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Emailed threat closes southern Swedish university on Monday

STOCKHOLM (Reuters) - Malmo University in the south of Sweden informed students and teachers on Thursday it would be closed on Monday due to a threat emailed to the university. The university said on its website the threat was serious and targeted Jan. 8 specifically. It gave no further details but said the police had launched a preliminary criminal investigation. The police were not immediately available for comment. On April 7 last year a man drove a truck into people on a busy pedestrian street in the Swedish capital, Stockholm, killing five. He later confessed to committing an act of terrorism. Reporting by Anna Ringstrom; Editing by Robin Pomeroy

https://www.reuters.com/article/us-sweden-university-threat/emailed-threat-closes-southern-swedish-university-on-monday-idUSKBN1ET215

Scientists reconstruct face of 9,000 year-old Greek teenager

January 23, 2018 / 3:15 PM / Updated 32 minutes ago Scientists reconstruct face of 9,000 year-old Greek teenager 2 Min Read ATHENS (Reuters) - The last time anyone looked on Dawn’s face was 9,000 years ago. Now the teenager can be seen again, after scientists reconstructed her face to show what people looked like in the Mesolithic period, around 7,000 BC. But she doesn’t look happy. Dawn is believed to be aged between 15 to 18 based on an analysis of her bones and teeth. She has a protruding jaw, thought to be caused by chewing on animal skin to make it into soft leather - a common practice among people of that era - and a scowling expression. Asked why she looked angry, orthodontics professor Manolis Papagrikorakis, who created a silicone reconstruction of her face from a terracotta mould of her head, joked: “It’s not possible for her not to be angry during such an era.” Slideshow (3 Images) Dawn was possibly anemic and may have suffered from scurvy, the researchers said. Evidence also pointed to hip and joint problems, which may have made it difficult for her to move and may have contributed to her death. Discovered in a cave in 1993, the girl was named Avgi - Greek for Dawn - because she lived during what is considered to be the dawn of civilization. Theopetra Cave, in the Thessaly region, was first inhabited about 100,000 years ago, according to the Culture Ministry. Stone tools from the Palaeolithic, Mesolithic and Neolithic periods have been discovered, as well as pottery from the Neolithic period. Dawn is on display at the Acropolis Museum in Athens. Editing by Karolina Tagaris and Robin Pomeroy

https://in.reuters.com/article/us-greece-archaeology-dawn/scientists-reconstruct-face-of-9000-year-old-greek-teenager-idINKBN1FC1XK

German GDP grew 2.2 pct in 2017, strongest rate in six years

BERLIN, Jan 11 (Reuters) - The German economy grew by a less than expected 2.2 percent in 2017, the strongest rate in six years and an improvement on the previous year, a preliminary estimate from the Federal Statistics Office showed on Thursday. Europe’s largest economy is benefiting from rising private consumption and resurgent exports buoyed by a recovery of the global economy. Economists polled by Reuters had expected growth in gross domestic product (GDP) of 2.4 percent after an expansion rate of 1.9 percent in the previous year. Adjusted for calendar effects, the growth rate was 2.5 percent last year, the statistic office said. (Reporting by Michael Nienaber and Joseph Nasr) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/germany-economy-gdp/german-gdp-grew-2-2-pct-in-2017-strongest-rate-in-six-years-idUSL8N1P61MH

WNS Announces Fiscal 2018 Third Quarter Earnings, Revises Full Year Guidance

NEW YORK & MUMBAI, India--(BUSINESS WIRE)-- WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced results for the fiscal 2018 third quarter ended December 31, 2017. Highlights – Fiscal 2018 Third Quarter: GAAP Financials • Revenue of $188.6 million, up 29.7% from $145.4 million in Q3 of last year and up 1.1% from $186.5 million last quarter • Profit of $26.3 million, compared to $18.0 million in Q3 of last year and $18.9 million last quarter • Diluted earnings per ADS of $0.51, compared to $0.35 in Q3 of last year and $0.36 last quarter Non-GAAP Financial Measures* • Revenue less repair payments of $185.2 million, up 32.4% from $139.8 million in Q3 of last year and up 1.6% from $182.3 million last quarter • Adjusted Net Income (ANI) of $34.2 million, compared to $25.2 million in Q3 of last year and $27.7 million last quarter • Adjusted diluted earnings per ADS of $0.66, compared to $0.49 in Q3 of last year and $0.53 last quarter Other Metrics • Added 7 new clients in the quarter, expanded 7 existing relationships • Days sales outstanding (DSO) at 30 days • Global headcount of 35,657 as of December 31, 2017 Reconciliations of the non-GAAP financial measures discussed below to our GAAP operating results are included at the end of this release. See also “About Non-GAAP Financial Measures.” Revenue in the third quarter was $188.6 million, representing a 29.7% increase versus Q3 of last year and a 1.1% increase from the previous quarter. Revenue less repair payments* in the third quarter was $185.2 million, an increase of 32.4% year-over-year and 1.6% sequentially. Excluding exchange rate impacts, constant currency revenue less repair payments* in the fiscal third quarter grew 28.5% versus Q3 of last year and 2.0% sequentially. Year-over-year, fiscal Q3 revenue growth was driven by healthy organic revenue growth across key verticals and services, our acquisitions of HealthHelp and Denali which closed in March 2017 and January 2017 respectively, and favorability from currency and hedging. Sequentially, revenue growth was the result of solid performance with both new and existing clients, which helped offset a modest headwind from currency movements net of hedging. Operating margin in the third quarter was 13.6%, as compared to 14.2% in Q3 of last year and 10.8% in the previous quarter. On a year-over-year basis, margin reductions were driven by the impact of our annual wage increases, higher share-based compensation and currency movements net of hedging. These headwinds were partially offset by improved seat utilization and increased operating leverage on higher volumes. Sequentially, margins increased as a result of lower share-based compensation, improved productivity, and currency movements net of hedging. These benefits more than offset lower seat utilization. Third quarter adjusted operating margin* was 19.9%, versus 21.3% in Q3 of last year and 18.5% last quarter. On a year-over-year basis, adjusted operating margin* reduced primarily due to the impact of our annual wage increases and currency movements net of hedging. These reductions were partially offset by improved seat utilization and increased operating leverage from higher volumes. Sequentially, adjusted operating margin* increased as a result of improved productivity and currency movements net of hedging. These benefits more than offset the impact of our annual wage increases and lower seat utilization. Profit in the fiscal third quarter was $26.3 million, as compared to $18.0 million in Q3 of last year and $18.9 million in the previous quarter. Adjusted net income (ANI)* in Q3 was $34.2 million, up $9.0 million as compared to Q3 of last year and up $6.4 million from the previous quarter. In addition to the explanations discussed above, fiscal third quarter profit and adjusted net income* increased by $5.2 million as a result of the net impact of one-time provisional tax adjustments associated with the 2017 US Tax Reform bill that reduced the US corporate tax rate on our deferred tax assets and deferred tax liabilities, and required us to record a charge for deemed repatriation of offshore earnings. From a balance sheet perspective, WNS ended Q3 with $208.4 million in cash and investments and $103.1 million of debt. In the third quarter, the company generated $38.3 million in cash from operations, and had $9.0 million in capital expenditures. WNS also repurchased 220,461 ADSs, with our buyback program impacting cash by $9.5 million dollars. Days sales outstanding were 30 days, the same as reported in Q3 of last year and in the previous quarter. “Our differentiated positioning in the market continues to resonate with clients, helping us add new logos and expand our existing relationships. In fiscal Q3, WNS delivered revenue less repair payments* of $185.2 million, representing year-over-year constant currency* growth of 29%. Growth was once again broad-based across key verticals, services, and geographies,” said Keshav Murugesh, WNS’s Chief Executive Officer. “Our clients continue to experience significant disruption in their business environments, helping generate increased interest in BPM. We believe WNS is well positioned to help clients address these challenges by combining deep domain expertise with robust capabilities in the areas of automation, analytics, and end-to-end digital solutions. We remain focused on helping our clients improve their competitive positioning, and delivering long-term sustainable value for all of our key stakeholders.” Fiscal 2018 Guidance WNS is updating guidance for the fiscal year ending March 31, 2018 as follows: Revenue less repair payments* is expected to be between $720 million and $726 million, up from $578.4 million in fiscal 2017. This assumes an average GBP to USD exchange rate of 1.34 for the remainder of fiscal 2018. ANI* is expected to range between $114 million and $116 million versus $92.2 million in fiscal 2017. This assumes an average USD to INR exchange rate of 64.0 for the remainder of fiscal 2018. Based on a diluted share count of 52.3 million shares, the company expects adjusted diluted earnings* per ADS to be in the range of $2.18 to $2.22 versus $1.74 in fiscal 2017. “The company has updated our forecast for fiscal 2018 based on current visibility levels and exchange rates,” said Sanjay Puria, WNS’s Chief Financial Officer. “Our revised guidance for the year reflects growth in revenue less repair payments* of 24.5% to 25.5%, or 23% to 24% on a constant currency* basis. We currently have over 99% visibility to the midpoint of the range.” Conference Call WNS will host a conference call on January 18, 2018 at 8:00 am (Eastern) to discuss the company's quarterly results. To participate in the call, please use the following details: +1-888-656-9018; international dial-in +1-503-343-6030; participant passcode 8369188. A replay will be available for one week following the call at +1-855-859-2056; international dial-in +1-404-537-3406; passcode 8369188, as well as on the WNS website, www.wns.com , beginning two hours after the end of the call. About WNS WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 350+ global clients by combining opera

http://www.cnbc.com/2018/01/18/business-wire-wns-announces-fiscal-2018-third-quarter-earnings-revises-full-year-guidance.html

International Coach Federation Global Board Elects 2018 Officers

LEXINGTON, Ky., Jan. 23, 2018 /PRNewswire/ -- The International Coach Federation (ICF) has finalized elections for its 2018 Global Board of Directors with the naming of this year's Secretary/Treasurer, Jean-François Cousin, MCC (Thailand) and Vice Chair, Sara Smith, MCC (USA). Supporting 2018 ICF Global Board Chair Tracy Sinclair, PCC (United Kingdom), Smith and Cousin will work with a global leadership team that includes ICF Global Board Directors José Augusto Figueiredo, ACC (Brazil); Rajat Garg, MCC (India), Wai K. Leong, MCC (Malaysia), Marcia Reynolds, Psy.D., MCC (USA), and Valerie Robert, ACC (Switzerland), along with Immediate Past Chair Hilary Oliver, PCC (United Kingdom). Cousin has been an Executive Coach for more than a decade. A longtime member of ICF Singapore, he has contributed to multiple coaching conferences and actively supported the launch of ICF's Bangkok Chapter. He served as a Director on the 2017 ICF Global Board. "I am honored and excited to serve as the Secretary/Treasurer for the 2018 ICF Global Board of Directors. Together with the Board and our global staff, I will strive to deliver increasing value to our members and other stakeholders, while expanding the scope and influence of our organization so that coaching becomes an integral part of a thriving society," Cousin said. Smith is CEO and Principal of Smith Leadership LLC. She served as a co-leader for ICF's Southeast Region and is a past member of the ICF Global Nominating Committee. She served as a Director on the 2017 ICF Global Board. "I am honored to have been chosen to be a part of the ICF Global leadership team. Members can count on my commitment to their success as well as to the orderly growth of our ICF and increasing the impact of coaching in the world," Smith said. Tracy Sinclair was elected 2018 ICF Global Board Chair in November 2017. She joined the ICF Global Board in January 2016 and most recently served as Secretary/Treasurer. She has extensive experience in the field of leadership development and is a past president of ICF United Kingdom. During the election process, the ICF Nominating Committee also slated her to serve a second two-year term as a Global Board Director. The International Coach Federation (ICF) is dedicated to advancing the coaching profession by setting high ethical standards, providing independent certification and building a worldwide network of credentialed coaches across a variety of coaching disciplines. ICF is active in representing all facets of the coaching industry, including Executive, Life Vision and Enhancement, Leadership, Relationship, and Career Coaching. Its 29,000-plus members located in more than 135 countries work toward the common goal of enhancing awareness of coaching, upholding the integrity of the profession, and continually educating themselves with the newest research and practices. ICF HEADQUARTERS CONTACT Abby Tripp Heverin +1.859.219.3529 189125@email4pr.com View original content: http://www.prnewswire.com/news-releases/international-coach-federation-global-board-elects-2018-officers-300585835.html SOURCE International Coach Federation

http://www.cnbc.com/2018/01/23/pr-newswire-international-coach-federation-global-board-elects-2018-officers.html

GRAINS-U.S. wheat rallies as temperatures fall; corn, soy firm

GRAINS-U.S. wheat rallies as temperatures fall; corn, soy firm Mark Weinraub SHARES (Updates with closing prices, adds details) CHICAGO, Jan 2 (Reuters) - U.S. wheat futures rallied 1.7 percent to their highest in nearly four weeks on Tuesday on concerns about sub-zero temperatures damaging the dormant crop in crucial growing areas of the United States, traders said. The gains in wheat spurred increases in corn futures. Soybeans also closed higher after trading both sides of unchanged during the session. Traders were also digesting the latest export data from the U.S. Agriculture Department on the first trading day of 2018. Wheat notched its biggest daily percentage gain since Nov. 22 as much of the crop was not protected by a blanket of snow to mitigate the freezing conditions. "Damage occurred in about a quarter of the hard red wheat belt in the central Plains, with about 5 percent of the soft red wheat belt in the Midwest seeing impacts," Don Keeney, senior agricultural meteorologist for Radiant Solutions, said in a note. Chicago Board of Trade soft red winter wheat for March delivery settled up 6-1/2 cents at $4.33-1/2 a bushel. Prices peaked at $4.36-1/4, matching a level last seen on Dec. 5. CBOT March corn futures ended 2-1/2 cents higher $3.53-1/4 a bushel. CBOT March soybeans gained 3 cents to close at $9.64-3/4 a bushel. Ongoing concerns that heat in Argentina will limit the size of that country's harvest supported soybean prices. "While Argentina did receive good coverage over the past week, temperatures could top 100 degrees (Fahrenheit) (37.8 C) again in some areas by the end of the week before rains return," said Bryce Knorr, analyst at Farm Futures. A shortfall in South American crop production could boost demand for U.S. exports and help alleviate the glut of domestic supplies following the recent bumper harvest. USDA said on Tuesday morning that weekly U.S. soybean export inspections were 1.139 million tonnes, in line with forecasts for 1.1 million to 1.3 million tonnes. Corn export inspections were 683,898 tonnes, also in line with trade estimates that ranged from 575,000 to 800,000 tonnes. Export inspections of wheat totalled 274,506 tonnes, below estimates for 300,000 to 600,000 tonnes. (Reporting by Mark Weinraub; Editing by Frances Kerry and Lisa Shumaker)

https://www.cnbc.com/2018/01/02/reuters-america-grains-u-s-wheat-rallies-as-temperatures-fall-corn-soy-firm.html

CANADA STOCKS-TSX slips as financials and industrials weigh

January 8, 2018 / 2:45 PM / Updated 26 minutes ago CANADA STOCKS-TSX slips as financials and industrials weigh Reuters Staff 1 Min Read TORONTO, Jan 8 (Reuters) - Canada’s main stock index dipped on Monday as financial and industrial shares lost ground, offsetting gains for the healthcare group, which climbed to its highest since March 2016. The Toronto Stock Exchange’s S&P/TSX composite index fell 15.12 points, or 0.09 percent, to 16,334.32, shortly after the open. Six of the index’s 10 main groups were lower. (Reporting by Fergal Smith Editing by Chizu Nomiyama)

https://www.reuters.com/article/canada-stocks-open/canada-stocks-tsx-slips-as-financials-and-industrials-weigh-idUSL1N1P30LQ

Pernod Ricard USA Names Jonas Tåhlin CMO Spirits USA & CEO Absolut Elyx USA

NEW YORK, Jan. 12, 2018 /PRNewswire/ -- Pernod Ricard USA today announced that Jonas Tåhlin CEO, Absolut Elyx, is appointed Chief Marketing Officer Spirits USA & Chief Executive Officer Absolut Elyx USA. He will remain a member of the North American Pernod Ricard executive team, reporting to Paul Duffy, Chairman and CEO. "We are thrilled to welcome Jonas into this important position. Jonas has been a key member of the Pernod Ricard USA team over the past 10 years and has extensive knowledge of the Pernod Ricard Group and Brand Companies. His experience, coupled with his expertise and familiarity of the US market, makes him the perfect candidate to lead spirits marketing at Pernod Ricard USA," said Paul Duffy, Chief Executive Officer of Pernod Ricard USA. Added Tåhlin, "I am delighted to take on this new challenge while retaining my US based responsibilities and commitment to driving continued success for Absolut Elyx which remains a top strategic priority." Since joining Pernod Ricard 10 years ago, Jonas has expanded key brands, built extensive knowledge of the Pernod Ricard portfolio, and has developed a deep understanding of the US market and its consumers. Jonas assumed the role of CEO of Absolut Elyx in 2014 and was named to the Pernod Ricard USA Executive Committee in 2016. Jonas earned a Master of Science degree in Marketing from the Stockholm School of Economics. He began his career at Procter & Gamble, where he held various marketing positions until joining The Absolut Company in 2006 as the Head of Western Europe. In 2008, after Absolut became part of Pernod Ricard, he served as Regional Vice President, Americas and subsequently Vice President, Marketing, Vodkas at Pernod Ricard USA. In July 2010, he became Vice President, Brand Development and then Vice President, Global Marketing at The Absolut Company. About Pernod Ricard USA® Pernod Ricard USA is the premium spirits and wine company in the U.S., and the largest subsidiary of Paris, France-based Pernod Ricard SA. The company's leading spirits and wines include such prestigious brands as Absolut® Vodka, , Avión® Tequila, Chivas Regal® Scotch Whisky, The Glenlivet® Single Malt Scotch Whisky, Jameson® Irish Whiskey, Kahlúa® Liqueur, Malibu®, Martell® Cognac, Olmeca Altos™ Tequila , Beefeater® Gin, Del Maguey® Single Village Mezcal, Monkey 47® Gin, Plymouth® Gin, Seagram's® Extra Dry Gin, Hiram Walker® Liqueurs, Lot No. 40® Canadian Whiskey, Midleton® Irish Whiskey, Powers® Irish Whiskey, Redbreast® Irish Whiskey, Smithworks® Vodka, Smooth Ambler® Whiskey, Pernod®, and Ricard®; such superior wines as Jacob's Creek®, Kenwood® Vineyards, Campo Viejo® and Brancott Estate®; and such exquisite champagnes and sparkling wines as Perrier-Jouët® Champagne, G.H. Mumm™ Champagne and Mumm Napa® sparkling wines. Pernod Ricard USA is based in New York, New York, and has roughly 650 employees across the country. Pernod Ricard USA urges all adults to consume its products responsibly and has an active campaign to promote responsible drinking. For more information on this, please visit: www.responsibility.org . View original content with multimedia: http://www.prnewswire.com/news-releases/pernod-ricard-usa-names-jonas-tahlin-cmo-spirits-usa--ceo-absolut-elyx-usa-300582037.html SOURCE Pernod Ricard USA

http://www.cnbc.com/2018/01/12/pr-newswire-pernod-ricard-usa-names-jonas-tahlin-cmo-spirits-usa-ceo-absolut-elyx-usa.html

Germania, calo inatteso vendite al dettaglio dicembre, -1,9% su mese

BERLIN, Jan 31 (Reuters) - Germany's Federal Statistics office reported the following retail sales data on Wednesday: RETAIL SALES DEC 2017 NOV 2017 DEC 2016 M/M pct change (real) - 1.9 1.9 1.1 M/M pct change (nominal) - 1.5 2.0 1.4 Y/Y pct change (real) - 1.9 4.3 2.2 Y/Y pct change (nominal) - 0.2 6.0 3.9 NOTE - Month-on-month changes were adjusted for calendar and seasonal factors, the Office said. The mid-range forecast of analysts polled by Reuters was for retail sales to fall by 0.3 percent month-on-month and to increase by 2.8 percent year-on-year . (Reporting by Berlin Newsroom)

https://it.reuters.com/article/itEuroRpt/idITL8N1PQ1RF

GLOBAL MARKETS-Stocks dip after rally as energy weighs; bond yields climb

* Treasury yields hit highest in 10-months * Wall Street dips as energy lags * Dollar remains soft (Updates with U.S. market open, changes byline, dateline; previous LONDON) By Chuck Mikolajczak NEW YORK, Jan 18 (Reuters) - World equity markets dipped on Thursday, pausing after a string of record highs, while a decline in oil prices dragged on energy shares and the U.S. stock market. Shares on Wall Street took a breather, after the best performance of the year for the Dow and benchmark S&P 500 saw the indexes close above the 26,000 mark and the 2,800 threshold, respectively, for the first time. Equities were held in check by the energy sector, which shed 0.48 percent, dragged lower by a 2.53 percent drop in Kinder Morgan in the wake of its quarterly results. Oil prices were weighed down by a reported rise in U.S. fuel stocks although losses were pared after EIA data showed a bigger-than-anticipated crude stock draw. Mixed economic reports gave investors reason for pause as weekly initial jobless claims hit a 45-year low but U.S. homebuilding recorded its biggest drop in just over a year. “We are coming off such great housing reports that one is a little bit of a head scratcher for people,” said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago. “After a big run-up like this, sometimes people are just looking for a reason to take some profits and with a lack of other things to point to, they can point to that.” The Dow Jones Industrial Average fell 82.66 points, or 0.32 percent, to 26,032.99, the S&P 500 lost 3.92 points, or 0.14 percent, to 2,798.64 and the Nasdaq Composite dropped 2.49 points, or 0.03 percent, to 7,295.79. MSCI’s gauge of stocks across the globe shed 0.11 percent, while the pan-European FTSEurofirst 300 index rose 0.09 percent. Investors have drawn inspiration from 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 12.2 percent, according to Thomson Reuters data through Wednesday morning. Yields on U.S. 10-year notes reached a 10-month high on Thursday after China reported fourth-quarter growth that accelerated for the first time in seven years. Underlining the momentum of the world economic expansion into the back end of last year, both Chinese fourth quarter growth of 6.8 percent and December industrial output growth of 6.2 percent were ahead of expectations. Benchmark 10-year notes last fell 9/32 in price to yield 2.6108 percent, from 2.578 percent late on Wednesday. The data drove European counterparts higher as well, with Germany’s 10-year bond yield near a 5-1/2 month top at 0.575 percent. The U.S. dollar fell as traders piled into the euro, yen, sterling and other major currencies amid worries over a possible U.S. government shutdown as lawmakers struggled to cobble together a federal budget deal. The dollar was last down about 0.4 percent with the euro up 0.35 percent to $1.2227. Republican lawmakers are scrambling to pass a temporary measure to keep the government open. A House vote on the funding extension is expected after 2:30 p.m. (1930 GMT). Editing by Bernadette Baum

https://www.reuters.com/article/global-markets/global-markets-stocks-dip-after-rally-as-energy-weighs-bond-yields-climb-idUSL8N1PD4RG

Alienation drives young Palestinians beyond politics

January 24, 2018 / 7:23 AM / Updated 7 hours ago Alienation drives young Palestinians beyond politics Nidal al-Mughrabi , Miriam Berger 6 Min Read GAZA/JERUSALEM (Reuters) - Confrontations between young Palestinians and Israeli soldiers have taken on a life of their own since Palestinian leaders called for protests against Donald Trump’s decision to treat Jerusalem as Israel’s capital. While Hamas, Fatah and other groups call for a weekly show of strength on Fridays, dozens of stone-throwers turn out along the border between Gaza and Israel every day, even when, as last Friday, a protest is called off due to bad weather. Some wear the colors of the various factions vying to lead the drive for a Palestinian state with East Jerusalem as its capital, but others have no affiliation, a sign of alienation that makes the political situation more volatile. “I am not against any of the factions, but we are grown-ups and are intelligent and we see that the ongoing division is weakening us all,” said a 28-year-old protester, referring to a renewed standoff between the Islamist Hamas and secular Fatah. The two groups have long been rivals and have failed to achieve any lasting unity agreement in years of off-and-on negotiations. Hamas seized control of the Gaza Strip from Fatah forces in 2007. Conscious of the growing influence of the youth due to their ballooning numbers, both Hamas and Fatah have recently tried to court them, holding large, separate meetings in Gaza to convince them to back reconciliation. But, as the daily scene on the border shows, young Palestinians are increasingly beyond reach, put off by a four-year stalemate in peace talks with Israel and little progress toward healing internal rifts. Their growing frustration surfaces in social media criticism of their leaders that is met by with an increasingly authoritarian response. The stone-throwers say the more alienated they feel, the greater the likelihood they will take to the streets to protest. “We are hungry and at home we have no electricity and our fathers have no jobs. This can’t bring about anything except an explosion,” said a 23-year-old unemployed history graduate who gave his name as Ahmed. Asked about the target of such an explosion, he said: “Against the Israeli occupation, because it bears prime responsibility for everything, even for the division between Hamas and Fatah.” Photo essay reut.rs/2E2SwWz ELECTIONS? Palestinian politicians have agreed to hold long-delayed elections in both territories this year as part of moves to end the schism that led to Hamas seizing control of Gaza in 2007 from the Fatah-led Palestinian Authority based in the larger West Bank. Whether they will materialize is unclear. Palestinian security officials have over the past few years questioned many people, sometimes for weeks, about social media posts criticizing Fatah and Hamas, according to Palestinian human rights groups and New York-based Human Rights Watch. A protester holds a Palestinian flag as he poses for a photograph at the scene of clashes with Israeli troops near the border with Israel, east of Gaza City, January 19, 2018. REUTERS/Mohammed Salem In Gaza, most complaints center on electricity shortages that date back 11 years, with both groups seen at fault. Slow unity efforts are another hot-button issue: some blame Hamas for balking at handing full control of Gaza to the Palestinian Authority while others criticize Fatah for retaining salary cuts in Gaza. Fatah is also faulted for the fact that its engagement in peace talks with Israel has brought little progress toward a Palestinian state and for keeping aging leaders in place. People aged 15 to 29 make up a third of the population of the Israeli-occupied West Bank and partially blockaded Gaza strip and a disproportionate number of the many unemployed. “There is no party that represents me or that I can say ‘this party speaks for me,'” said Oula Jabara, a university student in the occupied West Bank aged 20, who was a child when Mahmoud Abbas was elected president in 2005. Slideshow (7 Images) Almost three quarters of university students and 69 percent of all 18 to 22-year-olds want Abbas to resign, compared with 59 percent of Palestinians aged 50 and above, a December poll by the Palestinian Center for Policy and Survey Research showed. Hasan Faraj, the Secretary General of Fatah’s Youth Movement, declined to provide membership numbers, calling it an internal matter. He said the movement remained relevant with “tens of thousands” of official members, and more affiliated. The lack of transparency underscores a common complaint by young people that party leaders do not think they count. Of six people interviewed at protests against Trump’s Jerusalem move, none was prepared to say who they wanted to replace Abbas. “Whoever it is will just be like the last,” said Taha, a 33-year-old cook who declined to give his last name and wore a mask to avoid identification by Israeli authorities. “I don’t have faith in any of the parties.” In the absence of political dialogue either within Palestinian factions or between them and Israel, many young Palestinians suffer in silence and some take to the streets. Palestinian uprisings erupted in 1987 and in 2000, the latter after the failure of U.S.-sponsored peace talks. A build-up of grievances could spark a new one, but it would likely take broad public support among Palestinians and involvement by factions to keep it going. “Non-affiliated youth may fuel an uprising, a short but aggressive one, but they can’t sustain it,” said Palestinian political analyst Akram Attallah. Sixteen Palestinians and one Israeli have been killed in protests since Trump’s Dec. 6 announcement and hundreds of Palestinians have been injured, eight on the Gaza border on Friday alone, according to the territory’s health ministry. A 13-year-old boy on the border said he had been hit twice by rubber bullets. His mother had warned him a third hit could be fatal and his father had beaten him to try to keep him away. “I always find an excuse to slip out,” he said. “So what, I will be a martyr.” Editing by Jeffrey Heller and Philippa Fletcher

https://www.reuters.com/article/us-israel-palestinians-politics/alienation-drives-young-palestinians-beyond-politics-idUSKBN1FD0L1

France's Lactalis will pay damages in salmonella scare -report

* Salmonella found in Lactalis’ Craon plant, operations shutdown * Three dozen children have fallen ill, lawsuits loom * Global recall involves 83 countries By Richard Lough PARIS, Jan 14 (Reuters) - French dairy group Lactalis will pay damages to families affected by a Salmonella contamination at one of its plants producing baby milk, the company’s Chief Executive Emmanuel Besnier told the weekly Journal du Dimanche. On Friday, Lactalis widened a product recall to cover all infant formula made at its Craon plan, regardless of the manufacture date, in an effort to contain the fallout from a health scare that risks damaging France’s strategic agribusiness in overseas markets. Salmonella infections can be life-threatening and the families of three dozen children who have fallen sick in France as a result of the contaminated baby milk have announced a raft of lawsuits. “We will compensate every family which has suffered a prejudice,” Besnier told the newspaper in a rare interview published on Sunday. Besnier did not say how much the damages might amount to. Implementing the global recall will be challenging. Privately owned Lactalis, one of the world’s biggest dairies, exports its baby food products to 83 countries across Europe, Africa and Asia. The recall involves up to 12 million tins of baby milk. “It’s not easy to evaluate the number of items that need to be returned because we don’t know what’s been consumer already,” he said. Friday’s recall was the third in a month and Lactalis has come under fire for its botched response. Besnier also told the French weekly that the company had acted as quickly and efficiently as possible and denied slowing the process to curb losses. Besnier has also been criticised for failing to speak out publicly during the salmonella scare. While his family are France’s 11th wealthiest, according to a 2017 ranking by Challenges magazine, the dairy tycoon has long shunned the public limelight and schmoozing with politicians. His workers nickname him the “invisible man.” “We’re a discreet business. In this region there is a mentality of ‘work first, speak later,” he said. But he acknowledged lessons had been learned during the past few weeks. Lactalis has become an industry giant, with annual sales of 17 billion euros ($20.73 billion) and 18,900 employees across some 40 countries. He said the Craon plant was likely to remain closed for several months. The recall risks damaging Lactalis in China, a fast-growing market for baby food and dairy products where scares after melamine-tainted baby milk led to the deaths of six children in 2008. That scandal caused distrust in locally produced infant formula and benefited foreign suppliers such as Nestle, Danone and Lactalis. ($1 = 0.8201 euros) (Reporting by Richard Lough; editing by Diane Craft)

https://www.reuters.com/article/france-babymilk-recall/frances-lactalis-will-pay-damages-in-salmonella-scare-report-idUSL8N1P80OX

Donald M. Casey Jr. Appointed Chief Executive Officer of Dentsply Sirona Inc.

YORK, Pa., Jan. 17, 2018 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (NASDAQ:XRAY), The Dental Solutions Company™, today announced that its Board of Directors has appointed Donald M. Casey Jr. as Chief Executive Officer and as a member of the Company’s Board of Directors, effective February 12, 2018. Mr. Casey succeeds Mark A. Thierer, who served as Interim Chief Executive Officer since September 28, 2017. Mr. Thierer will continue to serve as Interim Chief Executive Officer through February 11, 2018 and will work closely with Mr. Casey to ensure a seamless transition. “Dentsply Sirona’s Board of Directors is excited to appoint Don as our CEO,” said Eric K. Brandt, Non-Executive Chairman of the Board. “After a comprehensive search and careful consideration, our Board unanimously concluded that Don has the right mix of skills, experience and talent to lead Dentsply Sirona to achieve its full potential. Don has deep experience in global manufacturing, product development and distribution of medical devices and technology. Further, he has a strong track record of managing global healthcare businesses and partnering with healthcare professionals, which will be critical to Dentsply Sirona as we continue to execute our growth strategy, accelerate innovation and advance dental care.” "I would like to thank the Board of Directors for placing their trust and confidence in me,” stated Don Casey. “It is truly an honor to serve as the next Chief Executive Officer of Dentsply Sirona. This is a company that brings over a century of deep understanding of the market, leading brands, an unparalleled track record for innovation and a recognized commitment to clinical education. I firmly believe that Dentsply Sirona is well positioned to serve our customers by bringing comprehensive solutions globally. I look forward to working with the thousands of dedicated employees in driving growth in this attractive market and building on our position as the recognized market leader in the dental industry, empowering dental professionals to provide better, safer and faster dental care worldwide.” Mr. Brandt added, “On behalf of the Dentsply Sirona Board of Directors, I would like to thank Mark Thierer for his outstanding service as Interim Chief Executive Officer. Under his leadership, the company made meaningful progress on a series of important initiatives, including the merger integration, advancing our operational objectives and setting the company up for long term success and value creation. We appreciate Mark’s contributions and we wish him the best in his future endeavors.” About Don Casey: Mr. Casey has more than 30 years of global health care experience and an outstanding track record in identifying and commercializing medical innovations. He most recently served as Chief Executive Officer of the Medical segment of Cardinal Health, a leading manufacturer and provider of medical products and supply chain services to hospitals, laboratories, physician offices, surgery centers and other sites of care across the health care continuum. Under Don Casey's leadership as the CEO of the Medical segment, he repositioned the segment and delivered consistent revenue and operating income growth, meaningful margin expansion and helped position the segment for sustainable growth going forward. Prior to Cardinal Health, Mr. Casey served as Chief Executive Officer of the Gary and Mary West Wireless Health Institute, a non-profit research organization focused on lowering the cost of health care through novel technology solutions from 2010 to 2012. Previously, Mr. Casey served as worldwide chairman for Johnson & Johnson's comprehensive care group and a member of the company's executive committee, where he oversaw its cardiovascular, diagnostic, diabetes and vision care franchises around the world. Mr. Casey began his career with Johnson & Johnson in 1985, advancing into executive positions throughout the company's consumer, pharmaceutical and medical device franchises. Mr. Casey serves on the boards of AdvaMed and the James Foundation. Previously, he also served on the boards of Surgical Specialties (formerly AngioTech) and West Corp. He earned a bachelor’s degree in finance and a master of business administration degree from the University of Notre Dame. About Dentsply Sirona: Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. As The Dental Solutions Company™, Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better, safer and faster dentistry. Dentsply Sirona’s global headquarters is located in York, Pennsylvania, and the international headquarters is based in Salzburg, Austria. The company’s shares are listed in the United States on NASDAQ under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products. Contact Information: Joshua Zable, IRC Vice President, Investor Relations +1-718-482-2184 joshua.zable@dentsplysirona.com Source:DENTSPLY SIRONA Inc.

http://www.cnbc.com/2018/01/17/globe-newswire-donald-m-casey-jr-appointed-chief-executive-officer-of-dentsply-sirona-inc.html

Mourinho signs contract extention at Man United until 2020

Mourinho signs contract extention at Man United until 2020 Thursday, January 25, 2018 - 00:54 Thu, 25 Jan, 2018 - (3:28) 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/2018/01/25/mourinho-signs-contract-extention-at-man?videoId=388672218

Hundreds of Kenyan opposition supporters gather for "swearing in" of leader

January 30, 2018 / 7:04 AM / Updated 14 minutes ago Kenya's government suspends broadcasters as Odinga takes symbolic oath George Obulutsa , Maggie Fick 5 Min Read NAIROBI (Reuters) - Kenyan authorities suspended television and radio stations on Tuesday as supporters of opposition leader Raila Odinga watched him take a symbolic presidential oath in a Nairobi park in a direct challenge to President Uhuru Kenyatta. Security forces made no move to stop the ceremony, which authorities had said would be illegal, but the government later declared the opposition “National Resistance Movement” a criminal group, paving the way for potential arrests. The movement is a loose grouping led by Odinga and other lawmakers that tried to rally support in November for a boycott of some products whose owners it says are aligned with government interests. Odinga’s supporters say he is Kenya’s legitimate leader and Kenyatta’s election was neither free nor fair. Kenyatta’s victory in August was annulled by the Supreme Court over irregularities but he won a re-run, which Odinga boycotted because some electoral commission reforms he demanded did not take place. Kenyatta was sworn in for a second term in November and state institutions report to him. “I, Raila Omolo Odinga, do swear that I will protect the nation as people’s president, so help me God,” Odinga, who held a bible, said to the cheers of more than 15,000 people in Uhuru Park, next to Nairobi’s main business district. During a speech lasting less than five minutes, Odinga declined to give details of his plans and said they would be disclosed in “due course”. In a possible sign of division within the opposition alliance, Odinga’s vice presidential candidate and two other senior leaders were absent. Odinga said the vice president would be sworn in at a later date. The attorney-general had warned that Odinga could be charged with treason if the event went ahead - an offence that can carry the death penalty. As people assembled, authorities forced independent television and radio stations reporting on the gathering off air, several outlets said - the most widespread censorship for a decade. “We have an illegitimate government,” Odinga told a local broadcaster by phone in an interview that was streamed online before the event. “Whenever there is a crisis, there is also an opportunity. This is an opportunity to bring the country together.” Kenyan opposition leader Raila Odinga of the National Super Alliance (NASA) holds a bible as he takes a symbolic presidential oath of office in Nairobi, Kenya January 30, 2018. REUTERS/Baz Ratner Odinga refused to be drawn on his plans for after his symbolic inauguration, repeatedly telling the interviewer, “Hold your horses” and “We’ll see”. Many of the protesters chanted pro-Odinga slogans, waved tree branches and blew horns and whistles. Afterwards several said they could not hear Odinga’s brief address. “I‘m happy this has happened but we are waiting for the next step forward but we don’t know what it is,” said nurse Grace Waithera. “I‘m very fed up with this ... government. If we can remove them we will.” Many of those at the rally had come from the capital’s slums. Odinga has strong support there and in the west and along the coast, areas where people have long felt ignored by central government and shut out of political patronage networks. Slideshow (7 Images) “PREVENTABLE CRISIS” “This is a lose-lose situation for both Kenyatta and Odinga and it was an entirely preventable crisis. It’s not clear where Odinga goes next from here,” said Murithi Mutiga, a senior analyst for the International Crisis Group. “Kenyatta as well - by resisting all attempts at dialogue, he has put himself in a position where he will continue to struggle to be seen as the president of all Kenyans.” Although the police had said they would prevent any illegal assembly, there were no uniformed police in the park and no anti-riot officers or vehicles were visible. Related Coverage Kenyan TV, radio station say gov't shut them down over opposition coverage Nearly 100 people were killed over the prolonged election period, mostly in clashes between Odinga supporters and police. By 10:20 a.m. (0720 GMT), a number of independently owned media outlets including Citizen radio and television, NTV and KTN said that authorities had forced them off air. A Communications Authority spokeswoman said it would comment later. On Monday, Linus Kaikai, chairman of the Kenya Editors’ Guild, said editors had been warned by authorities that they could be shut down if they covered the event. Humphrey Malalo and Katharine Houreld; Writing by Katharine Houreld; Editing by Matthew Mpoke Bigg

https://uk.reuters.com/article/uk-kenya-politics/hundreds-of-kenyan-opposition-supporters-gather-for-swearing-in-of-leader-idUKKBN1FJ0PS

Crystal Rock Holdings, Inc. Financial Results for its Fiscal Year Ended October 31, 2017

WATERTOWN, Conn., Jan. 24, 2018 (GLOBE NEWSWIRE) -- Crystal Rock Holdings, Inc. (NYSE MKT:CRVP) announced its financial results for its fiscal year that ended October 31, 2017. These results will be filed on Form 10-K with today. Operating income was $1.9 million for the fiscal year ending October 31, 2017 compared to $3.5 million for the same period last year. Net income in fiscal 2017 was $560 thousand compared to a net income of $1.2 million for fiscal year 2016. On a per share basis, net income was $.03 per fully diluted share in fiscal 2017, compared to $.06 per fully diluted share in fiscal 2016. Gross profit as a percentage of sales rose to 54% in fiscal 2017 compared to 51% in fiscal 2016. Gross profit dollars declined $1.3 million in fiscal 2017 going from $33.1 million in 2016 to $31.8 million in 2017 while sales declined $6.3 million from $65.3 million in fiscal 2016 to $59.1 million in fiscal 2017. Much of the sales reduction was attributable to lower sales of non-water related products, which is consistent with the Company’s strategy to focus on higher-margin categories. “We increased volume for our core product category sales in water and machine rentals. We will continue to transform our customer base and product mix to focus on key customer targets, higher margin and dollar categories and the ongoing exploration of adjacent markets and services,“ stated Peter Baker, President and CEO, Crystal Rock Holdings. “With a challenging economic business climate that includes declining demographics and regulatory and competitive pressures within our operating footprint, we also recognize it’s critically important our back office is efficiently aligned with our front end experience to maintain profitability while delivering the highest levels of service to our customers.” ABOUT CRYSTAL ROCK HOLDINGS, INC. Crystal Rock Holdings, Inc. (NYSE MKT:CRVP), operating through its subsidiary Crystal Rock LLC, markets and distributes water and coffee service, office supplies, refreshment beverages and other break room items to the commercial office and at home markets throughout the Northeast. For over 100 years, the company has provided quality and high value service, and it’s the largest independent delivery provider of its kind in the United States. It bottles and distributes natural spring water under the Vermont Pure ® brand, purified water with minerals added under the Crystal Rock ® Waters label and it roasts and packages coffee under its Cool Beans ® brand. Launched in 2010, the Crystal Rock Office® brand features traditional office supplies, break room items, furniture and janitorial and sanitation products. The majority of its sales are derived from a route distribution system that delivers water in 3- to 5-gallon reusable, recyclable bottles, and coffee in fractional packs or pods. Crystal Rock believes “Little Things Matter TM ” to the customer experience with high standards for delivering premium service excellence and results in customer productivity - at work or at home. Through technical innovation, a branded customer experience and a commitment to community and environment, Crystal Rock family values are integral to the relationships between employees and customers. More information is available at CrystalRock.com . (Audited) (Unaudited) Twelve Months Ended: Three Months Ended: October 31, October 31, October 31, October 31, 2017 2016 2017 2016 (000's $) Sales $ 59,070 $ 65,343 $ 15,000 $ 16,106 Income from operations $ 1,947 $ 3,523 $ 850 $ 788 Net Income $ 560 $ 1,202 $ 490 $ 263 Basic net earnings per share $ 0.03 $ 0.06 $ 0.02 $ 0.01 Diluted net earnings per share $ 0.03 $ 0.06 $ 0.02 $ 0.01 Basic Wgt. Avg. Shares Out. (000's) 21,358 21,358 21,358 21,358 Diluted Wgt Avg. Shares Out. (000's) 21,358 21,358 21,358 21,358 Note: This press release contains forward-looking statements including about our strategic direction, customer service, technology platforms and product channels. Such forward-looking statements involve risks, uncertainties and other factors, some of which are beyond our control, which may cause actual results to differ materially from those in the forward-looking statement. These risks, uncertainties, and factors include, but are not limited to, those factors set forth in our Annual Report for the Fiscal Year ended October 31, 2016 and subsequent filings we make with . We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release. Contact: Peter Baker, CEO 860-945-0661 Ext. 3001 David Jurasek, CFO 860-945-0661 Ext. 3004 Source:Crystal Rock Holdings Inc.

http://www.cnbc.com/2018/01/24/globe-newswire-crystal-rock-holdings-inc-announces-financial-results-for-its-fiscal-year-ended-october-31-2017.html

Dalit protests cause disruptions in India's financial capital

25 PM / Updated 40 minutes ago Dalit protests cause disruptions in India's financial capital MUMBAI (Reuters) - Thousands of Dalits, who rank at the lower end of India’s ancient caste hierarchy, disrupted traffic and threw stones at buses in Mumbai on Tuesday as they protested against violence in a nearby city in which a man was killed. Riot police walk past a damaged public bus during a protest in Mumbai, India January 2, 2018. REUTERS/Danish Siddiqui The protest came a day after celebrations by Dalits in Pune, 150 km (95 miles) from Mumbai, of the 200th anniversary of a battle they won, fighting alongside British colonial forces, against an upper caste ruler, were marred by clashes with right-wing Hindu groups. Those clashes resulted in the death of a 28-year-old man, according to the Maharashtra state government. It was not immediately clear which side the man was on. Tuesday, Dalit protesters threw stones at buses in various parts of Mumbai, while rail services on a main line across the city were disrupted, said a senior police official who declined to be identified as he is not authorised to speak to the media. “Traffic has been disrupted in the eastern part of the city after protesters blocked a few roads,” the official said. A police van carrying personnel drives past a damaged public bus during a protest in Mumbai, India January 2, 2018. REUTERS/Danish Siddiqui More than 100 protesters were arrested, and Dalit leaders have called for more protests in Mumbai and elsewhere in Maharashtra state on Wednesday. Government authorities appealed for calm. Members of the Dalit community are detained by police during a protest in Mumbai, India January 2, 2018. REUTERS/Danish Siddiqui Maharashtra Chief Minister Devendra Fadnavis has ordered a judicial inquiry into the clashes in Pune. India has about 200 million Dalits, who were previously known as untouchables, and many suffer social deprivation and economic exclusion. (This story has been refiled to fix typographical errors in paragraphs one and two.) Reporting by Rajendra Jadhav; Editing by Robert Birsel

https://uk.reuters.com/article/uk-india-protests-dalits/dalit-protests-cause-disruptions-in-indias-financial-capital-idUKKBN1ER11O

Head of security at Mexican refinery shot dead

57 AM / Updated 8 minutes ago Head of security at Mexican refinery shot dead Reuters Staff 2 Min Read MEXICO CITY (Reuters) - The head of security at one of Mexico’s six state-run oil refineries was shot dead on Thursday, becoming the latest victim of violent crime that has seeped into the industry. State prosecutors in the central state of Guanajuato said Tadeo Lineol Alfonzo was killed in the city of Salamanca, home to one of the refineries operated by state oil firm Pemex. Drug cartels seeking to diversify income streams have preyed upon Salamanca and other refineries, making fuel theft one of Mexico’s most pressing security dilemmas, sapping more than $1 billion in revenue from state coffers annually. Local media said that two unidentified gunmen on a motorcycle shot Alfonzo in his car early on Thursday as he was taking two of his children to school. The prosecutors’ office said it is investigating the case to identify the culprits. Workers at Mexican refineries are targeted by the criminal gangs, and sources familiar with the situation in Salamanca said Alfonzo had received threats before his death. Several Pemex workers have been killed in the city in recent years. Pemex condemned the killing in a statement, and the company’s chief executive officer Carlos Trevino expressed his condolences about the loss of Alfonzo. This week Reuters published an investigation into fuel theft and the problems it is causing in Mexico, which has sought to increase foreign investment by opening up the long-closed oil and gas industry to private firms. Guanajuato, a centre of industry in Latin America’s no. 2 economy, has recently suffered a substantial increase in murders, which hit a record high in Mexico in 2017. Reporting by Lizbeth Diaz and Ana Isabel Martinez; Editing by Sandra Maler

https://uk.reuters.com/article/uk-mexico-violence/head-of-security-at-mexican-refinery-shot-dead-idUKKBN1FF0AQ

Burgers and coffee will all be bought with cryptocurrency in five years, said Tim Draper

Big Macs and lattes will be purchased by cryptocurrencies sooner than you might think, according to venture capitalist and bitcoin fanatic Tim Draper. "In five years, if you go to a Starbucks or McDonald's and try to buy a burger or coffee with fiat currency, the person at the counter is going to laugh at you," Draper told an audience Friday in San Francisco. "There's a real need for a currency that's global." Draper's presentation at the Blockchain Connect Conference came by video and helped kick off a full day of panels and presentations from developers and investors. The event was so crowded that people were filling up the overflow room to listen on televisions, and Draper's video aired late because of technical difficulties. Draper, who backed companies including Skype and Baidu in the earlier days of the internet, has made a personal fortune on bitcoin and has more recently turned his attention to initial coin offerings. He said in May that he was participating in the Tezos ICO, one of the biggest crypto offerings of the past year. That deal has been plagued by conflict , with the founders stuck in a financial battle with one of the leaders of the project. Draper said there will be "fits and starts" in the emergence of blockchain but over time it will effect "industry after industry."

https://www.cnbc.com/2018/01/26/tim-draper-burgers-and-coffee-will-be-bought-with-crypto-in-5-years.html

BRIEF-Comdirect Bank 2017 Pre-Tax Profit Down At EUR 94.9 Mln

Jan 30 (Reuters) - Comdirect Bank AG: * 2017 PRE-TAX PROFIT: EUR94.9M * DIVIDEND TO BE PROPOSED AT ANNUAL GENERAL MEETING IS 25 CENTS PER SHARE, AS IN PREVIOUS YEAR. * FY ‍GROUP‘S TOTAL EARNINGS STOOD AT EUR379.4M (PREVIOUS YEAR: EUR381.6M)​ * ‍FY NET COMMISSION INCOME AT EUR 251.9M EXCEEDED PREVIOUS YEAR‘S FIGURE OF EUR 215.4M BY 17%.​ * FY DECLINE IN NET INTEREST INCOME AFTER PROVISIONS FOR POSSIBLE LOAN LOSSES OF 20% TO EUR95.6M * FY AFTER TAX PROFIT EUR 71.5 MILLION VERSUS EUR 92.5 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdynia Newsroom)

https://www.reuters.com/article/brief-comdirect-bank-2017-pre-tax-profit/brief-comdirect-bank-2017-pre-tax-profit-down-at-eur-94-9-mln-idUSFWN1PP06A

FACTBOX-Tennis-Maria Sharapova v Angelique Kerber

06 PM / Updated 17 minutes ago FACTBOX-Tennis-Maria Sharapova v Angelique Kerber Reuters Staff 3 Min Read Jan 19 (Reuters) - A look at the records of Russia's Maria Sharapova and German Angelique Kerber before their third round match at the Australian Open on Saturday (prefix number denotes seeding). MARIA SHARAPOVA Age: 30 WTA ranking: 48 (Highest ranking: 1) Grand slam titles: 5 (Australian Open 2008; French Open 2012, 2014; Wimbledon 2004; U.S. Open 2006) 2017 Australian Open performance: Did not play Best Australian Open performance: Winner 2008 2017 WTA win-loss record: 16-7 Former champion Sharapova has continued her strong start to the season and recorded commanding wins over German Tatjana Maria and Latvian Anastasija Sevastova in the opening two rounds. The Russian has lost to Kerber in their last two meetings but has the overall advantage, having ousted the German on four previous occasions. Sharapova has progressed to the fourth round of the Australian Open in each of her six appearances since 2011. 21-ANGELIQUE KERBER Age: 30 WTA ranking: 16 (Highest ranking: 1) Grand slam titles: 2 (Australian Open 2016; U.S. Open 2016) 2017 Australian Open performance: Fourth round Best Australian Open performance: Winner 2016 2017 WTA win-loss record: 28-23 Kerber's quest to move on from an underwhelming 2017 season has got off to a great start with the German marching to the Sydney International title this month. The 30-year-old started her Australian Open campaign with a dominant win over compatriot Anna-Lena Friedsam and marked her birthday with a victory over Croatian Donna Vekic in their second round match. HEAD-TO-HEAD (Sharapova 4 - Kerber 3) April 2015 - Kerber d Sharapova 2-6 7-5 6-1 (Stuttgart, clay) July 2014 - Kerber d Sharapova 7-6(4) 4-6 6-4 (Wimbledon, grass) April 2013 - Sharapova d Kerber 6-3 2-6 7-5 (Stuttgart, clay) Oct. 2012 - Sharapova d Kerber 6-0 3-0 Retired (Beijing, outdoor hard) May 2012 - Sharapova d Kerber 6-3 6-4 (Rome, clay) June 2012 - Kerber d Sharapova 6-4 6-4 (Paris, hard) Jan. 2012 - Sharapova d Kerber 6-1 6-2 (Melbourne, outdoor hard) (Compiled by Aditi Prakash in Bengaluru; Editing by Toby Davis)

https://uk.reuters.com/article/tennis-ausopen/factbox-tennis-maria-sharapova-v-angelique-kerber-idUKL3N1PE3L2

Western Digital Board Declares Dividend for Third Fiscal Quarter 2018

SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (NASDAQ: WDC) today announced that the board of directors declared a cash dividend for the quarter ending March 30, 2018, of $0.50 per share of common stock (the "cash dividend"). The cash dividend will be paid on April 16, 2018, to the company's stockholders of record as of March 30, 2018. The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's financing documents, and shall be in compliance with applicable law. The board retains the power to modify, suspend or cancel the company's dividend policy in any manner and at any time as it may deem necessary or appropriate in the future. About Western Digital ® Western Digital creates environments for data to thrive. The company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data. Western Digital ® data-centric solutions are marketed under the G-Technology™, HGST, SanDisk ® , Tegile™, Upthere™ and WD ® brands. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements concerning the company's dividend for the third fiscal quarter ending March 30, 2018. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including: volatility in global economic conditions; uncertainties with respect to the company’s business ventures with Toshiba; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; the development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; impacts of new tax legislation; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission (the “SEC”), including the company’s Form 10-Q filed with the SEC on Nov. 7, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. Western Digital, the Western Digital logo, G-Technology, HGST, SanDisk, Tegile, Upthere and WD are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. View source version on businesswire.com : http://www.businesswire.com/news/home/20180129005365/en/ Western Digital Corp. Media Contact: Jim Pascoe 408.717.6999 jim.pascoe@wdc.com or Investor Contact: Bob Blair 949.672.7834 robert.blair@wdc.com Source: Western Digital Corp.

http://www.cnbc.com/2018/01/29/business-wire-western-digital-board-declares-dividend-for-third-fiscal-quarter-2018.html

Suicide attack kills at least 11 at Yemen military checkpoint: officials

January 30, 2018 / 7:06 AM / in 8 minutes Suicide attack kills at least 11 at Yemen military checkpoint: officials Reuters Staff 1 Min Read ADEN (Reuters) - At least 11 people were killed on Tuesday in a suicide car bomb attack on a checkpoint in southeastern Yemen run by local forces backed by the United Arab Emirates, officials and residents said. Residents said gunmen opened fire on the checkpoint after a suicide bomber drove his booby-trapped car into the checkpoint northeast of Ataq, the capital of the province of Shabwa. They said at least 12 people were killed. Reporting by Mohammed Mukhashaf; Writing Sami Aboudi; Editing by Paul Tait

https://www.reuters.com/article/us-yemen-security-blast/suicide-attack-kills-at-least-11-at-yemen-military-checkpoint-officials-idUSKBN1FJ0QI

Commerce Bank of Temecula Valley Provides Shareholder Letter

MURRIETA, Calif.--(BUSINESS WIRE)-- Commerce Bank of Temecula Valley (CKTM OTC) provided the following letter to shareholders: January 3, 2018 Dear Commerce Bank of Temecula Valley Shareholder, Happy New Year! I am pleased to announce that Commerce Bank of Temecula Valley (“CBTV”) has entered into a Definitive Agreement to be acquired by Nano Financial Holdings, Inc. (“Nano”) whereby Nano will acquire all the outstanding shares of CBTV for total consideration of approximately $23.3 million. Under the terms of the agreement, CBTV shareholders will have the right to receive $14.41 per share in cash. In order to preserve and protect the goodwill of CBTV, in conjunction with entering into the Definitive Agreement Nano requested that certain accredited CBTV shareholders agree to exchange a portion of their CBTV shares of common stock for newly issued shares of Nano Class A Common Stock (“Exchange”) estimated to be not less than 25% and up to 49% of the total number of outstanding shares of CBTV common stock. Through the acquisition of the CBTV shares acquired for cash and in the Exchange, Nano will acquire 100% of the outstanding shares of CBTV. The Board of Directors of CBTV voted unanimously in favor of the acquisition, which is subject to customary shareholder and regulatory approval, and is expected to close mid-year 2018. Nano recently announced over $60 million in stock subscriptions raised through a private placement to accredited investors to provide capital for the acquisition and future growth. Your Board of Directors is very pleased to partner with Nano in this endeavor, and look forward to a smooth transition upon consummation of the transaction. Additional information and details on the acquisition will be communicated to shareholders and customers over the coming several months. If you have specific questions, please call me at (951) 973-7400. Sincerely, Scott R. Andrews President & Chief Executive Officer About Commerce Bank of Temecula Valley Commerce Bank of Temecula Valley is an independent community bank headquartered in Murrieta, California and was organized in 2007. More information about Commerce Bank of Temecula Valley may be obtained at www.commercebanktv.com . Certain statements in this letter to shareholders, including statements regarding the proposed acquisition of CKTM, and the intent, belief or current expectations of CKTM, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the completion of the acquisition, shareholder approval, local and national economy, the Bank's performance, loan performance, interest rates, and regulatory matters. View source version on businesswire.com : http://www.businesswire.com/news/home/20180103006261/en/ Commerce Bank of Temecula Valley Scott R. Andrews President & CEO (951) 973-7400 sandrews@commercebanktv.com Source: Commerce Bank of Temecula Valley

http://www.cnbc.com/2018/01/03/business-wire-commerce-bank-of-temecula-valley-provides-shareholder-letter.html

Microsoft tops Thomson Reuters top 100 global tech leaders list

(Reuters - Thomson Reuters Corp ( TRI.TO ) on Wednesday published its debut “Top 100 Global Technology Leaders” list with Microsoft Corp ( MSFT.O ) in the no. 1 spot, followed by chipmaker Intel Corp ( INTC.O ) and network gear maker Cisco Systems Inc ( CSCO.O ). FILE PHOTO: A Microsoft logo is seen a day after Microsoft Corp's $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, U.S., on June 14, 2016. REUTERS/Lucy Nicholson/File Photo The list, which aims to identify the industry’s top financially successful and organisationally sound organizations, features U.S. tech giants such as Apple Inc ( AAPL.O ) , Alphabet Inc ( GOOGL.O ) , International Business Machines Corp ( IBM.N ) and Texas Instruments Inc ( TXN.O ), among its top 10. Microchip maker Taiwan Semiconductor Manufacturing ( 2330.TW ), German business software giant SAP ( SAPG.DE ) and Dublin-based consultant Accenture ( ACN.N ) round out the top 10. The remaining 90 companies are not ranked, but the list also includes the world's largest online retailer Amazon.com Inc ( AMZN.O ) and social media giant Facebook Inc ( FB.O ). ( bit.ly/2B8eowE ) The results are based on a 28-factor algorithm that measures performance across eight benchmarks: financial, management and investor confidence, risk and resilience, legal compliance, innovation, people and social responsibility, environmental impact, and reputation. The assessment tracks patent activity for technological innovation and sentiment in news and selected social media as the reflection of a company’s public reputation. The set of tech companies is restricted to those that have at least $1 billion in annual revenue. According to the list, 45 percent of these 100 tech companies are headquartered in the United States. Japan and Taiwan are tied for second place with 13 companies each, followed by India with five tech leaders on the list. By continent, North America leads with 47, followed by Asia with 38, Europe with 14 and Australia with one. The strength of Asia highlights the growth of companies such as Tencent Holdings Ltd ( 0700.HK ), which became the first Asian firm to enter the club of companies worth more than $500 billion, and surpassed Facebook in market value in November. Reuters is the news and media division of Thomson Reuters, which produced the list. Reporting by Sonam Rai in Bengaluru, editing by Peter Henderson

https://in.reuters.com/article/thomsonreuters-tech/microsoft-tops-thomson-reuters-top-100-global-tech-leaders-list-idINKBN1F60FA

UPDATE 3-U.S. government shuts down as Trump feuds with Democrats

(Updates with House Republicans meeting, details throughout) WASHINGTON, Jan 20 (Reuters) - The second year of Donald Trump's presidency began on Saturday with the U.S. government in shutdown mode while lawmakers gathered in hopes of finding a compromise that would fund federal agencies. For the first time since October 2013 - when a similar standoff that lasted 16 days kept only essential agency operations running - federal workers were being told to stay at home or in some cases to work without pay until new funding is approved. Facing a political crisis that could have an impact on November's congressional elections, the Republican-controlled Senate and House of Representatives were holding rare weekend sessions on Saturday. But House Republicans, who gathered for closed meeting before their open session, were taking a hard line against Democrats, which could point to the possibility of a prolonged standoff. The government had been running on three consecutive temporary funding bills since the new fiscal year began in October. One senior House Republican, Greg Walden, told reporters the government would have to be reopened before discussions could advance on immigration - a main sticking point that led to the impasse. Democrats' demand of securing permanent legal protections for 700,000 young, undocumented immigrants as a condition for new government funding, Walden said, was "hostage taking in its worse form." Democrats counter that they have been pleading with Republicans for months to approve the immigration measure as a stand-alone bill and were rebuffed. One idea being floated by Republicans was to renew government funding through Feb. 8 to end the shutdown, while working to resolve other issues, ranging from immigration, military and non-military spending levels, disaster relief and some healthcare issues. IMMIGRATION HURDLE The partial government shutdown was triggered at midnight on Friday when the Senate failed to agree to a House-passed bill to fund the government through Feb. 16. It lacked immigration measures that Democrats insisted upon and also drew some Republican opposition. Despite tough words from some House Republicans, others were providing conflicting messages. Marc Short, the White House legislative affairs director, told reporters on Capitol Hill: "We are anxious to get a resolution on DACA. He was referring to the Deferred Action for Childhood Arrivals program that former created and Trump ended in September. It was providing protection from deportation for the illegal immigrants brought to the United States as children and now known as "Dreamers." Moderate Republican Representative Charlie Dent predicted the government shutdown will end only when bipartisan legislation is allowed to advance in Congress, even if it angers conservatives. "That's the price of leadership," he said. The shutdown began a year to the day after Trump was sworn in as president. His inability to cut a deal despite having a Republican majority in both houses of Congress marks arguably the most debilitating setback for his administration. In Twitter posts early on Saturday, Trump blamed Democratic lawmakers. "This is the One Year Anniversary of my Presidency and the Democrats wanted to give me a nice present," he said. "Democrats are far more concerned with illegal immigrants than they are with our great military or safety at our dangerous southern border," he said. "They could have easily made a deal but decided to play shutdown politics instead." Trump said the shutdown showed the need to win more Republican seats in 2018 mid-term elections. "We can then be even tougher on Crime (and Border), and even better to our Military & Veterans!" he said. House Democratic Leader Nancy Pelosi laid blame on Republicans in a floor speech on Saturday. "Despite controlling the House, the Senate and the White House the Republicans were so incompetent, so negligent that they couldn't get it together to keep government open," Pelosi said. FADED HOPE There had been modest hope on Friday when Democratic Senate Leader Chuck Schumer went to the White House to talk with Trump. One person familiar with the events said the two men agreed to seek a grand deal in which Democrats would win protections from deportation for some 700,000 young undocumented immigrants known as "Dreamers" and Trump would get more money for a border wall and tighter security to stem illegal immigration from Mexico. Despite frantic meetings that ran through midnight, a deal could not be reached. In a statement issued minutes before Friday's midnight deadline for a funding deal, Trump's White House said: "We will not negotiate the status of unlawful immigrants while Democrats hold our lawful citizens hostage over their reckless demands." The reference to "unlawful immigrants" was in stark contrast to earlier statements, including one in September in which Trump proclaimed, "We love the Dreamers." Democrats and many Republicans want to provide permanent legal status leading to citizenship for Dreamers. The immediate impact of the government shutdown was eased somewhat by its timing, starting on a weekend when most government employees normally do not work anyway. The Defense Department said its combat operations in Afghanistan and other military activities would continue, while federal law enforcement officers also would remain on duty. The State Department warned that it could have problems processing passports. Trump's administration also said it planned to keep national parks open with rangers and security guards on duty. The parks were closed during the last shutdown in 2013, which upset many tourists and resulted in the loss of $500 million in visitor spending in areas around the parks and at the Smithsonian museums. But without a quick deal, most day-to-day operations in the federal government will be disrupted. Hundreds of thousands of government employees will be put on temporary unpaid leave, including many of the White House's 1,700 workers. Parks and monuments remained open in the U.S. capital and on the National Mall preparations were under way for a second multi-city women's rights march. Some tourists appeared unaware of the shutdown while others expressed frustration at lawmakers' failure to reach a deal. "Its ironic that they get paid - meaning Congress - and the rest of the government doesnt, said Dawn Gaither, 57, a Washington teacher. Thats what we need to do, kick these guys in the tail and get them to work. (Reporting by Richard Cowan, Ginger Gibson, Ian Simpson and David Brunnstrom in Washington and Rich McKay in Atlanta; Editing by John Stonestreet and Bill Trott)

https://www.cnbc.com/2018/01/20/reuters-america-update-3-u-s-government-shuts-down-as-trump-feuds-with-democrats.html

CANADA STOCKS-TSX falls as Magna, Valeant weigh

January 25, 2018 / 3:40 PM / in 2 minutes CANADA STOCKS-TSX falls as Magna, Valeant weigh Reuters Staff (Adds details throughout on sectors and stocks; updates prices) * TSX falls 23.85 points, or 0.15 percent, to 16,260.36 * Eight of the index’s 10 main groups decline * Magna International falls 1.4 percent * Celestica declines 4.6 percent, Valeant down 4.7 percent TORONTO, Jan 25 (Reuters) - Canada’s main stock index fell on Thursday as Magna International Inc and Valeant Pharmaceuticals International Inc weighed, offsetting gains for energy shares as oil prices rose. * At 10:28 a.m. ET (15:28 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 23.85 points, or 0.15 percent, to 16,260.36. * One of the biggest drags on the index was Magna International, which fell 1.4 percent to C$72.35. The automotive supplier is among companies that could be impacted by negotiations to update the North American Free Trade Agreement. * U.S. negotiators have held firm in their demands for a wide-ranging overhaul of NAFTA, three sources close to the talks said on Thursday, raising questions about whether any real movement is happening at the latest negotiating round on the treaty. * Electronics manufacturing services company Celestica Inc fell 4.6 percent to C$12.99 after reporting fourth-quarter earnings after the bell on Wednesday that missed estimates. * Valeant added to Wednesday’s sharp losses. Its shares fell 4.7 percent to C$23.37. * The financials group, which accounts for more than one-third of the weight of the TSX, dipped 0.1 percent. * The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.4 percent. * Eight of the index’s 10 main groups fell. * The energy group rose 0.3 percent as oil prices climbed. * Canadian Natural Resources Ltd gained 0.8 percent to C$44.97, while U.S. crude prices were up 1.1 percent at $66.3 a barrel. (Reporting by Fergal Smith; Editing by Meredith Mazzilli)

https://www.reuters.com/article/canada-stocks/canada-stocks-tsx-falls-as-magna-valeant-weigh-idUSL2N1PK14G

Keep going to work, Britain's May tells public service employees at Carillion

LONDON (Reuters) - British Prime Minister Theresa May urged workers employed by failed services and construction company Carillion for public service contracts to keep going to work confident that they will be paid. “This has been a difficult time for a number of people concerned about their jobs, about public services and about their pensions,” she told parliament. “I want first of all ... to provide reassurance to all employees who were working on public services for Carillion that they should continue to turn up to work confident in the knowledge that they’ll be paid for the work they’re providing.” Reporting by William James, writing by Elizabeth Piper. Editing by Andrew MacAskill

https://www.reuters.com/article/us-carillion-restructuring-may/keep-going-to-work-britains-may-tells-public-service-employees-at-carillion-idUSKBN1F61GY

LeEco repays part of China Merchant Bank debt

January 8, 2018 / 3:59 AM / in 10 hours LeEco repays part of China Merchant Bank debt Reuters Staff 3 Min Read SHANGHAI (Reuters) - LeEco has repaid HK$807 million ($103.20 million) of a debt owed to China Merchants Bank and will seek to negotiate with the creditor to secure the release of some of its frozen assets, the wife of the embattled conglomerate’s founder said. FILE PHOTO: Jia Yueting, co-founder and head of Le Holdings Co Ltd, also known as LeEco and formerly as LeTV, poses for a photo in front of a logo of his company after a Reuters interview at LeEco headquarters in Beijing, China April 22, 2016. REUTERS/Jason Lee/File Photo Gan Wei, who has been entrusted by the founder Jia Yueting to exercise shareholder rights at LeEco’s listed units and to handle asset sales, said on her official Weibo account on Sunday that the debt and interest payments owed to China Merchants Bank had amounted to HK$1.4 billion. LeEco has repaid part of this debt after selling shares in its smartphone affiliate Coolpad Group, Gan said. The entertainment, electronics and electric vehicles group has struggled to pay its debts after rapid expansion into multiple sectors sparked a cash crunch and a plunge in the shares of a listed unit - smart TV firm Leshi Internet Information and Technology Corp. At its peak LeEco owed creditors 10 billion yuan. China Merchants Bank applied in July to have some of LeEco’s assets frozen, saying a LeEco unit, Leview Mobile HK Limited, had been late making interest payments on a loan. In a letter published last week, Jia referred to the loan as one of the key causes of the cash-flow problems. “Our next step is to actively seek communication with China Merchants Bank with the hope that we can get some of our frozen assets proportionately released so that we can repay more of our debts. We hereby request China Merchants Bank to understand and support us”, Gan said in the post. China Merchants did not immediately respond to a request for comment. Coolpad on Friday said its top shareholder Leview Mobile HK Ltd had reduced its stake to 10.95 percent from 28.78 percent by selling shares to Power Sun Ventures Limited. Gan also said 929 million yuan worth of assets had been transferred from LeEco’s e-commerce subsidiary LeMall to another of its core listed unit’s Tianjin-based subsidiaries, New Leshi Smart Home, to pay off some debts. The firm said last week that it was trying to get 3 billion yuan worth of funding. Founder Jia was placed on an official blacklist of debt defaulters in early December, a move taken by Chinese courts to put pressure on people and entities to repay debts, and was ordered by regulators to return to the country before the end of 2017 to address the mounting debt pile linked to his firms. But Jia defied the order to return, saying he needed to stay in the United States as a fundraising for his electric car business was making progress. He empowered his wife and brother, Jia Yuemin, to act on his behalf. ($1 = 7.8199 Hong Kong dollars) Reporting by Brenda Goh; Additional Reporting by Shu Zhang in BEIJING; Editing by Himani Sarkar

https://in.reuters.com/article/leeco-debt/leeco-repays-part-of-china-merchant-bank-debt-idINKBN1EX07C

Maduro says Venezuela will issue $5.9 billion in oil-backed cryptocurrency

January 6, 2018 / 1:35 AM / Updated 10 hours ago Maduro says Venezuela will issue $5.9 billion in oil-backed cryptocurrency Fabian Cambero , Girish Gupta 3 Min Read CARACAS (Reuters) - President Nicolas Maduro said on Friday that Venezuela would issue 100 million units of its new oil-backed cryptocurrency in coming days, although it is unclear whether any investors will want to purchase the “petro” at a time when the OPEC member is going through a deep economic crisis and its leftist government has little credibility. Venezuela's President Nicolas Maduro (R) speaks during a meeting with ministers in Caracas, Venezuela January 5, 2017. Miraflores Palace/Handout via REUTERS Socialist Maduro surprised many last month when he announced the launch of the cryptocurrency, to be backed by Venezuela’s oil, gas, gold and diamond reserves, as a way to circumvent U.S. sanctions that have hurt Venezuela’s access to international banks. Maduro specified on Friday that each unit of the currency would be pegged to Venezuela’s oil basket, which this week averaged $59.07 per barrel, according to the oil ministry. That implies the total cryptocurrency issued would be worth just over $5.9 billion. There is much confusion, however, over how the mechanism will work. Opposition politicians have already panned the project as a fanciful idea doomed to fail and useless at getting food to the millions who are suffering from product shortages and the world’s highest inflation. Maduro says the cryptocurrency will usher in the “21st century” and boost Venezuela’s access to hard currency. “I have ordered the emission of 100 million petros with the legal sustenance of Venezuela’s certified and legalized oil wealth,” said Maduro in a state television address. “Every petro will be equal in value to Venezuela’s oil barrel.” Venezuela has the world’s largest oil reserves, according to OPEC, and makes some 95 percent of its export revenue from oil. Critics say the government has squandered wealth from a decade-long oil boom and that without reforms any influx of resources will also be burned through. Strict currency controls have forced people onto the black market, on which a dollar can buy 137,000 bolivars. The country’s strongest official rate, meanwhile, is 10 bolivars per dollar. That fall in value combined with money printing by the central bank is behind what many analysts are measuring as hyperinflation. Local economic consultancy Ecoanalitica said prices rose more than 80 percent in December alone. Money supply, according to the central bank, was up more than 1,000 percent last year. Maduro said the cryptocurrency issuance would take place through virtual exchanges in the coming day, but did not give further details. Cryptocurrencies are decentralized and their success relies on transparency, clear rules and equal treatment of all involved. Writing by Girish Gupta; Editing by Alexandra Ulmer and Lisa Shumaker

https://uk.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUKKBN1EV02S

Bluerock Residential Growth REIT (BRG) Announces First Quarter 2018 Series B Preferred Stock Dividends

NEW YORK, Jan. 12, 2018 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) (the "Company") today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends on the Company's Series B Redeemable Preferred Stock (the "Series B Preferred Stock") for the first quarter of 2018, equal to a quarterly rate of $15.00 per share (the "Series B Preferred Dividends"). The Series B Preferred Dividends will be payable in cash as follows: $5.00 per share to be paid on Monday, February 5, 2018 to Series B Preferred stockholders of record as of Thursday, January 25, 2018; $5.00 per share to be paid on Monday, March 5, 2018 to Series B Preferred stockholders of record as of Friday, February 23, 2018; and $5.00 per share to be paid on Thursday, April 5, 2018 to Series B Preferred stockholders of record as of Friday, March 23, 2018. About Bluerock Residential Growth REIT, Inc. Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through Core+ improvements to properties and to operations. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. For more information, please visit our website at: www.bluerockresidential.com. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in Item 1A of the Company's Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission ("SEC") on February 22, 2017,and subsequent filings by the Company with the SEC. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. View original content with multimedia: http://www.prnewswire.com/news-releases/bluerock-residential-growth-reit-brg-announces-first-quarter-2018-series-b-preferred-stock-dividends-300582043.html SOURCE Bluerock Residential Growth REIT, Inc.

http://www.cnbc.com/2018/01/12/pr-newswire-bluerock-residential-growth-reit-brg-announces-first-quarter-2018-series-b-preferred-stock-dividends.html

Jillian Manus of Structure Capital on ICOs, blockchain, crytpocurrency

Unregulated investing opportunities, like initial coin offerings, may prove a risky prospect for entrepreneurs — but that doesn't mean that all bitcoin-related products are bad, tech investor Jillian Manus told CNBC's " Squawk Alley " on Tuesday. "It's dangerous, it's very dangerous. On one hand, we want to be supportive of this, because this gives opportunities, definitely, to fuel new companies. But on the other hand, there's a lot of irresponsibilities that go with this. There's a lot of fraud that's being created," Manus said. "I think this is the Wild West without a sheriff," she later added. Initial coin offerings are just one of many applications being tested for cryptocurrencies like bitcoin. In an initial coin offering , investors are given a token of digital currency in exchange for their investment. "ICOs — if they're based on just a white paper, and they're just raised on that — then that's a problem and that's a scam," Manus said. "But on the other hand, if they have SEC filings, if they have [due diligence] packages, if there's some product that we can invest in — then I think that's an interesting opportunity." Manus is a general partner at Structure Capital and has made an impact in industries including venture capital, marketing, media and philanthropy. Structure Capital invests in start-ups that take advantage of wasted resources , and blockchain she said, has many "effective, efficient and legitimate" applications. Blockchain — a technology that underlies many cryptocurrencies — is gaining popularity as a tool in the mainstream business community, thanks to its ability to create immutable ledgers. For instance, Manus said, Kodak announced earlier this month it would release a new platform for digital photography bolstered by blockchain — solving the societal problem of dwindling payment opportunities for photographers. There could be "tremendous" potential for healthcare applications of blockchain, Manus said, pointing to the growing focus on health technology at Alphabet 's Verily and Amazon . But cryptocurrencies on the whole? Maybe not the most innovative application, she said. Manus' comments come after an overnight plunge in the price of bitcoin future contracts . Cryptocurrency prices have exploded over the past year — but the decentralized digital cash is also volatile and subject to intense regulatory scrutiny. Manus has become a well-known figure among start-ups in Silicon Valley, thanks to her coveted charity balls and her appearances on the podcast " The Pitch ." She noted that companies like eBay, YouTube and Instagram were also tough sells to investors at the time. "There's a danger in these young start-ups with no responsibility," Manus said. "Until we have some sort of understanding of the applications — of course there's going to be volatility. But coming from Silicon Valley, everything that's innovative is criticized at first."

https://www.cnbc.com/2018/01/16/jillian-manus-of-structure-capital-on-icos-blockchain-crytpocurrency.html

Citizens Financial Services, Inc. Reports Unaudited Full Year and Fourth Quarter 2017 Financial Results

MANSFIELD, Pa., Jan. 31, 2018 /PRNewswire/ -- Citizens Financial Services, Inc. (OTC Pink: CZFS), parent company of First Citizens Community Bank, released today its unaudited financial results for the three months and year ended December 31, 2017. Highlights Net income was $13.0 million for 2017, which is 3.1% higher than 2016's net income. Fourth quarter and full year income was negatively impacted by an increase in income tax expense. The Tax Cuts and Jobs Act, enacted on December 22, 2017, lowered the federal corporate income tax rate from 34% to 21% effective January 1, 2018. As a result, the carrying value of net deferred tax assets was reduced, which increased income tax expense by $1.5 million, or $.44 per share. Net interest income before the provision for loan losses of $42.3 million for the year ended December 31, 2017 was an increase of $4.3 million, or 11.3%, compared to 2016. Net organic loan growth totaled $161.2 million in 2017, or 20.2%. Return on average equity for the three months (annualized) and the year ended December 31, 2017 was 7.82% and 10.04%, compared to 10.12% and 10.24% for the three months (annualized) and the year ended December 31, 2016. Excluding the impact of the increase in tax expense, the return on average equity for the three months (annualized) and the year ended December 31, 2017 would have been 12.31% and 11.22%, respectively, on a non-GAAP basis. Return on average assets for the three months (annualized) and the year ended December 31, 2017 was 0.80% and 1.03%, compared to 1.05% and 1.06% for the three months (annualized and the year ended December 31, 2016. Excluding the impact of the increase in tax expense, the return on average assets for the three months (annualized) and the year ended December 31, 2017 would have been 1.26% and 1.16%, respectively, on a non-GAAP basis. The acquisition of a full service branch in State College, Pennsylvania was completed in December resulting in an increase in loans and deposits of $39.8 million and $37.9 million, respectively. 2017 Compared to 2016 For 2017, net income totaled $13,025,000 which compares to net income of $12,638,000 for 2016, an increase of $387,000 or 3.1%. Basic earnings per share of $3.74 for 2017 compares to $3.60 for 2016. Excluding the write-down of the net deferred tax assets, 2017 net income would have been $14.6 million, or $4.18 per share on a non-GAAP basis. Net interest income before the provision for loan loss for 2017 totaled $42,254,000 compared to $37,964,000 for 2016, resulting in an increase of $4,290,000, or 11.3%. Average interest bearing assets increased $69.2 million in 2017 compared to last year. Average loans increased $157.5 million while average investment securities decreased $75.4 million. The net interest margin for 2017 was 3.80% compared to 3.68% for 2016. The provision for loan losses for 2017 was $2,540,000 compared to $1,520,000 for 2016, an increase of $1,020,000. The increased provision primarily reflects the loan growth experienced during 2017. Total non-interest income was $8,656,000 for 2017 compared to $7,899,000 for 2016, an increase of $757,000. Investment security gains increased $780,000 compared to last year. As a result of the pending adoption of accounting standard ASU 2016-01, the Company chose to sell a significant portion of its equity securities portfolio in the fourth quarter, which resulted in realized gains of $1.0 million before tax. Total non-interest expenses for 2017 were $29,314,000 compared to $28,671,000 for 2016, which is an increase of $643,000, or 2.2%. Salaries and benefits increased $1,046,000 primarily due to the increased costs associated with the additional lending teams hired during the second and third quarters of 2016, branch and loan production office expansion, and normal employee merit increases. Other expenses decreased $522,000, which was primarily due to a decrease in the losses associated with fraudulent charges from compromised customer accounts. The provision for income taxes increased $2,997,000 in 2017 to $6,031,000. A portion of the increase, $1,531,000 is attributable to the Tax Cuts and Jobs Act and the immediate write-down of deferred tax assets due to the change in the corporate tax rate. The remaining increase is attributable to the increase in income before the provision of income taxes of $3,384,000 as well as a tax credit being fully utilized in 2016. Fourth Quarter of 2017 Compared to the Fourth Quarter of 2016 For the three months ended December 31, 2017, net income totaled $2,604,000 which compares to net income of $3,171,000 for the fourth quarter of 2017, a decrease of $567,000, or 17.9%. Basic earnings per share of $0.75 for the fourth quarter of 2017 compares to $.91 for the same period last year. Annualized return on equity for the three months ended December 31, 2017 and 2016 was 7.82% and 10.12%, while annualized return on assets was 0.80% and 1.05%, respectively. Earnings per share and the annualized return equity and assets were significantly impacted by the write-down of net deferred tax assets associated with the Tax Cuts and Jobs Act. Net interest income before the provision for loan loss was $11,236,000 compared to $9,876,000 for the fourth quarter last year, an increase of $1,360,000, or 13.8%. Average interest bearing assets increased $92.1 million, including an increase in average loans of $165.3 million. This was offset by a decrease in average investment securities of $77.0 million. The net interest margin for the three months ended December 31, 2017 was 3.88% compared to 3.75% for the same period in 2016. Total non-interest income was $2,812,000 for the three months ended December 31, 2017, which is $720,000 more than the comparable period in 2016. Investment security gains increased $731,000 primarily as a result of the sales from the Company's equity securities portfolio. Total non-interest expenses for the three months ended December 31, 2017 totaled $7,710,000 compared to $7,258,000 for the same period in 2016. Increases were experienced in salary and benefit costs as a result of an increase in profit sharing and health care expenses. ORE expenses increased as a result of an increase in legal fees associated with a customer's bankruptcy and other general expense items. The provision for income taxes increased $2,145,000 for the three months ended December 31, 2017, to $2,934,000, of which $1,531,000 is attributable to the Tax Cuts and Jobs Act and the immediate write-down of deferred tax assets due to the change in the corporate tax rate. The remaining increase is attributable to the increase in income before the provision of income taxes of $1,578,000. Balance Sheet and Other Information: At December 31, 2017, total assets were $1.36 billion, compared to $1.22 billion at December 31, 2016. Available for sale securities of $254.8 million at December 31, 2017 decreased $59.2 million from December 31, 2016. The decrease was utilized to fund growth in the loan portfolio, which is part of the balance sheet strategy to shift interest-earning assets into loans. Net loans as of December 31, 2017 totaled $989.3 million and have increased $198.6 million from December 31, 2016. The acquisition of the branch in State College resulted in an increase in loans of $39.8 million, with the remaining increase attributable to organic growth. The organic growth was driven primarily by agricultural real estate loans and other agricultural loans. The allowance for loan losses totaled $11,190,000 at December 31, 2017, which is an increase of $2,304,000 from the amount at December 31, 2016. The increase is due to recording a provision for loan losses of $2,540,000 and recoveries of $77,000, offset by charge-offs of $213,000. Net charge-offs for 2017 were .03%. The allowance as a percent of total loans was 1.12% as of December 31, 2017 compared to 1.11% as of December 31, 2016. Deposits have increased $99.4 million from December 31, 2016, to $1.1 billion at December 31, 2017, of which $37.9 million of the growth is attributable to the State College branch acquisition. Borrowed funds have increased $35.0 million from December 31, 2016 to $115.0 million at December 31 2017. Stockholders' equity totaled $129.0 million at December 31, 2017, compared to $123.3 million at December 31, 2016, an increase of $5.7 million. The increase was attributable to net income for the year ended December 31, 2017 totaling $13.0 million, offset by cash dividends for the year totaling $5.9 million. As a result of sales and changes in interest rates impacting the fair value of investment securities, the unrealized gain on available for sale investment securities decreased $1.5 million from December 31, 2016. Dividend Declared On December 5, 2017, the Board of Directors declared a cash dividend of $0.43 per share, which was paid on December 29, 2017 to shareholders of record at the close of business on December 15, 2017. The quarterly cash dividend is an increase of 7.5% over the regular cash dividend of $0.40 per share declared one year ago, as adjusted for the 5% stock dividend declared in June 2017. Citizens Financial Services, Inc. has nearly 1,700 shareholders, the majority of whom reside in markets where its offices are located. Note: A reconciliation of the non-GAAP financial measures of performance and earnings as a result of the additional tax charge related to The Tax Cuts and Jobs Act included above to the comparable GAAP financial measures is included at the end of the press release. Management believes disclosure of 2017 earnings results, adjusted to exclude the additional income tax provision as a result of The Tax Cut and Jobs Act, provides useful information to investors for comparison with 2016 results. Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are not historical facts; rather, they are statements based on the Company's current expectations regarding its business strategies and their intended results and its future performance. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions. Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company's actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed periodically in the Company's filings with the Securities and Exchange Commission. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release or made elsewhere periodically by the Company or on its behalf. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation. CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED FINANCIAL HIGHLIGHTS (UNAUDITED) (in thousands, except share data) As of or For The As of or For The Three Months Ended Year Ended December 31 December 31 2017 2016 2017 2016 Income and Performance Ratios Net Income $ 2,604 $ 3,171 $ 13,025 $ 12,638 Return on average assets (annualized) 0.80% 1.05% 1.03% 1.06% Return on average equity (annualized) 7.82% 10.12% 10.04% 10.24% Return on average tangible equity (annualized) (b) 9.49% 12.40% 12.22% 12.62% Net interest margin (tax equivalent) 3.88% 3.75% 3.80% 3.68% Earnings per share - basic $ 0.75 $ 0.91 $ 3.74 $ 3.60 Earnings per share - diluted $ 0.75 $ 0.91 $ 3.74 $ 3.60 Cash dividends paid per share $ 0.430 $ 0.400 $ 1.670 $ 1.583 Asset quality Allowance for loan and lease losses $ 11,190 $ 8,886 $ 11,190 $ 8,886 Non-performing assets $ 11,845 $ 12,895 $ 11,845 $ 12,895 Allowance for loan and lease losses/total loans 1.12% 1.11% 1.12% 1.11% Non-performing assets to total loans 1.18% 1.61% 1.18% 1.61% Annualized net charge-offs (recoveries) to total loans 0.02% 0.03% 0.03% -0.04% Equity Book value per share $ 37.81 $ 35.77 $ 37.81 $ 35.77 Tangible Book value per share (b) $ 30.73 $ 29.12 $ 30.73 $ 29.12 Market Value (Last trade of month) $ 63.00 $ 53.00 $ 63.00 $ 53.00 Common shares outstanding 3,486,874 3,319,704 3,486,874 3,319,704 Number of shares used in computation - basic 3,483,164 3,493,375 3,481,366 3,507,497 Number of shares used in computation - diluted 3,483,577 3,493,418 3,483,090 3,509,053 Other Total Risk Based Capital Ratio (a) 13.21% 14.93% 13.21% 14.93% Tier 1 Risk Based Capital Ratio (a) 12.04% 13.81% 12.04% 13.81% Common Equity Tier 1 Risk Based Capital Ratio (a) 11.27% 12.89% 11.27% 12.89% Leverage Ratio 9.18% 9.46% 9.18% 9.46% Average Full Time Equivalent Employees 251.6 255.3 252.8 252.1 Loan to deposit Ratio 90.17% 79.34% 90.17% 79.34% Balance Sheet Highlights December 31 December 31 2017 2016 Assets $ 1,361,886 $ 1,223,018 Investment securities - Available for sale 254,782 314,017 Loans (net of unearned income) 1,000,525 799,611 Allowance for loan losses 11,190 8,886 Deposits 1,104,943 1,005,503 Stockholders' Equity 129,011 123,268 (a) Presented as projected for December 31, 2017 and actual for the remaining period (b) See reconcilation of Non-GAAP measures at the end of the press release CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED BALANCE SHEET (UNAUDITED) December 31 December 31 (in thousands except share data) 2017 2016 ASSETS: Cash and due from banks: Noninterest-bearing $ 16,347 $ 16,854 Interest-bearing 2,170 900 Total cash and cash equivalents 18,517 17,754 Interest bearing time deposits with other banks 10,283 6,955 Available-for-sale securities 254,782 314,017 Loans held for sale 1,439 1,827 Loans (net of allowance for loan losses: $11,190 at December 31, 2017; $8,886 at December 31, 2016) 989,335 790,725 Premises and equipment 16,523 17,030 Accrued interest receivable 4,196 4,089 Goodwill 23,296 21,089 Bank owned life insurance 26,883 26,223 Other intangibles 1,953 2,096 Unsettled security sales - 7,759 Other assets 14,679 13,454 TOTAL ASSETS $ 1,361,886 $ 1,223,018 LIABILITIES: Deposits: Noninterest-bearing $ 171,840 $ 147,425 Interest-bearing 933,103 858,078 Total deposits 1,104,943 1,005,503 Borrowed funds 114,664 79,662 Accrued interest payable 897 720 Other liabilities 12,371 13,865 TOTAL LIABILITIES 1,232,875 1,099,750 STOCKHOLDERS' EQUITY: Preferred Stock $1.00 par value; authorized 3,000,000 shares; none issued in 2017 or 2016 - - Common stock $1.00 par value; authorized 15,000,000 shares at December 31, 2017 and December 31, 2016; issued 3,869,939 at December 31, 2017 and 3,704,375 at December 31, 2016 3,870 3,704 Additional paid-in capital 51,108 42,250 Retained earnings 89,982 91,278 Accumulated other comprehensive loss (3,398) (1,392) Treasury stock, at cost: 383,065 shares at December 31, 2017 and 384,671 shares at December 31, 2016 (12,551) (12,572) TOTAL STOCKHOLDERS' EQUITY 129,011 123,268 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,361,886 $ 1,223,018 CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) Three Months Ended Year Ended December 31, December 31, (in thousands, except per share data) 2017 2016 2017 2016 INTEREST INCOME: Interest and fees on loans $ 11,447 $ 9,457 $ 42,127 $ 35,844 Interest-bearing deposits with banks 57 36 186 221 Investment securities: Taxable 754 887 3,095 3,687 Nontaxable 557 711 2,414 2,970 Dividends 80 78 271 283 TOTAL INTEREST INCOME 12,895 11,169 48,093 43,005 INTEREST EXPENSE: Deposits 1,227 1,053 4,625 4,247 Borrowed funds 432 240 1,214 794 TOTAL INTEREST EXPENSE 1,659 1,293 5,839 5,041 NET INTEREST INCOME 11,236 9,876 42,254 37,964 Provision for loan losses 800 750 2,540 1,520 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,436 9,126 39,714 36,444 NON-INTEREST INCOME: Service charges 1,133 1,116 4,456 4,461 Trust 159 154 755 693 Brokerage and insurance 176 188 635 766 Gains on loans sold 195 224 578 449 Investment securities gains, net 831 100 1,035 255 Earnings on bank owned life insurance 161 172 660 688 Other 157 138 537 587 TOTAL NON-INTEREST INCOME 2,812 2,092 8,656 7,899 NON-INTEREST EXPENSES: Salaries and employee benefits 4,576 4,343 17,456 16,410 Occupancy 509 515 1,988 1,900 Furniture and equipment 159 152 603 644 Professional fees 248 258 1,102 1,094 FDIC insurance 90 80 385 572 Pennsylvania shares tax (62) 60 705 690 Amortization of intangibles 74 81 297 327 ORE expenses 312 155 655 389 Other 1,804 1,614 6,123 6,645 TOTAL NON-INTEREST EXPENSES 7,710 7,258 29,314 28,671 Income before provision for income taxes 5,538 3,960 19,056 15,672 Provision for income taxes 2,934 789 6,031 3,034 NET INCOME $ 2,604 $ 3,171 $ 13,025 $ 12,638 PER COMMON SHARE DATA: Net Income - Basic $ 0.75 $ 0.91 $ 3.74 $ 3.60 Net Income - Diluted $ 0.75 $ 0.91 $ 3.74 $ 3.60 Cash Dividends Paid $ 0.430 $ 0.400 $ 1.670 $ 1.583 Number of shares used in computation - basic 3,483,164 3,493,375 3,481,366 3,507,497 Number of shares used in computation - diluted 3,483,577 3,493,418 3,483,090 3,509,053 CITIZENS FINANCIAL SERVICES, INC. QUARTERLY CONDENSED, CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED) (in thousands, except share data) Three Months Ended, Dec 31 Sep 30 June 30 March 31, Dec 31 2017 2017 2017 2017 2016 Interest income $ 12,895 $ 12,120 $ 11,778 $ 11,300 $ 11,169 Interest expense 1,659 1,503 1,374 1,303 1,293 Net interest income 11,236 10,617 10,404 9,997 9,876 Provision for loan losses 800 500 625 615 750 Net interest income after provision for loan losses 10,436 10,117 9,779 9,382 9,126 Non-interest income 1,981 1,912 1,865 1,863 1,992 Investment securities gains, net 831 9 23 172 100 Non-interest expenses 7,710 7,247 7,166 7,191 7,258 Income before provision for income taxes 5,538 4,791 4,501 4,226 3,960 Provision for income taxes 2,934 1,141 1,033 923 789 Net income $ 2,604 $ 3,650 $ 3,468 $ 3,303 $ 3,171 Earnings Per Share Basic $ 0.75 $ 1.05 $ 1.00 $ 0.94 $ 0.91 Earnings Per Share Diluted $ 0.75 $ 1.05 $ 1.00 $ 0.94 $ 0.91 CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED AVERAGE BALANCES, INTEREST, YIELDS AND RATES, AND NET INTEREST MARGIN ON A FULLY TAX-EQUIVALENT BASIS (UNAUDITED) Three Months Ended December 31 2017 2016 Average Average Average Average Balance (1) Interest Rate Balance (1) Interest Rate (dollars in thousands) $ $ % $ $ % Short-term investments: Interest-bearing deposits at banks 8,408 3 0.14 7,718 1 0.05 Interest bearing time deposits at banks 10,146 54 2.09 6,956 34 1.92 Total investment securities 254,277 1,678 2.64 331,312 2,042 2.47 Loans, net of discount (2)(3)(4) 939,938 11,796 4.98 774,635 9,787 5.03 Total interest-earning assets 1,212,769 13,531 4.43 1,120,621 11,864 4.21 Cash and due from banks 7,142 7,135 Bank premises and equipment 16,583 17,123 Other assets 66,145 64,333 Total non-interest earning assets 89,870 88,591 Total assets 1,302,639 1,209,212 LIABILITIES AND STOCKHOLDERS' EQUITY Interest-bearing liabilities: NOW accounts 326,133 310 0.38 301,073 231 0.31 Savings accounts 181,784 49 0.11 169,424 45 0.11 Money market accounts 130,895 181 0.55 119,185 130 0.43 Certificates of deposit 260,090 687 1.05 265,489 646 0.97 Total interest-bearing deposits 898,902 1,227 0.54 855,171 1,052 0.49 Other borrowed funds 97,867 432 1.75 68,456 241 1.40 Total interest-bearing liabilities 996,769 1,659 0.66 923,627 1,293 0.56 Demand deposits 157,482 146,876 Other liabilities 15,159 13,315 Total non-interest-bearing liabilities 172,641 160,191 Stockholders' equity 133,229 125,394 Total liabilities & stockholders' equity 1,302,639 1,209,212 Net interest income 11,872 10,571 Net interest spread (5) 3.77% 3.65% Net interest income as a percentage of average interest-earning assets 3.88% 3.75% Ratio of interest-earning assets to interest-bearing liabilities 122% 121% (1) Averages are based on daily averages. (2) Includes loan origination and commitment fees. (3) Tax exempt interest revenue is shown on a tax equivalent basis for proper comparison using a statutory federal income tax rate of 34%. (4) Income on non-accrual loans is accounted for on a cash basis, and the loan balances are included in interest-earning assets. (5) Interest rate spread represents the difference between the average rate earned on interest-earning assets and the average rate paid on interest-bearing liabilities. Three Months Ended December 31, Reconciliation of net interest income on fully taxable equivalent basis 2017 2016 Total interest income $ 12,895 $ 11,169 Total interest expense 1,659 1,293 Net interest income 11,236 9,876 Tax equivalent adjustment 636 695 Net interest income (fully taxable equivalent) $ 11,872 $ 10,571 CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED AVERAGE BALANCES, INTEREST, YIELDS AND RATES, AND NET INTEREST MARGIN ON A FULLY TAX-EQUIVALENT BASIS (UNAUDITED) Year Ended December 31, 2017 2016 Average Average Average Average Balance (1) Interest Rate Balance (1) Interest Rate (dollars in thousands) $ $ % $ $ % ASSETS Interest-bearing deposits at banks 8,790 15 0.17 22,726 82 0.36 Interest bearing time deposits at banks 8,346 171 2.05 7,232 139 1.92 Total investment securities 278,951 7,023 2.52 354,362 8,470 2.39 Loans, net of discount (2)(3)(4) 883,355 43,445 4.92 725,881 37,232 5.13 Total interest-earning assets 1,179,442 50,654 4.29 1,110,201 45,923 4.14 Cash and due from banks 6,774 7,357 Bank premises and equipment 16,799 17,218 Other assets 55,910 57,604 Total non-interest earning assets 79,483 82,179 Total assets 1,258,925 1,192,380 LIABILITIES AND STOCKHOLDERS' EQUITY Interest-bearing liabilities: NOW accounts 323,105 1,139 0.35 301,681 917 0.30 Savings accounts 179,557 191 0.11 172,182 184 0.11 Money market accounts 127,888 650 0.51 118,486 523 0.44 Certificates of deposit 261,758 2,646 1.01 271,117 2,623 0.97 Total interest-bearing deposits 892,308 4,626 0.52 863,466 4,247 0.49 Other borrowed funds 68,536 1,213 1.77 47,004 794 1.69 Total interest-bearing liabilities 960,844 5,839 0.61 910,470 5,041 0.55 Demand deposits 153,523 145,968 Other liabilities 14,802 12,524 Total non-interest-bearing liabilities 168,325 158,492 Stockholders' equity 129,756 123,418 Total liabilities & stockholders' equity 1,258,925 1,192,380 Net interest income 44,815 40,882 Net interest spread (5) 3.68% 3.59% Net interest income as a percentage of average interest-earning assets 3.80% 3.68% Ratio of interest-earning assets to interest-bearing liabilities 123% 122% (1) Averages are based on daily averages. (2) Includes loan origination and commitment fees. (3) Tax exempt interest revenue is shown on a tax equivalent basis for proper comparison using a statutory federal income tax rate of 34%. (4) Income on non-accrual loans is accounted for on a cash basis, and the loan balances are included in interest-earning assets. (5) Interest rate spread represents the difference between the average rate earned on interest-earning assets and the average rate paid on interest-bearing liabilities. Year Ended December 31, Reconciliation of net interest income on fully taxable equivalent basis 2017 2016 Total interest income $ 48,093 $ 43,005 Total interest expense 5,839 5,041 Net interest income 42,254 37,964 Tax equivalent adjustment 2,561 2,918 Net interest income (fully taxable equivalent) $ 44,815 $ 40,882 CITIZENS FINANCIAL SERVICES, INC. CONSOLIDATED SUMMARY OF LOANS BY TYPE; NON-PERFORMING ASSETS; and ALLOWANCE FOR LOAN LOSSES (UNAUDITED) (Excludes Loans Held for Sale) (In Thousands) December 31, September 30, June 30, March 31, December 31, 2017 2017 2017 2017 2016 Real estate: Residential $ 214,479 $ 206,389 $ 205,725 $ 203,817 $ 207,423 Commercial 308,084 273,624 271,342 267,097 252,577 Agricultural 239,957 207,052 188,547 156,299 123,624 Construction 13,502 17,074 25,569 26,118 25,441 Consumer 9,944 10,784 10,603 10,508 11,005 Other commercial loans 72,013 56,222 56,952 59,800 58,639 Other agricultural loans 37,809 34,066 32,974 24,227 23,388 State & political subdivision loans 104,737 101,951 96,337 97,441 97,514 Total loans 1,000,525 907,162 888,049 845,307 799,611 Less allowance for loan losses 11,190 10,447 9,979 9,405 8,886 Net loans $ 989,335 $ 896,715 $ 878,070 $ 835,902 $ 790,725 Past due and non-performing assets Total Loans past due 30-89 days and still accruing $ 3,489 $ 3,360 $ 2,927 $ 2,548 $ 2,999 Non-accrual loans $ 10,171 $ 11,821 $ 11,511 $ 10,482 $ 11,454 Loans past due 90 days or more and accruing 555 173 812 1,015 405 Non-performing loans $ 10,726 $ 11,994 $ 12,323 $ 11,497 $ 11,859 OREO 1,119 1,570 1,194 1,248 1,036 Total Non-performing assets $ 11,845 $ 13,564 $ 13,517 $ 12,745 $ 12,895 3 Months 3 Months 3 Months 3 Months 3 Months Ended Ended Ended Ended Ended Analysis of the Allowance for loan Losses December 31, September 30, June 30, March 31, December 31, (In Thousands) 2017 2017 2017 2017 2016 Balance, beginning of period $ 10,447 $ 9,979 $ 9,405 $ 8,886 $ 8,194 Charge-offs (73) (56) (65) (119) (68) Recoveries 16 24 14 23 10 Net (charge-offs) recoveries (57) (32) (51) (96) (58) Provision for loan losses 800 500 625 615 750 Balance, end of period $ 11,190 $ 10,447 $ 9,979 $ 9,405 $ 8,886 CITIZENS FINANCIAL SERVICES, INC. Reconciliation of GAAP and Non-GAAP Financial Measures (in thousands, except share data) Three Months Ended Year Ended December 31, December 31, 2017 2016 2017 2016 GAAP net income $ 2,604 $ 3,171 $ 13,025 $ 12,638 Impact of the Tax Cuts and Jobs Act 1,531 - 1,531 - Non-GAAP operating earnings $ 4,135 $ 3,171 $ 14,556 $ 12,638 Tangible Equity Stockholders Equity - GAAP $ 129,011 $ 123,268 $ 129,011 $ 123,268 Accumulated other comprehensive loss (3,398) (1,392) (3,398) (1,392) Intangible Assets 25,249 23,185 25,249 23,185 Non-GAAP Total Tangible Book Value 107,160 101,475 107,160 101,475 Shares outstanding adjusted for June 2017 stock Dividend 3,486,874 3,485,268 3,486,874 3,485,268 Tangible Book value per share 30.73 29.12 30.73 29.12 Return on average assets (ROA) 0.80% 1.05% 1.03% 1.06% Impact of the Tax Cuts and Jobs Act 0.46% 0.00% 0.13% 0.00% Non-GAAP operating ROA 1.26% 1.05% 1.16% 1.06% Return on average equity (ROE) 7.82% 10.12% 10.04% 10.24% Impact of the Tax Cuts and Jobs Act 4.49% 0.00% 1.18% 0.00% Non-GAAP operating ROE 12.31% 10.12% 11.22% 10.24% Basic Earnings per Share (EPS) $ 0.75 $ 0.91 $ 3.74 $ 3.60 Impact of the Tax Cuts and Jobs Act 0.44 - 0.44 - Non-GAAP basic operating EPS $ 1.19 $ 0.91 $ 4.18 $ 3.60 Dilutive Earnings per Share (EPS) $ 0.75 $ 0.91 $ 3.74 $ 3.60 Impact of the Tax Cuts and Jobs Act 0.44 - 0.44 - Non-GAAP dilutive operating EPS $ 1.19 $ 0.91 $ 4.18 $ 3.60 View original content: http://www.prnewswire.com/news-releases/citizens-financial-services-inc-reports-unaudited-full-year-and-fourth-quarter-2017-financial-results-300591114.html SOURCE Citizens Financial Services, Inc.

http://www.cnbc.com/2018/01/31/pr-newswire-citizens-financial-services-inc-reports-unaudited-full-year-and-fourth-quarter-2017-financial-results.html

Wawrinka, Nadal give Australian Open huge boost

MELBOURNE (Reuters) - Former champions Stan Wawrinka and Rafa Nadal gave Australian Open organizers a massive boost on Tuesday when they both said they were looking forward to next week’s season opening grand slam after battling long-term injuries. The Australian Open has been hit hard by absences with Andy Murray, Serena Williams and Kei Nishikori among those to have withdrawn, while Nadal and Novak Djokovic have also been struggling with injuries. Wawrinka has been battling a knee injury and has not played since he was knocked out in the first round of Wimbledon last year, and the Swiss was one of the major question marks heading into the Jan. 15-28 Australian Open. “I‘m really, really happy to be back on the Tour and seeing the sun,” Wawrinka told reporters after an event with the tournament’s ball kids at Melbourne Park on Tuesday. ”For me, the first thing is to play a match, to play a tennis match again. It’s been many months out of the tour. ”It’s not always the best when you are an athlete so I‘m looking forward to it, enjoying the crowd. “Still a lot to do but I‘m feeling really positive so looking forward to starting,” added the three-times grand slam winner. It was naturally a welcome news to Australian Open director Craig Tiley. Tennis - Wimbledon - London, Britain - July 3, 2017 Switzerland’s Stan Wawrinka reacts during his first round match against Russia’s Daniil Medvedev REUTERS/Andrew Couldridge “There’s been a lot of questions and in fact this is the first time publicly in six months that he’s said anything, so we are excited that he agreed to come here and do it with the ball kids,” Tiley said. ”So he’s ready to play. I’ve watched him practise. ”Obviously to play best-of-five-set matches and to play seven of them in two weeks, he’d need to have a lot of things go his way. “But, as he indicated this morning, he will be ready to play and it’s great to see him out here.” Tiley’s mood would have improved even further after Nadal returned to the court for an exhibition match at the Kooyong Classic. The Spaniard had also been battling a knee injury and had not played since the season-ending ATP Tour Finals in London. He withdrew from a warmup tournament in Abu Dhabi and last week’s Brisbane International and had been concerned with his match fitness. “It was a good test for me and good practice,” the 16-times grand slam winner told reporters after his 6-4 7-5 loss in which he appeared to be moving freely, if not a little rusty in his shotmaking. ”I‘m good and I am here so that’s good news and my idea is just to keep practising the next couple of days to be ready for the beginning of the Australian Open. Reporting by Greg Stutchbury in Wellington; Editing by Peter Rutherford/Amlan Chakraborty

https://www.reuters.com/article/us-tennis-ausopen-wawrinka/wawrinka-gives-australian-open-huge-boost-idUSKBN1EY09Y

Philadelphia refiner's woes pose test for U.S. biofuel policy

January 19, 2018 / 12:03 PM / Updated 2 hours ago Philadelphia refiner's woes pose test for U.S. biofuel policy Jarrett Renshaw 4 Min Read NEW YORK (Reuters) - The worsening financial condition of East Coast oil refiner Philadelphia Energy Solutions will present a new test for America’s controversial biofuels policy, legal experts say, revealing whether the government can collect a massive biofuels-related debt from a company in distress. The outcome could have implications for other refiners struggling to cope with the Renewable Fuels Standard, a law administered by the Environmental Protection Agency that requires refiners to blend biofuels into the nation’s fuel supply every year, or buy credits from those who do. PES, the oldest and largest refiner on the East Coast, is carrying a shortfall of such credits owed to the EPA likely worth over $100 million, while its management also considers filing for bankruptcy ahead of a separate $550 million short-term loan that comes due in March. If the company goes bust, it would be the first test of how courts and the EPA treat the outstanding credit obligations of a bankrupt company under the RFS. An EPA official did not say if the agency would pursue the credits, saying “EPA cannot comment on potential future bankruptcy proceedings.” PES also declined to comment. Robin Phelan, a veteran bankruptcy attorney and head of Dallas-based Phelan Law, said the answer may come down to the discretion of the EPA, which he said would be legally permitted to pursue the claim in court but which has in the past shown flexibility in collecting from distressed companies. “In my experience, sometimes they are totally inflexible and other times they will work with you,” Phelan said. The administration of President Donald Trump has already demonstrated a willingness to consider the concerns of the refining industry, and is mediating talks between representatives of the refiners and ethanol producers aimed at coming up with tweaks acceptable to both sides. The political stakes are high, observers say. PES employs thousands of blue-collar workers from various trades, such as pipefitters and sheet metal workers, and sits in the key electoral state of Pennsylvania. Chris Ward, chair of the Polsinelli law firm’s bankruptcy group, said EPA is likely to deal with a biofuel credit situation less aggressively than it would, say, an urgent waste cleanup or some other threat to public safety, but said there was no clear precedent to look at either. Manny Grillo, chair of the financial restructuring practice at the Houston-based Baker Botts law firm, said that whatever the outcome, it would be widely watched, as other refining companies like PBF Energy ( PBF.N ) and Valero ( VLO.N ) also gripe about the financial strains of the RFS. “The government could... allow the cost to be discharged. The question is how the government treats the compliance issues moving forward,” he said. “The EPA could be violating the Equal Protection clause if they grant relief to one refiner without giving it to all of them. It’s a slippery slope,” said Ed Hirs, an energy economist at the University of Houston. PES, majority owned by the Carlyle Group ( CG.O ), entered 2017 with a $111.4 million short position in the biofuels credit market, federal filings show. In recent months, it has been adding to that short position by selling credits, two sources say. The Philadelphia refinery’s struggles have emerged as a potential flashpoint in the ongoing debate between Big Oil and Big Corn over the future of the RFS. Critics have argued the company’s woes are an example of what is wrong with the program, while supporters say the company’s troubles are more closely related to its lack of access to cheaper crude oil supplies. Writing by Richard Valdmanis; Editing by Bernadette Baum

https://in.reuters.com/article/us-refinery-biofuels-bankruptcy/philadelphia-refiners-woes-pose-test-for-u-s-biofuel-policy-idINKBN1F81AE

German would-be coalition partners agree news blackout during talks - Spiegel

January 4, 2018 / 1:57 PM / Updated 8 minutes ago German would-be coalition partners agree news blackout during talks - Spiegel BERLIN (Reuters) - German Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats (SPD) have agreed to impose a news blackout during exploratory talks next week on forming another ‘grand coalition’, Der Spiegel magazine said on Thursday. Outgoing Bavarian state premier and leader of the Christian Social Union (CSU) Horst Seehofer and Alexander Dobrindt of the Christian Social Union of Bavaria attend a CSU party meeting at 'Kloster Seeon' in Seeon, Germany, January 4, 2018. REUTERS/Michaela Rehle A tie-up between Merkel’s bloc, comprising her Christian Democrats (CDU) and their Bavarian CSU sister party, and the SPD is her best chance of securing a fourth term after efforts to form a coalition with two smaller parties failed last year. The breakdown of those talks in November was widely blamed on politicians leaking information from meetings, eroding trust between prospective partners. Merkel, CSU leader Horst Seehofer and SPD leader Martin Schulz have agreed that negotiators should not be allowed to give interviews or appear in television talk shows during the exploratory talks, Der Spiegel reported. Both sides agreed that no advance word of a possible outcome should be leaked during the talks to shore up trust among the negotiators, the magazine added. Germany’s largest parties on Wednesday expressed optimism about the chances of forming a government after several hours of talks. The parties talked of growing confidence - good news for Merkel, whose reputation as Europe’s consummate consensus-builder is on the line in this second bid to form a coalition government after weeks of sniping between its would-be partners. SPD leader Martin Schulz arrives for talks to discuss forming a government with the Christian Social Union (CSU) and Christian Democratic Union (CDU) in Berlin, Germany, January 3, 2018. REUTERS/Hannibal Hanschke The exploratory talks are due to start on Sunday and could lead to official coalition negotiations in a few weeks. To keep its rank and file on board, the SPD leadership has said it will let its members vote on Jan. 21 on going ahead with detailed coalition talks after the first phase has been completed. Outgoing Bavarian state premier and leader of the Christian Social Union (CSU) Horst Seehofer and Andreas Scheuer of CSU arrive for the party meeting at 'Kloster Seeon' in Seeon, Germany, January 4, 2018. REUTERS/Michaela Rehle Merkel’s arch-conservative CSU allies meanwhile warned the SPD not to make too many demands in coalition talks but were keen to show their core voters that there would be no compromise on sensitive issues like immigration. “We want this coalition,” CSU leader Seehofer told a news conference ahead of a parliamentary caucus meeting. “The project can succeed if the potential partner doesn’t overbid.” Seehofer added the CSU’s proposals to tighten immigration and asylum laws were not meant to upset the SPD. “It’s not aimed against anybody. It’s rather about stating our positions clearly,” Seehofer said. “This project (of another grand coalition) can succeed if our potential coalition partner doesn’t take it too far,” he said. Merkel is under increasing pressure to reach a deal with the SPD, which also lost ground in the September election, but the two sides have bickered over a range of issues, notably immigration and taxation. Reporting by Michael Nienaber, additional reporting by Thomas Escritt; Editing by Richard Balmforth

https://uk.reuters.com/article/uk-germany-politics/german-would-be-coalition-partners-agree-news-blackout-during-talks-spiegel-idUKKBN1ET1JH

Wagons don’t sell well, but Buick bets they can revamp its image

Buick hopes to capture a new set of customers with a crossover that looks a lot like one of the least popular cars in America. The company is right now rolling out the Buick Regal TourX to dealerships across the U.S., and while the car is marketed as a crossover, it is really a wagon. Wagons sell poorly in the United States, but Buick is wagering the car will both win over fiercely loyal wagon fans and help the brand revamp its staid image among Americans. Buick was spared from extinction during General Motors' famous U.S. government bailout, mostly due to the brand's popularity in China, where it is highly desirable. In the U.S., Buick has been associated with unadventurous cars for grandparents. In an attempt to overcome that image, Buick has made bets on unusual designs that differentiate it from its GM stablemates. The TourX follows that new approach. "We just thought it was a really good opportunity for us to revitalize the way we look at cars, at Buick," said Doug Osterhoff, marketing manager for the Buick Regal line. "When people see the TourX, the perceptual change of Buick is even more significant because they don't expect to see that kind of vehicle from Buick," he added. Source: Buick 2018 Buick Regal TourX interior Once common across the country, and still popular elsewhere in the world, wagons have been unloved by the vast majority of American buyers for years. They were long ago eclipsed by sales of minivans and, later, sport utility vehicles. Wagons were 1.9 percent of consumer vehicle sales in 2010 and have been essentially flat since, according to IHS Markit. In contrast, sales of sport utility vehicles have risen from 30 percent in 2010 to an expected 43 percent in 2018. The big factor in this so far steady decline is the influence of the baby boomers, said Kelley Blue Book analyst Rebecca Lindland. This is generally considered the generation of Americans born from the mid-1940s to mid-1960s. "In the States you have to go back into the '80s, when baby boomers started to make their mark in the marketplace," Lindland told CNBC. "They were raised in station wagons, and they wanted something different." IFCAR | Wikimedia Commons They also wanted something large and intimidating, that fed the competitive mindset characteristic of their generation, Lindland said. The old American family station wagon did not project that image. And SUVs have their own intrinsic characteristics that make them sticky to buyers. They offer a higher riding height than sedans. This gives a better view of the road, but also has a psychological effect, Lindland said. "We see from KBB from traffic that owners who have a sedan tend to shop both crossovers and sedans," she said. "But crossover and SUV owners only shop for crossovers and SUVs. Once people have had a utility vehicle, it is really hard to get them out of it." But many car enthusiasts argue that wagons are in some ways superior to most of the top-heavy crossovers and SUVs on offer today. Perhaps most importantly, sacrificing higher ride height makes the car drive as nimbly as a sedan — an advantage that especially shows at freeway speeds. "Wagons are still based on sedans, and passenger cars are almost always going to be better on driving experience," said IHS Markit senior analyst Stephanie Brinley. And there is a group of buyers who are loyal to wagons, finding them the perfect balance between a sedan and a sport utility, Osterhoff said. "The people who really want that driving dynamic of a car are really adamant," Osterhoff said. They also like being able to access the roof — the TourX comes with roof rails as a standard feature. The downside is customers who prefer to buy wagons have few to choose from. And those currently on the market borrow elements from the crossover paradigm. "If wagons want to have a chance in the U.S., they tend to be on stilts," said Dave Sullivan, an analyst with AutoPacific. This means they tend to be raised slightly, giving at least some of the seductive higher ride height. They also tend to have other features, such as all-wheel drive and tinted windows, he said. Volkswagen has had success with the Golf Alltrack. The Subaru Forester and Outback are examples of wagon-like cars that have bucked the trend and been good sellers, Sullivan said. Source: Subaru Subaru Outback On the higher end, some of the German manufacturers have seen success. The Audi A4 Allroad has a following, for example. Of course, Volvo has also made its name as a go-to brand for wagons. But the Allroad starts at about $44,000, almost $15,000 higher than the TourX. Buick is trying to hit the price point between luxury brands and the lower-priced brands, such as Subaru. Source: Audi Audi A4 Allroad Buick is also positioning the TourX not as a wood-paneled family hauler, but as a car for people who are active and enjoy the outdoors. These consumers, Osterhoff said, make up many wagon buyers today. "These people are active in the sense that they are ready to go out on a bike ride after lunch, or throw the kayak in the water after working," he said. Some promotional photos feature the car in a stand of trees, with surfboards or kayaks attached to the roof rack. Source: General Motors 2018 Buick Regal Tour X And despite the fact that wagon sales in the near future are not projected to rise much, the move may help cast Buick in a new light. "I think it will open up that conversation about changing the brand image," Brinley said. "I think that move is going to work out pretty well for them as a brand."

https://www.cnbc.com/2018/01/26/wagons-dont-sell-well-but-buick-bets-they-can-revamp-its-image.html

Gentex Reports Fourth Quarter 2017 and Year-End Earnings Release Date and Conference Call

ZEELAND, Mich., Jan. 05, 2018 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ:GNTX), the Zeeland, Michigan-based manufacturer of automotive automatic-dimming rearview mirrors, automotive electronics, dimmable aircraft windows and fire protection products, is pleased to announce that it will release its Fourth Quarter 2017 and year-end financial results on Friday, January 26, 2018, before the market opens. The Company will host a conference call for the investment community at 9:30am ET to discuss the results. The call will also be available to the general public via a live audio webcast. The dial-in number to participate in the call is (844) 389-8658, passcode 4777948. Participants may listen to the call via audio streaming at www.gentex.com or by visiting https://edge.media-server.com/m6/p/3xdgo33t . A webcast replay will be available approximately 24 hours after the conclusion of the call at http://ir.gentex.com/events-and-presentations/upcoming-past-events . Contact Information: Gentex Investor Relations 616-772-1590 x5814 Source:Gentex Corporation

http://www.cnbc.com/2018/01/05/globe-newswire-gentex-reports-fourth-quarter-2017-and-year-end-earnings-release-date-and-conference-call.html

Syrian army to end U.S. presence in the country: state TV citing FM source

January 15, 2018 / 9:04 AM / Updated an hour ago Syrian army to end U.S. presence in the country: state TV citing FM source Reuters Staff 1 Min Read BEIRUT (Reuters) - The Syrian army is determined to end any form of U.S. presence in the country, state television said on Monday, citing an official source in the foreign ministry. The U.S.-led coalition is working with Syrian militias to set up a new border force of 30,000 personnel. The move has also heightened Turkey’s anger over U.S. support for Kurdish-dominated forces in Syria. The Syrian foreign ministry blasted the U.S.-backed border force as a “blatant assault” on its sovereignty, state media had also said. Reporting by Ellen Francis; Editing by Catherine Evans

https://www.reuters.com/article/us-mideast-crisis-syria-army/syrian-army-to-end-u-s-presence-in-the-country-state-tv-citing-fm-source-idUSKBN1F40WV

Alexandria Real Estate Equities, Inc. Announces Public Offering of 6,000,000 Shares of Common Stock

PASADENA, Calif., Jan. 3, 2018 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced today that it is commencing an underwritten public offering of 6,000,000 shares of common stock in connection with the forward sale agreements described below. The Company expects to grant the underwriters a 30-day option to purchase up to 900,000 additional shares. BofA Merrill Lynch, J.P. Morgan and Citigroup are acting as joint book-running managers for the offering. The Company expects to enter into forward sale agreements with Bank of America, N.A., JPMorgan Chase Bank, N.A., London Branch, and Citibank, N.A. (the "forward purchasers") with respect to 6,000,000 shares of its common stock (and expects to enter into forward sale agreements with respect to an aggregate of 6,900,000 shares if the underwriters exercise their option to purchase additional shares in full). In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 6,000,000 shares of the common stock that will be delivered in this offering (or an aggregate of 6,900,000 shares if the underwriters exercise their option to purchase additional shares in full). Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, the Company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than April 8, 2019, an aggregate of 6,000,000 shares of its common stock (or an aggregate of 6,900,000 shares if the underwriters exercise their option to purchase additional shares in full) to the forward purchasers in exchange for cash proceeds per share equal to the applicable forward sale price, which will be the public offering price, less underwriting discounts and commissions, and will be subject to certain adjustments as provided in the forward sale agreements. The Company will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers. The Company expects to use the net proceeds, if any, it receives upon the future settlement of the forward sale agreements to fund pending and recently completed acquisitions and near-term highly leased development projects, with any remaining proceeds to be held for general working capital and other corporate purposes, including the reduction of the outstanding balance, if any, on the Company's unsecured senior line of credit. Selling common stock through the forward sale agreements enables the Company to set the price of such shares upon pricing the offering (subject to certain adjustments) while delaying the issuance of such shares and the receipt of the net proceeds by the Company until the expected funding requirements described above have occurred. The offering is being made pursuant to an effective registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's common stock, nor shall there be any sale of the common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus supplement relating to this offering, when available, may be obtained by contacting: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department; or sending an email to dg.prospectus_requests@baml.com ; J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146). Alexandria Real Estate Equities, Inc. Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500 ® company, is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the Company's offering of common stock (including an option to purchase additional shares of common stock) and its intended use of the proceeds. These forward-looking statements are based on the Company's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by the Company's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. Contact: Joel S. Marcus Chairman Chief Executive Officer & Founder Alexandria Real Estate Equities, Inc. (626) 578-9693 View original content: http://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-announces-public-offering-of-6 -shares-of-common-stock-300577155.html SOURCE Alexandria Real Estate Equities, Inc.

http://www.cnbc.com/2018/01/03/pr-newswire-alexandria-real-estate-equities-inc-announces-public-offering-of-6000000-shares-of-common-stock.html

Trump threatens to pull aid to Palestinians if they don't pursue peace

DAVOS, Switzerland (Reuters) - U.S. President Donald Trump threatened on Thursday to withhold aid to the Palestinians if they did not pursue peace with Israel, saying they had snubbed the United States by not meeting Vice President Mike Pence during a recent visit. Trump, speaking after a meeting with Israeli Prime Minister Benjamin Netanyahu at the World Economic Forum, said he wanted peace. However, his remarks could further frustrate the aim of reviving long-stalled Israeli-Palestinian talks. Palestinians shunned Pence’s visit to the region this month after Trump recognised Jerusalem as Israel’s capital and vowed to begin moving the U.S. embassy to the city, whose status is at the heart of the Israeli-Palestinian conflict. Trump’s endorsement in December of Israel’s claim to Jerusalem as its capital drew universal condemnation from Arab leaders and criticism around the world. It also broke with decades of U.S. policy that the city’s status must be decided in negotiations between Israel and the Palestinians. “When they disrespected us a week ago by not allowing our great vice president to see them, and we give them hundreds of millions of dollars in aid and support, tremendous numbers, numbers that nobody understands -- that money is on the table and that money is not going to them unless they sit down and negotiate peace,” Trump said. The United States said this month it would withhold $65 million of $125 million it had planned to send to the U.N. agency that helps Palestinian refugees. The UNRWA agency is funded almost entirely by voluntary contributions from U.N. states and the United states is the largest contributor. A spokesman for Palestinian President Mahmoud Abbas said the United States had taken itself “off the table” as a peace mediator since it recognised Jerusalem as Israel’s capital. “Palestinian rights are not up to any bargain and Jerusalem is not for sale. The United States can’t have any role unless it retreats its decision to recognise Jerusalem as Israel’s capital,” spokesman Nabil Abu Rdainah told Reuters by phone from Jordan. Abbas has called Trump’s Jerusalem declaration a “slap in the face” and has rejected Washington as an honest broker in any future talks with Israel. Abbas left for an overseas visit before Pence arrived. Abbas has said he would only accept a broad, internationally backed panel to broker any peace talks with Israel. The U.S. Ambassador to the U.N., Nikki Haley also criticized Abbas. Israel’s government regards Jerusalem as the eternal and indivisible capital of the country, although that is not recognised internationally. Palestinians see East Jerusalem as the capital of a future Palestinian state. Speaking in Davos, Israeli Prime Minister Benjamin Netanyahu said only the United States could broker a peace deal. U.S. President Donald Trump shakes hands with Israeli Prime Minister Benjamin Netanyahu during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria “I think there’s no substitute for the United States. As the honest broker, as a facilitator, there’s no other international body that would do it,” Netanyahu said. Trump said Palestinians had to come to the negotiating table. “Because I can tell you that Israel does want to make peace and they’re going to have to want to make peace too or we’re going to have nothing to do with them any longer,” Trump said. Trump said his administration had a peace proposal in the works that was a “great proposal for Palestinians” which covers “a lot of the things that were over the years discussed or agreed on”, without providing specifics. U.S. President Donald Trump meets with Israeli Prime Minister Benjamin Netanyahu (not pictured) during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria Trump said his declaration on Jerusalem took it off the negotiating table “and Israel will pay for that”, adding “they’ll do something that will be a very good thing” without elaborating. Earlier at the World Economic Forum, Jordanian King Abdullah said Jerusalem had to be part of a comprehensive solution. He said Trump’s decision had created a backlash, frustrating Palestinians who felt there was no honest broker. But he added: “I’d like to reserve judgement because we’re still waiting for the Americans to come out with their plan.” King Abdullah’s Hashemite dynasty is the custodian of the Muslim holy sites in Jerusalem, making Jordan particularly sensitive to any changes of status there. The last talks collapsed in 2014, partly due to Israel’s opposition to an attempted unity pact between Palestinian factions Fatah and Hamas, and because of Israeli settlement building on occupied land that Palestinians seek for a state, among other factors. Palestinians want the West Bank for a future state, along with East Jerusalem and the Gaza Strip. Most countries consider as illegal the Israeli settlements built in the territory which Israel captured in the 1967 Middle East war. Israel denies its settlements are illegal and says their future should be determined in peace talks. The United States has said it would support a two-state solution if the Israelis and Palestinians agreed to it. Additional reporting by Ali Sawafta in RAMALLAH, Ari Rabinovitch in JERUSALEM, Michelle Nichols at the UNITED NATIONS and Noah Barkin and Dmitry Zhdannikov in DAVOS; Writing by Yara Bayoumy; Editing by Mark Bendeich

https://in.reuters.com/article/davos-meeting-usa-israel/trump-threatens-to-pull-aid-to-palestinians-if-they-dont-pursue-peace-idINKBN1FE28F

Deckers Brands Announces Conference Call to Review Third Quarter Fiscal 2018 Earnings Results

GOLETA, Calif.--(BUSINESS WIRE)-- Deckers Brands (NYSE:DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, today announced that the Company's conference call to review third quarter fiscal 2018 results will be on Thursday, February 1, 2018 at approximately 4:30 pm Eastern Time. The broadcast will be hosted at www.deckers.com . To listen to the webcast, your computer must have Windows Media Player installed. If you do not have Windows Media Player, go to the latter site prior to the call, where you can download the software for free. The broadcast will be available for at least 30 days following the conference call. About Deckers Brands Deckers Brands is a global leader in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The Company's portfolio of brands includes UGG®, KOOLABURRA®, HOKA ONE ONE®, Teva®, and Sanuk®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has a 40-year history of building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information, please visit www.deckers.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180122006461/en/ Investor Relations Contact: Deckers Brands Steve Fasching VP, Strategy & Investor Relations 805.967.7611 Source: Deckers Brands

http://www.cnbc.com/2018/01/22/business-wire-deckers-brands-announces-conference-call-to-review-third-quarter-fiscal-2018-earnings-results.html

The World's Most Valuable Distiller Is Running Out of Liquor | Fortune

The World's Most Valuable Distiller Is Running Out of Liquor Moutai Liquors at a supermaket in Xuchang, China. China Daily/Reuters By Bloomberg January 17, 2018 You know you’re in Maotai when you smell it. The picturesque town of about 100,000 in southwestern China is home to the world’s most valuable liquor company — and the soy-sauce-like scent of the Chinese grain alcohol baijiu, made by the eponymous Kweichow Moutai Co., permeates the main street. But inside the liquor stores along the road, the distiller’s main brands are all sold out. Lines form wherever bottles are available. The buying frenzy — and resulting inventory shortages — extend nation-wide. Moutai baijiu’s fiery flavor and potential to appreciate in price is driving the blistering demand. That in turn has pushed its market value to more than $145 billion, well past British whisky giant Diageo Plc. The Chinese firm sells each bottle of its main Flying Fairy brand to distributors for 969 yuan ($150) and sets a suggested resale ceiling of 1,499 yuan, yet they routinely go for double online and off. Its website is out of stock. On shopping site JD.com, an 80-year bottle is listed for 196,888 yuan ($30,000). Chinese buyers say they like Moutai’s baijiu for its complex flavor and a purity that prevents hangovers — but its special manufacturing process also puts limits on its production. The grain and water used to make it must come from Maotai town and the brew must be buried in urns for at least four years before it’s sold. As the state-owned giant grapples with shortages, smaller rivals like Wuliangye Yibin Co. are already starting to win more business. All that’s putting Moutai’s chairman, Yuan Renguo, in the difficult position of having to sustain growth even as his company literally runs out of liquor. In a rare interview in December, he said the answer will lie — at least partly — in introducing more ultra-premium and customized products that capitalize on the Moutai brand. “Two thousand years ago, the Chinese calling card was lions, 1,000 years ago it was Chinese porcelain, 500 years ago it was tea leaves and now it’s local brands with their own intellectual property,” he said. “I believe Moutai is one of these.” Fiery Liquor While few outside China buy the liquor, Moutai baijiu is baked into national myth as the drink of choice for Communist Party leaders. It’s what Mao Zedong and his comrades toasted with at the founding of the People’s Republic in 1949. Just four years ago, the distiller was battling a slowdown as an austerity drive in Beijing slashed demand from government officials. But purchases by ordinary Chinese have more than compensated since then. Yuan, 61, wants to sell more customized lines, like the HK$6,000 ($767) bottles with the company’s label that was created exclusively for a Macau junket operator. He’s added more limited edition bottles like the ones Moutai created for the 70th anniversary of China’s World War II victory over Japan. That one is listed for 1,999 yuan on the company’s website, though it’s also sold out. Then there’s the opportunity to sell higher priced “mature baijiu”— the older the baijiu, the more expensive (and profitable) it is. “Since sales volume will stay constant next year, we think we can maintain revenue growth through this strategy,” Yuan said, referring to the more premium products. Moutai expects revenue in 2017 to exceed 60 billion yuan, and to rise more than 10 percent in 2018. Yuan, who has been at the company for four decades, is also attempting to increase production. But he said Moutai won’t be able to produce more than 60,000 metric tons of its baijiu annually, based on the land it controls. While that’s 53 percent more than last year’s production of 39,313 tons, the numbers reflect the endpoint to potential expansion. Analysts at Sanford C. Bernstein & Co. estimate Moutai will have to limit its supply growth to 4 percent annually for the next three to five years to be able to sell the Flying Fairy brand sustainably — without using up too much of its stores of aging liquor. They estimate Moutai boosted supply of Flying Fairy by 38 percent in 2017, implying it borrowed from the future in order to deliver a short-term result. “Continuing this pace of depletion is not sustainable,” said Bernstein analyst Euan McLeish. Price Hikes In the face of production limits, the easiest way to keep revenue growing is, of course, to raise prices. An 18 percent price increase announced by Moutai in December drove its shares up more than 8 percent. Still, Beijing puts restrictions on the prices of high-end liquor. And as a state-owned enterprise, Moutai is also expected to display a certain public spirit. So relying too heavily on price increases of its basic brands isn’t sustainable. The company has said it has asked affiliates to keep prices stable and told retailers to prevent hoarding. There’s also the sense of social responsibility that Moutai must show, particularly as a profitable business in Guizhou, one of China’s poorest provinces. Even as factories around the country embrace automation, its factory floor remains deliberately manpower heavy — the ribbon on each Moutai bottle is still tied by hand. It’s also just opened a non-profit university, Moutai University, the first in China to offer baijiu distillation as its core degree, to create even more experts on the luxury drink. Wu Yuanjian, 20, who recently enrolled, sees a distillation degree as an entry ticket into a hot business. “I want to join the sales department of Moutai actually,” he said. “You can make more money there.” Cash Pile Sitting on a massive cash pile of more than 69 billion yuan, the chairman’s other plans include expanding the company’s finance business through subsidiaries in insurance and asset management. He’s also weighing public listings of three of its units: its e-commerce business, an agricultural arm and another that sells its less-expensive baijiu, known as Xijiu or Xi liquor. Last year, Goldman Sachs Group Inc. upgraded its price recommendation on Moutai’s shares 14 times, data compiled by Bloomberg show, and other analysts also issued bullish views. At the moment, there are 26 analysts with buy ratings, three with hold ratings and no sell recommendations. But as the shares surged last year, the state-owned Xinhua News Agency urged investors to be more cautious, saying the stock should rise at a slower pace. The company issued its own statement saying analysts’ share price targets and valuations in the market were “overly high.” After a brief decline, however, the shares resumed their surge and ended about 109 percent higher for 2017. SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/17/moutai-liquor-running-out/

Dentsply Sirona Announces the Addition of New Board Members

YORK, Pa., Jan. 17, 2018 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (NASDAQ:XRAY), The Dental Solutions Company™, today announced that the size of its Board of Directors has been increased from nine to twelve members and that three new board members have been appointed. Joining the Board of Directors are Betsy D. Holden and Leslie F. Varon, in addition to Don M. Casey Jr., Dentsply Sirona’s newly appointed Chief Executive Officer. “We are delighted to welcome Betsy and Leslie to Dentsply Sirona’s Board of Directors,” said Eric. K. Brandt, Non-Executive Chairman of the Board. “Both individuals are internationally recognized business leaders, incredibly talented and bring a broad set of skills to Dentsply Sirona. We are fortunate to add such high caliber people to help us achieve our potential as the market leader in dental products and technologies.” Betsy D. Holden commented: “I am excited to join Dentsply Sirona, the innovator in the dental industry and do my part in collaboration with Management and the Board to help the company achieve its Mission of empowering dental professionals to deliver better, safer, faster dental care.” Leslie F. Varon added: “Dentsply Sirona is the global market leader in the dental industry with significant growth opportunities. I am eager to partner with my fellow Board members, the management team and employees to improve oral health worldwide and create long-term shareholder value.” About Betsy D. Holden: Betsy D. Holden is a senior advisor to McKinsey & Company, working with clients across industries on strategy, marketing, innovation, and board effectiveness initiatives. Ms. Holden was formerly Co-CEO of Kraft Foods and CEO of Kraft Foods North America. At the time, Kraft Foods was the largest food company in North America and the second largest in the world. In addition to her CEO role at Kraft, Ms. Holden also held the positions of president, Global Marketing and Category Development; executive vice president with responsibility for Operations, IT, Procurement, R&D, and Consumer Insights and Communications; president of the Kraft Cheese Division; president of the Pizza Division; plus multiple line brand management assignments. Ms. Holden introduced new products that generated over $2 billion in revenue and under her leadership Kraft received numerous marketing, new product, and ‘best places to work’ accolades. Ms. Holden serves on the Board of Diageo PLC, Time Inc. and The Western Union Company. Previously, she also served on the Boards of Catamaran Corp., Tribune Co., Kraft Foods and Tupperware Brands. Ms. Holden graduated Summa Cum Laude and Phi Beta Kappa with a BA from Duke University and received a Masters of management in marketing and finance from Northwestern University’s Kellogg School of Management. She was named to Fortune’s Most Powerful Women’s list multiple times. About Leslie F. Varon: Leslie F. Varon has an extensive record of financial and business leadership in corporate financial management and investor relations. She has significant experience driving business transformation over 30 years at Xerox Corporation, including complex turnarounds, mergers and acquisitions, crisis management and the spinoff of a major business unit. During her career with Xerox, Ms. Varon has served in a variety of senior roles including as the company’s Chief Financial Officer, corporate controller, vice president of finance for North America and head of investor relations and was responsible for all finance, treasury, investor relations, risk management, mergers and acquisitions, tax, audit, procurement and real estate operations at Xerox. Ms. Varon serves on the Board of Hamilton Lane Incorporated. Ms. Varon holds a Bachelor of Arts degree from Binghamton University and a Master's degree in Business Administration with concentrations in finance and marketing from Virginia Polytechnic Institute. About Dentsply Sirona: Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. As The Dental Solutions Company™, Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better, safer and faster dentistry. Dentsply Sirona’s global headquarters is located in York, Pennsylvania, and the international headquarters is based in Salzburg, Austria. The company’s shares are listed in the United States on NASDAQ under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products. Contact Information: Joshua Zable, IRC Vice President, Investor Relations +1-718-482-2184 joshua.zable@dentsplysirona.com Source:DENTSPLY SIRONA Inc.

http://www.cnbc.com/2018/01/17/globe-newswire-dentsply-sirona-announces-the-addition-of-new-board-members.html

Liquidity Services Announces First Quarter Fiscal Year 2018 Earnings Conference Call

BETHESDA, Md., Jan. 25, 2018 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a global solution provider in the reverse supply chain with the world’s largest marketplace for business surplus, announced today that it will report the results of its first quarter fiscal year 2018 ended December 30, 2017 on Thursday, February 1, 2018 at 10:30 a.m. Eastern Time. The earnings press release will be distributed prior to market open on the same day. Bill Angrick, Chairman and CEO, Jorge Celaya, CFO, and Michael Sweeney, Chief Accounting Officer, will host the earnings event. Investors and other interested parties may access the teleconference by dialing (844) 795-4614 or (661) 378-9639 and providing conference identification number 5597427. A live web cast of the conference call will be provided on the Company's investor relations website at http://investors.liquidityservices.com . An archive of the web cast will be available on the Company's website until February 1, 2019 at 11:59 p.m. ET. An audio replay of the teleconference will also be available until February 15, 2018 at 11:59 p.m. ET. To listen to the replay, dial (855) 859-2056 or (404) 537-3406 and provide conference identification number 5597427. Both replays will be available starting at 1:30 p.m. ET on the day of the call. About Liquidity Services Liquidity Services (NASDAQ:LQDT) employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Our superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 10,000 clients worldwide. With approximately $7 billion in completed transactions, and 3 million buyers in almost 200 countries and territories, we are the proven leader in delivering smart commerce solutions. Visit us at LiquidityServices.com . Contact: Liquidity Services, Inc. Julie Davis Senior Director, Investor Relations 202-558-6234 julie.davis@liquidityservices.com Source:Liquidity Services, Inc.

http://www.cnbc.com/2018/01/25/globe-newswire-liquidity-services-announces-first-quarter-fiscal-year-2018-earnings-conference-call.html

Pope calls for dialogue in Korea, ban on nuclear weapons

January 8, 2018 / 10:35 AM / Updated 3 hours ago Pope, in "state of world" speech, urges dialogue in Korea, nuclear ban Philip Pullella 3 Min Read VATICAN CITY (Reuters) - Pope Francis, in his annual “state of the world” address called on Monday for all nations to support dialogue to ease tensions on the Korean peninsula and to work for a legally binding ban on nuclear weapons. In the speech, Francis also repeated his call for a two-state-solution between Israelis and Palestinians and respect for the “status quo” of Jerusalem following U.S. President Donald Trump’s decision to recognise the city as Israel’s capital. “It is of paramount importance to support every effort at dialogue on the Korean peninsula, in order to find new ways of overcoming the current disputes, increasing mutual trust and ensuring a peaceful future for the Korean people and the entire world,” Francis said. The pope addressed envoys from more than 180 countries a day before North Korea and South Korea are due to hold talks expected to address North Korea’s participation in the Pyeongchang Winter Olympics, which some diplomats see as a possible opening for discussions on other topics such as humanitarian issues and divided families. Earlier this month, after North Korean leader Kim Jong Un asserted that he had a nuclear button at the ready, Trump tweeted that the U.S. button was bigger and more powerful. “Nuclear weapons must be banned,” Francis said, quoting a document issued by Pope John XXIII at the height of the Cold War and adding that there is “no denying that the conflagration could be started by some chance and unforeseen circumstance”. Noting that the Holy See was among 122 states that last year agreed a United Nations treaty to ban nuclear weapons, he called for a “serene and wide-ranging debate” on disarmament. Pope Francis makes his speech during an audience with the diplomatic corps accredited to the Holy See for the traditional exchange of New Year greetings at the Vatican January 9, 2017. REUTERS/Alberto Pizzoli/Pool The United States, Britain, France and others boycotted the talks that led to the treaty, instead pledging commitment to a decades-old Non-Proliferation Treaty. At the individual greetings after the speech, Francis spent more time chatting with South Korea’s envoy, Jonghyu Jeong, than with most other diplomats. Slideshow (2 Images) Washington’s new ambassador to the Vatican, Callista Gingrich, attended along with her husband, former speaker of the U.S. House of Representatives, Newt Gingrich. Addressing climate change, Francis called for a “united effort” to remain committed to the 2015 Paris accord on reducing carbon emissions. French President Emmanuel Macron is trying to breathe new life in the agreement after Trump announced that the United States would withdraw.. Francis, who has made defence of migrants and refugees a major plank of his pontificate, warned against “stirring up primal fears” of newcomers. “There is a need, then, to abandon the familiar rhetoric and start from the essential consideration that we are dealing, above all, with persons,” he said. Migration has become a top political issue in countries including the United States, Italy and Germany. Reporting by Philip Pullella; Editing by Robin Pomeroy

https://in.reuters.com/article/pope-diplomats/pope-calls-for-dialogue-in-korea-ban-on-nuclear-weapons-idINKBN1EX0UY

CANADA FX DEBT-C$ nearly flat against weaker greenback as oil dips

* Canadian dollar at C$1.2511, or 79.93 U.S. cents * Bond prices fall across the yield curve TORONTO, Jan 12 (Reuters) - The Canadian dollar was little changed against its U.S. counterpart on Friday as the greenback broadly fell and the price of oil pared some recent gains, while investors awaited an interest rate decision from the Bank of Canada next week. The price of oil, one of Canada's major exports, fell after hitting a three-year high of more than $70 a barrel on Thursday. U.S. crude prices were down 0.4 percent at $63.56 a barrel. The U.S. dollar fell against a basket of major currencies but made a partial recovery after the Labor Department said its consumer price index, excluding the volatile food and energy components, rose 0.3 percent last month, the biggest advance since January 2017. At 9:43 a.m. EST (1443 GMT), the Canadian dollar was up 0.1 percent at C$1.2511 to the greenback, or 79.93 U.S. cents. The currency traded in a range of C$1.2499 to C$1.2556. One week ago, the loonie touched its strongest in three months at C$1.2355 after much-stronger-than expected jobs data boosted expectations for a Bank of Canada interest rate hike on Jan. 17. But the currency was rattled this week after Canadian government sources told Reuters they were increasingly convinced that the United States planned to announce plans to pull out of the North American Free Trade Agreement. Canada, which sends about 75 percent of its exports to the United States, welcomes U.S. President Donald Trump's suggestion that the deadline for concluding talks to modernize NAFTA could be extended beyond the end of March, Foreign Minister Chrystia Freeland told reporters. Chances of a rate hike next week had been dented by worries about NAFTA but have since recovered to about 90 percent, data from the overnight index swaps market showed. Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year fell 5 Canadian cents to yield 1.782 percent, and the 10-year declined 30 Canadian cents to yield 2.204 percent. On Wednesday, the 10-year yield reached 2.231 percent, its highest intraday since September 2014. (Reporting by Fergal Smith; Editing by Lisa Von Ahn)

https://www.reuters.com/article/canada-forex/canada-fx-debt-c-nearly-flat-against-weaker-greenback-as-oil-dips-idUSL1N1P70T0

Dale Foster and Charles Bass Join Wayside Technology Group

EATONTOWN, N.J., Jan. 04, 2018 (GLOBE NEWSWIRE) -- Wayside Technology Group Inc. (NASDAQ:WSTG), an international technology channel company, announced today the appointment of Dale Foster as Executive Vice President and Charles Bass as Vice President – New Business Development, effective January 3, 2018. Messrs. Foster and Bass, both recognized industry leaders, bring along a wealth of sales and channel experience as well as many valuable relationships to Lifeboat Distribution and Wayside Technology Group. Dale Foster, who joins Wayside Technology with over 20 years of industry and channel experience, built a value-added specialty distributor focused on storage and virtualization solutions as the Executive Director and General Manager of Promark Technology. During his tenure at Promark, Dale developed an industry leading team known for their exceptional, high-touch service. Charles Bass also joins us with more than 20 years of industry and channel experience, most recently as Vice President Worldwide Channel Sales at Blue Medora. Charles’ focus will be on vendor development and strategic relationships. “Both Dale Foster and Charles Bass are well-respected industry leaders and we truly look forward to working together,” said Simon Nynens, Chairman and Chief Executive Officer, Wayside Technology Group. “Their experience will be vital in shaping and executing our business strategies with our reseller and vendor partners − this year and in the years to come.” “I am very excited about the opportunity to join Wayside Technology,” said Dale Foster, Executive Vice President. “I look forward to joining a very successful organization and continuing to build a world class specialty distributor, focused on the unique needs of emerging technology platforms.” “I share Dale’s excitement in joining Wayside. I believe that we have an outstanding opportunity before us to meet the needs of emerging technology vendors. I think that there is a significant unmet need in the market that we plan to efficiently fill,” added Charles Bass. A bou t Wayside Technology Group, Inc. Wayside Technology Group, Inc. (NASDAQ:WSTG) was founded in 1982 and is a unified and integrated technology company providing products and solutions for corporate resellers, VARs, and developers as well as business, government and educational entities. The company offers technology products from software publishers and manufacturers including Acronis, Bitdefender, Bluebeam Software, Dell Software, erwin, ExaGrid Systems, Flexera Software, Hewlett Packard, Infragistics, Intel Software, Lenovo, Micro Focus, Microsoft, Mindjet, Samsung, SmartBear Software, SolarWinds, Sophos, StorageCraft Technology, Super Micro Computer, Inc., TechSmith, Unitrends, Veeam Software and VMware. Additional information can be found by visiting www.waysidetechnology.com . For Media & PR inquiries contact: Media Relations Wayside Technology Group, Inc. media@waysidetechnology.com (732) 389-0932 The statements in this release concerning the Company’s future prospects are forward-looking statements that involve certain risks and uncertainties. Such risks and uncertainties include the continued acceptance of the Company’s distribution channel by vendors and customers, the timely availability and acceptance of new products, and contribution of key vendor relationships and support programs. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission. Source:Wayside Technology Group, Inc.

http://www.cnbc.com/2018/01/04/globe-newswire-dale-foster-and-charles-bass-join-wayside-technology-group.html

Tennis-Zverev collapses to defeat by South Korea's Chung

January 20, 2018 / 7:58 AM / Updated 16 minutes ago Tennis-Zverev collapses to defeat by South Korea's Chung Martyn Herman 2 Min Read MELBOURNE, Jan 20 (Reuters) - Relentless South Korean Hyeon Chung ground fourth seed Alexander Zverev into submission in a ferocious battle of young guns to reach the fourth round of the Australian Open on Saturday. German wunderkind Zverev, tipped as a title contender, led by two sets to one but 58th-ranked Chung was unflappable and roared back to win 5-7 7-6(3) 2-6 6-3 6-0. It all proved too much for 20-year-old Zverev, who began to unravel in the fourth set, complaining bitterly to the umpire that the lights should be switched on despite it being only 6 p.m. in overcast Melbourne. “I can’t see anything,” the German told the official. The lights were duly switched on but once the bespectacled Chung took the fourth set, there only looked to be one winner. Zverev, who is yet advance past the last 16 at a grand slam, double-faulted twice to gift Chung a break at the start of the fifth and when he dropped serve again two games later he demolished his racket, earning a warning. The end came quickly as Zverev capitulated, netting a backhand to hand Chung victory as he became only the third South Korean slam. “It was a really tough match, I was just trying to play 100 percent out there,” Chung, a year older than Zverev, said on court. He will play either six-times champion Novak Djokovic or Albert Ramos-Vinolas in the next round. (Reporting by Martyn Herman; Editing by John O‘Brien)

https://uk.reuters.com/article/tennis-ausopen-zverev/tennis-zverev-collapses-to-defeat-by-south-koreas-chung-idUKL3N1PF05X

Cycling: Wellens says asthma inhaler use amounts to 'cheating'

January 11, 2018 / 12:00 PM / in a minute Cycling: Wellens says asthma inhaler use amounts to 'cheating' Reuters Staff 2 Min Read PARIS (Reuters) - Belgian rider Tim Wellens described the use of anti-asthma inhalers as tantamount to cheating, after four-times Tour de France champion Chris Froome failed a test for Salbutamol during last year’s Tour of Spain. Briton Froome, who suffers from asthma and denies breaking any rules, could potentially be stripped of his Vuelta a Espana title after results showed a urine test he gave during the race in September showed excessive levels of the asthma medication. “To me, it’s cheating. Sometimes, when you are sick, you don’t have a choice and you have to take it . But you can also choose to pull out (of the race),” Belgian TV station RTBF quoted Wellens as saying. Wellens pulled out of the Tour de France last year because of breathing problems. “I underwent tests at the hospital and I learnt that with an inhaler, I could increase my breathing capacity by 7 or 8 per cent. But I am against inhalers, I don’t want to increase my breathing capacity in that way,” the Lotto Soudal rider said. “I would want things to be black or white, not grey.” Froome, who rides for Team Sky, says he has done nothing wrong and would provide whatever information world cycling’s governing UCI requires. Salbutamol is permitted as a legal asthma drug by the World Anti-Doping Agency (WADA), and the UCI said Froome’s failed urine test did not necessitate a mandatory provisional suspension. But riders have been banned for excessive use of it in the past, notably Italian Alessandro Petacchi who was given a 12-month suspension and stripped of his five stage victories in the 2007 Giro d‘Italia. Reporting by Julien Pretot; Editing by Ralph Boulton

https://www.reuters.com/article/us-cycling-froome-wellens/cycling-wellens-says-asthma-inhaler-use-amounts-to-cheating-idUSKBN1F01F6

TPG RE Finance Trust, Inc. Announces Tax Treatment of 2017 Dividends

NEW YORK--(BUSINESS WIRE)-- TPG RE Finance Trust, Inc. (NYSE: TRTX) (the “Company”) today announced the tax treatment of its 2017 common stock dividends. The following table summarizes, for tax purposes, the nature of cash dividends paid with respect to TRTX’s common shares for the tax year ended December 31, 2017: Common Stock (CUSIP # 87266M107) Record Payment Total Distribution Ordinary Income Capital Gain Non-Dividend Date Date Per Share (3) Per Share Per Share Distributions 12/23/2016 (1) 2/1/2017 $0.3657 $0.3572 $0.0085 $0.0000 3/31/2017 4/25/2017 $0.5425 $0.5298 $0.0127 $0.0000 6/30/2017 7/25/2017 $0.5100 $0.4981 $0.0119 $0.0000 10/6/2017 10/25/2017 $0.3300 $0.3223 $0.0077 $0.0000 12/29/2017 (2) 1/25/2018 $0.3800 $0.3711 $0.0089 $0.0000 (1) A portion of the dividend declared on December 23, 2016 and paid on February 1, 2017 is treated as a 2017 distribution for federal income tax purposes and will be included on the 2017 Form 1099-DIV. (2) Pursuant to IRC Section 857(b)(9), cash distributions made on January 25, 2018 with a record date of December 29, 2017 are treated for federal income tax purposes as received by shareholders on December 31, 2017 to the extent of the Company’s 2017 tax earnings and profits. (3) A stock dividend of 1.235 per common share was declared for the holders of record as of July 3, 2017, resulting in the issuance of 9,455,083 shares of common stock on July 25, 2017, in conjunction with the closing of Company’s initial public offering (“IPO”) of 11,000,000 shares of common stock. On August 22, 2017 the Company issued an additional 650,000 shares of common stock pursuant to the underwriters’ execution of the overallotment option for the IPO. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company’s dividends. For additional information, please refer to the Investor Relations section of the Company’s website. ABOUT TRTX TPG RE Finance Trust, Inc. is a commercial real estate finance company that focuses primarily on originating, acquiring, and managing first mortgage loans and other commercial real estate‐related debt instruments secured by high quality institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of TPG Global, LLC (“TPG”). TPG is a leading global alternative investment firm with a 25-year history and approximately $73 billion of assets under management. For more information regarding TRTX, visit www.tpgrefinance.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180129005872/en/ TPG RE Finance Trust, Inc. Investor Relations: 212-405-8500 IR@tpgrefinance.com or Media: Luke Barrett, 415-743-1550 media@tpg.com Source: TPG RE Finance Trust, Inc.

http://www.cnbc.com/2018/01/29/business-wire-tpg-re-finance-trust-inc-announces-tax-treatment-of-2017-dividends.html

Work begins to raise plane in which Compass CEO and family killed

January 3, 2018 / 11:06 PM / Updated 14 minutes ago Plane lifted from Sydney river after crash killed British CEO Tom Westbrook 3 Min Read SYDNEY (Reuters) - Australian investigators and police hoisted the wreckage of a seaplane from the Sydney river where it sank after crashing on New Year’s Eve, killing six people, including the chief executive of British catering company Compass Group Plc ( CPG.L ). Richard Cousins, 58, his two sons, his fiance and her daughter and the pilot were killed when the plane hit the water shortly after takeoff on Sunday. The family were on a short tourist flight, operated by Sydney Seaplanes, from a waterfront restaurant on the Hawkesbury River, north of Sydney, to Rose Bay in the city’s east. A preliminary report into the crash was expected in about 30 days, with a final report taking up to 12 months, according to Australian Transport Safety Bureau executive director Nat Nagy. “We are reasonably confident that we will be able to do a thorough examination of the key components of the aircraft, to understand whether they were operating correctly at the time,” Nagy told reporters. Police divers wrapped slings around the fuselage and a barge fitted with a small crane slowly lifted the wreck, upside down and without wings, from about 13 metres of water near Cowan, 40 km (25 miles) north of Sydney. The propeller, cockpit and front section of fuselage were crumpled, and the landing floats were raised separately. The pieces were loaded on to the barge deck and covered with a tarpaulin, television pictures showed. Air crash investigation records, first reported by the Sydney Morning Herald newspaper on Thursday and reviewed by Reuters, show a plane with the same serial number crashed 21 years earlier, when it was being used as a crop duster. The 1996 accident report found that the aircraft, a DHC-2 de Havilland Canada, likely stalled and that conditions were gusty when it crashed, killing the pilot. “It was repaired after the accident and all appropriate approvals and checks were done. It was then re-registered and went back into service,” a spokesman for Australia’s Civil Aviation Safety Authority said in an email. A spokesman for Sydney Seaplanes said the company had no comment while the investigation into the crash continues. Additional reporting by James Regan; Editing by Nick Macfie

https://uk.reuters.com/article/uk-australia-airplane/work-begins-to-raise-plane-in-which-compass-ceo-and-family-killed-idUKKBN1ES24I

UPDATE 1-Swedish debt office says debt market under growing strain from QE

* Riksbank now holds about 46 pct of outstanding govt debt * Budget surplus could lead to lower borrowing * Govt debt at lowest levels since late 1970s (Adds further Debt Office, central bank comment) STOCKHOLM, Jan 23 (Reuters) - Liquidity in Sweden’s government debt market is increasingly strained as a result of the central bank’s bond purchase programme, the head of the Swedish Debt Office said on Tuesday. The Riksbank has bought around 300 billion crowns ($37 billion) of bonds in the last three years and now owns nearly half the outstanding stock of government paper. Strong government finances and changes in capital regulations have also negatively affected liquidity. “The Riksbank has bought about 46 percent of the outstanding stock of bonds. This contributes to deteriorating liquidity in the market,” Debt Office Director General Hans Lindblad said during a parliamentary hearing on financial stability. Lindblad said a larger than expected budget surplus last year could force the Debt Office to further cut already meagre borrowing plans. “Clearly, when you can see that much more money than expected is rolling in, there is naturally a risk that we will have to revise our borrowing forecast downward,” Lindblad told reporters. The government ran a 61.8 billion crown budget surplus in 2017, much higher than the Debt Office’s October forecast of 28.3 billion crowns. Government debt levels -- at around 31 percent of GDP -- are already at their lowest level since the late 1970s, according to Finance Minister Magdalena Andersson. Lindblad’s warning reflects increasing signs of strain in the bond market. Average daily volumes in the Debt Office’s repo facility have soared to roughly 60 billion crowns from just above zero early in 2015 when the central bank started buying bonds. In the latest central bank minutes, Deputy Governor Cecilia Skingsley pointed to problems for investors in making large transactions. “Tendencies towards the divergence of indicative prices and actual final prices are another sign that the functioning of the market has deteriorated,” she said in the minutes. “Being an investor but being unable to adjust holdings effectively is a deterrent towards future market presence.” Foreign ownership of Swedish debt has declined sharply over the last three years, Statistics Office data shows. At its last meeting in December, the central bank said it would end net new bond purchases, but brought forward reinvestments of bonds maturing further ahead, something that will boost its balance sheet significantly during 2018. $1 = 8.0379 Swedish crowns Reporting by Simon Johnson and Daniel Dickson; editing by Niklas Pollard

https://www.reuters.com/article/sweden-bonds/update-1-swedish-debt-office-says-debt-market-under-growing-strain-from-qe-idUSL8N1PI3VN

Israel's Spacecom expands deal for satellite service to Nepal

January 2, 2018 / 12:55 PM / Updated 7 minutes ago Israel's Spacecom expands deal for satellite service to Nepal TEL AVIV (Reuters) - Israel’s Space Communication Ltd, operator of the Amos satellites, said on Tuesday Nepal’s Dish Media Network has contracted for more capacity on the Amos-4 satellite starting in the fourth quarter. The additional capacity will increase Spacecom’s revenue from Dish Media Network by $16.7 million, bringing total future revenue expected from the customer to $76.9 million. Amos-4 provides services to customers from South Asia to East Africa. Dish Media Network owns fast growing operator, Dishhome, whose network covers all of Nepal. With substantial satellite capacity on Amos-4, Dishhome will expand service offerings. Dishhome’s capacity on Amos-4 is contracted for the satellite’s lifetime. Reporting by Tova Cohen

https://uk.reuters.com/article/us-space-com-nepal-contract/israels-spacecom-expands-deal-for-satellite-service-to-nepal-idUKKBN1ER0ZK

Grad school can be worth it if you pick wisely: study

January 11, 2018 / 3:06 AM / Updated 4 hours ago Grad school can be worth it if you pick wisely: study Reuters Staff 5 Min Read (The Jan. 10 story was refiled to clarify description of Sallie Mae as a student loan lender instead of a student loan servicer in paragraph 3.) By Beth Pinsker NEW YORK (Reuters) - There is a sharp contrast between how graduate school students and undergraduate students approach paying for their educations. While parents typically pay the bulk of tuition for bachelor’s degrees, those pursuing advanced degrees are largely left to their own devices. As a result, grad students need to make careful decisions about the return on investment for their costly degrees. Graduate students are footing more than half of their education bills with loans in their own names, according to the How America Pays for Graduate School report from student loan lender Sallie Mae. The report, released on Wednesday, marks the first time Sallie Mae has polled post-secondary students on how they pay for schooling. The study found that just 15 percent of their educational funding comes from grants and scholarships. A quarter of the average $24,812 per-year tuition bill comes directly from student earnings, and hardly any comes from family contributions, according to the study. For these students, the costs can be enormous, especially for law and medical programs, but the rewards can be just as big. Almost 60 percent expect to make $20,000 more a year than they would have without a degree, according to Sallie Mae. Success depends on whether the students pick a program and pursue a career that will pay off for them in the end. CAREFUL SELECTION When financial aid expert Jodi Okun, author of “Secrets of a Financial Aid Pro,” has clients ask how to fund grad school, they typically have already done their homework on the net cost of the programs, the prestige of the schools and what they will do with their degrees. One woman wanted to get a physician’s assistant degree and her journey was typical of what the Sallie Mae study outlines. Her family was involved in her undergrad financing, but she was on her own with grad school. When choosing a program, she vacillated between a less expensive school and a more prestigious one, and eventually went for the big name. “The most expensive programs with the most debt – like law and medical – have enormous return on investment,” said Andrew Hanson, senior research analyst at the Georgetown University Center on Education and the Workforce. Although women constitute nearly 60 percent of the U.S. undergrad population, they are almost at parity with men in graduate school admission, according to government statistics. Program selection factors greatly in the gender wage gap. Hanson noted that 34 percent of women pursuing graduate degrees are in an education field, where the median salary is less than $70,000, while that field attracts only 13 percent of men in grad school. By contrast, men are over-represented in fields like internet technology and business, where median earnings are over $100,000. Research also shows that men tend to be over-represented in the highest-prestige programs, where the stipends and grants are most generous, so they end up having to take on less debt. “The segregation of men and women into different fields and into higher and lower prestige institutions is going to tend to exacerbate gender inequality in career outcomes among those who receive PhDs,” said Kim Weeden, a professor of sociology at Cornell University. As the Sallie Mae study shows, the typical grad student is not pursuing a doctorate at Harvard, but is instead working on a master‘s. Tuition could be waived, and there is probably a stipend. If the student is too busy with course work and teaching to get another job, she is borrowing to cover living expenses. “Compared to going to undergrad, where it’s part of the American dream, far fewer grad students say they are going for a social experience. It’s for investing in the future and earnings. It’s tactical,” said Julia Clark, senior vice president at Ipsos, the polling firm that conducted the study for Sallie Mae. In order for the gender wage gap to be eventually eliminated, a lot of math teachers are going to have to turn into engineers. “A lot of those choices result from interest, values and personality traits, but we want to make fields more open,” said Georgetown’s Hanson. Editing by Lauren Young and Matthew Lewis

https://www.reuters.com/article/us-money-education-gradstudents/grad-school-can-be-worth-it-if-you-pick-wisely-study-idUSKBN1F009O

Stock futures edge higher after Morgan Stanley results

January 18, 2018 / 1:02 PM / Updated 33 minutes ago Wall St. ends lower as industrial shares weigh Reuters Staff 1 Min Read NEW YORK (Reuters) - Wall Street ended lower on Thursday as losses in industrial stocks and interest-rate sensitive sectors offset marginal gains in tech stocks. The Dow Jones Industrial Average .DJI fell 97.01 points, or 0.37 percent, to 26,018.64, the S&P 500 .SPX lost 4.45 points, or 0.16 percent, to 2,798.11 and the Nasdaq Composite .IXIC dropped 2.23 points, or 0.03 percent, to 7,296.05. Reporting by April Joyner; Editing by Nick Zieminski

https://www.reuters.com/article/us-usa-stocks/stock-futures-edge-higher-after-morgan-stanley-results-idUSKBN1F71NW

BRIEF-Andeavor Sees Q4 EPS Of About $5.55 To $5.65

Jan 30 (Reuters) - Andeavor: * SEES Q4 EARNINGS PER SHARE ABOUT $5.55 TO $5.65 * ‍PLANS FOR 2018-2020 TO GROW EBITDA BY $1.4 BILLION​ * ‍Q4 RESULTS INCLUDE ABOUT $920 MILLION BENEFIT DUE TO RE-MEASUREMENT OF CO‘S NET DEFERRED TAX LIABILITIES DUE TO TAX LAW * ‍FEDERAL TAX-REFORM LEGISLATION TO RESULT IN ADDITIONAL CUMULATIVE CASH FLOW FROM OPERATIONS OF ABOUT $1 BILLION TO $1.5 BILLION THROUGH 2020​ * ‍DURING Q4, REFINING MARGINS WERE REDUCED BY APPROXIMATELY $135 MILLION​ * ‍Q4 REFINING SEGMENT OPERATING LOSS EXPECTED TO BE $50 MILLION TO $55 MILLION​ * ‍AS PART OF ITS FIRST HALF 2018 TURNAROUND PLANS, COMPANY BUILT PRODUCT INVENTORIES THAT WILL BE SOLD IN FIRST HALF OF 2018​ * BUILD UP OF PRODUCT INVENTORIES AS PART OF H1 2018 TURNAROUND NEGATIVELY IMPACTED Q4 RESULTS BY ABOUT $50 MILLION​ * THE PRELIMINARY RESULTS INCLUDE WESTERN REFINING INTEGRATION CHARGES OF ABOUT $25 MILLION FOR Q4 Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-andeavor-sees-q4-eps-of-about-555/brief-andeavor-sees-q4-eps-of-about-5-55-to-5-65-idUSASB0C34F

State Street Reports Fourth-Quarter 2017 GAAP-Basis EPS of $0.89, ROE of 6.9% and Revenue of $2.8 Billion; Includes One-Time Net Cost of $270 Million or -$0.72 Per Share Related to Tax Reform (1)

4Q17 Operating-Basis Results Include EPS of $1.83, ROE of 14.1%, and Revenue of $3.0 Billion Expects Beacon Target Savings of $550 Million to Be Realized by Mid-2019, 18 Months Ahead of Schedule Assets under Custody and Administration of $33.1 Trillion and Assets under Management of $2.8 Trillion, Reached Record Levels at Year-End Achieved Previously Announced 2017 Financial Objectives (2) BOSTON--(BUSINESS WIRE)-- In announcing today’s financial results, Joseph L. Hooley, State Street’s Chairman and Chief Executive Officer, said, "Our full-year 2017 results reflect strength across our asset servicing and asset management businesses, with record levels of assets under custody and administration and assets under management, and importantly, achievement of our 2017 financial objectives. We also made significant progress with our Beacon program, achieving benefits for our clients while also realizing $150 million in savings. I am pleased that we have already exceeded our Beacon target to achieve an operating-basis pre-tax margin of 31% by 2018, and generated 210 basis points of positive fee operating leverage in 2017." This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180123005773/en/ (1) The effects of the TCJA described in this News Release are estimates. Actual effects of the TCJA may differ from these estimates, among other things, due to additional tax and regulatory guidance and changes in State Street assumptions and interpretations. (2) Operating-basis 2017 financial objectives (relative to 2016) consist of: revenue growth of 4-6%; positive fee operating leverage of 100-200 basis points; a 4-6% increase of NII; and a reduction in average interest earning assets of 0-5%. Hooley added, "Our strong fourth-quarter results included a 7% increase in servicing fees from the year-ago quarter. Excluding the impact related to the recent tax law changes, we achieved double-digit EPS growth as well as an increase in return on equity. We continue to benefit from our strong market position and our ability to deliver servicing solutions evidenced by the approximately $445 billion of new servicing commitments in the fourth quarter. Our business is well-positioned for growth in 2018 including the further advancement and benefits from Beacon. We now expect to realize Beacon's financial objectives by the middle of 2019." Hooley concluded, "We’ve maintained a strong capital position, enabling significant return of capital to shareholders. In 4Q17, we purchased approximately $350 million of our common stock and declared a quarterly common stock dividend of $0.42 per share." 4Q17 Highlights Selected Results: GAAP-basis (a) (Dollars in millions, except per share data, or where otherwise noted) 4Q16 GAAP-basis Financial Results 4Q17 GAAP-basis Financial Results % change ex notable items As reported 4Q16 notable items 4Q16 ex notable items As reported Tax law change impact 4Q17 notable items Diluted earnings per share $ 1.43 $ 0.13 $ 1.30 $ 0.89 $ (0.72 ) $ 1.61 24 % Return on average common equity 12.1 % 1.1 % pts 11.0 % 6.9 % (5.5 )% pts 12.4 % 1.4 % pts Total revenue $ 2,530 $ — $ 2,530 $ 2,846 $ (20 ) $ 2,866 13 % Fee revenue 2,014 — 2,014 2,230 (18 ) 2,248 12 % Total expenses 2,183 249 1,934 2,131 — 2,131 10 % Pre-tax operating margin 13.6 % (9.9 )% pts 23.5 % 25.2 % (0.5 )% pts 25.7 % 2.2 % pts Fee Operating Leverage 1.4 % pts Selected Results: Operating-basis (a) (Dollars in millions, except per share data, or where otherwise noted) 4Q16 Operating-basis Financial Results 4Q17 Operating-basis Financial Results As reported % change ex notable items (Operating-basis) As reported 4Q16 notable items 4Q16 ex notable items Diluted earnings per share $ 1.48 $ 0.13 $ 1.35 $ 1.83 36 % Return on average common equity 12.5 % 1.1 % pts 11.4 % 14.1 % 2.7 % pts Total revenue $ 2,749 — $ 2,749 $ 2,984 9 % Fee revenue 2,200 — 2,200 2,326 6 % Total expenses 2,143 249 1,894 1,998 5 % Pre-tax operating margin 22.0 % (9.0 )% pts 31.0 % 33.1 % 2.1 % pts Fee Operating Leverage 0.2 % pts (a) Notable items referenced in the above GAAP-basis table consist of: 4Q17 estimated one-time net costs of $270 million (-$0.72 per share) related to tax reform of which $250 million is recorded in tax expense and $20 million is recorded as a reduction in revenue; and, in 4Q16, a tax benefit of $211 million ($0.54 per share) and an acceleration of compensation expense of $249 million pre-tax, $161 million after-tax (-$0.41 per share) for a combined net benefit of $0.13 per share. Notable items referenced in the above operating-basis table consist of the foregoing referenced 4Q16 tax benefit ($211 million, or $0.54 per share) and acceleration of compensation expense ($249 million pre-tax, $161 million after-tax, or -$0.41 per share). Our presentation of financial results excluding notable items, as well as our presentation of operating-basis financial results generally, are non-GAAP presentations. The final impact of the recently enacted tax reform, may differ from these estimates due to additional guidance from the taxing authorities and changes in State Street assumptions and interpretations. Refer to the addendum to this News Release for explanations of our non-GAAP financial measures and related reconciliations. AUCA/AUM Broad-based business momentum: Record asset servicing AUCA at 4Q17 quarter-end increased 15% from 4Q16 quarter-end due to strength in equity markets, flows, and new business. Record asset management AUM at 4Q17 quarter-end, increased 13% compared to 4Q16 quarter-end, driven by strength in equity markets. New business: New asset servicing mandates during 4Q17 totaled approximately $445 billion. Servicing assets remaining to be installed in future periods totaled approximately $350 billion at quarter-end. In our asset management business, we experienced net inflows of $6 billion during 4Q17. Revenue Fee revenue: Increased in 4Q17 from 4Q16, primarily driven by strength in servicing fees, management fees, securities finance revenue, and the impact of the weaker U.S. dollar, partially offset by lower trading services revenue. Servicing and management fees: Benefiting from higher global equity markets and new business, 4Q17 servicing and management fees increased 7% and 16%, respectively, compared to 4Q16. Net interest income: Increased in 4Q17 from 4Q16, driven by higher market interest rates in the U.S., disciplined liability pricing, and loan portfolio growth, partially offset by a smaller balance sheet. Expenses Expenses: 4Q16 expenses included $249 million related to the acceleration of compensation expense. Excluding the 4Q16 acceleration of compensation expense, 4Q17 operating-basis expenses increased compared to 4Q16 due to investments to support new business, annual merit increases and performance-based incentives and the impact of the weaker U.S. dollar, partially offset by Beacon savings. Fee operating leverage: Excluding the acceleration of compensation expense, compared to 4Q16, achieved 24 basis points of positive fee operating leverage. Beacon Solutions and services : Beacon initiatives continue to enhance product development and deliver value-added benefits to clients. Automations and efficiencies : We now expect to realize the previously announced Beacon target savings of $550 million by the middle of 2019, 18 months early. In 2017, we realized $150 million in pre-tax savings toward that goal, including $50 million in 4Q17. GAAP-basis 4Q17: Results included $133 million, $87 million after-tax ( $0.23 per share), in restructuring expenses related to our previously announced Beacon goals. Tax Law Impact (a) Tax reform: 4Q17 includes a one-time estimated net impact of $270 million associated with the Tax Cuts and Jobs Act (TCJA). Estimated tax expense of approximately $250 million primarily consisting of a one-time repatriation tax of $454 million, partially offset by a reduction in deferred tax liabilities of $197 million. A one-time reduction of approximately $20 million in revenue, primarily within processing fees and other revenue, due to accelerated amortization expense associated with tax-advantaged investments. A decrease in the 4Q17 common equity tier 1 ratio and supplementary leverage ratio of approximately 30 basis points and 15 basis points, respectively. Capital Key metrics: Relative to 4Q16, the estimated Basel III common equity tier 1 ratio for 4Q17 was 11.9% and our estimated leverage ratio was 7.3%; up 30 basis points and 80 basis points, respectively. (a) The effects of the TCJA described in this News Release are estimates. Actual effects of the TCJA may differ from these estimates, among other things, due to additional tax and regulatory guidance and changes in State Street assumptions and interpretations. 4Q17 GAAP-Basis Results (Table presents summary results, dollars in millions, except per share amounts, or where otherwise noted) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Total fee revenue $ 2,230 $ 2,242 (0.5 )% $ 2,014 10.7 % Net interest income 616 603 2.2 514 19.8 Total revenue 2,846 2,846 — 2,530 12.5 Provision for loan losses (2 ) 3 nm 2 nm Total expenses 2,131 2,021 5.4 2,183 (2.4 ) Net income available to common shareholders 334 629 (46.9 ) 557 (40.0 ) Earnings per common share: Diluted earnings per share 0.89 1.66 (46.4 ) 1.43 (37.8 ) Financial ratios : Quarterly average total assets 216,348 218,369 (0.9 ) 232,999 (7.1 ) Fee operating leverage (1) (598 ) bps 1,310 bps Operating leverage (1) (544 ) 1,487 Return on average common equity 6.9 % 13.0 % (610 ) 12.1 % (520 ) Return on tangible common equity (2) 16.7 18.0 (130 ) 17.7 (100 ) Pre-tax operating margin 25.2 28.9 (370 ) 13.6 1,160 (1) The financial ratio represents the rate of growth of total revenue (or fee revenue) less the rate of growth of expenses relative to the preceding or prior year period, as applicable. (2) Return on tangible common equity is calculated by dividing year-to-date annualized net income available to common shareholders (GAAP-basis) by tangible common equity. For additional information on the Reconciliation of Tangible Common Equity Ratio refer to the addendum included with this News Release. nm Not meaningful 4Q17 Operating-Basis (Non-GAAP) Results (Table presents summary results, dollars in millions, except per share amounts, or where otherwise noted) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Total fee revenue (1) $ 2,326 $ 2,321 0.2 % $ 2,200 5.7 % Net interest income (2) 658 645 2.0 547 20.3 Total revenue (2) 2,984 2,967 0.6 2,749 8.5 Provision for loan losses (2 ) 3 nm 2 nm Total expenses 1,998 1,988 0.5 2,143 (6.8 ) Net income available to common shareholders 687 648 6.0 577 19.1 Earnings per common share: Diluted earnings per share 1.83 1.71 7.0 1.48 23.6 Financial ratios : Fee operating leverage (3) (28 ) bps 1,250 bps Operating leverage (3) 7 1,532 Return on average common equity 14.1 % 13.4 % 70 12.5 % 160 Return on tangible common equity (4) 20.4 19.0 140 18.8 160 Pre-tax operating margin 33.1 32.9 20 22.0 1,110 (1) Beginning with the first quarter of 2017, operating-basis results reflect gains/losses on sales of businesses. The third quarter of 2017 operating-basis results include a pre-tax gain of approximately $26 million on the sale of an alternative trading system. (2) Beginning in 1Q17, management no longer presents discount accretion associated with former conduit securities as an operating-basis adjustment. Therefore, 4Q17 and 3Q17 GAAP and operating-basis results both included $4 million of discount accretion. In 4Q16, operating-basis NII excluded $10 million of discount accretion, and such results have not been revised. (3) See footnote 1 in the 4Q17 GAAP-Basis Results table above. (4) Return on tangible common equity is calculated by dividing year-to-date annualized net income available to common shareholders (operating-basis) by tangible common equity. For additional information on the Reconciliation of Tangible Common Equity Ratio refer to the addendum included with this News Release. nm Not meaningful Operating-Basis (Non-GAAP) Financial Measures In addition to presenting State Street's financial results in conformity with U.S. generally accepted accounting principles, or GAAP, management has also historically (and in this News Release) presented results on a non-GAAP, or operating-basis. Management believed this presentation would support additional meaningful analysis and comparisons of trends with respect to State Street's business operations from period to period. Management may also provide, as appropriate (and in this News Release has provided) additional non-GAAP measures, including capital ratios calculated under regulatory standards scheduled to be effective in the future or other standards, that management also uses in evaluating State Street’s business and activities. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in conformity with GAAP. Summary results presented on a GAAP-basis, descriptions of our non-GAAP financial measures and reconciliations of non-GAAP information to GAAP-basis information are provided in the addendum included with this News Release. The following table reconciles select 4Q17 operating-basis financial information to financial information prepared and reported in conformity with GAAP for the same period. The addendum included with this News Release includes additional reconciliations. 4Q17 Selected Operating-Basis (Non-GAAP) Reconciliations (In millions, except per share amounts) Income Before Income Tax Expense Net Income Available to Common Shareholders Earnings Per Common Share GAAP-basis $ 717 $ 334 $ .89 Tax-equivalent non-operating adjustments Tax-advantaged investments (processing fees and other revenue) 78 Tax-exempt investment securities (net interest income) 40 Total 118 Other non-operating adjustments Restructuring costs (expenses) (1) 133 87 .23 Effect on income tax of non-operating adjustments — (4 ) (.01 ) Impact of tax legislation 20 270 .72 Total 153 353 .94 Operating-basis $ 988 $ 687 $ 1.83 (1) Represents a pre-tax charge of $133 million ($87 million after tax or $.23 per share) related to Beacon. Selected Financial Information and Metrics The tables below provide a summary of selected financial information and key ratios for the indicated periods. The following table presents AUCA, AUM, market indices and average foreign exchange rates for the periods indicated. (Dollars in billions, except market indices and foreign exchange rates) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Assets under custody and administration (1)(2) $ 33,119 $ 32,110 3.1 % $ 28,771 15.1 % Assets under management (2) 2,782 2,673 4.1 2,468 12.7 Market Indices (3) : S&P 500 ® daily average 2,603 2,467 5.5 2,185 19.1 MSCI EAFE ® daily average 2,005 1,934 3.7 1,660 20.8 MSCI ® Emerging Markets daily average 1,125 1,068 5.3 877 28.3 HFRI Asset Weighted Composite ® monthly average 1,386 1,358 2.1 1,292 7.3 Barclays Capital U.S. Aggregate Bond Index ® period-end 2,046 2,038 0.4 1,976 3.5 Barclays Capital Global Aggregate Bond Index ® period-end 485 480 1.0 451 7.5 Average Foreign Exchange Rate (Euro vs. USD) 1.178 1.175 0.3 1.078 9.3 Average Foreign Exchange Rate (GBP vs. USD) 1.328 1.309 1.5 1.242 6.9 (1) Includes assets under custody of $25,020 billion, $24,240 billion and $21,725 billion, as of 4Q17, 3Q17, and 4Q16, respectively. (2) As of period-end. (3) The index names listed in the table are service marks of their respective owners. Assets Under Management The following table presents 4Q17 activity in AUM by product category. (Dollars in billions) Equity Fixed-Income Cash (2) Multi-Asset-Class Solutions Alternative Investments (3) Total Balance as of September 30, 2017 $ 1,640 $ 399 $ 347 $ 134 $ 153 $ 2,673 Long-term institutional inflows (1) 89 28 — 27 3 147 Long-term institutional outflows (1) (102 ) (19 ) — (19 ) (8 ) (148 ) Long-term institutional flows, net (13 ) 9 — 8 (5 ) (1 ) ETF flows, net 26 3 — — (1 ) 28 Cash fund flows, net — — (21 ) — — (21 ) Total flows, net 13 12 (21 ) 8 (6 ) 6 Market appreciation 90 2 4 5 (1 ) 100 Foreign exchange impact 2 1 — — — 3 Total market/foreign exchange impact 92 3 4 5 (1 ) 103 Balance as of December 31, 2017 $ 1,745 $ 414 $ 330 $ 147 $ 146 $ 2,782 (1) Amounts represent long-term portfolios, excluding ETFs. (2) Includes both floating and constant-net-asset-value portfolios held in commingled structures or separate accounts. (3) Includes real estate investment trusts, currency and commodities, including SPDR ® Gold Shares ETF and SPDR ® Long Dollar Gold Trust ETF. State Street is not the investment manager for the SPDR ® Gold Shares ETF and the SPDR ® Long Dollar Gold Trust ETF, but acts as the marketing agent. The following table presents 2017 activity for the year ended December 31, 2017 in AUM by product category. (Dollars in billions) Equity Fixed-Income Cash (2) Multi-Asset-Class Solutions Alternative Investments (3) Total Balance as of December 31, 2016 $ 1,474 $ 378 $ 333 $ 126 $ 157 $ 2,468 Long-term institutional inflows (1) 271 93 — 57 19 440 Long-term institutional outflows (1) (344 ) (92 ) — (52 ) (40 ) (528 ) Long-term institutional flows, net (73 ) 1 — 5 (21 ) (88 ) ETF flows, net 25 11 — — 2 38 Cash fund flows, net — — (8 ) — — (8 ) Total flows, net (48 ) 12 (8 ) 5 (19 ) (58 ) Market appreciation 293 14 2 11 3 323 Foreign exchange impact 26 10 3 5 5 49 Total market/foreign exchange impact 319 24 5 16 8 372 Balance as of December 31, 2017 $ 1,745 $ 414 $ 330 $ 147 $ 146 $ 2,782 (1) Amounts represent long-term portfolios, excluding ETFs. (2) Includes both floating and constant-net-asset-value portfolios held in commingled structures or separate accounts. (3) Includes real estate investment trusts, currency and commodities, including SPDR ® Gold Shares ETF and SPDR ® Long Dollar Gold Trust ETF. State Street is not the investment manager for the SPDR ® Gold Shares ETF and the SPDR ® Long Dollar Gold Trust ETF, but acts as the marketing agent. Revenue The following tables provide the components of our GAAP-basis and operating-basis revenue for the periods noted. GAAP-Basis Revenue (Dollars in millions) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Servicing fees $ 1,379 $ 1,351 2.1 % $ 1,289 7.0 % Management fees 418 419 (0.2 ) 361 15.8 Trading services revenue: Foreign exchange trading 149 150 (0.7 ) 182 (18.1 ) Brokerage and other fees 99 109 (9.2 ) 111 (10.8 ) Total trading services revenue 248 259 (4.2 ) 293 (15.4 ) Securities finance revenue 147 147 — 136 8.1 Processing fees and other revenue 38 66 (42.4 ) (65 ) nm Total fee revenue 2,230 2,242 (0.5 ) 2,014 10.7 Net interest income 616 603 2.2 514 19.8 Gains (losses) related to investment securities, net — 1 nm 2 nm Total Revenue $ 2,846 $ 2,846 — $ 2,530 12.5 Net interest margin 1.38 % 1.35 % 3 bps 1.09 % 29 bps nm Not meaningful Operating-Basis (Non-GAAP) Revenue (Dollars in millions) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Servicing fees $ 1,379 $ 1,351 2.1 % $ 1,289 7.0 % Management fees 418 419 (0.2 ) 361 15.8 Trading services revenue: Foreign exchange trading 149 150 (0.7 ) 182 (18.1 ) Brokerage and other fees 99 109 (9.2 ) 111 (10.8 ) Total trading services revenue 248 259 (4.2 ) 293 (15.4 ) Securities finance revenue 147 147 — 136 8.1 Processing fees and other revenue 134 145 (7.6 ) 121 10.7 Total fee revenue (1) 2,326 2,321 0.2 2,200 5.7 Net interest income (2) 658 645 2.0 547 20.3 Gains (losses) related to investment securities, net — 1 nm 2 nm Total Revenue (2) $ 2,984 $ 2,967 0.6 $ 2,749 8.5 Net interest margin 1.38 % 1.35 % 4 bps 1.08 % 31 bps (1) Beginning with the first quarter of 2017, operating-basis results reflect gains/losses on sales of businesses. The third quarter of 2017 operating-basis results include a pre-tax gain of approximately $26 million on the sale of an alternative trading system. (2) Beginning in 1Q17, management no longer presents discount accretion associated with former conduit securities as an operating-basis adjustment. Therefore, 4Q17 and 3Q17 GAAP and operating-basis results both included $4 million of discount accretion. In 4Q16, operating-basis NII excluded $10 million of discount accretion, and such results have not been revised. nm Not meaningful The following highlights primary drivers of changes in our 4Q17 revenue for the noted periods, indicating differences between our GAAP-basis and operating-basis results as appropriate. Servicing fees increased from 4Q16, primarily due to higher global equity markets, new business and the impact of the weaker U.S. dollar, partially offset by modest hedge fund outflows. Compared to 3Q17, servicing fees increased, primarily due to the impact of higher global equity markets and net new business. Management fees increased from 4Q16, primarily due to higher global equity markets and higher revenue yielding ETF inflows. Compared to 3Q17, management fees were down slightly. Trading Services revenue decreased from 4Q16, as strong client volumes were offset by lower foreign exchange volatility, as well as the modest impact of the businesses we exited in 2017. Compared to 3Q17, trading services revenue decreased slightly primarily due to the modest impact of the businesses we exited in 2017. Securities finance revenue increased from 4Q16, reflecting higher client volumes from the agency and enhanced custody businesses, partially offset by spread compression. Compared to 3Q17, securities finance revenue was flat. Processing fees and other revenue on a GAAP-basis increased from 4Q16, primarily due to lower amortization related to tax-advantaged investments. Compared to 3Q17, processing fees and other revenue on a GAAP-basis decreased, reflecting higher amortization expense associated with tax-advantaged investments related to the recently enacted tax law and the impact of a gain related to the sale of an equity trading platform in 3Q17. Processing fees and other revenue increased from 4Q16, reflecting favorable valuation adjustments, partially offset by lower revenue related to tax-advantaged investments. Compared to 3Q17, processing fees and other revenue decreased, primarily reflecting a gain related to the sale of an equity trading platform in 3Q17. Net interest income increased from 4Q16, primarily due to higher U.S. market interest rates, disciplined liability pricing, and loan portfolio growth, partially offset by a smaller balance sheet. Compared to 3Q17, NII increased primarily due to central bank rate hikes and a shift toward higher yielding interest earning assets, partially offset by a smaller balance sheet. GAAP-basis NII does not include a taxable-equivalent adjustment for tax-exempt investment securities. Net interest margin, calculated on an operating-basis, increased 31 basis points compared to 4Q16, and increased 4 basis points compared to 3Q17. Expenses The following tables provide the components of our GAAP-basis and operating-basis expenses for the periods noted. GAAP-Basis Expenses (Dollars in millions) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Compensation and employee benefits $ 1,067 $ 1,090 (2.1 )% $ 1,244 (14.2 )% Information systems and communications 301 296 1.7 278 8.3 Transaction processing services 219 215 1.9 199 10.1 Occupancy 117 118 (0.8 ) 109 7.3 Acquisition and restructuring costs (1) 133 33 303.0 43 209.3 Other 294 269 9.3 310 (5.2 ) Total Expenses $ 2,131 $ 2,021 5.4 $ 2,183 (2.4 ) Effective income tax rate (2) 48.4 % 16.7 % (72.3 )% (1) The 4Q16 acquisition costs associated with the GEAM business acquired on July 1, 2016 was $25 million. In 4Q17, 3Q17 and 4Q16, the restructuring costs associated with Beacon were $133 million, $33 million and $22 million, respectively. (2) As a result of the enactment of the Tax Cuts and Jobs Act, the fourth-quarter of 2017 included a one-time estimated net cost of $270 million. The fourth-quarter of 2016 reflected a one-time benefit of $211 million. The impact of each of these items on the GAAP-basis effective tax rate for the fourth-quarter of 2017 and 2016 was 13.2% and 8.5%, respectively. Operating-Basis (Non-GAAP) Expenses (Dollars in millions) 4Q17 3Q17 Increase (Decrease) 4Q16 Increase (Decrease) Compensation and employee benefits (1) $ 1,067 $ 1,090 (2.1 )% $ 1,246 (14.4 )% Information systems and communications 301 296 1.7 278 8.3 Transaction processing services 219 215 1.9 199 10.1 Occupancy 117 118 (0.8 ) 109 7.3 Other 294 269 9.3 311 (5.5 ) Total Expenses $ 1,998 $ 1,988 0.5 $ 2,143 (6.8 ) Effective income tax rate 26.8 % 27.9 % (1.5 )% (1) Compensation and employee benefits includes $249 million of accelerated compensation expense (-$0.41 per share) for the fourth quarter of 2016. The following highlights primary drivers of changes in our 4Q17 expenses for the noted periods, indicating differences between our GAAP-basis and operating-basis results as appropriate. Compensation and employee benefits expenses decreased from 4Q16, primarily due to $249 million related to the acceleration of compensation expense in 4Q16 and Beacon-related savings, partially offset by increased costs to support new business, annual merit and performance-based incentive compensation increases, and the impact of the weaker U.S. dollar. Compared to 3Q17, compensation and employee benefits expenses decreased, primarily due to Beacon savings, partially offset by increased costs to support new business. Information systems and communications expenses increased from both 4Q16 and 3Q17. The increase from both periods is due to higher technology infrastructure costs and Beacon investments. Transaction processing services expenses increased from both 4Q16 and 3Q17. The increase from both periods reflects higher client volumes and higher market levels. Occupancy expenses increased from 4Q16, primarily reflecting Beacon-related global footprint investments. Other expenses decreased from 4Q16, reflecting lower professional services costs. Other expenses increased from 3Q17, primarily due to higher costs to support new business, including marketing. 4Q17 acquisition and restructuring costs of $133 million increased from $43 million and $33 million in 4Q16 and 3Q17, respectively, related to Beacon. The 4Q17 GAAP-basis effective tax rate was 48.4% compared to (72.3)% in 4Q16 and 16.7% in 3Q17. As a result of the enactment of the TCJA, 4Q17 included a one-time estimated net tax cost of $270 million. (1) 4Q16 reflected a one-time net tax benefit of $211 million. Excluding these items, the 4Q17 and 4Q16 effective tax rates are 13.2% and 8.5%, respectively. The increase in 4Q17 tax rate compared to 4Q16 reflects a decrease in tax-advantaged investments. As compared to 3Q17, the decrease in tax rate is related to an increase in the mix of foreign earnings. The 4Q17 operating-basis effective tax rate was 26.8% compared to (1.5)% in 4Q16 and 27.9% in 3Q17. Excluding a one-time net tax benefit of $211 million, the 4Q16 effective tax rate was 34%. The decrease in the tax rate from 4Q16 is primarily related to a reduction in tax-advantaged investments. (1) The effects of the TCJA described in this News Release are estimates. Actual effects of the TCJA may differ from these estimates, among other things, due to additional tax and regulatory guidance and changes in State Street assumptions and interpretations. The following table presents our regulatory capital ratios as of December 31, 2017 and September 30, 2017. The lower of our capital ratios calculated under the Basel III advanced approaches and under the Basel III standardized approach are applied in the assessment of our capital adequacy for regulatory purposes. Also presented is the calculation of State Street's and State Street Bank's supplementary leverage ratio (SLR). Unless otherwise noted, all capital ratios presented in the table and elsewhere in this News Release refer to State Street Corporation and not State Street Bank and Trust Company. December 31, 2017 (1) Basel III Advanced Approaches (2) Basel III Standardized Approach Basel III Fully Phased-In Advanced Approaches (Estimated) Pro-Forma (2)(3) Basel III Fully Phased-In Standardized Approach (Estimated) Pro-Forma (3) Common equity tier 1 ratio 12.3 % 11.9 % 12.0 % 11.6 % Tier 1 capital ratio 15.5 15.0 15.2 14.7 Total capital ratio 16.5 16.0 16.2 15.7 Tier 1 leverage ratio 7.3 7.3 7.2 7.2 September 30, 2017 Common equity tier 1 ratio 12.6 % 11.6 % 12.3 % 11.3 % Tier 1 capital ratio 15.8 14.5 15.5 14.3 Total capital ratio 16.9 15.6 16.6 15.3 Tier 1 leverage ratio 7.4 7.4 7.3 7.3 State Street State Street Bank As of December 31, 2017 (Dollars in millions) (1) Transitional SLR Fully Phased-In SLR (4) Transitional SLR Fully Phased-In SLR (4) Tier 1 Capital $ 15,382 $ 15,080 $ 16,531 $ 16,240 Total assets for SLR 236,986 236,708 233,790 233,519 Supplementary Leverage Ratio 6.5 % 6.4 % 7.1 % 7.0 % As of September 30, 2017 (Dollars in millions) Tier 1 Capital $ 15,606 $ 15,338 $ 16,323 $ 16,067 Total assets for SLR 240,636 240,366 237,579 237,319 Supplementary Leverage Ratio 6.5 % 6.4 % 6.9 % 6.8 % (1) December 31, 2017 capital ratios are preliminary estimates. (2) The advanced approaches-based ratios (actual and estimated) included in this presentation reflect calculations and determinations with respect to our capital and related matters, based on State Street and external data, quantitative formulae, statistical models, historical correlations and assumptions, collectively referred to as “advanced systems.” Refer to the addendum included with this News Release for a description of the advanced approaches and a discussion of related risks. (3) Estimated pro-forma fully phased-in ratios as of December 31, 2017 and September 30, 2017 (fully phased in as of January 1, 2019, as per Basel III phase-in requirements for capital) reflect capital and total risk-weighted assets calculated under the Basel III final rule. Refer to the addendum included with this News Release for reconciliations of these estimated pro-forma fully phased-in ratios to our capital ratios calculated under the currently applicable regulatory requirements. (4) Estimated pro-forma fully phased-in SLRs as of December 31, 2017 and September 30, 2017 (fully phased-in as of January 1, 2018, as per the phase-in requirements of the SLR final rule) are preliminary estimates as calculated under the SLR final rule. Refer to the addendum included with this News Release for reconciliations of these estimated pro-forma fully phased-in SLRs to our SLRs under currently applicable regulatory requirements. Investor Conference Call and Quarterly Website Disclosures State Street will webcast an investor conference call today, Tuesday, January 23, 2018, at 9:30 a.m. EST, available at http://investors.statestreet.com/ . The conference call will also be available via telephone, at +1 877-423-4013 inside the U.S. or at +1 706-679-5594 outside of the U.S. The Conference ID is # 7497823. Recorded replays of the conference call will be available on the website, and by telephone at +1 855-859-2056 inside the U.S. or at +1 404-537-3406 outside the U.S. beginning approximately two hours after the call's completion. The Conference ID is # 7497823. The telephone replay will be available for approximately two weeks following the conference call. This News Release, presentation materials referred to on the conference call and additional financial information are available on State Street's website, at http://investors.statestreet.com/ under “Investor Relations--Investor News & Events" and under the title “Events and Presentations.” State Street intends to publish updates to its public disclosure regarding regulatory capital, as required by the Basel III final rule, and the liquidity coverage ratio, on a quarterly basis on its website at http://investors.statestreet.com/ , under "Filings & Reports." Those updates will be published each quarter, during the period beginning after State Street's public announcement of its quarterly results of operations and ending on or prior to the due date under applicable bank regulatory requirements (i.e., ordinarily, ending no later than 60 days following year-end or 45 days following each other quarter-end, as applicable). For 4Q17, State Street expects to publish its updates during the period beginning today and ending on or about February 16, 2018. State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $33.1 trillion in assets under custody and administration and $2.8 trillion* in assets under management as of December 31, 2017, State Street operates globally in more than 100 geographic markets and employs 36,643 worldwide. For more information, visit State Street's website at www.statestreet.com . * Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $35 billion as of December 31, 2017), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated. Additional Information In this News Release: All earnings per share amounts represent fully diluted earnings per common share. Return on average common shareholders' equity is determined by dividing annualized net income available to common equity by average common shareholders' equity for the period. Operating-basis return on average common equity utilizes annualized operating-basis net income available to common equity in the calculation. New asset servicing mandates and servicing assets remaining to be installed in future periods exclude new business which has been contracted, but for which the client has not yet provided permission to publicly disclose and is not yet installed. New business in assets to be serviced is reflected in our AUCA after we begin servicing the assets, and new business in assets to be managed is reflected in our AUM after we begin managing the assets. As such, only a portion of any new asset servicing and asset management mandate is reflected in our AUCA and AUM as of December 31, 2017. Distribution fees from the SPDR ® Gold ETF and the SPDR ® Long Dollar Gold Trust ETF are recorded in brokerage and other fee revenue and not in management fee revenue. State Street’s common stock and other stock dividends, including the declaration, timing and amount thereof, remain subject to consideration and approval by its Board of Directors at the relevant times. Stock purchases may be made using various types of mechanisms, including open market purchases under our announced common stock purchase program, accelerated share repurchases, or transactions off market, and may be made under Rule 10b5-1 trading programs. The timing, amount and continuation of stock purchases, types of transactions and number of shares purchased will depend on several factors, including market conditions and State Street’s capital position, its financial performance and acquisition and other investment opportunities. The common stock purchase programs do not have specific price targets and may be suspended at any time. Forward-Looking Statements This News Release (and the conference call referenced herein) contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our business, financial and capital condition, results of operations, strategies, the financial and market outlook, dividend and stock purchase programs, governmental and regulatory initiatives and developments, and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “expect,” "priority," “objective,” “intend,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or beliefs as of any date subsequent to January 23, 2018. Important factors that may affect future results and outcomes include, but are not limited to: the financial strength and continuing viability of the counterparties with which we or our clients do business and to which we have investment, credit or financial exposure, including, for example, the direct and indirect effects on counterparties of the sovereign-debt risks in the U.S., Europe and other regions; increases in the volatility of, or declines in the level of, our NII, changes in the composition or valuation of the assets recorded in our consolidated statement of condition (and our ability to measure the fair value of investment securities) and the possibility that we may change the manner in which we fund those assets; the liquidity of the U.S. and international securities markets, particularly the markets for fixed-income securities and inter-bank credits, and the liquidity requirements of our clients; the level and volatility of interest rates, the valuation of the U.S. dollar relative to other currencies in which we record revenue or accrue expenses and the performance and volatility of securities, credit, currency and other markets in the U.S. and internationally; and the impact of monetary and fiscal policy in the United States and internationally on prevailing rates of interest and currency exchange rates in the markets in which we provide services to our clients; the credit quality, credit-agency ratings and fair values of the securities in our investment securities portfolio, a deterioration or downgrade of which could lead to other-than-temporary impairment of the respective securities and the recognition of an impairment loss in our consolidated statement of income; our ability to attract deposits and other low-cost, short-term funding, our ability to manage levels of such deposits and the relative portion of our deposits that are determined to be operational under regulatory guidelines and our ability to deploy deposits in a profitable manner consistent with our liquidity needs, regulatory requirements and risk profile; the manner and timing with which the Federal Reserve and other U.S. and foreign regulators implement or reevaluate the regulatory framework applicable to our operations (as well as changes to that framework), including implementation or modification of the Dodd-Frank Act and related stress testing and resolution planning requirements, the Basel III final rule and European legislation (such as the AIFMD, UCITS, the Money Market Funds Regulation and MiFID II/MiFIR); among other consequences, these regulatory changes impact the levels of regulatory capital we must maintain, acceptable levels of credit exposure to third parties, margin requirements applicable to derivatives, restrictions on banking and financial activities and the manner in which we structure and implement our global operations and servicing relationships. In addition, our regulatory posture and related expenses have been and will continue to be affected by changes in regulatory expectations for global systemically important financial institutions applicable to, among other things, risk management, liquidity and capital planning, resolution planning, compliance programs, and changes in governmental enforcement approaches to perceived failures to comply with regulatory or legal obligations; adverse changes in the regulatory ratios that we are required or will be required to meet, whether arising under the Dodd-Frank Act or the Basel III final rule, or due to changes in regulatory positions, practices or regulations in jurisdictions in which we engage in banking activities, including changes in internal or external data, formulae, models, assumptions or other advanced systems used in the calculation of our capital ratios that cause changes in those ratios as they are measured from period to period; requirements to obtain the prior approval or non-objection of the Federal Reserve or other U.S. and non-U.S. regulators for the use, allocation or distribution of our capital or other specific capital actions or corporate activities, including, without limitation, acquisitions, investments in subsidiaries, dividends and stock purchases, without which our growth plans, distributions to shareholders, share repurchase programs or other capital or corporate initiatives may be restricted; changes in law or regulation, or the enforcement of law or regulation, that may adversely affect our business activities or those of our clients or our counterparties, and the products or services that we sell, including additional or increased taxes or assessments thereon, capital adequacy requirements, margin requirements and changes that expose us to risks related to the adequacy of our controls or compliance programs; economic or financial market disruptions in the U.S. or internationally, including those which may result from recessions or political instability; for example, the U.K.'s decision to exit from the European Union may continue to disrupt financial markets or economic growth in Europe or, similarly, financial markets may react sharply or abruptly to actions taken by the new administration in the United States; our ability to develop and execute State Street Beacon, our multi-year transformation program to create cost efficiencies through changes in our operational processes and to further digitize our processes and interfaces with our clients, any failure of which, in whole or in part, may among other things, reduce our competitive position, diminish the cost-effectiveness of our systems and processes or provide an insufficient return on our associated investment; our ability to promote a strong culture of risk management, operating controls, compliance oversight, ethical behavior and governance that meets our expectations and those of our clients and our regulators, and the financial, regulatory, reputation and other consequences of our failure to meet such expectations; the impact on our compliance and controls enhancement programs associated with the appointment of a monitor under the deferred prosecution agreement with the DOJ and compliance consultant appointed under a settlement with the SEC, including the potential for such monitor and compliance consultant to require changes to our programs or to identify other issues that require substantial expenditures, changes in our operations, or payments to clients or reporting to U.S. authorities; the results of our review of our billing practices, including additional findings or amounts we may be required to reimburse clients, as well as potential consequences of such review, including damage to our client relationships or our reputation and adverse actions by governmental authorities; the results of, and costs associated with, governmental or regulatory inquiries and investigations, litigation and similar claims, disputes; or civil or criminal proceedings; changes or potential changes in the amount of compensation we receive from clients for our services, and the mix of services provided by us that clients choose; the large institutional clients on which we focus are often able to exert considerable market influence and have diverse investment activities, and this, combined with strong competitive market forces, subjects us to significant pressure to reduce the fees we charge, to potentially significant changes in our assets under custody and administration or our assets under management in the event of the acquisition or loss of a client, in whole or in part, and to potentially significant changes in our fee revenue in the event a client re-balances or changes its investment approach or otherwise re-directs assets to lower- or higher-fee asset classes; the potential for losses arising from our investments in sponsored investment funds; the possibility that our clients will incur substantial losses in investment pools for which we act as agent, and the possibility of significant reductions in the liquidity or valuation of assets underlying those pools; our ability to anticipate and manage the level and timing of redemptions and withdrawals from our collateral pools and other collective investment products; the credit agency ratings of our debt and depositary obligations and investor and client perceptions of our financial strength; adverse publicity, whether specific to State Street or regarding other industry participants or industry-wide factors, or other reputational harm; our ability to control operational risks, data security breach risks and outsourcing risks, our ability to protect our intellectual property rights, the possibility of errors in the quantitative models we use to manage our business and the possibility that our controls will prove insufficient, fail or be circumvented; our ability to expand our use of technology to enhance the efficiency, accuracy and reliability of our operations and our dependencies on information technology and our ability to control related risks, including cyber-crime and other threats to our information technology infrastructure and systems (including those of our third-party service providers) and their effective operation both independently and with external systems, and complexities and costs of protecting the security of such systems and data; our ability to complete acquisitions, joint ventures and divestitures, including the ability to obtain regulatory approvals, the ability to arrange financing as required and the ability to satisfy closing conditions; the risks that our acquired businesses and joint ventures will not achieve their anticipated financial, operational and product innovation benefits or will not be integrated successfully, or that the integration will take longer than anticipated, that expected synergies will not be achieved or unexpected negative synergies or liabilities will be experienced, that client and deposit retention goals will not be met, that other regulatory or operational challenges will be experienced, and that disruptions from the transaction will harm our relationships with our clients, our employees or regulators; our ability to recognize evolving needs of our clients and to develop products that are responsive to such trends and profitable to us, the performance of and demand for the products and services we offer, and the potential for new products and services to impose additional costs on us and expose us to increased operational risk; our ability to grow revenue, manage expenses, attract and retain highly skilled people and raise the capital necessary to achieve our business goals and comply with regulatory requirements and expectations; changes or potential changes to the competitive environment, including changes due to regulatory and technological changes, the effects of industry consolidation and perceptions of State Street as a suitable service provider or counterparty; changes in accounting standards and practices; and changes in tax legislation and in the interpretation of existing tax laws by U.S. and non-U.S. tax authorities that affect the amount of taxes due. Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2016 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time. View source version on businesswire.com : http://www.businesswire.com/news/home/20180123005773/en/ State Street Corporation Investor Contact: Ilene Fiszel Bieler, +1 617-664-3477 or Media Contact: Julie Kane, +1 617-664-3001 Source: State Street Corporation

http://www.cnbc.com/2018/01/23/business-wire-state-street-reports-fourth-quarter-2017-gaap-basis-eps-of-0-point-89-roe-of-6-point-9-percent-and-revenue-of-2-point-8.html

PRESS DIGEST-Canada - Jan 9

January 9, 2018 / 10:36 AM / in 5 minutes PRESS DIGEST-Canada - Jan 9 Reuters Staff 2 Min Read Jan 9 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** The federal ethics commissioner has dismissed opposition accusations that Bill Morneau benefited from insider trading, but has yet to rule on whether the finance minister was in a conflict of interest when he introduced pension legislation. tgam.ca/2AHT3tV ** Ontario is investigating reports of businesses that have allegedly violated workplace rules after the hike to the minimum wage, and the province's Labour Minister says he's hiring up to 175 new inspectors to enforce the law. tgam.ca/2maiK0R ** Loblaw Companies Ltd offer of free $25 gift cards to make amends for fixing bread prices over 14 years is "a misleading and deceitful public relations" campaign designed to benefit the grocer, says a complainant seeking to launch a class-action lawsuit against the retailer. tgam.ca/2qKRgnV NATIONAL POST ** In an email, the Department of National Defence told Postmedia the decision to hold off on the $20 million military spending. Construction on the vessels, at Seaspan Shipyards in Vancouver, is supposed to start this year, but the project's timing now appears uncertain. bit.ly/2CWTxSU (Compiled by Bengaluru newsroom)

https://www.reuters.com/article/press-digest-canada/press-digest-canada-jan-9-idUSL4N1P43IM

Baltimore hospital probes release of thinly clad patient in cold

January 11, 2018 / 6:20 PM / Updated an hour ago Baltimore hospital probes release of thinly clad patient in cold Reuters Staff 2 Min Read (Reuters) - A Baltimore hospital has opened an investigation into why a patient was discharged on a freezing night this week and left outside wearing only a thin medical gown, after a video of the incident posted on Facebook attracted wide attention. The video taken by a bystander shows what appear to be security guards, one with a wheelchair, walking away from a woman at a bus stop outside the University of Maryland Medical Center midtown hospital on Tuesday. The woman is dressed in a gown and socks with a hospital mask around her neck, and her belongings are packed in bags placed at the bus stop. The woman appears disoriented and does not speak, waving her hands and screaming when asked if she needs help. The bystander called an ambulance, which picked up the woman. “We share the shock and disappointment of many who have viewed the video showing the discharge of a patient from the Emergency Department,” the hospital said in a statement on Wednesday. “We are taking this matter very seriously, conducting a thorough review, and are evaluating the appropriate response, including the possibility of personnel action.” The hospital did not identify the woman, give her condition or say why she had been released. The National Weather Service said the overnight temperature in Baltimore on Tuesday fell to the 20s Fahrenheit (minus 1 to minus 6 Celsius). Reporting by Ian Simpson; Editing by Alistair Bell

https://uk.reuters.com/article/us-maryland-hospital/baltimore-hospital-probes-release-of-thinly-clad-patient-in-cold-idUKKBN1F02IO

China may see first local government financing company default this year-S

BEIJING (Reuters) - China could see the first default on a bond issued by a local government financing vehicle (LGFV) this year, S&P Global Indices said in a report on Tuesday. China is in the second year of a campaign to reduce risks from a rapid-build up in debt and riskier types of financing. The clampdown has led to tighter credit conditions, slowly rising borrowing costs and greater scrutiny of local government spending, with weaker debt issuers finding it more difficult to access financing. S&P said it expects rising corporate earnings in 2018 to allow for more deleveraging, though weaker firms could struggle as regulators tighten restrictions on alternative financing channels, or shadow banking. As a result, defaults should also rise, albeit from a low base. “Regulators are taking advantage of continued economic reflation to shut down backdoor funding channels and hold Chinese companies to more disciplined financial standards,” S&P said. S&P said its overall outlook on Chinese issuers is more neutral this year after a strong negative bias last year, and even though it sees defaults rising this year, it would be up from only one default of a rated issuer in 2017. S&P expects moderate improvement in debt ratios at Chinese firms from 2018-2019 due to the impact of the deleveraging campaign, slower infrastructure investment and a property slowdown. Local government finances and burgeoning debt levels in China have been a source of concern for as the central government looks to remove expectations of implicit guarantees for government financing vehicles. An official at the People’s Bank of China in a December editorial wrote that China needs to let local governments take responsibility for their finances, including allowing bankruptcies, as part of an effort to defuse their debt risks. “(LGFVs’) implicit support by their respective governments will be tested, given the central government’s renewed efforts to reduce financial risks of runaway local government debt growth,” S&P said in its report. Reporting by Elias Glenn; Editing by Kim Coghill

https://www.reuters.com/article/us-china-economy-debt/china-may-see-first-local-government-financing-company-default-this-year-sp-idUSKBN1FJ0OE

Japan's Line Corp to offer cryptocurrency trading, loans and insurance

CNBC.com Tomohiro Ohsumi | Getty Images Characters from the Line messaging app are displayed inside Line Corp.'s LINE Friends Harajuku store on July 11, 2016 in Tokyo, Japan. Japanese messaging service Line Corp is expanding its reach into financial technology, or fintech, with a new company that offers a cryptocurrency exchange, loans and insurance. The Tokyo and U.S.-listed firm already offers a money transfer and payment service called Line Pay, but on Wednesday announced it would launch a new division called the Line Financial Corporation to let users exchange digital currencies and use other financial services within the app. It did not add specific details on what this would entail. Line added that it intends to "promote research and development of technologies such as blockchain" with the creation of its new financial offering. It claimed that its payments unit had scored "major growth" in 2017, with a global annual transaction volume of more than 450 billion yen ($4.1 billion) and 40 million registered users. The Japanese firm has 168 million monthly active users and is facing increased competition from the likes of Facebook -owned WhatsApp in its four key markets of Japan , Thailand , Indonesia and Taiwan . Everything you've always wanted to know about fintech Line's announcement follows a cryptocurrency heist that saw more than $500 million worth of alternative cryptocurrency NEM stolen from Japanese exchange Coincheck in a major hack last week. Japan's financial regulator then ordered the firm to improve its operations and said it would inspect all cryptocurrency exchanges following the cyberattack. Regulators have been unsettled by the virtual currency space due to severe swings in prices and reports of scams, money laundering and other dubious activities associated with it. The U.S. Securities and Exchange Commission on Tuesday moved to halt and freeze the assets of a huge initial coin offering (ICO) run by Dallas-based firm AriseBank. ICOs are a controversial means of crowdfunding for start-ups who sell new digital coins to raise capital. South Korea has introduced new rules to rein in speculative cryptocurrency investing, restricting trading to real-name bank accounts. The country's customs office has also claimed to have uncovered almost $600 million in cryptocurrency crimes including illegal foreign exchange trading. Meanwhile, Facebook said on Tuesday it is banning all cryptocurrency advertising to reduce the risk of users being misled or deceived.

https://www.cnbc.com/2018/01/31/japans-line-corp-to-offer-cryptocurrency-trading-loans-and-insurance.html

Australia to spend $3.1 billion to increase stake in global arms exports

January 29, 2018 / 3:33 AM / Updated 2 hours ago Australia to spend $3.1 billion to increase stake in global arms exports Colin Packham 3 Min Read SYDNEY (Reuters) - Prime Minister Malcolm Turnbull said on Monday Australian military equipment manufacturers will be offered government-backed loans as part of a A$3.8 billion ($3.1 billion) package to become one of the world’s top 10 defence exporters. Australia said in 2016 it would boost defence spending by A$30 billion by 2021, purchasing frigates, armoured personnel carriers, strike fighter jets, drones and a fleet of new submarines - many of which would be built at home. The defence industry has struggled to obtain finance from traditional lenders that have been unwilling to fund the arms industry, so Australia has created a A$3.8 billion loan scheme for companies seeking finance to export military equipment. “Australia is around the 20th largest exporter. Given the size of our defence budget we should be higher up the scale than that,” Turnbull told reporters in Sydney. “The goal is to get into the top 10,” he said. Christopher Pyne, the minister for the defence industry, said Australia would target sales to the United States, Canada, Britain and New Zealand. Australia’s annual defence budget was worth A$34.6 billion this year. EA-18G Growlers from Number 6 Squadron arrive at Nellis Air Force Base, Nevada, for Exercise Red Flag 18-1 at Nellis Air Force Base, Nevada, U.S., January 24, 2018. Picture taken January 24, 2018. Australian Defence Force/Handout via REUTERS The scheme is also meant to arrest a slide in Australia’s manufacturing sector and provide some support for its economy, which has been hampered by record-low wage growth. Australia saw a record number of jobs created in 2017 but its manufacturing sector has shrunk significantly following the end of domestic car manufacturing. Employment in manufacturing peaked in mid-1989 at roughly 1.17 million, or 15 percent of the entire workforce. That shrank to 877,000, or 7 percent, late last year. EA-18G Growlers from Number 6 Squadron arrive at Nellis Air Force Base, Nevada, for Exercise Red Flag 18-1 at Nellis Air Force Base, Nevada, U.S., January 24, 2018. Picture taken January 24, 2018. Australian Defence Force/Handout via REUTERS Australia has seen a wave of new jobs but companies are not keen on paying employees more, leaving wage growth near record lows in an unwelcome drag on consumer spending and inflation. Australia’s expansion plans come amid increased global demand for military hardware, led by China and Middle East nations, prompting criticism of Canberra from aid agencies who argue Australia could make human rights violations worse if weapons were sold to the wrong buyers. Analysts said Australia would need to significantly expand sales beyond its traditional partners to have any chance of fulfilling its ambition. “There are possibilities, but I doubt U.S. interest especially will go beyond niche capabilities,” said Euan Graham, director of the international security program at Australian think tank the Lowy Institute. ($1 = 1.2372 Australian dollars)

https://uk.reuters.com/article/uk-australia-defence/australia-to-spend-3-1-billion-to-increase-stake-in-global-arms-exports-idUKKBN1FI09U

PRECIOUS-Gold holds steady near 1-1/2-year highs on weaker dollar

Jan 25 (Reuters) - Gold prices on Thursday held firm near 1-1/2-year highs hit in the previous session, with the dollar near three-year lows in the wake of comments by U.S. Treasury secretary Steven Mnuchin that he welcomed a weaker currency. FUNDAMENTALS * Spot gold was nearly unchanged at $1,357.25 per ounce at 0109 GMT. It rose over 1 percent on Wednesday to hit its highest since Aug. 5, 2016 at $1,361.81. * U.S. gold futures were mostly unchanged at $1,356.50 per ounce. * The dollar slumped after Mnuchin told the World Economic Forum in Davos on Wednesday that "obviously a weaker dollar is good for us as it relates to trade and opportunities". His comments were seen by markets as a departure from traditional U.S. currency policy. * The dollar index , which measures the greenback against a basket of currencies, hit its weakest since Dec, 2014 at 89.158 on Thursday, matching a more than three-year-low touched on Wednesday. * The immediate focus was on the ECB's policy setting meeting later in the global day as markets look for any signs that the central bank is worried about the rapidly appreciating euro. * The euro zone economy may be roaring ahead but a rapidly strengthening euro may see European Central Bank President Mario Draghi pour cold water on the view the bank is speeding towards an interest rate hike. * Asian stocks held near a record-high on Thursday though concerns about the Trump administration's protectionist stance cast a shadow on financial markets. * Democratic Republic of Congo's new proposed mining code, which the industry has warned will stifle investment in the copper and cobalt-rich nation, sailed through the Senate without opposition late on Wednesday. * The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia , has narrowed to two, three banking and industry sources said on Wednesday. * Zimbabwe's full-year gold production rose to 24.8 tonnes in 2017 from 22.7 tonnes the previous year, the central bank's refining and printing subsidiary said on Wednesday. DATA AHEAD (GMT) 0700 Germany GfK consumer sentiment Feb 0900 Germany Ifo business climate Jan 1245 European Central Bank interest rate announcement followed by press conference by ECB President Mario Draghi 1330 U.S. Advance goods trade balance Dec 1330 U.S. Wholesale inventories Dec 1330 U.S. Retail inventories Dec 1330 U.S. Weekly jobless claims 1500 U.S. New home sales Dec 1500 U.S. Leading index Dec (Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph Radford)

https://www.reuters.com/article/global-precious/precious-gold-holds-steady-near-1-1-2-year-highs-on-weaker-dollar-idUSL4N1PK17X

Estate agents Foxtons foresees challenging 2018 after earnings drop

January 25, 2018 / 7:19 AM / Updated 14 minutes ago Estate agent Foxtons expects challenging 2018 after earnings drop Reuters Staff 2 Min Read LONDON (Reuters) - London-focused estate agent Foxtons ( FOXT.L ) expects a challenging 2018 after last year’s core earnings and revenue fell in line with market expectations, hit by a slump in sales. The compay’s 2017 revenue was down 12 percent at 117 million pounds ($167 million) with adjusted core earnings sliding 40 percent to about 15 million pounds, Foxtons said on Thursday, adding that it will also take a one-off 2 million pound charge as it manages its cost base. Foxtons, which had been a symbol of the British capital’s property boom, saw profits more than halve in 2016 and had said in as early as 2014 that the real estate market was cooling. Known for its fleet of Mini cars and coffee shop-style outlets, Foxtons suffered a particularly heavy fall in sales during the first quarter of last year ahead of a property tax increase. “We expect trading conditions to remain challenging throughout 2018,” Chief Executive Nic Budden said. “We are well placed to withstand these conditions due to our strong balance sheet, with no debt, and will provide an update on a number of strategic initiatives we have been working on.” The company said its lettings business, where revenue fell by 3 percent to about 66 million pounds, remained a “consistent and recurring revenue stream”. However, government plans to ban lettings fees are likely to to hit a key income stream for Foxtons and its rivals. The proposed ban follows criticism that such fees give an unfair boost to the price of renting property, particular in London. ($1 = 0.7008 pounds)

https://uk.reuters.com/article/uk-foxtons-outlook/estate-agents-foxtons-foresees-challenging-2018-after-earnings-drop-idUKKBN1FE0N8

Wilbur Ross, Trump Testimony, Nassar Sentence: CEO Daily for January 25, 2018 | Fortune

Top News Trump Talks Testimony President Donald Trump is “looking forward” to testifying under oath to special counsel Robert Mueller in the latter’s Russian collusion probe. Trump also said he didn’t remember asking the FBI’s deputy director, Andrew McCabe, for whom he voted in the 2016 election. Politico Nassar Sentenced Former U.S. gymnastics team doctor Lawrence Nassar has been sentenced to between 40 and 175 years in prison, after pleading guilty to seven counts of criminal sexual misconduct. Judge Rosemarie Aquilina told the 54-year-old: “I just signed your death warrant.” Meanwhile, Michigan State University head Lou Anna Simon stepped down after being accused of helping Nassar cover up his crimes. BBC ECB QE Quandary European Central Bank officials are arguing over their next moves in the context of a strong Eurozone economy. Some officials want to head towards a wind-down of quantitative easing soon, in order to avoid an abrupt end to the strategy if the economy overheats. Others are more cautious. A decision will be made today. Wall Street Journal Italian Train Crash At least three people died and scores were injured after a commuter train heading into Milan derailed this morning. The Trenord train was coming from Cremona, in eastern Lombardy. Bloomberg Around the Water Cooler No Class Actions for Europe Facebook arch-nemesis Max Schrems has won a case at the EU’s top court that will allow him to sue the company in his native Austria over privacy violations. However, he failed to win the right to sue on behalf of thousands of other people—effectively ending his hopes of introducing class-action suits to the European stage. Fortune German Facebook Case Meanwhile, the German antitrust agency is floating the idea that Facebook could be banned from collecting and processing personal data from third-party websites, as a possible outcome of its probe into the company. “We are blazing a trail in this case,” cartel office chief Andreas Mundt said. Financial Times White House Drug Liaison Exits Taylor Weyeneth is stepping down as White House liaison to the Office of National Drug Control Policy, due to outrage over his appointment. The 24-year-old only graduated from college in May 2016, and his sole professional experience was working for the Trump campaign. Washington Post Russian Solidarity The Russian government promotes strong antipathy to homosexuality and “gay propaganda,” and the Russian establishment has duly professed outrage over a homoerotic parody video made by air-transport cadets. However, citizens young and old have expressed solidarity with the young soldiers by making their own versions of the video. New Yorker SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/25/wilbur-ross-donald-trump-larry-nassar-ceo-daily-for-january-24-2018/

England in Australia 2017/18 Scoreboard

January 21, 2018 / 11:15 AM / Updated 19 minutes ago England in Australia 2017/18 Scoreboard Reuters Staff 3 Min Read Jan 21 (OPTA) - Scoreboard at close of play of 3rd odi between Australia and England on Sunday at Sydney, Australia England win by 16 runs England 1st innings Jason Roy c Aaron Finch b Pat Cummins 19 Jonny Bairstow b Adam Zampa 39 Alex Hales c Adam Zampa b Marcus Stoinis 1 Joe Root b Josh Hazlewood 27 Eoin Morgan c Tim Paine b Josh Hazlewood 41 Jos Buttler Not Out 100 Moeen Ali b Mitchell Marsh 6 Chris Woakes Not Out 53 Extras 0b 2lb 1nb 0pen 13w 16 Total (50.0 overs) 302-6 Fall of Wickets : 1-38 Roy, 2-45 Hales, 3-90 Bairstow, 4-107 Root, 5-172 Morgan, 6-189 Ali Did Not Bat : Rashid, Plunkett, Wood Bowling Ov Md Rn Wk Econ Ex Mitchell Starc 10 0 63 0 6.30 3w Josh Hazlewood 10 0 58 2 5.80 Pat Cummins 10 1 67 1 6.70 6w 1nb Marcus Stoinis 8 0 43 1 5.38 1w Adam Zampa 9 0 55 1 6.11 Mitchell Marsh 3 0 14 1 4.67 2w Australia 1st innings Aaron Finch lbw Adil Rashid 62 David Warner c Alex Hales b Chris Woakes 8 Cameron White c Jos Buttler b Mark Wood 17 Steven Smith c Jos Buttler b Mark Wood 45 Mitchell Marsh c Alex Hales b Adil Rashid 55 Marcus Stoinis c (Sub) b Chris Woakes 56 Tim Paine Not Out 31 Pat Cummins Not Out 1 Extras 4b 5lb 0nb 0pen 2w 11 Total (50.0 overs) 286-6 Fall of Wickets : 1-24 Warner, 2-44 White, 3-113 Finch, 4-181 Smith, 5-210 Marsh, 6-284 Stoinis Did Not Bat : Starc, Hazlewood, Zampa Bowling Ov Md Rn Wk Econ Ex Mark Wood 10 1 46 2 4.60 2w Chris Woakes 10 0 57 2 5.70 Liam Plunkett 1.2 0 6 0 4.50 Moeen Ali 10 0 57 0 5.70 Joe Root 8.4 0 60 0 6.92 Adil Rashid 10 0 51 2 5.10 Umpire Christopher Gaffaney Umpire Simon Fry Video Handunnettige Dharmasena Match Referee Ranjan Madugalle

https://uk.reuters.com/article/cricket-odi-scoreboard/england-in-australia-2017-18-scoreboard-idUKMTZXEE1LWKE3M7

BRIEF- Create Restaurants Holdings unit says change in share repurchase and retirement plan

Jan 19(Reuters) - Create Restaurants Holdings Inc * Says its unit SFP Holdings Co Ltd will repurchase up to 3.8 million shares (13.1 percent stake) for up to 7.68 billion yen in total, instead of up to 550,000 shares (1.9 percent stake) for up to 1.21 billion yen in total previously * Says SFP Holdings Co Ltd changes share repurchase period to a deadline of March 31, instead of Feb. 28 previously * Says SFP Holdings Co Ltd will repurchase 3.3 million shares through takeover bid, at the price of 2,030 yen per share, during period from Jan. 22 to Feb. 19, and settlement starts on March 13 * Says the company plans to sell 3.2 million shares (worth about 6.5 billion yen)of SFP Holdings Co Ltd through the takeover bid * Says SFP Holdings Co Ltd will retire treasury shares after March 13 Source text in Japanese: goo.gl/VbhcYb Further company coverage: (Beijing Headline News)

https://www.reuters.com/article/brief-create-restaurants-holdings-unit-s/brief-create-restaurants-holdings-unit-says-change-in-share-repurchase-and-retirement-plan-idUSL3N1PE1U0

Lottery fever: U.S. Powerball and Mega Millions jackpots top $1 bln

CHICAGO, Jan 5 (Reuters) - U.S. lottery players on Friday and Saturday night will get two shots at record Powerball and Mega Millions jackpots that together topped $1 billion after going months without a winner. At stake in Friday's 11 p.m. EST (0400 GMT Saturday) Mega Millions drawing is a $450 million prize, the fourth-largest in its history with a $281 million payout if the winner selects a lump-sum payment. Saturday's 10:59 p.m. EST Powerball drawing is worth $570 million, with a $358.5 million lump-sum payment that is the fifth-largest in its history, according to organizers. Together they constituted the third-largest combined total. Long odds have not stopped "lottery fever" from spreading, with people lining up at retailers to buy the $2 tickets, said Jeff Lenard, spokesman for the National Association of Convenience Stores, whose members sell about 60 percent of the nation's lottery tickets. "There's definitely more traffic," Lenard said. Americans spent $80.5 billion on lottery games last year, according to the North American Association of State and Provincial Lotteries. Powerball tickets are sold in 44 states, and Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Mega Millions tickets are offered in the same locations excluding Puerto Rico. The largest Powerball jackpot was a $1.6 billion payout split among winners in California, Florida and Tennessee in January 2016, the association said. The largest Mega Millions jackpot of $656 million was won in 2012. No one has hit either jackpot since October, allowing the totals to balloon. On Wednesday, no one won the Powerball jackpot worth an estimated $460 million. A day earlier, no one matched all six numbers in Mega Millions drawing, lottery officials said. The estimated totals are before taxes are assessed. The odds of a single ticket hitting all six numbers in the Powerball are 292 million to 1, according to the Multi-State Lottery Association. The odds of picking the right six numbers for the Mega Millions jackpot are 303 million to 1, the game said. "When the jackpots reach these levels, everyone starts to daydream about what they would do if they won," Gordon Medenica, Mega Millions lead director, said in a statement. (Reporting by Chris Kenning in Chicago; Editing by Lisa Shumaker)

https://www.cnbc.com/2018/01/05/reuters-america-lottery-fever-u-s-powerball-and-mega-millions-jackpots-top-1-bln.html

Renault-Nissan-Mitsubishi to Launch $1 Billion VC Fund | Fortune

By Bloomberg 7:07 AM EST The world’s largest automotive alliance will invest as much as $1 billion to fund mobility startups over the next five years as it looks to make inroads with new technology at a time of rapid upheaval for the transportation sector. Carmaking partners Renault (rnsdf) , Nissan Motor (nsany) and Mitsubishi Motors (mmtof) will invest as much as $200 million during the venture capital fund’s first year, the alliance said in a statement Tuesday. The fund, called Alliance Ventures, will finance new developments in electrification, autonomy, connectivity and artificial intelligence. “The way we’re organized now is not sufficient,” Carlos Ghosn, chairman of the alliance, said in a Bloomberg Television interview at CES in Las Vegas, citing a need for the creativity of startups and outside partners. “I don’t think we can do it alone.” Read: ‘These Computers Can’t Fail.’ Why Autonomous Cars Are So Challenging, According to Nvidia’s CEO Global automakers are seeking to marry their manufacturing prowess with the nimbleness of startups that are working on electrification, artificial intelligence and autonomous driving — technologies that are transforming the industry. The formation of the alliance fund follows similar moves by competitors including General Motors’s GM Ventures, BMW Group’s i Ventures and Toyota Motor’s Toyota AI Ventures. The fund’s first strategic investment is in Ionic Materials, a Woburn, Massachusetts-based company developing cobalt-free solid-state battery materials that can be used in electric vehicles. Read: How China is Handicapping Foreign Autonomous Car Companies In September, the Franco-Japanese alliance announced plans to introduce 12 new purely electric vehicles by 2022 while extending the models’ range and cutting battery costs. It also plans to bring to market 40 vehicles with autonomous-drive technology. “It is a classic approach but it should be put under the context that we are going to concentrate our efforts on electric cars, autonomous drive at different levels, ending with robotaxis,” Ghosn told reporters at a CES press conference in Las Vegas Tuesday. This fund “serves as an additional platform for what we want to do,” he said. Read: This Company Is Set to Become a Driving Force Behind Fully Autonomous Vehicles Renault and Nissan will each fund 40% of Alliance Ventures — which will be co-located in Silicon Valley, Paris, Beijing and Yokohama, Japan — while Mitsubishi will contribute the rest. The $200 million initial venture capital investment is in addition to the more than 8.5 billion euros ($10 billion) in total annual research and development spending by the alliance’s members, according to their statement. Major automobile makers have also been partnering with both small and established technology companies for robotaxis and self-driving cars. Volvo Car Group and Daimler AG have teamed up with Uber Technologies. Last week, Volkswagen (vlkpy) and Hyundai Motor (hymtf) paired up with Aurora, a startup formed by one-time executives from autonomous car projects at Google , Tesla, and Uber. SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/10/renault-nissan-mitsubishi-vc-fund-alliance-ventures-auto-tech-startups/

Bannon will not testify before U.S. House intel panel on Wednesday

January 30, 2018 / 11:10 PM / Updated 31 minutes ago Bannon will not testify before U.S. House intel panel on Wednesday Reuters Staff 3 Min Read WASHINGTON (Reuters) - Former White House strategist Steve Bannon’s return to the U.S. House Intelligence Committee will not take place on Wednesday as expected, Representative Adam Schiff, the panel’s top Democrat said on Tuesday. Bannon had been expected to speak to the House of Representatives committee again on Wednesday as part of investigation of allegations that Russia sought to influence the 2016 U.S. election, to follow up on his Jan. 16 appearance, which failed to satisfy some members of the panel. Moscow denies election meddling, and President Donald Trump has denied any collusion between his associates and Russia. A source familiar with the issue said Bannon’s appearance was cancelled because the White House and the committee had yet to agree on matters of executive privilege, by which the president can resist congressional requests for information if he deems it in the public interest. Asked for comment, Schiff told Reuters there could have been many reasons. A spokesman for the committee’s Republican chairman, Representative Devin Nunes, did not immediately respond to a request for comment. FILE PHOTO: White House Chief Strategist Stephen Bannon (L) attends a meeting between U.S. President Donald Trump and congressional leaders to discuss trade deals at the at the Roosevelt room of the White House in Washington U.S., February 2, 2017. REUTERS/Carlos Barria/File Photo Against the wishes of Democrats, the Republican majority on the intelligence committee has been pushing for the release of a classified memo commissioned by Nunes that alleged surveillance abuse by the Federal Bureau of Investigation and Department of Justice. The committee voted along party lines to release the memo on Monday, leaving it to Trump to decide. Democrats have criticized the memo as partisan talking points intended to cast doubt on the investigation. The House intelligence panel is one of three congressional committees, along with Department of Justice Special Counsel Robert Mueller, investigating the matter. During his Jan. 16 appearance, Bannon refused to answer questions about his time in Trump’s administration or the post-election presidential transition, committee members said. The White House and the House committee have so far not even begun to discuss the executive privilege issue, the source said. Bannon also has not received documents to review from the White House or Trump’s presidential transition office, the source said. White House communications director Hope Hicks, who also has been asked to appear before House Intelligence, is dealing with similar executive privilege issues, according to another person familiar with the matter. Reporting by Karen Freifeld, Mark Hosenball and Patricia Zengerle; Writing by David Alexander and Patricia Zengerle; Editing by James Dalgleish

https://uk.reuters.com/article/uk-usa-trump-russia-bannon/bannon-will-not-testify-before-u-s-house-intel-panel-on-wednesday-idUKKBN1FJ33K

Host Hotels & Resorts, Inc. Announces Fourth Quarter and Full Year 2017 Earnings Call to be Held on February 22, 2018

BETHESDA, Md., Host Hotels & Resorts, Inc. (NYSE:HST) (the “Company”) will report financial results for the fourth quarter and full year 2017 on Wednesday, February 21, 2018, after the market close. The Company will hold a conference call and discuss its fourth quarter and full year 2017 results and business outlook for 2018 on Thursday, February 22, 2018 at 10:00 a.m. ET. Interested individuals are invited to listen to the call via telephone at (323) 794-2093. It is recommended that participants call 10 minutes ahead of the scheduled start time to ensure proper connection. A simultaneous webcast of the call will be available on the Company’s website at www.hosthotels.com . A replay of the call will be available Thursday, February 22, 2018 at 1:00 p.m. ET until Thursday, March 1, 2018 at 1:00 p.m. ET via telephone at (888) 203-1112, passcode number 5106867, or via webcast on the Company’s website through March 22, 2018. About Host Hotels & Resorts Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 88 properties in the United States and 6 properties internationally totaling approximately 52,500 rooms. The Company also holds non-controlling interests in seven joint ventures, including one in Europe that owns 10 hotels with approximately 3,900 rooms. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis®, Pullman®, and Novotel® as well as independent brands in the operation of properties in over 50 major markets. For additional information, please visit the Company's website at www.hosthotels.com . *This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release. Bret D.S. McLeod Senior Vice President 240.744.5216 Gee Lingberg Vice President 240.744.5275 Source:Host Hotels & Resorts, Inc.

http://www.cnbc.com/2018/01/24/globe-newswire-host-hotels-resorts-inc-announces-fourth-quarter-and-full-year-2017-earnings-call-to-be-held-on-february-22-2018.html

Aetna is fined by New York for leaking members' HIV status

NEW YORK (Reuters) - Aetna Inc will pay a $1.15 million civil fine and improve its privacy practices to settle charges that it leaked the HIV-positive status of 2,460 New York members in a mailing where it used envelopes with large transparent windows. New York Attorney General Eric Schneiderman on Tuesday said names, addresses, claim numbers and HIV medication instructions in the July 28, 2017 mailing were “clearly visible” to outsiders because of how Aetna folded letters and inserted them into the envelopes. The mailing was intended to notify members of a class action settlement permitting them to buy HIV medication at brick-and-mortar pharmacies rather than by mail, where their privacy might be compromised if neighbors or family saw the drug packages. While about 1 million Americans live with HIV or AIDS, the associated stigma can lead to a denial of proper healthcare, discrimination and other negative consequences, according to settlement papers signed by Aetna and Schneiderman’s office. “Through its own carelessness, Aetna blatantly violated its promise to safeguard members’ private health information,” the attorney general said in a statement. Schneiderman said his office uncovered similar issues with a Sept. 25, 2017 mailing by Aetna to 163 New York members with atrial fibrillation, an irregular heartbeat condition. The Hartford, Connecticut-based company did not admit or deny wrongdoing, and agreed to retain an independent consultant for two years to monitor its efforts to improve member privacy. It agreed last week to a $17.2 million settlement in the federal court in Philadelphia of private litigation over similar claims by more than 11,000 members in New York and other states. “We have worked to address the potential impact to members following this unfortunate incident,” Aetna said in a statement. “We are implementing measures designed to ensure something like this does not happen again as part of our commitment to best practices in protecting sensitive health information.” Aetna agreed last month to be bought by CVS Health Corp in a $69 billion transaction. HIV is short for human immunodeficiency virus, and AIDS for Acquired Immunodeficiency Syndrome. Reporting by Jonathan Stempel in New York; Additional reporting by Nate Raymond in Boston; Editing by Tom Brown

https://www.reuters.com/article/us-aetna-new-york-settlement/aetna-is-fined-by-new-york-for-leaking-members-hiv-status-idUSKBN1FC2YT

BRIEF-Pure Industrial Real Estate To Be Acquired By Blackstone For $8.10 In Cash Per Unit In $3.8 Bln Transaction

#Funds News 12 PM / Updated 7 minutes ago BRIEF-Pure Industrial Real Estate To Be Acquired By Blackstone For $8.10 In Cash Per Unit In $3.8 Bln Transaction Reuters Staff 1 Min Read Jan 9 (Reuters) - Pure Industrial Real Estate Trust : * PURE INDUSTRIAL REAL ESTATE TRUST - TRANSACTION IS STRUCTURED AS A STATUTORY PLAN OF ARRANGEMENT UNDER BRITISH COLUMBIA BUSINESS CORPORATIONS ACT * PURE INDUSTRIAL REAL ESTATE TRUST - ‍TRANSACTION HAS UNANIMOUS SUPPORT OF SPECIAL COMMITTEE, AS WELL AS FULL BOARD OF TRUSTEES OF PIRET​ * PURE INDUSTRIAL REAL ESTATE TRUST - TRUST WILL CONTINUE TO PAY NORMAL MONTHLY DISTRIBUTIONS IN ORDINARY COURSE, THROUGH CLOSING OF TRANSACTION * PURE INDUSTRIAL REAL ESTATE TRUST - IN CERTAIN CIRCUMSTANCES, BLACKSTONE REQUIRED TO PAY $220 MILLION BREAK FEE TO PIRET UPON TERMINATION OF DEAL * PURE INDUSTRIAL REAL ESTATE TRUST ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY BLACKSTONE FOR $8.10 IN CASH PER UNIT IN A $3.8 BILLION TRANSACTION Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-pure-industrial-real-estate-to-be/brief-pure-industrial-real-estate-to-be-acquired-by-blackstone-for-8-10-in-cash-per-unit-in-3-8-bln-transaction-idUSASB0C0CG

New Zealand prime minister Jacinda Ardern announces she is pregnant with first child

WELLINGTON (Reuters) - New Zealand Prime Minister Jacinda Ardern said on Friday she was pregnant with her first child, and planned to take a short break after the birth in June. Ardern said in an emailed statement that she would resume all her duties following a six-week pause after she gave birth, with deputy prime minister Winston Peters taking over during that time. “From a personal perspective, I am so looking forward to my new role as a parent. But I am equally focused on my job and responsibilities as Prime Minister,” she said. The popular 37-year-old politician’s pregnancy is one of the very few examples of an elected leader holding office while pregnant and represents a milestone in New Zealand’s history. Pakistan’s Benazir Bhutto gave birth while in office in 1990. Ardern, who came to power through a coalition deal after a closely fought election last year, has experienced a meteoric rise to power as New Zealand’s youngest prime minister in more than a century, and its third female leader. Ardern said in Friday’s statement that her and her partner, television presenter Clarke Gayford, had found out they were expecting a child on Oct. 13, just six days before she secured power. Ardern’s rise to power has generated intense interest in her personal life and drew comparisons with other youthful leaders such as France’s Emmanuel Macron and Canada’s Justin Trudeau. But unlike her male counterparts, Ardern has attracted unwelcomed questions over how she planned to balance political and family life. After being asked by a television presenter whether she planned to have children just hours after being appointed Labour leader, Ardern said it was “totally unacceptable in 2017 to say that women should have to answer that question in the workplace”. Reporting by Charlotte Greenfield in WELLINGTON; editing by Clive McKeef

https://www.reuters.com/article/us-newzealand-politcs-ardern/new-zealand-prime-minister-jacinda-ardern-announces-she-is-pregnant-with-first-child-idUSKBN1F736H

Delta Air Lines Announces Webcast of December Quarter Full Year 2017 Financial Results

ATLANTA, Jan. 4, 2018 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) will hold a live conference call and webcast to discuss its December quarter and full year 2017 financial results at 10 a.m. ET Thursday, Jan. 11, 2018. A live webcast of this event will be available at http://ir.delta.com/news-and-events/calendar/ . An online replay will be available at the same site shortly after the webcast is complete. Delta Air Lines serves more than 180 million customers each year. In 2017, Delta was named to Fortune's top 50 Most Admired Companies in addition to being named the most admired airline for the sixth time in seven years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for an unprecedented seven consecutive years. With an industry-leading global network , Delta and the Delta Connection carriers offer service to 314 destinations in 54 countries on six continents. Headquartered in Atlanta, Delta employs more than 80,000 employees worldwide and operates a mainline fleet of more than 800 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry's leading transatlantic joint venture with Air France-KLM and Alitalia as well as a joint venture with Virgin Atlantic . Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including Amsterdam , Atlanta, Boston , Detroit , Los Angeles , Mexico City, Minneapolis/St. Paul , New York-JFK and LaGuardia , London-Heathrow , Paris-Charles de Gaulle , Salt Lake City , São Paulo, Seattle , Seoul, and Tokyo-Narita . Delta has invested billions of dollars in airport facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. Additional information is available on the Delta News Hub , as well as delta.com , Twitter @DeltaNewsHub , Google.com/+Delta , and Facebook.com/delta . View original content with multimedia: http://www.prnewswire.com/news-releases/delta-air-lines-announces-webcast-of-december-quarter-and-full-year-2017-financial-results-300577284.html SOURCE Delta Air Lines

http://www.cnbc.com/2018/01/04/pr-newswire-delta-air-lines-announces-webcast-of-december-quarter-and-full-year-2017-financial-results.html

Breakingviews TV: GM's stock drive

Breakingviews TV: GM's stock drive 6:20pm GMT - 04:30 CEO Mary Barra reckons the carmaker's new trucks and self-driving strategy deserve more investor love. Antony Currie and Reuters News' Joe White explain the rationale and look under the hood of GM, Ford and Fiat Chrysler's prognostications at the Detroit Auto Show. ▲ Hide Transcript ▶ View Transcript CEO Mary Barra reckons the carmaker's new trucks and self-driving strategy deserve more investor love. Antony Currie and Reuters News' Joe White explain the rationale and look under the hood of GM, Ford and Fiat Chrysler's prognostications at the Detroit Auto Show. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2DfNV6p

https://uk.reuters.com/video/2018/01/16/breakingviews-tv-gms-stock-drive?videoId=386518629

Swiss secrecy could slip further under plan to scrap anonymous shares

January 17, 2018 / 1:05 PM / Updated an hour ago Swiss secrecy could slip further under plan to scrap anonymous shares John Revill , John Miller 3 Min Read ZURICH (Reuters) - Swiss secrecy could be rolled back further under a plan to eliminate a class of company share that can be used to help owners dodge taxes by hiding their identities. The Swiss government, wary of being branded a tax avoidance pariah, said on Wednesday it was launching a public consultation on measures to convert anonymous bearer shares in private companies into registered shares which have owners’ names attached. Long seen as a haven for the wealthy to stash their money, Switzerland has already dismantled banking secrecy by agreeing to send information about customers’ accounts to foreign tax agencies. The new bearer share proposal, recommended by an OECD panel, aims to clamp down on tax avoidance by people using shell-companies to hold bearer shares. As those shares have no name attached, ownership can be concealed and even transferred with no documentation. There are no estimates for how much tax income is lost this way. A global crack down on illegal tax avoidance has allowed tax authorities around the world to recover more than $85 billion over the last eight years, the OECD estimates. The Swiss proposal would only apply to non publicly listed companies and not groups such as pharmaceutical company Roche or lift-maker Schindler that have historically used voting bearer shares to keep companies under the control of their founding families. The proposed rules would carry financial penalties for companies that do not comply. In 2015, Britain banned companies from issuing bearer shares and ordered companies that already had them to convert them into securities whose ownership can be documented. Singapore, Hong Kong, Belgium, Austria and the United States have also passed laws restricting bearer shares in recent years. An earlier Swiss attempt to tighten rules on bearer shares was judged inadequate by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes. “If Switzerland does not follow the recommendation, it can expect to be labelled ‘non-conforming’ in this area,” according to a government report issued on Wednesday. “That means Switzerland could achieve only a total rating of ‘partial compliance’ during the next review of whether it meets international standards of financial transparency.” In recent years, Switzerland says bearer shares have dwindled as companies voluntarily convert them into registered shares. Bearer shares now represent only 12 percent of the share capital of companies, down from 27 percent in 2014. Editing by Robin Pomeroy

https://in.reuters.com/article/swiss-tax-secrecy/swiss-secrecy-could-slip-further-under-plan-to-scrap-anonymous-shares-idINKBN1F61KA

Romania's president nominates defence minister Fifor as interim PM

January 16, 2018 / 10:51 AM / Updated 21 minutes ago Romania's ruling Social Democrats propose MEP Dancila as new premier Radu-Sorin Marinas 3 Min Read BUCHAREST (Reuters) - Romania’s ruling Social Democrat party (PSD) chose to nominate European MP Viorica Dancila as the new prime minister in a unanimous vote on Tuesday after Mihai Tudose stepped down following a row with the party leadership. Dancila, 54, is a close ally of the powerful PSD leader Liviu Dragnea. Tudose resigned on Monday after the PSD withdrew its backing for him, making him the second premier to be ousted in seven months as Romanian politics are dogged by infighting and corruption scandals. “We voted unanimously for her. This candidacy we propose cannot be refused by the president, we wanted a person with European exposure,” a PSD leader told Reuters by telephone on condition of anonymity. Earlier on Tuesday, Romanian President Klaus Iohannis appointed PSD member Defence Minister Mihai Fifor as interim prime minister, prompting speculation from analysts that Fifor would likely be Iohannis’ preferred replacement for Tudose. The PSD leadership will now formally propose their nomination of Dancila to Iohannis tomorrow. If Iohannis approves, she will have to undergo a vote of confidence in parliament. Only if that is successful will she be appointed prime minister. “There is now obviously a need for a government to shorten this period of uncertainty,” Iohannis said. “I want us to have a swift procedure that will lead to a new government because ... I want to avoid as much as possible potential negative economic consequences.” Dancila is a vice-chair of the European parliament’s Committee on Agriculture and Rural Development. Defence Minister Fifor, 47, has contributed to the acquisition of multi-billion military equipment and hardware to modernise Romania’s army, including Patriot missiles from the United States. “Given the president’s statements ... he may accept this nomination. But he may want to push further for Fifor case in which I gave her a 50-50 chance to be appointed,” said independent political analyst Cristian Patrasconiu. An oil and gas drilling engineer, Dancila was born in the same county as Dragnea and served on the Teleorman County Council when Dragnea chaired that body. Romania posted the European Union’s highest economic growth rate in the third quarter at 8.8 percent year-on-year, but it also had the largest rate of household deprivation, Eurostat data showed, with one in two Romanians struggling to keep their home warm or pay their bills on time. Addisional reporting by Luiza Ilie; Editing by Raissa Kasolowsky

https://uk.reuters.com/article/uk-romania-government/romanias-president-nominates-defence-minister-fifor-as-interim-pm-idUKKBN1F514Y

North Korea sends rare announcement to all Koreans and calls for unification

SEOUL (Reuters) - North Korea sent a rare announcement addressed to “all Koreans at home and abroad” on Thursday, saying they should make a “breakthrough” for unification without the help of other countries, its state media said. It said all Koreans should “promote contact, travel, cooperation between North and South Korea” while adding Pyongyang will “smash” all challenges against reunification of the Korean peninsula. The announcement, issued after a joint meeting of government and political parties, added Koreans should wage an energetic drive to defuse the acute military tension and create a peaceful climate on the Korean peninsula. Military tension on the Korean peninsula was a “fundamental obstacle” for the improvement of inter-Korean relations and unification, the North’s official news agency said. It added joint military drills with “outside forces” has shown to be unhelpful for the development of relations between North and South Korea. North Korea did not provide details why the meeting had been held but the statement said it was aimed to support leader Kim Jong Un’s remarks regarding unification from his New Year’s address. It said this year is meaningful for both North and South Korea as it is the 70th anniversary of the founding of North Korea while South Korea will be hosting the Winter Olympics next month. Reporting by Christine Kim; Editing by Matthew Mpoke Bigg and Susan Thomas Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/us-northkorea-southkorea-kcna/north-korea-sends-rare-announcement-to-all-koreans-and-calls-for-unification-idUSKBN1FD33I

Iran's Revolutionary Guard says unrest fomented by foreign enemies defeated

January 7, 2018 / 8:37 AM / Updated 2 hours ago Iran Guards say quell unrest fomented by foreign enemies Michael Georgy 5 Min Read DUBAI (Reuters) - Iran’s Revolutionary Guards said on Sunday the country’s people and security forces had put an end to unrest fomented by foreign enemies, as parliament and security officials met to discuss the boldest challenge to the clerical establishment since 2009. There has been more than a week of unrest in Iran in which 22 people have died and more than 1,000 arrested, according to Iranian officials. The protests spread to more than 80 cities and rural towns as thousands of young and working-class Iranians expressed their anger at graft, unemployment and a deepening gap between rich and poor. (For a graphic on Iranian protests click tmsnrt.rs/2CXDYXZ ) Residents contacted by Reuters in various cities have said the protests had subsided after the government intensified a crackdown by dispatching Revolutionary Guards forces to several provinces. “Iran’s revolutionary people along with tens of thousands of Basij forces, police and the Intelligence Ministry have broken down the chain (of unrest),” the Guards said in a statement on their Sepahnews website. The Guards said the unrest had been “created ... by the United States, Britain, the Zionist regime (Israel), Saudi Arabia, the hypocrites (Mujahideen) and monarchists.” Parliament met on Sunday to discuss the week of unrest with the ministers of interior and intelligence, Iran’s police chief and the deputy commander of the elite Revolutionary Guards, state television said. Late on Saturday, videos on social media showed a heavy police presence in cities, including Khorramabad in southwestern Iran where on Wednesday evening social media posts showed protesters throwing stones at riot police. As protests have ebbed, the government has lifted restrictions it imposed on Instagram, one of the social media tools used to mobilise protesters. But access to a more widely used messaging app, Telegram, was still blocked, suggesting authorities remained uneasy about the possibility of further protests. Parliament spokesman Behrouz Nemati said MPs and security officials had decided that Telegram restrictions should be lifted only after the app committed to ban “hostile, anti-Iranian channels that promote unrest”, state television reported. Telegram, with 40 million users in Iran, in late December shut down a channel that Iran had accused of encouraging violence, but declined to block other channels and this prompted Tehran to block access to the app. Many Iranians access Telegram by using virtual private networks (VPNs) and other tools to bypass government filtering of the Internet, residents say. Thousands of government supporters have staged rallies in a backlash against the anti-government protests which are the biggest since widespread unrest in 2009 over alleged election fraud. People take part in pro-government rallies, Iran, January 3, 2018. Tasnim News Agency/Handout via REUTERS State television showed live pictures of rallies in several cities, including central Shahr-e Kord where hundreds, many clutching umbrellas, had gathered despite heavy snowfall. “Death to America”, “Death to Israel”, “Death to Britain”“Death to seditionists”, the demonstrators chanted. The anti-government protests have attracted largely young people and workers as well as members of the educated middle-class that formed the backbone of a pro-reform revolt almost a decade ago. A police spokesman said most of those arrested were “duped” into joining the unrest and had been freed on bail, the state news agency IRNA reported. “But, the leaders of the unrest are held by the judiciary in prison.” CONCERNS ABOUT STUDENT ARRESTS Several parliament members and university officials have expressed concern over the fate of students arrested during the protests. Tehran University Vice-President Majid Sarsangi has said the university had set up a committee to track them. Parliament spokesman Nemati said MPs had asked security officials for a report about the detained students during Sunday’s closed session. “One of the issues addressed by deputies and the parliament speaker was that of detained students, and it was decided that the Intelligence Ministry would vigorously pursue this and submit a report by next week,” said Nemati, quoted by IRNA. A member of parliament said earlier about 90 students were detained, 10 of whom were still not accounted for. Iran has several parallel security bodies and residents say arrests are often not immediately announced. Videos on social media in the past few days showed relatives of detainees gathering outside prisons seeking information about the fate of their loved ones. The Revolutionary Guards and their affiliated Basij militia suppressed unrest in 2009, in which dozens of pro-reform Iranians were killed. Reporting by Dubai newsroom. Editing by Jane Merriman

https://uk.reuters.com/article/uk-iran-rallies-guards/irans-revolutionary-guard-says-unrest-fomented-by-foreign-enemies-defeated-idUKKBN1EW087

Hang Seng's 7-day win streak snapped as Hong Kong market takes a breather

* Hang Seng index ends down 0.6 pct * China Enterprises index HSCE falls 0.5 percent * HSI financial sector sub-index is 0.7 percent lower; property sector down 0.9 percent Jan 29 (Reuters) - Hong Kong’s Hang Seng Index fell on Monday, ending a seven-day winning streak, as the market took a breather after repeatedly hitting record highs. ** At close of trade, the Hang Seng index was down 187.23 points or 0.56 percent at 32,966.89. The Hang Seng China Enterprises index fell 0.47 percent to 13,659.59. **The sub-index of the Hang Seng tracking energy shares rose 1.3 percent while the IT sector dipped 0.47 percent, the financial sector was 0.67 percent lower and property sector dipped 0.9 percent. ** The top gainer on Hang Seng was China Shenhua Energy Co Ltd up 3.99 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd, which was down 4.80 percent. ** China’s main Shanghai Composite index closed down 0.97 percent at 3,523.5009 points while its blue-chip CSI300 index ended down 1.81 0.04 percent while Japan’s Nikkei index closed down 0.01 percent. ** The yuan was Quote: d at 6.3272 per U.S. dollar at 08:25 GMT, 0.04 6.3295. ** As of the previous trading session, the Hang Seng index was up 10.81 percent this year, while China’s H-share index was up 17.2 percent. ** The top gainers among H-shares were Postal Savings Bank of China Co Ltd up 5.03 percent, followed by China Shenhua Energy Co Ltd gaining 3.99 percent and Guangzhou Automobile Group Co Ltd up by 3.43 percent. ** The three biggest H-shares percentage decliners were CITIC Securities Co Ltd which was down 5.00 percent, China Vanke Co Ltd which fell 4.3 percent and Huatai Securities Co Ltd down by 3.5 percent. ** About 3.72 billion Hang Seng index shares were traded, roughly 161.7 2.30 billion shares a day. The volume traded in the previous trading session was 4.01 billion. ** At close, China’s 27.64 (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

https://www.reuters.com/article/china-stocks-hongkong-close/hang-sengs-7-day-win-streak-snapped-as-hong-kong-market-takes-a-breather-idUSZZN2N7U00

UPDATE 2-WTA International, Hobart Results

January 9, 2018 / 9:01 AM / Updated 8 hours ago UPDATE 2-WTA International, Hobart Results Reuters Staff 1 Min Read Jan 10 (OPTA) - Results from the WTA International, Hobart Women's Singles matches on Tuesday .. 1st Round .. Alison Riske (USA) beat 8-Katerina Siniakova (CZE) 2-6 6-3 7-5 Monica Niculescu (ROU) beat 6-Irina-Camelia Begu (ROU) 6-3 6-2 .. 2nd Round .. 5-Lesia Tsurenko (UKR) beat Yulia Putintseva (KAZ) 6-3 6-2 Mihaela Buzarnescu (ROU) beat Anna-Lena Friedsam (GER) 7-5 6-4 Donna Vekic (CRO) beat Marketa Vondrousova (CZE) 6-4 6-4 2-Elise Mertens (BEL) beat Beatriz Haddad Maia (BRA) 6-4 6-4

https://uk.reuters.com/article/tennis-wta-results-women/wta-international-hobart-results-idUKMTZXEE19A6CAGL

U.S. signals open-ended presence in Syria, seeks patience on Assad's removal

January 17, 2018 / 8:13 PM / in 16 minutes U.S. signals open-ended presence in Syria, seeks patience on Assad's removal David Brunnstrom 4 Min Read PALO ALTO, Calif. (Reuters) - The United States on Wednesday signaled an open-ended military presence in Syria as part of a broader U.S. strategy to prevent Islamic State’s resurgence, pave the way diplomatically for the eventual departure of Syrian President Bashar al-Assad and curtail Iran’s influence. Secretary of State Rex Tillerson, in a speech at Stanford University, made clear the United States would work diplomatically toward Assad’s exit from power, but called for “patience” - an acknowledgment that Assad has been bolstered by Russia and Iran and is unlikely to leave power immediately. Tillerson’s urging of patience was the clearest indication yet of Washington’s acknowledgment that Assad’s stronger position in Syria, bolstered by Russia and Iran, meant he would not leave power immediately. Billed as the Trump administration’s new strategy on Syria, the announcement will prolong the risks and redefine the mission for the U.S. military, which has for years sought to define its operations in Syria along more narrow lines of battling Islamic State and has about 2,000 U.S. ground forces in the country. While much of the U.S. strategy would focus on diplomatic efforts, Tillerson said: “But let us be clear: the United States will maintain a military presence in Syria, focused on ensuring ISIS cannot re-emerge,” while acknowledging many Americans’ skepticism of military involvement in conflicts abroad, Tillerson said. U.S. forces in Syria have already faced direct threats from Syrian and Iranian-backed forces in the country, leading to the shoot-down of Iranian drones and a Syrian jet last year, as well as to tensions with Russia. Trump administration officials, including Defense Secretary Jim Mattis, had previously disclosed elements of the policy but Tillerson’s speech was meant to formalize and clearly define it. A U.S. disengagement from Syria would provide Iran with an opportunity to reinforce its position in Syria, Tillerson said. As candidate, U.S. President Donald Trump was critical of his predecessors’ military interventions in the Middle East and Afghanistan. As president, Trump had to commit to an open-ended presence in Afghanistan and, now, Syria. The transition to what appears to be open-ended stability operations in Syria could leave those U.S.-backed forces vulnerable to shifting alliances, power struggles and miscommunications as Assad’s allies and enemies vie for greater control of post-war Syria. After nearly seven years of war, hundreds of thousands Syrians killed and a humanitarian disaster, Tillerson asked nations to keep up economic pressure on Assad but provide aid to areas no longer under Islamic State’s control. “Our expectation is that the desire for a return to normal life and these tools of pressure will help rally the Syrian people and individuals within the regime to compel Assad to step aside,” Tillerson said. The top U.S. diplomat said Washington would carry out “stabilization initiatives” such as clearing landmines and restoring basic utilities in areas no longer under Islamic State control, while making clear that “‘stabilization’ is not a synonym for open-ended nation-building or a synonym for reconstruction.But it is essential.” Tillerson said the United States would “vigorously support” a United Nations process to end the conflict, a so-far stalled process. He called on Russia, a main supporter of Assad, to “put new levels of pressure” on the Syrian government to “credibly engage” with U.N. peace efforts. The United Nations Special Envoy for Syria said on Wednesday he had invited the Syrian government and opposition to a special meeting to be held next week in Vienna. But it was not immediately clear how or why Moscow would heed Washington’s oft-repeated demands. Reporting by David Brunnstrom; Additional reporting by David Alexander; Writing by Yara Bayoumy and Phil Stewart; Editing by James Dalgleish

https://www.reuters.com/article/us-mideast-crisis-syria-tillerson/u-s-signals-open-ended-presence-in-syria-seeks-patience-on-assads-removal-idUSKBN1F62R8

Apple generated a record $300 mln in App Store sales on New Year's Day

8 Hours Ago | 00:48 Apple set a new record for App Store sales on New Year's Day, thanks to a 25 percent increase from the same day a year earlier. Consumers spent $300 million on apps on Jan. 1, the most for a single day since the App Store launched in 2008. It marked the end to a booming gift-giving season, with $890 million spent on apps between Christmas and New Year's Day, Apple said on Thursday. Those numbers are sure to excite investors who are betting that Apple will expand its software business as it becomes harder to squeeze growth out of a saturated smartphone market. Apple redesigned the App Store over the past year and has made other changes, including adding search advertising, improving developer tools and introducing new ways for third-party apps to make money. It appears to be working. In 2017, iOS developers earned $26.5 billion, a 30 percent increase over the prior year, Apple said. For smaller developers, these efforts could provide more incentives to build products, especially on emerging platforms like ARKit and the Apple Watch.

https://www.cnbc.com/2018/01/04/apple-generated-a-record-300-mln-in-app-store-sales-on-new-years-day.html

Sri Lanka rupee slips on importer dollar demand

January 22, 2018 / 11:30 AM / in 24 minutes Sri Lanka rupee slips on importer dollar demand Reuters Staff 2 Min Read COLOMBO, Jan 22 (Reuters) - The Sri Lankan rupee closed slightly weaker on Monday as dollar demand from importers and banks surpassed mild selling of the U.S. currency by exporters, dealers said. The spot rupee ended at 154.00/10 per dollar, compared with Friday’s close of 153.90/154.00. “The demand (for dollars) from smaller banks was there today. The sellers were not willing to come down and sell,” said a currency dealer. The rupee might witness volatility with the government’s heavy debt repayment this year, said dealers. Sri Lanka raised $470.6 million on Thursday via development bonds, the central bank said, as the government faces unprecedented debt repayment this year. President Maithripala Sirisena’s administration must repay an estimated 1.97 trillion rupees ($12.85 billion) in 2018 - a record high - including $2.9 billion of foreign loans, and a total of $5.36 billion of interest. Foreign investors had sold 3.2 billion rupees worth of government securities this year up to Jan. 10, central bank data showed. The currency fell 2.5 percent last year and 3.9 percent in 2016. The central bank, while announcing its key economic policies for the year on Jan. 3, said it has allowed more flexibility in determining the exchange rate based on the present market conditions. It added intervention policies will be adopted consistent with a flexible exchange rate regime and supportive of improving foreign exchange market functionality, and maintaining a competitive exchange rate will be an important objective. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

https://www.reuters.com/article/sri-lanka-forex/sri-lanka-rupee-slips-on-importer-dollar-demand-idUSL4N1PH3U5

UPDATE 2-Nigerian stocks record biggest daily rise in seven months

January 10, 2018 / 2:36 PM / Updated 42 minutes ago UPDATE 2-Nigerian stocks record biggest daily rise in seven months Reuters Staff 2 Min Read (Releads with closing index move, traders comment) LAGOS, Jan 10 (Reuters) - Nigerian stocks posted their biggest daily gain in seven months on Wednesday, extending the 2017 rally into the new year with the main share index rising 3.6 percent in late trades. Stocks extended gains for a fifth session to a new three-year high. The index which has gained 5.5 percent after seven trading days this year, closed at 41,816 points, a level last seen in August 2014. Last year it jumped 42 percent, its biggest gain since 2013, and traders had said they expected further advances fuelled by hopes of lower interest rates and a more stable currency. Investors have been snapping up consumer goods and banking shares this year with year-end results due in March, especially after data showed that Nigeria’s forex reserve had started to increase after a currency crisis, a sign of support for the naira, traders said. The central bank on Monday said Nigeria’s dollar reserves rose by nearly $1 billion from December to $40.4 billion as of Jan. 5. Though they remain shy of $64 billion peak reached in August 2008. The index of Nigeria’s top 10 lenders led the charge, rallying 5.3 percent. Diamond Bank, Wema Bank and Sterling Bank each rose more than 9 percent. Fuel retailer Conoil, Eterna Oil and Champion Brewery gained the maximum 10 percent allowed. (Reporting by Chijioke Ohuocha; Editing by Jeremy Gaunt)

https://www.reuters.com/article/nigeria-stocks/update-2-nigerian-stocks-record-biggest-daily-rise-in-seven-months-idUSL8N1P528R

Financial planning is not a quick fix

You've probably clicked on a headline like this — The Amazing Story of How One Millennial Paid Off $200K in Student Loan Debt in 18 Months — in the last few months. THANANIT | Getty Images No matter how captivating financial "clickbait" may be, don't mistake it for professional advice. It tells the inspiring tale of how one millennial went to extremes to pay down an Everest-size mountain of student loan debt. You know, the guy who ate ramen noodles every night and lived with four roommates, or the girl who lived in a camper van and got paid to tour the country while writing about her adventures on her blog, or the couple who "side hustled" 10 different jobs for more than 18 hours a day. My personal favorite is the internet marketing "genius" who was paid tens of thousands of dollars each month through affiliate marketing because — after all — you, too, can create a killer internet marketing funnel! Sure. As a member of the millennial generation, I ate lots of ramen noodles, but never connected it with paying down a huge loan. More from Investor Toolkit: Why some fear is good for investors Advisors turn to life coaches and counselors Retirees leave $100B in Social Security benefits on table Stories like these do create conversation and debate, of course. They highlight just how emotional financial topics such as student-loan debt, for example, can be. However, they also make paying off debt appear as if it's simply a quick fix, a matter of sheer determination to make it all go away. I call these people "eagles." Eagles are those too proud to bear the burden of their debt. They are willing to throw every available dollar at their liability, even if it means extreme sacrifice. In many ways, their dedication is to be commended. But there's a big problem with being an eagle. It's not practical. And for most us, being impractical is not realistic. Going to extremes by its very definition doesn't fit comfortably in one's life. That makes things especially dangerous when these suggestions are passed off as tried-and-true financial advice. "Can you imagine taking legal advice from someone who blogs about the law? What about medical advice? I hope for the sake of your legal future and health, you wouldn't. So why is an exception made for personal finance?" How and — more importantly — why is this happening? Well, we now live in a world where, thanks to social media and the internet, financial information, as well as our personal relationships with money, have become so democratized and destigmatized that anyone can write about an individual success and pass themselves off as a financial expert. This is especially true for millennials. Our generation is most comfortable using today's technology and sharing things that were once considered taboo by older generations. This means that instead of looking at objective criteria, such as one's experience, education, licenses and credentials, we now view the "financial expert" as someone who is defined by subjective elements, such as the number of likes, followers and affiliate marking opportunities and book deals received. It's quite astonishing how this shift has emerged in the field of personal finance, a critically important area of our everyday lives. Can you imagine taking legal advice from someone who blogs about the law? What about medical advice? I hope for the sake of your legal future and health, you wouldn't. So why is an exception made for personal finance? One answer could stem from those inherently emotional components surrounding the subject. I find this ironic, because financial professionals are trained to remove emotions from a client's decision-making processes. Yet, as we learned through the actions of these eagles, it's all about emotions for them, and to be honest, I can't blame them for feeling the way they do. Your Wealth: Weekly advice on managing your money Sign up to get Your Wealth Job Industry Advertising/Marketing Automotive Communications/PR Construction/Manufacturing Education Finance/Banking/Insurance Legal Media/Entertainment Medical/Health Care Mining/Oil/Gas/Utilities Gov't/Non-Profit Real Estate Retail Technology/IT Transportation/Shipping Travel/Hospitality Other Submit Please enter a valid email address Get this delivered to your inbox, and more info about about our products and service. Privacy Policy . I hear it from my friends, family and clients all the time. For many of us, our financial worlds came crashing down at the very start of our adult lives. My generation was faced with the brutal realization that our expensive educations wouldn't be the financial cure-all we were believed they would be. In reality, we found ourselves holding the proverbial bag, standing financially naked in a labor environment we weren't prepared for. However, through times of adversity, great stories are made. And if there's anything I know about my generation, it's how creative (and resilient) we are. I did not write this column to be an all-out assault on personal finance bloggers, content creators and self-described financial experts. I do appreciate and respect how helpful their efforts can be when applied correctly and comprehensively. In a society that's devoid of financial education, it's promising to see both professionals and non-professionals contribute to the growing trend of financial literacy. Without a doubt, we need financial education more than ever. However, I can't help but urge caution with how financial content is being created and consumed. There's always a danger that comes from painting complicated financial solutions with too broad of a brush, especially when dealing with the more complex areas of personal finance, such as investments, taxes and estate planning. In fact, regulators, such as the Financial Industry Regulatory Authority and the Securities and Exchange Commission, exist to protect the public by ensuring that the content professionals create follow the "rules." Therefore, no matter how captivating the financial content may be, I ask that you not to mistake it with the advice of a qualified financial professional. — By Douglas A. Boneparth, president of Bone Fide Wealth and co-author of The Millennial Money Fix

https://www.cnbc.com/2018/01/22/financial-planning-is-not-a-quick-fix.html

Ancient finding in Peru sheds light on desert society - archaeologist

26 AM / Updated 7 hours ago Ancient finding in Peru sheds light on desert society - archaeologist Marion Giraldo 3 Min Read LIMA (Reuters) - Archaeologists have discovered two chambers used for political ceremonies on Peru’s desert coast more than 1,500 years ago that had previously only been glimpsed in the illustrations of the ancient Moche people, an archaeologist said on Monday. The finding, at the ruins of the Limon archaeological complex in the region of Lambayeque, will provide key clues to understanding the Moche’s political life before the desert society’s sudden decline, said lead archaeologist Walter Alva. One room features two thrones where a powerful leader and guest likely enjoyed elaborate feasts, said Alva. The other has a circular podium, possibly for making announcements. The events that took place in the chambers were so important they had been featured repeatedly on Moche ceramics, Alva said. “These scenes had been depicted in the iconography of the Moche world but we had never been lucky enough to physically find where they took place,” he said. “It’s a very important finding.” The Moche, one of several complex societies that thrived in Peru long before the rise of the Incan empire, ruled over a vast swath of coastal desert from 100 to 700 AD, thanks to irrigation canals they built to grow crops in desert valleys. The Moche are known for their elaborate gold work and sculptures featuring a wide variety of sexual acts. Many researchers believe a disastrous climate event, such as the El Nino phenomena that still triggers severe flooding in northern Peru, probably led to the collapse of Moche society. Alva said construction on part of the recently unearthed chambers appears to have halted abruptly in the 5th century. The rooms were believed to have been used only by the elite, and paintings of fish and sea lions can be seen on the walls. Women are believed to have held political and religious positions in Moche society. Last year, Peruvian officials and archaeologists unveiled a replica of the face of an ancient female Moche ruler, the Lady of Cao, whose elaborately tattooed body had been buried with weapons and gold objects. Reporting By Marion Giraldo; Writing By Mitra Taj; Editing by Paul Tait

https://in.reuters.com/article/us-peru-archaeology/ancient-finding-in-peru-sheds-light-on-desert-society-archaeologist-idINKBN1EY0BZ

Britain, France to sign new immigration treaty during Macron visit

January 17, 2018 / 9:43 AM / Updated 7 hours ago Britain, France to sign new immigration treaty during Macron visit Reuters Staff 2 Min Read PARIS (Reuters) - France and Britain will sign a new immigration treaty at a summit between President Emmanuel Macron and Prime Minister Theresa May in Britain on Thursday, French officials said. The treaty will “complement” but not replace the 2003 Le Touquet border agreement, which has drawn criticism in France after the town of Calais became a hub for migrants and refugees on their way to Britain, just 33 km (20 miles) across the English Channel. France wants Britain to provide more money and resources to tackle the migrant flows and has suggested that the Le Touquet accord may have to be ended if a compromise or a new set of arrangements can’t be reached. Under Le Touquet, Britain has its border in France and France runs border checks in Britain, a deal that French officials say favours the United Kingdom. Both parties can withdraw from the treaty, which would mean a return to hard national borders. That move that would symbolically cut Britain off from the continent just as it is implementing Brexit. A French official said issues of unaccompanied children, asylum requests, border police cooperation and possible British support to the economic development of the Calais region will be part of the new agreement, which is still being discussed. “We’ll boost British financial support to the securisation of transport infrastructure, border police and security and we’ll raise this question of economic development,” the presidential adviser said. Pro-Brexit lawmakers from Britain’s governing Conservative Party have dismissed as “absurd” suggestions that London should pay more, saying Britain already provides extra security to France, including border infrastructure. Reporting by Michel Rose and Jean-Baptiste Vey; editing by Luke Baker and Matthew Mpoke Bigg

https://uk.reuters.com/article/uk-britain-eu-france/france-would-look-with-kindess-on-uk-brexit-change-of-mind-macron-adviser-idUKKBN1F611S

FCC Chairman Ajit Pai canceled his appearance at CES because of death threats

Federal Communications Commission Chairman Ajit Pai canceled his scheduled appearance at a major upcoming tech industry trade show after receiving death threats, two agency sources told Recode on Thursday. It's the second known incident in which Pai's safety may have been at risk, after a bomb threat abruptly forced the chairman to halt his controversial vote to scrap the U.S. government's net neutrality rules in December 2017. For both Pai and the whole of the FCC, the uptick in security concerns also presents a serious challenge to their ability to discuss critical tech policy issues in public view — without jeopardizing their safety or the safety of others in attendance. More from Recode: Another big Amazon acquisition, a Peloton IPO — and other commerce predictions for 2018 It ain't over: Net neutrality advocates are preparing a massive new war against Trump's FCC Mark Zuckerberg's personal challenge this year is to fix Facebook In this case, the exact nature of the threat, made in advance of Pai's fireside chat at the 2018 International CES, isn't clear. A spokesman for Pai at the FCC, for its part, only said Thursday: "We do not comment on security measures or concerns." But sources at the agency said that federal law enforcement had intervened in the matter, and other FCC offices are expected to be briefed on the matter. The FBI did not immediately respond to emails seeking comment. A spokeswoman for the Consumer Technology Association, which puts on the annual Las Vegas-based trade show, also declined to comment. Earlier, though, CTA's leader, Gary Shapiro, told the publication Digital Trends that he did not know why Pai had canceled — but raised the fact that he had recently been "subject to vicious and direct attacks and threats." For months, Pai has been hounded by his critics, particularly online, who view his vote to repeal net neutrality rules as tantamount to destroying the internet. Pai has lamented in speeches and tweets that he and his family have been mocked, attacked and threatened, in public as well as on Twitter, where Pai himself is active. By the nature of the job, the chairmanship of the FCC is an especially public role, and threats to its leaders and commissioners aren't exactly new. In 2014, for example, protesters descended on the home of then-Chairman Tom Wheeler, a Democrat, and prevented him from leaving his driveway. Then, too, net neutrality had been the issue at hand. In the most recent debate, though, tensions have been especially high, driven in no small part by broader frustrations among the public with the Trump administration writ large. If the death threats continue, it is unclear how Pai and his fellow commissioners will proceed. For now, Democratic Commissioner Mignon Clyburn and Republican Commissioners Michael O'Rielly and Brendan Carr each plan to attend CES. So will Maureen Ohlhausen, the acting leader of their sister agency, the Federal Trade Commission. Ohlhausen had been slated to appear alongside Pai at the annual Vegas event. — By Tony Romm , Re/code . CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement. WATCH: Pai says Twitter part of problem with net neutrality show chapters FCC head Ajit Pai says with net neutrality, 'Twitter is a part of the problem' 12:56 PM ET Wed, 29 Nov 2017 | 01:11

https://www.cnbc.com/2018/01/04/fcc-chairman-ajit-pai-canceled-his-appearance-at-ces-because-of-death-threats.html

Commentary: Hedge funds start 2018 with record $19 billion bet on the euro

January 8, 2018 / 11:50 AM / in 19 minutes Commentary: Hedge funds start 2018 with record $19 billion bet on the euro Jamie McGeever 4 Min Read LONDON (Reuters) - Hedge funds have kicked off 2018 with their biggest bet ever on the euro rising, a clear vote of confidence in the single currency but, with positioning so stretched, one which could backfire in the near term. Data from the Chicago Futures Trading Commission show that hedge funds and speculative accounts ramped up their net long euro positions by more than 35,000 contracts to 127,868 in the week to Jan. 2, a bet worth $19.3 billion. That’s the largest net long euro position since the single currency’s inception 19 years ago, overtaking the previous high of 119,538 contracts registered in mid-May 2007. The ‘fast money’ community’s bet on the euro has been a major driver of the currency’s rise. It gained 14 percent against the dollar last year, its best year since 2003 and third best ever. It’s easy to see why. Positive surprises from the euro zone economy beat positive U.S. economic surprises for much of 2017 (although that trend reversed late last year) and the euro zone economy grew at 2.6 percent in the third quarter, its fastest since 2011. According to the European Commission, the European economy, the bulk of which comprises the 19 nations that use the euro, grew 2.3 percent last year compared to the United States’ 2.2 percent. The “euroboom”, as it has come to be known, is one of the most important components of a wider economic upswing that now has world growth closing in on 4 percent. The euro climbed to a four-month high last week of $1.2089, within a whisker of breaking above September’s peak of $1.2092 which would have heralded a fresh three-year peak. Analysts at Deutsche Bank, among others, have raised their forecasts for the euro. They see it reaching $1.30 by the end of the year on the back of strong capital flows into the region. ECB DILEMMA But with positioning so stretched, the question is whether the euro’s upward momentum can be sustained. The euro on Monday was down for the second day in a row, something not seen for a month. It was back below $1.20, albeit it only just, and recent history suggests it will be difficult to stay above that level for any length of time without fresh tailwinds. Much depends on the relative paths of U.S. Fed and European Central Bank monetary policy. Traders are betting that the Fed won’t tighten too aggressively, while doubts are growing on how long the European Central Bank can stick with negative interest rates with growth so strong and oil prices at their highest in three years. Yet a strong euro will surely make ECB policymakers think twice about how quickly and aggressively they tighten. A general rule of thumb states that a 10 percent rise in the euro corresponds with a fall of nearly 0.5 percentage points in inflation over the next 12 months. Annual euro zone inflation fell to 1.4 percent in December, moving away from the ECB’s target of “below, but close to, 2 percent over the medium term.” The euro’s 14 percent rise against the dollar last year (admittedly only 5 percent on a trade-weighted basis) will help keep a lid on the inflationary pressures being stoked by strong growth and high oil prices. When positioning was almost as stretched back in May 2007, hedge funds and speculators began scaling back their long positions. So much so that almost a year later they were net short of euros. But the euro/dollar exchange rate didn’t reverse. It went from around $1.35 at the CFTC peak net long all the way through $1.60 by April 2008, just as global markets were about to come crashing down later that year. Will a similar pattern be repeated this time around? Reporting by Jamie McGeever; Editing by Robin Pomeroy

https://www.reuters.com/article/uk-global-euro-hedgefunds/commentary-hedge-funds-start-2018-with-record-19-bln-bet-on-the-euro-idUSKBN1EX10K

Apple to pay $38 billion in U.S. taxes, open a new campus

Apple to pay $38 billion in U.S. taxes, open a new campus 6:08am EST - 01:24 Thanks to the GOP tax bill, Apple will be able to bring back its treasure trove of cash parked overseas. That means a $38 billion check for uncle Sam, but also a new campus for Apple in the U.S. Thanks to the GOP tax bill, Apple will be able to bring back its treasure trove of cash parked overseas. That means a $38 billion check for uncle Sam, but also a new campus for Apple in the U.S. //reut.rs/2Dq5ikM

https://www.reuters.com/video/2018/01/18/apple-to-pay-38-billion-in-us-taxes-open?videoId=386763861

EU keen to avoid a fight with Warsaw but will want real concessions

January 18, 2018 / 6:03 PM / in 39 minutes EU keen to avoid a fight with Warsaw but will want real concessions Gabriela Baczynska 5 Min Read BRUSSELS (Reuters) - A new charm offensive should buy Poland time in its confrontation with the EU over backsliding on democracy, but Warsaw will have to make some real policy changes to match the warmer words or risk losing some funds from the bloc. Poland, under the Catholic, nationalist Law and Justice Party (PiS) in power since 2015, has become one of the main headaches for the EU, worried that some ex-communist states in eastern Europe are becoming more authoritarian. The EU complains about Warsaw’s steps to impose more direct government control of the courts, and has threatened to take action to defend the bloc’s liberal values. The EU also wants Poland to drop its refusal to accept refugees to share the burden of a migration surge. Last month, Beata Szydlo stepped down as prime minister after two years of unrelenting confrontation with Brussels. Her successor, former banker Mateusz Morawiecki, has taken a less strident tone toward both the EU and domestic political foes, suggesting a PiS effort to ease tensions with Brussels and reach out to more moderate voters at home. Morawiecki’s milder words are a relief in Brussels and capitals of EU member states, anxious to avoid being pushed to go ahead with the so-called “nuclear option”: an unprecedented Article 7 procedure to punish Poland. Such a move would deepen divisions and consume the energy of a bloc already coping with Britain’s departure. It would also almost certainly fail in the end anyway, subject to a veto by the chief PiS ally, Hungarian Prime Minister Viktor Orban. Still, officials and diplomats in Brussels say they are not prepared to settle for mere words. They have other tools they can use to apply pressure, notably a coming round of funding decisions for EU spending in 2021-2027. The bloc is considering attaching conditions that could limit some funds to states that fail to meet rule-of-law standards. “Whether the rule of law, or migration, it will all come to its head in the budget talks. There will be some real deals to make or break,” said an EU diplomat. Some speak of even tougher measures. Two diplomats said that EU states could threaten to reintroduce temporary border controls with Poland, a step that was made easier for security reasons since the bloc’s migration crisis. “The joint budget is a lot of money - but only that much. The other fish to fry is being able to travel and trade with no border checks that hurt business,” said one of the diplomats. FUNDAMENTAL ISSUE Morawiecki’s opening visit in Brussels will be followed with talks between his Foreign Minister Jacek Czaputowicz and the executive European Commission’s deputy head, Frans Timmermans, on Sunday. “We need full respect for the rule of law in all our member states,” Timmermans told the European Parliament this week. “It is a fundamental issue for the functioning of the EU.” Few in Brussels expect Morawiecki to sharply change the PiS line. He has said he is fully behind the PiS overhaul of the judiciary, which he says is needed to rid Poland of post-communist relics. While Morawiecki is unlikely to backtrack soon on the major points of conflict with Brussels, he could offer some concessions in other areas, such as the environment, including disputes over forest logging and tightening of rules for greenhouse gas emissions. Progress on the logging dispute could even be portrayed in Brussels as a step forward on the rule of law, since Brussels accuses Warsaw of violating European court rulings by felling too many trees despite being told by a tribunal to stop. Brussels diplomats point to Hungary’s Orban as an example of someone who has avoided any major retribution from the bloc despite antagonizing Brussels for years. Rights groups say his steps to tighten the screws on critics, media, judges, academics and non-governmental organizations are weakening democracy. They are also similar to those pursued by Poland’s PiS. But unlike the PiS so far, Orban, in power since 2010, has not shied away from debating his policies with Brussels, keeping dialogue open and offering occasional concessions. “Poland has to start a real dialogue and then we’ll see. Article 7 can be pursued with more or less energy, it can still be on the agenda but not decided for now,” another senior diplomat said. “Eventually, a nicer face won’t be enough.” Editing by Peter Graff

https://www.reuters.com/article/us-eu-poland/eu-keen-to-avoid-a-fight-with-warsaw-but-will-want-real-concessions-idUSKBN1F72LN

FOREX-Euro dips from 3-year peak on policymakers' comments, bitcoin sinks

* ECB officials raise concerns about surging common currency * Dollar finds respite but outlook remains grim * Cryptocurrency rout accelerates on clampdown worries * Canadian dollar weakens as BOC rings cautious tone (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, Jan 17 (Reuters) - The euro slipped on Wednesday, pulling back from a three-year high above $1.23 as some European Central Bank officials voiced worries about the currency's strength. The euro's decline helped stabilize the greenback, which was also supported by a weaker Canadian dollar after the Bank of Canada struck a cautious tone on an expected rate hike on Wednesday. The outlook for the dollar, however, remains dour on the view that other central banks besides the Federal Reserve are moving away from the ultra low-rate stance and unconventional tools they adopted after the 2008 global credit crisis. "There's still a lot of bearish sentiment on the dollar," said Minh Trang, senior foreign currency trader at Silicon Valley Bank in Santa Clara, California. Still, the greenback snapped a four-session losing streak. At 11:22AM/16:22 GMT, the index that tracks the dollar against a basket of currencies was up 0.20 percent at 90.574. It hit a three-year low of 90.341 earlier. The Canadian dollar fell 0.38 percent to C$1.2477. The euro was down 0.16 percent at $1.2239 after hitting a three-year peak versus the greenback at $1.2322, Reuters data showed. Digital currencies suffered another day of heavy losses on worries about a widening regulatory crackdown. Bitcoin fell more than 10 percent to below $10,000 for the first time since Dec. 1 on the Luxembourg-based Bitstamp exchange. The biggest digital currency has lost half its value since it peaked near $20,000 about a month ago. ECB WEIGHS IN ON RISING EURO The speed of the euro's rise in early 2018 - up more than 3 percent in the last two weeks - has prompted comments from ECB officials, highlighting growing concerns, according to analysts. ECB policymaker Ewald Nowotny told reporters on Wednesday the euro's recent strength against the dollar is "not helpful," which encouraged a bout of profit-taking before a policy meeting next week. In an interview with Italian newspaper la Repubblica Vitor Constancio, the ECB vice president, said he did not rule out that monetary policy would still continue to be "very accommodating for a long time". "The euro's strength will cause some concerns to the ECB and it will definitely complicate their policymaking thinking, and some investors are taking profits after the recent rally," said Adam Cole, chief FX strategist at RBC Capital Markets in London.

https://www.reuters.com/article/global-forex/forex-euro-dips-from-3-year-peak-on-policymakers-comments-bitcoin-sinks-idUSL8N1PC51R

Djokovic back with a bang at Kooyong

MELBOURNE (Reuters) - Novak Djokovic returned to competitive tennis with a bang on Wednesday, bringing a six-month spell on the sidelines to an end with a thumping 6-1 6-4 win over world number five Dominic Thiem at the Kooyong Classic exhibition tournament. Six-times Australian Open champion Djokovic pulled out of a tournament in Abu Dhabi last week because of continuing problems with his right elbow and wore a sleeve over the joint during his round robin match against the Austrian. In a huge boost for Melbourne Park organizers, who have already lost Andy Murray and Kei Nishikori to injury, Djokovic showed no obvious discomfort as he broke Thiem three times to win the first set in just 21 minutes. “It was a great start, it feels really good to be back on the court,” a beaming Djokovic said in an on-court interview after his first competitive set since Wimbledon last year. ”I can’t stop laughing outside and inside. It’s a great joy, I love this sport, it’s a great passion of mine so I missed it. “I wasn’t that nervous, although I had that matchplay attitude ... I wanted to be back on court, unfortunately the elbow wouldn’t let me last week.” Tennis - Kooyong Classic - Kooyong Lawn Tennis Club, Melbourne, Australia, January 10, 2018. Serbia's Novak Djokovic stretches for a shot during his match against Austria's Dominic Thiem. REUTERS/David Gray The 30-year-old, who won the year’s first grand slam five times in six years until 2016, did not have it all his own way in a tighter second set and it went with serve to 5-4 when Djokovic broke again to wrap up the victory in 42 minutes. Now ranked 14th in the world after his long absence, the 12-times grand slam singles champion will be one to avoid in Thursday’s draw for the Australian Open. Tennis - Kooyong Classic - Kooyong Lawn Tennis Club, Melbourne, Australia, January 10, 2018. Serbia's Novak Djokovic stretches for a shot during his match against Austria's Dominic Thiem. REUTERS/David Gray “This has been a tough period for me, obviously injury is the greatest enemy a professional athlete can have,” the Serbian added. ”You can’t do anything about it except try to recover as quickly as you can. “The Australian Open is the big one, it’s the one I wanted to be ready for. It’s a great start.” Another former grand slam champion, Marin Cilic, did not have such a good day at the former venue of the Australian Open with the Croatian world number six losing 6-7(3) 6-4 7-5 to Australian Matthew Ebden. Reporting by Nick Mulvenney in Sydney, editing by Peter Rutherford

https://www.reuters.com/article/us-tennis-kooyong/djokovic-back-with-a-bang-at-kooyong-idUSKBN1EZ0BH

Lowry scores 40, but Raptors fall to Timberwolves

Andrew Wiggins and Karl Anthony-Towns hit clutch 3-pointers down the stretch as the Minnesota Timberwolves withstood a 40-point night by Toronto point guard Kyle Lowry and recorded a 115-109 victory over the Raptors Saturday night at the Target Center in Minneapolis. Wiggins, who scored a season-high 29 points, gave Minnesota the lead at 107-106 by knocking down a 3-pointer from the left wing with 2:05 remaining. Towns, who scored all of his 22 points after halftime, added a top of the key 3-pointer with 1:43 left for a 110-106 edge. Lowry recorded his most productive night of the season and posted his fourth career game with 40 points. He made 14 of 25 shots and hit six 3-pointers. Wiggins and Towns helped Minnesota extend its home winning streak to nine games on a night when Jimmy Butler (sore right knee) and Jamal Crawford (sprained left big toe) did not play. The duo combined to make 17 of 28 from the field as Minnesota shot 46.9 percent. DeMar DeRozan added 20 for Toronto, which shot 47 percent. Taj Gibson added 14 points, eight rebounds and a key block of Jonas Valanciunas that preceded Towns’ 3-pointer. Marcus Georges-Hunt contributed 12 and also drew a charge on DeRozan with 22 seconds left. Minnesota led 113-108 when Georges-Hunt drew the offensive foul and the guard split a pair with 15.3 seconds left. After Serge Ibaka missed a long 3-pointer and Lowry split a pair at the line with 8.4 seconds left, Jeff Teague provided the final margin. Before getting the late 3-pointers, Minnesota took an 87-83 lead into the fourth when Gorgui Dieng’s 3-pointer banked off the glass to cap a 12-3 run. Toronto was within 92-90 on a 19-footer by DeRozan with 9:06 left in the fourth but Minnesota responded again with a 10-2 run to get a 102-92 lead on two free throws by Wiggins with 7:10 left. Lowry and DeRozan then combined on seven points as Toronto scored the next 11 points shortly before the late 3-pointers. --Field Level Media

https://www.reuters.com/article/basketball-nba-min-tor-recap/lowry-scores-40-but-raptors-fall-to-timberwolves-idUSMTZEE1LW38IZ4

In Waymo trial, what fired Uber exec may not say could be key

January 31, 2018 / 12:28 PM / a few seconds ago In Waymo trial, what fired Uber executive may not say could be key Dan Levine , Alexandria Sage 5 Min Read SAN FRANCISCO (Reuters) - One of the most dramatic moments in an upcoming trade secrets trial between Alphabet Inc’s ( GOOGL.O ) Waymo and Uber will likely come when the former chief of Uber’s self-driving car unit takes the witness stand, as he is expected to repeatedly refuse to answer questions. Waymo sued Uber Technologies Inc last year, claiming that former Waymo engineer Anthony Levandowski downloaded more than 14,000 confidential files before leaving to set up a self-driving truck company, called Otto, which Uber acquired soon after. Levandowski, regarded as a visionary in autonomous technology, is not a defendant in the case but is on Waymo’s witness list. Waymo has accused Uber of benefiting from Waymo technology that it says Uber acquired through Levandowski. Uber has denied Waymo’s allegations and has argued that the data in the files were not trade secrets. The case hinges on whether Uber used the alleged trade secrets to further its autonomous vehicle program. It may help determine who emerges in the forefront of the fast-growing field of self-driving cars. It is the highest-stakes legal challenge on a list of litigation that Uber’s chief executive, Dara Khosrowshahi, inherited when he joined the company in August. “This is a case that is the biggest in the history of Uber,” Uber attorney Bill Carmody told the court during a pretrial hearing on Tuesday. Jury selection in the civil case is set for Wednesday in San Francisco federal court, with testimony expected to begin next week. During a pretrial deposition in April, Waymo lawyers questioned Levandowski for hours about allegations that he took Waymo’s trade secrets. He declined to answer any questions about his time at both companies, citing constitutional protections against self-incrimination over 300 times, according to a deposition transcript. Levandowski has never publicly addressed the allegations of taking the documents and law enforcement has not charged anyone with their theft. The U.S. Department of Justice is conducting a criminal investigation into what transpired, according to court filings. Given the ongoing probe, lawyers for both companies said at a hearing in September that they do not expect Levandowski to answer questions if called to the witness stand at trial. Uber, Waymo and Miles Ehrlich, an attorney for Levandowski, declined to comment. U.S. District Judge William Alsup issued a ruling this month saying he would likely instruct jurors that they are allowed to draw negative conclusions against Uber should Levandowski take the stand and refuse to answer questions. Elizabeth Rowe, a trade secret expert at the University of Florida Levin College of Law, said Levandowski refusing to answer questions on the stand, and the judge’s instructions around it, would hurt Uber’s case because it would reinforce Waymo’s arguments that he was deceptive and took their information. To counter Levandowski’s expected refusal to answer questions, Rowe said Uber should tell jurors in opening statements that the company’s actions and those of Levandowski are separate, stressing that Uber fired the engineer last May. “They definitely might want to say, ‘Whatever he did, it was for himself, by himself, on his own, and we didn’t benefit from it,” Rowe said. Alsup granted Waymo’s request for a pretrial injunction in May, prohibiting Levandowski from working on Lidar, a sensor technology for self-driving cars that is the crux of the current litigation. If Waymo persuades a jury that Uber stole its trade secrets, it said it would seek a permanent injunction to prohibit Uber from using them in the future. Other tech executives who could testify at trial include former Uber CEO Travis Kalanick, Benchmark venture capitalist Bill Gurley, and Waymo CEO John Krafcik, court documents showed. For Uber, Rowe said the perfect juror would be someone who is willing to have the patience to delve into the minutiae of what exactly constitutes a trade secret, as opposed to focusing on Levandowski’s expected refusal to answer questions on the stand. Reporting by Dan Levine and Alexandria Sage; Editing by Lisa Shumaker

https://in.reuters.com/article/us-alphabet-uber-trial/in-waymo-trial-what-fired-uber-executive-may-not-say-could-be-key-idINKBN1FK1O6

Trump administration bars Haitians from US visas for low-skilled work

Haitians will no longer be eligible for U.S. visas given to low-skilled workers, the Trump administration said on Wednesday, bringing an end to a small-scale effort to employ Haitians in the United States after a catastrophic 2010 earthquake. The Department of Homeland Security (DHS) announced the change less than a week after President Donald Trump reportedly questioned in an Oval Office meeting why the United States would want to take in immigrants from Haiti and African nations, referring to them as "s___hole" countries. Trump has denied using that word. DHS said in a regulatory filing that it was removing Haiti from lists of more than 80 countries whose citizens can be granted H-2A and H-2B visas, given to seasonal workers in agriculture and other industries. It cited what it said were "high levels of fraud and abuse" by Haitians with the visas, and a "high rate of overstaying the terms" of their visas. A DHS report published last year stated that Haitians on a variety of non-immigrant visas, including H-2As and H-2Bs, had a roughly 40 percent visa overstay rate in the 2016 fiscal year. Belize and Samoa were also removed from the lists, for risks stemming from human trafficking and not taking back nationals ordered removed from the United States, respectively. Just a few dozen Haitians entered the United States on the visas each year since they were given permission to do so in 2012 by the Obama administration, according to DHS data. Sixty-five Haitians entered the United States on H-2A visas, given for agricultural work, in the 2016 fiscal year, according to DHS data, and 54 Haitians were granted H-2A visas by the State Department between March and November 2017. The number of Haitians entering in 2016 on H-2B visas, which are for non-agricultural seasonal work, was more than zero but too low to report, according to DHS. Supporters of the visas say they gave Haitians a rare opportunity to work legally in the United States, contribute to the U.S. economy, and help fund the recovery of Haiti after the earthquake, which killed more than 200,000 people. "They're just cutting off the most economically beneficial visa for the Haitian people," said Sarah Williamson, founder of PTP Consulting, a Virginia-based consultancy that ran a pilot program to bring Haitians to the United States on the visas. "Even though not many people have been able to avail themselves of it, it's been hugely transformational for those who have participated." The Haitian embassy in the United States did not immediately respond to a request for comment. Officials in Haiti were not immediately available for comment. In an interview with Reuters on Wednesday, Trump praised Haitians. "I love the people. There's a tremendous warmth," he said. "And they're very hard-working people." Humanitarian groups and Republican and Democratic members of Congress lobbied the Obama administration to make Haiti eligible for the short-term worker visas, arguing that remittances to family in Haiti would help the country recover from the earthquake. Without H-2A and H-2B visas, there are few legal avenues for most Haitians to go to the United States. Nicolas Garcia | AFP | Getty Images The full scale of the devastation in hurricane-hit rural Haiti became clear as the death toll surged over 400, three days after Hurricane Matthew leveled huge swaths of the country's south. "The post-earthquake reconstruction efforts ignored migration and remittances entirely," said Michael Clemens, a senior fellow at the Center for Global Development who was heavily involved in the efforts to allow Haitian workers to come to the United States. "We saw it as an opportunity to help Haiti rebuild after the earthquake." The Obama administration added Haiti to the list of approved countries in 2012, and PTP Consulting stepped in to screen and match Haitian workers with farmers in the United States. In countries with more experience sending workers to the United States, such as Jamaica, the home-country government typically does much of that work and regulates the H-2A process heavily, Williamson said. Jon Hegeman, who operates a commercial greenhouse in Alabama, brought in eight Haitian H-2A workers in 2015 through the consultancy, and nine workers in 2016. Before Hegeman hired Haitians, his business had trouble finding local workers. Within a three-month period, they went through 300 people for eight positions, he said. When he was approached by PTP to participate in the program, he agreed. "These guys were awesome. They worked hard, you see a smile on their face every day," said Hegeman, who as the child of a missionary was born and largely raised in the Dominican Republic , which neighbors Haiti. "We've changed or impacted communities in Haiti." He said he would escort his workers to the airport in order to make sure they left the United States when their visas ran out. "That was one of my biggest concerns," he said. "We had zero visa overstays." Williamson said PTP was able to ensure the return to Haiti of every worker that came through its program, but said other companies applying for H-2A visas for Haitians may not have been as scrupulous.

https://www.cnbc.com/2018/01/18/trump-administration-bars-haitians-from-us-visas-for-low-skilled-work.html

TDBBS, LLC Announces Appointment of Tim Hassett as CEO

Leadership Change Follows Growth Investment in TDBBS by Bregal Partners RICHMOND, Va.--(BUSINESS WIRE)-- TDBBS, LLC (“TDBBS” or the “Company”), a rapidly-growing natural dog treats and chews business, is pleased to announce the appointment of Tim Hassett as Chief Executive Officer. The hiring of Mr. Hassett follows a growth investment in the Company by leading middle market private equity firm Bregal Partners. The investment was made in partnership with the Company’s founder and management team, who remain significant shareholders in the business. Mr. Hassett joins the Company from Beam Suntory, where he was President – Americas. He previously spent 10 years at Campbell Soup as Chief Customer Officer for the North America business, and also served at Kellogg’s and Procter & Gamble. He joins TDBBS with an exceptional track record of successfully growing global, consumer-focused businesses. “I am very excited for the opportunity to drive value creation at an organization as dynamic as TDBBS,” said Mr. Hassett. “The company has enormous potential, and I look forward to working closely with Bregal Partners and the management team in further growing TDBBS.” Bregal Partners’ Managing Partner, Charles Yoon, stated, “We are thrilled Tim has joined the TDBBS team and are confident he is the right leader for the business. He is a world-class consumer-focused executive who has proven his ability to execute his vision and strategy while continuously inspiring those around him.” TDBBS, founded in 2007, is a market leader in providing healthy, natural dog treats and chews through a portfolio of brands, including Best Bully Sticks, Barkworthies, and Paw Luxury. In recent years, growth in the U.S. market for pet treats has outpaced the more mature pet food and supplies markets. Within pet treats, the natural and “occupational” chews category has been a key contributor to this growth as pet parents continue to view their dogs as members of the family, seeking out high quality products to keep their dogs busy, happy, and healthy. Items such as bully sticks, antlers, and other natural chews – many of which are single ingredient, high in protein, highly digestible, and offer dental benefits – provide pet parents with alternatives to rawhide, synthetic treats, and more traditional baked items that may contain artificial preservatives or long lists of ingredients with uncertain benefits. Mr. Yoon further noted that Bregal had targeted the pet industry as an area of focus over the past two years, given positive industry trends and the team’s prior investment experience in the space. “We see a clear path for TDBBS to leverage its portfolio of high-quality products to take advantage of tailwinds surrounding the growing natural treats and chews category. As consumers increasingly demand higher quality, limited ingredient products for their pets, there is a notable opportunity to build greater awareness of the benefits of natural chews and drive new product innovation. We intend to continue investing behind our impressive team and infrastructure as we transform the natural chews category.” Avrum Elmakis, TDBBS’s founder, stated, “We are incredibly excited to bring Tim on board and to partner with Bregal. The Bregal team has many years of experience in the pet industry, which will prove to be an invaluable asset to the Company going forward. I have never been more excited about the growth prospects of the business, and I think we have an opportunity in the coming years to truly establish ourselves as the clear leaders in the natural chews category.” Investment bank Harris Williams & Co. represented TDBBS, while Dechert LLP provided legal counsel to Bregal Partners on Bregal’s investment in TDBBS. BMO Sponsor Finance provided debt financing for the transaction. Financial terms of the transaction were not disclosed. About TDBBS TDBBS, based in Richmond, VA, is a leading provider of natural chews and pet treats. The Company operates a portfolio of brands including Best Bully Sticks, Barkworthies, and Paw Luxury, with a product offering spanning bully sticks, antlers, bones, jerky, and other natural chews. The Company specializes in products that are natural, limited ingredient, and high in protein. For more information on TDBBS, please visit www.tdbbsllc.com . About Bregal Partners Bregal Partners is a leading middle market private equity firm with a focus on corporate social responsibility. The firm looks to acquire and grow market leading businesses in the consumer, food, multi-unit, and energy services industries. Bregal Partners is one of several dedicated firms under the Bregal Investments umbrella, which is a global private equity platform that has invested or committed over $12.5 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180123005364/en/ BackBay Communications Philip Nunes, 617-391-0792 phil.nunes@backbaycommunications.com Source: Bregal Partners

http://www.cnbc.com/2018/01/23/business-wire-tdbbs-llc-announces-appointment-of-tim-hassett-as-ceo.html