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U.S. SEC says Rio Tinto, former CEO, former CFO must face fraud case

January 24, 2018 / 12:02 AM / Updated 44 minutes ago U.S. SEC says Rio Tinto, former CEO, former CFO must face fraud case Jonathan Stempel 3 Min Read NEW YORK (Reuters) - The top U.S. securities regulator on Tuesday rejected arguments by Rio Tinto Plc ( RIO.L ) ( RIO.AX ) and two former top executives that its civil lawsuit claiming they concealed the plunging value of coal assets owned by the big Anglo-Australian mining company should be dismissed. In letters filed with the U.S. District Court in Manhattan, the Securities and Exchange Commission said its complaint adequately alleged that fraud occurred, and that Rio Tinto, former Chief Executive Thomas Albanese and former Chief Financial Officer Guy Elliott intended to deceive investors. Rio Tinto responded by referring to its statement in October that it believed the lawsuit was unwarranted and that a court or jury would reject the SEC’s claims. Lawyers for the defendants did not immediately respond to requests for comment or had no immediate comment. The SEC accused Rio Tinto of ignoring the need to write down most of the value of Mozambique coal assets it had bought for $3.7 billion in April 2011, while it was raising roughly $5.5 billion from U.S. investors. Rio Tinto wrote off most of the value in January 2013, and sold the assets in late 2014 for just $50 million. “This is not simply a case about Rio Tinto’s valuation of Rio Tinto Coal Mozambique,” the SEC said in one of Tuesday’s letters. “Rio Tinto, Albanese, and Elliott faced enormous pressure to structure a successful deal in light of the fact that they were responsible for an earlier disastrous multibillion dollar acquisition,” the SEC said. The SEC also rejected Rio Tinto’s contention that any alleged misstatements and omissions might be immaterial because the writedown was for only 3 percent of company assets. It said that had Rio Tinto properly written down the assets, its net earnings for the first half of 2012 would have been reduced by more than 50 percent. “Accordingly, the question of materiality must be decided by a jury,” the SEC said. In letters on Jan. 16 explaining why the lawsuit should be dismissed, Albanese said he acted at all times as a “reasonable” CEO would, and Elliott said he relied on a “well-tested and rigorous process” to ensure that Rio Tinto reported its financials properly. The SEC case is being overseen by U.S. District Judge Analisa Torres. It is unclear when she will rule on defence motions to dismiss it. Reporting by Jonathan Stempel in New York; Additional reporting by Sonali Paul in Melbourne; Editing by Richard Chang

https://uk.reuters.com/article/uk-rio-tinto-sec/u-s-sec-says-rio-tinto-former-ceo-former-cfo-must-face-fraud-case-idUKKBN1FD001

Exclusive - Unregulated British firm draws Asian investors

January 10, 2018 / 1:43 PM / Updated 4 hours ago Exclusive: Unregulated British firm draws Asian investors Carolyn Cohn , Stanley Carvalho , Kirstin Ridley 5 Min Read LONDON/ABU DHABI (Reuters) - Financial.org, a UK company that describes itself as an education business and sponsors a Formula One team, is managing hundreds of thousands of dollars for Asian investors even though it is not licensed to engage in financial transactions, according to 17 people who say they have invested through the firm. The 17 people, from China, Indonesia, Malaysia, Singapore, Thailand, Vietnam and the UAE, told Reuters they had each given between $3,000 and $400,000 to Financial.org to invest. “I have doubled my investments,” said Azmi Tumpang, a former construction worker from Malaysia outside a gala dinner organized by Financial.org on the sidelines of the Abu Dhabi Grand Prix in late November. Most of the people said their money had been invested in U.S. blue-chip stocks and that they had made a profit. Reuters was unable to verify whether the share transactions took place. Financial.org is not on a publicly available list of companies authorized and regulated by Britain’s financial regulator, the Financial Conduct Authority (FCA), to buy and sell stocks or bonds for clients. Offering investment services without regulatory permission is a criminal offence in Britain. Financial.org, which has an office in London’s Canary Wharf, declined to comment on whether it acted as an investment firm. The company signed up two years ago with the UK’s official company register as a real estate business, according to filings. The UK registrar of companies, Companies House, said it was preparing to strike off the firm on Jan. 23 because it had never filed accounts. If a company is struck off, it cannot continue to trade legally and its assets pass to the state. UK-registered companies must by law be authorized and regulated by the FCA if they deal in securities such as shares and bonds for clients, even if the investors are outside Britain. Under FCA rules, this applies both to principals - parties investing on behalf of clients, and agents - firms including brokers that arrange for investments to take place. The FCA declined to comment about whether Financial.org was operating illegally. The regulator has previously warned of the dangers of investing through firms it has not authorized, as no independent checks have been made on their businesses. It said it had received reports of more than 8,000 cases of unauthorized businesses in the last financial year. On the home page of its website, Financial.org says it is an education platform, providing “financial knowledge and skills”. “We do not deal with securities and receive any financial benefits from financial products and service providers,” it says. However, elsewhere on its site, it also says it “helps members to manage and oversee their investments” and “provides self-directed investors with brokerage services”. INVESTOR ALERT The Monetary Authority of Singapore last March placed Financial.org on an investor alert list of “unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorized by MAS”, its website says. The authority said investors should “exercise caution” when dealing with companies on the list. Malaysia’s Securities Commission also placed Financial.org on a list of “unauthorized websites/investment products/companies/individuals” last year, according to its website. The MAS and Malaysian commission both declined to comment on Financial.org and why they had placed it on alert lists. Financial.org declined to comment on the two regulators’ warnings. The company has been a sponsor of British Formula One team Williams ( WGF1G.DE ) since May 2016, and its logo appears on the Williams Mercedes FW38 cars and team strips. Williams declined to comment. Most of the 17 people who spoke to Reuters said they had come into contact with Financial.org through referrals from acquaintances, often via social media. Six said they had received commissions from Financial.org for referring others. Five of the people detailed how they made investments. They said they deposited money into the bank account of a third party, usually the person who referred them, who then transferred the funds to a Financial.org investment account. The investors said they accessed their Financial.org account with a members-only area in Financial.org’s website. Thirteen said they had withdrawn money regularly. Tumpang said he had invested $30,000 through Financial.org over the last two years. Mohamad Mohamed Nordin, another Malaysian investor, said he had invested $400,000. Vietnamese investor Albert Anthony, a fashion business manager, provided a screenshot of his account page which showed he had invested $100,000. Shella Vinarevi, from Indonesia, said the minimum investment for Financial.org was $3,000, which she had made. Additional reporting by Brenna Hughes Neghaiwi in Zurich, Chayut Setboonsarng in Bangkok, Engen Tham in Shanghai, Fransiska Nangoy and Cindy Silviana in Jakarta, Praveen Menon in Kuala Lumpur, Alan Baldwin, Ritvik Carvalho and Bozorgmehr Sharafedin in London, Anshuman Daga in Singapore, Thomas Wilson in Tokyo, Mi Nguyen in Hanoi, and the Shanghai newsroom; Editing by Pravin Char

https://uk.reuters.com/article/us-britain-investment-financial-org-excl/exclusive-unregulated-british-firm-draws-asian-investors-idUKKBN1EZ1ME

4- hits 2015 on unrest, tighter

API says US crude inventories fall; EIA supply report due (Updates prices, previous SINGAPORE, adds analyst quotes) raising concern about risks to supplies, cold weather in the United States boosting demand and OPEC-led output cuts. Six days of anti-government protests in Iran, OPEC's third-largest producer, have added a geopolitical risk premium to oil prices. The unrest has not, however, affected production or exports in Iran. Brent crude, the international benchmark, was up 6 cents at $67.90 a barrel at 1005 GMT and traded as high as $68.27. U.S. crude rose 23 cents to $61.86 and also touched the highest since May 2015. "There is enough support for prices with the cold in the U.S. and the geopolitical factor," said Olivier Jakob, oil analyst at Petromatrix. Freezing weather in the United States has spurred short-term demand, especially for heating oil. Apart from the spike in May 2015, oil is trading at its highest since December 2014 - the month after a historic decision by the Organization of the Petroleum Exporting Countries to stop cutting output to prop up prices deepened a price collapse. Analysts at JBC Energy in Vienna said the price reaction to the Iranian unrest was overdone, although there were other potential threats to Iranian supply looming. "Beyond the recent focus on street protests, the potential reinstatement of U.S. sanctions targeting the Iranian oil industry remains an issue," JBC said. get rid of a supply glut that had built up in the previous two years and boost prices. The supply cut pact started decided to extend the deal for the whole of 2018. OPEC's cuts are helping to reduce inventories around the world and in ahead of the government's supply report due later on Thursday. The U.S. government forecasts that 2018 average oil production will hit a record high. (Addtional reporting by Henning Gloystein; Editing by Mark Potter)

https://www.cnbc.com/2018/01/04/reuters-america-update-4-oil-hits-highest-since-2015-on-iran-unrest-tighter-market.html

HIGHLIGHTS-Bank of Korea Governor Lee's comments at news conference

SEOUL, Jan 18 (Reuters) - South Korea’s central bank held interest rates steady on Thursday, as expected, as it monitored the effects of its November hike and remained wary of triggering disruptive capital flows. Following are key remarks from Bank of Korea Governor Lee Ju-yeol’s news conference, translated by Reuters: RATE DECISION: “Today’s decision to raise the base rate to 1.50 percent was unanimous.” “We decided to keep rates unchanged today as there are still uncertainties inside and outside the country and it is necessary to observe the effect of these factors. Also, inflationary pressures are not high, also leading to our decision.” “Going forward, monetary policy will be kept accommodative to support economic growth.” “In November, we raised interest rates and whether we will make additional moves will come after we look at growth and inflation closely, in addition to other factors.” ECONOMIC GROWTH: “South Korea’s economic growth this year is now seen at 3.2 percent versus 3.0 seen earlier.” “We raised our growth forecast for 2018 because global economic growth has been expanding more than we expected back in October.” “This year, economic growth will be stronger in the first half of the year compared to the second half.” INFLATION: “Inflation this year is expected at 1.7 percent compared to our previous projection of 1.8 percent.” CRYPTOCURRENCY: “It’s a little too early for us to assess the impact virtual currency trade has had, or will have on the South Korean economy in detailed numbers.” “Currently, we believe the impact from sudden changes in cryptocurrency levels will be limited on the financial system.” “Cryptocurrency is not a legal currency and is not being used as such as of now. However, we have started looking at virtual currency from a long-term standpoint, as central banks could start issuing digital currencies in the future. This sort of research has begun at the Bank of International Settlements and we are part of that research.” FOREX: “The won has been strengthening and part of that may be because geopolitical risks linked to North Korea have eased somewhat and the dollar weakened broadly, in addition to South Korea’s growth expanding quickly. However, some of the won’s gains were also due to herd behaviour.” (Reporting by Christine Kim; Editing by Sam Holmes)

https://www.reuters.com/article/southkorea-economy-rates/highlights-bank-of-korea-governor-lees-comments-at-news-conference-idUSL3N1PD1LG

BankUnited, Inc. Reports 2017 Results

MIAMI LAKES, Fla.--(BUSINESS WIRE)-- BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter and year ended December 31, 2017. For the quarter ended December 31, 2017, the Company reported net income of $417.8 million, or $3.79 per diluted share, compared to $63.3 million, or $0.59 per diluted share, for the quarter ended December 31, 2016. Excluding the impact of a discrete income tax benefit and related professional fees, net income for the quarter ended December 31, 2017 was $94.8 million, or $0.86 per diluted share. For the year ended December 31, 2017, the Company reported net income of $614.3 million, or $5.58 per diluted share, compared to $225.7 million, or $2.09 per diluted share, for the year ended December 31, 2016. Excluding the impact of the discrete income tax benefit and professional fees, net income was $291.3 million or $2.65 per diluted share for the year ended December 31, 2017. The return on average stockholders’ equity for the year ended December 31, 2017 was 23.36% compared to 9.64% for the year ended December 31, 2016 while the return on average assets was 2.13% compared to 0.87% for the same periods. Excluding the impact of a discrete income tax benefit and related professional fees, the return on average stockholders’ equity and the return on average assets for the year ended December 31, 2017 were 11.08% and 1.01%, respectively. Rajinder Singh, President and Chief Executive Officer, said, "2017 was a remarkable year for BankUnited. We delivered double digit growth in earnings, loans and deposits, while shifting our strategy to diversify our balance sheet and business mix. I’m also proud to say that tangible book value per share has grown at a compound annual rate of 11.7% since our 2011 IPO, to $27.59." Performance Highlights Earnings for the quarter ended December 31, 2017 benefited from a discrete income tax benefit of $327.9 million, inclusive of an expected federal benefit of $295.0 million, estimated state benefits of $24.2 million and estimated interest of $8.7 million. Given the increase in capital generated by the income tax benefit discussed above, the Board of Directors of the Company has authorized a share repurchase program under which the Company may repurchase up to $150 million in shares of its outstanding common stock. Any repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions. The extent to which the Company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, the Company’s capital position and amount of retained earnings, regulatory requirements and other considerations. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017, reducing the statutory corporate federal income tax rate from 35 percent to 21 percent, effective January 1, 2018. A tax benefit of $3.7 million, representing the impact of the rate change on deferred tax assets and liabilities existing at the date of enactment was recognized in earnings during the quarter ended December 31, 2017. Net interest income increased by $11.3 million to $238.8 million for the quarter ended December 31, 2017 from $227.5 million for the quarter ended December 31, 2016. Interest income increased by $34.7 million, driven by increases in the average balances of loans and investment securities outstanding and an increase in the yield on interest earning assets. Interest expense increased by $23.4 million, driven by increases in average interest bearing deposits and an increase in the cost of interest bearing liabilities. For the year ended December 31, 2017, net interest income increased by $79.9 million to $950.3 million from $870.4 million for the year ended December 31, 2016. The net interest margin, calculated on a tax-equivalent basis, decreased to 3.52% for the quarter ended December 31, 2017 from 3.67% for the quarter ended December 31, 2016 and 3.62% for the immediately preceding quarter ended September 30, 2017. Significant factors contributing to the decline in the net interest margin included the continued growth of non-covered loans and investment securities at yields lower than the yield on total interest earning assets and an increase in the cost of interest bearing liabilities. The net interest margin, calculated on a tax-equivalent basis, was 3.65% for the year ended December 31, 2017, compared to 3.73% for the year ended December 31, 2016. Gain on sale of covered loans totaled $19.0 million for the quarter ended December 31, 2017. The Company sold substantially all of the covered home equity loans and lines of credit at higher than expected prices. The gain on sale was partially offset by a related loss on FDIC indemnification of $2.8 million, for a net impact on pre-tax earnings of $16.2 million. Non-covered loans and leases, including equipment under operating lease, grew by $852 million during the fourth quarter of 2017. For the year ended December 31, 2017, non-covered loans and leases grew by $2.2 billion. Total deposits increased by $655 million for the quarter ended December 31, 2017, to $21.9 billion. For the year ended December 31, 2017, total deposits increased by $2.4 billion. Book value per common share grew to $28.32 at December 31, 2017, a 22.0% increase from December 31, 2016. Tangible book value per common share increased by 22.8% over the same period, to $27.59 at December 31, 2017. These increases were impacted by the discrete income tax benefit recognized in the quarter ended December 31, 2017. Capital The Company and its banking subsidiary continue to exceed all regulatory guidelines required to be considered well capitalized. The Company’s and BankUnited, N.A.'s regulatory capital ratios at December 31, 2017 were as follows: BankUnited, Inc. BankUnited, N.A. Tier 1 leverage 9.7 % 10.5 % Common Equity Tier 1 ("CET1") risk-based capital 13.1 % 14.1 % Tier 1 risk-based capital 13.1 % 14.1 % Total risk-based capital 13.8 % 14.8 % Loans and Leases Loans, including premiums, discounts and deferred fees and costs, increased to $21.4 billion at December 31, 2017 from $19.4 billion at December 31, 2016. Non-covered loans grew to $20.9 billion while covered loans declined to $503 million at December 31, 2017. For the quarter ended December 31, 2017, non-covered commercial loans, including commercial real estate loans, commercial and industrial loans, and loans and leases originated by our commercial lending subsidiaries, grew by $678 million to $16.7 billion. Equipment under operating lease, net, grew by $11 million during the fourth quarter of 2017. Non-covered residential and other consumer loans grew by $162 million to $4.2 billion during the fourth quarter of 2017. The Florida franchise contributed non-covered loan growth for the quarter of $465 million and the New York franchise contributed net growth of $29 million. The Company's national platforms contributed non-covered loan and lease growth of $359 million. We refer to our commercial lending subsidiaries, our mortgage warehouse lending operations, the small business finance unit ("SBF") and our 1-4 family residential loan portfolio as national platforms. The most significant contributors to growth across the national platforms were residential at $162 million and the commercial lending subsidiaries at $191 million. In Florida, all portfolio segments contributed to non-covered loan growth with the most significant contributions coming from the C&I portfolio, with growth of $175 million, and the non-owner occupied CRE portfolio, with growth of $233 million. The increase in New York reflected continued expected runoff in multi-family loans of $169 million, more than offset by growth of $198 million across other portfolio segments. At December 31, 2017, the non-covered loan portfolio included $7.4 billion, $6.1 billion and $7.4 billion attributable to the Florida franchise, the New York franchise and the national platforms, respectively. A comparison of portfolio composition at the dates indicated follows: Non-Covered Loans Total Loans December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Residential and other consumer loans 19.8 % 18.4 % 21.7 % 21.0 % Multi-family 15.4 % 20.4 % 15.0 % 19.8 % Non-owner occupied commercial real estate 21.5 % 19.9 % 21.0 % 19.3 % Construction and land 1.5 % 1.7 % 1.5 % 1.6 % Owner occupied commercial real estate 9.7 % 9.3 % 9.4 % 9.0 % Commercial and industrial 19.9 % 18.1 % 19.4 % 17.5 % Commercial lending subsidiaries 12.2 % 12.2 % 12.0 % 11.8 % 100.0 % 100.0 % 100.0 % 100.0 % Asset Quality and Allowance for Loan and Lease Losses For the quarters ended December 31, 2017 and 2016, the Company recorded provisions for loan losses of $5.2 million and $8.5 million, respectively, including provisions related to non-covered loans of $6.5 million and $9.0 million. For the years ended December 31, 2017 and 2016, the Company recorded provisions for loan losses of $68.7 million and $50.9 million, respectively, including provisions related to non-covered loans of $67.4 million and $52.6 million. The provision related to taxi medallion loans totaled $8.6 million and $2.2 million for the quarters ended December 31, 2017 and 2016, respectively, and $58.2 million and $11.9 million for the years ended December 31, 2017 and 2016, respectively. The decrease in the provision for loan losses related to non-covered loans for the quarter ended December 31, 2017, as compared to the quarter ended December 31, 2016 reflected (i) a net decrease in the relative impact on the provision of changes in quantitative and qualitative loss factors, (ii) a reduction in the reserve established at September 30, 2017 related to the impact of Hurricanes Irma and Harvey and (iii) a decrease in provisions related to classified and specifically reserved loans, offset in part by (i) the increase in the provision related to taxi medallion loans and (ii) higher loan growth. The increase in the provision for loan losses related to non-covered loans for the year ended December 31, 2017, as compared to the year ended December 31, 2016, was driven by the increase in the provision related to taxi medallion loans, which was partially offset by (i) a net decrease in the relative impact on the provision of changes in quantitative and qualitative loss factors, (ii) a decrease in provisions for classified and specifically reserved loans and (iii) lower loan growth. Non-covered, non-performing loans totaled $172.0 million or 0.82% of total non-covered loans at December 31, 2017, compared to $132.7 million or 0.71% of total non-covered loans at December 31, 2016. Non-performing taxi medallion loans comprised $106.1 million or 0.51% of total non-covered loans at December 31, 2017 and $60.7 million or 0.32% of total non-covered loans at December 31, 2016. As of December 31, 2017, the entire taxi medallion portfolio was on non-accrual status. The ratios of the allowance for non-covered loan and lease losses to total non-covered loans and to non-performing, non-covered loans were 0.69% and 84.03%, respectively, at December 31, 2017, compared to 0.80% and 113.68% at December 31, 2016. The decrease in the ratio of the allowance for non-covered loan and lease losses to non-performing non-covered loans was primarily a result of charge-offs related to taxi medallion loans and the increase in non-performing taxi medallion loans in 2017. The ratio of net charge-offs to average non-covered loans was 0.38% for the year ended December 31, 2017, compared to 0.13% for the year ended December 31, 2016. The ratio of charge-offs of taxi medallion loans to average non-covered loans was 0.29% and 0.06% for the years ended December 31, 2017 and 2016, respectively. The following tables summarize the activity in the allowance for loan and lease losses for the periods indicated (in thousands): Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 ACI Loans Non-ACI Loans Non- Covered Loans Total ACI Loans Non-ACI Loans Non- Covered Loans Total Balance at beginning of period $ 1,812 $ 3,036 $ 153,725 $ 158,573 $ — $ 2,785 $ 151,691 $ 154,476 Provision (recovery) (1,812 ) 477 6,509 5,174 — (562 ) 9,024 8,462 Charge-offs — (3,272 ) (16,832 ) (20,104 ) — (130 ) (10,146 ) (10,276 ) Recoveries — 17 1,135 1,152 — 7 284 291 Balance at end of period $ — $ 258 $ 144,537 $ 144,795 $ — $ 2,100 $ 150,853 $ 152,953 Year Ended December 31, 2017 Year Ended December 31, 2016 ACI Loans Non-ACI Loans Non- Covered Loans Total ACI Loans Non-ACI Loans Non- Covered Loans Total Balance at beginning of period $ — $ 2,100 $ 150,853 $ 152,953 $ — $ 4,868 $ 120,960 $ 125,828 Provision (recovery) — 1,358 67,389 68,747 — (1,681 ) 52,592 50,911 Charge-offs — (3,327 ) (77,866 ) (81,193 ) — (1,216 ) (25,894 ) (27,110 ) Recoveries — 127 4,161 4,288 — 129 3,195 3,324 Balance at end of period $ — $ 258 $ 144,537 $ 144,795 $ — $ 2,100 $ 150,853 $ 152,953 Charge-offs related to taxi medallion loans totaled $9.5 million and $6.9 million for the quarters ended December 31, 2017 and 2016, respectively, and $56.6 million and $11.1 million for the years ended December 31, 2017 and 2016, respectively. Deposits At December 31, 2017, deposits totaled $21.9 billion compared to $19.5 billion at December 31, 2016. The average cost of total deposits was 0.94% for the quarter ended December 31, 2017, compared to 0.87% for the immediately preceding quarter ended September 30, 2017, and 0.69 % for the quarter ended December 31, 2016. The average cost of total deposits was 0.83% for the year ended December 31, 2017, compared to 0.66% for the year ended December 31, 2016. Net interest income Net interest income for the quarter ended December 31, 2017 increased to $238.8 million from $227.5 million for the quarter ended December 31, 2016. Net interest income was $950.3 million for the year ended December 31, 2017, compared to $870.4 million for the year ended December 31, 2016. Increases in interest income were partially offset by increases in interest expense. The increases in interest income were primarily attributable to increases in the average balances of loans and investment securities and related average yields. Interest expense increased due to an increase in average interest bearing deposits and an increase in the cost of funds. The Company’s net interest margin, calculated on a tax-equivalent basis, was 3.52% for the quarter ended December 31, 2017, compared to 3.62% for the immediately preceding quarter ended September 30, 2017 and 3.67% for the quarter ended December 31, 2016. Net interest margin, calculated on a tax-equivalent basis, was 3.65% for the year ended December 31, 2017, compared to 3.73% for the year ended December 31, 2016. Significant offsetting factors impacting the declines in net interest margin for the quarter and year ended December 31, 2017, compared to the quarter and year ended December 31, 2016, included: The tax-equivalent yield on loans increased to 5.15% for both the quarter and year ended December 31, 2017 from 5.01% and 5.11% for the quarter and year ended December 31, 2016, reflecting increased yields on both non-covered and covered loans. The tax-equivalent yield on non-covered loans was 3.80% and 3.75%, respectively, for the quarter and year ended December 31, 2017, compared to 3.56% and 3.58% for the quarter and year ended December 31, 2016. The most significant factor contributing to increased yields on non-covered loans was the impact of increases in benchmark interest rates. The tax-equivalent yield on covered loans increased to 60.90% and 55.22%, respectively, for the quarter and year ended December 31, 2017 from 46.43% and 41.82% for the quarter and year ended December 31, 2016. The tax-equivalent yield on investment securities increased to 2.89% and 3.02%, respectively, for the quarter and year ended December 31, 2017 from 2.87% and 2.84% for the quarter and year ended December 31, 2016. Growth of non-covered loans and investment securities at yields lower than the overall yield on interest earning assets. The average rate on interest bearing liabilities increased to 1.25% and 1.12%, respectively, for the quarter and year ended December 31, 2017 from 0.93% for both the quarter and year ended December 31, 2016, reflecting higher average rates on both interest bearing deposits and FHLB advances. Increases in the cost of interest bearing liabilities primarily reflect increases in short-term market interest rates. The Company’s net interest margin continues to be impacted by reclassifications from non-accretable difference to accretable yield on ACI loans. Non-accretable difference at acquisition represented the difference between the total contractual payments due and the cash flows expected to be received on these loans. The accretable yield on ACI loans represented the amount by which undiscounted expected future cash flows exceeded the recorded investment in the loans. As the Company’s expected cash flows from ACI loans have increased since the FSB Acquisition, the Company has reclassified amounts from non-accretable difference to accretable yield. Changes in accretable yield on ACI loans for the years ended December 31, 2017 and 2016 were as follows (in thousands): Balance at December 31, 2015 $ 902,565 Reclassifications from non-accretable difference 76,751 Accretion (303,931 ) Balance at December 31, 2016 675,385 Reclassifications from non-accretable difference, net 81,501 Accretion (301,827 ) Balance at December 31, 2017 $ 455,059 Non-interest income Non-interest income totaled $46.5 million and $157.9 million, respectively, for the quarter and year ended December 31, 2017 compared to $29.3 million and $106.4 million, respectively, for the quarter and year ended December 31, 2016. The increase of $17.3 million for the quarter ended December 31, 2017 compared to the quarter ended December 31, 2016 was primarily due to an increase of $16.1 million in gain on sale of covered loans, net of the related loss on FDIC indemnification. The most significant factors contributing to the $51.5 million increase in non-interest income for the year ended December 31, 2017 compared to the year ended December 31, 2016 included (i) an increase of $19.0 million in gain on sale of investment securities available for sale, (ii) an increase of $18.7 million in gain on sale of covered loans, net of the related loss on FDIC indemnification, and (iii) an increase of $9.1 million in lease financing income. Increases in gain on sale of investment securities primarily reflected gains recognized in 2017 from the sale of certain securities formerly covered under the Commercial Shared-Loss Agreement and originally acquired at significant discounts in the FSB Acquisition. Increases in gain on sale of covered loans, net of the related loss on FDIC indemnification, primarily related to better than expected pricing on the sale of substantially all of the covered home equity loans and lines of credit in the fourth quarter of 2017. Increases in lease financing income generally corresponded to growth in the operating lease portfolio. Non-interest expense Non-interest expense totaled $161.3 million and $635.0 million, respectively, for the quarter and year ended December 31, 2017 compared to $156.2 million and $590.4 million, respectively, for the quarter and year ended December 31, 2016. The most significant driver of the increase for the quarter ended December 31, 2017 compared to the quarter ended December 31, 2016 was professional fees of $6.8 million related to the discrete income tax benefit recognized during the quarter. The most significant components of the $44.5 million increase for the year ended December 31, 2017 compared to the year ended December 31, 2016 were (i) an increase in amortization of the FDIC indemnification asset of $16.4 million, (ii) an increase in employee compensation and benefits of $14.8 million and (iii) an increase of $9.4 million in professional fees. Amortization of the FDIC indemnification asset was $41.1 million and $176.5 million, respectively, for the quarter and year ended December 31, 2017, compared to $43.4 million and $160.1 million, respectively, for the quarter and year ended December 31, 2016. The amortization rate increased to 49.65% and 42.90%, respectively, for the quarter and year ended December 31, 2017 from 31.05% and 25.14%, respectively, for the quarter and year ended December 31, 2016. As the expected cash flows from ACI loans have increased, expected cash flows from the FDIC indemnification asset have decreased, resulting in continued increases in the amortization rate. Provision for income taxes The effective income tax rate was (251.3)% and (51.9)%, respectively, for the quarter and year ended December 31, 2017, compared to 31.3% and 32.7%, respectively, for the quarter and year ended December 31, 2016. The effective income tax rates for the quarter and year ended December 31, 2017 reflect a discrete income tax benefit of $327.9 million related to a matter that arose during an ongoing audit of the Company's 2013 federal income tax return. During that audit, the Company asserted that U.S. federal income taxes paid in respect of certain income previously reported by the Company for its 2012, 2013 and 2014 tax years related to the basis assigned to certain loans acquired in the FSB Acquisition should be refunded to the Company, in light of guidance issued after the relevant returns had been filed (including Treasury Regulations finalized in October 2017 clarifying and modifying the treatment of such acquired loans). The IRS issued a Field Attorney's Advice in the fourth quarter of 2017 agreeing with the Company's position. The discrete tax benefit recognized includes expected refunds of federal income tax of $295 million, as well as estimated interest on the federal refund and estimated refunds from certain state and local taxing jurisdictions. Although the Company expects to receive the federal tax refund following completion of the audit, the Company cannot provide assurances as to when or if it will ultimately receive the refund (or the related state and local refunds) because the IRS has not yet finalized its entire internal process, or provided the Company with a notice of proposed adjustment or revenue agent report and the refund claims are subject to review by the Joint Committee on Taxation. The Company is continuing to evaluate whether it has claims in other state jurisdictions and whether it may have any claims for federal or state income taxes relating to tax years prior to 2012. The Company cannot provide assurances as to when or to what extent it may have any claims relating to such other state and local taxing jurisdictions or in respect of prior tax years. The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017, reducing the statutory corporate federal income tax rate from 35 percent to 21 percent, effective January 1, 2018. The impact of the rate change on deferred tax assets and liabilities existing at the date of enactment was recognized in earnings during the quarter ended December 31, 2017, resulting in a tax benefit of $3.7 million. The decrease in the corporate income tax rate is currently expected to reduce the Company's effective tax rate to a range of approximately 23% to 24%. Excluding the impact of the discrete income tax benefit and the impact of enactment of the Tax Cuts and Jobs Act of 2017, the effective income tax rate was 27.6% and 30.1%, respectively, for the quarter and year ended December 31, 2017, compared to 31.3% and 32.7%, respectively, for the quarter and year ended December 31, 2016. The adjusted effective income tax rate in all of the periods presented differed from the statutory federal income tax rate of 35% primarily due to the effect of income not subject to tax, partially offset by state income taxes. Non-GAAP Financial Measures Tangible book value per common share is a non-GAAP financial measure. Management believes this measure is relevant to understanding the capital position and performance of the Company. Disclosure of this non-GAAP financial measure also provides a meaningful base for comparability to other financial institutions. The following table reconciles the non-GAAP financial measurement of tangible book value per common share to the comparable GAAP financial measurement of book value per common share at December 31, 2017 (in thousands except share and per share data): Total stockholders’ equity $ 3,026,062 Less: goodwill and other intangible assets 77,796 Tangible stockholders’ equity $ 2,948,266 Common shares issued and outstanding 106,848,185 Book value per common share $ 28.32 Tangible book value per common share $ 27.59 Net income, earnings per diluted common share, return on average stockholders' equity and return on average assets, in each case excluding the impact of a discrete income tax benefit and related professional fees are non-GAAP financial measures. Management believes disclosure of these measures enhances readers' ability to compare the Company's financial performance for the current period to that of other periods presented. The following table reconciles these non-GAAP financial measurements to the comparable GAAP financial measurements of net income' earnings per diluted share, return on average stockholders' equity and return on average assets for the three months and year ended December 31, 2017 (in thousands except share and per share data): Three Months Ended December 31, 2017 Year Ended December 31, 2017 Net income excluding the impact of a discrete income tax benefit and related professional fees: Net income (GAAP) $ 417,794 $ 614,273 Less discrete income tax benefit (327,945 ) (327,945 ) Add back related professional fees, net of tax of $1,802 4,995 4,995 Net income excluding the impact of a discrete income tax benefit and related professional fees (non-GAAP) $ 94,844 $ 291,323 Diluted earnings per common share, excluding the impact of a discrete income tax benefit and related professional fees: Diluted earnings per common share (GAAP) $ 3.79 $ 5.58 Less impact on diluted earnings per common share of discrete income tax benefit and related professional fees, before allocation to participating securities (non-GAAP) (3.04 ) (3.05 ) Less impact on diluted earnings per common share of discrete income tax benefit and related professional fees allocated to participating securities (non-GAAP) 0.12 0.12 Diluted earnings per common share, excluding the impact of a discrete income tax benefit and related professional fees (non-GAAP) (1) $ 0.86 $ 2.65 Impact on diluted earnings per common share of discrete income tax benefit and related professional fees: Discrete income tax benefit and related professional fees, net of tax $ 322,950 $ 322,950 Weighted average shares for diluted earnings per share (GAAP) 106,071,934 105,857,487 Impact on diluted earnings per common share of discrete income tax benefit and related professional fees, before allocation to participating securities (non-GAAP) $ 3.04 $ 3.05 Impact on diluted earnings per common share of discrete income tax benefit and related professional fees allocated to participating securities: Discrete income tax benefit and related professional fees, net of tax, allocated to participating securities $ (12,354 ) $ (12,424 ) Weighted average shares for diluted earnings per share (GAAP) 106,071,934 105,857,487 Impact on diluted earnings per common share of discrete income tax benefit and related professional fees allocated to participating securities (non-GAAP) $ (0.12 ) $ (0.12 ) (1) Amount for the three months ended December 31, 2017 adjusted for rounding. Three Months Ended December 31, 2017 Year Ended December 31, 2017 Return on average assets, excluding the impact of a discrete income tax benefit and related professional fees: Return on average assets (GAAP) 5.54 % 2.13 % Less impact on return on average assets of discrete income tax benefit and related professional fees (non-GAAP) (4.28 )% (1.12 )% Return on average assets, excluding the impact of a discrete income tax benefit and related professional fees (non-GAAP) 1.26 % 1.01 % Impact on return on average assets of discrete income tax benefit and related professional fees: Discrete income tax benefit and related professional fees, net of tax $ 322,950 $ 322,950 Average assets 29,924,277 28,825,394 Impact on return on average assets of discrete income tax benefit and related professional fees (non-GAAP) (1) 4.28 % 1.12 % Return on average stockholders' equity, excluding the impact of a discrete income tax benefit and related professional fees: Return on stockholders' equity (GAAP) 59.33 % 23.36 % Less impact on return on stockholders' equity of discrete income tax benefit and related professional fees (non-GAAP) (45.86 )% (12.28 )% Return on stockholders' equity, excluding the impact of a discrete income tax benefit and related professional fees (non-GAAP) 13.47 % 11.08 % Impact on return on average stockholders' equity of discrete income tax benefit and related professional fees: Discrete income tax benefit and related professional fees, net of tax $ 322,950 $ 322,950 Average stockholders' equity 2,793,701 2,629,372 Impact on return on average stockholders' equity of discrete income tax benefit and related professional fees (non-GAAP) (1) 45.86 % 12.28 % (1) Annualized for the three months period. The effective tax rate excluding the impact of the discrete income tax benefit and the impact of the change in the federal statutory rate on existing deferred tax assets and liabilities is a non-GAAP financial measure. Management believes disclosure of this measure enhances readers' ability to compare the Company's financial performance for the current period to that of other periods presented. The following table reconciles this non-GAAP financial measurement to the comparable GAAP financial measurement of the effective tax rate for the three months and year ended December 31, 2017: Three Months Ended December 31, 2017 Year Ended December 31, 2017 Effective income tax rate, excluding the impact of a discrete income tax benefit and impact of enactment of the Tax Cuts and Jobs Act of 2017: Effective income tax rate (GAAP) (251.3 )% (51.9 )% Less impact on effective income tax rate of discrete income tax benefit and enactment of the Tax Cuts and Jobs Act of 2017 (non-GAAP) 278.9 % 82.0 % Effective income tax rate, excluding the impact of a discrete income tax benefit and enactment of the Tax Cuts and Jobs Act of 2017 (non-GAAP) 27.6 % 30.1 % Impact on effective income tax rate of discrete income tax benefit and enactment of the Tax Cuts and Jobs Act of 2017 (non-GAAP): Discrete income tax benefit $ (327,945 ) $ (327,945 ) Tax benefit recognized from enactment of the Tax Cuts and Jobs Act of 2017 (3,744 ) (3,744 ) $ (331,689 ) $ (331,689 ) Income before income taxes (GAAP) 118,922 404,461 Impact on effective income tax rate of discrete income tax benefit and enactment of the Tax Cuts and Jobs Act of 2017 (non-GAAP) (278.9 )% (82.0 )% Earnings Conference Call and Presentation A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Tuesday, January 23, 2018 with President and Chief Executive Officer, Rajinder P. Singh, and Chief Financial Officer, Leslie N. Lunak. The earnings release will be available on the Investor Relations page under About Us on www.bankunited.com prior to the call. The call may be accessed via a live Internet webcast at www.bankunited.com or through a dial in telephone number at (855) 798-3052 (domestic) or (234) 386-2812 (international). The name of the call is BankUnited, Inc. and the confirmation number for the call is 6577859. A replay of the call will be available from 12:00 p.m. ET on January 23rd through 11:59 p.m. ET on January 30th by calling (855) 859-2056 (domestic) or (404) 537-3406 (international). The pass code for the replay is 6577859. An archived webcast will also be available on the Investor Relations page of www.bankunited.com . About BankUnited, Inc. and the FSB Acquisition BankUnited, Inc., with total assets of $30.3 billion at December 31, 2017, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 87 banking centers in 15 Florida counties and 6 banking centers in the New York metropolitan area at December 31, 2017. On May 21, 2009, BankUnited acquired substantially all of the assets and assumed all of the non-brokered deposits and substantially all other liabilities of BankUnited, FSB from the FDIC, in a transaction referred to as the FSB Acquisition. Concurrently with the FSB Acquisition, BankUnited entered into two loss sharing agreements, or the Loss Sharing Agreements, which covered certain legacy assets, including the entire legacy loan portfolio and OREO, and certain purchased investment securities. Assets covered by the Loss Sharing Agreements are referred to as “covered assets” (or, in certain cases, “covered loans”). The Loss Sharing Agreements do not apply to subsequently purchased or originated loans or other assets. Effective May 22, 2014 and consistent with the terms of the Loss Sharing Agreements, loss share coverage was terminated for those commercial loans and OREO and certain investment securities that were previously covered under the Loss Sharing Agreements. Pursuant to the terms of the Loss Sharing Agreements, the covered assets are subject to a stated loss threshold whereby the FDIC will reimburse BankUnited for 80% of losses, including certain interest and expenses, up to the $4.0 billion stated threshold and 95% of losses in excess of the $4.0 billion stated threshold. The Company’s current estimate of cumulative losses on the covered assets is approximately $3.6 billion. The Company has received $2.7 billion from the FDIC in reimbursements under the Loss Sharing Agreements for claims filed for incurred losses as of December 31, 2017. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company and its subsidiaries or on the Company’s current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, including (without limitations) those relating to the Company’s operations, financial results, financial condition, business prospects, growth strategy and liquidity, as well as risks that the tax refund for which a discrete income tax benefit was recorded is not received by the Company or is delayed, further determinations by or communications with the IRS that may supplement or change the notifications provided by the IRS to the Company to date, formal or informal changes in policy of the IRS with respect to the tax position giving rise to the discrete income tax benefit, the ability of the Company to pursue and obtain recoveries in respect of tax years prior to 2012 and the ability of the Company to pursue and obtain refunds in respect of previously paid state or local taxes. If one or more of these or other risks or uncertainties materialize, or if the Company’s underlying assumptions prove to be incorrect, the Company’s actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information on these factors can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 and in the Company's subsequent filings with the SEC, which are all available at the SEC’s website ( www.sec.gov ). BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - UNAUDITED (In thousands, except share and per share data) December 31, 2017 December 31, 2016 ASSETS Cash and due from banks: Non-interest bearing $ 35,246 $ 40,260 Interest bearing 159,336 408,053 Cash and cash equivalents 194,582 448,313 Investment securities available for sale, at fair value 6,680,832 6,073,584 Investment securities held to maturity 10,000 10,000 Non-marketable equity securities 265,989 284,272 Loans held for sale 34,097 41,198 Loans (including covered loans of $503,118 and $614,042) 21,416,504 19,395,394 Allowance for loan and lease losses (144,795 ) (152,953 ) Loans, net 21,271,709 19,242,441 FDIC indemnification asset 295,635 515,933 Bank owned life insurance 252,462 239,736 Equipment under operating lease, net 599,502 539,914 Goodwill and other intangible assets 77,796 78,047 Other assets 664,382 406,713 Total assets $ 30,346,986 $ 27,880,151 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Demand deposits: Non-interest bearing $ 3,162,032 $ 2,960,591 Interest bearing 1,666,581 1,523,064 Savings and money market 10,715,024 9,251,593 Time 6,334,842 5,755,642 Total deposits 21,878,479 19,490,890 Federal Home Loan Bank advances 4,771,000 5,239,348 Notes and other borrowings 402,830 402,809 Other liabilities 268,615 328,675 Total liabilities 27,320,924 25,461,722 Commitments and contingencies Stockholders' equity: Common stock, par value $0.01 per share, 400,000,000 shares authorized; 106,848,185 and 104,166,945 shares issued and outstanding 1,068 1,042 Paid-in capital 1,498,227 1,426,459 Retained earnings 1,471,781 949,681 Accumulated other comprehensive income 54,986 41,247 Total stockholders' equity 3,026,062 2,418,429 Total liabilities and stockholders' equity $ 30,346,986 $ 27,880,151 BANKUNITED, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (In thousands, except per share data) Three Months Ended December 31, Years Ended December 31, 2017 2016 2017 2016 Interest income: Loans $ 262,276 $ 233,715 $ 1,001,862 $ 896,154 Investment securities 46,683 40,896 188,307 150,859 Other 3,686 3,354 14,292 12,204 Total interest income 312,645 277,965 1,204,461 1,059,217 Interest expense: Deposits 50,772 33,346 170,933 119,773 Borrowings 23,047 17,120 83,256 69,059 Total interest expense 73,819 50,466 254,189 188,832 Net interest income before provision for loan losses 238,826 227,499 950,272 870,385 Provision for (recovery of) loan losses (including $(1,335), $(562), $1,358 and $(1,681) for covered loans) 5,174 8,462 68,747 50,911 Net interest income after provision for loan losses 233,652 219,037 881,525 819,474 Non-interest income: Income from resolution of covered assets, net 5,384 9,729 27,450 36,155 Net loss on FDIC indemnification (8,046 ) (8,349 ) (22,220 ) (17,759 ) Service charges and fees 5,310 4,934 20,864 19,463 Gain (loss) on sale of loans, net (including $18,988, $425, $17,406 and $(14,470) related to covered loans) 20,988 2,954 27,589 (4,406 ) Gain on investment securities available for sale, net 4,272 4,396 33,466 14,461 Lease financing 13,770 11,976 53,837 44,738 Other non-interest income 4,863 3,647 16,918 13,765 Total non-interest income 46,541 29,287 157,904 106,417 Non-interest expense: Employee compensation and benefits 59,438 56,637 237,824 223,011 Occupancy and equipment 18,697 18,804 75,386 76,003 Amortization of FDIC indemnification asset 41,115 43,380 176,466 160,091 Deposit insurance expense 5,184 4,940 22,011 17,806 Professional fees 11,103 4,130 23,676 14,249 Telecommunications and data processing 3,485 3,543 13,966 14,343 Depreciation of equipment under operating lease 9,360 11,576 35,015 31,580 Other non-interest expense 12,889 13,213 50,624 53,364 Total non-interest expense 161,271 156,223 634,968 590,447 Income before income taxes 118,922 92,101 404,461 335,444 Provision (benefit) for income taxes (298,872 ) 28,807 (209,812 ) 109,703 Net income $ 417,794 $ 63,294 $ 614,273 $ 225,741 Earnings per common share, basic $ 3.80 $ 0.59 $ 5.60 $ 2.11 Earnings per common share, diluted $ 3.79 $ 0.59 $ 5.58 $ 2.09 Cash dividends declared per common share $ 0.21 $ 0.21 $ 0.84 $ 0.84 BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Three Months Ended December 31, 2017 2016 Average Balance Interest (1) Yield/ Rate (1)(2) Average Balance Interest (1) Yield/ Rate (1)(2) Assets: Interest earning assets: Non-covered loans $ 20,393,782 $ 194,775 3.80 % $ 18,492,356 $ 165,339 3.56 % Covered loans 494,856 75,347 60.90 % 645,498 74,954 46.43 % Total loans 20,888,638 270,122 5.15 % 19,137,854 240,293 5.01 % Investment securities (3) 6,921,032 50,026 2.89 % 6,109,671 43,907 2.87 % Other interest earning assets 500,949 3,686 2.92 % 573,299 3,354 2.33 % Total interest earning assets 28,310,619 323,834 4.56 % 25,820,824 287,554 4.44 % Allowance for loan and lease losses (154,857 ) (157,901 ) Non-interest earning assets 1,768,515 1,853,168 Total assets $ 29,924,277 $ 27,516,091 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 1,652,150 3,960 0.95 % $ 1,506,315 2,203 0.58 % Savings and money market deposits 10,241,065 24,655 0.96 % 8,832,144 14,488 0.65 % Time deposits 6,408,592 22,157 1.37 % 5,771,695 16,655 1.15 % Total interest bearing deposits 18,301,807 50,772 1.10 % 16,110,154 33,346 0.82 % FHLB advances 4,810,674 17,734 1.46 % 5,107,913 11,800 0.92 % Notes and other borrowings 403,219 5,313 5.27 % 403,151 5,320 5.28 % Total interest bearing liabilities 23,515,700 73,819 1.25 % 21,621,218 50,466 0.93 % Non-interest bearing demand deposits 3,173,075 3,037,676 Other non-interest bearing liabilities 441,801 446,738 Total liabilities 27,130,576 25,105,632 Stockholders' equity 2,793,701 2,410,459 Total liabilities and stockholders' equity $ 29,924,277 $ 27,516,091 Net interest income $ 250,015 $ 237,088 Interest rate spread 3.31 % 3.51 % Net interest margin 3.52 % 3.67 % (1) On a tax-equivalent basis where applicable (2) Annualized (3) At fair value except for securities held to maturity BANKUNITED, INC. AND SUBSIDIARIES AVERAGE BALANCES AND YIELDS (Dollars in thousands) Years Ended December 31, 2017 2016 Average Balance Interest (1) Yield/ Rate (1) Average Balance Interest (1) Yield/ Rate (1) Assets: Interest earning assets: Non-covered loans $ 19,478,071 $ 730,701 3.75 % $ 17,282,886 $ 617,863 3.58 % Covered loans 544,279 300,540 55.22 % 721,268 301,614 41.82 % Total loans 20,022,350 1,031,241 5.15 % 18,004,154 919,477 5.11 % Investment securities (2) 6,658,145 201,363 3.02 % 5,691,617 161,385 2.84 % Other interest earning assets 543,338 14,292 2.63 % 541,816 12,204 2.25 % Total interest earning assets 27,223,833 1,246,896 4.58 % 24,237,587 1,093,066 4.51 % Allowance for loan and lease losses (156,471 ) (139,469 ) Non-interest earning assets 1,758,032 1,923,298 Total assets $ 28,825,394 $ 26,021,416 Liabilities and Stockholders' Equity: Interest bearing liabilities: Interest bearing demand deposits $ 1,586,390 12,873 0.81 % $ 1,382,717 8,343 0.60 % Savings and money market deposits 9,730,101 80,397 0.83 % 8,361,652 51,774 0.62 % Time deposits 6,094,336 77,663 1.27 % 5,326,630 59,656 1.12 % Total interest bearing deposits 17,410,827 170,933 0.98 % 15,070,999 119,773 0.79 % FHLB advances 4,869,690 61,996 1.27 % 4,801,406 47,773 0.99 % Notes and other borrowings 402,921 21,259 5.28 % 403,197 21,287 5.28 % Total interest bearing liabilities 22,683,438 254,188 1.12 % 20,275,602 188,833 0.93 % Non-interest bearing demand deposits 3,069,565 2,968,192 Other non-interest bearing liabilities 443,019 435,645 Total liabilities 26,196,022 23,679,439 Stockholders' equity 2,629,372 2,341,977 Total liabilities and stockholders' equity $ 28,825,394 $ 26,021,416 Net interest income $ 992,708 $ 904,233 Interest rate spread 3.46 % 3.58 % Net interest margin 3.65 % 3.73 % (1) On a tax-equivalent basis where applicable (2) At fair value except for securities held to maturity BANKUNITED, INC. AND SUBSIDIARIES EARNINGS PER COMMON SHARE (In thousands except share and per share amounts) Three Months Ended December 31, Years Ended December 31, 2017 2016 2017 2016 Basic earnings per common share: Numerator: Net income $ 417,794 $ 63,294 $ 614,273 $ 225,741 Distributed and undistributed earnings allocated to participating securities (15,865 ) (2,459 ) (23,250 ) (8,760 ) Income allocated to common stockholders for basic earnings per common share $ 401,929 $ 60,835 $ 591,023 $ 216,981 Denominator: Weighted average common shares outstanding 106,829,796 104,154,514 106,574,448 104,097,182 Less average unvested stock awards (1,108,945 ) (1,133,163 ) (1,104,035 ) (1,157,378 ) Weighted average shares for basic earnings per common share 105,720,851 103,021,351 105,470,413 102,939,804 Basic earnings per common share $ 3.80 $ 0.59 $ 5.60 $ 2.11 Diluted earnings per common share: Numerator: Income allocated to common stockholders for basic earnings per common share $ 401,929 $ 60,835 $ 591,023 $ 216,981 Adjustment for earnings reallocated from participating securities (130 ) (7 ) (263 ) 62 Income used in calculating diluted earnings per common share $ 401,799 $ 60,828 $ 590,760 $ 217,043 Denominator: Weighted average shares for basic earnings per common share 105,720,851 103,021,351 105,470,413 102,939,804 Dilutive effect of stock options 351,083 757,391 387,074 716,366 Weighted average shares for diluted earnings per common share 106,071,934 103,778,742 105,857,487 103,656,170 Diluted earnings per common share $ 3.79 $ 0.59 $ 5.58 $ 2.09 BANKUNITED, INC. AND SUBSIDIARIES SELECTED RATIOS Three Months Ended December 31, Years Ended December 31, 2017 2016 2017 2016 Financial ratios (5) Return on average assets 5.54 % 0.92 % 2.13 % 0.87 % Return on average assets, excluding the impact of the discrete income tax benefit and related professional fees (non-GAAP) 1.26 % 1.01 % Return on average stockholders’ equity 59.33 % 10.45 % 23.36 % 9.64 % Return on average stockholders' equity, excluding the impact of the discrete income tax benefit and related professional fees (non-GAAP) 13.47 % 11.08 % Net interest margin (4) 3.52 % 3.67 % 3.65 % 3.73 % December 31, 2017 December 31, 2016 Non- Covered Total Non- Covered Total Asset quality ratios Non-performing loans to total loans (1) (3) 0.82 % 0.81 % 0.71 % 0.70 % Non-performing assets to total assets (2) 0.60 % 0.61 % 0.51 % 0.53 % Allowance for loan and lease losses to total loans (3) 0.69 % 0.68 % 0.80 % 0.79 % Allowance for loan and lease losses to non-performing loans (1) 84.03 % 83.53 % 113.68 % 112.55 % Net charge-offs to average loans 0.38 % 0.38 % 0.13 % 0.13 % (1) We define non-performing loans to include non-accrual loans, and loans, other than ACI loans, that are past due 90 days or more and still accruing. Contractually delinquent ACI loans on which interest continues to be accreted are excluded from non-performing loans. (2) Non-performing assets include non-performing loans, OREO and other repossessed assets. (3) Total loans include premiums, discounts, and deferred fees and costs. (4) On a tax-equivalent basis. (5) Annualized for the three month periods. View source version on businesswire.com : http://www.businesswire.com/news/home/20180123005358/en/ BankUnited, Inc. Investor Relations: Leslie N. Lunak, 786-313-1698 llunak@bankunited.com Source: BankUnited, Inc.

http://www.cnbc.com/2018/01/23/business-wire-bankunitedainc-reports-2017-results.html

Breakingviews TV: Bank-tax bingo

Breakingviews TV: Bank-tax bingo 12:40pm EST - 03:03 John Foley and Richard Beales start spotting the effects of U.S. tax cuts on the first big bank earnings of the season from JPMorgan and Wells Fargo. One took a hit, the other a gain. Another buzzword may be CEO pay, where targets need to change. John Foley and Richard Beales start spotting the effects of U.S. tax cuts on the first big bank earnings of the season from JPMorgan and Wells Fargo. One took a hit, the other a gain. Another buzzword may be CEO pay, where targets need to change. //reut.rs/2D9bY6I

https://www.reuters.com/video/2018/01/12/breakingviews-tv-bank-tax-bingo?videoId=382308061

Agilent Technologies to Host Webcast of First-Quarter Fiscal Year 2018 Financial Results Conference Call

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Agilent Technologies Inc. (NYSE: A) will release first-quarter fiscal 2018 financial results after the stock market closes on February 14. The company will host a live webcast of its investor conference call in listen-only mode. Date: Wednesday, February 14, 2018 Time: 1:30 p.m. (Pacific Time) Web access: http://www.investor.agilent.com Listeners may log on and select “Q1 2018 Agilent Technologies Inc. Earnings Conference Call” in the “News & Events -- Calendar of Events” section. The webcast will remain on the company site for 90 days. In addition, a telephone replay of the conference call will be available at approximately February 14, 2018 at 4:30 p.m. (Pacific Time) after the call and through February 21 by dialing +1 855-859-2056 (or +1 404-537-3406 from outside the United States) and entering pass code 1482568. About Agilent Technologies Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions, and people provide trusted answers to its customers' most challenging questions. The company generated revenues of $4.47 billion in fiscal 2017 and employs 13,500 people worldwide. Information about Agilent is available at www.agilent.com . NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available on the Agilent news site at http://www.agilent.com/go/news . View source version on businesswire.com : http://www.businesswire.com/news/home/20180122006299/en/ INVESTOR CONTACT: Agilent Technologies Inc. Alicia Rodriguez, +1 408-345-8948 alicia_rodriguez@agilent.com Source: Agilent Technologies Inc.

http://www.cnbc.com/2018/01/22/business-wire-agilent-technologies-to-host-webcast-of-first-quarter-fiscal-year-2018-financial-results-conference-call.html

BRIEF-Krezus Plans To Acquire WMD For 160 Mln Zlotys

Jan 16 (Reuters) - KREZUS SA, BORYSZEW, IMPEXMETAL: * BORYSZEW AND ITS UNIT IMPEXMETAL SAID ON MONDAY THAT THEY HAVE RECEIVED AN OFFER FROM KREZUS FOR AN ACQUISITION OF WALCOWNIA METALI DZIEDZICE (WMD) FOR 160 MILLION ZLOTYS * KREZUS SAYS THAT THE FINAL PRICE WOULD BE SET AFTER DUE DILIGENCE CHECKS AND THE COMPANY PLANS TO PAY FOR THE TRANSACTION FROM AN INVESTMENT LOAN AND OWN FUNDS * BORYSZEW AND IMPEXMETAL INFORMED THAT THEY HAVE JOINED PRELIMINARY TALKS WITH KREZUS BUT THAT NO DECISION HAS BEEN MADE YET REGARDING THE POTENTIAL TRANSACTION * ALL THREE FIRMS ARE CONTROLLED BY THE POLISH BUSINESSMAN RYSZARD KARKOSIK Source text for Eikon:,, Further company coverage:,, (Gdynia Newsroom)

https://www.reuters.com/article/idUSL8N1PB0YT

Nigeria sues JP Morgan for $875 mln over Malabu oilfield deal

January 18, 2018 / 5:21 PM / Updated 10 minutes ago Nigeria sues JP Morgan for $875 million over Malabu oilfield deal Libby George , Julia Payne 4 Min Read LONDON (Reuters) - Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister. A spokeswoman for JP Morgan dismissed the accusation on Thursday, saying the firm “considers the allegations made in the claim to be unsubstantiated and without merit”. The suit filed in British courts relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011. At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block that the lawsuit says was deposited into a Nigerian government escrow account managed by JP Morgan. The lawsuit said JP Morgan then received a request from finance ministry workers to transfer more than $800 million of the funds to accounts controlled by the previous operator of the block, Malabu Oil and Gas, itself controlled by former oil minister Dan Etete. The lawsuit said that JP Morgan then transferred the funds to two accounts controlled by Etete, without sufficient due diligence to make sure the money did not leave accounts controlled by the Nigerian government. Reuters was unable to reach either Etete or Malabu for comment. MILAN CASE The filing seen by Reuters was made in London in November on behalf of the Federal Republic of Nigeria, and says that JP Morgan acted with gross negligence by allowing the transfer of the money without further checks. It said JP Morgan should have known that, under Nigerian law, the money should never have been transferred to an outside company. “If the defendant acted with reasonable care and skill and/or conducted reasonable due diligence it would or should have known or at least suspected ... that it was being asked to transfer funds to third parties who were seeking to misappropriate the funds from the claimant and/or that there was a significant risk that this was the case,” the filing said. Late last year, a Milan judge ruled that Shell and Eni must stand trial in Italy, where Eni is headquartered, for a separate legal case in which Milan prosecutors allege bribes were paid to Etete and others as part of the same oilfield deal, including sums that went to Etete’s Malabu.[nL8N1OK25L] Both Eni and Shell have repeatedly denied any wrongdoing in relation to that case. Malabu has never commented on the case and Reuters has not been able to contact it. [nL8N1HI1NA] Shell last year said it knew some of its payment to the Nigerian government as part of the deal would go to Malabu “to settle its claim on the block”, but that it was a legal transaction. [nL8N1HJ4EN] [nL8N1OK25L] There are also ongoing investigations regarding the deal in Nigeria and the Netherlands, where Shell is based. [nL8N1O53PS][nL5N1FG757] The license for the offshore block was awarded to Malabu in 1998 under then-President Sani Abacha, but Shell finalised a deal for the block with the Nigerian government in 2011. A British court, in a judgment late last year that agreed to return to Nigeria $85 million in frozen funds related to the deal, said that Malabu was controlled by Etete. [nL8N1N244M] Additional reporting by Alexis Akwagyiram in Lagos, Writing by Libby George; Editing by Andrew Heavens

https://www.reuters.com/article/us-nigeria-oil-jpmorgan/nigeria-sues-jp-morgan-for-875-mln-over-malabu-oilfield-deal-idUSKBN1F72HB

H&M slammed for racist 'monkey in the jungle' hoodie

H&M ( Hennes & Mauritz ) is under fire for using a black child to model a sweatshirt sporting the phrase "coolest monkey in the jungle." The image first appeared over the weekend on the British version of the Swedish-based retailer's website. Upon noticing an advertisement with the photo, social media users erupted in outrage at H&M for what they deemed to be a racist and inconsiderate move. American percussionist Questlove was among those to object, writing on Instagram (where he has over 1 million followers): I’m sure the apologies are a coming. And the ads will be pulled. I’m certain there will Be media fixers and whatnot and maybe a grand gesture like a donation to some charity (donations under these circumstances are the corporate version #SomeOfMyBestFriendsAre move if there ever was one) all this tells me about @HM is that the seats in the boardroom lack something...wanna take a guess? A post shared by Questlove Gomez (@questlove) on Jan 8, 2018 at 5:42am PST As of Monday morning, H&M had removed the ad from its website, a spokesperson told CNBC, but it continued to sell the hooded top online, although not in the U.S. "We sincerely apologize for offending people with this image of a printed hooded top," the spokesperson said. "We believe in diversity and inclusion in all that we do and will be reviewing all our internal policies accordingly to avoid any future issues." Later in the day, Canadian singer The Weeknd, who has collaborated with H&M on collections in the past, wrote on Twitter to say he would no longer work with the company and was "deeply offended." This incident adds to a growing list of retailers going too far with a slogan or imagery. Abercrombie & Fitch , for example, was criticized for selling a shirt depicting the Wong Brothers' laundry service, where "two Wongs can make it white," and "Get Your Buddha on the Floor." Urban Outfitters once sold a red sweatshirt bearing the Kent State name and what appeared to be a blood splatter. And Zara, owned by Inditex, stirred up controversy when it released a striped blue-and-white children's pajama top with a yellow star over the left chest, resembling uniforms worn by concentration camp inmates during the Holocaust. The blunder for H&M comes right after the retailer in December reported its biggest drop in quarterly sales in at least a decade. In turn, H&M has trimmed its expansion plans and is even considering closing some locations.

https://www.cnbc.com/2018/01/08/hm-slammed-for-racist-monkey-in-the-jungle-hoodie.html

Turkish court jails three for life over bombing of German tourists

January 31, 2018 / 2:51 PM / Updated 16 minutes ago Turkish court jails three for life over bombing of German tourists Reuters Staff 2 Min Read ISTANBUL (Reuters) - A Turkish court sentenced three people to multiple life sentences on Wednesday in connection with a bombing that killed 12 German tourists in Istanbul two years ago. A suicide bomber, Saudi-born Syrian Nabil Fadli, killed the tourists when he blew himself up in Sultanahmet, Istanbul’s historic heart, on Jan. 12, 2016. Turkish authorities blamed Islamic State for the attack. Two Syrians, Atala el-Hasan el-Mayyup and Fevzi Muhammed Ali, and a Turkish man, Halil Dervis, were found guilty of aiding murder, trying to overthrow the government and constitution, membership of a terrorist organisation and committing crimes in the name of an armed terrorist organisation. They were each given 12 aggravated life sentences, 12 terms of 16 years and 16 eight-year terms for the injuries caused. They were also given nine years for transporting explosives from Syria, for a total of 329 years each on top of the multiple life sentences. A lawyer for two of the convicted, Atanur Demir, said the investigation into the case was not thorough and that he would challenge the verdict. “I am of the opinion that this verdict will be overturned by the appeals court,” he said. One other defendant received a six-year sentence for membership in a terrorist organisation. Unlike the others, he was released pending appeal. Eighteen defendants were found not guilty and four others remain at large. The bomber, Fadli, was born in Saudi Arabia in 1988 where his father was teaching. He fought in the ranks of Islamic State in Syria and was at one stage captured and tortured, before entering Turkey a few weeks before the attack, officials said. Fadli registered as a refugee with authorities in Istanbul in early January, 2016, before blowing himself up among groups of tourists in Sultanahmet Square near the Blue Mosque and Hagia Sophia, striking at the heart of Turkey’s tourism industry. Reporting by Ali Kucukgocment; Writing by Dominic Evans; Editing by David Dolan and Andrew Heavens

https://uk.reuters.com/article/uk-turkey-security-verdict/turkish-court-jails-three-for-life-over-bombing-of-german-tourists-idUKKBN1FK244

Validus Holdings, Ltd. Cancels Fourth Quarter and Year End 2017 Financial Results Conference Call and Webcast

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE:VR) announced today that, in light of its definitive agreement to be acquired by leading global insurer American International Group, Inc. (NYSE: AIG), the company is canceling its fourth quarter and year ended 2017 conference call and webcast that was previously scheduled for Friday, February 2, 2018 at 10:00 a.m. Eastern Time. Validus will issue its fourth quarter 2017 results earnings release and related SEC filings as previously scheduled on Thursday, February 1, 2018, after market close. Supplemental materials related to its fourth quarter earnings will be available via the Investor Relations section of the Validus website at www.validusholdings.com . About Validus Holdings, Ltd. Validus Holdings, Ltd. is a leading global provider of reinsurance, insurance, and asset management services, delivering its premier solutions through four diversified yet complementary operating companies: Validus Reinsurance, Ltd., a global reinsurance group focused primarily on treaty reinsurance; Talbot Underwriting Ltd., a specialty (re)insurance group operating within the Lloyd’s market through Syndicate 1183; Western World Insurance Group, Inc., a U.S. specialty lines organization; and AlphaCat Managers, Ltd., a Bermuda-based investment advisor managing capital for third parties and Validus through insurance-linked securities and other property catastrophe and specialty reinsurance investments. Research and analytics are at the core of Validus’ operations and provide its team of expert practitioners with the knowledge and insight required to effectively model and interpret risk – an approach that consistently benefits clients and ensures their needs are met. Validus maintains a worldwide presence with more than 1,000 employees in 19 offices across all major regions and is listed on the New York Stock Exchange under the ticker symbol VR. More information about the Validus group of companies can be found at validusholdings.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180129005744/en/ Investors: Validus Holdings, Ltd. Investor.Relations@ValidusHoldings.com +1-441-278-9000 or Media: Brunswick Group Mustafa Riffat / Charlotte Connerton +1-212-333-3810 Source: Validus Holdings, Ltd.

http://www.cnbc.com/2018/01/29/business-wire-validus-holdings-ltd-cancels-fourth-quarter-and-year-end-2017-financial-results-conference-call-and-webcast.html

Anworth Announces 2017 Dividend Tax Information

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Anworth Mortgage Asset Corporation (NYSE: ANH), a real estate investment trust (REIT), announced today tax information regarding its dividend distributions for the Company’s fiscal year ended December 31, 2017. Stockholders should check the tax statements they receive from brokerage firms to ensure that the Anworth dividend information reported in those statements conforms to the information reported herein. Furthermore, stockholders should consult their tax advisors to determine the taxes that should be paid on Anworth’s dividends. As a REIT, Anworth’s dividends are generally not eligible for rate reductions enacted for certain types of dividend income under the Jobs and Growth Tax Relief Reconciliation Act of 2003. Thus, the portion of Anworth’s dividends that are characterized as ordinary income generally will be taxed at full ordinary income rates. For stockholders that are corporations, Anworth’s dividends are not eligible for the corporate dividends-received deduction. Any dividend distribution, or portion thereof, that is carried over to 2018 will be eligible for a 20% deduction from gross income under the new tax law that is effective for 2018. As each stockholder’s tax situation may be different and each dividend distribution may have its own separate tax status, the tables below provide the detailed tax information for each of Anworth’s dividends declared during our 2017 fiscal year: 8.625% Series A Cumulative Preferred Stock (CUSIP 037347 20 0) 2017 Total 2017 2017 Short-Term Declaration Record Payable Distribution Ordinary Return of Capital Carry-Over Date Date Date Per Share income Capital Gains to 2018 10/14/16 12/30/16 01/17/17 $ - $ - $ - $ - $ - 01/26/17 03/31/17 04/17/17 0.539063 0.539063 - - - 04/26/17 06/30/17 07/17/17 0.539063 0.539063 - - - 07/27/17 09/29/17 10/16/17 0.539063 0.539063 - - - 10/26/17 12/29/17 01/16/18 0.539063 0.205063 - - 0.334000 Total: $ 2.156252 $ 1.822252 $ - $ - $ 0.334000 6.25% Series B Cumulative Convertible Preferred Stock (CUSIP 037347 30 9) 2017 Total 2017 2017 Short-Term Declaration Record Payable Distribution Ordinary Return of Capital Carry-Over Date Date Date Per Share (1) income Capital Gains to 2018 10/14/16 12/30/16 01/17/17 $ 0.006634 $ 0.006634 $ - $ - $ - 01/26/17 03/31/17 04/17/17 0.397776 0.397776 - - - 04/26/17 06/30/17 07/17/17 0.399958 0.399958 - - - 07/27/17 09/29/17 10/16/17 0.396970 0.396970 - - - 10/26/17 12/29/17 01/16/18 0.390625 0.148596 - - 0.242029 Total: $ 1.591963 $ 1.349934 $ - $ - $ 0.242029 (1) The Series B Preferred Stock is convertible into shares of our common stock. The conversion rate is adjusted per a stated formula when distributions are made to our common stockholders. The value of any conversion rate increase is a deemed distribution for tax purposes and is taxable to holders of our Series B Preferred Stock to the extent supported by earnings and profits and is included in the table above. See Forms 8937 on our Company website for additional details. 7.625% Series C Cumulative Redeemable Preferred Stock (CUSIP 037347 40 8) 2017 Total 2017 2017 Short-Term Declaration Record Payable Distribution Ordinary Return of Capital Carry-Over Date Date Date Per Share income Capital Gains to 2018 10/14/16 12/30/16 01/17/17 $ - $ - $ - $ - $ - 01/26/17 03/31/17 04/17/17 0.476563 0.476563 - - - 04/26/17 06/30/17 07/17/17 0.476563 0.476563 - - - 07/27/17 09/29/17 10/16/17 0.476563 0.476563 - - - 10/26/17 12/29/17 01/16/18 0.476563 0.181288 - - 0.295275 Total: $ 1.906252 $ 1.610977 $ - $ - $ 0.295275 Common Stock (CUSIP 037347 10 1) 2017 Total 2017 2017 Short-Term Declaration Record Payable Distribution Ordinary Return of Capital Carry-Over Date Date Date Per Share income Capital Gains to 2018 12/16/16 12/30/16 01/30/17 $ 0.062630 $ 0.062630 $ - $ - $ - 03/15/17 03/31/17 04/28/17 0.150000 0.150000 - - - 06/15/17 06/30/17 07/28/17 0.150000 0.150000 - - - 09/15/17 09/29/17 10/27/17 0.150000 0.150000 - - - 12/15/17 12/29/17 01/29/18 0.150000 - - - 0.150000 Total: $ 0.662630 $ 0.512630 $ - $ - $ 0.150000 Because Anworth is a REIT, dividends declared in October, November, or December of a calendar year with a record date in that calendar year but which are payable in January of the following year are considered paid for Form 1099 reporting purposes on the record date, not on the payable date, to the extent the REIT has any remaining undistributed earnings and profits (as computed for income tax purposes) as of December 31 of that calendar year. The amounts shown above that were declared in the fourth quarter of 2016 but not paid until January 2017 represent the per share amount of the distributions paid which exceeded Anworth’s undistributed earnings and profits for income tax purposes as of December 31, 2016 and which were not included in the 2016 tax year but were carried over to 2017 as ordinary income for income tax purposes. The amounts shown above in the column labeled Carry Over to 2018 represent the per share amount of the distributions payable in January 2018 which exceeded Anworth’s undistributed earnings and profits for income tax purposes as of December 31, 2017. These amounts will be treated for income tax purposes as 2018 distributions to the Anworth stockholders to whom the distributions were payable in January 2018. Dividends may be reinvested through Anworth’s Dividend Reinvestment Plan. Plan information may be obtained from the Plan Administrator, American Stock Transfer and Trust Company, at 877-248-6410, on Anworth’s web site at http://www.anworth.com , or by contacting Anworth at 310-255-4493. About Anworth Mortgage Asset Corporation Anworth is an externally-managed mortgage real estate investment trust. We invest primarily in mortgage-backed securities that are either rated “investment grade” or are guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac. We seek to generate income for distribution to our shareholders primarily based on the difference between the yield on our mortgage assets and the cost of our borrowings. We are managed by Anworth Management LLC, or the Manager, pursuant to a management agreement. The Manager is subject to the supervision and direction of our Board of Directors and is responsible for (i) the selection, purchase, and sale of our investment portfolio; (ii) our financing and hedging activities; and (iii) providing us with management services and other services and activities relating to our assets and operations as may be appropriate. Our common stock is traded on the New York Stock Exchange under the symbol “ANH.” Anworth is a component of the Russell 2000® Index. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon our current expectations and speak only as of the date hereof. Forward-looking statements, which are based on various assumptions (some of which are beyond our control) may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as “may, ” “will, ” “believe, ” “expect, ” “anticipate, ” “assume,” “estimate,” “intend,” “continue, ” or other similar terms, or variations on those terms, or the negative of those terms. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including but not limited to, changes in interest rates; changes in the market value of our mortgage-backed securities; changes in the yield curve; the availability of mortgage-backed securities for purchase; increases in the prepayment rates on the mortgage loans securing our mortgage-backed securities; our ability to use borrowings to finance our assets and, if available, the terms of any financing; risks associated with investing in mortgage-related assets; changes in business conditions and the general economy, including the consequences of actions by the U.S. government and other foreign governments to address the global financial crisis; implementation of or changes in government regulations affecting our business; our ability to maintain our qualification as a real estate investment trust for federal income tax purposes; our ability to maintain an exemption from the Investment Company Act of 1940, as amended; risks associated with our home rental business; and the Manager’s ability to manage our growth. Our Annual Report on Form 10-K and other SEC filings discuss the most significant risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. View source version on businesswire.com : http://www.businesswire.com/news/home/20180130006338/en/ Anworth Mortgage Asset Corporation John T. Hillman 1299 Ocean Avenue, Second Floor Santa Monica, CA 90401 (310) 255-4438 or (310) 255-4493 Email: jhillman@anworth.com Web site: http://www.anworth.com Source: Anworth Mortgage Asset Corporation

http://www.cnbc.com/2018/01/30/business-wire-anworth-announces-2017-dividend-tax-information.html

Hoping to reset agenda, Britain's May appoints new Conservative Party chairman

LONDON (Reuters) - British Prime Minister Theresa May named an ally to run the ruling Conservatives and promoted younger ministers on Monday to try to give her divided party and government a new start after a year marred by an ill-judged election, rows over Brexit and scandals. May, weakened by the loss of the Conservative Party’s majority in June’s election gamble, hoped to reset her agenda and further Britain’s departure from the European Union after winning a deal to move to a second phase of Brexit negotiations. But by keeping her team’s ‘big beasts’ - the finance, Brexit, foreign and interior ministers, some opposition lawmakers questioned her ability to fully reassert her authority with the reshuffle after the setbacks last year. After a difficult start when her party had to delete a tweet naming the wrong person as its new chairman, May went on to promote more women, black and younger lawmakers to challenge critics who call the Conservatives “male, pale and stale”. “It’s an opportunity to refresh the government and just to give added impetus to the prime minister’s reform agenda while continuing to deliver on Brexit,” her spokesman said. Despite winning agreement from the EU to move Brexit talks to a discussion of future trade and a transitional deal, May has been criticized at home for her approach to healthcare, housing, transport and Britain’s departure from the bloc. Her Conservative Party is also reported to be losing members at a time when the main opposition Labour Party, under leftist leader Jeremy Corbyn, is enjoying record levels of support, suggesting to some that it is on course to win a new election due in 2022. To combat this, May appointed two popular Conservatives to become the chairman and deputy chair of the party - immigration minister Brandon Lewis and lawmaker James Cleverly. Britain's Prime Minister Theresa May poses with Brandon Lewis and James Cleverly and other members of their teams outside 10 Downing Street, London, January 8, 2018. REUTERS/Simon Dawson “I look forward to working with our dedicated membership, volunteers across the country and the excellent team in CCHQ (Conservative Campaign Headquarters) as we look ahead to elections this year and beyond,” the 46-year-old Lewis, a supporter of May’s leadership bid in 2016, said in a statement. His move was welcomed by many in the party, who had criticized former chairman Patrick McLoughlin for failing to broaden the party’s appeal and to prepare for the June election. “(Lewis is) the type who might have the guts and inclination to take on the party internally and to be a loud media voice to take away the heat from Theresa May,” a Conservative member said. “He’s not usually scared of a fight.” Slideshow (4 Images) Brexit minister David Davis, foreign minister Boris Johnson, finance minister Philip Hammond and interior minister Amber Rudd all kept their positions, along with Greg Clark who leads the business ministry. David Lidington was appointed as minister for the cabinet office, replacing May’s closest friend in parliament, Damian Green, who was forced to resign last year over misleading statements over pornography found on his computer. But in a blow to her, the minister for Northern Ireland, James Brokenshire, stepped down because of ill-health. He had been trying to help officials form a power-sharing government to avoid any return to violence between pro-British unionists and Irish nationalists that scarred the province for decades. He will be replaced a May loyalist, Karen Bradley. The Liberal Democrats’ Alistair Carmichael said the reshuffle could be summed up as “nothing has changed”, repeating words used by May at one of the lowest points in her election campaign when she was forced to change policy over social care. “Theresa May wanted to reassert her authority but has come out of this looking weaker than ever,” he said in a statement. Additional reporting by Alistair Smout; Editing by Richard Balmforth

https://www.reuters.com/article/us-britain-politics/hoping-to-reset-agenda-britains-may-appoints-new-conservative-party-chairman-idUSKBN1EX1BH

RPT-China 2017 fixed asset investment grows 7.2 pct, slowest since 1999

(Repeats to attach to alerts.) BEIJING, Jan 18 (Reuters) - China’s fixed-asset investment rose 7.2 percent in 2017, more than expected but the slowest annual pace since 1999. Analysts polled by Reuters had predicted full-year investment growth of 7.1 percent, cooling from 7.2 percent in the first 11 months of the year and 8.1 percent growth in 2016. Private sector fixed-asset investment rose 6.0 percent in 2017, up from an increase of 5.7 percent in the first 11 months of the year and compared with 3.2 percent growth in 2016. Industrial output rose 6.2 percent in December from a year earlier, the National Bureau of Statistics said on Thursday, higher than analysts’ estimates for a rise of 6.0 percent. Output rose 6.1 percent in November on-year. For full-year 2017, industrial output rose 6.6 percent, up from 6.0 percent growth in 2016. Retail sales rose 9.4 percent in December from a year earlier, missing expectations. Analysts had forecast they would rise 10.1 percent, slightly lower than a 10.2 percent rise in November. For the year, retail sales rose 10.2 percent, compared to 10.4 percent growth in 2016. China’s GDP growth in Q4 2017 was unchanged from the Q3 at 6.8 percent. Policy sources told Reuters previously that China will keep its GDP growth target at around 6.5 percent in 2018 as Beijing seeks to balance efforts to reduce debt risks while keeping the economy on a steady footing. (Reporting by Kevin Yao and Cheng Fang; Editing by Sam Holmes)

https://www.reuters.com/article/china-economy-activity/rpt-china-2017-fixed-asset-investment-grows-7-2-pct-slowest-since-1999-idUSB9N1P500S

Trump administration to end Obama-era marijuana policy: source

WASHINGTON (Reuters) - The U.S. Justice Department on Thursday rescinded an Obama administration policy that had eased enforcement of federal marijuana laws in states that legalized the drug, instead giving federal prosecutors wide latitude on pursuing criminal charges. The action by Attorney General Jeff Sessions could have damaging consequences on the burgeoning marijuana industry in the six states including California and Colorado that have legalized the drug for recreational use, plus dozens of others that permit medicinal use. Justice Department officials who briefed reporters about the policy change declined to say whether the department might take legal action against those states, saying further steps were “still under consideration.” Sessions, known as a strong opponent of legalizing marijuana, stopped short of directly encouraging U.S. prosecutors to bring marijuana cases. His action, outlined in a one-page memo, drew condemnation from marijuana legalization advocates and politicians in both parties who said it trampled on the rights of voters in states where the drug is now legal and created uncertainty about how strictly federal drugs laws will be enforced. The announcement came three days after California formally launched the world’s largest regulated commercial market for recreational marijuana. The administration’s move raised questions about how it might impact tax revenues in states that permit some form of legal marijuana use. It also created uncertainty for banks, which have already been fearful about having a business relationship with the marijuana industry due to concerns they might run afoul of anti-money laundering rules. The policy put in place under Democratic former President Barack Obama, outlined by then-Deputy Attorney General James Cole in a series of memos, recognized marijuana as a “dangerous drug,” but said the Justice Department expected states and localities that authorized various uses of the drug to effectively regulate and police it. The Obama-era policy had discouraged federal prosecutors from pursuing marijuana-related criminal crimes in states that had legalized the drug. The Trump administration policy gives federal prosecutors around the country discretion to enforce the existing federal ban on marijuana. There has been a surge in legalization of marijuana in U.S. states in recent years. Other states that permit the regulated sale of marijuana for recreational use also include Washington, Oregon, Alaska, and Nevada. Massachusetts and Maine are on track to do so this year. FILE PHOTO: A bag of marijuana being prepared for sale sits next to a money jar at BotanaCare in Northglenn, Colorado, U.S., December 31, 2013. REUTERS/Rick Wilking/File Photo California Lieutenant Governor Gavin Newsom, a Democrat, said his state will pursue “all legal, legislative and political options to protect its reforms and its rights as a state.” He said the Trump administration’s position “defies facts and logic.” Republican Senator Cory Gardner of Colorado said on Twitter that the administration’s action “directly contradicts what Attorney General Sessions told me prior to his confirmation.” Gardner added that he would take all steps necessary to fight the measure, including possibly holding up the Senate from voting on pending Justice Department nominees. The administration’s action seemed incongruous with comments that Trump made during the 2016 presidential campaign. Trump told a TV news reporter that the decision to legalize marijuana should be left “up to the states.” Slideshow (3 Images) MARIJUANA BUSINESSES Among companies that have invested in the industry, Scotts Miracle-Gro, a gardening product manufacturer, has spent hundreds of millions of dollars to acquire companies that sell soil, lighting, fertilizer and other products to marijuana growers. Shares in the company dropped 3.8 percent to $104.54 after the news of the policy shift, before paring losses later in the morning. Several Canadian marijuana-related stocks also fell sharply. Sessions has made no secret about his disdain for marijuana. He has said the drug is harmful and should not be legalized, and has also called it a gateway drug for opioid addicts. The Sessions memo did not distinguish between enforcement against marijuana used for recreational versus medicinal purposes. But his department’s ability to pursue criminal charges related to medicinal marijuana remains in doubt. Since 2014, federal lawmakers have attached language to spending legislation that explicitly bars the Justice Department from spending resources to enforce cases in states where medicinal marijuana is legal. The San Francisco-based 9th U.S. Circuit Court of Appeals in 2016 ruled that the Justice Department cannot prosecute people over medicinal marijuana if they complied with their state’s rules and regulations. But the ruling held that people who violate the medicinal marijuana laws in their states can face federal criminal prosecution. A task force created under a Trump February 2017 executive order, comprised of prosecutors and other law enforcement officials, was supposed to study marijuana enforcement, along with other policy areas, and issue recommendations. Its recommendations were due in July 2017, but the Justice Department has not made public what the task force determined was appropriate for marijuana. Department officials on Thursday declined to disclose what the task force recommended. Reporting by Sarah N. Lynch; Additional reporting by Susan Heavey; Editing by Will Dunham and Frances Kerry

https://www.reuters.com/article/us-usa-justice-marijuana/trump-administration-to-end-obama-era-marijuana-policy-source-idUSKBN1ET1MU

After turning big idea into bank, Atom chairman steps down

LONDON, Jan 25 (Reuters) - The chairman and founder of Britain’s Atom Bank stepped down on Thursday, saying his job was done after helping the business grow from a big idea in 2012 to an established lender. Anthony Thomson, who previously co-founded Metro Bank , one of the most successful challengers to Britain’s big four lenders, will be succeeded by Bridget Rosewell, chair of Atom Bank’s audit committee. Since opening for business in 2014 as a digital-only bank focused on savings accounts and mortgages, Atom has collected more than 1 billion pounds ($1.43 billion) in deposits and lent the same amount to small businesses and homeowners. It is one of a number of branch-free banks that have sprung up in Britain in recent years to take on the likes of Barclays , HSBC, Royal Bank of Scotland and Lloyds. Atom has gone from “being a big idea disguised as a small bank to a big idea and a big bank”, Thomson said in a statement. “I have loved doing this with Atom but, as the bank moves into a new phase of development, I feel the time is right for me to step down from the role of chairman.” While attracting less limelight than some of its peers, such as app-only bank Monzo, Atom has quietly raised significant funding from high-profile backers including Spanish lender BBVA . So far it has received 250 million pounds from investors and is planning a further fundraising round. ($1 = 0.7018 pounds) (Reporting by Emma Rumney; Editing by David Goodman)

https://www.reuters.com/article/atom-bank-moves-chairman/after-turning-big-idea-into-bank-atom-chairman-steps-down-idUSL8N1PK26I

UPDATE 1-Peugeot owner PSA strikes Opel plant deal with Spanish unions

(Changes dateline, adds company comments, details) By Laurence Frost and Robert Hetz PARIS/MADRID, Jan 30 (Reuters) - PSA Group struck a cost-cutting deal with Spanish unions at its newly acquired Opel division, as the French carmaker’s chief executive Carlos Tavares wrings concessions from workers in return for investment. The maker of Peugeot and Citroen cars said in a statement on Tuesday it had reached agreement on a new contract with unions representing 75 percent of employees at Opel’s Zaragoza plant. Opel, which PSA bought last year from General Motors, had warned that production of the next Corsa mini could move elsewhere unless a deal was reached to align costs with PSA’s other two Spanish plants in Vigo and Madrid. Tavares is applying similar pressure at Opel’s Vauxhall factory in Ellesmere Port, northern England, where he says production costs are twice those at PSA’s French sites, adding to Brexit uncertainties weighing on the plant. To take effect, the Spanish labour deal needs to be ratified by a full ballot of Opel workers, PSA said. The Zaragoza plant in northeastern Spain employs around 5,300 people and ran at 80 percent capacity last year. The group is “convinced that the employees will understand the need to secure the future of the site through the performance plan, which will pave the way for new investments and projects,” it added. PSA gave no details of the five-year framework agreement, which local newspaper Heraldo said provides for a wage freeze for 2018 followed by increases at half the level of inflation and a 5 percent cut to overtime pay. Union sources said late on Monday that an accord was reached after more than 12 hours of talks and shortly before a deadline imposed by PSA. (Additional reporting by Paul Day in Madrid; Editing by Louise Heavens and Alexander Smith)

https://www.reuters.com/article/peugeot-spain/update-1-peugeot-owner-psa-strikes-opel-plant-deal-with-spanish-unions-idUSL8N1PP42B

Colombia's FARC launch 2018 campaign with anti-poverty pledge

January 27, 2018 / 11:55 PM / in 7 hours Colombia's FARC launch 2018 campaign with anti-poverty pledge Reuters Staff 2 Min Read BOGOTA (Reuters) - Colombia’s FARC political party, made up of former members of the rebel group, on Saturday launched its campaign for this year’s legislative and presidential elections with a promise to fight poverty and corruption. The ballots will mark the party’s electoral debut after thousands of members handed in their weapons under a deal signed with the government of President Juan Manuel Santos in 2016 that ended more than 52 years of war. The group has renamed itself the Revolutionary Alternative Common Force, preserving its FARC initials. “I am committed to heading up a transitional government which will create the conditions for the birth of a new Colombia,” said long-time rebel leader and presidential candidate Rodrigo Londono, known by his nom de guerre Timochenko, to cheering supporters in a working-class neighborhood in southern Bogota. “May the voice of those below, those millions and millions of poor who have never counted, may they be listened to, may they decide their future,” Londono added. Slideshow (6 Images) The group’s platform includes free university education, improvements to healthcare paid for by the rich, the construction of roads and electrical lines, and spending on scientific research. Hundreds of supporters, many wearing shirts with the party’s rose logo, danced to a campaign jingle and waved white flags emblazoned with “Timo President,” referring to Londono’s nickname. Besides the May presidential election, the party will field 74 candidates in legislative elections in March, hoping to win more than the 10 seats that it is guaranteed through 2026 under the terms of the peace deal. Many Colombians remain angry at the FARC, infamous for kidnappings, bombings and displacements, and believe its members should be in prison, not running for congressional seats. Recent opinion polls have shown little support for the party. Reporting by Julia Symmes Cobb; Editing by Helen Murphy and Daniel Wallis

https://www.reuters.com/article/us-colombia-peace/colombias-farc-launch-2018-campaign-with-anti-poverty-pledge-idUSKBN1FG0YM

CPG International LLC Announces Corporate Rebranding, Changes Name to The AZEK® Company

SKOKIE, Ill., Jan. 8, 2018 /PRNewswire/ -- The AZEK Company, formerly known as CPG International LLC, today announced the company's new name, which reflects its growing share of the expanding residential and commercial building products market. The rebranding is part of the organization's strategy to disrupt the nearly $2 billion wood deck and railing industry by concentrating on its leading, premium offerings and diversifying its portfolio through strategic acquisitions of other offerings in adjacent categories. "As The AZEK Company, we are committed to engineering and manufacturing beautiful, high-quality and low-maintenance building products to improve the spaces where our customers live, work and play," said Jesse Singh, CEO of The AZEK Company. "We will continue to expand our pipeline this year and grow our market share by engineering more premium building products and acquiring new offerings that envelop the house." With expertise in materials science and more than 1,000 employees, The AZEK Company is growing across Illinois and within its manufacturing facilities in Pennsylvania and Ohio. It is also expanding its footprint with regional sales associates across the United States and Canada. A central part of The AZEK Company's strategy for growth is a strong focus on reusing recycled plastics and turning them into superior residential and commercial building products that outlast wood and other raw materials. The company's three divisions – AZEK® Building Products, Scranton Products and Vycom – all convert recyclables into a diversified suite of products. Over the past five years, AZEK Building Products alone has saved more than 900,000 trees, setting The AZEK Company apart and giving it a distinct competitive advantage in the building materials space. About The AZEK Company The AZEK Company LLC is an industry-leading manufacturer of beautiful, low-maintenance residential and commercial building products, committed to innovation, sustainability and research and design. Headquartered in Skokie, IL, in the greater Chicago area, the company also operates highly automated manufacturing facilities in Scranton, PA, and Wilmington, OH. The company's products are marketed under several brands, including AZEK® and TimberTech® for residential building materials, Scranton Products for commercial building materials, and Vycom for industrial building materials. For additional information, visit azekco.com . Press Contact: Kelly Harbaugh Edelman (312) 240-2897 kelly.harbaugh@edelman.com View original content with multimedia: http://www.prnewswire.com/news-releases/cpg-international-llc-announces-corporate-rebranding-changes-name-to-the-azek-company-300579045.html SOURCE The AZEK Company

http://www.cnbc.com/2018/01/08/pr-newswire-cpg-international-llc-announces-corporate-rebranding-changes-name-to-the-azeka-company.html

Father’s sacrifice helps Kim become snowboard star

LONDON (Reuters) - Chloe Kim has the chance to become the youngest female snowboarder to win Olympic gold when the 2018 Pyeongchang Games kick off in South Korea next month and the American teen says she owes much of her success to her dedicated dad. Kim met the qualifying standards for Sochi four years ago but was deemed too young to compete. She shrugged off that disappointment to claim her first X Games silver medal the same year aged 13. Kim went on to become the first athlete to win three X Games gold medals under the age of 16 and won two golds at the 2016 Winter Youth Olympics in Lillehammer, where she was also her nation’s flag bearer at the opening ceremony. Kim is also the first female athlete to land back-to-back 1080s and score a perfect 100, according to U.S. Ski and Snowboard. Kim, who will not turn 18 until two months after February’s Games, qualified for Team USA with a podium finish at the Olympic qualifier in Colorado on Dec. 15. If being an Olympic favorite was not enough pressure for a 17-year-old to handle, Kim’s Korean heritage means there will be two nations counting on her to win gold in Pyeongchang. With family still living in South Korea, Kim knows she can expect plenty of attention from the host nation at the Feb. 9-25 Games. Born in California, she says she identifies more with American culture but is proud of her Korean heritage and tries to visit her family once a year. ”My grandmother lives in Korea and I love her. She is the cutest little old lady I have ever seen in my life,” she said at the Team USA Media Summit in September. OLYMPIC FEVER As Olympic fever takes hold in South Korea, Kim says she has been overwhelmed by the support she received on previous visits to the country. “It was really crazy, I had a real paparazzi moment there. It was kind of cool, I felt like Kim Kardashian,” said Kim. “I was doing something where I got to ride with young Korean riders and it kind of freaked me out. I have never had that many cameras around me before. I look up and there’s like 25 cameras around me and I straight up ran away I was so scared.” Kim says she is “obsessed” with snowboarding and credits her father’s determination with getting her to the Olympics. Her father, Kim Jong-jin, first encouraged her to get on a snowboard aged four and later gave up his job to focus on his daughter’s budding snowboarding career. “Obviously when I was eight I didn’t know what they were doing. I was like, why is dad home more?” she said. “Now that I think about it, I think it was a really bold move and I can’t believe my mum was okay with it. I think that’s so cool. My dad is a very dedicated, determined person; once he sees something he wants he has to get it. ”I‘m not saying he forced me to snowboard, I genuinely love snowboarding so it was nice he was that determined to bring me to the Olympics.” Additional reporting by Steve Keating; Editing by Peter Rutherford

https://www.reuters.com/article/us-olympics-2018-fski-kim/fathers-sacrifice-helps-kim-become-snowboard-star-idUSKBN1EZ1IG

Telecom Italia considering thousands of incentivised layoffs in Italy - sources

MILAN, Jan 8 (Reuters) - Telecom Italia is considering cutting thousands of jobs in Italy through incentivised layoffs, union sources said on Monday. Italy’s biggest phone group, which employs almost 60,000 people in its domestic operations, has not made any official announcements on the matter. According to the sources, TIM would like to cut some staff to make space for new hires, reducing the average age of its workforce. The company declined to comment. The phone group, whose biggest shareholder is French media group Vivendi, is already using so-called solidarity contracts, under which workers agree to work less on condition that nobody is laid off. The current solidarity contracts, whose unworked hours are the equivalent of around 5,000 jobs, expired at the end of 2017 and a decision has yet to be taken on whether to extend them. If not, most those jobs could be cut, the sources added. Another 4,000-5,000 workers may meet the requirements of a legislation that allows for early retirement, the people said. First meeting with unions is scheduled for Jan. 18. Reporting by Stefano Rebaudo, writing by Agnieszka Flak

https://www.reuters.com/article/telecomitalia-jobs/telecom-italia-considering-thousands-of-incentivised-layoffs-in-italy-sources-idUSL8N1P344U

Interview: Leading lady of Italy's right campaigns for a baby boom

January 31, 2018 / 2:53 PM / Updated an hour ago Interview: Leading lady of Italy's right campaigns for a baby boom Isla Binnie 6 Min Read ROME (Reuters) - When a seven months-pregnant Giorgia Meloni put herself forward for the post of mayor of Rome in 2016, her ally Silvio Berlusconi told her that a mother could not do such a tough job. She stood anyway and lost, partly because her conservative allies deserted her. Two years later, the pair have linked up in a centre-right coalition to fight a national election on March 4, with Meloni insisting that their joint programme include measures to help working mothers and encourage people to have children. Her party, the Brothers of Italy, which traces its roots to the post-Fascist Italian Social Movement, is a small but crucial component in the alliance that polls suggest will win the election, while probably falling short of a working majority. “The first thing we asked for was a grand plan to sustain the birth rate and give incentives to become parents, which is a priority in our programme,” Meloni, the only woman to lead a high-profile party into the election, told Reuters in an interview. “Too many women have to choose between being a mother and having a job.” Since becoming Italy’s youngest ever minister 10 years ago, the 41-year-old has campaigned on a hard-right, nationalist platform with the credo “Italians First”. She says that if Italy’s birth rate keeps on falling, in 30 years more than 35 percent of the population will be over 65 and the welfare system that underpins the euro zone’s third-largest economy will not cope. Campaigning for mayor while pregnant, Meloni felt “if this kind of discrimination happens to someone like me, who has opportunity, and can get myself organised when I become a mother, imagine what happens to a girl on a short-term contract at a call centre”. Brothers of Italy, which polls at around 5 percent, is the junior partner in the centre-right coalition with Berlusconi’s Forza Italia (Go Italy!) and the far-right Northern League. Meloni’s personal popularity dwarfs her party‘s, with an approval rating of over 20 percent putting her roughly in line with her coalition allies in some surveys. A combative public speaker, Meloni’s rapid-fire speeches attacking immigration and globalisation are delivered in deep tones easily traceable to the working-class Rome neighbourhood where she was born and raised. She speaks proudly of her history in Italian right-wing politics, emphasising she was born decades after the end of the country’s wartime dictatorship. She says Italians must take precedence over immigrants for access to social services, like the free nursery care she proposes to help boost births, which declined by 100,000 between 2008 and 2016. Leader of the far-right Brothers of Italy party, Giorgia Meloni poses during a political rally in Rome, Italy January 23, 2018. REUTERS/Remo Casilli Meloni’s policies are similar to those of League leader Matteo Salvini, but while the League’s power base is in the industrial north, Brothers of Italy is stronger in the centre and under-developed south - where it is proposing a dedicated investment plan with tax breaks for companies. She and Salvini opposed legislation on gay civil unions and citizenship for children of immigrants, and they often attack the European Union. Their nationalist messages have worried financial markets and Brussels, and Berlusconi is responding by casting himself as a moderate who can keep his rambunctious allies in check. He has promised to keep Italy in the euro, to which both Salvini and Meloni are hostile, and to keep Italy’s budget deficit inside EU-imposed limits. But disagreements among the partners are frequent on these and other issues. Meloni called the euro “a currency that could collapse”, meaning Italy needs a “plan B”, but should not exit unilaterally. Leader of the far-right Brothers of Italy party, Giorgia Meloni arrives in her car to attend a political rally in Rome, Italy January 23, 2018. REUTERS/Remo Casilli “PATRIOTS” If the centre-right wins power, whichever party gets most votes will pick the premier, meaning Meloni is unlikely to be Italy’s first female prime minister, but she expects her group to win more than 50 seats, up from its current tally of 12. As well as the parenting plan, which includes monthly bonuses for parents of children under six, Brothers of Italy wants Muslim religious services to be conducted in Italian not Arabic, and to limit the number of foreign pupils in schoolrooms. Born more than 30 years after the end of the Second World War, Meloni brushes off links with Italy’s Fascist dictatorship, saying this is “waved like a scarecrow” by her opponents. At least two European embassies in Rome would not welcome meetings with Meloni because of her party’s extremist tendencies, officials said, requesting anonymity because of the sensitivity of the issue so close to the election. Meloni said she spoke to diplomats from “all Italy’s principal allies”, and had met ambassadors from the United States, Russia and Israel. She says the centre-left government copied her proposals with its plan to stop mass migration across the Mediterranean by supporting the Libyan coast guard. “They said we were xenophobes because we asked to strike a deal with the Libyan governments and called for a naval blockade on the Libyan coast to stop the boats, then when the interior minister said it, he was treated like a genius.” She admits the centre-right allies argue, describing their relationship as “up and down”, but she says they have a responsibility to bury their differences. “We are the only ones able to give Italy a government of patriots, that looks after the interests of Italians.” Additional reporting by Crispian Balmer; editing by Giles Elgood

https://in.reuters.com/article/italy-election-meloni/interview-leading-lady-of-italys-right-campaigns-for-a-baby-boom-idINKBN1FK24I

Wabash National Corporation Announces Fourth Quarter and Full Year 2017 Results

Fourth quarter and full-year GAAP earnings of $0.80 and $1.78 per diluted share Fourth quarter and full-year non-GAAP adjusted earnings of $0.36 and $1.38 per diluted share Strong Quote: and order activity increases backlog to near record level of $1.2 billion Company updates 2018 shipment guidance to 56,000 to 60,000 trailers and full-year earnings per diluted share guidance of $1.86 to $2.02 LAFAYETTE, Ind., Jan. 30, 2018 (GLOBE NEWSWIRE) -- Wabash National Corporation (NYSE:WNC), a diversified industrial manufacturer and a leading producer of semi-trailers, truck bodies and liquid transportation systems, today reported results for the fourth quarter and full-year periods ending December 31, 2017. Net income for the fourth quarter 2017 was $49.4 million, or $0.80 per diluted share, compared to the fourth quarter 2016 net income of $23.0 million, or $0.36 per diluted share. Fourth quarter 2017 non-GAAP adjusted earnings was $22.3 million, or $0.36 per diluted share, a $2.0 million decrease as compared to the prior year period. Non-GAAP adjusted earnings for the fourth quarter 2017 exclude the one-time tax benefit associated with both the adjustment of the Company’s net deferred income tax liability totaling $19.7 million as a result of the Tax Cuts and Jobs Act of 2017 and the reversal of reserves for uncertain tax positions of $12.6 million. In addition, the fourth quarter 2017 adjusted earnings excludes non-recurring expenses totaling $6.6 million primarily related to acquisition and integration expenses associated with the Company’s acquisition of Supreme Industries, Inc. (“Supreme”) in September 2017 and charges incurred related to the closing of former branch locations. Net sales for the fourth quarter increased 18 percent to $543 million from $462 million in the prior year quarter and operating income decreased 13 percent to $35.3 million compared to operating income of $40.6 million for the fourth quarter 2016. Operating EBITDA, a non-GAAP measure that excludes the effects of certain items, for the fourth quarter 2017 was $51.1 million, a decrease of $2.5 million compared to operating EBITDA for the previous year quarter. For the twelve months ended December 31, 2017, the Company reported net income of $111.4 million, or $1.78 per diluted share, on net sales of $1.77 billion, compared to net income of $119.4 million, or $1.82 per diluted share, on net sales of $1.85 billion for the twelve months ended December 31, 2016. Full-year 2017 results included tax benefits associated with both the adjustment of the Company’s net deferred income tax liability totaling $19.7 million as a result of the Tax Cuts and Jobs Act of 2017 and the reversal of reserves for uncertain tax positions of $12.6 million. Full-year results also include charges totaling $9.5 million related to acquisition and integration related costs for Supreme and early extinguishment of debt incurred with the Company’s purchase of a portion of the outstanding convertible senior notes net of gains from the transition and sale of former branch locations. Excluding the impact of these items, non-GAAP adjusted earnings for the full-year 2017 were $86.2 million, or $1.38 per diluted share. Full-year 2016 results included charges totaling $3.3 million related to early extinguishment of debt incurred with the Company’s purchase of a portion of the outstanding convertible senior notes and the impairment of intangible assets in connection with the Company’s segment realignment. Excluding the impact of these items, non-GAAP adjusted earnings for the full-year 2016 were $121.5 million, or $1.85 per diluted share. For the full-year 2017, the Company achieved operating EBITDA of $189.0 million, or 10.7 percent of net sales, as compared to $253.0 million, or 13.7 percent of net sales, for the previous year. The following is a summary of select operating and financial results for the past five quarters: Three Months Ended (Dollars in thousands, except per share amounts) December 31, March 31, June 30, September 30, December 31, 2016 2017 2017 2017 2017 Net Sales $ 462,057 $ 362,716 $ 435,903 $ 425,098 $ 543,444 Gross Profit Margin 15.5 % 16.4 % 15.5 % 14.3 % 13.4 % Income from Operations $ 40,621 $ 30,264 $ 38,668 $ 26,591 $ 35,293 Income from Operations Margin 8.8 % 8.3 % 8.9 % 6.3 % 6.5 % Net Income $ 23,000 $ 20,173 $ 22,945 $ 18,947 $ 49,356 Diluted EPS $ 0.36 $ 0.32 $ 0.36 $ 0.30 $ 0.80 Non-GAAP Measures (1) : Operating EBITDA $ 53,606 $ 41,930 $ 49,450 $ 46,561 $ 51,062 Operating EBITDA Margin 11.6 % 11.6 % 11.3 % 11.0 % 9.4 % Adjusted Earnings $ 24,213 $ 19,517 $ 23,189 $ 21,214 $ 22,250 Adjusted Diluted EPS $ 0.38 $ 0.31 $ 0.37 $ 0.34 $ 0.36 Notes: See “Non-GAAP Measures” below for explanation of the non-GAAP results included above. The following is a summary of select operating and financial results for each of the last five years ending December 31, 2017: Twelve Months Ended (Dollars in thousands, except per share amounts) December 31, December 31, December 31, December 31, December 31, 2013 2014 2015 2016 2017 Net Sales $ 1,635,686 $ 1,863,315 $ 2,027,489 $ 1,845,444 $ 1,767,161 Gross Profit Margin 13.2 % 12.5 % 15.0 % 17.6 % 14.8 % Income from Operations $ 103,191 $ 122,386 $ 180,369 $ 202,532 $ 130,816 Income from Operations Margin 6.3 % 6.6 % 8.9 % 11.0 % 7.4 % Net Income $ 46,529 $ 60,930 $ 104,289 $ 119,433 $ 111,422 Diluted EPS $ 0.67 $ 0.85 $ 1.50 $ 1.82 $ 1.78 Non-GAAP Measures (2) : Operating EBITDA $ 149,890 $ 169,048 $ 229,464 $ 253,002 $ 189,004 Operating EBITDA Margin 9.2 % 9.1 % 11.3 % 13.7 % 10.7 % Adjusted Earnings $ 48,190 $ 62,992 $ 103,392 $ 121,538 $ 86,166 Adjusted Diluted EPS $ 0.70 $ 0.89 $ 1.49 $ 1.85 $ 1.38 Notes: See “Non-GAAP Measures” below for explanation of the non-GAAP results included above. Dick Giromini, chief executive officer, stated, “We are pleased overall with the Company’s 2017 performance, as we successfully established a stronger foundation for further growth and productivity for the current year and beyond. The addition of the Supreme truck body business was a key accomplishment as it not only adds immediate revenue and profit opportunity, but also provides significant diversification into a high-growth segment driven by the ever-increasing adoption of e-commerce.” Mr. Giromini continued, “Operationally, following our fifth consecutive record year of profitability in 2016, a small reset was seemingly inevitable at some point. Despite a somewhat more challenging year for parts of our core businesses, we are nonetheless proud of the team’s efforts in overcoming many of the headwinds throughout the year, leading us to the strong finish in the fourth quarter that positioned us for new levels of success in 2018. New trailer shipments of 55,050 for the year were near the top-end of our previous guidance and we begin 2018 with a historically strong backlog of orders totaling $1.2 billion, an increase of 64 percent compared to the previous quarter.” 2018 Outlook Mr. Giromini stated, “Looking at the current year, we continue to believe the demand environment for trailers overall will remain healthy as fleet age, regulatory compliance requirements such as the ELD implementation, a strong economy and customer profitability all support a continuation of an extended trailer cycle. Adding to this belief is the significant turnaround in demand for both our platform and tank trailer businesses, leading to the strongest backlog in more than two years for those businesses. Those factors combined with the addition of the Supreme truck body business, impact of the new Tax Cuts and Jobs Act of 2017, and effects of cost and productivity improvement initiatives throughout the business create a great recipe for success. In 2018 we expect to ship in the range of 56,000 to 60,000 trailer units, along with 22,000 to 24,000 truck body units, for a revenue projection of $2.05 billion to $2.15 billion. While the first quarter will be slow out of the gate due to timing of shipments, we believe that pace will accelerate beginning in the second quarter and throughout the balance of the year. Based on those, and other demand and cost assumptions, we project full-year earnings of $1.86 to $2.02 per diluted share.” Business Segment Highlights The table below is a summary of select segment operating and financial results prior to the elimination of intersegment sales for the fourth quarter and full-year periods of 2017 and 2016. As announced in the prior quarter, in the fourth quarter of 2017 the Company added a third reporting segment, Final Mile Products, which includes the results of our Supreme acquisition and the Company’s existing truck body growth and diversification initiative. A complete disclosure of the results by individual segment is included in the tables following this release. (dollars in thousands) Commercial Trailer Products Diversified Products Final Mile Products Three months ended December 31 2017 2016 2017 2016 2017 New trailers shipped 15,500 # 14,600 650 550 - Net sales $ 385,961 $ 379,343 $ 91,771 $ 85,795 $ 70,461 Gross profit $ 47,055 $ 59,171 $ 18,040 $ 13,535 $ 8,150 Gross profit margin 12.2 % 15.6 % 19.7 % 15.8 % 11.6 % Income from operations $ 40,134 $ 49,917 $ 5,532 $ 1,124 $ (2,098 ) Income from operations margin 10.4 % 13.2 % 6.0 % 1.3 % -3.0 % Twelve months ended December 31 2017 2016 2017 2016 2017 New trailers shipped 52,800 58,850 2,250 2,100 - Net sales $ 1,348,382 $ 1,506,110 $ 361,358 $ 352,404 $ 70,461 Gross profit $ 183,912 $ 253,274 $ 70,159 $ 75,630 $ 8,150 Gross profit margin 13.6 % 16.8 % 19.4 % 21.5 % 11.6 % Income from operations $ 151,999 $ 212,351 $ 20,376 $ 24,595 $ (2,098 ) Income from operations margin 11.3 % 14.1 % 5.6 % 7.0 % -3.0 % Commercial Trailer Products’ net sales for the fourth quarter were $386 million, an increase of $7 million, or 2 percent, as compared to the prior year. Gross profit margin for the fourth quarter decreased 340 basis points as compared to the prior year period primarily due to increases in commodity costs and continued labor constraints resulting in higher overtime requirements to meet current demand. Operating income decreased $9.8 million, or 20 percent, from the fourth quarter last year to $40.1 million, or 10.4 percent of net sales. Diversified Products’ net sales for the fourth quarter increased $6 million, or 7 percent, due primarily to the increased demand for liquid tank trailers and process systems products as compared to the previous year period. Gross profit and profit margins as compared to the prior year period increased $4.5 million and 390 basis points, respectively, primarily due to increased demand levels and the execution of cost management initiatives. Operating income for the fourth quarter 2017 was $5.5 million, or 6.0 percent of net sales, an increase of $4.4 million compared to the prior year. Final Mile Products’ net sales for the fourth quarter totaled $70 million. Gross profit and gross profit margin for the fourth quarter were $8.1 million and 11.6 percent, respectively. Excluding non-recurring acquisition and integration related costs, gross profit and operating margins for the fourth quarter were 17.6 percent and 3.9 percent, respectively. Truck body demand continues to be strong as backlog increased 33 percent compared to the prior year. Non-GAAP Measures In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), the financial information included in this release contains non-GAAP financial measures, including operating EBITDA, operating EBITDA margin, adjusted earnings and adjusted earnings per diluted share. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures and results calculated in accordance with GAAP, including net income, and reconciliations to GAAP financial statements should be carefully evaluated. Operating EBITDA is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation, charges incurred in connection with the acquisition and integration of Supreme, impairment of goodwill and other intangible assets, and other non-operating income and expense. Management believes providing operating EBITDA is useful for investors to understand the Company’s performance and results of operations period to period with the exclusion of the items identified above. Management believes the presentation of operating EBITDA, when combined with the GAAP presentations of operating income and net income, is beneficial to an investor’s understanding of the Company’s operating performance. A reconciliation of operating EBITDA to net income is included in the tables following this release. Adjusted earnings and adjusted earnings per diluted share for the three- and twelve-month periods ending December 31, 2017 and 2016 reflect adjustments for charges incurred in connection with acquisition and integration of Supreme, the losses attributable to the Company’s extinguishment of debt, impairment of goodwill and other intangible assets, executive severance costs, income or losses recognized on sale of former branch locations as well as tax benefits associated with the adjustment of the Company’s net deferred income tax liability as a result of the Tax Cuts and Jobs Act of 2017 and reversal of reserves for uncertain tax positions. Management believes providing adjusted measures and excluding certain items facilitates comparisons to the Company’s prior year periods and, when combined with the GAAP presentation of net income and diluted net income per share, is beneficial to an investor’s understanding of the Company’s performance. A reconciliation of adjusted earnings and adjusted earnings per diluted share to net income and net income per diluted share is included in the tables following this release. Fourth Quarter and Full-Year 2017 Conference Call Wabash National will conduct a conference call to review and discuss its fourth quarter and full-year results on January 31, 2018 at 10:00 a.m. EST. Access to the live webcast will be available on the Company’s website at www.wabashnational.com . For those unable to participate in the live webcast, the call will be archived at www.wabashnational.com within three hours of the conclusion of the live call and will remain available through April 25, 2018. Meeting access also will be available via conference call at 800-708-4540, participant code 46320733. About Wabash National Corporation Headquartered in Lafayette, Indiana, Wabash National Corporation (NYSE:WNC) is a diversified industrial manufacturer and a leading producer of semi-trailers, truck bodies and liquid transportation systems. Established in 1985, the Company manufactures a diverse range of products including: dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment. Its innovative products are sold under the following brand names: Wabash National ® , Beall ® , Benson ® , Brenner ® Tank, Bulk Tank International, DuraPlate ® , Extract Technology ® , Garsite, Progress Tank, Supreme ® , Transcraft ® , Walker Engineered Products, and Walker Transport. Learn more at www.wabashnational.com . Safe Harbor Statement This press release contains certain as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are . These include, among other things, all statements regarding the Company’s outlook for trailer and truck body shipments, backlog, expectations regarding demand levels for trailers, truck bodies, non-trailer equipment and our other diversified product offerings, pricing, profitability and earnings, cash flow and liquidity, opportunity to capture higher margin sales, new product innovations, our growth and diversification strategies and our expectations with regards to capital allocation. These and the Company’s other are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the . Without limitation, these risks and uncertainties include the successful integration of Supreme into the Company’s business, adverse reactions to the transaction by customers, suppliers or strategic partners, uncertain economic conditions including the possibility that customer demand may not meet our expectations, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials, risks in implementing and sustaining improvements in the Company’s manufacturing operations and cost containment, dependence on industry trends and timing and costs of indebtedness. Readers should review and consider the various disclosures made by the Company in this press release and in the Company’s reports to its stockholders and periodic reports on Forms 10-K and 10-Q. WABASH NATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2017 2016 2017 2016 Net sales $ 543,444 $ 462,057 $ 1,767,161 $ 1,845,444 Cost of sales 470,568 390,572 1,506,286 1,519,910 Gross profit 72,876 71,485 260,875 325,534 General and administrative expenses 24,314 19,036 77,825 74,129 Selling expenses 8,020 6,849 25,588 27,270 Amortization of intangibles 4,348 4,979 17,041 19,940 Acquisition Expenses 901 - 9,605 - Impairment of goodwill - - - 1,663 Income from operations 35,293 40,621 130,816 202,532 Other income (expense): Interest expense (7,335 ) (3,725 ) (16,400 ) (15,663 ) Other, net 194 (1,679 ) 8,122 (1,452 ) Income before income taxes 28,152 35,217 122,538 185,417 Income tax (benefit) expense (21,204 ) 12,217 11,116 65,984 Net income $ 49,356 $ 23,000 $ 111,422 $ 119,433 Dividends declared per share $ 0.075 $ 0.060 $ 0.255 $ 0.060 Basic net income per share $ 0.84 $ 0.37 $ 1.88 $ 1.87 Diluted net income per share $ 0.80 $ 0.36 $ 1.78 $ 1.82 Comprehensive income Net income $ 49,356 $ 23,000 $ 111,422 $ 119,433 Foreign currency translation adjustment (342 ) (403 ) 487 (1,347 ) Net comprehensive income $ 49,014 $ 22,597 $ 111,909 $ 118,086 Basic net income per share: Net income applicable to common stockholders $ 49,356 $ 23,000 $ 111,422 $ 119,433 Weighted average common shares outstanding 58,416 61,469 59,358 63,729 Basic net income per share $ 0.84 $ 0.37 $ 1.88 $ 1.87 Diluted net income per share: Net income applicable to common stockholders $ 49,356 $ 23,000 $ 111,422 $ 119,433 Weighted average common shares outstanding 58,416 61,469 59,358 63,729 Dilutive shares from assumed conversion of convertible senior notes 1,672 945 1,726 794 Dilutive stock options and restricted stock 1,479 1,287 1,514 1,239 Diluted weighted average common shares outstanding 61,567 63,701 62,598 65,762 Diluted net income per share $ 0.80 $ 0.36 $ 1.78 $ 1.82 WABASH NATIONAL CORPORATION SEGMENTS AND RELATED INFORMATION (Dollars in thousands) (Unaudited) Commercial Diversified Final Mile Corporate and Three Months Ended December 31, Trailer Products Products Products Eliminations Consolidated 2017 New trailers shipped 15,500 650 - - 16,150 Used trailers shipped 550 50 - - 600 New Trailers $ 367,526 $ 40,895 $ - $ - $ 408,421 Used Trailers $ 5,352 $ 821 $ - $ - 6,173 Components, parts and service $ 9,908 $ 23,931 $ 1,877 $ (4,749 ) 30,967 Equipment and other $ 3,175 $ 26,124 $ 68,584 $ - 97,883 Total net external sales $ 385,961 $ 91,771 $ 70,461 $ (4,749 ) $ 543,444 Gross profit $ 47,055 $ 18,040 $ 8,150 $ (369 ) $ 72,876 Income (Loss) from operations $ 40,134 $ 5,532 $ (2,098 ) $ (8,275 ) $ 35,293 2016 New trailers shipped 14,600 550 - - 15,150 Used trailers shipped 150 - - - 150 New Trailers $ 359,767 $ 33,353 $ - $ - $ 393,120 Used Trailers 1,796 562 - - 2,358 Components, parts and service 13,082 22,867 - (3,055 ) 32,894 Equipment and other 4,698 29,013 - (26 ) 33,685 Total net external sales $ 379,343 $ 85,795 $ - $ (3,081 ) $ 462,057 Gross profit $ 59,171 $ 13,535 $ - $ (1,221 ) $ 71,485 Income (Loss) from operations $ 49,917 $ 1,124 $ - $ (10,420 ) $ 40,621 Twelve Months Ended December 31, 2017 New trailers shipped 52,800 2,250 - - 55,050 Used trailers shipped 1,050 100 - - 1,150 New Trailers $ 1,273,584 $ 140,105 $ - $ - $ 1,413,689 Used Trailers $ 10,720 $ 3,278 $ - $ - 13,998 Components, parts and service $ 48,008 $ 117,681 $ 1,877 $ (13,040 ) 154,526 Equipment and other $ 16,070 $ 100,294 $ 68,584 $ - 184,948 Total net external sales $ 1,348,382 $ 361,358 $ 70,461 $ (13,040 ) $ 1,767,161 Gross profit $ 183,912 $ 70,159 $ 8,150 $ (1,346 ) $ 260,875 Income (Loss) from operations $ 151,999 $ 20,376 $ (2,098 ) $ (39,461 ) $ 130,816 2016 New trailers shipped 58,850 2,100 - - 60,950 Used trailers shipped 950 100 - - 1,050 New Trailers $ 1,421,586 $ 129,639 $ - $ (89 ) $ 1,551,136 Used Trailers 11,998 3,176 - - 15,174 Components, parts and service 56,191 111,519 - (12,955 ) 154,755 Equipment and other 16,335 108,070 - (26 ) 124,379 Total net external sales $ 1,506,110 $ 352,404 $ - $ (13,070 ) $ 1,845,444 Gross profit $ 253,274 $ 75,630 $ - $ (3,370 ) $ 325,534 Income (Loss) from operations $ 212,351 $ 24,595 $ - $ (34,414 ) $ 202,532 WABASH NATIONAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) December 31, December 31, 2017 2016 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 191,521 $ 163,467 Accounts receivable 146,836 153,634 Inventories 180,735 139,953 Prepaid expenses and other 57,299 24,351 Total current assets $ 576,391 $ 481,405 Property, plant and equipment 195,363 134,138 Deferred income taxes - 20,343 Goodwill 317,464 148,367 Intangible assets 237,030 94,405 Other assets 25,265 20,075 $ 1,351,513 $ 898,733 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current portion of long-term debt $ 46,020 $ 2,468 Current portion of capital lease obligations 290 494 Accounts payable 108,448 71,338 Other accrued liabilities 128,910 92,314 Total current liabilities $ 283,668 $ 166,614 Long-term debt 504,091 233,465 Capital lease obligations 1,012 1,409 Deferred income taxes 36,955 499 Other noncurrent liabilities 19,724 24,355 Stockholders' equity 506,063 472,391 $ 1,351,513 $ 898,733 WABASH NATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in thousands) (Unaudited) Twelve Months Ended December 31, 2017 2016 Cash flows from operating activities Net income $ 111,422 $ 119,433 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 18,012 16,830 Amortization of intangibles 17,041 19,940 Net (gain) loss on the sale of property, plant and equipment (8,046 ) 101 Deferred income taxes (14,814 ) 4,044 Loss on debt extinguishment 799 1,895 Stock-based compensation 10,429 12,038 Impairment of goodwill - 1,663 Non-cash interest expense 2,258 3,475 Changes in operating assets and liabilities Accounts receivable 31,943 (809 ) Inventories (13,158 ) 24,969 Prepaid expenses and other (2,014 ) (10,147 ) Accounts payable and accrued liabilities (963 ) (13,002 ) Other, net (8,530 ) (1,680 ) Net cash provided by operating activities $ 144,379 $ 178,750 Cash flows from investing activities Capital expenditures (26,056 ) (20,342 ) Proceeds from the sale of property, plant, and equipment 10,860 19 Acquisition, net of cash acquired (323,487 ) - Other, net 6,443 3,014 Net cash used in investing activities $ (332,240 ) $ (17,309 ) Cash flows from financing activities Proceeds from exercise of stock options 5,790 4,831 Borrowings under senior notes 325,000 - Dividends paid (15,315 ) - Borrowings under revolving credit facilities 713 618 Payments under revolving credit facilities (713 ) (618 ) Principal payments under capital lease obligations (600 ) (779 ) Proceeds from issuance of term loan credit facility 377,519 - Principal payments under term loan credit facilities (386,577 ) (1,928 ) Principal payments under industrial revenue bond (583 ) (473 ) Debt issuance costs paid (6,783 ) - Stock repurchase (74,491 ) (98,922 ) Convertible senior notes repurchase (8,045 ) (79,556 ) Net cash used in financing activities $ 215,915 $ (176,827 ) Net increase in cash and cash equivalents $ 28,054 $ (15,386 ) Cash and cash equivalents at beginning of period 163,467 178,853 Cash and cash equivalents at end of period $ 191,521 $ 163,467 WABASH NATIONAL CORPORATION RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (Dollars in thousands, except per share amounts) (Unaudited) Operating EBITDA 1 : Three Months Ended December 31, Twelve Months Ended December 31, 2017 2016 2017 2016 Net income $ 49,356 $ 23,000 $ 111,422 $ 119,433 Income tax expense (21,204 ) 12,217 11,116 65,984 Interest expense 7,335 3,725 16,400 15,663 Depreciation and amortization 9,651 9,565 35,053 36,769 Stock-based compensation 2,117 3,420 10,429 12,038 Impairment of intangibles - - - 1,663 Acquisition expenses and related charges 4,002 - 12,706 - Other non-operating (income) expense (194 ) 1,679 (8,122 ) 1,452 Operating EBITDA $ 51,062 $ 53,606 $ 189,004 $ 253,002 Three Months Ended March 31, 2017 June 30, 2017 September 30, 2017 Net income $ 20,173 $ 22,945 $ 18,947 Income tax expense 8,434 13,160 10,728 Interest expense 2,990 2,888 3,187 Depreciation and amortization 8,704 8,315 8,386 Stock-based compensation 2,963 2,467 2,881 Acquisition expenses and related charges - - 8,704 Other non-operating (income) expense (1,333 ) (325 ) (6,271 ) Operating EBITDA $ 41,930 $ 49,450 $ 46,561 Adjusted Earnings 2 : Three Months Ended December 31, Twelve Months Ended December 31, 2017 2016 2017 2016 $ Per Share $ Per Share $ Per Share $ Per Share Net Income $ 49,356 $ 0.80 $ 23,000 $ 0.36 $ 111,422 $ 1.78 $ 119,433 $ 1.82 Adjustments: Facility transactions 3 274 - 450 0.01 (6,546 ) (0.10 ) (290 ) - Impairment of goodwill and other intangibles - - - - - - 1,663 0.03 Loss on debt extinguishment 32 - 1,408 0.02 800 0.01 1,895 0.03 Executive severance expense - - - - 238 - - - Acquisition expenses and related charges 6,308 0.10 - - 15,012 0.24 - - Tax effect of aforementioned items (2,381 ) (0.04 ) (645 ) (0.01 ) (3,421 ) (0.05 ) (1,163 ) (0.02 ) Tax reform and other discrete tax adjustments (31,339 ) (0.51 ) - - (31,339 ) (0.50 ) - - Adjusted earnings $ 22,250 $ 0.36 $ 24,213 $ 0.38 $ 86,166 $ 1.38 $ 121,538 $ 1.85 Weighted Average # of Diluted Shares O/S 61,567 63,701 62,598 65,762 Three Months Ended March 31, 2017 June 30, 2017 September 30, 2017 $ Per Share $ Per Share $ Per Share Net Income $ 20,173 $ 0.32 $ 22,945 $ 0.36 $ 18,947 0.30 Adjustments: Facility transactions 3 (1,665 ) (0.03 ) 18 - (5,165 ) (0.08 ) Loss on debt extinguishment 640 0.01 125 - 3 - Executive severance expense - - 238 - - Acquisition expenses and related charges - - - - 8,704 0.14 Tax effect of aforementioned items 369 0.01 (137 ) - (1,275 ) (0.02 ) Adjusted earnings $ 19,517 $ 0.31 $ 23,189 $ 0.37 $ 21,214 $ 0.34 Weighted Average # of Diluted Shares O/S 63,390 63,207 62,236 1 Operating EBITDA is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation, acquisition expenses and related charges, impairment of goodwill and other intangibles, and other non-operating income and expense. 2 Adjusted earnings and adjusted earnings per diluted share reflect adjustments for charges incurred in connection with acquistion expense and related costs, the losses attributable to the Company's extinguishment of debt, income or losses recognized on the sale and/or closure of former Company locations, one-time executive severance costs and impairment of goodwill or other intangible asset charges. 3 Facility transactions in 2016 and 2017 relate to gains and/or losses incurred for the sale or closure of the Company's retail branch locations. Media Contact: Dana Stelsel Corporate Communications Manager (765) 771-5766 dana.stelsel@wabashnational.com Investor Relations: Jeff Taylor Senior Vice President, Chief Financial Officer (765) 771-5310 jeff.taylor@wabashnational.com Source:Wabash National Corporation

http://www.cnbc.com/2018/01/30/globe-newswire-wabash-national-corporation-announces-fourth-quarter-and-full-year-2017-results.html

Niki Lauda could run out of pilots: Niki labor boss

VIENNA (Reuters) - Former motor racing champion Niki Lauda may not have enough pilots for the planned relaunch of his Niki airline in March unless he offers attractive contracts, the head of the airline’s works council said on Wednesday. Lauda, who won the bidding for the insolvent airline he founded after months of legal disputes, has said he has secured 15 aircraft to restart the carrier under the name Laudamotion by the end of March. He told staff on Wednesday that everyone would get a chance to sign a new contract with salaries broadly unchanged, but did not elaborate on the conditions, employees who joined the staff meeting in Vienna said. After months of uncertainty, many of the nearly 1,000 employees have applied to other airlines such as Austrian Air ( LHAG.DE ) and Eurowings, which began advertising for Niki staff weeks ago. “Around 90 percent of Niki’s 220 pilots are currently in an application process with other airlines,” works council chief Stefan Tankovits told journalists on the sidelines of the staff meeting. “(People) are still skeptical,” he said. Slideshow (3 Images) There are reservations about Lauda among Niki employees as previously he has not provided contracts under a collective wage agreement. Asked about the possibility there might be not enough pilots to restart operations in the Spring, Tankovits said: “This is to be feared ... that will certainly become a critical issue.” Tankovits, who is a pilot himself, said around 180 pilots were needed to operate the 15 planes. He called on Lauda to talk to staff representatives about future conditions and pay. “I think it is very important to reach consensus with the staff to convince them to stay.” Niki planes have been granted around 1,700 slots, or about 0.8 percent of available slots in Austria, for the summer season which begins late March. The airline plans to focus on tourist destinations in Turkey, Greece and Spain. Reporting by Kirsti Knolle; Editing by Mark Potter

https://www.reuters.com/article/us-niki-m-a-lauda/niki-lauda-could-run-out-of-pilots-niki-labor-boss-idUSKBN1FD202

Four sentenced to prison in fraternity hazing death

Four sentenced to prison in fraternity hazing death 6:00am GMT - 01:59 A Pennsylvania court on Monday sentenced four members of a national college fraternity to a maximum of two years in prison and banned the group from operating in the state for 10 years because of the 2013 death of a student during hazing incident. A Pennsylvania court on Monday sentenced four members of a national college fraternity to a maximum of two years in prison and banned the group from operating in the state for 10 years because of the 2013 death of a student during hazing incident. //reut.rs/2CVo4Ar

https://uk.reuters.com/video/2018/01/09/four-sentenced-to-prison-in-fraternity-h?videoId=381301264

UPDATE 1-China's banking regulator targets corporate debt, leverage

42 PM / in 15 minutes China's banking regulator targets corporate debt, leverage Reuters Staff 3 Min Read BEIJING (Reuters) - China’s banking regulator offered an ambitious report of its priorities for the current year that included lowering corporate debt, reducing shadow banking and cleaning up financial holding groups, as part of official efforts to reduce financial risk. In a statement late on Friday, the China Banking Regulatory Commission (CBRC) said that overall risk in the banking sector was under control, but the situation remained “grim and complicated”. “Regulators must keep clear heads and cannot be blindly optimistic,” it said. The statement followed the conclusion of CBRC’s national banking supervision and management meeting, which outlines the year’s key goals. Among the regulator’s top priorities is lowering corporate debt, while strictly controlling credit to highly indebted firms, it said. CBRC also elevated cleaning-up financial holding companies and disposing of high-risk institutions, a move that could pave the way for the restructuring of some high-profile companies. In an interview published last week in the official People’s Daily, CBRC’s chairman warned that “a small number of criminals” had used “complex structures, fictitious investment and circular capital flows to illegally create large financial groups.” This had become a severe obstacle to advancing financial reforms, which must be strictly dealt with according to the law, he added. The banking regulator has moved aggressively over the last year to cut the growth of shadow banking assets and the use of off-balance sheet business. Controlling financial sector risk was identified as a national priority at its Central Economic Work Conference in December. The country’s financial regulators have made clear that supervision is only set to tighten. The CBRC said other priorities for the year included curbing household leverage, and cracking down on the misappropriation of personal loans for stock market and real estate investment. The regulator will also continue to shrink interbank investment and promote the transformation of the wealth management business, it said. Reporting by Matthew Miller and Beijing Monitoring Desk; Editing by Clarence Fernandez

https://www.reuters.com/article/us-china-finance-cbrc/chinas-banking-regulator-targets-corporate-debt-leverage-idUSKBN1FF1K9

Backcourt boosts Blazers past Suns

Guards Damian Lillard and CJ McCollum combined for 58 points Tuesday night as the Portland Trail Blazers outgunned Devin Booker and the Phoenix Suns 118-111 at Moda Center in Portland, Ore. Lillard finished with 31 points on just 19 shot attempts and also dished out seven assists while McCollum contributed 27 points. The duo combined to sink 10 of 17 3-point tries as Portland finished 17 of 35 from behind the arc. Al-Farouq Aminu added 14 for the Trail Blazers, while Evan Turner scored 12 points and reserve guard Shabazz Napier hit for 11 while collecting six assists. Booker starred in defeat, gunning in a game-high 43 points on 14-of-29 shooting from the field. Booker, who made all of his 10 free throws, also chipped in six rebounds and eight assists, but it wasn’t enough for Phoenix. Troy Daniels scored 18 points off the bench for the Suns, going 6 of 11 from 3-point range. Tyler Ulis hit for 11 points and reserve Isaiah Canaan tallied 10. Phoenix led late in a high-scoring first quarter when the Portland guards went to work, switching the game’s momentum for good. Napier drilled a 3-pointer at the 1:47 mark, followed by a trey from McCollum right after a Suns turnover. Lillard finished the period with a driving layup 1.6 seconds before the horn, giving the Trail Blazers a 36-31 advantage. Lillard and McCollum were again involved in a late-quarter surge to end the first half. After a Ulis bucket pulled Phoenix within 60-51, Lillard sank three foul shots and McCollum followed with a 3-pointer to make it 66-51 at the half. Lillard’s driving layup with 2:38 left in the third quarter upped the Portland lead to 92-67, and the Blazers settled for a 92-72 margin heading to the fourth quarter. The Trail Blazers finished the night at 50.5 percent from the field while holding the Suns to 41.6 percent from the floor. Each team finished with 43 rebounds. --Field Level Media

https://www.reuters.com/article/basketball-nba-por-phx-recap/backcourt-boosts-blazers-past-suns-idUSMTZEE1HOPZ00L

Syrian army presses offensive in last rebel stronghold of Idlib

BEIRUT (Reuters) - Syria’s army and its allies pressed further into the country’s largest remaining rebel stronghold on Sunday, capturing a town and several villages as they approached a military airport, a pro-Damascus media unit and a war monitor reported. Forces loyal to Bashar al-Assad have stepped up the offensive in the southern province of Idlib in recent days, advancing toward the Abu al-Duhur airport, which rebels captured from the president’s troops in September 2015. The Syrian army and its allies “have gained control over the town of Sinjar,” 14 kms (nine miles) from Abu al-Duhur, and three villages to the west, the media unit run by Assad ally Hezbollah reported. Supported by Iran-backed militias and Russian air power, Assad’s forces have since late October taken back rebel-held territory in Idlib and the northeastern province of Hama. The Syrian Observatory for Human Rights said on Sunday the army had taken more than 95 villages in Hama and Idlib since Oct. 22, including around 60 in Idlib alone during the past 14 days. “Battles have shifted now to the northwest of Sinjar after the Syrian army and its allies have controlled the town,” the Britain-based monitor reported. The main rebel force in Idlib is Tahrir al-Sham, spearheaded by the former al-Qaeda’s affiliate in Syria previously called Nusra Front. The Syrian army lost Idlib, which borders Turkey, to insurgents when the provincial capital fell in 2015. It became the only province fully under opposition control. The largest population gathering is in Eastern Idlib, the monitor said, expressing fears from further intensive civilian displacement in the coming few days due to the ongoing fighting. Tens of thousands of rebels and civilians took refuge in Idlib after abandoning their homes in other parts of western Syria that the government and its foreign allies have retaken. The fighting and air strikes have forced more than 60,000 people to leave their homes since Nov. 1, according to the U.N. Office for the Coordination of Humanitarian Affairs (OCHA). The United Nations said the civilians newly displaced by the fighting in Idlib were in a “dire” situation. Reporting by Dahlia Nehme; editing by John Stonestreet

https://www.reuters.com/article/us-mideast-crisis-syria-idlib/syrian-army-presses-offensive-in-last-rebel-stronghold-of-idlib-idUSKBN1EW0F9

Vicki Hollub on a New Kind of Oil-and-Gas Workforce

When I got started in this business more than 35 years ago, many of the oil-and-gas exploration techniques we take for granted today were merely in their infancy, and much of what is done mechanically now was carried out by the brute force of dozens of workers in the field. Many couldn’t have imagined the technology and innovation we have at our disposal today, like sensors that track in real time how temperature and pressure affect flow rates, or artificial-intelligence software that someone sitting in a trailer safe from the elements can use to guide drill bits through slabs of rock once thought to be impenetrable....

https://www.wsj.com/articles/vicki-hollub-on-a-new-kind-of-oil-and-gas-workforce-1516200913

Progress Reports 2017 Fiscal Fourth Quarter and Year End Results

Exceeds Expectations for Revenue, Earnings Per Share, Operating Margin and Cash Flow BEDFORD, Mass.--(BUSINESS WIRE)-- Progress (NASDAQ: PRGS) today announced results for its fiscal fourth quarter and fiscal year ended November 30, 2017. Revenue was $116.1 million during the quarter compared to $117.7 million in the same quarter last year, a year-over-year decrease of 1% on an actual currency basis and 3% on a constant currency basis. On a non-GAAP basis, revenue was $116.3 million during the quarter compared to $118.0 million in the same quarter last year, a decrease of 1% on an actual currency basis and 3% on a constant currency basis. On a GAAP basis, diluted earnings per share was $0.34 compared to a diluted loss per share of $1.52 in the same quarter last year. On a non-GAAP basis, diluted earnings per share was $0.67 compared to $0.62 in the same quarter last year. Yogesh Gupta, CEO at Progress, said: “Our strong Q4 performance allowed us to achieve better-than-expected revenue, earnings per share, operating margins and cash flow for 2017. We have strengthened our core operations, and now offer the best platform for building next-generation, mission-critical, cognitive-first business applications as well. We look forward to continued momentum in 2018, as we execute on a strategic plan that will drive sustainable, long-term value for all shareholders.” Additional financial highlights included: On a GAAP basis in the fiscal fourth quarter of 2017: Revenue was $116.1 million compared to $117.7 million in the same quarter in fiscal year 2016; Income from operations was $28.8 million compared to a loss from operations of $62.4 million in the same quarter last year; Net income was $16.4 million compared to a net loss of $73.8 million in the same quarter last year; Diluted earnings per share was $0.34 compared to a diluted loss per share of $1.52 in the same quarter last year; and Cash from operations was $32.5 million compared to $33.9 million in the same quarter last year. On a non-GAAP basis in the fiscal fourth quarter of 2017: Revenue was $116.3 million compared to $118.0 million in the same quarter last year; Income from operations was $49.1 million compared to $42.6 million in the same quarter last year; Operating margin was 42% compared to 36% in the same quarter last year; Net income was $32.1 million compared to $30.5 million in the same quarter last year; Diluted earnings per share was $0.67 compared to $0.62 in the same quarter last year; and Adjusted free cash flow was $32.4 million compared to $32.4 million in the same quarter last year. Paul Jalbert, CFO, said: “We are pleased with our financial performance for Q4 and for the full year. We delivered on our commitment to operate our business efficiently, exceeding our cost-savings targets by reducing our total expenses by over $30 million. We are confident in our ability to generate continued strong operating margins and cash flows, and are well-positioned to achieve our financial goals in 2018.” Other fiscal fourth quarter and 2017 metrics and recent results included: Cash, cash equivalents and short-term investments were $183.6 million at the end of the quarter; DSO was 47 days, compared to 48 days in the fiscal third quarter of 2017 and 50 days in the fiscal fourth quarter of 2016; Pursuant to the $250 million share authorization of the Board of Directors, Progress repurchased 0.8 million shares for $30.0 million during the fiscal fourth quarter of 2017. For the full fiscal year, Progress repurchased 2.2 million shares for $73.9 million; and On January 5, 2018, our Board of Directors declared a quarterly dividend of $0.14 per share of common stock that will be paid on March 15, 2018 to shareholders of record as of the close of business on March 1, 2018. Full Year Results On a GAAP basis in the fiscal year 2017: Revenue was $397.6 million compared to $405.3 million in fiscal year 2016, a year-over-year decrease of 2% on both an actual and constant currency basis; Income from operations was $70.6 million compared to a loss from operations of $29.7 million in the prior fiscal year; Net income was $37.4 million compared to a net loss of $55.7 million in the prior fiscal year; Diluted earnings per share was $0.77 compared to a diluted loss per share of $1.13 in the prior fiscal year; and Cash from operations was $105.7 million compared to $102.8 million in the prior fiscal year. On a non-GAAP basis in the fiscal year 2017: Revenue was $398.6 million compared to $407.4 million in fiscal year 2016, a year-over-year decrease of 2% on both an actual and constant currency basis; Income from operations was $144.5 million compared to $123.1 million in the prior fiscal year; Operating margin was 36% compared to 30% in the prior fiscal year; Net income was $92.5 million compared to $82.3 million in the prior fiscal year; Diluted earnings per share was $1.91 compared to $1.65 in the prior fiscal year; and Adjusted free cash flow was $121.5 million compared to $100.6 million in the prior fiscal year. 2018 Business Outlook Progress provides the following guidance for the fiscal year ending November 30, 2018 and the first fiscal quarter ending February 28, 2018: (In millions, except percentages and per share amounts) FY 2018 GAAP FY 2018 Non-GAAP Q1 2018 GAAP Q1 2018 Non-GAAP Revenue $398 - $404 $399 - $404 $90 - $93 $90 - $93 Diluted earnings per share $1.14 - $1.21 $2.29 - $2.35 $0.15 - $0.19 $0.46 - $0.48 Operating margin 19% - 20% 35% - 36% * * Adjusted free cash flow $115 - $121 $115 - $120 * * Effective tax rate 26% 22% * * *We do not provide guidance for this financial measure. Progress' fiscal 2018 financial guidance is based on current exchange rates. The positive currency translation impact on Progress' fiscal year 2018 business outlook compared to 2017 exchange rates is approximately $4.0 million on GAAP and non-GAAP revenue. The currency translation impact on the fiscal 2018 GAAP and non-GAAP diluted earnings per share guidance is approximately $0.01. The positive currency translation impact on Progress' fiscal Q1 2018 business outlook compared to 2017 exchange rates is approximately $2.0 million on GAAP and non-GAAP revenue. The currency translation impact on Progress' fiscal Q1 2018 GAAP and non-GAAP diluted earnings per share guidance is approximately $0.01. To the extent that there are further changes in exchange rates versus the current environment, this may have an additional impact on Progress' business outlook. Conference Call The Progress quarterly investor conference call to review its fiscal fourth quarter of 2017 will be broadcast live at 5:00 p.m. ET on Wednesday, January 10, 2018 and can be accessed on the investor relations section of the company’s website, located at www.progress.com . Additionally, you can listen to the call by telephone by dialing 1-800-967-7134, pass code 7064924. The conference call will include comments followed by questions and answers. An archived version of the conference call and supporting materials will be available on the Progress website within the investor relations section after the live conference call. Non-GAAP Financial Information Progress provides non-GAAP supplemental information to its financial results. We use this non-GA

http://www.cnbc.com/2018/01/10/business-wire-progress-reports-2017-fiscal-fourth-quarter-and-year-end-results.html

Victim testimony raises settlement pressure in U.S. Nassar suit

January 25, 2018 / 9:42 PM / Updated 2 hours ago Victim testimony raises settlement pressure in U.S. Nassar suit Tina Bellon 6 Min Read NEW YORK (Reuters) - Searing victim testimony during former American gymnastics team doctor Larry Nassar’s sentencing hearing has ratched up pressure on the sport’s U.S. governing body and Michigan State University to settle civil lawsuits by girls and women seeking to hold them responsible for his years of sexual abuse, legal experts said. The lawsuits seeking unspecified monetary damages from USA Gymnastics, which used Nassar as team doctor for years, and Michigan State, where he worked as a professor, were filed in January 2017 in federal court in Grand Rapids, Michigan, and were later consolidated into a single case. Settlement talks between the defendants and lawyers representing 140 of Nassar’s victims broke down in December, said David Mittleman, an attorney representing some of the plaintiffs. He declined to say why the talks ended but said plaintiffs’ lawyers were now preparing to go to trial. Legal experts said USA Gymnastics and Michigan State would need to consider the potential public relations disaster of aggressively challenging a group of very sympathetic plaintiffs in court. “You can win the battle, but lose the war,” said Karen Bitar, a New York lawyer who specializes in defending universities. A Michigan judge on Wednesday sentenced Nassar to 40 to 175 years in prison for sexually abusing young female athletes in his care. Nassar, 54, served as the U.S. gymnastics team physician for several Olympic Games through 2012 and worked at Michigan State since the 1990s. Many lawyers compared a potential settlement in the case with the $93 million paid by another university, Penn State, to resolve 30 rape and abuse claims brought against former assistant football coach Jerry Sandusky, who was convicted in 2012 and is serving a 30- to 60-year prison sentence. The current case involves more than four times as many claimants as the Penn State litigation, and Mittleman said more Nassar abuse victims are expected to come forward. USA Gymnastics and Michigan State did not respond to requests for comment on whether they would resume settlement talks. Both have asked the judge to dismiss the litigation, arguing, among other things, that they owed no duty of care to the victims. Nassar was sentenced followed an extraordinary week-long hearing in which 160 of his victims, most of whom were minors at the time they were abused, unflinchingly told their stories. These included star Olympic gymnasts like gold medallists Aly Raisman and Jordyn Wieber, Michigan State athletes and other girls whose parents had sought him out based on his high profile within the sport. Nassar family friend Kyle Stephens was only 6 years old when Nassar began molesting her, and she testified that the abuse ripped apart her family and may have caused her father’s suicide. “I’ve never seen anything like it,” said Eric MacLeish, a Cambridge, Massachusetts lawyer who represented hundreds of sexual abuse victims in cases against the Catholic church involving paedophile priests. ‘LIGHT YEARS AWAY’ MacLeish predicted that the public outcry stemming from the victim testimony and sentencing would drive the defendants back to the negotiating table to reach a settlement. “December seems like light years away in terms of all the outrage and publicity,” MacLeish said, referring to when the settlement talks ended. In their lawsuit, the plaintiffs claim that USA Gymnastics and Michigan State representatives were aware of Nassar’s conduct as early as 1998 but failed to take action, resulting in the sexual abuse of dozens of girls until 2016, when the university fired Nassar. The pressure on Michigan State was illustrated by the resignation of the school’s president, Lou Anna Simon, just hours after the sentencing. In motions filed this month to dismiss the lawsuits, USA Gymnastics and Michigan State argued that most of the allegations were barred by a statute of limitations requiring personal injury claims in Michigan to be brought within three years. USA Gymnastics also argued that, because Nassar was a volunteer rather than a paid employee, it is not responsible for his actions. It also said it cannot be held liable for Nassar’s victims who were not gymnasts participating in events it sanctioned. Michigan State argued that much of Nassar’s abuse fell outside the scope of his employment. The public university also argued that it is shielded by the doctrine of sovereign immunity, which limits lawsuits against government bodies. Peter Henning, a law professor at Wayne State University in Michigan, said sovereign immunity protections are substantial and could lead a judge to dismiss many of the claims against Michigan State. Statutes of limitations often are the biggest impediment to lawsuits over sexual abuse from many years ago. Bitar, the New York lawyer, said there was danger in pushing such defences. “All those legal arguments may be extraordinarily valid, but you don’t want to give the impression that you got out on a simple legal technicality,” Bitar said. Reporting by Tina Bellon; Editing by Anthony Lin and Will Dunham

https://uk.reuters.com/article/uk-gymnastics-usa-nassar-lawsuits-analys/victim-testimony-raises-settlement-pressure-in-u-s-nassar-suit-idUKKBN1FE32M

Exclusive - Trump takes hard line on immigration, rejects 'horrible' bipartisan plan

January 17, 2018 / 8:04 PM / Updated 3 minutes ago Exclusive: Trump takes hard line on immigration, rejects 'horrible' bipartisan plan Ayesha Rascoe , Roberta Rampton 4 Min Read WASHINGTON (Reuters) - President Donald Trump on Wednesday aligned himself solidly with conservative Republicans on immigration, criticizing a proposed bipartisan deal as “horrible” on U.S. border security and “very, very weak” on reforms for the legal immigration system. The Senate proposal - aimed at addressing Democrats’ demands for protections for young adults dubbed “Dreamers” brought to the United States illegally as children - fell far short of what most Republicans believe needs to happen, Trump said. “It’s the opposite of what I campaigned for,” Trump told Reuters in an interview. The plan was presented to Trump last week by Republican Senator Lindsey Graham and Democratic Senator Dick Durbin. Trump drew international condemnation after reports emerged that he had questioned the value of taking immigrants from Africa and the Caribbean nation of Haiti during a closed-door meeting with lawmakers at the White House last Thursday, referring to them as “shithole” countries. Trump has denied using that word. Trump in the interview declined to say what specific words he used. “I‘m not going to get into what I said, but I will tell you, it was a tough meeting,” Trump said. Many Democrats have said they will not vote for spending legislation to keep the federal government funded past a Friday deadline without an immigration deal, and Republicans will need at least some Democratic votes to pass the funding extension in the Senate. Trump said he thinks a deal on immigration is still possible. “Time is running out,” he said. Trump said a federal government shutdown “could happen” at the end of the week, insisting Democrats would be blamed if that occurs even though Republicans control both chambers of Congress and the White House. Trump did not rule out signing a short-term spending measure by a Friday deadline to prevent a shutdown. ‘HE MEANT WELL’ Trump in September announced he was ending the Deferred Action for Childhood Arrivals (DACA) program that protects the Dreamers, begun by his Democratic predecessor Barack Obama, effective in March. The program currently protects roughly 700,000 people, mostly Hispanic young adults, from deportation and provides them work permits. Trump has said he is open to finding a solution to help the Dreamers. But he said he became unhappy when Graham and Durbin, who had told him they had a compromise on the Dreamers issue, presented the details. Trump said he had called Republican Senators Tom Cotton and David Perdue and Republican Representative Bob Goodlatte to join him to hear the proposal at the White House, describing them as “smart guys, with more of a conservative bent, more of a bent like I have.” As Graham and Durbin began describing the deal, Trump said, it was immediately clear it would be unacceptable to most Republicans. “It’s horrible for the security of our country,” Trump said, noting there was not enough funding for a wall he has promised to build on the U.S.-Mexican border, a project opposed by Democrats. The proposal was “very, very weak” on curbing visas for extended family members of immigrants, and failed to end a diversity visa lottery program. “Lindsey - he meant well - but I said, ‘Well, how many Republicans agree with this?'” Trump said. Trump blamed Durbin for leaking the language he used in the meeting, a disclosure that prompted critics to denounce Trump as a racist, an accusation he denied. “I’ve lost all trust in Durbin,” Trump said. Trump campaigned for president in 2016 promising a hard line on immigration, including deporting all of the roughly 11 million illegal immigrants already in the country and a “total and complete shutdown” of the entry of Muslims into the United States. As president, he has signed three orders banning entry of most people from several Muslim-majority countries as well as rescinding DACA. Reporting by Ayesha Rascoe, James Oliphant, Steve Holland, Jeff Mason, Roberta Rampton; Additional reporting by Richard Cowan; Writing by Roberta Rampton; Editing by Caren Bohan and Will Dunham

https://uk.reuters.com/article/uk-usa-trump-immigration-exclusive/exclusive-trump-takes-hard-line-on-immigration-rejects-horrible-bipartisan-plan-idUKKBN1F62QM

One Horizon Group Announces Acquisition of 123Wish

LONDON, One Horizon Group, Inc. (NASDAQ:OHGI) today announced that it has entered into an Exchange Agreement to acquire a majority interest in ONCE IN A LIFETIME LLC, d/b/a 123Wish. 123Wish, available in the Apple App Store, Google Play and www.123wish.com , is a subscription-based, experience marketplace that focuses on providing users with exclusive opportunities to enjoy personalized, dream experiences with some of the world’s most renowned social media influencers including Super Influencer Jake Paul and Team 10 as well as celebrities, professional athletes, fashion designers, and artists while supporting a diverse range of charities. The influencer or celebrity for each 123Wish experience selects a philanthropic cause to benefit or is randomly matched to a non-profit organization. Once the charitable contribution goal for an experience has been met and the designated timeframe for entry has expired, 123Wish randomly selects the winner who receives exclusive access to interact with the influencer or celebrity. Yet, everyone who enters wins a specialized gift for participation, which may include limited edition merchandise, gift cards or personalized video or voice messages from experience contributors. Each 123Wish subscriber will soon have a digital wallet and will receive four digital coins each month that his or her subscription remains active, which the subscriber may contribute to charity. OHGI and 123Wish are committed to making at least $1,000,000 in digital coin value available for charitable contribution premised on the number of subscribers. Development for inclusion of the coin technology is underway and OHGI will be providing blockchain integration. In order to deliver authentic and unique lifestyle experiences, 123Wish will launch experiences with social media influencers, music artists and other celebrities that have been embraced by Generation Z. TGZ Capital, L.P., the Gen Z focused venture capital fund, owned five percent of 123Wish pre-acquisition and becomes an OHGI shareholder pursuant to this transaction. “We executed the Exchange Agreement ahead of schedule based on the commitment of everyone involved and we are grateful to have the opportunity to welcome 123Wish founders Natalia Diaz, Andrew Resnick and TGZ Capital as OHGI stakeholders,” said One Horizon Group’s Founder, President and CEO, Mark White. “Subscribers, fans and likes have become a new form of currency and advertising spend is usually driven by perceived reach rather than fixed-costs. Thus, in addition to the importance of verifiable charitable giving, we see future opportunities in the use of digital coins for media buying.” OHGI has entered into a multi-year Employment Agreement with Natalia Diaz, who will remain the President and CEO of 123Wish. Natalia Diaz is an expert in mobile, social media, gaming and web platform development and has provided services to several Fortune 500 and other innovative company clients that rely on social-media monetization. “After getting to know Mark White and the team at One Horizon Group, it quickly became clear that we are aligned philosophically,” said 123Wish Co-Founder, President and CEO, Natalia Diaz. “As part of a NASDAQ-listed technology company with access to the capital markets, we believe that we can deliver the high-value experiences desired by Gen-Zers and Millennials and move at the fast pace of the new brand landscape driven by social media influencers underpinning Web 3.0 and the proliferation of social media through a marketplace of experiences.” “After spending years developing web properties that reach tens of millions of unique visitors on a monthly basis, I realized that social media is not only an incredible platform for advertising and sales; it is the new framework for contribution,” said 123Wish Co-Founder, technology entrepreneur and real estate mogul, Andrew Resnick. “I also believe that digital coins, which allow for efficient and transparent transactions, provide the means for a generational shift in charitable giving. Given access to OHGI innovation and its commitment to development of digital coin technology that makes a social impact, I am confident that this transaction will deliver measurable value on many fronts.” “Beyond business, 123Wish enables me to fulfill my personal goal to give back and empower our youth through contribution,” added 123Wish Co-Founder, President and CEO, Natalia Diaz. “This is very important for me as I recognize the power of influencers to make a real difference and teach the next generations that by including giving in their lives, dreams do come true.” “Based on the detailed financial models we have analyzed, we remain confident that the acquisition will be accretive in 2018 and we expect 123Wish will generate significant revenue in 2018 commencing with the expected launch of scheduled experiences in the first and second quarters of 2018,” added One Horizon Group’s Founder, President and CEO, Mark White. “We remain focused on our commitment to deliver substantial value to OHGI shareholders.” About One Horizon Group, Inc. One Horizon Group, Inc. (NASDAQ:OHGI) is a reseller of secure messaging software for the growing gaming, security and education markets including in China and Hong Kong. For more information on the Company please visit http://www.onehorizongroup.com/investors-overview/ . Darrow Associates Contacts for OHGI Bernie Kilkelly (516) 236-7007 bkilkelly@darrowir.com Jordan Darrow (512) 551-9296 jdarrow@darrowir.com Source:One Horizon Group, Inc.

http://www.cnbc.com/2018/01/24/globe-newswire-one-horizon-group-announces-acquisition-of-123wish.html

SpaceX’s Biggest Rocket Has a New Date for First Launch | Fortune

By David Meyer 8:13 AM EST Elon Musk’s SpaceX hopes to finally test out its Falcon Heavy rocket in just over a week’s time, the entrepreneur has announced. If it does end up becoming commercially operational, Falcon Heavy will vastly increase the maximum weight that can be carried into low Earth orbit—where satellites generally go. It should be able to handle some 119,000 pounds of cargo. Falcon Heavy is also the foundation of SpaceX’s grand plans for colonizing Mars . According to Musk, Falcon Heavy’s first flight will take place on Feb. 6. Hopefully. Aiming for first flight of Falcon Heavy on Feb 6 from Apollo launchpad 39A at Cape Kennedy. Easy viewing from the public causeway. — Elon Musk (@elonmusk) January 27, 2018 The rocket’s maiden flight was first supposed to happen in 2013—then early 2016, and then a bunch more hoped-for launch dates through 2016 and 2017. The most recent disappointment came courtesy of the U.S. government’s brief shutdown earlier this month. Although SpaceX is a private endeavor, it can’t test Falcon Heavy without the U.S. Air Force’s help in keeping the public safe. That occasion was supposed to see the static test firing of the Falcon Heavy’s 27 engines. This eventually happened on 24 January, clearing the way for the full launch. Falcon Heavy hold-down firing this morning was good. Generated quite a thunderhead of steam. Launching in a week or so. pic.twitter.com/npaqatbNir — Elon Musk (@elonmusk) January 24, 2018 The launch is slated to take place from Cape Canaveral’s Launch Pad 39A, which the Apollo missions also used. If it works, it will send one of Tesla’s Roadster sportscars into an orbit around the Sun, with the aim of eventually whizzing past Mars. However, Musk has previously suggested that the whole thing might just explode along the way. Such is the way with experimentation. SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/29/spacex-tesla-falcon-heavy-elon-musk-launch-date/

GoPro shares slip again as analysts warn of market saturation

(Reuters) - Shares of GoPro Inc fell again on Tuesday after analysts warned that its products face increasing market saturation, a day after the action-camera maker said it was open to a sale but was not actively pursuing one. Shares of the company were down nearly 5 percent at $6.25 in premarket trading, but a far cry from the heavy losses suffered on Monday when it announced plans to exit the drone business, cut jobs and lower its fourth quarter revenue estimate. After that announcement, the stock crashed 33 percent to a record low of $5.04. GoPro is battling waning demand for its sports cameras and drones. “The increasing power and presence of smartphones have negatively impacted sales of GoPro’s products, with its pace of innovation unable to offset creeping market saturation,” Wedbush Securities analyst Alicia Reese wrote in a note. The global demand for GoPro’s products cannot get higher than what it already is and the San Mateo-based company should acknowledge the reality, Dougherty & Co analyst Charles Anderson said in a note. Wedbush cut the price target on the stock to $6 from $10.50 and Dougherty & Co’s Charles Anderson, who has a 4-star rating, trimmed the price target by $3 to $4. GoPro has a median price target of $8.50. “It isn’t clear that they have much of a strategy beyond selling more HERO cameras. I‘m not sure investors will warm up to the story until they demonstrate some traction with sales growth,” Wedbush Securities analyst Michael Pachter said. GoPro’s shares closed down 13 percent on Monday, paring the earlier losses after reports that it had hired J.P. Morgan to help it with a sale process. [nL4N1P33YA] Reporting by Aishwarya Venugopal and Laharee Chatterjee in Bengaluru; Editing by Bernard Orr

https://www.reuters.com/article/us-gopro-stocks/gopro-shares-slip-again-as-analysts-warn-of-market-saturation-idUSKBN1EY1GF

CANADA FX DEBT-C$ firms vs weaker greenback as oil prices rise

* Canadian dollar at C$1.2523, or 79.85 U.S. cents * Bond prices lower across the yield curve TORONTO, Jan 4 (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Thursday as the greenback fell broadly and oil prices rose, while investors awaited U.S. and Canadian jobs data on Friday. A report showing that the U.S. economy created more private-sector jobs than expected last month lent some support to the U.S. dollar . But the greenback was still lower against a basket of major currencies. The price of oil, one of Canada's major exports, rose to its highest since May 2015, supported by unrest in Iran that has fueled concerns about supply risks, cold weather in the United States which is boosting demand and OPEC-led output cuts. U.S. crude prices were up 0.28 percent at $61.80 a barrel. At 9:12 a.m. EST (1412 GMT), the Canadian dollar was trading at C$1.2523 to the greenback, or 79.85 U.S. cents, up 0.1 percent. The currency traded in a range of C$1.2513 to C$1.2555. On Wednesday, it touched its strongest in 2-1/2 months at C$1.2499. Canada's employment report for December and November trade data are due on Friday, which could help guide expectations for Bank of Canada interest rate hikes in 2018. The central bank raised its benchmark interest rate for the first time in seven years in July and then again in September, putting it at 1 percent. Money markets expect three further rate hikes this year. In domestic data, producer prices rose by 1.4 percent in November from October, on higher prices for energy and petroleum products, Statistics Canada said. Home sales in Toronto, Canada's largest city, fell 18.3 percent in 2017 from the previous year's record as provincial government measures to cool the housing market weighed on demand. Canadian auto sales fell for a second straight month in December, but yearly sales rose by 4.6 percent. Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year fell 2.5 Canadian cents to yield 1.697 percent and the 10-year declined 15 Canadian cents to yield 2.07 percent. On Tuesday, the 10-year yield touched its highest level in more than two months at 2.093 percent. (Reporting by Fergal Smith; Editing by Meredith Mazzilli)

https://www.cnbc.com/2018/01/04/reuters-america-canada-fx-debt-c-firms-vs-weaker-greenback-as-oil-prices-rise.html

J&L Marketing Announces New Vice President of Sales

LOUISVILLE, Ky.--(BUSINESS WIRE)-- J&L Marketing announced today that Kirk Cave has been named the new Vice President of Sales. Kirk Cave has over twenty years of experience in the automotive industry, and has most recently held the role of Vice President of Sales at Dealer Product Services. “Very excited to join an organization that understands and has repeatedly demonstrated what it means to grow the dealer’s revenue, increase owner retention and enhance the customer experience through multi-communication channels,” Cave said. “Kirk is a magnetic guy,” said Scott Joseph, CEO & Founder of J&L Marketing. “He’s a guy that has meaningful partnerships throughout the automotive industry, and he’s thrived at every company that he’s been at.” For more information about the changes in leadership at J&L Marketing, contact Jamil Zabaneh at Zabaneh@jandlmarketing.com or 800.651.5508. J&L MARKETING J&L Marketing is a digital and direct marketing company based in Louisville, KY. The company has specialized in increasing traffic and conversions for the automotive industry since 1991. J&L Marketing has more than 200 employees and representatives throughout the United States. More information is available at www.jandlmarketing.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180103005957/en/ J&L Marketing Jamil Zabaneh, 800-651-5508 President Zabaneh@jandlmarketing.com Source: J&L Marketing

http://www.cnbc.com/2018/01/03/business-wire-jl-marketing-announces-new-vice-president-of-sales.html

Porn star Stormy Daniels denies having an affair with Trump

Adult film star Stormy Daniels, in the midst of a publicity tour fueled by past allegations of a 2006 sexual relationship with a then-married Donald Trump , said in a statement on Tuesday the alleged affair never occurred. Keith Davidson, a lawyer for Daniels, whose real name is Stephanie Clifford, confirmed the statement was authentic but didn't offer any further details. The statement came at a curious time for Clifford, who appeared after the president's State of the Union address on ABC's "Jimmy Kimmel Live!" In recent weeks she has changed production companies, given a television interview and promoted strip club appearances with a risque play on Trump's "Make America Great Again," campaign slogan. Michael Cohen, Trump's personal lawyer, has denied there was any affair. On Kimmel's show, Clifford ducked most of his questions about the alleged affair by either remaining silent or cracking jokes. She addressed, vaguely, the legitimacy of the new statement. Kimmel began by displaying a copy and comparing her signature on it to other examples. They didn't match, he said, asking if she had signed it. "I don't know, did I?" she said. "That doesn't look like my signature, does it?" The ABC host asked if that was an admission that the statement was written and released without her approval, which drew a smile, coy look and a giggle from Clifford. The rest of the interview went on in the same vein, as Clifford skirted whether she had signed a non-disclosure agreement; if an In Touch magazine interview was accurate — "Not as it is written," she replied — and if the magazine's full transcript of her comments was accurate. When Kimmel started to read details of her alleged encounters with Trump, Clifford interrupted: "I thought this was a talk show, not a horror movie. Because this is a whole different pay scale." Clifford's allegation, first made in 2011 and then again a month before the election, went mostly unnoticed until the Wall Street Journal reported earlier this month that Cohen brokered a $130,000 payment to Clifford to keep her from publicly discussing it. A week after that report, In Touch magazine printed a 5,000-word interview it conducted with Clifford in 2011 but never published after Cohen threatened the tabloid with a lawsuit, the Associated Press has previously reported. In that interview, Clifford described a single sexual encounter with Trump in 2006 when he was recently married to his third wife, Melania, as well as a subsequent years-long relationship with the reality TV star. The magazine said it corroborated her account with friends and that she passed a lie detector test. In her statement Tuesday, Clifford said she wasn't denying the affair because she was paid "hush money," but rather "because it never happened." Neither Cohen nor Clifford have addressed whether she was paid $130,000, and if so why. A publicist didn't respond to questions about the statement Tuesday. Kimmel's show opened with him and Clifford seated in armchairs and watching Trump's State of the Union address. "Enough of this. Stormy, show me on the puppet what he did to you," Kimmel said to her, holding up a doll dressed in a shirt and briefs and with a mop of Trump-like hair. Clifford produced a blond female doll with duct tape across its mouth, and gave a small nod as she looked at the camera.

https://www.cnbc.com/2018/01/31/amid-publicity-tour-porn-star-stormy-daniels-denies-having-an-affair-with-trump.html

BRIEF-Merus And Simcere Announce Strategic Collaboration On Multiple Bispecific Antibodies

Jan 8 (Reuters) - Simcere Pharmaceutical Group ( IPO-SMPT.HK ): * MERUS AND SIMCERE ANNOUNCE STRATEGIC COLLABORATION ON MULTIPLE BISPECIFIC ANTIBODIES * MERUS - AGREED TO GRANT SIMCERE EXCLUSIVE LICENSE TO DEVELOP & COMMERCIALIZE IN CHINA 3 BISPECIFIC ANTIBODIES USING CO‘S BICLONICS TECHNOLOGY PLATFORM * MERUS NV- CO TO BE ELIGIBLE TO GET UPFRONT & MILESTONE PAYMENTS CONTINGENT UPON SIMCERE ACHIEVING CERTAIN SPECIFIED DEVELOPMENT & COMMERCIAL GOALS * MERUS NV - MERUS WILL BE ELIGIBLE TO RECEIVE TIERED ROYALTY PAYMENTS ON SALES OF ANY PRODUCTS RESULTING FROM COLLABORATION IN CHINA FROM SIMCERE * MERUS NV - SIMCERE WILL BE ELIGIBLE TO RECEIVE TIERED ROYALTY PAYMENTS ON SALES OUTSIDE OF CHINA FROM MERUS * MERUS NV - ADDITIONAL FINANCIAL DETAILS WERE NOT DISCLOSED UNDER COLLABORATION WITH SIMCERE Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-merus-and-simcere-announce-strateg/brief-merus-and-simcere-announce-strategic-collaboration-on-multiple-bispecific-antibodies-idUSFWN1P30IT

British pop musician Elton John to quit touring, Daily Mirror says

January 24, 2018 / 11:17 AM / Updated 22 minutes ago Elton John says quitting touring after one last world tour in 2018 Alicia Powell 2 Min Read NEW YORK (Reuters) - British pop musician Elton John said on Wednesday he is quitting touring after nearly 50 years, but will perform one last world tour starting in September 2018. The 70-year-old singer, one of the best-selling recording artists in the world, told a news conference in New York that his priorities have changed after becoming a parent to two children with his husband David Furnish. “I love them so much. I don’t want to miss them and I don’t want them to miss me,” he said. “I’ve had a good run.” He said the tour would last about three years and take him all around the world. Slideshow (5 Images) “It will be a wonderful way to thank people,” he said. “It’s a way of going out with a bang.” John made the announcement at an event that was promoted with the tagline “I’ve finally decided my future lies....” using the lyrics of his 1973 album and single “Goodbye Yellow Brick Road.” He denied British media reports that he was quitting touring because of ill health. John is due to perform at the Grammy Awards in New York on Sunday, and on Jan 30, musicians including Miley Cyrus, John Legend, Chris Martin and Sam Smith will pay tribute to his music and career at a previously announced special concert in New York City. Reporting by Guy Faulconbridge in London and Alicia Powell in New York. Editing by Andrew MacAskill

https://in.reuters.com/article/us-people-elton/british-pop-musician-elton-john-to-quit-touring-daily-mirror-says-idINKBN1FD1DN

Philippines to prevent sellout by third telco operator to PLDT, Globe

MANILA (Reuters) - The Philippines will prevent a third telecoms operator set to be named by March from selling out to both PLDT Inc and Globe Telecom Inc to ensure the industry will not return to duopoly, a minister said on Sunday. Presidential Communications Secretary Martin Andanar said the third operator is expected to invest 400 billion pesos to 500 billion pesos ($8 billion-$10 billion) over a five-year period in rolling out its telecom business. The third player will be asked to sign an agreement that it will not sell out to its two rivals, he said. “That is the beauty of the new agreement with the third player as there is such a clause there,” he said in a radio interview. President Rodrigo Duterte has welcomed Chinese entities to be the Philippines’ third telecoms operator, following through on a threat he made last year to PLDT and Globe to shape up or face competition, following complaints about their services and uncompetitive prices. State-run China Telecom Corp Ltd, KDDI Corp of Japan, and LG Uplus Corp of South Korea and an unidentified Taiwanese company are interested in setting up operations in the Philippines in partnership with local firms, Andanar said. LG Uplus was looking at partnering with Philippine Telegraph & Telephone Corp, he said. Last week PT&T told the stock exchange it was in talks with several companies including China Telecom and a South Korean telecom company, which it declined to identify, citing a non-disclosure agreement. “These talks include possible partnership in terms of PT&T’s technical, financial and supply requirements for example, and is not limited to a mobile operator partnership,” it said. Andanar said KDDI was also interested in bidding to become the Philippines’ third telecom operator, but the Japanese firm has denied this. “It is not true that KDDI will enter the telecommunications business in the Philippines, but since KDDI is a global company, we are exploring various possibilities of expanding our telecommunications businesses overseas,” a KDDI spokeswoman said. PLDT announced last month it will put aside a record high amount of at least $1 billion for capital expenses this year as it braces for the arrival of a third competitor. [nL4N1OK2OD] Globe’s board has approved a capital expenditure budget of $850 million for this year, saying it seeks to improve internet services in the Philippines, “with the goal of becoming an admired nation for having first world internet connectivity”. Reporting by Enrico dela Cruz; additional reporting by Karen Lema in Manila and Shida Yoshiyasu in Tokyo, editing by David Evans

https://www.reuters.com/article/us-philippines-telecoms/philippines-to-prevent-sellout-by-third-telco-operator-to-pldt-globe-idUSKBN1F30QL

Britain wants comprehensive trade deal with EU - May

BERLIN (Reuters) - Britain wants to have a comprehensive trade deal with the European Union as well as a defence pact in place once its leaves the bloc, Prime Minister Theresa May said in remarks published in a German newspaper on Saturday. May added that her government was not seeking to “cherry pick” in the negotiations and that it wanted a trade deal that goes further than that which the EU has with Norway or Canada simply because Britain is negotiating from a different position to those two countries. “It is not about cherry picking,” May told the mass-selling Bild newspaper. “We want to negotiate for a comprehensive free trade deal and security pact. We are in a different starting position than Canada or Norway.” Britain and the EU struck a divorce deal last month that paved the way for talks on future trade ties and boosted hopes of an orderly Brexit. “We are leaving the EU but not Europe,” she said. Reporting by Joseph Nasr; Editing by Hugh Lawson

https://www.reuters.com/article/uk-britain-eu-germany/britain-wants-comprehensive-trade-deal-with-eu-may-idUSKBN1F9019

As stockpiles fall, which metals are really in tight supply?

January 16, 2018 / 2:13 PM / Updated 18 minutes ago As stockpiles fall, which metals are really in tight supply? Peter Hobson 4 Min Read LONDON (Reuters) - Stocks of industrial metals in London Metal Exchange (LME) warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. Men walk past the London Metal Exchange (LME) in London, July 22, 2011. REUTERS/Paul Hackett/File Photo But rising inventories of metals at smaller rival exchanges suggest the real supply picture is more mixed. Stocks of metal in warehouses monitored by the Shanghai Futures Exchange (ShFE) more than doubled last year with aluminium stockpiles surging 649 percent to a record high of 754,133 tonnes as output in China jumped. Copper stocks in CME Group ( CME.O ) warehouses in the United States meanwhile leapt 139 percent to a record 232,777 tonnes. “The LME in theory is a barometer of supply and demand and looking at LME stocks you’d be pretty bullish on metals prices,” said Robin Bhar, head of metals research at Societe Generale. “But if you look at the global picture and include ShFE and Comex you probably want to be a bit more neutral.” Concerns over tight supplies together with a surge of speculative buying drove prices of metals including copper, aluminium and zinc up around 30 percent last year to multi-year highs. But 2017 saw real tightness of supply only for lead and zinc, said Bhar. Total lead inventories in all exchange warehouses fell 18 percent last year to 184,233 tonnes while zinc stocks plunged 57 percent to 249,605 tonnes. (Graphic for 2017 metals inventory changes, click reut.rs/2D6DzBD ) The picture of more plentiful supply is borne out in the spreads between longer and shorter dated contracts. The premium for 3-month LME zinc over the 15-month contract increased throughout 2017 and was around $120 on Monday, showing rising demand for metal in the short term. But copper, aluminium and nickel showed the opposite trend, signalling comfortable availability of near-term supply. (Graphic for 3-15 month spreads, click reut.rs/2DbzqMP ) Inventories are likely to fall further this year as healthy global economic growth drives demand for metals, said ING analyst Warren Patterson. Particularly at risk are copper and zinc, analysts said. A copper market surplus for 2018 of 48,000 tonnes forecast by BMO Capital Markets could be wiped out if wage negotiations at mines in top producers Chile and Peru lead to strikes that disrupt supplies. A deal on labour conditions at Escondida in Chile, the world’s largest copper mine, expires in June. China, the world’s largest consumer, could also suck in massive amounts of refined copper if authorities there aggressively enforce restrictions on imports of scrap. China imported 3.3 million tonnes of scrap in the first 11 months of 2017 but as of early January had issued import quotas of 140,485 tonnes, down more than 90 percent from the same time last year, according to Citi analyst Max Layton. In zinc, Chinese curbs on use of polluting induction furnaces which recycle galvanised steel scrap containing zinc caused a surge in Chinese imports that has drawn down stocks held in exchange warehouses as well as storage outside the exchange system. “Stocks are nearing critically low levels - about 2-3 weeks of consumption - as we get into the seasonally strong demand period between February and June,” said Layton. Citi forecasts a zinc market deficit of 550,000 tonnes in 2017 and 350,000 tonnes this year. It expects new supply to come to market in late 2018 and 2019. (Graphic for Chinese zinc imports vs ShFE zinc stocks, click reut.rs/2DDyHVB ) Reporting by Peter Hobson; Editing by Adrian Croft

https://uk.reuters.com/article/uk-metals-stocks/as-stockpiles-fall-which-metals-are-really-in-tight-supply-idUKKBN1F51PF

Trump the dealmaker comes up short ahead of shutdown

WASHINGTON (AP) — He wrote a book on the art of negotiation and was elected to office claiming he alone could end Washington gridlock, but President Donald Trump's latest attempt to broker a big, bipartisan deal has turned into a big mess. The failure to find consensus on immigration and spending is a blow to Trump's presidency on the one-year anniversary of his inauguration — and perhaps more painfully, a blow to his brand as a wheeler-and-dealer. The funding feud, which led to a government shutdown at midnight Friday, is the second time Trump has dived into a negotiation and come up short on a top priority. As with failed talks about overhauling the nation's health system, Trump has again slammed into the difficulties of Washington's particular mix of tricky politics and complex policy. "Negotiating in politics is a lot different than real estate," said GOP strategist Alex Conant. "In Washington, not everybody wants to make a deal. Trump's initial premise that politicians just needed to be prodded more to make a deal was always flawed. Nobody runs for Congress because they want to compromise their principles. They want to advance their agendas." Democrats' agenda in this case is, chiefly, protection for the 700,000 young immigrants who may face deportation when the Deferred Action for Childhood Arrivals program expires in March. Republicans are seeking more time to talk and a long-term funding bill that with major increases for the Pentagon. It's not been entirely clear what the president's agenda is. Over the past few weeks, he has expressed openness to extending the DACA program, but then rejected a bipartisan plan on that front. He fired off a tweet that appeared to reject the GOP plan for a short-term funding bill that would buy time for more negotiation, but the White House walked it back. He abruptly tried to cut a broad deal with Sen. Chuck Schumer, the Democratic leader and a fellow New Yorker, and then backed off. "I'm looking for something that President Trump supports," Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Wednesday, just two days away from the shutdown deadline. "And he's not yet indicated what measure he's willing to sign. As soon as we figure out what he is for, then I would be convinced that we were not just spinning our wheels going to this issue on the floor, but actually dealing with a bill that has a chance to become law and therefore solve the problem." Democrats have been less diplomatic: "Negotiating with President Trump is like negotiating with Jell-O," Schumer said Saturday, gleefully recounting what he claimed was a blow-by-blow account of Trump's failed efforts to avert a shutdown. The White House doesn't necessarily view the confusion as a problem. In his most notable work, "The Art of the Deal," Trump boasted of his fickleness as a negotiator, describing it as a strategy. "I never get too attached to one deal or one approach. For starters, I keep a lot of balls in the air, because most deals fall out, no matter how promising they seem at first." A White House official, who asked for anonymity to discuss private deliberations, said the White House prefers to keep the government open, but sees potential political upside in Democratic "overreach." Trump's team sees the shutdown as an example of the president's commitment to tough negotiation and believes Democrats will cave in, the official said in describing the strategy. It is a familiar sentiment for presidents stuck in crises with Congress. During the 2013 shutdown, President Barack Obama predicted the confrontation would "break the fever" driving Republican opposition — ultimately to no avail. Who bears the blame for the current debacle is difficult to predict. Some Republican critics of Trump said he might emerge reputation intact, should Democrats bear the brunt of the blame. "It's pretty clear Sen. Schumer wasn't going to be able to get to 'yes,'" said Mike Steel, a former aide to Republican House Speakers John Boehner and Paul Ryan. And many of Trump's core supporters aren't particularly interested in compromise. "He was elected for the 46 percent who voted for him," says William Galston, a senior fellow at the Brookings Institution who worked in the Clinton administration. "He was a mold-breaker, who wouldn't cow to conventional opinion." But Trump, himself, has suggested he should be on the hook for the impasse. In 2013, when he criticized Obama over another shutdown mess, he said: "Well, if you say who gets fired it always has to be the top. I mean, problems start from the top and they have to get solved from the top and the president's the leader. And he's got to get everybody in a room and he's got to lead." Associated Press writer Darlene Superville contributed to this report.

https://www.cnbc.com/2018/01/21/the-associated-press-trump-the-dealmaker-comes-up-short-ahead-of-shutdown.html

Poland hopes for de-escalation of tensions with EU

January 10, 2018 / 1:58 PM / Updated 25 minutes ago Poland hopes for de-escalation of tensions with EU Reuters Staff 2 Min Read WARSAW (Reuters) - Poland hopes to be able to smooth tensions with the European Union by further dialogue, newly-appointed Prime Minister Mateusz Morawiecki said on Wednesday, a day after meeting European Commission chief Jean-Claude Juncker in Brussels. “I generally believe that with added effort to explain our intentions we will be able to clarify misunderstandings,” he said. “I believe dialogue will lead to de-escalation.” But he sidestepped a question on whether Poland would be willing to offer concessions on judicial reform which lies at the heart of Warsaw’s dispute with Brussels. The ruling Law and Justice (PiS) party which follows a nationalistic agenda sees the reforms as a fundamental part of its efforts to overhaul Poland’s democratic institutions. The PiS believes they are needed because the country has lost sight of its Catholic roots and is steeped in mentality and power structures dating to the post-war communist era. Critics say that the government’s efforts to wield control over courts and public media are tilting Poland toward authoritarian rule. Morawiecki, speaking to foreign media on Wednesday, said the country wanted to play a constructive role in talks about the future of the EU. The PiS carried out a government reshuffle on Tuesday, removing some of the most criticized ministers, such as defense, health, environment, and foreign affairs from Morawiecki’s team. Some analysts say the move was aimed at improving the PiS’s image externally and internally as it faces up to the spat with the EU and looks ahead to local elections this year. Reporting by Justyna Pawlak; Writing by Marcin Goclowski; Editing by Richard Balmforth

https://www.reuters.com/article/us-eu-poland-morawiecki/poland-hopes-for-de-escalation-of-tensions-with-eu-idUSKBN1EZ1OY

Neustar Names Industry Veteran Nicolai Bezsonoff as VP and General Manager of Registry Solutions

Bezsonoff will lead all registry and domain name processes to help brands navigate the complexities of an evolving digital world STERLING, Va.--(BUSINESS WIRE)-- Neustar , Inc., a trusted, neutral provider of real-time information services, today announced Nicolai Bezsonoff will now lead the Registry Solutions business as VP and General Manager. Bezsonoff will transition from his current role of VP and GM of Security Solutions to focus on supporting the world’s largest core registry and digital naming service. Bezsonoff has an extensive background in technology and registry operations, having previously held the position of co-founder and Chief Operating Officer (COO) of the .CO domain administrator, which was acquired by Neustar in 2014 . Under his tenure .CO had incredible growth and became one of the most successful domain extensions in history, with more than 2.2 million domain names registered by people in 200 countries. He has more than 20 years of experience running businesses and consulting on functions ranging from strategy, finance, product, technology and sales. “Nicolai has shown incredible leadership and insight shaping our growing cybersecurity business to meet the needs of our customers,” said Venkat Achanta, Chief Data Officer and SVP, Internet Addressing Solutions. “Combining his expertise of the business, and knowledge from his previous role at .CO, is a natural fit to broadening our capabilities and shows our dedication to innovation and strengthening the evolution of the domain name space.” “I’m excited to continue this journey with Neustar and take on a more active role leading passionate teams dedicated to delivering digital naming services that are second to none,” added Nicolai Bezsonoff. “Working for an industry pioneer that continues to be at the forefront of the domain name industry provides an undeniable platform to raise the bar even higher on creativity, increased engagement and deeper insight for innovative brands.” About Neustar Neustar, Inc. (“Neustar”) is a leading global information services provider driving the connected world forward with trusted, holistic identity resolution. As the only company capable of understanding who is on the other end of every interaction, Neustar is trusted by the world’s great brands to grow and guard their businesses with the most complete knowledge of how to connect people, places and things. The combination of Neustar’s unique, accurate, and real-time identity system and our cloud-based workflow solutions empower our clients to make actionable, precise and valuable decisions across marketing, risk, IT/security, network & operations departments. As the sole provider of the U.S. Number Portability Administration Center (“NPAC”), Neustar also facilitates the routing of all telephone call and text messages in the U.S. More information is available at https://www.home.neustar . View source version on businesswire.com : http://www.businesswire.com/news/home/20180110005374/en/ Neustar Media Carolin Bachmann, 415-312-2100 Carolin.bachmann@home.neustar Source: Neustar, Inc.

http://www.cnbc.com/2018/01/10/business-wire-neustar-names-industry-veteran-nicolai-bezsonoff-as-vp-and-general-manager-of-registry-solutions.html

Tom Brady, Bill Belichick, Robert Kraft dysfunction

New England Patriots owner Robert Kraft, coach Bill Belichick and quarterback Tom Brady have had significant disagreements this season — behind closed doors — that have led to dysfunction and threaten to end an owner-coach-quarterback relationship that helped the franchise win five Super Bowls over the last 17 years, according to an ESPN report citing a dozen New England staffers, executives, players and other league sources . Much of the friction stemmed from Brady's trainer, body coach and business partner Alex Guerrero, who helped Brady promote a training method both in his new book, "The TB12 Method," and within the team. The TB12 Method had a controversial philosophy on injury-recovery mindset and was loaded with so many rules that one unnamed Patriots staffer said in the ESPN report it "felt like a cult." Read more from USA Today: 2018 NFL mock draft 1.0: Sam Darnold, Josh Rosen vie for No. 1 USA TODAY Sports' wild-card playoff picks Social media erupts over hip-hop skating routine Guerrero, invited on the Patriots' staff as a consultant, would blame Patriots trainers for injuries. Belichick confronted Brady in early September about pressure that players were feeling by Guerrero to train at TB12 instead of with the team. There was no resolution to the meeting, ESPN reported. Belichick, in an effort to clarify Guerrero's role, later emailed Guerrero to let him know he wasn't permitted access to the team headquarters because he wasn't an employee. Among the key disagreements among the three franchise leaders was who would be around last, as well as management of past controversies. Brady, according to the ESPN report, wanted backup QB Jimmy Garoppolo gone. The Patriots eventually dealt Garoppolo to the San Francisco 49ers. The trade left Belichick feeling "furious and demoralized," while Brady's body language showed a "liberated" resolve. That outcome, a Patriots staffer told ESPN, showed Brady "won." The story adds that in the midst of the internal dysfunction, Belichick has "become good friends" with NFL commissioner Roger Goodell, meeting with him for a long and private meeting earlier this season. Another claim: Kraft, according to the report, privately told associates that he went too far in his attacks against the NFL during the Deflategate scandal and penalty, but he was forced to support Brady "for the fans." Messages left by USA TODAY Sports to the Patriots on Friday morning were not immediately returned. The team denied dysfunction in the ESPN story and cited "several inaccuracies."

https://www.cnbc.com/2018/01/05/tom-brady-bill-belichick-robert-kraft-dysfunction.html

Microbot Medical Enters into Agreement to Acquire Novel Technology to Enhance Existing Technology Platforms and Strengthen Patent Portfolio

HINGHAM, Mass., Jan. 08, 2018 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (NASDAQ CM:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, today announced that it entered into an agreement to acquire a novel patent-protected technology from CardioSert Ltd., a privately-held medical device company based in Israel. The acquisition is expected to close within 90 days, at which time, with the addition of CadioSerts’ issued U.S. patent and three patent applications pending worldwide, Microbot would have a patent portfolio of 25 issued/allowed patents and 15 patent applications pending worldwide. “CardioSert’s technology brings novel and unique capabilities, such as steering and adjustable stiffness, to guidewires which are being used in almost every surgical space today – cardiovascular, peripheral intervention, neurosurgery and urology, just to name a few,” commented Harel Gadot, Chief Executive Officer, President and Chairman. “The integration of CardioSert’s technology with Microbot’s existing robotic capabilities is yet another milestone in achieving our vision to develop micro-robotic medical technologies, utilizing the natural and artificial lumens in the human body, such as blood vessels and shunts. This exciting transaction is also consistent with our strategy to acquire assets that expand and enhance our intellectual property portfolio, strengthen our differentiation and barriers of entry and allow us to enter adjacent medical spaces and applications. We remain focused on the flawless execution of our strategy and we will continue our innovation quest to improve patient outcomes and enhance shareholders’ value.” The CardioSert technology was originally developed to support interventional cardiologists in crossing the most complex lesions called chronic total occlusion (CTO) during percutaneous coronary intervention (PCI) procedures, but Microbot believes the technology has the potential to be used in other spaces and applications, such as peripheral intervention, neurosurgery and urology. CardioSert was part of a technological incubator supported by the Israel Innovation Authorities (formerly known as the Office of the Chief Scientist, or OCS), and its device has successfully completed pre-clinical testing. Under the terms of the transaction and following the closing, CardioSert will transfer ownership of its innovative technology (including R&D information, technical know-how and intellectual property) to the Company in exchange for 100,000 restricted shares of Microbot’s common stock, cash payments totaling $300,000 (including $50,000 paid at signing), the potential for future milestone payments based on development progress and regulatory approvals, as well as royalties from future sales related to the technology. About Microbot Medical, Inc. Microbot was founded in 2010, which commenced operations in 2011, and became a NASDAQ listed company on November 28, 2016. The Company specializes in transformational micro-robotic medical technologies leveraging the natural and artificial lumens within the human body. Microbot’s current platforms, ViRob and TipCAT, are comprised of two highly advanced micro-robotic technologies, from which the Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com . The ViRob technology is a revolutionary autonomous crawling micro-robot which can be controlled remotely or within the body. Its miniature dimensions allow it to navigate and crawl in different spaces within the human body, including blood vessels, the digestive tract and the respiratory system. Its unique structure gives it the ability to move in tight spaces and curved passages as well as the ability to remain within the human body for prolonged time. To learn more about ViRob please visit http://www.microbotmedical.com/technology/virob/ . TipCAT is a transformational self-propelled, flexible, and semi-disposable endoscope providing see & treat capabilities within tubular lumens in the human body such as the colon, blood vessels, and the urinary tract. Its locomotion mechanism is perfectly suitable to navigate and crawl through natural & artificial tubular lumens, applying the minimal necessary pressure to achieve the adequate friction required for gentle, fast, and safe advancement within the human body. To learn more about TipCAT visit http://www.microbotmedical.com/technology/tipcat/ . Safe Harbor Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute . Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be . Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, the outcome of its further evaluation of the CardioSert technology, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical disclaims any intent or obligation to update these . Investor Contacts: Analysts and Institutional Investors Michael Polyviou EVC Group mpolyviou@evcgroup.com 646-445-4800 Individual Investors Jeremy Roe Integra Consulting Group llc jeremy@integracg.net (925) 262-8305 Source: Microbot Medical

http://www.cnbc.com/2018/01/08/globe-newswire-microbot-medical-enters-into-agreement-to-acquire-novel-technology-to-enhance-existing-technology-platforms-and-strengthen.html

Department, discount stores drive retail job losses in weak jobs report

Department stores and general merchandisers led job losses in the retail industry for the month of December. The U.S. economy created 148,000 jobs in December, missing Wall Street expectations of 190,000. The retail industry suffered job losses of roughly 20,000. The downward trend in retail jobs is believed to be a result of an ongoing shift to e-commerce sales. Here are the net changes in the retail industry for the month of December, according to Bureau of Labor Statistics. On a whole, retail posted a net job loss in 2017, shedding nearly 70,000 jobs over 12 months as e-commerce giants like Amazon hurt traditional brick and mortar retailer sales. Breaking down the job losses in December, department stores and general merchandisers dragged down gains in food and beverage and electronics retailers. Department stores lost more than 8,000 jobs while others general merchandisers — which include wholesale clubs and dollar stores — shed nearly 20,000, the government said. Health and personal care stores also posted losses, down 3,900 in December. Clothing and accessories stores lost 3,800 jobs. On the flip side, food and beverage stores added 6,500 jobs and electronics and appliances retailers gained 3,800. Furniture stores and motor vehicle parts dealers also added jobs in the final month of 2017, adding 2,200 and 2,900 jobs respectively.

https://www.cnbc.com/2018/01/05/department-discount-stores-drive-retail-job-losses-in-weak-jobs-report.html

Pros call the stock market's parabolic up move this year a 'melt-up'

There is no set definition of a market "melt-up." But it's fair to say that we're in one, or close. If a melt-up is a sharp upward acceleration in stock prices from already-high levels with few pauses or pullbacks along the way and a rush of public enthusiasm, that roughly describes today's market. When some market watchers started talking about the chance of a melt-up to come a few months ago — cited in a column here back in October — some of the responses were, effectively, "Hasn't 2017 been one big melt-up?" No, the steady rally for most of last year was too well-behaved along too gentle a slope. The action since then has been more of a melt. The S&P 500 is up 7.5 percent over 18 trading sessions so far in 2018, up more than 18 percent in five months, 26 percent from a year ago, 38 percent since the November 2016 election and nearly 50 percent from two years ago. Naturally, Wall Street strategists are trying to define a melt-up using some statistical standard, because that's what they do, and because their fund manager clients keep asking, "Is this the melt-up?" Chris Verrone of Strategas Research Partners suggests the threshold for a melt-up is a six-month rally that ranks in the top 5 percent of all such periods — right now that means a 21 percent surge. Not quite yet, but if the S&P adds about 3 percent in the next three weeks, it will qualify. Jeff deGraaf at Renaissance Macro Research sets a slightly higher bar: Up 50 percent over 18 months. The market's not there yet, but another 9 percent rise by the end of April would check off that box. And Tom Lee of FundStrat says the market has already gone "parabolic" in January, accelerating to a 7 percent monthly rally pace from 2 percent per month the prior four months and 1.24-percent a month from January through August. Lee counts only six prior years when January went nearly vertical as this one has. Source: Fundstrat It probably makes sense to note that describing a market move as a melt-up is not a put-down. Some bullish investors bristle at the term, feeling that it implies something artificial or fleeting or unmoored from reality, Really, melt-up just describes the pace and persistence of a rally at a time when the price appreciation seems to be feeding on itself. Think of it as the obverse of a market meltdown: There are almost always solid underlying fundamental reasons for a nasty market decline, but when the bad news and fear become saturating and the market's scary freefall itself begets more selling, that's the meltdown, or downside overshoot phase. The thing is, meltdowns are more concentrated moments of panicky liquidation and tend not to last long; a melt-up can be a more prolonged phase of good economic news and swelling risk appetites feeding on themselves. Studies of what happens after a melt-up phase demand that investors try to achieve F. Scott Fitzgerald's definition of a first-rate intelligence: "The ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function." The first idea is that the stock market is comically, almost grotesquely extended to the upside after this near-ceaseless ascent as speculative behavior is heating up and valuation support is waning. The laws of financial physics say this can't persist for much longer. The second idea is that whenever the market has behaved like this in the past, it reflected abiding underlying strength and there was almost always substantial further upside ahead - often with tough downside shakeouts along the way though. Market stat keepers tell us the S&P 500 has almost never been as "overbought" as it is today, in terms of the angle of its climb relative to a longer-term trend. This month, the S&P 500 has been compounding at a 125-percent annualized rate. Analysts' pace of increased-earnings revisions is nearly off the charts, usually a sign that improving fundamentals are getting fully priced in. So what happens next? Ned Davis Research's crowd sentiment poll never showed more collective bullishness. The S&P is in its longest streak without a 3 percent pullback, near the longest run without even a 1 percent dip and has gone 99 days without as much as a 0.6 percent daily loss - by far a record. The careful investor who's looking at all of these superlatives and rare extremes then asks what typically happens next? And the answer comes back, "Usually more gains for a while, often with a choppier ride." This is what the melt-up chroniclers such as Lee and Verrone and all the rest repeatedly find in the historical record: Even if we've seen the peaks in market momentum, investor optimism, investor fund flows and upside earnings revisions, the indexes themselves have rarely topped for good until some time and distance afterward. Retail stock-fund inflows are near a record level and online-brokerage volumes as a percentage of total market activity has gone vertical this year. This is the "all-in, things-are-good-and everyone-knows-it" period, the makings of a bull-market "overshoot." Bespoke Investment Group suggests any slight tremor from here could feel like a scary quake: "The longer we go without experiencing any declines of significance, it's going to make the eventual decline feel exponentially worse when it finally happens. ... This means emotions will run extra high the next time a drop occurs, which could precipitate more selling than usual." All global asset markets are at some relative or absolute extreme: The dollar at multi-year lows, oil and bond yields exceeding the top of long-standing ranges, credit spreads near all-time tight levels and the valuation of stock to bond valuations at a seven-year high. Even if the melt-up carries higher and the first reversal isn't likely to be the "big one," these markets could get more interesting soon.

https://www.cnbc.com/2018/01/29/pros-call-the-stock-markets-parabolic-up-move-this-year-a-melt-up.html

Mexico's oil reform a boon for hard-hit oil service, seismic firms

HOUSTON/MEXICO CITY (Reuters) - Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of $61 billion. [Link to Graphic on offered areas: tmsnrt.rs/2DGpgnB ] International oil firms will this week bid for blocks on the Mexican side of the Gulf, which they expect to hold large reserves. The same companies have pumped billions of barrels of crude from fields in U.S. waters nearby. Mexico has done little deepwater exploration, so not much is known about the energy reserves. That has created strong demand for whatever data oil service and seismic firms can offer. Mexico has given survey companies all the information it has in an effort to build appetite for the auctions. “Because there is less information about reserves there, and more risk that there are not big reserves, companies are willing to pay for data,” said an executive from one of the registered bidders who could not be identified because he was not authorized to speak publicly. Companies including Schlumberger, France’s CGG SA, Ion Geophysical and Seitel Inc have spent $2 billion undertaking their own seismic surveys since 2015. They have also reprocessed Pemex’s old data on the region. Schlumberger said it was “fully committed” to its customers in Mexico, but declined to elaborate on its business. The other three companies did not respond to requests for comment. Among companies bidding at Wednesday’s auction are China Offshore Oil Corp, ExxonMobil and Total SA. More data sales, which are tracked by Mexico’s energy regulator, are expected for further rounds and joint ventures this year as the country puts some 66 percent of its prospective oil reserves on the block. Some energy firms only pay for detailed data packages after they win areas, two executives involved in exploration work in the Americas said. “The geological data business in Mexico has been good, not spectacular, but good,” said a source at Schlumberger on condition of anonymity. The seismic industry was hit hard by the crash in oil prices in 2014 and ensuing recession. International oil firms cut back on exploration, especially in areas considered expensive to develop such as deepwater. Even with the Mexico data sales, the sector continues to struggle. Schlumberger this month announced the closure of its marine and land seismic acquisition business, two of four units at its WesternGeco subsidiary. PUSHING PEMEX In its efforts to break Pemex’s monopoly and attract international oil firms, the Mexican government has charted a more aggressive reform than others Latin American countries. To encourage oil service and mapping firms to work quickly and extensively, the government gave them licenses for up to 12 years to sell data they collect. “On the American side (of the Gulf of Mexico), there is a tonne of information. On the Mexican side, very little. So they had to have a solution, a way to speed it up,” Marcio Felix, Brazil’s oil and gas secretary, said on Monday. The Mexican regulator, the National Hydrocarbon Commission (CNH), opened all of Pemex’s data to seismic firms, licensing them to reprocess and sell it. In countries including Brazil and Venezuela, state-run oil companies have kept most of their seismic data from rivals, giving them an advantage in areas where they are considered strong. “Pemex has had to give up a lot to make the reform work,” said Luis Vierma, exploration and production consultant and former vice-president of Venezuela’s PDVSA. The CNH has said the data, which includes information from 30,000 oil and gas wells, belongs to the country, not Pemex. For Pena Nieto’s government, the stakes are high. Energy reform was one of its top economic priorities, and the administration wants to show progress ahead of a presidential election in July. Mexico faces stiff competition from other Latin American countries keen to attract investment from energy firms. Brazil, Ecuador, Uruguay and Argentina are set to auction oil and gas blocks this year. That has Mexico determined to make the auctions successful - even if it means giving up Pemex’s secrets. “Only one player (Pemex) gains if the geological information is kept confidential,” said Horacio Cuenca, a research director at consultancy Wood Mackenzie. “The whole country will benefit from opening up the data to secure equal access and accuracy.” Additional reporting by Ana Isabel Martinez and David Alire Garcia in Mexico City and Alexandra Alper in Rio de Janeiro; Editing by Gary McWilliams, Simon Webb and Andrew Hay

https://www.reuters.com/article/us-mexico-oil-data/mexicos-oil-reform-a-boon-for-hard-hit-oil-service-seismic-firms-idUSKBN1FK27C

2U, Inc. to Announce 2017 Fourth Quarter and Full Year Financial Results on Monday, February 26, 2018

LANHAM, Md., Jan. 29, 2018 /PRNewswire/ -- 2U, Inc. (NASDAQ: TWOU) announced today that it will report its fourth quarter and full year 2017 financial results on Monday, February 26, 2018. Christopher "Chip" Paucek, chief executive officer and co-founder, and Cathy Graham, chief financial officer, will hold an audio webcast and conference call at 5 p.m. ET to discuss the results. To access the live webcast, visit investor.2u.com . To participate in the conference call by telephone in the U.S., dial 1-877-359-9508, or outside of the U.S., dial 1-224-357-2393. A recording of the webcast will be posted to 2U's Investor Relations site as soon as it is available. About 2U, Inc. (NASDAQ: TWOU) 2U partners with great colleges and universities to build what we believe is the world's best digital education. Our platform provides a comprehensive fusion of technology, services and data architecture to transform high-quality and rigorous campus-based universities into the best digital versions of themselves. 2U's No Back Row ® approach allows qualified students and working professionals around the world to experience a first-rate university education and successful outcomes. To learn more, visit 2U.com . Investor Contact : Ed Goodwin egoodwin@2U.com Media Contact : Shirley Chow schow@2U.com View original content with multimedia: http://www.prnewswire.com/news-releases/2u-inc-to-announce-2017-fourth-quarter-and-full-year-financial-results-on-monday-february-26-2018-300589664.html SOURCE 2U, Inc.

http://www.cnbc.com/2018/01/29/pr-newswire-2u-inc-to-announce-2017-fourth-quarter-and-full-year-financial-results-on-monday-february-26-2018.html

Silicon Valley smart guy bets big on bitcoin

Silicon Valley smart guy bets big on bitcoin Tuesday, January 02, 2018 - 01:13 ** OTC-traded Bitcoin Investment Trust GBTC.PK up 13.5 pct at $2387.70 after WSJ reported Peter Thiel's Founders Fund ''amassed hundreds of millions of dollars'' worth bitcoins (http://on.wsj.com/2EA1mLo)** Founders bought about $15-$20 mln worth bitcoins, now worth hundreds of millions of dollars after bitcoin's rally in the past year, according to the WSJ report, citing people familiar with the matter** Bitcoin Investment Trust allows investors to take a bet on the price of bitcoin without complication of buying and safeguarding them directly** Bitcoin rose above $15,000 to trade at $15,017.63 (Full Story)** The crypto-currency has surged more than 15 times in value over the last 12 months on the back of enthusiasm from retail investors and launch of bitcoin futures (Full Story) ** OTC-traded Bitcoin Investment Trust GBTC.PK up 13.5 pct at $2387.70 after WSJ reported Peter Thiel's Founders Fund "amassed hundreds of millions of dollars" worth bitcoins (http://on.wsj.com/2EA1mLo) ** Founders bought about $15-$20 mln worth bitcoins, now worth hundreds of millions of dollars after bitcoin's rally in the past year, according to the WSJ report, citing people familiar with the matter ** Bitcoin Investment Trust allows investors to take a bet on the price of bitcoin without complication of buying and safeguarding them directly ** Bitcoin rose above $15,000 to trade at $15,017.63 (Full Story) ** The crypto-currency has surged more than 15 times in value over the last 12 months on the back of enthusiasm from retail investors and launch of bitcoin futures (Full Story) //reut.rs/2A8enIz

https://uk.reuters.com/video/2018/01/02/silicon-valley-smart-guy-bets-big-on-bit?videoId=377828388

Cuban economy ever more opaque as data omitted from 2016 accounts

HAVANA (Reuters) - Cuba has not provided a detailed breakdown of key economic activity in its annual statistical abstract for the first time this century, leaving would-be investors more in the dark than usual about the Communist-run economy. The abstract for 2016, published online in June and July by the National Statistics Office, omitted a chapter that usually provides specifics on gross domestic product, exports and money supply as well as data on debt. Those details are sometimes provided a few months later, but last year they failed to materialize. ( bit.ly/2mESyfU ) It was not clear if the information would be released at a later date. The National Statistics Office did not respond when asked by Reuters about the omission. The government surprised most analysts in December when it announced Cuba’s economy grew 1.6 percent last year, rebounding from a recession in 2016. Moody’s and the Economist Intelligence Unit forecast continued recession for 2017, while the U.N. Economic Commission for Latin America and the Caribbean (Cepal) predicted anemic 0.5 percent growth. “The abnormal delay in the macroeconomic indicators for 2016 casts doubt on the official estimate for GDP growth in 2017,” said Carmelo Mesa-Lago, professor emeritus of economics at Pittsburgh University and author of numerous books on Cuba’s economy. “How is it possible authorities can release that estimate at the end of December and not release the entire national accounts for 2016 more than one year later?” he said. Cuba’s foreign currency earnings have fallen by billions of dollars since global prices for oil and other commodities crashed in 2014. Service income, which includes the sale of professional services to several oil producing developing countries such as Venezuela, fell by more than a billion dollars in 2016, on top of a similar reported decline in goods exports, according to Reuters estimates. The government has announced cuts in electricity and fuel consumption, slashed imports and, according to diplomats and businessmen, has fallen behind on payments to suppliers and joint venture partners. One foreign businessman in Cuba, who asked not to be named, said investors already active on the island would not be deterred by the lack of detailed information about the state of the economy in 2016 but it could make others wary of coming. “Any investor will want to have reliable data,” said Bert Hoffman, a Latin America expert at the German Institute of Global and Area Studies. “Statistical data are not a luxury but a valuable and often necessary resource, and its lack a serious drawback for development,” he said. Three Cuban economists said they suspected the government was burying bad news. “Whenever things are bad the response from the government is to hide information,” one said, requesting anonymity due to a ban on speaking to foreign journalists without government permission. “In 2016 the release of the chapter (on key economic activity in 2015) was delayed into late November, now it’s already January,” he said. Reporting by Marc Frank; Editing by Daniel Flynn and Frances Kerry

https://www.reuters.com/article/us-cuba-economy/cuban-economy-ever-more-opaque-as-data-omitted-from-2016-accounts-idUSKBN1F42HI

BUZZ-AquaBounty Tech: Touches 1-yr low after stock and warrants offering

** Biotech’s shares fall as much as 39.1 pct to touch a > 1-yr low of $2.96 in morning trading ** Stock biggest pct loser on Nasdaq ** Co prices ~4 mln shares and accompanying warrants at $3.25, a 33.13 pct discount to stock’s Thurs close ** Warrants to purchase up to 4 mln additional shares have exercise price of $3.25 and expire in 5 years ** Co expects gross proceeds of ~$12 mln; intends to use net proceeds to continue construction and renovation activities of its existing facilities in Rollo Bay and Indiana ** Co had 8.9 mln shares outstanding as of Jan. 11 - TR data ** More than 923,000 shares traded, 17x 30-day moving avg ** Up to Thursday’s close, AQB lost ~80 pct in past 12 mths (Reporting by Akankshita Mukhopadhyay in Bengaluru)

https://www.reuters.com/article/buzz-aquabounty-tech-touches-1-yr-low-af/buzz-aquabounty-tech-touches-1-yr-low-after-stock-and-warrants-offering-idUSL4N1P74HP

Managed Duration Investment Grade Municipal Fund Declares January Dividend

NEW YORK--(BUSINESS WIRE)-- Dividend Declaration The Managed Duration Investment Grade Municipal Fund (MZF) (the “Fund”) declared a dividend of $0.0450 per common share on January 2, 2018, payable on January 31, 2018, to shareholders of record at the close of business on January 16, 2018, with an ex-dividend date of January 12, 2018. Including the January dividend payment of $0.0450 per common share, the aggregate dividend payments for the last twelve months were $0.5635 per common share. The Fund is a diversified closed-end management investment company whose investment objective is to seek to provide its common shareholders with high current income exempt from regular federal income tax while seeking to protect the value of the Fund’s assets during periods of interest rate volatility. Cutwater Investor Services Corp. (doing business as Insight Investment), the Fund’s investment adviser, provides fixed income asset management to a variety of institutional clients including corporations, governmental entities, employee benefit plans, private funds and registered investment companies. This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distribution that have been declared by the Board of Trustees. A portion of the Fund's current distribution may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Fund. Any portion of the Fund’s distribution that is a return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes. Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements. An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing. View source version on businesswire.com : http://www.businesswire.com/news/home/20180102005917/en/ River Communications Danny Casarella, 914-686-5599 insight@riverinc.com Source: Managed Duration Investment Grade Municipal Fund

http://www.cnbc.com/2018/01/02/business-wire-managed-duration-investment-grade-municipal-fund-declares-january-dividend.html

German SPD leader says still 'big hurdles' to clear in coalition talks

January 11, 2018 / 8:41 AM / in 3 hours Merkel asked to show 'vision' in crunch German coalition talks Andreas Rinke 4 Min Read BERLIN (Reuters) - German Chancellor Angela Merkel said her conservatives still had high hurdles to clear in Thursday’s talks on forming a coalition with the Social Democrats (SPD), who are pressing for accelerated integration of European Union states. Acting German Chancellor Angela Merkel arrives for exploratory talks about forming a new coalition government at the SPD headquarters in Berlin, Germany, January 11, 2018. REUTERS/Hannibal Hanschke Merkel, weakened by an election setback in September, turned to the left-leaning SPD to seek a re-run of their so-called “grand coalition” after the collapse in November of talks on a three-way coalition with two smaller parties untested at national level. The chancellor, who commands wide respect abroad after more than 12 years in power, needs coalition talks to succeed to avoid further erosion of her personal authority and Germany’s international influence, not least in the EU. At the start of the final day of exploratory talks that could lead to formal negotiations, Merkel said it would be an arduous day but she recognised that Germans expected results. “Of course we also have in mind that we have to create a good policy platform for our country. So it’s going to be a tough day,” she said. The political uncertainty is at odds with Germany’s flourishing economy, whose growth hit a six-year high in 2017, helping deliver a record 38.4-billion-euro ($46.20 billion) public sector surplus. That spurred calls for Merkel, the ultimate pragmatist, to use the windfall to unveil a vision for Germany’s future. “What is your plan for Germany?” the mass-market Bild newspaper asked. “Fact is: the money is there for it,” it added, suggesting she restructure healthcare, promote public order or outline new targets for tackling climate change. German business echoed that call, with the DIHK Chambers of Industry and Commerce suggesting she use the fiscal windfall to simplify bureaucracy and others pushing for tax cuts. But SPD leader Martin Schulz, a former president of the European Parliament, is pursuing a very different vision, calling for the creation of a United States of Europe by 2025 - seen as an expensive distraction by many conservatives. Acting German Chancellor Angela Merkel arrives for exploratory talks about forming a new coalition government at the SPD headquarters in Berlin, Germany, January 11, 2018. REUTERS/Hannibal Hanschke “On the last day of exploratory talks we will make clear that above all this must be a new start for the European Union,” he told reporters. “If we join a government it will be on the condition that it makes Europe strong.” Should the parties fail to reach a deal on Thursday they could extend the talks, though President Frank-Walter Steinmeier is eager for an agreement, keenly aware that businesses want a stable coalition to end uncertainty and avoid another vote. SPD HURDLE In signs of incremental progress in the talks, negotiators agreed to reduce the use of the weed killer glyphosate, draft plans seen by Reuters showed. Social Democratic Party (SPD) leader Martin Schulz arrives for exploratory talks about forming a new coalition government at the SPD headquarters in Berlin, Germany, January 11, 2018. REUTERS/Hannibal Hanschke SPD Secretary General Lars Klingbeil told party members in a video message the party was striving for improvements in labour, health, education and family policy, and on Europe. Merkel has ruled with the SPD in a sometimes unwieldy “grand coalition” - or ‘GroKo’, the German-language acronym - in two of her three previous terms in office, including in the last parliament from 2013-2017. But both parties bled support in the Sept. 24 election, which saw the far-right Alternative for Germany (AfD) enter the Bundestag lower house of parliament for the first time. Many SPD rank-and-file fear a repeat grand coalition would further diminish the identity of the party, which suffered its worst result in September’s vote since the modern Federal Republic was founded in 1949. Kevin Kuehnert, head of the Jusos youth branch of the SPD, said he planned a ‘NoGroKo’ tour of Germany to persuade party delegates to vote against the grand coalition. Should the two biggest party groups fail to agree on moving ahead, Merkel, albeit reluctantly, could try to form a minority government or accept new elections. ($1 = 0.8311 euros) Additional reporting by Michelle Martin and Madeline Chambers; Writing by Paul Carrel and Thomas Escritt; editing by Ralph Boulton

https://in.reuters.com/article/germany-politics/german-spd-leader-says-still-big-hurdles-to-clear-in-coalition-talks-idINKBN1F00UM

Likud party calls for de-facto annexation of Israeli settlements

December 31, 2017 / 9:46 PM / Updated 9 hours ago Likud party calls for de-facto annexation of Israeli settlements Rami Amichay 3 Min Read LOD, Israel (Reuters) - Prime Minister Benjamin Netanyahu’s Likud party unanimously urged legislators in a non-binding resolution on Sunday to effectively annex Israeli settlements in the occupied West Bank, land that Palestinians want for a future state. Party supporters demonstrate during a Likud Central Committee meeting in Airport City, Israel December 31, 2017. REUTERS/Amir Cohen By enacting civilian law over settlements, the move could streamline procedures for their construction and expansion. That land is currently under military jurisdiction and Israel’s defence minister has a final say on building there. The settlers are subject to Israeli civilian law. “We will now promote the recognition of our sovereignty of the Jewish settlements in Judea and Samaria (the West Bank). ... We must begin to enact this sovereignty, we have the moral right and obligation towards our settler brothers,” Public Security Minister Gilad Erdan told a meeting of Likud’s Central Committee. Netanyahu is not bound to follow the resolution. He did not attend the meeting, which attracted several hundred delegates including ministers, legislators and party officials. The Likud Central Committee is the party’s governing body. At least two previous Likud Central Committee decisions have been ignored by party leaders: Likud party members vote during a Likud Central Committee meeting in Airport City, Israel December 31, 2017. REUTERS/Amir Cohen In 2002, it voted against the creation of a Palestinian state, but then-Prime Minister Ariel Sharon said he would act as he saw fit and Netanyahu in 2009 voiced conditional support for the establishment of a Palestinian state in a landmark speech. Political commentators said the decision might bolster right-wing support for Netanyahu, who could seek a public mandate in an early election as he awaits possible criminal indictments against him on corruption suspicions. He denies wrongdoing. Although parliamentary elections are not due until November 2019, the police investigations in two cases of alleged corruption against Netanyahu and tensions among partners in his governing coalition could hasten a poll. Most countries view settlements that Israel has built on land captured in the 1967 Middle East war as illegal. Israel disputes that and cites biblical, historical and political links to the West Bank, as well as security interests. About 400,000 settlers and 2.8 million Palestinians live in the West Bank. The Palestinians want to establish a state in the West Bank and Gaza Strip with East Jerusalem as its capital. In 1981, Israel enacted civilian law on the Golan Heights, territory captured from Syria in 1967, a de-facto annexation of the strategic plateau. The move has not won international recognition. Israeli settlements have been one of the main stumbling blocks in Israeli-Palestinian peace talks that have been frozen since 2014. Efforts by U.S. President Donald Trump’s envoys to restart them have not yet shown any progress. Trump this month recognised Jerusalem as Israel’s capital, reversing decades of U.S. policy. Writing by Ori Lewis; Editing by Peter Cooney

https://uk.reuters.com/article/uk-israel-palestinians-likud/likud-party-calls-for-de-facto-annexation-of-israeli-settlements-idUKKBN1EP0M4

Iran protests grow, death toll mounts

Iran protests grow, death toll mounts 2:52am IST - 01:44 Demonstrations continued for a fifth day, after 13 people were reported to have been killed in the worst wave of unrest since 2009 when huge crowds took to the streets to condemn the re-election of then-president Mahmoud Ahmadinejad. ▲ Hide Transcript ▶ View Transcript Demonstrations continued for a fifth day, after 13 people were reported to have been killed in the worst wave of unrest since 2009 when huge crowds took to the streets to condemn the re-election of then-president Mahmoud Ahmadinejad. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2zZpFPn

https://in.reuters.com/video/2018/01/01/iran-protests-grow-death-toll-mounts?videoId=377644731

Israel's Spacecom expands deal for satellite service to Nepal

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

https://www.reuters.com/article/us-space-com-nepal-contract/israels-spacecom-expands-deal-for-satellite-service-to-nepal-idUSKBN1ER0ZK

We feel like we are sinking, says Real's Marcelo

January 8, 2018 / 1:39 AM / Updated 2 hours ago We feel like we are sinking, says Real's Marcelo Reuters Staff 3 Min Read VIGO (Reuters) - Real Madrid players feel like their La Liga title hopes are “sinking” into a black hole after they let a 2-1 lead against Celta Vigo slip through their fingers in the final eight minutes, leaving them 16 points adrift of leaders Barcelona. Soccer Football - La Liga Santander - Real Madrid vs FC Barcelona - Santiago Bernabeu, Madrid, Spain - December 23, 2017 Real Madrid’s Marcelo warms up before the match REUTERS/Stringer Real were leading with eight minutes to go against Celta after Gareth Bale’s quick-fire double had overturned Daniel Wass’s opening strike. But Maxi Gomez’s headed goal in the 82nd minute ensured the match finished in a 2-2 draw and piled more pain on Zinedine Zidane’s side, who had lost 3-0 to arch rivals and runaway leaders Barca in their last Liga outing. “It is how it looks from the outside - we are sad, angry and we feel like we are sinking,” Brazilian defender Marcelo told reporters. “It is one of the worst situations I’ve experienced here,” added the 29-year-old who has been with the club for over a decade. “We’ll try to work hard and fight so we can win our next game but we don’t like this situation at all, it’s difficult because the more games you draw or lose the more pressure you are under.” The last time Real were 16 points behind the Liga leaders was during Jose Mourinho’s tension-filled final campaign in 2012-13, when they finished 15 points adrift of Barca. “There’s nothing else we can do other than keep our heads up and fight and do our best to start winning again,” added Marcelo, who has won four La Liga and three Champions League titles since joining Real in 2007. “We can’t do anything more, we’re trying to play good football, to move the ball around and score goals but it’s not coming off.” Real coach Zidane usually leaps to the defence of his players after negative results but he was not in a forgiving mood on Sunday. “The main thing we lacked today was we didn’t play the second half,” said the Frenchman, who last season guided Real to their first Liga and European Cup double since 1958. “We played very well in the first 45 minutes but not in the second half and a game lasts 90 minutes.” Zidane also refused to comment on whether or not his side were out of the title race. “We’re not going to talk about the league every weekend. If we keep losing points we’re not going to get there. We have to focus on each game now and try to win them,” he said. Reporting by Richard Martin, editing by Pritha Sarkar

https://uk.reuters.com/article/uk-soccer-spain-mad-marcelo/we-feel-like-we-are-sinking-says-reals-marcelo-idUKKBN1EX02A

TCW harassment case could hit all of Wall Street—Commentary

Updated 43 Mins Ago CNBC.com Predictably, the #MeToo wave is slowly creeping back up on the shores of Wall Street. It started to gain more attention last month with Morgan Stanley's decision to fire former Congressman Harold Ford. But it took a new and potentially explosive turn this week. A lawsuit filed by a fund manager at the TCW Group claims that she was not only sexually harassed, but her alleged harasser retaliated by withholding marketing and financial support for her fund. That's what could make this case a very expensive game changer for all of Wall Street, not just one firm or one victim. Adriel Reboh | Patrick McMullan | Getty Images Sara Tirschwell in a 2007 file photo. First, let's look at this specific case. Sara Tirschwell says TCW managing director Jess Ravich successfully coerced her into sex by threatening to withhold company resources from a fund she managed. Then when she ended the affair, Tirschwell says Ravich followed through on the threat to cut those resources. She was eventually fired from TCW last month. Tirschwell is suing the Los Angeles-based TCW for $30 million, but if her allegations of retaliation against her fund are true, the financial ramifications could be dire. A spokesman at TCW says Tirschwell was fired because of "repeated violations of company policy." But at least on paper, she seems like a formidable plaintiff as Tirschwell was named one of the 50 leading women in her industry by Hedge Fund Journal last year. "Sexual harassment lawsuits may soon come from many more sources than just the alleged victims themselves. For Wall Street firms that have thousands of clients with the means to file those lawsuits, the dam could break any time." Attorney and managing partner at The Colchester Group Jim Nuzzo says this case is an example of the "shifting ground" in sexual harassment lawsuits across the country. Nuzzo explains that the details of Tirschwell's personal interactions with Ravich are nothing new, but Ravich's use of investor funds means the "chances that multiple plaintiffs will join in this and other possible lawsuits against TCW are quite high." Think about that for a moment. Tirschwell's case could successfully prove that Ravich and/or others at TCW misused their investors' money in the act of sexual harassment. It's not a stretch to argue that any use of investment firm assets by an alleged sexual harasser could then be used as grounds for shareholder lawsuits. Maybe those assets could even include a company paid-for car used to visit a victim's home, or a company-provided phone used to illicitly call or text a harassment victim. The point is that sexual harassment lawsuits may soon come from many more sources than just the alleged victims themselves. For Wall Street firms that have thousands of clients with the means to file those lawsuits, the dam could break any time. Wall Street has dealt with harassment and sexual misconduct waves in the past. Even some of the most astute Wall Street critics say the result is the very overt culture of harassment and blatantly hostile working environments for women are a thing of the past. Chelsea Guglielmino | FilmMagic | Getty Images Take Back The Workplace March And #MeToo Survivors March & Rally on November 12, 2017 in Hollywood, California. But that progress came before this current #MeToo wave. It came before shareholders flexed their legal muscles in this new environment with the $90 million settlement with 21 st Century Fox late last year. It came before allegations of "decades-long" sexual harassment against Steve Wynn surfaced Friday and sent Wynn shares reeling. Now, Wall Street could be dealing with investors who never even visited a trading desk demanding some kind of financial payment connected to an inner-office sex scandal. The Tirschwell case may take years to run its course. Many of the biggest harassment lawsuits against Wall Street firms drag on forever . But if her case encourages more women and their firms' investors to step forward, Wall Street isn't just standing on shifting ground, it's atop an earthquake. Commentary by Jake Novak, CNBC.com senior columnist. Follow him on Twitter @jakejakeny . For more insight from CNBC contributors, follow @CNBCopinion on Twitter.

https://www.cnbc.com/2018/01/26/tcw-harassment-case-could-hit-all-of-wall-street-commentary.html

GM's new Chevy Silverado bids for more U.S. pickup profits

January 13, 2018 / 3:24 PM / Updated 6 hours ago GM's new Chevy Silverado bids for more U.S. pickup profits Nick Carey , Joseph White 3 Min Read DETROIT (Reuters) - General Motors Co on Saturday will fire a new round in the battle for profits from one of the U.S. auto industry’s most lucrative segments when it shows a new generation of its Chevrolet Silverado pickup truck at Detroit’s auto show. The new Silverado, a highlight of the show, is the successor to GM’s best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. Analysts and company executives say the Silverado and the similar GMC Sierra are among the highest-profit models for the company, generating a significant share of its $9 billion in North American pre-tax earnings for the first nine months of 2017. By adding luxury features to their pickups, automakers have pushed prices in the segment to an average $46,984 a vehicle, according to Cox Automotive. That is well above the industry’s average 2017 transaction price of $31,600 cited by GM. Competition in the North American large pickup market will heat up as GM and rival Fiat Chrysler Automobiles NV begin selling their redesigned trucks later this year and Ford Motor Co invests in its best-selling F-series. Fiat Chrysler plans to unveil a new generation of its Ram pickup truck at Detroit’s auto show on Monday. At a sneak preview in December, GM said it would offer eight versions of the new Silverado and more engine and transmission combinations than the current lineup. Executives said the new Silverado would have a high-strength steel bed floor and use “mixed materials” to cut weight and improve fuel economy. The F-series, which has an aluminum body, has been the best-selling model line in the United States for 41 years, with 2017 sales of nearly 900,000 vehicles. Last year GM sold a total of 947,972 of its four Chevrolet and GMC pickup models, two of which were mid-sized. U.S. consumers are shifting away from smaller cars in favor of larger SUVs, crossovers and pickup trucks, a major boon for the Detroit automakers. Light trucks accounted for 63.2 percent of U.S. new vehicle sales in 2017, up from 59.5 percent in 2016. However, U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016 and are expected to drop further in 2018 as interest rates rise and more late-model used cars come back to dealer lots to compete with new ones. Reporting by Nick Carey and Joseph White; Editing by Lisa Von Ahn

https://www.reuters.com/article/us-autoshow-detroit-silverado/gms-new-chevy-silverado-bids-for-more-u-s-pickup-profits-idUSKBN1F20M3

BioLife Solutions Announces Preliminary 2017 Revenue Increase of 34% to $11 Million

BOTHELL, Wash., Jan. 4, 2018 /PRNewswire/ -- BioLife Solutions , Inc. (NASDAQ: BLFS) ("BioLife"), the leading developer, manufacturer and marketer of proprietary clinical-grade cell and tissue hypothermic storage and cryopreservation freeze media, today announced preliminary Q4 and full year 2017 revenue and provided additional operational updates and financial guidance for 2018. Q4 and FY2017 Preliminary Revenue Preliminary revenue for the fourth quarter of 2017 was $3.1 million, a 39% increase over the prior-year period. For the full year 2017, preliminary revenue was $11 million, a 34% increase from 2016. The growth was driven by increased sales to customers in the regenerative medicine segment and our worldwide distributors. Product Adoption Management estimates that BioLife's proprietary CryoStor ® and HypoThermosol ® biopreservation media products have been used in more than 275 customer clinical applications, including 16 phase 3 clinical trials. This is an increase of 45 additional clinical applications since January 1, 2017. Products were shipped to more than 2,000 customers during 2017. Cash Balance The year-end 2017 cash balance was $6.7 million, compared with $1.4 million at the end of 2016. The increase in cash was primarily the result of positive operating cash flow in the second half of 2017, combined with $3.7 million in cash proceeds from the exercise of 771,434 previously outstanding common stock warrants related to the Company's 2014 registered direct stock offering. Mike Rice, BioLife President & CEO, commented, "We successfully executed in key performance areas throughout 2017. We closed the year with record revenue, increased product adoption, positive cash flow from operations for the second half of the year, and a stronger balance sheet. We are very well positioned for continued growth and increased shareholder value in 2018, considering the broad adoption of our products in the high-growth regenerative medicine market." 2018 Guidance Management has issued financial guidance for 2018 as follows: Biopreservation media revenue is expected to range between $13.6 million to $14.7 million, representing growth of 25% to 35% over 2017. Gross margin is expected to range between 62% to 64%, compared to 2017 guidance of 60% to 62%. Operating expenses are expected to range from $9 million to $9.5 million, an increase of 13% to 19% compared to 2017 guidance of $8 million. GAAP operating profit is expected on a full year basis. Roderick de Greef, Chief Financial Officer, remarked, "Our financial results in 2017 improved across the board, and we expect these positive trends to continue in 2018. We are particularly pleased to have eliminated $4.2 million in senior debt, and we added $5.3 million in cash to our balance sheet during the year without any increase in our fully diluted share count." About BioLife Solutions BioLife Solutions is the leading developer, manufacturer and supplier of proprietary clinical-grade cell and tissue hypothermic storage and cryopreservation freeze media for cells and tissues. Our proprietary HypoThermosol ® and CryoStor ® platform of solutions are highly valued in the regenerative medicine, biobanking and drug discovery markets. Our biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function. please visit www.biolifesolutions.com , and follow BioLife on Twitter . Cautions Regarding Forward Looking Statements Except for historical information contained herein, this press release contains within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements concerning the company's anticipated business and operations, guidance for financial results in 2018, the potential utility of and market for its products and services, potential revenue growth and market expansion, regulatory approvals and/or commercial manufacturing of our customers' products, and potential customer revenue. All statements other than statements of historical fact are statements that could be deemed . These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the , including among other things, uncertainty regarding market adoption of products; uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law. Media & Investor Relations Roderick de Greef Chief Financial Officer (425) 686-6002 rdegreef@biolifesolutions.com View original content with multimedia: http://www.prnewswire.com/news-releases/biolife-solutions-announces-preliminary-2017-revenue-increase-of-34-to-11-million-300577305.html SOURCE BioLife Solutions, Inc.

http://www.cnbc.com/2018/01/04/pr-newswire-biolife-solutions-announces-preliminary-2017-revenue-increase-of-34-percent-to-11-million.html

DP Eurasia delivers 33 percent sales growth in 2017

Jan 23 (Reuters) - DP Eurasia, which operates the Domino’s Pizza brand in Turkey and Russia, reported a 32.8 percent rise in annual sales on Tuesday helped by expansion of its store networks. DP Eurasia, the largest pizza delivery firm in Turkey and the third biggest in Russia by number of stores, also said it expects its adjusted EBITDA to be in line with expectations. Its system stores sales, comprising those from its corporate and franchised stores, rose to 859.8 million Turkish lira ($227.02 million) from 647.4 million lira. The company, which debuted on the London Stock Exchange last year, reported 10 percent growth in like-for-like sales in Turkey and 28.9 percent in Russia driven by online orders. Online orders, supported by revamped mobile apps and investment in its technology, accounted for 51.8 percent of all deliveries in the period compared to 42.4 percent in 2016, it said. $1 = 3.7874 lira Reporting by Anna Pruchnicka in Gdynia; editing by Jason Neely

https://www.reuters.com/article/dp-eurasia-outlook/dp-eurasia-delivers-33-percent-sales-growth-in-2017-idUSL8N1PI10F

UPDATE 1-EU officials reject City of London's Brexit blueprint for banks - sources

January 31, 2018 / 10:44 AM / in 7 minutes UPDATE 1-EU officials reject City of London's Brexit blueprint for banks - sources Reuters Staff (Adds details) By Andrew MacAskill and Huw Jones LONDON, Jan 31 (Reuters) - European Commission officials have rejected the City of London’s proposal to strike a post-Brexit free trade deal on financial services, a major blow to Britain’s hopes of keeping full access to EU markets for one of the world’s top two financial centres. Ever since Britain voted to leave the EU nineteen months ago, some of the world’s most powerful finance companies in London have been searching for a way to preserve the existing cross-border flow of trading after it leaves the bloc in 2019. Officials from the European Union’s executive told British financiers in meetings in recent weeks that they won’t agree to a deal that would allow finance companies to operate in each others’ markets without barriers because Britain has said it will leave the single market, according to two people who attended the meetings. The plan proposed that Britain and the EU would allow cross border trade in financial services on the condition that each side preserve regulatory standards in line with the best international standards. This model would be maintained by close co-operation between regulators and financial policymakers. The proposals are the most detailed so far on how a long-term agreement on financial services with the EU may work after Brexit, with papers setting out how a pact could be structured and policed, and it has been endorsed by Britain’s Brexit minister David Davis. But EU officials are dismissive of any trade models that would see Britain retain similar levels of market access while leaving the single market regime. “They have made it very clear to us that this is unacceptable to them,” said one senior British finance executive present at one of the meetings. “This was our best and frankly only proposal. We don’t have a plan B.” Britain’s vast financial services looks set to be one of the most divisive areas in the Brexit negotiations, with Britain demanding a generous deal while the EU refuses to shift from its insistence that Britain’s red lines -- such as ending the free movement of workers from the EU -- make that impossible. Britain is currently home to the world’s largest number of banks and hosts the largest commercial insurance market. About six trillion euros ($7.47 trillion), or 37 percent, of Europe’s financial assets are managed in the UK capital, almost twice the amount of its nearest rival, Paris. And London dominates Europe’s 5.2 trillion euro investment banking industry. But unless it can secure a trade deal, for all its geographic proximity, Europe’s largest financial capital will end up adrift with the same access to the EU as other countries like Singapore. ($1 = 0.8035 euros) (Editing by Guy Faulconbridge)

https://www.reuters.com/article/britain-eu-finance/update-1-eu-officials-reject-city-of-londons-brexit-blueprint-for-banks-sources-idUSL8N1PQ30U

Fearful millennials are finally ready to take a chance on the stock market

5 Hours Ago | 02:04 Jared Smith represents a new breed of millennial: someone who saw the financial crisis unfold during his formative years but is now ready to step back into the arena and take some risk. The 31-year-old New Yorker is a big believer in stocks. While that seems like a no-brainer for a market that has skyrocketed 325 percent since the crisis lows, investors in general and millennials in particular have been afraid of equities, worried that another crisis could sneak up and wipe out all those gains. Not Smith, who has taken a slice of his trust fund and put it to work on Wall Street. "The market's becoming a little more insulated," he said. "I'm hoping that we learned our lesson from [the crisis] and we have gotten better as a society, especially in the financial and banking world, that we will not allow that again, that certain measure have been put in place since then." Millennials, born between the early 1980s and early 2000s, have been the most reluctant demographic when it comes to diving into risk assets. For instance, a Bankrate survey in 2017 showed just 13 percent would invest in equities, trailing real estate and cash by large margins. But with the market showing stunning resiliency , the tide is turning. Getty Images A survey released Tuesday by megamoney manager BlackRock indicated a big jump in millennial interest in exchange-traded funds, a $3.3 trillion industry populated mostly with securities that track stock market indexes. (Bond funds are getting more popular but still make up only about 16 percent of ETF assets.) The portion of millennials who are buying ETFs jumped from 33 percent in 2016 to 42 percent a year later. That pushes the group to the top of the list in terms of ETF ownership. Silvers (age 71 or older) are next at 37 percent, followed by Gen Xers (29 percent) and baby boomers (27 percent). Overall, investors continue to push money into the low-cost funds, with the industry now boasting $3.3 trillion of assets under management, a 27 percent jump from a year earlier, according to the Investment Company Institute. About 1 in 3 investors uses ETFs, a 24 percent increase from a year ago, according to BlackRock, the industry leader with $1.4 trillion of its total $5.7 trillion under management in the funds. Smith uses a mix of individual stocks and ETFs for his portfolio after initially trusting his investments with a money manager, an experience that was positive but served to whet his appetite for striking out on his own. His portfolio is loaded with popular tech names like Nvidia , Facebook and Netflix , but he's also studying to learn about options trading. He's also recently taken a shot at cryptocurrencies, which he said worries him more than stocks. One factor influencing his appetite for risk: President Donald Trump . "Trump does seem to be much more pro-economy and pro-American stock market than other past presidents," Smith said. "While he's in office I believe there's an extra layer of insulation there from something drastic and catastrophic from happening." WATCH: Millennials will help contribute to the stock boom, economist says. show chapters

https://www.cnbc.com/2018/01/23/fearful-millennials-are-putting-money-into-etfs-and-stocks.html

Former Trump aide Bannon refuses to comply with House subpoena

President Donald Trump's former chief strategist Steve Bannon declined on Tuesday to comply with a subpoena ordering him to answer questions from a U.S. House intelligence panel about his time at the White House as part of its investigation into allegations of Russian interference in the U.S. election. After Bannon initially refused to answer questions about the matter, Devin Nunes, the committee's Republican party chairman, authorized a subpoena during the meeting to press Bannon to respond. Even then, Bannon refused to answer questions after his lawyer had conferred with the White House and was told again to refuse to answer questions about the transition period immediately after Trump was elected, or Bannon's time in the administration, according to Representative Adam Schiff , the top Democrat on the committee. Separately, the New York Times reported that Bannon had been subpoenaed by Special Counsel Robert Mueller to testify before a grand jury in a probe of alleged ties between Russia and Trump's 2016 presidential campaign, on Tuesday. It was the first time Mueller is known to have used a subpoena against a member of Trump's inner circle, the Times said. It cited a person with direct knowledge of the matter. A spokesman for Mueller's office declined comment. Bill Burck, a lawyer for Bannon, could not immediately be reached for comment on the subpoena or his testimony before the House panel. The reported subpoena of Bannon does not mean he is a target of Mueller's criminal investigation. Getty Images Steve Bannon, former advisor to President Trump, arrives at a House Intelligence Committee closed door meeting, on January 16, 2018 in Washington, DC. Bannon, a champion of Trump's "America First" agenda, was among the Republican's closest aides during the 2016 election campaign, the presidential transition and his first months in office. But the pair had a bitter public falling out over comments Bannon made to author Michael Wolff for his recent book "Fire and Fury: Inside the Trump White House." In the book, Bannon is Quote: d as describing a June 2016 meeting between Trump associates, including the president's son Donald Trump Jr., his son-in-law, Jared Kushner , and a Russian lawyer, as "treasonous" and "unpatriotic." Russia has denied meddling in the election and Trump has denied any collusion between his campaign and Moscow. Bannon was fired by the White House in August, though he continued to speak with Trump and tried to promote the president's agenda. Pressure tactic? Bannon spent hours on Tuesday meeting behind closed doors with members of the House of Representatives Intelligence Committee. He was the latest high-profile figure to appear before the panel as part of its investigation into allegations of Russian interference in the U.S. election. Bannon refused to speak not only about his time at the White House, but also any conversations he had with President Trump after he had left the administration "that might be for the purpose of the President seeking his advice on anything," Schiff said. "We expect to have Mr. Bannon back in, we hope very soon, with a different position by the White House," Schiff said. Asked if the White House had told Bannon not to answer certain questions, spokeswoman Sarah Sanders said: "As with all congressional activities touching upon the White House, Congress must consult with the White House prior to obtaining confidential material." "We've been cooperating fully with these ongoing investigations and encourage the committees to work with us to find an appropriate accommodation in order to ensure Congress obtains information necessary to its legitimate interests," she said. Mueller's subpoena, which was issued last week, could be a pressure tactic to induce Bannon to cooperate fully with his investigation. Attorney Renato Mariotti, a former federal prosecutor, said the most likely reason for a Mueller subpoena of Bannon was that "he thought having an attorney present and giving Bannon a more relaxed setting would not yield the same testimony as if he got him in the grand jury room with no attorney there and a more adversarial style of questioning." A witness is not permitted to bring an attorney into a federal grand jury proceeding, but can step outside to consult with counsel.

https://www.cnbc.com/2018/01/17/former-trump-aide-bannon-refuses-to-comply-with-house-subpoena.html

Wanda Hotel sees $55 mln gain from sale of stake in London property unit

HONG KONG, Jan 17 (Reuters) - Wanda Hotel Development Co Ltd , a unit of conglomerate Dalian Wanda Group, will post a HK$434 million ($55 million) gain from the sale of a 60 percent stake in a company that invests in the high-profile One Nine Elms project in London. Wanda Hotel is selling the stake in Wanda International Real Estate to an unidentified independent third party for 35.61 million pounds ($49 million), the company said in a statement. The buyer has also agreed to repay 159.5 million pounds ($220 million) in debt owed by Wanda International Real Estate, it said. Wanda Hotel said its controlling shareholder, Wanda Commercial Properties (Hong Kong) Co Ltd, would also sell the remaining 40 percent stake in the property project in southwest London. It did not elaborate. Shares of Wanda Hotel surged as much as 11.3 percent in early trade on Wednesday. ($1 = 7.8237 Hong Kong dollars) ($1 = 0.7241 pounds) (Reporting by Donny Kwok and Clare Jim; Editing by Edwina Gibbs)

https://www.reuters.com/article/wanda-hotel-london-property/wanda-hotel-sees-55-mln-gain-from-sale-of-stake-in-london-property-unit-idUSL3N1PC14Z

BRIEF-Associated Banc-Corp Q4 Earnings Per Share $0.31

27 PM / Updated 10 minutes ago BRIEF-Associated Banc-Corp Q4 Earnings Per Share $0.31 Reuters Staff 1 Min Read Jan 25 (Reuters) - Associated Banc-Corp: * REPORTS FULL YEAR 2017 EARNINGS OF $1.42 PER COMMON SHARE, OR $1.52 PER COMMON SHARE EXCLUDING EXPENSES RELATED TO THE TAX ACT(1) * Q4 EARNINGS PER SHARE $0.31 * Q4 EARNINGS PER SHARE VIEW $0.38 -- THOMSON REUTERS I/B/E/S * ‍ EPS FOR YEAR ENDED DEC 31, 2017 INCLUDED $15 MILLION OF EXPENSES RELATED TO RECENTLY ENACTED TAX CUTS AND JOBS ACT OF 2017​ * ‍Q4 2017 NET INTEREST INCOME OF $187 MILLION WAS UP 4%, OR $7 MILLION FROM YEAR AGO QUARTER​ Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-associated-banc-corp-q4-earnings-p/brief-associated-banc-corp-q4-earnings-per-share-0-31-idUSASB0C2HA

Tupperware Brands Corporation Announces Fourth Quarter 2017 Results Conference Call Webcast

ORLANDO, Fla., Jan. 3, 2018 /PRNewswire/ -- Tupperware Brands Corporation (NYSE: TUP) will release its fourth quarter 2017 results on Wednesday, January 31, 2018 , prior to the opening of the market, followed by a conference call at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). This call will be webcast by NASDAQ OMX and can be accessed at www.tupperwarebrands.com . Tupperware Brands Corporation is the leading global marketer of innovative, premium products across multiple brands utilizing a social selling method through an independent sales force of 3.2 million. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through the Avroy Shlain, Fuller Cosmetics, NaturCare, Nutrimetics, and Nuvo brands. View original content with multimedia: http://www.prnewswire.com/news-releases/tupperware-brands-corporation-announces-fourth-quarter-2017-results-conference-call-webcast-300577014.html SOURCE Tupperware Brands Corporation

http://www.cnbc.com/2018/01/03/pr-newswire-tupperware-brands-corporation-announces-fourth-quarter-2017-results-conference-call-webcast.html

LIVE MARKETS-European stock futures edge up

15 AM / in 27 minutes LIVE MARKETS-European stock futures edge up Reuters Staff 3 Min Read * European shares seen little changed * Novartis beats analyst forecasts Jan 24 (Reuters) - Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net EUROPEAN STOCK FUTURES EDGE UP (0703 GMT) European shares are expected to open just marginally higher with stock index futures moving between flat and a gain of 0.1 percent. Some strong corporate updates including from drugmaker Novartis, which we mentioned in out previous post, and Dutch-Belgian supermarket Ahold Delhaize could provide support, while on the macro front PMI data will grab the attention ahead of tomorrow's European Central Bank meeting. And Talking about the ECB here is a graphic piece from Reuters with five questions for Mario Draghi. Here is your futures snapshot: (Danilo Masoni) PHARMA IN FOCUS AFTER NOVARTIS BEAT (0632 GMT) The healthcare sector could be one to watch this morning after Swiss-based heavyweight Novartis posted better than expected results. European healthcare stocks have underperformed the broader market so far this year as expectations over stronger economic caused a switch from defensives into cyclicals. The Swiss drugmaker forecast 2018 operating profit would grow faster than sales as revenue from drugs including its latest blockbuster Cosentyx accelerates and the company exits a period when patent losses dented results. Will Novartis figures help the sector catch up today? (Danilo Masoni)

https://www.reuters.com/article/europe-stocks/live-markets-european-stock-futures-edge-up-idUSL8N1PJ141

Playboy May Discontinue Print Magazine | Fortune

By Sarah Gray January 2, 2018 Playboy may stop publishing a print version of its once-revolutionary magazine amid tumbling readership, according to a report in the Wall Street Journal . Private equity firm Rizvi Traverse, which owns a majority of the company, instead wants to focus on the licensing the Playboy name—along with its widely recognized bunny logo—and brand partnerships, according to the report. “We want to focus on what we call the ‘World of Playboy’ which is so much larger than a small, legacy print publication,” Ben Kohn, a managing partner at Rizvi Traverse and CEO of Playboy Enterprises, told WSJ . “We plan to spend 2018 transitioning it from a media business to a brand-management company.” Rizvi Traverse gained majority control of Playboy in 2011 when it helped the magazine’s founder, Hugh Hefner, take the company private. The deal, according to WSJ , included keeping the print magazine, which first published in 1953, while Hefner was alive. He died late last year. Playboy Enterprises grew out of Playboy magazine, known for its centerfold nude photos of models and actresses. During its heyday, the magazine also published notable fiction and non-fiction from writers such as Ray Bradbury and Margaret Atwood. In 2016, Playboy magazine stopped publishing nude images of women , but brought them back in 2017. Though no final decision has been made about the print magazine, its circulation has declined for years. Meanwhile, Playboy magazine “has lost as much as $7 million annually in recent years,” WSJ reported. “Historically, we could justify the losses because of the marketing value, but you also have to be forward thinking,” Kohn told WSJ. “I’m not sure that print is necessarily the best way to communicate to our consumer going forward.” A spokesman for Playboy Enterprises had no further comment. Fortune also contacted Brunswick Group, the PR firm representing Rizvi Traverse, and will update as necessary. SPONSORED FINANCIAL CONTENT

http://fortune.com/2018/01/02/playboy-may-end-print-magazine-report/

Monroe Capital Supports Arcapita Investment Management US, Inc.’s Acquisition of MC Sign Company

CHICAGO--(BUSINESS WIRE)-- Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of MC Sign Company by Arcapita Investment Management US, Inc. Based in Mentor, Ohio, MC Sign Company is a national facility services company providing sign and lighting services to a diverse set of customers, facilities and end markets including retail, telecom, hospitality, commercial/industrial, finance, healthcare, and restaurants. About Monroe Capital Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and special situations investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides senior and junior debt financing to businesses, special situation borrowers and private equity sponsors. Investment types include unitranche financings; cash flow, asset based and enterprise value based loans; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management and private equity sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Dallas, Los Angeles, New York, and San Francisco. Monroe has been recognized by Global M&A Network as the 2017 Small Middle Markets Lender of the Year; Private Debt Investor as the 2016 Lower Mid-Market Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit monroecap.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180123005380/en/ Monroe Capital LLC Theodore L. Koenig 312-523-2360 tkoenig@monroecap.com or BackBay Communications Emily Stoermer 617-391-0801 emily.stoermer@backbaycommunications.com Source: Monroe Capital LLC

http://www.cnbc.com/2018/01/23/business-wire-monroe-capital-supports-arcapita-investment-management-us-inc-as-acquisition-of-mc-sign-company.html

Hecla Fourth Quarter and Year-End 2017 Financial Results Conference Call and Webcast

COEUR D’ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company ( NYSE:HL ) today announced it expects to release its fourth quarter and year-end 2017 financial results before market open on Thursday, February 15, 2018. A conference call and webcast will be held Thursday, February 15, at 10:00 a.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-855-760-8158 or for international by dialing 1-720-634-2922. The participant passcode is HECLA. Hecla’s live and archived webcast can be accessed at www.hecla-mining.com under Investors or via Thomson StreetEvents Network. Institutional investors can access the call via Thomson StreetEvents ( www.streetevents.com ), a password-protected event management site. ABOUT HECLA Founded in 1891, Hecla Mining Company ( NYSE:HL ) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. Cautionary Statements Regarding Forward Looking Statements Statements made or information provided in this news release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Such forward-looking statements or forward-looking information include statements or information regarding silver production for 2017 on a consolidated basis and at each of the Greens Creek, Lucky Friday and San Sebastian mines, annual gold production for 2017 at Casa Berardi, and fourth quarter 2017 production. The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company’s operations are subject. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, litigation, regulatory and environmental risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the Company's Form 10K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law. View source version on businesswire.com : http://www.businesswire.com/news/home/20180130005293/en/ Hecla Mining Company Investor Relations Jeanne DuPont, 800-HECLA91 (800-432-5291) Corporate Communications Coordinator hmc-info@hecla-mining.com www.hecla-mining.com Source: Hecla Mining Company

http://www.cnbc.com/2018/01/30/business-wire-hecla-fourth-quarter-and-year-end-2017-financial-results-conference-call-and-webcast.html

U.S. hails Olympics security plan; opposes North Korea military parade

WASHINGTON (Reuters) - The U.S. State Department voiced displeasure on Wednesday over North Korean plans to stage a military parade on the eve of the Winter Olympics, but it assured Americans going to the games that South Korea’s security plan considered all contingencies. “Any citizen of the United States traveling to the 2018 Winter Games can rest assured that the Republic of Korea has a comprehensive security system in place and that the United States government is supporting our ally in that regard,” Under Secretary of State Steve Goldstein told a briefing. The Winter Games begin on Feb. 9 in Pyeongchang, South Korea, at a time of high tensions over North Korea’s nuclear weapons and missile programs. After talks earlier this year aimed at defusing tensions, North and South Korea agreed to field a unified women’s ice hockey team and to march their athletes under one flag at the opening ceremony. Despite its decision to send athletes, North Korea announced it would celebrate the founding of its military on Feb. 8, an event generally marked with a large military parade displaying weapons like missile launchers. “While we would prefer that this parade not occur on Feb. 8, it is our hope, and I know the hope of South Korea, that the North Koreans ... will join with all the nations of the world in celebrating the athletes,” Goldstein said. U.S. officials said the State Department’s Diplomatic Security Service was the lead U.S. agency helping South Korean authorities with security, a role it has undertaken at every Olympics since the 1976 Montreal games. Richard Colon, a Diplomatic Security official, said the service would have about 100 personnel in South Korea, working both from the U.S. Embassy and the Olympics venues. They are assisting some 275 athletes and as many as 60,000 U.S. citizens. Colon and other officials said organizing security for the South Korea games was no different than that of other Olympics, despite the tensions with Pyongyang. The security officials said they were unaware of any specific threats and were confident that the South Koreans can provide a secure Olympics. They noted Seoul hosted the 2014 Asian games and the 2002 FIFA world cup. “We have planned for all contingencies, and when I say all contingencies, you think about it, I mean we’re only less than a hundred miles (200 km) from North Korea,” said Michael Evanoff, the assistant secretary for diplomatic security. “So we’ve planned for all contingencies.” Reporting by David Alexander; Editing by David Gregorio

https://www.reuters.com/article/us-olympics-2018-usa-security/u-s-hails-olympics-security-plan-opposes-north-korea-military-parade-idUSKBN1FK2WA

INSIGHT: Divers unearth world's biggest underwater cave

INSIGHT: Divers unearth world's biggest underwater cave 1:17pm IST - 00:40 A group of divers in eastern Mexico have discovered what is believed to be the largest flooded cave on the planet. The divers connected two giant underwater caverns to make the find. ▲ Hide Transcript ▶ View Transcript A group of divers in eastern Mexico have discovered what is believed to be the largest flooded cave on the planet. The divers connected two giant underwater caverns to make the find. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2DlSe00

https://in.reuters.com/video/2018/01/17/insight-divers-unearth-worlds-biggest-un?videoId=386633641

Staples, Inc. Names Sandy Douglas as Chief Executive Officer

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Staples, Inc. (“Staples” or “the Company”), a leading North American business-to-business distribution platform, today announced the appointment of J. Alexander (Sandy) Douglas as Chief Executive Officer, effective April 2, 2018. Mr. Douglas will succeed Shira Goodman as CEO. John Lederer, Executive Chairman of Staples, Inc. and its separate United States and Canadian Retail Businesses, will lead the Company on a day-to-day basis during the transition. Mr. Douglas most recently served as President of Coca-Cola North America, where he led the $10 billion revenue business, encompassing all aspects of their consumer and business-to-business operations. During his 30-year tenure at The Coca-Cola Company, he also served as Global Chief Customer Officer, and held a variety of positions across sales and marketing. Mr. Douglas began his career at the Procter & Gamble Company in sales and sales management positions. “I am honored to be joining Staples, Inc. as CEO,” said Mr. Douglas. “Together with the Company’s leadership and its associates, we will work to drive the business forward as we continue to deliver exceptional products, service and expertise to Staples’ customers.” Mr. Lederer said, “The North American Delivery business has a significant opportunity to accelerate long-term growth, and we are pleased to have Sandy join the leadership team at this important time. Sandy has extensive experience across multiple function areas including sales, marketing, merchandising and operations. This well-rounded experience makes him an ideal leader for Staples.” About Staples, Inc. Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about helping businesses work better. Headquartered outside of Boston, MA, Staples, Inc. operates primarily in North America. More information about Staples is available at www.staples.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180126005622/en/ Staples, Inc. Mark Cautela, 508-253-3832 mark.cautela@staples.com Source: Staples, Inc.

http://www.cnbc.com/2018/01/26/business-wire-staples-inc-names-sandy-douglas-as-chief-executive-officer.html

Russia's Arlan aims to have doubled gold output in 2020

MOSCOW, Jan 12 (Reuters) - Russian gold producer Arlan plans to have doubled gold output from its mine in 2020, expecting the price for the precious metal to rise further, the firm’s director for development said. Russia, the world’s third largest gold producer, has seen its gold mining expand in recent years with a weakened rouble helping cope with relatively low global gold prices since 2014. Arlan opened its Pavlik gold mine in Magadan in Russia’s far east in 2015 with a $550 million loan from a company affiliated with the Russian state development bank Vnesheconombank, or VEB. The privately-owned company produced 6.5 tonnes of gold in 2017 and expects to raise that to 6.8 tonnes this year. Arlan targets a further output increase to 13 tonnes in 2020 and aims to maintain that level for 10 years, Sergei Terentyev, Arlan’s director for development, told Reuters in an interview. To raise output, the firm needed to double the amount of ore it could process to 10 million tonnes a year by 2020 from five million tonnes, he said. The expansion would cost about $200 million, which the firm aimed to borrow from Russian state banks, Terentyev said, adding that talks could be concluded soon. He said selling bonds to raise funds was also an option. Gold prices rose 13 percent last year, reaching a high of $1,357 per ounce in early autumn. “I think we will see gold prices at $1,400 an ounce this year,” Terentyev said, adding that he expected the $2,000-mark to be crossed in future. Gold peaked at $1,920 in 2011. Russia’s far eastern Magadan region, also known as Kolyma, is famous for gold deposits, where prisoners of Stalin’s Gulag labour camps were forced to work during Soviet times. The area will host Russia’s largest gold mine, Natalka, when its owner Polyus hikes its output by 2019. Russia produced 193.58 tonnes of gold in the first eight months of 2017, up from 179.73 tonnes in the same period of 2016. (Reporting by Diana Asonova; Writing by Polina Ivanova; Editing by Katya Golubkova and Edmund Blair)

https://www.reuters.com/article/russia-gold-arlan/russias-arlan-aims-to-have-doubled-gold-output-in-2020-idUSL8N1P64P6

Putnam Announces Dividend Rates for Open-End Funds

BOSTON--(BUSINESS WIRE)-- The Trustees of The Putnam Funds have declared the following distributions today. RECORD PAYMENT FUND NAME AND DISTRIBUTIONS DATE DATE Putnam Diversified Income Trust - Class B Shares (PSIBX) $0.0290 per share investment income 1/16/18 1/22/18 Putnam Diversified Income Trust - Class C Shares (PDVCX) $0.0290 per share investment income 1/16/18 1/22/18 Putnam Diversified Income Trust - Class M Shares (PDVMX) $0.0320 per share investment income 1/16/18 1/22/18 Putnam Diversified Income Trust - Class R Shares (PDVRX) $0.0310 per share investment income 1/16/18 1/22/18 Putnam Diversified Income Trust - Class Y Shares (PDVYX) $0.0350 per share investment income 1/16/18 1/22/18 Putnam Diversified Income Trust - Class R6 Shares (PDVGX) $0.0350 per share investment income 1/16/18 1/22/18 Putnam U.S. Government Income Trust - Class B Shares (PGSBX) $0.0250 per share investment income 1/16/18 1/22/18 Putnam U.S. Government Income Trust - Class C Shares (PGVCX) $0.0250 per share investment income 1/16/18 1/22/18 Putnam U.S. Government Income Trust - Class M Shares (PGSMX) $0.0300 per share investment income 1/16/18 1/22/18 Putnam U.S. Government Income Trust - Class R Shares (PGVRX) $0.0300 per share investment income 1/16/18 1/22/18 Putnam U.S. Government Income Trust - Class Y Shares (PUSYX) $0.0360 per share investment income 1/16/18 1/22/18 View source version on businesswire.com : http://www.businesswire.com/news/home/20180116006641/en/ PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581 Source: The Putnam Funds

http://www.cnbc.com/2018/01/16/business-wire-putnam-announces-dividend-rates-for-open-end-funds.html

Deals of the day-Mergers and acquisitions

January 18, 2018 / 11:00 AM / in 11 minutes Deals of the day-Mergers and acquisitions Reuters Staff 2 Min Read (Adds Wyndham Worldwide, EnQuest, E.ON; updates Ablynx) Jan 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Thursday: ** British engineering group GKN dismissed Melrose’s 7.4 billion pound ($10.2 billion) hostile bid as “misleading” and denied it was rushing into a break-up. ** The largest shareholder in Belgian biotech group Ablynx regards the 2.6 billion euro ($3.2 billion) offer made by Denmark’s Novo Nordisk as too low but would be willing to consider a higher figure. ** Wyndham Worldwide Corp will buy La Quinta Holdings Inc’s hotel operations for $1.95 billion, it said, adding another well-known U.S. brand and nearly 900 mid-scale, upper mid-scale and economy locations to its portfolio. ** Auto parts distributor Realord Group Holdings Ltd said it would buy property assets in Shenzhen for an aggregate 6.22 billion yuan ($968.4 million), in a bid to enhance its investment property portfolio. ** North Sea-focused oil and gas producer EnQuest has hired investment bank Jefferies to advise on a sale of a 20 percent stake in its recently-started Kraken field, according to a document seen by Reuters. ** The German state of Bavaria could sell its 1.44 percent stake in energy firm E.ON to fund the development of new housing, its finance minister Markus Soeder said. (Compiled by Manas Mishra in Bengaluru)

https://www.reuters.com/article/deals-day/deals-of-the-day-mergers-and-acquisitions-idUSL3N1PD3YC

Cricket-Ponting named assistant Australia coach for T20 series

January 9, 2018 / 4:25 AM / Updated 14 hours ago Ponting named assistant Australia coach for T20 series Reuters Staff 2 Min Read SYDNEY (Reuters) - Former Australia captain Ricky Ponting has been named as an assistant to national coach Darren Lehmann for the triangular Twenty20 series against New Zealand and England next month. Former Australia captain Ricky Ponting warms up ahead of Surrey's County Cricket match against Yorkshire at Headingley, northern England, June 21, 2013. REUTERS/Phil Noble Ponting had a similar role last year against Sri Lanka. Ponting has been brought into the coaching setup as Graeme Hick, David Saker and Brad Haddin will leave early to begin preparations for Australia’s tour of South Africa in March. Troy Cooley and Matthew Mott will also join Lehmann’s Twenty20 coaching team. ”I‘m delighted to be involved with the Australian squad again for what should be a terrific series against England and New Zealand,“ Ponting said in a statement. ”I loved working with the squad last year. “We have a wealth of talent available to us in this format and a tri-series like this will give us a great chance to establish a pattern of play that works best for the players.” Australia have embarked on a series of rotating coaching appointments over the last few seasons, with Lehmann already stating he would step down after the next Ashes series in 2019. [nL4N1OP24D] Steve Smith’s side regained the Ashes with a 4-0 series result that ended on Monday with an innings and 123-run victory in the fifth and final test in Sydney. They face England in five one-day internationals starting on Sunday in Melbourne before the triangular Twenty20 series begins on Feb. 3 in Sydney. Reporting by Greg Stutchbury in Wellington; Editing by Amlan Chakraborty

https://uk.reuters.com/article/uk-cricket-australia-ponting/ponting-named-assistant-australia-coach-for-t20-series-idUKKBN1EY0C1

Meridian Bancorp, Inc. Announces Completion of Meetinghouse Bancorp, Inc. Acquisition

BOSTON, Jan. 02, 2018 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (“Meridian”) (NASDAQ:EBSB), the holding company for East Boston Savings Bank, announced today that, effective December 29, 2017, it has completed its acquisition of Meetinghouse Bancorp, Inc. (“Meetinghouse”). Upon completion of the merger, each Meetinghouse stockholder became entitled to receive $26.00 in cash for each share of Meetinghouse common stock that they held at the effective time of the merger. “We are excited to announce the completion of the Meetinghouse acquisition today. We believe that the acquisition will enable us to continue to grow our banking franchise in the Boston metropolitan area and expand our presence in the Dorchester and Roslindale markets,” said Richard J. Gavegnano, President and Chief Executive Officer of Meridian. Anthony A. Paciulli, President and Chief Executive Officer of Meetinghouse, said “We are proud to be joining Meridian and East Boston Savings Bank, which has served the Boston market for generations with a similar culture and common commitment to local decision making, exceptional personal service and community support.” Piper Jaffray & Co. acted as financial advisor to Meridian, and Kilpatrick Townsend & Stockton LLP served as legal counsel to Meridian. Keefe, Bruyette & Woods, Inc. acted as financial advisor to Meetinghouse and Nutter McClennen & Fish LLP served as legal counsel to Meetinghouse. About Meridian Bancorp, Inc. Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 33 full-service locations in the greater Boston metropolitan area. East Boston Savings Bank offers a variety of deposit and loan products to individuals and businesses located in its primary market, which consists of Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. For additional information, visit www.ebsb.com . Forward Looking Statements This press release contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995, which are based on Meridian’s current expectations, estimates and projections about future events. This includes statements regarding the integration efforts following the completion of the Meetinghouse acquisition, Meridian’s ability to expand its services and realize growth and efficiencies through the acquisition of Meetinghouse and Meetinghouse Bank, Meridian’s expectations regarding the internal rate of return on the acquisition, merger-related expenses and the impact of the transaction on Meridian’s earnings, market share and capital position. These statements are not historical facts or guarantees of future performance, events or results. Such statements involve potential risks and uncertainties, such as Meridian’s ability to integrate Meetinghouse Bank as planned and the general effects of financial, economic, regulatory and political conditions affecting the banking and financial services industries. Accordingly, actual results may differ materially. Meridian undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, other risks and uncertainties may be described in Meridian’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q or its other reports as filed with the Securities and Exchange Commission, which are available through the SEC’s website at www.sec.gov . Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, Meridian assumes no obligation to update any forward-looking statements. Contact: Richard J. Gavegnano, Chairman, President and Chief Executive Officer (978) 977-2211 Source:Meridian Bancorp, Inc.

http://www.cnbc.com/2018/01/02/globe-newswire-meridian-bancorp-inc-announces-completion-of-meetinghouse-bancorp-inc-acquisition.html

Falcons fall 2 yards short as Eagles advance

EditorsNote: adds Quote: s Rookie kicker Jake Elliott booted three field goals, LeGarrette Blount rushed for a 1-yard touchdown, and the Philadelphia Eagles defeated the visiting Atlanta Falcons 15-10 in the NFC divisional playoffs Saturday at Lincoln Financial Field. The crowd erupted when Falcons quarterback Matt Ryan’s pass fell incomplete in the end zone on fourth-and-goal from the Philadelphia 2-yard line with less than one minute remaining. The top-seeded Eagles won their first playoff game since 2009 and advanced to host the NFC Championship Game next Sunday against either the New Orleans Saints or the Minnesota Vikings. “It’s an awesome feeling to be moving on and having a chance at the Super Bowl,” Eagles defensive tackle Fletcher Cox said. “We have belief in one another, and we knew we could win. One more and we’re off to Minneapolis.” Eagles quarterback Nick Foles managed the game effectively by completing 23 of 30 passes for 246 yards. Ryan was hardly dominant, going 22-of-36 for 210 yards and one touchdown. Julio Jones caught nine passes for 101 yards but couldn’t come down with the ball on the game-deciding, fourth-down play. “It’s difficult when you get to the playoffs and you’ve put in all the work throughout the year,” Ryan said. “You’re in a competitive game. There’s a lot of back and forth. It’s disappointing to not get the outcome that you want.” Elliott booted his third field goal of the game, a 21-yard chip shot with 6:02 left, for a 15-10 lead. The Eagles marched 80 yards in 14 plays and moved to the Atlanta 4, where they had fourth-and-1. Instead of going for it, they chose the safe route and three more points. A 37-yard field goal by Elliott gave the Eagles a 12-10 lead with 11 seconds left in the third quarter. The drive started at Philadelphia’s 7-yard line, and the Eagles advanced 74 yards in 12 plays. Elliott connected on a 53-yard field goal as time expired in the first half, closing the Eagles’ deficit to 10-9. Ryan tossed a 6-yard touchdown pass to running back Devonta Freeman and the Falcons captured the lead 10-6 with 5:41 remaining in the second. The drive started at the Philadelphia 18-yard line because Eagles linebacker Bryan Braman made contact with the ball on an Atlanta punt, setting up the Falcons in prime field position. Blount capped a 14-play, 86-yard drive by scampering in from the 1-yard line with 10:28 left in the second. The Eagles ran the ball effectively the entire drive and appeared to have scored on their 13th play. Foles and running back Corey Clement mishandled the handoff, and Foles actually pounced on the ball and dived into the end zone. A replay reversed the call, marking Foles down at the 1, setting up Blount’s touchdown on fourth down, though Elliott missed the extra point. Philadelphia running back Jay Ajayi fumbled on the Eagles’ first series of the game, and the Falcons proceeded to move 59 yards in 11 plays capped by Matt Bryant’s 33-yard field goal. --Field Level Media

https://www.reuters.com/article/football-nfl-phi-atl-recap/falcons-fall-2-yards-short-as-eagles-advance-idUSMTZEE1EITL4YZ

CONSENSUS utili società FTSE Mib * stime all'11 gennaio

EPS DPS EPS DPS A2A Dec-2017 0.12 0.06 Dec-2018 0.12 0.07 PRX GENERALI Dec-2017 1.42 0.84 Dec-2018 1.56 0.91 PRX ATLANTIA Dec-2017 1.36 1.03 Dec-2018 1.52 1.13 PRX AZIMUT Dec-2017 1.32 1.06 Dec-2018 1.43 1.16 PRX BANCA GENERALI Dec-2017 1.78 1.30 Dec-2018 1.96 1.40 PRX BANCO BPM - - - - - - - BANCA POPOLARE EMILIA ROMAGNA Dec-2017 0.29 0.07 Dec-2018 0.47 0.12 PRX BUZZI UNICEM Dec-2017 1.31 0.22 Dec-2018 1.58 0.33 PRX CNH INDUSTRIAL Dec-2017 0.48 0.16 Dec-2018 0.63 0.21 PRX CAMPARI Dec-2017 0.21 0.05 Dec-2018 0.23 0.05 PRX ENEL Dec-2017 0.36 0.23 Dec-2018 0.40 0.28 PRX ENI Dec-2017 0.57 0.80 Dec-2018 0.74 0.81 PRX EXOR Dec-2017 5.70 0.37 Dec-2018 6.60 0.38 PRX FERRARI Dec-2017 3.28 0.89 Dec-2018 3.54 1.03 PRX FCA Dec-2017 2.29 0.01 Dec-2018 2.77 0.07 PRX FINECOBANK BANCA FINECO Dec-2017 0.36 0.28 Dec-2018 0.40 0.32 PRX BREMBO Dec-2017 0.86 0.22 Dec-2018 0.83 0.24 PRX INTESA SANPAOLO Dec-2017 0.21 0.20 Dec-2018 0.23 0.19 PRX LEONARDO Dec-2017 0.78 0.14 Dec-2018 0.97 0.19 PRX LUXOTTICA Dec-2017 1.89 0.99 Dec-2018 2.07 1.07 PRX MEDIASET Dec-2017 0.12 0.06 Dec-2018 0.17 0.10 PRX MEDIOBANCA Jun-2018 0.84 0.40 Jun-2019 0.86 0.41 PRX MONCLER Dec-2017 0.98 0.22 Dec-2018 1.07 0.28 PRX PIRELLI & C. Dec-2016 - - Dec-2017 0.36 0.02 PRX POSTE ITALIANE Dec-2017 0.52 0.41 Dec-2018 0.61 0.45 PRX PRYSMIAN Dec-2017 1.56 0.46 Dec-2018 1.78 0.52 PRX RECORDATI Dec-2017 1.42 0.83 Dec-2018 1.56 0.90 PRX SAIPEM Dec-2017 0.18 0.00 Dec-2018 0.15 0.01 PRX SALVATORE FERRAGAMO Dec-2017 0.82 0.43 Dec-2018 0.88 0.45 PRX SNAM Dec-2017 0.27 0.22 Dec-2018 0.28 0.22 PRX STMICROELECTRONICS Dec-2017 0.90 0.24 Dec-2018 1.14 0.26 PRX TELECOM ITALIA Dec-2017 0.07 0.00 Dec-2018 0.08 0.01 PRX TENARIS Dec-2017 0.28 0.42 Dec-2018 0.48 0.44 PRX TERNA Dec-2017 0.34 0.22 Dec-2018 0.35 0.23 PRX UNICREDIT Dec-2017 1.45 0.29 Dec-2018 1.50 0.36 PRX UBI BANCA Dec-2017 0.17 0.10 Dec-2018 0.31 0.13 PRX UNIPOL Dec-2017 (0.42) 0.18 Dec-2018 0.45 0.18 PRX UNIPOLSAI Dec-2017 0.19 0.13 Dec-2018 0.19 0.13 PRX YOOX Dec-2017 0.44 0.00 Dec-2018 0.61 0.00 PRX NOTA - Utili per azione e dividendo per azione sono espressi in euro. Il consensus sugli EPS è calcolato sulla base del dato che raccoglie il numero più alto di previsioni fra EBG (utile prima di ammortamenti e voci straordinarie) PRX (utile prima di voci straordinarie) REP (as reported) Italgas non è indicata nella tabella poiché i dati raccolti non sono sufficienti. Il consensus è basato su previsioni raccolte entro l'11 gennaio 2018. Fonte: EIKON (stime: Thomson Reuters Knowledge) "Pagina Italia" o "Panorama Italia"

https://it.reuters.com/article/itEuroRpt/idITL8N1P6357

Norway's Labour Party deputy leader resigns over harassment allegations

January 7, 2018 / 10:12 PM / Updated 32 minutes ago Norway's Labour Party deputy leader resigns over harassment allegations Reuters Staff 2 Min Read OSLO (Reuters) - The deputy head of Norway’s main opposition Labour Party said on Sunday he was resigning following accusations of sexual harassment. Trond Giske, 51, who held several cabinet posts in Labour governments, has apologised for what he said was unsuitable behaviour, but has rejected the most severe allegations as false and unfounded. Few details of the allegation have been made public, but party leader Jonas Gahr Stoere said last month several women had accused his deputy of “unwanted encounters of a sexual nature”. Giske, who has been suspended from his post since Jan. 1, wrote on Facebook that he had decided to step down as deputy leader, and that he would also resign his post as Labour’s chief spokesman on economic policy if requested by the party. “The main reason I‘m doing this, is that it’s impossible for me and my family to withstand the pressure we’ve been under in recent weeks,” he said, while adding he looked forward to present his own version of the cases. Gahr Stoere said in a statement he had advised Giske, one of two deputy leaders of the party, to resign. Giske, who had been seen as a contender to lead the party in the future, remains a member of Norway’s parliament. The next parliamentary election is not due until 2021. A number of figures from politics, corporate life and entertainment in several countries have quit or been fired in recent weeks as women have come forward with accusations of abuse and harassment. The social movement aimed at raising awareness of sexual harassment and assault, epitomised by the #MeToo social media hashtag, was last month named Time magazine’s 2017 “Person of the Year”. Reporting by Henrik Stolen; Editing by Terje Solsvik and Alison Williams

https://uk.reuters.com/article/uk-norway-politics/norways-labour-party-deputy-leader-resigns-over-harassment-allegations-idUKKBN1EW0VV

Slovenia to reduce public debt to 71.7 pct of GDP in 2018

January 9, 2018 / 2:12 PM / Updated 18 minutes ago Slovenia to reduce public debt to 71.7 pct of GDP in 2018 Reuters Staff 2 Min Read LJUBLJANA, Jan 9 (Reuters) - Slovenia plans to reduce its public debt to a little more than 70 percent of gross domestic product this year, the Ministry of Finance told Reuters on Tuesday. The government wants to cut debt to 32.5 billion euros ($38.78 billion), or 71.7 percent of GDP. Last year, debt fell to 75.2 percent of GDP from 78.5 percent in 2016, according to the October finance ministry estimate. Slovenia’s economy returned to growth in 2014 after avoiding an international bailout of its banks. Its goal is to reduce debt by 2030 to 60 percent of GDP, the ceiling set by the European Union. The finance ministry also rejected local media reports that the government is considering raising value-added tax to 24 percent from 22 percent to cover demands for higher public-sector wages. “We are not preparing any such decrees. The finance ministry would not support an increase of VAT to cover trade unions’ demands,” the ministry said in a statement sent to Reuters. A number of public-sector unions are threatening strikes later in January or in February unless their wages are increased significantly, among them teachers’ trade union SVIZ. The government, which is preparing for a parliamentary election that is expected in June, is in talks with unions regarding wage hikes but has said wage increases have to remain limited. ($1 = 0.8382 euros) (Reporting By Marja Novak)

https://www.reuters.com/article/slovenia-debt/slovenia-to-reduce-public-debt-to-71-7-pct-of-gdp-in-2018-idUSL8N1P4465

Boston floods and records highest tide in nearly 100 years in wake of snowstorm

Boston has recorded its highest tide in nearly a century on the heels of this week's snowstorm. The Boston office of the National Weather Service said the city reached the record in a tweet sent Friday: NWS Boston This tide is the highest in the area the weather service has seen since it began keeping records in 1921. The tide has already contributed to icy flooding across the city. show chapters Boston cleans up in aftermath of 'bomb cyclone' 4 Hours Ago | 01:29 For example, this tweet from the Massachusetts Bay Transportation Authority Transit Police shows water gushing down the stairs of one of Boston's underground rail stations. MBTA "I think what to take away from this is how unprecedented it is," said Benjamin Sipprell, a meteorologist with the weather service in Boston. The new record edges out the one set during the Blizzard of '78, another time when a winter storm flooded the streets of Boston. Apart from beating the record, though, there is something else about this storm that makes it so unique: it happened so quickly. In the case of the 1978 blizzard, it took several tide cycles over days for the highest tide levels to develop, Sipprell said. In contrast. this week's record was set in a single tidal cycle. This was partly due to the rapidly dropping pressure of the storm, which made it intensify rapidly, and the fact that there had been a "supermoon," or a moon at perigee, or its closest point to Earth. Full moons tend to intensify tides, and have an even greater impact when the moon is at perigee. This is what sent waves of ice and water into Boston's days before temperatures are expected to fall below zero. "I think we are still trying to grasp the magnitude of what happened yesterday," Sipprell said, referring to Thursday. "This is a storm that should be remembered."

https://www.cnbc.com/2018/01/05/boston-floods-and-records-highest-tide-in-nearly-100-years-in-wake-of-snowstorm.html

Adviser to Ave Maria Mutual Funds Announces Portfolio Manager Promotions

PLYMOUTH, Mich.--(BUSINESS WIRE)-- Schwartz Investment Counsel, Inc., the investment adviser for the Ave Maria Mutual Funds, has announced two portfolio manager promotions effective January 1, 2018. For the Ave Maria Value Fund (Ticker: AVEMX), Chadd M. Garcia was named co-Portfolio Manager, joining Lead Portfolio Manager, Timothy S. Schwartz, CFA, and co-Portfolio Manager Joseph W. Skornicka, CFA. For the Ave Maria Bond Fund (Ticker: AVEFX), Adam P. Gaglio, CFA, was named co-Portfolio Manager, joining Lead Portfolio Manager Brandon S. Scheitler and co-Portfolio Manager Richard L. Platte, Jr., CFA. George P. Schwartz, Chairman and Chief Executive Officer, remarked, “Chadd and Adam have proven themselves as outstanding research analysts and we think they are well prepared for the challenge of being portfolio managers. They will add depth to the management of these two mutual funds.” About Ave Maria Mutual Funds Ave Maria Mutual Funds is the largest family of Catholic mutual funds in the U.S. with over $2 billion in assets. The five no-load funds invest in companies that do not violate core values and teachings of the Catholic Church. The largest of the funds is the $975 million Ave Maria Rising Dividend Fund (Ticker: AVEDX). For more information about Ave Maria Mutual Funds, please call 1-866-AVE-MARIA (866-283-6274) or visit http://avemariafunds.com . About Schwartz Investment Counsel, Inc. Schwartz Investment Counsel, Inc. is a Registered Investment Adviser. Founded in 1980, the Firm is headquartered in Plymouth, Michigan with a branch office in Ave Maria, Florida. In managing the Ave Maria Mutual Funds, investments are made only if companies meet the Funds’ financial and moral criteria. As such, returns may be lower or higher than if decisions were based solely on investment considerations. The Funds’ method of security selection may or may not be successful and the Funds may underperform or outperform the stock market as a whole. All mutual funds are subject to market risk, including possible loss of principal. For more information about Schwartz Investment Counsel, Inc., please visit www.schwartzinvest.com . Request a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing. The prospectus can be obtained by calling 1-866-283-6274 or it can be viewed at www.avemariafunds.com . Distributed by Ultimus Fund Distributors LLC. View source version on businesswire.com : http://www.businesswire.com/news/home/20180103005025/en/ Schwartz Investment Counsel, Inc. Mike Richter Director of Marketing 734-455-7777 mjr@schwartzinvest.com Source: Schwartz Investment Counsel, Inc.

http://www.cnbc.com/2018/01/03/business-wire-adviser-to-ave-maria-mutual-funds-announces-portfolio-manager-promotions.html

Sweden, Finland to renew fierce ice hockey rivalry

STOCKHOLM (Reuters) - The rivalry between Sweden and Finland in men’s ice hockey burns with an incredible intensity, and the Nordic neighbors are set to ignite their feud once again in the group stage at the Pyeongchang Olympics. The Swedes have twice won the Olympic gold medal, first in 1994 and famously beating their bitter rivals 3-2 in the 2006 final in Turin. No Finnish hockey fan needs reminding that their team has never won the Olympic tournament. “For us Swedes, we just cannot lose to Finland - that would never work,” Sweden’s two-time Olympic champion Peter Forsberg told Reuters. “It’s powerful,” explains Hakan Loob, who was a team mate of Forsberg’s when Sweden won gold at Lillehammer in 1994, and the two are set to pair up again as experts for Eurosport’s hockey broadcasts in Sweden during the Games. “A long time ago, the Finns saw us as the big brother and felt sorry for themselves, but recently they have become very good, so now it’s a more even rivalry,” Loob said. For the Finns, it is no different. “Of course you want to win all games, but there’s a special atmosphere every time you play Sweden,” current Finland general manager and former player Jere Lehtinen said. “When I played those games it was always a little more physical on the ice, to show you wanted to win. Those were special games.” SEMI-FINAL DEFEAT The two sides meet in the final qualifying game in group C on February 18, with the Finns determined to avenge their semi-final defeat in Sochi four years ago when they ended up with the bronze medal and the Swedes went one better by winning silver. The historical roots of the Swedish-Finnish rivalry are long and deep, with Finland part of Sweden for almost 700 years until it became an autonomous part of Russia for more than a century, eventually declaring independence in 1917. The two countries share a border and Swedish is still one of Finland’s official languages, but the relationship is not without its problems, and never is this more apparent than when the two sides clash on the ice. The players Reuters spoke to all recall the rivalry beginning for them while they were still in the junior ranks, continuing through their international careers and even onto the rinks of North America, where most of them plied their trade. “There were good rivalries in the NHL against players like Forsberg and (Nicklas) Lidstrom - good, honest battles,” remembers Lehtinen, who spent 14 seasons with the Dallas Stars. “Forsberg was tough and he came hard at you, but in the same way he was honest, and you could go hard at him too. It was a tough rivalry.” The creative force at the heart of the Swedish team, Forsberg was often given a hard time by the Finns, not least when the two countries clashed. “I always had to play against Saku Koivu, Teemu Selanne, Jere Lehtinen and a few other big players. Every single tournament you knew you’d have to play against them, and you knew it was going to be tough,” Forsberg said. “But there was something, we just had to win.” SHOCK VICTORY With Forsberg in the team the Swedes secured their fair share of victories but as time went on Finland improved, even pulling off a shock victory against the then-Olympic champions in the World Championship final in Stockholm in 1995. For Lehtinen, who played in that winning side, the victory was a watershed in the rivalry. “It changed things, because Sweden had been beating us most of the time, so that was a big moment for us. There was a lot of Finnish fans there too, so it was very loud when we took the lead,” the 44-year-old said. The scenes of joy were not limited to Finnish players and fans in Stockholm’s Globen arena. “I was a young boy back then, and it was a huge thing at that time, it was an unbelievable victory for the whole nation,” defenseman Sami Lepisto, who will be a key part of Finland’s team in Pyeongchang, told Reuters. Lepisto went on to be in the Finnish squad that hammered the Swedes 6-1 in the 2011 World Championship final, and he now hopes they can improve their Olympic record against the Swedes and finally make it to the top step of the podium. “Of course, we have those two World Championship finals that we won, but at the Olympics it’s been mainly Sweden that has been winning those battles,” he said, adding that he will be keeping an eye on the Swedes when the knockout stages begin. “We feel like we have a good team and a good chance to win, and I think we have a strong chance - just like Sweden.” Reporting by Philip O'Connor, editing by Ed Osmond

https://www.reuters.com/article/us-olympics-2018-iceh-swedenfinland/sweden-finland-to-renew-fierce-ice-hockey-rivalry-idUSKBN1F81J0

Morning News Call - India, January 10

To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 10:30 am: Kotak Mahindra Asset Management Company MD Harsha Upadhyaya and other senior management to brief media in Mumbai. 11:30 am: South Indian Bank post-earnings analyst conference call in Mumbai. 12:00 pm: Department of Telecommunications to meet TRAI in New Delhi. 12:15 pm: Amber Enterprises India to brief media about its upcoming IPO in Mumbai. 2:30 pm: Transport Minister Nitin Gadkari in bilateral talks with Iranian Minister of Roads Abas Akhoundi in New Delhi . 3:00 pm: Transport Minister Nitin Gadkari at signing of MoU between Ministry of Road Transport & Highways and Transport for London in New Delhi. 4:30 pm: Prime Minister Narendra Modi, Finance Minister Arun Jaitley, Transport Minister Nitin Gadkari and NITI Aayog CEO Amitabh Kant at Economic Policy: The Road Ahead meeting in New Delhi.. GMF: LIVECHAT-CHARTING FX Take a look at the FX charts with Reuters technical analyst Martin Miller at 04:30 pm IST. To join the conversation, click on the link: here INDIA TOP NEWS •Infosys signs agreement with U.S. IRS; sees lower tax rate Indian software services company Infosys Ltd on Tuesday said it has signed an agreement with the U.S. Internal Revenue Service (IRS), resulting in an effective tax rate of about 100 basis points lower going forward. •AirAsia CEO says India unit explores IPO Malaysia-based carrier AirAsia Bhd's India unit is looking at a potential initial public offering, the group's chief executive, Tony Fernandes said. •India wants GAIL to focus on building gas pipelines - minister India wants state-run utility GAIL (India) Ltd to focus on laying gas pipelines, the oil minister said on Tuesday after reports about government plans to spin off its marketing operations. GLOBAL TOP NEWS •U.S. hails Korea talks, despite North's rejection of denuclearisation North and South Korea held their first talks in over two years on Tuesday, which Washington welcomed as a first step to solving the North Korean nuclear weapons crisis, even though Pyongyang said those were aimed only at the United States and not up for discussion. •Trump calls for two-step process on immigration, pushes bipartisan deal U.S. President Donald Trump said on Tuesday he would back a two-step immigration approach that initially protects young "Dreamer" immigrants from deportation if it includes immigration restrictions and provisions for a border wall with Mexico that Democrats have opposed. •Toyota, Mazda to build $1.6 bln plant in Alabama -sources Alabama will be the site of a new $1.6 billion Toyota Motor Corp and Mazda Motor Corp auto plant, a victory for President Donald Trump who had prodded manufacturers to build new U.S. facilities and threatened tariffs on foreign production, sources said on Tuesday. LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were trading at 10,645.50, trading up 0.06 pct from its previous close. The Indian rupee will likely trade little changed against the dollar in early session, as higher local equities are expected to offset rising global crude oil prices and U.S. Treasury yields that boosted greenback demand. Indian government bonds are likely to fall tracking overnight gains in U.S. Treasury yields and crude oil prices. The yield on the benchmark 6.79 pct bond maturing in 2027 is likely to trade in a 7.35 pct-7.40 pct band today. GLOBAL MARKETS • Wall Street's major indexes extended the New Year rally to close at record levels on Tuesday on investor optimism ahead of quarterly earnings reports and hopes for easing tensions with North Korea. • Asian shares hovered just below their 2007 record peak, supported by expectations of solid corporate earnings on the back of synchronised growth in the global economy. • The dollar edged up in early Asian trade, bolstered by higher U.S. Treasury yields but still constrained against the yen after the Bank of Japan's move to trim its purchases of Japanese government bonds triggered tapering fears. • Yields on the 10-year U.S. Treasury note reached a 10-month high on Tuesday, after the Bank of Japan said it will trim its purchases of Japanese government bonds and U.S. corporate debt hit the market. • Oil prices hit their highest levels since 2014 due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating. • Gold prices edged lower for a second session, as a rally in equities and a surge in U.S. treasury yields dented bullion's safe-haven appeal. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 63.58/63.61 January 9 -$47.59mln $207.82mln 10-yr bond yield 7.32 pct Month-to-date $406.05mln $300.47mln Year-to-date $406.05mln $300.47mln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 63.67 Indian rupees) (Compiled by Pathikrit Bandyopadhyay in Bengaluru)

https://www.reuters.com/article/india-morningcall/morning-news-call-india-january-10-idUSL4N1P51CJ

Oil prices hold near 2015 highs, but doubts over rally emerge

January 5, 2018 / 2:01 AM / Updated 18 minutes ago Oil slips away from 2015 highs as doubts emerge over rally Henning Gloystein 3 Min Read SINGAPORE (Reuters) - Oil prices fell on Friday, dropping away from highs last seen in 2015, as soaring U.S. production undermined a 10-percent rally from lows hit in December that was driven by tightening supply and political tensions in OPEC member Iran. FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma, U.S., September 15, 2015. REUTERS/Nick Oxford/File Photo U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $61.81 a barrel at 0750 GMT. That was 20 cents, or 0.3 percent, below their last close. WTI hit a $62.21 the previous day, which was its strongest since May, 2015. Brent crude futures LCOc1 were at $67.88 a barrel, 19 cents, or 0.3 percent, below their last settlement. Brent hit $68.27 the day before, also the highest since May, 2015. Traders said political tensions in Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), had pushed prices higher. “The protests in Iran add more fuel to the already bullish oil market mood,” said Norbert Ruecker, head of commodity research at Swiss bank Julius Baer. Oil prices have received general support from production cuts led by OPEC and by Russia, which started in January last year and are set to last through 2018, as well as from strong economic growth and financial markets. [MKTS/GLOB] That has helped tighten markets. U.S. commercial crude inventories C-STK-T-EIA fell by 7.4 million barrels in the week to Dec. 29, to 424.46 million barrels, according to data from the Energy Information Administration (EIA). That is down 20 percent from their historic peaks last March and close to the five-year average of 420 million barrels. CAN THE BULL-RUN LAST? Yet given Iran’s oil production has not been affected by the unrest, and that U.S. output C-OUT-T-EIA will likely break through 10 million barrels per day (bpd) soon, a level so far only reached by Saudi Arabia and Russia, doubts are emerging whether the bull-run can last. U.S. bank Jefferies said the oil price “upside from here is not obvious to us”, although it added that “we believe the oil market will remain undersupplied through 2018”. Ruecker of Julius Baer said crude prices above $60 per barrel project an “overly rosy picture (as) oil production disruptions (in Iran) remain a very distant threat ... disruptions in the North Sea have been removed ... (and) U.S. oil production surpassed the 2015 highs in October and is set to climb to historic highs this year.” Lukman Otunuga, analyst at futures brokerage FXTM, struck a similarly cautious tone. “Oil started the New Year on an incredibly bullish note ... in part due to ongoing tensions in Iran ... (and) over OPEC’s supply cut rebalancing the markets,” he said. “While the current momentum suggests that further upside is on the cards, it must be kept in mind that U.S. shale remains a threat to higher oil prices.” Reporting by Henning Gloystein; Editing by Christian Schmollinger and Joseph Radford

https://uk.reuters.com/article/uk-global-oil/oil-prices-hold-near-2015-highs-but-doubts-over-rally-emerge-idUKKBN1EU06U

Energizer to buy Spectrum Brands unit for $2 bln

(Reuters) - Battery maker Energizer Holdings Inc ( ENR.N ) said on Tuesday it would buy the battery and portable lighting business of Spectrum Brands ( SPB.N ) in a $2 billion cash deal, adding brands such as Rayovac and Varta to its lineup. The deal comes two weeks after Spectrum said it was exploring strategic options, including a sale, for its global batteries and appliances businesses. Spectrum said it was still “actively marketing” its appliances business, which includes brands such as George Foreman cookware and Remington grooming products. The deal will add heft to Energizer’s battery unit and give it more pricing power, while also expanding its international business. Shares of Energizer, known for the Energizer and Eveready batteries, were up 15 percent in early trading on Tuesday, despite regulatory concerns given the deal will significantly increase the company’s marketshare. Spectrum’s shares were up 3.6 percent. SunTrust analyst William Chappell said Energizer will control more than 40 percent of the U.S. market and over 85 percent of the total market following the deal, helping it gain from improved pricing and margins in the sector. “We believe having the category controlled by two rational players as a ‘functional duopoly’ should yield pricing and margin benefits for both companies for years to come.” The deal is expected to generate annual savings of $80 million to $100 million, and the combined company will have greater presence in EMEA and Latin America, Energizer said on a conference call. Spectrum’s battery and portable lighting business generated revenue of $866 million in 2017, accounting for 17 percent of the total revenue. The unit posted earnings before interest tax, depreciation and amortization (EBITDA) of $169 million. The sale will allow the company to focus on its remaining businesses - hardware, auto care and pet and gardening products. Spectrum said it expects to use proceeds to pay down debt, reinvest in its core businesses both organically and through bolt-on acquisitions, and repurchase shares. Barclays was the financial adviser to Energizer, while RBC Capital Markets advised Spectrum Brands. King & Spalding was legal counsel to Energizer, while Kirkland & Ellis LLP was the legal adviser for Spectrum Brands. The deal is expected to close before the end of this year, the companies said. Reporting by Munsif Vengattil and Sanjana Shivdas in Bengaluru; Editing by Saumyadeb Chakrabarty

https://www.reuters.com/article/us-spectrum-m-a-energizer/energizer-to-buy-spectrum-brands-unit-for-2-billion-idUSKBN1F517T

Kessler Topaz Meltzer & Check, LLP Announces Shareholder Lawsuit Filed Against GoPro, Inc.

RADNOR, Pa.--(BUSINESS WIRE)-- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against GoPro, Inc. (Nasdaq: GPRO) (“GoPro” or the “Company”) on behalf of purchasers of the Company’s securities between November 2, 2017 and January 5, 2018 , inclusive (the “Class Period”). GoPro shareholders who purchased securities during the Class Period may, no later than March 12, 2018, seek to be appointed as a lead plaintiff representative of the class. Shareholders who wish to discuss this action or request additional information about the lawsuit are encouraged to contact Kessler Topaz Meltzer & Check attorneys D. Seamus Kaskela or Adrienne Bell at (888) 299-7706 or online at: https://www.ktmc.com/new-cases/gopro-inc-2018#join GoPro develops and sells mountable and wearable cameras and accessories. During the Class Period, GoPro’s product offerings included “Karma,” a premium remote controlled drone that retailed for $799. On November 1, 2017, GoPro held an earnings conference call with investors and financial analysts to discuss the Company’s financial results. During that call, GoPro’s Chief Executive Officer (“CEO”) represented to investors that “the consumer feedback to Karma specifically, actual owners of Karma has been quite good, and so we’re feeling really good about our prospects in the future there.” The shareholder class action complaint alleges that, throughout the Class Period, GoPro and certain of its senior executive officers made false and misleading statements and/or failed to disclose that: (i) the market prospects for Karma were untenable due to margin challenges in an extremely competitive aerial market and a hostile regulatory environment in Europe and the United States; and (ii) as a result, defendants’ public statements were materially false and misleading at all relevant times. On January 8, 2018, GoPro disclosed, among other things: (i) that it was reducing its global workforce by approximately 20%; (ii) that, due to “margin challenges in an extremely competitive aerial market,” the Company would be exiting the aerial market after selling its remaining Karma inventory; and (iii) that the Company would incur an estimated $23 – 33 million in restructuring charges. Following this news, shares of GoPro’s stock fell $0.96 per share, or over 12.7%, to close on January 8, 2018 at $6.56 per share, on heavy trading volume. GoPro shareholders may, no later than March 12, 2018 , seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. about Kessler Topaz Meltzer & Check, please visit www.ktmc.com . View source version on businesswire.com : http://www.businesswire.com/news/home/20180116005082/en/ Kessler Topaz Meltzer & Check, LLP Darren J. Check, Esq. D. Seamus Kaskela, Esq. Adrienne Bell, Esq. 280 King of Prussia Road Radnor, PA 19087 (888) 299-7706 (610) 667-7706 info@ktmc.com Source: Kessler Topaz Meltzer & Check, LLP

http://www.cnbc.com/2018/01/16/business-wire-kessler-topaz-meltzer-check-llp-announces-shareholder-lawsuit-filed-against-gopro-inc.html

Superior Gold Inc. Announces Fourth Quarter and Full Year 2017 Production Results

FULL YEAR PRODUCTION OF 80,143 OUNCES EXCEEDED GUIDANCE (In US Dollars unless otherwise stated) TORONTO, Jan. 15, 2018 /PRNewswire/ - Superior Gold Inc. ("Superior Gold" or "The Company") (TSX.V:SGI) is pleased to announce production results for the fourth quarter and full year 2017 from the Company's 100%-owned Plutonic Gold Operations, located 800 kilometres north east of Perth, in Western Australia. FOURTH QUARTER HIGHLIGHTS Gold Produced was 20,197 ounces Gold Sold was 20,029 ounces FULL YEAR 2017 HIGHLIGHTS Gold Produced was 80,143 ounces exceeding guidance of 75-80,000 ounces Gold Sold was 82,019 ounces ADDITIONAL FOURTH QUARTER HIGHLIGHTS Since acquiring the Plutonic Mine in October 2016, the Company has produced a total of 103,137 ounces of gold Mining of the Hermes open pit project commenced on schedule in December Released underground drill results of up to 25.2g Au/t over 10.15 metres 36.5g Au/t over 4.00 metres and 192.0g Au/t over 0.60 metres Production details for the fourth quarter and full year 2017, are summarized in the table below. Three month period ended December 31, 2017 Twelve month period ended December 31, 2017 Gold Produced (ounces) 20,197 80,143 Gold Sold (ounces) 20,029 82,019 Chris Bradbrook, President and CEO of Superior Gold stated: "2017 was a year of significant achievements and we are extremely pleased to announce such strong production results, exceeding guidance, for our first full year of operation. We have now operated the Plutonic Gold Mine for five consecutive quarters and have produced over 100,000 ounces of gold. Mining has commenced, on schedule, at our Hermes development project. Initial ore was processed before year end and commercial production is anticipated during the first quarter of 2018. The contribution of the mineralization from Hermes is expected to allow us to reach our objective of increasing annual production to more than 100,000 ounces of gold." The Company plans to release throughput, grade and recovery information for the fourth quarter and full year 2017, along with 2018 guidance, in the near future and will release complete financial and operating results for both periods in March. Qualified Person Scientific and technical information in this news release has been reviewed and approved by Pascal Blampain, who is a member of the AusIMM and the Australian Institute of Geoscientists (AIG) and a "qualified person" within the meaning of NI 43-101. Mr. Blampain is an employee of the Company and serves as Chief Geologist. About Superior Gold Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold Operations include the Plutonic Gold Mine, which is a producing underground operation with a central mill, the Hermes open pit development project and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold Operations and building an intermediate gold producer with superior returns for shareholders. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and statements regarding exploration results and exploration plans. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's prospectus dated February 15, 2017 filed on SEDAR at www.sedar.com for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Superior Gold

http://www.cnbc.com/2018/01/15/pr-newswire-superior-gold-inc-announces-fourth-quarter-and-full-year-2017-production-results.html

Emerging economies free of 'original sin' but companies still unforgiven

January 21, 2018 / 2:35 PM / Updated 43 minutes ago Emerging economies free of 'original sin' but companies still unforgiven Sujata Rao 6 Min Read LONDON (Reuters) - Most developing nations have been absolved of the “original sin” that blocked them using their own currencies to raise money abroad, but their companies’ sins have still not been forgiven, as the huge debt they have racked up in “hard” currency attests. Original sin, which is how economists Barry Eichengreen and Ricardo Hausmann described the dilemma for emerging market (EM) economies that were unable to borrow abroad in their own currencies, is now largely a thing of the past for sovereign debt. Corporate borrowing in local currencies has not taken off, however. For one thing, much of the debt is not easily accessible to foreign investors; for another, borrowing in dollars, pounds or euros is usually cheaper, especially since the crash in Western interest rates after 2009. Above all, investors see these securities as inherently riskier than government debt. “Sovereigns can issue debt in hard currency or local currency, but that’s a luxury which is not there yet for most corporates,” said Abhishek Kumar, lead portfolio manager for emerging markets at State Street Global Advisors. Outstanding emerging corporate debt denominated in hard currencies has doubled since 2007 to $7 trillion, according to the financial industry body, the Institute of International Finance (IIF), nearly 7 times than EM governments’ at around $1.1 trillion. Governments are now using currencies such as the rand and rouble for more than 80 percent of their borrowing. Hard currency movements still affect the price at which they borrow but their vulnerability to exchange rate swings is far less than it was. The shift towards greater acceptance of emerging currencies was highlighted recently when several central banks confirmed they now hold China’s yuan in their forex reserves. Like emerging markets economies that suffered currency crises in the 1990s, companies risk a strengthening in the dollar or euro against the currencies in which they earn revenues, which can make debt repayment significantly costlier. Also, with U.S. interest rates rising, investors could demand higher and higher yields to “roll over” maturing debt. The IIF and the Bank for International Settlements have repeatedly warned of these risks. Earlier this month, the IIF said the borrowing binge of the past decade meant large amounts of hard currency debt would need to be rolled over in coming years, with around $450 billion due for repayment in 2018. “Rising global interest rates will add to worries about the debt servicing capacity of highly indebted firms and governments,” it said. Emerging market companies also have up to $30 trillion in domestic currency debt but this is mostly in bank loans and almost all is held locally. Most bonds issued in domestic currencies are not eligible for processing through Euroclear, the international post-trade services system which increases convenience and transparency. GROWING MARKET Prospects for emerging currency corporate bonds looked bright in 2014, when Bank of America Merrill Lynch launched a special index with around 250 “Euroclearable” securities. But more than three years later, the index is still not tracked by any passive funds, according to the ICE exchange, which took over BAML indices in 2017. JPMorgan, which runs the most widely used emerging debt indexes, still does not have a local corporate bond benchmark. One of the few active funds in the sector is run by Brent David, a portfolio manager at BlueBay Asset Management. He says the market is improving and estimates up to $500 billion of corporate local bonds are now Euroclearable, twice the amount in 2014. While that’s less than a tenth of outstanding bonds, he expects the number will rise as Chinese and Indian firms issue yuan and rupee debt in Hong Kong, Singapore or London. “More and more corporates are feeling the need to shift to issuing in their own currencies. They are trying to diversify their investor base, and to tap foreign investors they have to issue in Euroclearable format,” David said. For David, a key attraction is that the BAML index’s average yield is roughly two percentage points above JPMorgan’s GBI-EM sovereign debt benchmark, after taking into account its shorter duration. It also offers exposure to the Indian and Chinese currencies, which are not part of the GBI-EM, he said. ILLIQUID For the market to really take off, however, foreign funds need bigger sizes and trading volumes, which will be difficult to achieve without developing pension and asset management industries within emerging markets. Not all companies will be keen to undertake the disclosures and operational complexities that Euroclear involves. Even when bonds are Euroclearable, investors are wary. Russian lender Sberbank estimates foreigners own less than 5 percent of the corporate rouble bond market, which has over $100 billion outstanding and has been Euroclearable since 2013. In contrast, they hold a third of rouble government debt. “You have to weigh up: do you get compensated enough if you go into a non-sovereign instrument?” said Paul Greer, assistant portfolio manager at Fidelity International. “With local corporate bonds, you get a small amount of spread over the sovereign curve but you have to deal with FX risk, credit risk and interest rate risk.” Irresistibly cheap global borrowing costs may also have hampered the market’s development - dollar-denominated emerging corporate bonds yield an average 5.2 percent, according to the CEMBI Global index. That’s well below what firms from Brazil or India would pay to borrow in their own currencies. That’s an incentive to keep borrowing in hard currency, said Guy Stear, co-head of fixed income research at Societe Generale. “Companies might think ‘I am taking risks here in terms of original sin, but on the other hand I am happy today because my overall funding cost is low’,” Stear said. Reporting by Sujata Rao; Graphic by Ritvik Carvalho; Editing by Sonya Hepinstall

https://uk.reuters.com/article/uk-emerging-borrowing-sin-analysis/emerging-economies-free-of-original-sin-but-companies-still-unforgiven-idUKKBN1FA0PY

3D Systems and Stryker Team Up to Advance Personalized Surgery

ROCK HILL, S.C., Jan. 17, 2018 /PRNewswire/ -- Today, 3D Systems (NYSE: DDD) and Stryker announced an exclusive distribution partnership for VSP ® (Virtual Surgical Planning) and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals – saving both surgeons and patients hours in the operating room. 1 Established by 3D Systems, VSP technology received FDA market clearance as a service-based approach to personalized surgery, combining expertise in medical imaging, surgical simulation and 3D printing. The surgeon initiates the process, bringing their clinical knowledge and desired surgical plan to an online web meeting with a 3D Systems biomedical engineer to simulate and plan the surgical procedure. The outcome is a digital plan that is transferred to the operating room via accurate 3D printed patient-specific models, guides and templates. "Collaborating with surgeons to deliver the best possible patient outcomes is of the utmost importance to our company," said Kevin McAlea, executive vice president, general manager, metals and healthcare, 3D Systems. "With the advancement of 3D printing, combined with the surgeon's ability to use our Virtual Surgical Planning and anatomical modeling technologies, a patient's life can be forever changed. It provides surgeons with the ability to have a clear 3D visualization of a patient's anatomy and to develop a customized surgical plan prior to even entering the operating room." As a pioneer in the personalized medicine space, 3D Systems has provided VSP or anatomical services in more than 100,000 cases. Stryker's Craniomaxillofacial business specializes in providing patient-specific options and innovative solutions that help drive efficiencies in surgical suites. The combination of Stryker's specialized sales force with 3D Systems' cutting-edge 3D printing and patient-specific solutions positions both companies to provide a superior level of service to healthcare professionals who use these revolutionary products. "This partnership allows us to better support the rapidly evolving needs of our customers and accelerate innovation in the area of personalized medicine," stated David Mercado, vice president and general manager, Stryker. "We are very pleased that 3D Systems chose us as their long-term collaborator in this space." "We have a history of achieving positive patient outcomes working with Stryker," said Katie Weimer, vice president, medical devices, 3D Systems. "I am so proud to partner with a world leader in medical technologies to deliver our innovative solutions – helping surgeons change the lives of their patients." The agreement between 3D Systems and Stryker is specific to the United States, Canada, Europe and Australia. For more information on these services, please visit the 3D Systems or Stryker websites. 1 Sink J, Hamlar D, Kademani D, Khariwala SS: Computer-aided stereolithography for presurgical planning in fibula free tissue reconstruction of the mandible. J Reconstr Microsurg 28:395-404, 2012. Forward-Looking Statements Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management's beliefs, assumptions and current expectations and may include comments as to the company's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company's periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise. About Stryker Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com . About 3D Systems 3D Systems provides comprehensive 3D products and services, including 3D printers, print materials, on demand manufacturing services and digital design tools. Its ecosystem supports advanced applications from the product design shop to the factory floor to the operating room. 3D Systems' precision healthcare capabilities include simulation, Virtual Surgical Planning, and printing of medical and dental devices as well as patient-specific surgical instruments. As the originator of 3D printing and a shaper of future 3D solutions, 3D Systems has spent its 30-year history enabling professionals and companies to optimize their designs, transform their workflows, bring innovative products to market and drive new business models. More information on the company is available at www.3dsystems.com . View original content with multimedia: http://www.prnewswire.com/news-releases/3d-systems-and-stryker-team-up-to-advance-personalized-surgery-300583861.html SOURCE 3D Systems

http://www.cnbc.com/2018/01/17/pr-newswire-3d-systems-and-stryker-team-up-to-advance-personalized-surgery.html

Sotherly Hotels Inc. Announces Quarterly Dividends

WILLIAMSBURG, Va., Jan. 30, 2018 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ:SOHO) (the “Company”) today announced that its Board of Directors has authorized, and the Company has declared, a quarterly cash dividend of $0.115 per common share of beneficial interest. The quarterly dividend will be paid on April 11, 2018 to shareholders of record as of March 15, 2018. The common dividend represents an annualized yield of approximately 7.4 percent based on the closing price of the Company’s common shares on January 26, 2018. The Board of Directors also authorized, and the Company has declared, a regular quarterly cash dividend of $0.50 per share of beneficial interest of the Company’s 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock. The Series B preferred dividend will be paid on April 16, 2018 to shareholders of record as of March 29, 2018. The Board of Directors also authorized, and the Company has declared, a regular quarterly cash dividend of $0.4921875 per share of beneficial interest of the Company’s 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock. The Series C preferred dividend will be paid on April 16, 2018 to shareholders of record as of March 29, 2018. About Sotherly Hotels Inc. Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company’s portfolio consists of investments in eleven hotel properties, comprising 2,838 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel. Most of the Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Marriott International, Inc. brands. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com . Contact at the Company: Scott Kucinski Sotherly Hotels Inc. 410 West Francis Street Williamsburg, Virginia 23185 (757) 229-5648 Source:Sotherly Hotels Inc.

http://www.cnbc.com/2018/01/30/globe-newswire-sotherly-hotels-inc-announces-quarterly-dividends.html

U.S. hails Olympics security plan; opposes North Korea military parade

January 31, 2018 / 9:33 PM / Updated 13 minutes ago U.S. hails Olympics security plan; opposes North Korea military parade Reuters Staff 3 Min Read WASHINGTON (Reuters) - The U.S. State Department voiced displeasure on Wednesday over North Korean plans to stage a military parade on the eve of the Winter Olympics but assured Americans going to the games that South Korea’s security plan considered all contingencies. “Any citizen of the United States travelling to the 2018 Winter Games can rest assured that the Republic of Korea has a comprehensive security system in place and that the United States government is supporting our ally,” Under Secretary of State Steve Goldstein told a briefing. The Winter Games begin on Feb. 9 in Pyeongchang, South Korea, at a time of high tensions over North Korea’s nuclear weapons and missile programs. After talks to defuse tensions, North and South Korea agreed to field a unified women’s ice hockey team and to march their athletes under one flag at the opening ceremony. Despite its decision to send athletes, North Korea announced it would celebrate the founding of its military on Feb. 8, an event generally marked with a large military parade displaying weapons such as missile launchers. “While we would prefer that this parade not occur on Feb. 8, it is our hope, and I know the hope of South Korea, that the North Koreans ... will join with all the nations of the world in celebrating the athletes,” Goldstein said. The North Korea monitoring group 38 North said in an analysis on Wednesday that satellite photos showed some 12,000 troops and 110 artillery pieces, tanks and armoured vehicles practicing for a parade. As of Jan. 28 the images showed no signs of ballistic missile launchers, 38 North said, but those vehicles usually only arrive a week or so before the parade. Shelters for missile launchers and other heavy equipment were erected several weeks ago and some may already be hidden from view inside, it said. U.S. officials said the State Department’s Diplomatic Security Service was helping South Korean authorities with security, a role it has undertaken at every Olympics since the 1976 Montreal games. Richard Colon, a Diplomatic Security official, said the service would have about 100 personnel in South Korea, working from the U.S. Embassy and the Olympics venues. They are assisting some 275 athletes and as many as 60,000 U.S. citizens. U.S. security officials said they were unaware of any specific threats and were confident the South Koreans would provide a secure Olympics. They noted Seoul hosted the 2014 Asian games and the 2002 FIFA world cup. “We’re only less than a hundred miles (160 km) from North Korea,” said Michael Evanoff, the assistant secretary for diplomatic security. “So we’ve planned for all contingencies.” Reporting by David Alexander; Editing by David Gregorio and James Dalgleish

https://in.reuters.com/article/olympics-2018-usa-security/u-s-hails-olympics-security-plan-opposes-north-korea-military-parade-idINKBN1FK358