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Cryptocurrencies and blockchain are becoming a hot trend in the job market

The cryptocurrency industry is getting so hot that dedicated career services are popping up. On Thursday, CoinDesk, a leading source of cryptocurrency news and organizer of major industry conferences, launched an online "Career Center" with job listings. It's "no secret demand for blockchain skills is high and that finding talent is a real difficulty," Jacob Donnelly, director of marketing, said in a statement. CoinDesk is also hosting a career fair along with its Consensus conference in New York this month. Listings of "blockchain" skills skyrocketed more than 6,000 percent in the first quarter from a year ago, online freelancing database Upwork said in a report Tuesday. That's far and away the hottest skill on Upwork, and a slight change from the fourth quarter when "bitcoin" was the fastest-growing skill and blockchain wasn't even on the list. "There's an explosion of activity around cryptocurrencies because of that extremely volatile, but extremely exciting, nature of bitcoin. There's a lot of millionaires made overnight and drawn a lot of people in," said Andy Challenger, vice president at placement firm Challenger, Gray and Christmas. "There's sort of a gold rush mentality." Bitcoin grabbed public attention last year when the price of one coin shot up more than 2,000 percent in 12 months to above $19,000. The cryptocurrency was the first application of blockchain technology, which eliminates the need for a third-party intermediary, such as a bank, by quickly creating a permanent, secure record of transactions between two parties. Now, start-ups and corporations alike are testing ways to use blockchain in a host of areas such as energy distribution and supply chain management. Last year, IBM , Microsoft and Accenture accounted for roughly half of $700 million in global revenues related to blockchain, according to Oppenheimer analysts Shaul Eyal and Tanner Hoban. They noted estimates that the size of the blockchain industry could grow into the tens of billions. "As the technology matures, we think those blockchain engineers will see absolutely high demand," Eyal said in a phone interview. "Right now it's a little bit of a wild, Wild West with many entrepreneurs trying to jockey for position." Some analysts say taking the risk in a cryptocurrency role could position someone for a key role in a major corporation down the road. "If you enter the crypto start-up space and gain some experience in the underlying blockchain technology, it will serve you really well," Challenger said. "It's an industry that requires a certain amount of expertise, and that's a rare commodity." The cryptocurrency industry is still small — the total market capitalization of all cryptocurrencies to date is about the size of one typical S&P 500 company, according to CoinMarketCap. And as with any nascent trend, the risks are high. Sometimes a start-up has a good idea, brings people to work on a prototype, but doesn't get funding, said David Gadd, director at tech recruiting firm Proxime Solutions. So the company has to close down. Still, the Canada-based recruiter said many people are coming out of government and insurance companies to work in blockchain and many financial institutions are also building up their own blockchain teams. Although "no one wants to be seen as the first company to come out with a blockchain project, they have a team ready to go sitting on the bench," Gadd said.

https://www.cnbc.com/2018/05/04/cryptocurrencies-and-blockchain-are-becoming-a-hot-trend-in-the-job-market.html

Airgain: 1Q Earnings Snapshot

SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Thursday reported a first-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier. The San Diego-based company said it had a loss of 12 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 7 cents per share. The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share. The antenna products developer posted revenue of $13.3 million in the period. Airgain shares have decreased 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.04, a decline of 43 percent in the last 12 months. This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on AIRG at https://www.zacks.com/ap/AIRG

https://www.cnbc.com/2018/05/03/the-associated-press-airgain-1q-earnings-snapshot.html

Ex-JPMorgan Chase Blockchain Duo Unveil New Startup

A few weeks after leaving their jobs in April, Amber Baldet and Patrick Mylund Nielsen are eating deviled eggs at a bar in Brooklyn as they prepare to reveal details about their next act for the first time. On a building a few blocks north, the blue, octagonal logo of their former employer, JPMorgan Chase , is perfectly framed within the sliver of skyline that’s visible from the street. Baldet, who most recently served as the bank’s blockchain program lead , is cofounding a new startup, Clovyr , that aims to help consumers, developers, and businesses explore the nascent, albeit burgeoning, world of blockchain-based, decentralized technologies, she tells Fortune . She is joined by Nielsen, former lead developer of Quorum , a JPMorgan Chase-built blockchain for business, who will serve as the concern’s chief technologist. Baldet unveiled a Clovyr demo at the Consensus conference in Manhattan on Monday afternoon. The company is in the process of fundraising. Clovyr’s product, now under development, is slated to take the form of something akin to an app store, where people and businesses can experiment with a multitude of decentralized apps and services, developer toolsets, and underlying distributed ledgers. The cofounders envision the platform serving as a neutral ground, offering a browser-like dashboard for the blockchain-curious, through which Clovyr can provide support and other services to customers according to their needs. A screenshot of the Clovyr demo during Baldet and Nielsen's keynote address at Consensus, a cryptocurrency and blockchain conference. Informing the duo’s mission is a belief in the inevitable, creeping convergence of public (Bitcoin-like) and “permissioned” (private, business-friendly) blockchains. Baldet compares businesses’ cautious approach to this brave new world to their leeriness when evaluating public clouds, like Amazon Web Services and Microsoft Azure, in years past. “When public cloud started to be a thing, a lot of businesses said, Oh, cloud, it’s a great idea architecturally, but we’re going to go ahead and build our own private cloud internally, because it’s safer and we know what we need,” Baldet says. “Now they’re spending millions of dollars to undo a lot of that work in an attempt to migrate to the public clouds that have evolved to the point where they are secure and robust and connected.” With respect to blockchains, “the conversation on the enterprise side right now feels a little bit like that,” Baldet says. Businesses have good reason to be cautious about the hype surrounding this new generation of cryptographically sealed databases and virtual moneys , and Baldet is the first person to admit that. But she is taking a long-term view with Clovyr, and aims to provide people with the tools to bridge these two worlds in preparation for their potential, gradual intersection. As one example of how a traditional company might begin to dabble with a public blockchain, Baldet suggests that tech staff might wish to “pin” a bit of cryptographically secured code associated with the state of a company’s internal networks onto an immutable, public ledger, like Ethereum’s blockchain. This could provide extra security, quality assurance, and auditability for the business, she says, and it is “probably the lowest barrier to entry.” In addition to Quorum, Baldet and Nielsen say Clovyr will initially be compatible with Parity and Geth, two popular Ethereum software clients. They plan to add other blockchain integrations into the mix as demand dictates, they say. This theme of creating hybrid blockchain environments—not unlike the development of hybrid cloud environments—is one that Baldet has been hinting at in a spree of talks in recent weeks, including at a recent MIT Technology Review conference and Ethereal , a community-building event put on by the Brooklyn-based Ethereum startup studio ConsenSys. “Sorry, there’s no ICO,” Baldet jokes, referring to an initial coin offering, a trendy, if legally dubious, way for cryptocurrency-related projects to raise money. But companies interested in interacting with public blockchains can expect Clovyr to help take care of conversions from traditional dollars to cryptocoins for them, should they desire, she says.

http://fortune.com/2018/05/14/blockchain-jpmorgan-chase-amber-baldet-clovyr/

IPL Scoreboard

May 19, 2018 / 2:01 PM / Updated 34 minutes ago IPL Scoreboard Reuters Staff 3 Min Read May 19 (OPTA) - Scoreboard at close of play on the first day of match 53 between Rajasthan Royals and Royal Challengers Bangalore on Saturday at Jaipur, India Rajasthan Royals win by 30 runs Rajasthan Royals 1st innings Rahul Tripathi Not Out 80 Jofra Archer c Parthiv Patel b Umesh Yadav 0 Ajinkya Rahane lbw Umesh Yadav 33 Sanju Samson c Moeen Ali b Umesh Yadav 0 Heinrich Klaasen c Moeen Ali b Mohammed Siraj 32 Krishnappa Gowtham Run Out Parthiv Patel 14 Extras 0b 1lb 0nb 0pen 4w 5 Total (20.0 overs) 164-5 Fall of Wickets : 1-2 Archer, 2-101 Rahane, 3-101 Samson, 4-149 Klaasen, 5-164 Gowtham Did Not Bat : Binny, Laughlin, Gopal, Sodhi, Unadkat Bowling Ov Md Rn Wk Econ Ex Yuzvendra Chahal 4 0 26 0 6.50 Umesh Yadav 4 1 25 3 6.25 Moeen Ali 2 0 19 0 9.50 Tim Southee 4 0 37 0 9.25 1w Mohammed Siraj 4 0 33 1 8.25 Colin de Grandhomme 2 0 23 0 11.50 3w Royal Challengers Bangalore 1st innings Virat Kohli b Krishnappa Gowtham 4 Parthiv Patel st Heinrich Klaasen b Shreyas Gopal 33 AB de Villiers st Heinrich Klaasen b Shreyas Gopal 53 Moeen Ali c&b Shreyas Gopal 1 Mandeep Singh st Heinrich Klaasen b Shreyas Gopal 3 Colin de Grandhomme c Ajinkya Rahane b Ish Sodhi 2 Sarfaraz Khan c Heinrich Klaasen b Ben Laughlin 7 Tim Southee c Krishnappa Gowtham b Jaydev Unadkat 14 Umesh Yadav b Ben Laughlin 0 Mohammed Siraj c Krishnappa Gowtham b Jaydev Unadkat 14 Yuzvendra Chahal Not Out 0 Extras 1b 1lb 0nb 0pen 1w 3 Total (19.2 overs) 134 all out Fall of Wickets : 1-20 Kohli, 2-75 Patel, 3-77 Ali, 4-85 Singh, 5-96 de Grandhomme, 6-98 de Villiers, 7-108 Khan, 8-108 Yadav, 9-128 Southee, 10-134 Siraj Bowling Ov Md Rn Wk Econ Ex Krishnappa Gowtham 2 0 6 1 3.00 Jofra Archer 4 0 37 0 9.25 1w Ben Laughlin 2 0 15 2 7.50 Jaydev Unadkat 3.2 0 27 2 8.10 Shreyas Gopal 4 0 16 4 4.00 Ish Sodhi 4 0 31 1 7.75 Umpire Virender Sharma Umpire Bruce Oxenford Video Chettithody Shamsuddin Match Referee Andrew Pycroft

https://uk.reuters.com/article/cricket-india-scoreboard/ipl-scoreboard-idUKMTZXEE5JZAWDB1

Netanyahu accuses Palestinian leader Abbas of anti-Semitism, Holocaust denial

May 2, 2018 / 10:16 AM / Updated 3 hours ago Netanyahu accuses Palestinian leader of anti-Semitism, Holocaust denial Stephen Farrell 4 Min Read JERUSALEM (Reuters) - Israeli Prime Minister Benjamin Netanyahu accused Mahmoud Abbas of anti-Semitism and Holocaust denial on Wednesday after the Palestinian leader suggested in a speech that historic persecution of European Jews had been caused by their conduct. FILE PHOTO: Israeli Prime Minister Benjamin Netanyahu attends the weekly cabinet meeting at the Prime Minister's office in Jerusalem April 15, 2018. Gali Tibbon/Pool via Reuters/File Photo Jewish groups and diplomats also condemned Abbas’ comments, made in a speech on Monday to the Palestinian National Council, that Jews had suffered historically not because of their religion but because they had served as bankers and money lenders. “It would appear that, once a Holocaust denier, always a Holocaust denier,” Netanyahu said on Twitter. “I call upon the international community to condemn the grave anti-Semitism of Abu Mazen (Abbas), which should have long since passed from this world.” Abbas said in his speech that Jews living in Europe had suffered massacres “every 10 to 15 years in some country since the 11th century and until the Holocaust”. Citing books written by various authors, Abbas argued: “They say hatred against Jews was not because of their religion, it was because of their social profession. So the Jewish issue that had spread against the Jews across Europe was not because of their religion, it was because of usury and banks.” “CLASSIC ANTI-SEMITE” Responding to the Israeli criticism, chief Palestinian negotiator Saeb Erekat said Abbas’ words had been “twisted” and that he had been citing the views of some historians. “The president did not deny the massacres the Jews were subject to, including the Holocaust,” Erekat said in a statement published on the official Palestinian news agency WAFA. “President Abbas has stressed frequently his respect for the religion of Judaism, and that our problem is with who occupies our land.” But Jewish leaders and others echoed Netanyahu’s criticism. “Abbas’ speech in Ramallah are the words of a classic anti-Semite,” said Marvin Hier and Abraham Cooper of the U.S.-based Jewish human rights organization the Simon Wiesenthal Center. “Instead of blaming the Jews, he should look in his own backyard to the role played by the Grand Mufti in supporting Adolf Hitler’s Final Solution,” they added. They were referring to Muslim Grand Mufti Haj Amin Husseini, a World War Two ally of Adolf Hitler, whose “Final Solution” led to the killing of six million Jews in Europe. In Jerusalem, U.N. Middle East envoy Nickolay Mladenov called Abbas’ comments “deeply disturbing”. “Leaders have an obligation to confront anti-Semitism everywhere and always, not perpetuate the conspiracy theories that fuel it,” he said. U.S. Ambassador to Israel David Friedman tweeted that Abbas had “reached a new low in attributing the cause of massacres of Jewish people over the years to their ‘social behavior’”. German Foreign Minister Heiko Maas and the foreign service of the European Union, the biggest donor of aid to the Palestinians, also condemned the comments. Abbas, 82, made his remarks in the West Bank city of Ramallah at a rare meeting of the Palestinian National Council, the de facto parliament of the Palestine Liberation Organisation (PLO), which Abbas heads. A veteran member of Fatah, the dominant faction of the PLO, Abbas served for decades as a loyal deputy of his predecessor, Yasser Arafat. He assumed the leadership of Fatah, the PLO and the Palestinian Authority after Arafat died in 2004. Abbas was born in 1935 in Safat, a town in the north of what was then British-ruled Palestine. His family became refugees in 1948, fleeing across the border to Syria as violence intensified between Jews and Arabs, culminating in war between the newly created State of Israel and its Arab neighbours in May 1948. In 1982 Abbas obtained a doctorate in history at the Moscow Institute of Orientalism in the then-Soviet Union. His dissertation, entitled “The Secret Relationship between Nazism and the Zionist Movement”, drew widespread criticism from Jewish groups, who accused him of Holocaust denial. Palestinian President Mahmoud Abbas waves in Ramallah, in the occupied West Bank May 1, 2018. REUTERS/Mohamad Torokman Additional reporting by Berlin and Brussels bureaus; Reporting by Stephen Farrell, Nidal al-Mughrabi, Ali Sawfta, Ari Rabinovitch; Editing by Gareth Jones

https://in.reuters.com/article/israel-palestinians-abbas-netanyahu/netanyahu-accuses-palestinian-leader-abbas-of-anti-semitism-holocaust-denial-idINKBN1I315W

CORRECTED-GRAINS-Corn hits 6-day high as forecast rain expected to delay sowing

CORRECTED-GRAINS-Corn hits 6-day high as forecast rain expected to delay sowing Published 10 Hours Ago Reuters sowing@ (Corrects headline to show that rain is forecast, not that it has already started to fall) SYDNEY, corn futures edged higher on Wednesday as forecasts for rains stoked concerns of planting delays, pushing prices to a six-day high. FUNDAMENTALS * The most active corn futures on the Chicago Board Of Trade were up 0.1 percent to $4.02-3/4 a bushel by 0140 GMT, near the session high of $4.03-1/4 a bushel - the highest since May 10. Corn gained 1.5 percent in the previous session. * The most active soybean futures were down 0.4 percent to $10.14-1/4 a bushel, having firmed 0.1 percent on Tuesday. * The most active wheat futures were up 0.2 percent to $4.92-1/4 a bushel, having closed up 0.5 percent on Wednesday. * The U.S. Agriculture Department on Monday afternoon said the U.S. winter wheat crop was rated 36 percent good to excellent as of May 14, up 2 percentage points from a week earlier. * USDA pegged corn planting progress at 62 percent, up from 39 percent a week earlier. The five-year average for mid-May is 63 percent. * Forecasts call for rains across the U.S. Midwest, threatening sowing pace. * The U.S. soybean crush in April jumped by almost 16 percent from the same month a year ago as soybean plants processed their largest-ever volume of beans for the month of April, the National Oilseed Processors Association said. MARKET NEWS * The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week. * Oil prices fell on Wednesday, weighed down by ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran. * A surge in U.S. government bond yields to their highest level in almost seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States and China. DATA AHEAD (GMT) 0130 China House prices Apr 1230 U.S. Housing starts Apr 1230 U.S. Building permits Apr 1315 U.S. Industrial production Apr Grains prices at 0140 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 494.25 0.75 +0.15% +0.61% 498.98 45 CBOT corn 402.75 0.50 +0.12% +1.58% 397.85 67 CBOT soy 1014.25 -4.50 -0.44% -0.34% 1040.58 47 CBOT rice 12.51 $0.03 +0.20% +0.04% $12.98 50 WTI crude 70.98 -$0.33 -0.46% +0.03% $68.08 64 Currencies Euro/dlr $1.183 -$0.001 -0.10% -0.84% USD/AUD 0.7457 -0.001 -0.19% -0.90% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham Editing by Vyas Mohan)

https://www.cnbc.com/2018/05/15/reuters-america-corrected-grains-corn-hits-6-day-high-as-forecast-rain-expected-to-delay-sowing.html

Sri Lanka to sign deals with Total, Schlumberger for seismic study

May 4, 2018 / 10:28 AM / in 4 minutes Sri Lanka to sign deals with Total, Schlumberger for seismic study Ranga Sirilal 2 Min Read COLOMBO (Reuters) - Sri Lanka will sign agreements with French oil and gas major Total and a subsidiary of U.S. firm Schlumberger for a seismic study off its east coast to evaluate any prospective oil resources, a top official said on Friday. FILE PHOTO: The logo of French oil giant Total is pictured at its first gas station in Mexico City, Mexico January 25, 2018. REUTERS/Daniel Becerril/File Photo Vajira Dassanayake, the director general at Petroleum Resources Development Secretariat (PRDS), said a first deal signed with Total in 2016 to conduct a study off the eastern coast did not take place due to “some issues”. “We are hoping to sign a new agreement with Total later this month,” Dassanayake told Reuters. Total had earlier signed a two-year agreement with PRDS to survey around 50,000 sq km off the east coast from the air, at a cost of $25 million to acquire data on unexplored areas. Dassanayake said Total will invest $3 million to $10 million for the seismic study, while Eastern Echo Holding Ltd, a subsidiary of Schlumberger, will carry it out. “It’s a marine survey. There will be more resources allocated this time compared to the previous agreement. They will have the marketing exclusivity for a certain period until they recover their cost,” Dassanayake said. “Actual ownership of the data will be with the government of Sri Lanka. They (Total) have one year to negotiate with us and to give us a favorable contract for production and sharing.” Officials from Total and Schlumberger did not immediately respond to requests for comment. Sri Lanka produces no oil and is dependent on imports for all of its fuel requirements, despite trying to reinvigorate oil and gas exploration after the end nine years ago of its 25-year civil war with Tamil separatists. Importing oil cost the island $3.2 billion in 2017. Reporting by Ranga Sirilal; Writing by Shihar Aneez; Editing by Tom Hogue

https://www.reuters.com/article/us-sri-lanka-oil-exploration/sri-lanka-to-sign-deals-with-total-schlumberger-for-seismic-study-idUSKBN1I512V

KKR shares jumps 10% after private equity firm announces structuring change

Asia KKR shares jump after private equity firm announces structuring change Private equity firm KKR says it plans to convert to a corporation from a partnership, effective July 1. As a corporation, KKR plans to pay an annualized dividend of 50 cents per common share and increase its authorized share repurchase amount to $500 million. Daniel Acker | Bloomberg | Getty Images Henry Kravis, co-founder of KKR KKR shares jumped Thursday after the private equity firm announced a plan to convert to a corporation from a partnership. Shares traded more than 3.5 percent higher Thursday morning. During the premarket, it had gained as much as 10 percent. A corporation allows shareholders to receive more of a company's profits than a partnership, in which the partners have a greater stake. The conversion to a corporation will become effective July 1, the company said in an earnings release Thursday. As a corporation, KKR plans to pay an annualized dividend of 50 cents per common share and increase its authorized share repurchase amount to $500 million. "KKR's conversion from a partnership to a corporation is designed to broaden our investor base, simplify our structure and make it easier to invest in our shares," Henry R. Kravis and George R. Roberts, co-chairmen and co-CEOs of KKR, said in a statement. "We believe this change, together with continued strong performance, will increase our ability to generate significant long-term equity value for all of our shareholders," they said. The private equity firm also reported quarterly earnings that beat expectations on the top and bottom lines, according to FactSet. Shares of other private equity companies rose Thursday morning. Blackstone traded just over half a percent higher, as did Apollo Global Management . Carlyle gained more than 2.5 percent.

https://www.cnbc.com/2018/05/03/kkr-shares-jumps-10-percent-after-private-equity-firm-announces-structuring-change.html

UPDATE 1-Japan Post Insurance ready to buy short-term Italian debt:CIO

May 31, 2018 / 7:59 AM / Updated 2 minutes ago Japan Post Insurance ready to buy short-term Italian debt: CIO Tomo Uetake , Hideyuki Sano 3 Min Read TOKYO (Reuters) - Japan Post Insurance Co, one of the largest Japanese institutional investors, is looking to buy short-term Italian government bonds after the recent sell-off made them inexpensive, its chief investment officer said. The firm, also known as Kampo, holds 76.8 trillion yen ($707 billion) of assets and has limited exposure to Italian debt after having reduced its holdings by two-thirds before the country’s election on March 4, Atsushi Tachibana told Reuters. “We are looking to buy short-term Italian bonds now,” Tachibana said, adding that he expects volatility to remain high and present good buying opportunities when the market overreacts. Kampo’s current Italian debt exposure amounts to 1 percent of its total foreign debt holdings. That would suggest about 70 billion yen ($644.5 million) based on its latest disclosure, which puts its holdings of foreign bonds at around 7 trillion yen. “We thought Italian political risks were underestimated when the two-year Italian yield was so close to the German yields ahead of the election,” Tachibana said. The two-year Italian debt yield was around minus 0.10-0.20 percent, compared to minus 0.60 percent, just before the inconclusive election. It spiked to almost 3 percent on Tuesday, marking the biggest one-day rise since 1992, after the two anti-establishment parties clashed with the country’s president who rejected their choice of an eurosceptic economist as finance minister. Tachibana said Japan Post sought to buy some Italian bonds on Wednesday only to be hindered by wide bid-offer spreads. “The market seemed to be overreacting. I don’t think Italy would default on its debts.” Kampo is the insurance arm of formerly state-owned conglomerate Japan Post Holdings and has been increasing investments in riskier assets since it was partially privatized in 2015. In the last financial year, it was one of the most aggressive buyers of foreign bonds among Japanese insurers, boosting its holdings by 1 trillion yen. Japan’s largest private insurer Nippon Life, which holds some 4.8 trillion yen ($44 billion) worth of euro zone bonds, said on Wednesday it had no plans for now to buy or sell its Italian debt holdings. Since the middle of last year, many Japanese investors have been piling into European bonds because their yields after currency hedging are attractive. From October to March, Japanese investors bought 1.57 trillion yen of German bonds, 2.09 trillion yen of French bonds, 695 billion yen of Spanish bonds and 266 billion yen of Irish bonds. But Japanese investors have taken a cautious stance on Italian bonds in the past half year, buying only 52 billion yen. ($1 = 108.62 yen)

https://www.reuters.com/article/us-japanpostinsurance-bonds-italy/japan-post-insurance-ready-to-buy-short-term-italian-debt-cio-idUSKCN1IW0S9

Zebra Technologies Announces First-Quarter 2018 Results

First-Quarter Financial Highlights Strong net sales of $977 million; year-over-year growth of 13% Net income of $109 million and net income per diluted share of $2.01 Non-GAAP diluted EPS increased 87% year-over-year to $2.56 Adjusted EBITDA increased 37% year-over-year to $204 million; and adjusted EBITDA margin expanded 370 basis points year-over-year to 20.9% $116 million of cash from operations and $98 million of free cash flow; $95 million reduction of total debt LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Zebra Technologies Corporation (NASDAQ: ZBRA), the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, today announced results for the first quarter ended March 31, 2018. “Our first quarter results were driven by strong broad-based market demand for our solutions and excellent operational execution by our team. We delivered net sales, EBITDA margin, and earnings per share above the respective guidance ranges. We also continued to aggressively retire debt, reducing our net leverage ratio to 2.8x,” said Anders Gustafsson, chief executive officer of Zebra Technologies. “Given our sales and margin outperformance, we are raising our full-year outlook for sales growth, EBITDA margin, and free cash flow. We continue to be laser focused on providing innovative solutions that give our customers a performance edge on the front lines of their business operations.” $ in millions, except per share amounts 1Q18 1Q17 Change Select reported measures: Net sales $ 977 $ 865 12.9 % Gross profit 465 401 16.0 % Net income 109 8 NM Net income per diluted share $ 2.01 $ 0.16 NM Select Non-GAAP measures: Adjusted net sales $ 977 $ 866 12.8 % Organic net sales growth 9.8 % Adjusted gross profit 466 402 15.9 % Adjusted gross margin 47.7 % 46.4 % 130 bps Adjusted EBITDA 204 149 36.9 % Adjusted EBITDA margin 20.9 % 17.2 % 370 bps Non-GAAP net income $ 138 $ 72 91.7 % Non-GAAP earnings per diluted share $ 2.56 $ 1.37 86.9 % Reported (GAAP) results Net sales were $977 million in the first quarter of 2018 compared to $865 million in the first quarter of 2017. Net sales in the Enterprise Visibility & Mobility ("EVM") segment were $625 million in the first quarter of 2018 compared with $544 million in the first quarter of 2017. Asset Intelligence & Tracking ("AIT") segment net sales were $352 million in the first quarter of 2018 compared to $322 million in the prior year period. First-quarter 2018 gross profit was $465 million compared to $401 million in the comparable prior year period. Net income for the first quarter of 2018 was $109 million, or $2.01 per diluted share, compared to net income of $8 million, or $0.16 per diluted share, for the first quarter of 2017. As of January 1, 2018, the company adopted revenue standard ASC 606. Revenue would have been $1 million higher for the three-month period ended March 31, 2018 had the Company continued to follow our accounting policies under the previous revenue recognition guidance. Adjusted (Non-GAAP) results Consolidated adjusted net sales were $977 million in the first quarter of 2018 compared to $866 million in the prior year period, an increase of 12.8%. Consolidated organic net sales growth for the first quarter was 9.8% reflecting growth across all regions, most notably EMEA and North America. First-quarter year-over-year organic net sales growth was 11.7% in the EVM segment and 6.4% in the AIT segment. Consolidated adjusted gross margin for the first quarter of 2018 was 47.7%, compared to 46.4% in the prior year period. This increase was due to favorable business mix and the favorable impact of currency changes, primarily in the EMEA region. Adjusted operating expenses increased in the first quarter of 2018 to $282 million from $272 million in the prior year period primarily due to growth in the business and increased incentive compensation expense related to improved operating results. Adjusted EBITDA for the first quarter of 2018 increased to $204 million, or 20.9% of adjusted net sales, compared to $149 million, or 17.2% of adjusted net sales, for the first quarter of 2017 primarily due to higher sales and gross profit margin. Non-GAAP net income for the first quarter of 2018 was $138 million, or $2.56 per diluted share, compared with $72 million, or $1.37 per diluted share, for the first quarter of 2017. Lower interest costs and a lower tax rate also drove year-over-year improvement. Balance Sheet and Cash Flow As of March 31, 2018, the company had cash and cash equivalents of $64 million and total debt of $2,133 million. Free cash flow in the first quarter of 2018 was $98 million, consisting of $116 million of cash flow from operations and capital expenditures of $18 million. In the first quarter, the company made $95 million in long-term debt payments and $26 million in scheduled cash interest payments. Outlook Second Quarter 2018 The company entered the second quarter of 2018 with a strong order backlog and expects second-quarter 2018 net sales to increase approximately 9% to 12% from the second quarter of 2017. This expectation includes an approximately 3 percentage point positive impact from foreign currency translation. Adjusted EBITDA margin is expected to be in the range of 18.5% to 19.0% for the second quarter 2018, favorable to the prior year period. Non-GAAP earnings per diluted share are expected to be in the range of $2.10 to $2.30. This assumes an effective tax rate of approximately 16% to 17%. Full Year 2018 The company now expects full year 2018 net sales growth to increase approximately 6% to 9%, which is favorable to our prior outlook and includes an anticipated 2 percentage point positive impact from foreign currency translation. Adjusted EBITDA margin is now expected to be approximately 20% for the full year 2018, which is favorable to our prior outlook and an improvement compared to the full year 2017. For the full year 2018, the company expects free cash flow to exceed $500 million, which is favorable to our prior outlook, and to reduce financial leverage. Conference Call Notification Investors are invited to listen to a live webcast of Zebra’s conference call regarding the company’s financial results for the first quarter of 2018. The conference call will be held today, Tuesday, May 8, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). To view the webcast, visit the investor relations section of the company’s website at investors.zebra.com . About Zebra With the unparalleled operational visibility Zebra (NASDAQ: ZBRA) provides, enterprises become as smart and connected as the world we live in. Real-time information – gleaned from visionary solutions including hardware, software and services – gives organizations the competitive edge they need to simplify operations, know more about their businesses and customers, and empower their mobile workers to succeed in today’s data-centric world. For more information, visit www.zebra.com or sign up for our news alerts . Follow us on LinkedIn , Twitter and Facebook . Forward-Looking Statements This press release contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements regarding the company’s outlook. Actual results may differ from those expressed or implied in the company’s forward-looking statements. These statements represent estimates only as of the date they were made. Zebra undertakes no obligation, other than as may be required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this release. These forward-looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and uncertainties inherent in Zebra’s industry, market conditions, general domestic and international economic conditions, and other factors. These factors include customer acceptance of Zebra’s hardware and software products and competitors’ product offerings, and the potential effects of technological changes. The continued uncertainty over future global economic conditions, the availability of credit and capital markets volatility may have adverse effects on Zebra, its suppliers and its customers. In addition, a disruption in our ability to obtain products from vendors as a result of supply chain constraints, natural disasters or other circumstances could restrict sales and negatively affect customer relationships. Profits and profitability will be affected by Zebra’s ability to control manufacturing and operating costs. Because of its debt, interest rates and financial market conditions will also have an impact on results. Foreign exchange rates will have an effect on financial results because of the large percentage of our international sales. The outcome of litigation in which Zebra may be involved is another factor. The success of integrating acquisitions could also affect profitability, reported results and the company’s competitive position in its industry. These and other factors could have an adverse effect on Zebra’s sales, gross profit margins and results of operations and increase the volatility of our financial results. When used in this release and documents referenced, the words “anticipate,” “believe,” “outlook,” and “expect” and similar expressions, as they relate to the company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. Descriptions of the risks, uncertainties and other factors that could affect the company’s future operations and results can be found in Zebra’s filings with the Securities and Exchange Commission, including the company’s most recent Form 10-K. Information regarding the impact of the TCJA consists of preliminary estimates, based on current calculations, interpretations, assumptions and expectations. These estimates may change materially as we learn additional information about and obtain additional guidance on the TCJA. Use of Non-GAAP Financial Information This press release contains certain Non-GAAP financial measures, consisting of “adjusted net sales,” “adjusted gross profit,” “EBITDA,” “Adjusted EBITDA,” “Non-GAAP net income,” “Non-GAAP earnings per share,” “free cash flow,” “organic net sales growth,” and “adjusted operating expenses.” Management presents these measures to focus on the on-going operations and believes it is useful to investors because they enable them to perform meaningful comparisons of past and present operating results. The company believes it is useful to present Non-GAAP financial measures, which exclude certain significant items, as a means to understand the performance of its ongoing operations and how management views the business. Please see the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables and accompanying disclosures at the end of this press release for more detailed information regarding non-GAAP financial measures herein, including the items reflected in adjusted net earnings calculations. These measures, however, should not be construed as an alternative to any other measure of performance determined in accordance with GAAP. The company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis (including the information under “Outlook” above) where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, are out of the company’s control and/or cannot be reasonably predicted, and that would impact diluted net earnings per share, the most directly comparable forward-looking GAAP financial measure. For the same reasons, the company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. As a global company, Zebra's operating results reported in U.S. dollars are affected by foreign currency exchange rate fluctuations because the underlying foreign currencies in which the company transacts change in value over time compared to the U.S. dollar; accordingly, the company presents certain organic growth financial information, which includes impacts of foreign currency translation, to provide a framework to assess how the company’s businesses performed excluding the impact of foreign currency exchange rate fluctuations. Foreign currency impact represents the difference in results that are attributable to fluctuations in the currency exchange rates used to convert the results for businesses where the functional currency is not the U.S. dollar. This impact is calculated by translating, for certain currencies, current period results at the currency exchange rates used in the comparable period in the prior year, rather than the exchange rates in effect during the current period. In addition, the company excludes the impact of its foreign currency hedging program in both the current year and prior year periods. The company believes these measures should be considered a supplement to and not in lieu of the company’s performance measures calculated in accordance with GAAP. ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except share data) March 31, December 31, 2018 2017 (Unaudited) Assets Current assets: Cash and cash equivalents $ 64 $ 62 Accounts receivable, net of allowances for doubtful accounts of $2 million and $3 million as of March 31, 2018 and December 31, 2017, respectively 471 479 Inventories, net 448 458 Income tax receivable 31 40 Prepaid expenses and other current assets 39 24 Total Current assets 1,053 1,063 Property, plant and equipment, net 262 264 Goodwill 2,463 2,465 Other intangibles, net 276 299 Long-term deferred income taxes 115 119 Other long-term assets 80 65 Total Assets $ 4,249 $ 4,275 Liabilities and Stockholders’ Equity Current liabilities: Current portion of long-term debt $ 43 $ 51 Accounts payable 411 424 Accrued liabilities 221 296 Deferred revenue 201 186 Income taxes payable 56 43 Total Current liabilities 932 1,000 Long-term debt 2,090 2,176 Long-term deferred revenue 144 148 Other long-term liabilities 102 117 Total Liabilities 3,268 3,441 Stockholders’ Equity: Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued — — Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares 1 1 Additional paid-in capital 266 257 Treasury stock at cost, 18,755,228 and 18,915,762 shares at March 31, 2018 and December 31, 2017, respectively (616 ) (620 ) Retained earnings 1,376 1,248 Accumulated other comprehensive loss (46 ) (52 ) Total Stockholders’ Equity 981 834 Total Liabilities and Stockholders’ Equity $ 4,249 $ 4,275 ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share data) (Unaudited) Three Months Ended March 31, April 1, 2018 2017 Net sales Net sales of tangible products $ 839 $ 735 Revenue from services and software 138 130 Total Net sales 977 865 Cost of sales: Cost of sales of tangible products 423 379 Cost of services and software 89 85 Total Cost of sales 512 464 Gross profit 465 401 Operating expenses: Selling and marketing 120 109 Research and development 101 96 General and administrative 71 75 Amortization of intangible assets 23 50 Acquisition and integration costs 2 27 Exit and restructuring costs 4 4 Total Operating expenses 321 361 Operating income 144 40 Other expenses: Foreign exchange loss — (1 ) Interest expense, net (11 ) (41 ) Total Other expenses (11 ) (42 ) Income (loss) before income taxes 133 (2 ) Income tax expense (benefit) 24 (10 ) Net income $ 109 $ 8 Basic earnings per share $ 2.04 $ 0.16 Diluted earnings per share $ 2.01 $ 0.16 Basic weighted average shares outstanding 53,286,249 51,842,025 Diluted weighted average and equivalent shares outstanding 53,985,755 52,946,883 ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Three Months Ended March 31, April 1, 2018 2017 Cash flows from operating activities: Net income $ 109 $ 8 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 43 69 Amortization of debt issuance costs and discounts 2 4 Share-based compensation 10 7 Deferred income taxes (2 ) (9 ) Unrealized gain on forward interest rate swaps (12 ) — Other, net (1 ) 1 Changes in operating assets and liabilities: Accounts receivable, net 9 79 Inventories, net 6 (31 ) Other assets (7 ) 17 Accounts payable (12 ) (52 ) Accrued liabilities (74 ) — Deferred revenue 19 30 Income taxes 22 (2 ) Other operating activities 4 (4 ) Net cash provided by operating activities 116 117 Cash flows from investing activities: Purchases of property, plant and equipment (18 ) (13 ) Purchases of long-term investments (2 ) — Net cash used in investing activities (20 ) (13 ) Cash flows from financing activities: Payments of long-term debt (95 ) (80 ) Proceeds from exercise of stock options and stock purchase plan purchases 3 4 Taxes paid related to net share settlement of equity awards — (2 ) Net cash used in financing activities (92 ) (78 ) Effect of exchange rate changes on cash (2 ) (2 ) Net increase in cash and cash equivalents 2 24 Cash and cash equivalents at beginning of period 62 156 Cash and cash equivalents at end of period $ 64 $ 180 Supplemental disclosures of cash flow information: Income taxes paid $ 2 $ 5 Interest paid $ 26 $ 16 ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES RECONCILIATION OF ORGANIC NET SALES GROWTH (UNAUDITED) Three Months Ended March 31, 2018 AIT EVM Consolidated Reported GAAP Consolidated Net sales growth 9.3 % 14.9 % 12.9 % Adjustments: Impact of foreign currency translation (1) (2.9 )% (3.2 )% (3.1 )% Organic Net sales growth 6.4 % 11.7 % 9.8 % (1) Operating results reported in U.S. dollars are affected by foreign currency exchange rate fluctuations. Foreign currency translation impact represents the difference in results that are attributable to fluctuations in the currency exchange rates used to convert the results for businesses where the functional currency is not the U.S. dollar. This impact is calculated by translating, for certain currencies, the current period results at the currency exchange rates used in the comparable prior year period, rather than the exchange rates in effect during the current period. In addition, we exclude the impact of the company’s foreign currency hedging program in both the current and prior year periods. ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP GROSS MARGIN (In millions) (Unaudited) Three Months Ended March 31, 2018 April 1, 2017 AIT EVM Consolidated AIT EVM Consolidated (1) GAAP Reported Net sales (1) $ 352 $ 625 $ 977 $ 322 $ 544 $ 865 Reported Gross profit 183 282 465 162 240 401 Gross Margin 52.0 % 45.1 % 47.6 % 50.3 % 44.1 % 46.4 % Non-GAAP Adjusted Net sales $ 352 $ 625 $ 977 $ 322 $ 544 $ 866 Adjusted Gross profit (2) 183 283 466 162 240 402 Adjusted Gross Margin 52.0 % 45.3 % 47.7 % 50.3 % 44.1 % 46.4 % (1) Fiscal 2017 consolidated results include corporate eliminations which are related to the Enterprise Acquisition in October 2014 and are not reported in segment results. (2) Adjusted Gross profit excludes purchase accounting adjustments and share-based compensation expense. ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP NET INCOME (In millions, except share data) (Unaudited) Three Months Ended March 31, April 1, 2018 2017 Net income $ 109 $ 8 Adjustments to Net sales (1) Purchase accounting adjustments — 1 Total adjustment to Net sales — 1 Adjustments to Cost of sales (1) Share-based compensation 1 — Total adjustments to Cost of sales 1 — Adjustments to Operating expenses (1) Amortization of intangible assets 23 50 Acquisition and integration costs 2 27 Share-based compensation 10 8 Exit and restructuring costs 4 4 Total adjustments to Operating expenses 39 89 Adjustments to Other expenses, net (1) Amortization of debt issuance costs and discounts 2 4 Foreign exchange loss — 1 Forward interest rate swaps gain (12 ) — Total adjustments to Other expenses, net (10 ) 5 Income tax effect of adjustments (2) Reported income tax expense (benefit) 24 (10 ) Adjusted income tax expense (25 ) (21 ) Total adjustments to income tax (1 ) (31 ) Total adjustments 29 64 Non-GAAP Net income $ 138 $ 72 GAAP earnings per share Basic $ 2.04 $ 0.16 Diluted $ 2.01 $ 0.16 Non-GAAP earnings per share Basic $ 2.59 $ 1.40 Diluted $ 2.56 $ 1.37 Non-GAAP weighted average shares outstanding (3) Basic 53,286,249 51,842,025 Diluted 53,985,755 52,946,883 (1) Presented on a pre-tax basis. (2) Represents the adjustment to the GAAP basis tax provision commensurate with non-GAAP adjustments. (3) In periods of loss, Non-GAAP weighted-average shares exclude restricted stock awards and performance stock awards within basic and dilutive weighted-average share computations. Share-based compensation awards that are dilutive in nature are included within weighted-average dilutive share computations. ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES GAAP to NON-GAAP RECONCILIATION (In millions) (Unaudited) EBITDA Three Months Ended March 31, April 1, 2018 2017 Net income $ 109 $ 8 Add back: Depreciation 20 19 Amortization of intangible assets 23 50 Total Other expenses, net 11 42 Income tax expense 24 (10 ) EBITDA (Non-GAAP) 187 109 Adjustments to Net sales Purchase accounting adjustments — 1 Total adjustments to Net sales — 1 Adjustments to Cost of sales Share-based compensation 1 — Total adjustments to Cost of sales 1 — Adjustments to Operating expenses Acquisition and integration costs 2 27 Share-based compensation 10 8 Exit and restructuring costs 4 4 Total adjustments to Operating expenses 16 39 Total adjustments to EBITDA 17 40 Adjusted EBITDA (Non-GAAP) $ 204 $ 149 Adjusted EBITDA % of Adjusted Net Sales 20.9 % 17.2 % FREE CASH FLOW Three Months Ended March 31, April 1, 2018 2017 Net cash provided by operating activities $ 116 $ 117 Less: Purchases of property, plant and equipment (18 ) (13 ) Free cash flow (Non-GAAP) (1) $ 98 $ 104 (1) Free cash flow is defined as Net cash provided by operating activities in a period minus purchases of property, plant and equipment (capital expenditures) made in that period. This measure does not represent residual cash flows available for discretionary expenditures as the measure does not deduct the payments required for debt service and other contractual obligations or payments for future business acquisitions. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our entire statements of cash flows. View source version on businesswire.com : https://www.businesswire.com/news/home/20180508005442/en/ Zebra Technologies Corporation Investors Michael Steele, CFA, IRC Vice President, Investor Relations Phone: + 1 847 793 6707 msteele@zebra.com or Media Therese Van Ryne Director, Global Public Relations Phone: + 1 847 370 2317 therese.vanryne@zebra.com Source: Zebra Technologies Corporation

http://www.cnbc.com/2018/05/08/business-wire-zebra-technologies-announces-first-quarter-2018-results.html

'Humbling' U.S. settlement clears crisis-era hangover for RBS

LONDON (Reuters) - Royal Bank of Scotland’s ( RBS.L ) shares rose as much as 6 percent on Thursday after the bank reached a $4.9 billion settlement with U.S. authorities, opening the way for its privatization and return of cash to taxpayers who bailed it out in the financial crisis. The fine, much lower than expected, resolves a U.S. Department of Justice investigation into the British bank’s sale of mis-priced mortgage-backed securities in the run-up to the crisis and clears one of its most debilitating hangovers from that era. “It’s very humbling to have to announce a settlement of this magnitude,” the bank’s finance director Ewen Stevenson told reporters. The agreement clears the way for RBS to restore its dividend and for the government to start selling down its more than 70 percent stake. RBS executives said that it would take a few weeks to finish the paperwork, but the total penalty was unlikely to increase. Analysts had estimated a DOJ fine of up to $12 billion. “The number is a firm number,” Stevenson said. RBS said it would be able to cover the bulk of the penalty out of existing provisions alongside a $1.44 billion charge it will take in the second quarter of this year. “This marks a watershed for RBS – for as long as this investigation cast a pall over earnings and forecasts there was nowhere for investors to really go,” said Neil Wilson, chief analyst for Markets.com. Related Coverage RBS to consider appeals for indirect losses to businesses in turnaround unit CRISIS CASUALTY The Department of Justice has previously settled with a whole list of banks including Citigroup ( C.N ), Deutsche Bank ( DBKGn.DE ), JPMorgan Chase ( JPM.N ), Credit Suisse ( CSGN.S ), Morgan Stanley ( MS.N ), Goldman Sachs ( GS.N ), Bank of America ( BAC.N ) and Barclays ( BARC.L ) for a total of more than $60 billion. Bank of America paid the highest sum of $16.7 billion as part of an accord that also resolved claims by other federal agencies and several states. Barclays, which settled in March, had the smallest figure at $2 billion. Once the world’s largest bank by assets, RBS was one of the biggest casualties of the crisis which crippled credit, stock and housing markets and upended the global economy. It narrowly avoided insolvency in 2008 after the government agreed a 45 billion pound ($61 billion) bailout, just six months after it had raised 12 billion pounds of cash from shareholders. Chief Executive Ross McEwan’s predecessor, Stephen Hester, who joined the bank following the bailout, said he had texted McEwan this morning to congratulate him and the team. “That’s the last really big milestone before the bank can be seen to be fully normalized,” Hester, who is now CEO of RSA ( RSA.L ), said during a conference call on the insurer’s results. The fine had been a big obstacle to the government’s plan, laid out in November, to begin reprivatising RBS before the end of the 2018-19 fiscal year - a much needed boost for finance minister Philip Hammond’s coffers. FILE PHOTO: Morning commuters walk past a branch of the Royal Bank of Scotland (RBS) in London, Britain, November 4, 2011. REUTERS/Andrew Winning/File Photo BACK TO DIVIDENDS After ten years of restructuring, paying fines and shedding around 1.5 trillion pounds in assets, the DOJ settlement means RBS’s last large legacy issue is out of the way. It had already paid just over $7 billion in other settlements with various U.S. authorities. McEwan also said the bank would now discuss with regulators paying RBS’s first dividend in a decade, leaving open the possibility the bank could start returning years’ worth of surplus capital to shareholders before its next annual results. “The fact they can begin to think about how to return that to shareholders is a major and long-awaited change,” said Olivia Treharne, a fund manager at Legal & General Investment Management, RBS’s number 10 shareholder according to Thomson Reuters data. One of the bank’s largest 20 investors said shareholders should be cautious about the prospects of getting their hands on the bank’s excess capital just yet. “This is hardly a Silicon Valley company. I’d like to see much of that plowed into the bank’s IT systems,” said the investor, who asked not to be named. McEwan had hoped for a settlement before the end of 2017, but changes at the DOJ following the inauguration of U.S. President Donald Trump saw negotiations slip back. RBS may have benefited from settling under Trump’s administration, which has been softer on banks than that of his predecessor Barack Obama. RBS executives said one reason for the settlement being below estimates was that RBS did not have to pay out billions of dollars in consumer relief, a staple of such settlements under the Obama administration. ($1 = 0.7372 pounds) Additional reporting by Carolyn Cohn; Editing by Keith Weir and Jane Merriman

https://www.reuters.com/article/us-royal-bank-scot-settlement/humbling-u-s-settlement-clears-crisis-era-hangover-for-rbs-idUSKBN1IB14E

Wall Street Week Ahead: Homebuilders poised for gains but face interest-rate fears

NEW YORK (Reuters) - Some investors are betting on shares of homebuilders to outperform U.S. stocks at large, but with interest rates expected to rise they may have to wait several months before those bets pay off. Traders work on floor of the New York Stock Exchange (NYSE) shortly before the close of trading in New York, U.S., December 13, 2016. REUTERS/Lucas Jackson/Files The U.S. economy looks ideal for homebuilding stocks to benefit. The unemployment rate has fallen to its lowest level in more than 17 years and consumer confidence is near the highest levels in 17 years, according to the Conference Board. And demand for housing in an already tight market is being supported by the many millennials seeking to purchase their first home, several investors said. The U.S. Commerce Department’s data on April housing starts will be released on Wednesday, followed by data on new-home sales on May 23. But other factors could raise costs for home buyers, potentially hampering home sales. A sharp rise this year in U.S. Treasury yields reflects increasing worries about inflation and fears that the Federal Reserve will raise interest rates more aggressively than has been expected. The yield on the 10-year Treasury note is used as the benchmark for mortgage interest rates; higher rates increase mortgage costs for home buyers. “The continued rally in yields is a potential red flag,” said Jared Woodard, an investment strategist at Bank of America Merrill Lynch in New York. The 10-year Treasury yield US10YR=RR has briefly exceeded the 3 percent mark, the highest level since January 2014 and more than 50 basis points higher than where it started the year. The S&P Composite 1500 Homebuilding index .SPCOMHOME has lagged the broader market, falling 16.9 percent from its Jan. 22 peak, which is more than three times the percentage decline of the S&P 500 .SPX from its high that month. In 2017, the homebuilding index soared 74.8 percent from the previous year. Other factors also cast a cloud on the housing market. Last year’s federal tax overhaul put a cap on deductions for state and local and property taxes and lowered the amount of mortgage interest that is deductible, all of which results in higher costs for many homeowners. Homebuilders have also pointed to rising costs for materials and labor in their earnings calls, though so far they have had little impact on their margins. “The factors indicate that there may be some headwinds going forward,” said Michael Cuggino, president and portfolio manager of Permanent Portfolio Funds in San Francisco, which owns shares of Lennar Corp ( LEN.N ), the largest U.S. homebuilder by market capitalization. Shares of the five largest U.S. homebuilders by market capitalization jumped on April 4, when Lennar reported robust quarterly sales and raised its forecast for the year. Lennar’s shares climbed 10 percent that day, and PulteGroup Inc ( PHM.N ), D.R. Horton Inc ( DHI.N ), Toll Brothers Inc ( TOL.N ) and NVR Inc ( NVR.N ) rose between 4.1 percent and 6.4 percent. The stocks have given up much of those gains since then, even though homebuilders have continued to deliver upbeat results. Lennar shares have tumbled 13.7 percent. D.R. Horton, NVR and Toll Brothers are down 3.9 percent, 3.3 percent and 3 percent, respectively. Only PulteGroup has added to its April 4 gains, rising 1.8 percent. Homebuilders that sell units at multiple price points, from starter homes to luxury properties, and are active throughout the United States are best positioned to withstand investors’ skittishness over interest rates, Cuggino said. Next up to report is Toll Brothers, which focuses on the luxury market and is scheduled to release its quarterly earnings on May 22. Still, some investors say this year’s industry underperformance looks like a normal response to the 2017 run-up. Though housing starts have risen, hitting 1.319 million units in March, demand among home buyers has outpaced the limited housing supply in part because of the many millennials are entering the market. “This is just a pause,” said Brian Macauley, co-portfolio manager of the Hennessy Focus Fund in Arlington, Virginia, which owns shares of NVR. “As fundamentals come through, the stocks will behave better.” Signs of worries about affordability among home buyers, such as a move toward smaller homes or an uptick in adjustable-rate mortgages, have not yet emerged, said Jack Micenko, an analyst at Susquehanna Financial Group in New York. Low earnings multiples could also draw investors’ attention. The 12-month forward price-to-earnings ratio for the S&P 500 Homebuilding index .SPLRCHOME, which comprises just Lennar, PulteGroup and D.R. Horton, has fallen to 9.5 from 13.7 at the end of 2017. The price-to-earnings ratio for the S&P 500 is 16, down from 18.5 at the end of 2017. “If (homebuilders) have solid orders and growth and hold their margins, they could work from here,” said Jonathan Woloshin, head of Americas equities and real estate at the chief investment office of UBS Global Wealth Management in New York. “There are some very attractive valuations out there.” Reporting by April Joyner; Editing by Alden Bentley and Leslie Adler

https://in.reuters.com/article/us-usa-stocks-weekahead/homebuilders-poised-for-gains-but-face-interest-rate-fears-idINKBN1IC185

Why do Ebola outbreaks keep happening?

Why do Ebola outbreaks keep happening? 2:31pm BST - 02:06 The latest Ebola outbreak in West Africa has now reached a major population center, meaning it may be about to get much harder to contain. Stopping these repeat manifestations of the virus cuts to questions of education and food sources in the region. ▲ Hide Transcript ▶ View Transcript The latest Ebola outbreak in West Africa has now reached a major population center, meaning it may be about to get much harder to contain. Stopping these repeat manifestations of the virus cuts to questions of education and food sources in the region. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2wKivCa

https://uk.reuters.com/video/2018/05/17/why-do-ebola-outbreaks-keep-happening?videoId=427636197

Russia quietly conducted the world's longest surface-to-air missile test

Taxes Russia quietly conducted the world's longest surface-to-air missile test Russia quietly conducted the world's longest surface-to-air missile test, according to sources with direct knowledge of U.S. intelligence about the weapons program. The S-500 surface-to-air missile system successfully struck a target 299 miles away. Russia claims that the ground-based missile system is capable of intercepting hypersonic missiles, drones, aircraft as well as stealth warplanes like the F-22 and the F-35. CNBC.com Alexander Zemlianichenko | Reuters Russian President Vladimir Putin listens to Defence Minister Sergei Shoigu as they attend the Navy Day parade in St. Petersburg, Russia, July 30, 2017. Picture taken July 30, 2017. Russia quietly conducted the world's longest surface-to-air missile test, according to sources with direct knowledge of U.S. intelligence concerning the weapons program. The S-500 surface-to-air missile system successfully struck a target 299 miles away, which the U.S. assessed is 50 miles further than any known test, said the sources, who spoke to CNBC on the condition of anonymity. Russia claims that the ground-based missile system is capable of intercepting hypersonic missiles, drones, aircraft as well as stealth warplanes like the F-22 and the F-35. The S-500 system would expand the Kremlin's capabilities to engage multiple targets with precision strikes. Russia also claims the system has a range capable of destroying objects flying at near-space ranges or 62 miles above the Earth's surface. The developments about the new missile system emerge as investigators claim that a Russian-owned surface-to-air missile blew up Malaysia Airlines Flight 17 in 2014 over eastern Ukraine. Russia has denied involvement in the incident. On Thursday, Moscow's defense ministry said none of the country's air-defense missile systems crossed the Russia-Ukraine border. A medium-range Buk surface-to-air missile system was reportedly used to down the plane, resulting in the deaths of nearly 300 people. The Buk system is from a different family of missile systems as the new S-500 and its predecessor, the S-300V4, which has been operational since the late 1970s. Sergei Bobylev | TASS | Getty Images Loading surface-to-air missiles for an S-300 anti-aircraft system at the Key to the Skies contest as part of the 2017 International Army Games held by Russias Defence Ministry at Ashuluk Firing Range. The test of the new system used a modified variant of the missile used in the S-300V4 surface-to-air system. The latest revelation comes one week after CNBC learned that multiple U.S. intelligence reports assess that Russia will be capable of fielding a hypersonic glide vehicle called Avangard, a weapon that no country can defend against, by 2020. The hypersonic weapon is capable of carrying a nuclear warhead, is designed to sit atop an intercontinental ballistic missile. Once launched, it uses aerodynamic forces to sail on top of the atmosphere. Sources, who spoke to CNBC on the condition of anonymity, said Russia successfully tested the weapon twice in 2016 . The third known test of the device was carried out in October 2017 and resulted in a failure when the platform crashed seconds before striking its target. Meanwhile, Russia is expected to test their hypersonic glide vehicle again this summer. show chapters

https://www.cnbc.com/2018/05/24/russia-quietly-conducted-the-worlds-longest-surface-to-air-missile-test.html

Apple blocks Steam's plan to extend its video games to iPhones

May 25, 2018 / 2:31 AM / Updated 15 hours ago Apple blocks Steam's plan to extend its video games to iPhones Stephen Nellis 3 Min Read (Reuters) - Apple Inc ( AAPL.O ) has blocked the plans of the biggest distributor of PC-based video games to extend its reach into iPhones, according to the game distributor, a sign that Apple is serious about protecting its ability to take a cut of digital purchases made inside games on its mobile devices. The Apple logo is seen on a computer screen in this illustration photo taken in Bordeaux, France, February 1, 2017. REUTERS/Regis Duvignau/File Photo Steam, the dominant online store for downloaded games played on Windows PCs, had planned to release a free mobile phone app called Steam Link so that gamers could continue playing on their mobile phones while away from their desktop machines. But Apple has rejected the app, blocking its release, according to a statement from Steam’s parent company, the Bellevue, Washington-based Valve Corp. “The team here spent many hours on this project and the approval process, so we’re clearly disappointed,” Valve spokesman Doug Lombardi said in a statement to Reuters. “But we hope Apple will reconsider in the future.” Apple did not immediately return a request for comment. The magazine Variety earlier reported Steam’s rejection from the App Store. Bob O’Donnell, chief of TECHnalysis Research, said Apple’s move to block steam could hurt it with users between 18 and 24 years old, more than half of whom have iPhones, according to his research. “What they’re doing is denying iPhone owners access to the most important gaming ecosystem there is,” he said. “Given that the younger demographic skews toward iPhones, it seems particularly damaging.” Steam did not give a precise reason for the App Store denials, saying only that Apple cited “business conflicts with app guidelines.” But the conflict likely centers on what are known as in-app purchases or micro-transactions, in which gamers can spend small sums of money inside games to buy tokens, extra lives or others so-called digital goods. Lombardi said Steam disabled purchasing its iOS app but did not elaborate on how the change was made. Apple takes a 30 percent cut of such purchases made within apps distributed through its App Store. Analysts believe those purchases are among the primary drivers of revenue in Apple’s services business, which includes the App Store, iCloud and Apple Music. In Apple’s most recent quarter, services revenue hit $9.1 billion, beating Wall Street expectations and providing a bright spot for revenue growth as the smartphone market matures. [nL1N1S81KI] Steam, however, also offers purchases within games distributed through its platform and also takes a cut of those purchases. Apple’s App Store guidelines ban such a store-within-a-store unless the purchases flow the Apple’s infrastructure and pay Apple’s cut. Reporting by Stephen Nellis; Editing by Lisa Shumaker

https://www.reuters.com/article/us-apple-steam/apple-blocks-steams-plan-to-extend-its-video-games-to-iphones-idUSKCN1IQ09D

IFF to buy Israel's Frutarom for $7.1 bln in cash, stock

JERUSALEM, May 7 (Reuters) - International Flavors & Fragrances Inc. agreed to buy Israeli flavours and ingredients maker Frutarom for $7.1 billion in a cash and stock transaction that would create the leader in the sector, the companies said on Monday. Under the deal, which has been approved by both boards, Frutarom’s shareholders will receive for each Frutarom share $71.19 in cash and 0.249 per share of IFF common stock for a total value of $106.25 per share. IFF, which is paying an 11 percent premium to Frutarom’s May 6 close, also will assume Frutarom’s net debt while the two companies will have combined revenue of $5.3 billion in 2018. IFF and Frutarom said they expect to realise some $145 million of cost synergies by the third full year after closing, with about 25 percent achieved in the first full year. The deal is expected to be neutral to adjusted cash earnings per share in the first year and double-digit accretive to adjusted cash earnings per share in the second year. Reporting by Steven Scheer Editing by Tova Cohen Our

https://www.reuters.com/article/intl-flavors-frutarom-inds-acquisition/iff-to-buy-israels-frutarom-for-7-1-bln-in-cash-stock-idUSL8N1SE0VK

Metal to Acquire Crumbs Technologies Inc.

SAN FRANCISCO, May 30, 2018 /PRNewswire/ -- Metal today announced it has entered into a definitive agreement to acquire Crumbs (Crumbs Technologies Inc.), an innovative micro investing app that allows users to invest in digital assets. The addition of Crumbs will seamlessly integrate into the ecosystem of Metal, delivering a single platform that not only rewards people for P2P transactions within Metal Pay, but also helps them invest in several types of digital assets with the Crumbs app. In a world where many people are interested in digital assets, but only a few are able to invest comfortably, Crumbs allows its users to set aside spare change from daily purchases and use it to create their very own digital assets portfolio. Crumbs offers a user-friendly way to keep up with and invest in digital asset markets. Metal is leading the way in designing and delivering a platform that makes digital assets accessible for the entire world. At the center of this platform is the belief that money should work for people and people shouldn't work for money. To this end, Metal reimagines money for those who want to create a better world. Touching on Metal's vision for the future, CEO of Metal, Marshall Hayner said, "The current financial system excludes people from really exciting opportunities and that's why I am so excited about the Crumbs acquisition. We are eager to put this opportunity in every person's hands and allow anyone to be involved in this new financial system... and have a seat at the table." "We are thrilled to join forces with Metal and provide retail investors with the ultimate on-ramp into the new financial world of digital assets and investments," said Patrick Mrozowski, CEO of Crumbs. "Together, Metal and Crumbs will build a suite of products to attract more newcomers into blockchain." Crumbs will continue to operate independently within Metal and will co-launch with Metal's flagship product Metal Pay in the summer. About Crumbs Technologies Inc. Crumbs Technologies Inc. combines the power of micro-investing with the performance of digital assets in their app, Crumbs. Crumbs lets users invest in digital assets with their spare change from credit and debit cards. This game-changing app allows users to set aside spare change from daily purchases into their own customizable indexes of digital assets. Learn more at crumbsapp.io . About Metal Metal is reimagining money by putting digital assets in the hands of every person in the world. By creating an ecosystem of products, Metal meets the needs of all types of users. Whether you are completely new to digital assets, or are a seasoned investor, Metal's portfolio of products makes it simple, enjoyable and rewarding to participate in the new financial system. For more information, visit metalpay.com . Contact: Metal Email: hello@metalpay.com View original content: http://www.prnewswire.com/news-releases/metal-to-acquire-crumbs-technologies-inc-300656803.html SOURCE Metallicus, Inc.

http://www.cnbc.com/2018/05/30/pr-newswire-metal-to-acquire-crumbs-technologies-inc.html

IIROC Trading Halt / Suspension de la negociation par l'OCRCVM - FORE.P, RHV.P

VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) -- The following issues have been halted by IIROC / L'OCRCVM a suspendu la negociation des titres suivants: Company / Société : FORESHORE EXPLORATION PARTNERS CORP. TSX-Venture Symbol / Symbole à la Bourse de croissance TSX : FORE.P Reason / Motif : Pending Closing / En attente Halt Time (ET) / Heure de la suspension (HE) 8:00, May 29, 2018 Company / Société : RAINY HOLLOW VENTURES INC. TSX-Venture Symbol / Symbole à la Bourse de croissance TSX : RHV.P Reason / Motif : Pending Closing / En attente Halt Time (ET) / Heure de la suspension (HE) 8:00, May 29, 2018 IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. L'OCRCVM peut prendre la decision d'imposer une suspension provisoire des negociations sur le titre d'une societe cotee en bourse, habituellement en prevision d'une annonce importante de la part de la societe. Les suspensions de negociations sont imposees suivant le principe que tous les investisseurs devraient avoir un acces egal et simultane a l'information importante au sujet des societes dans lesquelles ils investissent. L'OCRCVM est l'organisme d'autoreglementation national qui surveille l'ensemble des societes de courtage et l'ensemble des operations effectuees sur les marches boursiers et les marches de titres d'emprunt au Canada. Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only. Veuillez prendre note que l'OCRCVM n'est pas en mesure de fournir d'informations supplementaires au sujet d'une suspension des negociations en particulier. L'information est restreinte aux questions generales. IIROC Inquiries 1-877-442-4322 (Option 2) Source:Investment Industry Regulatory Organization of Canada

http://www.cnbc.com/2018/05/29/globe-newswire-iiroc-trading-halt-suspension-de-la-negociation-par-locrcvm--fore-p-rhv-p.html

RRD International Appoints Bridget Martell, M.D. as Chief Medical Officer and Promotes Maryann Krane to Senior Vice President, Program Leadership

ROCKVILLE, Md., May 31, 2018 /PRNewswire/ -- RRD International, a specialized product development company that provides strategic and operational support to biopharmaceutical companies and investors, today announced the appointment of Bridget Martell, M.D. as chief medical officer (CMO) and the promotion of Maryann Krane, earlier this year, to senior vice president, program leadership. "The addition of Bridget to the RRD team and Maryann's promotion is a reflection of how we continue to strengthen our industry-leading team of product development experts", said Scott Tarrant, president of RRD International. "Both Bridget and Maryann contribute veteran expertise and strategic perspective as we help biopharmaceutical companies and investors make more efficient use of capital and accelerate product development." Dr. Martell brings more than 18 years of experience in clinical development, regulatory, and medical affairs to RRD. She has served in leadership roles at companies including Pfizer, Purdue Pharma, and Juniper Pharmaceuticals with a track record of success that contributed to the approval of six products in immuno-oncology, oncology, orphan disease, sleep medicine, and cardiovascular medicine. She has broad therapeutic experience having brought small molecules, complex protein biologics, biosimilars, therapeutic vaccines, and combination products through various stages of development, including most recently, the in-licensing and development of three intravaginal ring products while serving as chief medical officer at Juniper Pharma. Dr. Martell holds a B.S. in microbiology from Cornell University, an M.A. in molecular immunology from Boston University, and an M.D. from The Chicago Medical School. She completed her internship and residency in internal medicine and was an internal medicine chief resident and Robert Wood Johnson Faculty Scholar at Yale University. She is board certified in both internal and addiction medicine. As CMO, Martell will provide medical oversight and clinical development leadership in support of RRD's internal team on behalf of the Company's biopharmaceutical Product Development Team (PDT) partners. An eleven-year veteran of RRD, Ms. Krane has more than 25 years of experience in drug development, including regulatory affairs and chemistry, manufacturing, and controls. At RRD, Ms. Krane has had a central role in guiding partners through early stage development challenges while helping foster significant growth in asset value. She is adept at working strategically with the leadership teams of biopharmaceutical companies, boards, and investors and is ideally suited for her new role. Prior to joining RRD, Ms. Krane was vice president of regulatory affairs and corporate quality at Ariad Pharmaceuticals and held management level positions at several biopharmaceutical companies, including Genetics Institute and Wyeth Pharmaceuticals where she was regulatory therapeutic head for the development of hematology and oncology investigational and marketed products. Ms. Krane has product development experience in multiple therapeutic areas, has developed successful global product registration strategies for several products, and has extensive submission experience developing IND, BLA, MAA, NDA, NDS, Orphan Designation, Fast Track, Special Protocol Assessment, and European Scientific Advice applications. Ms. Krane holds a B.S. in microbiology from the University of Massachusetts. About RRD International: RRD International is a product development company that provides integrated, expert-level strategic, regulatory, and operational support to biopharmaceutical companies and investors. The Company's unique Product Development Team model (PDT) provides an effective, asset-centric alternative to traditional industry practices. While comprehensive in value, structure, and function – encompassing all aspects of a development program including strategic planning, management, and execution – the PDT model is also highly resource efficient with an intense focus on minimizing cost, time, and risk to achieve human proof-of-concept (POC). Since 2002, RRD has worked with more than 100 organizations across all major classes and therapeutic areas. For more information, visit www.rrdintl.com . View original content: http://www.prnewswire.com/news-releases/rrd-international-appoints-bridget-martell-md-as-chief-medical-officer-and-promotes-maryann-krane-to-senior-vice-president-program-leadership-300656837.html SOURCE RRD International

http://www.cnbc.com/2018/05/31/pr-newswire-rrd-international-appoints-bridget-martell-m-d-as-chief-medical-officer-and-promotes-maryann-krane-to-senior-vice-president.html

Roku shares jump after co posts smaller-than-expected loss

(Reuters) - Roku Inc ( ROKU.O ) shares were up nearly 7 percent premarket on Thursday after it posted smaller-than-expected first-quarter loss helped by its TV streaming platform. A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company's IPO at the Nasdaq Market in New York, U.S., September 28, 2017. REUTERS/Brendan McDermid Roku, which makes devices for TV streaming, said bit.ly/2ryHWAN on Wednesday revenue from its platform more than doubled to $75.1 million, from strong growth across advertising and content distribution. “The strong growth in Roku Channel usage highlights growing ad-supported content consumption,” Morgan Stanley analyst Benjamin Swinburne wrote in a client note. Roku also beat Wall Street expectations with active accounts up 47 percent to 20.8 million at the end of March 31 and average revenue per user jumping 50 percent, fastest growth rate in 18 months. “Roku reported an impressive quarter, validating our view that it is one of a handful of companies leading the transition to over-the-top video consumption,” said Tom Forte, an analyst at D. A. Davidson who also called the results “outstanding”. Roku shares were last up 6.7 percent at $38.55 in premarket after having fallen nearly 30 percent this year. Reporting by Sonam Rai in Bengaluru; Editing by Shailesh Kuber

https://www.reuters.com/article/us-roku-stocks/roku-shares-jump-after-co-posts-smaller-than-expected-loss-idUSKBN1IB1YE

US-China trade: Focus on structural changes, not deficit

President Donald Trump's administration should focus on pushing for structural changes in China , rather than on the massive trade imbalance between the world's two largest economies, a former U.S. government official said Monday. "I'd say focus more on structural changes, getting market opening, fair treatment, level playing field, IP (intellectual property) issues, investment protection. Focus on those kind of issues that will allow you to sell on market terms," said Frank Lavin, who was formerly U.S. Under Secretary of Commerce for international trade. Lavin said the U.S. administration should be wary of getting a deal from Beijing that would only be a short-term solution. "If they give you a check, watch out. They're sort of buying you off and getting you just to go away for that money, so be careful of that," Lavin said. Lavin's comments came after U.S. Treasury Secretary Steven Mnuchin said on Sunday that the world's two largest economies agreed to drop their tariff threats while they work on a wider trade agreement. On Saturday, Beijing and Washington said they would keep talking about measures under which China would import more energy and agricultural commodities from the United States to close its trade deficit with the U.S., which was $375 billion in 2017 . During an initial round of talks this month in Beijing, Washington demanded that China reduce its trade surplus by $200 billion, Reuters reported. No dollar figure was cited in the countries' joint statement on Saturday. show chapters US doesn't know what it wants from trade war with China: Moody's Analytics 11 Hours Ago | 03:52 Trump "made a mistake anchoring negotiations on that number," said Lavin, who is currently the chairman of Export Now, a business consultancy. He was formerly also U.S. ambassador to Singapore under the George W. Bush administration. "Because demand in China for U.S. food isn't going to double in a year, demand for Boeings isn't going to double in a year, and U.S. productive capacity can't double in a year either," Lavin told CNBC's "Street Signs." The top U.S. trade official, Robert Lighthizer, said that getting China to open its market to more U.S. exports was significant, but that it was far more important for the United States to resolve issues with China, such as forced technology transfers and cyber theft. "Real structural change is necessary. Nothing less than the future of tens of millions of American jobs is at stake," U.S. Trade Representative Lighthizer said in a statement on Sunday. Many of Trump's complaints about China are valid, Lavin added. Even though the Chinese economy has been gradually opening up over the past two decades, "the openings in China have not kept pace with the economic growth of China and with the benefits China has gotten from the rest of the world being more open," he said. 'Baby steps' more likely than North Korea denuclearization Amid uncertainties over whether a high-profile meeting between Trump and North Korean leader Kim Jong Un will eventually take place in Singapore, Lavin said it is likely to happen. show chapters Trump-Kim summit likely to yield 'baby steps': Former US ambassador 12 Hours Ago | 02:27 But the outcome of an outright agreement of denuclearization from Pyongyang would be unlikely, he said. "I'd be more positive about this process if some baby steps emerge, meaning I don't think we are likely to get a universal agreement to denuclearize North Korea, allow for inspections. I think that's unlikely and I think overly ambitious for a first meeting," said Lavin. However, some "measurable baby steps" will help reassure the world that Kim is changing and that "it is a new North Korea," added Lavin. That could come in the form of family reunions, phone calls between North and South Korea and some steps toward currency convertibility, he said. Pyongyang has in the past promised to back off its nuclear weapon development program, only to repeatedly backtrack. South Korean President Moon Jae-in and Trump are set to meet on Tuesday in Washington before Kim meets with Trump on June 12 in Singapore. Kim, on his part, will keep raising the price for denuclearization, such as bargaining for the unwinding of economic sanctions and some sort of military commitment from the U.S., like troop withdrawal from the region, Lavin predicted. Reuters contributed to this story.

https://www.cnbc.com/2018/05/21/us-china-trade-focus-on-structural-changes-not-deficit.html

Worsening Italian crisis batters European markets

Worsening Italian crisis batters European markets 6:39pm IST - 01:53 A worsening political crisis in Italy provoked a second day of selling on European markets, with the euro cut to an 11-month low, stocks punished and short-term borrowing costs surging for the government in Rome. Kate King reports. ▲ Hide Transcript ▶ View Transcript A worsening political crisis in Italy provoked a second day of selling on European markets, with the euro cut to an 11-month low, stocks punished and short-term borrowing costs surging for the government in Rome. Kate King reports. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2H0vQWQ

https://in.reuters.com/video/2018/05/29/worsening-italian-crisis-batters-europea?videoId=431410837

Poor Venezuelans crowd pro-Maduro stations in hope of vote 'prize'

May 20, 2018 / 8:45 PM / Updated an hour ago Poor Venezuelans crowd pro-Maduro stations in hope of vote 'prize' Luc Cohen , Francisco Aguilar 4 Min Read CARACAS/BARINAS, Venezuela (Reuters) - Poor Venezuelans scanned state-issued “fatherland cards” at red tents after voting on Sunday in hope of receiving a prize promised by President Nicolas Maduro, a practice opponents said was akin to vote-buying. Venezuelan citizens check in at a "Red Point," an area set up by President Nicolas Maduro's party, to verify that they cast their votes during the presidential election in Barquisimeto, Venezuela, May 20, 2018. REUTERS/Carlos Jasso Leftist Maduro was expected to cruise to victory thanks to the heavy use of state resources, a ban on two of his most popular rivals, and a loyalist electoral council. Maduro looked set to be re-elected to a six-year term in an election boycotted by the opposition and condemned by foes as the “coronation” of a dictator. Results are expected by late Sunday evening. Maduro’s critics said the scheme was aimed at driving up the turnout by frightening hungry Venezuelans into thinking that if they do not vote, they could lose out on food rations and money transfers they depend on as hyperinflation and shortages have millions living hand-to-mouth. Those benefits typically come via the fatherland cards. A Venezuelan citizens has her id checked at a "Red Point," an area set up by President Nicolas Maduro's party to verify that people cast their votes during the presidential election in Caracas, Venezuela, May 20, 2018. REUTERS/Marco Bello A former bus driver, Maduro describes himself as Venezuela’s “worker president” and says initiatives like the fatherland card show he is trying to protect the country’s poor in the face of what he says is an “economic war” waged by right-wing rivals. “This didn’t exist before, but I do it now because of the help I get,” said Jose Torres, 77, flashing an image of the late president, Hugo Chavez, that he keeps in his wallet after scanning his card at a “red point” in Lara state. The opposition Democratic Unity coalition said the red points were stationed outside 80 percent of polling stations. Electoral Council President Tibisay Lucena had said the tents must be at least 200 meters (655 feet) from polling stations and that Maduro had assured her no cards would be scanned. Venezuelan citizens wait to check in at a "Red Point," an area set up by President Nicolas Maduro's party, to verify that they cast their votes during the presidential election in Maracaibo, Venezuela, May 20, 2018. REUTERS/Isaac Urrutia Jose Bula But Reuters witnesses saw cards being scanned and several red points located much closer - with one inside the school where Maduro voted at dawn. Henri Falcon, a former soldier and state governor who defied the boycott to challenge Maduro, said his team had registered around 900 complaints about the red points. “The buying of votes, toying with people’s dignity, cannot continue,” said Falcon after voting in Lara. During the campaign, Maduro had promised that voters who showed their fatherland cards at the polls would receive a “really good prize.” It was not immediately clear what that was, but Falcon said he heard it was 10 million bolivars - a mere $13 at the black market rate, but about 10 times the monthly minimum wage. Construction worker Josue Valecillos, 54, in Chavez’s home state of Barinas said volunteers scanned his card on a phone and vowed a quick transfer. “They offered me 10 million bolivars,” said Maduro supporter Valecillos. Party volunteers pushed back at accusations of blackmail even as some acknowledged those who signed up would receive money. Volunteer Ruben Vega, who was manning a red point in the Caracas neighborhood of San Bernardino, said voters who scanned their cards “could” get a bank transfer of “a few million” bolivars. “The point of the bonus is to encourage people to vote for the candidate they want,” said Vega, 55. “We are ‘Chavistas’, but what we want is that many people go out and vote, for whoever.” Additional reporting by Corina Pons in Barquisimeto, Andreina Aponte in Caracas and Tibisay Romero in Valencia; Writing by Luc Cohen; Editing by Peter Cooney and Sandra Maler

https://www.reuters.com/article/us-venezuela-election-irregularities/poor-venezuelans-crowd-pro-maduro-stations-in-hope-of-vote-prize-idUSKCN1IL0TA

UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid

May 18, 2018 / 7:03 PM / Updated 28 minutes ago UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid Reuters Staff 2 Min Read LILONGWE, May 18 (Reuters) - Malawi’s finance minister said on Friday that economic stability would unlock budget support from the country’s western donors which had been suspended over graft allegations. Finance Minister Goodall Gondwe said that the county had achieved economic stability and attained the desired goal of the International Monetary Fund’s approval of a $112.3 million loan which in turn has helped unlock frozen aid. “With inflation at 9.7 percent in April, interest rates are falling, the exchange rate has stabilised and foreign reserves have soared to a historical level, it means that the target of economic stability has been achieved,” Gondwe told parliament when presenting his 2018/19 budget. Both the World Bank and the European Union suspended budget support in 2012 over a corruption scandal in which public servants siphoned off millions of dollars. Last month the IMF approved a new three-year loan arrangement for Malawi to assist the southern African country’s economic and financial reforms. The fund said that Malawi had shown progress in achieving macroeconomic stabilisation following two years of drought. Gondwe said the country will now focus on robust economic growth as the main target and forecast the economy to expand by 4.1 percent this year, supported by more infrastructure investment and social spending. The growth forecast compares with 5.1 percent in 2017. “World Bank returned with budget support during the current financial year and it is due to disburse another one in the early part of the next financial year. It is also expected that the EU could approve budget support for Malawi in the course of 2018/19,” he said. Malawi has a total public debt of $3.50 billion, with about a third of that in external debt. (Reporting by Mabvuto Banda Editing by Alexander Smith)

https://www.reuters.com/article/malawi-budget/update-1-malawi-says-world-bank-eu-to-unlock-suspended-budget-aid-idUSL5N1SP5WA

UPDATE 1-Brazil, truckers to hold talks on ending fuel protests

May 23, 2018 / 3:03 PM / Updated 10 minutes ago UPDATE 1-Brazil, truckers to hold talks on ending fuel protests Reuters Staff 3 Min Read (Recasts to show talks on ending standoff set for this afternoon.) BRASÍLIA/SÃO PAULO, May 23 (Reuters) - The Brazilian government and a group representing truck drivers were due to meet on Wednesday to try to negotiate an end to trucker protests this week over diesel prices that have affected transportation of goods ranging from auto parts to animal feed. The two sides would meet in the afternoon at the office of Eliseu Padilha, President Michel Temer’s chief of staff, said a spokesman for ABCAM, which represents the protesters. The talks will be the first such meeting since truckers began partially blocking roads in several states on Monday to protest a rise of about 50 percent in fuel prices in less than a year. ABCAM scheduled a news conference for 5 p.m. (2000 GMT) in Brasília to discuss the outcome of talks with the government. The government had no comment. State-run oil firm Petroleo Brasileiro SA on Wednesday announced the second reduction this week in diesel and gasoline prices - part of the company’s new policy of announcing almost daily adjustments to reflect variations in global oil prices and foreign exchange rates. Since the truckers’ protects started, Petrobras and the government have denied that there has been any political interference in the company’s pricing decisions. Temer’s government said on Tuesday it would propose a reduction in the PIS/Cofins tax on diesel fuel in an effort to end the trucker protests. That followed an initial proposal this week to cut only the separate CIDE fuel tax, which truckers complained accounted for only a fraction of the taxes on diesel fuel. House Speaker Rodrigo Maia said late on Tuesday that the government was including the PIS/Cofins cut in a proposed law that would also boost payroll taxes, adding that the plan would be put to a congressional vote next Tuesday. According to Petrobras, state and federal taxes make up 29 percent of the final price of diesel paid by the consumer. The average retail price of diesel is currently 3.595 reais per liter. Brazil is a key global supplier of grains, meat, coffee and sugar — most of which reach ports by road. Soy futures rose in Chicago on Tuesday for a second straight day as the protests threatened to halt shipments of Brazil’s record soybean harvest. Brazil’s third largest poultry and pork processor, Cooperativa Central Aurora Alimentos, said on Tuesday it planned to halt operations at 15 plants in the country on Thursday and Friday because of the road transport snarls. (Reporting by Maria Carolina Marcello, Pedro Fonseca, Alberto Alerigi Writing by Ana Mano Editing by Chizu Nomiyama and Frances Kerry)

https://www.reuters.com/article/brazil-transport/update-1-brazil-truckers-to-hold-talks-on-ending-fuel-protests-idUSL2N1SU0JS

UPDATE 1-South African rand steadies ahead of rates decision, stocks tumble

(Updates rand, bonds, stocks) JOHANNESBURG, May 23 (Reuters) - South Africa’s rand steadied against the dollar in late afternoon trade on Wednesday, recovering from losses earlier in the session, as a rise in consumer price inflation (CPI) reduced prospects for further interest rates cuts. At 1515 GMT, the rand was trading at 12.5650 against the dollar, not far off its close of 12.5625 on Tuesday. It had earlier weakened to a session low of 12.7050. South Africa’s CPI jumped to 4.5 percent in April as a higher rate of value added tax and a sharp increase in fuel prices wiped away the previous month’s dip in prices. “The South African Reserve Bank has acknowledged the favourable trend in inflation and growth in the early months of 2018, lowering the repo rate by 25 basis points in March,” said Elize Kruger, an economist at NKC African Economics. “However, given the forecast of an upward trend in consumer inflation from here onwards, we forecast no further interest rate cuts, but that interest rates could remain unchanged at this level for a prolonged period.” The central bank is expected to keep rates unchanged at 6.5 percent on Thursday, according to a Reuters survey of 25 economists. The focus for markets this week is also on S&P Global Ratings’ sovereign ratings review on Friday. In fixed income, the yield on the government bond due in 2026 fell 3 basis points to 8.52 percent, reflecting firmer prices. Stocks tanked as investors across the globe sought refuge in safe havens on jitters about setbacks to U.S.-China trade talks. Scandal-hit retailer Steinhoff set the tone, falling nearly 8 percent after saying it had repaid about 2 billion euros ($2.3 billion) of its debt in Africa after its local unit used the proceeds of a fundraising to pay back 16 billion rand ($1.3 billion) in shareholder loans. The retailer has been fighting for survival after it discovered accounting irregularities in December, which sparked a sell-off in its shares that wiped more than $10 billion off its stock market value and led to multiple investigations globally. The benchmark Top-40 index fell 2 percent to 50,599 points, while the wider All-share index shed 1.9 percent to 57,043 points. (Reporting by Olivia Kumwenda-Mtambo and Ed Stoddard; Editing by Mark Potter)

https://www.reuters.com/article/safrica-markets/update-1-south-african-rand-steadies-ahead-of-rates-decision-stocks-tumble-idUSL5N1SU59E

Rugby-Lock de Jager injured in blow to Boks

May 15, 2018 / 3:56 PM / Updated an hour ago Lock de Jager injured in blow to Boks Reuters Staff 1 Min Read PRETORIA (Reuters) - South Africa lock Lood de Jager is the latest injury setback for the Springboks ahead of the arrival of England’s touring team after tearing a pectoral muscle that requires surgery. FILE PHOTO: Britain Rugby Union - South Africa Captain's Run - Twickenham Stadium - 11/11/16 South Africa's Lood de Jager during the captain's run Action Images via Reuters / Andrew Boyers Livepic De Jager was hurt in the Bulls’ 39-33 Super Rugby win over the Sharks on Saturday and will not available before September, team officials said on Tuesday. He joins his successor as SA Rugby Player of the Year, Malcolm Marx, on the sidelines for the four tests in June — against Wales in Washington DC on June 2 and then three at home to England. Marx has a hamstring injury. South Africa will also miss Eben Etzebeth, who captained the team last year in the absence of Warren Whiteley, who is expected back from a knee injury in the coming weeks. Etzebeth is suffering from a long-standing shoulder injury. Reporting by Mark Gleeson in Johannesburg; Editing by Christian Radnedge

https://uk.reuters.com/article/uk-rugby-union-zaf/lock-de-jager-injured-in-blow-to-boks-idUKKCN1IG2GE

Adaptive Insights Files Registration Statement for Proposed Initial Public Offering

PALO ALTO, Calif., May 17, 2018 /PRNewswire/ -- Adaptive Insights, Inc. today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not been determined. Adaptive Insights intends to list its common stock on the New York Stock Exchange under the ticker symbol "ADIN." Morgan Stanley, BofA Merrill Lynch, Jefferies LLC, and RBC Capital Markets, LLC will act as bookrunners for the proposed offering. JMP Securities and Oppenheimer & Co. Inc. will act as co-managers. This proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department; or by email at dg.prospectus_requests@baml.com . A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Adaptive Insights is headquartered in Palo Alto, CA. View original content with multimedia: http://www.prnewswire.com/news-releases/adaptive-insights-files-registration-statement-for-proposed-initial-public-offering-300650450.html SOURCE Adaptive Insights

http://www.cnbc.com/2018/05/17/pr-newswire-adaptive-insights-files-registration-statement-for-proposed-initial-public-offering.html

Macedonian PM sees solution to name dispute with Greece in June

May 17, 2018 / 12:10 PM / Updated 41 minutes ago Macedonian PM sees solution to name dispute with Greece in June Reuters Staff 1 Min Read SOFIA (Reuters) - Macedonian Prime Minister Zoran Zaev said on Thursday an agreement between Skopje and Athens to settle a decades old name dispute could be reached before a European Union summit in June. Macedonian Prime Minister Zoran Zaev gives a news conference at the EU-Western Balkans Summit in Sofia, Bulgaria, May 17, 2018. REUTERS/Stoyan Nenov Zaev met his Greek counterpart Alexis Tsipras on the sidelines of the EU-Western Balkans summit in Sofia. “We have discussed one (specific) solution to the name dispute that could be acceptable for both sides, but we need to have further discussions in our countries,” Zaev told reporters in Sofia. Macedonia’s NATO and EU accession process has been blocked by Greece which disputes the former Yugoslav republic’s name, saying it implies a territorial claim over its northern province with the same name. Reporting by Ivana Sekularac; Editing by Renee maltezou

https://uk.reuters.com/article/uk-macedonia-greece-name/macedonian-pm-sees-solution-to-name-dispute-with-greece-in-june-idUKKCN1II1OB

London underground drivers to hold two days of strike in June: union

May 21, 2018 / 11:31 AM / Updated 16 minutes ago London underground drivers to hold two days of strike in June: union Reuters Staff 1 Min Read LONDON (Reuters) - London commuters will face major disruption next month after the train divers’ union said on Monday it would stage two 24-hour strikes on the underground rail line which serves the Canary Wharf financial district. An Underground tube sign is seen alongside a clock on London King's Cross railway station, London, Britain, January 26, 2018. REUTERS/Peter Cziborra/Files Drivers on the Jubilee Line will walk out on June 6 and 14 over the imposition of new timetables, the Rail, Maritime and Transport Workers (RMT) union said. “Drivers are angry at the impact on work life balance and rightly see this move as the thin end of a very long wedge that could see processes and agreements unilaterally shredded by tube bosses,” said RMT General Secretary Mick Cash. The Jubilee Line connects Canary Wharf with the capital’s political heart at Westminster, as well as Bond Street in London’s main shopping district. Reporting by Ana de Liz; editing by Michael Holden

https://in.reuters.com/article/britain-railway-strike/london-underground-drivers-to-hold-two-days-of-strike-in-june-union-idINKCN1IM12L

Ireland may order banks to increase top-up capital buffer

May 31, 2018 / 2:38 PM / Updated 10 minutes ago Ireland may order banks to increase top-up capital buffer Reuters Staff 3 Min Read DUBLIN (Reuters) - Ireland’s central bank signalled that it might increase the amount of capital that banks must set aside as extra protection against risks from future crises, including Brexit. FILE PHOTO: Deputy Governor Sharon Donnery and Governor Philip R. Lane (R) speak at the publication of the Central Bank of Ireland's review of residential mortgage lending requirements in Dublin, Ireland November 23, 2016. REUTERS/Clodagh Kilcoyne Along with other central banks, Ireland introduced a countercyclical capital buffer (CCyB) in 2016 to force banks to build a cushion of capital in periods of economic normality that would make them less exposed during a downturn. The CCyB, calculated as a proportion of a bank’s core equity tier 1 (CET1) capital, has been set at zero since its introduction but can be increased to as high as 2.5 percent under parameters set by the central bank. Central Bank Deputy Governor Sharon Donnery said on Thursday that it was timely for the bank to consider wider aspects of its policy toolkit and the arguments for raising the CCyB early in the economic cycle were “compelling”. “While we remain a long distance away from the worst of the excesses in 2004-2007, it is important for us as policymakers to recognise the risks related to the stage of the economic and financial cycle. If necessary, we should also be willing to take actions to offset those risks,” Donnery said in a speech. “The arguments in favour of setting a positive CCyB sufficiently early in the cycle, to build in resilience and mitigate pro-cyclicality in a downturn, are compelling.” The bank’s next quarterly review of CCyB will take place at the end of June. Donnery said Ireland’s economy, Europe’s fastest growing for the last four years, continued to perform strongly but the relatively low unemployment rate, rising property prices and a turn in the credit cycle were indicative of potential emerging cyclical risks. She also pointed to external threats to the open economy, including the potentially significant challenges posed by neighbour Britain’s departure from the European Union and moves towards protectionism, particularly in the United States. The minimal impact on credit growth and economic activity, as well as the time needed for implementation and a lag effect in data relevant to decision making are all reasons in favour of an early activation of the CCyB, Donnery said. She also highlighted the example of other European countries such as Britain, Sweden and Lithuania who have introduced a positive CCyB rate. Reporting by Graham Fahy; Editing by Padraic Halpin and Susan Fenton

https://uk.reuters.com/article/uk-ireland-cenbank/ireland-may-order-banks-to-increase-top-up-capital-buffer-idUKKCN1IW20H

How Trump’s Pressure Influenced the NFL to Change Its Anthem Rules

738 COMMENTS President Donald Trump didn’t mince words last fall when he explained to Dallas Cowboys owner Jerry Jones that he wouldn’t relent in his criticism of NFL players who were kneeling during the national anthem to protest social injustice. “This is a very winning, strong issue for me,” Mr. Trump said in a phone call, according to a sworn deposition given by Mr. Jones and reviewed by The Wall Street Journal. “Tell everybody, you can’t win this one. This one lifts me.” Mr. Jones was deposed in a grievance filed against the National Football League by former San Francisco 49ers quarterback Colin Kaepernick, who contends that NFL teams have blackballed him over his anthem protests. A White House official said that Mr. Trump was advising Mr. Jones on what he believed would be good for the country and good for the sport. “The majority of the American people agree with the president, love our country, love our flag and believe it should be respected,” the official said. Nearly two years since Mr. Kaepernick’s initial protest, NFL owners last week voted to change league rules : Players on the field for the national anthem are required to stand, or their teams could face repercussions. The overhaul allows players to remain in the locker room for the anthem, which was previously banned, but it also permits teams to punish players that violate the new protocol. Related NFL Adopts New Anthem Policy to Quell Player Protests Trump’s Strange, Sports Radio-Style Weekend NFL Protests Spread as Trump’s Feud With Athletes Escalates How a Weakened ESPN Became Consumed by Politics “I brought it out,” Mr. Trump said of the issue in a Fox & Friends interview after the rule change was announced. “I think the people pushed it forward.” Depositions given by Mr. Jones and other owners indicate that Mr. Trump’s criticism pushed the league to shift its stance. League executives publicly repeated the NFL’s aim to stay out politics. But privately, they made political calculations in response to Mr. Trump’s repeated hammering of the issue. The controversy over anthem protests had already been raging for a year when Mr. Trump—at a stump speech in Alabama last September— said that if a hypothetical player knelt during the national anthem , his team’s owner should “get that son of a bitch off the field now.” On Twitter , he later encouraged owners to fire those players and suggested a boycott. “I was totally supportive of [the players] until Trump made his statement,” Stephen Ross, the Miami Dolphins’ owner and creator of programs advocating for social justice, said in his deposition. Noting that owners’ conversations with Mr. Trump were relayed during a league meeting, he said: “I thought he changed the dialogue.” Mr. Trump’s stance is a key point in Mr. Kaepernick’s grievance, which was filed last October. It alleges that the league and its 32 teams colluded to keep him unsigned last season because of his political views. Mr. Kaepernick, who ignited the anthem demonstrations in 2016 to draw attention to racial inequality and other social justice issues, has remained unsigned despite statistics superior to other quarterbacks who have gotten jobs. His grievance argues that Mr. Trump was an “organizing force in the collusion” because of the president’s relationships with various NFL owners, many of whom have backed him with campaign contributions. When the 2017 season began, only a handful of players were still kneeling. But Mr. Trump’s fiery comments in Alabama—just before the season’s third weekend—changed that. The following Sunday, players knelt en masse to directly rebuke the president. Many owners took a knee alongside their players. Mr. Jones, in a high-profile Monday night game Sept. 25, knelt with his players before the anthem—but they stood when it was played. At a stump speech in Alabama last September, Donald Trump said that if a hypothetical player knelt during the national anthem, his team’s owner should ‘get that son of a bitch off the field now.’ Photo: brendan smialowski/Agence France-Presse/Getty Images Publicly, the NFL fought back and touted the moment as a display of unity. Commissioner Roger Goodell called Mr. Trump’s comments “divisive.” The league’s chief spokesman, Joe Lockhart, called the president “out of touch” and said, “everyone should know, including the president, that this is what real locker-room talk is.” Behind the scenes, the kerfuffle rankled a league that was already grappling with declining ratings. Messrs. Ross, Jones and Bob McNair, the owner of the Houston Texans, both said in their depositions that they believed the protests were financially hurting their teams. Some owners were upset with the comments made by Mr. Lockhart, a former press secretary for President Bill Clinton, who they believed was furthering the feud with the president. Mr. Lockhart, who declined to comment, left the league after the season. “You cannot piss off a large percentage of your constituency,” Mr. Jones said in his deposition. Regarding Mr. Lockhart, he said: “I was proud to see him go.” Mr. Jones relayed his conversation with Mr. Trump in a meeting between owners to decide how to handle these protests, according to Mr. Ross’s testimony. Many owners disagreed with the president and his tactics. Mr. McNair, the Texans owner, said he didn’t like the players kneeling, but he thought Mr. Trump’s language was inappropriate. “I wished he hadn’t said it,” Mr. McNair said in his deposition. Representatives for Mr. McNair didn’t respond to requests for comment. After Mr. Trump’s comments, Mr. Ross met with various Dolphins players several times and asked them to stay off the field in lieu of protesting. Later, “they informed the coach that they couldn’t, in their conscience, stay in the tunnel. They wanted to go out.” Miami’s coach allowed them. And they did. Mr. Ross said Robert Kraft, the owner of the New England Patriots, also brought up a conversation with Mr. Trump with the owners. Mr. Kraft told the group he was friends with Mr. Trump, but thought the president was wrong in the way he handled this issue. Mr. Goodell, the NFL’s commissioner who at the time was at the center of a budding war among the owners over his contract extension, was also influenced by Mr. Trump’s comments, Mr. Ross said in his deposition. “We continue to abide by the confidentiality provision of the [collective bargaining agreement] and will not comment on the grievance,” an NFL spokesman said. This off-season brought both new opportunity and scrutiny. The league’s owners had two scheduled meetings, in March and May, to discuss an array of topics, including the anthem. At the same time, a former teammate of Mr. Kaepernick’s who also had taken a knee during the anthem, Eric Reid, was going unsigned. In May, Mr. Reid filed a collusion grievance against the league, like Mr. Kaepernick. The NFL Players Association also filed a grievance , saying a team violated league rules by asking Mr. Reid about his intentions during the anthem. Then, when the owners met last week in Atlanta, the host city for next year’s Super Bowl, they changed the rule. Mr. Jones declined to comment. In his deposition, which was taken before the rule change, he fought back against the idea that Mr. Trump reframed the conversation. “Let’s [not] give him that much credit,” he said. “But I recognize he’s the president of the United States.” —Louise Radnofsky contributed to this article. Write to Andrew Beaton at andrew.beaton@wsj.com

https://www.wsj.com/articles/how-trumps-pressure-influenced-the-nfl-to-change-its-anthem-rules-1527685321

Bunge files for IPO of sugar mills business in Brazil

May 15, 2018 / 3:59 PM / in a minute Bunge files for IPO of sugar mills business in Brazil Reuters Staff 1 Min Read May 15 (Reuters) - Global commodities trader Bunge Ltd said on Tuesday it has filed for a potential initial public offering of the company’s sugar milling business in Brazil, Bunge Açúcar & Bionergia, with the Brazilian Securities Commission. Bunge has tried to sell its eight Brazilian sugar and ethanol mills for four years, but a separate sale process has failed to attract firm interest from strategic or financial investors. On May 8, people familiar with the matter told Reuters that the company had hired banks to prepare for a listing. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Shounak Dasgupta)

https://www.reuters.com/article/bunge-brazil-ipo/bunge-files-for-ipo-of-sugar-mills-business-in-brazil-idUSL3N1SM646

Church and religion take back seat as a secular Ireland votes on abortion

May 10, 2018 / 12:05 PM / Updated 19 minutes ago Church and religion take back seat as a secular Ireland votes on abortion Conor Humphries , Emily G Roe 7 Min Read NENAGH/CORK, Ireland (Reuters) - Three decades after Ireland introduced one of the world’s only constitutional bans on abortion, the Church that was so pivotal in securing the law’s passage finds itself a minor player in the now mainly secular battle to repeal it. Pro-Life campaigners hold flags and posters ahead of a 25th May referendum on abortion law, in Wicklow, Ireland, May 8, 2018. Picture taken May 8, 2018. REUTERS/Clodagh Kilcoyne A vote on May 25 on whether to scrap the 1983 ban is the latest referendum to gauge just how much has changed in Ireland, once one of Europe’s most socially conservative and staunchly Catholic countries. Polls suggest the repeal camp is in the lead but the vote is much closer than three years ago when Ireland became the first country to back gay marriage in a national referendum. The one-in-five who are undecided are likely to decide the outcome, both sides say. As in the gay marriage case, the role of the Catholic Church this time is tricky: some feel the Church should be out in front robustly defending one of its core teachings. Others worry moralising by celibate priests may prove counter-productive. “The priests in a way are damned if they do and damned if they don’t,” leading anti-abortion activist Vicky Wall said as she campaigned in central Ireland against repeal. The leaflets she distributed around the rural market town of Nenagh mentioned religion just once, to address concerns that campaigners in favour of the ban were imposing their beliefs on the country. “Not true. You don’t have to be from any faith tradition to agree that human life should be protected... The right to life is first and foremost a human rights issue,” it read. Religion was front and centre when Ireland voted to ban abortion in a 1983 referendum described by columnist Gene Kerrigan as part of a “moral civil war” between conservative Catholics and progressive liberals for the country’s future. The eighth amendment to enshrine the equal right to life of mother and her unborn child was proposed by a coalition of Catholic groups who feared Ireland would follow the United States and United Kingdom into expanding access to abortion. Protestant churches felt the wording was too rigid, but it passed by a margin of two to one. The result showed the depth of Catholic influence in Ireland. But it also consolidated opposition when the implications of the ban became clear in a series of legal cases just as clerical abuse scandals rocked trust in the Church. Pro-Life campaigner Vicky Wall holds a poster ahead of a 25th May referendum on abortion law, in Wicklow, Ireland, May 8, 2018. Picture taken May 8, 2018. REUTERS/Clodagh Kilcoyne Ireland was transfixed by the 1992 case of a 14-year-old rape victim barred from leaving the country by judicial order after she told the police she was planning to get an abortion. The injunction was lifted by the Supreme Court on the grounds her life was deemed at risk by suicide. A referendum later that year enshrined the right of women to travel for an abortion, legalising a stream of more than 3,000 women who go to Britain every year for terminations. In 2012 a 31-year-old Indian immigrant died from a septic miscarriage after being refused an abortion that might have saved her life. The ensuing outcry led to legislation the next year to allow abortion when a woman’s life is in danger and, combined with criticism from the United Nations and European Court of Human Rights, helped build political pressure for a referendum to repeal the ban. CHURCH BATTLE With just over two weeks to go before the vote, the Church has only recently begun to get involved, putting up posters at a few churches and allowing some anti-abortion campaigners to speak from the pulpit during Mass. The small interventions have caused a rare public split. The liberal Association of Catholic Priests, which represents more than 1,000 priests in Ireland, called the sermons “inappropriate and insensitive” and said that they would be regarded by some as “an abuse of the Eucharist.” “As leadership of an association made up of men who are unmarried and without children of our own, we are not best placed to be in any way dogmatic on this issue,” it said. Slideshow (3 Images) Pastoral letters from some of the country’s 25 bishops have used increasingly emotive language in defence of the ban in recent days, however. “We must not be naive about what is at issue in this Referendum. It is a great struggle between light and dark, between life and death,” Bishop of Cloyne William Crean said in his letter. “I invite you to CHOOSE LIFE!” Campaigners on both sides say they are generally avoiding religion because they are afraid to alienate undecided voters and because it’s just not as relevant as it once was. Seventy-eight percent of Irish people identified as Catholic in the 2016 census, down from 92 percent in 1991; 10 percent said they had no religion and 3 percent were Protestant. But a survey by national broadcaster RTE in 2006 showed Mass attendance had dropped to 48 percent from 81 percent since 1990. In 2011 the Dublin diocese said as few as 18 percent of Catholics in the capital went to Mass every week. “I think telling voters to vote a particular way because God wants them to was never likely to be a winner for either campaign on either side,” said John McGuirk, spokesman for the Save the 8th umbrella group. He described the campaign as a “much more secular battle” than 1983. While religious iconography featured in one recent national anti-abortion rally, campaigners are focussing on the science of how the foetus develops in the stages of pregnancy. Yes campaigners, outfitted in the black sweatshirts with ‘Repeal’ in white that have become their symbol, talk about women’s rights and the medical dangers they say are created by the ban. “It’s about the fact that ... women don’t get a say in what they do with their bodies under the eighth amendment,” said 22-year-old Fay Carrol, a chef from Dublin who lives in Cork. Others argue that since abortion is a reality for Irish women - by travelling or by ordering pills online - it should be acknowledged and integrated safely into the health care system. “To require women to be dying to access termination of pregnancy... to demand that women who were raped carry their pregnancy to term, these are unacceptable risks and unacceptable situations,” said Rhona Mahony, Master of Dublin’s Holles Street Maternity Hospital. Even without the Church’s active involvement, some Yes campaigners are concerned that the conservatism linked to Ireland’s Catholic tradition still guides many voters’ views. “People are struggling with that legacy of centuries of Catholic Church teaching,” said veteran women’s rights campaigner Ailbhe Smyth. “I think this is, and will be, a very tight referendum.” Additional reporting by Padraic Halpin; Editing by Sonya Hepinstall

https://uk.reuters.com/article/uk-ireland-abortion/church-and-religion-take-back-seat-as-a-secular-ireland-votes-on-abortion-idUKKBN1IB1OI

Five Below, Inc. Announces First Quarter Fiscal 2018 Earnings Conference Call

PHILADELPHIA, PA, Five Below, Inc. (NASDAQ:FIVE), the trend-right, high-quality, extreme-value retailer for tweens, teens and beyond, today announced that its financial results for the first quarter of fiscal 2018 will be released after market close on Wednesday, June 6, 2018. The company will host a conference call at 4:30 p.m. Eastern Time to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at investor.fivebelow.com . A taped replay of the conference call will be available within two hours of the conclusion of the call and can be accessed both online and by dialing 412-317-0088 and entering the access code 10120727. The replay will be available until June 20, 2018. About Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We know life is way better when you’re free to “let go & have fun” in an amazing experience filled with unlimited possibilities. We make it easy to say YES! to the newest, coolest stuff because everything is just $5 and below across awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 650 stores in 32 states. For more information, please visit www.fivebelow.com and a store! Investor Contact: Five Below, Inc. Christiane Pelz 215-207-2658 christiane.pelz@fivebelow.com Source:Five Below, Inc.

http://www.cnbc.com/2018/05/23/globe-newswire-five-below-inc-announces-first-quarter-fiscal-2018-earnings-conference-call.html

BRIEF-Canopy Growth Enters Agreement To Acquire Outstanding Shares Of Research Arm Canopy Health Innovations

May 15 (Reuters) - Canopy Growth Corp: * CANOPY GROWTH ENTERS AGREEMENT TO ACQUIRE OUTSTANDING SHARES OF RESEARCH ARM CANOPY HEALTH INNOVATIONS * CANOPY GROWTH CORP - SHAREHOLDERS OF CHI WILL RECEIVE 0.3790 COMMON SHARES OF COMPANY FOR EACH COMMON SHARE OF CHI HELD * CANOPY GROWTH CORP - WILL ISSUE OPTIONS TO BUY SHARES OF CO FOR OPTIONS PREVIOUSLY ISSUED BY CHI AND CANOPY ANIMAL HEALTH * CANOPY GROWTH - CO, CHI, CANOPY ANIMAL HEALTH ENTERED INTO AGREEMENT PURSUANT TO WHICH CO WILL BUY UNOWNED INTEREST IN CHI, CANOPY ANIMAL HEALTH * CANOPY GROWTH - IN AGGREGATE, WILL ISSUE ABOUT 3 MILLION SHARES, HAVING VALUE OF $91.6 MILLION WITH OPTIONS HAVING “IN-THE-MONEY” VALUE OF $9.7 MILLION * CANOPY GROWTH CORP - CHI MANAGEMENT TEAM WILL REMAIN IN PLACE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/brief-canopy-growth-enters-agreement-to/brief-canopy-growth-enters-agreement-to-acquire-outstanding-shares-of-research-arm-canopy-health-innovations-idUSFWN1SM0OK

Etsy CEO on Amazon Handmade: It doesn't really threaten our business

4 Hours Ago | 01:22 When Amazon entered the handmade business, many investors thought Etsy was doomed. But Amazon's push into crafts hasn't derailed business at Etsy, which has seen its stock rise more than 100 percent since Amazon launched Amazon Handmade in 2015. For Etsy CEO Josh Silverman, who took the helm of the specialty retailer in May 2017, Etsy's ability to fend off Amazon stems from differing business priorities, he told CNBC on Wednesday. "If you think about the traditional strategic advantages of the mass e-tailers, it's about price, it's about convenience and it's about selection," Silverman told "Mad Money" host Jim Cramer. Companies like Amazon typically achieve their low prices by buying products in bulk — 1,000 or 10,000 at a time — and passing the discounts on to consumers. "Well, if you can buy 1,000 of anything, it doesn't belong on Etsy," Silverman said. "In terms of convenience, they warehouse everything in advance so they can ship it to you [the] next day. Well, a great many items on Etsy are made to order, so you simply can't warehouse them in advance." As for selection, Silverman emphasized that Etsy's pool of 1.9 million sellers produce some 50 million handmade items for the website. Although Amazon's total product count is in the hundreds of millions, "no one else comes close" in the handmade world, he said. "It's just not obvious that their advantages transfer directly into our space," Silverman said of mass e-tailers like Amazon. "If you're going to one place over and over again every day to buy all of the commodities of life, when you want something special, you want the antidote to that. You want something that feels different. And Etsy is all about special." Etsy's online ecosystem serves some 30 million buyers. Gross merchandise sales, or how many goods are sold and bought on Etsy's platform, grew to $1 billion in the most recent quarter. Silverman said on Wednesday that growing gross merchandise sales would benefit most specialty e-commerce retailers: "the more we can grow gross merchandise sales, the more everybody wins." Etsy has also been investing in improving its search and discovery capabilities, buying machine learning play Blackbird in 2016 and moving its infrastructure to the Google Cloud. But Etsy has another key mission: to make its platform easy-to-use for its sellers so they can focus on making products instead of "being businesspeople," the CEO said. Over 75 percent of Etsy's sellers run one-person businesses, about 87 percent are women and some 97 percent work from home. Almost every county in the United States is home to an Etsy seller, Silverman said, emphasizing how important ease of use is for his platform. "As the nature of work changes, as automation is changing the nature of work, creativity can't be automated. So the opportunity to take your creative power, your creative energy and turn that into a business we think is really important," Silverman said. "I think it's a movement that's happening across America and across the world." Watch Josh Silverman's full interview here: show chapters

https://www.cnbc.com/2018/05/09/etsy-ceo-on-amazon-handmade-it-doesnt-really-threaten-our-business.html

Harry Potter publisher Bloomsbury's revenue, shares hit 10-yr high

Harry Potter publisher Bloomsbury's revenue, shares hit 10-yr high 8:40am EDT - 00:53 Harry Potter publisher Bloomsbury has reported its highest annual revenue since 2007, when last of the seven-part original series written by J. K. Rowling was published, sending the company's shares to a 10-year high. As Sonia Legg reports, nearly 21 years after its debut, the Harry Potter series continued to drive sales for Bloomsbury, with special editions of the boy wizard's adventures boosting demand. Harry Potter publisher Bloomsbury has reported its highest annual revenue since 2007, when last of the seven-part original series written by J. K. Rowling was published, sending the company's shares to a 10-year high. As Sonia Legg reports, nearly 21 years after its debut, the Harry Potter series continued to drive sales for Bloomsbury, with special editions of the boy wizard's adventures boosting demand. //reut.rs/2KN4ztw

https://www.reuters.com/video/2018/05/22/harry-potter-publisher-bloomsburys-reven?videoId=429307946

UPDATE 1-Bank of Montreal's quarterly earnings beat market expectations

May 30, 2018 / 10:57 AM / Updated 5 minutes ago Bank of Montreal follows rivals with forecast-beating results Reuters Staff 2 Min Read TORONTO (Reuters) - Bank of Montreal ( BMO.TO ) on Wednesday reported second quarter results which were ahead of market expectations, helped by strong performances at its retail and wealth management businesses in Canada and the United States. FILE PHOTO: The logo of the Bank of Montreal (BMO) is seen on their flagship location on Bay Street in Toronto, Ontario, Canada March 16, 2017. REUTERS/Chris Helgren/File Photo The results mean that all of Canada’s biggest five banks have reported earnings which were ahead of expectations during the latest quarter. The banks have benefited from improved profit margins as a result of the Bank of Canada raising interest rates three times since July, offsetting slower mortgage growth after Canada’s banking regulator introduced stricter lending rules in January. Canada’s fourth biggest lender said earnings per share, excluding exceptional items, rose by 15 percent to C$2.20 in the quarter to March 31. Analysts had on average forecast earnings of C$2.12 per share, according to Thomson Reuters I/B/E/S data. Bank of Montreal’s net income, excluding one-off items, rose 13 percent to C$1.5 billion ($1.15 billion). The bank said net income, excluding one-off items, at its Canadian retail business increased by 11 percent to C$591 million and net income, excluding one-off items, at its U.S. retail business increased by 43 percent to C$359 million. Net income at the bank’s investment banking business fell by 8 percent to C$286 million. Bank of Montreal said it took a charge of C$192 million during the period, primarily relating to severance pay resulting from job cuts which are part of a drive by new Chief Executive Darryl White to improve efficiency at the bank. White said in April that he wanted a “lighter structure” at the bank. National Bank of Canada ( NA.TO ), Canada’s sixth biggest lender, on Wednesday reported earnings per share of C$1.44 in the second quarter, up 13 percent on the year before. Reporting by Matt Scuffham; editing by David Evans

https://www.reuters.com/article/us-bmo-results/bank-of-montreals-quarterly-earnings-beat-market-expectations-idUSKCN1IV1AC

Oral injuries lead to recall of Spam, other Hormel product

The U.S. Department of Agriculture is recalling more than 228,000 pounds of Spam and another product made by Minnesota-based Hormel after four consumers complained about metal objects in the food. The USDA's Food Safety and Inspection Service says the canned chicken and pork in question was produced in February at the company's plant in Fremont, Nebraska. The agency says "minor oral injuries" have been reported. The recall covers 12-ounce metal cans containing "SPAM Classic" with a "Best By" date of February 2021 date. Those products were shipped throughout the U.S. The production codes are F020881, F020882, F020883, F020884, F020885, F020886, F020887, F020888 and F020889. The recall also includes 12-ounce metal cans of "Hormel Foods Black-Label Luncheon Loaf" with a "Best By" date of February 2021. Those products were shipped only to Guam, with production codes F02098 and F02108.

https://www.cnbc.com/2018/05/29/oral-injuries-lead-to-recall-of-spam-and-another-hormel-product.html

EverGreene Architectural Arts Inc. Acquires Heritage Preservation Leader Conservation Solutions Inc. (CSI)

NEW YORK, May 23, 2018 /PRNewswire/ -- EverGreene Architectural Arts Inc., the nation's largest specialty contractor of architectural arts, announces today the acquisition of long standing partner Conservation Solutions Inc. (CSI). CSI is an internationally recognized heritage preservation firm providing conservation services to public and private owners of cultural heritage property throughout the United States, specializing in the treatment of cultural heritage, historic sites, and artistic works. By incorporating CSI into the EverGreene organization, the firm will expand its range of services in all areas of architectural conservation. EverGreene and CSI bring complementary teams with decades of collective experience. The combined group will provide clients with one point of contact for all conservation needs. EverGreene will continue to be led by Jeff Greene, AIC - Professional Associate, Founder and Chairman and Alan Weiner, President. CSI's Mark J. Rabinowitz and Joseph Sembrat, will both serve as Vice President, Conservation Services / Principal Conservator and will also serve on EverGreene's Management Team. The Principal Conservators are Fellows of the American Institute for Conservation (AIC). The company will continue to operate as EverGreene Architectural Arts Inc. The combined conservation practice from this date on will be known as Conservation Solutions. About EverGreene Architectural Arts Inc. Founded in 1978, EverGreene Architectural Arts Inc., the nation's largest specialty contractor of architectural arts, serves as the industry leader in historic preservation, restoration and conservation solutions, through its pre-construction, construction and new design services. EverGreene is headquartered in Brooklyn with offices in Chicago, Washington DC, Los Angeles and San Francisco. For more information visit: https://evergreene.com About Conservation Solutions Inc. CSI is a national leader in conservation, performing condition assessments, documentation, materials testing, and treatment services for the preservation of cultural heritage and historic sites, and artistic works. CSI's main office is located in the Metro Washington, DC area with additional satellite locations throughout the US. For more information visit: https://conservationsolutionsinc.com For press inquiries, please contact: Katherine DeMercurio Marketing & Communications Manager EverGreene Architectural Arts marketing@evergreene.com T: 212-244-2800 View original content: http://www.prnewswire.com/news-releases/evergreene-architectural-arts-inc-acquires-heritage-preservation-leader-conservation-solutions-inc-csi-300653055.html SOURCE EverGreene Architectural Arts

http://www.cnbc.com/2018/05/23/pr-newswire-evergreene-architectural-arts-inc-acquires-heritage-preservation-leader-conservation-solutions-inc-csi.html

Mumbai's lunch-carriers choose wedding gifts for Harry and Meghan

May 18, 2018 / 6:37 PM / Updated an hour ago Mumbai's lunch-carriers choose wedding gifts for Harry and Meghan Reuters Staff 3 Min Read MUMBAI (Reuters) - A group of Mumbai’s dabbawalas - the Indian city’s famed lunch delivery men - were out shopping on Friday for a traditional sari dress and a kurta jacket as a wedding gift for Britain’s Prince Harry and his American fiancee Meghan Markle. Students of an art school give finishing touches to a painting created to commemorate the royal wedding of Britain's Prince Harry and his fiancee Meghan Markle, in Mumbai, India May 18, 2018. REUTERS/Francis Mascarenhas Prince Harry and Markle will marry on May 19 in a ceremony in Windsor that is attracting huge attention around the world. Back in 2005, Harry’s father Prince Charles invited some dabbawalas from Mumbai to his wedding with Camilla Parker Bowles. One of them was Sopan Mare. “At the time of Prince Charles’ wedding, the royal family treated us like family. As Prince Harry and Meghan Markle wed, it almost seems like it’s a wedding in our family,” said Mare, who helped choose the gifts for Harry and Meghan in one of the city’s fabric shops. Dabbawalas, also known as tiffin carriers, purchase a saree and Kurta, traditional Indian clothing, as gifts for Britain's Prince Harry and Meghan Markle to mark the occasion of their wedding, in Mumbai, India, May 17, 2018. Picture taken May 17, 2018. REUTERS/Danish Siddiqui Subhash Talekar, a spokesman for the Mumbai Dabbawalas’ Association, said they would send a traditional sari and a long, close-fitting kurta jacket from the state of Maharashtra, of which Mumbai is the capital. At the Gurukul School of Art in central Mumbai, children were painting posters of Harry, Markle and Queen Elizabeth. Dabbawalas or tiffin carriers purchase a saree, a traditional Indian women's cloth and Kurta as gifts for Britain's Prince Harry and Meghan Markle on the occasion of their wedding, in Mumbai, India, May 17, 2018. REUTERS/Danish Siddiqui/File Photo Even more thrilled were the women from the Mumbai-based NGO Myna Mahila Foundation, one of a handful of charities picked by the couple to attend the wedding. “We have been preparing in terms of what will we be wearing and what we will be giving,” said founder Suhani Jalota, whose organization aims to break taboos around menstrual hygiene in India by offering women access to low-cost sanitary pads. Jalota said her NGO planned to give the couple calligraphic portraits because Markle, who visited the foundation last year, had been a calligraphy artist. Elsewhere, PETA animal rights activists in India said they had given Prince Harry and Markle a bull, rescued after he was injured, and called him “Merry” - a hybrid of the couple’s names. “Prince Harry and Meghan Markle now have a one-ton bull to call their own. Rescuing Merry is an ideal wedding present for a couple who want their day celebrated with charitable works and contributions,” PETA founder Ingrid Newkirk said in a statement. Reporting by Rajendra Jadhav and Sankalp Phartiyal; Additional reporting by Abhirup Roy, Francis M. and Euan Rocha; Writing by Raissa Kasolowsky; Editing by Kevin Liffey

https://uk.reuters.com/article/us-britain-royals-world-india/mumbais-lunch-carriers-choose-wedding-gifts-for-harry-and-meghan-idUKKCN1IJ2HZ

UPDATE 1-Iran signs oil contract with Pergas to develop Keranj field

LONDON (Reuters) - Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran. National Iranian South Oil Company (NISOC) signed a so-called heads of agreement (HOA) with London-based Pergas, the oil ministry’s news agency SHANA said. The consortium will aim to produce 655 million barrels of oil from the Keranj field in Khuzestan province, southwest Iran, over the next 10 years, SHANA said. British Ambassador to Tehran Rob Macaire and Pergas managing director Colin Rowley were present at the signing ceremony in Tehran, it added. “We hope that the UK government ... endorses the agreement,” Iranian oil minister Bijan Zanganeh was Quote: d as saying by SHANA. Zanganeh added that he expected European countries to make up for the U.S. “betrayal” of the nuclear deal, and support Western companies that sign deals with Tehran. The agreement was announced on the same day that French energy group Total ( TOTF.PA ) said it would pull out of a multibillion-dollar gas project in Iran if it couldn’t secure a waiver from U.S. sanctions. Zanganeh said Tehran would spare no efforts to maintain its oil production and exports at current levels, and predicted it would overcome the difficulties resulting from the U.S. withdrawal from the nuclear deal. “The current situation will pass and Iran will emerge as a winner,” he was Quote: d as saying. “Iran is a peace-seeking nation, and honors its contracts,” he added. Zanganeh also said oil prices at $60-$65 per barrel would be “logical” and that he believed the United States was trying to keep prices inflated to support U.S. shale oil growth. “Despite what Americans say that they do not support high oil prices, the high prices of oil can justify shale production, increase investment and create more jobs in the United States,” Bijan Zanganeh was Quote: d as saying by Mehr news agency. Reporting by Bozorgmehr Sharafedin; Editing by Richard Balmforth and Mark Potter

https://www.reuters.com/article/us-oil-iran-contract/iran-signs-oil-contract-with-pergas-to-develop-keranj-field-idUSKCN1IH2NZ

China Automotive Systems Establishes Joint Venture With KYB Investment Co For EPS Systems

May 3 (Reuters) - China Automotive Systems Inc: * CHINA AUTOMOTIVE SYSTEMS ESTABLISHES JOINT VENTURE WITH KYB (CHINA) INVESTMENT CO., LTD. FOR EPS SYSTEMS * CHINA AUTOMOTIVE SYSTEMS - NEW JV, HUBEI HENGLONG KYB AUTOMOBILE ELECTRIC STEERING SYSTEM, IS WITH JAPAN KYB CO LTD’S KYB (CHINA) INVESTMENT CO * CHINA AUTOMOTIVE SYSTEMS - HUBEI KYB PLANS TO INVEST ABOUT RMB 960 MILLION IN JV AND HAVE REGISTERED CAPITAL OF RMB 320 MILLION * CHINA AUTOMOTIVE SYSTEMS - JV’S BOARD WILL CONSIST OF 5 DIRECTORS, 3 OF WHOM WILL BE APPOINTED BY CAAS INCLUDING CHAIRMAN * CHINA AUTOMOTIVE SYSTEMS - CO’S PARTICIPATION WILL BE RMB 213.12 MILLION FOR 66.6% OWNERSHIP, FUNDED BY IN-KIND AND CASH Source text for Eikon: Our

https://www.reuters.com/article/brief-china-automotive-systems-establish/brief-china-automotive-systems-establishes-joint-venture-with-kyb-investment-co-for-eps-systems-idUSFWN1SA0KI

Rolls-Royce says tripling capacity to fix Trent 1000 engine problems

LONDON, May 29 (Reuters) - Britain’s Rolls-Royce said on Tuesday it was tripling capacity to fix problems with its Trent 1000 engines that have left some of Boeing’s 787 Dreamliner planes grounded. Rolls-Royce will set out full details on how it intends to speed up necessary inspections and repairs on Wednesday, a spokesman for the engine manufacturer said, confirming a development first reported by the Financial Times. Turbine blades in the Trent 1000 package C engines are not lasting as long as expected, requiring extra inspections and meaning airlines are having to ground some aircraft. Air New Zealand and Virgin Atlantic are among the airlines affected. (Reporting by Sarah Young, writing by David Milliken, Editing by Robin Pomeroy)

https://www.reuters.com/article/rolls-royce-hldg-trent1000/rolls-royce-says-tripling-capacity-to-fix-trent-1000-engine-problems-idUSL5N1T06OQ

Barings Global Short Duration High Yield Fund Announces May Monthly Distribution of $0.1482 per Share

CHARLOTTE, N.C., May 22, 2018 (GLOBE NEWSWIRE) -- Barings Global Short Duration High Yield Fund (the “Fund”) (NYSE:BGH) announced its monthly dividend for May 2018 of $0.1482 per share, payable on June 1, 2018. Based on the Fund’s April 30, 2018 share price of $18.81 per share, the distribution represents an annualized yield of 9.45% per share. Based on current projections through the payable date, the Fund expects that this distribution will be comprised of net investment income. In addition, the Fund announced estimated monthly distributions of $0.1482 per share for June 2018 and July 2018. The distribution schedule appears below: Month Ex-Date Record Date Payable Date Amount 1 May 05/21/2018 05/22/2018 06/01/2018 $0.1482 June 06/20/2018 06/21/2018 07/02/2018 $0.1482 July 07/20/2018 07/23/2018 08/01/2018 $0.1482 The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain or return of capital. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. The Fund is a non-diversified, closed-end management investment company that is managed by Barings LLC. The Fund invests primarily in short-duration, global high yield bonds with the objective of seeking as high a level of current income as Barings determines is consistent with capital preservation, with a secondary objective of capital appreciation. The Fund expects to maintain a weighted average portfolio duration, including the effects of leverage, of 3 years or less. Cautionary Notice: Certain statements contained in this press release may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date in which they are made and which reflect management’s current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the fund's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the fund's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise. Because the Fund is newly organized, its shares have a limited history of public trading. Investors should read the Fund’s prospectus and consider carefully the risks, investment objectives, charges and expenses associated with an investment in the Fund’s common shares. For a copy of the prospectus, please contact your securities representative. About Barings Barings is a $305 billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 associates and offices in 16 countries. Learn more, at www.barings.com . Contacts: Kelly Smith, Media Relations, (980) 417-5648, kelly.smith@barings.com Brian Whelan, Corporate Communications, (980) 417-7700, brian.whelan@barings.com *As of March 31, 2018. 1 Amounts represent estimates for June and July. Source: Barings

http://www.cnbc.com/2018/05/22/globe-newswire-barings-global-short-duration-high-yield-fund-announces-may-monthly-distribution-of-0-point-1482-per-share.html

Cona Resources Announces Borrowing Base Redetermination And Amendments To Its Credit Facility

May 14 (Reuters) - Cona Resources Ltd: * CONA RESOURCES LTD. ANNOUNCES BORROWING BASE REDETERMINATION AND AMENDMENTS TO ITS CREDIT FACILITY * CONA RESOURCES LTD - BORROWING BASE AND COMMITMENT AMOUNT OF CREDIT FACILITY WAS REDUCED TO $300 MILLION FROM $325 MILLION * CONA RESOURCES LTD - REVOLVING PERIOD OF CREDIT FACILITY WAS EXTENDED TO JULY 12, 2019 AND MATURITY DATE TO JULY 12, 2020 Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Reuters Plus Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

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SteadyMed Provides Corporate Update and Reports First Quarter 2018 Financial Results

SAN RAMON, Calif., May 15, 2018 (GLOBE NEWSWIRE) -- SteadyMed Ltd. (Nasdaq:STDY), a specialty pharmaceutical company focused on the development of drug product candidates to treat orphan and high-value diseases with unmet parenteral delivery needs, today provided a corporate update and announced its financial results for the first quarter ended March 31, 2018. Summary Corporate Update: On April 29, 2018, SteadyMed and United Therapeutics Corporation (NASDAQ:UTHR) entered into a definitive merger agreement under which United Therapeutics will acquire SteadyMed for $4.46 per share in cash at closing and an additional $2.63 per share in cash upon the achievement of a milestone related to the commercialization of Trevyent®. The transaction, including the $75 million in contingent consideration, is valued at $216 million. The validation and verification work on our lead drug product candidate Trevyent®, , which is in development for the treatment of Pulmonary Arterial Hypertension (PAH), is ongoing; the Trevyent NDA remains on track for resubmission to the FDA before the end of 2018. In March 2018, SteadyMed received a notice of allowance for U.S. Patent Application No. 14/456,416. The patent provides broad coverage for our PatchPump Drug Delivery Device, including its ECell displacement generating battery and prefilled drug reservoir. “We are pleased that our progress towards NDA re-submission for Trevyent is on track for later this year,” said Jonathan Rigby, President and Chief Executive Officer of SteadyMed. “In addition, we believe that the proposed merger with United Therapeutics will help us realize our commitment to bring Trevyent to market to improve the lives of patients with PAH.” First Quarter 2018 Financial Results Compared to First Quarter 2017 Financial Results SteadyMed recorded no licensing revenues in the first quarter of 2018, compared to revenues of $315,000 in the first quarter of 2017. In the fourth quarter 2017, SteadyMed completed the recognition of revenue associated with the $3 million upfront payment received from Cardiome in 2015. For the first quarter ended March 31, 2018, SteadyMed reported a net loss of $10.4 million, or $0.39 per share, compared to a net loss of $18.6 million, or $0.92 per share for the first quarter ended March 31, 2017. The current quarter's calculation of loss per share is based on 26,572,719 weighted-average shares outstanding compared to 20,139,826 shares outstanding in the prior-year period. Total operating expenses for the first quarter ended March 31, 2018 were $6.1 million, compared to $6.0 million for the quarter ended March 31, 2017. The increase in operating expenses was primarily attributable to an increase in general and administrative (G&A) expenses offset by decreases in research and development (R&D) expenses and sales and marketing (S&M) expenses. R&D expenses for the first quarter of 2018 were $3.9 million, compared to $4.1 million for the first quarter of 2017. The decrease in R&D expenses was primarily due to a decrease in use of sub-contractor services, and materials for Trevyent and our other development programs. G&A expenses for the first quarter of 2018 were $2.0 million, compared to $1.3 million for the first quarter of 2017. The increase in G&A expenses was primarily due to an increase in legal expenses related to the recently-announced merger agreement with United Therapeutics. S&M expenses for the first quarter of 2018 were $0.1 million compared to $0.6 million for the first quarter of 2017. The decrease in S&M was primarily due to decreases in consulting fees and salary expenses associated with the scaling back of the pre-commercialization plan for Trevyent in response to the refusal to file letter from the FDA for the Trevyent NDA. In the first quarter of 2018, the Company recorded $4.2 million in financial expense, primarily as a result of the change in the fair value of the warrants issued in the April 2017 and August 2016 private placements compared to $12.7 million in financial expense for the first quarter of 2017 primarily as a result of the change in the fair value of the warrants issued in the August 2016 private placement. As of March 31, 2018, SteadyMed had cash and cash equivalents of $26.6 million. About SteadyMed SteadyMed Ltd. is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs. The company's lead drug product candidate is Trevyent®, a development stage drug product that combines SteadyMed's PatchPump® technology with treprostinil, a vasodilatory prostacyclin analogue to treat pulmonary arterial hypertension (PAH). SteadyMed intends to commercialize Trevyent in the U.S. and has signed an exclusive license and supply agreement with Cardiome Pharma Corp. for the commercialization of Trevyent in Europe, Canada and the Middle East. SteadyMed has offices in San Ramon, California and Rehovot, Israel. For additional information about SteadyMed please visit www.steadymed.com . Forward Looking Statements This press release contains within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements about the company's ability to advance its development-stage product candidates, including Trevyent, statements about the potential benefits of our development-stage product candidates and our PatchPump technology, statements about the potential benefits of orphan drug designation, and statements about our ability to obtain and maintain regulatory approval of our development-stage product candidates. Forward-looking statements reflect the company's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially. Risks and uncertainties include, but are not limited to, the risk that Trevyent does not demonstrate clinical superiority to existing parenteral treprostinil products, that Trevyent is not approved for commercialization by the FDA, that Trevyent is not granted orphan drug exclusivity, and the risk that drug development involves a lengthy and expensive process with uncertain outcome. The risks, uncertainties and assumptions referred to above are discussed in detail in our reports filed with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q filed on May 15, 2018. The company does not undertake to publicly update or revise any to reflect events or circumstances that may arise after the date hereof except as may be required by law. Contacts: Marylyn Rigby Senior Director, Investor Relations and Marketing 925-272-4999 mrigby@steadymed.com CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS U.S. dollars in thousands (except share data) Three months ended March 31, 2018 2017 Unaudited Licensing Revenues $ 0 $ 315 Operating expenses: Research and development $ 3,921 $ 4,101 Sales and marketing 136 588 General and administrative 2,023 1,316 Total operating expenses 6,080 6,005 Total operating loss 6,080 5,690 Financial expense, net 4,159 12,721 Loss before taxes on income 10,239 18,411 Taxes on income 116 148 Net loss $ 10,355 $ 18,559 Net loss per share: Basic and diluted net loss per Ordinary Share $ 0.39 $ 0.92 Weighted average number of Ordinary Shares used in computing basic and diluted net loss per share 26,572,719 20,139,826 CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands March 31, 2018 December 31, 2017 Unaudited Assets: Cash and cash equivalents $ 26,639 $ 32,453 Property and equipment, net 5,798 5,307 Other assets 728 731 Total assets $ 33,165 $ 38,491 Liabilities and shareholders' equity (deficit): Current liabilities 3,190 2,756 Liability related to warrants 15,544 11,343 Other non-current liabilities 596 581 Shareholders' equity 13,835 23,811 Total liabilities and shareholders' equity $ 33,165 $ 38,491 Source: SteadyMed Therapeutics

http://www.cnbc.com/2018/05/15/globe-newswire-steadymed-provides-corporate-update-and-reports-first-quarter-2018-financial-results.html

China confirms vice Premier Liu He will go to U.S. to discuss trade

BEIJING (Reuters) - China’s commerce ministry said on Wednesday Vice Premier Liu He will go to the United States to discuss trade at an appropriate time, accepting an invitation from U.S. Treasury Secretary Steven Mnuchin. Liu He, vice chairman of the National Development and Reform Commission (NDRC), pauses after casting his ballot during the seventh plenary session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China March 19, 2018. REUTERS/Jason Lee China and U.S. teams are in close communication, the ministry said in a statement on its website. Reporting by Beijing Monitoring DESK

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BRIEF-The Children’S Place Reports Q1 Earnings Per Share $1.78

May 17 (Reuters) - Childrens Place Inc: * THE CHILDREN’S PLACE REPORTS FIRST QUARTER 2018 RESULTS * Q1 SALES $436.3 MILLION VERSUS I/B/E/S VIEW $444 MILLION * Q1 EARNINGS PER SHARE VIEW $2.21 — THOMSON REUTERS I/B/E/S * REAFFIRMS FY 2018 ADJUSTED EARNINGS PER SHARE VIEW $7.95 TO $8.20 * GENERATED COMPARABLE RETAIL SALES OF NEGATIVE 1.8% IN Q1 * 2018 GUIDANCE ASSUMES A COMPARABLE RETAIL SALES INCREASE OF APPROXIMATELY 3.5% TO 4.5% * FY EARNINGS PER SHARE VIEW $8.16, REVENUE VIEW $1.91 BILLION — THOMSON REUTERS I/B/E/S * SEES HIGH SINGLE DIGIT COMPARABLE RETAIL SALES INCREASE IN Q2 Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

https://www.reuters.com/article/brief-the-childrens-place-reports-q1-ear/brief-the-childrens-place-reports-q1-earnings-per-share-1-78-idUSASC0A2QQ

French Labour minister summoned over PR contract

May 8, 2018 / 2:27 PM / in 2 hours French Labour minister summoned over PR contract Reuters Staff 2 Min Read PARIS (Reuters) - French judges have summoned Labour Minister Muriel Penicaud as part of an investigation into suspected financial misdemeanours by a state body she headed, a source close to the minister said on Tuesday. French Labour Minister Muriel Penicaud speaks during an interview with Reuters at her office in Paris, France, November 15, 2017. Picture taken November 15, 2017. REUTERS/Gonzalo Fuentes - RC1F8CD18A60 Prosecutors launched a probe last year into the way a party promoting France at a consumer electronics fair in Las Vegas in 2016 was organised. President Emmanuel Macron was present at the party in his then-role as economy minister. Penicaud will be questioned under caution on May 22, the source said, confirming a report by satirical newspaper Le Canard Enchaine. The procedure does not mean she will be put under formal investigation. Macron has said any minister placed under formal investigation by magistrates must resign, although such investigations do not automatically lead to trial. There was no open tender to organise the party for Business France, the body Penicaud led at the time. The job was performed by the Havas public relations agency. Havas has said it had an 18-month contract with the state agency which allowed it to do the job without a public tender. Penicaud said last year that she was the one who raised the alarm when an audit exposed a potential problem. Reporting by Elizabeth Pineau; writing by Sybille de La Hamaide; editing by Andrew Roche

https://uk.reuters.com/article/uk-france-politics-macron-vegas/french-labour-minister-summoned-over-pr-contract-idUKKBN1I91XZ

Japanese marketplace app Mercari launches $1.1 billion IPO

TOKYO (Reuters) - Flea market app operator Mercari Inc has received approval for an initial public offering in Tokyo that will raise up to $1.1 billion, a regulatory filing showed on Monday, giving investors a rare chance to buy into a Japanese unicorn. Mercari, which offers a popular smartphone app that allows people to trade used items online, will list on the Tokyo Stock Exchange’s Mothers market on June 19, the filing with the Finance Ministry showed. At Mercari’s indicative price range of 2,200-2,700 yen per share, the company will sell up to 117.6 billion yen ($1.1 billion) in shares and have a market value of 365.4 billion yen ($3.3 billion) upon listing. The final price will be determined on June 11. Founded in 2013, Mercari is a rare example of a unicorn - a startup with a valuation above $1 billion - in a country that is known for successful giant corporations but lacks a start-up scene. The company is widely expected to use the funds from its IPO to finance overseas expansion. Gaining traction in the United States is crucial for Mercari’s global success, its chief executive told Reuters last month. [nL4N1RE09P] Mercari’s U.S. business is headed by former Facebook Inc ( FB.O ) executive John Lagerling, who was hired last year. The app has been downloaded over 30 million times in the United States, versus 60 million in Japan. Reporting by Chris Gallagher and Thomas Wilson; Editing by Himani Sarkar

https://www.reuters.com/article/us-mercari-ipo/japanese-marketplace-app-mercari-launches-1-1-billion-ipo-idUSKCN1IF0L5

Novartis top lawyer exits over payment to Trump lawyer

ZURICH (Reuters) - Novartis’s top lawyer quit on Wednesday over a $1.2 million contract he co-signed with U.S. President Donald Trump’s personal attorney, a deal the Swiss drugmaker’s ex-CEO also said was a mistake. FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann/File Photo The contract with Michael Cohen’s Essential Consultants, the same firm used to pay porn star Stormy Daniels, has distracted Novartis’s efforts to improve its image after a series of missteps. Current CEO Vas Narasimhan also said the contract was a major mistake at a meeting with investors in Basel on Wednesday and said Novartis was developing a principles-, not rules-based system to help avert corruption and guide employees’ behaviour. “There will always be a way around the rule,” Narasimhan told investors. “Whereas if you ask the question, ‘Is this the right thing to do, are you comfortable with this being on the front page of the newspaper?’... that’s going to help get us to a better place.” Since 2015, Novartis has paid out hundreds of millions in settlements and fines as a result of kickback allegations in South Korea, the United States and China and faces an investigation of alleged bribery in Greece. A trial for another U.S. kickbacks case is scheduled for 2019. Former Novartis CEO Joe Jimenez, who had co-signed the contract with Cohen’s alongside general counsel Felix Ehrat, said there should have been more due diligence and he should have tried to fire Cohen in March 2017. “We wanted to terminate the contract at that point, but in the end we decided there would be almost-certain litigation,” he said. “This was the mistake. We should have just ended our relationship at that point, regardless of what it was going to cost us.” Novartis had been seeking help understanding the Trump administration’s thinking and was referred to Cohen by a third party, Jimenez told Reuters. He did not name the person. U.S. lawmakers have demanded Novartis and AT&T, which also made payments to Cohen’s firm, provide details. Ron Wyden, the top Democrat on the Senate Finance Committee, has initiated an investigation. CULTURE SHIFT Ehrat, Novartis’s general counsel since 2011, had been expected to leave within the next 1-1/2 years but now will be done June 1 following his resignation, while Jimenez stepped down on Feb. 1 and was replaced by Narasimhan. Ehrat, who said he was quitting to take responsibility for the Cohen contract, will be replaced by chief ethics officer Shannon Klinger who Narasimhan elevated to the executive committee this year as he made cultural change a priority. Novartis said she had not been aware of the Cohen contact. Novartis has also said Narasimhan had nothing to do with the Cohen contract and Chairman Joerg Reinhardt said that the board of directors was not aware of it at the time it was signed. Narasimhan spent much of the Basel investor meeting reassuring analysts and shareholders that cultural change was a top priority. Novartis shareholders have urged Narasimhan to exert more "moral influence" over perceived ethical shortcomings that Jimenez in 2016 blamed on a "results-oriented" sales culture and some bad actors. [ reut.rs/2Ipdn83 ] Klinger cited changes to bonus schemes for Novartis’s drug sales force that are meant to avoid potential for corruption. “Any one sales rep can have no more than 40 percent (bonus), so we think that by doing this we have also embedded our values and behaviours for our sales reps,” she said. DRUG PIPELINE In his presentation to investors, Narasimhan highlighted a dozen medicines in the group’s pipeline that Novartis believes have $1-billion-plus annual sales potential, placing it on track to increase sales and expand profit margins through 2022. The company will also consider pruning struggling operations, including the Sandoz generics unit’s U.S. pills business that has been hit by price pressure. It is also reviewing the future of the Alcon eye surgery division, reiterating that this could include a possible spin-off in early 2019. Priority areas for M&A include cancer medicine, cell and gene therapies, liver disease and digital and data science. Narasimhan made a big bet on gene therapy with an $8.7 billion deal to buy AveXis last month. But Novartis is unlikely to mimic deals such as Takeda’s $62 billion takeover of Shire that are transforming the pharmaceuticals industry, Chief Financial Officer Harry Kirsch said. “I don’t think there is a domino effect if some others were to merge or acquire large scale, that our hands would be forced in any way,” Kirsch told analysts. Additional reporting by Ben Hirschler in London; Editing by Michael Shields/Louise Heavens/Alexander Smith/Jane Merriman Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Reuters Plus Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://in.reuters.com/article/usa-trump-daniels-novartis/novartis-top-lawyer-exits-over-payment-to-trump-lawyer-idINKCN1IH0EV

Google broke up a Vietnamese con scheme after an employee was scammed buying a Bluetooth headset

When a Google executive found a high-end Bluetooth headset selling at a steep discount on the company's shopping site earlier this year, he didn't consider that the deal may have been too good to be true. He ordered the product and waited. And waited. The expected delivery date passed. He tried calling the website's customer service number. It was disconnected. The headset never arrived. The money was lost. In reality, the merchant wasn't based in the U.S., as its website indicated. Google Shopping had sent the buyer about 8,000 miles away, to a bogus seller in Vietnam who took the Google employee's credit card information with no intention of ever sending out a headset. The prospective buyer kicked the case over to his co-workers to start an investigation. But instead of simply banning the bad actor from listing new products, Google Shopping's trust and safety team initiated a global probe that ultimately tracked down 5,000 merchant accounts wrapped up in a sophisticated scheme to defraud users. "I think we caught them right at the tip of when they were trying to scale up," Saikat Mitra, Google Shopping's director of trust and safety, told CNBC. The story, which Mitra is sharing publicly for the first time, reflects Google's never-ending battle against scams, a fight that requires engineers and their increasingly sophisticated machine learning tools. It also illustrates the risks that consumers face as Google aggressively tries to win back product searches from Amazon and stay relevant in the future of e-commerce. Although Google Shopping may look like a marketplace, it really isn't. Amazon and eBay operate shopping platforms that connect sellers with buyers and offer protections like money-back guarantees. Google, by contrast, sends shoppers off its site after they click on an item, and thus has no visibility into what happens after the transaction. Nor does Google take responsibility for scams. If you order something from a sketchy website you found through Google Shopping and don't pay through a service like PayPal , which has its own robust fraud checks, you're likely out of luck. Like Google's dominant search engine, Google Shopping is an advertising site. If you want a new camera, a pair of Comme des Garçons sneakers or a sequin backpack, and you start your search on Google , you'll be greeted with a big, scrollable list of ads. If you then click on Google's "Shopping" tab, you'll be directed to a more robust page where you can search products by price, color, or size. If you didn't notice the little "Sponsored" messages tag in the corner, you might not recognize all these listings as advertisements. That model keeps Google in the high-margin business of online ads and away from the costly operations of holding inventory and managing a massive logistics and shipping network. (Google also has a separate shopping product , called Express, that only partners with specific retailers and does guarantee purchases.) E-commerce is a market Google can't afford to lose. Digital agency Merkel said its clients increased spending on Google Shopping by 40 percent in the first quarter from a year earlier, and ad impressions on the shopping site surged 47 percent. Shopping is becoming even more important as the battle for users turns to voice-controlled speakers in the home, a market where the Amazon Echo has an early lead over Google Home. Without owning and operating the platform, Google has less control over who sets up shop. For a business to create a Google Shopping ad, it has to follow a variety of policies meant to keep consumers safe. But, as the Bluetooth headset example illustrates, there's still room for fraudsters to game the system. What Google's doing to keep its platform safe That's where Mitra has work to do. Once his team was made aware of the Google employee's experience, it got to work using advanced data algorithms and looking for subtle connections between merchant accounts, Mitra said. Through machine learning, Google discovered a cluster of merchants with similar data and online habits. More than 5,000 well-designed websites that looked like they belonged to U.S. based companies were actually being run by a ring of scammers in Vietnam. Google booted those merchants from its ads product and was able to recognize when members of the same group tried to rejoin the platform. Mitra's team determined that the merchants had likely been preparing sleeper accounts for at least six months to make them look legitimate. When one shop got rejected, there were many more that would be on standby to fill the ranks. "The coordination among them, and their persistence and desperation to get back on the system was stark," Mitra says. "That was really unique." Scamming is nothing new to the internet, particularly when it comes to commerce. Counterfeit goods are a common problem across all platforms and something that Amazon has struggled with for years . In the past it was common for people to order goods through Google Shopping only to receive shoddily made products that looked nothing like the pictures. Those practices were hard to police, Mitra says, but Google addressed the issue by integrating seller reviews and requiring that all merchants meet a minimum review score. show chapters Amazon sellers are not always trustworthy, but this new tool will expose them before you buy 1:35 PM ET Fri, 9 March 2018 | 01:56 Today, Google rejects about a quarter of the merchant applications that it receives. Once inventory is live, it continues to check against every shop's images, text, behaviors, or activity spikes. With millions of merchants and billions of product offers, Google relies on a combination of heuristics, artificial intelligence and human reviewers, who train the AI models and also manually review reports of fraud . "Our mission is to make a platform like Google Shopping so safe, that people will feel like, 'OK, I found this through Google Shopping so I trust it,'" Mitra says. As Google pushes deeper into commerce, the company has to simultaneously focus on growth and competition with Amazon while also preserving the trust its built up with consumers through search and other ad products. A November 2017 Survata study found that people trusted Google advertising more than that on any other platform. That means when a user puts money down for a Bluetooth headset, it needs to arrive. Especially since Google won't be offering any refunds.

https://www.cnbc.com/2018/05/03/how-google-weeds-out-fraud-in-its-shopping-tool-.html

Protests force Armenia to halt some rail services: operator

MOSCOW, May 2 (Reuters) - Armenia’s national rail operator said on Wednesday it was suspending some rail services because anti-government protesters were blocking tracks. The operator, South Caucasus Railways, said in a statement it was suspending goods services and suburban passenger services across the country, citing “unsanctioned blocking of tracks and interference in the operation of rail transport”. (Reporting by Hasmik Mkrtchyan Writing by Christian Lowe Editing by Catherine Evans) Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Reuters Plus Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://www.reuters.com/article/armenia-politics-protests-railways/protests-force-armenia-to-halt-some-rail-services-operator-idUSR4N1S4015

French unions lead more protests against public service shakeup

May 22, 2018 / 10:01 AM / Updated an hour ago French unions lead more protests against public service shakeup Sophie Louet 2 Min Read PARIS (Reuters) - France’s labour unions, galled by years of public sector pay curbs and President Emmanuel Macron’s economic reforms, urged civil servants, hospital staff and other state employees to stop work on Tuesday and join nationwide street protests. French civil servants carry labour union flags as they march behind a banner during a national day of strikes by public sector workers, in Marseille, France, May 22, 2018. REUTERS/Jean-Pauil Pelissier It is the third time that the unions have sought to stage a show of strength in such a way since Macron began his five-year term in May 2017. A previous one drew some 320,000 people into the streets in March. The 40-year-old leader has shown no sign of surrender so far. French civil servants carry labour union flags as they march behind a banner during a national day of strikes by public sector workers, in Marseille, France, May 22, 2018. REUTERS/Jean-Pauil Pelissier Tuesday’s call came from all of the large labour unions plus many smaller ones and involved organisation of street rallies in about 140 cities, towns and villages across France. Slideshow (3 Images) Postal workers, air traffic controllers, state teachers and public administration workers were urged to quit their posts and join marches to denounce what the unions say is an erosion of spending power and the public service itself under Macron. One catalyst for their anger is a proposal to end certain sick leave perks and cut 120,000 government administration posts. Also on the cards is an increased recourse to contract hiring rather than the job-for-life recruitment that is standard in the civil service. In all, France has about 5.7 million employees in government administration, state agencies, schools and hospitals. The latest protest dovetails with one specific to France’s national railways: services have been disrupted for several days each week since early April by strikes over plans end the SNCF train company’s monopoly, and with it the hiring of rail workers on more protective contracts than other sectors. “We’re demonstrating in defence of a public service that is there to serves everyone, wherever in the country they live,” Philippe Martinez, head of the Communist-linked CGT union, told RTL radio. Writing by Brian Love; Editging by Richard Balmforth

https://uk.reuters.com/article/uk-france-reform-publicworkers/french-unions-lead-more-protests-against-public-service-shakeup-idUKKCN1IN146

Leaf Group Ltd. Reports

Q1 Leaf Group Revenue Grows 24% Year-over-Year to $33.7 Million Q1 Marketplaces Revenue Grows 32% Year-over-Year to $21.0 Million Q1 Media Revenue Grows 12% Year-over-Year to $12.8 Million Leaf Group Properties Reach Over 54 Million Average Monthly Unique Visitors in the U.S. during Q1 SANTA MONICA, Calif.--(BUSINESS WIRE)-- Leaf Group Ltd. (NYSE: LFGR), a diversified consumer internet company comprised of several marketplace and media properties, today reported financial ended March 31, 2018. Financial Summary (In thousands, except per share amounts) Three months ended March 31, 2018 2017 Marketplaces revenue $ 20,967 $ 15,876 Media revenue 12,780 11,362 Total revenue $ 33,747 $ 27,238 Net loss $ (5,925 ) $ (10,018 ) EPS - basic and diluted $ (0.26 ) $ (0.50 ) Adjusted EBITDA (1) $ (1,247 ) $ (4,425 ) Net cash used in operating activities $ (5,299 ) $ (7,699 ) Free cash flow (1) $ (7,001 ) $ (8,715 ) (1) These non-GAAP financial measures are described below and reconciled to their most directly comparable GAAP measures in the accompanying tables. Q1 2018 Financial Summary: Leaf Group is comprised of two reporting segments: Marketplaces and Media. For the first quarter of 2018: Total revenue increased 24% year-over-year from $27.2 million to $33.7 million due to a 32% increase in Marketplaces revenue and a 12% increase in Media revenue. Marketplaces revenue increased 32% year-over-year from $15.9 million to $21.0 million due to a 25% increase in Society6 revenue, inclusive of Deny Designs acquired in May 2017, and a 103% increase in Saatchi Art revenue, inclusive of The Other Art Fair. Society6 revenue growth was driven by the acquisition of Deny Designs in May 2017 and an increase in average order value from price increases and a reduction in promotional discounts. Saatchi Art revenue growth was driven by the introduction of three art fairs hosted by The Other Art Fair, increased conversion on Saatchi Art, and a higher commission rate on Saatchi Art initiated in Q2 2017. Media revenue increased 12% year-over-year from $11.4 million to $12.8 million. The increase in Media revenue was primarily driven by a 25% increase in Livestrong revenue as a result of traffic growth and improved revenue per visit. Net loss was $(5.9) million for the quarter, improving 41% year-over-year and Adjusted EBITDA was $(1.2) million for the quarter, improving 72% year-over-year, reflecting revenue growth in both Marketplaces and Media, reduced Media operating expenses, and a decrease in Marketplaces expenses as a percentage of revenue. Cash and cash equivalents was $46.5 million at period end, reflecting $23.4 million in net proceeds from the follow-on offering of 3,373,332 shares of Leaf Group common stock completed in February 2018. On a consolidated basis, Leaf Group’s properties reached over 54 million average monthly unique visitors in the U.S. during Q1 (source: Jan – Mar 2018 U.S. comScore). Operating Metrics (1) : Three months ended March 31, 2018 2017 % Change Marketplaces Metrics: Number of Transactions (2) 307,935 267,768 15 % Gross Transaction Value (3) (in thousands) $ 26,592 $ 19,675 35 % Media Metrics: Visits (4) (in thousands) 771,571 695,543 11 % Revenue per Visit (RPV) (5) $ 16.56 $ 16.34 1 % (1) Beginning in 2018, gross transaction value was added as an operating metric for the Marketplaces segment. Gross transaction value provides a measure of the overall volume that flows through the Company’s marketplaces in a given period. The Company will no longer be reporting on average revenue per transaction, video views and social media followers as management no longer uses these as key operating metrics to evaluate the business. (2) Number of transactions is defined as the total number of transactions successfully completed by a customer during the applicable period, excluding certain transactions generated by Saatchi Art’s The Other Art Fair that relate to the hosting of the art fairs, such as sales of leased space to artists, sponsorships fees and ticket sales. (3) Gross transaction value is defined as the total dollar value of Marketplaces transactions, excluding certain transactions generated by Saatchi Art’s The Other Art Fair that relate to the hosting of the art fairs, such as sales of leased space to artists, sponsorships fees and ticket sales. Gross transaction value is the total amount paid by the customer including the total product price, inclusive of artist margin, shipping charges, taxes, and is net of any promotional discounts. Gross transaction value does not reflect any subsequent cancellations, refunds or credits and does not represent revenue earned by the Company. (4) Visits are defined as the total number of times users access the company’s content across (a) one of its owned and operated properties and/or (b) one of its partners’ properties, to the extent that the visited partner web pages are hosted by the company. In each case, breaks of access of at least 30 minutes constitute a unique visit. (5) RPV is defined as Media revenue per one thousand visits. Conference Call and Webcast Information Leaf Group will host a corresponding conference call and live webcast today at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). To access the conference call, dial 833-287-0803 (U.S./CAN) or 647-689-4462 (International) and reference conference ID 2295616. To participate on the live call, analysts should dial-in at least 10 minutes prior to the commencement of the call. A live webcast also will be available on the Investor Relations section of Leaf Group’s corporate website at http://ir.leafgroup.com and via replay beginning approximately two hours after the completion of the call. Use of Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), Leaf Group uses certain non-GAAP financial measures, as described below. These non-GAAP financial measures are presented to enhance the user’s overall understanding of Leaf Group’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures presented in this release, together with the GAAP financial results, are the primary measures used by the company’s management and board of directors to understand and evaluate the company’s financial performance and operating trends, including period-to-period comparisons, because they exclude certain expenses and gains that management believes are not indicative of the company’s core operating results. Management also uses these measures to prepare and update the company’s short- and long-term financial and operational plans, to evaluate investment decisions, and in its discussions with investors, commercial bankers, equity research analysts and other users of the company’s financial statements. Accordingly, the company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the company’s operating results in the same manner as the company’s management and in comparing operating results across periods and to those of Leaf Group’s peer companies. The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense, or cash flows, that affect the company’s financial performance and operations. An additional limitation of non-GAAP financial measures is that they do not have standardized meanings, and therefore other companies, including peer companies, may use the same or similarly named measures but exclude or include different items or use different computations. Management compensates for these limitations by reconciling these non-GAAP financial measures to their most comparable GAAP financial measures in the tables captioned “Reconciliations of Non-GAAP Financial Measures” included at the end of this release. Investors and others are encouraged to review the company’s financial information in its entirety and not rely on a single financial measure. The company defines Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) as net income (loss) excluding interest (income) expense, income tax expense (benefit), and certain other non-cash or non-recurring items impacting net income (loss) from time to time, principally comprised of depreciation and amortization, stock-based compensation and acquisition, disposition and realignment costs. Management believes that the exclusion of certain expenses and gains in calculating Adjusted EBITDA provides a useful measure for period-to-period comparisons of the company’s underlying core revenue and operating costs that is focused more closely on the current costs necessary to operate the company’s businesses, and reflects its ongoing business in a manner that allows for meaningful analysis of trends. Management also believes that excluding certain non-cash charges can be useful because the amounts of such expenses is the result of long-term investment decisions made in previous periods rather than day-to-day operating decisions. The company defines Segment Operating Contribution as net income (loss) excluding corporate or unallocated expenses, interest (income) expense, income tax expense (benefit), and certain other non-cash or non-recurring items impacting net income (loss) from time to time, principally comprised of depreciation and amortization, and stock-based compensation. Management believes that the exclusion of certain expenses and gains in calculating Segment Operating Contribution provides a useful measure for period-to-period comparisons of the segment’s underlying revenue and operating costs that is focused more closely on the current costs necessary to operate the segment, and reflects the segment’s ongoing business in a manner that allows for meaningful analysis of trends. Management also believes that excluding certain non-cash charges can be useful because the amounts of such expenses is the result of long-term investment decisions made in previous periods rather than day-to-day operating decisions. The company defines Free Cash Flow as net cash provided by (used in) operating activities net of cash flows from acquisition, disposition and realignment activities; capital expenditures to acquire property and equipment; and purchases of intangible assets. Management believes that Free Cash Flow provides investors with useful information to measure operating liquidity because it reflects the company’s underlying cash flows from recurring operating activities after investing in capital assets and intangible assets. Free Cash Flow is used by management, and may also be useful for investors, to assess the company’s ability to generate cash flow for a variety of strategic opportunities, including reinvesting in its businesses, pursuing new business opportunities and potential acquisitions, paying dividends and repurchasing shares. About Leaf Group Leaf Group Ltd. (NYSE: LFGR) is a diversified consumer internet company that builds enduring, creator-driven brands that reach passionate audiences in large and growing lifestyle categories, including art and design (Saatchi Art), fitness and wellness ( Livestrong.com ), and home and décor (Society6 and Hunker). For more information about Leaf Group, visit www.leafgroup.com . Cautionary Information Regarding Forward-Looking Statements This press release contains 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. The forward-looking statements set forth in this press release include statements regarding potential synergies achieved from acquisitions, the impact of strategic operational changes and our future financial performance. In addition, statements containing words such as “guidance,” “may,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “project,” “projections,” “business outlook,” and “estimate” or similar expressions constitute Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. These forward-looking statements involve risks and uncertainties regarding the company’s future financial performance; could cause actual results or developments to differ materially from those indicated due to a number of factors affecting Leaf Group’s operations, markets, products and services; and are based on current expectations, estimates and projections about the company’s industry, financial condition, operating performance and results of operations, including certain assumptions related thereto. Potential risks and uncertainties that could affect the company’s operating and financial results are described in Leaf Group’s annual report on Form 10-K for the fiscal year ending December 31, 2017 filed with the Securities and Exchange Commission ( http://www.sec.gov ) on March 1, 2018, as such risks and uncertainties may be updated from time to time in Leaf Group’s quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, including, without limitation, information under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations.” These risks and uncertainties include, among others: the company’s ability to successfully drive and increase traffic to its marketplaces and media properties; the company’s ability to attract new and repeat customers and artists to its marketplaces and successfully grow its marketplace businesses; the impact of increasing mobile usage on the company’s marketplace businesses; changes in the methodologies of internet search engines, including ongoing algorithmic changes made by Google, Bing and Yahoo!; the effects of shifting consumption of media content and online shopping from desktop to mobile devices and/or social media platforms; the potential impact on advertising based revenue of lower ad unit rates, a reduction in online advertising spending, a loss of advertisers, lower advertising yields, increased availability of ad blocking software, particularly on mobile devices and/or ongoing changes in ad unit formats; the impact of certain changes made to the business model for the company’s media properties, including the ability to successfully launch, manage and grow new vertically focused web properties; our ability to effectively integrate, manage, operate and grow our recently acquired Deny Designs marketplace business; the company’s dependence on various agreements with a specific business partner for a significant portion of its advertising revenue; the company’s ability to effectively manage its expected uses of the proceeds from its recent follow-on offering of common stock; the company’s ability to successfully expand its current lines of business and grow new lines of business; changes in amortization or depreciation expense due to a variety of factors; potential write downs, reserves against or impairment of assets including receivables, goodwill, intangibles (including media content) or other assets; and the company’s ability to retain key personnel. From time to time, the company may consider acquisitions or divestitures that, if consummated, could be material. Any forward-looking statements regarding financial metrics are based upon the assumption that no such acquisition or divestiture is consummated during the relevant periods. If an acquisition or divestiture were consummated, actual results could differ materially from any The company does not intend to revise or update the information set forth in this press release, except as required by law, and may not provide this type of information in the future. Leaf Group Ltd. and Subsidiaries Unaudited Condensed Consolidated Statements of Operations (In thousands, except per share amounts) Three months ended March 31, 2018 2017 Revenue: Product revenue $ 18,451 $ 14,584 Service revenue 15,296 12,654 Total revenue 33,747 27,238 Operating expenses: Product costs (exclusive of amortization of intangible assets shown separately below) (1) 13,337 10,534 Service costs (exclusive of amortization of intangible assets shown separately below) (1)(2) 6,287 5,790 Sales and marketing (1)(2) 6,989 6,724 Product development (1)(2) 4,710 4,750 General and administrative (1)(2) 7,308 7,653 Amortization of intangible assets 1,026 1,837 Total operating expenses 39,657 37,288 Loss from operations (5,910 ) (10,050 ) Interest income 18 43 Interest expense (1 ) (2 ) Other (expense) income, net (8 ) 3 Loss before income taxes (5,901 ) (10,006 ) Income tax expense (24 ) (12 ) Net loss $ (5,925 ) $ (10,018 ) Net loss per share - basic and diluted $ (0.26 ) $ (0.50 ) Weighted average number of shares - basic and diluted 22,957 19,942 (1) Depreciation expense included in the above line items: Product costs $ 182 $ — Service costs 654 743 Sales and marketing 8 9 Product development 20 23 General and administrative 565 655 Total depreciation $ 1,429 $ 1,430 (2) Stock-based compensation included in the above line items: Service costs $ 149 $ 155 Sales and marketing 210 201 Product development 508 396 General and administrative 1,341 1,326 Total stock-based compensation $ 2,208 $ 2,078 Leaf Group Ltd. and Subsidiaries Unaudited Condensed Consolidated Balance Sheets (In thousands) March 31, December 31, 2018 2017 Assets Current assets Cash and cash equivalents $ 46,523 $ 31,344 Accounts receivable, net 8,886 8,663 Prepaid expenses and other current assets 3,216 2,741 Total current assets 58,625 42,748 Property and equipment, net 11,988 11,665 Intangible assets, net 9,452 10,431 Goodwill 17,186 17,152 Other assets 1,093 1,246 Total assets $ 98,344 $ 83,242 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 1,619 $ 1,980 Accrued expenses and other current liabilities 14,220 17,182 Deferred revenue 1,936 2,064 Total current liabilities 17,775 21,226 Deferred tax liability 51 40 Other liabilities 3,438 3,456 Total liabilities 21,264 24,722 Commitments and contingencies Stockholders’ equity Common stock 2 2 Additional paid-in capital 547,445 523,012 Treasury stock (35,706 ) (35,706 ) Accumulated other comprehensive income (loss) 35 (17 ) Accumulated deficit (434,696 ) (428,771 ) Total stockholders’ equity 77,080 58,520 Total liabilities and stockholders’ equity $ 98,344 $ 83,242 Leaf Group Ltd. and Subsidiaries Unaudited Condensed Consolidated Statements of Cash Flows (In thousands) Three months ended March 31, 2018 2017 Cash flows from operating activities Net loss $ (5,925 ) $ (10,018 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,455 3,267 Deferred income taxes 11 (57 ) Stock-based compensation 2,208 2,078 Other 100 1 Change in operating assets and liabilities, net of effect of acquisitions and disposals: Accounts receivable, net (323 ) 134 Prepaid expenses and other current assets (479 ) 903 Other long-term assets 55 1 Accounts payable (387 ) 40 Accrued expenses and other liabilities (2,886 ) (3,493 ) Deferred revenue (128 ) (555 ) Net cash used in operating activities (5,299 ) (7,699 ) Cash flows from investing activities Purchases of property and equipment (1,673 ) (1,058 ) Purchases of intangible assets (29 ) (46 ) Cash received from disposal of businesses and online properties, net of cash disposed — 385 Restricted deposits — 606 Other — 1 Net cash used in investing activities (1,702 ) (112 ) Cash flows from financing activities Proceeds from exercises of stock options and purchases under ESPP 148 309 Repurchases of common stock — (65 ) Proceeds from issuance of common stock 23,367 — Taxes paid on net share settlements of restricted stock units (1,402 ) (1,791 ) Cash paid for acquisition holdback — (119 ) Other (17 ) (16 ) Net cash provided by (used in) financing activities 22,096 (1,682 ) Effect of foreign currency on cash, cash equivalents and restricted cash (18 ) (4 ) Change in cash, cash equivalents and restricted cash 15,077 (9,497 ) Cash, cash equivalents and restricted cash, beginning of period 32,300 51,957 Cash, cash equivalents and restricted cash, end of period $ 47,377 $ 42,460 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 46,523 $ 41,504 Restricted cash included in other current assets 136 136 Restricted cash included in other long-term assets 718 820 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 47,377 $ 42,460 Leaf Group Ltd. and Subsidiaries Reconciliations of Non-GAAP Financial Measures (In thousands, except per share amounts) Three months ended March 31, 2018 2017 Adjusted EBITDA: Net loss $ (5,925 ) $ (10,018 ) Add (deduct): Income tax (benefit) expense 24 12 Interest (income) expense, net (17 ) (41 ) Other expense (income), net 8 (3 ) Depreciation and amortization (1) 2,455 3,267 Stock-based compensation (2) 2,208 2,078 Acquisition, disposition and realignment costs (3) — 280 Adjusted EBITDA $ (1,247 ) $ (4,425 ) Free Cash Flow: Net cash used in operating activities $ (5,299 ) $ (7,699 ) Purchases of property and equipment (1,673 ) (1,058 ) Purchases of intangible assets (29 ) (46 ) Acquisition, disposition and realignment cash flows (3) — 88 Free Cash Flow $ (7,001 ) $ (8,715 ) (1) Represents depreciation expense of the company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, including amortization expense related to its investment in media content assets as included in the company’s GAAP results of operations. (2) Represents the expense related to stock-based awards granted to employees, as included in the company’s GAAP results of operations. (3) Represents such items, when applicable, as (a) legal, accounting and other professional fees directly attributable to acquisition, disposition or corporate realignment activities and (b) employee severance and other payments attributable to acquisition, disposition or corporate realignment activities. Leaf Group Ltd. and Subsidiaries Reconciliation of Segment Disclosure (In thousands) Three months ended March 31, 2018 2017 Segment Revenue: Marketplaces $ 20,967 $ 15,876 Media 12,780 11,362 Total revenue $ 33,747 $ 27,238 Segment Operating Contribution: Marketplaces (1) $ 61 $ (1,405 ) Media (1) 5,457 3,615 Add (deduct): Corporate expenses (2) (6,765 ) (6,915 ) Acquisition, disposition and realignment costs (3) — 280 Adjusted EBITDA $ (1,247 ) $ (4,425 ) Reconciliation to consolidated pre-tax income (loss): Adjusted EBITDA $ (1,247 ) $ (4,425 ) Add (deduct): Interest income (expense), net 17 41 Other income (expense), net (8 ) 3 Depreciation and amortization (4) (2,455 ) (3,267 ) Stock-based compensation (5) (2,208 ) (2,078 ) Acquisition, disposition and realignment costs (3) — (280 ) Loss before income taxes $ (5,901 ) $ (10,006 ) (1) Segment operating contribution reflects earnings before corporate and unallocated expenses and also excludes: (a) depreciation expense; (b) amortization of intangible assets; (c) share-based compensation expense; (d) interest and other income (expenses); and (e) income taxes. (2) Corporate expenses include corporate and unallocated operating expenses that are not directly attributable to the operating segments, including: corporate information technology, marketing and general and administrative support functions and also excludes the following: (a) depreciation expense; (b) amortization of intangible assets; (c) share-based compensation expense; (d) interest and other income (expenses); and (e) income taxes. (3) Represents such items, when applicable, as (a) legal, accounting and other professional service fees directly attributable to acquisition, disposition or corporate realignment activities and (b) employee severance and other payments attributable to acquisition, disposition or corporate realignment activities. (4) Represents depreciation expense of our long-lived tangible assets and amortization expense of our finite-lived intangible assets, including amortization expense related to our investment in media content assets, included in our GAAP results of operations. (5) Represents the expense related to stock-based awards granted to employees as included in our GAAP results of operations. View source version on businesswire.com : https://www.businesswire.com/news/home/20180508006436/en/ Leaf Group Ltd. Investor Contacts: Jantoon Reigersman Chief Financial Officer (310) 656-6253 IR@leafgroup.com or Shawn Milne Investor Relations (415) 264-3419 shawn.milne@leafgroup.com or Media Contact: Sharna Daduk (310) 917-6405 sharna.daduk@leafgroup.com Source: Leaf Group Ltd.

http://www.cnbc.com/2018/05/08/business-wire-leaf-group-ltd-reports-first-quarter-2018-results.html

U.S. spelling bee champ to win crown from field of 41 finalists

OXON HILL, Md. (Reuters) - For one young spelling ace aiming for the $40,000 top prize in the Scripps National Spelling Bee, Thursday will be a day of winning. For 40 others, it will mean losing and learning to move on. The 91st annual Bee, which began Tuesday and ends Thursday evening, started with more than 500 spellers aged 8 to 15 and hailing from the United States and eight foreign countries. Forty-one spellers advanced to Thursday’s final rounds outside Washington, with a worldwide audience tuning in to a live broadcast of the finals on ESPN. A taste of defeat can actually be beneficial for future challenges, said 1985 champion Balu Natarajan, whose 12-year-old son Atman Balakrishnan was eliminated from competition on Wednesday. “First or not, just to have your kid in the spelling bee is pretty exciting,” said Natarajan, a sports medicine doctor in Chicago, who was 13 when he won the prize. Asked whether he believed himself a natural-born speller, Balakrishnan credited his hard work, saying he wakes up between 4 a.m. and 5 a.m. on weekdays to study before he goes to school. The finals also slipped out of reach for two sets of identical twins who were the first-ever twins to compete in the bee and who were were eliminated on Wednesday. Still, Aaron and Andrew Marcev, 11 year olds from Hattiesburg, Mississippi, who competed along with Pierce and Garrett Bryner, 13, of Price, Utah, said they came out ahead for having a teammate in the competition. “We get to support each other,” said Aaron Marcev, who is older than his brother by five minutes. “Most spellers have only one life, since it’s just themselves, but me and Andrew get to have two lives,” he added, referring to the number of “lives,” or turns, a player gets in a video game. To prepare for the competition, the brothers studied together at the kitchen table for at least seven hours a week, said their mother, Deborah Marcev. Reporting by Lacey Johnson; Additional reporting by Barbara Goldberg in New York; Editing by Frances Kerry

https://in.reuters.com/article/usa-spellingbee/u-s-spelling-bee-champ-to-win-crown-from-field-of-41-finalists-idINKCN1IW20J

UPDATE 1-Hyundai Mobis drops spin-off plan in the face of opposition

SEOUL (Reuters) - South Korea’s Hyundai Motor Group has shelved a restructuring plan which would have given the son of its aging chairman more control of the conglomerate, following opposition from investors including U.S. hedge fund Elliott Management Corp. FILE PHOTO: Hyundai Motor Group Chairman Chung Mong-koo speaks at the company's new year ceremony in Seoul January 2, 2015. REUTERS/Kim Hong-Ji The decision is a rare victory for an activist shareholder in South Korea, and comes at a time of growing public scrutiny of families controlling large conglomerates following a corruption scandal last year involving the Samsung Group. Auto parts maker Hyundai Mobis Co Ltd, which controls Hyundai Motor Co, on Monday cited “uncertainty” about shareholder support for a restructuring plan at a meeting next week. It also dropped a series of subsequent deals which would have enabled family members to secure a major stake in itself. The firm said it will “supplement and improve” the plan, which is part of a broader bid by South Korea’s second-biggest conglomerate to reform its circular ownership structure, reduce regulatory risk and prepare the group for father-to-son switch. “It’s a lesson that investors will no longer accept restructuring that only helps in succession,” said Professor Park Sang-in at Seoul National University. “The move raises uncertainty about restructuring at Hyundai and other family-run conglomerates.” Hyundai Mobis’ decision also comes before a meeting of advisors of shareholder National Pension Service to decide whether to lend their approval. Opposition would have led other institutional investors to follow suit, Park said. Hyundai Mobis’ plan involved spinning off its cash cow and combining it with logistics affiliate Hyundai Glovis Co Ltd, whose top shareholder is scion Chung Eui-son. Proxy advisors at home and abroad joined Elliott in saying the deal undervalued the unit, and questioning its transfer to a company whose business was unrelated. “As we pursued the plan, we also keenly felt that our communications with various shareholders and the market was inadequate,” Chung, the only son of 80-year-old Group Chairman Chung Mong-koo, said in a letter to shareholders. Hyundai Mobis said it has cancelled a May 29 shareholder meeting where the restructuring plan was to be put to a vote. The firm needed two-thirds of votes of shareholders present. “I think the most likely scenario is to adjust the deal to favour Mobis shareholders more, then pursue it again,” said analyst Yoo Ji-woong at eBest Investment & Securities. Hyundai Motor Group in March announced a plan to streamline its ownership structure through a series of deals, responding to calls from the government and investors to reduce circular ownership structures. The plan involved giving the junior Chung a foothold in Hyundai Mobis, of which he owns no stake. The following month, Elliott disclosed it held over $1 billion worth of shares in three Hyundai Motor Group firms, and called on the group to adopt a holding company strategy and boost shareholder returns. “[Hyundai Group] will re-evaluate our restructuring plan to better enhance the Group’s business competitiveness and corporate governance as well as to strengthen shareholder value,” Hyundai Motor said in a statement. The group will develop “an updated plan so we can meet the high expectations our stakeholders have of us,” it said. Reporting by Hyunjoo Jin and Joyce Lee; Additional reporting by Heekyong Yang; Editing by Darren Schuettler and Christopher Cushing

https://www.reuters.com/article/us-hyundai-mobis-m-a/hyundai-mobis-drops-spin-off-plan-in-the-face-of-opposition-idUSKCN1IM0RA

Integra LifeSciences Announces Proposed Public Offering of Common Stock

PLAINSBORO, N.J., May 09, 2018 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ:IART), a leading global medical technology company, today announced that it intends to offer, subject to market conditions and other factors, 5,250,000 shares of its common stock in an underwritten public offering registered under the Securities Act of 1933, as amended. In connection with the offering, Integra expects to grant the underwriters a 30-day option to purchase an additional 787,500 shares of common stock. Integra intends to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters’ option to purchase additional shares, to reduce outstanding revolving borrowings under Integra’s senior credit facility. The shares will be issued pursuant to an effective shelf registration statement on Form S-3. Before investing in the offering, interested parties should read the prospectus and related preliminary prospectus supplement for such offering, the documents incorporated by reference therein and the other documents Integra has filed with the Securities and Exchange Commission. J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the proposed offering. The offering is being made by means of a prospectus and related prospectus supplement, copies of which may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling (866) 803-9204, or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, by calling (800) 326-5897 or by emailing cmclientsupport@wellsfargo.com . Electronic copies of the prospectus and related prospectus supplement may be obtained by visiting EDGAR on the SEC’s website at http://www.sec.gov . This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or any jurisdiction. Any offer, if at all, will be made only by means of a prospectus and related prospectus supplement forming a part of the effective shelf registration statement. About Integra Integra LifeSciences is a global leader in regenerative technologies, neurosurgical and extremity orthopedic solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, Cadence®, Certas™, Codman®, CUSA®, DuraGen®, DuraSeal®, ICP Express®, Integra®, MediHoney®, MicroFrance®, PriMatrix®, Salto Talaris®, SurgiMend®, TCC-EZ®, Titan™ and VersaTru™. Forward-Looking Statements Certain statements in this press release that are not historical in nature constitute within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include Integra’s intention to conduct the offering and its intended use of proceeds from the offering. These are subject to a number of risks, uncertainties and assumptions about Integra’s business. Integra’s actual results may differ materially from those anticipated in these as a result of many factors, including but not limited to those set forth under the heading “Risk Factors” in Integra’s filings with the Securities and Exchange Commission, including Integra’s Annual Report on Form 10-K. Integra undertakes no obligation to publicly update or revise any , whether as a result of new information, future events or otherwise. You can identify these by forward-looking words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “seek,” “plan,” “expect,” “should,” “would” and similar expressions in this press release. Investor Relations Contacts: Sravan Emany Vice President, Treasurer & Investor Relations (609) 936-2488 sravan.emany@integralife.com Michael Beaulieu Director, Investor Relations (609) 750-2827 michael.beaulieu@integralife.com Media Contact: Laurene Isip Senior Director, Global Corporate Communications (609) 750-7984 laurene.isip@integralife.com Source:Integra LifeSciences Holdings Corporation

http://www.cnbc.com/2018/05/09/globe-newswire-integra-lifesciences-announces-proposed-public-offering-of-common-stock.html

Gemini Therapeutics Strengthens Senior Leadership Team with Key Appointments and Promotion

Precision medicine company names Chief Medical Officer, Chief Business Officer and Chief Technology Officer CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Gemini Therapeutics , a biotechnology company pioneering precision therapeutics for patients with high-risk genetic profiles linked to dry age-related macular degeneration (AMD) and rare systemic diseases, today announced the appointment of Claude Knopf as chief business officer and Sandra Rojas-Caro, M.D., as chief medical officer. In parallel, the company also announced the promotion of senior vice president for process development and manufacturing, Scott Lauder, Ph.D., to chief technology officer. Gemini’s first-in-class therapeutic candidates are matched to molecular abnormalities found in patients with high-risk genetic profiles. The company’s multimodal pipeline includes monoclonal antibodies, recombinant proteins and AAV-mediated gene therapies. “I am extremely proud of the strong leadership team we are building at Gemini,” said James McLaughlin, CEO, president and co-founder of Gemini Therapeutics. “Sandra and Claude bring deep expertise and Scott has been an invaluable contributor to our early progress. Their combined skill and experience will be crucial as we harness genetic insights and technology to develop precision therapeutics for AMD and rare complement-mediated genetic diseases.” A seasoned executive and biotech veteran, Mr. Knopf joins Gemini from Pieris Pharmaceuticals, where he served as senior vice president and chief business officer and helped close key transformative partnering deals. Prior to that, he was senior vice president BD&L/M&A for Baxter Bioscience, and the spin-off Baxalta, where he helped expand the Oncology business and pipeline and strengthened the company’s Hematology and Immunology divisions. He also spent 12 years at Novartis in various leadership, business development and licensing roles in Europe and the United States. As chief business officer, Mr. Knopf will lead corporate development and oversee key operational functions as Gemini continues its growth trajectory and transitions to the next stage of its focused business model. Dr. Rojas-Caro brings more than 20 years of experience across all phases of drug development, including successful global submissions, applied technology and translational biology environments. She was previously chief medical officer for Aeglea BioTherapeutics, a biotechnology company developing enzyme-based therapeutics to treat rare diseases and cancer. Prior to Aeglea, she served as group vice president of clinical research and development at Synageva BioPharma, where she played a key role in obtaining FDA approval of Kanuma for the treatment of lysosomal acid lipase deficiency. Dr. Rojas-Caro has also served as vice president and R&D project team leader for the Metabolic Rare Diseases Unit at Alexion following the acquisition of Synageva. As chief medical officer, Dr. Rojas-Caro will oversee the development and implementation of clinical and regulatory strategy and operations as Gemini advances multiple product development programs into the clinic. Dr. Lauder is a protein chemist with a deep background in biologics CMC development—from discovery through manufacturing. Prior to joining Gemini, Dr. Lauder served as vice president of process sciences and clinical manufacturing at Merrimack Pharmaceuticals and global head of the Protein and Cell Sciences group at EMD Serono. Dr. Lauder has deep experience with a broad array of biologic formats including monoclonal antibodies and recombinant proteins, as well as bispecifics and engineered fusion proteins, advancing many to clinical proof of concept. In his new role as chief technology officer, Dr. Lauder will oversee Gemini’s CMC team and development of translational technology for the company’s precision therapeutics. Gemini Therapeutics Gemini Therapeutics is a precision medicine company focused on creating first-in-class, disease-modifying precision therapeutics for high-risk genetically-defined patient populations. Our therapeutic candidates are matched to molecular abnormalities found in patients with high clinical need. Launched with funding from leading life science investors and powered by academic partnerships around the world, we are pioneering precision therapeutics for dry AMD and rare complement-mediated genetic diseases. For more information, visit www.GeminiTherapeutics.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20180530005400/en/ Ten Bridge Communications Paul Goldsmith, 617-697-3479 Paul@Tenbridgecommunications.com Source: Gemini Therapeutics

http://www.cnbc.com/2018/05/30/business-wire-gemini-therapeutics-strengthens-senior-leadership-team-with-key-appointments-and-promotion.html

Deutsche Bank looking to cut 10,000 jobs - WSJ

May 23, 2018 / 12:42 PM / Updated 18 minutes ago Deutsche Bank looks to cut 10,000 jobs to reduce costs - WSJ Reuters Staff 3 Min Read FRANKFURT (Reuters) - Deutsche Bank is planning to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, The Wall Street Journal reported on Wednesday. FILE PHOTO: The headquarters of the Deutsche Bank is pictured in Frankfurt, Germany, March 19, 2018. REUTERS/Ralph Orlowski/File Photo The Journal, citing unnamed sources, reported that job cuts were likely to extend into 2019. Separately, Bloomberg News reported the bank was planning to withdraw from a number of equities markets across the globe. The Bloomberg report, which also cited unidentified people, said that Deutsche would sharply scale back its presence in the United States, and had started cutting activities in Central Europe, the Middle East, and Africa. Deutsche Bank, which holds its annual shareholder meeting on Thursday, declined to comment. The loss-making bank said last month that it was planning to scale back its global investment bank and that equities was one of the areas it was looking at for possible cuts. A person familiar with the matter told Reuters last month Deutsche Bank was expected to cut around 1,000 jobs or 10 percent of its workforce in the United States. It has also said that it would cut back U.S. bonds trading and the business that services hedge funds. The bank has been expected to announce further details of its reorganisation plans ahead of its AGM on Thursday. Shareholders, fed up with a languishing share price and dwindling revenue, will call on the bank’s management to speed up the recovery process at the AGM. Hans-Christoph Hirt, head of shareholder adviser Hermes EOS at Hermes Investment Management, told Reuters on Wednesday he wanted to see a “credible strategy with achievable targets.” Deutsche Bank Chairman Paul Achleitner last month abruptly replaced CEO John Cryan with Christian Sewing amid investor complaints that the bank was falling behind in executing a turnaround plan. “Critically, the most recent CEO appointment needs to work out,” Hirt said. Deutsche Bank’s shares have fallen nearly 31 percent this year. The bank, Germany’s biggest lender, is also under pressure from credit ratings agencies. Standard & Poor’s is expected to say by the end of the month whether it will cut Deutsche Bank’s rating after putting it on “credit watch” in April. Reporting by Tom Sims; Editing by Maria Sheahan and Jane Merriman

https://uk.reuters.com/article/uk-deutsche-bank-strategy/deutsche-bank-plans-to-exit-from-equities-markets-bloomberg-idUKKCN1IO1SG

From Moscow to Zurich: Kaspersky Is Moving Customer Data Away from Russian Spies’ Reach

The Russian cybersecurity giant Kaspersky, desperate to regain trust after U.S. pushback against its alleged ties to Russian intelligence, is moving some of its key operations from Moscow to Zurich, Switzerland. The antivirus maker said Tuesday that it’s moving its “assembly line” to Zurich so that its software can be finalized and verified by a third-party organization before making its way to customers. Kaspersky is also moving the servers that store and process much of its Security Network information to Zurich, covering the data of customers in the U.S., Canada, Europe, Australia, Japan, South Korea and Singapore. “We chose [Zurich] for two reasons,” Kaspersky said in a Q&A . “First, Switzerland has maintained its policy of neutrality for two centuries. Second, the country has strong data protection legislation. We believe these two qualities make Switzerland the perfect place to move part of our sensitive infrastructure.” Kaspersky Security Network is the cloud-based system through which Kaspersky collects data from the computers of its business customers, in order to spot and combat threats. The Department of Homeland Security last year banned federal agencies from using Kaspersky software because Russia’s intelligence agencies could force the company to help spy on its customers. “The risk that the Russian government, whether acting on its own or in collaboration with Kaspersky, could capitalize on access provided by Kaspersky products to compromise federal information and information systems directly implicates U.S. national security,” the department said at the time. We’re relocating a good part of our critical R&D infrastructure to Switzerland. A quick Q&A with details about Global Transparency Initiative: https://t.co/2WN1Z1p02f pic.twitter.com/6XRdZnSBTP — Eugene Kaspersky (@e_kaspersky) May 15, 2018 “Storing [the Kaspersky Security Network data] in Switzerland under the supervision of an independent organization means that any access to this data is meticulously logged—and the logs can be reviewed at any moment should any concerns arise,” Kaspersky said. The relocation is part of Kaspersky’s “Global Transparency Initiative” and it creates the company’s first “transparency center.” It is common for companies with government contracts to allow the secure inspection of their code, to check for hidden backdoors, and that’s what will also be on offer at Kaspersky’s Zurich facility. As for the third-party organization that will review Kaspersky’s source code and keep an eye on its employees’ access to customers’ metadata, Kaspersky said it “supports the creation of a new, non-profit organization to take on this responsibility, not just for the company, but for other partners and members who wish to join.” The plan is to relocate Kaspersky’s “assembly line” by the end of this year, and the data processing side by the end of 2019. Kaspersky also says it will open transparency centers in North America and Asia by 2020.

http://fortune.com/2018/05/15/kaspersky-russia-spies-moscow-zurich-relocate/

Macau court orders $5,000 fine but no jail time for casino hub's youngest lawmaker

May 29, 2018 / 11:53 AM / Updated 40 minutes ago Macau court orders $5,000 fine but no jail time for casino hub's youngest lawmaker Reuters Staff 3 Min Read HONG KONG (Reuters) - A Macau court on Tuesday levied a fine of $5,000 on the territory’s youngest lawmaker, but no jail time, at the conclusion of a trial viewed as a test case of transparency and conflict of interest in the world’s biggest gambling hub. Suspended lawmaker Sulu Sou poses on a street in Macau, China February 13, 2018. REUTERS/Staff The lawmaker, Sulu Sou, 26, was ordered to pay a fine of 40,800 patacas ($5,060) on charges of aggravated disobedience over an unauthorised protest outside the home of the Chinese-controlled territory’s leader, Fernando Chui. Macau law provides for Sou to be stripped of his duties as a legislator if he spends more than 30 days in jail. “Sou was found guilty and has been issued a fine,” said the lawmaker’s assistant Rocky，who did not give his last name. Domestic media also reported the verdict. Sou and his lawyer were not immediately available for comment. It was not clear if Sou would appeal the decision. Sou, elected a lawmaker in September 2017, has been pressing for greater government accountability in a push by the New Macau Association, a pro-democracy group whose members are in their 20s and 30s. Among the group was Scott Chiang, who faced charges of aggravated disobedience along with Sou and was fined 27,000 patacas ($3,348). As a lawmaker, Sou had immunity from prosecution, but 28 of the 33 legislative assembly members in the former Portuguese colony voted on Dec. 4 to suspend him so that he could stand trial. Sou’s case, which has prompted parallels with democracy activists such as Joshua Wong in neighbouring Hong Kong, was the first time a lawmaker had been suspended since Macau was established as a special administrative region of China in 1999. While some activists in Hong Kong, the former British colony that returned to Chinese rule in 1997, have sought independence and taken to the streets to protest, Macau has seen little public opposition over the mainland’s policies in the enclave. Public support for Sou and the New Macau Association has surged since last August, following the devastation wreaked by typhoon Hato, which killed at least nine people and left many residents infuriated at the government’s handling of the disaster. Both Sou and Chiang had faced charges over a 2016 protest against a donation of 100 million yuan (11 million pounds) to Jinan University in China’s southern city of Guangzhou, by the Macau Foundation. The New Macau Association said there was a conflict of interest, since Chui was deputy chairman of the university’s board and also chairman of the trustees of the government-linked Macau Foundation that says it distributes to charitable, social and grassroots causes. Chui’s office did not respond to requests for comment. ($1=8.0640 patacas)

https://in.reuters.com/article/macau-politics-court/macau-court-orders-5000-fine-but-no-jail-time-for-casino-hubs-youngest-lawmaker-idINKCN1IU1D6

Emerald Health Sciences Inc.

Vancouver, British Columbia, Emerald Health Sciences Inc. (the “ Acquiror ”) announces that on May 22, 2018, it sold, through a secondary offering, 2,000,000 common shares (the “ Shares ”) of Emerald Health Therapeutics, Inc. (the “ Issuer ”) of PO Box 24076, 4420 West Saanich Road, Victoria, British Columbia, V8Z 7E7. Immediately before the transaction that triggered the requirement to file this report, the Acquiror had ownership of 45,234,242 Shares, representing approximately 34.4% of then issued and outstanding Shares. Following the transaction that triggered the requirement to file this report, the Acquiror held direct ownership of 43,234,242 Shares representing approximately 31.9% of the then issued and outstanding Shares. The Acquiror also holds 4,411,764 common share purchase warrants (the “ Warrants ”). Assuming the exercise of the Warrants, the Acquiror would own 47,646,006 Shares representing approximately 33.1% of the issued and outstanding Shares (on a partially-diluted basis giving effect only to the exercise of the Warrants). The Acquiror disposed of the Shares for investment purposes. The Acquiror may sell additional Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Acquiror in connection with the acquisition of the Shares is available on the Issuer’s SEDAR profile, and it can also be obtained directly from the Acquiror by contacting the number shown above. EMERALD HEALTH SCIENCES INC. Stephen Hall, Chief Financial Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the Office 8262, The Landing 200 – 375 Water Street Vancouver, BC V6B 0M9 Phone: (778) 868-1582 Source:Emerald Health Sciences Inc.

http://www.cnbc.com/2018/05/23/globe-newswire-emerald-health-sciences-inc.html

China tech giants bet on untangling logistics of Indonesian e-commerce

May 15, 2018 / 2:40 AM / Updated 25 minutes ago China tech giants bet on untangling logistics of Indonesian e-commerce Cindy Silviana , Ed Davies 7 Min Read JAKARTA (Reuters) - In a warehouse on the outskirts of Indonesia’s capital, supervisors at e-commerce company Lazada use bikes or electric scooters to zip around a floor the size of four soccer fields, where up to 3,000 staff pack and dispatch goods around the clock.The warehouse is one of five that Lazada has opened across Indonesia to cut costs and expand its reach in an archipelago whose 17,000 islands are sprinkled across an area bigger than the European Union. Workers pacakge items for delivery at online retailer Lazada's warehouse in Depok, south of Jakarta, Indonesia March 26, 2018. REUTERS/Darren Whiteside Chinese tech firms, including Lazada’s top investor, Alibaba Group Holding, have poured at least $6 billion into nearly every aspect of Indonesian e-commerce. Lazada uses Alibaba’s inventory management systems and has tied up with ride-hailing companies, often using their motorbikes to deliver goods in a country with creaking infrastructure and traffic-clogged cities. The payoff could be huge. It is a market forecast to grow from about $7 billion last year to $63 billion by 2027, according to Morgan Stanley. “Indonesia, both in terms of the customers and behaviour, is a very unique challenge and we need to adapt,” Florian Holm, co-chief executive at Lazada Indonesia, told Reuters. Lazada and Tokopedia, in which Alibaba is also an investor, dominate Indonesia in customer traffic, with more than 117 million monthly website visits each, according to data from e-commerce aggregator iPrice. Alibaba doubled its investment in loss-making Lazada to $4 billion in April, underscoring its global ambition to secure a bigger share of the e-commerce market. Between the investment and the rewards, however, lie enormous complexities. The World Bank has said logistical costs swallow up around a quarter of Indonesia’s gross domestic product, citing bottlenecks in supply chains, long dwelling times in ports and lengthy trade clearances. Lazada has opened warehouses in places like Balikpapan, on the coast of Borneo, to avoid hauling everything from Jakarta. Holm said that had in some cases reduced shipping costs by 90 percent. Competitive pressure is growing. Another Chinese heavyweight, JD.com, arrived in Indonesia in 2016. And the U.S. giant Amazon, which opened a warehouse in Singapore last year, may be prepared to dip a toe into the Indonesian market soon. A worker uses a forklift to collect items at online retailer Lazada's warehouse in Depok, south of Jakarta, Indonesia March 26, 2018. REUTERS/Darren Whiteside CHINESE INFLUENCE Indonesia’s e-commerce sales are set to rise from 3 percent of retail activity now to 19 percent by 2027, Morgan Stanley estimates. The same report said there were 159 million smartphones in Indonesia at the end of 2016, a number that could rise to 275 million by 2021. Indonesia’s young population and room for improvement in transportation and communications add to the prospects for growth, the bank said. That has attracted other Chinese companies. Tencent Holdings, which owns regional e-commerce player SEA, has entered the fray. Tencent and JD.com have stakes in Indonesia’s ride-hailing firm Go-Jek, while JD.com has invested in online travel company Traveloka. But Usman Akhtar, a partner at Bain & Co in Jakarta, said Indonesian companies such as Blibli, backed by a unit of the Djarum group, remain a force. “I would not characterize Indonesia as turning into a replica of China’s e-commerce market, at least not yet,” said Akhtar, referring to how JD.com and Alibaba dominate in China. Kusumo Martanto, who heads Blibli, told Reuters the company had seven warehouses in Indonesia with seven more planned, and said it was important for local e-commerce companies to compete against Chinese players. Alibaba founder Jack Ma is on an Indonesian government steering committee for e-commerce, advising on areas such as tax, cyber security and human resources. Indonesia’s communications minister, Rudiantara, said there was no conflict of interest in Ma’s role, describing him as a “guru” who could help sell the country’s potential. But some policies seem to be turning toward Ma’s home turf. Slideshow (5 Images) Indonesia, which is trying to tackle a shortage of talent in the digital sector, dropped sponsorships for 20 students to study in places like Australia and the United States. Instead, 10 students will go to India and 10 to China to study this year “because the future of the digital economy is in China and India,” said the minister, who uses one name. EYING AMAZON Caterine, a 30-year-old housewife who lives west of Jakarta, used to shop in conventional stores once a week, but after her baby was born six months ago, she has been shopping online two to three times a week for convenience. “I prefer online shopping because it is quick. I can just click and click and the goods will arrive,” she said, adding she mostly used Shopee and Tokopedia for goods such as diapers and clothing. Morgan Stanley said delivery times of all types across Indonesia are down to about 3 days from 10 days, while deliveries in big cities can take 24 hours or less. While in urban areas delivery times have greatly improved, other parts of Indonesia’s e-commerce supply chain are still inefficient, said Willson Cuaca, co-founder of East Ventures, a tech investment fund. “To send goods from point A to B, the logistics company needs at least two modes of transport,” he said, referring to the complications of operating across so many islands. Amazon, by contrast, prefers to control its own supply chains from start to finish. But entering a market like Indonesia could require it to revisit that strategy. Amazon Singapore did not respond to a request for comment on whether it had plans for Indonesia. Much of the U.S. giant’s international focus has been on developing its business in India, even though some view its entry into Singapore last year as a stepping stone for expansion in the region. “At this moment, I believe it is trying to test the market, by selling products through third-party sellers,” said Daniel Tumiwa of the Indonesian e-commerce Association. Zhang Li, who heads JD.com’s Indonesian joint venture with Provident Capital JD.ID, was not overly concerned about competition from the likes of Amazon. “E-commerce is a global and borderless business, so we have to prepare and do continuous improvement to make our customers happy,” Zhang said. Additional reporting by Jessica Damiana and Fanny Potkin in LONDON; Editing by Gerry Doyle

https://uk.reuters.com/article/uk-indonesia-tech-china/china-tech-giants-bet-on-untangling-logistics-of-indonesian-e-commerce-idUKKCN1IG07Y

UPDATE 1-J&J must pay $4 mln in punitive damages in latest asbestos cancer trial

(Adds that no company besides J&J was found liable, comment by plaintiff lawyer) By Tina Bellon May 24 (Reuters) - A California jury on Thursday ordered Johnson & Johnson to pay $4 million in punitive damages to a woman who said she developed cancer after being exposed to asbestos in the company’s baby powder, pushing the total damages award in the case to $25.7 million. The decision in Los Angeles Superior Court comes on top of $21.7 million in compensatory damages that the same jury awarded to the woman and her husband on Wednesday. Joanne Anderson, 68, was diagnosed with mesothelioma, a form of cancer closely linked to asbestos exposure. The case marked the second trial loss for J&J over similar allegations. J&J has denied that its talc products contain asbestos or cause cancer, citing decades of testing by independent laboratories and scientists. But plaintiffs claim asbestos and talc, which are closely linked minerals, are intermingled in the mining process, making it impossible to remove the carcinogenic substance. Of Wednesday’s $21.7 million in compensatory damages, J&J was assigned 67 percent of the liability, Anderson’s lawyer, Chris Panatier, said. The jury found that the remaining percentage came from Anderson being a bystander to her husband’s work on asbestos-containing brakes. In addition to J&J, Anderson and her husband last year sued a unit of Imerys SA, Cyprus Amax Minerals, a unit of Brenntag, Honeywell International and other talc suppliers. But all of those companies were dismissed from the lawsuit. “Our clients are hopeful that this verdict can further bring light to this unbelievable example of corporate misconduct,” David Greenstone, a colleague of Panatier, said in a statement. J&J in a statement said it was disappointed with the decision and would begin the appeals process. “We will continue to defend the safety of our product because it does not contain asbestos or cause mesothelioma,” the company said. J&J is battling some 9,000 cases claiming its talc products cause ovarian cancer, but the talc litigants have recently focused on claims based on alleged asbestos contamination. A New Jersey state court jury in April ordered J&J and Imerys Talc America to pay $117 million to a man who alleged he developed mesothelioma due to asbestos exposure from J&J Baby Powder. An appeal is pending. A California jury in November last year cleared J&J of liability in another mesothelioma lawsuit. The company and Imerys’ U.S. unit, as well as a unit of U.S. drugstore chain Rite Aid, are also facing another mesothelioma trial in a South Carolina court. (Reporting by Tina Bellon in New York; Editing by Cynthia Osterman)

https://www.reuters.com/article/johnsonjohnson-cancer-lawsuit/update-1-jj-must-pay-4-mln-in-punitive-damages-in-latest-asbestos-cancer-trial-idUSL2N1SV1XL

HSBC says performs first trade finance transaction using blockchain

May 14, 2018 / 1:38 AM / Updated 14 minutes ago HSBC says performs first trade finance transaction using blockchain Reuters Staff 2 Min Read HONG KONG (Reuters) - HSBC Holdings Plc said on Monday it had performed the world’s first trade finance transaction using blockchain technology, a major step in boosting efficiency and reducing errors in the multi-trillion-dollar funding of international trade. HSBC bank is pictured in Geneva, Switzerland, November 8, 2017. REUTERS/Denis Balibouse HSBC and Dutch bank ING successfully completed the transaction for food and agricultural group Cargill, the British lender said in a statement. The use of blockchain technology in the banking industry is expected to reduce the risk of fraud in letters of credit and other transactions as well as cut down on the number of steps used. Letters of credit are one of the most widely used ways of reducing risk between importers and exporters, helping guarantee more than $2 trillion worth of transactions, but the process creates a long paper trail and takes between five and 10 days to exchange documentation. “At the moment, buyers and suppliers use a letter of credit, typically concluded by physically transferring paper documents, to underpin transactions,” said Vivek Ramachandran, global head of innovation and growth at HSBC’s commercial banking unit. “What this means for businesses is that trade finance transactions have been made simpler, faster, more transparent and more secure.” Putting all of Asia Pacific’s trade-related paperwork into electronic form could slash the time it takes to export goods by up to 44 percent and cut costs by up to 31 percent, the HSBC statement said, citing a study by the United Nations. Reporting by Sumeet Chatterjee; Editing by Edwina Gibbs

https://uk.reuters.com/article/uk-hsbc-blockchain/hsbc-says-performs-first-trade-finance-transaction-using-blockchain-idUKKCN1IF03H

Mitcham Industries Announces Fiscal 2019 First Quarter Earnings Release And Conference Call Schedule

HUNTSVILLE, Texas, May 17, 2018 /PRNewswire/ -- Mitcham Industries, Inc. (NASDAQ: MIND) announced today that it will release financial results for its fiscal 2019 first quarter ended April 30, 2018 after the market closes on Wednesday, June 6, 2018. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, June 7 at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time. What: Mitcham Industries Fiscal 2019 First Quarter Earnings Conference Call When: Thursday, June 7, 2018 at 9:00 a.m. Eastern / 8:00 a.m. Central How: Live via phone -- By dialing (412) 902-0030 and asking for the Mitcham Industries call at least 10 minutes prior to the start time, or Live over the Internet -- By logging onto the web at the address below Where: http://www.mitchamindustries.com For those who cannot listen to the live call, a replay will be available through June 14, 2018 and may be accessed by dialing (201) 612-7415 and using pass code 13680079#. Also, an archive of the webcast will be available shortly after the call at www.mitchamindustries.com for 90 days. For more information, please contact Donna Washburn at Dennard-Lascar Associates at 713-529-6600 or email dwashburn@dennardlascar.com . About Mitcham Industries Mitcham Industries, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in Huntsville, Texas, Mitcham has a global presence with operating locations in the United States, Canada, Australia, Singapore, Russia, Hungary, Colombia and the United Kingdom. Mitcham's worldwide Marine Technology Products segment, which includes its Seamap and Klein Marine Systems units, designs, manufactures and sells specialized, high performance, marine sonar and seismic equipment. Through its Equipment Leasing segment, Mitcham believes it is the largest independent provider of exploration equipment to the seismic industry. Contacts: Rob Capps, Co-CEO Mitcham Industries, Inc. 936-291-2277 Jack Lascar / Mark Roberson Dennard Lascar Investor Relations 713-529-6600 View original content: http://www.prnewswire.com/news-releases/mitcham-industries-announces-fiscal-2019-first-quarter-earnings-release-and-conference-call-schedule-300649888.html SOURCE Mitcham Industries, Inc.

http://www.cnbc.com/2018/05/17/pr-newswire-mitcham-industries-announces-fiscal-2019-first-quarter-earnings-release-and-conference-call-schedule.html

Investors least bearish on longer-dated U.S. bonds since Sept -JPMorgan

May 1 (Reuters) - The margin of investors who are bearish on longer-dated U.S. Treasuries versus those who are bullish on them shrank to its slimmest since September, JPMorgan Chase & Co’s latest client survey showed on Tuesday. The move came after benchmark 10-year Treasury yields last week reached 3 percent for the first time since January 2014 on concerns about rising inflation and government borrowing. The 10-year yield retreated below 3 percent on buying from investors attracted to those yield levels. At 10:35 a.m. (1435 GMT), the 10-year Treasury yield was 2.976 percent, up 4 basis points from late on Monday. The share of investors who said on Monday they were “short,” or holding fewer Treasuries than their portfolio benchmarks, decreased to 28 percent from 36 percent a week earlier. The share of investors who said they were “long” longer-dated Treasuries slipped to 19 percent from 21 percent the prior week. The net shorts fell to 9 percent from 15 percent last week, marking the smallest difference between the shares of short and long investors since Sept. 18, JPMorgan said. The share of investors who said they were neutral on longer-dated government debt grew to 53 percent from 43 percent, JPMorgan said. JPMorgan surveyed clients, including bond fund managers, central banks and sovereign wealth funds, as well as market makers and hedge funds. (Reporting by Richard Leong; Editing by Dan Grebler)

https://www.reuters.com/article/treasuries-jpmorgan/investors-least-bearish-on-longer-dated-u-s-bonds-since-sept-jpmorgan-idUSL1N1S80OG

Nestle reaches deal to settle row with European retailers

May 2, 2018 / 9:47 AM / Updated 32 minutes ago Nestle settles months-long pricing scrap with European retailers Reuters Staff 3 Min Read ZURICH (Reuters) - Swiss food group Nestle ( NESN.S ) has clinched an agreement with European retailers to settle a months-long pricing row and get its products back on sale, the world’s biggest packaged food maker said on Wednesday. FILE PHOTO: The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy/File Photo “We are pleased that a balanced agreement has been reached and that Nestle products will soon be back on the shelves of the six members of the European retail alliance AgeCore,” a company spokesman said, confirming a report by Germany’s Lebensmittelzeitung. Nestle, whose brands include KitKat chocolates and Thomy sauces, has for months faced off with AgeCore, a Geneva-based group representing six European retailers. The group, which included Germany’s Edeka and Switzerland’s Coop, had boycotted Nestle products as they sought better supply terms. An Edeka spokesman confirmed the settlement but said details of the accord were confidential. “We are switching back to normal operations with Nestle,” he added. Edeka, Germany’s largest supermarket group, had last month recommended its stores expand the boycott of some Nestle products, escalating the pricing row that broke out in September. Switzerland’s Coop had also broadened its boycott, banishing more Nestle products from its stores. Coop said on Wednesday it would pass on results of the negotiated deal to customers as it puts Nestle products back on sale in the days ahead. Coop would launch a two-week sale from mid-May offering up to 30 percent discounts on more than 500 Nestle products such as Nescafe instant coffee, Smarties sweets and Moevenpick ice-cream. Another such Nestle brands promotion was planned for the months ahead, it said. The dispute was the latest outward sign of tension between European retailers and suppliers at a time of changing consumer tastes and new online competition. Nestle, under the leadership of new Chief Executive Mark Schneider, last year posted its weakest annual sales growth in at least two decades, which has prompted shareholder pressure to boost revenue and profit margins. Its first-quarter sales growth was driven almost entirely by volume, illustrating how hard it is for consumer products makers to raise prices in a competitive retail environment. Nestle shares were down 1.2 percent by midday, while the Stoxx European retail sector index .SX3P was down 0.4 percent. Reporting by Angelika Gruber in Zurich and Matthias Inverardi in Dueseldorf, writing by Michael Shields, editing by John Revill

https://www.reuters.com/article/us-nestle-retailers-edeka/nestle-reaches-deal-to-settle-row-with-european-retailers-idUSKBN1I315D

sets new restrictions on companies' foreign debt to curb risks

BEIJING (Reuters) - China is imposing more restrictions on companies which are trying to raise relatively low-cost funds overseas to help control their financing risks, the country’s state planner said on Thursday. Local firms can sell debt overseas if the proceeds are used to support China’s economy, but they must “effectively prevent risks in medium- and long-term foreign debt and local debt risks”, the National Development and Reform Commission (NDRC) and the Ministry of Finance said in a joint circular. Companies and financial institutions that plan to issue medium- to long-term foreign debt cannot ask for or accept guarantees from local governments for financing activities, according to the statement. They will also be banned from disclosing information on possible government credit support when they issue bond prospectuses to potential investors, and credit rating agencies cannot link corporate credit with local government finances, the agencies said. Firms seeking to raise medium- and long-term foreign debt should use interest rate swaps, forward foreign exchange trading, options, swaps and other financial products to hedge currency and interest rate risks, they said. Firms that have invested foreign debt in investment projects must establish a market-based investment return mechanism to form stable and sustained revenues, they added. China’s outstanding foreign debt rose to $1.71 trillion at the end of 2017 from $1.68 trillion at the end of September, according to the latest official data. Property developers in particular have been keen to borrow overseas given tightening regulatory restrictions and rising rates at home. Reporting by Beijing Monitoring Desk and Kevin Yao; Editing by Kim Coghill

https://www.reuters.com/article/us-china-economy-debt/china-state-planner-takes-further-step-to-sever-local-government-debt-links-idUSKCN1II0QG

Jazz Pharmaceuticals to settle U.S. probe for $57 million

May 8, 2018 / 11:44 PM / Updated 12 hours ago Jazz Pharmaceuticals to settle U.S. probe for $57 million Nate Raymond 2 Min Read BOSTON (Reuters) - Jazz Pharmaceuticals Plc said on Tuesday it had agreed to pay $57 million to resolve a U.S. probe into its financial support of charities that offer assistance to Medicare patients seeking help to cover out-of-pocket drug costs. The drugmaker said in a filing with the U.S. Securities and Exchange Commission that it reached an agreement in principle with the U.S. Justice Department to pay the sum as part of a civil settlement. Jazz, which produces the expensive narcolepsy drug Xyrem, said in the filing it could not guarantee its efforts to reach a final settlement would be successful. The drugmaker has a program aimed at ensuring its compliance with applicable legal and regulatory requirements for pharmaceutical companies, including requirements relating to support of organizations providing financial assistance to Medicare patients, Jazz told Reuters in an emailed statement. The company is among more than a dozen pharmaceutical manufacturers that have disclosed receiving subpoenas seeking for information related to their support of patient-assistance charities. Drug companies are prohibited from subsidizing co-payments for patients enrolled in the Medicare government healthcare program for the elderly. But companies may donate to nonprofits providing co-pay assistance as long as they are independent. The U.S. Attorney’s Office in Massachusetts has been leading the industry-wide investigation. In December, it announced a $210 million settlement with United Therapeutics Corp to resolve claims it used a charity as a conduit to illegally cover Medicare patients’ out-of-pocket costs in order to eliminate price sensitivity and boost sales. Reporting by Nate Raymond in Boston; additional reporting by Kanishka Singh in Bengaluru Editing by Sandra Maler and Peter Cooney

https://in.reuters.com/article/us-jazz-phrmt-settlement/jazz-pharmaceuticals-to-settle-u-s-probe-for-57-million-idINKBN1I93IK

Gulf Arab allies jubilant at U.S. withdrawal from Iran deal

RIYADH (Reuters) - Saudi Arabia and its Gulf allies basked on Wednesday in what they saw as a political victory over Iran, their rival for regional influence, after Washington withdrew from the international nuclear accord with Tehran. Saudi Arabia, the United Arab Emirates (UAE) and Bahrain swiftly backed U.S. President Donald Trump’s decision to reimpose sanctions on Tehran, reflecting their concern about Iran’s ballistic missile program and support for militant groups. “Paris and London may not like Trump’s decision, but how would the French or British feel if their capital cities came under direct threat by the Iranians?” editor-in-chief Faisal Abbas wrote in Saudi Arabia’s English-language Arab News daily next to a headline that read: “The deal is dead.” In a coffee shop, Saudi businessman Ziad said the kingdom’s leadership was correct to challenge a deal that had eased sanctions in exchange for Tehran taking measures that would prevent it being able to make a nuclear weapon. “Every couple of days, we have missiles coming from Yemen and we see evidence that they are made by Iran ... It is interfering in Syria, Yemen, Morocco. Other countries may accept that, but here in Saudi Arabia we don’t,” he said. An hour later, at least four loud blasts rocked Riyadh. Authorities said they had intercepted two ballistic missiles fired from Yemen, where a Saudi-led coalition is fighting to oust the Iran-aligned Houthi movement from the capital and large parts of the country. PROXY WARS The Sunni Muslim kingdom has been at loggerheads with Shi’ite Iran for decades, fighting a long-running proxy war in the Middle East and beyond that has influenced conflicts in Iraq, Syria, Lebanon and Yemen. The Saudi Foreign Ministry accused Iran of using economic gains from the lifting of sanctions to develop ballistic missiles and support militants. It called for a “comprehensive view that is not limited to its nuclear program but also includes all hostile activities”. Anwar Gargash, UAE Minister of State for Foreign Affairs, tweeted that Iran had been emboldened by the nuclear deal, and “its ballistic missile program became both offensive & exportable”. Trump has employed similar arguments, criticizing the accord for failing to address Iran’s ballistic missile program, its nuclear activities beyond 2025, or its role in regional wars. “He is supporting us not because we are Saudi Arabia or because we have oil, but because he thinks we are right,” said Mohammed, another Saudi businessman. Oman, which orchestrated secret U.S.-Iran contacts that helped pave the way for the deal in 2015, was more measured. “We believe the United States and the Islamic Republic of Iran are interested in realizing peace and stability in the region, and the choice of confrontation is not in the interest of either side,” its foreign ministry said. Kuwait said in a statement that it “understands and respects” Trump’s decision. Qatar, locked in a dispute with Saudi Arabia and other Arab states, meanwhile cautioned against a potential nuclear arms race in the region. “It is in the interest of all parties to exercise restraint, wisdom and patience and to try to resolve differences through dialogue,” its foreign ministry said. Saudi Arabia, the UAE, Bahrain and Egypt imposed a trade and transport boycott on Qatar in June, accusing it of financing militant groups and cozying up to Iran — charges it denies. “SINISTER ACTIVITIES” “The Omani, Qatari, and Kuwaiti governments have all sought to maintain pragmatic relations — economic more than political — with Iran,” said Kristian Coates Ulrichsen from the Texas-based Rice University’s Baker Institute. “There is likely to be a feeling of jubilation in Riyadh and Abu Dhabi that the Trump administration - or at least the White House - has now come round to their thinking on Iran’s threat to regional security.” In his speech on Tuesday, Trump condemned Iran’s “sinister activities” including backing armed Islamist groups such as Hezbollah in Lebanon and Hamas in the Palestinian Gaza Strip. Abdulaziz al-Sager, head of the Jeddah-based Gulf Research Centre, said the message was significant in that it reflected Gulf concerns. “We’ve always said our concern about this agreement in 2015 was that Iran should not take it as ‘carte blanche’ to go and expand its territorial influence.” Saudi Crown Prince Mohammed bin Salman, who serves as Saudi defense minister, told CBS News in March that his country would “without a doubt” develop nuclear weapons if Iran did so. In an interview with CNN on Wednesday, Saudi Foreign Minister Adel al-Jubeir said: “We have made it very clear that if Iran acquires a nuclear capability, we’ll do everything we can to do the same.” Iran had ruled out renegotiating the accord and threatened to retaliate if Washington withdrew. It could do so by undermining the interests of Washington and its allies in the Middle East, perhaps by increasing support for Yemen’s Houthis. The Saudi Arabia and Emirati forces fighting the Houthis both receive military backing from the United States and other Western allies. “There is a real risk of escalation, especially between Iran and Israel. While the Gulf states may want to see the U.S. and Israel try to cut Iran to size, I don’t think they want to get dragged into a direct confrontation themselves. The consequences could be severe,” said Joost Hiltermann, Program Director, Middle East and North Africa at the International Crisis Group. Additional reporting by Marwa Rashad in Riyadh, Mohammed Ghobari in Aden and Makini Brice in Washington; Editing by Ghaida Ghantous and Angus MacSwan

https://www.reuters.com/article/us-iran-nuclear-gulf-reaction/gulf-arab-allies-jubilant-at-u-s-withdrawal-from-iran-deal-idUSKBN1I93CU

Exclusive: EU set to clear $23 billion UTC, Rockwell Collins deal - sources

May 2, 2018 / 10:45 AM / Updated 3 hours ago Exclusive: UTC set to win EU approval for $23 billion Rockwell Collins deal - sources Foo Yun Chee 3 Min Read BRUSSELS (Reuters) - U.S. aerospace and industrial company United Technologies Corp ( UTX.N ) is set to win EU approval for the largest aerospace deal in history, a $23 billion bid for avionics maker Rockwell Collins ( COL.N ), people familiar with the matter said on Wednesday. FILE PHOTO: United Technologies logo is displayed on a screen at the post where it's stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid/File Photo The deal, announced in September last year, would create a new player in the top echelon of suppliers to Boeing ( BA.N ), Airbus ( AIR.PA ), Bombardier ( BBDb.TO ) and other plane makers. The takeover would give UTC, maker of Pratt & Whitney jet engines, more leverage to resist pressure from plane makers seeking price cuts. Rockwell Collins’ software capability would also give UTC an edge in data crunching that allows airlines to spot problems in engines and other components before they fail. UTC has offered to sell assets to address the European Commission’s concerns, the people said, declining to provide details. Analysts had said the deal could face a bumpier road in the EU than in the United States because of the merged company’s size and market power. The EU competition enforcer, which is scheduled to decide on the deal by May 4, and UTC declined to comment. UTC cleared a hurdle last month after key client Boeing said it had provided consent to the deal after raising initial concerns. Analysts said the combined company could make more than 50 percent of the systems content on a Boeing 787 aircraft by dollar value. A source close to Airbus had told Reuters it had concerns about the merger. Problems at Pratt & Whitney have delayed European aircraft deliveries, and Airbus has publicly warned UTC to focus on delivering jet engines on time. Rockwell Collins’ ( COL.N ) businesses are in avionics, seats and plane interiors. This is the second engines-to-seating supplier deal after French jet engine maker Safran ( SAF.PA ) acquired seat maker Zodiac Aerospace ( ZODFF.PK ) last year. Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek and Elaine Hardcastle

https://www.reuters.com/article/us-rockwell-collins-m-a-utc-eu-exclusive/exclusive-eu-set-to-clear-23-billion-utc-rockwell-collins-deal-sources-idUSKBN1I31BN

Gordon leads four other legends into NASCAR Hall of Fame

In the least surprising racing story of 2018, four-time Monster Energy NASCAR Cup Series champion Jeff Gordon was elected to the NASCAR Hall of Fame on Wednesday in his first year of eligibility. Nov 22, 2015; Homestead, FL, USA; NASCAR Sprint Cup Series driver Jeff Gordon walks off pit road after the Ford EcoBoost 400 at Homestead-Miami Speedway. Mandatory Credit: Jerry Lai-USA TODAY Sports / Reuters Picture Supplied by Action Images But Gordon certainly wasn’t the only worthy choice for the Class of 2019. Team owner Jack Roush, a brilliant innovator who has racked up victories and championships across a broad spectrum of motorsports, will join Gordon when the stellar class is officially ushered into the Hall on Feb. 1, 2019. Team owner Roger Penske, who fostered the Hall of Fame career of driver Rusty Wallace and won his first championship in NASCAR’s top division in 2012 with driver Brad Keselowski, will accompany his fellow Ford team owner into the Hall. Davey Allison, winner of 19 Cup races and one of the brightest stars in the sport before he succumbed to injuries sustained in a helicopter crash at Talladega in 1993, joined his father, Bobby Allison, as a member of the NASCAR Hall of Fame. Alan Kulwicki, whose life was cut short by a plane crash in 1993 less than five months after he became the last driver to win the Monster Energy NASCAR Cup Series championship as a “privateer,” was the fifth member of the Class of 2019 introduced by NASCAR Chairman and CEO Brian France. If ever there was a “lock” for the NASCAR Hall of Fame, Gordon fills that role. Winner of 93 Cup points races — third all-time behind Richard Petty (200) and David Pearson (105) and ahead of Darrell Waltrip (84), Bobby Allison (84), Cale Yarborough (83) and Jimmie Johnson (83) — Gordon drove the No. 24 Hendrick Motorsports Chevrolet for 797 consecutive races from his debut in 1992 until he bowed out of the ride at the end of the 2015 season. Now an analyst for FOX Sports, Gordon won four Cup championships, behind only Petty, Johnson and Dale Earnhardt Sr., who share the series record with seven each. Gordon won three Daytona 500s, four straight Southern 500s and a record five Brickyard 400s in his remarkable career. “Man, I’m on cloud nine,” Gordon said during a televised interview after the announcement. He follows his long-time crew chief Ray Evernham and team owner Rick Hendrick into the Hall. “The significance of being there when Rick was inducted and being a part of it earlier this year with Ray, that’s when it really started to sink in with me about how special it would be,” said Gordon, who was named on a record 96 percent of ballots. “They dedicated their whole lives (to racing), and that’s the thing I see as a common thread of anybody that goes into the Hall of Fame. “They sacrificed everything for racing and for NASCAR, and it became their life. To be honored by going into the Hall of Fame makes it all worthwhile and makes it very, very special.” Roush, who was named on 70 percent of ballots, started his career in drag racing and sports cars but gravitated to NASCAR racing in 1988. An owner with a keen eye for talent, Roush supported the careers of such luminaries as NASCAR Hall of Famer Mark Martin, Kurt Busch, Matt Kenseth, Carl Edwards and Greg Biffle. “When we got started, I was just hoping I could stay in the sport for a while,” said Roush, who won Cup championships in 2003 with Kenseth and 2004 with Busch. “I can’t imagine that my name is up there with the 45 people that have already been inducted, with the things that they’ve accomplished. “It’s rarefied air, and I’ve got to take a while to think about what it all means to me.” In addition to the 2012 Cup championship, Team Penske has won the 2010 NASCAR Xfinity Series title and four of the last five Xfinity Series owners championships. In addition to his NASCAR accomplishments, Penske has won the Indianapolis 500 16 times as an owner. “There were many great candidates,” Penske said in a SiriusXM NASCAR Radio interview after the announcement. “This is my day, and I’ll never forget it.” Wallace was delighted for his former boss. “I don’t know of anyone that has accomplished as much across all levels of motorsports as Roger Penske,” Wallace said. “I don’t know of anyone in motorsports that is as respected among all levels of racing and business as Roger. “He’s my personal mentor and my personal hero. He has helped me immeasurably, both in racing and in business. I can’t say enough about Roger — he’s just an all-around fantastic person.” Penske was named on 68 percent of the ballots submitted by Voting Panel members. Davey and Bobby Allison, the only father/son combination to finish 1-2 in the Daytona 500, are the second father/son duo to be inducted into the NASCAR Hall of Fame, joining Ned and Dale Jarrett. “It’s was a great feeling of happiness, of weakness and everything,” Bobby Allison said of the moment when France announced his son’s name. “I just had to bend over and get a hold of myself. It was really good news.” Davey Allison received 63 percent of the vote from panel members. Kulwicki, who was named on 46 percent of ballots, rallied from a 278-point deficit to win the 1992 series title, edging Bill Elliott by 10 points — then the closest margin in Cup history — after a thrilling season finale at Atlanta in which Davey Allison also had a shot at the championship. Former NASCAR executive and newsman Jim Hunter received the 2019 Landmark Award for Outstanding Contributions to NASCAR. Known for his rapier wit and wise counsel, Hunter was instrumental in guiding the careers of an abundance of current and former NASCAR stars. After his days as sports editor of the Columbia (S.C.) Record, Hunter served as public relations director for both Darlington Raceway and Talladega Superspeedway. He was later named president at Darlington and corporate vice president of International Speedway Corporation, before returning to NASCAR to lead the sport’s PR initiatives. —By Reid Spencer, NASCAR Wire Service. Distributed by Field Level Media

https://www.reuters.com/article/us-motor-nascar-hall-of-fame/gordon-leads-four-other-legends-into-nascar-hall-of-fame-idUSKCN1IP0CD

PRESS DIGEST- Canada-May 8

May 8 (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 Ontario Liberal government is reversing a contentious piece of its new employment legislation around calculating public holiday pay, which business owners argued was both costly and flawed. tgam.ca/2jHi4z8 ** Valeant Pharmaceuticals International Inc plans to change its name to Bausch Health Cos, as management takes another step toward remaking the company and distancing it from past controversies. tgam.ca/2rtkbe8 NATIONAL POST ** A Toronto-area police force is investigating an apparent leak after confidential police documents about an aborted drug arrest were used to try to discredit a man vying to be a candidate for the Ontario Progressive Conservatives. bit.ly/2wkgQDm ** The Canadian Radio-television and Telecommunications Commission has concluded that payphone lines are not an essential service in a country where most people own cellphones. bit.ly/2I639t8 (Compiled by Bengaluru newsroom)

https://www.reuters.com/article/press-digest-canada/press-digest-canada-may-8-idUSL3N1SF484

Hong Kong shares barely changed amid N.Korea, trade worries

* HK->Shanghai Connect daily quota used 0.5 pct, Shanghai->HK daily quota used 1.6 pct * HSI -0.1 pct, HSCE flat, CSI300 -0.8 pct * Pyongyang abruptly called off talks with Seoul May 16 (Reuters) - Hong Kong stocks barely changed on Wednesday, as renewed worries over North Korea and surging U.S. bond yields dampened sentiment in Asian markets. Investors were awaiting news from a second round of U.S.-China trade talks in Washington this week. ** The Hang Seng index ended 0.1 percent down at 31,110.20, while the China Enterprises Index was unchanged at 12,440.12 points. ** Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt. The cancellation could see tension on the Korean peninsula flare again even as investors worry about China-U.S. trade tensions and the sustainability of global economic growth. ** Meanwhile, strong U.S. retail sales and factory data on Tuesday pushed the U.S. 10-year yield through a key level to hit 3.095 percent, its highest since July 2011, raising worries about higher borrowing costs for companies worldwide. ** The sub-index of the Hang Seng tracking energy shares rose 0.3 percent, while the IT sector dipped 0.23 percent, the financial sector was 0.12 percent lower and property sector dipped 0.39 percent. ** The top gainer on Hang Seng was AAC Technologies Holdings Inc up 2.45 percent, while the biggest loser was Wharf Real Estate Investment Company Ltd, which ended 3.40 percent down. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.01 percent while Japan’s Nikkei index closed down 0.44 percent . ** The yuan was Quote: d at 6.3686 per U.S. dollar at 08:30 GMT, 0.06 percent firmer than the previous close of 6.3725. ** As of the previous trading session, the Hang Seng index was up 4.12 percent this year, while China’s H-share index was up 6.2 percent. As of previous close, the Hang Seng climbed 1.12 percent this month. ** The top gainers among H-shares were Air China Ltd up 2.76 percent, followed by Hengan International Group Company Ltd gaining 2.04 percent and China Gas Holdings Ltd up by 2.02 percent. ** The three biggest H-shares percentage decliners were GF Securities Co Ltd which was down 1.70 percent, Byd Co Ltd which fell 1.4 percent and New China Life Insurance Co Ltd down by 1.2 percent. ** About 1.39 billion Hang Seng index shares were traded, roughly 82.5 percent of the market’s 30-day moving average of 1.68 billion shares a day. The volume traded in the previous trading session was 1.62 billion. ** At close, China’s A-shares were trading at a premium of 19.77 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.47 as of the last full trading day, while the dividend yield was 3.1 percent. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

https://www.reuters.com/article/china-stocks-hongkong-close/hong-kong-shares-barely-changed-amid-n-korea-trade-worries-idUSZZN2NAT00

Deutsche Boerse to cut 300 jobs in cost-cutting drive: Handelsblatt

FRANKFURT (Reuters) - Deutsche Boerse AG ( DB1Gn.DE ) plans to cut around 300 jobs as new CEO Theodor Weimer seeks to lower operating costs by 100 million euros ($120 million) through to 2020, Handelsblatt reported on Wednesday. FILE PHOTO: The German share prize index (DAX) board and the trading room of Frankfurt's stock exchange (Boerse Frankfurt) are photographed with a circular fisheye lens during afternoon trading session in Frankfurt, Germany, February 23, 2016. REUTERS/Kai Pfaffenbach/File Photo The business daily, citing unnamed sources familiar with the matter, said Weimer hoped to achieve the headcount reductions by offering older staff buyouts or early retirement. “This will all be cushioned in a socially sensible way,” the newspaper Quote: d one source familiar with the matter as saying. Deutsche Boerse named Wiemer, a former UniCredit banker, as CEO last November after Carsten Kengeter resigned amid an insider trading investigation. Kengeter, who denied wrongdoing, had led talks on merging Deutsche Boerse with the London Stock Exchange ( LSE.L ) that unraveled after Britain’s referendum vote to leave the European Union. Handelsblatt, citing company insiders, said few staff had been offered buyouts while Kengeter was at the helm and there would be willing takers if offers were made now. Deutsche Boerse employs more than 5,640 people. Deutsche Boerse declined to comment on the report. ($1 = 0.8366 euros) Reporting by Douglas Busvine and Tom Sims; Editing by Elaine Hardcastle

https://www.reuters.com/article/us-deutsche-boerse-jobs/deutsche-boerse-to-cut-300-jobs-in-cost-cutting-drive-handelsblatt-idUSKBN1I32FJ

Soccer: Like him or not, Ronaldo is still indispensable for Portugal

LISBON (Reuters) - Love him or loathe him, there is no denying that Cristiano Ronaldo has had a profound effect on Portugal’s national team since making his debut against Kazakhstan in August 2003. Soccer Football - La Liga Santander - Villarreal vs Real Madrid - Estadio de la Ceramica, Villarreal, Spain - May 19, 2018 Real Madrid's Cristiano Ronaldo celebrates scoring their second goal with Gareth Bale REUTERS/Heino Kalis The Madeira-born forward is their captain, free kick and penalty taker, most-capped player and all-time leading scorer with 81 goals in 149 appearances. In his 15 years of international football, he has helped Portugal to one European championship title, a runners-up spot, a semi-final and a World Cup semi-final — a record which puts many bigger nations to shame. Ronaldo has scored for his country in seven major tournaments in a row — the last three World Cups and last four European championships. Even at 33, he was Portugal’s leading scorer in the qualifying campaign for Russia with 15 goals. Funchal’s airport is named after him although the naming ceremony last year was somewhat overshadowed by the unveiling of a statue of Ronaldo which was ridiculed on social media. Dozens of sponsorship deals, where he has endorsed everything from fragrances to watches and clothes to a steel manufacturer, have turned him into one of the world’s richest sportsmen. Always immaculately groomed, the five-times World Player of the Year likes nothing more than to celebrate a goal by lifting up his shirt to show off his rippling muscles. He is usually last to go in a penalty shootout — which allowed him to score the winning kick for Real Madrid in the 2016 Champions League final but meant he missed out altogether in the Euro 2012 semi-final against Spain who won before his turn came. There is sometimes a sense that Ronaldo is both the problem and the solution for Portugal. Although his goals have rescued them on numerous occasions, there is often a feeling that his team would not have got into trouble in the first place if he had not insisted on taking, and wasting, every free kick. He has taken more than 40 free kicks at major tournaments without converting and television pictures often show him remonstrating angrily with his younger team mates when the ball does not reach him. Few in Portugal will say a bad word about him though. When Ronaldo was carried off on a stretcher early in the Euro 2016 final against France — with a moth adding insult to injury by landing on his head — it seemed he was about to be denied the achievement he craved the most. But with Ronaldo urging his team mates on from the touch-line, almost upstaging coach Fernando Santos, Portugal defied the odds to win the final 1-0. And it was Ronaldo who was the first to put his hands on the trophy. Writing by Brian Homewood in Berne; Editing by Peter Rutherford

https://www.reuters.com/article/us-soccer-worldcup-por-star/soccer-like-him-or-not-ronaldo-is-still-indispensable-for-portugal-idUSKCN1IM1NW

UPDATE 1-UK retailer B&M's full-year profit rises 25 pct

(Adds details, new year trading) LONDON, May 30 (Reuters) - British discount retailer B&M European Value reported a 25 percent rise in full-year profit on Wednesday, saying its cheaper offer was winning over customers in a difficult economic environment. The fast-growing company, which finished the year with 576 B&M stores, reported profit before tax of 229.3 million pounds ($304 million) for the 53 weeks to end-March on sales of 2.98 billion pounds, up 22.4 percent. It said categories such as food and groceries, DIY and pet care performed well, but cold weather in March hit demand for its new 2018 spring and summer ranges, taking the shine off what would have been a very strong second half. The company, which also has a German business, said its British stores B&M in the UK, have delivered a “pleasing trading performance” in the early weeks of the new financial year. Excluding the Easter week, it said its UK like-for-like revenue grew 3.1 percent in the first eight weeks of the year. “Whilst there are five weeks still to go to the end of the period, we are confident of a solid outcome for the quarter,” the company said. $1 = 0.7537 pounds Reporting by Paul Sandle; editing by Kate Holton and Sarah Young Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Advertise with Us Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://www.reuters.com/article/bm-european-results/update-1-uk-retailer-bms-full-year-profit-rises-25-pct-idUSL5N1T10ZB

PRESS DIGEST- British Business - May 30

May 30 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Elizabeth Barrett, former head of dispute resolution at Slaughter and May, has been picked by the Financial Reporting Council to run its enforcement division, which is responsible for investigating and prosecuting accountants. bit.ly/2xqtjpl - The co-chief executive of Standard Life Aberdeen Plc has shrugged off criticism of his position on the board of Sky Plc, the satellite broadcaster at the centre of complicated takeover talks, saying that "it isn't as time-consuming as you would think". bit.ly/2H2EyDU The Guardian - Business directors could be personally fined up to 500,000 pounds ($662,750) if they fail to prevent nuisance calls, under a government consultation on the issue. bit.ly/2H0xQyc - The shadow chancellor, John McDonnell, has called on the UK government to use its position as majority shareholder of Royal Bank of Scotland Group Plc to block planned branch closures. bit.ly/2kAh5S4 The Telegraph - Stobart Group Ltd has claimed it rejected a demand from former Chief Executive Andrew Tinkler for an 8 million pounds bonus ­before he launched a boardroom coup attempt, backed by the high-profile fund manager Neil Woodford. bit.ly/2xpRPqI - The new boss of Dixons Carphone Plc blamed his predecessor for the retailer's ailing performance after news of a shock profit warning and plans to shut 92 stores wiped a fifth off its market value. bit.ly/2xoJIKW Sky News - Martin Sorrell is poised to be appointed executive chairman of a listed cash shell called Derriston Capital Plc , only weeks after his departure from one of the world's biggest advertising group WPP Plc. bit.ly/2L7OgaP - Pret A Manger, the UK-based sandwich shop chain, is to be sold to the German-controlled company behind Krispy Kreme doughnuts for 1.5 billion pounds. All 12,000 workers will receive a 1,000 pounds windfall on completion of the sale, which is expected to take place in the summer. bit.ly/2kAcu1S The Independent - Business group EEF has slammed the UK government's 'max fac' Brexit plan, which would see the United Kingdom leaving the customs union but using technology to avoid a hard border with the EU. ind.pn/2L8uvzZ ($1 = 0.7544 pounds) (Compiled by Bengaluru newsroom; Editing by Lisa Shumaker)

https://www.reuters.com/article/britain-press-business/press-digest-british-business-may-30-idUSL5N1T101F

Trump set to sign bill easing post-crisis bank rules after U.S. House passage

May 22, 2018 / 9:50 PM / Updated 8 minutes ago Congress eases post-crisis bank rules in victory for Trump Pete Schroeder , Michelle Price 5 Min Read WASHINGTON (Reuters) - The U.S. House of Representatives passed on Tuesday bipartisan legislation that would ease bank rules introduced in the wake of the 2007-2009 financial crisis, giving President Donald Trump a major legislative victory. U.S. President Donald Trump waves goodbye to South Korea's President Moon Jae-In after their meeting at the White House in Washington, U.S., May 22, 2018. REUTERS/Carlos Barria The vote eases some of the 2010 Dodd-Frank rules that have hurt smaller banks and community lenders and keeps the Republican president’s promise to try to spur more economic growth by cutting regulation, but does little for Wall Street. It is a far cry from the repeal that Trump pledged on the campaign trail, leaving largely untouched the core Dodd-Frank provisions designed to ensure financial stability and other rules most hated by banks and conservative Republicans. But industry lobbyists say Trump’s administration played a key role in getting the bipartisan legislation, which had been under discussion for years, across the finish line. The bill, which was approved by the Senate in March after securing the backing of 17 Democrats, marks the first attempt to revise rules that aimed to prevent a repeat of the crisis that saw Wall Street lenders bailed out to the tune of $700 billion. Republican critics say Dodd-Frank went too far and curbs banks’ ability to lend, hurting economic growth, while many Democrats say it provides critical protections for consumers and taxpayers. Speaking to reporters on Tuesday evening, White House officials hailed the legislation as another “milestone” in the administration’s mission to “revitalise the U.S. economy” by lifting barriers to business. They said Trump aims to sign the bill into law at a formal ceremony within the week. The bill, approved 258-159 in the House on Tuesday, raises the threshold at which banks are considered systemically risky and subject to stricter oversight to $250 billion from $50 billion. It also eases trading, lending and capital rules for banks with less than $10 billion in assets. But it does not weaken the top U.S. consumer watchdog created by Dodd-Frank that has been consistently attacked by Republicans who say it oversteps its mandate. Touching the Consumer Financial Protection Bureau was a red line for Democrats, according to lobbyists. Related Coverage Small banks trump Wall Street on Dodd-Frank rewrite Nor does the bill weaken Wall Street’s obligation to comply with the so-called Volcker Rule banning banks from making risky bets with their own money, or limit the ability of regulators to apply stricter rules to large institutions they deem critical to the financial system. Speaking to Reuters on Tuesday, Democratic U.S. Senator Heidi Heitkamp, a key backer of the bill, said it aimed to fix problems with Dodd-Frank, not to weaken it. “That’s going to improve Dodd-Frank not diminish or begin to erode Dodd Frank,” she added. Still, some larger players secured a handful of niche provisions, most notably the nation’s largest custody banks. The bill will allow the likes of BNY Mellon, State Street Corp and Northern Trust to exclude customer deposits they place with central banks from a stringent capital calculation requirement, potentially offering major capital relief. They were able to successfully differentiate themselves from the Wall Street titans like Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase & Co, in order to win over some sceptical lawmakers, said lobbyists. The draft legislation also offers more favourable treatment for municipal bonds, a measure that analysts say is likely to help Citigroup Inc’s bond-trading business and help lower financing costs on infrastructure projects nationwide. Consumer advocates and Democrats including Senator Elizabeth Warren have warned big banks will exploit these provisions, potentially increasing systemic risk. But independent regulatory experts said the big banks were better off focusing their efforts on the regulatory agencies where Trump’s appointees are better-positioned to cut them material slack. “This is a legislative win for the banks, but the biggest deregulatory bang for the buck is changing the referees, not the rules,” said Dan Ryan, PwC Banking & Capital Markets Leader. “I don’t see any more financial services bills passing the Senate this year,” he said. Reporting by Pete Schroeder and Michelle Price; Editing by Lisa Shumaker and Darren Schuettler

https://uk.reuters.com/article/uk-usa-house-banks/trump-set-to-sign-bill-easing-post-crisis-bank-rules-after-u-s-house-passage-idUKKCN1IN319

Wall Street wants the status quo on trade, says Kevin Kelly

Wall Street wants the status quo on trade, says Kevin Kelly 7:54pm BST - 06:19 Benchmark Investments' CEO talks about the prospects for trade with Reuters' Fred Katayama just as the U.S. launches a second round of trade talks with China and Washington faces a deadline on a new NAFTA deal. ▲ Hide Transcript ▶ View Transcript Benchmark Investments' CEO talks about the prospects for trade with Reuters' Fred Katayama just as the U.S. launches a second round of trade talks with China and Washington faces a deadline on a new NAFTA deal. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2L6qPiG

https://uk.reuters.com/video/2018/05/17/wall-street-wants-the-status-quo-on-trad?videoId=427830916

US STOCKS-Wall St climbs on easing U.S.-China trade tensions

* Optical components makers rise after Trump’s ZTE decision * NXP jumps on report China resumes Qualcomm deal review * Xerox falls after scraping $6.1 bln deal with Fujifilm * Indexes up: Dow 0.49 pct, S&P 0.46 pct, Nasdaq 0.59 pct (Updates to open) By Sruthi Shankar May 14 (Reuters) - Wall Street indexes rose on Monday, helped by gains in technology stocks after President Donald Trump softened his stance on Chinese technology company ZTE Corp, signaling easing U.S.-China trade tensions. Trump on Sunday pledged to help ZTE “get back into business, fast” nearly a month after the U.S. Commerce Department banned American companies from selling to the firm for violating an agreement. Trump’s comments came ahead of trade talks between Chinese Vice Premier Liu He and U.S. officials this week to resolve escalating trade disputes and drove big gains in the shares of U.S. suppliers to ZTE. Optical components maker Acacia Communications jumped 16.1 percent, while Oclaro and Lumentum Holdings rose 5.8 percent and 3.6 percent, respectively. “Some of the headlines point to signs that Trump might be watering down his tough talks on trade,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Also helping the mood was news that China had resumed its review of chipmaker Qualcomm’s proposed $44 billion takeover of NXP Semiconductors. NXP surged 10.3 percent and Qualcomm 3.3 percent. The Philadelphia semiconductor index was up 1.9 percent. At 9:55 a.m. ET, the Dow Jones Industrial Average was up 120.76 points, or 0.49 percent, at 24,951.93, the S&P 500 was up 12.45 points, or 0.46 percent, at 2,740.17 and the Nasdaq Composite was up 43.40 points, or 0.59 percent, at 7,446.28. The indexes posted solid gains last week, helped by a surge in oil prices, easing inflation fears and Apple’s rally that took the iPhone maker close to $1 trillion in market capitalization. The S&P 500 and the Dow Jones Industrial Average were trading above their 100-day moving averages, a key technical level that many traders believe is a sign that markets could gain further. “It looks like the markets want to move up, and there seems to be a rosier outlook for geopolitics especially North Korea,” Cardillo said. U.S. Secretary of State Mike Pompeo said on Sunday that Washington would agree to lift sanctions on North Korea if the country agrees to completely dismantle its nuclear weapons program. Nine of the 11 major S&P sectors were higher, with technology and energy sectors leading the gains. Exxon rose 1.1 percent after Citigroup raised its price target on the stock. The biggest decliner was Xerox, which tumbled 7.9 percent after the U.S. photocopier giant scrapped a planned $6.1 billion deal with Fujifilm Holdings. Advancing issues outnumbered decliners by a 2.39-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 2.04-to-1 ratio on the Nasdaq. The S&P index recorded 21 new 52-week highs and two new lows, while the Nasdaq recorded 73 new highs and 15 new lows. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva) Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Reuters Plus Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

https://www.reuters.com/article/usa-stocks/us-stocks-wall-st-climbs-on-easing-u-s-china-trade-tensions-idUSL3N1SL5BH

360 Group International Names Savage as CEO

BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- Strategic private security firm 360 Group International, Inc. today announced that Lorenzo Robert Savage III, a retired senior executive with the U.S. Secret Service, has been named CEO of the company effective immediately. Bill Kirkpatrick, founder of 360 Group and former CEO, will remain President of the firm. Kirkpatrick said bringing Savage to the company “represents a key strategic development in advancing and expanding the mission of 360 Group International. The company’s ongoing growth and strength of reputation is the result of acquiring some of the most senior-level and experienced security experts in the world combined with best-in-class service to our customers.” Under Mr. Savage’s leadership, 360 Group International is expanding or enhancing its capabilities in many security areas, including cybersecurity assessment and threat analysis. In his prior role, Mr. Savage oversaw the multi-jurisdictional Los Angeles Electronic Crimes Task Force. “During a time when demands are increasing for comprehensive security and protection for events, individuals and corporations, I can’t think of a better person than Mr. Savage to lead 360 Group International,” Kirkpatrick said. Mr. Savage most recently served as Special Agent in Charge of the Los Angeles Field Office after being appointed to the Senior Executive Service. In this role, he oversaw all Secret Service protective, investigative and intelligence investigations, tactical operations, and administrative programs while maintaining optimal security and safety levels for the third largest of the Secret Service’s 42 field offices. Mr. Savage began his Secret Service career in 1993 as a special agent assigned to the Washington Field Office and since then has steadily risen through the ranks. He has served in numerous managerial assignments, including directing the inner security perimeter for President George W. Bush. Mr. Savage received the U.S. Department of Homeland Security Secretary’s Award of Excellence as the event coordinator for the 2011 Asia-Pacific Economic Cooperation Leaders’ Meeting comprised of 21 World Leaders, including the President of the United States, held in Hawaii. Based in Beverly Hills, 360 Group International is considered a premier protection and security agency. The company’s senior leadership team includes some of the country’s most experienced and respected law enforcement and security professionals, many of whom have been involved in international diplomatic security, federal law enforcement task forces, surveillance and counter-intelligence operations and other high-level security matters. The company consistently tailors its risk assessment programs to accommodate and forecast its clients’ security concerns. Specialized, coordinated risk assessments by 360 Group International help identify, understand, and counter threats to corporate entities, executives and high net worth individuals and families. The company is proud of its highly-trained security personnel and the ability to provide the highest caliber of service to clients worldwide. They provide services to domestic and international organizations that require either operational security services or individually tailored training packages. Mr. Kirkpatrick’s leadership contributed to 360 Group’s significant growth in recent years. Separating the CEO and President responsibilities will allow Mr. Savage to focus on strategic initiatives and expansion of services. As President, Mr. Kirkpatrick will work closely with Mr. Savage to further expand the company’s strategic capabilities. Mr. Kirkpatrick will continue to direct key staff and assignments for threat assessment analysis, investigations, rapid response reaction and event security. During his tenure, Mr. Kirkpatrick routinely coordinated with the U.S. Secret Service, military and law enforcement officials, as well as foreign government agencies that protect heads of state and other officials. He managed thousands of protective details for the world’s most prominent public figures. About 360 Group International 360 Group International is an elite security firm providing corporate and executive protection, event security, threat assessments and security consulting to individuals, companies and government agencies around the world. The team includes former law enforcement professionals, military specialists and members of the intelligence community with the experience, international resources and training for current and emerging areas of security. Call 1-888-365-4360 for more information. Full bios and additional information can be found at: www.360groupintl.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20180530005563/en/ Fraser Communications Denis Wolcott, 213-200-1563 dwolcott@frasercommunications.com Source: 360 Group International

http://www.cnbc.com/2018/05/30/business-wire-360-group-international-names-savage-as-ceo.html

Exclusive: Malaysian police raid apartments linked to ousted PM Najib's family

KUALA LUMPUR (Reuters) - Police on Saturday raided a deluxe Kuala Lumpur apartment block at which relatives of ousted Prime Minister Najib Razak had been staying as they searched for sensitive documents the new government fears may be taken out of the country, two senior police officers said. Ousted Malaysian Prime Minister Najib Razak speaks during a news conference in Kuala Lumpur, Malaysia May 12, 2018. REUTERS/Stringer The swoop came as Malaysia’s new Prime Minister, Mahathir Mohamad, said he had stopped his predecessor from leaving the country because of suspected wrongdoing in connection with a multi-billion-dollar scandal at state fund 1MDB. Police said they were acting after a complaint that a government vehicle had delivered dozens of boxes made to carry designer handbags and other items to the apartment for Najib’s wife, Rosmah Mansor. Public disgust over alleged corruption was widely seen as one of the reasons behind the unexpected defeat of Najib’s long-ruling Barisan Nasional coalition in Wednesday’s general election. Najib has consistently denied any wrongdoing. A spokesman for Najib could not be immediately reached for comment. Reuters was unable to reach Najib himself, his wife, or other family members and close associates on Saturday night. Reuters saw about 20 police officers enter the marble-floored lobby of the Pavilion Residences apartment block in the Malaysian capital, just as Mahathir was holding a news conference to announce key members of his cabinet. They were aided by at least a dozen other plainclothes law-enforcement officers. Security personnel from the building - which is owned by Desmond Lim, a wealthy Malaysian businessman and supporter of Najib - were cooperative. “We are looking for government documents that may have been illegally taken,” said a senior police officer, who requested anonymity as he was not authorized to talk to the media. “The government are worried they could be sensitive and important, and could be taken out of the country.” He declined to say whether any documents had been found and described the operation as “ongoing”. According to the police, members of Najib’s family had been staying at the apartments, but they declined to name them. ORANGE BOXES The police action followed a complaint lodged by two leaders of the youth wing of Mahathir’s political party, Bersatu. The police report of the complaint, reviewed by Reuters, alleges that vans emblazoned with the logo of the department of the prime minister and cabinet delivered boxes for 50 Birkin handbags to Pavilion Residences on Thursday evening. The report alleged that the boxes showed the name of the consignee as Rosmah Mansor. Two photos provided with the report and reviewed by Reuters showed a van with the department’s logo and a shopping trolley filled with orange boxes. The location, the date and the contents of the boxes - including whether there were any of the handbags inside - could not be ascertained from the photos. The Birkin handbags concerned would cost $200,000 each, the complaint said. The senior police officer only confirmed “family members” of Najib had stayed in the apartment complex when Reuters asked if Rosmah had stayed there. Another officer involved in the operation described the persons of interest as “VVIPs”, or very, very important persons. Both police officers said investigators were not primarily interested in the luxury items but were chasing documents that could be vital for investigations into Najib’s administration. ANNOUNCED OVERSEAS TRIP Kuala Lumpur’s police chief and an official police spokeswoman did not respond to requests for comment. Najib said earlier on Saturday that he was going abroad for a week to rest, but just minutes later the Department of Immigration announced that he and his wife had been barred from leaving the country. Mahathir, who was sworn in as prime minister on Thursday, has vowed to probe the loss of billions of dollars from state fund 1Malaysia Development Berhad (1MDB), which was founded by Najib. U.S. Department of Justice documents allege that $681 million from 1MDB was transferred to the personal account of a person identified as Malaysian Official One, which U.S. and Malaysian sources have confirmed was Najib. Najib has said the deposit was a donation by an unnamed member of the Saudi royal family which had been largely returned. Reporting by Tom Allard; Editing by John Chalmers and Martin Howell Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/us-malaysia-politics-raid-exclusive/exclusive-malaysian-police-raid-apartments-linked-to-ousted-pm-najibs-family-idUSKCN1ID0LF

Zenergy Brands Inc. Announces Election of New Board Member and Key New Addition to Executive Leadership Team

Dallas, TX, May 03, 2018 (GLOBE NEWSWIRE) -- Zenergy Brands, Inc. (OTCQB: ZNGY), the nation's leading next-generation utility announced today it has elected Mr. Joshua Campbell to its Board of Directors and is also adding a new member to the executive leadership team, energy industry veteran, Mr. Chris Crabtree. Since joining the company mid-2017, Mr. Campbell has served Zenergy as its Senior Vice President of Operations but will now transition out of that role to assume his new role and formal title of Senior Vice President of Administration & Planning. In this new capacity, Mr. Campbell will be responsible for all of the Company’s compliance, regulatory filings, long-term planning, interacting with critical vendors, and some back-office functions. “It is truly an honor and a privilege to have been elected to Zenergy’s Board of Directors, a development I am humbled by and grateful for,” said Joshua Campbell, Zenergy’s newly elected Board member and Senior Vice President of Administration & Planning. “From day one, I embraced Zenergy’s vision and potential to be a game-changer in this industry. Today, I go to work each day with that same fervent belief that we can fulfill our mission of being the nation’s leading next-generation utility. I am excited to be a part of the veteran leadership team driving this aspiration forward.” As part of this transition, the Company is also pleased to welcome Mr. Chris Crabtree who will be starting in his new role as Zenergy’s Senior Vice President of Operations, reporting directly to the CEO, effective June 1st. Mr. Crabtree, a Six Sigma Strategic Operations and Risk Management leader, boasts extensive experience in project management, directing complex operations, developing strategies and leading and motivating high-performance teams to advance critical initiatives while efficiently controlling costs and capturing ongoing savings. Some of his relevant experiences include driving vendor reduction, efficiency generation, and Lean Six Sigma improvements, having managed budgets and P&L responsibility for global business units resulting in savings exceeding several millions of dollars. He also actively directed operations with full budget responsibility for six major operational units, including Customer Enrollment, Service and Maintenance, Customer Care, Credit and Collections, and Retention for all North American Markets. Adept at cultivating partnerships and building lasting relationships, Mr. Crabtree has led a high-performance team of seven direct reports and a total team of up to 128 administrative and internal call-center employees and two outsourced call centers with more than 180 employees. Cumulatively, Mr. Crabtree possesses 22 years of business experience and 17 years of energy industry experience. “I am delighted by the opportunity to join Zenergy’s executive leadership team of industry veterans. I have been following the company closely since its inception and have been encouraged by the progress they have made, “said Chris Crabtree, Zenergy’s new Senior Vice President of Operations. “I can hardly wait to roll up my sleeves and apply my work ethic and contribute my expertise to help fulfill Zenergy’s objectives.” Zenergy CEO, Mr. Alex Rodriguez, said, “I am very excited to welcome Mr. Chris Crabtree to Zenergy. I have had the pleasure of knowing Mr. Crabtree a long time and the privilege of enjoying a good working relationship with him. His in-depth expertise in operations and overall pedigree speak for themselves and I have the utmost confidence in his ability to provide the right leadership to deploy and lead a very scalable operation.” Zenergy encourages all shareholders and potential investors to subscribe to its corporate newsletter at www.zenergybrands.com to remain apprised of all major news and updates. ABOUT ZENERGY BRANDS, INC. Zenergy Brands, Inc. (OTCQB: ZNGY), is a next-generation energy and technology company operating in the emerging smart energy, conservation, and utility industries. The Company provides energy conservation, smart controls, and efficiency-based products and services as a fully integrated energy company. Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCQB, a venture market designed for early-stage and developing U.S. and international companies. To learn more, visit www.zenergybrands.com or www.whatsizenergy.com , and follow the company’s social media accounts via the links below: Facebook: Zenergy Brands Twitter: @ZenergyBrands Instagram: @ZenergyBrands YouTube: Zenergy Brands FORWARD-LOOKING STATEMENTS This press release may contain The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the company's current expectations and are subject to some risks, uncertainties, and assumptions. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the critical factors that could cause actual results to differ significantly from those by such forward-looking statements are risks detailed in the company's filings, which are on file at www.OTCmarkets.com . INVESTORS & MEDIA CONTACT: Email: investors@zenergybrands.com Phone: (469) 228-1400 Fax: (469) 626-5101 Source:Zenergy Brand, Inc.

http://www.cnbc.com/2018/05/03/globe-newswire-zenergy-brands-inc-announces-election-of-new-board-member-and-key-new-addition-to-executive-leadership-team.html

Trump weighs 10 percent cut in EU steel, aluminium exports to U.S.- WSJ

May 22, 2018 / 9:02 PM / Updated 19 minutes ago Trump weighs 10 percent cut in EU steel, aluminium exports to U.S.- WSJ Reuters Staff 2 Min Read (Reuters) - U.S. President Donald Trump is considering trade measures to cut EU steel and aluminium exports to the United States by about 10 percent, in a sign that Brussels’ concessions to secure tariff exemptions have not met White House demands, the Wall Street Journal said, citing EU officials familiar with the talks. U.S. President Donald Trump looks at a photographer after a meeting with South Korea's President Moon Jae-In at the White House in Washington, U.S., May 22, 2018. REUTERS/Carlos Barria Washington proposed two options for the European Union, a quota fixed at 90 percent of U.S. imports from the bloc in 2017 and a tariff-rate quota that would target the same 10 percent reduction via levies, the Journal quoted Poland's Entrepreneurship and Technology Minister Jadwiga Emilewicz as saying after EU governments discussed U.S. trade relations on Tuesday. on.wsj.com/2J1azkS Trump has set tariffs of 25 percent on incoming steel and 10 percent on aluminium on grounds of national security but has granted EU producers an exemption until June 1 pending the outcome of the talks. EU proposals to open its markets wider to U.S. products, including cars, appear not to have persuaded Washington to lift the threat of import tariffs on EU steel and aluminium, the EU Trade Commissioner Cecilia Malmstrom said earlier on Tuesday. Reporting by Ismail Shakil in Bengaluru; Editing by Gareth Jones

https://uk.reuters.com/article/uk-usa-trade-eu-quotas/trump-weighs-10-percent-cut-in-eu-steel-aluminium-exports-to-u-s-wsj-idUKKCN1IN2XX

UPDATE 1-Suzanne Scott to head Fox News

May 17, 2018 / 4:08 PM / in 3 minutes Suzanne Scott to head Fox News Reuters Staff 2 Min Read (Reuters) - Suzanne Scott on Thursday was named as the chief executive officer of Twenty First Century Fox Inc’s ( FOXA.O ) Fox News Channel and Fox Business Network. FILE PHOTO: A Fox News channel sign is seen on a television vehicle outside the News Corporation building in New York City, in New York, U.S. November 8, 2017. REUTERS/Shannon Stapleton Scott, who will be the first woman to head Fox News, was most recently president of programming at both networks. Rupert Murdoch took charge of Fox News following the exit of Roger Ailes over sexual harassment charges. Ailes, who started Fox News in 1996, had turned the network into a booming voice for conservatives. He passed away in May 2017. Scott will report to Rupert Murdoch, Twenty First Century Fox’s Executive Chairman and Lachlan Murdoch, chairman of Twenty First Century Fox, and the chairman and CEO of the proposed New Fox following Twenty First Century Fox’s deal with Walt Disney Co ( DIS.N ). Fox agreed last year to sell the bulk of its film and TV assets to Disney in a $52.4 billion stock deal. The new Fox will include its news divisions, Fox sports, Fox television stations group, Fox Broadcasting Co and sports cable networks. Fox News on Thursday also named Jay Wallace as its executive editor and president. (This version of the story corrects paragraph 3 to say Rupert Murdoch took charge of Fox News after Ailes exit, removes reference to him being acting CEO in paragraph 2) Reporting by Laharee Chatterjee in Bengaluru; Editing by Maju Samuel and Sriraj Kalluvila

https://www.reuters.com/article/us-twenty-first-century-fox-moves-scott/suzanne-scott-to-head-fox-news-idUSKCN1II2D1

UK's Corbyn joins London workers' march for better pay

LONDON (Reuters) - British opposition leader Jeremy Corbyn joined thousands of workers marching through central London on Saturday to demand a “new deal” on working conditions and an end to what the organizers called the worst pay squeeze in modern history. Demonstrators march in a public sector workers protest, organised by the Trades Union Congress (TUC), as part of its ‘A New Deal for Working People’ campaign, in central London, Britain May 12, 2018. REUTERS/Toby Melville The Trades Union Congress used the march to call for a higher minimum wage, improved job security and investment in public services as it released research saying that wages were still worth less in real terms than before the financial crisis. “This demonstration today is about workers rights, it is about collective endeavor but above all, it’s a declaration that we’re around to campaign as long as it takes, to bring about that social justice and that decency in society,” Corbyn told the rally. The TUC said real wages were not forecast to return to their pre-financial crash levels until 2025. It said that would mark the worst period of wage stagnation for two centuries. Slideshow (4 Images) “It’s taking wages longer to recover from this crash than from the Great Depression and Second World War,” TUC General Secretary Frances O’Grady said. Labour’s Corbyn told the rally a Labour government would increase training for young workers, build more homes, nationalize some sectors and give workers a greater say in how their companies are run, including whether they should be sold. Prime Minister Theresa May’s government says it has boosted the pay of the lowest workers, increased employment and has invested in skills and training. “Thanks to the hard work of the British people, our economy is at a turning point with inflation falling, unemployment at a 40-year low and debt due to start its first sustained fall in a generation,” a spokesman for the Treasury said. Reporting by Kate Holton; Editing by Angus MacSwan

https://www.reuters.com/article/us-britain-politics/uks-corbyn-joins-london-workers-march-for-better-pay-idUSKCN1ID0NV

Heidrick & Struggles Promotes European Leader to Global Chief Marketing Officer

CHICAGO and LONDON, Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, leadership assessment and development, organization and team effectiveness, and culture shaping services globally, has appointed Corinna Christophorou as Senior Vice President and Chief Marketing Officer. Based in London, Christophorou has been working as Vice President for Market Development with Heidrick & Struggles in Europe and Africa. She has led the firm's business development, communications and marketing activities in the region for over three years. Previously, she has held senior leadership roles with global professional services firms, focusing on improving performance and profitability. Christophorou has played an instrumental role in driving strong growth and elevation of the brand in Europe and Africa, working closely with Regional Managing Partner, Luis Urbano and the European Leadership team. "Heidrick & Struggles has a long heritage of growing internal talent and Corinna's appointment as Chief Marketing Officer exemplifies this. Corinna's outstanding track record in business development and brand building brings renewed focus to the role. Having this key leadership role based in London underscores the firm's global credentials," said Mike Cullen, Chief Operating Officer. About Heidrick & Struggles Heidrick & Struggles (Nasdaq: HSII) serves the executive talent and leadership needs of the world's top organizations as a premier provider of executive search, leadership assessment and development, organization and team effectiveness, and culture shaping services globally. Heidrick & Struggles pioneered the field of retained executive search 65 years ago. Today, the firm serves as a trusted advisor, providing integrated leadership solutions and helping its clients change the world, one leadership team at a time. For more information about Heidrick & Struggles, please visit www.heidrick.com . Media Contacts: Chiara Pierdomenico +44 (0)20 7075 4236 cpierdomenico@heidrick.com Alex Brown - +1 312.496.1871 abrown@heidrick.com View original content with multimedia: releases/heidrick--struggles-promotes-european-leader-to-global-chief-marketing-officer-300656984.html SOURCE Heidrick & Struggles

http://www.cnbc.com/2018/05/31/pr-newswire-heidrick-struggles-promotes-european-leader-to-global-chief-marketing-officer.html

UPDATE 1-Golf-Day gets wet, but leads Wells Fargo by two strokes

May 5, 2018 / 11:13 PM / in 3 hours UPDATE 2-Golf-Leader Day gets feet wet at Wells Fargo Reuters Staff * Australian plays shot with feet in creek * Uihlein fires 62, one off course record * Woods has 68 to stand nine strokes back (Adds quotes) May 5 (Reuters) - Jason Day needed to get his feet wet at the final hole to salvage a four-under-par 67 and take a two-stroke lead after the third round of the Wells Fargo Championship in North Carolina on Saturday. The Australian took off his shoes and socks and stood in a small creek to play a shot to the green at the 18th before coming through with a par putt to stand at 10-under 203, two strokes ahead of Nick Watney (66). Tiger Woods, who has struggled with his putting this week, was nine strokes off the lead after a 68 while Rory McIlroy rebounded from his 76 on Friday by going 10 strokes lower to sit seven off the lead. Day struggled to get going but four birdies in six holes on the back nine saw him break free of the pack. “It was a bit of a struggle through eight holes,” the former world number one told CBS television. “Then a nice shot into the ninth hole for a tap-in birdie and a good drive down 10 kind of really started getting things in the right direction.” Rookie Aaron Wise had tracked Day for most of the afternoon but bogeys on two of his last three holes dropped him into a tie for third with Peter Uihlein, who narrowly missed the course record with a nine-under 62, Bryson DeChambeau (66) and Englishman Paul Casey (69). Phil Mickelson also took advantage of the softer greens to shoot a seven-under 64 and move into 10th at five-under 208. Woods picked up six birdies to reach one-under 212 but finished the round on a sour note with a three-putt bogey on 18. The former world number one had moved to four under with three consecutive birdies from the 13th. “I was so close to shooting about seven, eight-under today,” he told reporters. “I still didn’t have enough pace on a couple that I left on the lip. “I’m close, I’m hitting the ball well enough to contend, to win this golf tournament, but I just haven’t made putts.” Uihlein had five consecutive birdies from the fifth, an eagle at 10 and added two more birdies at the 14th and 15th as he missed McIlroy’s 2015 Quail Hollow record by one shot. “The way the golf course was set up today it felt like you could get after it a bit,” he said. “It played a little easier than it did the first two days.” McIlroy, at three-under 210, had four birdies in a row before also bogeying the last. “I’m just not that comfortable with anything right now,” McIlroy told Golf Channel. “I’m trying really hard to hit it in the fairway and then trying really hard to get my irons on line. It’s all just a little bit of a struggle.” Reporting by Gene Cherry in Raleigh,

https://in.reuters.com/article/golf-wellsfargo/update-1-golf-day-gets-wet-but-leads-wells-fargo-by-two-strokes-idINL3N1SC08N

Early ECB bank loan repayments loom, threaten to raise borrowing costs

May 24, 2018 / 3:12 PM / Updated 6 minutes ago Early ECB bank loan repayments loom, threaten to raise borrowing costs Dhara Ranasinghe 6 Min Read LONDON (Reuters) - Already facing a likely growth slowdown, the euro zone risks a sudden tightening of financial conditions next month should banks across the bloc use the opportunity to repay billions of euros in cheap loans taken from the European Central Bank. European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach Such repayments could in turn boost the euro and the bloc’s borrowing costs, an unwelcome development for policymakers after data this week signalled economic growth probably failed to pick up in the second quarter of the year. June brings the first early repayment date for almost 400 billion euros ($471 billion) of targeted long-term refinancing operations (TLTROs), designed by the European Central Bank to encourage lending to the real economy. A first series of TLTROs was launched in 2014, and a second in 2016. They provided banks with interest-free funding and even the possibility of a rebate if they lent the cash on to businesses and households. The loans had a four-year maturity, with a quarterly option to repay early from two years after the loan was taken out. Early repayments for the first series of TLTROs fell due in 2016 and most of those loans were rolled over into the second series, analysts said. According to Swedish bank Nordea, early TLTRO repayments in June could top 110 billion euros. That estimate is based on a comparison with 2013, when unexpected early repayments of a previous series of cheap three-year loans totalling 137 billion euros offered by the ECB to help fight the euro zone debt crisis caught markets by surprise. Graphic: The ECB's balance sheet - reut.rs/2Lq5j8W Other banks’ estimates put the expected figure for next month in the region of 100 billion euros. The ECB declined to comment on repayment expectations. Peter Kinsella, head of currency and rates strategy at CBA, sees two reasons why banks will repay a sizeable portion of the TLTRO loans. First, they no longer require the same degree of central bank support. CBA estimates that the average Tier 1 equity ratio, a measure of a bank’s financial strength, is around 14 percent versus 8 percent before the 2008 financial crisis. The recovery in euro zone banks was highlighted by first quarter earnings — 85 percent of banks in the MSCI EMU index met or beat analyst expectations, according to I/B/E/S data. Second, CBA says that because various regulatory levies faced by banks are proportional to the size of their balance sheets, early repayment of ECB loans will help reduce that balance sheet and in turn potential charges. “If euro zone banks voluntarily repay a significant proportion ... we anticipate front-end euro zone yields may lift aggressively, because the early repayment implies a tightening of monetary conditions,” said Kinsella. European Commission data shows euro area monetary conditions have already tightened in recent months, partly because of the euro’s strength at the start of 2018 and throughout last year. A further tightening could take investors by surprise. German two-year bond yields remain deeply negative, at minus 0.61 percent DE2YT=RR. Some strategists said that while early TLTRO repayments was not their base-case for June, this could happen in September — the banks’ next opportunity to pay back the ECB early. Traders say there were few immediate concerns about early loan repayments being made — especially since interest rates at minus 0.4 percent for two more years under the TLTRO remain attractive, and potentially shelter banks from a rate rise over that period. Also, many banks are believed to be still assessing what they might do. One strategist said it made financial sense for banks to start repaying these loans only when the maturity of the loans drops to a year because after that they become less attractive to hold. Also, even if banks decide to repay their loans early, the ECB will still continue its 30 billion euros a month of bond purchases until September at least. That means its balance sheet will still be expanding and pumping cash into the economy. For Nordea chief analyst Jan von Gerich, though, these ECB purchases may not be big enough to offset the impact of early TLTRO repayments. “Given that the ECB is on the final stretch of its net bond purchases, the remaining bond purchases may never be able to compensate for the flow of early TLTRO repayments,” he said. “The ECB’s balance sheet could start to contract well before the first rate hike and even before the end of the net bond purchases.” This would stand in contrast to the U.S. Federal Reserve, which did not let its balance sheet start contracting until more than 1-1/2 years after its first post-crisis rate hike, he said. For others, the incentive to pay back loans early was linked to facing up to the reality of the changing monetary policy backdrop globally. “This is not an issue for right now, but it could be later in the year as central banks globally tighten their policies — essentially the unwinding of global QE,” said Patrick O’Donnell, investment manager at Aberdeen Asset Management. Reporting by Dhara Ranasinghe; Sujata Rao and Kit Rees in LONDON and Balazs Koranyi in FRANKFURT; Editing by Catherine Evans

https://uk.reuters.com/article/uk-eurozone-tltros-ecb-analysis/early-ecb-bank-loan-repayments-loom-threaten-to-raise-borrowing-costs-idUKKCN1IP2OI

Prisyna Receives FDA 510(k) Clearance for MoisynTM Product Line to Treat Dry Mouth

-- Company’s innovative glycomics technology now addresses large population suffering from xerostomia -- CLAREMONT, Calif.--(BUSINESS WIRE)-- Prisyna, the oral care division of Synedgen, founded to optimize oral health using advanced, proprietary glycomics technology, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its family of Moisyn™ products designed to treat xerostomia. Xerostomia (also known as dry mouth, or dry mouth syndrome) is an unpleasant and challenging oral health condition that occurs when there is a decrease in the presence of saliva. Dry mouth affects a large percentage of the adult population, and as much as half of the elderly population in the United States. The symptoms of dry mouth significantly impact patient quality of life and often cause difficulty in chewing, swallowing and speaking, and can result in dry, thick oral mucus, painful oral tissues, bad breath, and sleep disturbance. “With the FDA clearance for Moisyn products, patients will have access to a new treatment that can alleviate the symptoms of dry mouth and improve their oral health,” said Leo Pranitis, General Manager of Prisyna. “We are now able to offer patients an innovative new option for treating xerostomia using the first glycomics targeted therapy that has been shown in a clinical study to reduce pain and increase comfort. Data from this clinical study further validates our vision to bring better outcomes to the oral healthcare community through our glycomics technology.” In a clinical study where patients used Moisyn up to four times daily, statistically significant reductions occurred in symptoms associated with dryness, ability to eat and swallow, mouth sensation and taste. Key symptoms treated by Moisyn included reduced mouth pain, improved ability to sleep, and improved sense of taste. As a result of treatment with Moisyn, patients in the study reported a reduction in food becoming lodged in the throat due to dryness and a change in the saliva thickness, positively affecting food choices as well as the quality of sleep. i “Xerostomia, or dry mouth, is a challenging and frustrating oral health care issue that affects up to 20 percent of the adult population and nearly 50 percent of the elderly population in the U.S.,” said Joel Epstein, DMD, MSD, and principal investigator of a Moisyn clinical study. “Many of these patients have medical conditions such as autoimmune diseases or diabetes that can cause dry mouth, and dry mouth may be seen in people being treated for diseases such as cancer or as a side effect of certain medications. For patients living with xerostomia Moisyn can relieve the symptoms of dry mouth and could be an important contribution to overall oral health.” About Xerostomia (Dry Mouth) Xerostomia, or dry mouth, causes dryness in the oral cavity, most commonly the tongue and roof of the mouth. Typically, it is identified by a reduction or absence of oral saliva and can be brought on by a variety of conditions, including aging. Over 1000 prescription and non-prescription medications, including drugs for treating anxiety, depression, high blood pressure, allergies, and cancer are known to alter the production of saliva and cause dry mouth as a side effect. Common problems stemming from dry mouth include tooth decay, disturbed sleep, dry throat, burning sensation in the throat, gum disease, oral infections, taste change, and difficulty speaking and swallowing. About Prisyna Prisyna, the oral healthcare division of Synedgen, is developing and commercializing a new class of oral health care products based on glycomics, a revolutionary approach using natural glycopolymers to target the mucosal interface. Prisyna uses this unique technology to develop oral health care products that clean the mouth, reduce pain and irritation on sensitive mucosal surfaces and improve overall oral health. Prisyna is building a family of environmentally safe products using cutting edge science to promote healthy teeth, gums and oral surfaces. http://www.prisyna.com/ i Oral Surg Oral Med Oral Pathol Oral Radiol. 2017 Jan;123(1):76-83. doi: 10.1016/j.oooo.2016.09.008. Epub 2016 Sep 28. View source version on businesswire.com : https://www.businesswire.com/news/home/20180509005436/en/ MacDougall Biomedical Communications Amanda Houlihan, 781-235-3060 ahoulihan@macbiocom.com Source: Prisyna

http://www.cnbc.com/2018/05/09/business-wire-prisyna-receives-fda-510kaclearance-for-moisyntm-product-line-to-treat-dry-mouth.html

GAMCO Adds to Research and Portfolio Management Team

RYE, N.Y.--(BUSINESS WIRE)-- GAMCO Investors, Inc. (“GAMCO” or the “Company”) (NYSE:GBL) today announced the addition of the following teammates to its research and portfolio management process: Analyst/PM Coverage Area G. Anthony Bancroft Environmental/Aerospace Sergey Dluzhevskiy, CFA Telecom Sarah Donnelly Consumer Staples Jose Garza Industrials A. Carolina Jolly, CFA Automotive Aftermarket Chong-Min Kang Global Equities Brian Sponheimer Automotive & Capital Equipment Adam Trivison Gaming & Lodging/Payment Technologies Jennie Tsai Medical Devices Timothy M. Winter, CFA Utilities Sara Wojda Diagnostics ABOUT GAMCO INVESTORS, INC. GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.) and mutual funds and closed-end funds (Gabelli Funds, LLC). As of December 31, 2017, GAMCO had $43.1 billion in assets under management. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this release, including without limitation the anticipated consummation and successful completion of the Offer (including the extension of the expiration date and satisfaction of the conditions described in the Offer to Purchase) and the possible amendment, further extension or abandonment of the Offer, contain information that may constitute “ ” the Private Securities Litigation Reform Act of 1995. Generally, the use of terms such as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “assumes” and similar expressions identify . All statements that address operating performance, events or developments that GAMCO expects or anticipates will occur in the future are . Although we believe that the expectations set forth in the are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous uncertainties and risks. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may differ materially from those set forth in the . In accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, GAMCO has included in its Annual Report on Form 10-K for the year ended December 31, 2014, and subsequent Forms 10-Q and 8-K, cautionary language identifying other important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the . Any speak only as of the date of this press release. GAMCO expressly disclaims any obligation to release publicly any updates or revisions to any contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. View source version on businesswire.com : https://www.businesswire.com/news/home/20180501005528/en/ GAMCO Investors, Inc. Douglas R. Jamieson, 914-921-5020 President & Chief Operating Officer For further information please visit www.gabelli.com Source: GAMCO Investors, Inc.

http://www.cnbc.com/2018/05/01/business-wire-gamco-adds-to-research-and-portfolio-management-team.html

Century Casinos Announces Dates of First Quarter 2018 Earnings Release and Conference Call

COLORADO SPRINGS, Colo., May 2, 2018 /PRNewswire/ -- Century Casinos, Inc. (NASDAQ Capital Market®: CNTY) announced today that the company will release its earnings for the first quarter of 2018 on Wednesday, May 9, 2018. On Wednesday, May 9, 2018, Century Casinos will host its Q1 2018 Earnings Conference Call at 8:00 a.m. MDT (4:00 p.m. CEST). Participants are advised to dial in 15 minutes in advance. US domestic and Canadian participants please dial +1 844-244-9160, all other international participants please use +1 330-931-4670 to dial in. The conference ID is 'Quarter1'. To just follow the call, or a recording of the call, please visit our website at http://corporate.cnty.com/investor-relations/financial-results/ . About Century Casinos, Inc.: Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and in St. Albert, Alberta, Canada. Through its Austrian subsidiary, Century Resorts Management GmbH, formerly Century Casinos Europe GmbH ("CRM"), the Company owns Saw Close Casino Ltd. in England and holds a 66.6% ownership interest in Casinos Poland Ltd., the owner and operator of five casinos in Poland as of May 9, 2018. The Company, through CRM, also holds 75% ownership interests in both CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada. The Company operates 13 ship-based casinos with four cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development. Century Casinos' common stock trades on The Nasdaq Capital Market® under the symbol CNTY. For more information about Century Casinos, visit our website at www.cnty.com . This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Saw Close Casino and Bermuda projects, debt repayment, investments in joint ventures, outcomes of legal proceedings and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf. View original content with multimedia: http://www.prnewswire.com/news-releases/century-casinos-announces-dates-of-first-quarter-2018-earnings-release-and-conference-call-300640932.html SOURCE Century Casinos, Inc.

http://www.cnbc.com/2018/05/02/pr-newswire-century-casinos-announces-dates-of-first-quarter-2018-earnings-release-and-conference-call.html

Nokia phone licensee HMD raises $100 million to drive growth push

HELSINKI (Reuters) - HMD Global, the Finnish company that owns the right to use the Nokia brand on phones, has raised $100 million of funding intended to boost growth, it said on Monday. FILE PHOTO: The new Nokia 8110 is seen during the Mobile World Congress in Barcelona, Spain, February 27, 2018. REUTERS/Yves Herman/File Photo Having sold about 70 million Nokia phones and generated sales of 1.8 billion euros ($2.1 billion) in its first year, 2017, HMD said it plans to expand its Nokia smartphone range and to double sales channels in key markets this year. “Our aim is to be one of the leading players in the global smartphone market, and our initial success strengthens our confidence that we can continue on our growth path in 2018 and beyond,” CEO Florian Seiche said in a statement. New investors include DMJ Asia Investment Opportunity and Foxconn subsidiary FIH Mobile. The fundraising round was led by Ginko Ventures, a fund owned by Jean-Francois Baril, a long-serving former senior vice president at Nokia. Actual stakes were not disclosed. FILE PHOTO: Florian Seiche, Chief Executive Officer of HMD Global, presents new Nokia mobiles during the Mobile World Congress in Barcelona, Spain, February 25, 2018. REUTERS/Yves Herman/File Photo HMD’s products are built by FIH Mobile and use Google’s Android platform. It pays Nokia Corp royalties for the brand and patents, but Nokia has no direct investment in HMD. The company has so far launched a handful of smartphones as well as retro remakes of Nokia’s biggest hit phones of the 1990s. Once the world’s dominant phone maker, Nokia Corp failed to compete in touchscreen smartphones and ended up selling its handset business to Microsoft in 2014. It is now focused on telecom network equipment. FILE PHOTO: A cyclist rides past a Nokia logo during the Mobile World Congress in Barcelona, Spain February 25, 2018. REUTERS/Yves Herman/File Photo HMD, set up by former Nokia executives, took over the Nokia feature phone business from Microsoft in 2016 and struck a deal with Nokia Oyj to use the brand on smartphones. According to Counterpoint Research, Nokia was the biggest-selling brand last year in low-cost feature phones and ranked No. 11 in smartphones. Reporting by Jussi Rosendahl; Editing by David Goodman

https://in.reuters.com/article/us-hmd-funding/nokia-phone-licensee-hmd-raises-funding-to-step-up-growth-idINKCN1IM0UW

UPDATE 1-European shares rise as Italy recovers and China tariff cut boosts autos

May 22, 2018 / 8:59 AM / Updated 18 minutes ago UPDATE 2-European shares rise as Italy recovers and China tariff cut boosts autos Reuters Staff * STOXX 600 up 0.3 pct * Autos drive gains after China announces tariff cut * Italy’s FTSE MIB, banks rise as govt formation stalls * French telecoms climb on new M&A hopes (Adds closing prices) By Helen Reid LONDON, May 22 (Reuters) - European shares touched their highest level since the start of February on Tuesday as automaker and bank stocks climbed and Italian shares recovered as the anti-establishment coalition’s government formation process stalled. The pan-European STOXX 600 rose 0.3 percent, extending Monday’s gains as carmakers rose on a cut to Chinese tariffs. Volkswagen, BMW and Daimler were among the biggest boosts to the STOXX, up 1.5 percent to 2.5 percent, after China said it would cut the import duty on passenger cars and auto parts from July 1. Europe’s autos sector climbed 0.9 percent and Italy’s Fiat Chrysler also rose 1.6 percent. The latter helped Italy’s FTSE MIB gain 0.5 percent and recover after being dragged down by political risk during the last sessions. Italian bank stocks also rose 1.6 percent as plans by anti-establishment 5-Star and the far-right League to form a government seemed to stall. President Sergio Mattarella sought further consultations over their proposed prime minister, a political novice. Some investors were doubtful a coalition government would be able to go ahead with big spending plans that have spooked markets, sending Italian bond yields to their highest in more than a year. “I don’t know how long this coalition will last. There’s an awful lot of negativity around it but I would be surprised if the coalition can go any meaningful distance,” said Christopher Peel, chief investment officer at Tavistock Wealth. “Certainly Italy is a problem but geopolitical tension seems actually lower now than I can remember in a long time,” he added. French telecoms stocks were also key players during the session after the head of the country’s telecoms regulator reignited talk of possible mergers in the sector, in comments to Le Monde newspaper. Bouygues, Orange and Iliad rose 4.1 percent, 4.5 percent and 7.3 percent respectively. Shares of SFR’s parent company Altice surged 19.2 percent but the move also reflected a technical adjustment of their price following the separation of Altice NV from Altice USA. (Reporting by Helen Reid and Julien Ponthu Editing by Kit Rees and Catherine Evans)

https://www.reuters.com/article/europe-stocks/update-1-european-shares-rise-as-italy-recovers-and-china-tariff-cut-boosts-autos-idUSL5N1ST1HX

Greece's new startup culture - technology and seagrass sunglasses

May 3, 2018 / 11:08 AM / Updated 19 minutes ago Greece's new startup culture: technology and seagrass sunglasses Karolina Tagaris , Lefteris Papadimas 7 Min Read ATHENS/PATRAS, Greece (Reuters) - Greek student Stavros Tsompanidis was walking on a beach when he saw a business idea in the piles of dried-up seagrass. Founder of PHEE Stavros Tsompanidis, 25, arranges dried leaves of seagrass on a panel at the manufacturing workshop of PHEE in Patras, Greece, March 8, 2018. REUTERS/Alkis Konstantinidis He decided to recycle it to make iPhone cases, sunglasses and gift boxes. Four years on, his startup, PHEE, sells its products across Greece and abroad. He represents a change in mindset among young Greeks who are turning to entrepreneurship as a result of the crisis. “If we don’t act, in the next five years we’ll be saying the same things: that Greece isn’t going well, that there are no jobs ... that we have a new program by the International Monetary Fund and European Union to support us,” the 25-year-old said. Greek startups are mushrooming in a financial crisis that started in 2008. The economy is only just recovering. It shrank by a quarter and cut off traditional routes to employment — jobs in government and family businesses. “Startups” were virtually unheard of a decade ago but they are now creating jobs and offering some hope that Greece can reverse an exodus of its highly skilled youth. Greece has no official startups register but several private databases show they number between around 600 and 1,100. The earliest count of startups, made in 2010 by non-profit advisory Endeavour Greece, stood at just 16. AngelList, an online database, puts the current number at 600 while audit firm Grant Thornton found 1,127 in a 2017 report. Greek venture capital firm Marathon VC, established only last year, counts about 1,000 tech startups in its database. Venture capital in the sector is growing. A European Investment Fund (EIF) initiative, supported by private investors, is expected to pump about 400 million euros ($479.48 million) into Greek startups and other small businesses over the next five years. In 2008, when George Tziralis, a partner at Marathon VC, launched a networking event for startups, about 12 people turned up. Now, between 200-300 people attend each month and three to five new startups are presented. “Ten years ago there was almost nothing,” Tziralis said. “Today we’re seeing something much more mature which we believe to be the tip of the iceberg.” Marathon VC has made five investments so far, has three more in the pipeline and Tziralis believes it can allocate its entire 32 million-euro fund in under a year. Sunglasses made by processed leaves of seagrass, in partnership with Greek handmade eyewear maker ZYLO, are on display at the manufacturing workshop of PHEE in Patras, Greece, March 8, 2018. REUTERS/Alkis Konstantinidis “IT COULDN’T GET WORSE” Tourism and shipping, Greece’s two main industries, are driving a tentative economic recovery. The structure of the economy could change if the number of startups continues to grow, economists say. During the crisis thousands of firms shut and unemployment peaked at 27.9 percent, with six in 10 young job-seekers out of work. About 223,000 Greeks aged 25-39 emigrated in 2008-13 to richer countries, central bank data shows. The austerity that was a condition of repeated international financial bailouts deepened the depression. Those who stayed in Greece had to innovate to survive. “The crisis created necessity entrepreneurship,” said Panagiotis Zamanis, vice chairman of the Hellenic Startups Association. Greek lender National Bank says the tech startup sector is showing particular promise even though it only has a total valuation of around 300 million euros. “The Greek ecosystem of tech startups is still in its infancy though it already shows signs of high growth potential,” it said in a report. Three engineers founded Ex Machina, a software startup offering predictive analytics for weather-sensitive industries in the summer of 2015 when capital controls were imposed.. “We wanted to take more risk because we believed that — the way things were — it couldn’t get worse,” said one of the founders, 38-year-old Manolis Nikiforakis. He was speaking in Ex Machina’s Athens office in Greek lender Eurobank’s startup hub EGG, where cubicle walls are covered in business plans and Post-it notes. Ex Machina now has Greece’s biggest gas supplier among its customers and is in talks for funding to expand abroad. Slideshow (8 Images) “FIGHTING BRAIN DRAIN” The owners of Ex Machina and other startups say they have succeeded despite the constraints of Greece’s business environment. Red tape, high taxes and funding constraints are holding back entrepreneurs, they say. Greece ranks 87th out of 137 countries in the World Economic Forum’s Global Competitiveness Index, behind Tajikistan and Ukraine. Taxation, which has climbed as a result of austerity, and crippling bureaucracy are cited among hurdles to business. It took Ex Machina three months to open a bank account so clients could not pay them. Funding was scarce as Greek investors were used to more traditional sectors such as restaurants and tourism. Ex Machina and PHEE, both relied on savings, grants and winning startup competitions at first. The Greeks behind taxi-hailing app Beat, bought by Germany’s Daimler last year, set up in London because of the more flexible legal framework and lower start-up costs. “I tried to see with my accountant how long it would take to open the company in Greece, to open a bank account, and then get the money,” Beat’s founder Nikos Drandakis told the Greek parliament in March. “We were talking about more than one to two months... We opened the company in England in one day.” The government is considering introducing tax breaks for startups this summer. “The economy’s growth depends on how well these businesses fair in the next 10 years,” Eurobank Deputy CEO Stavros Ioannou said. “We have to help them.” The government teamed up in April with the EIF to launch Equifund, the 400 million euro fund-of-funds aimed at startups and other small companies. About a quarter of the money will be from private investors, the rest will be public funds. The EIF said in an emailed statement it hoped to fight “brain drain, maybe even reversing it into brain gain.” The money should focus on helping startups expand beyond the Greek market, said Costas Andripoulos, professor of Innovation and Entrepreneurship at London’s Cass Business School. Workable, a startup whose software aims to make hiring easier, was launched in Athens in 2012. It now has offices in London and Boston and 180 staff, most of whom are in Greece. It has raised $32 million from investors and counts Porsche, Ryanair and Marks & Spencer among its 6,000 customers. Workable’s Nikos Moraitakis quit a job in Dubai to set up Workable in Athens despite Greece’s problems. “Successful (startups) are often created in recession,” he said. Editing by Anna Willard

https://uk.reuters.com/article/us-eurozone-greece-startups/greeces-new-startup-culture-technology-and-seagrass-sunglasses-idUKKBN1I417D