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Apple launches HomePod, taking on Google, Amazon

Apple launches HomePod, taking on Google, Amazon 4:24am IST - 01:04 After missing the critical holiday shopping season, Apple Inc has jumped into the voice speaker wars with the HomePod smart speaker, a device that will use its Siri voice assistant and compete against offerings from Amazon.com Inc and Alphabet Inc’s Google. After missing the critical holiday shopping season, Apple Inc has jumped into the voice speaker wars with the HomePod smart speaker, a device that will use its Siri voice assistant and compete against offerings from Amazon.com Inc and Alphabet Inc’s Google. //reut.rs/2n4UD49

https://in.reuters.com/video/2018/01/23/apple-launches-homepod-taking-on-google?videoId=388231674

Top Israeli general sees increased Iran spending on foreign wars - Reuters

JERUSALEM (Reuters) - Iran spends hundreds of millions of dollars annually to help allies fighting elsewhere in the Middle East and this outlay appears to be rising, Israel’s armed forces chief said on Tuesday. Lieutenant-General Gadi Eizenkot’s remarks coincided with almost a week of Iranian street protests that initially focused on economic hardships but have turned overtly political - though he did not comment directly on that unrest. Eizenkot accused Iran, Israel’s arch-foe, of working to forge a “Shi‘ite crescent” of influence running through Iraq, Syria, Lebanon, Yemen, Bahrain and Palestinian-ruled Gaza. “Just glance at the scale of Iranian investment in order to achieve regional hegemony - it adds up to giving (Lebanese militia) Hezbollah between $1 billion and $700 million each year,” he said in a speech to the IDC Herzliya university. “In recent months, investment in the Palestinian arena has also been growing out of a desire to influence it - with an increase in the (annual) funding in the Gaza Strip for (militant groups) Hamas and Islamic Jihad to $100 million.” Iran is a Middle East big power deeply involved in conflicts in Syria and Iraq, and supportive of Houthi forces in Yemen’s war, as part of a battle for influence with rival Saudi Arabia. Many Iranians, however, resent the foreign interventions and want their leaders to create more jobs at home, where youth unemployment reached 29 percent last year. Eizenkot did not give sources for his data on Iranian spending. Generally such statements are based on the estimates of Israel’s intelligence services. IRAN BACKS PALESTINIAN ISLAMISTS FILE PHOTO: New Israeli Chief of Staff Lieutenant-General Gadi Eizenkot smiles during a handover ceremony, in which he replaced Lieutenant-General Benny Gantz, at Kirya base in Tel Aviv, Israel February 16, 2015. REUTERS/Nir Elias/File Photo In mid-2017, Israeli defense officials assessed Iran was spending $800 million annually on Hezbollah, and $70 million on Hamas - Gaza’s dominant faction - and the smaller Islamic Jihad. Both Palestinian groups acknowledged Iranian backing last month, which suggested Tehran is reorienting its regional efforts as the Syrian civil war winds down in favor of President Bashar al-Assad, whom it reinforced. Islamic Jihad said that Qassem Soleimani, a senior Iranian general, spoke to its leadership to “stress Iran’s support for the Palestinian resistance”. Hamas said it received a pledge from Iranian President Hassan Rouhani that Tehran would “spare no effort in supporting the Palestinian people”. Since U.S. President Donald Trump infuriated Palestinians by recognizing Jerusalem as the Israeli capital on Dec. 6, there have been almost nightly militant rocket and mortar bomb attacks from Gaza on Israel, which has responded with air strikes. Israel says Hamas bears overall responsibility although the launches were carried out by rival Islamist factions, and it accuses Iran of arming these groups as well. Citing this alleged Iranian involvement, Israeli Defence Minister Avigdor Lieberman said on Tuesday that avoiding escalation in Gaza was in order. “The Israeli interest is that the international community’s attention be entirely on Iran, and not to launch an all-out campaign in Gaza which would distract attention from Iran,” Lieberman told Army Radio. Eizenkot further said that since 2012 Iran had also spent “billions” of dollars on Syria. He said Iran currently had around 2,000 military advisers in Syria deployed alongside 10,000 foreign Shi‘ite militiamen and 8,000 Hezbollah fighters. Iran spends “hundreds of millions” of dollars more on allies in Iraq and Yemen, Eizenkot added. Additional reporting by Nidal al-Mughrabi in Gaza; Writing by Dan Williams; Editing by Jeffrey Heller and Mark Heinrich

https://www.reuters.com/article/us-iran-rallies-israel/top-israeli-general-sees-increased-iran-spending-on-foreign-wars-idUSKBN1ER0Q9

MOVES-Head of power trading at commodities firm BioUrja departs -sources

HOUSTON/NEW YORK, Jan 12 (Reuters) - Cody Moore, president of the power trading group at global commodities firm BioUrja, has left, several sources familiar with the matter said this week. Moore had served as president of BioUrja’s power group since June 2015, according to his LinkedIn profile, and was a co-founder of the group, according to the company’s website. Moore and BioUrja did not respond to requests for comment. Before joining BioUrja, he held senior roles at EDF Trading and Lehman Brothers, according to his LinkedIn profile. It was not immediately clear where Moore was going. The sources declined to be named because they were not authorized to speak publicly on the matter. Reporting by Liz Hampton in Houston and Devika Krishna Kumar in New York; Editing by Matthew Lewis

https://www.reuters.com/article/moves-power-trading/moves-head-of-power-trading-at-commodities-firm-biourja-departs-sources-idUSL1N1P701X

Amin Talati Expands in Washington DC With Addition of Prominent Advertising and Marketing Attorney

WASHINGTON, Jan. 8, 2018 /PRNewswire/ -- Leading regulatory and litigation law firm Amin Talati Upadhye has announced that Katie Bond has joined the firm as a Partner in the Washington, D.C. Office. Focused on the industries of food and beverages, nutritional supplements, cosmetics and pharmaceuticals, Amin Talati Upadhye provides full legal services for the lifecycle of products aimed at improving the population's health and wellness. "We are thrilled by the initial success of our Washington, DC office led by Ivan Wasserman," said Ashish Talati , a founding partner, "and we plan to build on that success by strategically adding industry-leading professionals with the right skills and experience to support our clients and the industries we serve. We can think of no one that fits that description better than Katie Bond. With years of experience gained at leading law firms, she has become the go-to attorney for many of world's most innovative food, nutritional supplement, drug, and cosmetic companies." Recognized by Super Lawyers as a Washington, D.C. "Rising Star" and recommended in the US Legal 500 for her work in the Marketing & Advertising area, Katie not only regularly advises companies of all sizes on developing effective and compliant marketing campaigns, she also has considerable experience responding to FTC and state attorney general investigations, defending consumer class actions, and initiating and responding to self-regulatory challenges before the National Advertising Division (NAD) and the Electronic Retailing Self-Regulation Program (ERSP). "Amin Talati's broad client base in the food and drug space, and its sophisticated regulatory and intellectual property practices, make it an ideal platform for me and my clients," said Ms. Bond. "I am honored to be joining this group of diverse and dedicated professionals, and in particular to helping Ivan continue to develop the office into a leader in Washington, D.C.'s legal community." Amin Talati Upadhye represents well-known brands in the areas of food and beverage, supplements, cosmetics and pharmaceuticals in regulatory compliance, product development, product launch, patent and trademark, and litigation and enforcement matters. Amin Talati Upadhye attorneys have legal degrees and backgrounds focused on intellectual property and government regulations and undergraduate degrees in areas such as pharmacy, molecular biology, food science and human nutrition, organic chemistry and bio-medical engineering. For more information visit AminTalati.com . Contact Amin Talati Upadhye, LLP Ivan Wasserman, 202-496-4966 Ivan@AminTalati.com View original content with multimedia: http://www.prnewswire.com/news-releases/amin-talati-expands-in-washington-dc-with-addition-of-prominent-advertising-and-marketing-attorney-300578673.html SOURCE Amin Talati Upadhye, LLP

http://www.cnbc.com/2018/01/08/pr-newswire-amin-talati-expands-in-washington-dc-with-addition-of-prominent-advertising-and-marketing-attorney.html

Inland Real Estate Acquisitions, LLC Closes the Purchase of a Medical Office Building in Elmhurst, Illinois

OAK BROOK, Ill.--(BUSINESS WIRE)-- Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of the Edward-Elmhurst Health Center, an approximately 13,000-square-foot medical office building located on the north side of Elmhurst, Illinois, approximately 20 miles west of Chicago. Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from Brett Smith, assistant vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate. Newly constructed in 2017, the property is located at 755 North York Street and is home to Edward Health Ventures, operating as Edward-Elmhurst Health. Serving as a medical office space, the property includes 10 exam rooms, one procedure room, one endoscopy suite and four pre-/post-recovery rooms. The Center features physicians who specialize in family medicine, internal medicine, obstetrics/gynecology and gastroenterology. “Ideally located near Interstate 290 and 294 and across the street from Mariano’s, Edward-Elmhurst Health provides more than 285,000 residents within a five mile radius with convenient access to medical care,” said Cosenza. “The well-established tenant and prime location made this the type of attractive acquisition we are looking for in this asset class.” To date, Inland Real Estate Acquisitions, LLC has facilitated more than $45 billion of purchases including retail centers, apartments, single-tenant properties and a total of more than $269 million in medical office buildings. About Inland Real Estate Acquisitions, LLC Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180102005614/en/ Inland Marketing & Communications, Inc. Sally Blake, (630) 586-6639 sally.blake@inlandgroup.com Source: Inland Real Estate Acquisitions, LLC

http://www.cnbc.com/2018/01/02/business-wire-inland-real-estate-acquisitions-llc-closes-the-purchase-of-a-medical-office-building-in-elmhurst-illinois.html

CANADA STOCKS-Toronto stocks inch higher on positive sentiment after Trump speech

January 31, 2018 / 3:04 PM / in 28 minutes CANADA STOCKS-Toronto stocks reverse earlier gains to fall to eight-week low Reuters Staff 2 Min Read By Nichola Saminather Jan 31 (Reuters) - Canada's benchmark stock index surrendered earlier gains to fall to an eight-week low on Wednesday, with energy companies among the biggest decliners. * The Toronto Stock Exchange's S&P/TSX composite index was down 27 points, or 0.2 percent, at 15,928.52, putting it on track for an eight-week low in a third consecutive day of losses. * The index earlier rose as much as 0.15 percent, recovering from the previous session's drop to its lowest level since Dec. 7. * Thomson Reuters Corp was the biggest decliner on the Toronto index, falling 6.2 percent. It surrendered almost all its gains from Tuesday, made after a Reuters report that U.S. private equity firm Blackstone Group was in talks to buy a 55 percent stake in the Canadian company's Financial and Risk business. The companies confirmed the report after markets closed on Tuesday. * Base metals company Nevsun Resources was the second-biggest decliner, falling 5.8 percent, after saying it would suspend its dividend and redeploy capital toward growth. * Energy companies Crew Energy , Advantage Oil & Gas , Kelt Exploration , Freehold Royalties and TORC Oil and Gas were also among the top 10 decliners. * U.S. crude futures fell as much as 1.3 percent, but inched 0.2 percent higher to $64.65 a barrel as of 12:09 p.m. EST (1709 GMT). * Gold producer Endeavor Mining was the biggest gainer, rising 4.5 percent, followed by cannabis producer Aphria , with a 4.1 percent gain. * Gold prices rose 0.3 percent to $1,341.75 an ounce. (Reporting by Nichola Saminather, editing by G Crosse)

https://www.reuters.com/article/canada-stocks/canada-stocks-toronto-stocks-inch-higher-on-positive-sentiment-after-trump-speech-idUSL4N1PQ5R3

Tennis: Mertens, Goffin find form as Belgium beat Australia in Hopman Cup

(Reuters) - Elise Mertens fended off Daria Gavrilova while David Goffin blitzed his way past Thanasi Kokkinakis as Belgium secured a 3-0 victory over Australia in the Hopman Cup on Wednesday. Mertens fought back from a set down to outlast Gavrilova 2-6 6-4 6-2 in a two-hour battle at the Perth Arena to help Belgium keep their hopes of reaching Saturday’s final alive. Gavrilova broke Mertens early in the match and clinched the opening set with ease. She continued to attack her rival in the second set but world number 36 Mertens saved a break point and changed her gameplan to counter the Australian. ”I started to be more aggressive, stepped up to the baseline and came to the net more,“ Mertens said. ”I made her play more defensive, so I‘m happy with my game in the end. “I’ve worked a lot on my offence. Tennis at the top is so aggressive, so direct, that’s the style I want to play.” FILE PHOTO - Tennis - Davis Cup Final - France vs Belgium - Stade Pierre Mauroy, Lille, France - November 26, 2017 Belgium's David Goffin celebrates winning his match against France's Jo-Wilfried Tsonga REUTERS/Yves Herman Mertens reeled off three games in a row to level the contest at one set all and used the momentum to prevail in the decider. Goffin, who beat world number four Alexander Zverev in his opening match, struck 27 winners in his 6-4 6-2 victory over Kokkinakis to clinch the tie. Belgium then won the mixed doubles dead rubber. “I‘m feeling so well on the court since I arrived here in Australia,” Goffin said. “I‘m playing really well, I’ve won two good matches with a high level, so I‘m very happy how I’ve started the year.” Belgium can reach the final if they beat Canada in their next match and Australia fail to better their result against Germany. Earlier, Angelique Kerber beat Eugenie Bouchard 6-1 6-3 while Alexander Zverev defeated Vasek Pospisil 6-4 6-2 as Germany sealed a comfortable 3-0 victory over Canada. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Christian Radnedge

https://www.reuters.com/article/us-tennis-hopman/tennis-mertens-goffin-find-form-as-belgium-beat-australia-in-hopman-cup-idUSKBN1ES19W

CIT to Announce Fourth Quarter 2017 Financial Results

NEW YORK, Jan. 12, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced it will issue its fourth quarter 2017 financial results on Tuesday, Jan. 30, 2018. The press release will be issued at 6:30 a.m. ET via PR Newswire and on the CIT News website . The presentation and financial supplement will be posted in the Presentations & Events section of CIT's Investor Relations website shortly thereafter. CIT will host a conference call and audio webcast at 8 a.m. ET to discuss the company's performance, followed by a question and answer session. Call-in Number: U.S. Toll Free 888-317-6003 International 412-317-6061 Canada Toll Free 866-284-3684 Elite Entry Code 2411460 Webcast cit.com/investor Please dial-in to the call or connect to the webcast at least 15 minutes prior to register and/or download any necessary software. Conference Replay: US Toll Free: 1-877-344-7529 International Toll: 1-412-317-0088 Canada Toll Free: 1-855-669-9658 Replay Access Code: 10116037 Webcast cit.com/investor Information in CIT's earnings release and comments made by management during the conference call described in this release speak only as of the date and time of such call. CIT expressly disclaims and undertakes no responsibility to update or alter such information based on new information, future events or otherwise. About CIT: Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Sept. 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com . CIT MEDIA RELATIONS: CIT INVESTOR RELATIONS: John Moran Barbara Callahan 212-461-5507 973-740-5058 John.Moran@cit.com Barbara.Callahan@cit.com View original content: http://www.prnewswire.com/news-releases/cit-to-announce-fourth-quarter-2017-financial-results-300581766.html SOURCE CIT Group Inc.

http://www.cnbc.com/2018/01/12/pr-newswire-cit-to-announce-fourth-quarter-2017-financial-results.html

Feinstein unilaterally releases FUSION GPS testimony...

"Republicans have refused to release full transcripts of our firm's testimony, even as they selectively leak details to media outlets on the far right," Simpson and Fritsch said in the piece. "It's time to share what our company told investigators." Fusion GPS did not immediately respond to CNBC's request for comment. Simpson touches on a wide array of topics, including Trump's business ties, his tax history and his connection to Felix Sater, who is alleged to have links to Russian organized crime. Here are some of the highlights: Steele, Simpson testified, told him the FBI also had a source inside the Trump operation, although he wasn't sure whether that meant the presidential campaign or the Trump Organization. The bureau was more inclined to believe Steele's information, he said, "because they had other intelligence that indicated the same thing, and one of those pieces of intelligence was a human source from inside the Trump organization." NBC News' Ken Dilanian later tweeted that the supposed walk-in source "was a mischaracterization by Simpson of the Australian diplomat tip about Papadopoulis." Simpson touched on how the Trump Organization handles paying taxes: "One of the things we found out was that, you know, when it comes to paying taxes, Donald Trump claims to not have much stuff. At least the Trump organization. So they would make filings with various state and local authorities saying that their buildings weren't worth much." Simpson discussed Trump's relationship with Sater: "This was something he didn't want to talk about and testified under oath he wouldn't know Felix if he ran into him in the street. That was not true. He knew him well and, in fact, continued to associate with him long after he learned of Felix's organized crime ties. So, you know, that tells you something about somebody." Fusion GPS Joshua Levy claimed that someone died as a result of the dossier: "Somebody's already been killed as a result of the publication of this dossier and no harm should come to anybody related to this honest work." Fusion GPS did not secure full access to Trump's tax returns, Simpson said: "They were Trump properties and I believe we may have reviewed some public information about estate taxes and things like that. We didn't have access to his tax returns." Simpson said he only become aware of the infamous Trump Tower meeting between Donald Trump Jr. and a Russian lawyer when it was reported in the New York Times: "I was stunned." Simpson had no "factual reason to believe" the Trump Tower meeting was a Russian attempt to make contact with the Trump campaign, but: "You know, as a sort of question of counterintelligence and just general investigation of Russian methods and that sort of thing, I think that's a reasonable interpretation." Fusion GPS concluded that Trump "exaggerated" his properties' worth in legal filings — but that did not indicate or show connections to Russia: "Not that I recall." Simpson said Trump's country clubs aren't making any money: "They were not profitable entities. I don't specifically recall. I just remember that these were not doing very well and that he'd sunk a lot of money into them and he hadn't gotten a lot of money back yet." Read the full transcript here: This story is developing. Please check back for updates. Kevin Breuninger Special to CNBC.com Playing

https://www.cnbc.com/2018/01/09/sen-dianne-feinstein-unilaterally-releases-fusion-gps-testimony.html

'The Shape of Water' leads nominations for Britain's BAFTA awards

January 9, 2018 / 9:17 AM / Updated 23 minutes ago 'The Shape of Water' leads nominations for Britain's BAFTA awards Mark Hanrahan 2 Min Read LONDON (Reuters) - Guillermo del Toro’s fantasy “The Shape of Water” leads the field for next month’s British Academy of Film and Television Arts (BAFTA) awards after securing 12 nominations on Tuesday. World War II drama “The Darkest Hour” and comedy-drama “Three Billboards Outside Ebbing, Missouri” each got nine nominations. “Blade Runner 2049” and “Dunkirk” both received eight. Sally Hawkins in “The Shape of Water” star and Frances McDormand in “Three Billboards” got Leading Actress nominations. Daniel Day-Lewis and Gary Oldman were among the nominations for Leading Actor. “I am incredibly humbled by such a nomination. It is very special to be honored by BAFTA. It feels like a gift from my homeland and I am very touched by it,” Hawkins, who is British, said in a statement. “The Shape of Water” was also nominated for best film, cinematography, costume design and visual effects. Del Toro was nominated for both directing and original screenplay awards. Christopher Plummer received a Best Supporting Actor nomination for his portrayal of oil tycoon J. Paul Getty in Ridley Scott’s “All The Money In The World”. Plummer took the role on four days notice after Scott decided to cut a completed performance by Kevin Spacey following allegations of sexual misconduct against the actor. “The Death of Stalin,” was nominated for Outstanding British Film, on a list that included “Lady Macbeth,”“God’s Own Country,” and “Three Billboards,” which was directed by Briton Martin McDonagh. Both “Three Billboards,” and “The Shape of Water,” have awards momentum behind them, both having won in major categories at the Golden Globes in Los Angeles on Sunday. Writing by Mark Hanrahan in London

https://in.reuters.com/article/us-awards-bafta-nominations/the-shape-of-water-leads-nominations-for-britains-bafta-awards-idINKBN1EY0US

IOC to host talks on North Korean participation on January 20

January 10, 2018 / 3:28 PM / Updated 16 minutes ago IOC to host talks on North Korean participation on January 20 Stephanie Nebehay 2 Min Read LAUSANNE (Reuters) - The International Olympic Committee (IOC) will host talks on Jan. 20 to discuss key details about North Korea’s participation at next month’s Winter Olympics in neighbouring South Korea. The International Olympic Committee (IOC) headquarters is pictured on the day of an Executive Board meeting on sanctions for Russian athletes in Lausanne, Switzerland December 5, 2017. REUTERS/Denis Balibouse The two countries agreed on Tuesday, following their first talks in over two years, that North Korea would send a large delegation to next month’s Winter Olympics in Pyeongchang. The IOC said the meeting at its headquarters in Lausanne would take a series of “essential decisions” on the North’s participation. These would include the number of names of athletes from the North Korean Olympic Committee as well as questions related to official protocol, including flags, ceremonies and uniform. The IOC said that its president Thomas Bach would host the talks which would also include the delegations from the national Olympic committees of both countries. North Korean IOC member Chang Ung spent four hours at the IOC building on Wednesday, Reuters witnesses said. He left in a black car without talking to reporters. This week’s talks took place amid a tense standoff over Pyongyang’s nuclear and missile programmes, after North Korean leader Kim Jong Un said in a New Year’s Day speech that he was “open to dialogue” with Seoul. Kim and U.S. President Donald Trump have exchanged fiery barbs in the last year and Trump has warned that the United States would have no choice but to “totally destroy” North Korea if forced to defend itself or its allies. Additional reporting by Brenna Hughes Neghaiwi; Writing by Brian Homewood, Editing by William Maclean

https://uk.reuters.com/article/uk-north-korea-south-korea-talks-ioc/olympic-committee-to-hold-meeting-on-north-korean-participation-idUKKBN1EZ1XU

Most Americans don’t know about insurance as a trick to build wealth

Bloomberg | Getty Images SHARES Rebecca Walser, a wealth management advisor who specializes in financial planning for high net worth individuals, tells CNBC Make It that the rich use plenty of tricks to build wealth, but "the most common one is something that most regular Americans don't even know a thing about: Investing in permanent life insurance policies." Permanent life insurance policies, which Walser discusses in detail in her book, " Wealth Unbroken: Growing Wealth Uninterrupted By Market Crashes, Taxes, And Even Death ," allow you to build savings in a tax-advantaged account. Unlike term life insurance policies, which are cheaper, temporary and have pay-outs that are only accessible upon death, permanent policies offer a cash-value component. Here's how they work: You invest a lot of money into an account, basically "over-funding" it, and watch it grow, tax-free, says Walser. And that's money you can access during your lifetime. show chapters 6:33 PM ET Wed, 25 Jan 2017 | 02:53 There are a couple different types of permanent policies, whole life and universal life . A whole life plan is a more long-term one with fixed premium payments and death benefits, whereas a universal life plan is more flexible. There's also an indexed policy, which allows you to invest in an equity index account. But the shared benefit of each of these is the accumulation of cash value. When it comes to withdrawals, you can take out what you've already put in, but if you want to touch the gains, you'll be taxed. As for your beneficiary at the time of your death, his or her insurance payout is not taxable , but what happens to the cash value part of the policy can vary. Sometimes the insurer actually gets to keep it. Not touching the money at all allows for maximum growth. By Walser's estimate, if you start putting $2,000 a year into an account when your child is born, by the time they are 60, they will have access to hundreds of thousands of tax-free dollars. show chapters 7:24 PM ET Tue, 28 March 2017 | 01:02 On the flip side, cash value life insurance, which can either grow at a stated rate of interest set by an insurer or be pegged to the market, will likely not beat market returns these days, considering its current height. And because these permanent policies are significantly more expensive than term policies, they're not always a great investment for the average American family. Other tax-deferred options like IRAs, 529 accounts and 401(k)s are all available at a lower cost. In fact, many advisors actually don't recommend buying life insurance for children, unless you are doing it to replace a family breadwinner's income. Also, for those who can afford to over-fund their cash value policy, there can be complex tax consequences. Broadly speaking, paying too much in premiums can turn the policy into a modified endowment contract (MEC). That shifts how your cash-value withdrawals are taxed and imposes a 10 percent penalty on any taxable withdrawals. For all these reasons, these policies might not necessarily be the best option for the average American family. For most, life insurance is a protection tool, not an investment. Overall, though, Walser thinks these accounts could be an under-the-radar strategy worth considering. "The wealthy have been creating a lot of wealth in life insurance," she says.

https://www.cnbc.com/2018/01/18/most-americans-dont-know-about-insurance-as-a-trick-to-build-wealth.html

Loot Crate taps Dendera as it seeks new funding - sources

January 25, 2018 / 8:48 PM / Updated 28 minutes ago Loot Crate taps Dendera as it seeks new funding - sources Paresh Dave , Jessica DiNapoli 4 Loot Crate Inc, a monthly subscription service that sends video game and sci-fi paraphernalia to customers, has hired strategic consulting firm Dendera Advisory LLC as it seeks to raise new funds, people familiar with the matter said. Loot Crate, a startup which Inc Magazine called America’s fastest growing company in a 2016 cover story, has lost three non-executive board members in recent weeks, the sources said this week. It also faces a lawsuit, filed in January, by a former inhouse accountant accusing her manager of sexual harassment, court documents show. Dendera is helping Loot Crate improve operations and manage finances, as it strives to boost profitability following a spat with vendors that led to late customer deliveries, said the sources. They requested anonymity to discuss the confidential matter. Loot Crate and Dendera declined to comment. Dendera, which has an affiliate that invests in distressed companies, is also considering investing in Loot Crate, the sources added. The affiliate has invested in Performance Sports Group, the maker of Bauer ice hockey gear that filed for bankruptcy in 2016, according to a 2017 letter to its investors. Another potential investor is U.S. semiconductor company Qualcomm Inc’s ( QCOM.O ) Chief Financial Officer George Davis, the father of Chief Executive Chris Davis, who founded Loot Crate in 2012, the sources said. George Davis declined to comment. Dendera has advised Sports Direct International Plc ( SPD.L ) in its acquisition of bankrupt outdoor retailer Eastern Mountain Sports, and worked with an ad hoc committee of unsecured noteholders in the bankruptcy of oil and gas explorer Energy XXI. The three directors who quit Loot Crate’s board in recent weeks, according to the sources, are Ynon Kreiz, former CEO of YouTube video producer Maker Studios Inc, Mark Suster, managing partner at venture capital firm Upfront Ventures, and Terry Boyle, president of Nordstrom Rack’s online businesses. Kreiz and Suster declined to comment. Boyle did not respond to a request for comment. The former Loot Crate accountant filed a lawsuit as “Jane Doe” in Los Angeles County Superior Court against the company and her manager, Assistant Corporate Controller Steven Raby, for wrongful termination last autumn after reporting Raby had sexually harassed her. The lawsuit, which seeks $10 million in damages, alleges that Loot Crate had a “fraternity-like” culture with “instances of harassment (that) could be seen everywhere.” It contends that Raby’s alleged actions were condoned by managers, officers and directors at Loot Crate. Amy Jensen, an attorney representing Raby, said he denied the allegations against him and intended to vigorously defend himself. Raby is no longer employed by Loot Crate, she added. Loot Crate’s woes reflect some of the challenges facing startups seeking the success of companies such as online apparel retailer Stitch Fix Inc ( SFIX.O ), which helped popularize the subscription delivery model among e-commerce companies. Loot Crate gained an early loyal following among its fans, dubbed “Looters,” for its monthly boxes themed around Japanese cartoons called anime, videogames “Halo” and “Minecraft” and sci-fi media franchise “Star Trek.” In 2016, Loot Crate had about 650,000 subscribers. Investors including venture capital firm Upfront Ventures, Breakwater Investment Management and Time Inc ( TIME.N ) put $18.5 million into the startup at that time. Reporting by Paresh Dave in San Francisco and Jessica DiNapoli in New York; Editing by Richard Chang

https://in.reuters.com/article/lootcrate-funding/loot-crate-taps-dendera-as-it-seeks-new-funding-sources-idINKBN1FE2Y7

At Trump's DC hotel, supporters stood three-deep to hear his speech

While President Donald Trump may not be the most popular person in Washington, there was one place Tuesday night where he was a rock star: at the hotel in the nation's capital that bears his name. As the outside world debated the polarizing president's State of the Union address , inside the Trump International Hotel, just a short way down Pennsylvania Avenue from the White House, his fans were out in full blaze. Supporters stood three-deep at the bar inside the palatial building, gathered to hear Trump elucidate his review of his first year in office and the road ahead. There was no mistaking the mood in the room, where the bar was full and nearly every table was reserved. "I'm very pleased with how he's led the country so far, with the way he has directed the economy," said Katie Price, a 24-year-old from California who works with a recruiting firm and thus considers herself an atypical Trump supporter. "He's made us listen, and it's made us think about the things we believe in." Jeff Cox | CNBC People watch President Donald Trump deliver his first State of the Union address at the Trump International Hotel in Washington, D.C. The Trump International is an ornate yet staid hotel, where employees run a tight ship and customer satisfaction is key. Under normal circumstance, the hotel never would have cranked up the volume for the Trump speech, but the demand was boisterous. As the time drew near to the State of the Union delivery, anticipation grew. There were the usual suspects in the room: K Street movers and shakers, a small party where a book by former Trump aide Corey Lewandowski was featured, and your basic button-down Republicans who had come to hear the president check all their policy boxes. But that wasn't all: A husky fellow in a Philadelphia Eagles jersey stood not far from a Hispanic businessman. There was an African-American woman in camouflage fatigues and a young couple strutting in "Make America Great Again" colors (they didn't stick around long). A burdened hotel worker tried to keep reporters at bay and admonished spectators from capturing the moment with their smartphone video recorders. There was no suppressing the mood, though. Attendees joined in with those in the Capitol for virtually every applause line in the speech. The hotel used the Fox News feed, and the hotel attendees roared at one point when Trump asked for bipartisanship and Fox showed Democrats Charles Schumer and Nancy Pelosi, oft-vilified emblems of the Trump resistance. There was an overwhelming sense in the room that Trump ultimately would prevail over his many detractors. "Phenomenal," was how Charles Kirk, an up-and-coming Republican and leader of Turning Point USA, described Trump's term so far. "He is leading the restoration of the belief in American exceptionalism." Kirk, who's been growing his own fame lately, doesn't believe the surveys that show most Americans oppose the president. As he tours the country — 49 states in the past year — he finds just the opposite sentiment. "There's a strong grassroots support for what he's doing," Kirk said. "When the chips are down, he's going to deliver." Jeff Hunt, the leader of the Western Conservative Summit, also sees a strong base of support for Trump that has remained loyal through his first year in office. "On the issues that matter, religious freedom, defunding Planned Parenthood, repealing Obamacare, he's been strong," Hunt said. "We're really impressed with that [job] the president's been doing."

https://www.cnbc.com/2018/01/30/at-trumps-dc-hotel-supporters-stood-three-deep-to-hear-his-speech.html

Och-Ziff board member Barr quits amid battle over who will run firm

BOSTON (Reuters) - Och-Ziff Capital Management director William Barr is leaving the hedge fund’s board at the end of the month, marking the first visible fallout from a battle over who will run the firm in the future. The hedge fund firm said in a regulatory filing on Monday that Barr’s decision to step down from the seven-member board “relates to a disagreement over CEO succession, as well as business and governance plans for the Company.” Barr notified the firm of his plans last week and Och-Ziff made the news public on Monday. The firm, which invests $32 billion and is one of only a few publicly traded hedge funds, made headlines last week with news that its succession plans had been ripped up. The firm told investors late last month that it was “not the right time” to promote co-Chief Investment Officer James “Jimmy” Levin to CEO. The firm also said that founder, chairman and chief executive officer Daniel Och and the firm’s board of directors hoped that the 34-year-old Levin, Och’s longtime protégé and heir apparent, would remain as co-CIO. David Windreich is the other co-CIO and is also a board member. The Wall Street Journal reported last week that the board had wanted to move ahead with the succession plan to let Levin take over this year but that Och soured on Levin and refused to accept the plan. Och, through a spokesman, and Levin did not respond to requests last week for comment. Barr, a lawyer who had served as a U.S. Attorney General, joined Och-Ziff’s board in 2016. He sent a one paragraph note informing Och and others of his plans on January 23. “This is to advise you that I am resigning from the board of directors, effective at the end of this month (January). If that timing causes any difficulties for the company, please let me know.” The email was attached as an exhibit to the filing. He serves as Chairman of Och-Ziff’s Corporate Responsibility and Compliance Committee and as a member of the Audit Committee and the Nominating Committee. Och-Ziff built itself into one of the hedge fund industry’s biggest firms by staying out of the limelight and delivering steady returns that delighted pension funds. But it made headlines when a subsidiary admitted to bribing African officials and after paying $412 million to settle criminal and civil charges with the U.S. government. This prompted clients to pull out billions, shrinking assets from $50 billion at its peak before the financial crisis in 2005. Reporting by Svea Herbst-Bayliss; Editing by Muralikumar Anantharaman

https://www.reuters.com/article/us-och-ziff-capital-board/och-ziff-board-member-barr-quits-amid-battle-over-who-will-run-firm-idUSKBN1FJ0EH

Aldi pursues UK expansion after record Christmas

Aldi pursues UK expansion after record Christmas 4:52pm GMT - 01:48 Aldi UK, the British arm of the German discount supermarket, said it would press ahead with its aggressive expansion in 2018 after a record Christmas sales performance, boosted by demand for its premium ranges. Ciara Lee reports. ▲ Hide Transcript ▶ View Transcript Aldi UK, the British arm of the German discount supermarket, said it would press ahead with its aggressive expansion in 2018 after a record Christmas sales performance, boosted by demand for its premium ranges. Ciara Lee reports. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2CGS5nk

https://uk.reuters.com/video/2018/01/04/aldi-pursues-uk-expansion-after-record-c?videoId=378161331

Waymo to Acquire Thousands of Fiat Chrysler’s Self-Driving Minivans

6 COMMENTS Waymo LLC on Tuesday signaled a large expansion of its robot taxi fleet as the company prepares to open its driverless ride-hailing service to the general public. The self-driving tech unit of Google-parent Alphabet Inc. revealed an agreement to acquire thousands of minivans from Fiat Chrysler Automobiles FCAU -1.08% NV for delivery beginning later this year. The auto maker had previously provided 600 Pacifica minivans to Waymo, which has equipped cars with its driverless technology in 25 U.S. cities, including most recently in Atlanta, for testing. Since October, Waymo has tested the minivans without people behind the steering wheel in suburban Phoenix, where the weather is sunny and in a state receptive to the technology. The company announced in November plans to begin giving rides to select residents as part of a public trial. On Tuesday, Waymo said it expects to open the ride-hailing service to the general public in the Phoenix area this year as a commercial service. During a demonstration in October , the minivans had screens welcoming customers aboard and instructing them to push a blue “start ride” button on the ceiling. The vans otherwise seem like any other, except for its empty front seats. “With the world’s first fleet of fully self-driving vehicles on the road, we’ve moved from research and development, to operations and deployment,” John Krafcik, Waymo’s chief executive, said in a statement. Waymo is facing increasing pressure from auto makers and other tech companies to commercialize the fast-developing technology. General Motors Co. , the largest U.S. auto maker by sales, has said it aims to run a large-scale fleet of driverless cars in big cities in 2019 while Volvo Cars said in November it has an agreement to supply ride-hailing firm Uber Technologies Inc. with a fleet of 24,000 self-driving vehicles beginning in 2019. Write to Tim Higgins at Tim.Higgins@WSJ.com

https://www.wsj.com/articles/waymo-to-acquire-thousands-of-fiat-chryslers-self-driving-minivans-1517288461

New Ocado ecommerce deal turns screw on bearish hedge funds

LONDON (Reuters) - Hedge funds which have bet on a fall in the share price of Ocado will have taken a hit after the online retailer unveiled a new international technology deal which sent its stock up by more than a fifth. Canadian retailer Sobeys has agreed to use Ocado’s e-commerce technology to expand its online business. It follows a similar deal in November between Ocado and French rival Casino that also helped to boost Ocado’s shares.. Ocado was a favoured as a “short” bet amongst hedge funds throughout 2017 partly because of divergent views among investors over whether the company is a food retailer or a technology provider able to command a high valuation. Short selling occurs when a fund borrows shares and sells them, hoping to buy them back at a later date for a lower price, before returning them and booking a profit. According to market data provider Astec Analytics, around 10 percent of the company’s shares are held by short sellers. The number of Ocado shares out on loan had fallen by around a quarter from a mid-November high of around 85 million, before the Casino deal was announced, to around 60 million heading into the weekend, data from Astec Analytics showed. But a number of hedge funds were still heavily invested, with around 60 percent of the shares that had been put up for loan by pension funds and other long-term investors actually out on loan to hedge funds, the data showed. Regulatory filings up to the close of business on Friday showed 10 funds had short positions in Ocado shares in excess of 0.5 percent of its issued share capital, the level at which British finance industry regulator the Financial Conduct Authority requires disclosure. Funds also have to make a public announcement for every 0.1 percent increase or decrease above that level. The biggest position heading into Monday was held by Discovery Capital Management, with 3.1 percent, the FCA said. Other big holders included GMT Capital Corp, with a 2.3 percent short position; Marshall Wace, with 1.7 percent; and JPMorgan Asset Management, with a 1.1 percent position, the FCA data showed. “The shares have surged from 2.38 pounds in November to close last week at 4.13 pounds, a rise of some 74 percent,” David Lewis at Astec Analytics said. “Short sellers, who had made substantial sums on the rollercoaster-like performance of the company’s share price, have been hurriedly closing out of their positions as the shares recover.” With so many shares out on loan, any positive news has the potential to spook funds into trying to buy back the shares, fuelling share price gains in what is known as a “short squeeze”. At 1445 GMT, shares in Ocado were up 20 percent. If every fund with a short position in Ocado tried to exit the trade at the same time, it would take around 24.7 days, based on the average daily traded volume in the shares, the Astec Analytics data showed. Reporting by Simon Jessop. Editing by Jane Merriman

https://www.reuters.com/article/uk-ocado-group-sobeys-hedge-funds/new-ocado-ecommerce-deal-turns-screw-on-bearish-hedge-funds-idUSKBN1FB21Q

Senate has enough votes to confirm Jerome Powell as Fed chair

Jerome Powell will take the helm as the 16th chairman of the Federal Reserve , after the Senate confirmed him for the position Tuesday. The final vote was 85 to 12 in favor of confirmation. Powell — known more casually as "Jay" — assumes the top Fed position following his nomination by President Donald Trump in November. He comes to the position amid a critical time for the Fed, which is normalizing policy after years of extraordinary accommodation triggered by the financial crisis. Though he was confirmed Tuesday, he likely won't officially assume his duties until Janet Yellen' s term expires in February. Yellen has said she will leave the Fed after Powell is sworn in, though her term does not expire until Jan. 31, 2024. Where Fed chairmen tend to be economists, Powell comes to his position with a more markets-based background, particularly in venture capital. Previous stints included time at the Carlyle Group, Severn Capital Partners and the Global Environmental Fund. In addition, he spent time at the Treasury Department and most recently, before coming to the Fed in 2012, served as a visiting scholar at the Bipartisan Policy Center think tank. Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve. His policy positions are mostly expected to run at least close to Yellen, though some of his comments indicate he may be a bit more hawkish on monetary policy — that is, inclined to raise rates — and somewhat looser on bank regulation , particularly as it pertains to community and regional banks. Those views will be critical in forging the road ahead. The Fed has begun a long and cautious road back to policy normalization, with five interest rate hikes since December 2015 . In addition, central bank officials have indicated that three more increases likely are on the way in 2018, a view the market recently has adapted as well. Along with the rate hikes comes a reduction in the Fed's balance sheet — a $4.5 trillion portfolio of mostly Treasurys and mortgage-backed securities, the great majority of which were acquired in three rounds of bond buying called quantitative easing . The Fed embarked on the program in an effort to pull down borrowing rates and, indirectly or not, drive investors into riskier assets like stocks and corporate bonds. The Fed currently is allowing a capped level of proceeds from the bonds to run off each month, with a top level of $50 billion in a year. Some market participants have speculated that if inflation starts running hotter that a Powell Fed might get more aggressive with the balance sheet reduction. Powell's term runs for four years. Yellen is the first Fed chair since G. William Miller during the Jimmy Carter administration to serve less than two terms.

https://www.cnbc.com/2018/01/23/jerome-powell-gets-final-approval-to-take-over-as-fed-chairman.html

Dutch could cut Groningen gas output by a fifth- analysts

January 30, 2018 / 3:58 PM / in 5 minutes Dutch could cut Groningen gas output by a fifth- analysts Reuters Staff * The Netherlands is most gas-reliant EU nation * Groningen gas output already 60 pct below 2013 peak * Government to cut production as much as possible * Falling export obligations ease demand pressure By Bart H. Meijer AMSTERDAM, Jan 30 (Reuters) - The Netherlands can cut gas output from the Groningen field by roughly a fifth after this month’s tremors but it will need to fill some of the gap with increased imports to meet domestic needs and honour its export contracts, analysts say. Groningen’s output, now capped at 21.6 billion cubic metres (bcm), has been cut by 60 percent from its 2013 peak to prevent tremors in the area caused by the production process. But more cuts are now required after strong seismic activity this month. Gas regulator SodM and gas transport company Gasunie will issue recommendations to the government on Thursday on the level of cuts needed at Groningen field, which is run by a venture of Royal Dutch Shell and Exxon Mobil. “Production could be lowered by a few billion cubic metres in the short run,” gas expert Rene Peters of Dutch research firm TNO told Reuters. “Production of at least 18 bcm per year looks needed to guarantee supply for now.” BMI Research analyst Richard Taylor said a cut of 18 bcm would be feasible but said deeper cuts were also possible. “We see a buffer of around 5 to 6 bcm which could potentially be used for lowering production”, Taylor said. “But we would expect the government to take more incremental steps.” Analysts said the Netherlands would still need to fill at least some of the shortfall from a further production cut by increasing imports, which now stand at about 25 bcm a year. But falling export obligations to buyers, which include Germany, Belgium and France, would relieve some pressure. “Export obligations shrink by around 2 bcm per year and the contracts will have expired completely by 2030,” Peters said. “That means we are only looking at a problem for the next five years in Groningen.” CONVERSION CAPACITY In the meantime, the Netherlands can import more gas from Norway and Russia by pipeline or from further afield in the form of liquefied natural gas (LNG). Imported gas needs to be adapted to match the specifications of low calorific Groningen gas in order to be used in the Netherlands, which depends on gas for 40 percent of its energy needs and is the most reliant on gas in the European Union. Although conversion facilities for imported gas are running near capacity, analysts said there was still enough room to fill the shortfall left by lower Groningen output. Dutch Economy Minister Eric Wiebes, who faces rising political pressure to reduce seismic risks, said output would be cut “by as much as reasonably possible”, after the strongest tremor in decades hit villages on Jan. 8. “So far, gas prices have shown little reaction to the Groningen debate. This seems to imply that only a modest cut is expected,” ABN Amro analyst Hans van Cleef said. Gasunie, which transports Groningen gas, previously put the minimum production needed to meet supply at 21 bcm. It is now reviewing its numbers after the government promised new cuts. “We are turning all the levers in our models to determine the level needed to guarantee supply, but is too early to give any indication of the outcome,” Gasunie spokesman Michiel Bal said. The Netherlands aims to shut all production at Groningen in the coming decade in its shift away from fossil fuels. To reduce gas demand, the government has proposed keeping new houses off the gas grid, and has told large industrial users that they will have to stop using low caloric gas by 2022. Reporting by Bart Meijer; Editing by Edmund Blair

https://www.reuters.com/article/netherlands-gas-groningen/dutch-could-cut-groningen-gas-output-by-a-fifth-analysts-idUSL8N1PE4AC

Factbox: Major oil tanker spills since 1970

BEIJING (Reuters) - A tanker carrying Iranian oil and run by the country’s top oil shipping operator was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship, leaving its 32 crew members missing. FILE PHOTO - Volunteers walk on a beach after they have removed crude oil spilled from the oil tanker Hebei Spirit in Taean , about 150 km (93 miles) southwest of Seoul, in this picture taken January 14, 2008. REUTERS/Jo Yong-Hak/Files The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude. That is equivalent to just under 1 million barrels. The damage and volume of oil spilled are not yet known. Tanker incidents causing large oil spills - greater than 700 tonnes - have steadily reduced from an average 24.5 a year in the 1970s to 1.7 on average per year since 2010, according to the International Tanker Owners Pollution Federation (ITOPF). Below is a list of the major oil tanker spills since 1970 from ITOPF’s database: 2007: Hebei Spirit off South Korea - 11,000 tonnes 2002: Prestige off Spain - 63,000 tonnes 1999: Erika off France - 20,000 tonnes 1996: Sea Empress off Wales, United Kingdom - 72,000 tonnes 1991: ABT Summer off Angola - 260,000 tonnes 1989: Khark 5 off Morocco - 70,000 tonnes Exxon Valdez, Alaska - 37,000 tonnes 1983: Castillo de Bellver off South Africa - 252,000 tonnes 1979: Atlantic Empress in the Caribbean - 287,000 tonnes The tonnages include all oil lost, including product which burnt or remained in a sunken vessel. Reporting by Josephine Mason; Editing by Susan Fenton

https://in.reuters.com/article/china-shipping-accident-oil-factbox/factbox-major-oil-tanker-spills-since-1970-idINKBN1EW0KW

Big Bash League Standings

January 16, 2018 / 11:34 AM / Updated 2 hours ago Big Bash League Standings Reuters Staff 1 Min Read Jan 16 (OPTA) - Standings of the Big Bash League on Tuesday P W L T Ded RR PTS Perth Scorchers 8 6 2 0 0 .103 12 Adelaide Strikers 7 5 2 0 0 .936 10 Hobart Hurricanes 7 5 2 0 0 -.228 10 Melbourne Renegades 7 4 3 0 0 .345 8 Brisbane Heat 8 4 4 0 0 .167 8 Sydney Thunder 8 3 5 0 0 -.200 6 Sydney Sixers 8 2 6 0 0 -.233 4 Melbourne Stars 7 1 6 0 0 -.917 2 Note: Ded-Deductions; RR-Net Run Rate

https://in.reuters.com/article/cricket-australia-standings/big-bash-league-standings-idINMTZXEE1GNBZ4VX

Kodak shares have more than tripled since company announced its new cryptocurrency 'KodakCoin'

19 Hours Ago | 00:47 Investors really love Eastman Kodak 's makeover. One day after the 130-year-old industrial company announced plans for its own cryptocurrency, shares are soaring 72 percent. KodakCoin will roll out after an initial coin offering later this month, Kodak said Tuesday. Blockchain, the technology underpinning popular digital currencies like bitcoin , is going to be used to build KodakOne, the company's new photo rights and royalties tracking product for digital photographers. KodakCoin will be the currency used on that platform. Kodak shares jumped more than 60 percent Wednesday and have now tripled since the announcement. The shares were around $3.13 before the announcement was put out and were last trading above $11. It is another step in the evolution of the faded American brand, once synonymous with film cartridges, paper and camera equipment. Kodak entered bankruptcy six years ago and emerged with a new focus on digital printing and packaging. But it still struggled to regain momentum. Like many old-line companies it has embraced cryptocurrencies and blockchain to remake its image, and time will tell whether that will stick. Shares of Long Blockchain Corp. doubled after the beverage company changed its name from Long Island Iced Tea Corp. in December. The biotech equipment maker Bioptix got a similar boost when it changed its name to Riot Blockchain last year.

https://www.cnbc.com/2018/01/10/kodak-shares-have-more-than-tripled-since-announcing-kodakcoin.html

Build European champions or be doomed, Vivendi CEO says

January 31, 2018 / 6:31 PM / Updated an hour ago Build European champions or be doomed, Vivendi CEO says Reuters Staff 3 Min Read MILAN, Jan 31 (Reuters) - Europe needs to build strong cross-border champions in media and telecoms or else it will by swallowed up by competitors from across the Atlantic or China, the chief executive of French media group Vivendi said on Wednesday. Vivendi has invested over 5 billion euros ($6.2 billion) in Italy over the past few years, building up a stake of 24 percent in Telecom Italia (TIM) and becoming the Italian phone group’s biggest investor. Vivendi also accumulated a stake of just under 30 percent in Italian broadcaster Mediaset which is controlled by the family of former Italian Prime Minister Silvio Berlusconi. Vivendi has long said it is a long-term investor in Italy and wants to use its investments to build a southern European media and content empire to rival the likes of Netflix. But the French media group’s growing influence at TIM - a former state phone monopoly with some assets that are considered to be of national importance - has raised concerns in Rome and led to questions about Vivendi’s ultimate goal in the country. “We need to build strong European players. If not we are doomed,” Arnaud de Puyfontaine, who last year was also appointed TIM’s executive chairman, said on the sidelines of a Reuters Breakingviews event in Milan. “We are competing against giants... Google, Apple, Time, Disney and Netflix... if we don’t want to be swallowed by those big giants, not to name the Chinese ones ... we have to have a European agenda. This agenda is a must,” he said. “And we are not talking about 30 years from now. This is something that is going to play out in the next five years.” De Puyfontaine said he remained bullish about Italy and TIM. Last year Italy said it wanted a say in some of TIM’s strategic decisions on assets which Rome deems to be of national importance in a move seen as a way of reining in Vivendi’s influence. Earlier on Wednesday, de Puyfontaine said he was confident of resolving outstanding issues between the former state phone monopoly and the Italian government to enable a new era of improved relations. “The proof of the pudding is in the eating, but I‘m bullish about Italy,” he said. ($1 = 0.8056 euros) (Reporting by Agnieszka Flak; Editing by Susan Fenton)

https://www.reuters.com/article/telecomitalia-vivendi-alliances/build-european-champions-or-be-doomed-vivendi-ceo-says-idUSL8N1PQ6T1

CSS Industries to Report Fiscal 2018 Third Quarter Results on February 7, 2018

PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)-- CSS Industries, Inc. (NYSE: CSS) will report its fiscal 2018 third quarter results through an earnings release issued after 4:15 p.m. ET on February 7, 2018. The Company will hold a conference call for investors on February 8, 2018 at 8:30 a.m. ET. The call can be accessed in the following ways: By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the dial-in number in the United States is (844) 458-8735, and for international callers, the dial-in number is (647) 253-8639. The conference ID for all callers is 3487705. By webcast: http://www.cssindustries.com/investor-relations . The webcast will be archived for those unable to participate live. About CSS Industries, Inc. CSS is a consumer products company within the seasonal, celebrations and craft markets that is primarily engaged in the design, manufacture, procurement, distribution and sale of seasonal, celebrations and craft social expression products, principally to mass market retailers. These products include craft ribbon and buttons, packaging ribbon and bows, sewing patterns, classroom exchange Valentines, infant products, journals, fashion buttons, boxed greeting cards, gift tags, gift card holders, gift bags, gift wrap, decorations, floral accessories, craft and educational products, Easter egg dyes and novelties, memory books, scrapbooks, stickers, stationery, and other items that commemorate life’s celebrations. With the recent acquisition of Simplicity Creative Group, these products also include decorative trims, knitting and crocheting tools, needle arts and kids’ craft products. //www.businesswire.com/news/home/20180118006369/en/ CSS Industries, Inc. John Roselli Chief Financial Officer 610-729-3750 Source: CSS Industries, Inc.

http://www.cnbc.com/2018/01/18/business-wire-css-industries-to-report-fiscal-2018-third-quarter-results-on-february-7-2018.html

East West Bancorp Reports Record Net Income for Full Year 2017 of $505.6 Million and Diluted Earnings Per Share of $3.47, Both up by 17% from the Prior Year

PASADENA, Calif.--(BUSINESS WIRE)-- East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, today reported its financial results for the fourth quarter and full year of 2017. For the fourth quarter of 2017, net income was $84.9 million or $0.58 per diluted share. For the full year 2017, net income was $505.6 million or $3.47 per diluted share. “Our full year 2017 record earnings increased by 17% year-over-year, reflecting strong revenue growth augmented by contained expenses and credit costs. In 2017, total loans grew $3.5 billion or 14% year-over-year to a record $29.1 billion from $25.5 billion as of December 31, 2016,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “Total deposits grew $2.3 billion or 8% year-over-year to a record $32.2 billion as of December 31, 2017 from $29.9 billion at the end of the previous year.” “During the year, East West’s net interest margin expanded by 18 basis points, reflecting our loan growth, attractive deposit mix, and the benefits of higher interest rates on our asset sensitive balance sheet,” continued Ng. “This has been a key component of our profitability; in 2017, we earned a return on average assets of 1.41% and a return on average equity of 13.7%. I would like to thank our 3,000 associates for their dedication and diligence in delivering another year of strong earnings for our shareholders.” “At East West, we focus on creating sustainable, expandable and profitable customer relationships. Our consistent financial results year after year reflect the value of this customer focus and our business model as the financial bridge between the East and the West. We are committed to investing in technology and human capital to drive our business forward, continuously strengthening our infrastructure to ensure prudent risk management and operational excellence,” concluded Ng. HIGHLIGHTS OF RESULTS Full Year and Fourth Quarter Earnings – Full year 2017 net income of $505.6 million grew by 17% year-over-year from $431.7 million; full year 2017 diluted earnings per share (“EPS”) of $3.47 grew by 17% from $2.97 in the previous year. Fourth quarter 2017 net income of $84.9 million and diluted EPS of $0.58 were reduced by $41.7 million 1 , or $0.29 1 per share, due to the enactment of the Tax Cuts and Jobs Act. This reduction in earnings was primarily attributable to the remeasurement of the net deferred tax asset as a result of the reduced corporate tax rate. Fourth quarter 2017 adjusted 1 net income of $126.6 million and adjusted 1 diluted EPS of $0.87 increased by 14% year-over-year, and decreased by 3% linked quarter. Net Interest Income Growth and Net Interest Margin Expansion – Net interest income totaled $319.7 million for the fourth quarter of 2017, an increase of $16.5 million or 5% linked quarter. Accounting Standard Codification (“ASC”) 310-30 discount accretion income was $7.0 million for the fourth quarter of 2017, compared to $4.5 million for the third quarter of 2017. Excluding discount accretion income, fourth quarter 2017 adjusted 2 net interest income of $312.7 million increased by $14.1 million or 5% sequentially, due to loan growth and the expansion of loan yields. Fourth quarter 2017 net interest margin (“NIM”) of 3.57% expanded by five basis points linked quarter; adjusted 2 NIM of 3.49% expanded by three basis points linked quarter. Record Loans – Total loans of $29.1 billion as of December 31, 2017 were up $528.4 million or 2%, from $28.5 billion as of September 30, 2017. Total loans grew by $3.5 billion or 14% year-over-year. Quarter-over-quarter, all major loan categories grew; the strongest sequential quarter loan growth came from the single-family residential mortgage portfolio. Record Deposits – Total deposits of $32.2 billion as of December 31, 2017 were up $908.5 million or 3%, from $31.3 billion as of September 30, 2017. Total deposits grew by $2.3 billion or 8% year-over-year. The strongest sequential quarter deposit growth came from interest-bearing checking and money market deposits. Noninterest-bearing demand deposits of $10.9 billion made up 34% of deposits as of December 31, 2017. Pending Sale of Desert Community Bank Branches – In November 2017, East West Bank announced the sale of its eight Desert Community Bank (“DCB”) branches and related assets and liabilities. As of December 31, 2017, branch assets held-for-sale (“HFS”) were $91.3 million, of which loans HFS were $78.1 million and deposits HFS were $605.1 million. Loans HFS were primarily commercial real estate and commercial and industrial loans. Deposits HFS were primarily composed of noninterest-bearing demand accounts and savings deposits. All regulatory approvals necessary for this transaction have been received, and the sale is expected to close in the first quarter of 2018. Asset Qualit y Metrics – The allowance for loan losses was $287.1 million, or 0.99% of loans held-for-investment (“HFI”), as of December 31, 2017, compared to $285.9 million, or 1.00% of loans HFI, as of September 30, 2017. For the fourth quarter of 2017, annualized net charge-offs were 0.22% of average loans HFI, compared to annualized net charge-offs of 0.06% of average loans HFI for the previous quarter. Full year 2017 net charge-offs were 0.08% of average loans HFI. Non-purchased credit impaired (“Non-PCI”) nonperforming assets decreased to $115.1 million, or 0.31% of total assets, as of December 31, 2017, from $117.0 million, or 0.32% of total assets, as of September 30, 2017. Capital Levels – Capital levels for East West continue to be strong. As of December 31, 2017, stockholders’ equity was $3.8 billion, or $26.58 per share. Tangible equity 3 per common share was $23.13 as of December 31, 2017, an increase of 2% linked quarter and 14% year-over-year. As of December 31, 2017, the tangible equity to tangible assets ratio 3 was 9.12%, the Common Equity Tier 1 (“CET1”) capital ratio was 11.4%, and the total risk-based capital ratio was 12.9%. 1 See reconciliation of GAAP to non-GAAP financial measures in Table 13. 2 See reconciliation of GAAP to non-GAAP financial measures in Table 15. 3 See reconciliation of GAAP to non-GAAP financial measures in Table 16. QUARTERLY RESULTS SUMMARY Quarter Ended ($ in millions, except per share data) December 31, 2017 September 30, 2017 December 31, 2016 Net income $ 84.9 $ 132.7 $ 110.7 Earnings per share (diluted) $ 0.58 $ 0.91 $ 0.76 Adjusted earnings per share (diluted) (1) $ 0.87 $ 0.89 $ 0.76 Book value per common share $ 26.58 $ 26.17 $ 23.78 Tangible equity (1) per common share $ 23.13 $ 22.71 $ 20.27 Tangible equity to tangible assets ratio (1) 9.12 % 9.17 % 8.52 % Return on average assets (2) 0.90 % 1.46 % 1.27 % Return on average equity (2) 8.73 % 14.01 % 12.87 % Return on average tangible equity (1)(2) 10.17 % 16.33 % 15.26 % Adjusted return on average assets (1)(2) 1.35 % 1.44 % 1.27 % Adjusted return on average equity (1)(2) 13.02 % 13.78 % 12.87 % Adjusted return on average tangible equity (1)(2) 15.10 % 16.06 % 15.26 % Adjusted pre-tax, pre-provision profitability ratio (1)(2) 2.27 % 2.32 % 2.10 % Net interest income $ 319.7 $ 303.2 $ 272.7 Adjusted net interest income (1) $ 312.7 $ 298.6 $ 261.1 Net interest margin (2) 3.57 % 3.52 % 3.31 % Adjusted net interest margin (1)(2) 3.49 % 3.46 % 3.17 % Cost of deposits (2) 0.43 % 0.40 % 0.31 % Efficiency ratio 48.1 % 46.6 % 46.6 % Adjusted efficiency ratio (1) 41.6 % 39.8 % 43.2 % (1) See reconciliation of GAAP to non-GAAP financial measures in Tables 13, 14, 15 and 16. (2) Annualized. MANAGEMENT OUTLOOK FOR 2018 Our current outlook for the expected full year 2018 results, compared to our full year 2017 results, is as follows: End of Period Loans: increase at a percentage rate of approximately 10%. Net Interest Margin (excluding the impact of ASC 310-30 discount accretion) : between 3.65% and 3.75%. Noninterest Expense (excluding tax credit amortization & deposit premium amortization) : increase at a percentage rate in the high single digits. Provision for Credit Losses: in the range of $70 million to $80 million. Tax Items: projecting investment in tax-advantaged credits of $105 million, excluding low income housing tax credits, and associated tax credit amortization expense of $85 million. Projecting full year effective tax rate of approximately 16%. Interest Rates: our outlook incorporates the current forward rate curve; as such, it currently assumes three fed funds rate increases in the year 2018: in March, June and September. OPERATING RESULTS SUMMARY Fourth Quarter 2017 Compared to Third Quarter 2017 Net Interest Income Net interest income totaled $319.7 million, a 5% increase from $303.2 million. Adjusted net interest income, excluding ASC 310-30 discount accretion income, grew to $312.7 million, a 5% increase from $298.6 million. Average loans of $28.6 billion grew by $1.1 billion or 16% annualized from $27.5 billion. Average deposits of $32.3 billion grew by $1.2 billion or 15% annualized from $31.1 billion. Average noninterest-bearing demand deposits of $11.5 billion grew by $875.3 million or 33% annualized from $10.7 billion. Net Interest Margin Net interest margin expanded by five basis points to 3.57% from 3.52%. Excluding the impact of ASC 310-30 discount accretion income, adjusted NIM expanded by three basis points to 3.49% from 3.46%. The yield on loans expanded by 10 basis points to 4.52% from 4.42%; the adjusted 4 loan yield expanded by seven basis points to 4.42% from 4.35%. The cost of deposits increased by three basis points to 0.43% from 0.40%. Noninterest Income Total noninterest income of $45.4 million was down by $4.3 million sequentially. Excluding the impact of all gains on sales, total fees and other operating income of $38.5 million was down by $2.3 million, or 6%, from $40.9 million for the third quarter of 2017. This decline was primarily from decreases in derivative fees and other income, as well as in wealth management fees, due to lower customer transaction volumes. The following table presents total fees and other operating income for the three months ended December 31, 2017, September 30, 2017 and December 31, 2016. Quarter Ended ($ in thousands) December 31, 2017 September 30, 2017 December 31, 2016 Branch fees $ 10,691 $ 10,803 $ 10,195 Letters of credit fees and foreign exchange income 9,570 10,154 14,356 Ancillary loan fees and other income 6,457 5,987 5,355 Wealth management fees 2,950 3,615 3,378 Derivative fees and other income 4,737 6,663 7,003 Other fees and operating income 4,144 3,652 7,237 Total fees and other operating income $ 38,549 $ 40,874 $ 47,524 Noninterest Expense Noninterest expense of $175.4 million includes $151.9 million of adjusted 5 noninterest expense, $21.9 million amortization of tax credit and other investments, and $1.6 million amortization of core deposit intangibles. Adjusted noninterest expense of $151.9 million increased by $13.0 million, or 9% linked quarter. This growth was driven by a $10.8 million increase in compensation and employee benefits, largely reflecting increased hiring along with increases in bonus accrual and restricted stock compensation. The adjusted 5 efficiency ratio was 41.6% in the fourth quarter, compared to 39.8% in the third quarter, due to the growth in expenses. TAX RELATED ITEMS The Company’s full year 2017 effective tax rate was 31%, resulting in tax expense of $229.5 million, compared to an effective tax rate of 25% and tax expense of $140.5 million for the full year 2016. The effective tax rates for the full year and the fourth quarter of 2017 were elevated because of nonrecurring items related to the enactment of the Tax Cuts and Jobs Act, which lowered the federal corporate tax rate to 21% from 35%. These nonrecurring items included a $33.1 million remeasurement of the net deferred tax asset and a $7.9 million remeasurement of investments in qualified affordable housing partnerships, recorded in the fourth quarter of 2017. These adjustments are management’s best estimate based on the information available as of this earnings release and are subject to change as final tax calculations are completed in conjunction with the filing of the Form 10-K. Tax expense in the fourth quarter of 2017 was $89.2 million, compared to $42.6 million in the third quarter of 2017. The total impact of the Tax Cuts and Jobs Act was an increase in tax expense of $41.7 million, or $0.29 per share, in the fourth quarter of 2017. Excluding this impact, the adjusted 6 tax expense for the fourth quarter of 2017 was $47.5 million and the adjusted 6 effective tax rate was 27%. Adjusted 6 tax expense for the full year 2017 was $187.8 million and the adjusted 6 effective tax rate was 26%. For the full year 2018, the Company is projecting an effective tax rate of approximately 16%. CREDIT QUALITY The allowance for loan losses totaled $287.1 million, or 0.99% of loans HFI, as of December 31, 2017, compared to $285.9 million, or 1.00% of loans HFI, as of September 30, 2017, and $260.5 million, or 1.02% of loans HFI, as of December 31, 2016. The provision for credit losses recorded for the current quarter was $15.5 million, compared to $13.0 million for the third quarter of 2017, and $10.5 million for the fourth quarter of 2016. For the fourth quarter of 2017, net charge-offs were $15.7 million or 0.22% of average loans HFI, annualized. This compares to net charge-offs of $3.8 million or 0.06% of average loans HFI, annualized, for the third quarter of 2017, and net charge-offs of $8.0 million or 0.13% of average loans HFI, annualized, for the fourth quarter of 2016. For the full year 2017, net charge-offs of $22.5 million were 0.08% of average loans HFI, compared to $36.2 million, or 0.15% of average loans HFI, for the full year 2016. Non-PCI nonperforming assets of $115.1 million as of December 31, 2017, decreased by $1.9 million, or 2% linked quarter, from $117.0 million as of September 30, 2017, and decreased by $14.4 million, or 11% year-over-year, from $129.6 million as of December 31, 2016. Non-PCI nonperforming assets were equivalent to 0.31% of total assets at the end of 2017, compared to 0.32% at the end of the previous quarter and 0.37% at the end of 2016. 4 See reconciliation of GAAP to non-GAAP financial measures in Table 15. 5 See reconciliation of GAAP to non-GAAP financial measures in Table 14. 6 See reconciliation of GAAP to non-GAAP financial measures in Table 12. CAPITAL STRENGTH Capital levels for East West continue to be strong. As of December 31, 2017, stockholders’ equity was $3.8 billion, or $26.58 per share. Tangible equity per common share was $23.13 as of December 31, 2017, an increase of 2% linked quarter and 14% year-over-year. The following table presents the regulatory capital ratios for the quarters ended December 31, 2017, September 30, 2017, and December 31, 2016. Regulatory Capital Metrics Basel III ($ in millions) December 31, 2017 (a) September 30, 2017 December 31, 2016 Minimum Regulatory Requirements Well Capitalized Regulatory Requirements Fully Phased- in Minimum Regulatory Requirements CET1 capital ratio 11.4 % 11.4 % 10.9 % 4.5 % 6.5 % 7.0 % Tier 1 risk-based capital ratio 11.4 % 11.4 % 10.9 % 6.0 % 8.0 % 8.5 % Total risk-based capital ratio 12.9 % 12.9 % 12.4 % 8.0 % 10.0 % 10.5 % Tier 1 leverage capital ratio 9.2 % 9.4 % 8.7 % 4.0 % 5.0 % 4.0 % Risk-Weighted Assets (“RWA”) (b) $ 29,669 $ 29,178 $ 27,358 N/A N/A N/A N/A Not applicable. (a) The Company’s December 31, 2017 regulatory capital ratios and RWA are preliminary. (b) Under regulatory guidelines, on-balance sheet assets and credit equivalent amounts of derivatives and off-balance sheet items are assigned to one of several broad risk categories based on the nature of the obligor, or, if relevant, the guarantor or the nature of any collateral. The aggregate dollar value in each risk category is then multiplied by the risk weight associated with that category. The resulting weighted values from each of the risk categories are aggregated for determining total RWA. DIVIDEND PAYOUT AND CAPITAL ACTIONS East West’s Board of Directors has declared first quarter 2018 dividends for the Company’s common stock. The common stock cash dividend of $0.20 per share is payable on February 15, 2018 to shareholders of record on February 5, 2018. Conference Call East West will host a conference call to discuss fourth quarter and full year 2017 earnings with the public on Thursday, January 25, 2018 at 8:30 a.m. PT/11:30 a.m. ET. The public and investment community are invited to listen as management discusses fourth quarter and full year 2017 results and operating developments. The following dial-in information is provided for participation in the conference call: calls within the U.S. – (877) 506-6399; calls within Canada – (855) 669-9657; international calls – (412) 902-6699. A presentation to accompany the earnings call will be available on the Investor Relations page of the Company’s website at www.eastwestbank.com/investors . A listen-only live broadcast of the call will also be available on the Investor Relations page of the Company’s website at www.eastwestbank.com/investors . A replay of the conference call will be available on January 25, 2018 at 11:30 a.m. Pacific Time through February 25, 2018. The replay numbers are: within the U.S. – (877) 344-7529; within Canada – (855) 669-9658; International calls – (412) 317-0088; and the replay access code is: 10115137. About East West East West Bancorp, Inc. is a publicly owned company with total assets of $37.2 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly-owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California. East West is a premier bank focused exclusively on the United States and Greater China markets and operates over 130 locations worldwide, including in the United States markets of California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. In Greater China, East West’s presence includes full service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, Taipei and Xiamen. For more information on East West, visit the Company’s website at www.eastwestbank.com . Forward-Looking Statements Certain matters set forth herein (including any exhibits hereto) constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations regarding future operating results. Forward-looking statements may include, but are not limited to, the use of forward-looking language, such as “likely result in,” “expects,” “anticipates,” “estimates,” “forecasts,” “projects,” “intends to,” or may include other similar words or phrases, such as “believes,” “plans,” “trend,” “objective,” “continues,” “remains,” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” “may,” “might,” “can,” or similar verbs. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected. These risks and uncertainties, some of which are beyond our control, include, but are not limited to, our ability to compete effectively against other financial institutions in our banking markets; changes in the commercial and consumer real estate markets; changes in our costs of operation, compliance and expansion; changes in the U.S. economy, including inflation, employment levels, rate of growth and general business conditions; changes in government interest rate policies; changes in laws or the regulatory environment including regulatory reform initiatives and policies of the U.S. Department of Treasury, the Board of Governors of the Federal Reserve Board System, the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, the Consumer Financial Protection Bureau and California Department of Business Oversight — Division of Financial Institutions; heightened regulatory and governmental oversight and scrutiny of the Company’s business practices, including dealings with consumers; changes in the economy of and monetary policy in the People’s Republic of China; changes in income tax laws and regulations including, but not limited to, under the Tax Cuts and Jobs Act; changes in accounting standards as may be required by the Financial Accounting Standards Board or other regulatory agencies and their impact on critical accounting policies and assumptions; changes in the equity and debt securities markets; future credit quality and performance, including our expectations regarding future credit losses and allowance levels; fluctuations of our stock price; fluctuations in foreign currency exchange rates; success and timing of our business strategies; our ability to adopt and successfully integrate new technologies into our business in a strategic manner; impact of reputational risk from negative publicity, fines and penalties and other negative consequences from regulatory violations and legal actions; impact of potential federal tax changes and spending cuts; impact of adverse judgments or settlements in litigation or of regulatory enforcement actions; changes in our ability to receive dividends from our subsidiaries; impact of political developments, wars or other hostilities that may disrupt or increase volatility in securities or otherwise affect economic conditions; impact of natural or man-made disasters or calamities or conflicts or other events that may directly or indirectly result in a negative impact on the Company’s financial performance; continuing consolidation in the financial services industry; our capital requirements and our ability to generate capital internally or raise capital on favorable terms; impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on our business, business practices and cost of operations; impact of adverse changes to our credit ratings from the major credit rating agencies; impact of failure in, or breach of, our operational or security systems or infrastructure, or those of third parties with whom we do business, including as a result of cyber attacks; and other similar matters which could result in, among other things, confidential and/or proprietary information being disclosed or misused; adequacy of our risk management framework, disclosure controls and procedures and internal control over financial reporting; the effect of the current low interest rate environment or changes in interest rates on our net interest income and net interest margin; the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; a recurrence of significant turbulence or disruption in the capital or financial markets, which could result in, among other things, a reduction in the availability of funding or increased funding costs, reduced investor demand for mortgage loans and declines in asset values and/or recognition of other-than-temporary impairment on securities held in our available-for-sale investment securities portfolio; and other factors set forth in the Company’s public reports including its Annual Report on Form 10-K for the year ended December 31, 2016, and particularly the discussion of risk factors within that document. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, the Company’s results could differ materially from those expressed in, implied or projected by such forward-looking statements. The Company assumes no obligation to update such forward-looking statements. EAST WEST BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET ($ and shares in thousands, except per share data) (unaudited) Table 1 December 31, 2017 % Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr Assets Cash and due from banks $ 457,181 $ 364,328 $ 460,559 25.5 % (0.7 )% Interest-bearing cash with banks 1,717,411 1,372,421 1,417,944 25.1 21.1 Cash and cash equivalents 2,174,592 1,736,749 1,878,503 25.2 15.8 Interest-bearing deposits with banks 398,422 404,946 323,148 (1.6 ) 23.3 Securities purchased under resale agreements (“resale agreements”) (1) 1,050,000 1,250,000 2,000,000 (16.0 ) (47.5 ) Investment securities 3,016,752 2,956,776 3,479,766 2.0 (13.3 ) Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) stock 73,521 73,322 72,775 0.3 1.0 Loans held-for-sale (“HFS”) 85 178 23,076 (52.2 ) (99.6 ) Loans held-for-investment (net of allowance for loan losses of $287,128, $285,926 and $260,520) 28,688,590 28,239,431 25,242,619 1.6 13.7 Investments in qualified affordable housing partnerships, net 162,824 178,344 183,917 (8.7 ) (11.5 ) Investments in tax credit and other investments, net 224,551 203,758 173,280 10.2 29.6 Goodwill 469,433 469,433 469,433 — — Branch assets HFS (2) 91,318 — — 100.0 100.0 Other assets 800,161 795,029 942,323 0.6 (15.1 ) Total assets $ 37,150,249 $ 36,307,966 $ 34,788,840 2.3 % 6.8 % Liabilities and Stockholders’ Equity Deposits $ 31,615,063 $ 31,311,662 $ 29,890,983 1.0 % 5.8 % Deposits HFS (2) 605,111 — — 100.0 100.0 Short-term borrowings — 24,813 60,050 (100.0 ) (100.0 ) FHLB advances 323,891 323,323 321,643 0.2 0.7 Securities sold under repurchase agreements (“repurchase agreements”) (1) 50,000 50,000 350,000 — (85.7 ) Long-term debt 171,577 176,513 186,327 (2.8 ) (7.9 ) Accrued expenses and other liabilities 542,656 639,759 552,096 (15.2 ) (1.7 ) Total liabilities 33,308,298 32,526,070 31,361,099 2.4 6.2 Stockholders’ equity 3,841,951 3,781,896 3,427,741 1.6 12.1 Total liabilities and stockholders’ equity $ 37,150,249 $ 36,307,966 $ 34,788,840 2.3 % 6.8 % Book value per common share $ 26.58 $ 26.17 $ 23.78 1.6 % 11.8 % Tangible equity (3) per common share $ 23.13 $ 22.71 $ 20.27 1.9 14.1 Tangible equity to tangible assets ratio (3) 9.12 % 9.17 % 8.52 % (0.5 ) 7.0 Number of common shares at period-end 144,543 144,511 144,167 0.0 0.3 (1) Resale and repurchase agreements are reported net pursuant to Accounting Standards Codification (“ASC”) 210-20-45, Balance Sheet Offsetting. As of December 31, 2017, September 30, 2017, and December 31, 2016, $400.0 million, $400.0 million and $100.0 million out of $450.0 million of gross repurchase agreements were eligible for netting against resale agreements, respectively. (2) Represents the DCB branch assets and deposits that were classified as HFS as of December 31, 2017. Branch assets HFS primarily comprised $78.1 million in loans. (3) See reconciliation of GAAP to non-GAAP financial measures in Table 16. EAST WEST BANCORP, INC. AND SUBSIDIARIES TOTAL LOANS AND DEPOSITS DETAIL ($ in thousands) (unaudited) Table 2 December 31, 2017 % Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr Loans: Commercial lending: Commercial and industrial (“C&I”) $ 10,697,231 $ 10,645,156 $ 9,640,563 0.5 % 11.0 % Commercial real estate (“CRE”) 8,936,897 8,843,776 8,016,109 1.1 11.5 Multifamily residential 1,916,176 1,876,956 1,585,939 2.1 20.8 Construction and land 659,697 683,404 674,754 (3.5 ) (2.2 ) Consumer lending: Single-family residential 4,646,289 4,356,009 3,509,779 6.7 32.4 Home equity lines of credit (“HELOCs”) 1,782,924 1,767,419 1,760,776 0.9 1.3 Other consumer 336,504 352,637 315,219 (4.6 ) 6.8 Total loans held-for-investment (1)(2) 28,975,718 28,525,357 25,503,139 1.6 13.6 Loans HFS (3) 78,217 178 23,076 NM 239.0 Total loans (1)(2) 29,053,935 28,525,535 25,526,215 1.9 13.8 Allowance for loan losses (287,128 ) (285,926 ) (260,520 ) 0.4 10.2 Net loans (1)(2) $ 28,766,807 $ 28,239,609 $ 25,265,695 1.9 % 13.9 % Deposits: Noninterest-bearing demand $ 10,887,306 $ 10,992,674 $ 10,183,946 (1.0 )% 6.9 % Interest-bearing checking 4,419,089 4,108,859 3,674,417 7.6 20.3 Money market 8,359,425 7,939,031 8,174,854 5.3 2.3 Savings 2,308,494 2,476,557 2,242,497 (6.8 ) 2.9 Total core deposits 25,974,314 25,517,121 24,275,714 1.8 7.0 Time deposits 5,640,749 5,794,541 5,615,269 (2.7 ) 0.5 Deposits HFS 605,111 — — 100.0 100.0 Total deposits $ 32,220,174 $ 31,311,662 $ 29,890,983 2.9 % 7.8 % NM Not Meaningful (1) Includes $(34.0) million, $(29.2) million and $1.2 million as of December 31, 2017, September 30, 2017 and December 31, 2016, respectively, of net deferred loan fees, unearned fees, unamortized premiums and unaccreted discounts. (2) Includes ASC 310-30 discount of $35.3 million, $39.1 million and $49.4 million as of December 31, 2017, September 30, 2017 and December 31, 2016, respectively. (3) Includes $78.1 million of loans HFS in branch assets HFS. EAST WEST BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF INCOME ($ and shares in thousands, except per share data) (unaudited) Table 3 Quarter Ended December 31, 2017 % Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr Interest and dividend income $ 359,765 $ 339,910 $ 302,127 5.8 % 19.1 % Interest expense 40,064 36,755 29,425 9.0 36.2 Net interest income before provision for credit losses 319,701 303,155 272,702 5.5 17.2 Provision for credit losses 15,517 12,996 10,461 19.4 48.3 Net interest income after provision for credit losses 304,184 290,159 262,241 4.8 16.0 Noninterest income 45,359 49,624 48,800 (8.6 ) (7.1 ) Noninterest expense 175,416 164,499 149,904 6.6 17.0 Income before income taxes 174,127 175,284 161,137 (0.7 ) 8.1 Income tax expense 89,229 42,624 50,403 109.3 77.0 Net income $ 84,898 $ 132,660 $ 110,734 (36.0 )% (23.3 )% Earnings per share (“EPS”) - Basic $ 0.59 $ 0.92 $ 0.77 (36.0 )% (23.5 )% - Diluted $ 0.58 $ 0.91 $ 0.76 (36.1 ) (23.6 ) Weighted average number of shares outstanding - Basic 144,542 144,498 144,166 0.0 % 0.3 % - Diluted 146,030 145,882 145,428 0.1 0.4 Quarter Ended December 31, 2017 % Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr Noninterest income: Branch fees $ 10,691 $ 10,803 $ 10,195 (1.0 )% 4.9 % Letters of credit fees and foreign exchange income 9,570 10,154 14,356 (5.8 ) (33.3 ) Ancillary loan fees and other income 6,457 5,987 5,355 7.9 20.6 Wealth management fees 2,950 3,615 3,378 (18.4 ) (12.7 ) Derivative fees and other income 4,737 6,663 7,003 (28.9 ) (32.4 ) Net gains (losses) on sales of loans 2,210 2,361 (880 ) (6.4 ) NM Net gains on sales of available-for-sale investment securities 1,304 1,539 1,894 (15.3 ) (31.2 ) Net gains on sales of fixed assets 3,296 1,043 262 216.0 1,158.0 Net gain on sale of business — 3,807 — (100.0 ) — Other fees and operating income 4,144 3,652 7,237 13.5 (42.7 ) Total noninterest income $ 45,359 $ 49,624 $ 48,800 (8.6 )% (7.1 )% Noninterest expense: Compensation and employee benefits $ 90,361 $ 79,583 $ 79,949 13.5 % 13.0 % Occupancy and equipment expense 17,092 16,635 15,834 2.7 7.9 Deposit insurance premiums and regulatory assessments 6,351 5,676 5,938 11.9 7.0 Legal expense 2,514 3,316 (9,873 ) (24.2 ) NM Data processing 3,084 3,004 2,971 2.7 3.8 Consulting expense 4,147 4,087 3,715 1.5 11.6 Deposit related expense 2,655 2,413 2,719 10.0 (2.4 ) Computer software expense 4,360 4,393 3,647 (0.8 ) 19.6 Other operating expense 21,340 19,830 20,428 7.6 4.5 Amortization of tax credit and other investments 21,891 23,827 22,667 (8.1 ) (3.4 ) Amortization of core deposit intangibles 1,621 1,735 1,909 (6.6 ) (15.1 ) Total noninterest expense $ 175,416 $ 164,499 $ 149,904 6.6 % 17.0 % NM Not Meaningful EAST WEST BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF INCOME ($ and shares in thousands, except per share data) (unaudited) Table 4 Year Ended December 31, 2017 % Change December 31, 2017 December 31, 2016 Yr-o-Yr Interest and dividend income $ 1,325,119 $ 1,137,481 16.5 % Interest expense 140,050 104,843 33.6 Net interest income before provision for credit losses 1,185,069 1,032,638 14.8 Provision for credit losses 46,266 27,479 68.4 Net interest income after provision for credit losses 1,138,803 1,005,159 13.3 Noninterest income 258,406 182,918 41.3 Noninterest expense 662,109 615,889 7.5 Income before income taxes 735,100 572,188 28.5 Income tax expense 229,476 140,511 63.3 Net income $ 505,624 $ 431,677 17.1 % EPS - Basic $ 3.50 $ 3.00 16.8 % - Diluted $ 3.47 $ 2.97 16.5 Weighted average number of shares outstanding - Basic 144,444 144,087 0.2 % - Diluted 145,913 145,172 0.5 Year Ended December 31, 2017 % Change December 31, 2017 December 31, 2016 Yr-o-Yr Noninterest income: Branch fees $ 42,490 $ 41,178 3.2 % Letters of credit fees and foreign exchange income 42,779 45,760 (6.5 ) Ancillary loan fees and other income 23,333 19,352 20.6 Wealth management fees 14,632 13,240 10.5 Derivative fees and other income 17,671 16,781 5.3 Net gains on sales of loans 8,870 6,085 45.8 Net gains on sales of available-for-sale investment securities 8,037 10,362 (22.4 ) Net gains on sales of fixed assets 77,388 3,178 2,335.1 Net gain on sale of business 3,807 — 100.0 Other fees and operating income 19,399 26,982 (28.1 ) Total noninterest income $ 258,406 $ 182,918 41.3 % Noninterest expense: Compensation and employee benefits $ 335,291 $ 300,115 11.7 % Occupancy and equipment expense 64,921 61,453 5.6 Deposit insurance premiums and regulatory assessments 23,735 23,279 2.0 Legal expense 11,444 2,841 302.8 Data processing 12,093 11,683 3.5 Consulting expense 14,922 22,742 (34.4 ) Deposit related expense 9,938 10,394 (4.4 ) Computer software expense 18,183 12,914 40.8 Other operating expense 76,697 78,936 (2.8 ) Amortization of tax credit and other investments 87,950 83,446 5.4 Amortization of core deposit intangibles 6,935 8,086 (14.2 ) Total noninterest expense $ 662,109 $ 615,889 7.5 % EAST WEST BANCORP, INC. AND SUBSIDIARIES SELECTED AVERAGE BALANCES ($ in thousands) (unaudited) Table 5 Quarter Ended December 31, 2017 % Change Year Ended December 31, 2017 % Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr December 31, 2017 December 31, 2016 Yr-o-Yr Loans: Commercial lending: C&I $ 10,518,121 $ 10,259,807 $ 9,454,884 2.5 % 11.2 % $ 10,180,582 $ 9,091,532 12.0 % CRE 8,917,681 8,518,461 7,869,979 4.7 13.3 8,485,323 7,795,690 8.8 Multifamily residential 1,909,933 1,808,236 1,467,978 5.6 30.1 1,785,210 1,433,142 24.6 Construction and land 674,337 672,875 734,081 0.2 (8.1 ) 669,073 681,937 (1.9 ) Consumer lending: Single-family residential 4,498,180 4,163,900 3,407,615 8.0 32.0 4,013,542 3,184,834 26.0 HELOCs 1,783,762 1,768,951 1,762,191 0.8 1.2 1,780,377 1,755,649 1.4 Other consumer 344,447 337,549 336,468 2.0 2.4 338,649 322,111 5.1 Total loans (1) $ 28,646,461 (2) $ 27,529,779 $ 25,033,196 4.1 % 14.4 % $ 27,252,756 (2) $ 24,264,895 12.3 % Investment securities $ 2,925,817 $ 2,963,122 $ 3,551,863 (1.3 )% (17.6 )% $ 3,026,693 $ 3,355,086 (9.8 )% Interest-earning assets $ 35,491,424 $ 34,208,533 $ 32,736,669 3.8 % 8.4 % $ 34,034,065 $ 31,296,775 8.7 % Total assets $ 37,262,618 $ 35,937,567 $ 34,679,137 3.7 % 7.4 % $ 35,787,613 $ 33,169,373 7.9 % Deposits: Noninterest-bearing demand $ 11,531,181 $ 10,655,860 $ 10,159,022 8.2 % 13.5 % $ 10,627,718 $ 9,371,481 13.4 % Interest-bearing checking 4,313,732 4,014,290 3,641,320 7.5 18.5 3,951,930 3,495,094 13.1 Money market 8,198,133 7,997,648 8,157,508 2.5 0.5 8,026,347 7,679,695 4.5 Savings 2,472,207 2,423,312 2,284,282 2.0 8.2 2,369,398 2,104,060 12.6 Total core deposits 26,515,253 25,091,110 24,242,132 5.7 9.4 24,975,393 22,650,330 10.3 Time deposits 5,735,014 5,974,793 5,584,838 (4.0 ) 2.7 5,838,382 5,852,042 (0.2 ) Total deposits $ 32,250,267 (3) $ 31,065,903 $ 29,826,970 3.8 % 8.1 % $ 30,813,775 (3) $ 28,502,372 8.1 % Interest-bearing liabilities $ 21,280,348 $ 20,989,149 $ 20,522,442 1.4 % 3.7 % $ 20,930,965 $ 19,947,414 4.9 % Stockholders’ equity $ 3,856,802 $ 3,756,207 $ 3,423,405 2.7 % 12.7 % $ 3,687,213 $ 3,305,929 11.5 % (1) Includes ASC 310-30 discount of $37.7 million, $41.9 million and $54.7 million for the quarters ended December 31, 2017, September 30, 2017 and December 31, 2016, respectively, and $43.3 million and $64.3 million for the years ended December 31, 2017 and 2016, respectively. (2) Includes loans HFS. (3) Includes deposits HFS. EAST WEST BANCORP, INC. AND SUBSIDIARIES QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES ($ in thousands) (unaudited) Table 6 Quarter Ended December 31, 2017 September 30, 2017 Average Average Average Average Balance Interest Yield/Rate (1) Balance Interest Yield/Rate (1) Assets Interest-earning assets: Interest-bearing cash and deposits with banks $ 2,743,548 $ 11,092 1.60 % $ 2,344,561 $ 9,630 1.63 % Resale agreements (2) 1,102,174 6,873 2.47 % 1,297,826 7,901 2.42 % Investment securities 2,925,817 14,734 2.00 % 2,963,122 14,828 1.99 % Loans (3) 28,646,461 326,401 4.52 % 27,529,779 306,939 4.42 % FHLB and FRB stock 73,424 665 3.59 % 73,245 612 3.31 % Total interest-earning assets 35,491,424 359,765 4.02 % 34,208,533 339,910 3.94 % Noninterest-earning assets: Cash and due from banks 417,798 387,705 Allowance for loan losses (285,490 ) (276,467 ) Other assets 1,638,886 1,617,796 Total assets $ 37,262,618 $ 35,937,567 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Checking deposits $ 4,313,732 (4) $ 5,767 0.53 % $ 4,014,290 $ 4,768 0.47 % Money market deposits 8,198,133 (4) 13,772 0.67 % 7,997,648 11,828 0.59 % Savings deposits 2,472,207 (4) 1,906 0.31 % 2,423,312 1,810 0.30 % Time deposits 5,735,014 (4) 13,143 0.91 % 5,974,793 12,680 0.84 % Federal funds purchased and other short-term borrowings 16,070 126 3.11 % 29,661 212 2.84 % FHLB advances 323,598 2,013 2.47 % 322,973 1,947 2.39 % Repurchase agreements (2) 50,000 1,938 15.38 % 50,000 2,122 16.84 % Long-term debt 171,594 1,399 3.23 % 176,472 1,388 3.12 % Total interest-bearing liabilities 21,280,348 40,064 0.75 % 20,989,149 36,755 0.69 % Noninterest-bearing liabilities and stockholders’ equity: Demand deposits 11,531,181 (4) 10,655,860 Accrued expenses and other liabilities 594,287 536,351 Stockholders’ equity 3,856,802 3,756,207 Total liabilities and stockholders’ equity $ 37,262,618 $ 35,937,567 Interest rate spread 3.27 % 3.25 % Net interest income and net interest margin $ 319,701 3.57 % $ 303,155 3.52 % Adjusted net interest income and net interest margin (5) $ 312,677 3.49 % $ 298,621 3.46 % (1) Annualized. (2) Average balances of resale and repurchase agreements are reported net, pursuant to ASC 210-20-45, Balance Sheet Offsetting. (3) Includes loans HFS; ASC 310-30 discount of $37.7 million and $41.9 million for the quarters ended December 31, 2017 and September 30, 2017, respectively. (4) Includes deposits HFS. (5) See reconciliation of GAAP to non-GAAP financial measures in Table 15. EAST WEST BANCORP, INC. AND SUBSIDIARIES QUARTER-TO-DATE AVERAGE BALANCES, YIELDS AND RATES ($ in thousands) (unaudited) Table 7 Quarter Ended December 31, 2017 December 31, 2016 Average Average Average Average Balance Interest Yield/Rate (1) Balance Interest Yield/Rate (1) Assets Interest-earning assets: Interest-bearing cash and deposits with banks $ 2,743,548 $ 11,092 1.60 % $ 2,264,787 $ 4,486 0.79 % Resale agreements (2) 1,102,174 6,873 2.47 % 1,814,130 8,068 1.77 % Investment securities 2,925,817 14,734 2.00 % 3,551,863 15,966 1.79 % Loans (3) 28,646,461 326,401 4.52 % 25,033,196 272,188 4.33 % FHLB and FRB stock 73,424 665 3.59 % 72,693 1,419 7.77 % Total interest-earning assets 35,491,424 359,765 4.02 % 32,736,669 302,127 3.67 % Noninterest-earning assets: Cash and due from banks 417,798 410,919 Allowance for loan losses (285,490 ) (258,978 ) Other assets 1,638,886 1,790,527 Total assets $ 37,262,618 $ 34,679,137 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Checking deposits $ 4,313,732 (4) $ 5,767 0.53 % $ 3,641,320 $ 3,582 0.39 % Money market deposits 8,198,133 (4) 13,772 0.67 % 8,157,508 7,799 0.38 % Savings deposits 2,472,207 (4) 1,906 0.31 % 2,284,282 1,512 0.26 % Time deposits 5,735,014 (4) 13,143 0.91 % 5,584,838 10,623 0.76 % Federal funds purchased and other short-term borrowings 16,070 126 3.11 % 44,079 323 2.92 % FHLB advances 323,598 2,013 2.47 % 321,357 1,432 1.77 % Repurchase agreements (2) 50,000 1,938 15.38 % 297,826 2,863 3.82 % Long-term debt 171,594 1,399 3.23 % 191,232 1,291 2.69 % Total interest-bearing liabilities 21,280,348 40,064 0.75 % 20,522,442 29,425 0.57 % Noninterest-bearing liabilities and stockholders’ equity: Demand deposits 11,531,181 (4) 10,159,022 Accrued expenses and other liabilities 594,287 574,268 Stockholders’ equity 3,856,802 3,423,405 Total liabilities and stockholders’ equity $ 37,262,618 $ 34,679,137 Interest rate spread 3.27 % 3.10 % Net interest income and net interest margin $ 319,701 3.57 % $ 272,702 3.31 % Adjusted net interest income and net interest margin (5) $ 312,677 3.49 % $ 261,101 3.17 % (1) Annualized. (2) Average balances of resale and repurchase agreements are reported net, pursuant to ASC 210-20-45, Balance Sheet Offsetting. (3) Includes loans HFS; ASC 310-30 discount of $37.7 million and $54.7 million for the quarters ended December 31, 2017 and 2016, respectively. (4) Includes deposits HFS. (5) See reconciliation of GAAP to non-GAAP financial measures in Table 15. EAST WEST BANCORP, INC. AND SUBSIDIARIES YEAR-TO-DATE AVERAGE BALANCES, YIELDS AND RATES ($ in thousands) (unaudited) Table 8 Year Ended December 31, 2017 December 31, 2016 Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate Assets Interest-earning assets: Interest-bearing cash and deposits with banks $ 2,242,256 $ 33,390 1.49 % $ 1,893,064 $ 14,731 0.78 % Resale agreements (1) 1,438,767 32,095 2.23 % 1,708,470 30,547 1.79 % Investment securities 3,026,693 58,670 1.94 % 3,355,086 53,399 1.59 % Loans (2) 27,252,756 1,198,440 4.40 % 24,264,895 1,035,377 4.27 % FHLB and FRB stock 73,593 2,524 3.43 % 75,260 3,427 4.55 % Total interest-earning assets 34,034,065 1,325,119 3.89 % 31,296,775 1,137,481 3.63 % Noninterest-earning assets: Cash and due from banks 395,092 365,104 Allowance for loan losses (272,765 ) (262,804 ) Other assets 1,631,221 1,770,298 Total assets $ 35,787,613 $ 33,169,373 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Checking deposits $ 3,951,930 (3) $ 18,305 0.46 % $ 3,495,094 $ 12,640 0.36 % Money market deposits 8,026,347 (3) 44,181 0.55 % 7,679,695 27,094 0.35 % Savings deposits 2,369,398 (3) 6,431 0.27 % 2,104,060 4,719 0.22 % Time deposits 5,838,382 (3) 47,474 0.81 % 5,852,042 39,771 0.68 % Federal funds purchased and other short-term borrowings 34,546 1,003 2.90 % 25,591 713 2.79 % FHLB advances 391,480 7,751 1.98 % 380,868 5,585 1.47 % Repurchase agreements (1) 140,000 9,476 6.77 % 211,475 9,304 4.40 % Long-term debt 178,882 5,429 3.03 % 198,589 5,017 2.53 % Total interest-bearing liabilities 20,930,965 140,050 0.67 % 19,947,414 104,843 0.53 % Noninterest-bearing liabilities and stockholders’ equity: Demand deposits 10,627,718 (3) 9,371,481 Accrued expenses and other liabilities 541,717 544,549 Stockholders’ equity 3,687,213 3,305,929 Total liabilities and stockholders’ equity $ 35,787,613 $ 33,169,373 Interest rate spread 3.22 % 3.10 % Net interest income and net interest margin $ 1,185,069 3.48 % $ 1,032,638 3.30 % Adjusted net interest income and net interest margin (4) $ 1,164,017 3.42 % $ 987,214 3.15 % (1) Average balances of resale and repurchase agreements are reported net pursuant to ASC 210-20-45, Balance Sheet Offsetting. (2) Includes loans HFS; ASC 310-30 discount of $43.3 million and $64.3 million for the years ended December 31, 2017 and 2016, respectively. (3) Includes deposits HFS. (4) See reconciliation of GAAP to non-GAAP financial measures in Table 15. EAST WEST BANCORP, INC. AND SUBSIDIARIES SELECTED RATIOS (unaudited) Table 9 Quarter Ended (1) December 31, 2017 Basis Point Change December 31, 2017 September 30, 2017 December 31, 2016 Qtr-o-Qtr Yr-o-Yr Return on average assets 0.90 % 1.46 % 1.27 % (56 ) bps (37 ) bps Adjusted return on average assets (2) 1.35 % 1.44 % 1.27 % (9 ) 8 Return on average equity 8.73 % 14.01 % 12.87 % (528 ) (414 ) Adjusted return on average equity (2) 13.02 % 13.78 % 12.87 % (76 ) 15 Return on average tangible equity (2) 10.17 % 16.33 % 15.26 % (616 ) (509 ) Adjusted return on average tangible equity (2) 15.10 % 16.06 % 15.26 % (96 ) (16 ) Interest rate spread 3.27 % 3.25 % 3.10 % 2 17 Net interest margin 3.57 % 3.52 % 3.31 % 5 26 Adjusted net interest margin (2) 3.49 % 3.46 % 3.17 % 3 32 Average loan yield 4.52 % 4.42 % 4.33 % 10 19 Adjusted average loan yield (2) 4.42 % 4.35 % 4.13 % 7 29 Yield on average interest-earning assets 4.02 % 3.94 % 3.67 % 8 35 Cost of interest-bearing deposits 0.66 % 0.60 % 0.48 % 6 18 Cost of deposits 0.43 % 0.40 % 0.31 % 3 12 Cost of funds 0.48 % 0.46 % 0.38 % 2 10 Adjusted pre-tax, pre-provision profitability ratio (2) 2.27 % 2.32 % 2.10 % (5 ) 17 Adjusted noninterest expense/average assets (2) 1.62 % 1.53 % 1.59 % 9 3 Efficiency ratio 48.05 % 46.63 % 46.63 % 142 142 Adjusted efficiency ratio (2) 41.61 % 39.81 % 43.16 % 180 bps (155 ) bps Year Ended December 31, 2017 Basis Point Change December 31, 2017 December 31, 2016 Yr-o-Yr Return on average assets 1.41 % 1.30 % 11 bps Adjusted return on average assets (2) 1.41 % 1.30 % 11 Return on average equity 13.71 % 13.06 % 65 Adjusted return on average equity (2) 13.66 % 13.06 % 60 Return on average tangible equity (2) 16.03 % 15.62 % 41 Adjusted return on average tangible equity (2) 15.97 % 15.62 % 35 Interest rate spread 3.22 % 3.10 % 12 Net interest margin 3.48 % 3.30 % 18 Adjusted net interest margin (2) 3.42 % 3.15 % 27 Average loan yield 4.40 % 4.27 % 13 Adjusted average loan yield (2) 4.31 % 4.07 % 24 Yield on average interest-earning assets 3.89 % 3.63 % 26 Cost of interest-bearing deposits 0.58 % 0.44 % 14 Cost of deposits 0.38 % 0.30 % 8 Cost of funds 0.44 % 0.36 % 8 Adjusted pre-tax, pre-provision profitability ratio (2) 2.24 % 2.04 % 20 Adjusted noninterest expense/average assets (2) 1.58 % 1.62 % (4 ) Efficiency ratio 45.87 % 50.67 % (480 ) Adjusted efficiency ratio (2) 41.46 % 44.24 % (278 ) bps (1) Annualized except for efficiency ratio. (2) See reconciliation of GAAP to non-GAAP financial measures in Tables 13, 14, 15 and 16. EAST WEST BANCORP, INC. AND SUBSIDIARIES ALLOWANCE FOR CREDIT LOSSES ($ in thousands) (unaudited) Table 10 Quarter Ended Year Ended December 31, 2017 September 30, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Non-Purchased Credit Impaired (“Non-PCI”) Loans Allowance for non-PCI loans, beginning of period $ 285,858 $ 276,238 $ 255,656 $ 260,402 $ 264,600 Provision for loan losses on non-PCI loans 16,945 13,458 12,707 49,129 31,959 Net charge-offs: Commercial lending: C&I (15,909 ) (5,194 ) (9,584 ) (26,053 ) (39,286 ) CRE 570 549 697 2,111 1,025 Multifamily residential (607 ) 634 607 722 1,447 Construction and land 86 61 44 110 85 Consumer lending: Single-family residential 117 175 222 545 264 HELOCs — (55 ) 4 (31 ) 7 Other consumer 10 (8 ) 49 135 301 Total net charge-offs (15,733 ) (3,838 ) (7,961 ) (22,461 ) (36,157 ) Allowance for non-PCI loans, end of period 287,070 285,858 260,402 287,070 260,402 Purchased Credit Impaired (“PCI”) Loans Allowance for PCI loans, beginning of period 68 78 156 118 359 Reversal of loan losses on PCI loans (10 ) (10 ) (38 ) (60 ) (241 ) Allowance for PCI loans, end of period 58 68 118 58 118 Allowance for loan losses 287,128 285,926 260,520 287,128 260,520 Unfunded Credit Facilities Allowance for unfunded credit reserves, beginning of period 14,736 15,188 18,329 16,121 20,360 Reversal of unfunded credit reserves (1,418 ) (452 ) (2,208 ) (2,803 ) (4,239 ) Allowance for unfunded credit reserves, end of period 13,318 14,736 16,121 13,318 16,121 Allowance for credit losses $ 300,446 $ 300,662 $ 276,641 $ 300,446 $ 276,641 EAST WEST BANCORP, INC. AND SUBSIDIARIES CREDIT QUALITY ($ in thousands) (unaudited) Table 11 Non-PCI Nonperforming Assets December 31, 2017 September 30, 2017 December 31, 2016 Nonaccrual loans: Commercial lending: C&I $ 69,213 $ 73,384 $ 81,256 CRE 26,986 24,802 26,907 Multifamily residential 1,717 2,620 2,984 Construction and land 3,973 4,183 5,326 Consumer lending: Single-family residential 5,923 6,639 4,214 HELOCs 4,006 3,097 2,130 Other consumer 2,491 — — Total nonaccrual loans 114,309 114,725 122,817 Other real estate owned, net 830 2,289 6,745 Total nonperforming assets $ 115,139 $ 117,014 $ 129,562 Credit Quality Ratios December 31, 2017 September 30, 2017 December 31, 2016 Non-PCI nonperforming assets to total assets (1) 0.31 % 0.32 % 0.37 % Non-PCI nonaccrual loans to loans held-for-investment (1) 0.39 % 0.40 % 0.48 % Allowance for loan losses to loans held-for-investment (1) 0.99 % 1.00 % 1.02 % Allowance for loan losses to non-PCI nonaccrual loans 251.19 % 249.23 % 212.12 % Annualized quarterly net charge-offs to average loans held-for-investment 0.22 % 0.06 % 0.13 % Annual net charge-offs to average loans held-for-investment 0.08 % N/A 0.15 % N/A Not applicable (1) Total assets and loans held-for-investment include PCI loans of $482.3 million, $532.3 million and $642.4 million as of December 31, 2017, September 30, 2017 and December 31, 2016, respectively. EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Table 12 On December 22, 2017, the Tax Cuts and Jobs Act was enacted, which resulted in additional income tax expense recorded in the fourth quarter of 2017. The table below shows the computation of the Company’s effective tax rate excluding the impact of the Tax Cuts and Jobs Act. Management believes that excluding the impact of the Tax Cuts and Jobs Act from the effective tax rate computation allows comparability to prior periods. Quarter Ended December 31, 2017 September 30, 2017 December 31, 2016 Income tax expense (a) $ 89,229 $ 42,624 $ 50,403 Less: Impact of the Tax Cuts and Jobs Act (b) (41,689 ) — — Adjusted income tax expense (c) $ 47,540 $ 42,624 $ 50,403 Income before income taxes (d) 174,127 175,284 161,137 Effective tax rate (a)/(d) 51.2 % 24.3 % 31.3 % Less: Impact of the Tax Cuts and Jobs Act (b)/(d) (23.9 )% — % — % Adjusted effective tax rate (c)/(d) 27.3 % 24.3 % 31.3 % Year Ended December 31, 2017 December 31, 2016 Income tax expense (e) $ 229,476 $ 140,511 Less: Impact of the Tax Cuts and Jobs Act (f) (41,689 ) — Adjusted income tax expense (g) $ 187,787 $ 140,511 Income before income taxes (h) 735,100 572,188 Effective tax rate (e)/(h) 31.2 % 24.6 % Less: Impact of the Tax Cuts and Jobs Act (f)/(h) (5.7 )% — % Adjusted effective tax rate (g)/(h) 25.5 % 24.6 % EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ and shares in thousands, except for per share data) (unaudited) Table 13 As disclosed in the Company’s current report on Form 8-K filed on March 30, 2017, the Company consummated a sale and leaseback transaction on a commercial property and recognized a pre-tax gain on sale of $71.7 million during the first quarter of 2017. In the third quarter of 2017, the Company sold its insurance brokerage business, East West Insurance Services, Inc. (“EWIS”). On December 22, 2017, the Tax Cuts and Jobs Act was enacted, which resulted in an additional income tax expense of $41.7 million recognized in the fourth quarter of 2017. Management believes that presenting the computations of the adjusted diluted earnings per common share, return on average assets and return on average equity that exclude the impact of the Tax Cuts and Jobs Act and after-tax gains on sales of the commercial property and EWIS business (where applicable) provides clarity to financial statement users regarding the ongoing performance of the Company and allows comparability to prior periods. Quarter Ended December 31, 2017 September 30, 2017 December 31, 2016 Net income (a) $ 84,898 $ 132,660 $ 110,734 Add: Impact of the Tax Cuts and Jobs Act (b) 41,689 — — Less: Gain on sale of business, net of tax (1) (c) — (2,206 ) — Adjusted net income (d) $ 126,587 $ 130,454 $ 110,734 Diluted weighted average number of shares outstanding (e) 146,030 145,882 145,428 Diluted EPS (a)/(e) $ 0.58 $ 0.91 $ 0.76 Diluted EPS impact of the Tax Cuts and Jobs Act (b)/(e) 0.29 — — Diluted EPS impact of gain on sale of business, net of tax (c)/(e) — (0.02 ) — Adjusted diluted EPS $ 0.87 $ 0.89 $ 0.76 Average total assets (f) $ 37,262,618 $ 35,937,567 $ 34,679,137 Average stockholders’ equity (g) $ 3,856,802 $ 3,756,207 $ 3,423,405 Return on average assets (2) (a)/(f) 0.90 % 1.46 % 1.27 % Adjusted return on average assets (2) (d)/(f) 1.35 % 1.44 % 1.27 % Return on average equity (2) (a)/(g) 8.73 % 14.01 % 12.87 % Adjusted return on average equity (2) (d)/(g) 13.02 % 13.78 % 12.87 % Year Ended December 31, 2017 December 31, 2016 Net income (h) $ 505,624 $ 431,677 Add: Impact of the Tax Cuts and Jobs Act (i) 41,689 — Less: Gain on sale of the commercial property, net of tax (1) (j) (41,526 ) — Gain on sale of business, net of tax (1) (k) (2,206 ) — Adjusted net income (l) $ 503,581 $ 431,677 Diluted weighted average number of shares outstanding (m) 145,913 145,172 Diluted EPS (h)/(m) $ 3.47 $ 2.97 Diluted EPS impact of the Tax Cuts and Jobs Act (i)/(m) 0.29 — Diluted EPS impact of gain on sale of the commercial property, net of tax (j)/(m) (0.28 ) — Diluted EPS impact of gain on sale of business, net of tax (k)/(m) (0.02 ) — Adjusted diluted EPS $ 3.46 $ 2.97 Average total assets (n) $ 35,787,613 $ 33,169,373 Average stockholders’ equity (o) $ 3,687,213 $ 3,305,929 Return on average assets (h)/(n) 1.41 % 1.30 % Adjusted return on average assets (l)/(n) 1.41 % 1.30 % Return on average equity (h)/(o) 13.71 % 13.06 % Adjusted return on average equity (l)/(o) 13.66 % 13.06 % (1) Applied statutory tax rate of 42.05%. (2) Annualized. EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Table 14 Adjusted efficiency ratio represents adjusted noninterest expense divided by adjusted revenue. Adjusted pre-tax, pre-provision profitability ratio represents the aggregate of adjusted revenue less adjusted noninterest expense, divided by average total assets. Adjusted revenue represents the aggregate of net interest income and adjusted noninterest income, where adjusted noninterest income excludes the gains on sales of the commercial property and EWIS business (where applicable). Adjusted noninterest expense excludes the amortization of tax credit and other investments, the amortization of core deposit intangibles and the reversal of a legal accrual (where applicable). The Company believes that the ratios presented below provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods. Quarter Ended December 31, 2017 September 30, 2017 December 31, 2016 Net interest income before provision for credit losses (a) $ 319,701 $ 303,155 $ 272,702 Total noninterest income 45,359 49,624 48,800 Total revenue (b) 365,060 352,779 321,502 Noninterest income 45,359 49,624 48,800 Less: Gain on sale of business — (3,807 ) — Adjusted noninterest income (c) $ 45,359 $ 45,817 $ 48,800 Adjusted revenue (a)+(c) = (d) $ 365,060 $ 348,972 $ 321,502 Total noninterest expense (e) $ 175,416 $ 164,499 $ 149,904 Less: Amortization of tax credit and other investments (21,891 ) (23,827 ) (22,667 ) Amortization of core deposit intangibles (1,621 ) (1,735 ) (1,909 ) Legal accrual reversal — — 13,417 Adjusted noninterest expense (f) $ 151,904 $ 138,937 $ 138,745 Efficiency ratio (e)/(b) 48.05 % 46.63 % 46.63 % Adjusted efficiency ratio (f)/(d) 41.61 % 39.81 % 43.16 % Adjusted pre-tax, pre-provision income (d)-(f) = (g) $ 213,156 $ 210,035 $ 182,757 Average total assets (h) $ 37,262,618 $ 35,937,567 $ 34,679,137 Adjusted pre-tax, pre-provision profitability ratio (1) (g)/(h) 2.27 % 2.32 % 2.10 % Adjusted noninterest expense (1) /average assets (f)/(h) 1.62 % 1.53 % 1.59 % Year Ended December 31, 2017 December 31, 2016 Net interest income before provision for credit losses (i) $ 1,185,069 $ 1,032,638 Total noninterest income 258,406 182,918 Total revenue (j) 1,443,475 1,215,556 Noninterest income 258,406 182,918 Less: Gain on sale of the commercial property (71,654 ) — Gain on sale of business (3,807 ) — Adjusted noninterest income (k) $ 182,945 $ 182,918 Adjusted revenue (i)+(k) = (l) $ 1,368,014 $ 1,215,556 Total noninterest expense (m) $ 662,109 $ 615,889 Less: Amortization of tax credit and other investments (87,950 ) (83,446 ) Amortization of core deposit intangibles (6,935 ) (8,086 ) Legal accrual reversal — 13,417 Adjusted noninterest expense (n) $ 567,224 $ 537,774 Efficiency ratio (m)/(j) 45.87 % 50.67 % Adjusted efficiency ratio (n)/(l) 41.46 % 44.24 % Adjusted pre-tax, pre-provision income (l)-(n) = (o) $ 800,790 $ 677,782 Average total assets (p) $ 35,787,613 $ 33,169,373 Adjusted pre-tax, pre-provision profitability ratio (o)/(p) 2.24 % 2.04 % Adjusted noninterest expense/average assets (n)/(p) 1.58 % 1.62 % (1) Annualized. EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Table 15 The Company believes that presenting the adjusted average loan yield and adjusted net interest margin that exclude the ASC 310-30 discount accretion impact provides clarity to financial statement users regarding the change in loan contractual yields and allows comparability to prior periods. Quarter Ended Year Ended Yield on Average Loans December 31, 2017 September 30, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Interest income on loans (a) $ 326,401 $ 306,939 $ 272,188 $ 1,198,440 $ 1,035,377 Less: ASC 310-30 discount accretion income (7,024 ) (4,534 ) (11,601 ) (21,052 ) (45,424 ) Adjusted interest income on loans (b) $ 319,377 $ 302,405 $ 260,587 $ 1,177,388 $ 989,953 Average loans (c) $ 28,646,461 $ 27,529,779 $ 25,033,196 $ 27,252,756 $ 24,264,895 Add: ASC 310-30 discount 37,660 41,875 54,664 43,341 64,324 Adjusted average loans (d) $ 28,684,121 $ 27,571,654 $ 25,087,860 $ 27,296,097 $ 24,329,219 Average loan yield (a)/(c) 4.52 % (1) 4.42 % (1) 4.33 % (1) 4.40 % 4.27 % Adjusted average loan yield (b)/(d) 4.42 % (1) 4.35 % (1) 4.13 % (1) 4.31 % 4.07 % Net Interest Margin Net interest income (e) $ 319,701 $ 303,155 $ 272,702 $ 1,185,069 $ 1,032,638 Less: ASC 310-30 discount accretion income (7,024 ) (4,534 ) (11,601 ) (21,052 ) (45,424 ) Adjusted net interest income (f) $ 312,677 $ 298,621 $ 261,101 $ 1,164,017 $ 987,214 Average interest-earning assets (g) $ 35,491,424 $ 34,208,533 $ 32,736,669 $ 34,034,065 $ 31,296,775 Add: ASC 310-30 discount 37,660 41,875 54,664 43,341 64,324 Adjusted average interest-earning assets (h) $ 35,529,084 $ 34,250,408 $ 32,791,333 $ 34,077,406 $ 31,361,099 Net interest margin (e)/(g) 3.57 % (1) 3.52 % (1) 3.31 % (1) 3.48 % 3.30 % Adjusted net interest margin (f)/(h) 3.49 % (1) 3.46 % (1) 3.17 % (1) 3.42 % 3.15 % (1) Annualized. EAST WEST BANCORP, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION ($ in thousands) (unaudited) Table 16 The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. Tangible equity and tangible equity to tangible assets ratio are non-GAAP financial measures. Tangible equity and tangible assets represent stockholders’ equity and total assets, respectively, which have been reduced by goodwill and other intangible assets. Given that the use of such measures and ratios are more prevalent in the banking industry, and such measures are used by banking regulators and analysts, the Company has included them for discussion. December 31, 2017 September 30, 2017 December 31, 2016 Stockholders’ equity $ 3,841,951 $ 3,781,896 $ 3,427,741 Less: Goodwill (469,433 ) (469,433 ) (469,433 ) Other intangible assets (1) (28,825 ) (30,245 ) (35,670 ) Tangible equity (a) $ 3,343,693 $ 3,282,218 $ 2,922,638 Total assets $ 37,150,249 $ 36,307,966 $ 34,788,840 Less: Goodwill (469,433 ) (469,433 ) (469,433 ) Other intangible assets (1) (28,825 ) (30,245 ) (35,670 ) Tangible assets (b) $ 36,651,991 $ 35,808,288 $ 34,283,737 Tangible equity to tangible assets ratio (a)/(b) 9.12 % 9.17 % 8.52 % Adjusted return on average tangible equity represents adjusted tangible net income divided by average tangible equity. Adjusted tangible net income excludes the after-tax effects of the amortization of core deposit intangibles and mortgage servicing assets, the after-tax gains on sales of the commercial property and EWIS business (where applicable), and the impact of the Tax Cuts and Jobs Act. Given that the use of such measures and ratios are more prevalent in the banking industry, and such measures are used by banking regulators and analysts, the Company has included them for discussion. Quarter Ended December 31, 2017 September 30, 2017 December 31, 2016 Net Income $ 84,898 $ 132,660 $ 110,734 Add: Amortization of core deposit intangibles, net of tax (2) 939 1,006 1,106 Amortization of mortgage servicing assets, net of tax (2) 254 307 106 Tangible net income (c) $ 86,091 $ 133,973 $ 111,946 Add: Impact of the Tax Cuts and Jobs Act 41,689 — — Less: Gain on sale of business, net of tax (2) — (2,206 ) — Adjusted tangible net income (d) $ 127,780 $ 131,767 $ 111,946 Average stockholders’ equity $ 3,856,802 $ 3,756,207 $ 3,423,405 Less: Average goodwill (469,433 ) (469,433 ) (469,433 ) Average other intangible assets (1) (29,527 ) (31,408 ) (36,354 ) Average tangible equity (e) $ 3,357,842 $ 3,255,366 $ 2,917,618 Return on average tangible equity (3) (c)/(e) 10.17 % 16.33 % 15.26 % Adjusted return on average tangible equity (3) (d)/(e) 15.10 % 16.06 % 15.26 % Year Ended December 31, 2017 December 31, 2016 Net Income $ 505,624 $ 431,677 Add: Amortization of core deposit intangibles, net of tax (2) 4,019 4,686 Amortization of mortgage servicing assets, net of tax (2) 1,068 718 Tangible net income (f) $ 510,711 $ 437,081 Add: Impact of the Tax Cuts and Jobs Act 41,689 — Less: Gain on sale of the commercial property, net of tax (2) (41,526 ) — Gain on sale of business, net of tax (2) (2,206 ) — Adjusted tangible net income (g) $ 508,668 $ 437,081 Average stockholders’ equity $ 3,687,213 $ 3,305,929 Less: Average goodwill (469,433 ) (469,433 ) Average other intangible assets (1) (32,238 ) (38,386 ) Average tangible equity (h) $ 3,185,542 $ 2,798,110 Return on average tangible equity (f)/(h) 16.03 % 15.62 % Adjusted return on average tangible equity (g)/(h) 15.97 % 15.62 % (1) Includes core deposit intangibles and mortgage servicing assets. (2) Applied statutory tax rate of 42.05%. (3) Annualized. View source version on businesswire.com: http://www.businesswire.com/news/home/20180125005454/en/ For Investor Inquiries: East West Bancorp, Inc. Irene Oh Chief Financial Officer T: (626) 768-6360 E: irene.oh@eastwestbank.com or Julianna Balicka Director of Strategy and Corporate Development T: (626) 768-6985 E: julianna.balicka@eastwestbank.com Source: East West Bancorp, Inc.

http://www.cnbc.com/2018/01/25/business-wire-east-west-bancorp-reports-record-net-income-for-full-year-2017-of-505-point-6-million-and-diluted-earnings-per-share-of-3.html

Grammy Awards TV audience plunges, political digs a turn-off for some

January 29, 2018 / 4:59 PM / Updated 9 minutes ago Grammy Awards TV audience plunges, political digs a turn-off for some Reuters Staff 2 Min Read LOS ANGELES (Reuters) - The U.S. television audience for Sunday’s Grammy Awards on CBS Corp. fell by more than six million viewers, CBS said on Monday, after a show criticized for political jibes and wins for Bruno Mars at the expense of innovative rapper Kendrick Lamar. Citing Nielsen data, CBS said 19.8 million Americans tuned in for the three and a half hour broadcast, from 2017 when 26.1 million people watched on television. The lowest audience for any Grammy Awards show was in 2006, which drew an audience of 17 million. Sunday’s 60th anniversary Grammy Awards, staged in New York over three and a half hours, saw R&B singer Mars win the top three prizes - album, record and song of the year - and three other statuettes. Lamar won five and veteran rapper Jay-Z, who had gone into the show with eight nominations, won nothing. The show got generally poor reviews. USA Today called the Grammy Awards an “out of touch embarrassment” while host James Corden was criticized on social media for lame jokes and a lacklustre performance. Slideshow (3 Images) Some of music’s biggest stars, including Taylor Swift, Ed Sheeran and Beyonce were either not nominated or did not perform, and some of the digs at U.S. President Donald Trump and his policies appeared to have turned some viewers off. One of the most talked-about moments came towards the end of the broadcast when former Democratic presidential candidate Hillary Clinton, along with musicians Cher, Cardi B. and Snoop Dogg read excerpts from “Fire and Fury,” Michael Wolff’s scathing book about Trump’s first year in office. Commenting on the ratings on Hollywood website Deadlione.com, Lars Johnson said he was not surprised at the fall. “People listen to music to relax. The political ranting and raving made it a good night to watch something else ... which it seems many people did.” Reporting by Jill Serjeant; Editing by Andrew Hay and Susan Thomas

https://uk.reuters.com/article/uk-awards-grammys-ratings/grammy-awards-tv-audience-falls-sharply-to-17-6-million-viewers-idUKKBN1FI25P

CSI Reports Growth in Revenues for Third Quarter

Revenues Increase 0.8% to $61 Million PADUCAH, Ky.--(BUSINESS WIRE)-- Computer Services, Inc. (CSI) (OTCQX: CSVI) today reported its results for the third quarter ended November 30, 2017. CSI’s revenues rose 0.8% to $61.0 million for the third quarter of fiscal 2018 compared with $60.5 million for the third quarter of fiscal 2017. The results for the third quarter of 2018 included approximately $809,000 in early contract termination fees compared with $1.3 million in the third quarter of fiscal 2017. Excluding the effect of early contract termination fees from both periods, net revenues increased approximately 1.8% compared with the third quarter of fiscal 2017. Early contract termination fees are generated when a customer terminates its contract prior to the end of the contracted term, a circumstance that typically arises when an existing CSI customer is acquired by another financial institution that is not a CSI customer. These fees can vary significantly from period to period based on the number and size of customers that are acquired and how early in the contract term a customer is acquired. Third quarter net income declined 7.1% to $7.7 million compared with $8.3 million for the third quarter of fiscal 2017. Net income per share declined 6.8% to $0.55 compared with $0.59 for the third quarter of fiscal 2017. Excluding the effect of early contract termination fees from both third quarter periods, net income declined approximately 3.4% compared with the third quarter of fiscal 2017. The decline in third quarter net income was due primarily to operating expense growth outpacing revenue for the quarter, including higher personnel, equipment, travel and professional fees. “CSI remains on track to report higher revenues and net income for fiscal 2018 compared with fiscal 2017,” stated Steven A. Powless, Chairman and CEO of CSI. “For the first nine months of fiscal 2018, revenues were up 7.1% to $186.9 million and net income was up 8.6% to $25.3 million compared with the same period in the prior fiscal year. We continue to benefit from high renewal rates on contracts and the high percentage of recurring revenues from long-term customer contracts. We also expect the newly enacted reduction in the federal income tax rate to reduce CSI’s tax expense in the fourth quarter.” Third Quarter Results Consolidated revenues increased 0.8% to $61.0 million in the third quarter of fiscal 2018 compared with $60.5 million in the third quarter of fiscal 2017. The growth in revenues benefited from higher sales of core processing, digital banking, regulatory compliance services and managed services. Revenues included approximately $809,000 in early contract termination fees in the third quarter of fiscal 2018 compared with $1.3 million in the third quarter of fiscal 2017. Excluding the effect of the early contract termination fees from both periods, third quarter fiscal 2018 revenues increased approximately 1.8% compared with the third quarter of last fiscal year. “We anticipate revenue growth to be suppressed in the fourth quarter due to expected lower early contract termination fees in the fourth quarter compared with last fiscal year. We also believe the effects of the reduction in the federal income tax rate and other tax offsets that are expected to be booked at fiscal year-end 2018 will more than offset the earnings impact from lower early contraction termination fees,” continued Powless. Operating income declined 5.6% to $12.7 million for the third quarter of fiscal 2018 compared with $13.5 million for the third quarter of fiscal 2017. Operating margin was 20.9% in the third quarter of fiscal 2018 compared with 22.3% for the third quarter of fiscal 2017. Net income for the third quarter of fiscal 2018 declined 7.1% to $7.7 million compared with $8.3 million for the third quarter of fiscal 2017. Net income per share declined 6.8% to $0.55 for the third quarter of fiscal 2018 on 13.96 million weighted average shares outstanding compared with $0.59 for the third quarter of fiscal 2017 on 14.02 million weighted average shares outstanding. “CSI’s financial position remained strong with $43.6 million in cash and no long-term debt at the end of the third fiscal quarter. We returned $14.0 million to shareholders in cash dividends and repurchases of common stock during the first nine months of fiscal 2018. We also invested $17.6 million in hardware and software during the first nine months of fiscal 2018, up 61.0% from $10.9 million for the same period last fiscal year. We believe our investments in new hardware, software and product development will contribute to CSI’s growth in the coming years,” concluded Powless. Nine Months Results Consolidated revenues for the first nine months of fiscal 2018 rose 7.1% to $186.9 million compared with $174.6 million for the first nine months of fiscal 2017. CSI’s increase in revenues benefited from growth across all major product lines compared with the first nine months of fiscal 2017. Fiscal year-to-date revenues also included $7.0 million in early contract termination fees compared with $2.3 million in the first nine months of fiscal 2017. Excluding the effect of the early contract termination fees from both periods, fiscal year-to-date revenues increased approximately 4.5% compared with the first nine months of fiscal year 2017. Operating income rose 10.1% to $41.4 million for the first nine months of fiscal 2018 compared with $37.6 million for the first nine months of fiscal 2017. Operating margin rose to 22.2% in the first nine months of fiscal 2018 compared with 21.6% in the first nine months of fiscal 2017. CSI’s cash flow from operations declined 8.5% to $40.8 million for the first nine months of fiscal 2018 compared with $44.6 million in the first nine months of fiscal 2017. Cash and cash equivalents increased 13.5% to $43.6 million as of November 30, 2017, from $38.4 million as of November 30, 2016. Net income for the first nine months of fiscal 2018 increased by 8.6% to $25.3 million compared with $23.3 million in the first nine months of fiscal 2017. Net income per share rose 9.0% to $1.81 per share for the first nine months of fiscal 2018 compared with $1.66 for the first nine months of fiscal 2017. Excluding the effect of early contract termination fees from both periods, net income per share declined approximately 3.0% compared with the first nine months of fiscal 2017. About Computer Services, Inc. Computer Services, Inc. delivers core processing, managed services, digital banking, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation, and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. CSVI meets the financial media’s “Dividend Aristocrats” criterion of having 25+ years of consecutive annual dividend increases. For more in

http://www.cnbc.com/2018/01/08/business-wire-csi-reports-growth-in-revenues-for-third-quarter.html

Schneider Electric says software bug exploited in watershed hack

January 18, 2018 / 3:15 PM / Updated 16 minutes ago Schneider Electric says bug in its technology exploited in hack Jim Finkle 3 Min Read MIAMI BEACH, Fla. (Reuters) - Schneider Electric SE said on Thursday that hackers had exploited a flaw in its technology in a watershed incident discovered last month that halted operations at an undisclosed industrial facility. News of the breach surfaced on Dec. 14, when cyber security firms disclosed that hackers, likely working for a nation state, had invaded one of Schneider’s Triconex safety systems. Neither Schneider nor cyber experts have identified the target. Schneider initially told customers it believed the hack did not exploit a bug in the Triconex system. The system is used in nuclear facilities, oil and gas plants, mining, water treatment facilities and other plants to safely shut down industrial processes when hazardous conditions are detected. It is the first reported cyber attack on this type of system. While the target’s identity is unknown, one cyber security firm, Dragos, has said it occurred in the Middle East. Others have speculated it was in Saudi Arabia. Cyber experts have called it a watershed incident because it demonstrates how hackers might cause physical damage to a plant, or even kill people, by sabotaging safety systems before attacking industrial plants. France-based Schneider said in a customer advisory released on Thursday that hackers had exploited a previously unknown vulnerability in an older version of the Triconex firmware that allowed attackers to install a remote-access Trojan as “part of a complex malware infection scenario.” The advisory urged customers to follow previously recommended protocols for securing Triconex systems, which it said would have blocked the attack. The malware is capable of scanning and mapping an industrial network to provide reconnaissance and can also give hackers remote control over those systems, the advisory says. Schneider said it was developing tools to identify and remove the malware, which are expected to be released in February. The U.S. Department of Homeland Security is also investigating the attack, according to Schneider. A DHS spokesman could not immediately be reached for comment. Schneider’s Triconex technology is used globally. DHS helps investigate attacks and vulnerabilities that have the potential to impact critical infrastructure, businesses and consumers in the United States. The company plans to release a software update to fix the security bug, Schneider’s global cyber security architect, Paul Forney, said in an interview on the sidelines of the S4 security conference in Miami Beach, Florida. He declined to say when it would be available. One of Schneider’s rivals, ABB Ltd, last month urged its customers to look out for attacks, saying hackers might use similar approaches to target any type of safety system. Editing by Andrea Ricci, Bernadette Baum and Leslie Adler

https://www.reuters.com/article/us-schneider-cyber-attack/schneider-electric-says-software-bug-exploited-in-watershed-hack-idUSKBN1F7228

Western Alliance Bancorporation Announces Fourth Quarter 2017 Earnings Release Date, Conference Call and Webcast

PHOENIX--(BUSINESS WIRE)-- Western Alliance Bancorporation (NYSE: WAL) announced today that it plans to release its fourth quarter 2017 financial results after the market closes on Thursday, January 25, 2018. Robert Sarver, Chairman and CEO, Ken Vecchione, President, and Dale Gibbons, CFO, will host a conference call at 12:00 p.m. ET on Friday, January 26, 2018 to discuss the Company’s performance. Participants may access the call by dialing 1-888-317-6003 using the pass code 0958016 or via live audio webcast using the website link: https://services.choruscall.com/links/wal180126.html The webcast is also available through the Company’s website at www.westernalliancebancorporation.com . Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay January 26 th after 2:00 p.m. ET until February 26 th at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10115798. About Western Alliance Bancorporation With more than $19 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies and is ranked #4 on the Forbes 2017 “Best Banks in America” list. Its primary subsidiary, Western Alliance Bank, is the go-to bank for business and succeeds with local teams of experienced bankers who deliver superior service and a full spectrum of deposit, lending, treasury management, international banking and online banking products and services. Western Alliance Bank operates full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. The bank also serves business customers through a robust national platform of specialized financial services including Corporate Finance, Equity Fund Resources, Hotel Franchise Finance, Life Sciences Group, Mortgage Warehouse Lending, Public and Nonprofit Finance, Renewable Resource Group, Resort Finance, Technology Finance and Alliance Association Bank. For more information, visit westernalliancebancorporation.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180109006835/en/ Western Alliance Bancorporation Media: Robyn Young, 602-346-7352 or Investors: Dale Gibbons, 602-952-5476 Source: Western Alliance Bancorporation

http://www.cnbc.com/2018/01/09/business-wire-western-alliance-bancorporation-announces-fourth-quarter-2017-earnings-release-date-conference-call-and-webcast.html

PG&E Corporation Schedules Fourth Quarter 2017 Earnings Release and Conference Call

SAN FRANCISCO, Jan. 10, 2018 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) will hold a conference call for members of the financial community on February 9, 2018, at 11:00 a.m. Eastern Time to discuss its fourth quarter 2017 results. The public can access the conference call via a simultaneous webcast. The link is provided below and will also be available from the PG&E Corporation website. What: Fourth Quarter 2017 Earnings Call When: Friday, February 9, 2018 at 11:00 a.m. Eastern Time Where: http://investor.pgecorp.com/news-events/events-and-presentations/default.aspx How: Live over the Internet – log on to the web at the address above If you are unable to participate during the live webcast, the call will be archived at http://investor.pgecorp.com/news-events/events-and-presentations/default.aspx . Alternatively, a toll-free replay of the conference call may be accessed shortly after the live call through February 23, 2018, by dialing (866) 415-9493. International callers may dial (205) 289-3247. For both domestic and international callers, the confirmation code 3265# will be required to access the replay. Please contact Investor Relations at (415) 972-7080 if you have any questions. PG&E Corporation (NYSE: PCG) is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California's largest investor-owned utility. PG&E serves about 16 million Californians across a 70,000 square-mile service area in Northern and Central California. For more information, visit the Web site at http://www.pgecorp.com . View original content: http://www.prnewswire.com/news-releases/pge-corporation-schedules-fourth-quarter-2017-earnings-release-and-conference-call-300580863.html SOURCE PG&E Corporation

http://www.cnbc.com/2018/01/10/pr-newswire-pge-corporation-schedules-fourth-quarter-2017-earnings-release-and-conference-call.html

Russia's World Cup likely target for Islamic State - U.S. analysis firm

January 18, 2018 / 12:18 AM / Updated 5 hours ago Russia's World Cup likely target for Islamic State - U.S. analysis firm Reuters Staff 2 Min Read BAGHDAD (Reuters) - The World Cup soccer tournament to be held in Russia in June and July will be an “attractive target” for Islamic State given Russia’s role in the territorial defeat of the militant group, the U.K.-based analysis firm, IHS, said on Thursday. “A successful attack (in Russia) would provide a tremendous propaganda boost for the Islamic State and its fighters and supporters, underlining the ongoing international threat posed by the group despite its territorial defeat,” an IHS report said. The participation of the national teams of Saudi Arabia and Iran in the tournament provided an even greater incentive for the group to target it, the report said. Despite losing all territory in Iraq and Syria by November last year, the group claimed major attacks in Istanbul, London, Manchester, Barcelona and Tehran, killing dozens of civilians. It targeted the Muslim holy city of Medina, in Saudi Arabia, in 2016. Islamic State leader Abu Bakr al-Baghdadi is still on the run despite the collapse last year of the caliphate he declared in 2014 over parts of Syria and Iraq. Attacks claimed by Islamic State rose slightly in 2017, to more than 4,500, despite its territorial losses, but fatalities from the attacks dropped by two-fifths compared with 2016 to about 6,500, the IHS said. “As it came under growing territorial pressure, Islamic State transitioned back to insurgent operations, conducting a higher tempo of low intensity violence against security forces and non-state adversaries in areas newly recaptured from the group” in Iraq and Syria, said Matthew Henman, head of IHS Jane’s Terrorism and Insurgency Center, in the report. Reporting by Ahmed Rasheed; Editing by Richard Balmforth

https://uk.reuters.com/article/uk-mideast-crisis-iraq-islamicstate/russias-world-cup-likely-target-for-islamic-state-u-s-analysis-firm-idUKKBN1F701P

Markets on launch pad after 'Rocket Man' boost

Markets on launch pad after 'Rocket Man' boost 8:04am EST - 01:29 European markets start the first trading day of the year on a nervous footing despite record manufacturing surveys for the euro zone. But as Ivor Bennett reports, Asian shares scaled a decade peak after a surprisingly upbeat survey of Chinese manufacturing and signs of a thaw in Korean relations. European markets start the first trading day of the year on a nervous footing despite record manufacturing surveys for the euro zone. But as Ivor Bennett reports, Asian shares scaled a decade peak after a surprisingly upbeat survey of Chinese manufacturing and signs of a thaw in Korean relations. //reut.rs/2A6S6e8

https://www.reuters.com/video/2018/01/02/markets-on-launch-pad-after-rocket-man-b?videoId=377759518

T-Mobile commits to 100 percent renewable electricity

T-Mobile will move to 100 percent renewable electricity by the year 2021. The telecoms company said Monday that it had also finalized a contract for wind power from the Solomon Forks Wind Project in Kansas. Power generation there is due to begin at the beginning of 2019, and will supplement the energy T-Mobile receives from the Red Forks Wind Power Project in Oklahoma. John Legere, T-Mobile's president and CEO, said moving to renewable energy was the right thing to do and smart business. "We expect to cut T-Mobile's energy costs by around $100 million in the next 15 years thanks to this move," he added. T-Mobile has also joined the RE100, a group of global businesses committed to renewable power. Other members of the RE100 include Apple , Facebook and Google. The RE100's head, Sam Kimmins, welcomed the news that T-Mobile was joining the initiative. "It's great to see T-Mobile U.S. shifting to renewables for its power consumption," he said. "As a large electricity consumer in the U.S., they can truly transform energy systems by bringing significant renewable capacity online — all of that while delivering real value to their customers."

https://www.cnbc.com/2018/01/29/t-mobile-commits-to-100-percent-renewable-electricity.html

'Shark Tank': Corcoran invests $300,000 in The Dough Bar doughnuts

While exercising at the gym with his wife Ondrea , Marquez Fernandez found himself scrolling through his phone, looking at pictures of food. The couple was struck with inspiration to take something generally laden with fat and sugar — a doughnut — and try to recreate it as a health food. "A light bulb just went off, 'Hey what if we make healthy doughnuts?" Marquez says on ABC's "Shark Tank." "The next day we went out and bought all this stuff, and we were acting like mad scientists making doughnuts." That idea led to over $1.2 million worth sales for their business, The Dough Bar, which ships baked doughnuts with 11 grams of protein in flavors like "cookie monster" and "apple pie" directly to consumers. Ondrea and Marquez Fernandez came on "Shark Tank" seeking $300,000 for a 15 percent stake in their business. To help demonstrate their product, they brought along professional body builder Daniel Zigler, a spokesman for the product. The business launched in April of 2015 , and has since sold over 280,000 doughnuts, Marquez says on the show. The doughnuts are packaged and sent plain, and customers can frost and decorate the snack themselves. A plain doughnut is 150 calories , and with toppings, it is about 200 calories. "Our average price for one box of four [doughnuts] is $15.50," Ondrea says on the show. "The box actually costs us about $7.30, we make about a 53 percent margin right now." For Marquez, who left a job as a nurse and respiratory therapist for the family upstart, The Dough Bar is a way to build something to support his family, and set an example for his young son Mason. It was a mindset he learned from his own father. "I grew up in a pretty rough neighborhood, my father was a single parent and worked really hard to just really grind and put food on the table for us," Marquez says. "I've always known that I wanted to be an entrepreneur and take care of my family." So far, the dedication to the business has paid off: The Dough Bar has a 31 percent customer return rate, he explains on the show. And Marquez's father is a full-time employee. "The fact that you have a 30 percent re-order rate, that is phenomenal in the online food business," investor Barbara Corcoran says. "It means that people really like it." That number, along with the entrepreneurs themselves, was enough to convince her to make an offer to invest $300,000 for a 30 percent stake in the company. "I love the fact that you bootstrapped your business," Corcoran says. "We don't hear it enough anymore. You have such a happy relationship, it is bouncing off your skin. Happy partners make money together." The Fernandez family's story also resonated with guest shark and former MLB baseball player Alex Rodriguez. "I love to do business with people who have a 'PhD,'" Rodriguez says. "I don't mean from Harvard or Yale, I mean poor, hungry and driven. And both of you have that." Tweet Tweet Rodriguez made an offer together with investor Lori Greiner to invest a combined $400,000 for 30 percent of the business, but Corcoran was quick to negotiate. She outbid Greiner and Rodriguez, agreeing to drop the amount of equity she would take and invest $300,000 for a 20 percent stake in the business. "Happy to do it," Corcoran says on the show. Tweet "This means the world," Marquez says about the investment. "We started the business really about family, and I think about my father ... we're excited to get this thing going." Don't miss: Daymond John broke his 'Red Lobster' rule to do these 'Shark Tank' deals—now they're his top 2 companies, making millions show chapters How to get on 'Shark Tank,' according to those who have been there 12:50 PM ET Fri, 17 March 2017 | 00:50 Like this story? Like CNBC Make It on Facebook ! Disclaimer: CNBC owns the exclusive off-network cable rights to "Shark Tank."

https://www.cnbc.com/2018/01/29/shark-tank-corcoran-invests-300000-in-the-dough-bar-doughnuts.html

Reinsurance Group of America Announces Fourth-Quarter Earnings Release Date, Webcast

ST. LOUIS--(BUSINESS WIRE)-- Reinsurance Group of America, Incorporated (NYSE:RGA) plans to release fourth-quarter earnings on Monday, January 29, at approximately 4:15 p.m. Eastern Time. The release will be issued via newswire and will also be available through RGA’s website, www.rgare.com . RGA will host a conference call to discuss the fourth-quarter results beginning at 11 a.m. Eastern Time on Tuesday, January 30. Interested parties may access the call by dialing 1-877-604-9674 (719-325-4917 international). The access code is 4138948. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. A live audio webcast of that conference call will be available on RGA’s website, www.rgare.com . Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.3 trillion of life reinsurance in force and assets of $58.7 billion as of September 30, 2017. Founded in 1973, RGA today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri, and operations in 26 countries, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about RGA and its businesses, visit the company’s website at www.rgare.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180102005531/en/ Reinsurance Group of America, Incorporated Jeff Hopson, 636-736-7000 Senior Vice President, Investor Relations Source: Reinsurance Group of America, Incorporated

http://www.cnbc.com/2018/01/02/business-wire-reinsurance-group-of-america-announces-fourth-quarter-earnings-release-date-webcast.html

Hungary outlines 'Stop Soros' legislation against immigration

BUDAPEST (Reuters) - Hungary’s nationalist government outlined legislation on Wednesday to tackle illegal immigration that it says is undermining European stability and has been stoked in part by U.S. financier George Soros. Right-wing Prime Minister Viktor Orban is embroiled in an escalating feud with Soros, who has rejected an extended Hungarian government campaign against him as “distortions and lies” meant to create a false external enemy. Orban is expected to secure a third straight term in a general election due on April 8. The legislative package, dubbed “Stop Soros” by government spokesman Zoltan Kovacs, includes mandatory registration of some non-government organizations that “support illegal immigration”, according to an emailed government position paper. Kovacs told a news conference that a 25 percent tax would be imposed on foreign donations that such NGOs collect, and activists could face restraining orders that preclude them from approaching the EU’s external borders in Hungary. Those borders have been fortified since a migrant influx in 2015. Kovacs added that third-country nationals could also be subject to a restraining order anywhere in the country. Details were not immediately clear as the bills will only be published and submitted for public debate on Thursday. But pro-government media reported that the bills could lead to a ban on Soros, who has U.S. and Hungarian citizenship, entering the country. Soros, 87, is a Hungarian-born Jew whose longtime support for liberal and open-border values in eastern Europe have put him at odds with right-wing nationalists, especially in Hungary. Orban’s government said in its position paper that it opposed migration through “every means possible.” “Illegal mass immigration is a problem that affects Europe as a whole, posing serious security risks,” it said. Asked about implications for Soros himself, Kovacs said: “If Soros is found to have engaged in such activity, meaning he organizes illegal immigration, then the rules will apply to him.” An aide for Kovacs declined to elaborate. Last year, the Orban government introduced a measure requiring NGOs that get money from abroad to register with the state, raising alarm in the European Union and United States. The European Commission said late last year it was taking Budapest to the EU’s top court over its NGO laws as well as a higher education law that targets Central European University in Budapest founded by Soros. Orban is locked in a series of running battles with the EU, where Western member states and the Brussels-based executive Commission decry what they see as his authoritarian leanings, the squeezing of the opposition and the free media. Reporting by Marton Dunai; editing by Mark Heinrich

https://www.reuters.com/article/us-hungary-soros/hungary-outlines-stop-soros-legislation-against-immigration-idUSKBN1F62AE

Novartis sees Entresto sales peak between $4 bln and $5 bln

ZURICH, Jan 24 (Reuters) - A senior Novartis executive “sees a path” for the Swiss drugmaker’s slow-starting heart failure medicine Entresto reaching between $4 billion and $5 billion in peak annual revenue after it finally hit the company’s internal 2017 target. Entresto, introduced in 2015, brought in $507 million in revenue last year, just surpassing Novartis’s target of a half a billion dollars. That was better than some analysts had predicted before the company announced full-year results. “I can definitely see a path to between $4 billion and $5 billion combined,” Paul Hudson, the Swiss drugmaker’s pharmeuticals unit head, said on Wednesday. The company has previously predicted Entresto peak sales of around $5 billion. (Reporting by John Miller, editing by John Revill)

https://www.reuters.com/article/novartis-results-entresto/novartis-sees-entresto-sales-peak-between-4-bln-and-5-bln-idUSZ8N15A01M

Albania starts exhuming Greece's WWII unburied fallen

January 29, 2018 / 4:38 PM / Updated 13 minutes ago Albania starts exhuming Greece's WWII unburied fallen Benet Koleka 3 Min Read HIMARE, Albania (Reuters) - The six Greek soldiers buried under the Brigo family’s olive trees near Himare, a town in southern Albania, have a shrine marking their resting place. Scattered in the nearby valleys, however, others don‘t. Their remains lie where they fell in 1941, fighting in hot pursuit of the Italian fascist troops they chased out of Greece. The Italians swept from Albania and were held back for a while until German troops had to step in. The Greek prime minister famously said one word - ochi, or no - when asked to surrender, still marked in Greece as Ochi Day. Greek families come to Albania to pay their respects on Ochi Day every year, but have no real graves to stand by. Having tried in fits and starts to exhume and rebury the Greek fallen since Albania ditched communism in 1992, Athens and Tirana have finally started to exhume 7,976 fallen soldiers to re-inter them in cemeteries across Albania. The first remains have already been exhumed in Sajmola Valley in central southern Albania. Greece’s foreign ministry described them as “the last unburied fallen of World War Two”. At the foot of Mount Skutara, in an olive grove overlooking Greece’s Corfu island, six dead soldiers were less forgotten. They were killed by Italian artillery shortly after celebrating Orthodox Easter at Jani Brigo’s home. “My father’s dying wish was that I preserve Andreas Provatas’s wallet and watch over the graves,” Ermioni Brigo, 85, told Reuters as she swept away olives from the memorial. “I did, although helping them (impacted) us like gangrene.” Her father was jailed for 11 months by the Italians, accused of being a “philhellene”, and was then arrested by the communists, only to be saved by an Albanian deserter from the Italian army he had sheltered and who has since become a partisan commander. In Sajmola Valley, Italians were once buried, but the plot is now empty because Italy repatriated them. The Greeks want their dead to be buried here, something that has caused some political grumbling by Albanians who worry about Greek nationalists’ claims on southern Albania, home also to the ethnic Greek community. Hence some of the delay. A short ride east, at the Church of Saint Nicholas near Kelcyre, the bones of 257 unidentified Greeks have been stored in white bags inside aluminium and wooden caskets for four years. Outside, the graves for them are empty. “They are dead and do no harm, the evil is amongst us, the living,” the church’s warden Kristo Koci, 75, told Reuters. Reporting by Benet Koleka Editing by Jeremy Gaunt

https://uk.reuters.com/article/uk-albania-greece-ww2graves/albania-starts-exhuming-greeces-wwii-unburied-fallen-idUKKBN1FI23K

Lloyd's of London to open Brussels unit in early 2019 - CEO

January 15, 2018 / 11:36 AM / Updated 42 minutes ago Lloyd's of London to open Brussels unit in early 2019 - CEO Sumeet Chatterjee 3 Min Read HONG KONG (Reuters) - Insurance market Lloyd’s of London, an integral part of the British business scene since the 17th century, is on track to start operations at its Brussels unit next January, its chief executive said on Monday. Lloyd's Chief Executive Officer Inga Beale attends an interview in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip Lloyd’s has been among the most vocal financial businesses on the need for a European Union subsidiary if Britain has no access to the single market after leaving the bloc and is one of the first to announce such a move. Lloyd‘s, which started life in Edward Lloyd’s coffee house in 1688, houses more than 80 syndicates in a building in the City of London. Its syndicates focus on specialist insurance and reinsurance in anything from oil rigs to athletes’ legs. The venerable insurance market said last March that it had chosen Brussels as the site for its EU subsidiary because of its strong regulatory framework. “We are hiring people, we hope to make some appointments shortly. We will have the Brussels subsidiary up and running by January 1, 2019,” Chief Executive Inga Beale told Reuters on the sidelines of a financial forum in Hong Kong. “That is ahead of the actual official exit, but we run a market and we want to be ready for all of our businesses and syndicates that operate within the market. That’s why we are really pushing ahead.” Lloyd's Chief Executive Officer Inga Beale poses during an interview in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip Beale said that the application for setting up the Brussels subsidiary was with the Belgium regulator and that Lloyd’s is seeking office space and putting technology systems in place. “The only thing that might change it ... is any sort of delay to an actual impact of Brexit,” she said, referring to the launch plan. Lloyd's Chief Executive Officer Inga Beale poses during an interview in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip On the hiring plans for the Brussels unit, Beale said “it will be in the tens, probably, up to 40 or something”, adding that the group would also move some roles from other centres to the new subsidiary. Lloyd‘s, which earns about 10 percent of its global revenue from insurance premiums underwritten in Asia Pacific, has also been expanding in the region and set up an onshore presence in India last year. Its major markets in the Asia Pacific region include China, Hong Kong, Japan and Singapore. “It’s very, very important and we will be growing,” Beale said, referring to the Asia Pacific region, adding that there is growing demand for insurance providing coverage for political risk, terrorism and cyber breaches. Reporting by Sumeet Chatterjee; Editing by David Goodman

https://uk.reuters.com/article/uk-britain-eu-lloyds-of-london/lloyds-of-london-to-open-brussels-unit-in-early-2019-ceo-idUKKBN1F41CW

Treaty opposing violence against women will lead to 'moral decay', Bulgarian church says

January 22, 2018 / 6:46 PM / in 36 minutes Treaty opposing violence against women will lead to 'moral decay', Bulgarian church says Reuters Staff 3 Min Read SOFIA (Reuters) - The Bulgarian Orthodox Church on Monday urged lawmakers not to ratify a treaty designed to combat violence against women and domestic violence, saying it was opening the door to “moral decay”. It said some of the treaty’s clauses raised concern about the future of European Christian civilization, importing alien values from a godless society. Earlier this month the center-right government led by Prime Minister Boyko Borissov submitted the Council of Europe convention for ratification in the parliament in a move that divided opinions in the European Union’s poorest country, which now holds the EU’s rotating presidency for the first time since it joined the bloc in 2007. The 81-article document, also known as the Istanbul Convention, is intended to reinforce measures to protect women from violence. Some 28 countries ratified the treaty, which has been signed by 45 countries, including Bulgaria. The Bulgarian Church, however, has joined the chorus against ratification, saying it is opening the door to moral decay. It said the document opposes the basic beliefs of the Bulgarian people about faith, nationality, morality, honor, dignity, education and family. “It is a tool that instills a value system that is unfamiliar to us in order to allow society to be governed by a new model in the interests of a small part of it,” the Church’s Holy Synod, its top executive body, said in a statement. Junior coalition partner United Patriots, an alliance of three nationalist parties, and the Socialist Party - the largest opposition party in the Balkan country, have joined forces to oppose the cabinet’s decision while populist Will said some texts should be removed. But Tsvetan Tsvetanov, the head of the ruling GERB party’s parliamentary group, it was an EU commitment and would not bring the coalition down. The Church said the treaty opens the door to spiritual death and is totally opposed to Christianity. “It raises concerns about the future of the European Christian civilization because it contains a new understanding of man - man as an absolute master, the man without God who follows his desires and passions to such an extent that he can even determine his gender,” the Holy Synod said. “The consequences of denying biblical truths are tragic and we are witnessing them in many societies where ”gender“ ideology has long been a state policy,” the church said. Around 80 percent of Bulgarians identify themselves as Orthodox Christians - the mainstream religion also in Russia, Ukraine, Belarus, Greece, Romania and Serbia. But only a few see church-going as important to their lives. Trust in the Orthodox Church was shaken after a history commission showed a few years ago that many bishops collaborated with the former communist era secret police. Reporting by Angel Krasimirov Editing by Jeremy Gaunt.

https://www.reuters.com/article/us-bulgaria-church-treaty/treaty-opposing-violence-against-women-will-lead-to-moral-decay-bulgarian-church-says-idUSKBN1FB2LS

U.S. civil rights anthem 'We Shall Overcome' now in public domain

January 26, 2018 / 11:49 PM / Updated 12 hours ago U.S. civil rights anthem 'We Shall Overcome' now in public domain Jonathan Stempel 3 Min Read NEW YORK (Reuters) - The lyrics and melody of “We Shall Overcome” are now part of the public domain, following the settlement of a copyright lawsuit over the civil rights anthem long associated with the late folk singer Pete Seeger. Friday’s settlement came 1-1/2 years after another familiar song whose copyright status was disputed, “Happy Birthday,” was declared in the public domain. It followed a decision Sept. 8 by U.S. District Judge Denise Cote in Manhattan striking down copyright protection for the lyrics and melody of the first verse of “We Shall Overcome.” That verse, whose words repeat in the fifth verse, includes the lyrics “We shall overcome/We shall overcome some day,” and “Oh deep in my heart I do believe/We shall overcome some day.” A trial on other issues was scheduled to begin next month. The lawsuit had been filed in April 2016 by the nonprofit We Shall Overcome Foundation and producers of “Lee Daniels’ The Butler,” who paid to use the song in that 2013 movie, against the publishers Ludlow Music and Richmond Organization. “We are extremely gratified to achieve a victory of this importance, for a song that has so much meaning for so many people,” Mark Rifkin, a lawyer for the plaintiffs, said in an interview. The settlement puts the lyrics and melody of the 1960 and 1963 versions of “We Shall Overcome,” which respectively have five and eight verses, in the public domain. Seeger is credited with writing verse two of both versions, and verse eight of the later version, Rifkin said. The song’s origins are unknown, but Cote has said it might have dated to an 18th-century hymn or a later black spiritual. Songwriter royalties have been donated since the early 1960s to the Highlander Research and Education Center, a nonprofit social justice and cultural center in New Market, Tennessee. Ludlow said it is retaining a copyright on the song’s musical arrangement. “Good people marching in the South took great comfort in singing this song together in the face of hatred and adversity in the struggle for social justice and equality in our country,” the publisher said in a statement. But it also warned that the words and melody might now be employed in “inaccurate historical uses, commercials, parodies, spoofs and jokes, and even for political purposes by those who oppose civil rights for all Americans. This is the saddest result of this case.” Reporting by Jonathan Stempel in New York; Editing by Cynthia Osterman

https://uk.reuters.com/article/us-music-weshallovercome/u-s-civil-rights-anthem-we-shall-overcome-now-in-public-domain-idUKKBN1FF2YY

China rights lawyer says legal licence revoked after criticising President Xi Jinping

January 16, 2018 / 3:10 AM / Updated 2 hours ago China rights lawyer says legal licence revoked after criticising President Xi Jinping Christian Shepherd 3 Min Read BEIJING (Reuters) - A prominent Chinese rights lawyer who wrote an open letter criticising President Xi Jinping said on Monday that authorities had revoked his licence to practice law. Beijing-based lawyer and activist Yu Wensheng has repeatedly criticised the ruling Communist Party over a multi-year sweeping crackdown on rights lawyers and activists, which has seen hundreds detained and dozens arrested. Chinese authorities briefly detained Yu in October after he wrote an open letter saying Xi was unsuited to lead China as he had strengthened “totalitarian” rule over the country. Yu told Reuters on Monday that he believed the revoking of his legal licence was part of reprisals for penning the open letter, but that it only made him more determined to persevere with his rights activism. “It won’t slow me down,” he said. The Beijing Municipal Bureau of Justice told Yu in a letter that his licence had been cancelled because he had not been employed by a registered law firm for over six months, according to a picture of the letter seen by Reuters. A man who answered the telephone at the bureau said he was unfamiliar with the case and declined to make further enquiries. A set of measures on the practice of Chinese law firms and lawyers was revised in late 2016 to include higher levels of scrutiny of the speech and conduct of lawyer, as well as greater requirements of political loyalty for firms and practitioners. Rights groups say the revisions were aimed at preventing the legal community from taking on sensitive rights cases or speaking out against political prosecution of legal work. Yu had also been involved in attempting to defend a fellow rights lawyer Wang Quanzhang, who was detained during a spate of lawyer detentions in July 2015. Authorities have blocked his attempts to meet Wang. Wang, who has been detained for over 900 days, has been charged with subversion of state power. Wang’s wife, who has protested on her husband’s behalf, had asked Yu to defend him after rejecting court-appointed lawyers. Yu’s wife Xu Yan said in a statement sent to Reuters that she and Yu had spent over 150,000 yuan attempting to set up an independent legal practice for Yu after he left his old firm last year. “Now, the Beijing justice bureau says its not going to happen, so it’s not going to happen,” she said. Reporting by Christian Shepherd; Additional reporting by Philip Wen; Editing by Michael Perry

https://uk.reuters.com/article/uk-china-rights/china-rights-lawyer-says-legal-licence-revoked-after-criticising-president-xi-jinping-idUKKBN1F506T

UPDATE 1-Argentina grew 2.9 pct in 2017, avoids GDP warrant payment -source

(Adds fourth quarter figure, background on GDP warrants and Argentina economy) BUENOS AIRES, Jan 19 (Reuters) - Argentina’s gross domestic product (GDP) expanded by 2.9 percent in 2017, and grew 0.7 percent in the fourth quarter from the third quarter, a Treasury Ministry source said on Friday, bouncing back from a 2.2 percent contraction the prior year. The annual growth figure means Argentina will not have to make a coupon payment on growth-linked bonds known as GDP warrants this year, the source said. Growth of more than 3 percent would have triggered a payment. Payments on the warrants, issued as part of debt exchanges in 2005 and 2010 following Argentina’s 2001 default, could have totaled as much as $3 billion. Latin America’s No. 3 economy could still make payments in future years if growth exceeds 3 percent. The government’s 2018 budget estimates growth of 3.5 percent this year. The economy grew 4.2 percent in the third quarter compared with the third quarter of 2016 and expanded 2.5 percent in the first nine months of the year, according to the most recent data from Argentina’s Indec government statistics agency. Indec is expected to publish fourth quarter GDP data on March 21. The official determination of whether the GDP warrant payments will be made depends on revised data Indec will publish later this year. (Reporting by Luc Cohen and Walter Bianchi; Editing by Chizu Nomiyama and Grant McCool)

https://www.reuters.com/article/argentina-economy/update-1-argentina-grew-2-9-pct-in-2017-avoids-gdp-warrant-payment-source-idUSL1N1PE1PB

Navratilova backs Kvitova, Venus at Australian Open

(Reuters) - Former world number one Martina Navratilova believes Petra Kvitova’s attacking style of play makes her one of the top contenders for next week’s Australian Open, while Venus Williams’ experience gives her the edge over the rest of the women’s field. Kvitova, a two-time Wimbledon champion, missed the entire Australian season last year after she received a serious injury to her playing hand while fighting off a knife-wielding intruder in her home in Dec. 2016. Despite winning a grasscourt title in Birmingham, it was not until the U.S. Open where Kvitova looked close to reaching her top form, reaching the quarter-finals, and then going a step further with a semi-final appearance in Beijing in October. “I’ve always had a soft spot for Petra Kvitova - after all, she’s a Czech lefty like me - and my admiration and affection for her has only grown due to the way she has fought back to form over the last 12 months,” Navratilova wrote in her column for the WTA’s official website (www.wtatennis.com). ”In the absence of Serena Williams, I believe it’s entirely possible Kvitova could end up landing the title at the Australian Open... and what a story that would be. Venus Williams of the USA hits a shot during a practice session ahead of the Australian Open tennis tournament. REUTERS/David Gray “Kvitova’s attacking tennis brought her two Wimbledon titles, and the Plexicushion courts in Melbourne are lightning quick - like grass, only faster - so the surface should be perfect for her.” Serena Williams decided not to defend her title in Melbourne this year after saying she was not yet ready to compete at the top level after giving birth to her first child in September. It leaves her sister Venus with another opportunity to win her first Australian Open title, having finished runner-up last year. “While this tournament is wide open, and there are a number of players who could win the title, I would give Williams a slight edge over the others,” Navratilova added. “Last year, Williams came so close in Melbourne... and now she goes into the tournament knowing she won’t have to deal with Serena, and that should put some pep in her step.” The first grand slam of the year begins at Melbourne Park on Monday. Reporting by Hardik Vyas in Bengaluru; Editing by Christian Radnedge

https://www.reuters.com/article/us-tennis-ausopen-navratilova/navratilova-backs-kvitova-venus-at-australian-open-idUSKBN1F12AP

Alpine skiing - Gut battling for full fitness after knee injury

16 PM / Updated 10 minutes ago Alpine skiing - Gut battling for full fitness after knee injury Brian Homewood 3 Min Read ST MORITZ, Switzerland (Reuters) - Widely seen as Switzerland’s great hope for a skiing gold at the 2018 Games, Lara Gut is still struggling to regain race fitness after suffering a knee injury a year ago. FILE PHOTO: Alpine Skiing - Alpine Skiing World Cup - Women's Overall World Cup victory ceremony - St. Moritz, Switzerland - 20/3/16 - Lara Gut of Switzerland reacts REUTERS/Arnd Wiegmann/File photo The 26-year-old, who in 2016 became the first Swiss woman to win the overall World Cup since Vreni Schneider in 1995, made a quicker than expected return from surgery when she raced at Soelden at the end of October. But she admitted recently that her race-winning instincts have yet to return and she has managed only one podium finish, a second place in the Super G at Lake Louise. “The good turns don’t come as automatically and naturally as they did before,” she said after finishing fourth in a Super G at Val d‘Isere last month. Gut, a specialist in the speed events, has already suffered Olympic frustration when she was forced to miss the Vancouver Games in 2010 due to a slow recovery from a dislocated hip. She reached Sochi four years later in peak condition but had to be content with a bronze in the downhill, won jointly by Tina Maze of Slovenia and Gut’s compatriot Dominique Gisin, and was fourth in the Super G. Gold medals have also eluded her at the world championships where she has won three silvers and two bronze. Born in the Italian-speaking canton of Ticino, Gut was coached from the start of her career by her father Pauli. FILE PHOTO: Alpine Skiing - Alpine Skiing World Cup - Women's Giant Slalom race 1st run - St. Moritz, Switzerland - 20/3/16 - Lara Gut of Switzerland clears a gate REUTERS/Arnd Wiegmann/File photo She took part in her first World Cup race at Lienz in December 2007 and finished on the podium in her first World Cup downhill at St Moritz two months later. The first of her 23 World Cup wins also came at St Moritz the following December when she won the Super G. After winning silver medals in the Super G and combined events at the 2009 world championships in Val d‘Isere, she missed the whole of the 2009/10 season through injury. Her career really began to blossom in 2013/14 when she won seven World Cup races, followed by two the following season and six in 2015/16, the year she took the overall title. Her dreams of a gold at last year’s world championships in St Moritz -- previously a happy hunting-ground -- were shattered when he suffered a torn anterior cruciate ligament while training for the slalom part of the combined event. But Gut said the recovery gave her some much-needed time for reflection. “I learnt the importance of being at peace with oneself during those six months,” she said before her comeback race at Soelden. “It’s always been my greatest challenge finding a balance between what I have to do and what is good for me.” “I devoted too much time for Lara the athlete and I forgot about Lara the person.” Editing by Greg Stutchbury

https://uk.reuters.com/article/uk-olympics-2018-alps-gut/alpine-skiing-gut-battling-for-full-fitness-after-knee-injury-idUKKBN1ES11G

LIVE MARKETS-What you need to know

January 22, 2018 / 7:45 AM / in an hour LIVE MARKETS-What you need to know Reuters Staff 5 Min Read Jan 22 (Reuters) - Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net WHAT YOU NEED TO KNOW (0740 GMT) It seems to be business as usual so far on European stocks markets with futures indicating shares to rise slightly, expect in London with the FTSE losing a few points. That could change however with a prolonged stalemate in Washington but in the meantime, in Europe, prospects of talks between Merkel allies and the SPD should support sentiment. Main newsmaker this morning is France's Sanofi, which confirmed a bid for U.S. peer Bioverativ , another sign that M&A should indeed continue to spice things up. Switching from spice to sugar, Italian airports and motorway operator Atlantia is open to sweeten its bid to Abertis and other takeover preys, such as Ablynx in Belgium or GKN in the UK, expect their would-be suitors to cough up more cash to woo investors. A deal is not always needed though for shareholders to get extra cash: UBS proposed an increased dividend and new share buyback programme despite a hefty write down from a tax overhaul in the United States. Other movers today could include troubled South African retailer Steinhoff which plans to sell about 7.5 billion rand ($620 million) of shares in investment firm PSG Group it scrambles to plug a liquidity gap. Possible impact also of the chief executive of Dixons Carphone leaving Britain's largest electricals and mobile phone retailer to run the Boots chain. Also, platinum miner Lonmin reported a 65 percent drop in 2017 profit, citing higher costs and subdued commodity prices but reiterated its 2018 targets Please have a look below for a summary of our main headlines. (Julien Ponthus) MAIN HEADLINES (0740 GMT) Healthcare group Sanofi agrees to buy U.S. peer Bioverativ for $11.6 bln Richemont offers 2.8 bln euros to buy Yoox Net-A-Porter Steinhoff to place shares in PSG Group worth around $620 million UBS ups investor returns as US tax overhaul socks bank with quarterly loss Takeover target GKN raises forecast for electric driveline sales Dixons Carphone reports 6 percent jump in underlying revenue Dixons Carphone CEO James quits for job at Boots TUI sees record sales, earnings in 2018-paper Atlantia opens door to sweetening Abertis bid Takeaway.com says merger with Delivery Hero an option –paper UK Q4 motor insurance premiums fall 1.3 pct-survey Britain to limit gambling terminal stakes to two pounds-Sunday Times LVMH hires Hedi Slimane for Celine brand Engie to keep separate CEO, board chair roles -finance minister Deutsche Telekom expects steady dividend hikes –paper Hearing on Vivendi's appeal against Italian antitrust ruling postponed Schaeffler CEO says splitting company would be unwise -paper UK Takeover Panel extends deadline for IWG bidding Sika CEO says share price rise could end takeover battle UK's Computacenter says to beat 2017 expectations, sees stable 2018 Lonmin reports 65 percent fall in 2017 profit on higher costs (Tom Pfeiffer) EUROPE'S STOCK FUTURES SLIGHTLY UP (0705 GMT) Futures have opened with slight gains overal but London's FTSE 100 is seen, as earlier indications from spreadbetters showed, opening in negative territory. (Julien Ponthus) WHAT TO EXPECT ON MARKETS DURING A U.S. SHUTDOWN? (0645 GMT) While many see minimal impact on the economy from a short-term government shutdown, analysts say a prolonged stalemate in Washington could dampen investors' confidence in U.S. assets. Here's how Nordea sums up what's to be expected based on the previous shutdowns: (Julien Ponthus)

https://www.reuters.com/article/europe-stocks/live-markets-what-you-need-to-know-idUSL8N1PH17H

T. Rowe Price Group Inc expected to post earnings of $1.50 a share - summary

January 22, 2018 / 7:30 PM / in 9 minutes CORRECTED-T. Rowe Price Group Inc expected to post earnings of $1.50 a share - summary Reuters Staff (Corrects first sentence to show date of earnings release) Jan 22 (Reuters) - * T. Rowe Price Group Inc is expected to show a rise in quarterly revenue when it reports results, expected on January 30. * The Baltimore, Maryland-based company is expected to report a 16.4 percent increase in revenue to $1.27 billion from $1.09 billion a year ago, according to the mean estimate of 11 analysts, according to Thomson Reuters data. * The analyst mean estimate for T. Rowe Price Group Inc is for earnings of $1.51 per share. For the same quarter last year, the company reported earnings of $1.50 per share. * The current average analyst rating on the shares is “hold” and the breakdown of recommendations is 5 “strong buy” or “buy,” 9 “hold” and 2 “sell” or “strong sell.” * The Starmine predicted earnings surprise, the difference between Wall Street’s mean estimate and Starmine’s estimate of its highest rated analysts, is positive for T Rowe Price Grp at 2.17 percent; predicted revenue surprise is positive at 0.23 percent. * The mean earnings estimate of analysts was unchanged in the last three months. * The earnings announcement is scheduled for January 24 at 01:30 p.m. GMT. * T. Rowe Price Group Inc belongs to the NASDAQ Composite Index. This summary was generated 01:30 p.m. GMT.

https://www.reuters.com/article/t-rowe-price-grp-results-preview/t-rowe-price-group-incexpected-to-postearnings-of-1-50-a-share-summary-idUSL8N1PH4AX

Manchester City complete Laporte signing for club-record fee

January 30, 2018 / 1:55 PM / Updated an hour ago Manchester City complete Laporte signing for club-record fee Reuters Staff 2 Min Read (Reuters) - Manchester City have signed French central defender Aymeric Laporte from Spanish club Athletic Bilbao, the Premier League leaders said on Tuesday. British newspapers reported that City paid a club-record 57 million pounds for the 23-year-old Laporte who has signed a contract until 2023. The club’s previous record fee was 55 million pounds paid to Wolfsburg for midfielder Kevin de Bruyne in 2015. ”I am very happy to be here,“ Laporte said in a club statement. ”City are a club with a lot of ambition and they are one of the best teams in Europe. ”I am looking forward to working under Pep Guardiola and trying to help the Club to achieve success. “It means a lot that the Club have shown faith in me and I am excited to get started.” City coach Guardiola wanted to add another centre back to his squad to challenge Nicolas Otamendi and John Stones with ongoing injury concerns surrounding captain Vincent Kompany. Laporte, a left-footed defender, was a first-team regular at Bilbao since breaking through in the 2012-13 season and he helped them win the 2015 Spanish Super Cup. He clocked up a total of 222 appearances for the Basque club, scoring 10 goals. On the international stage, Laporte has featured 19 times for France at Under-21 level. Laporte becomes City’s sixth signing of the season following the arrival of Ederson, Danilo, Kyle Walker, Benjamin Mendy and Bernardo Silva at the start of the campaign. Speaking at a news conference ahead of Wednesday’s league clash against West Bromwich Albion, Guardiola said Laporte has all the attributes required to adapt to the demands of the English game. “We are very aware of his skills. He’s an experienced central defender on the big stages and has the skills to help us,” Guardiola said. ”He will be able to start right away. The Premier League is special in many senses. But he is intelligent. “It’s always tough for a new player but we will be patient with him. He is the perfect age to be with us for a while.” Reporting by Hardik Vyas in Bengaluru, editing by Ed Osmond and Christian Radnedge

https://uk.reuters.com/article/uk-soccer-england-mci-laporte/manchester-city-complete-laporte-signing-for-club-record-fee-idUKKBN1FJ1WB

Vape shops sue to block U.S. regulation covering e-cigarettes

Jan 30 (Reuters) - A group of vape shops in five U.S. states on Tuesday announced a trio of lawsuits challenging a rule adopted by the Food and Drug Administration that allows the regulator to treat e-cigarettes and similar devices like cigarettes. The vape shops, represented by the Pacific Legal Foundation conservative legal group, in lawsuits filed in federal courts in Texas, Minnesota and Washington, D.C., argued the 2016 rule was unconstitutional. The shops located in California, Michigan, Minnesota, North Dakota, and Texas argue that the so-called "Deeming Rule" that deems e-cigarettes to be tobacco products was not legally adopted because it was issued by a career FDA employee, rather than an officer appointed by the president. The lawsuits also contend that the rule violates the U.S. Constitution's free speech protections by requiring vape retailers to obtain the FDA's approval before advertising information about their products' health and related effects. "These regulations don't just harm small businesses and consumers, they undermine constitutional safeguards for individual liberty," Thomas Berry, a lawyer with Pacific Legal Foundation, said in a statement. The FDA declined to comment. The lawsuits come amid legal and legislative efforts by tobacco and vaping companies to derail the FDA rule, which was adopted during Democratic President Barack Obama's administration. In 2009, Congress passed a law allowing the FDA to extend its oversight to all tobacco products. The 2016 rule brought e-cigarettes, cigars, pipe tobacco and hookah tobacco in line with existing rules for cigarettes and smokeless tobacco. As a result, companies are now required to submit e-cigarettes and other newer tobacco products for government approval, list their ingredients and place health warnings on packages and in advertisements. E-cigarettes heat nicotine-laced liquid into vapor but do not contain tobacco. Big tobacco companies such as Altria Group Inc see vaping products as a promising business line and have lobbied alongside their smaller e-cigarette counterparts against the rule. The vape shops that filed the lawsuits announced on Tuesday contend that they were being subjected to burdensome rules that had hurt their ability to attract customers and restricted how that could advertise their businesses. (Reporting by Nate Raymond in Boston Editing by Marguerita Choy)

https://www.cnbc.com/2018/01/30/reuters-america-vape-shops-sue-to-block-u-s-regulation-covering-e-cigarettes.html

Patriots, Eagles ready for Super Bowl showdown

13 PM / Updated 9 minutes ago Patriots, Eagles ready for Super Bowl showdown Reuters Staff 2 Min Read (Reuters) - The New England Patriots and Philadelphia Eagles have set up a second Super Bowl showdown after both teams won their respective conference championships with contrasting victories on Sunday. The reigning NFL champion Patriots overcame a stubborn Jacksonville Jaguars 24-20 in the AFC title game, while the Eagles crushed the Minnesota Vikings 38-7 in the NFC decider to set up a Feb. 4 clash in Minneapolis. New England enjoyed the upper hand when the two last contested an NFL title game in 2005, winning 24-21, and should the favoured Patriots repeat that triumph, they will secure a record-tying sixth Super Bowl victory. The Pittsburgh Steelers are currently the only team with more NFL championships than the Patriots, who will be making their 10th appearance in the title game. Philadelphia has never won a Super Bowl, the Eagles also losing in 1981 before that Patriots defeat 13 years ago. Overall, the teams have met have 13 times through the years, with the Eagles winning seven of the games, the last in 2015. Jan 21, 2018; Foxborough, MA, USA; New England Patriots quarterback Tom Brady (12) celebrates after a first down by running back Dion Lewis (33) picks up a first down in the fourth quarter in the AFC Championship Game against the Jacksonville Jaguars at Gillette Stadium. Mandatory Credit: Robert Deutsch-USA TODAY Sports Tom Brady, despite an injured hand, rallied New England from a 10-point deficit in the fourth quarter with two touchdown passes to Danny Amendola to beat Jacksonville, Philadelphia had its own quarterback star to thank for their victory when Nick Foles passed for three touchdowns as the Eagles scored 38 unanswered points. Slideshow (9 Images) The Eagles also crushed Minnesota’s dream of becoming the first team to play a Super Bowl in their home stadium. Along with chasing a sixth title, New England also has another goal: seeking to become the first team in 13 seasons to win back-to-back Super Bowls. They were the last to achieve the feat, capturing the 2003 and 2004 crowns behind the arm of Brady, who has been the Patriots quarterback for all five of their titles, a record. “It’s just been an unbelievable run,” said Brady, who will be making his eighth Super Bowl appearance with coach Bill Belichick. Reporting by Gene Cherry in Salvo, North Carolina; Editing by John O'Brien

https://uk.reuters.com/article/uk-football-nfl-superbowl/patriots-eagles-ready-for-super-bowl-showdown-idUKKBN1FB279

Archrock, Inc. Announces Agreement to Acquire Remaining Public Stake in Archrock Partners, L.P.

Accelerated deleveraging with increased retained cash flow Combined company targeting 10-15 percent annual dividend growth through 2020 Expected cash available for dividend coverage above 2.00x through 2020 Elimination of incentive distribution rights and simplified capital structure 23.4% premium to Archrock Partners trading price on December 29, 2017 Expected to be immediately accretive to Archrock, Inc. shareholders Transaction expected to close in Q2 2018 HOUSTON, Jan. 02, 2018 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE:AROC) (“Archrock” or “AROC”) and Archrock Partners, L.P. (NASDAQ:APLP) (“Archrock Partners” or “APLP”) today announced that they have entered into a definitive merger agreement under which Archrock will acquire all of the outstanding common units of Archrock Partners it does not already own for Archrock common stock valued at approximately $607 million, based on the most recent closing price of Archrock common stock. Under the merger agreement, each outstanding common unit of Archrock Partners that Archrock does not already own will be converted into 1.400 shares of Archrock common stock, representing a 23.4 percent premium to the Archrock Partners closing price on December 29, 2017; and a 23.9 percent premium to Archrock Partners volume-weighted average trading price during the ten trading days ended December 29, 2017. “We believe the combination of Archrock and Archrock Partners will enhance our cash available for dividend coverage, improve our credit profile, simplify our capital structure, and lower our cost of capital. Additionally, our increased retained cash flow will better position us to continue to invest in our robust opportunity set of growth projects and significantly reduce our need for equity capital,” said Brad Childers, President and Chief Executive Officer. “We believe this transaction is attractive for our stockholders and unitholders, as it will improve our platform to capture the next leg of growth in the U.S. natural gas compression market.” The transaction is expected to be immediately accretive to Archrock, and the combined company is expected to have a cash available for dividend coverage ratio above 2.00x through 2020. Management intends to recommend to the Archrock board of directors a 10 percent increase in the first full quarterly dividend following the completion of the transaction and expects a 10 to 15 percent annual dividend growth rate through 2020. Following the completion of the transaction, Archrock is expected to have an approximate $2.8 billion enterprise value and will continue to be the largest outsourced provider of natural gas compression services in the United States. Stockholders of Archrock and unitholders of Archrock Partners are expected to benefit from the larger size of the combined company, improved equity trading liquidity, and a lower cost of funding for future growth. Following the completion of the transaction, Archrock does not expect to pay cash federal income taxes through at least 2023. Additional Transaction Terms and Details Under the terms of the merger agreement, Archrock will acquire all of the approximately 41.3 million outstanding units of Archrock Partners it does not already own at a fixed exchange ratio of 1.400 Archrock common shares for each publicly held common unit of Archrock Partners. Archrock Partners common units will no longer be publicly traded after the transaction. In aggregate, Archrock will issue approximately 57.8 million shares in connection with the proposed transaction, representing approximately 44.9 percent of the total shares outstanding of the pro forma combined entity. Following completion of the transaction, all senior notes of Archrock Partners will remain outstanding. Because Archrock Partners will be wholly owned by Archrock, the incentive distribution rights in Archrock Partners will be terminated upon the closing of the transaction. The transaction terms were negotiated, reviewed and approved by the conflicts committee of the board of directors of the managing general partner of Archrock Partners and approved by the board of directors of the managing general partner of Archrock Partners. The Archrock Partners conflicts committee is composed of the independent members of the board of directors of Archrock Partners’ managing general partner. The board of directors of Archrock also approved the merger agreement. Conditions to Closing Subject to customary approvals and conditions, the transaction is expected to close in the second quarter of 2018. The transaction is subject to the approval of APLP common unitholders and AROC stockholders and the effectiveness of a registration statement related to the issuance of the new AROC shares to Archrock Partners’ unitholders. Advisors Citi is acting as exclusive financial advisor and Latham & Watkins is acting as legal advisor to Archrock. Evercore Group L.L.C. is acting as exclusive financial advisor and Akin Gump Strauss Hauer & Feld LLP and Morris, Nichols, Arsht & Tunnell LLP are acting as legal advisors to the Archrock Partners conflicts committee. Conference Call Details Archrock and Archrock Partners will host a joint conference call on January 2, 2018 to discuss the transaction. The call will begin at 10:00 a.m. Eastern Time. To listen to the call via a live webcast, please visit Archrock’s website at www.archrock.com . The call will also be available by dialing 1-888-771-4371 in the United States and Canada or +1-847-585-4405 for international calls. Please call approximately 15 minutes prior to the scheduled start time and reference Archrock conference call number 4624 2542. A replay of the conference call will be available on Archrock’s website for approximately seven days. Also, a replay may be accessed for approximately seven days by dialing 1-888-843-7419 in the United States and Canada, or +1-630-652-3042 for international calls. The access code is 4624 2542#. Archrock non-GAAP measures Cash available for dividend, a non-GAAP measure, is defined as distributions received by Archrock from Archrock Partners, L.P., plus Archrock deconsolidated gross margin (defined as total revenue less cost of sales (excluding depreciation and amortization expense), less the following deconsolidated items: maintenance and other capital expenditures, cash sales, general and administrative expense excluding corporate office relocation costs, cash interest expense associated with Archrock’s debt, cash tax and (gain) loss on sale of property, plant and equipment. Cash available for dividend coverage is defined as cash available for dividend divided by total dividends. Archrock is unable, without unreasonable efforts, to provide a quantitative reconciliation of its preliminary non-GAAP outlook of cash available for dividend coverage because net income or loss, maintenance and other capital expenditures, expense or benefit from income taxes, and cash tax expense or refund cannot be estimated due to the level of unpredictability and uncertainty associated with these items. For these same reasons, Archrock is unable to assess the probable significance of these excluded items. About Archrock Archrock, Inc. (NYSE:AROC) is a pure-play U.S. natural gas contract compression services business and a leading supplier of aftermarket servic

http://www.cnbc.com/2018/01/02/globe-newswire-archrock-inc-announces-agreement-to-acquire-remaining-public-stake-in-archrock-partners-l-p.html

Slovak Republic - Factors To Watch on Jan 24

BRATISLAVA, Jan 24 (Reuters) - Here are news stories, press reports and events to watch which may affect Slovak financial markets on Wednesday. ALL TIMES GMT (Slovak Republic: GMT + 1 hour) ECONOMIC DATA Real-time economic data releases Summary of economic data and forecasts Recently released economic data Previous stories on Slovak data **For a schedule of corporate and economic events: here #/1C/events-overview PRESS DIGEST VOLKSWAGEN: Volkswagen's Slovak plant resumed operations on Tuesday after a month-long holiday break, the company said. here (Reuters has not verified the stories, nor does it vouch for their accuracy.) For real-time stock market index Quote: s click in brackets: Warsaw WIG20 Budapest BUX Prague PX Main currency report TOP NEWS -- Emerging markets News editor of the day: Jan Lopatka +420 224 190 476 E-mail: prague.newsroom@thomsonreuters.com (Reporting by Prague Newsroom)

https://www.reuters.com/article/slovak-factors/slovak-republic-factors-to-watch-on-jan-24-idUSL8N1PJ1H9

Self-balancing smart suitcase follows you around

Self-balancing smart suitcase follows you around 4:08pm EST - 01:23 The latest so-called smart suitcase, that's a suitcase that follows you around, has only two wheels and auto-balancing technology and a price yet to be announced. Stuart McDill reports. ▲ Hide Transcript ▶ View Transcript The latest so-called smart suitcase, that's a suitcase that follows you around, has only two wheels and auto-balancing technology and a price yet to be announced. Stuart McDill reports. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2D1gvZ0

https://www.reuters.com/video/2018/01/11/self-balancing-smart-suitcase-follows-yo?videoId=381887110

Gunmen cross from Nigeria, attack Cameroon border post: witnesses

DOUALA (Reuters) - Gunmen attacked a border crossing in Cameroon’s southwest on Thursday, launching their assault from Nigeria, according to security officials who witnessed the incident. A Nigerian military spokesman denied the assailants had crossed over from Nigeria, and the incident is likely to further damage relations between the neighbours, strained over the rise of an Anglophone Cameroonian separatist movement. Four security agents and a customs official described the incident, saying the unidentified gunmen launched their attack on the Ekok border post along Cross River. “They came around 3 a.m. (0200 GMT). They came from Nigeria and there were many of them. They had heavy weapons. They had grenades. They were shooting everywhere,” said one police source, who like the other witnesses asked not to be identified. Speaking from Ekok by telephone and still clearly shaken, the police officer said the shooting lasted nearly three hours and the border remained closed on Thursday morning. “Some of these guys came from the riverside (beneath the bridge). We don’t know exactly which path they took, but all of them came from Nigeria,” a second security source told Reuters. The witnesses said several people had been injured in the attack, without giving details. But Communications Minister Issa Tchiroma Bakary, while acknowledging the attack, said no one had been hurt or killed. “The attackers used explosives to destroy two vehicles belonging to the BIR (Rapid Intervention Brigade),” he said, declining to comment on whether the gunmen had come from Nigeria. Nigerian military spokesman John Agim said Nigerian authorities had spotted armed men on the Cameroonian side of the border, but denied that they had either crossed from or into Nigeria. GUERRILLA CAMPAIGN Cameroon is made up mostly of territory that gained independence from France in 1960, which was combined a year later with a much smaller former British colony. Today, around a fifth of the population speaks English, mostly along the Nigerian border. Many of them complain of marginalization by the French-speaking majority. An anglophone separatist movement, once limited to the fringe, has grown in strength and popularity as President Paul Biya’s government has cracked down on peaceful protests. Cameroonian military officials and pro-government media accuse Nigeria of sheltering the insurgents, who since last year have waged a guerrilla campaign to establish an independent homeland for the English-speaking minority. Nigerian authorities arrested a leading member of the separatists and six of his followers as they held a meeting at a hotel in the capital Abuja earlier this month. Reuters reported last month that Cameroonian troops crossed into Nigeria in pursuit of the rebels without seeking authorisation from Nigeria, provoking a behind-the-scenes rift between two nations with a history of fraught relations. The militaries of Cameroon and Nigeria repeatedly clashed over the disputed Bakassi peninsula in the 1980s and 90s. The status of the territory was settled in Cameroon’s favour by The Hague-based International Court of Justice in 2002 and in recent years the two countries have cooperated extensively to stamp out the Islamist militant group Boko Haram. More than 43,000 refugees, nearly three times more than previously thought, have fled to Nigeria amid Cameroonian military operations against the separatists, Nigerian aid officials said on Thursday. Additional reporting by Paul Carsten and Felix Onuah in Abuja and Tife Owolabi in Yenagoa; Writing by Joe Bavier; Editing by Janet Lawrence and Peter Graff

https://www.reuters.com/article/us-cameroon-separatists-nigeria/gunmen-cross-from-nigeria-attack-cameroon-border-post-witnesses-idUSKBN1FE1LH

UPDATE 1-Norway's sovereign fund seeks permission to invest in unlisted firms

January 10, 2018 / 11:58 AM / Updated 30 minutes ago UPDATE 1-Norway's sovereign fund seeks permission to invest in unlisted firms Reuters Staff 2 Min Read (Adds background, detail) OSLO, Jan 10 (Reuters) - Norway’s $1 trillion sovereign wealth fund, the world’s largest, is seeking permission to broaden its investments to potentially include unlisted companies, the central bank, which manages the fund, said in a letter to the Norwegian finance ministry. A gradual build-up of unlisted stakes would most likely take place via investments in private equity funds or by investing alongside such funds, it said. The Norwegian fund has in the past lamented its inability to make early investments in companies that grow rapidly without a stock market listing, naming sharing-platforms Uber Technologies and Airbnb Inc. among the missed opportunities. The finance ministry last year asked the fund to review options for unlisted firms. “If the Ministry does permit unlisted equity investments, the Bank will approach investment opportunities and build expertise gradually, invest via and alongside others,” the central bank said. The fund said it would only go ahead with unlisted investments if and when this was expected to improve the trade- off between risk and return. The wealth fund currently has a value of 8,500 billion Norwegian crowns ($1.06 trillion), with about 65.9 percent held in listed stocks at the end of the third quarter, 31.6 percent in bonds and 2.5 percent in real estate. The equity portfolio, consisting of stakes in some 9,000 companies, corresponds to about 1.4 percent of all global listed shares. ($1 = 8.0375 Norwegian crowns) (Reporting by Terje Solsvik; Editing by Mark Potter and Jane Merriman)

https://www.reuters.com/article/norway-swf/update-1-norways-sovereign-fund-seeks-permission-to-invest-in-unlisted-firms-idUSL8N1P52CV

New easyJet boss takes salary cut to tackle gender pay gap

26 PM / Updated 18 minutes ago New easyJet boss takes salary cut to tackle gender pay gap Alistair Smout 2 Min Read LONDON (Reuters) - The new chief executive of easyJet will take a pay cut to match the salary of his predecessor Carolyn McCall, the British airline said on Monday, in a bid to battle against the gender pay gap. British companies are under heightened scrutiny over their pay structures and national broadcaster the BBC has faced criticism over why it pays some women less than men in equivalent jobs. New easyJet CEO Johan Lundgren will reduce his salary from 740,000 pounds to 706,000 to match the pay of McCall, who became the chief executive of broadcaster ITV at the start of this year. The rest of his pay package will also be the same. In his last job at travel group TUI ( TUIT.L ), Lundgren was paid 875,000 euros (£770,459), according to the firms annual report, and he said easyJet was committed to giving equal pay and opportunity to women and men. “I want that to apply to everybody at easyJet and to show my personal commitment I have asked the Board to reduce my pay to match that of Carolyn’s when she was at easyJet,” he said in a statement. He joined easyJet last December. McCall is one of just six female CEOs among Britain’s biggest 100 companies. A report last year by the High Pay Centre and the Chartered Institute of Personnel and Development (CIPD) found that male CEOs in the FTSE 100 earned on average 2.1 million pounds more than women in 2016, and were more likely to be called David than be female. The aviation industry has a particular issue with gender equality as a vast majority of pilots are men. EasyJet said on average, male employees earned twice as much as women but that was driven by the fact that 94 percent of its pilots were men. It said that pay rates are the same for men and women but pilots are paid more then other roles. EasyJet said it was aiming to recruit more women as pilots, with a target that 20 percent of new pilots would be female by 2020. Reporting by Alistair Smout; editing by Michael Holden

https://uk.reuters.com/article/uk-easyjet-pay-ceo/new-easyjet-boss-takes-salary-cut-to-tackle-gender-pay-gap-idUKKBN1FI1GC

U.S. top court takes up property rights case involving endangered frog

WASHINGTON, Jan 22 (Reuters) - The U.S. Supreme Court on Monday agreed hear a bid by Louisiana landowners seeking to limit the federal government’s power to designate private land as critical habitat for endangered species in a case involving a warty amphibian called the dusky gopher frog. The justices will hear an appeal by the landowners, backed by business groups including the U.S. Chamber of Commerce, of a lower court ruling upholding a 2012 U.S. Fish and Wildlife Service decision to include private land where the frog does not currently live as critical habitat, putting limits on future development opportunities. Reporting by Lawrence Hurley; Editing by Will Dunham

https://www.reuters.com/article/usa-court-frog/u-s-top-court-takes-up-property-rights-case-involving-endangered-frog-idUSL1N1P71DE

Qatar Airways' first Airbus A350-1000 to be delivered Feb 15-20: CEO

January 27, 2018 / 11:56 AM / Updated 7 hours ago Qatar Airways' first Airbus A350-1000 to be delivered Feb 15-20: CEO Hadeel Al Sayegh 3 Min Read DOHA (Reuters) - Airbus ( AIR.PA ) will deliver the first ever A350-1000 jet to an airline to Qatar Airways between Feb. 15 and Feb. 20, the carrier’s chief executive said on Saturday. Delivery of Europe’s largest twin-engined passenger jet to launch customer Qatar Airways had been delayed from late last year to some time next month due to issues with installing business class seats. “We are progressing very well to receive our aircraft somewhere between the 15th and 20th [of February],” Qatar Airways Chief Executive Akbar al-Baker told reporters in Doha. Qatar Airways has ordered 37 A350-1000s. The major Middle East airline is known to be a demanding customer when reviewing aircraft for quality defects before delivery. Qatar Airways has in the past refused to take delivery of aircraft over what it said were quality issues, and has also cancelled some deliveries. Airbus looks “forward to delivering the world’s first A350-1000 to Qatar Airways in the coming weeks,” Airbus’ Chief Operating Officer Fabrice Bregier said in a press release issued by the airline. The “complex seat configuration” of Qatar Airways’ Qsuite, business class which features seats that face each other, and lie-flat double beds, had delayed the delivery of the A350-1000, until February, Baker said on Monday without detailing a specific date. Slideshow (7 Images) The A350-1000 will be the first Airbus jet to feature the Qsuite, which was unveiled last year and has been installed on Qatar Airways’ Boeing ( BA.N ) 777 jets, Baker said. The A350-1000 is the largest version of the A350 series, and was launched to compete against Boeing’s 777s in the up to 400-seat market. Baker, speaking to reporters on board one of Airbus’ A350-1000 test aircraft, said the airline expected to receive four of the twin-engined jets this year. “This is contractually and I am confident that Airbus will deliver them to us,” he said. Qatar Airways plans to initially fly its first A350-1000 on long haul routes before adding it to ultra long-haul routes in a few months time, in case of any potential technical issues with the new jet. Baker said the airline hoped to take delivery of its first Boeing 777x by the first half of 2020. The airline has ordered 60 the new 777x jets, according to data on Boeing’s website. Reporting by Hadeeel Al Sayegh Writing by Alexander Cornwell; Editing by Mark Potter

https://uk.reuters.com/article/uk-qatar-airways-airbus-a350/qatar-airways-first-airbus-a350-1000-to-be-delivered-feb-15-20-ceo-idUKKBN1FG0GH

No ex-divs on the FTSE 100 on Jan 25

January 22, 2018 / 10:52 AM / Updated 9 minutes ago No ex-divs on the FTSE 100 on Jan 25 Reuters Staff 2 Min Read Jan 22 (Reuters) - No FTSE 100 companies will go ex-dividend on Thursday, although several mid-caps will go ex-div, after which investors will no longer qualify for the latest dividend payout. Among FTSE 250 companies going ex-dividend are: COMPANY (RIC) DIVIDEND (pence) Bankers 4.8 Investment Trust City of London 4.3 Investment Trust Fenner 2.8 GCP 1.9 Infrastructure Investments Limited Pennon Group 11.97 Sequoia 1.5 Economic Infrastructure Income Fund Stagecoach 3.8 Group (Reporting by Danilo Masoni, Editing by Helen Reid)

https://www.reuters.com/article/britain-stocks-exdiv/no-ex-divs-on-the-ftse-100-on-jan-25-idUSL8N1PH2O9

U.S. transit chief to unveil revised self-driving car guidelines

January 14, 2018 / 6:30 PM / Updated 3 hours ago U.S. transit chief to unveil revised self-driving car guidelines Reuters Staff 1 Min Read DETROIT, Jan 14 (Reuters) - The Trump administration plans to unveil revised self-driving car guidelines this summer as the government works to rewrite regulations that pose legal barriers to robot vehicles, U.S. Transportation Secretary Elaine Chao said on Sunday. Chao said the revised guidelines would address not only self-driving automobiles but also “barriers to the safe integration of autonomous technology for motor carriers, transit, trucks, infrastructure and other modes.” General Motors Co, Alphabet Inc and many other companies are aggressively pursuing self-driving car technologies and want Congress and regulators to remove barriers to the vehicles. (Reporting by David Shepardson; Editing by Lisa Von Ahn)

https://www.reuters.com/article/autoshow-detroit-chao/u-s-transit-chief-to-unveil-revised-self-driving-car-guidelines-idUSL1N1P90BA

Atletico hope for success with Costa's return

Atletico hope for success with Costa's return Sunday, December 31, 2017 - 01:10 Fri, 29 Dec, 2017 - (1:06) Featured Videos Thu, 23 Nov, 2017 - (2:18) Follow Reuters: Reuters Plus | Reuters News Agency | Brand Attribution Guidelines | Careers Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

https://uk.reuters.com/video/2017/12/31/atletico-hope-for-success-with-costas-re?videoId=377451097

Hexcel Declares Quarterly Dividend

STAMFORD, Conn., Hexcel Corporation (NYSE:HXL) today announced that the Company’s Board of Directors has declared a regular quarterly cash dividend of $0.125 per share on the common stock of Hexcel, payable on February 13, 2018 to stockholders of record as of February 6, 2018. Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures, used in commercial aerospace, space and defense and industrial applications. Learn more at www.Hexcel.com . Contact Information Kurt Goddard, Vice President – Investor Relations (203) 352-6826 Kurt.Goddard@Hexcel.com Source:Hexcel Corporation

http://www.cnbc.com/2018/01/24/globe-newswire-hexcel-declares-quarterly-dividend.html

SE Asia Stocks-Singapore hits near 3-wk high on growth data

January 2, 2018 / 10:11 AM / Updated an hour ago SE Asia Stocks-Singapore hits near 3-wk high on growth data Reuters Staff 3 Min Read By Aditya Soni Jan 2 (Reuters) - Singapore shares climbed nearly 1 percent on Tuesday, buoyed by data showing the city-state's economy grew last year at its fastest pace since 2014, while Indonesia reversed course to end lower after touching a record high. The Singapore index closed at its highest since Dec. 14, with financials leading the gainers. Index heavyweight DBS Group Holdings Ltd was up 1.4 percent, while Oversea-Chinese Banking Corp Ltd rose 0.8 percent. "Today's data affirm that the recovery is broadening out," said Irvin Seah, an economist at DBS Bank. "The services sector is likely to take over from the manufacturing sector as the main engine of growth in 2018." Although advance estimates showed Singapore's economic growth slowing in the fourth quarter as factories lost steam, a services sector recovery has bolstered expectations the central bank could tighten monetary policy as early as April. The affluent-state's full-year growth came in at the top end of the government's official 3.0-3.5 percent forecast range, its fastest expansion in three years. In Indonesia, shares closed down 0.3 percent, dragged down by financials and stocks of telecommunication services providers. It hit a record high earlier in the session. Bank Mandiri lost 1.9 percent, while clove cigarettes maker Gudang Garam fell 2.7 percent. Malaysia snapped three consecutive sessions of gains, led by consumer staples and telecommunication services. "This is most likely the reaction towards strong share prices in the previous (trading) days," said Jolynn Kek, investment manager at Aberdeen Asset Management. "It's only the first day of trading for the year, so it's hard to say (if) it's indicative of a longer term trend." Sime Darby Plantation Bhd slumped 8.5 percent, while Malayan Banking Bhd slipped 1.4 percent. Vietnam shares rose for a seventh straight session to end at their highest since November 2007, with financial stocks leading. BIDV climbed to a more than two-year high, while VPBank hit a record high. Stock markets in Thailand and the Philippines were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous close Pct Move Singapore 3430.3 3402.92 0.80 Jakarta 6339.238 6355.654 -0.26 Kuala Lumpur 1782.7 1796.81 -0.79 Ho Chi Minh 995.77 984.24 1.17 Change on year Market Current End 2017 Pct Move Singapore 3430.3 3402.92 0.80 Jakarta 6339.238 6,355.65 -0.26 Kuala Lumpur 1782.7 1796.81 -0.79 Ho Chi Minh 995.77 984.24 1.17 (Reporting by Aditya Soni in Bengaluru; Additional reporting by Liz Lee from Kuala Lumpur; Editing by Biju Dwarakanath)

https://www.reuters.com/article/southeast-asia-stocks/se-asia-stocks-singapore-hits-near-3-wk-high-on-growth-data-idUSL4N1OX1J5

UPDATE 1-Italian unions call for Ryanair strike on February 10

(Adds comment from Uiltrasporti union) ROME, Jan 11 (Reuters) - Three Italian unions representing cabin crews, pilots and ground crews called for its members to strike on February 10 to protest against Ryanair’s plans to negotiate labour issues exclusively with one union. Ryanair has said it would negotiate with Anpac, the main pilots’ association in Italy, but not other unions representing cabin crews, ground crews and pilots who are not members of Anpac. “There must be an immediate discussion about salaries and safeguards for all of the workers, and not just a portion of them,” the Filt Cgil, Fit Cisl and Uiltrasporti unions said in a statement sent by email. “It is unacceptable that the company is choosing which unions it speaks with, in total disregard of the most elementary principle that is part of our legal system that says workers can choose freely who they want to represent them,” the statement said. A Ryanair spokeswoman said the company met with the Italian unions in Rome on Tuesday and the discussions would continue. “We will not comment further on these discussions,” she said. One of the union leaders backing the strike, Claudio Tarlazzi of Uiltrasporti, said he had not met with the company this week and Ryanair’s response was “a distortion of reality”. “Until we are recognised, we will fight to safeguard the Ryanair workers, and to defend one’s freedom to join a union,” Tarlazzi said in a statement on Thursday. The Irish budget airline in December said it would recognise pilot unions for the first time in its 32-year history. Ryanair pilots in several countries mobilised after the company announced in September the cancellation of around 20,000 flights, which it blamed on a lack of standby pilots. It blamed rostering problems following a rule change by Irish regulators. Pilot groups have complained of a toxic work atmosphere and said Ryanair is facing a major staffing shortage. Management has repeatedly denied this and says it offers some of the best pay and conditions in the sector. (Reporting by Alberto Sisto, additional reporting by Padraic Halpin in Dublin; writing by Steve Scherer; editing by Elaine Hardcastle) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/ryanair-italy-strike/update-1-italian-unions-call-for-ryanair-strike-on-february-10-idUSL8N1P64Y2

GLOBAL MARKETS-Asian shares step back from New Year rally as trade concerns resurface

LONDON (Reuters) - The euro and bond market borrowing costs jumped on Thursday, as the European Central Bank signaled its 2.5 trillion euro stimulus program could be wound down relatively swiftly this year. Worries about a U.S.-led trade war and a move from China that poured cold water on a report that it might stop buying U.S. debt had been driving bond and FX markets in the opposite direction until the ECB broke cover and turned the herd. A message that it could soon revisit the guidance it has carefully kept open on its mass money printing scheme was enough to send the euro jetting back above $1.20 and German Bund yields up five basis points following a morning dip. Wall Street futures pointed to a modest rise after New York had suffered its first down day of the year on Wednesday. Europe’s main bourses though continued to slip in and out of the red [.EU] after Asian and emerging markets had had weak sessions following warnings from both Canada and Mexico that NAFTA’s days could be numbered. “This seems consistent with the ECB starting to flag an exit from QE later this year the same way the Fed did six months before it ended it asset purchases,” said Mark Dowding co-head of investment grade credit at Bluebay asset management. The ECB’s warning shot also helped reverse the overnight bounce by U.S. government bonds after China’s regulator said a Bloomberg report on Wednesday that it was considering slowing or halting its U.S. bond purchases, was possibly “fake news”. The euro surge meant a sudden end too for what had looked like being the dollar’s fourth gain in the last five days [/FRX] having suffered one of its worst years on record in 2017. Against the yen it was left clinging on 111.45, after hitting a six-week low of 111.27 yen in the previous session when it skidded 1.1 percent - its largest decline in almost eight months. “The 2.5 percent level on the Treasury is a line in the sand so U.S. CPI (consumer price inflation) data tomorrow is going to be absolutely critical (for the dollar),” Saxo Bank’s head of FX strategy John Hardy said, talking about the view that higher inflation will encourage more U.S. interest rate hikes. Ahead of that, U.S. producer prices fell for the first time in nearly 1-1/2 years in December, data on Thursday showed, amid declining costs for services. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville U.S. 10-year Treasury yields - which move inverse to prices and are one of the main drivers of global borrowing costs - ricocheted between 2.45 and 2.55 percent from Wednesday’s 10-month high of 2.597 percent. There was also some relief from Japan, another source of pain for bond markets this week. The Bank of Japan (BOJ) maintained the amount of its bond purchases on Thursday. A cut in its buying of longer-dated debt earlier this week had fanned worries the BOJ may be moving to turn off its stimulus. BATTERED BITCOIN Pedestrians walk past an electronic board displaying the Nikkei average outside a brokerage in Tokyo, Japan January 4, 2018. REUTERS/Kim Kyung-Hoon Bitcoin had taken a major beating overnight, falling as much as 11 percent as South Korea - one of the cryptocurrency’s biggest markets - said it was drawing up laws to ban trading in it. Canada’s dollar and Mexico’s peso remained firmly in the doldrums too, due to worries about the North American Free Trade Agreement which the two countries hold with the United States. Sources in Canada’s government told Reuters on Wednesday that they were increasingly convinced Donald Trump could announce he is quitting the pact. Sources in Mexico then said it would also abandon ship if the U.S. did so. Commodity markets meanwhile were taking something of a breather after a flying start to the year. Both Brent and U.S. West Texas Intermediate (WTI) oil price futures were hovering just off three-year highs at just under $70 and $64 a barrel, while gold ticked over at $1,320 an ounce after spiking to nearly four-month highs. [GOL/] “In Q1, the balance of risk to Brent lies to the downside, with prices overheating, record net-length built into the futures market and fundamentals set to weaken seasonally,” BMI Research said in a note. Meanwhile, the NAFTA worries and nerves that China could be a target of Donald Trump’s ‘State of the Union’ address later this month sent emerging market stocks down for a third day. running. Currencies were more of a mixture. South Africa’s rand fell for a second day after the new leadership of the ruling ANC said it did not discuss removing President Jacob Zuma from power, while the Thai baht hit a 3-1/2 year high. Additional reporting by Henning Gloystein; Editing by Elaine Hardcastle, William Maclean

https://www.reuters.com/article/us-global-markets/asian-shares-step-back-from-new-year-rally-as-trade-concerns-resurface-idUSKBN1F003G

Novartis breast cancer therapy gets FDA breakthrough designation

ZURICH (Reuters) - Novartis’s Kisqali (ribociclib) has won U.S. Food and Drug Administration breakthrough therapy designation for treating some breast cancer patients, the Swiss drugmaker said on Wednesday. Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann The designation covers initial endocrine-based treatment of pre- or perimenopausal women with hormone-receptor positive, human epidermal growth factor receptor-2 negative (HR+/HER2-) advanced or metastatic breast cancer in combination with tamoxifen or an aromatase inhibitor. It was based on results released last month from a Phase III MONALEESA-7 trial demonstrating Kisqali in combination with tamoxifen or an aromatase inhibitor significantly prolonged progression-free survival compared to endocrine therapy alone. Reporting by Michael Shields; Editing by Maria Sheahan

https://in.reuters.com/article/us-novartis-kisqali/novartis-breast-cancer-therapy-gets-fda-breakthrough-designation-idINKBN1ES0AZ

Snowboarding: White sees himself as favorite in Pyeongchang

MAMMOTH MOUNTAIN, Calif (Reuters) - After recovering from a training crash which left him needing 62 stitches, American snowboarder Shaun White is backing himself to win the halfpipe gold in Pyeongchang next month even though he will be facing off against rivals who grew up idolizing him. White, 31, burst onto the scene at the 2006 Turin Games where he won the first of his two Olympic golds, becoming the face of the sport globally. But he faltered in Sochi in 2014, finishing a disappointing fourth in halfpipe, and last October he needed more than five dozen stitches after crashing in training. Those missteps, along with some recent flashes of dominance, have made it difficult to rate his chances going into the Games in South Korea. “I would love to feel like an underdog but I just don‘t,” White told a press conference at the U.S. Grand Prix in Mammoth. “Ever since I can remember I’ve been expected to do well not only from the media and fans but even more so from myself. So I‘m going in to hopefully do my best.” Among those primed for a breakthrough in Pyeongchang are 23-year-old Australian Scotty James, who won a gold medal in Aspen at the 2017 Winter X Games, and 23-year-old Ben Ferguson, who qualified for the U.S. Olympic team before White. White, however, has reason for optimism after scoring a perfect 100 to win at the U.S. Grand Prix in Snowmass, Colorado last weekend to punch his ticket to Pyeongchang, a run he considers a career highlight. “Getting that 100 was just awesome. I felt like I was on the right track and all this hard work I put in over the holidays was paying off,” he said. “It started out as a rough competition and toward the end I looked at the coaches at the top and they said, ‘Just do the hard stuff, that’s what you have been working on the most’.” Heading into his fourth and possibly last Olympics, the San Diego native has the advantage of experience over the field. But reflecting on his career, he said his devotion to the sport has not come without its sacrifices. “You get to these goals in life and it’s not always what it seems. There’s two sides of the coin in everything,” he said. “You can be the Olympic champion but you sacrifice things along the way.” “Sitting here today I am a happier person and more comfortable with who I am and what I’ve accomplished and what I intend to accomplish than ever before.” Reporting by Rory Carroll, editing by Pritha Sarkar

https://www.reuters.com/article/us-olympics-2018-sno-white/snowboarding-white-sees-himself-as-favorite-in-pyeongchang-idUSKBN1FA142

Peru's economy grew 1.78 pct in November yr/yr

Jan 15 (Reuters) - Peru’s economy grew by 1.78 percent in November from the same month a year earlier thanks to a surge in foreign demand for the country’s mineral exports, state statistics agency Inei said on Monday. A Reuters poll had forecast a 2.55 percent year-over-year expansion. In the first 11 months of the year, Peru’s economy grew by 2.38 percent, Inei said. On Friday, the central bank said it expected that the Andean country’s economy grew slightly below 2.7 percent in 2017. Export activity grew 12.7 percent in November, driven primarily by greater demand for copper, zinc and gold. Mining activity grew 5 percent, driven by increases in zinc, lead and copper output. Peru is the world’s No. 2 exporter of the red metal. Strong mining activity was partly offset by a sharp 45.6 percent decline in the fishing sector and a 6.6 percent decline in manufacturing output. (Reporting by Luc Cohen; Editing by Peter Cooney)

https://www.reuters.com/article/peru-economy/perus-economy-grew-1-78-pct-in-november-yr-yr-idUSS0N1IH00C

Hawaii says lack of adequate fail-safe measures led to false missile alert

January 15, 2018 / 12:58 AM / Updated 4 hours ago Hawaii says lack of adequate fail-safe measures led to false missile alert Jolyn Rosa 5 Min Read HONOLULU (Reuters) - Human error and a lack of adequate fail-safe measures during a civil defence warning drill led to the false missile alert that stirred panic across Hawaii over the weekend, a state emergency management agency spokesman acknowledged on Sunday. A combination photograph shows screenshots from a cell phone displaying an alert for a ballistic missile launch and the subsequent false alarm message in Hawaii January 13, 2018. REUTERS/Hugh Gentry Elaborating on the origins of Saturday’s false alarm, which went uncorrected for nearly 40 minutes, spokesman Richard Rapoza said the employee who mistakenly sent the missile alert “has been temporarily reassigned” to other duties. Rapoza said an internal investigation of the blunder would be completed by week’s end and that the Hawaii Emergency Management Agency welcomed outside review by the Federal Communications Commission, which has jurisdiction over wireless U.S. alert systems. Rapoza also said that no further drills of the emergency alert system would be conducted until new measures were put in place to reduce the chance of future false alarms and to swiftly withdraw any warnings sent in error. FCC Chairman Ajit Pai said on Sunday that the agency’s probe of the incident so far suggested “reasonable safeguards or process controls” were lacking, a point that Rapoza said officials at the Hawaii Emergency Management Agency did not dispute. The error occurred when, in the midst of a drill during a shift change at the agency, an employee made the wrong selection from a “drop-down” computer menu, choosing to activate a missile launch warning instead of the option for generating an internal test alert, Rapoza said. The employee, believing the correct selection had been made, then went ahead and clicked “yes” when the system’s computer prompt asked whether to proceed, Rapoza said. Governor David Ige initially said on Saturday that “an employee pushed the wrong button.” The resulting message, issued amid heightened international strains over North Korea’s development of ballistic nuclear weapons, stated: “EMERGENCY ALERT BALLISTIC MISSILE THREAT INBOUND TO HAWAII. SEEK IMMEDIATE SHELTER. THIS IS NOT A DRILL.” ‘NOT MAKING ANY EXCUSES’ It was transmitted to mobile phones and broadcast on television and radio across the Pacific island state shortly after 8 a.m. on Saturday, and took 38 minutes to be retracted by an official all-clear message. A screenshot from a cell phone displays a false alarm message after an alert for a ballistic missile launch in Hawaii January 13, 2018. REUTERS/Hugh Gentry The mistake unleashed hysteria and confusion across the state, home to some 1.4 million people and a heavy concentration of U.S. military command structure. Civil defence officials have said that in the event of a real missile attack from North Korea, people in Hawaii would have only about 12 minutes to find shelter. In November, Hawaii said it would resume monthly statewide testing of Cold War-era nuclear attack warning sirens for the first time in at least a quarter of a century, in preparation for a possible missile strike from North Korea. A screen capture from a Twitter account showing a missile warning for Hawaii, U.S., January 13, 2018 in this picture obtained from social media. Courtesy of TWITTER @valeriebeyers/via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES Ige, who said he was “angry and disappointed” by Saturday’s incident, said some sirens went off after the false alarm. To prevent a repeat, the Emergency Management Agency will now require two employees to activate the alert system - one to issue the warning and another to confirm it. The agency also has incorporated a way of issuing an immediate false-alarm notice in the event of an error. “That’s something we were lacking yesterday,” Rapoza told Reuters by telephone. “Our focus was on getting the message out quickly, and not enough attention was paid to what happens if there’s a mistake. And frankly, that was a failure of planning on our part. We’re not making any excuses for it.” U.S. President Donald Trump weighed in on Sunday during a visit to Florida and gave Hawaii state officials credit for admitting their mistake, saying: “I loved that they took responsibility.” He added: “But we’re going to get involved,” an apparent reference to the FCC’s review of the incident. Trump, whose public war of words with North Korean leader Kim Jong Un, including a tweet boasting that he had a “much bigger” nuclear button than Kim, has widely been seen as stoking tensions, added: “But maybe eventually we’ll solve the problem” so people in Hawaii “don’t have to be so on edge.” Criticism of the state emergency management agency from other quarters was swift. Lee Cataluna, a columnist for the state’s largest newspaper, the Honolulu Star-Advertiser, wrote in an opinion piece published on Sunday: “It’s the time for outrage. Somebody needs to get fired.” Additional reporting by Steve Gorman in Los Angeles, David Shephardson in Detroit and Steve Holland in West Palm Beach, Fla.; Writing by Steve Gorman; Editing by Peter Cooney

https://uk.reuters.com/article/uk-usa-missiles-falsealarm/hawaii-says-lack-of-adequate-fail-safe-measures-led-to-false-missile-alert-idUKKBN1F4038

US probing Apple over updates that slow older phones: Bloomberg report

The Justice Department and SEC is requesting documents from Apple related to the company's decision to slow down older iPhones, Bloomberg reported Tuesday. The news agency said any possible investigation is still in "early stages." Apple's stock, which was already trading lower on Tuesday, was down 1.4 percent in the afternoon. Apple was criticized recently when users discovered that iPhone 6, iPhone 6s and iPhone 6s Plus units were purposefully being slowed down by the company. Apple said it made the decision to throttle the iPhone speeds in an effort to preserve aging batteries and to prevent the phones from turning off. Apple responded by dropping the price of battery replacements for phones from $79 to $29 . A battery replacement would bring the phone back up to its full speed potential. The company has since apologized and says an update coming this spring, iOS 11.3 , will allow users to turn off the speed-throttling function at the cost of battery life. Apple was not immediately available for comment. The SEC declined to comment. The Justice Department was not immediately available for comment. Todd Haselton Technology Product Editor Related Securities

https://www.cnbc.com/2018/01/30/us-probing-apple-over-updates-that-slow-older-phones-bloomberg-report.html

Asia stocks near record highs after Wall St. surge, dollar edges back

January 18, 2018 / 1:02 AM / Updated 5 minutes ago Global stocks pause after rally; U.S. bond yields hit 10-month high Chuck Mikolajczak 4 Min Read NEW YORK (Reuters) - A gauge of world stock markets slipped on Thursday, pausing after notching a run of record highs, as a decline in Boeing and interest-rate sensitive sectors such as utilities and real estate weighed on U.S. equities. Shares on Wall Street took a breather after the strongest performance of the year for the Dow Jones Industrial Average and the benchmark S&P 500 saw the indexes close above 26,000 and 2,800, respectively, for the first time on Wednesday. Equities were held in check by a 3.09 percent drop in aerospace company Boeing ( BA.N ), the best performing Dow component so far the year. Utilities .SPLRCU, down 0.62 percent and real estate .SPLRCR, off 0.98 percent, also came under pressure as yields on the 10-year U.S. Treasury note touched a 10-month high. “Maybe it takes a breather for a couple of days but I don’t see a big selloff,” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management in Chicago. “When we get through earnings season and the market starts talking more macro, we are going to hit a problem, just because we are overbought.” Shares in Morgan Stanley ( MS.N ) advanced 0.89 percent after it reported an adjusted quarterly profit that topped Wall Street estimates. Investors have looked to an improving global economy and the onset of the U.S. corporate earnings season in the recent run higher. Earnings growth for the quarter is forecast at 12.3 percent, according to Thomson Reuters data through Thursday morning. The Dow Jones Industrial Average .DJI fell 97.84 points, or 0.37 percent, to end at 26,017.81, the S&P 500 .SPX lost 4.53 points, or 0.16 percent, to 2,798.03 and the Nasdaq Composite .IXIC dropped 2.23 points, or 0.03 percent, to 7,296.05. People are reflected in a display showing the Nikkei average (top in L) and the NASDAQ average of the U.S outside a brokerage in Tokyo, Japan, November 7, 2016. REUTERS/Kim Kyung-Hoon - S1AEULJVTGAA European shares closed modestly higher, led by a rise in cyclical stocks. The pan-European FTSEurofirst 300 index .FTEU3 rose 0.21 percent and MSCI's gauge of stocks across the globe .MIWD PUS shed 0.06 percent. Yields on 10-year Treasury notes reached a 10-month high after China reported fourth-quarter growth that accelerated for the first time in seven years. The benchmark notes US10YT=RR were last down 11/32 in price to yield 2.6163 percent, from 2.578 percent late on Wednesday. The data drove European counterparts higher as well, with Germany’s 10-year bond yield DE10YT=RR hitting a six-month top at 0.595 percent. The U.S. dollar fell as traders piled into the euro, yen JPY= , sterling GBP= and other major currencies amid worries over a possible U.S. government shutdown as lawmakers struggled to cobble together a federal budget deal. The trade-weighted dollar index =USD was last down 0.45 percent with the euro EUR= up 0.45 percent to $1.2239. Congressional Republicans struggled to line up support on Thursday for a short-term extension of government funding that would avert a politically embarrassing shutdown, after President Donald Trump offered mixed signals on the stopgap plan. Oil prices recovered from early losses after a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub. U.S. crude CLcv1 settled at $63.95 per barrel, down 2 cents, and Brent LCOcv1 settled at $69.31, down 7 cents. Editing by Bernadette Baum and James Dalgleish

https://www.reuters.com/article/us-global-markets/asia-stocks-near-record-highs-after-wall-st-surge-dollar-edges-back-idUSKBN1F704A

Sopra Steria Plans to Acquire German Firm BLUECARAT

PARIS--(BUSINESS WIRE)-- Regulatory News: Sopra Steria (Paris:SOP), a European leader in digital transformation, today announced its plans to acquire BLUECARAT, a German IT services company. Sopra Steria plans to acquire 100% of the share capital of BLUECARAT, a German firm providing strategic IT Consulting, Agility (including its Scrumcadamy 1 ), Cyber/IT Security and API Management. This proposed acquisition would strengthen Sopra Steria’s position in the German market and provide the local subsidiary further growth opportunities and access to major strategic accounts. Founded in 2001, BLUECARAT enjoys strong credibility among the clients in its concentrated portfolio, which includes leading manufacturers, financial services companies and public sector entities. With organic growth above 25%, BLUECARAT generated estimated revenue of about €33 million in 2017. If the acquisition is completed, the tie-up between BLUECARAT and Sopra Steria would help generate substantial commercial and cost synergies. Sopra Steria, whose German subsidiary posted revenue of over €240 million for financial year 2016 and cemented its recovery by posting an operating performance in line with the Group’s standards for the first half of 2017 (operating margin on business activity above 8%) has very ambitious medium-term targets for the German market. The acquisition of BLUECARAT would thus help speed up the group’s development in Germany. The proposed acquisition is subject to customary closing conditions. If it is completed successfully, BLUECARAT would be consolidated by Sopra Steria in the second half of 2018. About Sopra Steria Sopra Steria, a European leader in digital transformation, provides one of the most complete portfolios of end-to-end service offers on the market: consulting, systems integration, business line software development, infrastructure management and business process services. Sopra Steria thereby provides leading businesses and organisations with comprehensive solutions for their growth and competitiveness. By combining added value, innovation and high-quality services, Sopra Steria supports its clients in making the best use of digital technology as they move forward. With over 40,000 employees in more than 20 countries, Sopra Steria generated revenue of €3.7 billion in 2016. Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR 50809 For more information, please visit our website: www.soprasteria.com 1 Scrum: agile methodology used for project development View source version on businesswire.com : http://www.businesswire.com/news/home/20180107005025/en/ Investor Relations: Sopra Steria Olivier Psaume, +33 (0)1 40 67 68 16 olivier.psaume@soprasteria.com or Press Relations: Image 7 Simon Zaks, +33 (0)1 53 70 74 63 szaks@image7.fr Source: Sopra Steria

http://www.cnbc.com/2018/01/08/business-wire-sopra-steria-plans-to-acquire-german-firm-bluecarat.html

Bridgepoint Education Schedules Fourth Quarter and Full Year 2017 Earnings Conference Call for February 21, 2018

SAN DIEGO, Jan. 30, 2018 /PRNewswire/ -- Bridgepoint Education (NYSE: BPI) will release its fourth quarter and full year 2017 financial results after market close on Wednesday, February 21, 2018. The Company will host a conference call and webcast for investors and analysts to discuss these results at 5:00 p.m. (Eastern Time) / 2:00 p.m. (Pacific Time) the same day. Call participants should dial 866-859-7412 (United States/Canada) or 832-900-4623 (other countries) and request the Bridgepoint Education call or provide the conference ID 8098438. A live broadcast of the call will also be available at http://ir.bridgepointeducation.com and will be archived on the site for one year. A telephonic replay will be available at 855-859-2056 (United States/Canada) or 404-537-3406 (other countries), passcode 8098438. The replay will be available from February 21, 2018, at 8:00 p.m. (Eastern Time) until March 23, 2018, at 11:59 p.m. (Eastern Time). About Bridgepoint Education Bridgepoint Education , Inc. (NYSE:BPI) harnesses the latest technology to reimagine the modern student experience. Bridgepoint owns two academic institutions – Ashford University and University of the Rockies. Together, these programs, technologies, and resources represent a unique model for advancing education in the 21 st century. Bridgepoint stands for greater access, social learning, and exposure to leading minds. For more information about Bridgepoint Education, call Anna Davison, Investor Relations at 866-475-0317 x11620. Contact: Anna Davison, Investor Relations 866.475.0317 x11620 investorrelations@bridgepointeducation.com View original content with multimedia: http://www.prnewswire.com/news-releases/bridgepoint-education-schedules-fourth-quarter-and-full-year-2017-earnings-conference-call-for-february-21-2018-300589890.html SOURCE Bridgepoint Education

http://www.cnbc.com/2018/01/30/pr-newswire-bridgepoint-education-schedules-fourth-quarter-and-full-year-2017-earnings-conference-call-for-february-21-2018.html

ACS/Hochtief consortium picked for L.A. airport rail project

January 27, 2018 / 10:16 AM / in 9 hours ACS/Hochtief consortium picked for L.A. airport rail project Reuters Staff 2 Min Read FRANKFURT (Reuters) - A consortium including ACS ( ACS.MC ) and its German builder Hochtief ( HOTG.DE ) has been named as the recommended developer for a $1.95 billion rail project at Los Angeles International Airport, Hochtief said on Saturday. The public-private partnership (PPP) rail project includes planning, financing, construction, and 25-year operation of an automated above-ground transport system connecting parking lots, hire car points and metro light rail stations with the airline terminals at the second-biggest airport in the United States. The consortium comprises ACS Infrastructure Development, ACS’s Dragados USA, HOCHTIEF PPP Solutions, Hochtief’s Flatiron, Fluor ( FLR.N ), Balfour Beatty ( BALF.L ) and Bombardier ( BBDb.TO ). ACS Infrastructure Development and HOCHTIEF PPP Solutions each have an 18 percent stake in the consortium. The project includes the delivery of 44 Bombardier trains. Construction is expected to be completed by early 2023, Hochtief said. Reporting by Maria Sheahan; Editing by Mark Potter

https://www.reuters.com/article/us-acs-es-contract-los-angeles/acs-hochtief-consortium-picked-for-l-a-airport-rail-project-idUSKBN1FG0BC

Union at Chile Lomas Bayas mine far from deal with Glencore

SANTIAGO (Reuters) - Unionized workers at Glencore Plc’s ( GLEN.L ) Lomas Bayas copper mine in Chile rejected a final contract offer and began government-facilitated mediation on Thursday to avoid a strike, the union said, adding that they were still far from agreement. Union president Pedro Valdivia said workers agreed to lay down tools on Jan. 10 if no agreement was reached during the mediation. New labor laws and rising copper prices have emboldened miners throughout Chile, the world’s top producer of the red metal. “The atmosphere is tense. For now, we’re far from reaching a deal,” Valdivia said in an interview. Glencore did not immediately respond to a request for comment. A 105-member union at Teck Resources Ltd’s ( TECKb.TO ) Quebrada Blanca mine walked off the job for a week last month. In late November, workers at BHP’s ( BHP.AX ) Escondida mine, the world’s largest, also put down their tools for 24-hours following layoffs there. Chile’s National Mining Society (Sonami) has said more than 30 pending negotiations over expiring workers’ contracts in 2018 could curb output if strikes continue to hit the sector. Lomas Bayas produced 67,000 tonnes of copper between January and October of 2017. Reporting by Antonio De la Jara, writing by Dave Sherwood; Editing by Andrew Hay

https://www.reuters.com/article/us-chile-copper-strike/union-at-chiles-lomas-bayas-mine-says-far-from-agreement-with-glencore-idUSKBN1ET1J3

Matthews™ Announces $8.9 Million Sale of Smart & Final Extra! in Colton, CA

Foreign Capital Continues to Invest in Sought After Southern California Commercial Real Estate LOS ANGELES--(BUSINESS WIRE)-- Matthews Real Estate Investment Services™ has announced the $8.9 million sale of a newly constructed 27,800 square foot freestanding Smart & Final Extra!. The asset, sold by Evergreen Devco Inc. , a national retail and multifamily development company with offices in Phoenix, Los Angeles, Denver, and Salt Lake City, is located at the signalized corner of North Mt. Vernon Avenue and Colton Avenue in Colton, California. At approximately $320 per square foot, Smart & Final Extra! closed with market-leading pricing for the Colton submarket, at a 5.50% cap rate. The transaction was led by Lindsay Tsumpes , AVP and Director, and El Warner , National Director of the Matthews™ Shopping Center Division. The seller, Evergreen Devco Inc. , was able to navigate both the entitlement and construction process and leverage their relationship with the tenant to produce a development that led to the strong results and high price point Matthews™ achieved. Matthews™ utilized their leading-edge technology to play an instrumental role in the process. “We were pleased to be able to work with Matthews and collaborate on a challenging, international sale transaction. Together we made a great team,” said Doug Leventhal , Evergreen’s Chief Operating Officer. “We leveraged our platform’s proprietary marketing database which allowed us to run an expansive marketing campaign, fully exposing the asset to both domestic and foreign buyers,” said El Warner . “The high visibility and heightened interest drove strong competition and pricing for the asset, ultimately connecting us with a foreign investor,” added Tsumpes . The sale marks the first U.S. commercial investment for the buyer, a well-established and respected developer from Shanghai, China. The Matthews™ Shopping Center Division is extremely well versed in navigating and coordinating the complicated escrow and loan process across borders, with approximately half of their listings being sold to foreign investors. “Our understanding of the intricate process assures our client's comfortability. The buyer was extremely pleased with the outcome which allowed him to achieve the security and passive cash flow provided by a daily needs tenant in Southern California,” said Tsumpes . The Matthews™ Shopping Center Division prides themselves on their unwavering commitment to serving their client’s best interest. With their competitive marketing technology and expansive global database, the division has earned a reputation for excellence in execution. In California, they are currently selling two other Smart & Finals , an Albertson’s anchored shopping canter , and an off-market Albertson’s. For more information regarding available shopping center inventory , please reach out to El Warner or Lindsay Tsumpes . MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in shopping center, STNL, Multifamily, Management, portfolio disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM. View source version on businesswire.com : http://www.businesswire.com/news/home/20180105005081/en/ Matthews Real Estate Investment Services Cat Ray (310) 955-1776 CAT.RAY@MATTHEWS.COM or Hana Cookson (310) 955-1780 HANA.COOKSON@MATTHEWS.COM Source: Matthews Real Estate Investment Services

http://www.cnbc.com/2018/01/05/business-wire-matthewsa-announces-8-point-9-million-sale-of-smart-final-extra-in-colton-ca.html

UPDATE 1-Argentina fiscal deficit falls to 3.9 percent of GDP in 2017

(Adds Quote: from Treasury Minister, 2018 goals) BUENOS AIRES, Jan 17 (Reuters) - Argentina posted a primary fiscal deficit worth 3.9 percent of gross domestic product (GDP) in 2017, below its 4.2 percent goal and the 4.6 percent figure posted in 2016, Treasury Minister Nicolas Dujovne told reporters on Wednesday. Dujovne said the government’s 2018 target for a primary fiscal deficit remained at 3.2 percent of GDP, with targets of deficits worth 0.6 percent in the first quarter, 1.6 percent in the second quarter and 2.2 percent in the third quarter. Since taking office in December 2015, business-friendly President Mauricio Macri has sought to reduce the wide fiscal deficit he inherited from former populist President Cristina Fernandez, whose two terms in office were marked by increases in subsidies and social spending. “At the beginning of the year many analysts thought we were not going to meet our goal, but working carefully we were able to do it,” Dujovne said. Spending rose 21.8 percent in 2017, below the 24.8 percent inflation rate. The administration’s has slashed spending on subsidies for utilities and transportation, helping lower the deficit but contributing to inflation, which ended the year well above the central bank’s target for 12-17 percent. Government revenue rose 22.6 percent, as an economic expansion boosted tax revenue. The South American country’s 2018 budget bill had changed the estimated 2017 primary fiscal deficit, which does not include debt service payments, to 4.0 percent. In the month of December, Argentina posted a primary deficit of 119.607 billion Argentine pesos ($6.35 billion), Dujovne said. The total financial deficit rose 32 percent to 629.1 billion pesos ($33.37 billion) for full-year 2017 on the back of a 71 percent increase in interest payments. ($1 = 18.8500 Argentine pesos) (Reporting by Luc Cohen and Maximiliano Rizzi; Editing by Susan Thomas and Grant McCool)

https://www.reuters.com/article/argentina-fiscal/update-1-argentina-fiscal-deficit-falls-to-3-9-percent-of-gdp-in-2017-idUSL1N1PC1LQ

Factbox - Thomson Reuters: the history and purpose of the 'Trust Principles'

(Reuters) - Thomson Reuters Corp has operated under the Trust Principles established by Reuters since the Thomson Corp purchase of Reuters Group in 2008. This is a guide to the history and purpose of the Trust Principles Q: When were the Trust Principles established? A: The five Trust Principles were set in 1941, in the midst of World War Two and at a time when there were threats of censorship and “propaganda” around the world. They were formed under an agreement between the UK Newspaper Publishers Association and the shareholders of Reuters at the time. The core principle is that “Reuters is dedicated to preserving its independence, integrity and freedom from bias in the gathering and dissemination of news and information.” Q: What are the five Trust Principles? A: The five principles are available online at: ( here ) Q: How have the principles been preserved in the decades since they were established ? A: When the Reuters Group Plc became a publicly listed company in 1984, a new company was formed called Reuters Founders Share Co Ltd whose sole purpose was to hold a “Founders Share” in Reuters. If the directors of Reuters Founders Share Co believed that any party was seeking to obtain or had obtained control of Reuters, they could exercise voting rights attached to the Founders Share, allowing them the right to cast sufficient votes at any general meeting of Reuters Group Plc to pass any resolution or defeat any resolution. Q: So when Thomson and Reuters entered into their merger agreement in 2008, did that violate the principle that Reuters Group “shall at no time pass into the hands of any one interest, group, or faction?” A: The Reuters Founders Share Co backed the deal. The directors were given assurances by Thomson and Woodbridge, the Thomson family’s private investment company and controlling shareholder of Thomson Co, that they would uphold the principles. Woodbridge was granted an exemption to the 15 percent shareholding limit set by the Trust Principles. Q: Now there is another change coming to Thomson Reuters, with Blackstone Group LP buying a majority stake in the company’s Financial & Risk business. What will happen to the Trust Principles? A: In announcing the agreement with Blackstone, Jim Smith, the chief executive officer of Thomson Reuters, was very clear about maintaining the Trust Principles. “Reuters News will maintain complete editorial freedom, and continue to operate under the Trust Principles,” Smith said in a statement. “There has never been a more important time for providing trusted news, and that is what Reuters will continue to deliver on with accuracy and integrity,” he added. Reporting by Leslie Adler

https://www.reuters.com/article/us-thomsonreuters-f-r-blackstone-trust/factbox-thomson-reuters-the-history-and-purpose-of-the-trust-principles-idUSKBN1FK08R

If you own bitcoin, Buffett's cryptocurrency predictions are scary. How to cope

Billionaire investor Warren Buffett says cryptocurrencies are headed for trouble. "We'll never have a position in them," Buffett, chairman and CEO of Berkshire Hathaway , told CNBC's "Squawk Box" Wednesday morning. "I can say with almost certainty that they will come to a bad ending." If those ominous words aren't enough to stress investors out, earlier this week, the popular cryptocurrency ripple plunged almost 13 percent and bitcoin shed nearly 8 percent of its value. Owning an asset that's been called both a fraud and the future can be an emotionally intense experience. When bitcoin lost 30 percent of its value on Dec. 22, for example, one post on Reddit read: "I just re-financed my house to get in. I'm freaking out." Another user offered support to the frantic: "If anyone's actually depressed or suicidal, come to r/SuicideWatch . We love to listen and talk there." It's the 24-hour cycle of cryptocurrencies that can wear on people's nerves, said Jim Smigiel, CIO of absolute return strategies at SEI Investments Co. "With other speculative investments, like private equity and venture capital, you can't check your phone every five minutes," he said. With cryptocurrencies, "You're able to track the minute-by-minute value of it." "Looking at something with such high volatility all the time is not conducive to an investor's mental health," Smigiel said. show chapters Iconic investor Warren Buffett on bitcoin, his health and the state of markets 4 Hours Ago | 03:42 Here's how to keep calm on the cryptocurrency roller coaster: Look away Bitcoin's volatility is part of what makes it irresistible , said Willemien Kets, associate professor at the University of Oxford's Department of Economics. "We know from social psychology that the best way to get people hooked on something is to give them a reward on a very uncertain time frame," Kets said. Don't fall into the trap. C hecking the value of cryptocurrencies constantly is unproductive, Kets said. "You can't do anything about the price movement itself," she said. Instead she recommends people decide on a price point at which they'll sell — say, if the asset drops below $10,000 — and set their phone to alert them at that threshold. Andrey Rudakov | Bloomberg | Getty Images An attendee wearing a t-shirt decorated with a bitcoin rocket illustration and the words 'To the Moon' checks his smartphone at the CrytoSpace conference in Moscow, Russia, on Friday, Dec. 8, 2017. Jack Tatar, co-author of "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond," pointed to another reason why constant phone checks are futile. "It's very hard to realize the gains you see on your phone," Tatar said. "These markets are not as liquid as the stocks and bond market. You can check your phone and see you're up to $30,000, but if you wan't to realize that gain, you probably won't be able to do that." That's because it can take days for a cryptocurrency transaction to complete, during which the value can change substantially. Despite his advice, Tatar admitted he, too, can't look away. "My son has tried to tell me to take a few days off," he said. "But I just can't." Buy to hold When people buy and sell in a dizzied cycle, they miss the bigger picture of cryptocurrencies and the blockchain technology on which it's traded, said financial advisor Ric Edelman, founder and executive chairman of Edelman Financial Services. "There's no question that digital currencies are the future," Edelman said. "You should be prepared to own it for years." He said his decision to hold bitcoin for more than a decade has paid off. "I've watched it go from $1 to $1,000, back to $200 and then to $16,000," he said. Although he acknowledged that such ups and downs are intolerable for some people. "If owning this asset is causing you to stare at the ceiling at night, you shouldn't own it," he said. "There's more to life than money." "I've watched it go from $1 to $1000, back to $200 and then to $16,000." -Ric Edelman , financial advisor Peter Ayton, who studies behavioral decision theory at the City University of London, said it's hard to expect people to be rational with cryptocurrencies. Many people who've been seduced by bitcoin are individuals who might not fully understand what they're buying, he said. "When you have something as volatile as bitcoin, it doesn't lend itself to long-term strategic thinking," Ayton said. Diversify beyond bitcoin Michael Sonnenshein, investments director at cryptocurrency firm Grayscale, said people might be less anxious if they're not banking on just one cryptocurrency. Fortunately, you don't have to: There are currently some 2,000 cryptocurrencies to chose from. And more investment firms are looking into establishing index funds for cryptocurrencies. For example, Grayscale is soon launching a "basket of digital currencies," in which investors' money will be spread across five digital currencies. Diversifying is useful for another reason, Edelman said: "It's so early, we don't know which cryptocurrencies will survive." Invest only what you can afford to lose Tatar said people must restrict how much of their investments go to cryptocurrencies. "You're seeing too many people jumping in and betting the ranch, and just saying 'yee-haw!'" he said. "They're not disciplined enough to realize they have to stay within their asset allocation models." "Re-balancing" your investments is essential with cryptocurrencies, he said, because of their tendency to rapidly change value. "If you've invested 20 percent of your portfolio into bitcoin, and all of a sudden you check and, lo and behold, your bitcoins have increased so much that they're now 35 percent of your portfolio, you can rebalance and go back to your asset allocation," Tatar said. "That should protect you from some of that volatility." "You're seeing too many people jumping in and betting the ranch, and just saying Yee-Haw!" -Jack Tatar , co-author, Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond It's not just the owners of cryptocurrencies who are stressed, Smigiel said. Recently, he finds himself consoling his clients who haven't bought any bitcoin, ripples or ethereum. "We also see anxiety on the flip-side — the people who feel they are missing out," he said. "And so you're anxious either way." More from Personal Finance: Bitcoin, once 'sketchy,' becomes more mainstream Some cryptocurrency-backed debit cards dropped from Visa network, leaving users scrambling Bitcoin is too risky to treat as a 'serious' investment, financial advisers say WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters show chapters Bitcoin’s origin story remains shrouded in mystery. Here's why it matters 6:30 PM ET Fri, 27 Oct 2017 | 06:23

https://www.cnbc.com/2018/01/10/buffetts-cryptocurrency-predictions-are-scary-heres-how-to-cope.html

I tried to get my iPhone 6 battery replaced -- here's what happened

CNBC.com SHARES We decided to replace the battery in an iPhone 6 and document exactly how it went. Quick backstory: Apple announced in early January that owners of the iPhone 6, iPhone 6s, iPhone 6s Plus and iPhone 7 could replace the batteries in their phones for just $29. Apple began replacing the batteries after backlash from customers who noticed that Apple had started to throttle the speeds of the phones, making them feel slower. There are rumors that it's taking up to months to get a replacement, however, so we decided to find out just how bad the situation is firsthand using both an iPhone 6 and 6s. Here's what went down. The process Locations with appointments to swap a battery. First, we visited Apple's support website and selected assistance for the iPhone, chose the battery option and then selected "battery replacement." We decided it would be best to try to get the battery swapped in an Apple Store, and selected the "bring in for repair" option. Apple showed a list of locations where we could get the battery swapped as soon as the next day — including places such as Best Buy and mom and pop shops. The majority of locations didn't have appointments for a few days. We decided to try the 14th Street Apple Store in New York and made an appointment for the next day. The experience Walking into the 14th Street Apple Store There's good news and bad news. Apple said it couldn't replace the battery in our iPhone 6 for about two weeks. An employee said that about 90 percent of his appointments are for battery replacements, which suggests Apple can't keep up with the demand right now. On the other hand, Apple said it could replace the battery in our iPhone 6s in just two hours. It was also eligible for a free battery replacement since it was purchased between October and November 2015. Phones sold at that time were more sensitive to temperature changes, causing them to turn off. As with most Apple repairs, your phone can't have excessive damage. The iPhone 6s we brought in had seen better days — and had a third-party screen replacement. It was also missing the screws near the charging port. The Apple Genius Bar employee was skeptical about the phone's third-party screen, and said there was a 50 percent chance that if they took the phone apart it wouldn't work again. If so, it would require a $129 screen repair, or we would have to replace the entire device for $299. We decided to take the risk — and it paid off. We picked it up later in the evening with a new battery. Your mileage may vary Todd Haselton | CNBC Waiting for our replacement. Another colleague at CNBC said she took two iPhone 6 units to a Best Buy, also with an appointment made through Apple's website, and was told that there wasn't stock available to replace her battery. A call to Best Buy a week later confirmed there still weren't any batteries available. Your luck may vary depending on where you live and whether or not your nearby Apple Store has batteries in stock or not. If you live far away, consider calling ahead of time. Our advice CNBC/Michelle Castillo This iPhone 6S went from 100 percent battery to 14 percent in four hours. While Apple has said it will soon release an update that will let users see their battery health and even deactivate Apple's automatic slowdowns on the processor, we still recommend getting your battery replaced . It'll cost $29 and you'll have a fresh battery pack and a phone running at full speed again. Just know that you might need to wait a bit before they're in stock.

https://www.cnbc.com/2018/01/19/apple-iphone-6-battery-what-happened-when-i-tried-to-get-it-replaced.html

Seven still missing after deadly mudslides in Montecito, California

Crews dug away at masses of mud, boulders and debris with earth-moving machines and shovels Saturday in a California town ravaged by mudslides, hoping to find seven people still missing in a disaster that has already claimed at least 18 lives. The army of searchers and recovery workers in Montecito swelled to more than 2,000 five days after a powerful storm swept in from the Pacific and dumped a deluge on mountain slopes above the coastal enclave that were burned bare by a huge wildfire in December. The backbreaking work went on under the sunny skies that have made the stretch of Santa Barbara County coast about 90 miles (145 kilometers) northwest of Los Angeles a haven for the wealthy, celebrities and tourists drawn to its scenery and casual vibe. "We have to do whatever it takes," said Capt. Tom Henzgen, leader of a team from the Los Angeles Fire Department. Read more: Doctor, elderly couple, 6-year-old among mudslide victims Mudslide brings economic shock to area known for tourism Largest wildfire on record in California finally contained Long-range forecasts gave the crews about a week before the next chance of rain — and potential new mudslides — although the precipitation expected next Friday was expected to be disorganized and light. Another system was possible two days later Much of the community of about 9,000 remained under mandatory evacuation orders, even unscathed areas, as crews both removed debris and worked to restore water, sanitation, power and gas. All warnings and orders for neighboring Summerland and Carpinteria were lifted. Tanker trucks sucked muddy water from flooded sections of U.S. 101, the only direct major artery between Los Angeles and the Santa Barbara region and an important route for many people who work in the Santa Barbara region but live down the coast in Ventura County. show chapters California rescuers use dogs, scanners to search deadly mudslide debris 4:08 PM ET Thu, 11 Jan 2018 | 00:44 The California Department of Transportation abandoned an estimate of reopening the highway on Monday and said it was not known when the closure would be lifted. Amtrak, which began restoring rail service two days after the flood, was adding cars to trains because of heavy demand. Two boat companies that normally take tourists out to Channel Islands National Park and on whale-watching excursions were ferrying people between the Ventura and Santa Barbara harbors. On land, local, state and federal agencies were conducting simultaneous recovery efforts, the Santa Barbara County Public Works Department said. That included clearing roads, drainage channels and debris basins that are intended to catch mudflows. Emergency permits were obtained to dump up to 300,000 cubic yards (229,365 cubic meters) of sediment into the surf line on beaches in Goleta and Carpinteria. Getty Images Firefighters search for people trapped in mudslide debris on January 10, 2018 in Montecito, California. The department said the sediment would only consist of wet or dry dirt or mud without rocks, debris or vegetation, and inspectors would refuse any truckload containing unpermitted materials. Occasional rocks would be set aside by hand for disposal. Santa Barbara County said emergency permits don't require testing of the material for hazards but that public health authorities were testing the ocean waters. Down the coast in Ventura County, environmental health officials warned that storm runoff can carry disease-causing bacteria and warned the public to avoid contact with ocean water until sampling results can be reviewed next week. In the disaster impact zone, searchers used chain saws and rakes to remove logs and sift through the remnants of what was left of multimillion-dollar homes. Crews with backhoes and jackhammers pulverized enormous boulders that were left when the torrents stopped. Orange markings left on doors indicated which homes had already been searched. In one of the hardest hit areas, a silver Mercedes-Benz, its front and rear fenders completely destroyed, sat atop a tree stump, the only thing left where a home once sat. Rescuers said they would search every piece of debris and pile of dirt to look for the missing. Henzgen, the Los Angeles Fire Department captain, pointed to a nearly empty lot. "This house is across the street now so we have to search these piles where people could've potentially floated into," he said. show chapters California's deadly mudslides leave main highway looking like a river 3:01 PM ET Thu, 11 Jan 2018 | 01:27 Each member of his team is given a section and must reduce any piles to ground level. "We're going to tear them apart piece by piece and search each pile thoroughly and make sure there's nobody in there," Henzgen said. At a destroyed residence where mud-caked 14-year-old Lauren Cantin was rescued Tuesday hours after the early morning disaster hit, fire crews moved pieces of the roof, wood and concrete by hand as they looked for any sign of her missing 17-year-old brother. The so-called Thomas fire, which led to the floods, was declared fully contained Friday. It erupted Dec. 4 in Ventura County and destroyed more than 1,000 structures as it swept through the city of Ventura and then threatened Carpinteria, Summerland and Santa Barbara. At 440 square miles, it became the largest wildfire in California records.

https://www.cnbc.com/2018/01/13/seven-still-missing-after-deadly-mudslides-in-montecito-california.html

BRIEF-Citigroup Says "Expanded On Efforts To Assess Pay At Citi When Comparing Women To Men, And US Minorities To Non-Minorities" - Memo‍​

#Funds News January 15, 2018 / 1:48 PM / Updated 40 minutes ago BRIEF-Citigroup Says "Expanded On Efforts To Assess Pay At Citi When Comparing Women To Men, And US Minorities To Non-Minorities" - Memo‍​ Reuters Staff 1 Min Read Jan 15 (Reuters) - Citigroup Inc: * CITIGROUP SAYS, IN MEMO TO STAFF, “EXPANDED ON EFFORTS TO ASSESS PAY AT CITI WHEN COMPARING WOMEN TO MEN, AND US MINORITIES TO NON-MINORITIES”‍​ * CITIGROUP SAYS FOUND THAT WOMEN ARE PAID ON AVERAGE 99% OF WHAT MEN ARE PAID, MINORITIES ARE PAID ON AVERAGE 99% OF WHAT NON-MINORITIES ARE PAID - MEMO‍​ * CITI SAYS "AS PART OF THIS YEAR’S COMPENSATION CYCLE, WE ARE MAKING APPROPRIATE INCREASES TO HELP CLOSE GAPS FOR BOTH WOMEN AND US MINORITIES" - MEMO Source text: citi.us/2DgjXPG Further company coverage:

https://www.reuters.com/article/brief-citigroup-says-expanded-on-efforts/brief-citigroup-says-expanded-on-efforts-to-assess-pay-at-citi-when-comparing-women-to-men-and-us-minorities-to-non-minorities-memo-idUSFWN1PA0HV

California Assemblyman Introduces Straws-Upon-Request Bill | Fortune

By Natasha Bach 6:00 AM EST California Assemblyman Ian Calderon is facing outrage and ridicule for proposing a bill (AB1884) that would make straws only available upon request. As currently written, the bill stipulates that waiters at sit-down restaurants cannot provide plastic straws unless patrons ask for them. If they do not comply, the bill includes misdemeanor penalties, punishable by six months in jail and/or up to a $1,000 fine. Many have accused the Assemblyman of government overreach and called the proposal absurd. However, Calderon has reassured Californians that these penalties would not appear in the final version of the bill. He explained that health and safety code penalties were automatically inserted into the bill when he sent it to the state legislative rules committee. Calderon has continued to try to clarify his position via Twitter, sharing a number of messages to his followers since the bill was introduced on Jan. 18. Most recently, he wrote , “I’d like to clarify that #AB1884 (Straws Upon Request) is (a) NOT a ban; (b) should it become law, it will NOT make it a crime for servers to provide plastic straws. My intention is simply to raise awareness about the detrimental effects of plastic straws on our environment.” I’d like to clarify that #AB1884 (Straws Upon Request) is (a) NOT a ban; (b) should it become law, it will NOT make it a crime for servers to provide plastic straws. My intention is simply to raise awareness about the detrimental effects of plastic straws on our environment. — MajLeaderCalderon (@IanAD57) January 26, 2018 Calderon further explained that the bill would not apply to fast-food restaurants, cafes, delis, or to takeout orders. The bill is not intended to be a plastic straw ban, but rather a means to limit the unnecessary use of straws. He said that he introduced the bill because there is a need to “create awareness around the issue of one-time use of plastic straws and its detrimental effects on our landfills, waterways, and oceans.” Calderon cited data that shows an estimated 500 million plastic straws are used and discarded everyday in the U.S. , and were the sixth most common item collected during California Coastal Cleanup Days between 1989 and 2014. But straws are not recyclable and therefore end up in landfills, oceans, or waterways. San Luis Obispo and Davis already have city ordinances in place that are similar to Calderon’s bill and have reportedly had no complaints. Meanwhile, Manhattan Beach has a ban on all disposable plastics, and other cities, like Santa Cruz and Los Angeles, are considering bans or limits on plastic straws. SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/30/california-plastic-straw-bill-ian-calderon/

Rugby - Eight uncapped players in injury-hit England Six Nations squad

January 18, 2018 / 9:19 AM / Updated 7 hours ago Rugby - Eight uncapped players in injury-hit England Six Nations squad Mitch Phillips 4 Min Read LONDON (Reuters) - Eddie Jones has included eight uncapped players in his 35-man squad for next month’s Six Nations opener in Italy as he seeks to cover a number of injury absences while also continuing to build towards the 2019 Rugby World Cup. Forwards Lewis Boyce, Tom Dunn, Gary Graham, Alec Hepburn and Zach Mercer, along with backs Nathan Earle, Harry Mallinder and Marcus Smith, are the men hoping to make their debuts. Jones, who on Wednesday extended his England contract until 2021, promoted 20-year-old Mercer to full player status after the Bath back rower was previously involved as an apprentice. Harlequins flyhalf Smith retains his “apprentice” status. Despite testing the depth of his options in just about all areas, Jones, however, persisted with his policy of selecting only two scrumhalves -- Ben Youngs and Danny Care -- as England seek to become the first team to win three successive Five or Six Nations titles outright. “This year Wales, Ireland, Scotland and France are regenerated and ready to go,” Jones said. ”We’ve had a number of injuries...it’s been another challenge but we took a team to Argentina without 16 Lions and we’re probably missing up to 12 first-choice squad players, but we’ve been able to put together a good squad, full of experience and enthusiasm. Rugby Union - England - Eddie Jones Press Conference - Twickenham Stadium, London, Britain - January 17, 2018 England Head Coach Eddie Jones and RFU CEO Steve Brown during the press conference Action Images via Reuters/Matthew Childs ”Lewis Boyce is a good young, strong prop and he has his opportunity because of injuries to Ellis Genge and Matt Mullan (and the suspension of Joe Marler). He is a good chop tackler, a tough boy and player of the future. ”Zach Mercer has a chance of being selected, especially with the absence of Nathan and Billy. We’ve been really impressed with how hard he’s worked at Bath off and on the field in terms of his defence. He is a naturally gifted player in terms of attack and is exciting to watch.” Jack Nowell, who has won almost all his 25 caps on the wing, is named as an inside back as Jones sees him in the midfield mix. Backs Full backsMike Brown (Harlequins)Nathan Earle (Saracens)*Harry Mallinder (Northampton Saints)*Jonny May (Leicester Tigers)Denny Solomona (Sale Sharks)Anthony Watson (Bath Rugby) Inside backsDanny Care (Harlequins)Owen Farrell (Saracens)George Ford (Leicester Tigers)Jonathan Joseph (Bath Rugby)Alex Lozowski (Saracens)Jack Nowell (Exeter Chiefs)Henry Slade (Exeter Chiefs)Ben Te’o (Worcester Warriors)Marcus Smith (Harlequins)* **Ben Youngs (Leicester Tigers) Forwards Back fiveGary Graham (Newcastle Falcons)*Nick Isiekwe (Saracens) Maro Itoje (Saracens) George Kruis (Saracens)Courtney Lawes (Northampton Saints)Joe Launchbury (Wasps)Zach Mercer (Bath Rugby)*Chris Robshaw (Harlequins)Sam Simmonds (Exeter Chiefs)Sam Underhill (Bath Rugby) Front rowLewis Boyce (Harlequins)*Dan Cole (Leicester Tigers)Tom Dunn (Bath Rugby)*Jamie George (Saracens)Dylan Hartley (Northampton Saints)Alec Hepburn (Exeter Chiefs)*Kyle Sinckler (Harlequins)Mako Vunipola (Saracens)Harry Williams (Exeter Chiefs) Players unavailableTom Curry (Sale Sharks)Elliot Daly (Wasps)Charlie Ewels (Bath Rugby)Piers Francis (Northampton Saints)Ellis Genge (Leicester Tigers)James Haskell (Wasps)Nathan Hughes (Wasps)Joe Marler (Harlequins)Matt Mullan (Wasps)Beno Obano (Bath Rugby)Semesa Rokoduguni (Bath Rugby)Will Spencer (Worcester Warriors)Billy Vunipola (Saracens)Uncapped *Apprentice player ** Reporting by Mitch Phillips,; Editing by Amlan Chakraborty

https://uk.reuters.com/article/uk-rugby-union-eng/rugby-eight-uncapped-players-in-injury-hit-england-six-nations-squad-idUKKBN1F710J

White House says Trump believes in a 'free-floating' currency

The White House declined Wednesday to echo Treasury Secretary Steven Mnuchin 's comment that a weaker dollar helps the United States. Press secretary Sarah Huckabee Sanders told reporters that the dollar is "stable" and reflects a "strong" American economy. When pressed if President Donald Trump supports a stronger or weaker dollar, she did not specify. "We believe in free-floating currency. The president has always believed in that," Sanders said. Brendan Smialowski | AFP | Getty Images President Donald Trump Earlier, Mnuchin said "a weaker dollar is good for us as it relates to trade and opportunities." U.S. Treasury secretaries typically talk up a strong dollar. The greenback fell against a trade-weighted basket of global currencies after Mnuchin's comment. The dollar index was down about 1 percent Wednesday afternoon.

https://www.cnbc.com/2018/01/24/white-house-says-trump-believes-in-a-free-floating-currency.html

REFILE-Rugby-France's Bastareaud gets three-week ban for homophobic comments

(Adds dropped word Toulon’s in first para) LONDON, Jan 17 (Reuters) - France centre Mathieu Bastareaud has been suspended for three weeks for making homophobic comments during Toulon’s Champions Cup win over Benetton Treviso on Sunday, and will miss the start of next month’s Six Nations. Bastareaud was cited for “verbally abusing the Benetton Rugby flanker, Sebastian Negri Da Oleggio, in the 80th minute of the match in contravention of Law 9.12,” European Professional Club Rugby (EPCR) said in a statement on Wednesday. The ban for Bastareaud, who apologised on social media for his remarks, followed an independent EPCR Disciplinary Hearing and means he will miss his country’s opening Six Nations game against Ireland on Feb. 3. (Writing by Ken Ferris; Editing by Ossian Shine)

https://www.reuters.com/article/rugby-union-nations-france-bastareaud/rugby-frances-bastareaud-gets-three-week-ban-for-homophobic-comments-idUSL8N1PC50J

CONSOL Coal Resources Schedules Fourth Quarter 2017 Earnings Release and Conference Call

CANONSBURG, Pa., Jan. 8, 2018 /PRNewswire/ -- CONSOL Coal Resources LP (NYSE: CCR) will issue its fourth quarter earnings release before the market opens on Tuesday, February 6, 2018. This will be followed by a conference call hosted by members of the management team at 11:00 a.m. Eastern Time. The webcast will be accessible on the 'Investor Relations' page of the company's website, www.ccrlp.com . An archive of the webcast will be available for at least 30 days after the event. Beginning first quarter of 2018, we expect to hold a combined earnings conference call with our sponsor, CONSOL Energy Inc. (NYSE: CEIX), which owns the remaining 75% interest in the Pennsylvania Mining Complex. Participant dial in (toll free) 1-855-656-0928 Participant international dial in 1-412-902-4112 Participants should ask to be joined into the CONSOL Coal Resources earnings conference call. CONSOL Coal Resources is a growth-oriented master limited partnership formed by CONSOL Energy Inc. (NYSE: CEIX) to manage and further develop all of CONSOL's active coal operations in Pennsylvania. Its assets include a 25% undivided interest in, and operational control over, CONSOL's Pennsylvania mining complex, which consists of three underground mines and related infrastructure. More Information is available on our website www.ccrlp.com Contacts: Investor: Mitesh Thakkar, at (724) 485-3133 miteshthakkar@ccrlp.com Media: Zach Smith, at (724) 485-4017 zacherysmith@ccrlp.com View original content with multimedia: http://www.prnewswire.com/news-releases/consol-coal-resources-schedules-fourth-quarter-2017-earnings-release-and-conference-call-300579284.html SOURCE CONSOL Coal Resources LP and CONSOL Energy Inc.

http://www.cnbc.com/2018/01/08/pr-newswire-consol-coal-resources-schedules-fourth-quarter-2017-earnings-release-and-conference-call.html

How Sanofi's setback could lead to better dengue vaccines

CHICAGO (Reuters) - New dengue vaccines being developed by Takeda Pharmaceuticals Co Ltd and U.S. government scientists are poised to provide a safer alternative to Sanofi’s Dengvaxia, according to vaccine experts, because they already take into account some of the issues that sidelined the product last year. Sanofi revealed in November that Dengvaxia - the world’s first dengue vaccine - might increase the risk of severe disease in people who had never been exposed to the virus. The news prompted an uproar in the Philippines, where more than 800,000 school-age children had been vaccinated. Next-generation vaccines by Japan’s Takeda and the U.S. National Institutes of Health, in conjunction with Brazil’s Butantan Institute, are now in late-stage testing. They both differ significantly from Dengvaxia, which may increase the chances for a stronger, more durable immune response, according to more than a dozen dengue experts interviewed by Reuters. They expressed especially high hopes for the NIH vaccine, which protected 100 percent of volunteers who received it in a small study. Merck & Co Inc holds an exclusive license for the NIH vaccine in the United States, Canada, China, Japan and the European Union, and plans to begin its own trials in the first half of 2018. It’s too early to say whether either candidate will ultimately succeed, and experts await data from large, late-stage clinical trials. And while Sanofi’s early safety troubles may delay licensing of new vaccines for a few years as global regulators seek assurances from longer-term data, the increased scrutiny should result in a better, safer product, they said. “We’ve learned a tremendous amount about dengue from the Sanofi vaccine,” said Dr. Anna Durbin, a researcher at the Johns Hopkins Bloomberg School of Public Health who helped develop the NIH vaccine. “There is hope the two candidates coming down the pike can provide the benefit of a good dengue vaccine without the risk.” LESSONS LEARNED Dengue is the world’s fastest-growing infectious disease, afflicting up to 100 million people worldwide, causing half a million life-threatening infections and killing up to 25,000 people, mostly children, each year. An effective vaccine could be worth more than $1 billion globally, according to industry analysts. There are four distinct types of dengue. A first infection with any one of them can increase the chances of severe disease when exposed to a second. Experts say an effective vaccine must protect against all four types at once. A weak response to one of them could act like a first infection and leave a person vulnerable to severe disease when exposed a second time. That is what appears to have happened with Sanofi’s Dengvaxia, according to vaccine experts. “It wasn’t a uniformly high level of response to all four subtypes (of dengue) simultaneously,” Dr. Anthony Fauci, director of the NIH’s National Institutes of Allergy and Infectious Diseases, said in an interview. Sanofi’s late-stage clinical trials, which were designed in 2009, only collected blood samples from 10 to 15 percent of study participants before they were vaccinated. As a result, it was impossible to know when the studies were published in 2015 whether risks were greater in children who had never been exposed to dengue, said Dr. Su-Peing Ng, Sanofi’s global medical head, in an interview. To answer this question, Sanofi developed a special test to re-analyze its results, leading to the November 2017 disclosure. “We’ve been extremely transparent with our data,” Ng said, adding that the company consulted with the field’s leading experts as it was developing its vaccine. Clinical trials testing the two new vaccines both require blood samples for all participants before they are vaccinated so they can quickly identify any similar risks. Dr. Stephen Whitehead, who developed the NIH vaccine, said in a 2016 review that the long-term follow up from Sanofi’s studies “was instrumental in identifying safety concerns that are currently being investigated.” IMMUNE RESPONSE Dengvaxia uses a widely effective yellow fever virus vaccine as its genetic backbone. To induce an immune response to dengue, certain yellow fever genes were swapped out for dengue genes. “It seemed like a bright idea 20 years ago,” said dengue expert Dr. Scott Halstead, an adjunct professor at the Uniformed Services University of the Health Sciences in Bethesda, Maryland. In hindsight, Halstead said, simply splicing select dengue genes into a yellow fever vaccine may not present enough of the virus to the immune system to induce full protection. Instead of yellow fever, Takeda’s vaccine, TAK-003, is based on a weakened version of a live dengue 2 virus. “We’ve taken a dengue 2 virus backbone and inserted elements of dengue 1, 3 and 4,” said Dr. Rajeev Venkayya, president of Takeda’s global vaccine business unit. That’s important, Venkayya said, “because it exposes an individual that is immunized to a broad range of proteins on the outside and the inside of the virus, which allows individuals to generate a broad immune response.” Data published in November in Lancet Infectious Diseases showed Takeda’s vaccine produced responses against all four virus types, regardless of previous dengue exposure. There were no safety concerns. Takeda’s vaccine is being tested in 20,000 children aged 4 to 16 in Asia and Latin America. Initial data are expected in late 2018. Venkayya said the company’s research has shown the vaccine, given in two doses, can produce both antibodies to dengue as well as a second type of response in which immune cells - known as CD8-positive T cells - recognize and kill virus-infected cells. Several researchers suspect exposure to the full spectrum of dengue proteins is key to developing a fully protective vaccine. Johns Hopkins’ Durbin said the presence of T-cells triggered by non-structural proteins in dengue 2 could help clear the virus before people become sick. But, like Sanofi’s Dengvaxia, the Takeda vaccine appears to produce an unbalanced antibody response, with the highest protection offered against dengue 2. In a July 2017 paper published in Cold Spring Harbor Perspectives in Biology, Halstead said that it is also not clear whether Takeda’s vaccine will provoke T-cell immunity to the other three dengue viruses, clouding its potential to succeed. The NIH vaccine, called TV003/TV005, also features weakened versions of live dengue, but three of the four components - dengue 1, 3 and 4 - are based on whole dengue viruses. The fourth component is based on a dengue 4 backbone with dengue 2 genes spliced in. It has been shown to provoke a strong antibody response to all four types of dengue in a single shot, as well as producing T-cell immunity. “It appears to be a true, protective, one-dose vaccine,” Halstead said. Brazil’s non-profit Butantan Institute is testing the vaccine in some 17,000 participants in 14 areas with widespread dengue. “Though you never, ever, definitively predict until after everything is completely over, everything we’ve seen on the preliminary work on that looks pretty good,” Fauci said. Editing by Michele Gershberg and Edward Tobin

https://www.reuters.com/article/us-sanofi-dengue-competitors/how-sanofis-setback-could-lead-to-better-dengue-vaccines-idUSKBN1FI0FY

Family of rancher slain during wildlife refuge standoff sues U.S., FBI

January 27, 2018 / 12:17 AM / Updated 18 hours ago Family of rancher slain during wildlife refuge standoff sues U.S., FBI Dan Whitcomb 3 Min Read LOS ANGELES (Reuters) - Family members of a rancher who was shot and killed by police during the 2016 armed occupation of a federal wildlife refuge have sued the U.S. government, Federal Bureau of Investigation, state of Oregon and others claiming he was willfully “executed.” The lawsuit was filed in U.S. District Court in Portland nearly two years to the day after Robert “LaVoy” Finicum, 54, was shot dead by Oregon State Police on Jan. 26, 2016, along a snow-covered road near the Malheur National Wildlife Refuge. “As it turns out, he was deliberately executed by a pre-planned government ambush, after he had exited his vehicle with his hands up,” the plaintiffs allege in their 48-page lawsuit. “Along an isolated section of U.S. Route 395 in Harney County, Oregon where the only other people within miles were those who had set up the ambush, LaVoy Finicum was executed as he walked away from his truck in the deep snow,” the plaintiffs say in their court papers. A spokeswoman for the FBI’s office in Portland, Beth Anne Steele declined to comment on the lawsuit, citing an agency policy of not responding in the press to pending litigation. A spokesman for Oregon Governor Kate Brown said that her office would also have no comment. The Oregon State Police did not respond to requests by Reuters for comment on Friday afternoon. Finicum acted as a de facto spokesman for the group of some two dozen land rights protesters who seized buildings at the refuge on Jan. 2, 2016, a move sparked by the return to prison of two Oregon ranchers convicted of setting fires that spread to federal property in the area. It also marked the latest flare-up in the so-called Sagebrush Rebellion, a decades-old conflict over federal control of millions of acres of land in the West. Finicum, an Arizona rancher, was shot three times in the back after running from his pickup truck at a roadblock, a killing a county prosecutor later found “justified and necessary.” In October 2016, the leader of the standoff, activist Ammon Bundy, and six of his followers were acquitted of federal charges. Two other men who took part in the occupation were later convicted of federal conspiracy charges. Earlier this month a judge threw out the criminal case against Ammon Bundy, his father Cliven, brother Ryan and another defendant over their 2014 standoff against federal agents in Nevada over cattle grazing rights, citing prosecutorial misconduct. Reporting by Dan Whitcomb, editing by G Crosse

https://www.reuters.com/article/us-oregon-standoff-lawsuit/family-of-rancher-slain-during-wildlife-refuge-standoff-sues-u-s-fbi-idUSKBN1FG00K

RPT-Germany to include yuan in FX reserves - c.banker

(Repeats to more subscribers) HONG KONG, Jan 15 (Reuters) - Germany’s central bank has decided to include China’s currency, the yuan, in its foreign exchange reserves, Bundesbank board member Andreas Dombret said in Hong Kong on Monday. “I can today say that also the German central bank, the Bundesbank, has decided to include renminbi in our currency reserves,” Dombret told a finance forum. The European Central Bank in June switched 500 million euros worth of its U.S. dollar reserves into yuan, reflecting the increased use of the Chinese currency and Beijing’s importance as one of the euro area’s biggest trading partners. (Reporting by Michelle Chen; Writing by John Ruwitch in Shanghai; Editing by Sam Holmes) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/germany-reserves-yuan/rpt-germany-to-include-yuan-in-fx-reserves-c-banker-idUSL3N1PA2AU

China aims to supersize coal sector through mergers

BEIJING (Reuters) - China said on Friday it plans to create several “super-large” coal mining companies by the end of 2020 as the world’s biggest producer of the fuel ramps up years of efforts to streamline the fragmented sector and slash outdated capacity. The country’s National Development & Reform Commission (NDRC) said in a statement that by the end of 2020, China plans to form a number of mega-miners, each with the capacity to produce 100 million tonnes per year of coal, which will compete on the global market and help to modernize the sector. Last year, China had more than 4,000 coal mines with a total capacity of 3.41 billion tonnes a year, the National Energy Administration (NEA) said in November. Only six of China’s coal mining companies are currently capable of producing more than 100 million tonnes per year, according to the China National Coal Association. Those include top coal miner Shenhua Group, China Coal Energy Group and Datong Coal Mine Group [DTCOA.UL]. The NDRC’s plan follows the acquisition last year of state power company China Guodian Group Corp by Shenhua to create the world’s largest utility. That latest arranged marriage by the government was part of Beijing’s effort to shake up its indebted and inefficient state sector, cut the number of companies and create globally competitive firms straddling many sectors including power generation, shipping and metals. It also comes as Beijing deepens its war on smog with a push to boost cleaner energy consumption and limit the use of coal, which is used to produce the majority of China’s electricity. “Apart from eliminating excess capacity, the government is also seeking to improve coal firms’ profitability by extending business into non-coal sectors, such as power generation and transportation,” said Wu Qi, a research director at Hengfeng Bank Research Institute. Among the steps proposed on Friday, the NDRC said it would encourage the coal industry to undertake more dealmaking with chemical coal, shipping and iron and steel firms. It also called for the continued phase-out of outdated production by encouraging small-scale, inefficient mines to close, it said. Under its five-year plan to 2020, China has pledged to eliminate around 800 million tonnes of outdated capacity and add around 500 million tonnes of advanced output. Coal output will be around 3.9 billion tonnes a year by 2020. Reporting by Muyu Xu and Josephine Mason; Editing by Kenneth Maxwell and Christian Schmollinger

https://www.reuters.com/article/us-china-coal/china-aims-to-create-giant-coal-mining-firms-in-push-to-modernize-sector-idUSKBN1EU0Q8

Chinese high-speed train fire triggers evacuation

BEIJING (Reuters) - A fire onboard a Chinese high-speed train forced passengers to evacuate on Thursday, the Shanghai Railway Bureau said, with an electrical installation thought to be at fault. No one was hurt. A video clip posted on state-run Xinhua News Agency’s microblog account showed flames and black smoke rising from the second car of the train which was en route to the scenic eastern city of Hangzhou from coastal Qingdao to the north. Passengers evacuated at the station in Dingyuan, in Anhui province. The railway bureau declined to comment on how many passengers were on board or whether the fire led to delays or cancellations. China National Radio said at least 17 trains were delayed. Reporting by Lusha Zhang and Se Young Lee; Editing by Nick Macfie

https://in.reuters.com/article/china-accidents-train/chinese-high-speed-train-fire-triggers-evacuation-idINKBN1FE12A

BRIEF-United Rentals Reports Q4 Adjusted Earnings Per Share $11.37

Jan 24 (Reuters) - United Rentals Inc: * UNITED RENTALS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2017 RESULTS * Q4 ADJUSTED EARNINGS PER SHARE $11.37 * Q4 GAAP EARNINGS PER SHARE $10.45 * Q4 REVENUE $1.922 BILLION VERSUS I/B/E/S VIEW $1.87 BILLION * Q4 EARNINGS PER SHARE VIEW $3.27 -- THOMSON REUTERS I/B/E/S * ‍PROVIDES 2018 OUTLOOK AND ESTIMATED IMPACT OF U.S. TAX REFORM​ * SEES 2018 TOTAL REVENUE ‍ $7.3 BILLION TO $7.6 BILLION​ * SEES 2018 ‍ FREE CASH FLOW EXCLUDING MERGER AND RESTRUCTURING RELATED PAYMENTS, $1.3 BILLION TO $1.4 BILLION​ Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-united-rentals-reports-q4-adjusted/brief-united-rentals-reports-q4-adjusted-earnings-per-share-11-37-idUSASB0C279

Slain Kosovo Serb leader Ivanovic given big funeral in Belgrade

January 18, 2018 / 4:00 PM / Updated 15 minutes ago Slain Kosovo Serb leader Ivanovic given big funeral in Belgrade Aleksandar Vasovic 4 Min Read BELGRADE (Reuters) - Hundreds of mourners came to Belgrade’s central cemetery on Thursday to attend the funeral of a Kosovo Serb leader whose killing stoked tensions between Serbia and its former province of Kosovo. Oliver Ivanovic, 64, was shot six times on Tuesday as he arrived at his party office in Mitrovica, a Kosovo town bitterly divided between majority ethnic Albanians and minority Serbs. Ivanovic had been facing a retrial over killings of ethnic Albanians during Kosovo’s 1998-99 guerrilla uprising against repressive Serbian rule. His body was brought by car to Serbia’s capital, 420 km (260 miles) north of Mitrovica, escorted by mourners. “The best among Kosovo Serbs was slain and the damage cannot be undone. This death will haunt us politically,” said Nevenka Medic, a Mitrovica Serb, clutching a red rose to place on Ivanovic’s grave. Ivanovic rose to prominence shortly after the war as one of Mitrovica’s “bridge-watchers” - nationalist Serbs who sought to block “infiltration” by Albanians over the Ibar River bridge into the northern half of the town. After the group disbanded, Ivanovic entered politics and became known as a relative moderate for advocating post-war dialogue and compromise with Kosovo Albanians, while still refusing to recognise Kosovo’s 2008 independence from Serbia. Serbs from Belgrade and from Kosovo queued to lay wreaths and flowers and offer condolences to Ivanovic’s wife who stood next to the coffin in front of the cemetery’s main chapel. SERBIAN GOVERNMENT LEADERS Mourners cry during the funeral of Oliver Ivanovic in Belgrade, Serbia, January 18, 2018. REUTERS/Djordje Kojadinovic Among them were top Serbian government officials including Prime Minister Ana Brnabic and Foreign Minister Ivica Dacic, as well as opposition leaders. “He was heard with attention by both foreigners and Serbs and often Albanians, for him Kosovo was more than just territory and politics,” Orthodox Bishop Teodosije said in a eulogy. An EU-sponsored dialogue on the normalisation of ties between Serbia and Kosovo was suspended when Belgrade’s delegation walked out after the killing, saying it would return only once Ivanovic’s killers are brought to justice. Slideshow (7 Images) During a visit to neighbouring Macedonia, NATO Secretary General Jens Stoltenberg said Ivanovic’s killing was “an example of how the situation in Kosovo is not where we would like it to be”. About 4,600 NATO troops remain in Kosovo as peacekeepers. Kosovo police said they had traced the owner of a burnt car believed to be linked to the killers and were interviewing potential witnesses. No one heard the shots as, according to investigators, the gunman likely used a silencer. In 2016, Ivanovic was convicted by an European Union-run court of inciting murders of ethnic Albanians during the war and sentenced to nine years in prison. He appealed, arguing the evidence was forged, and a retrial was ordered. Serbian officials said the accusations were trumped up. Kosovo’s estimated 50,000 Serbs live in a northern pocket that has been in legal limbo since the war - politically loyal to Serbia but effectively a no-go territory for both Serbian and Kosovo police, with Serb criminal gangs - some of whose members are ex-“bridge-watchers” - exerting a powerful grip. Ivanovic’s car was set on fire last year in what he called a politically motivated attack. His widow Milena said she planned to move to Belgrade along with their 7-year old son. “My son and I have finished with Mitrovica - it’s a town of fear, darkness and pain,” she said. Writing by Ivana Sekularac; editing by Mark Heinrich

https://uk.reuters.com/article/uk-kosovo-serbs-shooting-funeral/slain-kosovo-serb-leader-ivanovic-given-big-funeral-in-belgrade-idUKKBN1F7279

At least 15,000 Cameroonian refugees flee to Nigeria amid crackdown

January 11, 2018 / 1:33 PM / Updated 12 minutes ago At least 15,000 Cameroonian refugees flee to Nigeria amid crackdown Paul Carsten 3 Min Read ABUJA (Reuters) - More than 15,000 Cameroonian refugees have fled to Nigeria amid a crackdown on Anglophone separatists, the United Nations (UN) refugee agency and Nigerian government officials said on Thursday. The once-fringe English-speaking movement in majority French-speaking Cameroon has gathered pace in the last few months after a military crackdown on protests, leading it to declare independence in October for a breakaway “Ambazonia” state it wants to create. The move poses the biggest challenge yet to the 35-year rule of President Paul Biya, who will seek re-election this year, and the violent repression he has unleashed has driven thousands of people from English-speaking regions across the border into Nigeria. More than 8,000 refugees have been registered in the southeastern state of Cross River alone, said Antonio Jose Canhandula, the UN High Commissioner for Refugees’ (UNHCR) representative in Nigeria, at a briefing in Abuja. A further 6,700 or so Cameroonian refugees have crossed into neighbouring Benue state, said Sadiya Umar Farouq, the head of Nigeria’s National Commission for Refugees, Migrants and Internally Displaced Persons, citing Benue officials. There are also at least 350 refugees in the states of Taraba and Akwa Ibom, said Tamuno Dienye Jaja, deputy comptroller general of the Nigeria Immigration Service. The refugees are mostly children, women and the elderly, with very few young men, the officials said. “Certainly there are more, how many more we are not able to state,” said the UNHCR’s Canhandula. “They are still coming, and they are coming daily,” he said. “It is a crisis.” More food assistance, education and social services are needed, particularly as a number of the women are pregnant at a young age, were are all issues, Canhandula said. Nigeria’s Farouq pledged the government’s support. “We are going to do all that we can to bring some kind of relief,” she said. Nigerian and Cameroonian officials have met to discuss the refugees and those talks are ongoing, she said, although she declined to give details. The separatist movement, including armed radical elements, has strained bilateral relations between the two countries. Last week, Nigerian authorities took 12 leaders of the separatists, including the chairman of the self-declared Governing Council of Ambazonia, into custody after they gathered for a meeting in a hotel in the Nigerian capital Abuja, people familiar with the matter said. Cameroonian troops last month crossed into Nigeria in pursuit of rebels without seeking Nigerian authorization, leading to diplomatic wrangling behind the scenes. The unrest in Cameroon began in November, when English-speaking teachers and lawyers in the Northwest and Southwest regions of Cameroon that neighbour Nigeria, frustrated with having to work in French, took to the streets calling for reforms and greater autonomy. French is the official language for most of Cameroon, but English is spoken in the two regions. Reporting by Paul Carsten; Editing by Hugh Lawson

https://uk.reuters.com/article/uk-cameroon-separatists-nigeria/at-least-15000-cameroonian-refugees-flee-to-nigeria-amid-crackdown-idUKKBN1F01PB

McDonald Hopkins welcomes restructuring attorney Ashley Jericho

DETROIT, Jan. 17, 2018 /PRNewswire/ -- Business restructuring attorney Ashley J. Jericho has joined the Detroit office of McDonald Hopkins LLC, a business advisory and advocacy law firm, as an Associate. Jericho has over nine years of insolvency experience, including representing consumer and business debtors, creditors and trustees in bankruptcy proceedings, contested matters and adversary proceedings. She has also represented business debtors in representing individuals and businesses in state and federal court litigation involving real estate, zoning, contract, collections and debt negotiation. Jericho earned her J.D., magna cum laude, from the Western Michigan Cooley Law School in 2008, where he served as the associate editor of the Thomas M. Cooley Law Review. Jericho also received a B.A. in Political Science from Washington and Jefferson College in 2004. Jericho can be reached at ajericho@mcdonaldhopkins.com or 248.593.2945 X1945. About McDonald Hopkins Founded in 1930, McDonald Hopkins is a business advisory and advocacy law firm with locations in Chicago, Cleveland, Columbus, Detroit, Miami, and West Palm Beach. With more than 50 service and industry teams, the firm has the expertise and knowledge to meet the growing number of legal and business challenges our clients face. For more information about McDonald Hopkins, visit mcdonaldhopkins.com . CONTACT: Deborah W. Kelm McDonald Hopkins LLC 600 Superior Avenue, East, Suite 2100 Cleveland, Ohio 44114 Phone: 216.348.5733 Email: dkelm@mcdonaldhopkins.com View original content with multimedia: http://www.prnewswire.com/news-releases/mcdonald-hopkins-welcomes-restructuring-attorney-ashley-jericho-300584022.html SOURCE McDonald Hopkins

http://www.cnbc.com/2018/01/17/pr-newswire-mcdonald-hopkins-welcomes-restructuring-attorney-ashley-jericho.html

Innogy in talks with potential partners over 2 billion pound wind farm

ESSEN, Germany (Reuters) - German energy group Innogy is trying to win financing partners for its planned £2 billion British offshore wind farm Triton Knoll, a group executive said. With about 860 megawatts of generating capacity, Triton Knoll is due to go live in 2021 and is expected to supply the equivalent of 800,000 British households with renewable electricity. “We are in talks with several interested parties. We won’t do this alone,” Hans Buenting, board member in charge of Innogy’s renewable business, said, adding that the group could keep either a minority or majority stake in the project. Innogy, majority owned by utility RWE, expects to make a final investment decision about Triton Knoll by the end of June. For 2017, Innogy’s renewable business is expected to have contributed about 12.5 percent, or 350 million euros ($429 million), to its total adjusted operating profit, with profits to remain stable this year before growing from 2019, he said. Innogy also plans to expand its business further in the United States, where it signed a deal last month to buy onshore wind power projects with more than 2 gigawatts of capacity. “The U.S. market is one of our most significant growth markets for renewable energy,” Buenting said. He declined to comment on the sudden departure of former Chief Executive Peter Terium, who stepped down last month just days after a profit warning. Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Douglas Busvine and Dale Hudson

https://www.reuters.com/article/us-innogy-renewables/innogy-in-talks-with-potential-partners-over-2-billion-pound-wind-farm-idUSKBN1F41TW

UPDATE 1-Dropbox files confidentially for U.S. - source

(Changes sourcing) Jan 11 (Reuters) - Data-sharing business Dropbox Inc has filed confidentially for a U.S. initial public offering, a source close to the matter said on Thursday. The IPO will be led by Goldman Sachs Group Inc and JPMorgan Chase & Co, Bloomberg reported earlier, citing people familiar with the matter.( https://bloom.bg/2DmuDcl ) Reuters reported in June that the company, valued at almost $10 billion in a private fundraising round in 2014, was seeking to hire underwriters for an IPO. Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first half of 2018, the Bloomberg report said. Dropbox could not be immediately reached for comment. (Reporting by Shariq Khan in Bengaluru, Liana Baker in San Francisco; Editing by Maju Samuel)

https://www.cnbc.com/2018/01/11/reuters-america-update-1-dropbox-files-confidentially-for-u-s-ipo--source.html

Croatia says at least seven firms want INA buyback role

ZAGREB, Jan 17 (Reuters) - Croatia has received seven offers from potential advisers to help the government find the best way to buy back shares of energy firm INA, whose ownership is shared with Hungary’s MOL, Finance Minister Zdravko Maric said on Wednesday. INA is 45 percent owned by Croatia and 49 percent owned by MOL and the two sides have been at odds for years over management rights and investment policy at the Croatian oil company. Croatia said in late 2016 that it had decided to buy back INA shares and Hungary’s Prime Minister Viktor Orban confirmed that MOL was ready to sell. Croatia initially sent an invitation to 18 potential advisers. The deadline for submitting the bids expired on Jan. 15. “We received seven bids. We may decide to extend the deadline a bit, so eventually we can expect around ten offers,” Maric said in an interview for the state radio. One of the most important roles for the adviser will be to determine the value of any transaction. INA has a market capitalisation of about 33 billion kuna ($5.44 billion) but analysts have said the small free float of the company is likely to impact its value. “Once all the bids are on the table we will certainly need several weeks to assess them,” Maric said. $1 = 6.0616 kuna Reporting by Igor Ilic; Editing by Elaine Hardcastle

https://www.reuters.com/article/croatia-ina/croatia-says-at-least-seven-firms-want-ina-buyback-role-idUSL8N1PC1Z6