainties difficult to predict. risks uncertainties include: economic conditions conditions credit markets changes in interest rates foreign currency exchange rates, adverse conditions manufacturer impact vehicle parts supply chain due to natural disasters recalls disruptions supply changes consumer credit availability outcome legal administrative matters, factors management limited control. should be evaluated with additional information about Penske Automotive's business markets conditions uncertainties, could affect Penske Automotive's future performance. risks uncertainties addressed in Penske Automotive's Form 10-K for year December 31,2016, other filings with Securities and Exchange Commission ("SEC"). press release speaks as of date, Penske Automotive disclaims duty to update information .
About Penske Automotive
Penske Automotive Group, Inc., (NYSE PAG headquartered in Bloomfield Hills, Michigan, international transportation services company operates automotive commercial truck dealerships in United States, Canada Western Europe, distributes commercial vehicles diesel engines gas engines power systems parts and services in Australia New Zealand. PAG employs 26,000 people worldwide member Fortune 500 Russell 2000, World's Most Admired Companies by Fortune. additional information visit 's website www.penskeautomotive.com .
Find a vehicle: http://www.penskecars.com Engage Penske Automotive: | 0.4 |
SHANGHAI (Reuters) - China will seek new sources of residential land supply and the government will gradually withdraw from being the sole provider of these plots, the state news agency Xinhua reported.
Authorities will work on plans to let non-real estate companies build residential housing on land for which they have use rights, it Quote: d Minister of Land and Resources Jiang Daming as saying at a conference.
The government will also allow rental housing on rural land to increase rental options, Jiang said. Xinhua did not give further details.
In August, the land ministry said China would launch pilot programs in 13 major cities, including Beijing and Shanghai, to build rental housing projects in rural areas as part of efforts to ease a housing supply shortage.
Chinese land is divided into urban and rural land regimes, granting ownership rights over urban land to the state while rural land is owned collectively and cannot be bought and sold freely.
The move to boost rental supply comes as the government is trying to limit bubbles in its hottest markets where an increasing number of people are being priced out, raising concerns for policymakers who prize stability.
Reporting by John Ruwitch; Editing by Shri Navaratnam
| SHANGHAI (Reuters China seek new sources residential land supply government withdraw from sole provider, Xinhua reported.
Authorities work on plans to let non-real estate companies build residential housing on land for use rights, Minister of Land and Resources Jiang Daming .
government allow rental housing on rural land increase rental options, Jiang. Xinhua details.
August land ministry said China launch pilot programs in 13 major cities including Beijing Shanghai build rental housing projects in rural areas ease housing supply shortage.
Chinese land divided into urban and rural land regimes granting ownership rights over urban land rural land owned collectively cannot be bought sold freely.
move to boost rental supply as government limit bubbles in markets people priced out, raising concerns for policymakers stability.
Reporting by John Ruwitch Editing Shri Navaratnam
| 0.6 |
* Sees 2018 margins at 70-71.5 pct, down from 71.9 pct in 2017
* Expects 2018 operating expenses to grow 16-18 pct
* Shares down 3 pct after the bell
* 4th-qtr profit beats estimate (Adds profit margins forecast from earnings call, analyst comment; updates share price)
Jan 25 (Reuters) - Intuitive Surgical Inc said on Thursday it would continue to spend heavily on research and development in 2018, seeking to fend off competition and maintain its dominance in the surgical robotic systems market.
Company executives also forecast profit margins for 2018 below 2017 levels on a call with analysts after Intuitive reported better-than-expected earnings for the fourth quarter.
Sunnyvale, California-based Intuitive's shares, which hit a record high earlier in the day, fell 3 percent in after-hours trading.
Excluding a $318 million tax expense, Intuitive reported earnings of $2.54 per share. The result exceeded analysts' average estimate by 30 cents, according to Thomson Reuters I/B/E/S.
But investors, who sent the company's stock up 73 percent last year and 23 percent in 2018, may have been expecting a bigger earnings outperformance, said Brandon Henry, an analyst at RBC Capital Markets.
Intuitive has enjoyed a near monopoly in the market for robots used in abdominal surgery since launching its flagship device called da Vinci in 2000.
But the company has ramped up spending on product development in recent months to remain ahead of competition.
The FDA approved Transenterix Inc's surgical robot for abdominal surgery in October. The news weighed on Intuitive's stock price even though the device was not expected to compete directly with da Vinci.
Intuitive said operating expenses rose 16.6 percent year-over-year to $306.3 million in the fourth quarter ended Dec. 31.
Operating expenses this year will rise 16 to 18 percent above 2017 levels, as the company continues to invest in emerging markets and new technology including computer-assisted surgery, executives said. Analysts said the expense forecast was slightly higher than expected.
Intuitive expects a 2018 gross profit margin of 70 percent to 71.5 percent of revenue, lower than the 71.9 percent it recorded in 2017.
"They don't have big deals on the horizon, and they should be investing internally," said RBC's Henry.
The higher spending comes amid strong demand for Intuitive's surgical robots.
Intuitive shipped 216 da Vinci systems in the quarter, compared with 163 in the prior-year period.
The number of surgical procedures using its products rose about 17 percent in the fourth quarter. The company expects the number of procedures to rise 11-15 percent in 2018.
Reflecting the tax expense, Intuitive reported a net loss of $38.8 million in the quarter, compared with a profit of $204 million a year earlier.
Total revenue rose 17.9 percent to $892.4 million. (Reporting by Manas Mishra in Bengaluru; editing by Sai Sachin Ravikumar) | 2018 margins at 70-71.5 pct, down from 71.9 pct 2017
Expects 2018 operating expenses grow 16-18 pct
Shares down 3 pct after bell
4th-qtr profit beats estimate (Adds profit margins forecast from earnings call, analyst comment; updates share price)
Jan 25 (Reuters Intuitive Surgical Inc Thursday continue spend on research development 2018 fend off competition maintain dominance in surgical robotic systems market.
forecast profit margins 2018 below 2017 levels after better-than-expected earnings fourth quarter.
Sunnyvale California Intuitive's shares fell 3 percent after-hours .
Excluding $318 million tax expense reported earnings $2.54 per share. result exceeded analysts' average estimate 30 cents Thomson Reuters investors sent 's stock up 73 percent last year 23 percent in 2018 may expecting bigger earnings outperformance, Brandon Henry analyst RBC Capital Markets.
Intuitive monopoly robots abdominal surgery since da Vinci 2000.
ramped product development ahead of competition.
FDA approved Transenterix Inc's surgical robot for abdominal surgery October. Intuitive's stock price not expected compete with da Vinci.
operating expenses rose 16.6 percent year-over-year to $306.3 million fourth quarter ended Dec.31.
expenses this year rise 16 to 18 percent above 2017 levels invest in emerging markets new technology including computer-assisted surgery,. expense forecast slightly higher than expected.
Intuitive expects 2018 profit 70 percent to 71.5 percent revenue, lower than 71.9 percent 2017.
big deals should investing internally," RBC's Henry.
higher spending amid demand for Intuitive's surgical robots.
shipped 216 da Vinci systems compared 163 prior-year .
surgical procedures rose 17 percent fourth quarter expects rise 11-15 percent 2018.
expense Intuitive net loss $38.8 million, compared with profit $204 million earlier.
revenue rose 17.9 percent to $892.4 million. (Reporting Manas Mishra Bengaluru; editing Sai Sachin Ravikumar | 0.7 |
supported@
* U.S. crude, gasoline inventories climb -API
* Traders take put options to sell crude
* But production cuts, strong economy prevent bigger falls (Adds Novak price comment, updates prices)
SINGAPORE, Jan 24 (Reuters) - Oil prices fell on Wednesday, weighed by data showing an increase in U.S. crude oil and gasoline inventories.
Brent crude futures were at $69.79 a barrel at 0749 GMT, down 17 cents from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $64.45 a barrel, down 2 cents from their last settlement.
Prices were pressured by U.S. data showing an increase in crude and gasoline stocks.
The American Petroleum Institute said on Tuesday crude inventories rose by 4.8 million barrels in the week to Jan. 19 to 416.2 million, after nine weeks of drawdowns.
Gasoline stocks climbed by 4.1 million barrels, while refinery crude runs fell by 420,000 barrels per day.
In Asia, oversupply of gasoline has pulled down refinery profits their lowest level since 2015.
Amid these indicators, traders are taking measures to protect themselves from a potential fall in crude prices.
Trading data shows open interest for Brent put options to sell at $70, $69 and $68 per barrel has surged since the middle of last week on the Intercontinental Exchange (ICE).
"The options market shows increased demand for downside protection. This makes sense considering how one-sided (to the upside) the speculative bets have become," said Ole Hansen, head of commodity strategy at Saxo Bank.
There is now far more demand for options to sell Brent than there is for call options, which are the right to buy Brent at a certain price.
Sukrit Vijayakar energy consultancy Trifecta said the rising options to sell were a result of huge amounts of long positions that have been built up over the past months of rising prices.
"We still have...nine long barrels for every short barrel, so a reversal should be interesting to watch," he said.
STILL STRONG SUPPORT
Despite this, traders said oil would unlikely tumble far as markets remain supported by strong economic growth and by supply restrictions led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia.
Russian Energy Minister Alexander Novak said on Wednesday that an average Brent price of around $60 was a reasonable forecast for this year, Interfax news agency reported.
In the latest sign of healthy economic growth, Japanese manufacturing activity expanded at the fastest pace in almost four years in January, a survey showed on Wednesday.
Economic growth is translating into oil demand growth and comes at a time that OPEC and Russia lead production cuts aimed at tightening the market. The deal to withhold output started in January last year and is currently set to last through 2018.
Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore said a "beaming economic forecast along with stout compliance from OPEC (to withhold production) is providing convincing support."
(Reporting by Henning Gloystein; Editing by Joseph Radford) | supported@
U.S. crude, gasoline inventories climb -API
Traders take options to sell crude
production cuts, strong economy prevent bigger falls (Adds Novak price comment, updates prices)
SINGAPORE Jan 24 (Reuters- Oil prices fell Wednesday by increase U.S. crude oil gasoline inventories.
Brent crude futures at $69.79 a barrel 0749 GMT down 17 cents from last .
U.S. West Texas Intermediate (WTI) crude futures at $64.45 a barrel, down 2 cents from last settlement.
Prices pressured by U.S. data increase crude gasoline stocks.
American Petroleum Institute Tuesday crude inventories rose by 4.8 million barrels to Jan.19 to 416.2 million after nine weeks drawdowns.
Gasoline stocks climbed by 4.1 million barrels, refinery crude runs fell by 420,000 barrels per day.
Asia oversupply gasoline pulled down refinery profits lowest level since 2015.
traders taking measures to protect from potential fall crude prices.
data interest for Brent options to sell at $70, $69 $68 per barrel surged since last week Intercontinental Exchange (ICE).
options market shows increased demand for downside protection. one-sided upside speculative bets said Ole Hansen head commodity strategy Saxo Bank.
more demand for options to sell Brent than for call options right to buy Brent at certain price.
Sukrit Vijayakar energy consultancy Trifecta rising options sell result of long positions .
have...nine long barrels for every short barrel, reversal should be interesting .
STRONG SUPPORT
traders said oil would unlikely tumble markets supported by strong economic growth supply restrictions led by Organization of Petroleum Exporting Countries (OPEC) and Russia.
Russian Energy Minister Alexander Novak Wednesday average Brent price $60 reasonable forecast this year, Interfax news reported.
latest sign healthy economic growth, Japanese manufacturing activity expanded fastest in four years January, survey showed .
Economic growth translating into oil demand growth OPEC Russia lead production cuts market. deal to withhold output started January last set last through 2018.
Stephen Innes head trading Asia-Pacific futures brokerage Oanda Singapore said "beaming economic forecast compliance from OPEC (to withhold production convincing support."
(Reporting by Henning Gloystein; Editing Joseph Radford) | 0.5 |
President Donald Trump's first State of the Union speech touted higher 401(k) balances bolstered by a soaring stock market and tax cuts intended to put more money in your wallet.
Yet the effects on your savings and income may be temporary, experts say. And what was not addressed with regard to retirement savings and tax cuts could have a more meaningful impact on your bottom line.
The speech was a "victory lap" for Trump, who is just coming off passage of the Tax Cuts and Jobs Act, according to Scott Greenberg, senior analyst at the Tax Foundation, a non-profit tax policy organization.
show chapters President Trump's 1st State of the Union 15 Hours Ago | 20:34 "The stock market has smashed one record after another, gaining $8 trillion in value," Trump said in his speech. "That is great news for Americans' 401(k), retirement, pension, and college savings accounts."
But here's what you need to keep in mind before taking your own victory lap to celebrate.
Real effects of tax reform still uncertain The Tax Cuts and Jobs Act moved through Congress swiftly, but it will take more time to see the legislation's true effects.
"The idea that the tax bill will have a positive economic effect is probably correct," Greenberg said. "That we're already seeing a large economic effect from the tax bill at the very least is hard to verify."
Individuals should see more money in their paychecks starting this month, as less in federal taxes is withheld.
And while roughly 3 million individuals have received bonuses tied to the tax cuts, "it's a weird argument to claim that the bonuses are proof that the tax bill is working," Greenberg said.
That is because, in theory, the tax bill will work by increasing companies' ability to invest, which in turn leads to higher productivity and then higher wages. But it's too early to see those effects.
"That's something you wouldn't expect to see immediately," Greenberg said.
Trump's claim that April will be the last time you file under the previous tax system should also be subject to scrutiny, according to Greenberg, as the tax cuts for individuals right now will only last for eight years.
Another Trump claim, "we enacted the biggest tax cuts and reforms in American history," is also questionable. Greenberg said the tax legislation of 1981 and 1986 could be stronger contenders for that distinction.
"I would disagree with him, but that would be up for debate," Greenberg said.
401(k) gains subject to market gyrations For anyone who has a 401(k) invested in the stock market, the returns have been quite high, said Teresa Ghilarducci, professor of economics at the New School for Social Research.
But a look back to the financial crisis 10 years ago should serve as a stark reminder on how quickly that can change. At the end of 2008, savers had lost as much as 37 percent of their 401(k) savings, according to Ghilarducci. That put pressure on them to recoup both that money and lost gains.
Savers need to make sure they do not take the recent momentum and their retirement savings for granted.
"I really want to warn people not to take money out of their 401(k) and to brace themselves for the next recession," Ghilarducci said.
You're on your own for retirement While Trump touted stock market gains and what it meant for 401(k) savings, other notable retirement resources were not mentioned.
That goes for Social Security, which is set to | President Donald Trump's first State Union speech higher 401(k) balances stock market tax cuts .
effects savings income temporary retirement savings tax cuts could impact bottom line.
speech "victory lap" for Trump Tax Cuts Jobs Act, Scott Greenberg senior analyst Tax Foundation tax policy organization.
President Trump's 1st State of Union 15 Hours Ago| 20:34 stock market smashed gaining $8 trillion value," Trump great news for Americans' 401(k), retirement pension college savings accounts."
before victory lap Real effects tax reform uncertain Tax Cuts Jobs Act moved Congress swiftly take time see legislation's effects.
tax bill positive economic effect correct," Greenberg large economic effect hard verify."
Individuals should see more money in paychecks this month less federal taxes .
3 million individuals received bonuses tax cuts tax bill bill work increasing companies' ability invest higher productivity higher wages too early see effects.
Trump's claim April last time file previous tax system scrutiny tax cuts last eight years.
Another Trump claim biggest tax cuts reforms in American history," questionable. Greenberg tax legislation 1981 1986 stronger disagree debate," 401(k) gains market gyrations stock market returns high Teresa Ghilarducci professor economics New School for Social Research.
financial crisis 10 years reminder quickly change.2008 savers lost 37 percent 401(k) savings pressure recoup gains.
Savers not take momentum retirement savings .
warn not take 401(k brace next recession," retirement Trump touted stock market gains 401(k) savings retirement resources not mentioned.
Social Security | 0.8 |
CHARLOTTE, N.C., Jan. Healthstat, Inc., one of the country's most innovative workplace health promotion and wellness providers, has hired John Dawson, FSA, MAAA as Senior Vice President and Chief Actuary.
Prior to joining Healthstat, John Dawson served as a Health and Benefits Consultant and Actuary for over 20 years with Willis Towers Watson. In this new role of Chief Actuary for Healthstat, John will create models to measure the financial impact of Healthstat's program on patient lives and clients' overall healthcare costs.
"I look forward to focusing all my attention on understanding and maximizing the value that Healthstat delivers through its Employer-Sponsored Onsite Clinics," says John. "Healthstat has a unique approach to health promotion and behavioral change. Its embedded systems create new models of impact - for the employer and patient. Professionally, I have seen the Healthstat method at work, and have been impressed with its success. Personally, I am passionate about using my skills and my expertise to do good in the world. I see Healthstat's goals and objectives as being closely aligned with my own."
"Our goal is to change lives and discover how healthy a population can be," says Healthstat CEO Crockett Dale. "Employers continue to be concerned about the rising cost of healthcare as well as employee productivity, retention, and well-being. In this environment, onsite clinics are more popular than ever as a means of delivering value-based care. In turn, it becomes more crucial than ever for employers to be able to define and measure the outcomes that will direct their onsite programs toward the best results. Only then can employers maximize the value of the resources they invest in employee health. Our clients trust us to guide them, and John's actuarial skills will help to validate their confidence. We are honored that John is joining us in pursuit of this critical objective."
About Healthstat, Inc.
Headquartered in Charlotte, N.C., Healthstat, Inc. is a leading provider of employer sponsored onsite primary care, health-risk intervention, chronic care management and occupational medicine in employer facilities. Established in 2001, Healthstat currently manages and operates more than 300 health centers across the U.S. with a combined employee and dependent population of more than 300,000 people. Healthstat's nationally recognized, proprietary healthcare delivery model that centers around patient engagement and behavioral modification is considered the most successful solution for improving health and productivity and lowering healthcare costs for employers and their employees. Healthstat provides customized health and wellness solutions for any type of industry, including Manufacturing, Retail, Government, Distribution, University, and Not-For-Profit Human Services. For more information, visit www.healthstatinc.com .
Press Contact
Jennifer Maze
704.960.0317
188467@email4pr.com
View original content with multimedia: http://www.prnewswire.com/news-releases/healthstat-inc-adds-chief-actuary-to-health-management-team-tapping-former-willis-towers-watson-svp-300579767.html
SOURCE Healthstat Inc. | CHARLOTTE Healthstat Inc., John Dawson FSA Senior Vice President Chief Actuary.
Health Benefits Consultant Actuary 20 years Willis Towers Watson. Chief Actuary create models measure financial impact Healthstat's program patient clients' healthcare costs.
value Healthstat Employer-Sponsored Onsite Clinics," "Healthstat unique approach health promotion behavioral change systems create new models impact patient. Healthstat success passionate skills expertise Healthstat's goals aligned goal change lives healthy population Healthstat CEO Crockett Dale "Employers about rising cost healthcare employee productivity retention well-being. onsite clinics popular value-based care. crucial employers define measure outcomes onsite programs. employers maximize employee health. clients trust John's actuarial skills validate confidence. Healthstat .
Charlotte Healthstat provider employer onsite primary care health-risk intervention chronic care management occupational medicine facilities Established 2001 manages 300 health centers U.S. employee dependent population 300,000. Healthstat's healthcare delivery model patient engagement behavioral modification successful health productivity healthcare costs employers provides health wellness solutions for industry Manufacturing Retail Government Distribution University Not-For-Profit Human Services. visit www.healthstatinc.com .
Contact
Jennifer Maze
704.960.0317
188467@email4pr.com
original content multimedia http://www.prnewswire.com/news-releases/healthstat-inc-adds-chief-actuary-to-health-management-team-tapping-former-willis-towers-watson-svp-300579767.html SOURCE Healthstat Inc. | 0.9 |
DUBAI, UAE, January 9, 2018 /PRNewswire/ --
CREALOGIX, the Leader in Digital Banking Solutions acquires 100% of the Barcelona-based Innofis - a well-established digital banking supplier for the Middle East, serving leading banks of the region.
With the acquisition, CREALOGIX will gain an established customer base and initiate its presence in an additional territory with high demand and growth potential for digital banking solutions. The acquisition will complement the current solution portfolio in digital banking and accelerates CREALOGIX's position as a leading global player for digital banking.
The Barcelona based Innofis is a self-financed and privately held company with international focus, founded in 2012 in order to provide customer centric digital solutions to Financial Services organizations. Clients include top tier Middle East banks as NCB (National Commercial Bank), or the Al Rajhi Banking Corporation. Innovation was a key component for its continuous double-digit growth. Innofis is highly profitable and today generates over CHF 10 million of revenue.
Innofis's staff of more than 120 highly qualified engineers and specialists will join CREALOGIX and will continue to be led by the existing management team.
"As a result of the new, joint offering from Innofis and CREALOGIX, we will remain a reliable partner for our clients and will support them in their digitization initiatives, with a broader set of innovative, ready-to-use solutions", says David Moreno, CEO and founder of Innofis, who will become a member of the Executive Group Management of CREALOGIX and will also continue to be responsible for the Middle Eastern market.
There are optimal synergies between the mutually complementary product portfolios due to the shared technology foundations, and many modules can be integrated interchangeably, thanks to the use of modern open architecture based on micro-services and state-of-the-art deployment methods.
This move will allow existing and future customers to benefit from an even broader range of digital offerings from a single source. Due to the acquisition, CREALOGIX Digital Banking Hub will be complemented by a large number of innovative new modules, such as:
Predictive Analytics based on big data and including segmentation according to customer behavior or the calculation of propensity to purchase Advanced online campaign management including features as geo-marketing SaaS based digital loyalty program A comprehensive suite of specific modules for Islamic banking Extensive functionality for business banking (for SME and corporates)
"The acquisition underpins our strategic objectives by strengthening our market-leading digital banking offering, extending our international reach and establishing a material presence in the Middle East," says Thomas Avedik, CEO of the CREALOGIX Group.
About CREALOGIX
The CREALOGIX Group is an independent Swiss software provider and, as one of the Fintech Top 100 companies, it is a market leader in digital banking in Europe. CREALOGIX develops and implements innovative Fintech solutions for the digital banking of tomorrow. Using CREALOGIX solutions, banks can react to evolving customer needs in the area of e-banking, enabling them to hold their own in a very demanding and dynamic market and to remain one step ahead of their competitors. The group, founded in 1996, has around 420 employees worldwide. CREALOGIX Holding AG (CLXN)'s shares are traded on the SIX Swiss Exchange.
About Innofis
Innofis is a global provider of multichannel digital banking platforms. Every day, millions of retail and corporate banking clients are served by the Innofis platforms. The company's clients are top-tier international banks who appreciate the stability, control and innovation that the digital platforms provide. Innofis offers an attractive modular approach to digital technology which allows banks to invest and grow according to their needs.
The above press release contains future-oriented statements, that may be subject to certain unforeseeable risks, uncertainties and changes that are beyond the control of Innofis and CREALOGIX Holding AG. Innofis and CREALOGIX Holding AG can therefore not provide any assurances in relation to the accuracy of these future-oriented statements, their effect on the financial situation of CREALOGIX Holding AG or on the market in which CREALOGIX Holding AG shares and other securities are traded.
SOURCE CREALOGIX | DUBAI, UAE, January 9,2018 /PRNewswire/ --
CREALOGIX, Leader in Digital Banking Solutions acquires 100% of Barcelona-based Innofis- well-established digital banking supplier for Middle East, serving leading banks region.
With acquisition, CREALOGIX will gain established customer base initiate presence in additional territory with high demand and growth potential for digital banking solutions. acquisition complement current solution portfolio in digital banking accelerates CREALOGIX's position as leading global player for digital banking.
Barcelona based Innofis is self-financed privately held company with international focus, founded in 2012 to provide customer centric digital solutions to Financial Services organizations. Clients include top tier Middle East banks as NCB (National Commercial Bank), or Al Rajhi Banking Corporation. Innovation was key component for continuous double-digit growth. Innofis is highly profitable today generates over CHF 10 million revenue.
Innofis's staff of 120 qualified engineers and specialists will join CREALOGIX continue led by existing management team.
"As result new, joint offering from Innofis and CREALOGIX, we will remain reliable partner for clients support them in digitization initiatives, with broader set innovative, ready-to-use solutions", says David Moreno, CEO and founder of Innofis, will become member of Executive Group Management of CREALOGIX continue be responsible for Middle Eastern market.
optimal synergies between complementary product portfolios due to shared technology foundations, many modules can be integrated interchangeably, thanks to use of modern open architecture based on micro-services and state-of-the-art deployment methods.
move will allow existing and future customers to benefit from broader range of digital offerings from single source. Due to acquisition, CREALOGIX Digital Banking Hub will be complemented by large number innovative new modules, such as:
Predictive Analytics based on big data segmentation according to customer behavior or calculation of propensity to purchase Advanced online campaign management features geo-marketing SaaS based digital loyalty program A comprehensive suite of specific modules for Islamic banking Extensive functionality for business banking (for SME and corporates)
acquisition underpins our strategic objectives by strengthening market-leading digital banking offering, extending international reach establishing material presence in Middle East," says Thomas Avedik, CEO of CREALOGIX Group.
CREALOGIX
CREALOGIX Group is independent Swiss software provider one of Fintech Top 100 companies market leader in digital banking in Europe. CREALOGIX develops implements innovative Fintech solutions for digital banking of tomorrow. Using CREALOGIX solutions banks can react to evolving customer needs in e-banking, enabling to hold their own in demanding dynamic market remain one step ahead of competitors. group founded in 1996, has around 420 employees worldwide. CREALOGIX Holding AG (CLXN)'s shares traded on SIX Swiss Exchange.
Innofis
Innofis is global provider of multichannel digital banking platforms. millions of retail and corporate banking clients served by Innofis platforms. 's clients are top-tier international banks appreciate stability control innovation digital platforms provide. Innofis offers attractive modular approach to digital technology allows banks to invest and grow according to needs.
press release contains future-oriented statements, may be subject to unforeseeable risks, uncertainties changes beyond control of Innofis and CREALOGIX Holding AG. Innofis and CREALOGIX Holding AG can not provide assurances in to accuracy of these future-oriented statements, effect on financial situation of CREALOGIX Holding AG or on market in which CREALOGIX Holding AG shares and other securities are traded.
SOURCE CREALOGIX | 0.1 |
Europe finished Monday's session slightly lower, amid a lighter trading day, as stocks paused for breath after two weeks of strong gains.
The pan-European STOXX 600 came off its lows, to finish provisionally down 0.17 percent, while major sectors were mostly lower by the market close.
Symbol Name Price Change %Change Volume FTSE --- DAX --- CAC --- IBEX 35 --- The U.K.'s FTSE 100 slipped 0.12 percent, while France's CAC 40 dipped 0.13 percent and Germany's DAX fell 0.34 percent. In peripheral markets, Italy's FTSE MIB rose 0.49 percent.
Trade has been lighter than usual on Monday, as markets in the U.S. are closed, in light of Martin Luther King, Jr. Day. The dollar was under pressure, with the index down by 0.64 percent around Europe's close, against a basket of foreign currencies.
Carillion enters liquidation One of the major news stories Monday was that U.K. construction firm Carillion had entered into liquidation. The company's shares were suspended from trading, but its rivals rose on the news, with Serco up over 7 percent and Interserve rising 2 percent.
U.K. banking stocks were consequently in focus as HSBC and RBS are seen as some of its top creditors. Both lenders ended trade in the red.
Elsewhere, utilities was the second top-performing sector. Endesa was a top performer, closing up 1.4 percent after Goldman Sachs raised its price target and rating on the stock.
In individual stock news, Finnish miner Metso dropped to the bottom of the European benchmark, tumbling 9.84 percent, after the firm reported lower-than-expected sales and profits.
show chapters Carillion collapse to have small impact on exposed banks: Analyst 8 Hours Ago | 02:44 On the other hand, Azimut soared 12.76 percent, after it announced that it was doubling its dividend. Vivendi was among the top performing stocks too, rising 2.7 percent following a rating upgrade, giving a boost to the media sector.
British engineer GKN popped more than 4 percent after suitor Melrose said it planned on meeting GKN shareholders, after the engineering firm rejected a multi-million acquisition proposal last week, Reuters reported.
Over the weekend, news emerged that BNP Paribas was making plans to benefit from the U.K.'s decision to leave the European Union. The French bank has prepared plans to attract mid-sized British companies, the Financial Times reported.
In Asia, stocks closed mostly higher but Chinese bonds and equities stumbled after the government announced new steps on banking oversight in an "arduous" fight on financial risks, Reuters reported.
Vote Vote to see results Total Votes: Not a Scientific Survey. Results may not total 100% due to rounding. | Europe finished Monday's session lower, amid lighter trading day stocks paused for breath after two weeks strong gains.
pan-European STOXX 600 came off lows finish provisionally down 0.17 percent, major sectors lower by market close.
Symbol Name Price Change %Change Volume FTSE --- DAX --- CAC --- IBEX 35 --- U.K.'s FTSE 100 slipped 0.12 percent, France's CAC 40 dipped 0.13 percent Germany's DAX fell 0.34 percent. Italy's FTSE MIB rose 0.49 percent.
Trade lighter Monday markets in U.S. closed Martin Luther King, Jr. Day. dollar under pressure index down by 0.64 percent around Europe's close, against foreign currencies.
Carillion enters liquidation U.K. construction firm Carillion entered liquidation. company's shares suspended from trading rivals rose Serco up over 7 percent Interserve rising 2 percent.
U.K. banking stocks focus as HSBC and RBS top creditors. lenders ended trade in red.
utilities second top-performing sector. Endesa top performer, closing up 1.4 percent after Goldman Sachs raised price target rating .
Finnish miner Metso dropped to bottom of European benchmark, tumbling 9.84 percent, after reported lower-than-expected sales and profits.
show chapters Carillion collapse small impact on exposed banks: Analyst 8 Hours Ago| 02:44 Azimut soared 12.76 percent doubling dividend. Vivendi top performing stocks rising 2.7 percent following rating upgrade, boost to media sector.
British engineer GKN popped more than 4 percent after suitor Melrose planned meeting GKN shareholders, after firm rejected multi-million acquisition proposal, Reuters weekend news emerged BNP Paribas plans to benefit from U.K.'s decision to leave European Union. French bank prepared plans to attract mid-sized British companies, Financial Times reported.
Asia, stocks closed higher Chinese bonds equities stumbled after government announced new steps on banking oversight "arduous" fight on financial risks, Reuters reported.
Vote Vote to see results Total Votes: Not Scientific Survey. Results may not total 100% due to rounding. | 0.2 |
After a long stretch of stock market tranquility, more investors are concluding that paying for hedges to protect against any sudden downturn is a waste of money.
Howard Marella, founder of broker Icon Alternatives, is one. He had been a regular buyer of put options on individual stocks and indexes. These contracts are a form of insurance that pay out when stocks fall.
Heading... RELATED VIDEO Dow Hits 25000: Here's Why It Matters The Dow Jones Industrial Average crossed 25000, marking the latest big-number milestone for the index. So why does it matter? WSJ Markets Reporter Akane Otani explains. Photo: Reuters | After long stretch stock market tranquility, investors concluding paying for hedges protect against sudden downturn is waste money.
Howard Marella, founder broker Icon Alternatives is one. regular buyer options on stocks indexes. contracts insurance pay when stocks fall.
Heading... RELATED VIDEO Dow Hits 25000: Why It Matters Dow Jones Industrial Average crossed 25000, latest big-number milestone index. why does it matter? WSJ Markets Reporter Akane Otani explains. Photo: Reuters | 0.4 |
NEW YORK and LONDON, Jan. 18, 2018 /PRNewswire/ -- Exiger , the global regulatory, financial crime, risk and compliance company, announced the appointment of George "Ren" McEachern as Managing Director in the company's Global Investigations Group. A decorated investigator widely recognized as one of the world's leading anti-bribery authorities, Mr. McEachern is based in Exiger's Washington, D.C. Metro office.
Mr. McEachern will focus primarily on leading anti-bribery investigations and assisting multinational corporations and financial institutions with regulatory risk management. He joined Exiger from the FBI, where he was a Supervisory Special Agent heading the Washington Field Office International Corruption Squad with a focus on Foreign Corrupt Practices Act (FCPA), international money laundering, kleptocracy and antitrust investigations. Mr. McEachern was one of the architects of the FBI's new global strategy on international corruption, which began in 2015, and included the creation of specialized FBI teams located in New York, Washington, DC, and Los Angeles.
"Ren has been at the epicenter of some of the largest and most complex global FCPA investigations in recent memory, giving him a deep, practical understanding of the lens through which the DOJ and the SEC view bribery and corruption issues and compliance programs," said Richard Plansky, Exiger Americas Regional Leader and Global Head of Investigations. "This unique perspective will be invaluable to our clients, providing them with the expert insight and cutting-edge technology they need to investigate critical anti-bribery issues and develop the sustainable anti-bribery and corruption compliance programs that are critical to navigating today's uncertain regulatory environment."
Throughout his 12-year career with the FBI, Mr. McEachern has worked closely with the banking industry, leveraging suspicious activity reports (SARs) and internal bank investigations to follow complex money movements throughout the global financial system. He has managed international corruption investigations in the Americas, Asia, Europe, Africa, and the Middle East, bringing together law enforcement, compliance professionals, and global financial authorities in a united front to identify and stop sources of corruption.
"Effective compliance is proactive compliance. Exiger understands this and distinguishes itself by pairing proven domain experts with breakthrough artificial intelligence technologies that allow companies to get out in front of potential problems before they can proliferate," said Mr. McEachern. "Exiger is leading the development of real-world investigative solutions that encompass the latest technologies and analytics to address both compliance and business growth imperatives."
Mr. McEachern will leverage this unique experience to provide strategic, technology-enabled investigative and compliance solutions to help Exiger clients manage bribery- and corruption-related risk.
About Exiger
Exiger is a global regulatory and financial crime, risk and compliance company. Exiger arms financial institutions, multinational corporations and governmental agencies with the practical advice and technology solutions they need to prevent compliance breaches, respond to risk, remediate major issues and monitor ongoing business activities. Exiger works with clients worldwide to assist them in effectively managing their critical challenges while developing and implementing the policies, procedures and programs needed to create a sustainable compliance environment. A global authority on regulatory compliance, the company also oversees some of the world's most complex court-appointed and voluntary monitorships in the private and public sectors, including the monitorship of HSBC. Exiger has four principal business units being: Exiger Advisory; Exiger Diligence ; Exiger Government Services; and Exiger Tech, including AI-based automated due diligence solutions DDIQ and Insight 3PM . Exiger operates through offices in New York City, Silver Spring (DC Metro), Miami, Toronto, Vancouver, London, Hong Kong, and Singapore.
Contacts:
U.S.
John Roderick
john@jroderick.com
631-584-2200
Europe
James Rossiter
jrossiter@morganrossiter.com
44 0203 195 3240
View original content with multimedia: http://www.prnewswire.com/news-releases/exiger-names-former-fbi-international-corruption-squad-head-george-ren-mceachern-managing-director-in-global-investigations-group-300584353.html
SOURCE Exiger | NEW YORK LONDON, Jan.18,2018 /PRNewswire/ -- Exiger, global regulatory financial crime risk compliance company announced appointment George "Ren" McEachern as Managing Director company's Global Investigations Group. decorated investigator recognized as world's leading anti-bribery authorities McEachern based in Exiger's Washington, D.C. Metro office.
McEachern focus on leading anti-bribery investigations assisting multinational corporations financial institutions with regulatory risk management. joined Exiger from FBI, Supervisory Special Agent Washington Field Office International Corruption Squad focus on Foreign Corrupt Practices Act (FCPA), international money laundering, kleptocracy antitrust investigations. McEachern was architects FBI's new global strategy on international corruption, began in 2015, included creation of specialized FBI teams in New York, Washington, DC, Los Angeles.
"Ren epicenter of largest complex global FCPA investigations deep understanding of lens DOJ SEC view bribery corruption issues compliance programs," Richard Plansky, Exiger Americas Regional Leader Global Head of Investigations. "This unique perspective invaluable to clients providing with expert insight cutting-edge technology to investigate critical anti-bribery issues develop sustainable anti-bribery corruption compliance programs critical 's uncertain regulatory environment."
12-year career with FBI McEachern worked with banking industry, leveraging suspicious activity reports (SARs) internal bank investigations to follow complex money movements global financial system. managed international corruption investigations in Americas, Asia, Europe Africa Middle East, bringing together law enforcement compliance professionals global financial authorities in united front to identify stop sources corruption.
"Effective compliance is proactive compliance. Exiger understands pairing domain experts with breakthrough artificial intelligence technologies allow companies to get out potential problems before proliferate," McEachern. "Exiger leading development of real-world investigative solutions latest technologies analytics address compliance business growth imperatives."
Mr. McEachern will leverage unique experience provide strategic technology-enabled investigative compliance solutions help Exiger clients manage bribery- corruption-related risk.
About Exiger
Exiger is a global regulatory financial crime, risk compliance company. arms financial institutions multinational corporations governmental agencies with practical advice technology solutions to prevent compliance breaches respond to risk remediate major issues monitor business activities. Exiger works with clients worldwide to assist managing critical challenges developing implementing policies procedures programs create sustainable compliance environment. global authority on regulatory compliance company oversees world's complex court-appointed voluntary monitorships in private public sectors, including monitorship of HSBC. Exiger has four principal business units Exiger Advisory Exiger Diligence; Exiger Government Services; Exiger Tech, including AI-based automated due diligence solutions DDIQ Insight 3PM. Exiger operates offices in New York City Silver Spring Miami, Toronto Vancouver London Hong Kong Singapore.
Contacts:
U.S.
John Roderick
john@jroderick.com
631-584-2200
Europe
James Rossiter
jrossiter@morganrossiter.com
44 0203 195 3240
View original content with multimedia: http://www.prnewswire.com/news-releases/exiger-names-former-fbi-international-corruption-squad-head-george-ren-mceachern-managing-director-in-global-investigations-group-300584353.html SOURCE Exiger | 0.3 |
Rocket Lab blasted off into space on Saturday, taking a major step toward opening low-cost access for a new generation of satellites.
The rocket builder's Electron vehicle reached orbit for the first time, deploying a payload of micro-satellites after launching from the company's complex on New Zealand's Mahia Peninsula.
This was the first time Electron's orbital deployment systems were tested, something CEO Peter Beck said was "the next crucial step" Rocket lab was "eager to test."
"It's not like we're looking to build one or two vehicles this year. We're really looking to kick it into an unprecedented flight rate" after testing is complete, Beck told CNBC.
The mission, titled "Still Testing," deployed three satellites. One was an Earth-imaging Dove satellites built by Planet, and the other were Lemur-2 satellites that monitor weather and track ships, built by Spire.
"This is the first test carrying customer payloads and we'll be monitoring everything closely as we attempt to reach orbit," Beck said. "This is not just about getting to orbit. We're really looking to get all the data we can."
In December, Electron missed its 10-day window after delays from weather and a last second abort. Rocket Lab had counted all the way down to T-minus 2 seconds, when Beck says Electron automatically aborted.
"The engines ignited but a couple engines didn't like the temperature of the liquid oxygen, so it automatically shut down," Beck said.
Rocket Lab had at least one more chance at launching in December, but Beck says "the weather didn't look good enough."
Electron's success comes at a critical time, as Rocket Lab has contracted to launch five rockets for lunar mining company Moon Express as early as next spring.
Rocket Lab said previously that the results of the "Still Testing" launch, if the rocket "performs nominally," may cause the company to accelerate the Electron program into commercial use.
"There's a tremendous number of things in place that enables us to ramp up production that way," Beck said.
This was the second of three planned test launches. In May, the first Electron vehicle failed to reach orbit. CEO Peter Beck said at the time the problems involved "third-party error" and were fixed. No major change was made to Electron's hardware between the tests.
Beck says the company will continue to base launches out of New Zealand, saying "right now we have all the capacity we need." As launches increase, Beck says that talks are ongoing with several spaceports and launch locations around the United States for future Rocket Lab flights.
"We're talking to Cape Canaveral, Kodiak in Alaska, and have a great relationship with Wallops," Beck said.
The launch was also the first to be livestreamed by Rocket Lab, a trend among private companies made popular by Elon Musk's SpaceX over the past decade. | Rocket Lab space Saturday major step low-cost access for new generation satellites.
's Electron vehicle reached orbit first time micro-satellites after New Zealand's Mahia Peninsula.
first time Electron's orbital deployment systems tested CEO Peter Beck crucial "eager to test."
not vehicles unprecedented flight rate after testing complete mission "Still Testing," deployed three satellites One Earth-imaging Dove Planet Lemur-2 satellites monitor weather track ships Spire. first test customer payloads monitoring closely orbit," all data can."
In December Electron missed 10-day window after delays weather second abort. aborted engines ignited like temperature shut down," one more chance December weather 't enough." Electron's success critical time launch five rockets for lunar mining Moon Express next spring.
results if may cause accelerate Electron program into commercial use.
ramp up production second of three test launches. In May first Electron vehicle failed to reach orbit. CEO Peter Beck problems "third-party error fixed. No major change to Electron's hardware between tests.
Beck company continue base launches New Zealand capacity need." launches increase talks ongoing spaceports launch locations United States for future Rocket Lab flights.
Cape Canaveral Kodiak Alaska relationship Wallops,". launch first livestreamed Rocket Lab trend private companies popular by Elon Musk's SpaceX decade. | 0.6 |
KUWAIT, Jan 17 (Reuters) - Kuwaiti budget carrier Jazeera Airways filled around 74.5 percent of its available seats in 2017, a year-on-year increase of 5.5 percentage points, its chief executive said on Wednesday.
Jazeera Airways added three new routes last year, including starting flights to Doha, Qatar, shortly after Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt banned direct flights to the country in June.
The budget carrier is targeting to fill close to 80 percent of its available seats this year, Chief Executive Rohit Ramachandran told Reuters at an air show in Kuwait.
Jazeera Airways is adding two jets to its fleet of seven Airbus A320 aircraft by February. Its network expansion this year includes adding flights to Indian cities Ahmedabad, Kochi, and Mumbai.
The airline intends to cut its cost per passenger to 55 euros by the end of 2019, down from 90 euros per passenger today, and 100 euros per passenger in 2016.
Ramachandran said Jazeera Airways was increasingly focusing on improving ancillary revenue, including through food and beverage and baggage charges.
Jazeera Airways will release its 2017 financial results in the coming weeks, Ramachandran said. (Reporting by Alexander Cornwell; Editing by Mark Potter)
| KUWAIT Jan 17 (Reuters Kuwaiti budget carrier Jazeera Airways filled 74.5 percent of available seats in 2017, year-on-year increase 5.5 percentage points, chief executive said Wednesday.
added three new routes last year, flights to Doha, Qatar after Saudi Arabia, United Arab Emirates Bahrain, Egypt banned flights June.
budget carrier targeting to fill 80 percent seats this year, Chief Executive Rohit Ramachandran told Reuters air show Kuwait.
Jazeera Airways adding two jets to fleet seven Airbus A320 aircraft by February. network expansion includes flights to Indian cities Ahmedabad, Kochi Mumbai.
airline intends to cut cost per passenger to 55 euros by end 2019, down from 90 euros today 100 euros per passenger in 2016.
Ramachandran Jazeera Airways focusing improving ancillary revenue, food beverage baggage charges.
release 2017 financial results weeks,. (Reporting by Alexander Cornwell Editing Mark Potter)
| 0.5 |
Jan 19 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
- The percentage of young adult women who filled prescriptions for drugs used to treat attention deficit disorder has increased more than fivefold since 2003, the Centers for Disease Control and Prevention reported on Thursday. nyti.ms/2mTnskQ
- Lebanon's internal intelligence agency appears to have been caught spying on thousands of people - including journalists and military personnel - in more than 20 countries, according to researchers at the Electronic Frontier Foundation and Lookout, a mobile security company. nyti.ms/2mVjBUx
- Driving a car into the busiest parts of Manhattan could cost $11.52 under a major proposal prepared for Gov. Andrew Cuomo that would make New York the first city in the United States with a pay-to-drive plan. nyti.ms/2mVrl8L
- William Bain Jr., who founded the business consulting firm Bain & Company and was an early mentor to Mitt Romney, died on Tuesday at his home in Naples, Fla. He was 80. nyti.ms/2mUYAJo (Compiled by Bengaluru newsroom)
| Jan 19 (Reuters- top stories New York Times business pages. Reuters not verified not vouch accuracy.
percentage young adult women filled prescriptions drugs attention deficit disorder increased fivefold since 2003, Centers for Disease Control and Prevention reported. nyti.ms/2mTnskQ
Lebanon's intelligence agency caught spying thousands people- journalists military personnel- 20 countries, researchers Electronic Frontier Foundation Lookout security company. nyti/2mVjBUx
car Manhattan cost $11.52 proposal Gov. Andrew Cuomo New York first city United States pay-to-drive plan. nyti/2mVrl8L
William Bain Jr., founded Bain& Company mentor Mitt Romney, died Tuesday home Naples 80. nyti/2mUYAJo (Compiled Bengaluru newsroom)
| 0.7 |
REITs Why this homeowner will accept bitcoin for his $45 million mansion The seller of a 9,000-square-foot Malibu, California, home is willing to accept bitcoin as part of the payment. Buying up brick-and-mortar real estate might take some of the volatility out of a cryptocurrency investment. "I'm not saying it's safe," the seller said. "I'm just willing to take the risk for investment." 4 Hours Ago | 01:39
Dr. Wei Tzuoh Chen is putting his 9,000-square-foot beachfront Malibu home on the market for $45 million.
It's a stunning masterpiece, designed by architect Ed Niles, unlike any other house on the ultra-luxurious strip of California beach. Angles jut out in every direction, most of the walls are windows, and a catwalk crosses the two-story entry foyer connecting the upstairs bedrooms.
Perhaps most unusal, Chen is willing to accept bitcoin as part of the payment from a buyer.
The kidney specialist, who has lived in the United States since the 1970s, says he is fascinated with cryptocurrencies and considers them to be just as legitimate as a dollar, pound or yen.
"I've been interested since it started, and I'm always watching what's going on," said Chen. "It's going to be the future. It just depends which one is going to be stabilized in the current market.
Do his neighbors think he's crazy? CNBC Dr. Wei Tzuoh Chen
"Oh yes!" he laughed.
Chen, who says he has already invested in cryptocurrencies, said he believes banks are on the verge of buying in, which would give more support to the cryptomarket. That, in turn, could push values even higher.
Chen is also quite pragmatic about the benefits of accepting a currency that is largely unregulated.
"According to current situation, if you buy the property with cryptocurrency, it's difficult to identify the cost of the real estate because it fluctuates so much," he said. "The government will have a hard time to tax or put a property value on the house you are going to sell." "I'm not saying it's safe. I'm just willing to take the risk for investment. Just like everybody else." -Dr. Wei Tzuoh Chen, Malibu home seller
And that opens up the potential buyer market for his home. There may not be a ton of $45 million buyers, but there are more now than there were even a year ago, thanks to cryptocurrencies.
New millionaires are now looking for ways to take some of the volatility out of their cryptogains, and brick-and-mortar real estate is the perfect way. CNBC
"The majority of bitcoin purchasers are outside of this country," Chen said. "And for this type of house and this amount, I think we'll attract more international buyers than from our country."
Chen said if he does get bitcoin in the sale, he will keep some of it and change some for dollars. Given the volatility of bitcoin, he could gain or lose money within days, essentially getting more or less for his home than he intended.
And that's why he only wants part of the payment in cryptocurrency.
"I'm not saying it's safe," Chen said. "I'm just willing to take the risk for investment. Just like everybody else." Diana Olick CNBC Real Estate Reporter Playing | homeowner accept bitcoin $45 million 9,000-square-foot Malibu home bitcoin volatility cryptocurrency investment 4 Hours Ago 01:39 Wei Tzuoh Chen Malibu home $45 million. masterpiece Ed Niles walls windows foyer accept bitcoin cryptocurrencies legitimate dollar pound yen banks push values. currency cost government tax risk investment Wei Tzuoh Chen Malibu home seller opens buyer market. $45 million buyers more cryptocurrencies millionaires volatility cryptogains brick-and-mortar real estate perfect. majority bitcoin purchasers outside country," attract more international buyers country." Chen bitcoin keep change for dollars volatility gain or lose money more less. wants part payment cryptocurrency. not safe," willing risk investment Diana Olick CNBC Real Estate Reporter Playing | 0.9 |
LONE TREE, Colo., Jan. 12, 2018 /PRNewswire/ -- Zynex, Inc. (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics, today announced the appointment of Michael Cress, and Barry Michaels to its Board of Directors and Audit Committee. Barry Michaels will also serve as Audit Committee Chair.
Thomas Sandgaard, Zynex Founder, Chairman and Chief Executive Officer said: "I am very pleased with the appointment of our two new independent board members, their business and healthcare industry experience will provide us the depth and resources required for the company to continue on its growth trajectory as well as complying with the requirements of a senior exchange."
Michael Cress serves as Chairman & Managing Partner of MD Cress Ventures, a national firm that owns, operates and advises companies within the healthcare sector. Michael also serves as Chairman of Rainier Healthcare. Prior to MD Cress Ventures he served as the President and CEO of the Cornerstone Healthcare Group which owns and manages hospitals throughout the country. Mr. Cress also served as Vice President of Business Development for Kindred Healthcare, a publicly traded healthcare company that owns and operates hospitals, nursing homes, rehabilitation, pharmacy and other segments of the healthcare continuum. He served as the CEO of Vencor Hospital of San Diego and was also an Adjunct Professor for the Masters of Healthcare Administration program at the University of Kansas. Mr. Cress serves on several not-for-profit boards to include Rachel's Challenge and co-founded and serves on the board for The Neighborhood. He serves on the boards or advisory boards of several companies to include Linley Capital, BankSNB, Rainier Hospice and Sleep Research.
Barry Michaels has 40 years of financial and general management experience in the medical device and biotechnology industries with industry leaders including Medtronic, Johnson and Johnson, and Baxter Healthcare, as well as having served as President or Chief Financial Officer of seven emerging stage companies. Most recently he served as a consultant to Organovo Holdings, Inc. after retiring therefrom in 2016, where he served as its Chief Financial Officer since 2011. Mr. Michaels received an MBA with a concentration in finance from San Diego State University and is a graduate of the Executive Program at the UCLA Anderson Graduate School of Management.
About Zynex
Zynex, founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation; and the company's proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex is also developing a new blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: Zynex.com .
Safe Harbor Statement
Certain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain FDA clearance and CE marking of new products, the acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater financial resources, the need to keep pace with technological changes, our dependence on the reimbursement from insurance companies for products sold or rented to our customers, acceptance of our products by health insurance providers, our dependence on third party manufacturers to produce our goods on time and to our specifications, implementation of our sales strategy including a strong direct sales force our ability to up-list to a larger exchange and other risks described in our filings with the Securities and Exchange Commission including the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2016 as well as Forms 10-Q, 8-K and 8-K/A, press releases and the Company's website.
Contact:
Zynex, Inc.
(303) 703-4906
Investor Relations Contact:
Amato And Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
View original content with multimedia: http://www.prnewswire.com/news-releases/zynex-appoints-two-new-independent-board-of-directors-300582073.html
SOURCE Zynex | LONE TREE Colo., Jan.12,2018 /PRNewswire -- Zynex Inc. (OTCQB ZYXI), medical technology company sale non-invasive medical devices pain management stroke rehabilitation cardiac monitoring neurological diagnostics appointment Michael Cress Barry Michaels to Board of Directors Audit Committee. Audit Committee Chair.
Thomas Sandgaard Zynex Founder Chairman Chief Executive Officer appointment independent board members business healthcare industry experience resources growth trajectory senior exchange."
Michael Cress Chairman Managing Partner MD Cress Ventures Chairman Rainier Healthcare President CEO Cornerstone Healthcare Group Vice President Business Development Kindred Healthcare nursing homes rehabilitation pharmacy CEO Vencor Hospital San Diego Adjunct Professor Masters of Healthcare Administration University of Kansas. -profit boards Rachel's Challenge The Neighborhood Linley Capital BankSNB Rainier Hospice Sleep Research.
Barry Michaels 40 years financial management experience medical device biotechnology industries Medtronic Johnson Johnson Baxter Healthcare President Chief Financial Officer seven stage companies consultant Organovo Holdings Chief Financial Officer since 2011. MBA finance San Diego State University graduate Executive Program UCLA Anderson Graduate School of Management.
Zynex
Zynex founded 1996 markets electrotherapy devices pain management rehabilitation NeuroMove device stroke spinal cord injury. new blood volume monitor hospitals surgery centers. visit Zynex.com .
Statement
statements "forward-looking subject risks uncertainties. results vary from. differ include FDA clearance CE marking acceptance larger competitors financial resources pace technological changes dependence on reimbursement insurance acceptance health insurance dependence third party sales strategy risks in filings Securities Exchange Commission Report Form 10-K Forms 10-Q,8-K 8-K/A press releases website.
Contact Zynex, Inc.
(303) 703-4906
Investor Relations Amato And Partners, LLC
admin@amatoandpartners.com
View original content http://www.prnewswire.com/news-releases/zynex-appoints-two-new-independent-board-of-directors-300582073.html SOURCE Zynex | 0.8 |
Justin Sullivan | Getty Images A customer holds a handful of Powerball tickets.
It's been a billion-dollar lottery weekend after a lone Powerball ticket sold in New Hampshire matched all six numbers and will claim a $570 million jackpot, one day after another single ticket sold in Florida nabbed a $450 million Mega Millions grand prize .
The winning Powerball numbers drawn Saturday night were 12-29-30-33-61 and Powerball 26.
The Powerball jackpot was the nation's seventh largest.
The Florida Lottery says the winning Mega Millions ticket was bought at a 7-Eleven convenience store in Port Richey. The retailer will receive a $100,000 bonus for selling the winning ticket.
The winning numbers to claim the Mega Millions jackpot were 28-30-39-59-70-10.
The jackpots refer to the annuity options for both games, in which payments are made over 29 years. Most winners opt for cash options, which would be $281 million for Mega Millions and $358.5 million for Powerball.
The odds of winning the Mega Millions jackpot are one in 302.5 million. Powerball odds are one in 292.2 million.
The identity of either winner was not immediately available. However, under Florida law, the Mega Millions winner cannot remain anonymous.
The winner has 180 days from the date of the drawing to claim the prize. However, to elect the one-time, lump-sum cash payment option for $281.2 million the claim must be filed within 60 days, according to lottery officials.
The winner's name, city of residence and details on the winnings can be made public; however, the winner's home address and telephone numbers are to be kept "confidential."
According to the website, only three Mega Millions jackpots have been larger than the most recent grand prize: a jackpot of $656 million in 2012; a jackpot of $648 million in 2013; and $536 million in 2016. | Justin Sullivan| Getty Images customer holds Powerball tickets.
's billion-dollar lottery weekend after lone Powerball ticket sold in New Hampshire matched all six numbers claim $570 million jackpot, one day after another single ticket sold in Florida nabbed $450 million Mega Millions grand prize.
winning Powerball numbers drawn Saturday night were 12-29-30-33-61 and Powerball 26.
Powerball jackpot was nation's seventh largest.
Florida Lottery says winning Mega Millions ticket was bought at 7-Eleven convenience store in Port Richey. retailer will receive $100,000 bonus for selling winning ticket.
winning numbers to claim Mega Millions jackpot were 28-30-39-59-70-10.
jackpots refer to annuity options for both games, payments are made over 29 years. Most winners opt for cash options, $281 million for Mega Millions and $358.5 million for Powerball.
odds of winning Mega Millions jackpot are one in 302.5 million. Powerball odds are one in 292.2 million.
identity of winner was not immediately available. under Florida law, Mega Millions winner cannot remain anonymous.
winner has 180 days from date drawing to claim prize. to elect one-time, lump-sum cash payment option for $281.2 million claim must be filed within 60 days, according to lottery officials.
winner's name, city of residence details on winnings can be public; winner's home address telephone numbers to be kept "confidential."
According website, only three Mega Millions jackpots larger than most recent grand prize: jackpot of $656 million in 2012; jackpot of $648 million in 2013; and $536 million in 2016. | 0.1 |
Jan 16 (Reuters) - Republicans who control the U.S. Congress are expected to try to pass a temporary spending bill before a Friday deadline, when existing federal funding is set to expire and federal agencies would begin to shut down.
While past shutdowns have done little lasting economic damage, these events can hurt federal workers, rattle markets and shake confidence in the United States abroad.
Since Congress implemented the modern budget process in the mid-1970s, there have been 18 gaps in government funding, according to the Congressional Research Service (CRS), but not all resulted in government shutdowns. In fact, only three of them had a significant impact.
During six funding gaps before 1980, the government continued normal operations. There were nine funding gaps between 1981 and 1994, but they occurred over weekends with minimal government disruption, according to the Committee for a Responsible Federal Budget, a Washington think tank.
Here are the three occasions when funding lapsed and significant government shutdowns occurred.
Nov. 14 to 18, 1995: This was the first of two government shutdowns that occurred after Democratic President Bill Clinton vetoed spending legislation passed by the Republican-controlled Congress. About 800,000 workers were furloughed from Nov. 15 to 19 during the first lapse in government funding, according to a CRS report.
Dec. 16, 1995 to Jan. 5, 1996: Clinton's continued clash with congressional Republicans over funding levels for the Medicare health insurance program for the elderly, education and other issues resulted in a second furlough of about 280,000 workers for 27 days beginning on Dec. 16, 1995, according to the CRS.
Oct. 1 to 16, 2013: During this standoff, about 800,000 federal workers were furloughed, and more than a million more reported to work without knowing when they would be paid, according to media reports. The shutdown occurred after conservative House of Representatives Republicans attempted to use the budget process to delay or defund implementation of Democratic President Barack Obama's Affordable Care Act, known as Obamacare.
The impasse between the House and the Democratic-controlled Senate, along with Obama, ended after both chambers passed a Senate-brokered bill that imposed stricter income verification requirements on people obtaining health insurance through Obamacare. The deal to end the shutdown coincided with a deadline to raise the U.S. debt ceiling, the country's borrowing limit.
(Compiled by Amanda Becker; Additional reporting by Blake Brittain; Editing by Will Dunham) | Jan 16 (Reuters- Republicans control U.S. Congress expected to pass temporary spending bill before Friday deadline, when existing federal funding expire federal agencies begin shut down.
past shutdowns done little economic damage can hurt federal workers, rattle markets shake confidence in United States abroad.
Since Congress implemented modern budget process mid-1970s,18 gaps in government funding, Congressional Research Service (CRS), not all resulted in government shutdowns. only three had significant impact.
six funding gaps before 1980 government continued normal operations. nine funding gaps between 1981 and 1994, occurred over weekends with minimal government disruption, according Committee for a Responsible Federal Budget Washington tank.
three occasions when funding lapsed significant government shutdowns occurred.
Nov.14 to 18,1995: first of two government shutdowns after Democratic President Bill Clinton vetoed spending legislation passed Republican-controlled Congress. About 800,000 workers furloughed from Nov.15 to 19 during first lapse in government funding, CRS report.
Dec.16,1995 to Jan.5,1996: Clinton's clash with congressional Republicans over funding levels for Medicare health insurance program for elderly, education other issues resulted in second furlough of 280,000 workers for 27 days beginning on Dec.16,1995, CRS.
Oct.1 to 16,2013: During standoff 800,000 federal workers were furloughed, more than a million more reported to work without knowing when paid, media. shutdown after conservative House of Representatives Republicans attempted to use budget process to delay or defund implementation of Democratic President Barack Obama's Affordable Care Act Obamacare.
impasse between House and Democratic-controlled Senate, with Obama, ended after both chambers passed Senate-brokered bill imposed stricter income verification requirements on people obtaining health insurance through Obamacare. deal to end shutdown coincided with deadline to raise U.S. debt ceiling, country's borrowing limit.
(Compiled by Amanda Becker; Additional reporting by Blake Brittain Editing by Will Dunham) | 0.2 |
OLD GREENWICH, Conn., Jan. 23, 2018 /PRNewswire/ -- Spencer Trask & Co. , a privately held advanced technology development firm, is pleased to announce the sale of ImThera Medical, Inc. ("ImThera"), a privately owned company focused on neurostimulation for the treatment of obstructive sleep apnea ("OSA"). The company was purchased by LivaNova PLC , a market-leading, medical technology company, as part of a transaction valued at approximately $225 million. Spencer Trask & Co. co-founded ImThera with Marcello Lima in keeping with the company's long tradition of helping develop innovative healthcare solutions that treat important medical conditions.
ImThera designed and developed a non-drug therapy for OSA that cyclically and continuously stimulates six muscles of the tongue via an implantable device. This therapy received its European CE mark in March 2012 and is currently being tested as part of a 141 patient Phase III clinical trial in the U.S. Led by Alan R. Schwartz, MD at Johns Hopkins University, the clinical trial is expected to be completed by March 2018.
"This transaction with LivaNova accelerates the ImThera mission of providing its life-changing therapy to the millions of Americans who are living with obstructive sleep apnea," said Spencer Trask & Co. Chairman Kevin Kimberlin.
The Centers for Disease Control and Prevention identifies insufficient sleep as a "public health epidemic," noting that one third of U.S. adults report that they usually get less than the recommended amount of sleep. Victims of OSA stop breathing during the night, sometimes several hundred times. This often undiagnosed condition is a major contributor to neurocognitive, metabolic and cardiovascular disease and may affect as many as 25 million Americans.
ImThera developed a programmable chip which stimulates the hypoglossal nerve that supplies the muscles of the tongue with signals from the brain. By so doing, the ImThera implant keeps the air passageway open throughout the night.
According to a retrospective study published in the Journal of Thoracic Disease ( Feb. 2016 ), individuals suffering from OSA face between a 35% and 85% higher mortality rate compared to healthy people. Approximately 50% of those with sleep apnea suffer from hypertension, a contributing factor in the approximately 38,000 annual cardiovascular deaths (high blood pressure, hypertension, stroke) attributed to the disease.
Kimberlin added, "This is a prime example of the Spencer Trask & Co. mission in action, transforming the standard of care for conditions that affect millions of people." Spencer Trask & Co. is known for discovering and bringing to market technical solutions that improve the human condition.
About ImThera Medical, Inc.
ImThera Medical is a global leader in neurostimulation for the treatment of obstructive sleep apnea. Headquartered in San Diego, ImThera was founded to improve the lives of patients suffering from the debilitating effects of OSA. ImThera's sleep therapy product is comprised of an implanted small generator and multi-channel electrode lead, along with an external handheld remote control that can start, stop or pause therapy. ImThera collaborates with the world's top scientists and medical experts in sleep medicine, and its product is commercially available in several countries outside the United States.
About LivaNova
LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova's advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. LivaNova operates as three business franchises: Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management, with operating headquarters in Mirandola (Italy), Houston (U.S.A.) and Clamart (France), respectively.
About Spencer Trask & Co.
Spencer Trask & Co. is a privately held advanced technology development firm that helps entrepreneurs, CEOs and corporate partners start and grow high impact ventures that are changing the world. The company has been instrumental in helping companies pioneer many technological and scientific advancements in the fields of genomics, healthcare technology, mobile technology, the Internet and Open Innovation. Please visit www.spencertraskco.com for more information.
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SOURCE Spencer Trask & Co. | OLD GREENWICH, Conn., Jan.23,2018 /PRNewswire/ -- Spencer Trask& Co. advanced technology development firm announce sale of ImThera Medical, Inc. company on neurostimulation for treatment obstructive sleep apnea ("OSA"). company purchased by LivaNova PLC, market-leading medical technology company transaction valued at approximately $225 million. co-founded ImThera with Marcello Lima tradition develop innovative healthcare solutions treat medical conditions.
ImThera designed developed non-drug therapy for OSA stimulates six muscles tongue via implantable device. therapy received European CE mark March 2012 tested 141 patient Phase III clinical trial in U.S. Led by Alan R. Schwartz, MD at Johns Hopkins University clinical trial expected completed by March 2018.
transaction with LivaNova accelerates ImThera mission life-changing therapy to Americans with obstructive sleep apnea," said Spencer Trask Co. Chairman Kevin Kimberlin.
Centers for Disease Control and Prevention identifies insufficient sleep as a "public health epidemic," one third of U.S. adults report get less than recommended sleep. Victims of OSA stop breathing during night, sometimes hundred times. undiagnosed condition major contributor to neurocognitive metabolic cardiovascular disease may affect 25 million Americans.
ImThera developed programmable chip stimulates hypoglossal nerve supplies muscles tongue with signals from brain. ImThera implant keeps air passageway open night.
retrospective study Journal of Thoracic Disease( Feb.2016 ), individuals suffering from OSA face 35% and 85% higher mortality rate compared healthy.50% of with sleep apnea suffer from hypertension, contributing factor in 38,000 annual cardiovascular deaths (high blood pressure, hypertension, stroke) to disease. Kimberlin added "This prime example of Spencer Trask& Co. mission in action, transforming standard care for conditions affect millions people." Spencer Trask& Co. known for discovering market technical solutions improve human condition.
ImThera Medical Inc.
ImThera Medical global leader in neurostimulation for treatment obstructive sleep apnea. in San Diego ImThera founded to improve lives patients effects OSA. 's sleep therapy product implanted small generator multi-channel electrode lead external handheld remote control start stop pause therapy. collaborates with top scientists medical experts in sleep medicine, product commercially available in several countries outside United States.
LivaNova
LivaNova PLC global medical technology company five decades experience commitment to improve lives patients. LivaNova's advanced technologies breakthrough treatments provide solutions for benefit patients healthcare professionals healthcare systems. in London presence in 100 countries worldwide employs 4,500 employees. operates three business franchises: Cardiac Surgery, Neuromodulation Cardiac Rhythm Management, headquarters in Mirandola (Italy), Houston (U Clamart (France), .
Spencer Trask& Co.
Spencer Trask& Co. is privately held advanced technology development firm helps entrepreneurs CEOs corporate partners start grow high impact ventures changing world. company instrumental helping companies pioneer technological scientific advancements in genomics healthcare technology mobile technology Internet Open Innovation. visit www.spencertraskco.com for information.
View original content: http://www.prnewswire.com/news-releases/spencer-trask--co-and-its-affiliated-investors-close-the-sale-of-imthera-medical-inc-300586857.html SOURCE Spencer Trask& Co. | 0.3 |
NEW YORK, Jan 3 (Reuters) - U.S. fund investors closed out 2017 in the same cautious stance where they started the year, favoring bonds and world stocks over equities in their home market, Investment Company Institute (ICI) data showed on Wednesday. Stock funds attracted $4.1 billion during the week ended Dec. 27, the trade group said, with about 70 percent of that moving into funds focused on stocks abroad and the remainder into domestic-oriented products. Bond funds also attracted $4.1 billion. The holiday week marked the 56th in a row of inflows for taxable-bond and world stock funds. Investors have preferred those funds out of a belief that they can grow their investments and harvest income without over-committing to a U.S. stock market that has recorded nearly a decade of gains. The ICI data covers mutual funds and exchange-traded funds (ETFs) based in the United States. The S&P 500 index gained more than 19 percent in 2017, or nearly 22 percent if you count dividends, yet domestic equity funds posted outflows for the third straight year in 2017, according to preliminary data from Thomson Reuters' Lipper unit. Debt and non-domestic stock funds were strongly positive on the year. The following table shows estimated ICI flows for mutual funds and ETFs (all figures in million of dollars): 12/27 12/20 12/13 12/6 11/29/2017 Equity 4,106 -1,573 6,838 8,621 3,141 Domestic 1,208 -9,544 5,347 5,962 -640 World 2,898 7,971 1,491 2,659 3,782 Hybrid -940 -2,122 -1,419 -2,139 -651 Bond 4,104 1,608 5,015 6,161 6,533 Taxable 4,484 1,521 4,943 6,471 6,361 Municipal -381 87 72 -311 172 Commodity -296 -434 5 421 -295 Total 6,974 -2,522 10,438 13,064 8,728 (Reporting by Trevor Hunnicutt; Editing by Phil Berlowitz)
| NEW YORK, Jan 3 (Reuters- U.S. fund investors closed 2017 cautious stance, favoring bonds world stocks over equities home market, Investment Company Institute (ICI data showed Wednesday. Stock funds attracted $4.1 billion during week ended Dec.27,70 percent into funds on stocks abroad remainder domestic-oriented products. Bond funds attracted $4.1 billion. holiday week 56th inflows for taxable-bond world stock funds. Investors preferred funds belief can grow investments harvest income without over-committing to U.S. stock market recorded nearly decade of gains. ICI data covers mutual funds exchange-traded funds (ETFs based in United States. S&P 500 index gained 19 percent in 2017, or nearly 22 percent if count dividends, domestic equity funds posted outflows third straight year 2017, preliminary data Thomson Reuters' Lipper unit. Debt non-domestic stock funds positive year. table shows estimated ICI flows for mutual funds ETFs (all million dollars): 12/27 12/20 12/13 12/6 11/29/2017 Equity 4,106 -1,573 6,838 8,621 3,141 Domestic 1,208 -9,544 5,347 5,962 -640 World 2,898 7,971 1,491 2,659 3,782 Hybrid -940 -2,122 -1,419 -2,139 -651 Bond 4,104 1,608 5,015 6,161 6,533 Taxable 4,484 1,521 4,943 6,471 6,361 Municipal -381 87 72 -311 172 Commodity -296 -434 5 421 -295 Total 6,974 -2,522 10,438 13,064 8,728 (Reporting by Trevor Hunnicutt; Editing Phil Berlowitz)
| 0.4 |
CINCINNATI, Jan. 18, 2018 /PRNewswire/ -- As part of its continued national expansion, Fairway Wholesale Lending (a division of Fairway Independent Mortgage Corporation) is excited to welcome Kelly Scovanner as Regional Vice President of Sales for the Northeast Region . With over 30 years' experience recruiting, developing and mentoring billion dollar sales teams, Kelly will further Fairway's success in third party originations throughout the Mid-Atlantic and Northeast states . It is the culture and operational support that separates Fairway Wholesale Lending from its competition. Kelly's ability to train and coach team members makes her a valued addition to the Fairway family.
Kelly is looking for experienced Account Executives in several markets throughout her region, so please email Kelly or contact her at (513) 884.6618). Why Not Fairway?
For more information, please visit the Fairway website at www.FairwayIndependentMC.com .
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SOURCE Fairway Independent Mortgage Corporation | CINCINNATI, Jan.18,2018 /PRNewswire/ -- national expansion, Fairway Wholesale Lending division Fairway Independent Mortgage Corporation welcome Kelly Scovanner Regional Vice President of Sales Northeast Region.30 years' experience recruiting mentoring billion dollar sales teams Kelly further Fairway's success in third party originations Mid-Atlantic Northeast states. culture operational support separates Fairway Wholesale Lending competition. Kelly's ability train coach team members makes her valued addition Fairway family.
Kelly looking for experienced Account Executives in several markets region, email Kelly or contact her at (513) 884.6618). Fairway?
information visit Fairway website www.FairwayIndependentMC.com .
View original content multimedia: http://www.prnewswire.com/news-releases/kelly-scovanner-joins-fairway-wholesale-lending-300584228.html SOURCE Fairway Independent Mortgage Corporation | 0.5 |
WASHINGTON, Jan. 22, 2018 /PRNewswire/ -- Ankura announced today the completion of a strategic combination with Aegis Compliance & Ethics Center LLP , a pre-eminent US healthcare compliance services firm widely recognized for providing leading industrywide compliance and privacy-related services and for its strength in the clinical research arena.
Since 2002, Aegis has assisted over 300 organizations with compliance-related services. Aegis has worked with 20 percent of all US hospitals and provided services to more than half of existing US medical schools. Joining Ankura as senior managing directors are Brian D. Annulis , Julie Colasacco , Ryan D. Meade , Steven W. Ortquist , Michael C. Roach , and Debbie Troklus . Dwight Claustre , Lea Fourkiller , K. Jane Hohn , and Gregory Kerr also join Ankura as managing directors along with 47 other highly qualified professionals.
In addition to the team's healthcare and clinical research compliance expertise, Aegis brings a range of cross-industry compliance-related capabilities covering the spectrum of enterprise risk management, compliance and ethics, and monitoring and independent oversight services. The team, combined with Ankura's existing healthcare compliance services led by F. Lisa Murtha , gives Ankura the market-leading team to assist healthcare clients.
Ankura Chief Executive Officer Roger Carlile said, "This combination is another important step in Ankura's journey to build a unique business advisory firm, based on a collaborative culture and known for how we solve challenges. The Aegis team holds these same ideals and we are very pleased to have them join the growing Ankura community. Bringing this group of recognized experts together with our own healthcare compliance leaders expands Ankura's ability to serve clients as well as continue to build market-leading teams by attracting, developing, and retaining the very best talent."
Ms. Murtha stated, "Since first meeting Ryan Meade, I have watched Aegis develop into the strongest healthcare research compliance team in the industry. These subject-matter experts are also thought leaders who work closely with the Health Care Compliance Association and the Society of Corporate Compliance and Ethics, and many of them also actively participate as faculty at Loyola, Drexel and other major academic centers and law schools."
Mr. Meade added, "The future of healthcare is research and science. Helping our clients succeed in that future reality requires the addition of the broad range of skills found at Ankura. Integrating Aegis' expertise in healthcare with Ankura's, including its rich data analytics expertise, makes for a new capability never seen before in the market."
View original content with multimedia: http://www.prnewswire.com/news-releases/ankura-announces-strategic-combination-with-aegis-compliance--ethics-center-llp-300585798.html
SOURCE Ankura | WASHINGTON, Jan.22,2018 /PRNewswire Ankura announced strategic combination with Aegis Compliance& Ethics Center LLP, -eminent US healthcare compliance services firm compliance privacy services strength clinical research arena.
Since 2002, Aegis assisted 300 organizations with compliance services. worked with 20 percent US hospitals provided services half US medical schools. senior managing directors Brian D. Annulis Julie Colasacco Ryan D. Meade Steven W. Ortquist Michael C. Roach Debbie Troklus. Dwight Claustre Lea Fourkiller K. Jane Hohn Gregory Kerr join 47 other professionals.
healthcare compliance expertise Aegis brings cross-industry compliance capabilities enterprise risk management compliance ethics monitoring independent oversight services. team combined Ankura's healthcare compliance services by F. Lisa Murtha gives Ankura market-leading team assist healthcare clients.
Ankura Chief Executive Officer Roger Carlile said combination important step Ankura's build unique business advisory firm collaborative culture. Aegis team ideals join Ankura community. experts healthcare compliance leaders expands Ankura's ability serve clients build market-leading teams retaining best talent."
Murtha Aegis develop strongest healthcare research compliance team. experts work with Health Care Compliance Association Society of Corporate Compliance and Ethics participate faculty at Loyola Drexel major academic centers law schools."
future of healthcare is research science. clients succeed requires addition skills at Ankura. Integrating Aegis' expertise healthcare with Ankura's data analytics expertise makes new capability never seen market."
View original content with multimedia: http://www.prnewswire.com/news-releases/ankura-announces-strategic-combination-with-aegis-compliance--ethics-center-llp-300585798.html SOURCE Ankura | 0.7 |
CLEVELAND, Jan. 10, 2018 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the merger of Simonds International (Simonds), a portfolio company of Ironwood Manufacturing Fund and Nautic Partners, with Burton Saw and Supply (Burton), a portfolio company of Pfingsten Partners. BGL also assisted in a capital raise to support a recapitalization of the combined company. BGL's Industrials & Building Products team served as the exclusive financial advisor. Terms of the transaction were not disclosed.
The transaction creates the leading producer and marketer of cutting tools and related equipment for the wood processing industry. The combined entity will continue to leverage the Simonds, Burton, Cut Technologies, BGR, Armstrong, Wright, and Global Tooling brands and operate in the United States and Canada with 12 facilities strategically located in the major wood processing regions of North America.
Ray Martino, President and Chief Executive Officer of Simonds said: "BGL did an outstanding job bringing the companies together and supporting the merger. We are excited to partner with Burton to pursue the next stage of growth for our collective customers and employees."
Craig Tompkins, President and CEO of Burton said: "The merger brings together the strengths of two great companies with a common goal, efficient and innovative solutions to the industry we serve. We thank BGL for its efforts in this pivotal transaction."
To learn more about BGL's Industrials & Building Products Group , please visit: www.bglco.com/industrials
About Simonds International
Founded in 1832, Simonds International is a leading supplier and marketer of cutting tools and related products to the wood, pulp, paper, and tree care industries. Simonds merged with B.G.R. Saws in May 2017, expanding its offering to provide customers with a complete solution through products, services, and equipment. For more information, visit www.simondsint.com .
About Burton Saw and Supply
Burton Saw and Supply was founded in 1903 and is based in Eugene, Oregon. From its origins as a supplier of saw manufacturer supplies in Western Canada, the company transformed itself into a leading provider of products, equipment, and technical solutions to saw mills and wood product manufacturers throughout North America. For more information, visit www.burtonsaw.com .
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer & Retail, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, Philadelphia, San Antonio, and San Diego in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com .
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SOURCE Brown Gibbons Lang & Company | CLEVELAND, Jan.10,2018 /PRNewswire Brown Gibbons Lang& Company (BGL announce merger Simonds International (Simonds), portfolio Ironwood Manufacturing Fund Nautic Partners with Burton Saw and Supply (Burton), Pfingsten Partners. BGL assisted in capital raise recapitalization. BGL's Industrials& Building Products team financial advisor. Terms transaction not disclosed.
transaction creates leading producer marketer cutting tools equipment wood processing industry. entity leverage Simonds Burton, Cut Technologies BGR Armstrong Wright, Global Tooling brands operate United States Canada 12 facilities in major wood processing regions North America.
Ray Martino President Chief Executive Simonds "BGL outstanding supporting merger. excited to partner with Burton next growth employees."
Craig Tompkins President CEO Burton merger brings strengths companies goal efficient innovative solutions. thank BGL for transaction."
BGL's Industrials Building Products visit www.bglco.com/industrials
Simonds International
Founded 1832, Simonds supplier marketer cutting tools products wood pulp paper tree care industries. merged with B.G.R. Saws in May 2017, offering provide complete solution products services equipment. visit www.simondsint.com .
Burton Saw and Supply
founded 1903 Eugene, Oregon. supplier saw Canada leading provider products equipment technical solutions to saw mills wood product manufacturers North America. visit www.burtonsaw.com .
Brown Gibbons Lang& Company
Brown Gibbons Lang& Company leading independent investment bank middle market. BGL specializes in mergers acquisitions advisory services debt equity placements financial restructuring advice valuations fairness opinions global industry teams in Business Services Consumer& Retail Environmental Industrial Services Healthcare Life Sciences Industrials Real Estate. BGL offices in Chicago Cleveland Philadelphia San Antonio San Diego Global M&A partner offices in 50 countries 5 continents. BGL deliver clients access to strategic relationships investors opportunities globally. visit www.bglco.com .
View original content with multimedia: http://www.prnewswire.com/news-releases/bgl-announces-the-merger-of-simonds-international-and-burton-saw-and-supply-300580913.html SOURCE Brown Gibbons Lang& Company | 0.6 |
8 Hours Ago | 01:35
Delta Air Lines on Thursday posted fourth-quarter earnings that beat Wall Street's expectations, and it raised its 2018 guidance about 20 percent.
Fueling Delta's upbeat forecast was its ability to increase how much it generates from each seat it flies per mile, a key revenue metric. This rose 4 percent in the three months ended in December from a year earlier.
Passenger revenue increased in every region, though trans-Atlantic travel was a standout in the quarter with 9 percent growth on the year. Cargo revenue also surged, as consumer demand grew for speedy deliveries.
Delta's shares surged after the report and outlook from the airline's executives. Shares were trading 5 percent in afternoon trading.
For the quarter ended Dec. 31, the second-largest U.S. airline posted net income of $572 million, or 80 cents per share, a decline of 8 percent from the year-earlier period.
On an adjusted basis, Delta earned 96 cents per share on revenue of $10.25 billion. Analysts polled by Thomson Reuters expected earnings of 88 cents a share on revenue of $10.13 billion. Getty Images With the U.S. Capitol dome in the distance, a Delta airplane takes off from Ronald Reagan National Airport in Washington, DC.
Delta adjusted its earnings to include items such as its minority stakes in Virgin Atlantic and Aeromexico, as well as one-time charge of $150 million due to the tax law, which revalues its deferred tax assets. Delta, like some of its competitors, doesn't pay federal taxes due to previous years of losses. The lower corporate tax rate revalues those tax assets, which are used to offset owed taxes.
Delta raised its full-year estimates for 2018 from $6.35 a share to $6.70 a share because of benefits from the new tax law, the airline's CEO Ed Bastian said in a release. During an investor day last month, the airline forecast earnings per share for 2018 of $5.35 to $5.70 for 2018.
The new tax law will help the company offset some of the impact from higher fuel costs, Delta said. The airline said its fuel expenses rose more than 20 percent in the quarter.
On a call later Thursday, Delta executives will likely address the impact from a powerful winter storm and resulting travel chaos at New York's John F. Kennedy International Airport, a major hub for Delta, as well as an ongoing trade dispute between Delta suppliers Boeing and Canada's Bombardier.
Airline stocks had surged on Wednesday after Delta's rivals United Airlines and American Airlines , which report later this month, issued better-than-expected outlooks for passenger revenue. Leslie Josephs Airline Reporter for CNBC.com Related Securities | 8 Hours Ago| 01:35
Delta Air Lines fourth-quarter earnings beat Wall Street expectations raised 2018 guidance 20 percent. increase rose 4 percent three months December Passenger revenue increased trans-Atlantic 9 percent growth. Cargo revenue Delta's shares surged 5 percent..31 second-largest U.S. airline net income $572 million 80 cents per share decline 8 percent Delta earned 96 cents per share revenue $10.25 billion expected 88 cents revenue $10.13 billion. .S Ronald Reagan adjusted earnings minority stakes Virgin Atlantic Aeromexico $150 million tax law pay federal taxes revalues assets raised full-year estimates 2018 $6.35 to $6.70 new tax law Ed Bastian forecast earnings per share 2018 $5.35 to $5.70 2018. new tax law offset higher fuel costs airline fuel expenses rose 20 percent. Delta executives address impact winter storm travel chaos New York John F. Kennedy Airport trade dispute Boeing Canada Bombardier. Airline stocks surged Delta rivals United Airlines American Airlines better outlooks passenger revenue Leslie Josephs Airline Reporter CNBC Securities | 0.9 |
CVS Health Monday said it will ban photo manipulation in its store-brand makeup marketing and promotional displays, a move that acknowledges growing awareness of the harmful nature of touched-up images.
The nation's largest drugstore chain will also require other makeup and beauty brands that sell products in its aisles to commit to a photo-manipulation ban by 2020, or face having an alert label placed on the images.
With some 9,600 stores nationwide, CVS is one of the nation's largest sellers of beauty products, giving the company significant influence over makeup marketing.
CVS Pharmacy President Helena Foulkes, who made the official announcement at the National Retail Federation's convention in New York, said the decision reflects an acknowledgment that "unrealistic body images" are "a significant driver of health issues," especially among women. About 80% of the chain's customers are women.
"We're all consuming massive amounts of media every day and we're not necessarily looking at imagery that is real and true," Foulkes said in an interview. "To try to hold ourselves up to be like those women is impossible because even those women don't look like how they appear in those photographs."
The company's ban on image editing in its own beauty marketing, including store aisle displays and social media posts, is scheduled to take full effect by April 2019.
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For other suppliers, the retailer will place an icon with a "digitally modified" warning message on any marketing materials that don't comply with CVS' new standard by 2020. The company's largest beauty product suppliers include Procter & Gamble , Johnson & Johnson , Unilever, L'Oreal , Maybelline and CoverGirl owner Coty .
CVS says its $69-billion acquisition of the health insurer Aetna will help create a customer "front door" to health care through the chain's network stores. Some analysts see the move as CVS trying to get ahead of potential move by Amazon into the pharmaceutical market.
Images and products that haven't been changed will get a new label called the CVS Beauty Mark.
"If someone decides they still need to digitally modify a photograph, what we want is for girls and women in our stores to know that," Foulkes said.
The move puts pressure on major CVS store makeup sellers to follow suit. Early indications suggest that makeup manufacturers may do so.
"Revlon and all of the brands in our company's portfolio support CVS' mission to present positive and authentic images of women that reflect their individual characteristics and personal distinction," Revlon North America President John Collier said in an email.
Editing photos to improve women's appearance in beauty product marketing is "rampant" and "plagues our culture," said Jennifer Berger, executive director of San Francisco-based women's empowerment group About-Face.
"Look at any mascara ad and they'll show a super-duper close-up of a woman's face. No woman's face looks like that," she said.
Foulkes said the company's suppliers had an "inspiring" response to the company's decision.
"I think they're thinking about it too because the world is changing fast, social media is changing things and there's a sense of empowerment among young girls that didn't exist when I was growing up," she said.
Here's how Foulkes said CVS is defining its commitment not to "materially" touch up any images: "We will not digitally alter or change a person's shape, size, proportion, skin or eye color, or enhance or alter their lines or wrinkles or other individual characteristics."
Body-image issues resulting from misleading imagery contributes to a health crisis of eating disorders among young women, Berger said.
Some 20 million women and 10 million men in the U.S. will have an eating disorder at some point, according to the National Eating Disorders Association.
"The culture has been just totally awash in these idealized images of women," Berger said. "It makes us ashamed of our appearance so companies can sell their products."
To be sure, there may also be a pragmatic element to the move by CVS.
Foulkes acknowledged that the company's makeup sales have been weak. In contrast, upstart makeup brands that have bet on natural ingredients and imagery are surging.
Those competitor brands have shown that authenticity in a world overwhelmed by false imagery is especially appealing to consumers.
"Partly we were reflecting on why are these indie brands doing so well," Foulkes said. | CVS Health ban photo manipulation makeup marketing promotional displays awareness harmful images.
drugstore chain require makeup beauty brands commit photo-manipulation ban by 2020 alert label .
9,600 stores nationwide CVS largest beauty products influence makeup marketing.
CVS Pharmacy President Helena Foulkes "unrealistic body images health issues," especially women.80% customers women.
media women impossible photographs."
ban image editing media full effect by April 2019.
Aziz Ansari accused sexual misconduct CVS next-day delivery Amazon
limit opioid drug prescriptions amid epidemic
place icon "digitally on marketing materials 't comply CVS' standard by 2020 largest beauty product suppliers include Procter& Gamble Johnson& Johnson Unilever L'Oreal Maybelline CoverGirl .
CVS $69-billion acquisition health insurer Aetna create customer "front door health care. ahead potential Amazon pharmaceutical market.
Images products new label CVS Beauty Mark.
"If someone need digitally modify photograph want girls women know Foulkes puts pressure on major CVS makeup sellers suggest manufacturers may do so.
"Revlon brands support CVS' mission present positive images women reflect characteristics personal distinction," Revlon North America President John Collier email.
Editing photos improve women's appearance marketing "plagues culture," Jennifer Berger director 's About-Face.
mascara ad show -duper close-up woman's face. suppliers response world social media empowerment young girls CVS commitment not to touch up images not digitally alter change shape size skin eye color enhance lines wrinkles characteristics."
Body-image issues misleading imagery contributes health crisis eating disorders young women .
20 million women 10 million men U.S. have eating disorder National Eating Disorders Association.
culture awash in idealized images women," makes us ashamed of appearance companies sell products."
pragmatic element move CVS.
company's makeup sales weak. upstart brands bet natural ingredients imagery surging.
shown authenticity false imagery appealing .
indie brands well," | 0.8 |
IRVINE, Calif., Jan. 15, 2018 /PRNewswire/ -- Nitto Avecia Pharma Services, Inc. (Avecia Pharma), a leading CGMP contract development and manufacturing organization (CDMO), announced today that it has appointed Raymond Kaczmarek to the position of President. Mr. Kaczmarek will have full P&L responsibility for the entire organization.
Detlef Rethage, President of parent company, Nitto Denko Avecia, Inc., stated, "We are excited to welcome Ray to Avecia Pharma. We are confident that with his proven leadership, knowledge and experience in a broad spectrum of drug development activities, Ray will continue to further strengthen and grow the business and meet the needs of our clients."
Mr. Kaczmarek joins the organization with nearly 20 years of extensive experience in operations management within the pharmaceutical and biopharmaceutical industries. He most recently served as Vice President, Commercial Manufacturing and Supply Operations at Pacira Pharmaceuticals, Inc., located in San Diego, California. His proven leadership in strategic manufacturing management, for both clinical and commercial manufacturing, makes him perfectly suited to contribute to the future success of the company. In addition to working for Pacira, Mr. Kaczmarek has held management positions in such companies as Bayer Biologics, Abbott Laboratories, Boehringer-Ingelheim, Covidien, Athersys, and Wyeth Biotech.
Mr. Kaczmarek explained, "It is truly a privilege to lead this wonderful team at Avecia Pharma as we continue to enhance its capabilities as a full service CDMO. I look forward to our future development of the Irvine campus, strengthening our service capabilities, and above all, providing outstanding outcomes for our clients."
Mr. Kaczmarek earned a Bachelor of Science degree in Biology from Virginia Polytechnic Institute and State University (Virginia Tech). He is also a proud veteran who served our country as a combat engineering officer in the US ARMY Corps of Engineers.
ABOUT NITTO AVECIA PHARMA SERVICES INC.
Nitto Avecia Pharma Services is your single solution for premier contract development and manufacturing services. Nitto Avecia Pharma Services supports the pharmaceutical, biopharmaceutical, and medical device industries with a complete package of CGMP services including pre-formulation/formulation, parenteral manufacturing, analytical development, biopharmaceutical development, structural chemistry, analytical chemistry, microbiology, stability storage and drug delivery device testing. With three state-of-the-art facilities located on one campus in Irvine, CA. Learn more at www.aveciapharma.com
ABOUT NITTO DENKO AVECIA INC.
Nitto Denko Avecia Inc. is a recognized leader in manufacturing and development services of oligonucleotide therapeutic with facilities located in Milford, MA.; Marlboro, MA.; and Cincinnati OH offering services for DNA, RNA and other oligonucleotides based therapeutics from milligram scale at pre-clinical stage to 1000kg + post commercial launch. More information: www.Avecia.com . Nitto Denko Avecia is proud member of Nitto Group. More information: www.Nitto.com
View original content with multimedia: http://www.prnewswire.com/news-releases/nitto-avecia-pharma-services-appoints-raymond-kaczmarek-as-president-300582186.html
SOURCE Nitto Avecia Pharma Services | IRVINE, Calif., Jan.15,2018 /PRNewswire/ -- Nitto Avecia Pharma Services, Inc. (Avecia Pharma), leading CGMP contract development and manufacturing organization (CDMO), announced today appointed Raymond Kaczmarek to position President. Kaczmarek will have full P&L responsibility for entire organization.
Detlef Rethage, President of parent company, Nitto Denko Avecia, Inc., stated, "We excited to welcome Ray to Avecia Pharma. confident with his leadership, knowledge experience in broad drug development activities, Ray will continue to strengthen grow business meet needs clients."
Kaczmarek joins organization with 20 years of extensive experience in operations management pharmaceutical and biopharmaceutical industries. recently served as Vice President, Commercial Manufacturing and Supply Operations at Pacira Pharmaceuticals, Inc., in San Diego, California. His leadership in strategic manufacturing management for clinical and commercial manufacturing, makes him suited to contribute to future success company. working for Pacira, Kaczmarek has held management positions in companies Bayer Biologics, Abbott Laboratories, Boehringer-Ingelheim, Covidien, Athersys, Wyeth Biotech.
Kaczmarek explained "It privilege to lead this team at Avecia Pharma enhance its capabilities as full service CDMO. look forward to future development of Irvine campus, strengthening service capabilities, providing outstanding outcomes for clients."
Kaczmarek earned Bachelor of Science degree in Biology from Virginia Polytechnic Institute and State University (Virginia Tech). proud veteran served country as combat engineering officer in US ARMY Corps of Engineers.
ABOUT NITTO AVECIA PHARMA SERVICES INC.
Nitto Avecia Pharma Services is your single solution for premier contract development and manufacturing services. Avecia Pharma Services supports pharmaceutical, biopharmaceutical, medical device industries with complete package of CGMP services including pre-formulation/formulation, parenteral manufacturing, analytical development, biopharmaceutical development, structural chemistry, analytical chemistry, microbiology, stability storage drug delivery device testing. three state-of-the-art facilities on one campus in Irvine, CA. Learn at www.aveciapharma.com
ABOUT NITTO DENKO AVECIA INC.
Nitto Denko Avecia Inc. leader in manufacturing development of oligonucleotide therapeutic with facilities in Milford, MA.; Marlboro, MA.; Cincinnati OH offering for DNA, RNA other oligonucleotides based therapeutics from milligram scale pre-clinical stage to 1000kg+ post commercial launch. www.Avecia.com. Nitto Denko Avecia proud member of Nitto Group. www.Nitto.com
View original content with multimedia: http://www.prnewswire.com/news-releases/nitto-avecia-pharma-services-appoints-raymond-kaczmarek-as-president-300582186.html SOURCE Nitto Avecia Pharma Services | 0.1 |
7 Hours Ago | 02:20
Goldman Sachs on Wednesday reported fourth-quarter earnings of $5.68 a share that topped Wall Street estimates. The company posted a net loss when factoring in a tax hit, largely because of a one-time charge for bringing overseas profits back to the U.S.
The investment bank titan also beat on revenue, reporting $7.83 billion against estimates of $7.61 billion.
However, trading revenues in the critical fixed income, currencies and commodities space plunged, falling 50 percent from a year ago. Trading revenue overall was down 34 percent.
The numbers come as Goldman looks to transition out of its long-time perch atop the trading business into other lines. Mergers and acquisitions continues to be a mainstay for the firm as it held its No.1 ranking on Wall Street, but the move away from the core business is coming with a cost.
Shares fell more than 2 percent on Wednesday as investors reacted to the poor trading results, as well as an update on the bank's tax rate this year. Goldman executives said on conference call that its effective tax rate will be 24 percent, higher than some on Wall Street had assumed would be the case in the wake of the tax reform bill.
The stock is up just 5.8 percent over the past year, during a time when the S&P 500 surged 22 percent as investors have been slow to warm to the new Goldman business model.
"That FICC trading number was shocking," Gerard Cassidy, managing director at RBC Capital Markets, told CNBC. "Their FICC trading numbers are so much weaker than their competitors."
In a news release, Goldman said trading was "a challenging environment characterized by low levels of volatility and low client activity." Equities revenue also fell by 14 percent.
"Last year, we delivered higher revenue and stronger pre-tax margins despite a challenging environment for our market-making businesses," Lloyd C. Blankfein, Goldman's chairman and CEO, said in a statement.
"With the global economy poised to accelerate, new U.S. tax legislation providing tailwinds and a leading franchise across our businesses, we are well positioned to serve our clients and make significant progress on the growth plan we outlined in September," he added.
Like its peers on Wall Street, Goldman had to take a paper writedown due to the tax reform legislation Congress passed in December. Including its $4.4 billion tax hit, the firm suffered a loss of $5.51 a share.
Goldman did see a stellar quarter in its investment banking operations, which saw $2.14 billion in net revenues for the quarter and $7.37 billion for a year, its second best ever.
Investment management also continued to be strong, producing $1.66 billion for the quarter, a 4 percent gain from 2016, with the full-year total of $6.22 billion reflecting a 7 percent increase. | 7 Hours Ago| 02:20
Goldman Sachs Wednesday reported fourth-quarter earnings $5.68 a share topped Wall Street estimates. company posted net loss factoring in tax hit because of one-time charge for bringing overseas profits back to U.S.
investment bank titan beat on revenue reporting $7.83 billion against estimates $7.61 billion.
trading revenues in fixed income, currencies and commodities space plunged, falling 50 percent from a year ago. Trading revenue down 34 percent.
numbers come as Goldman to transition out long-time perch trading business into other lines. Mergers and acquisitions mainstay for firm held No.1 ranking on Wall Street, but move away from core business is coming with cost.
Shares fell more than 2 percent Wednesday as investors reacted to poor trading results update on bank's tax rate this year. Goldman executives said effective tax rate will be 24 percent, higher than Wall Street assumed in tax reform bill.
stock up 5.8 percent over past year, S&P 500 surged 22 percent as investors slow to warm to new Goldman business model.
"That FICC trading number shocking," Gerard Cassidy managing director at RBC Capital Markets told CNBC. "Their FICC numbers weaker than competitors."
news Goldman said trading "a challenging environment low levels volatility low client activity." Equities revenue fell by 14 percent.
"Last year delivered higher revenue stronger pre-tax margins despite challenging environment for market-making businesses," Lloyd C. Blankfein, Goldman's chairman and CEO said statement.
"With global economy accelerate, new U.S. tax legislation tailwinds leading franchise across businesses, well positioned to serve clients make significant progress on growth plan in September," added.
Like peers on Wall Street Goldman take paper writedown due to tax reform legislation Congress passed December. Including $4.4 billion tax hit, firm suffered loss of $5.51 a share.
Goldman see stellar quarter in investment banking operations $2.14 billion net revenues for quarter $7.37 billion for a year, second best ever.
Investment management strong, producing $1.66 billion for quarter,4 percent gain from 2016, full-year total of $6.22 billion 7 percent increase. | 0.2 |
* Canadian dollar at C$1.2488, or 80.08 U.S. cents * Bond prices lower across much of a steeper yield curve TORONTO, Jan 10 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Wednesday, as investors continued to take profit after recent gains even as the greenback broadly fell and oil prices rose. At 9:33 a.m. EST (1433 GMT), the Canadian dollar was trading at C$1.2488 to the greenback, or 80.08 U.S. cents, down 0.2 percent. The currency traded in a range of C$1.2428 to C$1.2494. The loonie has retreated after hitting its strongest in three months on Friday at C$1.2355 as investors await a Bank of Canada interest rate decision next week. Stronger-than-expected domestic jobs data on Friday and a business survey on Monday that showed optimism have helped lift the chances of a rate hike on Jan. 17 to about 80 percent. Losses for the loonie come amid increased worries that the North American Free Trade Agreement could be scrapped. Canada sends about 75 percent of its exports to the United States. The price of oil, one of Canada's major exports, reached new multi-year highs as OPEC-led production cuts and healthy demand helped balance the market. U.S. crude prices were up 0.7 percent at $63.38 a barrel. The U.S. dollar slumped after a report that China was ready to slow or halt its U.S. Treasury purchases, with the greenback posting its biggest single-day drop against the Japanese yen in nearly eight months. The value of Canadian building permits fell by 7.7 percent in November from October, Statistics Canada said. Analysts surveyed by Reuters had expected a decrease of 0.3 percent. Canadian government bond prices were lower across much of a steeper yield curve in sympathy with U.S. Treasuries. The 10-year , which fell 13 Canadian cents to yield 2.222 percent, touched its highest intraday yield since September 2014 at 2.231 percent. (Reporting by Fergal Smith; Editing by Meredith Mazzilli)
Our Standards: The Thomson Reuters Trust Principles. | Canadian dollar at C$1.2488, or 80.08 U.S. cents* Bond prices lower across steeper yield curve TORONTO Jan 10 (Reuters- Canadian dollar edged lower against U.S. counterpart Wednesday, investors continued to take profit after recent gains greenback fell oil prices rose. At 9:33 a.m. EST (1433 GMT), Canadian dollar trading at C$1.2488 to greenback, or 80.08 U.S. cents, down 0.2 percent. currency traded in range C$1.2428 to C$1.2494. loonie retreated after hitting strongest in three months Friday at C$1.2355 investors await Bank of Canada interest rate decision next week. domestic jobs data business survey Monday showed optimism lift chances of rate hike on Jan.17 to 80 percent. Losses for loonie amid worries North American Free Trade Agreement could be scrapped. Canada sends 75 percent exports to United States. price of oil Canada's major exports, reached multi-year highs OPEC-led production cuts healthy demand balance market. U.S. crude prices up 0.7 percent at $63.38 a barrel. U.S. dollar slumped after report China ready to slow or halt U.S. Treasury purchases, greenback biggest single-day drop against Japanese yen eight months. value of Canadian building permits fell by 7.7 percent in November from October, Statistics Canada said. Analysts Reuters expected decrease of 0.3 percent. Canadian government bond prices lower across steeper yield curve in sympathy with U.S. Treasuries.10-year, fell 13 Canadian cents to yield 2.222 percent, touched highest intraday yield since September 2014 at 2.231 percent. (Reporting by Fergal Smith; Editing Meredith Mazzilli)
Standards Thomson Reuters Trust Principles. | 0.3 |
LOS ANGELES, Jan. 16, 2018 /PRNewswire/ -- Lockton, the world's largest privately held independent insurance broker, has promoted Nate Mundy to senior vice president and chief operating officer of its Pacific operations in the US. Mundy succeeds Gary Petrosino, a 40-year industry veteran who is retiring.
"Nate is a respected leader and innovator who has a keen understanding of Lockton's value to clients," said Tim Noonan, CEO of Lockton's Pacific operations. "He embodies our values and culture, including our entrepreneurial mindset and performance-driven approach, which will help us drive continued growth in the Pacific Series."
Mundy has more than 13 years of experience with Lockton and most recently held the position of senior vice president of operations of the Pacific Series. He has served in various client service and business development support roles at Lockton, including as a member of the merger and acquisition team (PECAP) in New York. Mundy started his insurance career as a trainee with Jardine Lloyd Thompson (JLT) in London. He is a graduate of the University of Kansas.
"Gary Petrosino is a tremendous leader and an industry icon," adds Noonan. "He has served Lockton, our clients and the industry with integrity and distinction. We wish him and his wife Judy all the best as they begin their next chapter."
Petrosino joined Lockton as COO of the Pacific Series in 2016 after serving more than 35 years in underwriting and leadership roles at Chubb. He was executive vice president and western US field operations officer for Chubb when he joined Lockton.
Lockton's Pacific operation includes offices in Los Angeles, San Diego, Orange County, San Fernando Valley, San Francisco, Sacramento, Seattle and Portland. Lockton's 600 Pacific Associates serve a wide array of clients with advice and support on commercial insurance, employee benefits and retirement services.
About Lockton
Lockton is a global professional services firm with 6,500 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world's largest privately held, independent insurance broker by helping clients achieve their business objectives.
For nine consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance."
View original content with multimedia: http://www.prnewswire.com/news-releases/mundy-promoted-to-chief-operating-officer-of-locktons-pacific-operations-in-us-300582836.html
SOURCE Lockton | LOS ANGELES, Jan.16,2018 /PRNewswire/ Lockton world's largest privately independent insurance broker promoted Nate Mundy to senior vice president chief operating officer Pacific operations US. Mundy succeeds Gary Petrosino 40-year industry veteran retiring.
"Nate respected leader innovator understanding Lockton's value clients," Tim Noonan CEO Lockton's Pacific operations. embodies values culture entrepreneurial mindset performance-driven approach drive growth Pacific Series."
Mundy 13 years experience Lockton senior vice president Pacific Series served client service business development support roles Lockton member merger and acquisition team (PECAP New York. Mundy started insurance career trainee Jardine Lloyd Thompson (JLT) London graduate University of Kansas.
"Gary Petrosino is leader industry icon," served Lockton clients industry with integrity distinction. wish him wife Judy best next chapter."
Petrosino joined Lockton as COO of Pacific Series 2016 35 years underwriting leadership roles Chubb. executive vice president western US field operations officer for Chubb Lockton.
Lockton's Pacific operation includes offices in Los Angeles, San Diego, Orange County San Fernando Valley San Francisco Sacramento Seattle Portland. 's 600 Pacific Associates serve clients advice support on commercial insurance employee benefits retirement services.
Lockton
Lockton global professional services firm with 6,500 Associates advise clients protecting people property reputations. world's largest privately held independent insurance broker helping clients achieve business objectives.
nine years Business Insurance magazine recognized Lockton as "Best Place to Work in Insurance."
View original content multimedia: http://www.prnewswire.com/news-releases/mundy-promoted-to-chief-operating-officer-of-locktons-pacific-operations-in-us-300582836.html SOURCE Lockton | 0.4 |
(Recasts with letter from U.S. public pension funds trustee, adds closing share prices, other details)
VANCOUVER, Jan 29 (Reuters) - Shares of mine developer Northern Dynasty Minerals Ltd fell more than 20 percent on Monday, the first trading day after a U.S. regulator's surprise move to keep restrictions on the company's big copper and gold mine project in Alaska.
The U.S. Environmental Protection Agency reversed itself on Friday by maintaining restrictions on the proposed Pebble copper and gold mine in southwest Alaska's Bristol Bay region, saying it needed more time to assess the project's impact on the environment and area fisheries.
Pebble holds one of the world's largest undeveloped copper and gold deposits. Its development, near one of the biggest sockeye salmon fisheries on earth, has been fiercely opposed by environmentalists, native groups and fisherman for years.
Also on Monday, pressure mounted on First Quantum Minerals , a potential partner on Pebble, to cut its ties with the project. First Quantum shares closed 2.5 percent lower at C$18.40 in Toronto trading.
Both Northern Dynasty and EPA Administrator Scott Pruitt said on Friday the move would not derail the Pebble mine's permit application process. But it was the first sign the project's path may not be as smooth under the mining-friendly Trump administration as some analysts and the company had predicted.
John Chiang, a trustee of the California Public Employees' Retirement System and the California State Teachers' Retirement System, on Monday sent a letter to First Quantum requesting it to cut ties with Northern Dynasty and Pebble.
The two large U.S. public pension funds are shareholders of First Quantum, a Canadian miner which last month agreed to consider becoming a partner in Pebble to help fund the multibillion-dollar project.
"I am concerned that the Pebble Mine operation will trigger unavoidable significant environmental and social damage, infringe on the rights of indigenous peoples and raise a host of regulatory, operational, legal, and reputational risks for any company that pursues the endeavor," Chiang said in the letter, a copy of which was seen by Reuters.
First Quantum did not respond to a request for comment.
Northern Dynasty's U.S.-listed shares closed down nearly 22 percent at $1.20. In Toronto, the stock fell 20 percent to C$1.50 after dropping as low as C$1.39.
EPA REVERSAL
Northern Dynasty shares had quadrupled in the months after Donald Trump won the 2016 U.S. presidential election on expectations the long-stalled project would face an easier road under an administration keen to reduce environmental regulations to benefit business.
That view gathered steam when in May 2017 the EPA agreed that Pebble's permitting process would be reviewed in a "fair, transparent" way.
Under former President Barack Obama, the EPA in 2014 unveiled proposals to limit large-scale mining in the Bristol Bay area, even before Northern Dynasty had started the permitting process, citing environmental concerns.
Last July, new EPA head and Trump-appointee Pruitt began a process to withdraw the restrictions. But on Friday, Pruitt said he was suspending that process. "It is my judgment at this time that any mining projects in the region likely pose a risk to the abundant natural resources that exist there," he said.
Environmental groups applauded the move but Northern Dynasty Chief Executive Officer Ron Thiessen downplayed Pruitt's about-face, saying the May 2017 EPA agreement is what "drives everything.
"From my perspective this has done nothing to us ... This in no way impairs or jeopardizes the (permit) process," he said in an interview late on Saturday.
Northern Dynasty last month started the permitting process for Pebble and is studying a smaller mine design than before.
Chris Mancini, research analyst at Gabelli Funds, which owns Northern Dynasty shares, said he was "hopeful" that the Pebble project "can be built in such a way that the fishery will not be negatively impacted." ($1 = C$1.23) (Reporting by Nicole Mordant in Vancouver; additional reporting by Yereth Rosen in Anchorage; Editing by Jeffrey Benkoe and Matthew Lewis) | (Recasts with letter from U.S. public pension funds trustee, adds closing share prices, details VANCOUVER Jan 29 (Reuters Shares Northern Dynasty Minerals Ltd fell 20 percent Monday first trading day after U.S. regulator's surprise move keep restrictions company's big copper gold mine project Alaska.
U.S. Environmental Protection Agency reversed Friday restrictions Pebble copper gold mine southwest Alaska's Bristol Bay needed more time to assess project's impact environment fisheries.
Pebble holds world's largest undeveloped copper gold deposits. development near biggest sockeye salmon fisheries opposed by environmentalists native groups fisherman .
Monday pressure on First Quantum Minerals potential partner Pebble to cut ties project. First Quantum shares closed 2.5 percent lower at C$18.40 Toronto trading.
Northern Dynasty EPA Administrator Scott Pruitt said move would not derail Pebble mine's permit application process. first sign project's path may not be smooth under mining-friendly Trump administration .
John Chiang trustee of California Public Employees' Retirement System California State Teachers' Retirement System sent letter to First Quantum requesting cut ties with Northern Dynasty Pebble.
U.S. public pension funds shareholders of First Quantum, Canadian miner agreed partner Pebble multibillion-dollar project.
concerned Pebble Mine operation will trigger environmental social damage infringe rights indigenous peoples raise regulatory operational legal reputational risks for company endeavor," Chiang letter .
First Quantum not respond comment.
Northern Dynasty's U.S.-listed shares closed down 22 percent at $1.20. Toronto stock fell 20 percent to C$1.50 after dropping low C$1.39.
EPA REVERSAL
Northern Dynasty shares quadrupled after Donald Trump won 2016 U.S. presidential election expectations project easier under administration reduce environmental regulations benefit business.
May 2017 EPA agreed Pebble's process reviewed "fair, transparent .
Under former President Barack Obama EPA 2014 unveiled proposals to limit large-scale mining Bristol Bay before Northern Dynasty process citing environmental concerns.
Last July new EPA head Trump-appointee Pruitt began process to withdraw restrictions. Friday Pruitt said suspending process. "It mining projects region likely risk to natural resources there," said.
Environmental groups applauded move but Northern Dynasty Chief Executive Officer Ron Thiessen downplayed Pruitt's May 2017 EPA agreement "drives everything.
nothing no impairs or jeopardizes (permit process," .
Northern Dynasty started permitting process for Pebble studying smaller mine design .
Chris Mancini, research analyst at Gabelli Funds owns Northern Dynasty shares "hopeful Pebble project "can be built fishery not negatively impacted." ($1= C$1.23) (Reporting by Nicole Mordant Vancouver; additional Yereth Rosen Anchorage; Editing by Jeffrey Benkoe Matthew Lewis) | 0.5 |
NEW YORK, S&P Global's (NYSE: SPGI) fourth quarter and full-year 2017 results will be issued on Tuesday, February 6, 2018, via news release at approximately 7:15 a.m. Eastern Time. The news release will be available at www.spglobal.com .
Douglas L. Peterson, President and CEO; Ewout Steenbergen, Executive Vice President and CFO; and Chip Merritt, Vice President, Investor Relations, will host a conference call/webcast at 8:30 a.m. Eastern Time on February 6, 2018, to discuss the Company's fourth quarter and full-year 2017 results. The presentation is open to all interested parties and may include forward-looking information.
Webcast Instructions: Live and Replay
The webcast will be available live and as an archived replay through the Company's Investor Relations website at http://investor.spglobal.com/Quarterly-Earnings (please copy and paste URL into web browser). The archived replay will be available beginning two hours after the conclusion of the live call and will remain available for one year.
Telephone Access: Live and Replay
The call begins at 8:30 a.m. Eastern Time. Please dial in by 8:20 a.m.
- For callers in the U.S.: (888) 391-6568
- For callers outside the U.S.: +1 (415) 228-4733 (long distance charges will apply)
- The conference passcode is "S&P Global"
The recorded telephone replay will be available beginning two hours after the conclusion of the call and will remain available until March 5, 2018.
- For callers in the U.S.: (866) 429-0569
- For callers outside the U.S.: +1 (203) 369-0911 (long distance charges will apply)
Presenters' Slides & Remarks
The presenters' slides will be made available for downloading at the conclusion of the call. The final remarks will be available for downloading the following day. For these documents and any additional information provided during the presentation, go to http://investor.spglobal.com/Quarterly-Earnings .
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information visit www.spglobal.com .
Investor Relations: http://investor.spglobal.com
Get news direct via RSS:
http://investor.spglobal.com/RSS-Feeds/Index?keyGenPage=1073751617
CONTACTS
Investor Relations:
Chip Merritt
Vice President, Investor Relations
(212) 438-4321 (office)
chip.merritt@spglobal.com
For questions regarding call access:
Celeste M. Hughes
Senior Manager, Communications and Shareholder Relations
(212) 438-2192 (office)
celeste.hughes@spglobal.com
News Media:
Jason Feuchtwanger
Director, Corporate Media Relations
(212) 438-1247 (office)
(347) 419-4169 (mobile)
jason.feuchtwanger@spglobal.com
: releases/sp-global-schedules-4th-quarter--full-year-2017-earnings-announcementconference-call-for-tuesday-february-6-2018-300583414.html
SOURCE S&P Global | NEW YORK S&P Global's (NYSE SPGI) fourth quarter full-year 2017 results issued Tuesday February 6,2018, news release 7:15 a.m. Eastern Time. news release available www.spglobal.com .
Douglas L. Peterson, President CEO Ewout Steenbergen, Executive Vice President CFO; Chip Merritt, Vice President, Investor Relations, host conference call/webcast 8:30 a.m. Eastern Time February 6,2018 discuss Company's fourth quarter full-year 2017 results. presentation open to all interested parties may include forward-looking information.
Webcast Instructions: Live Replay
webcast available live archived replay through Company's Investor Relations website http://investor.spglobal.com/Quarterly-Earnings copy paste URL web browser). replay available two hours after conclusion live call remain one year.
Telephone Access: Live Replay
call begins 8:30 a.m. Eastern Time. dial in by 8:20 a.m.
callers U.S.: (888) 391-6568
outside U.S.: +1 (415) 228-4733 (long distance charges )
conference passcode "S&P Global"
telephone replay two hours after conclusion call until March 5,2018.
U.S.: (866) 429-0569
outside U.S.: +1 (203) 369-0911 (long distance charges )
Presenters' Slides& Remarks
presenters' slides available for downloading at conclusion call. final remarks available downloading day. documents additional information during presentation go http://investor.spglobal.com/Quarterly-Earnings About S&P Global
S&P Global leading provider of transparent independent ratings benchmarks analytics to capital commodity markets worldwide. divisions include S&P Global Ratings Market Intelligence &P Dow Jones Indices S&P Global Platts. has 20,000 employees in 31 countries. visit www.spglobal.com .
Investor Relations: http://investor.spglobal.com Get news direct via RSS:
http://investor.spglobal.com/RSS-Feeds/Index?keyGenPage=1073751617 CONTACTS
Investor Relations:
Chip Merritt
Vice President, Investor Relations
(212) 438-4321 (office chip.merritt@spglobal.com
questions call access:
Celeste M. Hughes
Senior Manager, Communications Shareholder Relations
(212) 438-2192 (office)
celeste.hughes@spglobal.com
News Media:
Jason Feuchtwanger
Director, Corporate Media Relations
(212) 438-1247 (office)
(347) 419-4169 (mobile)
jason.feuchtwanger@spglobal.com
: releases/sp-global-schedules-4th-quarter--full-year-2017-earnings-announcementconference-call-for-tuesday-february-6-2018-300583414.html
SOURCE S&P Global | 0.6 |
Threats of a potential cryptocurrency trading ban in South Korea have scared many investors away, but some veterans of the young market are defiant, saying restrictions would be relatively easy to circumvent.
Although the cryptocurrency market lost about $200 billion this week, or a third of its value, these investors - known within the community as "hodlers" after a misspelled meme that went viral during Bitcoin's early days - are used to rollercoaster rides.
China's shutdown of local exchanges in September, for instance, caused a 50 percent drop in Bitcoin, but prices rebounded eight-fold to almost $20,000. Currently valued around $10,000, Bitcoin could be poised for a similar whirlwind this time around, some say.
"In case the government shuts down all local exchanges,investors can always go abroad and open an account there," said a South Korean student who declined to be named because of legal risks. "I can ask my friends who study abroad or travel there myself. It's not that big of a problem."
Cryptocurrency experts say the student probably has good reason to be relaxed. A ban could discourage new market entrants, but the anonymity of buyers and sellers and the ability to move digital assets anywhere in the world with a click makes it hard to impose restrictions on existing participants without a global consensus.
Places like Singapore and Hong Kong maintain light regulations, while neighboring Japan has encouraged a vast ecosystem of companies and investors around digital assets by pioneering a set of rules for the industry. Germany has said national restrictions may be useless.
VPNs, offline wallets According to industry experts, the first step to circumventing a ban is hiding IP addresses from authorities via virtual private networks (VPNs).
Traders can then continue business as usual. Decentralized exchanges, such as Shapeshift or Stellar Dex, do not require identification and can be accessed from anywhere.
Cryptocurrency wallets such as Exodus and Jaxx are linked to such exchanges, so trading and storing the assets can still be anonymous. Authorities in countries with strong legal protections may need a warrant to check computers or smartphones for proof of such activity.
show chapters Bitcoin expert: More regulations will help legitimize digital currencies 17 Hours Ago | 05:39 Even then, unless caught in the act, the holder can claim no trading has taken place since the legislation was approved and has forgotten the password for the wallet.
Some decentralized exchanges offer derivative products that allow betting on the price of a cryptocurrency against a fiat currency, including the Korean won and Chinese yuan. But cashing out in fiat is not possible on such exchanges.
An option in that case is to trade all cryptocurrencies for a top one such as Bitcoin, Ethereum or Litecoin, and sell it at one the 2,064 crypto ATMs in 61 countries, although the transaction fees can exceed 10 percent. If need be, coins can be stored on offline "wallets" the size of a USB stick.
Alternatively, holders can open bank accounts in countries that have not banned Bitcoin, then join a local centralized exchange where they can trade cryptocurrencies for fiat.
"I hold everything in a hard wallet the size of my thumb. I have copies of my private keys in a safe. I have accounts on four exchanges on three continents. If any government wants my money, good luck to them," said a Hong Kong-based investor who claims to hold "about $1 million" in various cryptocurrencies.
Crossing borders A 30-year-old nurse in Seoul said she had already switched to Hong Kong-based exchange Binance before the government's warnings hit the market. Company officers at Seoul-based exchanges say, anecdotally, such moves have accelerated.
"All this could lead to serious money outflow and only the government is not aware of it," one officer said, requesting anonymity.
South Korea accounts for between 5 and 15 percent of daily Bitcoin trading. The value of all Bitcoins is around $200 billion.
If opening accounts overseas proves difficult, friends,family or the local Bitcoin community can help. Another option is to find someone with access to an exchange - preferably using encrypted social media apps such as Whatsapp or Telegram - and sell to them at a discount. But fraud is a risk.
"There could be a black market where people who can cash out offshore can pay you in won for your Bitcoins," said Aurelian Menant, chief executive of Hong-Kong based exchange Gatecoin.
But that leaves the door open to "dodgy stuff," Menant said, adding that the fear of scams in the aftermath of a ban may deter new investors, potentially shrinking Korean trading volumes "from billions to millions."
show chapters Coindesk's research head breaks down crypto investing trends 1:42 PM ET Wed, 17 Jan 2018 | 04:48 | Threats potential cryptocurrency trading ban South Korea scared investors veterans defiant restrictions easy circumvent.
cryptocurrency market lost $200 billion third investors "hodlers" rides.
China's shutdown September caused 50 percent drop Bitcoin prices rebounded to $20,000. $10,000 Bitcoin could similar .
,investors can go abroad open account South Korean student legal risks ask friends problem."
Cryptocurrency experts reason. ban could discourage market entrants anonymity buyers sellers move digital assets hard impose restrictions global consensus.
Singapore Hong Kong maintain light regulations Japan encouraged companies investors digital. Germany national restrictions useless.
VPNs offline ban hiding IP addresses virtual networks (VPNs).
Traders can continue business. Decentralized exchanges Shapeshift Stellar Dex .
Cryptocurrency wallets Exodus Jaxx linked exchanges trading assets anonymous. Authorities legal may need warrant check computers proof .
Bitcoin expert: More regulations legitimize digital currencies 17 Hours Ago 05:39 unless holder can claim no trading since legislation forgotten password .
decentralized exchanges offer derivative products betting price cryptocurrency against fiat currency, including Korean won Chinese yuan. cashing in fiat not possible on .
option trade all cryptocurrencies for such Bitcoin Ethereum Litecoin sell at 2,064 crypto ATMs in 61 countries transaction fees can exceed 10 percent. coins stored on offline "wallets .
holders open bank accounts in countries banned Bitcoin join local exchange trade cryptocurrencies for fiat.
hold in hard wallet private keys accounts on four exchanges three continents. government wants money Hong Kong investor hold $1 million in cryptocurrencies.
nurse switched to Binance before government's warnings market. moves accelerated could lead to serious money outflow South Korea accounts 5 and 15 percent of daily Bitcoin trading value around $200 billion.
If accounts difficult friends,family local Bitcoin community can help. option find access exchange social sell at discount. fraud is risk.
black market cash offshore pay in for Bitcoins," Aurelian Menant chief executive Gatecoin.
fear of scams ban may deter new investors shrinking Korean trading volumes millions."
show chapters Coindesk's research head crypto investing trends 1:42 PM ET Wed 17 Jan 2018| 04:48 | 0.7 |
HOUSTON, Jan. 29, 2018 /PRNewswire/ -- Quintana Energy Services Inc. (NYSE: QES) ("QES" or the "Company") announced today that it has launched an initial public offering of its common stock (the "Offering") pursuant to a registration statement on Form S-1 filed previously with the Securities and Exchange Commission (the "SEC"). The Offering consists of 9,259,259 shares of common stock being offered by QES. In addition, certain selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,388,889 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The current expected initial offering price is between $12.00 and $15.00 per share. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol "QES," subject to official notice of issuance.
BofA Merrill Lynch and Simmons & Company International, Energy Specialists of Piper Jaffray are acting as joint book-running managers and representatives of the underwriters for the Offering. Citigroup, Barclays, Tudor, Pickering, Holt & Co. and Evercore ISI are also acting as bookrunners for the Offering. Stephens Inc. and Capital One Securities are acting as co-managers for the Offering. The Offering will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the preliminary prospectus may be obtained from:
BofA Merrill Lynch
NC1-004-03-43, 200
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
Attention: Prospectus Department
dg.prospectus_requests@baml.com
Piper Jaffray & Co.
800 Nicollet Mall, Suite 800
Minneapolis, MN 55402
Attention: Prospectus Department
(800) 747-3924
www.prospectuspjc.com
About Quintana Energy Services Inc.
QES is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays in all of the active major basins throughout the U.S. QES's primary services include: directional drilling, pressure pumping, pressure control and wireline services. The Company offers a complementary suite of products and services to a broad customer base that is supported by in-house manufacturing, repair and maintenance capabilities.
Important Information
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under "Quintana Energy Services Inc." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the Offering, represent QES's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of QES's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, QES does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for QES to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Offering. The risk factors and other factors noted in QES's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.
Contacts:
Quintana Energy Services
Keefer M. Lehner
EVP, Chief Financial Officer
832-518-4094
ir@quintanaenergyservices.com
Dennard Lascar Investor Relations
Ken Dennard / Natalie Hairston
713-529-6600
QES@dennardlascar.com
View original content: http://www.prnewswire.com/news-releases/quintana-energy-services-inc-announces-launch-of-initial-public-offering-300589522.html
SOURCE Quintana Energy Services Inc. | HOUSTON Jan.29 2018 Quintana Energy Services Inc. QES public offering stock registration statement Form S-1 Securities Exchange Commission 9,259,259 shares common stock QES. stockholders grant 30-day option purchase additional 1,388,889 shares initial price. price $12.00 $15.00 per share. New York Stock Exchange "QES," notice issuance.
BofA Merrill Lynch Simmons& Company International Energy Specialists Piper Jaffray managers Citigroup Barclays Tudor Pickering Holt& Co. Evercore ISI Stephens Inc. Capital One Securities co-managers. prospectus meets Section 10 Securities Act of 1933. prospectus BofA Merrill Lynch
NC1-004-03-43,200
200 North College Street,3rd Floor
Charlotte, NC 28255-0001
Prospectus Department
dg.prospectus_requests@baml.com
Piper Jaffray& Co.
800 Nicollet Mall, Suite 800
Minneapolis, MN 55402
Prospectus Department
(800) 747-3924
www.prospectuspjc.com
Quintana Energy Services Inc.
QES growth-oriented provider oilfield services onshore oil natural gas exploration production companies major basins QES's services include directional drilling pressure pumping control wireline services offers products in-house manufacturing repair maintenance .
registration statement SEC not effective. sold SEC's website "Quintana Energy Services Inc." not offer sell sale unlawful .
-looking Private Securities Litigation Reform Act 1995. represent QES's expectations. subject risks uncertainties factors differ .
date QES update revise predict. risk factors prospectus Contacts Quintana Energy Services
Keefer M. Lehner
EVP Chief Financial Officer
832-518-4094
ir@quintanaenergyservices. Dennard Lascar Investor Relations
Ken Dennard/ Natalie Hairston
713-529-6600
QES@dennardlascar.com
View original content: http://www.prnewswire.com/news-releases/quintana-energy-services-inc-announces-launch-of-initial-public-offering-300589522.html SOURCE Quintana Energy Services Inc. | 0.9 |
Tech Guide Microsoft says Meltdown and Spectre fixes will slow some PCs down significantly Microsoft said most Windows 7 and Windows 8 users relying on older chips will notice the performance impact of updates to protect against Meltdown and Spectre. The company also said Windows Server performance will be degraded if customers choose to install updates that are meant to protect against untrusted code. SHARES Getty Images
Microsoft on Tuesday provided new details on the performance impact of updates to protect against recently disclosed security vulnerabilities. In certain cases, performance on Windows will be significantly slowed by patches for the Meltdown and Spectre vulnerabilities .
Some people have found that their servers and PCs are performing differently after installing updates, so the news shouldn't come as a big surprise. Still, the new information doesn't line up perfectly well with what Intel said last week when the vulnerabilities were first officially announced. "Any performance impacts are workload-dependent, and, for the average computer user, should not be significant," the chipmaker said .
Microsoft expects most people using Windows 7 and Windows 8 on chips that are from 2015 or older will notice performance degradations, Terry Myerson, executive vice president for Microsoft's Windows and Devices Group, wrote in a blog post . The company did not publish specific performance benchmarks to back up the claims.
Some people using Windows 10 with Intel Haswell chips or anything older will notice performance impacts, Myerson wrote. But those people running Windows 10 on Skylake, Kaby Lake or newer Intel chips probably won't notice performance issues, although internally run benchmarks show single-digit slowdowns, Myerson wrote.
The case is different for Windows Server, Microsoft's operating system for servers. Should customers choose to install updates to protect against issues stemming from untrusted code running on those machines, there will be a more significant performance impact, Myerson wrote. "This is why you want to be careful to evaluate the risk of untrusted code for each Windows Server instance, and balance the security versus performance tradeoff for your environment," he wrote.
At this point, Microsoft has provided Meltdown and Spectre patches for 41 of the 45 versions of Windows through Windows Update, Myerson wrote.
Intel stock went down after Microsoft released the news. It traded as low as $43.75, about 2 percent lower than opening price, falling from about $44.34 per share immediately after the announcement. Microsoft stock initially faltered but then reversed its decline.
Later on Tuesday Intel offered new details on PC performance impacts because of security updates.
"Based on our most recent PC benchmarking, we continue to expect that the performance impact should not be significant for average computer users. This means the typical home and business PC user should not see significant slowdowns in common tasks such as reading email, writing a document or accessing digital photos," Intel said in a statement . The testing on PCs with the latest Intel silicon found an impact of 6 percent or less, the company said.
Intel said it's still trying to get a sense of performance changes for chips used in data centers. Jordan Novet Technology Reporter for CNBC.com Related Securities | Tech Guide Microsoft says Meltdown and Spectre fixes will slow some PCs down significantly Microsoft said most Windows 7 and Windows 8 users on older chips will notice performance impact of updates to protect against Meltdown and Spectre. company said Windows Server performance will be degraded if customers choose to install updates to protect against untrusted code. SHARES Getty Images
Microsoft Tuesday provided new details on performance impact of updates to protect against disclosed security vulnerabilities. certain cases, performance on Windows will be significantly slowed by patches for Meltdown and Spectre vulnerabilities.
Some people found servers and PCs are performing differently after installing updates, news shouldn't come as a big surprise. new information doesn't line up well with what Intel said last week when vulnerabilities announced. "Any performance impacts are workload-dependent, for average computer user, should not be significant," chipmaker said.
Microsoft expects most people using Windows 7 and Windows 8 on chips from 2015 or older will notice performance degradations, Terry Myerson, executive vice president for Microsoft's Windows and Devices Group, wrote in blog post. company did not publish specific performance benchmarks to claims.
Some people using Windows 10 with Intel Haswell chips or older will notice performance impacts, Myerson wrote. But people running Windows 10 on Skylake, Kaby Lake or newer Intel chips probably won't notice performance issues, although internally run benchmarks show single-digit slowdowns, Myerson.
case different for Windows Server, Microsoft's operating system for servers. Should customers choose to install updates to protect against issues from untrusted code on machines, more significant performance impact, Myerson wrote. "This want to be careful to evaluate risk of untrusted code for each Windows Server instance, balance security versus performance tradeoff for environment," wrote.
Microsoft has provided Meltdown and Spectre patches for 41 of 45 versions of Windows through Windows Update, Myerson wrote.
Intel stock went down after Microsoft released news. It traded as low as $43.75, about 2 percent lower than opening price, falling from about $44.34 per share after announcement. Microsoft stock initially faltered but then reversed decline.
Later Tuesday Intel offered new details on PC performance impacts because of security updates.
"Based on recent PC benchmarking, expect performance impact should not be significant for average computer users. typical home and business PC user should not see significant slowdowns in common tasks such reading email, writing document or accessing digital photos," Intel said in statement. testing on PCs with latest Intel silicon found impact of 6 percent or less, company said.
Intel said 's still trying to get sense performance changes for chips used in data centers. Jordan Novet Technology Reporter for CNBC.com Related Securities | 0.1 |
HOFFMAN ESTATES, Ill., Jan. 16, 2018 (GLOBE NEWSWIRE) -- CDK Global, Inc. (Nasdaq:CDK) is scheduled to release its financial results for the fiscal second quarter ending December 31, 2017 before the opening of the Nasdaq on Tuesday, January 30, 2018.
CDK will also be hosting a conference call at 7:30 a.m. CT on January 30, 2018 to discuss the results for the fiscal quarter. Brian MacDonald, President and Chief Executive Officer, Joe Tautges, Chief Financial Officer, and Katie Coleman, Senior Director Investor Relations, will be participating on the call.
Investors and interested participants are invited to listen to the conference call and view the accompanying slide presentation via live webcast which can be accessed through CDK's Investor Relations home page, http://investors.cdkglobal.com . The slide presentation will be available approximately 60 minutes before the webcast at CDK's Investor Relations home page. A replay of the webcast will be available on the Events & Presentations section of CDK's Investor Relations home page.
About CDK Global
With more than $2 billion in revenues, CDK Global (Nasdaq:CDK) is a leading global provider of integrated information technology and digital marketing solutions to the automotive retail and adjacent industries. Focused on enabling end-to-end automotive commerce, CDK Global provides solutions to dealers in more than 100 countries around the world, serving approximately 28,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process from targeted digital advertising and marketing campaigns to the sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit www.cdkglobal.com .
Investor Relations Contact:
investor.mail@cdk.com
847.485.4000
Source:CDK Global, Inc. | HOFFMAN ESTATES Ill., Jan.16,2018 (GLOBE NEWSWIRE -- CDK Global Inc. :CDK release financial results fiscal second quarter December 31,2017 Nasdaq January 30,2018.
CDK conference call 7:30 a.m. CT January 30,2018 discuss results fiscal quarter. Brian MacDonald President Chief Executive Officer Joe Tautges Chief Financial Officer Katie Coleman Senior Director Investor Relations participating .
Investors participants listen conference call view slide presentation live webcast CDK's Investor Relations home page, http://investors.cdkglobal.com slide presentation 60 minutes before webcast at CDK's Investor Relations. replay webcast Events& Presentations section .
CDK Global
$2 billion revenues CDK Global (Nasdaq:CDK global provider information technology digital marketing solutions automotive retail end-to-end automotive commerce CDK provides solutions dealers 100 countries 28,000 retail locations automotive manufacturers. CDK solutions automate integrate dealership buying process digital advertising marketing sale financing insuring parts supply repair maintenance vehicles. www.cdkglobal.com .
Investor Relations Contact:
investor.mail@cdk.com
847.485.4000
Source:CDK Global, Inc. | 0.8 |
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