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XL Catlin Extends Global Mergers & Acquisitions Insurance Capacity

LONDON and NEW YORK, May 16, 2018 /PRNewswire/ -- XL Catlin today announced that it has extended its global Mergers and Acquisitions (M&A) capacity by 20 percent to USD 60 million, in order to better address the transactional liability insurance needs of clients, brokers and other deal professionals. Commenting, Dan Kumpf, Chief Underwriting Officer, Global Professional Lines said: "XL Catlin views M&A insurance as a vital tool in driving global M&A deals; the value of which is expected to exceed USD 3 trillion in 2018. We expect the expansion of the M&A transactional risk insurance market to continue and we remain committed to investing in key talent and supporting deal professionals and their brokers across the world." XL Catlin's growing team of underwriters in London and New York has the capability to underwrite deals globally and offer coverage in the following core areas: Representation and Warranty Insurance, also known as Warranty and Indemnity (Buyer-side and Seller-side) Tax Liability, Tax Opinion and other Contingent Tax Insurance Non-Tax Contingent Liability Insurance "In today's global business environment we want to ensure that our clients have access to the appropriate capacity. The additional capacity reflects our ongoing commitment to the growing needs of our clients around the world," explained Joseph Laws, Head of M&A Insurance, North America who co-leads XL Catlin's M&A practice alongside Michael McGowan, Head of M&A Insurance, North America. XL Catlin offers M&A insurance for various risks associated with mergers and acquisitions, divestitures, spinoffs, private equity investments and other commercial transactions. The M&A insurance group provides bespoke coverage and unique risk shifting arrangements that can help facilitate transactions and add value for all parties. About XL Catlin's Insurance Operations XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com . About XL Catlin XL Catlin is the global brand used by XL Group Ltd's (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com . View original content: http://www.prnewswire.com/news-releases/xl-catlin-extends-global-mergers--acquisitions-insurance-capacity-300649050.html SOURCE XL Catlin

http://www.cnbc.com/2018/05/16/pr-newswire-xl-catlin-extends-global-mergers-acquisitions-insurance-capacity.html

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Momo to Report First Quarter 2018 Results on May 29, 2018

BEIJING, May 14, 2018 /PRNewswire/ -- Momo Inc. (Nasdaq: MOMO) ("Momo" or the "Company"), one of China's leading mobile social networking platforms, today announced that it will release its unaudited financial results for the first quarter ended March 31, 2018 before U.S. markets open on Tuesday, May 29, 2018. Momo's management will host an earnings conference call on Tuesday, May 29, 2018 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on the same day). Dial-in details for the earnings conference call are as follows: International: +65-6713-5090 U.S. Toll Free: +1-866-519-4004 Hong Kong Toll Free: 800-906601 Mainland China: 4006-208038 Passcode: Momo A telephone replay of the call will be available after the conclusion of the conference call through 8:00 a.m. U.S. Eastern Time, June 6, 2018. The dial-in details for the replay are as follows: International: +61-2-8199-0299 U.S. Toll Free: +1-855-452-5696 Passcode: 9188258 Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Momo's website at http://ir.immomo.com . About Momo Inc. Momo is one of China's leading mobile-based social and entertainment platforms. We enable users to establish and expand social relationships based on location, interests and a variety of recreational activities including live videos, short videos, social games as well as other video- and audio-based interactive experiences. Our platform includes Momo mobile application, Tantan mobile application, and a variety of related features, functionalities, tools and services that we provide to users, customers and platform partners. We aim to offer our users an authentic social experience by encouraging them to provide detailed personal information on Momo. Leveraging our social interest graph engine and our analysis of user behavior data, we are able to provide users a customized experience based on their social preferences and needs. Momo users can maintain and strengthen their relationships through our private and group communication tools, content creation and sharing functions, recreational activities such as live shows and gaming, as well as the offline social activities promoted on our platform. For more information, please visit http://ir.immomo.com . For investor and media inquiries, please contact: Momo Inc. Momo Investor Relations Ms. Ashley Jing Phone: +86-10-5731-0538 Email: ir@immomo.com Christensen In China Mr. Christian Arnell Phone: +86-10-5900-1548 E-mail: carnell@christensenir.com In US Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: lbergkamp@christensenir.com View original content: http://www.prnewswire.com/news-releases/momo-to-report-first-quarter-2018-results-on-may-29-2018-300647496.html SOURCE Momo Inc.

http://www.cnbc.com/2018/05/14/pr-newswire-momo-to-report-first-quarter-2018-results-on-may-29-2018.html

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Takata Airbag Special Master/Trustee Announces The Launch Of The Claim Process For Personal Injuries Or Wrongful Death

BOSTON, May 30, 2018 /PRNewswire/ -- The following statement is being issued by Professor Eric D. Green, Special Master for the Department of Justice's Takata Airbag Individual Restitution Fund and the Trustee of the Tort Compensation Trust Fund Created in the Takata Bankruptcy Cases. Takata Defective Airbag Claims Professor Eric D. Green, the Court-Appointed Special Master of the Department of Justice's $125 million Takata Individual Restitution Fund ("IRF") and the Court-Appointed Trustee of the Takata Airbag Tort Compensation Trust Fund ("TATCTF") created in the Takata bankruptcy case announced today that he has launched the compensation program for individuals who suffered personal injury or wrongful death caused by the rupture or aggressive deployment of a Takata phase-stabilized ammonium nitrate airbag inflator (a "Takata Airbag Inflator Defect"). The TATCTF has about $140 million. There are three types of claims that can be brought by individuals who suffered injury or wrongful death caused by a Takata Airbag Inflator Defect: (i) an "IRF Claim" for compensation from the IRF, the personal injury and wrongful death restitution fund overseen by the Special Master and established under the Restitution Order entered by the United States District Court for the Eastern District of Michigan (the "District Court") on February 27, 2017 in connection with the Department of Justice's criminal case against Takata, U.S. v. Takata Corporation, Case No. 16-cr-20810 (E.D. Mich.); (ii) a "Trust Claim" against Takata, which must be resolved through the TATCTF, overseen by the Trustee and established in connection with Takata's Chapter 11 Plan of Reorganization (the "Bankruptcy Plan") in the Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"), and (iii) a "POEM Claim" against a Participating Original Equipment Manufacturer (a "POEM;" presently the only POEM is Honda/Acura), which must be resolved pursuant to the Bankruptcy Plan through the TATCTF overseen by the Trustee. Each of these three types of claims has its own eligibility requirements and each claim type covers only physical injuries and wrongful death resulting from a Takata Airbag Inflator Defect. Claims related to injuries or wrongful death caused by other airbag components -- such as airbag failure to deploy, spontaneous airbag deployment, crash injuries unrelated to the inflator, or economic losses unrelated to physical injuries or death -- are not covered by the three types of claims described above. Individuals can now access the claim forms, which include detailed instructions regarding how to file a claim, on the IRF website, www.takataspecialmaster.com , or on the TATCTF website, www.TakataAirbagInjuryTrust.com . Oversight of the Claims Process and Resources for More Information Professor Green was appointed by the District Court to serve as the Special Master overseeing IRF Claims and was appointed by the Bankruptcy Court to serve as the Trustee overseeing Trust Claims and POEM Claims. For more information about eligibility requirements, filing deadlines and how to file a claim, please visit www.takataspecialmaster.com , www.TakataAirbagInjuryTrust.com , email Questions@TakataAirbagInjuryTrust.com , or call us toll-free at (888) 215-9544. SOURCE: Takata Special Master/Trustee View original content: http://www.prnewswire.com/news-releases/takata-airbag-special-mastertrustee-announces-the-launch-of-the-claim-process-for-personal-injuries-or-wrongful-death-300654895.html SOURCE Takata Special Master/Trustee

http://www.cnbc.com/2018/05/30/pr-newswire-takata-airbag-special-mastertrustee-announces-the-launch-of-the-claim-process-for-personal-injuries-or-wrongful-death.html

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Reuters Lifestyle & Entertainment, May 3, 1500 GMT/1100 ET

Thursday, May 3 - Contact info for Reuters Entertainment & Lifestyle editors Jill Serjeant in New York +1 646 223 5968 ENTERTAINMENT Britain's Kew Gardens reopens vast glasshouse after extensive works LONDON - With 15,000 new panes of glass, Britain's Royal Botanical Gardens in Kew will reopen its famed Temperate House on Saturday after a five-year restoration that cost 41 million pounds ($56 million). (BRITAIN-KEW/ (PIX, TV), moved, 160 words) LIFESTYLE Bill Cosby's wife slams prosecutor, accusers for husband's guilty verdict Bill Cosby's wife of more than 50 years jumped to his defense on Thursday, blaming his sexual-assault conviction last week on a corrupt prosecutor, a pliant press and a lying accuser that she said led to a false verdict and stirred a lynch mob against him.(PEOPLE-COSBY/WIFE (PIX), by Peter Szekely, moved, 404 words) Adidas sticks by Kanye West after slavery, Trump remarks BERLIN - Adidas remains committed to the Yeezy brand created by rapper Kanye West despite his comments describing slavery as a choice and praising U.S. President Donald Trump, the sportswear company said on Thursday. (ADIDAS-RESULTS/ (UPDATE 2, PIX), by Emma Thomasson, moved, 428 words) US pro bowler charged in attempted extortion of actor Kevin Hart LOS ANGELES - A professional bowler who enjoyed a bit part in a movie starring Kevin Hart was charged on Wednesday with attempting to extort the actor with a surreptitiously recorded video of the married comedian "with a woman," Los Angeles prosecutors said. (PEOPLE-KEVINHART/ (PIX, TV), moved, 237 words) U.S. teen praised for prom cheongsam after online dressing down BEIJING - A U.S. high school student accused of cultural appropriation for her Chinese-style prom dress is receiving support online from some of the very people her critics say she offended. (CHINA-USA/CULTURE (moved), moved, 249 words) Tequila boom rooted in traditional farming techniques TEQUILA - A growing thirst for tequila from New York to Tokyo has made the sale of the drink into a multibillion-dollar industry, but its production remains rooted in centuries-old methods of farming using hand tools and packs of mules. (MEXICO-TEQUILA/ (PIX), by Carlos Jasso, moved, 519 words)

https://www.reuters.com/article/lifestyle-entertainment-news-schedule-un/reuters-lifestyle-entertainment-may-3-1500-gmt-1100-et-idUSL3N1SA4XC

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Threats of flooding as Subtropical Storm Alberto drives inland

U.S. News Threats of flooding as Subtropical Storm Alberto drives inland Subtropical Storm Alberto made landfall near Laguna Beach in the Florida Panhandle on Monday afternoon before crawling inland. Forecasters warned that downpours from the storm raised the danger of flash flooding across several Southern states in coming hours and days. Between four and eight inches (10-25 centimeters) of rain could pummel Florida Panhandle, eastern and central Alabama, and western Georgia before the storm moves on. Published 16 Hours Ago The Associated Press Dan Anderson | AP People walk the beach as a subtropical storm makes landfall on Monday, May 28, 2018 in Okaloosa Island, Florida. Subtropical Storm Alberto rumbled inland Monday after its Memorial Day strike on the U.S. Gulf Coast, driving holiday weekend beachgoers away as heavy rains began pelting wide areas of the Southeast amid a rising flood threat. Forecasters warned that downpours from the vast system of swirling storm bands now raise the danger of flash flooding across several Southern states in coming hours and days. Alberto's ragged core made landfall near Laguna Beach in the Florida Panhandle on Monday afternoon before it began crawling inland. The National Hurricane Center in Miami said Alberto was centered at about 7 p.m. Monday near the community of DeFuniak Springs in the Florida Panhandle. With maximum sustained winds of 40 mph (65 kph), Alberto had begun weakening as it moved to the north at 10 mph (17 kph). Between four and eight inches (10-25 centimeters) of rain could pummel Florida Panhandle, eastern and central Alabama , and western Georgia before the storm moves on. Isolated deluges of 12 inches (30 centimeters) also were possible. Forecasters said Alberto could become a subtropical depression in coming hours as it treks northward. The system is then expected to spread rains over the Tennessee Valley on Tuesday and push later in the week into the Ohio Valley and Great Lakes region. Rough conditions were still whipping up big waves off the eastern and northern Gulf Coast by nightfall Monday. Authorities spent the day warning swimmers to keep out of the surf because of life-threatening swells and rip currents. As Alberto's center heads inland it is being deprived of the warm waters that fuel tropical weather systems, causing it to weaken, forecasters say. A subtropical storm like Alberto has a less defined and cooler center than a tropical storm, and its strongest winds are found farther from its center. Lifeguards posted red flags along the white sands of Pensacola Beach, where swimming and wading were banned. Meanwhile, the storm forced some Memorial Day tributes to be cancelled across Florida's Panhandle. Safety was the priority, but the decision was still a "heartbreaker," said Tom Rice, a 29-year-old Army veteran who leads the organizations that planned a ceremony Monday at Beal Memorial Cemetery in Fort Walton Beach. Some stragglers still made their way through the rain to pay tribute at the cemetery's Veterans Tribute Tower, however. Rice said American flags had been placed Saturday on the graves of all 1,700 veterans buried in the cemetery. "We got the flags out," Rice told the Northwest Florida Daily News as wind whipped a massive U.S. flag flying at half-staff. "That's what's important." Along the Florida Panhandle coast known for its pristine beaches, tourists vowed Alberto wouldn't dampen their vacations. Jason Powell sought to keep his children entertained with movies and TV until Alberto blows past his Florida vacation spot. "So far we've seen a lot of wind and the ocean is really high, covering up the entire beach," Powell said. "We're not letting it ruin our vacation." Janet Rhumes said her group of friends from Kansas had been planning their Memorial Day weekend on Navarre Beach since October. They stocked up on groceries and settled in for card games. "We've never seen one before and we're here celebrating a friend's 20th birthday," Rhumes told the Daily News. "So how often can you say you rode a storm out?" Elsewhere, Florida's Division of Emergency Management said, about 2,600 customers were without power in northwestern Florida on Monday morning. Alberto, the first named storm of 2018, got an early jump on the Atlantic hurricane season. The National Oceanic and Atmospheric Administration released the annual hurricane season forecast Thursday in which they call for 10 to 16 named storms, with five to nine hurricanes. One to four hurricanes could be "major" with sustained winds of at least 111 mph (178 kph). If that forecast holds, it would make for a near-normal or above-normal season. An average hurricane season produces 12 named storms, of which six become hurricanes, including three major hurricanes.

https://www.cnbc.com/2018/05/28/threats-of-flooding-as-subtropical-storm-alberto-drives-inland.html

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Ryerson Reports First Quarter 2018 Results

CHICAGO, May 2, 2018 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results ended March 31, 2018. Eddie Lehner, Ryerson's President and Chief Executive Officer said, "Thank you to our customers and to my Ryerson teammates as the Company executed exceptionally well in the first quarter, exceeding industry volume growth paired with sequential margin expansion and further expense leverage improvement all combining to generate higher Adjusted EBITDA, excluding LIFO, compared to both the fourth quarter of 2017 and first quarter of 2017. In addition to these key earnings improvements, Ryerson remains atop our industry in inventory management, reducing days of supply to a multi-year low of 68 from 69 in the first quarter of 2017, while maintaining high service levels in providing an expanding array of value-added solutions to our customers." First Quarter 2018 Financial Results Revenues were $941.3 million of 2018, up 16.1 percent compared to the fourth quarter of 2017 due to 11.9 percent higher volume, exceeding Ryerson's average seasonal improvement of 8 percent, and a 3.8 percent increase in average selling price per ton. Compared to the year-ago period, revenues increased 15.6 percent driven by an increase in average selling price per ton of 9.2 percent and higher volume of 5.8 percent. Gross margin improved to 17.5 percent of 2018, compared to 16.8 percent in the fourth quarter of 2017, but was lower than first quarter 2017 gross margin of 19.7 percent. Included in cost of materials sold was LIFO expense of $13.3 million of 2018 and $8.1 million for the fourth quarter of 2017, compared to net LIFO income of $0.7 million in the year-ago period. Gross margin, excluding LIFO was 18.9 percent of 2018, compared to 17.8 percent in the fourth quarter of 2017, and 19.6 percent in the first quarter of 2017. Erich Schnaufer, Ryerson's Chief Financial Officer, said, "Ryerson was able to expand our gross margins, excluding LIFO by 110 basis points sequentially as we executed on improving pricing and demand conditions, contributing to stronger quarterly earnings." A reconciliation of gross margin to gross margin, excluding LIFO is included below in this news release. Warehousing, delivery, selling, general, and administrative expense increased by $11.1 million, or 9.3 percent, of 2018 compared to the year-ago period, driven by increased shipments during the quarter. Ryerson demonstrated expense leverage as warehousing, delivery, selling, general, and administrative expenses declined to 13.8 percent of sales in the first quarter of 2018 compared to 15.0 percent in the fourth quarter of 2017, and 14.6 percent in the first quarter of 2017. Net income attributable to Ryerson Holding Corporation was $10.4 million, or $0.28 per diluted share, of 2018 compared to net income of $14.8 million, or $0.40 per diluted share, in the first quarter of 2017. Adjusted EBITDA, excluding LIFO, was $62.2 million in the first quarter of 2018, compared to $54.3 million in the year-ago period. A reconciliation of Adjusted EBITDA, excluding LIFO and net income attributable to Ryerson Holding Corporation is included below in this news release. First Quarter 2018 Balance Sheet, Cash Flow, and Liquidity Ryerson improved from a book equity deficit of $7.4 million as of December 31, 2017 to positive book equity of $5.2 million in the first quarter of 2018, a noteworthy event for the organization as we continue marking our progress while continuing to solidify our balance sheet and deleverage the business. In the first quarter of 2018, Ryerson's inventory balance improved by one day to a multi-year low of 68 days of supply compared to the year-ago period. Ryerson maintained ample liquidity in the first quarter of 2018. As of March 31, 2018, borrowings were $366 million on our primary revolving credit facility with additional availability of $323 million. Including cash, marketable securities, and availability from foreign sources, Ryerson's total liquidity was $381 million as of March 31, 2018 compared to $338 million as of December 31, 2017. Ryerson generated $32 million of cash from operating activities in the first quarter of 2018, driven by stronger earnings with net operating assets and liabilities relatively unchanged from the fourth quarter of 2017. Ryerson had a use of cash of $33 million from operating activities in the first quarter of 2017. Fanello Industries Acquisition In April 2018, Ryerson acquired Fanello Industries, a privately-owned metal processor and service company located in Lavonia, Georgia. Fanello Industries supplies blanking, stamping, laser cutting, bending, and machining metal solutions to a diverse group of industries in the Southeastern United States, with annual revenue of approximately $20 million. The Fanello Industries acquisition increases Ryerson's breadth of value-added services to leverage across its intelligent service center network for the benefit of current and future customers. Second Quarter 2018 Commentary Ryerson continues to see improved demand and pricing conditions in the second quarter of 2018. U.S. industrial production, as measured by the Federal Reserve, increased to a five-year high of 4.4 percent in February 2018 and remained elevated at 4.3 percent in March. Further, U.S. steel capacity utilization reached a 40 month high of 77.4 percent in March 2018, as domestic producers supplied a greater percentage of U.S. steel demand. Trade policy actions muted imported tons in the first quarter of 2018, as evidenced by a nine percent reduction in metal imports compared to the first quarter of 2017. Ryerson's strong relationships with domestic mills support supply continuity for our customers as we move through the impacts of trade policy implementation and adaptation in the second quarter of 2018. From a pricing perspective, industrial metal commodity prices continued to increase in April from March for CRU hot-rolled carbon steel, Midwest aluminum, and the stainless 304 surcharge, signaling higher average selling prices for Ryerson as the second quarter of 2018 unfolds. First Quarter 2018 Business Metrics First Quarter 2018 Fourth Quarter 2017 First Quarter 2017 Sequential Quarter Change Year-Over-Year Change Tons shipped (In thousands) 526 470 497 11.9% 5.8% Average selling price/ton $1,790 $1,725 $1,639 3.8% 9.2% Average cost/ton 1,477 1,435 1,316 2.9% 12.2% Average cost/ton, excluding LIFO 1,452 1,418 1,317 2.4% 10.3% First Quarter 2018 Major Product Metrics Tons Shipped (Tons in thousands) Average Selling Price per Ton Shipped First Quarter 2018 Fourth Quarter 2017 First Quarter 2017 Sequential Quarter Change Year- Over- Year Change Sequential Quarter Change Year-Over-Year Change Carbon steel 394 355 374 11.0% 5.3% 2.9% 8.5% Aluminum 56 49 50 14.3% 12.0% 4.4% 10.7% Stainless steel 74 65 71 13.8% 4.2% 2.8% 7.1% Net Sales (Dollars in millions) First Quarter 2018 Fourth Quarter 2017 First Quarter 2017 Sequential Quarter Change Year-Over- Year Change Carbon steel $465 $407 $407 14.3% 14.3% Aluminum 222 186 179 19.4% 24.0% Stainless steel 240 205 215 17.1% 11.6% Earnings Call Information Ryerson will host a conference call to discuss its first quarter 2018 results Thursday, May 3, 2018 at 10 a.m. Eastern Time. Participants may access the conference call by dialing 833-241-7253 (Domestic) or 647-689-4217 (International) and using conference ID 3988376. The live online broadcast will be available on the Company's investor relations website, ir.ryerson.com . A replay will be available at the same website for 90 days. About Ryerson Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson employs around 3,700 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com . Safe Harbor Provision Certain statements made and other written or oral statements made by or on behalf of the Company constitute " " within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the as a result of various factors. Among the factors that significantly impact the metals distribution industry and our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented market in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; work stoppages; obligations under certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals producer industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2017, and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any to reflect future events or circumstances, new information or otherwise. RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Selected Income and Cash Flow Data - Unaudited (Dollars and Shares in Millions, except Per Share and Per Ton Data) Fourth First Quarter Quarter 2018 2017 2017 NET SALES $ 941.3 $ 814.5 $ 810.6 Cost of materials sold 776.4 653.9 674.1 Gross profit 164.9 160.6 136.5 Warehousing, delivery, selling, general, and administrative (1) 130.5 119.4 121.7 OPERATING PROFIT 34.4 41.2 14.8 Other income and (expense), net (1) 3.6 2.4 2.1 Interest and other expense on debt (23.3) (21.8) (23.2) INCOME (LOSS) BEFORE INCOME TAXES 14.7 21.8 (6.3) Provision (benefit) for income taxes 4.1 6.8 (6.6) NET INCOME 10.6 15.0 0.3 Less: Net income attributable to noncontrolling interest 0.2 0.2 0.3 NET INCOME ATTRIBUTABLE TO RYERSON HOLDING CORPORATION $ 10.4 $ 14.8 $ - EARNINGS PER SHARE Basic and diluted $ 0.28 $ 0.40 $ - Shares outstanding - basic 37.2 37.1 37.2 Shares outstanding - diluted 37.5 37.3 37.2 Supplemental Data : Tons shipped (000) 526 497 470 Shipping days 64 64 60 Average selling price/ton $ 1,790 $ 1,639 $ 1,725 Gross profit/ton 313 323 290 Operating profit/ton 65 83 31 LIFO expense (income), net per ton 25 (1) 17 LIFO expense (income), net $ 13.3 $ (0.7) $ 8.1 Depreciation and amortization expense 11.5 10.7 13.0 Cash flow from operating activities 31.7 (32.7) 90.8 Capital expenditures (7.6) (4.0) (9.3) (1) As a result of adopting Accounting Standards Update 2017-07, "Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post Retirement Benefit Cost," we have reclassified a $2.1 million benefit in the first quarter of 2017 and a $2.4 million benefit in the fourth quarter of 2017 from Warehousing, delivery, selling, general, and administrative expense to Other income and (expense), net. See Schedule 1 for Condensed Consolidated Balance Sheets See Schedule 2 for EBITDA and Adjusted EBITDA reconciliation. See Schedule 3 for EPS reconciliation. Schedule 1 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Condensed Consolidated Balance Sheets (In millions, except shares) March 31, December 31, 2018 2017 Assets (unaudited) Current assets: Cash and cash equivalents $ 67.7 $ 77.4 Restricted cash 1.1 1.1 Receivable, less provision for allowances, claims and doubtful accounts of $2.0 in 2018 and $4.9 in 2017 473.6 376.3 Inventories 669.5 616.5 Prepaid expenses and other current assets 37.5 32.6 Total current assets 1,249.4 1,103.9 Property, plant and equipment, at cost 752.9 742.7 Less: accumulated depreciation 330.5 319.8 Property, plant and equipment, net 422.4 422.9 Deferred income taxes 13.7 17.9 Other intangible assets 45.3 46.9 Goodwill 115.3 115.3 Deferred charges and other assets 6.0 5.0 Total assets $ 1,852.1 $ 1,711.9 Liabilities Current liabilities: Accounts payable $ 402.5 $ 275.0 Salaries, wages and commissions 37.2 40.3 Other accrued liabilities 84.6 58.4 Short-term debt 30.3 21.3 Current portion of deferred employee benefits 7.7 7.7 Total current liabilities 562.3 402.7 Long-term debt 1,004.2 1,024.4 Deferred employee benefits 233.0 243.5 Other noncurrent liabilities 47.4 48.7 Total liabilities 1,846.9 1,719.3 Commitments and contingencies Equity Ryerson Holding Corporation stockholders' equity (deficit): Preferred stock, $0.01 par value; 7,000,000 shares authorized and no shares issued at 2018 and 2017 - - Common stock, $0.01 par value; 100,000,000 shares authorized; 37,421,081 shares issued at 2018 and 2017 0.4 0.4 Capital in excess of par value 378.3 377.6 Accumulated deficit (81.4) (95.1) Treasury stock, at cost - Common stock of 212,500 shares in 2018 and 2017 (6.6) (6.6) Accumulated other comprehensive loss (288.3) (286.3) Total Ryerson Holding Corporation Stockholders' Equity (Deficit) 2.4 (10.0) Noncontrolling interest 2.8 2.6 Total Equity (Deficit) 5.2 (7.4) Total Liabilities and Stockholders' Equity $ 1,852.1 $ 1,711.9 Schedule 2 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Reconciliations of Net Income Attributable to Ryerson Holding Corporation to EBITDA and Gross margin to Gross margin excluding LIFO (Dollars in millions) Fourth First Quarter Quarter 2018 2017 2017 Net income attributable to Ryerson Holding Corporation $ 10.4 $ 14.8 $ - Interest and other expense on debt 23.3 21.8 23.2 Provision (benefit) for income taxes 4.1 6.8 (6.6) Depreciation and amortization expense 11.5 10.7 13.0 EBITDA $ 49.3 $ 54.1 $ 29.6 Reorganization 0.7 0.5 1.3 Foreign currency transaction (gains) losses (2.0) (0.3) 0.2 Purchase consideration and other transaction costs 1.5 0.7 1.3 Other adjustments (0.6) - 0.1 Adjusted EBITDA $ 48.9 $ 55.0 $ 32.5 Adjusted EBITDA $ 48.9 $ 55.0 $ 32.5 LIFO expense (income), net 13.3 (0.7) 8.1 Adjusted EBITDA, excluding LIFO expense (income), net $ 62.2 $ 54.3 $ 40.6 Net sales $ 941.3 $ 814.5 $ 810.6 Adjusted EBITDA, excluding LIFO expense (income), net, as a percentage of net sales 6.6% 6.7% 5.0% Gross profit $ 164.9 $ 160.6 $ 136.5 Gross margin 17.5% 19.7% 16.8% Gross profit $ 164.9 $ 160.6 $ 136.5 LIFO expense (income), net 13.3 (0.7) 8.1 Gross profit, excluding LIFO expense (income), net $ 178.2 $ 159.9 $ 144.6 Gross margin, excluding LIFO expense (income), net 18.9% 19.6% 17.8% Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, impairment charges on assets, reorganization expenses and foreign currency transaction gains and losses. We believe that the presentation of EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net, provides useful information to investors regarding our operational performance because they enhance an investor's overall understanding of our core financial performance and provide a basis of comparison of results between current, past and future periods. We also disclose the metric Adjusted EBITDA, excluding LIFO expense (income), net, to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories. EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net, are three of the primary metrics management uses for planning and forecasting in future periods, including trending and analyzing the core operating performance of our business without the effect of U.S. generally accepted accounting principles, or GAAP, expenses, revenues and gains (losses) that are unrelated to the day to day performance of our business. We also establish compensation programs for our executive management and regional employees that are based upon the achievement of pre-established EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net, targets. We also use EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net, to benchmark our operating performance to that of our competitors. EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net do not represent, and should not be used as a substitute for, net income or cash flows from operations as determined in accordance with generally accepted accounting principles, and neither EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net, is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements. This release also presents gross margin, excluding LIFO expense (income), net, which is calculated as gross profit plus LIFO expense (or minus LIFO income), net, divided by net sales. We have excluded LIFO expense (income), net from the gross margin and Adjusted EBITDA as a percentage of net sales metrics in order to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories as we do. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO expense (income), net, gross margin, excluding LIFO expense (income), net, and Adjusted EBITDA, excluding LIFO expense (income), net, as a percentage of sales may differ from that of other companies. Schedule 3 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Reconciliation of Net Income and Earnings per Share Excluding Benefit from Income Tax Reform (Dollars and Shares in Millions, Except Per Share Data) Fourth First Quarter Quarter 2018 2017 2017 Net income attributable to Ryerson Holding Corporation $ 10.4 $ 14.8 $ - Benefit from income tax reform - - (3.4) Net income (loss) attributable to Ryerson Holding Corporation, excluding benefit from income tax reform $ 10.4 $ 14.8 $ (3.4) Earnings (loss) per share, excluding benefit from income tax reform $ 0.28 $ 0.40 $ (0.09) Shares outstanding - basic 37.2 37.1 37.2 Shares outstanding - diluted 37.5 37.3 37.2 Note: Net income (loss) and Earnings (loss) per share excluding benefit from income tax reform is presented to provide a means of comparison with periods that do not include benefit from income tax reform. View original content with multimedia: http://www.prnewswire.com/news-releases/ryerson-reports-first-quarter-2018-results-300641512.html SOURCE Ryerson Holding Corporation

http://www.cnbc.com/2018/05/02/pr-newswire-ryerson-reports-first-quarter-2018-results.html

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AMETEK Announces Record First Quarter Results And Raises 2018 Guidance

BERWYN, Pa., May 2, 2018 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its financial results for the three month period ended March 31, 2018. AMETEK's first quarter 2018 sales were a record $1.17 billion, up 16% compared to the first quarter of 2017, with organic sales growth of 8%. Orders were a record $1.34 billion, up 20% over the prior year. Operating income in the quarter increased 19% to a record $258.2 million and operating margins of 22.0% were up 40 basis points over the prior year. First quarter diluted earnings per share of $0.78 were up 30% versus the same quarter in 2017. "AMETEK delivered outstanding results to start the year," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Excellent organic sales growth, contributions from recently completed acquisitions and exceptional operating performance allowed AMETEK to deliver 30% earnings growth in the quarter. Record backlog, continued strong order momentum and positive market trends provides us with an optimistic outlook for the remainder of the year, prompting us to raise our full year guidance for 2018." Electronic Instruments Group (EIG) In the first quarter of 2018, EIG sales were $716.4 million, up 16% over the same quarter of 2017. EIG operating income for the quarter was $183.4 million, an increase of 18% over the same period last year, and operating margins expanded 50 basis points to 25.6%. "EIG delivered excellent results in the quarter, with the robust sales growth driven by strong organic sales growth and contributions from the recent acquisitions of Rauland, MOCON and Arizona Instrument," commented Mr. Zapico. "The higher sales combined with our operational excellence initiatives drove outstanding operating margin expansion in the quarter." Electromechanical Group (EMG) EMG sales in the first quarter were a record $456.2 million, an 18% increase compared to the first quarter last year. EMG operating income in the quarter was $91.0 million, an increase of 16% over the prior year. Operating margins were a very strong 19.9% in the quarter. "EMG also had an excellent start to the year with outstanding sales growth and strong operating performance. Sales increased sharply on low-double digit organic sales growth and contributions from the acquisition of FMH Aerospace. EMG also delivered solid operating performance in the quarter through the execution of our operational excellence efforts," noted Mr. Zapico. 2018 Outlook "The first quarter's results were excellent and firmly position AMETEK for strong sales and earnings growth in 2018. Our businesses continue to deliver exceptional performance, generating excellent sales growth, margin expansion and cash flows through the execution of our Four Growth Strategies. We remain focused on strategically investing in our businesses to accelerate growth both organically and through value enhancing strategic acquisitions," commented Mr. Zapico. "We now expect overall sales in 2018 to increase low-double digits on a percentage basis, with organic sales up mid-single digits. We are increasing our 2018 earnings guidance range to $3.06 to $3.12 per diluted share, up 17% to 20% over 2017's adjusted diluted earnings per share. This is an increase from our initial guidance range of $2.95 to $3.05 per diluted share," he added. "Overall sales in the second quarter of 2018 are expected to be up approximately 10% compared to the same quarter in 2017. We expect second quarter earnings per diluted share to be in the range of $0.76 to $0.78, up 17% to 20% over the same quarter last year," concluded Mr. Zapico. Conference Call AMETEK will webcast its first quarter 2018 investor conference call on Wednesday, May 2, 2018, beginning at 8:30 AM ET. The live audio webcast will be available and later archived in the Investors section of www.ametek.com . Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of more than $4.7 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New Products. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index. Forward-looking Information Statements in this news release relating to future events, such as AMETEK's expected business and financial performance are " ." Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include AMETEK's ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; AMETEK's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any . Contact: AMETEK, Inc. Kevin Coleman Vice President, Investor Relations 1100 Cassatt Road Berwyn, Pennsylvania 19312 kevin.coleman@ametek.com Phone: 610.889.5247 (Financial Information Follows) AMETEK, Inc. Consolidated Statement of Income (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2018 2017 (1) Net sales $ 1,172,647 $ 1,007,682 Cost of sales 776,800 667,402 Selling, general and administrative 137,679 122,833 Total operating expenses 914,479 790,235 Operating income 258,168 217,447 Interest expense (21,686) (24,516) Other income (expense), net (658) (1,509) Income before income taxes 235,824 191,422 Provision for income taxes 54,484 52,496 Net income $ 181,340 $ 138,926 Diluted earnings per share $ 0.78 $ 0.60 Basic earnings per share $ 0.79 $ 0.61 Weighted average common shares outstanding: Diluted shares 232,965 231,004 Basic shares 230,928 229,548 Dividends per share $ 0.14 $ 0.09 (1) - The first quarter of 2017 has been restated to reflect the adoption of new accounting guidance in 2018, which resulted in the presentation of $2.9 million of other net periodic benefit income in Other income (expense), net rather than in Operating income, with no change in Net income. AMETEK, Inc. Information by Business Segment (In thousands) (Unaudited) Three Months Ended March 31, 2018 2017 Net sales: Electronic Instruments $ 716,426 $ 619,769 Electromechanical 456,221 387,913 Consolidated net sales $ 1,172,647 $ 1,007,682 Operating income: Segment operating income: Electronic Instruments $ 183,359 $ 155,261 Electromechanical 91,002 78,343 Total segment operating income 274,361 233,604 Corporate administrative expenses (16,193) (16,157) Consolidated operating income $ 258,168 $ 217,447 AMETEK, Inc. Condensed Consolidated Balance Sheet (In thousands) March 31, December 31, 2018 2017 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 556,776 $ 646,300 Receivables, net 684,617 668,176 Inventories, net 596,312 540,504 Other current assets 122,500 79,675 Total current assets 1,960,205 1,934,655 Property, plant and equipment, net 492,350 493,296 Goodwill 3,238,599 3,115,619 Other intangibles, investments and other assets 2,367,207 2,252,494 Total assets $ 8,058,361 $ 7,796,064 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term borrowings and current portion of long-term debt, net $ 308,069 $ 308,123 Accounts payable and accruals 851,854 830,540 Total current liabilities 1,159,923 1,138,663 Long-term debt, net 1,897,633 1,866,166 Deferred income taxes and other long-term liabilities 796,408 763,602 Stockholders' equity 4,204,397 4,027,633 Total liabilities and stockholders' equity $ 8,058,361 $ 7,796,064 View original content: http://www.prnewswire.com/news-releases/ametek-announces-record-first-quarter-results-and-raises-2018-guidance-300640570.html SOURCE AMETEK, Inc.

http://www.cnbc.com/2018/05/02/pr-newswire-ametek-announces-record-first-quarter-results-and-raises-2018-guidance.html

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Under Armour picks up momentum overseas, sending shares higher

Under Armour on Tuesday reported stronger-than-expected sales for the first quarter, boosted by the retailer's international business and growth within the apparel category. Still, weaknesses persist in the U.S., where rivals Nike and Adidas have stolen market share. Some industry experts argue Under Armour has lost its identity in the space. The company has made moves, like collaborating with rapper A$AP Rocky, to become more of a lifestyle brand for everyday wear, but shoppers still largely view it as a utilitarian, performance line, made famous for its compression tees. And its women's wear lags niche competitors including Lululemon , Fabletics and Gap Inc.'s Athleta, which are seen as more fashionable. Another concern on Wall Street is Under Armour's burgeoning inventory position. Inventories climbed 27 percent to $1.1 billion in the latest period. Susquehanna analyst Sam Poser said: "inventory levels continue to appear out of control. ... The combination of high receivables and elevated inventory levels looks like a ticking time bomb to us." Under Armour's share price initially jumped after the earnings report, but in early trading the stock was falling more than 6 percent. Here's how the company performed for the period ended March 31: Earnings: 0 cents per share, adjusted, vs. a loss of 5 cents per share expected in a Thomson Reuters survey of analysts Revenue: $1.2 billion vs. $1.12 billion expected by Thomson Reuters Under Armour's net loss widened to $30.2 million, or 7 cents a share, compared with $2.3 million, or a penny per share, one year ago. The company said it had restructuring costs of $37.5 million during the quarter. Excluding one-time items, Under Armour broke even for the quarter on a per-share basis, which was better than the 5 cent loss expected by analysts. Under Armour's sales climbed 6 percent to $1.19 billion from $1.12 billion a year ago, again topping analysts' expectations. Sales in North America fell 0.4 percent, while those in international markets climbed 27 percent, now representing 24 percent of Under Armour's total sales. North American sales had also fallen in the two prior periods, pointing to a larger issue that other athletic apparel and footwear brands have been fighting. In its latest quarter, though, Nike's U.S. sales slump started to reverse , putting more pressure on Under Armour to follow suit. Under Armour said Tuesday that its men's training category helped drive apparel sales up 7 percent during the first quarter. Footwear sales were up 1 percent, while accessories sales grew 3 percent. CEO Kevin Plank said the company is "confident" it will meet full-year targets announced back in February. The retailer is expecting sales to increase at a low single-digit percentage rate, fueled by growth outside the U.S. of more than 25 percent. Rebounding from a rough ride in 2017, where shares tumbled 50 percent, Under Armour has convinced some investors its turnaround plans are working. The stock has gained back about 14 percent so far this year. "The company has an opportunity to build off a bottom," Jefferies analyst Randal Konik said in a note to clients last week. "We continue to believe UA is one of 3 brands that matter in athletic." Konik said the company still needs to "fix" its wholesale model, which has been a particularly strong issue in North America, where Adidas has picked up in popularity and taken shelf space from Nike, Puma, Reebok and others. However, Konik pointed to Under Armour's direct-to-consumer business as a momentum driver, and the brand continues to pick up customers overseas. Its strongest international segment in the latest quarter was Asia-Pacific, where sales were up 35 percent. Plank said on a call with analysts and investors Tuesday that Under Armour will focus on its current distribution platforms, like Dick's Sporting Goods and Kohl's , instead of adding new selling channels. He said the company should carry less inventory into 2019 as it narrows its SKU count.

https://www.cnbc.com/2018/05/01/under-armour-q1-earnings-2018.html

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SE Asia Stocks-Malaysia snaps 4 sessions of fall, Indonesia gains further

May 25, 2018 / 10:42 AM / Updated 14 minutes ago SE Asia Stocks-Malaysia snaps 4 sessions of fall, Indonesia gains further Reuters Staff 4 Min Read * Malaysia gains over 1 percent * Indonesia rises for fourth session By Binisha Ben May 25 (Reuters) - Malaysian shares rose more than 1 percent on Friday and snapped four straight sessions of fall, as the finance minister's announcement that the government would pay all obligations on 1MDB debt calmed investors. The government will honour all payments on debt raised by insolvent state fund 1Malaysia Development Berhad (1MDB), even though it is unhappy about money missing from the fund, said Finance minister Lim Guan Eng. Malaysian stocks closed the session 1.2 percent higher, but the week 3.1 percent lower, the biggest since September 2015, on concerns of worrying amounts of debts left behind by the previous government. Public Bank Bhd and Tenaga Nasional were the biggest boost with gains of 2.3 percent and 1.9 percent, respectively. Among other Southeast Asian stock markets, Indonesian shares gave up early gains to close 0.5 percent higher, marking their fourth session of gains. Financials accounted for most of the gains with Bank Negara Indonesia (Persero) rising 3.9 percent and Bank Central Asia climbing 0.5 percent. Bank Indonesia's newly sworn-in governor promised on Thursday to focus on stabilising the rupiah in the near term and to be "more pre-emptive" and ahead of the curve on monetary settings. Investors welcomed the statement after weeks of weakness in local assets on the back of capital flight fears. The key Jakarta stock index closed the week 3.3 percent higher, the biggest since the week ended Dec. 30, 2016. An index of the country's 45 most liquid stocks was up 0.5 percent on Friday. Singapore shares closed 0.4 percent lower after data released earlier in the day showed that industrial production rose at a slower-than-expected pace in April month-on-month. For the week, Singapore stocks declined 0.5 percent, in their second weekly drop. Philippine shares closed 0.1 percent lower, dragged by financial and real estate stocks. The peso fell to a fresh 12-year low after the central bank on Thursday announced its second cut in banks' reserve requirement ratio in three months. The Philippine key stock index shed 0.3 percent this week. Vietnam shares closed 2.2 percent lower and Thai stocks ended 0.5 percent higher. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 1030 GMT Change on the day Market Current Previous close Pct Move Singapore 3513.23 3528.92 -0.44 Bangkok 1741.21 1732.51 0.50 Manila 7647.51 7652.53 -0.07 Jakarta 5975.742 5946.538 0.49 Kuala Lumpur 1797.4 1775.66 1.22 Ho Chi Minh 963.9 985.92 -2.23 Change on year Market Current End 2017 Pct Move Singapore 3513.23 3402.92 3.24 Bangkok 1741.21 1753.71 -0.71 Manila 7647.51 8558.42 -10.64 Jakarta 5975.742 6355.654 -5.98 Kuala Lumpur 1797.4 1796.81 0.03 Ho Chi Minh 963.9 984.24 -2.07 (Reporting by Binisha Ben; Editing by Subhranshu Sahu)

https://www.reuters.com/article/southeast-asia-stocks/se-asia-stocks-malaysia-snaps-4-sessions-of-fall-indonesia-gains-further-idUSL3N1SW2HZ

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WRAPUP 2-U.S. first-quarter growth trimmed on weak consumer spending

(Adds details, analyst comments, updates markets) * First-quarter GDP revised down to 2.2 percent * Private payrolls rise 178,000 in May * Goods trade deficit narrows 0.6 percent in April WASHINGTON, May 30 (Reuters) - U.S. economic growth slowed slightly more than initially thought in the first quarter as consumer spending rose at its weakest pace in nearly five years, but activity is already picking up against the backdrop of a tightening labor market and tax cuts. Gross domestic product increased at a 2.2 percent annual rate, the Commerce Department said on Wednesday in its second estimate of first-quarter GDP, instead of the previously reported 2.3 percent pace. While business spending was stronger than initially estimated, inventory investment was far smaller than the government reported last month. The economy grew at a 2.9 percent rate in the fourth quarter. Economists expect a $1.5 trillion income tax cut package, which came into effect in January, will spur faster economic growth this year and lift annual GDP growth close to the Trump administration's 3 percent target. Growth is also expected to get a boost from increased government spending. April data including retail sales, trade and industrial production suggest the economy regained speed early in the second quarter. Growth estimates for the second quarter are above a 3 percent rate. Economists had expected first-quarter GDP growth would be unrevised at a 2.3 percent pace. "Growth is set to rev up soon given the deficit-financed tax cuts and a big increase in federal government spending," said Scott Hoyt, a senior economist at Moody's Analytics in West Chester, Pennsylvania. An alternative measure of economic growth, gross domestic income (GDI) increased at a 2.8 percent rate in the January-March quarter, the fastest since the third quarter of 2016. GDI rose at a 1.0 percent pace in the fourth quarter. The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, increased at a 2.5 percent rate in the first quarter. That followed a 2.0 percent rate of growth in the prior period. The income side of the growth ledger was boosted by after-tax corporate profits, which surged at a 5.9 percent rate last quarter after rising at a 1.7 percent pace in the fourth quarter. The government slashed the corporate tax rate to 21 percent from 35 percent effective January. Wages and salaries also got a lift from lower tax rates, increasing $119.5 billion in the first quarter, an upward revision of $3.1 billion from earlier estimates. STRONG LABOR MARKET Separately, the ADP national employment report on Wednesday showed private sector payrolls increased by 178,000 jobs in May after rising 163,000 in April. The data was released ahead of the government's more comprehensive employment report on Friday. According to a Reuters survey of economists, nonfarm payrolls likely increased by 188,000 jobs this month after gaining 164,000 in April. The unemployment rate is forecast unchanged at a near 17-1/2-year low of 3.9 percent. "Job growth is still strong for this stage of the expansion but slowing as businesses are having a difficult time finding qualified workers to fill open positions," said Scott Anderson, chief economist at Bank of the West in San Francisco. Steady growth and a robust labor market are seen encouraging the Federal Reserve to raise interest rates next month. The U.S. central bank increased borrowing costs in March and forecast at least two more rate hikes for this year. U.S. financial markets were little moved by the data as investors keep a wary eye on political developments in Italy. The dollar fell against a basket of currencies and prices for U.S. Treasuries were trading lower. Stocks on Wall Street rose. Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, braked to a 1.0 percent rate in the first quarter, rather than the previously reported 1.1 percent pace. It was the slowest pace since the second quarter of 2013 and followed the fourth quarter's robust 4.0 percent rate. Businesses accumulated inventories at a $20.2 billion rate, instead of the $33.1 billion pace estimated last month. Inventory investment contributed 0.13 percentage point to GDP growth instead of 0.43 percentage point. The smaller inventory build bodes well for second-quarter GDP growth. The trade deficit in the first three months of the year was a bit bigger than initially thought and had no impact on the GDP growth rate. Trade was previously estimated to have added 0.20 percentage point to output. It could contribute to GDP growth in the second quarter as another report from the Commerce Department showed the goods trade deficit falling 0.6 percent to $68.2 billion in April. Business spending on equipment was revised up to a 5.5 percent growth rate in the January-March quarter from the 4.7 percent pace estimated last month. That was still a moderation in investment following double-digit growth in the second half of 2017. April durable goods data suggested business spending on equipment is likely to slow further in the second quarter. Investment in homebuilding fell at a 2.0 percent rate in the first quarter instead of being unchanged as reported last month. (Reporting by Lucia Mutikani; Editing by Andrea Ricci)

https://www.cnbc.com/2018/05/30/reuters-america-wrapup-2-u-s-first-quarter-growth-trimmed-on-weak-consumer-spending.html

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US-North Korea meetings in New York aimed at salvaging summit

Top American and North Korean officials are holding a full day of meetings in New York on Thursday aimed at deciding whether a summit between President Donald Trump and North Korean leader Kim Jong Un can be salvaged. Ahead of the meetings, Secretary of State Mike Pompeo and the North's former military intelligence chief, Kim Yong Chol, had dinner Wednesday night. Kim had flown in from Beijing and Pompeo from Washington. It's the highest-level official North Korean visit to the United States in 18 years. Kim, the former military intelligence chief and one of the North Korean leader's closest aides, landed midafternoon Wednesday on an Air China flight from Beijing. During his unusual visit, Kim had dinner for about an hour and a half with Pompeo. The two planned a "day full of meetings" Thursday, the White House said. Their talks will be aimed at determining whether a meeting between Trump and Kim Jong Un, originally scheduled for June 12 but later canceled by Trump, can be restored, U.S. officials have said. "Good working dinner with Kim Yong Chol in New York tonight," Pompeo tweeted Wednesday. "Steak, corn, and cheese on the menu." The talks come as preparations for the highly anticipated summit in Singapore were barreling forward on both sides of the Pacific Ocean, despite lingering uncertainty about whether it will really occur, and when. As Kim and Pompeo met in New York, other U.S. teams were meeting with North Korean officials in Singapore and in the heavily fortified Korean Demilitarized Zone. "If it happens, we'll certainly be ready," White House spokeswoman Sarah Huckabee Sanders said of the Singapore summit. Regarding the date for the meeting, she added, "We're going to continue to shoot for June 12th." North Korea's flurry of diplomatic activity following a torrid run in nuclear weapons and missile tests in 2017 suggests that Kim Jong Un is eager for sanctions relief to build his economy and the international legitimacy the summit with Trump would provide. But there are lingering doubts on whether Kim will ever fully relinquish his nuclear arsenal, which he may see as his only guarantee of survival in a region surrounded by enemies. Pompeo, Trump's former CIA chief, has traveled to Pyongyang twice in recent weeks for meetings with Kim Jong Un, and has said there is a "shared understanding" between the two sides about what they hope to achieve in talks. South Korean media speculated that Pompeo could make a third trip to Pyongyang and that Kim Yong Chol was carrying a personal letter from Kim Jong Un and might push to travel to Washington to meet with Trump. North Korea's mission to the United Nations in New York is its sole diplomatic presence in the United States. That suggests Kim might have chosen to first go to New York because it would make it easier for him to communicate with officials in Pyongyang, North Korea's capital. North Korea and the United States are still technically at war and have no diplomatic ties because the 1950-53 Korean War ended with an armistice, not a peace treaty. Trump views a summit as a legacy-defining opportunity to make the nuclear deal that has evaded others, but he pledged to walk away from the meeting if he believed the North wasn't serious about discussing dismantling its nuclear program. After the North's combative statements, there was debate inside the Trump administration about whether it marked a real turn to belligerence or a feint to see how far Kim Jong Un could push the U.S. in the lead-up to the talks. Trump had mused that Kim's "attitude" had changed after the North Korean leader's surprise visit to China two weeks ago, suggesting China was pushing Kim away from the table. Trump's open letter to Kim last week canceling the summit, the aides said, was designed to pressure the North on the international stage for appearing to have cold feet. White House officials maintain that Trump was hopeful the North was merely negotiating but that he was prepared for the letter to mark the end of the two-month flirtation. Instead, the officials said, it brought both sides to the table with increasing seriousness, as they work through myriad logistical and policy decisions to keep June 12 a viable option for the summit. Kim Yong Chol is a vice chairman of the North Korean ruling party's central committee. The last official of his stature to visit the United States was Jo Myong Rok, the late first vice chairman of the National Defense Commission, who visited Washington in 2000, South Korea's Unification Ministry said. The White House emphasized that it has remained in close contact with South Korean and Japanese officials as preparations for the talks continue. Sanders said Trump will host Japanese Prime Minister Shinzo Abe of Japan on June 7 to coordinate their thinking ahead of the summit. Trump hosted South Korean President Moon Jae-in last week. Moon, who has lobbied hard for nuclear negotiations between Trump and Kim Jong Un, held a surprise meeting with the North Korean leader on Saturday in an effort to keep the summit alive.

https://www.cnbc.com/2018/05/31/us-north-korea-meetings-in-new-york-aimed-at-salvaging-summit.html

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Dinova Names Alison Galik As President

ATLANTA, May 3, 2018 /PRNewswire/ -- Dinova, Inc., a business dining marketplace, today announced the appointment of Alison Galik as President. In this role, Galik will be responsible for leading the day-to-day operations as well as executing the company's strategic plan and future growth. "We are extremely pleased to welcome Alison into the Dinova family," said Vic Macchio, Founder, Executive Chairman, and Chief Strategy Officer at Dinova. "Alison embodies the best of our values, drive and focus as a company. She is ideally suited to lead Dinova into our next phase as we grow and enhance every aspect of operations and execution." Galik brings more than 20 years of global business leadership in corporate travel management and technology. Among her accomplishments, Galik was most recently President at Vibe HCM Inc., where she was responsible for the success of the human capital management software firm. Prior to Vibe, Galik was Executive Vice President at Nashville-based InnLink, where she presided over a $10 million central reservation services business serving 3,500+ independent hotel customers. Her success there led to the acquisition of InnLink by Sabre Hospitality Solutions. Galik's career runs deep in the corporate travel management space, having held executive positions at Rosenbluth International, American Express, StarCite and Lanyon Solutions. "I'm both honored and excited to be joining Dinova. Business dining is the third largest corporate T&E expense and Dinova's winning marketplace model for both corporate clients and restaurants is a legacy I'm proud to be part of," said Ms. Galik. Michael Ramich, Partner of Frontier Capital, the growth equity firm that invested in Dinova one year ago, said that adding a seasoned executive in the travel technology space is key to Dinova's strategy and future growth. "Alison has the combination of industry experience and a deep relationship with Frontier Capital, holding previous positions with Frontier investments Lanyon and Vibe HCM, to achieve the ambitious goals." Galik holds a bachelor's degree in Management and Marketing from Rutgers University, and an MBA from Temple University. She will work from Dinova's headquarters office in Johns Creek, Georgia. Connect with us: Twitter ; Facebook ; LinkedIn Media Contact: Heather Thompson Phone: 678-684-2257 Email: hthompson@dinova.com Dinova ( www.dinova.com ) is the only company providing an innovative, proprietary marketplace exclusively focused on connecting expense account diners to quality restaurants nationwide. Dinova influences more than $7 billion annually in business meals and entertainment expenses. Participating companies range from millions of small to medium sized businesses to hundreds of Fortune 500 enterprises, and its 14,000+ restaurant network includes local independents as well as national full-service and limited-service restaurant brands, encompassing all price levels and cuisines. About Frontier Capital Frontier Capital is a Charlotte-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. The firm makes minority and majority equity investments in high-growth companies. For more information, please visit frontiercapital.com . View original content with multimedia: http://www.prnewswire.com/news-releases/dinova-names-alison-galik-as-president-300641907.html SOURCE Dinova, Inc.

http://www.cnbc.com/2018/05/03/pr-newswire-dinova-names-alison-galik-as-president.html

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Malaysia's March export growth rebounds, up 2.2 pct y/y

* March exports up 2.2 pct y/y vs Reuters poll of 1.7 pct rise * March imports down 9.6 pct y/y vs poll forecast of 3.3 pct drop * Trade surplus 14.7 bln rgt vs poll forecast of 9.9 bln rgt * Exports to China down 4.7 pct, fall 0.1 pct to the United States KUALA LUMPUR, May 4 (Reuters) - Malaysia's exports in March rebounded after a slowdown to rise 2.2 percent from a year earlier, underpinned by higher shipments of manufactured goods, government data showed on Friday. Export growth was above the 1.7 percent rise forecast by a Reuters poll, and up from the 2 percent decline in February, when shipments took a hit during the Lunar New Year break. The country's exports in March totalled 84.5 billion ringgit, the highest monthly export value ever recorded, the International Trade and Industry Ministry said in a statement. The growth in exports was mainly driven by higher shipments of manufactured goods, particularly electrical and electronic products, the ministry's data showed. Manufactured goods account for more than 80 percent of Malaysia's exports. Imports in March, however, declined 9.6 percent year-on-year, at their weakest annual pace since September 2009, when they dropped 19.9 percent. Imports of intermediate goods, which account for 52.8 percent of total imports, fell 14.4 percent from a year earlier in March. Imports of capital and consumption goods also posted declines, the data showed. Malaysia reports trade data in ringgit. March's trade surplus widened to 14.7 billion ringgit ($3.74 billion), compared with 9 billion ringgit in February. Exports to China, a major trading partner, remained tepid, falling 4.7 percent year-on-year in March. Shipments to the United States also declined marginally by 0.1 percent from a year earlier, due to lower exports of commodities, electrical and electronic products. For the first quarter of 2018, exports grew 5.8 percent, but imports fell 0.8 percent, compared with the corresponding period last year. KEY DATA (Exports and imports in percent, trade in billions of ringgit) March Feb Jan Dec Nov Oct Sept Aug Exports 84.5 70.3 82.9 79.3 83.5 82.4 78.3 82.2 y/y% 2.2 -2.0 17.9 4.7 14.4 18.9 14.8 21.5 Imports 69.8 61.3 73.2 72.1 73.6 71.9 69.7 72.4 y/y% -9.6 -2.8 11.6 7.9 15.2 20.9 15.2 22.6 Balance 14.7 9.0 9.7 7.3 10.0 10.6 8.6 9.9 MAIN EXPORTS March 2018 % of % change (bln rgt) total vs year ago Electrical & 31.8 37.7 8.7 Electronic Products Chemicals and 6.6 7.8 7.8 chemicals products Petroleum products 5.0 5.9 -24.6 Palm oil & Palm-based 4.1 4.8 -7.5 products Machinery 4.1 4.8 4.9 Manufactures of metal 3.8 4.5 17.6 Crude petroleum 3.6 4.3 18.4 Liquefied natural gas 3.3 3.9 -3.3 Optical and 2.9 3.4 -0.2 scientific equipment Rubber products 2.3 2.7 -10.5 EXPORT MARKETS March 2018 % of % change (bln rgt) total vs year ago China 10.4 12.4 -4.7 Singapore 11.2 13.3 -4.3 USA 7.9 9.4 -0.1 Japan 6.7 7.9 -3.5 Thailand 4.7 5.6 9.5 ($1 = 3.9330 ringgit) (Reporting by Rozanna Latiff; Editing by Sherry Jacob-Phillips)

https://www.reuters.com/article/malaysia-economy-trade/malaysias-march-export-growth-rebounds-up-2-2-pct-y-y-idUSL3N1SB1DK

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Southwest Airline pushes woman for proof biracial child was her son

Southwest Airlines has apologized to the Cal women's basketball coach Lindsay Gottlieb after she claimed an airline employee stopped her from boarding because the worker didn't believe her 1-year-old biracial son was hers. Gottlieb tweeted that a desk agent wouldn't let her on a flight from Denver to Oakland Sunday because her son had a different last name. However, the coach from the University of California, Berkeley said she believed it was "because he has a different skin color." Gottlieb was travelling with her fiance, Patrick Martin, the boy's father, who is black. @CalCoachG tweet @CalCoachG tweet Airlines aren't required to match the last name of a child and guardian for domestic flights. Southwest said Tuesday it reached out to Gottlieb. Gottlieb says she appreciates the apology.

https://www.cnbc.com/2018/05/30/southwest-airline-pushes-woman-for-proof-biracial-child-was-her-son.html

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PPDAI Group Inc. to Report First Quarter 2018 Financial Results on Tuesday, May 15, 2018

SHANGHAI, PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced that it will report its first quarter 2018 unaudited financial results, on Tuesday, May 15, 2018, before the open of U.S. markets. The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 15, 2018 (8:00 PM Beijing/Hong Kong time on May 15, 2018). Dial-in details for the earnings conference call are as follows: United States (toll free): 1-888-346-8982 International: 1-412-902-4272 Hong Kong (toll free): 800-905-945 Hong Kong: 852-301-84992 China: 400-120-1203 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "PPDAI Group." Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.ppdai.com . A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until May 22, 2018, by dialing the following telephone numbers: United States (toll free): 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 10120252 About PPDAI Group Inc. PPDAI is a leading online consumer finance marketplace in China with strong brand recognition. Launched in 2007, the Company is the first online consumer finance marketplace in China connecting borrowers and investors. As a pioneer in China's online consumer finance marketplace, the Company benefits from both its early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles. The Company's platform, empowered by its proprietary, cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience, as evidenced by the rapid growth of the Company's user base and loan origination volume. As of December 31, 2017, the Company had over 65 million cumulative registered users. , please visit http://ir.ppdai.com . For investor and media inquiries, please contact: In China: PPDAI Group Inc. Jimmy Tan / Sally Huo Tel: +86 (21) 8030 3200-8601 E-mail: ir@ppdai.com The Piacente Group, Inc. Ross Warner Tel: +86 (10) 5730-6200 E-mail: paipaidai@tpg-ir.com In the United States: The Piacente Group, Inc. Alan Wang Tel: +1-212-481-2050 E-mail: paipaidai@tpg-ir.com : releases/ppdai-group-inc-to-report-first-quarter-2018-financial-results-on-tuesday-may-15-2018-300644217.html SOURCE PPDAI Group Inc.

http://www.cnbc.com/2018/05/08/pr-newswire-ppdai-group-inc-to-report-first-quarter-2018-financial-results-on-tuesday-may-15-2018.html

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Fed indicates it will let inflation run above 2 percent goal for 'temporary period'

Federal Reserve officials would be content to let inflation briefly run above their 2 percent target as the economy continues to recover, according to minutes from the central bank's most recent meeting. Following the May 1-2 session, the policymaking Federal Open Market Committee said it wasn't raising rates yet but added the word "symmetric" to describe its inflation goal. Market participants since have puzzled over what the change in language might imply. The summary released Wednesday indicates a substantial level of debate over how the Fed should approach inflation. The minutes also pointed to an interest rate hike at the June meeting amid debate over how close the Fed might be getting to the end of this rate-hiking cycle. Getty Images Federal Reserve Chairman Jerome Powell speaks during a news conference March 21, 2018 in Washington, DC. While the general sentiment was that inflation would continue to rise toward the 2 percent target, there was disagreement over how confident the Fed should be after years of undershooting, and what that would mean to policy. However, there seemed to be agreement that after years of subpar growth and low inflation, allowing the economy to rev up a little would be appropriate. "A few participants commented that recent news on inflation, against a background of continued prospects for a solid pace of economic growth, supported the view that inflation on a 12-month basis would likely move slightly above the Committee's 2 percent objective for a time," the minutes said. "It was also noted that a temporary period of inflation modestly above 2 percent would be consistent with the Committee's symmetric inflation objective and could be helpful in anchoring longer-run inflation expectations at a level consistent with that objective." 'Symmetric' "Symmetric" was mentioned at least nine times in the minutes. The Fed's preferred inflation gauge, the core personal consumption expenditures index, currently is at 1.9 percent, while the headline rate including energy and food prices is at 2 percent. Fed officials described wage pressures as "moderate" though it noted there has been more pressure in industries where labor supply is tightening. Fed officials see 2 percent inflation as a level that sustains economic growth without putting too much upward pressure on prices. After seven years of keeping its benchmark interest rate near zero, the FOMC began raising rates in December 2015, with the current target range at 1.5 percent to 1.75 percent. As the economy has seen growth above its recovery trend and inflation inches its way toward the Fed's goal, market participants have been speculating on how quickly the Fed will continue to hike and when it will stop. A few members stated that the Fed is getting close to its "neutral" goal of setting a rate that is neither constrictive nor overly expansionary to growth. Though Fed officials indicated in March that a total of three rate hikes this year were likely, traders in the fed funds futures market in recent days briefly put chances of a fourth hike above 50 percent. That probability has since declined to about 43 percent. The minutes indicate that central bank officials remain determined to keep increasing rates, but with the gradual approach that it has repeatedly pledged to take. June hike? "Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate for the Committee to take another step in removing policy accommodation," the minutes said in an indication that another hike is likely soon. Markets already had been pricing in a 95 percent chance of a quarter-point move at the June FOMC session, followed by another increase in September. The Fed's rate is tied closely to most forms of consumer debt. Along with the approach to inflation, some Fed officials also suggested that changes will be coming to what has become boilerplate language in post-meeting statements. Specifically, those members said that as rate hikes continue, adjustments may have to be made to phrasing that the "federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run" and another phrase that for years has said "the stance of monetary policy remains accommodative." However, the minutes also noted that members "expressed a range of views" on how policy should proceed. Positive economic outlook On the economy, committee members said their opinions had changed little as they expect continued progress despite some signs of softening in the first quarter. There was concern expressed over trade and fiscal issues, with Fed business contacts expressing "concern about the possible adverse effects of tariffs and trade restrictions, including the potential for postponing or pulling back on capital spending." The outlook otherwise was positive. "They noted a number of economic fundamentals were currently supporting continued above-trend economic growth; these included a strong labor market, federal tax and spending policies, high levels of household and business confidence, favorable financial conditions, and strong economic growth abroad," the minutes said. As things progress, "further gradual increases" in rates would be possible without disrupting the recovery and while sustaining the "symmetric" inflation goal. WATCH: Another Fed hike ahead if economy stays on track show chapters Fed: Another hike ahead if economy stays on track 1 Hour Ago | 05:09

https://www.cnbc.com/2018/05/23/fed-indicates-it-will-let-inflation-run-above-2-percent-goal-for-temporary-period.html

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Your first trade for Friday, May 11

The " Fast Money " traders shared their first moves for the market open. Tim was a buyer of the iShares MSCI Brazil ETF . Karen was a buyer of Xerox . Seaburg was a buyer of Facebook . Grasso was a buyer of Overstock.com . Trader disclosure: On May 10, 2018 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AMZA, ACB.TO, APC, APH.TO, BABA, BAC, BX, C, CCJ, CLF, CMG, CRON, CSCO, CX, DAL, DPZ, DVYE, EEM, ERJ, EUFN, EWM, FB, FXI, GE, GILD, GM, GOOGL, GWPH, HAL, INTC, JD, LEAF, MAT, MCD, MO, MOS, MPEL, PAK, PHM, PYPL, RH, RL, SBUX, SQ, T, TIF, TWTR, UA, UAL, VALE, VIAB, VOD, X, XLE, XRT, YNDX, 700.HK. Tim is short IWM, RACE, SPY. Karen Finerman's firm is long ANTM, C, FB, FL, FNAC, GOOG, GOOGL, GLNG, GMLP, INTC, JPM, KORS puts, LYV, SPY puts, SPY put spreads, WIFI. Her firm is short IWM. Karen Finerman is long AAL, BAC, BOT Bitcoin, Bitcoin Cash, Ethereum, C, CAT, DAL, DVYE, DXJ, EEM, EPI, EWW, EWZ, DVYE, FB, FL, GM, GMLP, GLNG, GOOG, GOOGL, INTC, JPM, LYV, KFL, KORS, KORS calls, MA, MTW, SEDG, SPY puts, TACO, WIFI, WFM. Karen Finerman is short TBT calls. Bitcoin and Ethereum are in her kids' Trust. Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Inc. David Seaburg has a financial interest in EDIT. Diamond Offshore: an employee of Cowen Inc. serves on the Board of Directors of Diamond Offshore. Steve Grasso is long stock AAPL, BABA, CAR, EVGN, GE, JCP, MJNA, MON, MTCH, PFE, RAD, SQ, T, TSLA, TWTR, VRX. Grasso owns Callable Trigger contingent yield note linked to SPX, RTY, and MXEA. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. Grasso's firm is long stock AMD, COTY, CTL, CUBA, DIA, F, GE, GLD, GSK, HPQ, IAU, IBM, ICE, LEN, MAT, MJNA, MSFT, NE, QCOM, RIG, SNAP, SNGX, SPY, T, TMUS, UA, WDR, WHR, XRX, ZNGA.

https://www.cnbc.com/2018/05/11/your-first-trade-for-friday-may-11.html

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UPDATE 2-Fed, U.S. regulators unveil first 'Volcker Rule' rewrite

(Adds details and context, recasts throughout) WASHINGTON, May 30 (Reuters) - U.S. regulators on Wednesday proposed simplifying a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account in order to make compliance easier for many firms. The Federal Reserve's rewrite of the so-called Volcker Rule marked another step by regulators under U.S. President Donald Trump to ease rules introduced by the 2010 Dodd-Frank financial reform law in a bid to boost lending and economic growth. Banks have long complained the rule meant to ban lenders that accept U.S. taxpayer-insured deposits from engaging in proprietary trading is too vague and complex. The rewrite seeks to make clear which trades qualify for safe harbors, such as when banks facilitate client trades and hedge risks, and to expand those exemptions. The proposal eases one of the more controversial aspects of the rule which only permits trades related to market-making and underwriting by making it easier for firms to show such trades met near-term demand from clients. The changes would also create a tiered framework, reserving the strictest oversight for the most active trading institutions, while granting smaller, less complex banks greater leeway. The country's 18 banks with more than $10 billion in trading assets, which together account for 95 percent of all trading activity, face the most rigorous rules. Banks with trading assets between $10 billion and $1 billion will enjoy a simpler rule set, while banks with less than $1 billion in trading assets would be presumed compliant. The proposal would also scrap a subjective standard which assumes banks' short-term trading is profit-seeking unless they can prove otherwise, replacing it with an accounting test. The proposal was unanimously approved by the three-member Federal Reserve Board, including Lael Brainard, who had been nominated for the post by former President Barack Obama. Vice Chair for Supervision Randal Quarles said in a statement on Wednesday that the objective was to simplify and tailor the rule, but further reforms down the line were possible. "I view this proposal as an important milestone in comprehensive Volcker Rule reform, but not the completion of our work," said Quarles, a Trump nominee. BETTER ENFORCEMENT The Volcker Rule, which took four years to write and runs at around 1,000 pages, has forced many Wall Street banks to overhaul their trading operations and hive off billions of dollars worth of hedge funds and private equity funds. U.S. Congress wrote the broad strokes of the Volcker Rule into law, but five regulators oversee the rule and wrote its finer details. Industry attempts to persuade Congress to overhaul the Volcker Rule so far have failed, but regulators said on Wednesday that it can be revised without negatively affecting the safety and soundness of the financial system. They added that the revisions would also make it easier for on-the-ground bank examiners to enforce the rule. The proposal is subject to a 60-day comment period. In a statement on Wednesday, former Fed Chairman Paul Volcker, who had conceived the rule, said he welcomed the proposal to simplify it. "What is critical is that simplification not undermine the core principle at stake that taxpayer-supported banking groups, of any size, not participate in proprietary trading at odds with the basic public and customers interests," Volcker said. Still, while regulators painted the rewrite as moderate, consumer advocates warned that it would put taxpayers and depositors at risk. "Even as banks make record profits, their former banker buddies turned regulators are doing them favors by rolling back a rule that protects taxpayers from another bailout," said U.S. Democratic Senator Elizabeth Warren in a statement. (Reporting by Michelle Price and Pete Schroeder; additional reporting by Patrick Rucker and David Henry in New York; Editing by Meredith Mazzilli)

https://www.cnbc.com/2018/05/30/reuters-america-update-2-fed-u-s-regulators-unveil-first-volcker-rule-rewrite.html

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AOAC INTERNATIONAL Announces New Executive Director

ROCKVILLE, Md., May 1, 2018 /PRNewswire/ -- AOAC INTERNATIONAL announced that Mr. David B. Schmidt has been appointed as its new Executive Director, effective May 1, 2018. "AOAC INTERNATIONAL is privileged to have a Board composed of the best executive leadership for advancing solutions in the development of microbiological and chemical standards and methods," said AOAC INTERNATIONAL President DeAnn Benesh. "On behalf of the Board of Directors and staff, we are eager to work with Dave Schmidt in his new role as Executive Director," said Benesh. "Dave has an impressive background in global food safety, and I am eager to work with him on opportunities to advance the leadership of this outstanding organization. I wish Dave much success and look forward to assisting him in his new role." Incoming Executive Director David Schmidt said, "I look forward to building upon AOAC INTERNATIONAL's successes as we continue to collaborate with our members and the U.S. and global community pursuing science-based solutions through validation and adoption of standards and methods." Schmidt is a globally recognized leader and former CEO of the International Food Information Council & Foundation, science-based communication organizations on food safety and nutrition, and is fluent in many of the ingredients, compounds, and organisms for which AOAC sets analytical standards. He has a successful track record of leading teams and managing budgets of similar size to AOAC in a responsible and collaborative manner. He has built several partnerships and relationships while simultaneously leading both 501(c)(3) and 501(c)(6) organizations. Schmidt has experience attracting Federal and private sector grants to support mission-based programs. Earlier in his career, he also served at the USDA Food Safety and Inspection Service. ABOUT AOAC INTERNATIONAL AOAC INTERNATIONAL ( www.aoac.org ) is a globally recognized, 501(c)(3), independent, third party, not-for-profit association and voluntary consensus standards developing organization founded in 1884. When analytical needs arise within a community or industry, AOAC INTERNATIONAL is the forum for finding appropriate science-based solutions through the development of microbiological and chemical standards. AOAC standards are used globally to promote trade and to facilitate public health and safety. Media Contact: Jonathan J. Goodwin, Senior Director, Membership, Human Resources, and Administration (301) 924-7077 (worldwide) or (800) 379-2622 (toll free North America) View original content with multimedia: http://www.prnewswire.com/news-releases/aoac-international-announces-new-executive-director-300639964.html SOURCE AOAC INTERNATIONAL

http://www.cnbc.com/2018/05/01/pr-newswire-aoac-international-announces-new-executive-director.html

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Czech Republic - Factors To Watch on May 2

PRAGUE, May 2 (Reuters) - Here are news stories, press reports and events to watch which may affect Czech financial markets on Wednesday. ALL TIMES GMT (Czech Republic: GMT + 2 hours) ECONOMIC DATA Real-time economic data releases Summary of economic data and forecasts Recently released economic data Previous stories on Czech data **For a schedule of corporate and economic events: here #/2E/events-overview NEWS/EVENTS CROWN DROPS: The crown trades slightly up after slumping in offshore trading onMay Day. It stood at 25.685 to the euro at 0625 GMT, after trading as low as 25.847 on Tuesday when the Czech market was closed. Wednesday's and Tuesday's levels are the weakest since December 28 last year. PMI: April purchasing managers index due out at 0730 GMT. BUDGET: April figures due out at 1200 GMT. FORTUNA: PSE said it would keep trading in betting firm Fortuna on the less regulated free market after the issuer pulled its stock from the main market. This is enabled by the fact that Fortuna still trades in Warsaw. The step may be temporary Fortuna plans to delist fully from all exchanges. BMW: Car maker BMW may get public aid worth 18.75 million euros to build a test centre for self-driving and electric vehicles in the Czech Republic under a memorandum approved by the Czech government on Monday. CEE MARKETS: The Czech crown fell to a three-and-a-half-month low on Monday ahead of a meeting of the country's central bank board on Thursday, while other Central European currencies were steady in thin pre-holiday trade. MARKET SNAPSHOT Index/Crown Currency Latest Prev Pct change Pct change close on day in 2018 vs Euro 25.688 25.547 -0.55 -0.63 vs Dollar 21.404 21.134 -1.28 -0.59 Czech Equities 1,115.93 1,115.93 -0.73 3.5 U.S. Equities 24,099.05 24,163.15 -0.27 -2.51 Pvs close or current levels vs prior domestic close at 1500 GMT PRESS DIGEST

https://www.reuters.com/article/czech-factors/czech-republic-factors-to-watch-on-may-2-idUSL8N1S91AT

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Enbridge Announces US$1.120 Billion Sale of U.S. Midstream Businesses

CALGARY, May 9, 2018 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced its indirect subsidiary, Enbridge (U.S.) Inc., has entered into a definitive agreement to sell Midcoast Operating, L.P. and its subsidiaries (Midcoast), which conducts the Company's U.S. natural gas and natural gas liquids (NGL) gathering, processing, transportation and marketing businesses, serving established basins in Texas, Oklahoma and Louisiana, to AL Midcoast Holdings, LLC (AL Midcoast) (an affiliate of ArcLight Capital Partners, LLC) for a cash purchase price of US$1.120 billion, subject to customary closing adjustments. The transaction is expected to close in the third quarter of 2018, subject to receipt of customary regulatory approvals and satisfaction of other customary closing conditions. "The sale of Midcoast is an important step in our shift towards a pure regulated pipeline and utility model, and positions us well to achieve our goal of selling CAD$3 billion in non-core assets in 2018," said Al Monaco, President and Chief Executive Officer of Enbridge. "This transaction includes our 100-percent-owned gathering and processing assets in Texas and Oklahoma. Proceeds from the sale will be used to accelerate the strengthening of our balance sheet and enhance the financial flexibility to fund our industry leading CAD$22 billion secured growth program." The Midcoast businesses include (i) natural gas gathering, treating, processing and transportation, and NGL transportation, assets located in the East Texas, Western Anadarko, and Barnett shale plays and consist of approximately 11,200 miles of natural gas gathering and transportation pipelines, 2,075 million cubic feet per day (MMcf/d) of natural gas processing capacity, and 1,330 MMcf/d of treating capacity, (ii) a NGL logistics and marketing business (including ELTM, L.P. and Enbridge Marketing (U.S.) L.P.), and (iii) a 35 percent interest in Texas Express Pipeline, consisting of a 594-mile, 20-inch NGL pipeline, and a 35 percent interest in Texas Express Gathering, consisting of 115 miles of NGL pipelines and other NGL infrastructure comprising the Company's Texas Express NGL pipeline system. "I'd like to thank our colleagues at Midcoast who have done an exceptional job running the business safely and reliably day-in and day-out. This sale places great people and great assets in a strong position for future growth," added Mr. Monaco. AL Midcoast intends to maintain Midcoast's workforce and anticipates that they will join AL Midcoast upon transaction close. AL Midcoast intends to retain a Houston presence. Enbridge will work with AL Midcoast to ensure a safe transition of Midcoast's operations. Citi acted as financial advisor and Norton Rose Fulbright US LLP acted as legal advisor to Enbridge on the transaction. Forward-Looking Statements Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: closing date of the transaction; use of proceeds from the transaction; AL Midcoast's intentions regarding Midcoast's workforce; AL Midcoast's intention to maintain an office in Houston; and the transition of Midcoast's operations. Although Enbridge believes these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to timing and completion of the transaction, including receipt of regulatory approvals; economic and competitive conditions; and completion of Enbridge's secured growth program. A further discussion of the risks and uncertainties facing Enbridge Inc. can be found in its filings with Canadian and United States securities regulators. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise. About Enbridge Inc. Enbridge Inc. is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 65% of U.S.-bound Canadian crude oil exports; and moves approximately 20% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec, and New Brunswick. Enbridge also has interests in more than 2,500 MW of net renewable generating capacity in North America and Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past nine years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB. Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com . FOR MORE INFORMATION PLEASE CONTACT: Media Suzanne Wilton Toll Free: (888) 992-0997 Email: suzanne.wilton@enbridge.com Investment Community Jonathan Gould Toll Free: (800) 481-2804 Email: investor.relations@enbridge.com View original content: http://www.prnewswire.com/news-releases/enbridge-announces-us1-120-billion-sale-of-us-midstream-businesses-300645413.html SOURCE Enbridge Inc.

http://www.cnbc.com/2018/05/09/pr-newswire-enbridge-announces-us1-point-120-billion-sale-of-u-s-midstream-businesses.html

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Vector: 1Q Earnings Snapshot

Published 5 Hours Ago The Associated Press MIAMI (AP) _ Vector Group Ltd. (VGR) on Wednesday reported first-quarter net income of $7.2 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Miami-based company said it had profit of 4 cents. The discount cigarette maker posted revenue of $429 million in the period. Vector shares have declined 12 percent since the beginning of the year. The stock has dropped 2.5 percent in the last 12 months. This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on VGR at https://www.zacks.com/ap/VGR Related Securities

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US STOCKS-Wall St falls as cost pressures rise, oil prices retreat

* Factory activity slows in April, raw material costs rise * Trump postpones steel tariffs on Canada, EU, Mexico * Pfizer sinks on biggest sales miss in four quarters * Apple gains ahead of results, boosts tech sector * Indexes down: Dow 1.1 pct, S&P 0.53 pct, Nasdaq 0.06 pct (Updates to early afternoon) May 1 (Reuters) - U.S. stocks fell on Tuesday, driven by Pfizer's discouraging results, tumbling oil prices and growing fears that tariffs and inflation could weigh on corporate profits. Data showed U.S. factory activity slowed for a second straight month in April, weighed down by shortages of skilled workers and rising capacity constraints, but strengthening global demand continued to support manufacturing. The Institute for Supply Management survey also showed a jump in raw material costs, with steel and other prices increasing due to tariffs imposed by the Trump administration. U.S. Commerce Secretary Wilbur Ross said the Trump administration was prepared to levy tariffs on China if an American delegation heading to Beijing did not reach a settlement on trade imbalances. The news came after Trump on Monday extended a temporary reprieve from metal tariffs for the EU, Canada and Mexico until June 1, just hours before they were due to come into force. While first-quarter corporate profits are expected to have notched their best growth in seven years, largely due to lower taxes, investors have focused on cost warnings from companies. "I think a lot of data is pointing to 2018 being a peak from many points of view," said Mona Mahajan, U.S. investment strategist at Allianz Global Investors in New York. "What's concerning is beyond this year, the momentum will slow. We're starting to see and what the market is starting to realize is a combination of perhaps the peak in momentum from earnings and economic perspective, combined with late-cycle rate-rising environment." At 12:43 p.m. ET, the Dow Jones Industrial Average was down 266.30 points, or 1.10 percent, at 23,896.85, the S&P 500 was down 14.11 points, or 0.53 percent, at 2,633.94 and the Nasdaq Composite was down 4.18 points, or 0.06 percent, at 7,062.08 Archer Daniels Midland, one of the largest exporters of U.S. sorghum to China, said it would take a $30 million hit to its trading profit in the second quarter due to the U.S.-China trade dispute. Nine of the 11 major S&P sectors were lower, with a 1.3 percent drop in the industrial sector the biggest. The energy sector fell 1.2 percent on the back of a more than 1 percent drop in crude oil prices as the dollar remained near a four-month high ahead of the Federal Reserve meet. Pfizer fell 4.3 percent, the most on the Dow, after posting its biggest miss on quarterly revenue in a year, on disappointing sales of some blockbuster drugs. The technology sector was the lone gainer, up 0.3 percent as Apple jumped 1.5 percent ahead of its quarterly report after the bell. Declining issues outnumbered advancers for a 2.16-to-1 ratio on the NYSE and for a 1.67-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 27 new lows, while the Nasdaq recorded 25 new highs and 66 new lows. (Reporting by Sruthi Shankar and Savio D'Souza in Bengaluru; Editing by Shounak Dasgupta)

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Univar Inc. Appoints Kerry J. Preete as Independent Director

DOWNERS GROVE, Ill., Univar Inc. (NYSE: UNVR) ("Univar"), a global chemical and ingredient distributor and provider of value-added services, announced that its board of directors has appointed Kerry J. Preete as an independent director, effective May 2, 2018. Univar became a public company in 2015 and has increased the number of independent directors from two in 2015 to eight with this appointment. "Kerry has a unique depth and breadth of international experience across a broad range of disciplines including distribution, product development, environmental stewardship, and mergers and acquisitions, which makes him well qualified to serve on our Board," said Steve Newlin, chairman and chief executive officer. "His deep experience in the agricultural end market will be particularly valuable support for Univar's growing agricultural business in the Americas, and his diverse business acumen, as well as his proven ability to provide executive leadership and new ideas across a wide range of markets, have made Kerry an advocate for strategic growth." Preete holds a bachelor of commerce degree from the University of Saskatchewan and a master's of business administration from Washington University in St. Louis. Mr. Preete is executive vice president and chief strategy officer at Monsanto Company, where he has served for over 30 years in roles of increasing responsibility, including president of the global crop protection chemicals business and executive leader of the U.S. markets businesses. He currently serves on the board of directors of PolyOne Corporation and is a member of the compensation and nominating and corporate governance committees. About Univar Inc. Founded in 1924, Univar (NYSE: UNVR) is a global chemical and ingredient distributor and provider of value-added services, working with leading suppliers worldwide. Supported by a comprehensive team of sales and technical professionals with deep specialty and market expertise, Univar operates hundreds of distribution facilities throughout North America, Western Europe, Asia-Pacific and Latin America. Univar delivers tailored customer solutions through a broad product and services portfolio sustained by one of the most extensive industry distribution networks in the world. For more information, visit www.univar.com. View original content with multimedia: http://www.prnewswire.com/news-releases/univar-inc-appoints-kerry-j-preete-as-independent-director-300641576.html SOURCE Univar Inc.

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Rosemary T. Berkery Joins the Board of Directors of Mutual of America Life Insurance Company

NEW YORK, May 9, 2018 /PRNewswire/ -- Mutual of America Life Insurance Company , which specializes in providing retirement products and related services to organizations and individuals, announced the appointment of Rosemary T. Berkery to its Board of Directors. Ms. Berkery, a highly accomplished financial services executive, recently retired from UBS Financial Services, Inc., where she served as Vice Chairman of UBS Wealth Management Americas and Chairman/CEO of UBS Bank USA. Ms. Berkery has extensive experience and expertise in wealth management, banking, mergers and acquisitions, private equity, securities research and strategy/marketing. "I am delighted that Rosemary has joined the Company's Board of Directors," said John Greed, Chairman, President and CEO of Mutual of America. "Her leadership, extensive experience in the financial services industry and philanthropic activities position her well to make meaningful contributions to the Board and to the long-term growth and success of the Company." Prior to joining UBS, Ms. Berkery, had a 25-year career at Merrill Lynch & Co., where she held various leadership positions, including Vice Chair, Executive Vice President and General Counsel. In this role, she served as an advisor to Merrill Lynch's Board of Directors, Chairman and CEO, and Executive Management Team, and managed the firm's global legal and compliance departments, comprised of 950 professionals in 20 countries. Over the course of her career, Ms. Berkery has been honored by Fortune as one of "5 Women to Watch"; by Crain's New York Business as one of the "Top 100 Professional Women in New York"; and by the YMCA as one of its "100 Top Women Achievers." She was also profiled by the Financial Times in an article entitled, "Rosemary Berkery: Wall Street's Woman of Influence." Ms. Berkery earned a bachelor's degree in English from the College of Mount Saint Vincent and a J.D. from St. John's University School of Law. She serves as a member of the Board of Directors of Fluor Corporation, an NYSE-listed company. Among her philanthropic activities, she serves on the Board of Regents of Georgetown University, the Boards of Trustees of The Catholic Charities of the Archdiocese of New York, Regis High School, The School of American Ballet and the College of Mount Saint Vincent. About Mutual of America Since 1945, Mutual of America has remained committed to offering plan sponsors, plan participants and individuals carefully selected, quality products and services at a competitive price and the personal attention they need to help build and preserve assets for a financially secure future. For more information, visit mutualofamerica.com . View original content with multimedia: http://www.prnewswire.com/news-releases/rosemary-t-berkery-joins-the-board-of-directors-of-mutual-of-america-life-insurance-company-300645618.html SOURCE Mutual of America Life Insurance Company

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Alibaba’s Profit Falls as E-Commerce Giant Ramps Up Investments

Chinese e-commerce giant Alibaba Group Holding Ltd. says it expects revenue to grow 60% in the next year, as its core commerce business and cloud computing business attracts more customers. Alibaba reported its fourth-quarter profit fell 29% to 7.56 billion yuan ($1.21 billion) from a year ago, in part due to a one-time gain from the disposal of assets including Chinese internet firm MoMo Inc. in the same period a year ago. Excluding the one-off disposal, net income in the quarter ending March 31 rose 37%, the company said... To Read the Full Story Subscribe Sign In

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Your first trade for Friday, May 18

The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of EOG Resources . Karen Finerman was a buyer of Golar . Steve Grasso was a buyer of Alibaba . Guy Adami was a buyer of Advanced Micro Devices . Trader disclosure: On May 18, 2018, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AMZA, ACB.TO, APC, APH.TO, BABA, BAC, BX, C, CCJ, CLF, CMG, CRON, CSCO, CX, DAL, DPZ, DVYE, EEM, ERJ, EUFN, EWM, FB, FXI, GE, GILD, GM, GOOGL, GWPH, HAL, INTC, JD, LEAF, MAT, MCD, MO, MOS, MPEL, PAK, PHM, PYPL, RH, RL, SBUX, SQ, T, TIF, TWTR, UA, UAL, VALE, VIAB, VOD, X, XLE, XRT, YNDX, 700.HK. Tim is short IWM, RACE, SPY. Karen Finerman's firm is long ANTM, C, FB, FL, FNAC, GOOG, GOOGL, GLNG, GMLP, INTC, JPM, KORS puts, LYV, PAH, SPY puts, SPY put spreads, WIFI. Her firm is short IWM. Karen Finerman is long AAL, BAC, BOT Bitcoin, Bitcoin Cash, Ethereum, C, CAT, DAL, DVYE, DXJ, EEM, EPI, EWW, EWZ, DVYE, FB, FL, GM, GMLP, GLNG, GOOG, GOOGL, INTC, JPM, LYV, KFL, KORS, KORS calls, MA, MTW, PAH, SEDG, SPY puts, TACO, WIFI, WFM. Karen Finerman is short TBT calls. Bitcoin and Ethereum are in her kids' Trust. Steve Grasso is long stock AAPL, BABA, CAR, EVGN, GE, JCP, MJNA, MON, MTCH, OSTK, PFE, RAD, SNAP, SQ, T, TSLA, TWTR, VRX. Grasso owns Callable Trigger contingent yield note linked to SPX, RTY, and MXEA. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. Grasso's firm is long stock AMD, COTY, CTL, CUBA, DIA, F, GE, GLD, GSK, HPQ, IAU, IBM, ICE, LEN, MAT, MJNA, MSFT, NE, QCOM, RIG, SNAP, SNGX, SPY, T, TMUS, TWX, UA, WDR, WHR, XRX, ZNGA. Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck.

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COLUMN-Daycare costs harder to afford than college for many

COLUMN-Daycare costs harder to afford than college for many Gail MarksJarvis (The opinions expressed here are those of the author, a columnist for Reuters.) CHICAGO, May 23 (Reuters) - Americans are not having enough babies. The nations fertility rate hit a record low in 2017, and one has to wonder: Could the cost of raising children be discouraging a generation that was choked by the Great Recession? Employment is strong, but pay has been stagnant. College student loans average $35,000, and renting or buying a home is unaffordable in most metro areas. Throw daycare costs of $10,000 a child into the mix, and families ask themselves: How can they afford a baby? Childcare is the third-largest expense in the family budget, behind food and housing, according to the U.S. Department of Agriculture, which calculated last year that middle class families spend $233,610 raising a child to the age of 18. Daycare is a crisis and a much bigger problem than college, says Betsey Stevenson, an associate professor of public policy at the University of Michigan, who wonders why there is not a massive public outcry for relief. Both presidential candidates raised the issue in the last campaign, and Congress then doubled the child tax credit to $2,000. But there has been no daycare legislation. Rather than organizing politically, it appears that 20- and 30-somethings are voting with their reproductive systems. The only age group with a rising fertility rate in 2017 was women 40 to 44 years old, according to the National Center for Health Statistics. In addition, 20 percent of parents in a Care.com survey said they would have fewer children than they wanted because of childcare costs. Lisa Anderson, 30, is among the stressed-out mothers. She commutes daily from a rural home to work at her government consulting job in downtown St. Paul, Minnesota, devoting a quarter of her family income to her 10-month-old sons daycare. She worries how she and her husband will afford a second child. Daycare for one baby costs close to $10,000; with two, it would total half of the couples take-home income. With about $1,000 in monthly student loan payments, Im starting to regret what I spent on graduate school, Anderson said. But she and others in her generation cannot undo past decisions, they can only control when and if they'll have children. BIG COSTS For working parents, daycare costs are rising at almost twice the nations inflation rate since the recession. Government guidelines suggest a ratio of 10 percent of income for childcare. But the median family with children under six earned $68,808 in 2016, about $20,000 short of making the median $8,320 annual daycare cost affordable, according to a Brookings Institute analysis of Census data. Infant care at $10,400 is harsher, and the quality daycare preferred by people with incomes over $150,000 costs $11,652, according to Brookings analyst Grover Whitehurst. In expensive areas of the country, that goes up to $18,000 per child. Nannies are even more costly averaging about $28,905 a year nationally, according to Care.com. As a result, only about 4 percent of families use them, according to Census data. Most parents have limited options for cutting costs other than drawing on help from family, sharing caregivers, compromising quality and having fewer children. Some states offer subsidies, but most go to low-income people. Families get a little tax relief if they claim the Child and Dependent Care Tax Credit at tax time or use a flexible spending account at work to stash money away for childcare on a pre-tax basis. Financial planners calm parents by telling them they can catch up with retirement and college saving after their children enter school. But Rachel Brewer, a San Diego mother of three children between seven and nine, questions that. Kids were the cheapest when babies. I spent $5 for a can of formula. Now, I sweat bullets every time I take the kids to the dentist, she said. (Editing by Beth Pinsker and Dan Grebler)

https://www.cnbc.com/2018/05/23/reuters-america-column-daycare-costs-harder-to-afford-than-college-for-many.html

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BG Staffing, Inc. Announces Proposed Public Offering of Common Stock

PLANO, Texas, May 24, 2018 /PRNewswire/ -- BG Staffing, Inc. (NYSE American: BGSF), a rapidly growing national provider of professional temporary staffing services, today announced that it intends to offer newly issued shares of its common stock in an underwritten public offering. Roth Capital Partners and Taglich Brothers, Inc. are acting as joint book-running managers for the offering. The offering is subject to market conditions. The Company intends to use the net proceeds received from the sale of the common stock to reduce outstanding indebtedness and for general corporate purposes; however, a portion of the net proceeds may also be used to cancel outstanding stock options currently held by L. Allen Baker, Jr., BG Staffing's president and chief executive officer. A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (SEC) and is effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, may be obtained from Roth Capital Partners, 888 San Clemente Drive, Newport Beach, California 92660, Attn: Equity Capital Markets, via telephone at (800) 678-9147 or via email at rothecm@roth.com , or from Taglich Brothers, Inc., 275 Madison Avenue, Suite 1618, New York, New York 10016, Attn: Equity Capital Markets, via telephone (212) 661-6886 or via email at schroeder@taglichbrothers.com , or by accessing the SEC's website, www.sec.gov . About BG Staffing, Inc. Headquartered in Plano, Texas, BG Staffing provides staffing services to a variety of industries through its various divisions. BG Staffing is primarily a professional temporary staffing platform that has integrated several regional and national brands. Forward-Looking Statements The are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. The Company's actual results could differ materially from those indicated by because of various risks and uncertainties including those listed in Item 1A of the Company's Annual Report on Form 10-K and in the Company's other filings and reports with the SEC, including in the "Risk Factors' section of the preliminary prospectus supplement. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the . When used , the words "believes," "plans," "expects," "will," "intends," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify . Except as required by law, the Company is not obligated to publicly release any revisions to these to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. CONTACT: Terri MacInnis, VP of Investor Relations Bibicoff + MacInnis, Inc. 818.379.8500 terri@bibimac.com View original content with multimedia: http://www.prnewswire.com/news-releases/bg-staffing-inc-announces-proposed-public-offering-of-common-stock-300654697.html SOURCE BG Staffing, Inc.

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McClatchy Holds 2018 Annual Meeting Of Shareholders

SACRAMENTO, Calif., May 17, 2018 /PRNewswire/ -- The McClatchy Company (NYSE American: MNI) shareholders today elected 12 directors to one-year terms and ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2018. Shareholders elected Anjali Joshi, who has served as a board member since July of 2017, as a new Class A director and also re-elected Maria Thomas and Elizabeth Ballantine as Class A directors. Class B shareholders elected Vijay Ravindran, who has served as a board member since January of 2018, and Clyde Ostler, who served as a Class A director for five years, as a new Class B directors. Leroy Barnes, Jr., Molly Maloney Evangelisti, Craig I. Forman, Brown McClatchy Maloney, Kevin S. McClatchy, William McClatchy, and Theodore R. Mitchell were re-elected as Class B directors. Craig Forman, McClatchy's president and CEO, provided an update on McClatchy's business through the first quarter of 2018, including the company's continued focus on journalism that is essential to our communities and its strategies to continue its successful digital transformation. An audio recording of Forman's speech and a copy of the presentation will be available at www.mcclatchy.com . About McClatchy McClatchy operates 30 media companies in 14 states, providing each of its communities with strong independent local journalism in the public interest and advertising services in a wide array of digital and print formats. McClatchy is a publisher of iconic brands including the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News & Observer, and the (Fort Worth) Star-Telegram. McClatchy is headquartered in Sacramento, Calif., and listed on the New York Stock Exchange American under the symbol MNI. #ReadLocal Additional Information Statements in this press release regarding future financial and operating results, including our strategies for success and their effects, our real estate monetization efforts and the repurchase of outstanding notes, revenues, and management's efforts with respect to cost reduction efforts and efficiencies, cash expenses, revenues, adjusted EBITDA, debt levels, interest costs and creation of shareholder value as well as future opportunities for the company and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute as defined in the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be . There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such , including: McClatchy may not generate cash from operations, or otherwise, necessary to reduce debt or meet debt covenants as expected; we may not be successful in reducing debt whether through tenders offers, open market repurchase programs or other negotiated transactions; including sales of real estate properties may not close as anticipated or result in cash distributions in the amount or timing anticipated; McClatchy may not successfully implement audience strategies designed to increase audience revenues and may experience decreased audience volumes or subscriptions; McClatchy may experience diminished revenues from advertising; McClatchy may not achieve its expense reduction targets including efforts related to legacy expense initiatives or may do harm to its operations in attempting to achieve such targets; McClatchy's operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; increases in the cost of newsprint; bankruptcies or financial strain of its major advertising customers; litigation or any potential litigation; geo-political uncertainties including the risk of war; changes in printing and distribution costs from anticipated levels, including changes in postal rates or agreements; changes in interest rates; changes in pension assets and liabilities; changes in factors that impact pension contribution requirements, including, without limitation, the value of the company-owned real property that McClatchy has contributed to its pension plan; increased consolidation among major retailers in our markets or other events depressing the level of advertising; our inability to negotiate and obtain favorable terms under collective bargaining agreements with unions; competitive action by other companies; an inability to fully implement and execute its share repurchase plan; and other factors, many of which are beyond our control; the Company may not be able to successfully refinance its 9.0% Senior Secured Notes due 2022; the company may not be able to consummate the debt refinancing transaction with Chatham; as well as the other risks detailed from time to time in the company's publicly filed documents, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2017, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release. View original content with multimedia: http://www.prnewswire.com/news-releases/mcclatchy-holds-2018-annual-meeting-of-shareholders-300650690.html SOURCE McClatchy

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Gibson Brands Reaches Restructuring Support Agreement to Reorganize Around Core Businesses

NASHVILLE, Tenn., May 1, 2018 /PRNewswire/ -- Gibson Brands Inc. ("Gibson" or "the Company") , today announced it will be re-focusing the Company on the manufacturing of world-class, musical instruments and professional audio products and the continued development of the Company's portfolio of iconic, globally-recognized brands including Gibson and Epiphone, by reorganizing around its core businesses. The Company has reached a "Restructuring Support Agreement" with holders of more than 69.0% in principal amount of its 8.875% Senior Secured Notes due 2018, and its principal shareholders, that clears the pathway for the continued financing and operations of the musical instruments business as well as a change of control in favor of those noteholders. To implement the agreement, the Company and its U.S. subsidiaries today filed pre-negotiated reorganization cases under Chapter 11 of the U.S. Bankruptcy Code. The filings will allow the Company's Musical Instruments and Professional Audio businesses to continue to design, build, sell, and manufacture legendary Gibson and Epiphone guitars, as well as KRK and Cerwin Vega studio monitors and loud speakers, without interruption. The Restructuring Support Agreement provides funding for the musical instrument and professional audio businesses, supports the Company's key vendors, shippers and suppliers, and provides for the restructuring of the Company's balance sheet. Gibson will emerge from Chapter 11 with working capital financing, materially less debt, and a leaner and stronger musical instruments-focused platform that will allow the Company and all of its employees, vendors, customers and other critical stakeholders to succeed. Henry Juszkiewicz, Chairman and Chief Executive Officer of Gibson Brands, and David Berryman, Gibson's President, will each continue with the Company upon emergence from Chapter 11 to facilitate a smooth transition during this change of control transaction and to support the Company in realizing future value from its core business. The Company's Gibson Innovations business, which is largely outside of the U.S. and independent of the Musical Instruments business, will be wound down. The wind-down of the Company's GI Business is not expected to impact the Company's reorganization around its core Musical Instruments/Pro Audio business. "Over the past 12 months, we have made substantial strides through an operational restructuring," said Mr. Juszkiewicz. "We have sold non-core brands, increased earnings, and reduced working capital demands. The decision to re-focus on our core business, Musical Instruments, combined with the significant support from our noteholders, we believe will assure the company's long-term stability and financial health. "Importantly, this process will be virtually invisible to customers, all of whom can continue to rely on Gibson to provide unparalleled products and customer service." In conjunction with the restructuring, the Company received commitments for $135 million of debtor-in-possession financing from its existing noteholders. This financing, combined with cash generated from its operations, will provide the Company with the liquidity necessary to maintain its operations in the ordinary course during its reorganization proceedings. The Company filed a series of motions that, pending Court approval, will allow the Company to operate its business throughout the process in the ordinary course, and to provide support to critical business-partners including vendors, shippers, and suppliers. The first day motions will allow the Company to continue to buy goods, manufacture and distribute its products to its customer base and continue to honor its warranty policies in the ordinary course. "We are grateful for the continued support from our employees, customers, dealers, partners and suppliers as we move through the restructuring process," said Mr. Juszkiewicz. "The Gibson name is synonymous with quality and today's actions will allow future generations to experience the unrivaled sound, design and craftsmanship that our employees put into each Gibson product." Additional information is available by calling Gibson's Restructuring Hotline, toll-free in the U.S. at 1-844-240-1258. For calls originating outside the U.S., please dial 1-929-477-8085, Email inquiries can be sent to gibsoninfo@primeclerk.com . Court filings and other documents related to the court proceedings are available on a separate website administered by Gibson's claims agent, Prime Clerk, at https://cases.primeclerk.com/gibson . Alvarez and Marsal is serving as Gibson's Chief Restructuring Officer; Jefferies LLC is its financial advisor and Goodwin is providing legal counsel. Paul, Weiss, Rifkind, Wharton & Garrison LLP is providing legal counsel, and PJT Partners is the financial advisor, to the ad hoc group of unaffiliated noteholders that is supporting the Company's restructuring. Cautionary Statement Regarding Forward-Looking Statements This press release contains the U.S. securities laws. Forward-looking statements may include, but are not limited to, statements relating to our outlook and future financial performance, including the illustrative Adjusted EBITDA range described above. In some cases, you can identify by terminology such as "believes," "anticipates," "plans," "expects," "intends," "estimates," "projects," "should," "will," "may," "would," "contemplates," "aims," "pro forma" and "might," the negative of such terms or other comparable terminology. Forward-looking statements reflect our current views about future events, are based on estimates and assumptions and are subject to known and unknown risks, uncertainties and contingencies. Many important factors could cause actual results or achievements to differ materially from any future results or achievements expressed in or implied by our , including the factors listed below. Many of the factors that will determine future events or achievements are beyond our ability to control or predict. The Company's actual results could differ materially from those stated or implied in due to a number of factors, including but not limited to, risks detailed in the Company's posting, dated April 4. 2018, to its intralinks website that may be accessed by certain persons in accordance with the indenture governing the Company's outstanding debt securities. The included herein reflect our views and assumptions only as of the date of this press release. You should not place undue reliance on . We assume no responsibility to update any and we do not currently intend to provide additional guidance in the future. ABOUT GIBSON Gibson Brands , one the fastest-growing companies in the music and sound industries, was founded in 1894 and is headquartered in Nashville, TN. Gibson Brands is a global leader in musical instruments, and consumer and professional audio, and is dedicated to bringing the finest experiences by offering exceptional products with world-recognized brands. Gibson has a portfolio of over 100 well-recognized brand names starting with the number one guitar brand, Gibson. Other brands include: Epiphone, Dobro, Valley Arts, Kramer, Steinberger, Tobias, Slingerland, Maestro, Baldwin, Hamilton, Chickering and Wurlitzer. Audio brands include: KRK Systems, TASCAM, Cerwin-Vega!, Stanton, Integra, TEAC, TASCAM Professional Software, and Esoteric. All Gibson Brands are dedicated to innovation, prestige and improving the quality of life of our customers. View original content: http://www.prnewswire.com/news-releases/gibson-brands-reaches-restructuring-support-agreement-to-reorganize-around-core-businesses-300639935.html SOURCE Gibson Brands Inc.

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Leju Reports First Quarter 2018 Results

BEIJING, May 28, 2018 /PRNewswire/ -- Leju Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading online-to-offline ("O2O") real estate services provider in China, today announced its unaudited financial results for the fiscal quarter ended March 31, 2018. First Quarter 2018 Financial Highlights Total revenues increased by 19% year-on-year to $81.5 million - Revenues from e-commerce services increased by 40% year-on-year to $53.5 million - Revenues from online advertising services increased by 5% year-on-year to $27.1 million Loss from operations was $31.5 million, a decrease of 32% from $46.3 million for the same quarter of 2017. Non-GAAP [1] loss from operations was $27.1 million, a decrease of 35% from $41.8 million for the same quarter of 2017 Net loss attributable to Leju Holdings Limited shareholders was $20.9 million, or $0.15 loss per diluted American depositary share ("ADS"), a decrease of 26% from $28.2 million, or $0.21 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $17.3 million, or $0.13 loss per diluted ADS, a decrease of 29% from $24.2 million, or $0.18 loss per diluted ADS, for the same quarter of 2017 [1] Leju uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to Leju shareholders, (4) net income (loss) attributable to Leju shareholders per basic ADS, and (5) net income (loss) attributable to Leju shareholders per diluted ADS, each of which excludes share-based compensation expense and amortization of intangible assets resulting from business acquisitions. See "About Non-GAAP Financial Measures" and "Unaudited Reconciliation of GAAP and Non-GAAP Results" below for more information about the non-GAAP financial measures included in this press release. "I'm pleased that our businesses returned to a growth trajectory in the first quarter of 2018 despite the overall market environment not showing signs of major improvement," said Mr. Geoffrey He, Leju's Chief Executive Officer. "Our e-commerce business had a strong recovery, benefitting from larger contribution from lower-tier cities and higher value per coupon. We also entered into annual framework contracts with many leading real estate developers. Our online advertising business achieved steady growth in the first quarter as a result of our big-data based suite of targeted advertising products, which continued to be well received by the market. Meanwhile, we further enhanced our media influence and content productivity through enhancing 'Leju Finance', our recently launched real estate vertical media platform, which helped lay a solid foundation for future growth. In addition, our efforts to streamline our cost structure began to show results in the first quarter. We will continue to improve our operational efficiency and aim to return to profitability. " First Quarter 2018 Results Total revenues were $81.5 million, an increase of 19% from $68.3 million for the same quarter of 2017, mainly due to an increase in revenues from e-commerce services and online advertising services. Revenues from e-commerce services were $53.5 million, an increase of 40% from $38.1 million for the same quarter of 2017, primarily due to increases in the average price per discount coupon redeemed. Revenues from online advertising services were $27.1 million, an increase of 5% from $25.8 million for the same quarter of 2017, primarily due to an increase in property developers' demand for online advertising. Revenues from listing services were $0.9 million, a decrease of 79% from $4.4 million for the same quarter of 2017, primarily due to a decrease in secondary real estate brokers' demand. Cost of revenues was $18.7 million, an increase of 32% from $14.1 million for the same quarter of 2017, primarily due to increased cost of advertising resources purchased from media platforms, partially offset by decreased staff cost as a result of headcount change. Selling, general and administrative expenses were $95.2 million, a decrease of 5% from $100.5 million for the same quarter of 2017, primarily due to lower staff cost as a result of headcount change. Loss from operations was $31.5 million, a decrease of 32% from $46.3 million for the same quarter of 2017. Non-GAAP loss from operations was $27.1 million, a decrease of 35% from $41.8 million for the same quarter of 2017. Net loss was $21.3 million, a decrease of 26% from $28.6 million for the same quarter of 2017. Non-GAAP net loss was $17.7 million, a decrease of 28% from $24.7 million for the same quarter of 2017. N et loss attributable to Leju Holdings Limited shareholders was $20.9 million, or $0.15 loss per diluted ADS, a decrease of 26% from $28.2 million, or $0.21 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $17.3 million, or $0.13 loss per diluted ADS, a decrease of 29% from $24.2 million, or $0.18 loss per diluted ADS, for the same quarter of 2017. Cash Flow As of March 31, 2018, the Company's cash and cash equivalents balance was $157.2 million. First quarter 2018 net cash provided by operating activities was $1.0 million, primarily comprised of non-GAAP net loss of $17.7 million, partially offset by a decrease in customer deposit of $17.5 million. Business Outlook The Company estimates that its total revenues for the second quarter of 2018 will be approximately $106 million to $111 million, which would represent an increase of approximately 15% to 20% from $92.7 million in the same quarter in 2017. This forecast reflects the Company's current and preliminary view, which is subject to change. Conference Call Information Leju's management will host an earnings conference call on May 28, 2018 at 7 a.m. U.S. Eastern Time (7 p.m. Beijing/Hong Kong time). Dial-in details for the earnings conference call are as follows: U.S./International: +1-845-675-0437 Hong Kong: +852-3018-6771 Mainland China: +400-620-8038 Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "Leju earnings call." A replay of the conference call may be accessed by phone at the following number until June 5, 2018: U.S./International: +1-855-452-5696 Hong Kong: +800-963-117 Mainland China: +400-632-2162 Passcode: 4696567 Additionally, a live and archived webcast will be available at http://ir.leju.com . About Leju Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading online-to-offline, or O2O, real estate services provider in China, offering real estate e-commerce, online advertising and online listing services. Leju's integrated online platform comprises various mobile applications along with local websites covering more than 370 cities, enhanced by complementary offline services to facilitate residential property transactions. In addition to the Company's own websites, Leju operates the real estate and home furnishing websites of SINA Corporation, and maintains a strategic partnership with Tencent Holdings Limited. For more information about Leju, please visit http://ir.leju.com . Safe Harbor: Forward-Looking Statements This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Leju may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Leju's beliefs and expectations, are forward-looking statements that involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements. Such factors include, but are not limited to, fluctuations in China's real estate market; the highly regulated nature of, and government measures affecting, the real estate and internet industries in China; Leju's ability to compete successfully against current and future competitors; its ability to continue to develop and expand its content, service offerings and features, and to develop or incorporate the technologies that support them; its limited operating history and lack of experience as a stand-alone public company, given its carve-out from E-House and prior reliance on E-House for various corporate services; its reliance on SINA and others with which it has developed, or may develop in the future, strategic partnerships; substantial revenue contribution from a limited number of real estate markets; complexities resulting from its ongoing relationships with E-House, due to E-House's status as a principal shareholder of Leju; and relevant government policies and regulations relating to the corporate structure, business and industry of Leju. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. About Non-GAAP Financial Measures To supplement Leju's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Leju uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to Leju shareholders, (4) net income (loss) attributable to Leju shareholders per basic ADS, and (5) net income (loss) attributable to Leju shareholders per diluted ADS, each of which excludes share-based compensation expense and amortization of intangible assets resulting from business acquisitions. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release. Leju believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding its operating performance by excluding share-based compensation expense, and amortization of intangible assets resulting from business acquisitions, which may not be indicative of Leju's operating performance. These non-GAAP financial measures also facilitate management's internal comparisons to Leju's historical performance and assist its financial and operational decision making. A limitation of using these non-GAAP financial measures is that share-based compensation expense and amortization of intangible assets resulting from business acquisitions may continue to exist in Leju's business for the foreseeable future. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables provide more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures. For investor and media inquiries please contact: Ms. Christina Wu Leju Holdings Limited Phone: +86 (10) 5895-1062 E-mail: ir@leju.com Philip Lisio Foote Group Phone: +86 135-0116-6560 E-mail: phil@thefootegroup.com LEJU HOLDINGS LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars) December 31, March 31, 2017 2018 ASSETS Current assets Cash and cash equivalents 150,968 157,159 Restricted cash 337 350 Accounts receivable, net 79,196 77,504 Contract assets 1,410 1,571 Marketable securities 3,077 3,115 Prepaid expenses and other current assets 9,945 9,104 Customer deposits 35,823 16,066 Amounts due from related parties 4,077 1,248 Total current assets 284,833 266,117 Property and equipment, net 14,240 14,176 Intangible assets, net 70,631 67,149 Investment in affiliates 146 132 Deferred tax assets 67,084 69,709 Other non-current assets 2,010 1,692 Total assets 438,944 418,975 LIABILITIES AND EQUITY Current liabilities Accounts payable 2,950 1,968 Accrued payroll and welfare expenses 37,082 27,794 Income tax payable 63,380 56,428 Other tax payable 11,654 11,337 Amounts due to related parties 3,093 10,045 Advance from customers and deferred revenue 10,565 12,878 Accrued marketing and advertising expenses 18,852 22,617 Other current liabilities 16,315 18,239 Total current liabilities 163,891 161,306 Deferred tax liabilities 18,016 18,721 Total liabilities 181,907 180,027 Shareholders' Equity Ordinary shares ($0.001 par value): 1,000,000,000 shares authorized, 135,763,962 and 135,763,962 shares issued and outstanding, as of December 31, 2017 and March 31, 2018, respectively 136 136 Additional paid-in capital 788,589 789,579 Accumulated deficit (515,344) (536,226) Accumulated other comprehensive loss (13,078) (10,766) Total Leju Holdings Limited shareholders' equity 260,303 242,723 Non-controlling interests (3,266) (3,775) Total equity 257,037 238,948 TOTAL LIABILITIES AND EQUITY 438,944 418,975 LEJU HOLDINGS LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except share data and per share data) Three months ended March 31, 2017 2018 Revenues E-commerce 38,091 53,470 Online advertising 25,793 27,130 Listing 4,424 923 Total revenues 68,308 81,523 Cost of revenues (14,130) (18,675) Selling, general and administrative expenses (100,521) (95,178) Other operating income 71 830 Loss from operations (46,272) (31,500) Interest income 283 287 Other income, net 128 2,837 Loss before taxes and loss from equity in affiliates (45,861) (28,376) Income tax benefit 17,293 7,117 Loss before loss from equity in affiliates (28,568) (21,259) Loss from equity in affiliates (76) (19) Net Loss (28,644) (21,278) Less: net loss attributable to non-controlling interests (471) (416) Loss attributable to Leju Holdings Limited shareholders (28,173) (20,862) Loss per share: Basic/ Diluted (0.21) (0.15) Shares used in computation of loss per share: Basic/ Diluted 135,541,514 135,763,962 Note 1 The conversion of functional currency Renminbi ("RMB") amounts into reporting currency USD amounts is based on the rate of USD1 = RMB6.2881 on March 31, 2018 and USD1 = RMB6.4088 for the three months ended March 31, 2018 LEJU HOLDINGS LIMITED UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (In thousands of U.S. dollars) Three months ended March 31, 2017 2018 Net loss (28,644) (21,278) Other comprehensive loss, net of tax of nil Foreign currency translation adjustment 1,243 2,209 Comprehensive loss (27,401) (19,069) Less: Comprehensive loss attributable to non-controlling interest (478) (518) Comprehensive loss attributable to Leju Holdings Limited shareholders (26,923) (18,551) LEJU HOLDINGS LIMITED Unaudited Reconciliation of GAAP and Non-GAAP Results (In thousands of U.S. dollars, except share data and per ADS data) Three months ended March 31, 2017 2018 GAAP loss from operations (46,272) (31,500) Share-based compensation expense 1,422 979 Amortization of intangible assets resulting from business acquisitions 3,031 3,450 Non-GAAP loss from operations (41,819) (27,071) GAAP net loss (28,644) (21,278) Share-based compensation expense (net of tax) 1,422 979 Amortization of intangible assets resulting from business acquisitions (net of tax) 2,570 2,633 Non-GAAP net loss (24,652) (17,666) Net loss attributable to Leju Holdings Limited shareholders (28,173) (20,862) Share-based compensation expense (net of tax and non- controlling interests) 1,414 971 Amortization of intangible assets resulting from business acquisitions (net of tax and non-controlling interests) 2,570 2,633 Non-GAAP net loss attributable to Leju Holdings Limited shareholders (24,189) (17,258) GAAP net loss per ADS -- basic/ diluted (0.21) (0.15) Non-GAAP net loss per ADS -- basic/ diluted (0.18) (0.13) Shares used in calculating basic GAAP / non-GAAP net loss attributable to Leju Holdings Limited shareholders per ADS 135,541,514 135,763,962 Shares used in calculating diluted GAAP / non-GAAP net loss attributable to Leju Holdings Limited shareholders per ADS 135,541,514 135,763,962 LEJU HOLDINGS LIMITED SELECTED OPERATING DATA Three months ended March 31, 2017 2018 Operating data for e-commerce services Number of discount coupons issued to prospective purchasers (number of transactions) 43,449 19,678 Number of discount coupons redeemed (number of transactions) 18,987 13,799 View original content: http://www.prnewswire.com/news-releases/leju-reports-first-quarter-2018-results-300655391.html SOURCE Leju Holdings Limited

http://www.cnbc.com/2018/05/28/pr-newswire-leju-reports-first-quarter-2018-results.html

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Dr. Kelle H. Moley Appointed Senior Vice President and Chief Science Officer By March of Dimes

WHITE PLAINS, N.Y., May 17, 2018 /PRNewswire-USNewswire/ -- Kelle H. Moley, MD, has been named Senior Vice President and Chief Scientific Officer of March of Dimes, it was announced today. In her new position, Dr. Moley is responsible for the strategic direction and oversight of March of Dimes research. This portfolio includes the international network of six March of Dimes Prematurity Research Centers, which are seeking to find the unknown causes of preterm birth and new ways to prevent it. "We are thrilled to have Dr. Moley join the leadership of March of Dimes. Her background and expertise in women's health and reproduction are exactly what our organization is looking for to advance our research, grow our knowledge, and improve the health of all moms and babies," says Stacey D. Stewart, president of the March of Dimes. "It is a great honor to be joining March of Dimes. Their approach to research is innovative and the science is making tremendous strides. I am proud to spearhead these efforts and join this organization that is leading the fight for maternal and infant health," says Dr. Moley. Until recently, Dr. Moley was the James P. Crane Professor of Obstetrics and Gynecology, and vice chair and chief of the Division of Basic Science Research in the Department of Obstetrics and Gynecology at Washington University School of Medicine in St. Louis. She was also a professor of cell biology and physiology. Dr. Moley's particular research interest is maternal obesity and diabetes before and during pregnancy and the long term effects on infant health. She is the principal investigator on several National Institutes of Health grants exploring aspects of reproductive biology and risk. A native of Connecticut, Dr. Moley earned her B.A. from Wellesley College, her medical degree from Yale University, and completed her residency in OB-GYN, as well as a fellowship in reproductive endocrinology and Infertility, at Washington University School of Medicine. She is board-certified in obstetrics and gynecology, and was elected a member of the National Academy of Medicine (formerly the Institute of Medicine) in 2014. She is a past president of the Society for Reproductive Investigation. She resides in St. Louis, Missouri with her three adult sons, Patrick, Charles and John. About March of Dimes March of Dimes leads the fight for the health of all moms and babies. We support research, lead programs and provide education and advocacy so that every family can have the best possible start. Building on a successful 80-year legacy of impact and innovation, we stand up for every mom and every baby. Visit marchofdimes.org or nacersano.org for more information. Visit shareyourstory.org for comfort and support. Find us on Facebook and follow us on Instagram and Twitter . View original content with multimedia: http://www.prnewswire.com/news-releases/dr-kelle-h-moley-appointed-senior-vice-president-and-chief-science-officer-by-march-of-dimes-300650852.html SOURCE March of Dimes

http://www.cnbc.com/2018/05/17/pr-newswire-dr-kelle-h-moley-appointed-senior-vice-president-and-chief-science-officer-by-march-of-dimes.html

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GLOBAL MARKETS-Dollar hits 2018 high amid Iran pact worry; crude slumps

(Adds U.S. market open, byline, dateline; previous LONDON) * Brent drops ahead of news on U.S. sanctions on Iran * Italian shares, bonds drop on election uncertainty NEW YORK, May 8 (Reuters) - The U.S. dollar hit fresh 2018 highs on Tuesday on safe-haven demand amid expectations President Donald Trump will pull out of a key nuclear accord with Iran, while oil prices slumped ahead of news on whether the U.S. will reinstate sanctions on Iran. U.S. officials indicated late Monday that Trump would withdraw from the deal but it was unclear on what terms and whether sanctions would be announced, said a senior European official closely involved in Iran diplomacy. Brent crude futures dropped 3.1 percent to $73.82 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 3.2 percent at $68.45. Equity markets in the U.S. and Europe edged lower, weighed by technology and consumer discretionary stocks, as investors awaited Trump's decision at 2:00 p.m. ET (1800 GMT). A U.S. withdrawal from the multination accord could impact Iranian crude exports and also fan geopolitical tensions in the Middle East, home to one-third of the world's daily oil supply. The possibility of Trump walking away from the Iran deal has been widely telegraphed, said Jack Ablin, chief investment officer and founding partner at Cresset Wealth Advisors in Chicago. "A lot of strength in oil has already occurred, this could be just buy-the-rumor sell-the-news with oil," Ablin said. If (Trump) decides to keep the deal and negotiate you could see oil prices fall." The dollar index, tracking it against a group of six major currencies, has surged about 4.5 percent in three weeks as hopes were dashed that other major central banks would follow the U.S. Federal Reserve in normalizing monetary policy. The euro and sterling fell under renewed pressure, the former on prospects of early elections in Italy and the latter as hopes waned of a Bank of England rate increase this week. "The dollar reflects the incremental economic strength of the U.S. versus Europe and other places," Ablin said. "The dollar is somewhat undervalued relative to the euro and the pound but it is very overvalued relative to the Japan yen." The euro fell 0.55 percent against the dollar to $1.1854 , the lowest since December. Against the yen, the dollar gained 0.11 percent to 109.19 per $1. The Dow Jones Industrial Average fell 49.96 points, or 0.21 percent, to 24,307.36. The S&P 500 lost 7.53 points, or 0.28 percent, to 2,665.1 and the Nasdaq Composite dropped 18.77 points, or 0.26 percent, to 7,246.45. MSCI's gauge of global equity markets fell 0.09 percent while the pan-European FTSEurofirst 300 index lost 0.02 percent. Italian government bond yields jumped, lifting southern European peers, as the possibility of an early election increased with the largest anti-establishment parties polling strongly. The Italy/Germany 10-year government bond yield spread hit its widest in three weeks at 128 basis points, while Italian 10-year yields shot up to yield 1.863 percent. Benchmark U.S. Treasury 10-year notes last fell 7/32 in price to yield 2.9779 percent. (Reporting by Herbert Lash; Editing by Bernadette Baum)

https://www.cnbc.com/2018/05/08/reuters-america-global-markets-dollar-hits-2018-high-amid-iran-pact-worry-crude-slumps.html

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Trump: 'I wish I did' pick someone other than Jeff Sessions to be attorney general

President Donald Trump tweeted Wednesday that he wishes he had picked someone other than Jeff Sessions to be attorney general. In a series of tweets citing Republican Rep. Trey Gowdy, Trump unleashed yet another attack on Sessions, who, as a senator, was one of the first mainstream Republicans to publicly endorse the real estate magnate's candidacy for president. Trump tweet 1 Trump tweet 2 Trump tweet 3 Gowdy made the comments about Sessions on Wednesday's edition of "CBS This Morning." Once friendly with the attorney general, Trump has targeted much of his wrath over the Russia probe at the former Alabama senator after Sessions recused himself last year from the Justice Department 's probe into Russian meddling in the 2016 election. Rudy Giuliani, one of Trump's attorneys in the Russia probe, told CNBC that Trump still seems frustrated over Sessions for the recusal "because he believes he should not have in the first place." The Justice Department declined to comment. Sessions' recusal came March 2, 2017, after The Washington Post reported on previously undisclosed contacts between the Alabama Republican and the Russian ambassador during the campaign and the transition period. Sessions, who was a key surrogate and advisor for Trump during the campaign, had not disclosed the meetings during his confirmation hearing before the Senate. The Wednesday tweets came on the heels of a New York Times article that said the president had asked Sessions to reverse his decision to recuse himself. Special counsel Robert Mueller is investigating the reported request as part of an inquiry into whether Trump obstructed justice. Trump has repeatedly denied that his campaign colluded with the Kremlin to undermine Democrat Hillary Clinton's candidacy. He also has denied that he obstructed justice, and has often called the probe a "witch hunt." A representative for the the White House did not immediately respond to CNBC's request for comment. CNBC's Brian Schwartz contributed to this article.

https://www.cnbc.com/2018/05/30/trump-i-wish-i-did-pick-someone-other-than-jeff-sessions-to-be-attorney-general.html

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CEE MARKETS-Forint retreats as Hungarian cbank shrugs off turbulence

* Forint off 23-month lows, bond market remains tense * Hungarian central bank holds fire, reaffirms loose policy * Forint may weaken past 320/euro soon, bond yields seen rising (Recasts with Hungary's central bank rate decision and comments) By Sandor Peto BUDAPEST, May 22 (Reuters) - The forint gave up almost all of its early gains on Tuesday against the euro, edging back towards 23-month lows as dollar bulls returned in global markets and Hungary's central bank (NBH) reaffirmed its loose policy line. The forint and Hungarian bonds have been hit particularly hard among Central European assets this month as the dollar's rally and a rise in U.S. long-term debt yields triggered a sell-off in emerging markets. The NBH, regarded as one of the most dovish central banks in the world, kept interest rates on hold at record low levels, and said it would maintain loose monetary conditions. Analysts said the bank's comments indicated that it intended to wait for jitters to subside in global markets. In its statement it noted the jump in bond yields, but said it would assess it in light of their relevance to its inflation target. Inflation is near the bottom of the bank's 2-4 percent target range. The forint's weakness is unlikely to boost it, market participants said. The forint traded at 318.4 versus the euro at 1414 GMT, off its early high of 316.31, edging towards Monday's 23-month low at 319.5. "I have no doubt that it will cross the 320 line soon, but what then?" one Budapest-based dealer said. "It is caused by the dollar's strength and U.S. yields, and looking ahead, all factors are in favour of the dollar." Hopes that Moody's may upgrade Hungary's credit rating next week may give some support to Hungarian assets, dealers said. The zloty, Central Europe's most liquid currency, has taken an even bigger beating than the forint, and on Tuesday stood 2.6 percent weaker against the euro since the end of 2017, at 4.2896. Poland's 10-year government bond yield dropped 8 basis points to 3.247. Hungary's corresponding yield rose 2 basis points to 3.2 percent. Hungarian bonds have been the worst hit in the region this month. The 10-year yield has increased by more than 60 basis points, twice as much as the U.S. yield, approaching the corresponding Polish yield for the first time in more than two years. Hungary's yield rise was the region's steepest because of a big decline in the past two years and after heavy supply from the government debt management agency AKK at its past three bond auctions, traders said. "Looking at the market now, they are lucky if they can sell 50 billion forints worth of bonds on Thursday at the auction (compared with a 65 billion forint offer)," one Budapest-based fixed income trader said, adding that yields could rise further. CEE SNAPSHOT AT MARKETS 1614 CET CURRENCI ES Latest Previous Daily Change bid close change in 2018 Czech <EURCZK= 25.7040 25.7200 +0.06% -0.63% crown > Hungary <EURHUF= 318.4000 318.5900 +0.06% -2.35% forint > Polish <EURPLN= 4.2896 4.2950 +0.13% -2.64% zloty > Romanian <EURRON= 4.6260 4.6225 -0.08% +1.16% leu > Croatian <EURHRK= 7.3855 7.3830 -0.03% +0.61% kuna > Serbian <EURRSD= 118.0400 118.1000 +0.05% +0.39% dinar > Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2018 Prague 1105.06 1102.150 +0.26% +2.49% 0 Budapest 36477.74 36770.93 -0.80% -7.36% Warsaw 2256.19 2268.39 -0.54% -8.33% Bucharest 8415.14 8260.86 +1.87% +8.53% Ljubljana <.SBITOP 896.78 897.75 -0.11% +11.21% > Zagreb 1859.77 1849.34 +0.56% +0.92% Belgrade <.BELEX1 743.26 744.23 -0.13% -2.18% 5> Sofia 644.44 646.24 -0.28% -4.87% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=R 0.9800 0.1080 +158bps +11bps R> 5-year <CZ5YT=R 1.4300 0.0300 +152bps +1bps R> 10-year <CZ10YT= 1.9720 0.0220 +142bps +0bps RR> Poland 2-year <PL2YT=R 1.6090 -0.0180 +221bps -2bps R> 5-year <PL5YT=R 2.5160 -0.0650 +260bps -9bps R> 10-year <PL10YT= 3.2470 -0.0800 +270bps -11bps RR> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep 1.03 1.19 1.33 0.90 <PRIBOR= > Hungary 0.07 0.40 0.52 0.11 Poland 1.73 1.76 1.81 1.70 Note: FRA are for ask prices Quote: s

https://www.reuters.com/article/easteurope-markets/cee-markets-forint-retreats-as-hungarian-cbank-shrugs-off-turbulence-idUSL5N1ST4F0

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New Dimension Completes Acquisition of Santa Cruz Gold and Silver Properties and Closes Oversubscribed Private Placement

TSX-V: NDR VANCOUVER, May 15, 2018 /PRNewswire/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") is pleased to announce that it has acquired a 100% interest in the Las Calandrias, Los Cisnes, and Sierra Blanca high grade gold-silver projects located in Santa Cruz province, Argentina (the "Transaction") from Sandstorm Gold Ltd. (TSX: SSL, NYSE American: SAND)("Sandstorm"). The Transaction was announced on February 20, 2018. Key Points: Acquisition of 86,000 hectares of highly prospective, advanced-stage gold-silver exploration properties in mining-favourable Santa Cruz, Argentina New leadership with appointment of former members of management of Sandstorm's subsidiary, Mariana Resources Limited ("Mariana Resources") Completed financing of $3.8M providing capital to advance exploration in Argentina, including drill-ready targets at the Las Calandrias and Los Cisnes Project Filed an updated NI 43-101 compliant technical report for the gold-silver mineral resource estimate at the flagship Las Calandria Project Share-restructuring and addition of Sandstorm as major shareholder and supporter of New Dimension Acquisition of Santa Cruz Properties New Dimension has acquired a 100% interest in the Santa Cruz Properties through an agreement dated February 19, 2018 amongst Sandstorm, New Dimension and certain subsidiaries of each entity. The agreement is available on the Company's SEDAR profile at www.sedar.com . Consideration for the acquisition is payable as: A $400,000 amount payable to Sandstorm in cash or shares at New Dimension's election on each anniversary of the acquisition, until December 31, 2032 or earlier if certain events occur, including commencement of commercial production; a 2% net smelter returns royalty ("NSR") on each of the Santa Cruz Properties, pursuant to NSR agreements. President and Chief Executive Officer, Eric Roth, commented today: "I'm pleased to see such high levels of support from investors, in particular from our new major shareholder Sandstorm Gold, as we embark on this exciting new phase for the Company. Concurrent with closing we expect to initiate a 5,000m drill program on high grade gold-silver targets at both the Las Calandrias and Los Cisnes Projects. In parallel, we will continue to generate targets on our Sierra Blanca Project and elsewhere within our regional property portfolio for future drill testing. We are also fortunate to have retained most of Mariana Resources' highly successful management team, as well as Mariana's Argentine exploration team. This ensures that their many years of experience and expertise in Santa Cruz Province will be put to immediate use to quickly advance our projects. I look forward to keeping the market informed on progress with our drill programs." Senior Management Changes Concurrent with the closing of the Transaction, Eric Roth, Ph.D. (Economic Geology), F.AusIMM, F.SEG, former Chief Operating Officer of Mariana Resources and current director of the Company, has been appointed President and Chief Executive Officer of New Dimension. Fred Hewett, current President & CEO will remain on the Company's Board of Directors. The Company wishes to thank Mr. Hewett for his dedication and service to New Dimension and is very pleased that he will remain on as a director. In addition, the following management changes will also be completed upon closing: Karen Davies has assumed the role of VP Investor Relations ("IR") for New Dimension. Karen was previously IR representative for Mariana Resources, and takes over this role from Nancy Curry. Kathryn Witter has assumed the role of Corporate Secretary for New Dimension, taking over the role from Brenda Nowak. Kathryn had previously been Canadian Corporate Secretary for Mariana Resources. Each of Ms. Curry and Ms. Nowak will remain involved with NDR to ensure an orderly transition, both have made significant contributions to the Company's successes to date. The Company is fortunate that they will remain engaged, and thanks them for their service. Share Consolidation Prior to the closing of the Transaction, the Company completed a consolidation of its issued common shares on the basis of one (1) post-consolidated share for every 2.5 pre-consolidated shares. The Company anticipates that the Company's common shares will commence trading on May 17, 2018. Closing of Private Placement The Company also announces the closing of an oversubscribed Private Placement through which 34,772,727 post-consolidated shares were issued at a price of $0.11 for gross proceeds of approximately $3.8M. The securities issued through the Private Placement are subject to a statutory hold period in Canada expiring September 15, 2018 (four months and one day from the issuing date). Cash fees of 6% (for a total of $100,393) were paid to finders in the Private Placement. The net proceeds from the Private Placement will be used for exploration activities and to advance the Argentinean portfolio. The Company also issued an additional 4,972,521 post-consolidated common shares to Sandstorm to settle outstanding debt owed by New Dimension to Sandstorm in connection with the acquisition of the Santa Cruz Properties. Upon closing of the Private Placement, Sandstorm will become New Dimension's largest shareholder with approximately 10.3% of the issued common shares of the Company. Management and Directors also participated in the Private Placement and will collectively hold 14.1% of the issued common shares of the Company. Early Warning Disclosure Pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues, Sandstorm is announcing the acquisition of an aggregate of 5,010,612 common shares ("New Dimension Shares") of New Dimension. Sandstorm acquired 38,091 shares pursuant to the Private Placement conducted by New Dimension. The remaining 4,972,521 shares were acquired by Sandstorm upon the conversion of certain debt owed by New Dimension to Sandstorm in connection with the Argentina transaction. With the acquisition of New Dimension Shares, Sandstorm now holds approximately 10.3% of the outstanding common shares. The acquisition of the New Dimension Shares by Sandstorm was effected for investment purposes. Sandstorm may from time to time acquire additional securities of New Dimension, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position. The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by Sandstorm on New Dimension's SEDAR profile at www.sedar.com . On Behalf of the Board of New Dimension Resources Ltd. "Eric Roth"

http://www.cnbc.com/2018/05/15/pr-newswire-new-dimension-completes-acquisition-of-santa-cruz-gold-and-silver-properties-and-closes-oversubscribed-private-placement.html

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Steve Miley Named Associate Director of NASA's Marshall Space Flight Center

HUNTSVILLE, Ala., May 23, 2018 /PRNewswire-USNewswire/ -- Steve Miley has been named associate director of NASA's Marshall Space Flight Center in Huntsville, Alabama. Marshall, one of NASA's largest field installations, has almost 6,000 civil service and contract personnel, an annual budget of approximately $2.5 billion, 4.5 million square feet of infrastructure and a broad spectrum of human spaceflight, science and technology development. "With three decades of government acquisition and management experience, Steve is well prepared for his new position on the center's senior leadership team," said Marshall Center Director Todd May. "The leadership skills he has displayed while working with NASA Headquarters, other NASA field centers, the U.S. Air Force, government agencies and partners has been, and will continue to be, invaluable to Marshall and the nation's space exploration efforts." As associate director, Miley will manage and lead development of business operations, guide daily business decisions and oversee Marshall's operational policy and processes. In addition, he will serve as a senior adviser in advancing the direction of the center's future. The Dayton, Ohio, native most recently served as director of Marshall's Office of Procurement. Named to the position in December 2015, he managed the organization responsible for all aspects of the contracting and procurement processes at Marshall, NASA's Michoud Assembly Facility in New Orleans and associated contractor facilities. In 2014, Miley began a second stint as the associate director for operations in Marshall's Engineering Directorate. He also held that post from 2007 to 2011. From 2011 to 2014, he was at Wright-Patterson Air Force Base near Dayton, Ohio, as director of contracting for the U.S. Air Force Life Cycle Management Center, the organization responsible for total lifecycle management of Air Force weapon systems. He led 13 acquisition directorates at three military sites, overseeing more than 2,000 contracting professionals, and guided more than $31 billion in annual obligations for 10 program offices with an active contract value of more than $196 billion. In 2006, Miley was appointed to the Senior Executive Service at NASA Headquarters in Washington, where he supervised the agency's key technical capability portfolios as director of the Strategic Capabilities Assets Division. The Senior Executive Service is the personnel system that covers most of the top managerial, supervisory and policy positions in the executive branch of the federal government. Miley began his career in 1988 as a contract negotiator at Wright-Patterson Air Force Base, supporting key military aviation and missile programs. After graduating from the Air Force contracting intern program in 1992, he transferred to NASA Headquarters in Washington as a contracting officer and procurement analyst. He was a contract negotiator for the NASA-Russian Space Agency contract for American support and use of Space Station Mir. In 1995, he transferred to NASA's Johnson Space Center in Houston, Texas, as a contracting officer and business team leader in the International Space Station Program Office. He returned to NASA Headquarters from 1998 to 2007 to take on a variety of positions, including manager of the Sponsored Research Business Office and acting assistant associate administrator for infrastructure management in NASA's Office of Space Flight. He earned a master's degree from the Southern Baptist Theological Seminary in Louisville, Kentucky, in 1986, a master's degree in business administration from Wright State University in Dayton, Ohio, in 1992, and a bachelor's degree from Campbellsville University in Campbellsville, Kentucky, in 1983. He also received the Professional Designation in Contract Management from the Air Force Institute of Technology at Wright-Patterson Air Force Base, and the Certified Professional Contracts Manager designation from the National Contract Management Association, headquartered in Ashburn, Virginia, in 1992. A 21-year Air Force reserve officer, Miley received his commission through the Air Force ROTC program at the University of Louisville in Louisville, Kentucky. He retired as a lieutenant colonel in 2008. He and his wife Dana live in Huntsville. For more information about Marshall, visit: www.NASA.gov/Marshall View original content with multimedia: http://www.prnewswire.com/news-releases/steve-miley-named-associate-director-of-nasas-marshall-space-flight-center-300653705.html SOURCE NASA

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Dr. Eliel Bayever Joins OncoQuest as Chief Medical Officer

EDMONTON, May 14, 2018 /PRNewswire/ - OncoQuest Inc. ("OncoQuest"), a privately held, cancer immunotherapy company, today announced the appointment of Dr. Eliel Bayever as Chief Medical Officer. Dr. Bayever has spent almost 20 years in the biopharmaceutical industry developing both biologics and small molecule oncology drugs globally. Prior to joining OncoQuest, Dr. Bayever was Vice President and Head of Oncology at Glenmark Pharmaceuticals, responsible for leading the effort to develop novel biologics for cancer immunotherapy. Prior to that, he was Vice President, Medical, at Merrimack Pharmaceuticals, where he led the registration study, regulatory submission and global approval of ONIVYDE as a post-gemcitabine treatment of pancreatic cancer. Dr. Bayever has also held senior medical positions at Johnson & Johnson, Wyeth (now Pfizer), Human Genome Sciences (now Glaxo Smith Kline), and Bayer focusing primarily on oncology therapeutics, as well as related devices and diagnostics. Before joining Bayer, Dr. Bayever was Associate Professor of Pediatrics at The George Washington School of Medicine and Health Services and Director of the Hematopoietic Stem Cell Transplantation Program, a senior investigator at the Center for Cancer and Transplantation Biology and a member of the Institutional Biosafety Committee at the Children's National Medical Center in Washington, DC. He was also on staff at the University of Nebraska Medical Center, and the Children's Hospital of Philadelphia. Dr. Bayever received his medical degree from the Medical School of the University of Witwatersrand in South Africa, is a Member of the Royal College of Physicians of the United Kingdom after time spent at King's College Hospital in London and completed a Fellowship in Pediatric Hematology-Oncology at UCLA. Dr. Bayever has published over 30 research articles in peer-reviewed journals and contributed 15 editorials, reviews and chapters. "We are delighted that Dr. Bayever is joining the OncoQuest team", said Dr. Madi R. Madiyalakan, OncoQuest's CEO. "The experience Eliel brings in leading early and late stage global clinical development and regulatory teams in oncology, including immunotherapy, will be very valuable as we move both our ovarian and pancreatic cancer therapeutics programs further in their clinical progress." "I am very excited to be joining the OncoQuest leadership team at this important inflection in the Company's development. This is a pivotal time for OncoQuest's oregovomab, a novel immunotherapy, the Company's lead compound. In Phase 2, oregovomab showed great promise as a frontline therapy for ovarian cancer where the standard of care has not changed for decades, and I look forward to leading it to potential registration. The opportunity to help grow a company that has the possibility of altering the way in which cancer is treated is, as always, very compelling to an oncologist," commented Dr. Bayever. About OncoQuest OncoQuest is a subsidiary of Quest PharmaTech Inc. (TSXV-QPT) ("Quest"), and is a private biopharmaceutical company focused on the development and commercialization of immunotherapies for cancer. OncoQuest's technology platform includes a portfolio of tumor antigen specific monoclonal immunoglobulins including CA125, MUC1, PSA and Her2/neu. We are developing protocols utilizing these antibodies in combination with other immune modulating drugs or drug combinations to enhance tumor specific immunity and clinical outcome. OncoQuest's lead product is oregovomab, an anti-CA125 antibody, for the treatment of ovarian cancer that is currently undergoing multiple Phase 2 clinical trials. OncoQuest's anti-MUC1 antibody program has already undergone a Phase 1 clinical trial in breast cancer patients, and its development is being led by OncoVent Co. Ltd., OncoQuest's joint venture partner that has licensed the rights of the immunotherapy technologies in the territory of Greater China. OncoQuest's next-generation products are based on immunoglobulin E licensed from UCLA, Stanford University and Advanced Immune Therapeutics, Inc. These antigen-specific monoclonal IgE antibodies are currently in preclinical development. Forward Looking Statements This press release includes . In some cases, can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any . The information in this release is provided only as of the date of this release and the company undertakes no obligation to update any contained in this release based on new information, future events, or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. View original content: http://www.prnewswire.com/news-releases/dr-eliel-bayever-joins-oncoquest-as-chief-medical-officer-300647299.html SOURCE OncoQuest Inc.

http://www.cnbc.com/2018/05/14/pr-newswire-dr-eliel-bayever-joins-oncoquest-as-chief-medical-officer.html

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Maxar's SSL Expands Leadership Team to Accelerate Innovation and Growth

Industry-leading provider of advanced spacecraft systems adds two key executives to reinforce focus on SmallSats and Earth Observation and leverage the collective power of Maxar businesses PALO ALTO, CA, May 8, 2018 /PRNewswire/ - SSL , a Maxar Technologies company (formerly MacDonald, Dettwiler and Associates Ltd.) (NYSE: MAXR, TSX: MAXR) today announced two executives have joined the SSL leadership team to develop growth opportunities for the company's innovative spacecraft systems and expand the company's focus on small satellites and Earth observation. Adam Marks is assuming the role of Chief Strategy Officer, and Mark Sarojak will serve as Vice President of Commercial Earth Observation. The addition of these two leaders will augment SSL's strategic and satellite technology expertise and accelerate growth by leveraging the collective power of the Maxar Technologies businesses. "With these innovative and dynamic thinkers we are bringing a wealth of knowledge and experience to drive growth at SSL," said Dario Zamarian, president, SSL. "This expansion of our leadership team will help us leverage the power of all four of the Maxar businesses to bring the value of our innovative spacecraft systems to the next-generation applications that are driving the new space economy." Adam Marks, Chief Strategy Officer As Chief Strategy Officer, Adam Marks will develop new markets and partnerships to optimize business opportunities for next-generation communications and space systems for commercial and government customers. He has 20 years of experience in high-tech businesses where he focused on key digital technologies such as cybersecurity, mobile broadband connectivity solutions and big data analytics. Mr. Marks was most recently Vice President of Strategy & Corporate Development at Thales Group. Prior to that position, he was at Booz Allen Hamilton where he advised Department of Defense and aerospace industry clients. His expertise includes mergers and acquisitions and working with U.S.-based technology start-ups. He has a law degree from George Washington University, a master's degree in international affairs from Columbia University's School of International and Public Affairs, and a bachelor's degree in history from Yale University. Mark Sarojak, Vice President of Commercial Earth Observation As Vice President of the Commercial Earth Observation business, Mark Sarojak leads SSL's remote sensing business, and drives strategies for the wider adoption of satellite-enabled technologies and the growing smallsat applications market. Mr. Sarojak has more than 20 years of experience in technology, geospatial intelligence and dynamic leadership including roles in strategy, sales and marketing. He joined SSL from GeoNeo Inc., where he served as CEO, and provided strategic leadership for the company's work in geospatial technologies. Previously, Mr. Sarojak spent 11 years at BAE Systems where he developed commercial strategies, led global sales and marketing teams, and grew partner networks. He holds a master's degree in engineering systems from Colorado School of Mines and a bachelor's degree in computer science from Wake Forest University. About SSL SSL, based in Palo Alto, California, is a leading provider of advanced spacecraft systems, with broad expertise to support commercial and government satellite operators and innovative space missions. The company designs and manufactures spacecraft for services such as direct-to-home television, video content distribution, broadband internet, mobile communications, in-orbit servicing, space exploration, and Earth observation. As a Silicon Valley innovator for 60 years, SSL's advanced product line includes state-of-the-art small satellites, and sophisticated robotics and autonomous solutions for remote operations. SSL is a Maxar Technologies company (NYSE: MAXR; TSX: MAXR). For more information, visit www.sslmda.com . About Maxar Technologies Maxar Technologies (formerly MacDonald, Dettwiler and Associates) is a leading global provider of advanced space technology solutions for commercial and government markets including satellites, Earth imagery, robotics, geospatial data and analytics. As a trusted partner, Maxar Technologies provides unmatched integrated capabilities, solutions and expertise to help customers anticipate and address their most complex mission-critical challenges with confidence. With more than 6,500 employees in over 31 locations, the Maxar Technologies portfolio of commercial space brands includes MDA, SSL, DigitalGlobe and Radiant Solutions. Every day, billions of people rely on Maxar Technologies to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the Toronto Stock Exchange and New York Stock Exchange as MAXR. For more information, visit www.maxar.com . Contact Wendy Lewis | SSL Media Contact | 1-650-852-5188 | wendy.lewis@sslmda.com Marissa Poratto | Maxar Investor Relations | 1-604-331-2044 | marissa.poratto@maxar.com Nancy Coleman | Maxar Media Contact | 1-303-684-1674 | nancy.coleman@maxar.com View original content with multimedia: http://www.prnewswire.com/news-releases/maxars-ssl-expands-leadership-team-to-accelerate-innovation-and-growth-300644769.html SOURCE Maxar Technologies Ltd.

http://www.cnbc.com/2018/05/08/pr-newswire-maxars-ssl-expands-leadership-team-to-accelerate-innovation-and-growth.html

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A $14,000 cholesterol drug gets a price cut as Regeneron, Sanofi strike deal with Express Scripts

Sanofi and Regeneron have agreed to lower the price of their cholesterol medicine in exchange for easier access for patients covered by pharmacy benefit manager Express Scripts , the first of a number of deals the drugmakers hope to strike to increase use of the medicine. The Sanofi and Regeneron drug, called Praluent, will also be the only one in its class covered on Express Scripts' 25 million-member National Preferred Formulary Plan, which will exclude a competing medicine made by Amgen , the companies said Tuesday. Amgen and Express Scripts shares were down nearly 2 percent in Tuesday's premarket, while Regeneron and Sanofi were down less than 1 percent. Praluent's new price will be $4,500 to $8,000 per year, the range recommended in March by the Institute for Clinical and Economic Review, or ICER, an unaffiliated pharmacoeconomics group, Regeneron said. That's down from a list price of $14,600 set when the drug was approved in 2015. The price reduction will come in the form of a rebate; the list price itself won't change. In March, Regeneron and Sanofi said they planned to strike such deals because so many patients were having trouble accessing the drug due to barriers from insurers and high co-pays. "This paradigm-shifting agreement is designed to break the gridlock so that Praluent is finally able to reach patients most in need," Regeneron Chief Executive Officer Len Schleifer said in a statement Tuesday. He noted cardiologists in the U.S. "have experienced unprecedented challenges in securing access for Praluent for patients who were clearly appropriate, but were denied coverage." Praluent, along with Amgen's drug, Repatha, is in a class of medicines known as PCSK9 inhibitors, first approved by the Food and Drug Administration in 2015 to lower LDL, or so-called bad cholesterol, in patients who don't get enough benefit from statins like Lipitor. The medicines were expected to be commercial blockbusters, given the millions of Americans with high cholesterol, but sales have disappointed. Praluent drew $195 million in 2017 revenue, while Repatha brought in $319 million. Analysts expected that longer-term studies proving that the drugs help reduce the risk of heart attack and stroke would help spur sales; Amgen's results came last year, while Regeneron and Sanofi's were reported in March. But with the latter results, Regeneron and Sanofi also pledged to lower the price of Praluent to try to open up access, after a pattern of reimbursement trouble Schleifer started referring to as "#deniedRx." A report in March took the new data into consideration. ICER calculated two price ranges for Praluent based on patients' risk levels. The $4,500 to $8,000 range was for higher-risk patients: those who had had a recent coronary event, like a heart attack, with LDL cholesterol of more than 100 milligrams per deciliter, despite intensive treatment with statins. For all other patients who had recently had an acute coronary event, ICER recommended a price of $2,300 to $3,400 per year for Praluent. The deal with Express Scripts is for all patients eligible for the medicine. A spokeswoman for Amgen, Kristen Davis, said Tuesday that the company is "disappointed" with Express Scripts' decision to exclude Repatha from its National Preferred Formulary, noting the pact will affect about 2,000 patients taking the medicine. Davis also noted the plan represents about a third of Express Scripts' business, and "Amgen can still compete for the other two-thirds where we are continuing to offer significant discounts and rebates on Repatha in exchange for improved patient access." Sales of Repatha more than doubled in the first quarter, compared with the same period last year, to $123 million. "We have been aggressively negotiating with several payers for months now to expand patient access to Repatha," Davis said. "We are offering significant discounts that are in line with our competitors and have multiple offers pending." Express Scripts Chief Medical Officer Steve Miller said the decision to only cover Regeneron and Sanofi's drug on that plan came down to the clinical data. "The reason to exclude the Amgen product is: while both of them work in a very similar manner, the data is really good for Praluent," Miller said in an interview on CNBC's " Squawk Box " Tuesday. Citing the longer-term study data presented in March, Miller noted "the drug could actually decrease heart attacks, decrease strokes, but actually also decrease mortality. So this drug can allow people to live longer and better lives." The agreement is also designed to streamline prescribing of the medicine, the companies said. Starting July 1, physicians will have to fill out a simplified form confirming the medicine is appropriate for the patient, based on what it has approved to treat and the patient's profile. The companies call that a "significant simplification" from the current system, which requires multiple steps and lots of paperwork, from lab results to detailed patient histories. Also starting in July, Express Scripts will pass a portion of the rebates from Regeneron and Sanofi directly to patients, aiming to lower their out-of-pocket costs at the pharmacy counter. Payers are increasingly adopting these so-called point-of-sale rebates amid the debate over drug prices. That's a change from the practice of distributing rebates across plan beneficiaries to lower premiums. Regeneron said it's in active discussions with other payers to strike similar deals.

https://www.cnbc.com/2018/05/01/regeneron-sanofi-chop-cholesterol-drug-price-in-express-scripts-pact.html

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Trianz Names Sheppard Lyngdoh as Chief Delivery Officer

SANTA CLARA, California, May 3, 2018 /PRNewswire/ -- Trianz, a global digital transformation consulting and technology services firm, has appointed Sheppard B. Lyngdoh as its Chief Delivery Officer. A 25-year veteran in the software solutions industry, Sheppard will be based out of Trianz' Bangalore (India) office. (Logo: http://mma.prnewswire.com/media/452308/PRNE_TrianzUpdated_Logo.jpg ) Sheppard brings extensive experience in successfully leading global teams, with direct P&L responsibility. An accomplished business and technology leader, his areas of expertise encompass customer facing and global delivery across the value chain including business unit management, delivery leadership, client engagement, solution and platform innovation, product development, program/account management, and operations. He is also an industry knowledge expert in the BFSI, healthcare, manufacturing, consumer retail, telecom and e-commerce domains. Prior to joining Trianz, Sheppard worked for major tier 1 technology firms including TCS, Infosys and Wipro, where he has successfully managed large customer accounts with multiple engagements. The scope of these engagements has covered application development, maintenance and support, infrastructure management services, business process operations and management in managed services delivery, testing, transition strategy and execution, portfolio rationalization, and consulting with various pricing models for clients across U.S., Canada, UK and mainland Europe. Sheppard is a Computer Science Engineering graduate from the Indian Institute of Technology (IIT), Madras (India), and has earned his PG Diploma in Management (Systems and Finance) from the Indian Institute of Management (IIM), Calcutta (India). Speaking on the development, Ganeshan Venkateshwaran, Head - Global Technology Services at Trianz, said, "We are very happy to welcome Sheppard to the Trianz family as our Chief Delivery Officer. With him on board, we are certain Trianz' Digital Evolution-facilitating expertise will gain an unprecedented edge - both in terms of technology enablement, as well as competitive agile business transformations." About Trianz Trianz simplifies digital evolutions through effective strategies and excellence in execution. Collaborating with business and technology leaders, we help formulate and execute operational strategies to achieve intended business outcomes by bringing the best of consulting, technology experiences and execution models. Powered by knowledge, research, and perspectives, we enable clients to transition to a digital enterprise by leveraging Cloud, Analytics, Digital, Infrastructure and Security paradigms. With offices in Silicon Valley, Washington DC Metro, Rosemont, Chicago, Austin, Boston, Denver, Irvine, Raleigh, San Francisco, Seattle, New York, Dubai, Bengaluru, Hyderabad and Chennai, we serve Fortune 1000 and emerging organizations across industries globally. For more information, visit http://www.trianz.com . Trianz Media Team Media.Contact@trianz.com +1-408-387-5800 SOURCE Trianz

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UPDATE 4-North Korea details plans to dismantle nuclear bomb test site

* North says tunnels will be collapsed for dismantlement * Journalists to be invited to event -KCNA * North Korea-U.S. summit scheduled for June 12 * S.Korea official to visit UN nuclear watchdog this week (Updates with S.Korea presidential office, foreign ministry) SEOUL/WASHINGTON, May 13 (Reuters) - North Korea has scheduled the dismantlement of its nuclear bomb test site for sometime between May 23 and 25 in order to uphold its pledge to discontinue nuclear tests, the country's state media reported on Saturday a month ahead of a historic summit. The official Korean Central New Agency said dismantlement of the Punggye-ri nuclear test ground would involve collapsing all of its tunnels with explosions, blocking its entrances, and removing all observation facilities, research buildings and security posts. "The Nuclear Weapon Institute and other concerned institutions are taking technical measures for dismantling the northern nuclear test ground ... in order to ensure transparency of discontinuance of the nuclear test," KCNA said. U.S. President Donald Trump and North Korean leader Kim Jong Un will hold talks in Singapore on June 12, the first-ever meeting between a sitting U.S. president and a North Korean leader. Trump's Secretary of State Mike Pompeo said on Friday that North Korea can look forward to "a future brimming with peace and prosperity" if it agrees to quickly give up its nuclear weapons. Trump welcomed the North Korean announcement. "North Korea has announced that they will dismantle Nuclear Test Site this month, ahead of the big Summit Meeting on June 12th," he tweeted. "Thank you, a very smart and gracious gesture! Thank you, a very smart and gracious gesture!" South Korea's presidential office echoed the sentiment on Sunday, saying it shows Pyongyang's willingness to denuclearise through actions beyond words. However, in spite of its pledge to stop testing, North Korea has given no indication it is willing to go beyond statements of broad conceptual support for denuclearization by unilaterally abandoning a nuclear weapons program its ruling family has seen as crucial to its survival. In announcing the plan to shut Punggye-ri last month, Kim said North Korea no longer needed to conduct tests because it had completed its goal of developing nuclear weapons. KCNA said journalists, including from the United States and South Korea, would be invited to cover the event, to "show in a transparent manner the dismantlement of the northern nuclear test ground to be carried out". The exact date of the closure will depend on weather conditions, the agency said. To accommodate the travelling journalists, North Korea said various measures would be taken including "opening territorial air space". NO MENTION OF EXPERTS South Korean officials said in April that North Korea also planned to invite experts from the United States and South Korea for the Punggye-ri shutdown, but KCNA made no mention of this. Last month, South Korean President Moon Jae-in had asked the United Nations to help verify the shutdown. South Korea's deputy nuclear envoy Jeong Yeon-doo will visit the International Atomic Energy Agency (IAEA) in Vienna this week to discuss the "complete denuclearisation of North Korea" the foreign ministry said on Sunday. All of North Korea's six known nuclear bomb tests have taken place at Punggye-ri, in the northeastern of North Korea where a system of tunnels have been dug under Mount Mantap. According to Chinese academic reports, North Korea's most recent nuclear test in September of what Pyongyang said was a hydrogen bomb, was so large it triggered a collapse inside the mountain, rendering the entire site unusable for future tests. But U.S. intelligence officials have said it remains usable and could be reactivated "in a relatively short period of time" if it was closed. Jeffrey Lewis, director of the East Asia Nonproliferation Program at California's Middlebury Institute of International Studies, said in a blog post this week that recent satellite images had shown the removal of some buildings from the site. On Saturday, he told Reuters that closure of Punggye-ri did not mean much in terms of disarmament, given that the United States, for example, stopped nuclear testing in 1992. "It would, however, require North Korea to clear out the test tunnels and rebuild any infrastructure that might be removed or dig new tunnels at the site or elsewhere. So, its a good confidence building measure, but not necessarily a sign of irreversible disarmament." Siegfried Hecker, a former director of the Los Alamos National Laboratory in the United States and a leading expert on North Korea's nuclear program, said collapsing the Punggye-ri tunnels would be "a big and positive step," given his belief that North Korea still required more nuclear and missile tests to reach the U.S. mainland with a nuclear-tipped missile. However, he said the other crucial steps North Korea needed to take to demilitarize its nuclear program were to shut its plutonium production reactor, and open its uranium processing to inspection. (Reporting by Christine Kim and David Brunnstrom Additional reporting by Lucia Mutikani in WASHINGTON and Joori Roh in SEOUL Editing by Alistair Bell & Simon Cameron-Moore)

https://www.cnbc.com/2018/05/12/reuters-america-update-4-north-korea-details-plans-to-dismantle-nuclear-bomb-test-site.html

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Alliance One Announces Fourth Quarter and Full Year 2018 Earnings Call; Save-The-Date for Investor and Analyst Day

MORRISVILLE, N.C., May 29, 2018 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) today announced that it will hold a conference call to report financial results for its fourth quarter and fiscal year ended March 31, 2018, on Thursday, June 7, 2018, at 8:00 a.m. ET. In addition, Alliance One announced that it will hold an Investor Day in the morning on Wednesday, September 12, 2018, in New York City. The Investor and Analyst Day will provide insight into the Company's operations, strategic goals, and commitment to shareholder value as well as offer networking opportunities with AOI's leadership team. A more detailed agenda for the Investor and Analyst Day will be provided at a later date. Analysts and institutional investors interested in attending are encouraged to contact jbailey@aointl.com . A live webcast of the Investor and Analyst Day presentation will be available in the investor relations section of the Company's website, www.aointl.com . The dial in number for the fourth quarter and fiscal year end 2018 call is (877) 260-1479 or outside the U.S. (334) 323-0522, and the conference ID is 8903737. Those seeking to listen to the call may access a live broadcast on the Alliance One website. Please visit www.aointl.com 15 minutes in advance to register. For those who are unable to listen to the live event on June 7, 2018, a replay will be available by telephone from 11:00 a.m. ET Thursday, June 7, 2018 through 11:00 a.m. ET Tuesday, June 12, 2018. To access the replay, dial (888) 203-1112 within the U.S., or (719) 457-0820 outside the U.S., and enter access code 8903737. Any replay, rebroadcast, transcript or other reproduction of this conference call, other than the replay accessible by calling the number above, has not been authorized by Alliance One and is strictly prohibited. Investors should be aware that any unauthorized reproduction of this conference call may not be an accurate reflection of its contents. About Alliance One International, Inc. Alliance One International is an agricultural company that delivers value-added products and services to businesses and customers, and is a trusted provider of responsibly sourced, independently verified, sustainable and traceable products, ingredients and services. View original content: http://www.prnewswire.com/news-releases/alliance-one-announces-fourth-quarter-and-full-year-2018-earnings-call-save-the-date-for-investor-and-analyst-day-300655047.html SOURCE Alliance One International, Inc.

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Eyecarrot Announces Educator Patricia Andrich as Advisor

TORONTO, Eyecarrot Innovations Corp ("Eyecarrot" or the "Company") (TSX-V: EYC) (OTCQB: EYCCF) is pleased to announce the appointment of Patricia Andrich as Educational Advisor to Eyecarrot's Binovi Platform in the development of a world class library for advanced strategies in reflex integration. The appointment of Mrs. Andrich to the Advisory Team demonstrates Eyecarrot's commitment to the expansion and quality of educational material that the Binovi Platform offers. Mrs. Andrich is a leading therapist in the field of Functional Vision Development and will ensure the delivery of the highest quality of education from the therapist's point of view. In addition, she will lend critical insights to the successful implementation of Binovi into a variety of clinics worldwide. (Logo: https://mma.prnewswire.com/media/688290/Eyecarrot_Logo.jpg ) Quote: from Dr. Leonard Press about her Appointment . "I am delighted that Patti Andrich has joined the Eyecarrot/Binovi family as an advisor. She brings a wealth of experience in education and clinical practice, teaming with her spouse Dr. Alex Andrich in a highly successful practice that revolves around vision development neuro-optometric rehabilitation. Her presentations on primitive reflexes are highly regarded in our field by vision therapists and optometrists, and I look forward to the contributions that she will make to the Binovi Platform." About Patti Andrich MA, OTR/L, COVT , INPP Patti Andrich is an occupational therapist known for her success in treating individuals with difficulties in visual-motor, visual-perceptual, auditory perception and vestibular functioning. Patti received her Master degree from The Ohio State University College of Education and her occupational therapy degree from the Cleveland State University Department of Health Sciences. Additionally, Patti holds certification in auditory processing using The Listening Program with Bone Conduction from Advanced Brain Technologies and is certified in INPP primitive reflex integration techniques; having studied in England under the direction of Sally Goddard at the Institute of Neurological Physiological Psychology (INPP). Patti is a certified vision therapist, member of The Optometric Extension Program as well as the College of Optometrists in Vision Development, the recipient of several honors and awards and has been a guest speaker for local, state, national and international conferences. About Eyecarrot Eyecarrot's BinoviTM platform is an innovative healthcare technology solution that integrates software, hardware, data and expert knowledge. Binovi helps Optometrists treat vision issues with in-office therapy as well as doctor led home based activities to better serve and increase the patient's experience and their therapy needs. The goal is to help transform vision performance for the 1 in 4 people worldwide that suffer from vision-related issues going beyond visual acuity. The company is transforming how vision healthcare services are integrated, while addressing key challenges in the health system. On behalf of the Board of Directors Adam Cegielski President | CEO Forward looking information Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations, and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at http://www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contact: T: +1(416)943-6271 +1-855-416-7158 info@eyecarrot.com SOURCE Eyecarrot Innovations Corp

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RPT-UPDATE 2-Nigeria draft oil reforms seek to establish powerful industry regulator

(Repeats to add pictures available, no change to text) * Three draft bills are part of Petroleum Industry Bill (PIB) * Drafts set out tax, royalty rates for oil, gas firms * Would create funds for communities hit by operations * President would have power to award petroleum licences By Paul Carsten and Alexis Akwagyiram ABUJA, May 10 (Reuters) - Nigeria's government plans to create a powerful energy regulator with broad oversight of the oil and gas sector, according to draft versions of sweeping reforms known collectively as the Petroleum Industry Bill (PIB). The draft laws, posted on the Nigerian legislature's website on April 30, are the versions intended for the Senate, the upper house of parliament. The PIB aims to improve transparency, attract investors, stimulate growth and increase government revenues. After being debated for well over a decade, the unwieldly and contentious legislation was broken into sections to help it pass into law. The governance part of the bill was passed by both houses of parliament in January. However, that section has not yet been signed into law by President Muhammadu Buhari, who is also Nigeria's oil minister. The inability to pass the law and uncertainty around taxation has stunted investment in the west African nation, particularly in deep-water oil and gas fields. The three PIB sections yet to be passed address fiscal and administrative issues and local communities affected by the oil industry. On Tuesday, Senate President Bukola Saraki told Reuters Nigeria's parliament aims to pass the long-delayed PIB by the end of July. The administrative bill largely deals with the scope of the Nigerian Petroleum Regulatory Commission, which would be the main body regulating the oil and gas sector in the country. The commission would have the power to grant, amend and revoke licences for all kinds of activity in the industry, from exploration and drilling to distribution and sales. It would also make public all those licences, permits and authorisations, as well as the details of interests or shares held. The bill sets the time limits for various kinds of licences: three years for an exploration licence, 25 years for onshore petroleum licences and 30 years for deep offshore. The draft seeks to put an end to Nigeria's subsidies for petroleum products, with a "short transition towards full market pricing", within a year of the bill being signed into law. "The President may direct the Commission to negotiate and award Petroleum Licences to qualified investors outside of the bidding process," the draft also said. The fiscal bill sets out the rates of tax and royalties for various oil and gas enterprises, as well as various breaks such as upstream gas operations receiving a tax-free period of five years from the start of production. For profits from: Assessable tax (%) Onshore crude 65 Shallow water crude 50 Onshore natural gas 30 Shallow water natural gas 30 Deep offshore upstream crude 40 Deep offshore upstream gas 30 Tranches of production Royalty rate (barrels per day) (%) Onshore areas: First 2,500 2.5 Next 7,500 7.5 Next 10,000 15.0 Above 20,000 20.0 Shallow water areas: First 10,000 5.0 Next 10,000 10.0 Next 10,000 15.0 Above 30,000 20.0 Deep water areas: First 50,000 5.0 Next 50,000 7.5 Above 100,000 10.0 Additional tax will also be charged when crude prices exceed $60 a barrel, the draft said. The third draft section of the PIB addresses communities that host or are affected by oil and gas sector work. For decades, communities in the Niger Delta oil heartland have complained that spills and pollution have destroyed their land and killed off wildlife. RIghts group Amnesty International accused international oil majors Royal Dutch Shell PLC and Eni SpA in March of negligence when addressing spills in Nigeria. Other oil majors such as Exxon Mobil Corp, Total SA and Chevron Corp also operate in Nigeria. The draft bill seeks to address some of those concerns by making companies whose operations are in or near communities set up a trust, with a fund, for the benefit of those people. Failure to do so would result in the suspension of their licence, the draft said. Companies would have to contribute 2.5 percent of annual operating expenditure for work in that area into the trust's fund, which would then be used to improve infrastructure, job creation, education and health facilities. (Reporting by Paul Carsten and Alexis Akwagyiram Additional reporting by Camillus Eboh Editing by Adrian Croft)

https://www.reuters.com/article/nigeria-oil/rpt-update-2-nigeria-draft-oil-reforms-seek-to-establish-powerful-industry-regulator-idUSL8N1SH62W

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Braun Intertec expands technical expertise in Dallas and Tyler, Texas

MINNEAPOLIS, May 15, 2018 /PRNewswire/ -- Braun Intertec is proud to announce three employee-owners have transferred to our new office locations in Dallas and Tyler, Texas broadening our technical expertise in key sectors. The latest employee moves will bolster our current service offering in geotechnical engineering and construction materials testing. Cody Wardien , project engineer with nearly seven years of experience, is now located in our Tyler, Texas office. Wardien specializes in geotechnical evaluations, construction materials testing project management, geotechnical and construction materials testing proposal development and field instrumentation. He has managed projects for a broad range of clients including, oil and gas facilities, residential home construction, agricultural facility construction, substation renovations, railroad improvement projects and commercial construction. Eric Dagenhardt , project engineer, is working at our GME Consulting Services (GME) office in Dallas, Texas, a subsidiary of Braun Intertec. With nearly seven years of experience, he brings expertise in geotechnical investigations and project management of large-scale commercial construction special inspections and testing projects. These projects included US Bank Stadium, the Minnesota Vikings Practice Facility, numerous University of Minnesota projects, and multiple high-rise residential buildings. Reece Taylor , project engineer, is also joining GME in Dallas, as the field services coordinator, with eight years of experience. Taylor is responsible for special inspections and construction materials testing of commercial-related projects. As a special inspector, he has developed experience in concrete construction, masonry construction and soils. "To help meet increasing requests from our clients, we're thrilled to bring more of our highly-skilled, geotechnical and construction materials testing staff to the region," says Jon Carlson, CEO of Braun Intertec. "The latest employee-owner additions to our Dallas and Tyler, Texas offices will enhance the services we offer clients and pave the way for future expansion in Texas." Thanks to our growing team of talented engineers, technicians and scientists, Braun Intertec continues to expand its business and service expertise across the state of Texas for our clients. For more information about Braun Intertec, visit www.braunintertec.com , and to learn more about GME, visit www.gmeconsult.com . About Braun Intertec Based in Minneapolis, employee-owned Braun Intertec ( www.braunintertec.com ) is a premier engineering, environmental consulting and testing firm with nearly 1,000 employees located in Iowa, Kansas, Louisiana, Minnesota, North Dakota, Texas and Wisconsin. Braun Intertec subsidiaries include Agile Frameworks, LLC, based in Minneapolis, as well as GME Consulting Services, Inc., based in Dallas. View original content: http://www.prnewswire.com/news-releases/braun-intertec-expands-technical-expertise-in-dallas-and-tyler-texas-300648956.html SOURCE Braun Intertec

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GST AutoLeather Exits Bankruptcy Under New Ownership

SOUTHFIELD, Mich., May 23, 2018 /PRNewswire/ -- GST AutoLeather ("GST" or the "Company"), the global leader in automotive leather components, and its subsidiaries have exited Chapter 11 bankruptcy effective, May 22 nd 2018 under new ownership. To lead the transition, GST has named Randy Johnson President and CEO. Along with its current strong leadership, GST is announcing the addition of two key leather industry experts, Bryn Kahrl as Vice President of Global Operations and Scott Landis as Chief Human Resources Officer. "We are committed to being the most competitive, innovative, and sought-after supplier to major OEMs worldwide, leveraging our strong customer service, a renewed focus on lean manufacturing and standardization, and care for our employees as we instill a customer and operationally focused leadership culture," said Mr. Johnson. Mr. Johnson replaces former CEO Dennis Hiller, who will stay on with the leather company as a board advisor to assist in the transition. Mr. Johnson most recently served as CEO of Romeo RIM, Inc. a Michigan-based composites manufacturer where he transformed that business and its brand through lean and innovation processes. Prior to that, Mr. Johnson served as Vice President of Global Operations at Eagle Ottawa for 12 years, leaving in 2014 before its sale to Lear Corporation. At Eagle Ottawa, Mr. Johnson was the architect of the operational transformation resulting in years of best-in-class competitive performance and a stable world class manufacturing team. Post Chapter 11 exit, GST is majority owned by funds managed by Black Diamond Capital Management, L.L.C. ("BDCM"), which has a track record of assisting companies in growing value by focusing on operational and commercial improvements through a disciplined long-term approach. "We are looking forward to supporting GST's future efforts to build upon its strong global market share with a keen focus on providing top customer service while enhancing its operations," said Stephen H. Deckoff, Managing Principal of BDCM. "GST has exited bankruptcy with a strong balance sheet and ample liquidity, talented leaders globally, and a reputation as a high-quality leather designer and manufacturer," Johnson said, adding, "GST is among a small group of leather suppliers that can be considered truly global in nature." ABOUT GST AUTOLEATHER GST AutoLeather is the global leader in automotive leather components, with innovative design and engineering supporting the future vision of the OEM customers worldwide. The Company's talented team of employees, its global operations and its customer-centric leadership culture enables GST to continue to build strong relationships with customers based on trust and transparency. View original content with multimedia: http://www.prnewswire.com/news-releases/gst-autoleather-exits-bankruptcy-under-new-ownership-300653319.html SOURCE GST AutoLeather

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Spanish Broadcasting System Schedules Fourth Quarter And Full Year 2017 Conference Call

MIAMI, Spanish Broadcasting System, Inc. (OTCQX: SBSAA) (the "Company") announced that it will release its fourth quarter and full year 2017 financial results on Wednesday, May 23, 2018. The Company will host a conference call to discuss its fourth quarter and full year 2017 financial results on Friday, May 25, 2018 at 11:00 a.m. Eastern Time. To access the teleconference, please 412-317-5441 ten minutes prior to the start time. If you cannot listen to the teleconference at its scheduled time, there will be a replay available through Thursday, June 7, 2018 which can be accessed by dialing 877-344-7529 (U.S) or 412-317-0088 (Int'l), passcode: 10120712. There will also be a live webcast of the teleconference, located on the investor portion of Spanish Broadcasting's corporate Web site, at http://www.spanishbroadcasting.com/webcasts-presentations . A seven day archived replay of the webcast will also be available at that link. About Spanish Broadcasting System, Inc. Spanish Broadcasting System, Inc. owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 250 affiliated stations reaching 94% of the U.S. Hispanic audience. SBS also owns MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and owns multiple bilingual websites, including www.LaMusica.com , an online destination and mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com . View original content: http://www.prnewswire.com/news-releases/spanish-broadcasting-system-schedules-fourth-quarter-and-full-year-2017-conference-call-300653943.html SOURCE Spanish Broadcasting System, Inc.

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Leslie Bishop Joins 5W as Senior Vice President

NEW YORK, May 18, 2018 /PRNewswire/ -- 5W Public Relations ( 5WPR ), one of the top 10 independently owned PR firms in the U.S., today announced that senior PR executive Leslie Bishop has joined the agency as Senior Vice President of Travel, Entertainment and Hospitality. Leslie joins 5W with 15+ years of experience building and implementing insightful communications campaigns, and a proven ability to lead teams, grow business, and expand client relationships. In her role as Senior Vice President, Bishop will provide strategic advice and counsel to 5W clients, as well as further developing the agency's services and communications programs within the travel, hospitality and entertainment spaces. Prior to joining the team at 5W, Leslie was the Senior Communications Director at Exposure Communications, overseeing the fashion, lifestyle, and consumer practice in addition to having oversight of the agency as a whole. During her tenure at Exposure, Leslie lead the charge on globally recognized brands including Dr. Martens, KITH, Quiksilver, G-Shock, Converse, Herschel, Uniqlo, and Polaroid. Leslie was also previously PR Director at Aritzia, responsible for third-party agency management in New York and Quebec, and overall PR direction and strategy. "We're excited to welcome Leslie to 5W," said Ronn Torossian, 5WPR CEO . "Her proven experience in the consumer and lifestyle space, driving innovative programs for a multitude of leading brands, will help 5W continue to provide the highest level of service to our clients and further 5W's growth as an agency. We couldn't be happier to have her on our team." Leslie holds a degree in Communications from The Surrey Institute of Art & Design in London, England. About 5W Public Relations: 5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 150 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and digital strategy, 5W brings leading businesses a resourceful, bold and results-driven approach to communication. Media Contact Ronn Torossian rtorossian@5wpr.com View original content with multimedia: http://www.prnewswire.com/news-releases/leslie-bishop-joins-5w-as-senior-vice-president-300650980.html SOURCE 5W Public Relations

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SE Asia Stocks-Indonesia hits 9-mth low on growth concerns

May 4, 2018 / 4:01 AM / in 19 minutes SE Asia Stocks-Indonesia hits 9-mth low on growth concerns Reuters Staff 4 Min Read * Indonesia to release annual GDP data on Monday * Malaysia headed for third straight session of declines * Singapore touches over two-week low By Sumeet Gaikwad May 4 (Reuters) - Most Southeast Asian stock markets fell on Friday, as investors turned cautious ahead of the release of U.S. payrolls data later in the day, with Indonesia down on fears economic growth rate will weaken in the first quarter. The U.S. jobs report for April will likely underscore labour market strength. Nonfarm payrolls probably increased by 192,000 jobs last month, according to a Reuters survey of economists, after rising only 103,000 in March. Indonesia's GDP growth rate likely was a touch weaker in 2018's first three months than in the previous quarter as lacklustre consumption continued to constrain the pace, a Reuters poll showed. The country is due to release its annual GDP data on May 7. Indonesian stocks fell to their lowest since August 2017 as financials weighed, with Bank Central Asia falling 1 percent and Bank Negara Indonesia declining 2.3 percent. An index of the country's 45 most liquid stocks fell nearly 1 percent. Foreign investors net sold $55.3 million worth of Indonesian stocks on Thursday, stock exchange data showed. "We suspect the murky economic outlook amid low inflationary pressures have triggered the selloff. Further, we remain concerned that Bank Indonesia may be too much behind the yield curve," said Taye Shim, head of research at Mirae Asset Sekuritas. "If the exogenous risk factors persist, pre-emptive policy tightening might need to be accompanied by politically-sensitive decisions of raising fuel and energy prices," DBS Bank said in a note. Singapore hit its lowest in over two weeks, with lenders DBS Group Holdings falling 1.7 percent and United Overseas Bank sliding 1.3 percent. Malaysian shares shed 0.3 percent on financials. Index heavyweights CIMB Group Holdings fell 1.6 percent, while Public Bank was off 0.6 percent. Markets are expected to closely watch the outcome of general elections scheduled next week. "Investors will be looking forward to policy continuity which will be crucial to ensuring economic stability after the election," DBS Bank said in a note. Philippine shares were flat, while Thailand edged lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS: AS AT 0324 GMT Change on day Market Current Previous Close Pct Move Singapore 3546.15 3575.68 -0.83 Bangkok 1787.42 1790.8 -0.19 Manila 7539.03 7535.1 0.05 Jakarta 5815.856 5858.732 -0.73 Kuala Lumpur 1846.16 1851.8 -0.30 Ho Chi Minh 1029.46 1026.46 0.29 Change on year Market Current End 2016 Pct Move Singapore 3546.15 3402.92 4.21 Bangkok 1787.42 1753.71 1.92 Manila 7539.03 6840.64 10.21 Jakarta 5815.856 6355.654 -8.49 Kuala Lumpur 1846.16 1796.81 2.75 Ho Chi Minh 1029.46 664.87 54.84 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Biju Dwarakanath)

https://www.reuters.com/article/southeast-asia-stocks/se-asia-stocks-indonesia-hits-9-mth-low-on-growth-concerns-idUSL3N1SB1P1

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Ubiquity Continues to Push Forward Its Restructure Plans

IRVINE, Calif., May 16, 2018 /PRNewswire/ -- Ubiquity, Inc. ("Ubiquity" or the "Company"), is a vertically integrated, technology-focused media company. Ubiquity's portfolio covers virtual, augmented, mixed and immersive reality as well as the Internet-of-Things. Since the departure by Chris Carmichael in late July, Ubiquity continues to push forward to re-structure the company. Chris Carmichael, who had originally been succeeded by Nick Mitsakos, returned to CEO in June of 2017 in an effort to assist the company in its financial filings. Carmichael resigned as Chairman and CEO in late July 2017 due to illness. As previously reported, Robert Fernander stepped into the role as Chairman in August of 2017 and Brenden Garrison who had been running the company since Carmichael's absence, was named President and CEO in December 2017. Robert ("Bob") is a seasoned business executive experienced in connecting new technologies to high growth markets who originally joined the Company's board of directors in April of 2017. "We expect Carmichael's vision and positive influence on the company to continue as we connect these emerging technologies to the consumer," stated Mr. Fernander. He continued to say, "I am looking forward to continuing Ubiquity's restructuring plan that Carmichael started to establish a clear strategy for revenue and growth." Garrison who has played a major role in the Company's management since joining the company in 2006 and was officially named Chief Financial Officer in 2013 said, "I believe that the company will succeed in its restructuring efforts, as we take the groundwork laid by Carmichael in VR, AR, and Mixed Reality along with the innovative Sprocket to market," Garrison said. About Ubiquity Irvine, California, Ubiquity is a vertically integrated, technology-focused media company. Forward-Looking Statements Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," "will," "would" or the negative of these terms or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Contact: (949) 489-7600 View original content with multimedia: http://www.prnewswire.com/news-releases/ubiquity-continues-to-push-forward-its-restructure-plans-300649393.html SOURCE Ubiquity Inc.

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ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of LaSalle Hotel Properties

NEW YORK, May 21, 2018 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against LaSalle Hotel Properties (NYSE: LHO) and its board of directors for breach of fiduciary duty concerning the proposed acquisition of the company by Blackstone. Stockholders will receive $33.50 for each share of LaSalle Hotel Properties stock that they hold. The transaction is valued at approximately $4.8 billion and is expected to close third quarter of 2018. If you are a stockholder of LaSalle Hotel Properties and are interested in obtaining additional information regarding this investigation, please visit us at: http://www.rowleylawpllc.com/investigation/lho . You may also contact Shane Rowley, Esq. at Rowley Law PLLC, 50 Main Street Suite 1000, White Plains, NY 10606, by email at info@rowleylawpllc.com , or by telephone at 914-400-1920 or 844-400-4643 (toll-free). Rowley Law PLLC represents shareholders nationwide in class actions and derivative lawsuits in complex corporate litigation. For more information about the firm and its attorneys, please visit http://www.rowleylawpllc.com . Attorney Advertising. Prior results do not guarantee a similar outcome. View original content: http://www.prnewswire.com/news-releases/alert-rowley-law-pllc-is-investigating-proposed-acquisition-of-lasalle-hotel-properties-300651987.html SOURCE Rowley Law PLLC

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PRECIOUS-Gold prices inch up on steady dollar

BENGALURU, May 8 (Reuters) - Gold prices rose slightly on Tuesday, after easing in the previous session, as the dollar held steady after marking a fresh 2018 peak. FUNDAMENTALS * Spot gold rose 0.1 percent to $1,315.24 per ounce at 0051 GMT. * U.S. gold futures for June delivery were up 0.1 percent at $1,315.80 per ounce. * The dollar index , which measures the greenback against a basket of six major currencies, was little changed at 92.697 after hitting its best since December at 92.974 on Monday. * Oil prices retreated from three-and-a-half-year highs on Tuesday as investors waited on an announcement by President Donald Trump on whether the United States will reimpose sanctions on Iran. * Trump said he would announce a decision on Tuesday about the future of an international nuclear agreement with Iran, as Tehran hinted it might stay in the 2015 accord even if Washington pulls out. * China's top economic official will visit Washington next week to resume trade talks with the Trump administration, the White House said on Monday, after discussions in Beijing last week failed to produce agreement on a long list of U.S. trade demands. * As benchmark oil prices touched $70 a barrel, Federal Reserve officials on Monday said that rising U.S. inflation and wage pressures are not enough yet to prompt a change in the central bank's rate outlook. * Government bond yields in the euro area rose in late Monday trading after the European Central Bank's chief economist Peter Praet said an unexpected drop in euro zone core inflation may be a one-off. * The Bank of Japan's decision to drop a timeframe for hitting its inflation target shows it is losing confidence in its price outlook and could mean it puts off exiting easy policy for years to come, a former central bank executive said. DATA/EVENT AHEAD (GMT) * China Trade data Apr 0600 Germany Industrial output Mar 0600 Germany Trade data Mar 1000 U.S. NFIB business optimism Apr * No exact timing (Reporting by Apeksha Nair in Bengaluru; editing by Richard Pullin) Our

https://www.reuters.com/article/global-precious/precious-gold-prices-inch-up-on-steady-dollar-idUSL3N1SF0AB

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MountainWest Capital Network Deal Flow Report Shows Increase in Utah Mergers and Acquisitions, More Deals in 2017

SALT LAKE CITY, May 15, 2018 /PRNewswire/ -- MountainWest Capital Network (MWCN) today released its 23 rd annual Deal Flow Report, which provides an analysis of Utah's capital market and total number of transactions within the state. The report revealed an increase in the number of capital transactions from 423 in 2016 to 514 in 2017, indicating Utah companies are involved in more transactions. Notably, Utah's tech industry has continued to grow, with several companies becoming large enough to initiate transactions and acquire smaller businesses. Two Utah-based tech companies led mergers and acquisitions within the technology sector, with Ivanti's transactions totaling $1.1 billion and a single deal from Digicert, Inc. valued at $950 million. "It's powerful to see Utah companies are now getting big enough to do more of the acquiring rather than being bought by out-of-state businesses," said Katie Chandler from Tanner LLC, chair of MWCN's Deal Flow Event. "As Utah's economy continues to grow stronger, it'll be interesting to see how capital transactions evolve in coming years." The report also notes that the technology/software segment has the highest percentage of total transactions, but consumer retail has seen a six percent increase over the past three years. Younique LLC, Woodside Homes, Inc. and Nutraceutical International Corporation were all named in the top 10 mergers and acquisitions within the consumer retail category. The top three private placement transactions were all tech companies: Nikola Motor Company ($520 million), Qualtrics ($180 million) and Domo ($115 million). The Deal Flow Report is published each year by MWCN, a nonprofit organization, to further its mission of fostering the dynamic flow of information about capital formation and distribution. It also serves to educate and mentor, recognize and reward successful business performance and relationship fostered through networking. It does not report on transactions that were either confidential or otherwise not publicly disclosed. The full 2017 MWCN Deal Flow Report can be viewed at: https://www.mwcn.org/deal-flow/ About MountainWest Capital Network MountainWest Capital Network is Utah's first and largest business networking organization devoted to supporting entrepreneurial success, and dedicated to the flow of financial, entrepreneurial and intellectual capital. Like us on Facebook and follow us on Twitter @MWCN and LinkedIn. www.mwcn.org Media Contact Jacob Moon Method Communications 801-461-9797 jacob@methodcommunications.com Cheri Waldron , MountainWest Capital Network 801-966-1430 cheri@mwcn.org View original content with multimedia: http://www.prnewswire.com/news-releases/mountainwest-capital-network-deal-flow-report-shows-increase-in-utah-mergers-and-acquisitions-more-deals-in-2017-300649065.html SOURCE MountainWest Capital Network

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CIT Closes on $15.3 Million Loan for Acquisition of Medical Office Building

NEW YORK, May 29, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business, part of the Commercial Finance division, has closed on a $15.3 million loan to finance the purchase of a San Diego, Calif., medical office building. The Coast Medical Center is a four-story medical office building located on nearly two acres, roughly 10 miles from downtown San Diego and less than a mile from two neighboring hospitals. Tenants offer a wide range of medical services, including surgery, urology, orthopedics and dentistry. The borrower is a joint venture between Kayne Anderson Real Estate and MB Real Estate. "CIT Healthcare Finance has backed several of our acquisitions in recent years by providing senior debt capital in support of our growing medical office portfolio," said Joe Magliochetti, senior vice president and managing director with MB Real Estate. "CIT is very proficient in healthcare real estate and has a specialized medical office financing program. Their combined healthcare and real estate expertise is evident in their very efficient underwriting process and ability to close in a timely fashion. We highly value this strategic relationship." "We are pleased to continue supporting Kayne Anderson and MB Real Estate with financing as they add to their growing portfolio of medical office buildings," said William Douglass, managing director and group head of CIT's Healthcare Finance business. "As more care shifts from inpatient to outpatient, investment in medical office buildings continues to increase and our Healthcare Finance team is well positioned with the experience and market knowledge to quickly evaluate and execute transactions for our clients," Douglass added. CIT's Healthcare Finance business provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. By using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital. About CIT Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com and follow us on Twitter , LinkedIn , YouTube and Facebook . CIT MEDIA RELATIONS: John M. Moran 212-461-5507 john.moran@cit.com View original content with multimedia: http://www.prnewswire.com/news-releases/cit-closes-on-15-3-million-loan-for-acquisition-of-medical-office-building-300655450.html SOURCE CIT Group Inc.

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Southern Company Announces Sale of Certain Florida Assets to NextEra Energy

ATLANTA, Southern Company today announced that it has entered into agreements to sell Gulf Power Company, Florida City Gas and the entities holding Southern Power's interests in Plant Oleander and Plant Stanton to NextEra Energy for an aggregate purchase price of approximately $6.475 billion. Net of debt, this reflects an equity value of approximately $5.075 billion. "This sale provides Southern Company the opportunity to deliver great value to our organization, bolster our financial profile and continue to build the future of energy as one of America's premier energy companies," said Thomas A. Fanning, chairman, president and CEO of Southern Company. "These Florida businesses are being sold at a price that provides substantial value to our stockholders, while entrusting the customers of these exceptional franchises to a high-quality utility company that has a well-established presence in the state." The transactions are designed to allow Gulf Power and Florida City Gas to continue their customer-focused business models and strong commitments to safety, reliability, customer service and community engagement. Proceeds from these transactions are intended to be used to reduce debt and improve Southern Company's balance sheet. Southern Company's goal remains to simultaneously provide benefits to customers, preserve solid credit metrics and improve the contribution of its state-regulated utilities to its value proposition. The opportunity to fund the business without raising significant additional capital makes the value proposition of these transactions even stronger. Completion of each of these transactions is conditioned upon, among other things, the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Gulf Power and Plant Oleander and Plant Stanton transactions also will require approval by the Federal Energy Regulatory Commission and the Federal Communications Commission. The target completion for the sales of Gulf Power and Southern Power's interests in Plant Stanton and Plant Oleander is the first half of 2019. The Florida City Gas transaction's target completion is third quarter 2018. Southern Company will host a financial analyst call to discuss this announcement at 9:45 a.m. Eastern Time today, during which Fanning and Chief Financial Officer Art P. Beattie will discuss the transaction. Investors, media and the public may listen to a live webcast of the call and view associated slides that were posted this morning at http://investor.southerncompany.com/webcasts . A replay of the webcast will be available on the site for 12 months. Headquartered in Juno Beach, Florida, NextEra (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, that operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com , www.FPL.com , www.NextEraEnergyResources.com . Advisors Citigroup Global Markets Inc. is serving as the exclusive financial advisor and Jones Day, Troutman Sanders LLP and Gibson Dunn & Crutcher LLP are serving as legal counsel to Southern Company. About Southern Company Southern Company (NYSE: SO) is America's premier energy company, with 46,000 megawatts of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in four states, natural gas distribution companies in seven states, a competitive generation company serving wholesale customers across America and a nationally recognized provider of customized energy solutions, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are creating new products and services for the benefit of customers. We are building the future of energy by developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity and the number one Company for Progress by DiversityInc, and designated as one of America's Best Employers by Forbes magazine. Visit our website at www.southerncompany.com . Cautionary Note Regarding Forward-Looking Statements This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements, among other things, concerning the expected timing of completion and financial and other benefits of the transactions described herein. These forward-looking statements are often characterized by the use of words such as "expect," "anticipate," "plan," "believe," "may," "should," "will," "could," "continue" and the negative or plural of these words and other comparable terminology. Although Southern Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, including, but not limited to, factors and assumptions regarding the items outlined above. Actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things, the following: the failure to receive, on a timely basis or otherwise, the required approvals by government or regulatory agencies (including the terms of such approvals); the risk that a condition to closing of one or more of the transactions may not be satisfied; the inability to achieve the expected financial benefits of the proceeds generated by the transactions; and other risk factors relating to the energy industry, as detailed from time to time in Southern Company's reports filed with the Securities and Exchange Commission. There can be no assurance that any of the transactions will in fact be consummated. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found under Item 1A. in Southern Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017. Southern Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions with respect to Southern Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. All subsequent written and oral forward-looking statements concerning the transactions or other matters attributable to Southern Company or any other person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above. The forward-looking statements contained herein speak only as of the date of this release. Southern Company undertakes no obligation to update or revise any forward-looking statement, except as may be required by law. View original content with multimedia: releases/southern-company-announces-sale-of-certain-florida-assets-to-nextera-energy-300651718.html SOURCE Southern Company

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BRIEF-Baxter Expects Sales To Grow ~5 Pct On Compounded Annual Basis At Constant Currency Rates From 2018 To 2023

May 21 (Reuters) - Baxter International Inc: * BAXTER HIGHLIGHTS BUSINESS STRATEGIES AND INNOVATION AT 2018 INVESTOR CONFERENCE * BAXTER INTERNATIONAL INC - BAXTER EXPECTS TO GROW SALES 4 TO 5 PERCENT ON A COMPOUNDED ANNUAL BASIS AT CONSTANT CURRENCY RATES FROM 2018 THROUGH 2020 * BAXTER INTERNATIONAL INC - NOW EXPECTS A 2020 ADJUSTED OPERATING MARGIN OF 20 TO 21 PERCENT AND ADJUSTED DILUTED EARNINGS OF $3.60 TO $3.75 PER SHARE * BAXTER INTERNATIONAL INC - NOW EXPECTS FREE CASH FLOW (OPERATING CASH FLOW LESS CAPITAL EXPENDITURES) OF APPROXIMATELY $2.1 BILLION IN 2020 * BAXTER INTERNATIONAL - EXPECTS SALES TO GROW APPROXIMATELY 5 PERCENT ON A COMPOUNDED ANNUAL BASIS AT CONSTANT CURRENCY RATES FROM 2018 TO 2023 * BAXTER INTERNATIONAL - IN 2023, ANTICIPATES AN ADJUSTED OPERATING MARGIN OF 23 TO 24 PERCENT AND ADJUSTED DILUTED EARNINGS OF $4.90 TO $5.05 PER SHARE * BAXTER INTERNATIONAL INC - ALSO EXPECTS TO GENERATE FREE CASH FLOW OF APPROXIMATELY $2.65 BILLION IN 2023 Source text for Eikon: Further company coverage:

https://www.reuters.com/article/brief-baxter-expects-sales-to-grow-5-pct/brief-baxter-expects-sales-to-grow-5-pct-on-compounded-annual-basis-at-constant-currency-rates-from-2018-to-2023-idUSFWN1SS0HN

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Perth Mint's April gold sales halve m/m, silver sales dive

May 2, 2018 / 4:03 AM / Updated 10 hours ago Perth Mint's April gold sales halve m/m, silver sales dive Reuters Staff 3 Min Read May 2 (Reuters) - The Perth Mint's sales of gold products plunged about 49.3 percent in April from a month earlier, while silver sales dived about 53 percent, the mint said in a blog post on its website on Wednesday. Sales of gold coins and minted bars fell to 15,161 ounces in April from 29,883 ounces in March, the mint said. Gold sales were up about 45 percent in April compared with the same month last year. Silver sales in April fell to 458,655 ounces, and registered a 2.2 percent decline compared with the same time last year. The Perth Mint refines more than 90 percent of the newly mined gold in Australia, the world's second-largest gold producer after China. Spot gold prices fell about 0.7 percent in April. Period Gold (oz) Silver (oz) (year-month) 2018-April 15,161 458,655 2018-March 29,883 975,921 2018-Feb 26,473 992,954 2018-Jan 37,174 1,067,361 2017-Dec 27,009 874,437 2017-Nov 23,901 544,436 2017-Oct 44,618 999,425 2017-Sept 46,415 697,849 2017-Aug 23,130 392,091 2017-July 23,675 1,167,963 2017-June 19,259 1,215,071 2017-May 29,679 826,656 2017-April 10,490 468,977 2017-March 22,232 716,283 2017-Feb 25,257 502,353 2017-Jan 72,745 1,230,867 2016-Dec 63,420 430,009 2016-Nov 54,747 984,622 2016-Oct 79,048 1,084,213 2016-Sept 58,811 1,031,858 2016-Aug 14,684 376,461 2016-July 16,870 693,447 2016-June 31,368 1,220,817 2016-May 21,035 974,865 2016-April 47,542 1,161,766 2016-March 47,948 1,756,238 2016-Feb 37,063 1,049,062 2016-Jan 47,759 1,473,408 (Reporting by Arpan Varghese in Bengaluru; Editing by Subhranshu Sahu)

https://www.reuters.com/article/perthmint-sales/perth-mints-april-gold-sales-halve-m-m-silver-sales-dive-idUSL3N1S91AT

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Great Panther Silver Announces COO Departure

TSX: GPR NYSE AMERICAN: GPL VANCOUVER, May 7, 2018 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR) (NYSE American: GPL) ("Great Panther"; or the "Company") today announces that Ali Soltani will be stepping down from his role as Chief Operating Officer ("COO") effective May 31, 2018. Mr. Soltani will continue to provide services on a part-time basis until September 30, 2018 as Senior Technical Advisor to Great Panther's management team. "On behalf of the board and all the employees of Great Panther, I want to sincerely thank Ali for his dedicated service to the Company as COO and wish him the best in his next chapter", stated Jim Bannantine, President and CEO. "Ali joined us in 2014, and we have benefited greatly from his leadership, expertise and extensive experience in the mining industry." "There is never a perfect time to leave an organization like Great Panther", stated Mr. Soltani. "However, I believe the team the Company has in place to execute on current operations, develop projects and grow the business is strong, so I can start to transition now with the comfort that the Company has a promising future." Most recently, Mr. Soltani served as the lead executive for Great Panther's Coricancha Project in Peru, building a strong project and operating team and integrating other key Company personnel and technical consultants into the project. The Company remains on track to deliver an updated technical study on Coricancha before the end of the second quarter, and Mr. Soltani will continue to support the project over the following months in his capacity as Senior Technical Advisor. ABOUT GREAT PANTHER Great Panther Silver Limited is a primary silver mining and exploration company listed on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL. Great Panther's current activities are focused on the mining of precious metals from its two wholly-owned operating mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. The Company is also evaluating the restart of the Coricancha Mine in Peru, which it acquired in 2017, and continues to pursue the acquisition of additional mining operations or projects in the Americas. James Bannantine President & CEO View original content with multimedia: http://www.prnewswire.com/news-releases/great-panther-silver-announces-coo-departure-300643489.html SOURCE Great Panther Silver Limited

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EMERGING MARKETS-Argentina peso hits record low; central bank intervenes

EMERGING MARKETS-Argentina peso hits record low; central bank intervenes Published 16 Hours Ago Reuters (Updates prices) SAO PAULO/BUENOS AIRES, May 11 (Reuters) - Argentina's peso tumbled to a record low against the dollar on Friday, prompting the central bank to intervene in the spot market for a second straight day, as talks for an International Monetary Fund financing line failed to calm traders. Argentina's central bank sold about $1 billion in the foreign exchange market on Friday, traders said, as the peso weakened 2.74 percent to an all-time closing low of 23.35 per U.S. dollar. For the week, the peso weakened 6.30 percent, and for the first 11 days of May it weakened 12.03 percent. On Thursday, IMF Director Christine Lagarde said she instructed her team to continue discussions toward a fund-supported program for Argentina. The Argentine government has hiked the benchmark interest rate some 1,275 basis points in recent weeks and announced it would seek a so-called "high access stand-by" agreement from the IMF to stabilize the country's economy. Investors "are continuing to unwind their positions (in peso-denominated assets) to dollarize (their portfolios)," said a Buenos Aires-based trader. "The central bank had to sell dollars once again, but they were absorbed by the market immediately and the exchange rate didn't fall." Across Latin America, some other major markets also saw their currencies weaken. In Brazil, the real currency was trading down 1.53 percent against the dollar. Traders said they were adopting defensive positions ahead of a new presidential election opinion poll. "Markets are hoping for a candidate with a reformist vision rising in the polls, which hasn't happened yet," wrote brokerage Advanced Corretora in a report. In Mexico, the peso fell 1.07 percent after Mexican Economy Minister Ildefonso Guajardo said the nation would not be rushed into a poor North American Free Trade Agreement deal and that plenty of issues with the negotiations were outstanding. (Reporting by Gram Slattery in Sao Paulo and Walter Bianchi in Buenos Aires; Editing by David Gregorio and Rosalba O'Brien)

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UPDATE 9-Oil surges on threat to Venezuela's PDVSA, Iran worries

* Brent jumps to more than $75/barrel, WTI above $70/barrel Shanghai futures hit record price * Venezuela oil exports under threat * U.S. has May 12 deadline to decide on Iran sanctions (New throughout, updates prices, market activity and comments; new byline, changes dateline, previous LONDON) By Ayenat Mersie NEW YORK, May 7 (Reuters) - Oil prices rose to their highest levels since late 2014 on Monday, boosted by the latest troubles for Venezuelan oil company PDVSA and a looming decision on whether the United States will re-impose sanctions on Iran. Brent crude oil futures were at $75.81 a barrel at 10:20 a.m. EDT (1420 GMT), up 94 cents. At the session high, they touched their peak since November 2014 at $75.91. U.S. West Texas Intermediate (WTI) crude futures rose 69 cents to $70.40, the first time since November 2014 that WTI had climbed above $70. China's Shanghai crude oil futures, launched in March, broke their dollar-converted record high, touching $72.54. U.S. oil major ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award, three sources told Reuters. The move could deal a further blow to the company's declining oil output and exports. "If ConocoPhillips is successful, then it will limit the revenues PDVSA will have and give them even more problems paying their bills and producing their oil," said Gene McGillian, manager of market research at Tradition in Stamford. "Venezuela seemed to get support over the last year from Russia and China. So now there's the question of what kind of deal will they have to make in order to get even more support?" McGillian said. Venezuela's oil output has halved since the early 2000s to 1.5 million barrels per day (bpd), hit by a lack of investment. Saudi Arabian Energy Minister Khalid al-Falih said he was concerned about possible shortages of spare crude production capacity. Also boosting prices is the widespread expectation that U.S. President Donald Trump will withdraw from the Iranian nuclear pact. Trump has a May 12 deadline to determine whether to extend sanction waivers. British Foreign Secretary Boris Johnson is in the United States in an effort to convince the Trump administration to stay in the deal. "The extraterritorial nature of U.S. sanctions, which cover energy, shipbuilding, finance, trade, insurance, etc., means that ... Iran's oil exports could credibly be curtailed by 200,000-300,000 bpd," RBC Capital Markets analyst Helima Croft said in a note. Russian Energy Minister Alexander Novak pledged Russia's 100 percent compliance in May with an OPEC-led pact to reduce production. But U.S. output has soared by more than a quarter in the past two years to 10.62 million bpd <C-OUT-T-EIA> and is likely to rise further this year as energy companies keep drilling. (Additional reporting by Libby George in London and Henning Gloystein in Singapore Editing by Alexander Smith and David Gregorio)

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OneJet Enters Agreement to Acquire Ultimate JetCharters

NEW YORK, May 1, 2018 /PRNewswire/ -- OneJet , the air transportation network providing nonstop connectivity within medium-size markets, today announced the completion of an acquisition agreement with Ultimate JetCharters. As one of the country's premier charter operators, Ultimate JetCharters operates 30-seat Dornier and Embraer regional jet aircraft for private charter clients, as well as per-seat scheduled services on select routes under the Ultimate Air Shuttle brand. The combined operation will have a collective fleet of nearly 25 aircraft by the end of 2018, including aircraft operated by Ultimate and existing operating partner, Contour Airlines. Ultimate will be integrated into OneJet's network during the course of the next month, with flights beginning on June 4th. Concurrently, OneJet will continue to accelerate the addition of Embraer ERJ aircraft to its network throughout the course of 2018; the company introduced the aircraft with the launch of service between Buffalo and Albany earlier this year. The Ultimate Air Shuttle brand will remain independent and continue to operate per-seat scheduled services to and from Cincinnati, as well as private charters for corporate, casino and collegiate clients. "The Ultimate team is renowned by both customers and industry colleagues for its stellar operational reliability and customer service, with over 30 years of experience providing a wonderful product to both corporate and leisure customers," OneJet CEO Matthew Maguire said. "The opportunity to integrate this demonstrated level of premium service, expertise and infrastructure within our expanding network of point-to-point regional routes will further enhance the travel experience and service options for our collective customers, providing a wonderful platform for both organizations' continued growth." Ultimate JetCharters CEO John Gordon said: "Ultimate JetCharters and Ultimate Air Shuttle were built on the foundation of serving the customer. That mission will not change. In fact, combining the strengths of both companies will provide an even better service experience and additional travel options for our customers. We look forward to continuing to build a culture and operation built on these values and leveraging the capabilities of each company." Together, the companies' networks will serve over 17 cities, including Cincinnati, Pittsburgh, Milwaukee, Albany, Buffalo, Hartford, West Palm Beach, Kansas City, New York (via Morristown, New Jersey), Chicago, Charlotte, Cleveland, Indianapolis, Louisville, Atlanta, Columbus and Raleigh-Durham. OneJet will make various schedule and routing adjustments during May, including the announcement of several new routes, as the Ultimate operations are integrated into its network. For additional information about the companies, visit www.onejet.com or www.ultimateairshuttle.com . About OneJet OneJet is an air transportation network that provides consumers increased access to nonstop travel in small to midsize markets at relatively low cost. Services operate from the main commercial terminals and airports in markets served and feature TSA PreCheck access, expedited boarding and complimentary onboard amenities, including high-speed internet access. All flights are operated by regionally based operating partners featuring ARGUS Platinum safety-rated and TSA-certified operations. The company incorporates former senior leadership from the major U.S. airlines, the U.S. Department of Transportation, leading U.S. aircraft manufacturers and the TSA. About Ultimate JetCharters and Ultimate Air Shuttle Founded in 1984 by John Gordon, Ultimate is the recognized leader in corporate shuttle and group travel throughout the United States. The company operates a fleet of 30-seat Dornier 328 and Embraer 135LR jets, providing highly personalized and reliable service for corporate shuttles, sports team/fan travel, project shuttles, incentive/group travel and casino trips. In July 2009, Ultimate JetCharters revolutionized air travel by successfully launching its Ultimate Air Shuttle public charter service between Cincinnati and New York City in July 2009. With services operating Monday through Friday, business and leisure travelers enjoy "VIP Travel for the Cost of Commercial" on Ultimate's public charter flights out of Cincinnati's Lunken Airport. For more information on Ultimate Air Shuttle, please visit www.ultimateairshuttle.com . Media Contact Loren Antonio Duran 917.353.0949 Loren.Duran@havas.com View original content with multimedia: http://www.prnewswire.com/news-releases/onejet-enters-agreement-to-acquire-ultimate-jetcharters-300640138.html SOURCE OneJet

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Caterpillar Names New Chief Financial Officer

DEERFIELD, Ill., May 4, 2018 /PRNewswire/ -- Following an extensive global search, Caterpillar Inc. (NYSE: CAT) announced today its board of directors has appointed Andrew Bonfield as chief financial officer (CFO) effective September 1, 2018. Bonfield will succeed Brad Halverson, whose retirement became effective May 4, 2018. Bonfield brings more than three decades of financial expertise to the role, most recently serving as Group CFO and board member of National Grid plc, a British multinational electricity and gas utility company. "Andrew's global financial experience across a variety of industries will serve Caterpillar and our stakeholders well," said CEO Jim Umpleby. "We look forward to him joining our executive office." Prior to Bonfield's eight years at National Grid, he was CFO at British confectionary company Cadbury plc. From 2002 to 2008, he was executive vice president and CFO of Bristol-Myers Squibb Company, an American pharmaceutical company. Bonfield's other experience includes the role of finance director of BG Group plc and CFO of Smithkline Beecham plc. Since 2010, he has been a non-executive director and chair of the audit committee of British retailer, Kingfisher plc. Bonfield also chairs the 100 Group, which represents finance directors of the top 100 U.K. companies listed on the London Stock Exchange. Bonfield is a chartered accountant who holds a bachelor's degree from the University of Natal in Durban, South Africa. Finance Services Division Vice President Joe Creed Named Interim CFO Effective immediately, the board of directors has appointed Finance Services Division (FSD) Vice President Joe Creed as interim CFO, a role he will assume in addition to his vice president duties. "Joe's experience as vice president of the Financial Services Division makes him well suited to serve as interim CFO. He will bring the necessary leadership and continuity to this important transition," said Umpleby. Creed joined Caterpillar in 1997 and has held numerous positions of increasing responsibility within Corporate Accounting, the Track-Type Tractors Division and Large Power Systems Division, where he served as senior business resource manager. He then served as chief financial officer for the Energy & Transportation segment prior to becoming FSD vice president in 2017. Creed is a certified public accountant and holds a bachelor's degree from Western Illinois University. Once Bonfield joins Caterpillar, Creed will continue serving in his capacity as FSD Vice President. About Caterpillar For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2017 sales and revenues of $45.462 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com . To connect with us on social media, visit

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Australia shares set to start week higher, NZ edges up

May 7 (Reuters) - Australian shares are expected to gain at open on Monday, helped by strength seen in oil prices and U.S. equities on Friday. Brent crude oil ended on Friday up $1.25 at $74.87 a barrel as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. Meanwhile, the three major U.S. stock indexes rose more than 1 percent after weaker-than-expected U.S. wage growth helped to calm investor fears about rising interest rates and inflation. The local Australian share price index futures rose 0.6 percent on Monday, or 38 points, to 6,092, a 29.1-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.6 percent on Friday. New Zealand's benchmark S&P/NZX 50 index rose 0.2 percent in early trade primarily on gains in consumer staples and telecom services stocks. (Reporting by Aaron Saldanha in Bengaluru; Editing by Sandra Maler)

https://www.reuters.com/article/australia-stocks-morning/australia-shares-set-to-start-week-higher-nz-edges-up-idUSL3N1SD0HA

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What to do if you can't afford a 20 percent down payment

If you're interested in becoming a homeowner, experts typically recommend saving up 20 percent of the purchase price for a down payment. But if you can't afford the full 20 percent, that doesn't necessarily mean you can't become a homeowner, says AJ Smith, VP of financial education at SmartAsset . If you're still interested in buying but know you can't afford to put down 20 percent, follow these three steps to see if you'll be able to swing it. Take stock of your personal finances "It's really good to have a handle on your personal finance situation at the time," Smith tells CNBC Make It . "What your budget looks like, what you feel comfortable with, what not having that 20 percent down will do to your monthly mortgage payments." In order to understand if you can still afford to buy, you need to take a deep dive into your own expenses, bills and income, and see how much you're able to dedicate toward housing each month. If you find that you're already struggling to stay on top of your bills, this might not be the right time. Be thorough and honest when you crunch the numbers, so you're getting an accurate representation of your overall financial picture. For example, how much are you paying in rent? Are you considering moving to a cheaper rental while you continue to save? If that's the case, you'll want to factor in the cost of moving twice into your current expenses, Smith says. You might find that it's cheaper to go ahead and buy the house, even if it means ponying up for private mortgage insurance. You should also take the time to calculate how buying will affect other financial goals, such as retirement or college funds. After all, "there's a bigger financial picture to be thinking about," and buying a place is just "one piece of it," Smith says. show chapters Real estate moguls Sean Conlon and Sidney Torres agree: There is a right amount for a down payment 1:16 PM ET Tue, 27 June 2017 | 01:03 Figure out how much you can comfortably spend Next, understand how much you can comfortably put towards housing each month without taking on an overwhelming amount of debt . Smith warns that overstretching your budget is one of the biggest mistakes homeowners can make. "The general rule of thumb is to no spend more than 30 percent of your gross monthly income on housing," she says. But outside of that, the amount of debt you can handle depends on a host of other factors. "It's really what you're comfortable with, how secure you are in your job, how much savings you'll have left over," Smith says. "It's a good idea not to deplete your savings for that down payment and those upfront costs because you do want to maintain that emergency fund in case something were to happen." show chapters The biggest mistake millennial homebuyers make 1:47 PM ET Fri, 9 June 2017 | 00:53 Factor in PMI A house's sticker price never tells the full story. Don't forget to factor in how much private mortgage insurance would affect your monthly payments, Smith says. PMI is a type of insurance that protects lenders if you aren't able to fulfill your monthly obligations. It's typically required of anyone who makes a down payment of less than 20 percent. Ask yourself: How much will PMI increase your monthly costs? Would you have to deplete your savings to put a full 20 percent down? What are your other housing options if you don't buy right now? In addition to paying PMI, you'll also want to consider other expenses such as closing costs, insurance fees, property taxes and repairs and maintenance. " Look at a calculator that shows you so you're not just guessing," Smith advises. "Don't say, 'It's probably better to buy right now,' or 'My cousin said it was better to buy right now.' Running those numbers is the key thing, because then you can actually see what are you talking about." Don't miss: Don't make this mistake if you think you can't afford to buy a home Like this story? Like CNBC Make It on Facebook ! show chapters Don't buy a home until you've considered these factors 7:56 AM ET Thu, 13 April 2017 | 01:20

https://www.cnbc.com/2018/05/21/what-to-do-if-you-cant-afford-a-20-percent-down-payment.html

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Flowers Foods Increases Quarterly Dividend

THOMASVILLE, Ga., May 24, 2018 /PRNewswire/ -- Flowers Foods, Inc. (NYSE: FLO), producer of Nature's Own, Wonder, Dave's Killer Bread, Tastykake and other bakery foods, today announced that its board of directors has declared a quarterly dividend of $0.18 per share, an increase of 5.9% over the same quarter last year. This is the 63rd consecutive quarterly dividend paid by the company and is payable on June 21, 2018 to shareholders of record on June 7, 2018. This action increases the annualized dividend rate to $0.72 per share from $0.68 per share at this time last year. "This dividend increase reflects confidence by Flowers' board and management team in the company's long-term ability to generate solid cash flows and deliver value to shareholders," said Allen L. Shiver, Flowers Foods' president and CEO. "As we make significant progress with our strategic initiatives under Project Centennial, we intend to use our strong financial position to support brand growth, make capital investments, deliver shareholder returns, and pursue strategic acquisitions." Flowers' annual shareholders meeting will be held today at 11:00 a.m. Eastern in Thomasville, Ga. About Flowers Foods Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of fresh packaged bakery foods in the United States with 2017 sales of $3.9 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company's top brands are Nature's Own, Wonder, Dave's Killer Bread, and Tastykake. Learn more at www.flowersfoods.com . Forward-Looking Statements Statements contained in this press release that are not historical facts are forward-looking statements. Forward-looking statements relate to current expectations regarding our future financial condition, performance and results of operations, planned capital expenditures, long-term objectives of management, supply and demand, pricing trends and market forces, and integration plans and expected benefits of transactions and are often identified by the use of words and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "would," "is likely to," "is expected to" or "will continue," or the negative of these terms or other comparable terminology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to, (a) general economic and business conditions and the competitive conditions in the baked foods industry, including promotional and price competition, (b) changes in consumer demand for our products, including changes in consumer behavior, trends and preferences, including health and whole grain trends, and the movement toward more inexpensive store-branded products, (c) the success of productivity improvements and new product introductions, (d) a significant reduction in business with any of our major customers including a reduction from adverse developments in any of our customer's business, (e) fluctuations in commodity pricing, (f) energy and raw material costs and availability and hedging and counterparty risk, (g) our ability to fully integrate recent acquisitions into our business, (h) our ability to achieve cash flow from capital expenditures and acquisitions and the availability of new acquisitions that build shareholder value, (i) our ability to successfully implement our business strategies, including those strategies the company has initiated under Project Centennial, which may involve, among other things, the integration of recent acquisitions or the acquisition or disposition of assets at presently targeted values, the deployment of new systems and technology and an enhanced organizational structure, (j) consolidation within the baking industry and related industries, (k) disruptions in our direct-store delivery system, including litigation or an adverse ruling from a court or regulatory or government body that could affect the independent contractor classification of our independent distributors, (l) increasing legal complexity and legal proceedings that we are or may become subject to, (m) product recalls or safety concerns related to our products, and (n) the failure of our information technology systems to perform adequately, including any interruptions, intrusions or security breaches of such systems. The foregoing list of important factors does not include all such factors, nor necessarily present them in order of importance. In addition, you should consult other public disclosures made by the company, including the risk factors included in our most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and disclosures made in other filings with the SEC and company press releases, for other factors that may cause actual results to differ materially from those projected by the company. We caution you not to place undue reliance on forward-looking statements, as they speak only as of the date made and are inherently uncertain. The company undertakes no obligation to publicly revise or update such statements, except as required by law. FLO-IR FLO-DIV View original content: http://www.prnewswire.com/news-releases/flowers-foods-increases-quarterly-dividend-300654337.html SOURCE Flowers Foods, Inc.

http://www.cnbc.com/2018/05/24/pr-newswire-flowers-foods-increases-quarterly-dividend.html

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Marvel Comics Stan Lee $1 billion lawsuit preposterous says Chinese firm

A Chinese company has said it is "preposterous" that Stan Lee, the former editor-in-chief at Marvel Comics, did not know he was signing over his name, image and likeness to it on an exclusive basis. Lee, who co-created Spider-Man, the Hulk and the X-Men, filed a $1 billion suit against Pow Entertainment, a company he co-founded in 2001, on Tuesday. He alleges that his identity and work was taken fraudulently so that Pow could then be sold to the Chinese firm Camsing International Holdings. Lee claims that the co-founders of Pow, Shane Duffy and Gill Champion, used deception to make him sign-over his name, image and likeness on a wholly exclusive basis. Source: Marvel A promotion image from Marvel's 2018 hit "The Black Panther". In the lawsuit filed in state Superior Court in Los Angeles, the 95-year-old comic book legend said his signature was either forged, imposed from another document or induced by a bait-and-switch tactic. In a response Friday, Camsing International Holdings issued a statement to CNBC through a firm run by Los Angeles-based publicity consultant Howard Bragman. In it, Camsing said it had reviewed the complaint, adding that "the notion that Mr Lee did not knowingly grant Pow exclusive rights to his creative works or his identity is so preposterous that we have to wonder whether Mr. Lee is personally behind this lawsuit." show chapters Stan Lee: Special effects revitalized comics 1:23 PM ET Mon, 18 July 2016 The statement added that the complaint, although published, had not yet been properly served but that when it was, Camsing would "look forward to presenting its evidence in court." In April, Lee issued a separate suit against former business partner Jerardo Olivarez claiming that he had transferred $4.6 million out of his bank account without authorization. He also claimed Olivarez was carrying out bogus schemes to enrich himself. Olivarez could not be located for comment. Pow Entertainment did not immediately respond to a CNBC request for comment from Duffy and Champion.

https://www.cnbc.com/2018/05/18/marvel-comics-stan-lee-1-billion-lawsuit-preposterous-says-chinese-firm.html

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BRF's Net Revenue Reaches R$ 8.2 Billion In Q1 2018

SAO PAULO, May 10, 2018 /PRNewswire/ -- Net operating revenue of BRF reached 8.2 billion BRL in Q1 2018 - an increase of 5% over the same quarter of the previous year. The growth reflects the progress of the volumes sold especially in Brazil, Turkey, China, and Hong Kong, which together have registered a high of 5.7%. Gross profit in the period increased 11.7%, reaching 1.5 billion BRL. Net losses declined 60.2% to 114 million BRL. Adjusted EBITDA totaled 802 million BRL - up 40.7% compared to the same period last year. In Brazil, the highlight is the volume growth of 9.6%, driven by an increase of 22.5% y/y and 4.7% y/y in the in-natura and processed segments, respectively. In fact, the performance reflects the strategy of offering a portfolio of products more suited to the current reality of consumption in the country, adjusting the trade execution in a market with greater availability of products. In addition, volume was also driven by a larger number of customers, which reached 191,000 points of sale in Q1 2018. The Muslim market-driven unit OneFoods also recorded a good operational performance in the period, with a total net revenue of 1.8 billion BRL in Q1 2018, an increase of 39.6% over the same quarter of the previous year. When the acquisition of Banvit, in June 2017, is excluded from the analysis, the net revenue shows a growth of 1.4% and a drop of 10.4% in volume. The result reflects the best balance of supply and demand and a local effort for the recovery of margin. The highlight in the international division, which includes the operations of Asia, Europe, the Americas, and Africa, was the expansion of the adjusted EBITDA margin, with a growth of 8%. In this period, the net revenue totaled 1.08 billion BRL, compared to 943 million BRL recorded in the previous year - a high of 12.9%. Net revenue in the Southern Cone -- Argentina, Bolivia, Chile, Paraguay, and Uruguay -- increased by 12.4% compared to the previous quarter, reaching 592 million BRL. The index was impacted positively by a growth of 13.2% with the sale of in natura turkey in Chile. On the other hand, the higher cost of the raw material for bovine, turkey, swine and poultry put a pressure on the gross margin of 1.1% in the region. Logo - http://mma.prnewswire.com/media/154600/brf_logo.jpg View original content: http://www.prnewswire.com/news-releases/brfs-net-revenue-reaches-r-8-2-billion-in-q1-2018--300646846.html SOURCE BRF

http://www.cnbc.com/2018/05/10/pr-newswire-brfs-net-revenue-reaches-r-8-point-2-billion-in-q1-2018.html

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BRIEF-Soros Fund Management Dissolves Share Stake Qualcomm, Twitter

May 15 (Reuters) - Soros Fund Management: * SOROS FUND MANAGEMENT TAKES SHARE STAKE IN AMERICAN EXPRESS TO 181,847 SHARES - SEC FILING * SOROS FUND MANAGEMENT UPS SHARE STAKE IN BANK OF AMERICA TO 2.4 MILLION SHARES FROM 264,600 SHARES - SEC FILING * SOROS FUND MANAGEMENT REPORTS SHARE STAKE IN NEW YORK TIMES OF 126,400 SHARES - SEC FILING * SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN QUALCOMM - SEC FILING * SOROS FUND MANAGEMENT CUTS SHARE STAKE IN URBAN OUTFITTERS TO 569,339 SHARES FROM ABOUT 1 MILLION SHARES - SEC FILING * SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN TWITTER - SEC FILING * SOROS FUND MANAGEMENT UPS SHARE STAKE IN ADVANCED MICRO DEVICES TO 392,000 SHARES FROM 26,300 SHARES - SEC FILING * SOROS FUND MANAGEMENT REPORTS SHARE STAKE IN AIG OF 298,763 SHARES - SEC FILING * SOROS FUND MANAGEMENT UPS SHARE STAKE IN COTY TO 1.1 MILLION CLASS A SHARES FROM 130,100 CLASS A SHARES - SEC FILING * SOROS FUND MANAGEMENT - CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017 Source For the quarter ended Mar 31, 2018: bit.ly/2L5ptEX Source For the quarter ended Dec 31, 2017: bit.ly/2C2PHH3 Our Standards: The Thomson Reuters Trust Principles.

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UPDATE 2-U.S. oil rises above $70 for first time since Nov. 2014 on Venezuela, Iran worries

Venezuela, Iran worries@ * WTI rises above $70 per barrel, Brent jumps over $75 a barrel * Economic crisis in Venezuela threatens its oil exports * U.S. deadline over Iran looms on May 12 * But highest U.S. oil drilling since 2015 holds market back (Re-leads with WTI above $70, adds Venezuela detail) SINGAPORE, May 7 (Reuters) - U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014, as a deepening economic crisis in Venezuela threatened the country's already tumbling oil supplies. The concerns added to worries over a looming decision on whether the United States will walk away from a deal with Iran and instead re-imposes sanctions on Tehran, keeping international oil markets on edge. U.S. West Texas Intermediate (WTI) crude futures rose 0.7 percent to trade at $70.18 per barrel at 0242 GMT, up 46 cents from their last settlement. Brent crude oil futures were at $75.22 per barrel, up 35 cents, or 0.5 percent from their last close. Analysts warned that the deepening economic crisis in major oil exporter Venezuela threatened to further crimp its production and exports. Shannon Rivkin, investment director of Australia's Rivkin Securities, said that oil prices had been driven up due to "growing concerns over the economic collapse of Venezuela and its oil industry, plus possible new sanctions against Iran from the Trump administration." U.S. oil firm ConocoPhillips has moved to take key Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award, actions that could further impair PDVSA's declining oil production and exports. Venezuela's oil output has halved since the early 2000s to just 1.5 million barrels per day (bpd), as the South American country has failed to invest enough to maintain its petroleum industry. Beyond Venezuela's woes Greg McKenna, chief market strategist at futures brokerage AxiTrader, said "the big story this week is going to be about oil and the Iran Nuclear deal." Most market participants expect Trump to withdraw from the pact, he said. Iran re-emerged as a major oil exporter in 2016 after international sanctions against it were lifted in return for curbs on Iran's nuclear program. Expressing doubts over Iran's sincerity, Trump has threatened to walk away from the 2015 agreement by not extending sanctions waivers when they expire on May 12, which would likely result in a reduction of Iran's oil exports. Some traders, however, are becoming cautious about ever higher oil prices. Hedge funds cut their net long U.S. crude futures and options positions in the week to May 1 by 11,825 contracts to 444,060, according to the U.S. Commodity Futures Trading Commission. Looming over markets is surging U.S. output <C-OUT-T-EIA>, which has soared by more than a quarter in the last two years, to 10.62 million bpd. U.S. output will likely rise further this year, towards or past Russia's 11 million bpd, as its energy firms keep drilling for more. U.S. energy companies added nine oil rigs looking for new production in the week to May 4, bringing the total count to 834, the highest level since March 2015, energy services firm Baker Hughes said last Friday. (Reporting by Henning Gloystein; editing by Richard Pullin)

https://www.cnbc.com/2018/05/06/reuters-america-update-2-u-s-oil-rises-above-70-for-first-time-since-nov-2014-on-venezuela-iran-worries.html

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US STOCKS-Oil surge spurs Wall St turnaround, sends Russell 2000 to record

* Energy stocks jump over 1 pct as oil tops $80 * Cisco, Walmart drop after earnings reports * U.S. expects China to bring proposal to trade talks * Indexes up: Dow 0.12 pct, S&P 0.21 pct, Nasdaq 0.19 pct (Changes comment, adds details, updates prices) May 17 (Reuters) - Energy and industrial stocks led Wall Street higher on Thursday and the small-cap Russell 2000 hit a record, even as a rise in U.S. bond yields to fresh seven-year highs suggested more competition for equities and investors fretted over geopolitics. The energy sector rose 1.41 percent, giving the benchmark S&P 500 the biggest boost, as Brent crude hit $80 per barrel for the first time since November 2014 as renewed U.S. sanctions threatened a fall in exports from Iran in an already tightening market. Smaller companies continued this year's trend of outperforming their larger rivals with the Russell 2000 reaching a record high for the second session in a row. Data showed the number of Americans on unemployment rolls last week fell to the lowest since 1973. Other data showed a pickup in factory activity in the mid-Atlantic region this month, with manufacturers saying they were asking for higher prices for their products. The industrial sector was up 0.61 percent, the second-biggest gainer among the 11 major S&P sectors. "You have kind of a mixed bag of earnings numbers ... the economic data generally speaking was pretty good and that's leading to a little bit of mild buying in the market," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. On the Russell 2000, Nolte said, "I think you're starting to see people come into that because it's the only index that has put in a new high and you've got some interest." At 11:46 a.m. EDT, the Dow Jones Industrial Average was up 30.33 points, or 0.12 percent, at 24,799.26, the S&P 500 was up 5.79 points, or 0.21 percent, at 2,728.25 and the Nasdaq Composite was up 14.08 points, or 0.19 percent, at 7,412.37. The three rate-sensitive sectors, real-estate, utilities and telecoms, were slightly lower. The market had opened in the red, weighed by a drop in Cisco and on jitters as U.S. 10-year Treasury yields hovered at 7-year highs and the United States and China started trade talks to try to avert a damaging tariff war. White House Chief Economic Adviser Larry Kudlow expects China to bring a proposal to the talks which would "extend the conversation and permit additional negotiations". Keeping the gains in check were Cisco's 2.8 percent drop, the most on the Dow, after the company's forecast indicated its transition to a software-focused business was a work in progress. Walmart slipped 1.1 percent, reversing premarket gains, after it said profit margins were under pressure, despite sales and earnings beating expectations. J.C. Penney tumbled 10.7 percent after its same-store sales missed estimates and the company cut its full-year profit forecast. Advancing issues outnumbered decliners for a 1.55-to-1 ratio on the NYSE and for a 2.05-to-1 ratio on the Nasdaq. The S&P index recorded 22 new 52-week highs and four new lows, while the Nasdaq recorded 108 new highs and 20 new lows. (Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)

https://www.cnbc.com/2018/05/17/reuters-america-us-stocks-oil-surge-spurs-wall-st-turnaround-sends-russell-2000-to-record.html

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UPDATE 2-Oil dips on signs of ample supply despite OPEC cuts, Iran sanctions

* U.S. crude stocks rise by 4.9 mln bbl to 435.6 mln bbl -API * Physical spot cargoes trade at discount to financial crude * Production by oil majors rising - S&P Global Ratings (Adds U.S. storage comment, updates prices) SINGAPORE, May 16 (Reuters) - Oil prices fell on Wednesday, weighed down by ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran. Brent crude futures were at $78.23 per barrel at 0445 GMT, down 20 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $71.08 a barrel, down 23 cents, or 0.3 percent, from their last settlement. Despite the dips, both financial oil benchmarks remained close to their November 2014 highs of $79.47 and $71.92 a barrel respectively, reached the previous day. But there are signs in physical crude markets that may give pause to financial investors. There are also signs that oil production will rise, especially at majors like ExxonMobil, Royal Dutch Shell , Chevron, BP and Total. "Aggregate production - both actual and projected - is growing for the majors," S&P Global Ratings said in a report published on Tuesday. Spot crude oil cargo prices are at their steepest discounts to futures prices in years as sellers are struggling to find buyers for West African, Russian and Kazakh cargoes, while pipeline bottlenecks trap supply in west Texas and Canada. The bottleneck in North America likely contributed to a 4.9 million barrel rise in U.S. crude oil inventories, to 435.6 million barrels, that the private American Petroleum Institute reported on Tuesday. "The API inventory data in the U.S. fits with ... a topping pattern or at least a decent pause for oil prices at the moment," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. Official U.S. government fuel storage data is due for release by the Energy Information Administration (EIA) later on Wednesday. "We expect the EIA report to display bearish results amidst higher rig counts and production levels in the U.S.," said Singapore-based brokerage Phillip Futures. Despite Wednesday's dips and some indicators implying the financial oil has overshot physical oil, overall crude market conditions have tightened since 2017 when the Organization of the Petroleum Exporting Countries (OPEC) started to withhold supplies to push up oil prices. With renewed U.S. sanctions looming against OPEC-member Iran and oil demand strong, analysts said crude markets will likely remain tight for much of the year. Stronger oil prices are also spilling into other markets. "A rising oil price brings upside price risk to all commodities," Morgan Stanley said in a note to clients this week. (Reporting by Henning Gloystein Editing by Joseph Radford)

https://www.cnbc.com/2018/05/16/reuters-america-update-2-oil-dips-on-signs-of-ample-supply-despite-opec-cuts-iran-sanctions.html

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Lighthouse Bank Announces Appointment of Interim CFO

SANTA CRUZ, Calif., May 17, 2018 /PRNewswire/ -- Lighthouse Bank (OTC-QB:LGHT), a top-rated locally owned and operated community bank, today announced that Angela Henderson, the company's Vice President/Controller has been appointed as interim Chief Financial Officer effective May 17, 2018. Ms. Henderson will replace Donald Soman who resigned from his position as CFO for personal reasons effective May 14, 2018. ABOUT LIGHTHOUSE BANK: Lighthouse Bank is a highly rated locally owned and operated full-service commercial bank with offices in Santa Cruz and Santa Clara Counties. The Bank's headquarters are located at 2020 North Pacific Avenue in Santa Cruz, CA. The Bank's Silicon Valley office is located at 19240 Stevens Creek Blvd, Cupertino, CA. The Bank is dedicated to providing exceptional personalized service and access to decision makers who are close at hand. Lighthouse Bank's unique worldwide ATM fee waiver program, complimentary business courier service and remote deposit capture product expand the Bank's geographical reach throughout Santa Cruz County and the Silicon Valley. Lighthouse Bank stock is actively traded via the Bank's market makers and online and full-service brokerage providers under the symbol LGHT . More information on the Bank's stock and historical financial performance may be located on the Bank's website at www.lighthousebank.net or by calling 831-600-4000. Member FDIC / Equal Housing Lender / SBA Preferred Lender The attached release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuation in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. View original content with multimedia: http://www.prnewswire.com/news-releases/lighthouse-bank-announces-appointment-of-interim-cfo-300650797.html SOURCE Lighthouse Bank

http://www.cnbc.com/2018/05/17/pr-newswire-lighthouse-bank-announces-appointment-of-interim-cfo.html

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‘Hi, It’s Amazon Calling. Here’s What We Don’t Like in Your City’

Amazon.com Inc. has made about 200 phone calls to cities the retail giant rejected for its second headquarters. Some of the cities say they are learning from the disappointing phone conversations and making changes. Cincinnati and Sacramento, Calif., are restructuring workforce development programs to focus on tech talent. Orlando, Fla., is considering starting a community fund to invest in local tech companies and draw more entrepreneurs. In Detroit, elected officials and business leaders are pushing a ballot initiative... RELATED VIDEO Is Amazon Going to Rule the World? Amazon wants to deliver everything you want to your doorstep, anywhere in the world. But the e-commerce giant faces several challenges in its pursuit of a global empire. WSJ's Karan Deep Singh breaks down the basics with the help of an Amazon delivery box.

https://www.wsj.com/articles/hi-its-amazon-calling-heres-what-we-dont-like-in-your-city-1525253400

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PRESS DIGEST-Canada-May 14

May 14, 2018 / 12:02 PM / in 11 minutes PRESS DIGEST-Canada-May 14 Reuters Staff 2 Min Read May 14 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Canadian Association of Mutual Insurance Companies says it was the subject of two "angry" phone calls from Finance Minister Bill Morneau's office aimed at blocking it from raising privacy concerns over new measures in the budget bill related to how banks use customer data. ( tgam.ca/2rEgK3y ) ** Kinder Morgan Inc has issued an ultimatum for Ottawa to clear away the obstacles British Columbia has raised to the pipeline by the end of May or it will walk away from the C$7.4 billion ($5.8 billion) project that Prime Minister Justin Trudeau has promised will be built. The federal government is expected to announce its measures to "de-risk" the pipeline project by the end of May. ( tgam.ca/2KXEZ5X ) ** For the first time in Ontario NDP history, women make up more than half of the party's candidate slate, Leader Andrea Horwath says, making it the highest percentage of the four mainstream parties in the province. ( tgam.ca/2Iijjn9 ) NATIONAL POST ** Sony Music Entertainment signed a deal with DHX Media Ltd, based in Nova Scotia, Canada, to acquire 49 per cent of the 80 per cent stake DHX holds in Peanuts. ( bit.ly/2rFwxiI ) ** A looming affordability crisis is poised to hit seniors across the country as the baby boom generation makes its long-predicted shift into its golden years, squeezing the supply of retirement home places and pushing up rents, according to a new report from the rating agency DBRS Ltd. ( bit.ly/2rFfxct ) $1 = 1.2767 Canadian dollars Compiled by Bengaluru newsroom

https://www.reuters.com/article/press-digest-canada/press-digest-canada-may-14-idUSL3N1SL4QB

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UPDATE 1-Slovenian appliances maker Gorenje receives three takeover bids

(Updates with details, background) LJUBLJANA, May 8 (Reuters) - Slovenian household appliances maker Gorenje has received three binding takeover bids, all from Asian firms, the company said in a statement on Tuesday. It said it will examine the bids and issue further news on the process by May 15. It did not elaborate. Local media citing unofficial sources said the bids were filed by Chinese household appliance makers Haier, Hefei Meiling and Hinsense Electric. The companies were not immediately available for comment. Gorenje, which is one of the largest Slovenian exporters and has market capitalisation of some 154 million euros ($182.35 million), said last year it was seeking a strategic partner to increase cost efficiency and strengthen the brand. In March it reported that its 2017 profit dropped by 84 percent due to strong competition and high production costs. Shares of Gorenje rose by 1.27 percent to 6.38 euros on Tuesday, before the news was released, while the blue-chip SBI index eased 0.13 percent. ($1 = 0.8445 euros) (Reporting by Marja Novak, editing by Louise Heavens)

https://www.reuters.com/article/gorenje-ma/update-1-slovenian-appliances-maker-gorenje-receives-three-takeover-bids-idUSL8N1SF66U

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Sparkcentral Appoints Joe Gagnon As New CEO

SAN FRANCISCO, Sparkcentral, Inc. today announced that the company's Board of Directors has appointed Joe Gagnon as Chief Executive Officer to lead the company through its next phase of growth. He will assume day-to-day leadership of the company and will also join Sparkcentral's Board of Directors. Gagnon, a contact center and enterprise SaaS software veteran, most recently served as Chief Customer Officer and SVP/Global GM for Cloud Solutions at Aspect Software. "It has been an honor to serve as the CEO of Sparkcentral since founding the company and I am unbelievably proud of what our team has accomplished together over the last several years. We have made meaningful progress toward our top company priorities and have made messaging-based customer support more convenient for enterprises and their customers than ever," stated Davy Kestens, Sparkcentral's Founder. Before joining Sparkcentral, Gagnon served in the C-suite at Aspect Software. He also was President/COO of Penn Foster, President of e-Dialog, and CEO of Exit41. Additionally, Gagnon has served as a Board Member for LiveVox and as an Advisory Board Member for Bright Pattern. Joe Gagnon has a passion for high performance, both professionally and personally, as an accomplished athlete, author, and entrepreneur. "The customer support market is poised for significant growth and I am incredibly excited to assume the role of CEO at this time." Gagnon shared, "We have a very talented team at Sparkcentral who are focused on innovating in the message-based software space and we are on our way to assuming a position of market leadership." "There couldn't be a better time for Sparkcentral to hire someone like Joe and I'm thrilled we're able to bring someone of his caliber on board," said Bob Spinner, Managing Director of Jackson Square Ventures and Sparkcentral Board Director. "The Global 5000 increasingly look to messaging to deliver excellent customer service and Sparkcentral's platform brings more convenience and, by way of software integrations, efficiency to customer interactions than ever before. Adding Joe to the team as CEO will allow us to leverage his experience to take Sparkcentral to the next level," he said. About Sparkcentral: Customer-obsessed companies use Sparkcentral's leading mobile and social customer engagement platform to manage and resolve customer service interactions over social and mobile channels in a simple, streamlined and fun way. With the fastest customer routing and prioritization technology in the business and innovative workflow optimization and reporting tools, Sparkcentral helps global brands like Delta Air Lines, Nordstrom, JetBlue, Western Union, Zappos and more deliver effortless customer service experiences and drive brand loyalty. A two-time CODiE Award winner for Best Customer Service Solution, Sparkcentral is headquartered in San Francisco, CA and has its EMEA headquarters in Hasselt, Belgium. Sparkcentral is backed by venerated venture capital investors, including Jackson Square Ventures, Founders Fund, Split Rock Partners, and LRM Capital. To learn more, visit http://www.sparkcentral.com and follow @Sparkcentral on Twitter. Press contact: Krysta Gahagen, Marketing Manager press@sparkcentral.com with multimedia: releases/sparkcentral-appoints-joe-gagnon-as-new-ceo-300644107.html SOURCE Sparkcentral

http://www.cnbc.com/2018/05/08/pr-newswire-sparkcentral-appoints-joe-gagnon-as-new-ceo.html

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German stocks - Factors to watch on May 15

BERLIN/FRANKFURT, May 15 (Reuters) - The following are some of the factors that may move German stocks on Tuesday: ALLIANZ Q1 results due. Net profit seen down 1.6 percent at 1.79 billion euros ($2.2 billion). Poll: COMMERZBANK Q1 results due. Net profit seen down 22 percent at 181 million euros. Poll: DEUTSCHE BANK Deutsche Bank is buying Indian Fintech Quantiguous Solutions, Handelsblatt reported, citing Transaction Banking chief John Gibbons. Deutsche Bank is shrinking the Executive Committee of its private and corporate client business to 16 from 24 members, according to an internal memo seen by Reuters. DEUTSCHE TELEKOM The management of unit T-Systems and trade union Verdi due to resume labour talks. MERCK Q1 results due. Adjusted EBITDA seen down 18 percent at 1.02 billion euros. Poll: RWE Q1 results due. Operating profit seen down 16 percent at 1.37 billion euros. Poll: THYSSENKRUPP Q2 results due. Adjusted EBIT seen up 22 percent at 501 million euros. Poll: AURUBIS Full Q2 results due. The group published key figures and raised it guidance on April 26. DEUTSCHE EUROSHOP Q1 results due. FFO seen up 7 percent at 36.8 million euros. Poll: DEUTSCHE WOHNEN Q1 results due. Adjusted FFO up 6 percent at 120 million euros. Poll: FRAPORT Monthly traffic figures due. The group said on May 9 that Frankfurt passenger traffic rose by 5.8 percent in April. HELLA German automotive parts company Hella HLE.DE is holding talks with potential investors over a sale of its wholesale activities, it said on Monday. METRO Full Q2 results due. The group published preliminary results and slashed its guidance on April 20. PROSIEBEN The broadcaster plans to invest more in German films, series and shows, and is discussing providing more news, chairman Werner Brandt tells Sueddeutsche Zeitung in an interview. SALZGITTER Full Q1 results due. The group publsihed preliminary results and raised its guidance on April 26. STROEER Q1 results due. CARL ZEISS MEDITEC Q2 results due. EBIT seen down 0.5 percent at 50.7 million euros. Poll: NORDEX Q1 results due. EBITDA seen down 49 percent at 26.3 million euros. Poll: BILFINGER Q1 results due. BIOTEST Q1 results due. CORESTATE CAPITAL Q1 results due. HHLA Q1 results due. INDUS HOLDING Q1 results due. TELE COLUMBUS Q1 results due. TLG IMMOBILIEN Q1 results due. WUESTENROT & WUERTTEMBERGISCHE Q1 results due. ENBW Q1 results due. PORSCHE SE Q1 results due. IPO Mutares said it was now expecting proceeds of up to 32 million euros from an IPO of unit STS Group, down from an initial target of 50 million. ANNUAL GENERAL MEETINGS K+S - 0.35 eur/shr dividend proposed LANXESS - 0.80 eur/shr dividend proposed COMPUGROUP MEDICAL - 0.35 eur/shr dividend proposed MEDIGENE - no dividend proposed RIB SOFTWARE - 0.18 eur/shr dividend proposed BILFINGER - 1.00 eur/shr dividend proposed BIOTEST - 0.04 eur/preference shr dividend proposed, no dividend proposed for ordinary shares PORSCHE SE - 1.76 eur/shr dividend proposed OVERSEAS STOCK MARKETS Dow Jones +0.3 pct, S&P 500 +0.1 pct, Nasdaq +0.1 pct at close. Nikkei -0.1 pct, Shanghai stocks -0.2 pct. Time: 4.54 GMT. GERMAN ECONOMIC DATA German flash GDP data due at 0600 GMT. Seen +0.4 pct q/q, +2.4 pct y/y seasonally adjusted. ZEW German sentiment index due at 0900 GMT. Economic Sentiment seen unchanged at -8.2 points, Current Conditions at 85.8 points vs 87.9. DIARIES REUTERS TOP NEWS ($1 = 0.8343 euros) (Reporting by Victoria Bryan and Maria Sheahan) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/germany-stocks-factors/german-stocks-factors-to-watch-on-may-15-idUSL5N1SL3H0

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VectoIQ Acquisition Corp. Closes $200 Million Initial Public Offering

NEW YORK, May 18, 2018 /PRNewswire/ -- VectoIQ Acquisition Corp. (the "Company") today announced that it closed its initial public offering of 20,000,000 units at a price of $10.00 per unit, resulting in gross proceeds of $200,000,000, before deducting underwriting discounts and commissions and other offering expense payable by the Company. The Company's units began trading on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "VTIQU" on May 16, 2018. Each unit consists of one share of the Company's common stock and one redeemable warrant. Each warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its common stock and warrants will be listed on Nasdaq under the symbols ''VTIQ'' and ''VTIQW,'' respectively. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus its search for a target business in the industrial technology, transportation and smart mobility industries. The proceeds of the offering will be used to fund such a business combination. Cowen and Chardan acted as the joint book running managers. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any. The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Cowen, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by telephone at 631-274-2806, or by fax at 631-254-7140; or Chardan, 17 State Street, Suite 1600, New York, NY, 10004, Attention: Prospectus Department, or by telephone at 646-465-9000, or by email at prospectus@chardan.com . This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds of the public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the U.S. Securities and Exchange Commission (the "SEC"). Copies of these documents are available on the SEC's website, www.sec.gov . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contacts: Danielle Belopotosky/Josh Clarkson, Gladstone Place Partners 212-230-5930 View original content: http://www.prnewswire.com/news-releases/vectoiq-acquisition-corp-closes-200-million-initial-public-offering-300651294.html SOURCE VectoIQ Acquisition Corp.

http://www.cnbc.com/2018/05/18/pr-newswire-vectoiq-acquisition-corp-closes-200-million-initial-public-offering.html

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NACCO Industries, Inc. Announces First Quarter 2018 Results

CLEVELAND, May 2, 2018 /PRNewswire/ -- Highlights: Consolidated income from continuing operations of $8.2 million in Q1 2018 comparable to Q1 2017 Q1 2018 earnings of unconsolidated operations increased 4% over Q1 2017 Q1 2018 income before income tax at North American Coal increased on lower interest expense NACCO Industries, Inc. (NYSE: NC) today announced first-quarter 2018 results. As a result of NACCO's spin-off of its housewares-related businesses in September 2017, the attached financial statements and related 2017 financial information in this news release have been reclassified to reflect the operating results of the housewares-related businesses as discontinued operations. For the first quarter of 2018, NACCO reported consolidated revenues of $31.2 million and consolidated income from continuing operations of $8.2 million, or $1.18 per diluted share, compared with consolidated revenues of $28.3 million and consolidated income from continuing operations of $8.2 million, or $1.20 per diluted share, of 2017. For the quarter ended March 31, 2018, NACCO's effective income tax rate was 9%. NACCO's consolidated Adjusted EBITDA from continuing operations of 2018 and the trailing twelve months ended March 31, 2018 was $12.9 million and $46.1 million, respectively. Adjusted EBITDA in this press release is provided solely as a supplemental non-GAAP disclosure of operating results as defined in the reconciliation of GAAP results to Adjusted EBITDA on page 7. NACCO ended the first quarter of 2018 with consolidated cash on hand of $83.4 million and debt of $50.8 million, resulting in a net cash position of $32.6 million. In February 2018, NACCO's Board of Directors authorized a stock buyback program to purchase up to $25 million of the Company's outstanding Class A common stock through December 31, 2019. The Company did not repurchase any shares during the first quarter of 2018. Detailed Discussion of Results North American Coal - First Quarter Results North American Coal's deliveries of 2018 and 2017 were as follows: 2018 2017 Tons of coal delivered (In millions) Unconsolidated operations 8.5 9.2 Consolidated operations 0.7 0.7 Total tons delivered 9.2 9.9 2018 2017 Cubic yards of limestone delivered (In millions) Unconsolidated operations 1.5 0.2 Consolidated operations 7.8 7.6 Total cubic yards delivered 9.3 7.8 North American Coal reported income before income tax of $10.9 million and revenues of $31.2 million in the first quarter of 2018, compared with income before income tax of $10.6 million and revenues of $28.3 million in the first quarter of 2017. North American Coal had operating profit of $11.3 million in both the first quarter of 2018 and first quarter of 2017. The first-quarter 2018 operating profit was comparable to 2017, as benefits from a $1.0 million reduction in the mine reclamation liability at Centennial Natural Resources and an increase in earnings at the unconsolidated operations were offset by higher operating expenses and a decrease in earnings at Mississippi Lignite Mining Company due to an increase in cost per ton delivered. The increase in earnings at the unconsolidated operations was mainly due to an increase in limestone deliveries at North American Mining's unconsolidated operations, higher compensation at Liberty Fuels during the mine reclamation period despite the customer's decision to cease deliveries in the second half of 2017 and moderately increased earnings at other unconsolidated operations. These improved earnings were partly offset by a decrease in results at Bisti due to fewer tons delivered. The increase in operating expenses was primarily the result of higher employee-related expenses, additional business development costs and an increase in professional fees. First-quarter 2018 income before income tax increased over the prior year first quarter primarily as a result of lower interest expense. NACCO & Other - First Quarter NACCO and Other, which includes the parent company operations and Bellaire Corporation, reported a loss from continuing operations before income taxes of $1.9 million in the first quarter of 2018 compared with a loss from continuing operations before income taxes of $1.8 million in the first quarter of 2017. Consolidated Outlook In 2018, NACCO expects consolidated income before income tax from continuing operations to decrease modestly compared with 2017 and expects an effective income tax rate in the range of 9% - 12%. The effective income tax rate is affected by items such as percentage depletion and the mix of earnings, including losses at entities with higher effective income tax rates. Income before income tax in 2017 included $5.1 million of gains on sales of assets, mostly realized at Centennial. Excluding these gains, NACCO expects 2018 income before income tax to increase compared with the prior year primarily as a result of lower operating expenses, improved income at the unconsolidated operations and reduced interest expense. These improvements are expected to be partially offset by an anticipated substantial decrease in royalty and other income and a decrease in income at Mississippi Lignite Mining Company. Royalties on oil, gas and coal extracted by third parties are subject to changes in market forces and the activities of third parties, making it difficult to forecast whether recent high levels of income will continue. Income from the unconsolidated operations is expected to be modestly higher in 2018 due in part to higher compensation at Liberty Fuels and increases at North American Mining's unconsolidated limestone operations as a result of new contracts signed in 2017 and increased customer demand. Bisti Fuels, one of North American Coal's unconsolidated operations, operates the Navajo Mine, which supplies coal to the Four Corners Generating Station. The owners of the Four Corners Generating Station are in the process of installing additional environmental controls at the plant. This installation limited the plant's ability to take coal deliveries in the first quarter of 2018 and is expected to continue to limit deliveries in the second quarter, resulting in a reduction in coal deliveries and income in the first half of 2018 compared with 2017. Despite the anticipated lower deliveries and earnings in the first half of the year, principally in the first quarter, Bisti's full-year 2018 income is expected to be comparable to 2017, as an anticipated increase in Bisti's income in the second half of 2018 is expected to offset the decrease in the first half of the year. Once installation of this equipment is complete, this plant should enjoy the benefits of an improved environmental profile. Production at Bisti Fuels is anticipated to be 5 million to 6 million tons of coal per year when the plant is operating at expected levels, which is currently anticipated to occur in 2019. On June 28, 2017, Southern Company and its subsidiary, Mississippi Power, suspended operations involving the coal gasifier portion of the Kemper County energy facility. Liberty Fuels, an unconsolidated operation, was the sole supplier of coal to fuel the gasifier under its contract with Mississippi Power. On February 8, 2018, Mississippi Power instructed Liberty Fuels to permanently cease all mining and delivery of lignite and to commence mine reclamation. The terms of the contract specify that Mississippi Power is responsible for all mine closure costs. Under the contract, Liberty Fuels is specified as the contractor to complete final mine closure and receives compensation for these services. The customer's decision to close the mine does not negatively impact the 2018 earnings outlook for Liberty Fuels, but it does unfavorably affect North American Coal's long-term earnings potential from this mine. At the consolidated operations, Mississippi Lignite Mining Company's pre-tax income in the first half of 2018 is expected to decrease substantially from the first half of 2017, primarily as a result of an increase in the cost per ton delivered. In general, cost per ton delivered is lowest when the power plant requires a consistently high level of coal deliveries, primarily because costs are spread over more tons. Historically, periods of reduced or fluctuating deliveries, such as during planned or unplanned power plant outages or periods of fluctuating demand for electricity generated by the plant, have adversely affected Mississippi Lignite Mining Company's tons delivered, resulting in an increase in cost per ton delivered and reduced profitability. Pre-tax income in the second half of 2018 is expected to increase compared with the second half of 2017, but is not expected to fully offset the decrease from the first half of 2018. As a result, Mississippi Lignite Mining Company's full-year income is expected to decrease in 2018 compared with 2017. Customer demand in the second half of 2018 is expected to return to higher levels due to reduced plant outage days. If customer demand remains low at Mississippi Lignite Mining Company, it could continue to unfavorably affect North American Coal's 2018 and future earnings significantly. Centennial's pre-tax loss in 2018 is expected to be comparable to its 2017 pre-tax loss excluding gains on sales of assets of $3.1 million. Centennial will continue to evaluate strategies to optimize cash flow, including the continued assessment of a range of strategies for its remaining Alabama mineral reserves, including holding reserves with substantial unmined coal tons for sale or contract mining when conditions permit. Cash expenditures related to mine reclamation will continue until reclamation is complete, or ownership of, or responsibility for, the remaining mines is transferred. Cash flow before financing activities is expected to decrease substantially in 2018 compared with 2017. Capital expenditures are expected to be up to $32 million in 2018, of which $2.4 million was expended in the first quarter. Planned expenditures at Mississippi Lignite Mining Company and North American Mining include expenditures for new and replacement equipment and land required for future mining. However, the timing of spending for some items could shift to later periods as capital expenditures can vary significantly in any given year based on the type of asset needed and its relative cost. While the current regulatory environment for development of new coal projects has improved, continued low natural gas prices and growth in renewable energy sources, such as solar and wind, could unfavorably affect the amount of electricity generation attributable to coal-fired power plants over the longer term. North American Coal continues to seek opportunities for new coal mining projects, although future opportunities are likely to be very limited. In addition, North American Coal continues to pursue additional non-coal mining opportunities, principally related to its North American Mining business and elsewhere where it might provide value-added services.

http://www.cnbc.com/2018/05/02/pr-newswire-nacco-industries-inc-announces-first-quarter-2018-results.html

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McorpCX, Inc. Reports First Quarter 2018 Financial and Operating Results

SAN FRANCISCO, May 9, 2018 /PRNewswire/ - Customer experience solutions and software company McorpCX, Inc. (TSXV: MCX, OTCQB: MCCX) ("McorpCX" or the "Company") today reported its financial results for the quarter ended March 31, 2018. "We are pleased that our clients see the value in our services, as our results for this quarter demonstrated our ability to add new projects for existing clients while adding new clients, allowing us to double year-over-year quarterly revenue. And while focused on increasing services revenue, we are keeping a focus on expense management as well." said Michael Hinshaw, McorpCX President and CEO. First Quarter 2018 Corporate Highlights: Revenue increased by 106% from $297,291 in the first quarter of 2017 to $613,854 in the first quarter of 2018. Gross profit increased by 101% to $316,439 in the first quarter of 2018 from $157,518 in the first quarter of 2017. The Company had a cash balance of $1,490,050 at March 31, 2018 compared to a cash balance of $1,616,076 at December 31, 2017. Gregg Budoi, the Company's Chief Financial Officer, stated: "While our investments in sales and marketing have helped improve consulting services performance, we are assessing ways to improve our existing products and services offerings, as well as exploring the potential of new technology platforms which may drive longer term, and deeper engagements with, our clients." For a complete discussion of the Company's financial condition and operating results, please see "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our audited and unaudited financial statements and the accompanying notes in our Form 10-Q for the three months ending March 31, 2018 and our Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission on EDGAR and with Canadian securities regulators on SEDAR. About McorpCX McorpCX ( http://mcorp.cx ) is a customer experience services company targeting the Global Customer Experience Management (CEM) market estimated by marketsandmarkets to grow from USD 5.06 Billion in 2016 to USD 13.18 Billion by 2021. Customers range from Fortune 100 brands to fast-moving mid-market leaders and other customer-centric companies. McorpCX is focused on pursuing value-enhancing growth opportunities for its shareholders. For more information, please contact: General Information: 1-866-526-2655 toll free in the U.S., or +1-415-526-2655 Investors: ir@mcorp.cx Website: http://mcorp.cx Twitter: @McorpCX ( https://twitter.com/mcorpcx ) Forward-Looking Statements Certain statements contained in this press release may constitute " " within the meaning of the United States securities laws and applicable Canadian securities legislation. These statements are, in effect, management's attempt to predict future events, and thus are subject to various risks and uncertainties. Readers should not place undue reliance on , which reflect management's views only as of the date hereof. All statements, other than statements of historical fact, regarding our financial position, business strategy and management's plans and objectives for future operations are . When used in this press release, the words "anticipate," "believe," "estimate," "expect," and "intend" and words or phrases of similar meaning, as they relate to the Company and its management are intended to help identify . Although we believe that management's expectations as reflected in are reasonable, we cannot assure readers that those expectations will prove to be correct. Forward-looking statements include statements relating to the Company's business and operations as well as the anticipated growth Global Customer Experience Management (CEM) market. Such statements involve assumptions relating to the Company's business, the ability of the Company to execute on its business plan, the competitive environment of the Company's products and services and the future development and pricing of the Company's products and services. Such involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results expressed or implied by these statements. Such factors include the following: general economic and business conditions, changes in demand for the Company's products and services, changes in the competitive environment and the introduction of competing software solutions by competitors, the Company's ability to complete any future required financing and the Company's dependence upon and availability of qualified personnel. In light of these and other uncertainties, the included in this press release should not be regarded as a representation by the Company that its plans and objectives will be achieved. These speak only as of the date of this press release, and the Company undertakes no obligation to update or revise the statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. View original content: http://www.prnewswire.com/news-releases/mcorpcx-inc-reports-first-quarter-2018-financial-and-operating-results-300645884.html SOURCE McorpCX, Inc.

http://www.cnbc.com/2018/05/09/pr-newswire-mcorpcx-inc-reports-first-quarter-2018-financial-and-operating-results.html

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Goldman C.E.O. Blankfein Is Likely to Step Down in December:

A new era at Goldman Sachs is taking shape. The Wall Street giant's president, David M. Solomon, is likely to be named chief executive officer by the end of this year, and he is already structuring his senior management team, according to people familiar with the firm's plans. The time frame for Mr. Solomon's ascension has evolved since he was named sole president of the firm in March, establishing him as the heir apparent to longtime Chief Executive Lloyd C. Blankfein, who is 63. But exactly when Mr. Solomon would take over from Mr. Blankfein, who colleagues say remains as engaged as ever in running Goldman, was not then clear. Mr. Blankfein said in an April television interview that his successor needed time to get better acquainted with parts of the company where he had never worked. Yet in recent weeks, Mr. Blankfein has quietly laid the groundwork to step down late this year. His exit will likely take place in conjunction with the firm's annual dinner for retired partners in December, two people said. Mr. Solomon, who is 56, would step in shortly after that. The timetable is not settled and could change, these people cautioned. Given what is likely to be a relatively short run-up to his promotion, Mr. Solomon is starting to sketch out the possibilities for a new management team, according to Goldman employees. One big question is who will succeed him as Goldman president, a role that is often shared by two executives. Contenders include John Waldron, the firm's co-head of investment banking; Eric S. Lane, who co-heads its investment management division; and Stephen M. Scherr, who runs the consumer banking division. "The simple fact is that no decisions have been made," said Jake Siewert, a Goldman spokesman. The expected leadership transition will mark the end of a prosperous but rocky era for the Wall Street firm. When Mr. Blankfein was named C.E.O. in 2006, he took over a wildly profitable investment bank known for both its seasoned deal advisers and its aggressive stock and bond trading. Buying and selling assets using its own money as well as clients' funds, Goldman made many billions of dollars in trading each year. Among its most lucrative wagers was that the United States housing market would suffer in 2007. That market cratered, almost bringing down the banking industry and the entire American economy. More from The New York Times: PayPal Agrees to $2.2 Billion Deal for European Payments Start-Up iZettle Shari Redstone and Leslie Moonves Have Starring Roles in a Corporate War Sanctions on Iran and Venezuela May Empower U.S. Rivals Mr. Blankfein, a onetime gold salesman known for his intellect and dry wit, steered Goldman through that tumultuous period, but not without the firm suffering huge damage to its reputation. It was pilloried by politicians for appearing to profit at the expense of clients, and became synonymous with Wall Street avarice. Since then, Goldman's business model has been hurt by tough federal regulations intended to curb risk-taking on Wall Street. The firm, once reliant on its high-flying traders, now has to look elsewhere for new revenue. Under Mr. Solomon, Goldman's investment banking business flourished, ranking among Wall Street's top firms for advising on corporate mergers and acquisitions. But that is a much less profitable business than trading had been before the crisis. And other Goldman divisions, such as investment management and consumer banking, remain too small to pick up the slack. Last year, Mr. Solomon and his co-president, Harvey M. Schwartz, presented Goldman's board of directors with a plan for generating billions of dollars in additional revenue. Their ideas, which were accepted by directors, included expanding the investment-banking business into midsize cities like Dallas and Seattle, enlarging Goldman's online-lending business and doing more trading of currencies and commodities on behalf of large corporations. Last week, in the latest foray into markets that the traditional Goldman never would have touched, the bank announced that it is working with Apple to develop a new credit card product . Mr. Solomon was informed in early March that Mr. Blankfein and the board had chosen him as the next C.E.O., say Goldman officials. Shortly after that, Mr. Schwartz, the other leading candidate for the top job, announced plans to retire. Since then, Mr. Solomon has been looking hard at the firm's troubled trading business. He is meeting with clients and Goldman employees around the world, often chatting about his hobby mixing electronic dance music as a D.J . And although the people regarded as his most likely lieutenants are all men, Mr. Solomon is pushing ahead with an ambitious plan to even out the gender imbalance at the male-dominated firm. As the Solomon era approaches, some members of Mr. Blankfein's inner circle are already leaving. Last week, two of the securities division's co-heads announced plans to retire . But aside from continuing the shift into more consumer-focused areas, it isn't clear whether Goldman under Mr. Solomon will look much different than under his predecessor.

https://www.cnbc.com/2018/05/18/goldman-c-e-o-blankfein-is-likely-to-step-down-in-december-new-york-times.html

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Kohl's earnings Q1 2018

Scott Mlyn | CNBC People approaching Kohl's department store in Mount Kisco, New York. Kohl's stock turned negative Tuesday after investors learned the timing of a promotional event helped boost sales in the latest quarter, but could steal momentum from the second half of the year. The retailer reported same-store sales growth of 3.6 percent for the first quarter, beating expectations of 2.7 percent. First-quarter earnings also topped expectations, helped by tighter controls on the goods it sells in its stores. On a call with analysts, Chief Financial Officer Bruce Besanko said the increase was driven by higher average transaction values, while the number of transactions was relatively flat for the quarter. Kohl's friends and family event before Mother's Day also helped boost comparable sales, Besanko said. The event also will help the second quarter, but could be a "headwind" in the third and fourth quarters, the company said. Shares of Kohl's slid about 5 percent in early trading after initially rising more than 5 percent in premarket trading. Here's how the company did compared with what Wall Street expected: Earnings: 64 cents per share vs. 50 cents per share forecast by Thomson Reuters Revenue: $4.21 billion vs. $3.95 billion forecast by Thomson Reuters Same-store sales growth: 3.6 percent vs. 2.7 percent forecast by Thomson Reuters The retailer last year began a partnership with Amazon to sell the online retailer's smart home products and accept its returns. Kohl's also announced a partnership with discount grocer Aldi to lease the vacant space left behind by its downsized stores. It plans more such partnerships down the road. Unlike other department stores, Kohl's has benefited from having its stores located away from malls, where the number of shoppers is declining. Meantime, Kohl's efforts to more efficiently order and stock the goods in its stores also continue to pay off. Two years ago, Kohl's launched a five-year plan to improve its inventory management, in aims of minimizing the costs of discounts and unbought goods. "We exceeded the high end of our margin expectations through continued focus on inventory management," Gass said. Kohl's for the quarter reported net income of $75 million, or 45 cents a share, higher than the $66 million, or 39 cents a share, it reported a year ago. Excluding $500 million in debt Kohl's paid down the past quarter, the company earned $107 million, or 64 cents a share, marking a 62 percent jump over the same quarter a year prior. Sales rose 3.5 percent to $4.21 billion over the same quarter a year prior. That was higher than the $3.95 billion, analysts were expecting. Kohl's raised its earnings forecast for the year, and now expects earnings of $5.05 to $5.50 per share, compared with previous expectations of $4.95 to $5.45 per share. Including the impact of debt payment, to earn between $4.86 and $5.31 per share a year ago. Lauren Hirsch Retail Reporter for CNBC.com Related Securities

https://www.cnbc.com/2018/05/22/kohls-earnings-q1-2018.html

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Trump doctor Harold Bornstein says White House aide took files

President Donald Trump 's former longtime doctor says he felt "raped, frightened and sad" after a top White House aide conducted a "raid" on his New York City medical offices and took the president's health records last year, according to a new report. Dr. Harold Bornstein told NBC News that the "raid" by Trump's longtime personal bodyguard Keith Schiller and another "large man" came on Feb. 3, 2017, and that they were joined by the Trump Organization's chief legal officer, Alan Garten. That was just two days after Bornstein, who had been Trump's doctor since 1980, told The New York Times that he had prescribed the president the hair-growth medicine Propecia for years. Bornstein said Schiller, who at the time was director of Oval Office operations at the White House, and his team did not give him a form signed by Trump that would have authorized the release of the records they took, "which is a violation of patient privacy law," NBC News noted. show chapters Trump's doctor says he aced his mental fitness test. Here's how hard it really was. 11:21 PM ET Tue, 16 Jan 2018 | 01:10 Bornstein also said the men asked him to take down a photograph on the office wall that showed Trump and the doctor together. In that photo, Trump is giving his signature "thumbs-up" gesture. The doctor also was Quote: d as saying that Trump cut ties with him after the Times story. "I couldn't believe anybody was making a big deal out of a drug to grow his hair that seemed to be so important," Bornstein said. "And it certainly was not a breach of medical trust to tell somebody they take Propecia to grow their hair. What's the matter with that?" Bornstein gained notoriety in 2016 when he wrote a letter claiming that, if elected , Trump would be the healthiest American president ever, calling Trump's health "astonishingly excellent." Bornstein was not available for comment when CNBC called his office. White House spokeswoman Sarah Huckabee Sanders, when asked about Bornstein account on Tuesday, said, "It would be standard procedure for the president, a newly elected president's medical records, to be in possession by the White House medical unit." "And that's what was taking place," Sanders said at a press briefing. "Those records were being transferred to the medical unit, as requested." Schiller left the White House last fall. After that, CNBC reported in February that his private security firm had been collecting $15,000 per month for services provided to the Republican National Committee. WATCH: Trump's fight against 'fake news' has been a boon for media companies show chapters Trump's fight against 'fake news' has been a boon for media companies 11:50 AM ET Tue, 24 April 2018 | 01:49

https://www.cnbc.com/2018/05/01/trump-doctor-harold-bornstein-says-white-house-aide-took-files.html

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UPDATE 5-Kroger inks Ocado grocery delivery deal to battle Amazon threat

* Leading U.S. supermarket to use Ocado's technology * Will order at least 20 new customer fulfilment centres * Deal bigger than all previous Ocado deals combined * Kroger will take a 5 pct stake in Ocado * Ocado's shares leap as much as 80 pct to record (Adds details, analyst comment, background) LONDON/LOS ANGELES, May 17 (Reuters) - U.S. supermarket chain Kroger Co struck a deal with British online grocer Ocado to build and deliver from robot-staffed warehouses, upping the ante in Kroger's battle with Amazon.com Inc and sending Ocado shares rocketing. The U.S. grocery industry is dominated by Walmart Inc and Kroger but has been in upheaval since last summer, when Amazon's $13.7 billion purchase of Whole Foods sent supermarkets scrambling to match the online retailer on home delivery. The Kroger deal announced on Thursday was Ocado's first in the United States and the British company's fourth major agreement with retailers in six months. Ocado shares soared as much as 80 percent to an all-time high. Kroger shares were last up 1.6 percent on the deal, with investors reassured by the U.S. company saying the move would not dampen expected earnings for 2018 and 2019. Kroger Chief Executive Rodney McMullen in a statement called the partnership "transformative" and said it was a step toward the company's goal of giving customers anything, anytime, anywhere. U.S. supermarkets fear Amazon could apply its distribution know-how to Whole Foods, quickly turning the existing stores into a grocery delivery network. "The most critical consequence of today's news is the need for other major U.S. players to react," said Jefferies analyst James Grzinic. "The risk is that today's news will accelerate that shift, and on less rational terms." Britain was one of the first countries to see widespread adoption of online grocery shopping, giving its retailers a head start in developing technology to deal with the challenges of delivering food, especially fresh and frozen goods. E-commerce already accounts for 7.5 percent of sales of packaged consumer goods in Britain, compared to 1.5 percent in the United States, according to data firm Kantar World Panel, which predicts the latter will rise to 8 percent by 2025. Ocado's software and hardware automates the processing and packing of online groceries, using hundreds of robots rather than people to pull together orders quickly. Some analysts and grocers have questioned how well the Ocado model is suited to the U.S. market given its much more disperse population compared to densely populated Britain. Outside urban areas, they say that it makes more sense to focus on using human workers to pick groceries from existing stores rather than building expensive high-tech warehouses, or to offer curbside pickup for orders, a service available at Walmart and Kroger. Whole Foods did not immediately respond to requests for comment on the deal. TRANSFORMING THE INDUSTRY Ocado's Chief Financial Officer Duncan Tatton-Brown said the new partnership would end the company's discussions with other U.S.-based retailers. "The opportunity for a business like Kroger is huge," he said. "They are ambitious, they are capable and together we hope they can transform their industry." The deal is a setback for Ahold Delhaize, owner of U.S. chains Food Lion, Stop & Shop and Giant, which some analysts had considered a candidate to merge with Kroger to give the retailer access to Ahold's U.S. online grocery delivery service Peapod. Shares in Ahold fell 1.8 percent. The partnership also raises questions about the fate of third-party delivery company Instacart, which delivers from Kroger stores in 45 metropolitan markets and counts it as a major customer. If the Ocado partnership gives Kroger the confidence to bring delivery in-house, "that will be disastrous for Instacart," said Neil Saunders, managing director of GlobalData Retail. Kroger had previously been experimenting with building in-house delivery and had also partnered with Target Corp-owned Shipt. Kroger, which already held a 1 percent stake in Ocado, will buy new shares equivalent to 5 percent valued at 183 million pounds ($247.5 million), Ocado said. Shares in Ocado, which listed in 2010, hit a record of 1,000 pence. They pared gains to trade up 46 percent at 805 pence at 1402 GMT, valuing the group that delivered its first annual profit in 2014 at 5.5 billion pounds. TWENTY SITES Kroger will identify at least 20 sites to build new, automated warehouse facilities in the United States, Tatton-Brown said, exceeding all of the centres Ocado has built or is planning to build for all other partnerships. The two companies are working to identify the first three sites in 2018. Tatton-Brown said the potential for the partnership goes far beyond the initial 20 centres, with scope for two or three times that in the future. Cincinnati, Ohio-based Kroger, which has roughly 2,800 stores in 34 mainly Midwest and southern states, in March said it provided delivery from more than 872 stores. It also said it planned to offer curbside pickup from roughly 1,600 stores this year. HEDGE FUNDS BURNT Founded in 2000 by three former Goldman Sach's bankers, Ocado has licensed its platform to grocers operating in markets including ICA in Sweden, Sobeys in Canada and Casino in France. Co-founder and chief executive Tim Steiner saw the value of his stake in the firm rise more than 100 million pounds on Thursday to about 240 million pounds, according to Thomson Reuters data. The detailed financial terms have yet to be agreed, but Kroger could bring forward some of its payments under the deal, which would reduce Ocado's need for capital. If the retailer fails to hit volume targets it could also lose exclusivity and will have to pay compensation to Ocado. Before Thursday's deal, Ocado's stock was trading on a heady multiple of 2,250 times its current earnings. The average multiple for the UK grocery retail sector is 17. The surprise deal and jump in the share price caught out many hedge funds betting the next move would be down. Shorting of the stock, where shares are borrowed and sold in the hope of buying them back later at a cheaper price to make a profit, was at a five-month high prior to the announcement. More than 56 million Ocado shares were on loan on Tuesday, the most recent data from industry tracker FIS' Astec Analytics showed. Exposed hedge funds included GMT Capital, Hunt Lane Capital and London-based Marshall Wace. ($1 = 0.7393 pounds) (Additional reporting by Maiya Keidan and Emma Thomasson; editing by Kate Holton and Elaine Hardcastle)

https://www.cnbc.com/2018/05/17/reuters-america-update-5-kroger-inks-ocado-grocery-delivery-deal-to-battle-amazon-threat.html

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Apple and Buffett saw value, and acted

SAN FRANCISCO, May 6 (Reuters) - Apple Inc was not the only one to leap on a chance to buy its stock at a fat discount last quarter as Warren Buffett stepped in to scoop up an additional 75 million shares for Berkshire Hathaway at the same time. Between them - the two biggest players in the iPhone maker's shares - they bought nearly one of every 10 Apple shares traded during the quarter, according to Thomson Reuters calculations. But the discount window did not stay open long, with Apple's stock back at a record high above $183 on Friday after trading in the mid-$150s for part of the first quarter. The recovery in the share prices makes it less opportune for Apple's corporate treasury to execute purchases as it proceeds with an additional $100 billion of buybacks in an effort to further winnow down its mountain of cash. Apple bought more than $23 billion of its own shares in the first three months of the year at an average price of $171.48, the company said this week. A Buffett representative on Friday confirmed Berkshire Hathaway increased its stake in Apple by 75 million shares, for which the company looks to have paid between $12 billion and $13 billion, based on the stock's trading range during the period. Funds from the repatriation of Apple's $252 billion overseas cash hoard arrived at an convenient time for traders working on behalf of Apple. The Cupertino, California, company's massive share purchase in the March quarter coincided with a 10 percent slump in the S&P 500 between Jan 26 and Feb 8. That drop raised fears across Wall Street that a nine-year bull market was ending and made it easier for big players amassing shares in a company to find willing sellers. Apple shares fell even more than the broader market, tumbling over 13 percent from their record high close. But while the S&P 500 has remained in correction territory, Apple shares quickly recovered, and it seems the company and Berkshire were there to help. Buffett, a billionaire bargain hunter, increased his company's stake to 240.3 million shares worth $42.5 billion during first quarter. At its low in February, the stock was available for as little as $150, an 18 percent discount to its current price. On more than a third of the trading days during the March quarter, Apple's stock traded below its volume weighted average price, or VWAP, for the prior 60 days. On Feb 8, when it closed at $155.15, the low for the quarter, it was at a nearly 10 percent discount from its 60-day average VWAP. The stock had not been available at such a large discount to its prevailing average since May 2016, which happens to be when Buffett bought his first-ever shares of Apple. At its close of $183.83 on Friday, however, Apple now stands at a premium of nearly 7 percent to its 60-day VWAP of $172.11. Prior to last quarter, Apple's largest-ever quarterly repurchase occurred in early 2014, a year after it initiated its first $210 billion buyback program. The stock traded at a discount to its 60-day VWAP through much of the quarter, and Apple spent $18 billion to buy up its own shares, according to filings. (Reporting by Noel Randewich Editing by Dan Burns and Cynthia Osterman)

https://www.cnbc.com/2018/05/06/reuters-america-apple-and-buffett-saw-value-and-acted.html

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Trump says he doubts China trade negotiations will succeed

2 Hours Ago | 03:39 President Donald Trump said Thursday that he doubts high-stakes trade negotiations with China will succeed. "Will that be successful? I tend to doubt it," the president told reporters during an appearance with NATO Secretary-General Jens Stoltenberg. "The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled. Other countries have become very spoiled, because they always got 100 percent of whatever they wanted from the United States." "But we can't allow that to happen anymore," Trump added. A Chinese delegation is currently in Washington taking part in talks with top Trump administration officials. The meetings follow a separate round of negotiations in Beijing earlier in the month. The U.S. and China hope to bring down escalating tensions that threaten to start a trade war and damage the world's two largest economies. U.S. stock markets dipped after Trump's comments Thursday, as traders and investors hope talks will avoid major tariffs proposed by both countries. Qilai Shen | Bloomberg | Getty Images U.S. President Donald Trump, left, and Xi Jinping, China's president, shake hands during a news conference at the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. On Thursday, the president contended China "ripped off" the U.S. with its trade practices. He claimed Beijing's trade tactics sparked "an evacuation of wealth like nobody has ever seen before." The president has long argued that China's massive trade surplus with the U.S. constitutes a trade abuse. He has also sought to punish Beijing for alleged intellectual property theft by Chinese companies. Earlier this year, Trump proposed tariffs on $50 billion worth of Chinese goods such as electronics and machinery in response to alleged intellectual property abuses. He floated an additional $100 billion in tariffs on other Chinese goods. China proposed retaliatory tariffs on a variety of U.S. goods such as crops and aircraft. The possible Chinese measures sparked concerns about damage to the U.S. agricultural industry. Tensions within the Trump administration have threatened to complicate this week's talks. Peter Navarro, Trump's trade advisor and a China hawk, and Treasury Secretary Steven Mnuchin have bumped heads recently . Navarro has sought a tough response to China, which has led him to disagree with some colleagues in the Trump administration. Both sides have sought concessions during the trade talks. Washington and Beijing have reportedly discussed China dropping tariffs on U.S. agricultural products in exchange for the U.S. lifting a ban on American companies selling to Chinese telecommunications company ZTE. The ban came in response to the company's shipping of American goods to Iran and North Korea in violation of sanctions. It effectively crippled ZTE. On Thursday, Trump said Chinese President Xi Jinping "asked me if I would take a look at" helping ZTE. "I certainly said I would," Trump said. On Wednesday, Trump contended his decision to ask his Commerce Department to find a way to aid ZTE did not constitute "folding" to China's suggestions. He tweeted that "we have not seen China's demands yet." Chinese Vice Premier Liu He, Xi's top economic advisor, told U.S. lawmakers Wednesday that he planned to work hard to address the countries' trade imbalance and other trade issues. show chapters

https://www.cnbc.com/2018/05/17/trump-says-he-doubts-china-trade-negotiations-will-succeed.html

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Asia markets: US-China trade, stocks, currencies and oil in focus

Asian markets closed moderately higher on Monday, with weekend developments in U.S.-China talks, regarded as positive by analysts on the whole, in the spotlight. Japan's Nikkei 225 edged up by 0.31 percent, or 72.01 points, to 23,002.37, crossing the 23,000 mark for the first time since February as the dollar firmed against the yen. The Topix dipped in and out of negative territory before finishing lower by 0.08 percent, with declines seen in insurers and steelmakers while machinery sector stocks climbed. Over in South Korea, the Kospi reversed early losses, advancing 0.2 percent to close at 2,465.57. Greater China markets got a lift following positive trade developments at the weekend. Hong Kong's Hang Seng Index advanced 0.68 percent by 3:22 p.m. HK/SIN, but was below its intraday high. Utilities and industrials led the climb ahead of the market close. Symbol Name Price Change %Change NIKKEI --- HSI --- ASX 200 --- SHANGHAI --- KOSPI --- CNBC 100 --- On the mainland, the Shanghai composite edged up by 0.66 percent to 3,214.36 and the Shenzhen composite added 1.05 percent to end at 1,848.06. Logistics firms were given a boost as U.S.-China trade concerns abated, with Cosco Shipping Holding s jumping 7.39 percent. Stocks Down Under bucked the trend, with the S&P/ASX 200 slipping 0.05 percent to close at 6,084.50 as materials and financials weighed. On the whole, MSCI's index of shares in Asia Pacific excluding Japan edged higher by 0.1 percent in Asia afternoon trade. U.S. puts 'trade war on hold' Developments in the U.S.-China trade relationship were digested by investors as markets opened for trade this week. In particular, immediate fears of a trade war were likely put to rest after U.S. Secretary Steven Mnuchin said Sunday that the countries were "putting the trade war on hold" as they worked out an agreement. Both countries said they had agreed to "substantially reduce" the U.S. trade deficit with China in a joint statement on Saturday. According to the statement, China would significantly increase its purchases of U.S. goods and services, although it remained unclear how much that would amount to. "Overall, markets should view this positively at the open this week, but will continue to be attentive to further developments," ANZ analysts said in a morning note. Although Mnuchin's pronouncement was an incremental positive, there were also other moving parts at play in markets, said Jonathan Garner, chief Asia and emerging markets equity strategist at Morgan Stanley. Higher oil prices were "negative for most of Asia, which is a large oil importer ... We also have a situation where monetary policy continues to tighten in the U.S. and China simultaneously, and that's an issue that's certainly causing pressure on valuations, particularly in equities," Garner told CNBC's "Squawk Box." U.S. stock index futures, meanwhile, were higher on Monday following Mnuchin's comments, with the implied open for the Dow Jones industrial average more than 200 points higher during Asia morning trade. S&P 500 and Nasdaq futures also pointed to gains. Stock indexes stateside had closed mostly lower on Friday as investors digested trade-related headlines ahead of the joint statement issued at the weekend. The declines also came as U.S. Treasury yields rose to multiyear highs last week. On Monday, the yield on the benchmark 10-year U.S. Treasury note edged up to 3.07 percent after easing slightly in the Friday session. The 10-year yield had surpassed 3.1 percent for the first time in around seven years last week. The dollar index , which tracks the U.S. currency against its peers, stood at 94.021, compared to levels around the 93.7 handle seen on Friday. Against the yen, the greenback traded at 111.30 at 3:17 p.m. HK/SIN as U.S.-China trade tensions were seen to have abated slightly. In individual movers, shares of LG Electronics closed higher by 0.71 percent following news on Sunday that the chairman of LG Group, Koo Bon-moo, had passed away . Koo's son is expected to be nominated to the company's board as part of succession plans, Reuters said. Other LG affiliates traded lower, with LG Display declining 1.1 percent and LG Chem down 1.6 percent.

https://www.cnbc.com/2018/05/20/asia-markets-us-china-trade-stocks-currencies-and-oil-in-focus.html

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GRAINS-Corn, soybeans sag on renewed U.S.-China trade tension

(Updates with closing CBOT prices, USDA crop progress figures) By Julie Ingwersen CHICAGO, May 29 (Reuters) - U.S. corn futures fell about 1.5 percent on Tuesday, with the front contract at times dropping below $4 a bushel as U.S. trade tensions with China re-emerged, analysts said. Wheat turned lower after climbing to multi-month highs, and soybeans also slipped. Chicago Board of Trade July corn settled down 6 cents at $4.00 per bushel after dipping to $3.97-1/2, its lowest since May 18. July wheat ended down 6-1/2 cents at $5.36-1/2 a bushel and July soybeans fell 11 cents at $10.30-1/2 a bushel. Corn tumbled after the United States said it will continue pursuing action on trade with China, days after Washington and Beijing announced a tentative solution to their dispute and suggested that tensions had cooled. China is the world's biggest soybean importer and the top buyer of U.S. sorghum, a feed grain that competes with corn. The news appeared to trigger long liquidation in corn and soybeans, markets in which commodity funds hold net long positions. A stronger dollar added to the negative tone, making U.S. grains less competitive on the world market. "The dollar strength is a real anchor for all the trade. Then you get kicked with the China trade headlines," said Don Roose, president of Iowa-based U.S. Commodities. Also, traders believe the U.S. corn crop is off to a good start, overcoming early planting delays in April. After the CBOT close, the U.S. Department of Agriculture rated 79 percent of the U.S. corn crop as good to excellent, topping a range of analyst expectations and the year-ago rating of 65 percent. Wheat futures followed corn and soy lower, retreating after the CBOT July contract hit a 10-month high on concerns about dry weather in Russia and elsewhere. Forecasts for beneficial rains in the northern U.S. Plains spring wheat belt and possibly Canada added pressure. Soybeans declined but drew underlying support from transport problems in Brazil, where a truckers' strike has been slow to unwind, even after the government agreed to subsidize diesel prices in a bid to end protests. Soybean exporters are considering declaring force majeure on shipments, a contractual clause that releases them from obligations because of events beyond their control, according to Anec, a trade group representing grains exporters such as Archer Daniels Midland Co and Louis Dreyfus Co. "If it were not for the Brazilian strike woes going on, beans could be much lower than they are," Futures International analyst Terry Reilly said. CBOT settlement prices: Last Net Pct Volume change change CBOT wheat WN8 536.50 -6.50 -1.2 132759 CBOT corn CN8 400.00 -6.00 -1.5 223187 CBOT soybeans SN8 1030.50 -11.00 -1.1 108111 CBOT soymeal SMN8 380.20 -0.10 0.0 55257 CBOT soyoil BON8 31.21 -0.13 -0.4 44117 NOTE: CBOT July wheat, corn and soybeans shown in cents per bushel, soymeal in dollars per short ton and soyoil in cents per lb. (Additional reporting by Michael Hogan in Hamburg and Colin Packham in Sydney; editing by Chizu Nomiyama and James Dalgleish)

https://www.reuters.com/article/global-grains/grains-corn-soybeans-sag-on-renewed-u-s-china-trade-tension-idUSL2N1T01VZ

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Crowd gathers at Malaysia airport after ousted PM announces "short break"

KUALA LUMPUR, May 12 (Reuters) - Dozens of people gathered at a small airport just outside Kuala Lumpur on Saturday after reports that ousted Malaysian Prime Minister Najib Razak was scheduled to fly from there to Jakarta with his wife. The drama came after the scandal-plagued former premier, whose ruling coalition was ousted in a general election this week, said in a Twitter message earlier on Saturday that he planned to take a short break with his family. Two sources told Reuters on Friday that new Prime Minister Mahathir Mohamad planned to reopen investigations into a massive graft scandal that had plagued Najib since 2015. The crowd at the airport tried to block cars entering the Sultan Abdul Aziz Shah Airport near the Malaysian capital, but were held back by guards. Riot police were posted, but there was no violence. Nearly 30,000 people were watching the event on Facebook Live, until the feed was interrupted. There was no sign that Najib or his wife, Rosmah Mansor, were at the airport. Mahathir, sworn in as prime minister on Thursday, has vowed to investigate a multi-billion-dollar graft scandal at state fund 1Malaysia Development Berhad (1MDB), which was founded by Najib. Najib has consistently denied any wrongdoing in connection with 1MDB. (Writing by Raju Gopalakrishnan Editing by John Chalmers)

https://www.reuters.com/article/malaysia-politics-airport/crowd-gathers-at-malaysia-airport-after-ousted-pm-announces-short-break-idUSL3N1SJ01G

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Morgan Stanley says we're in a bear market but investors just don't realize it yet

Venture Capital Morgan Stanley says we're in a bear market but investors just don't realize it yet "I think we're in a rolling bear market," said Mike Wilson, Morgan Stanley's chief U.S. equity strategist. "It's fooling everybody at the index level, but there's a lot of pain out there." The strategist's comment came as the S&P 500 fell 0.3 percent and the Dow Jones industrial average slipped nearly 1.2 percent. The most bearish strategist tracked by CNBC, Wilson has consistently forecasted that the S&P 500 will finish the year at 2,750, implying less than 1 percent upside for the rest of the year. CNBC.com Getty Images Morgan Stanley's chief U.S. equity strategist believes the stock market is in the midst of a cyclical bear market that could last through the end of next year. "I think we're in a rolling bear market. Every sector has gone down at least 11 or 12 percent at least once this year. Some were down 18, 19, 20 percent," Mike Wilson, Morgan Stanley's chief U.S. equity strategist, said on CNBC's " Halftime Report " on Thursday. "It's fooling everybody at the index level, but there's a lot of pain out there: Staples, homebuilders, some of these semiconductor stocks that are more cyclical are having problems." The strategist's comment came as the major market indexes added to their weekly losses, with the S&P 500 down 0.3 percent and the Dow Jones industrial average down nearly 1.2 percent since Tuesday. Markets were closed Monday for the Memorial Day holiday. But while stocks were poised for a positive return for the month of May, volatility has plagued markets since the beginning of the year, with the Dow and S&P 500 both falling more than 10 percent from their highs at one point. In turn, the bumpy trading has signaled to many market gurus that aged bull market could finally be taking a breather. While stocks remain above their lows notched earlier this year, Wilson explained his definition of a bear market varies from traditional Wall Street wisdom. "A bear market to me doesn't [necessarily] mean the market has to go down 20 percent," he said. "A bear market is a tougher environment, it's hard to make money. Volatility is a lot higher, so I don't care what kind of portfolio you're running, you can't run as much risk anymore, you just can't do it." The most bearish strategist tracked by CNBC , Wilson has consistently forecasted that the S&P 500 will finish the year at 2,750, implying less than 1 percent upside for the broad market index over the remaining seven months. But the sluggish returns aren't likely to abate anytime soon, Wilson warned, telling CNBC that the cyclical bear market "could last through the end of 2019." Many of Wilson's comments Thursday echoed Morgan Stanley analysis earlier this month, when the bank told clients in a note that the "end of easy" investing was over. "We think it's pretty obvious that the market had discounted the news on tax cuts, global growth and still supportive financial conditions," Wilson wrote. "In many ways a correction or consolidation was overdue and makes perfect sense. The question is whether or not this turns into something more sinister." Chief among Morgan Stanley worries have been a return of inflation, uncertain political outlook and tightening monetary policy, the lack of which helped fuel the unprecedented run in the U.S. stock market over the past nine years. The firm lowered its global equity allocation from overweight to equal weight in the note.

https://www.cnbc.com/2018/05/31/morgan-stanley-says-were-in-a-bear-market-but-investors-just-dont-realize-it-yet.html

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Gold prices crawl up as dollar pauses rally

Gold slipped slightly on Monday, snapping three days of gains as the U.S. dollar index strengthened after last week's soft U.S. jobs data did little to dampen optimism about the world's largest economy. That left traders betting the U.S. Federal Reserve would proceed with lifting interest rates this year. Higher rates typically weigh on gold, as they increase the opportunity cost of holding non-yielding assets such as bullion. "The dollar in the immediate term is overbought and gold is oversold today. (Gold) needs to recapture $1,322 to increase," said John Caruso, senior commodity strategist at RJO Futures. Spot gold was down 0.1 percent at $1,313.70 an ounce at 3:25 p.m. ET. U.S. gold futures for June delivery settled down $0.60 at $1,314.10. The market was thinned by a national holiday in Britain, which closed trading desks in London. "The dollar's strength, driven by a less hawkish European Central Bank and a disparity in bond yields (between the United States and Europe), has kept gold lower today," said TD Securities head of commodity strategy Bart Melek. Investors were therefore tempering bets on higher gold prices, said Commerzbank analyst Carsten Fritsch, with speculators cutting their net long positions on Comex gold contracts to the lowest since July 2017 with a "massive reduction" in the last few trading weeks. "Most speculative investors have thrown in the towel already," he said. Government bond yields in the euro area rose in late Monday trading after the European Central Bank's chief economist, Peter Praet, said an earlier unexpected drop in euro zone core inflation may be a one-off.Initially dropping, bond yields in the single currency bloc rose after his remarks. The U.S. dollar index hit a 2018 peak against a commodity basket after U.S. jobs and wages data did little to alter perceptions of strength in the U.S. economy and consequently expectations for more Fed rate hikes. Meanwhile, silver lost 0.1 percent to $16.47. Palladium was up 0.25 percent at $969.50, earlier hitting its highest level since April 27 at $980. Platinum gained 0.4 percent to $909.50, having earlier hit its highest price since April 25 at $918.70. Friday's positioning data from the CFTC suggests the metal may be due for a bounce, analysts said "With prices near the bottom of the recent one-year range, platinum is now in the oversold box," Societe Generale said in a note.

https://www.cnbc.com/2018/05/06/gold-prices-crawl-up-as-dollar-pauses-rally.html

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UK Stocks-Factors to watch on May 10

May 10 (Reuters) - Britain's FTSE 100 index is seen adding 0.2 percent on Thursday, according to financial bookmakers. * Rolls-Royce Holdings Plc's Chief Operating Officer Simon Kirby will leave the company in June as the British manufacturer looks to streamline its business. * Royal Bank of Scotland Group Plc said on Wednesday it had agreed to pay $4.9 billion to resolve a U.S. Department of Justice probe into its structuring and sale of mortgage-backed securities ahead of the 2008 financial crisis. * Gold prices steadied on Thursday as the dollar held firm near its 2018 peak on strong U.S. bond yields, with investors also keeping an eye out for any further impact from U.S. President Donald Trump's decision to pull out of a nuclear deal with Iran. * Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. * EX-DIVS: Admiral Group, BP, Centrica, GlaxoSmithKline, Royal Dutch Shell, Sage Group will trade without entitlement to their latest dividend pay-out on Thursday, trimming 22.9 points off the FTSE 100 according to Reuters calculations * The UK blue chip index closed 1.3 percent higher at 7662.52 on Wednesday, driven up by oil stocks, which rose after the U.S. decision to pull out of the Iran nuclear deal sent crude prices soaring. * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets * UK CORPORATE DIARY: Superdry PLC Full Year 2018 Trading Update WM Morrison Supermarkets Q1 2019 Trading Update Barratt Developments Trading Update Derwent London PLC Q1 2018 Business Update TP ICAP PLC Trading Update BT Group PLC Q4 2018 Trading Update RSA Insurance Group Q1 2018 Trading Update Next PLC Q1 2018 Trading Update ITV PLC Q1 2018 Trading Update Vesuvius PLC Q1 2018 Trading Update TODAY'S UK PAPERS > Financial Times > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Sangameswaran S in Bengaluru)

https://www.reuters.com/article/britain-stocks-factors/uk-stocks-factors-to-watch-on-may-10-idUSL3N1SH2O1

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GrowGeneration Hires Senior Commercial Expert Yoshi Sakashita to Lead its Commercial Division

DENVER, May 21, 2018 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, announced today that it hired Yoshi Sakashita to the position of Vice-President of GrowGen Management Corp. GrowGen Mgt. is focused exclusively on providing product driven solutions, that lower costs and increases the efficiencies for large commercial cultivation operations. From 2012-2017, Yoshi Sakashita was the Technical Lighting Expert for Gavita International, the leading indoor lighting solution for cannabis cultivators and most recently at Hawthorne Gardening, a division of Scotts Miracle-Gro, who acquired Gavita International in 2017. Prior to Gavita, he was with Bio Floral and Method 7, providing solutions and problem solving for many commercial growers. GrowGen CEO Comments Darren Lampert, Co-Founder and CEO, said, "The hiring of Yoshi, as our VP of GrowGen Management Corp. further solidifies the management team of GrowGen. Yoshi's years of experience in working with large commercial facilities, in both the US and around the globe, gives us a proven leader in the commercial cultivation space. Our commercial division is investing in new technologies and products that bring automation and efficacies, that will lower the grower's costs and deliver an overall better yielding and tasting product. We are extremely excited to have Yoshi on our team. " Yoshi Sakashita Comments Yoshi Sakashita said, "The opportunity to work with a growth company, with the vision and mission to develop the first national chain of hydroponic stores and the ability to deliver efficiencies, technology and provide solutions to the end users, drove my decision to accept the position of VP of GrowGen Management Corp. My passion is to help facilities, by bringing efficiencies, technology and techniques, used in traditional horticulture and bring it to the cannabis world will be key to the long-term success and profitability of cannabis cultivation businesses. My expertise is creating these solutions to solve cultivation problems, so they can operate most efficiently. I am truly excited about being part of the GrowGen management team." About GrowGeneration Corp. : GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 17 stores, which includes 6 locations in Colorado, 4 locations in California, 3 locations in Michigan, 2 locations in Nevada, 1 location in Rhode Island and 1 location in Washington. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. According to New Frontier Data, by 2020 the cannabis market is estimated to reach over $23 billion with a compound annual growth rate of 32%. Forward Looking Statements: This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com . Connect: Website: www.GrowGeneration.com Facebook:GrowGenerationCorp Twitter: @GrowGenOK Instagram: Growgeneration_corp View original content with multimedia: http://www.prnewswire.com/news-releases/growgeneration-hires-senior-commercial-expert-yoshi-sakashita-to-lead-its-commercial-division-300651410.html SOURCE GrowGeneration

http://www.cnbc.com/2018/05/21/pr-newswire-growgeneration-hires-senior-commercial-expert-yoshi-sakashita-to-lead-its-commercial-division.html

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UPDATE 3-Powered by subscriptions, Pandora Media losses beat estimates

(Adds closing date to buy AdsWizz) May 3 (Reuters) - Despite intensifying competition from larger rivals, Pandora Media Inc reported a smaller-than-expected quarterly loss on Thursday as the music streaming service provider benefited from higher subscription revenue and smaller declines in its advertising business than feared. Shares of the Oakland, California-based company rose 7.8 percent to $6.21 after the bell. The company said total subscription and other revenue surged 61.3 percent to $104.7 million, slightly above analysts' estimate of $104.6 million, according to Thomson Reuters I/B/E/S. Pandora's advertising revenue fell 3.9 percent to $214.6 million, but topped analysts' estimate of $198.7 million. The company faces stiff competition from deep-pocketed music streaming rivals such as Apple Inc's Apple Music and Sweden's Spotify Technology SA, whose results on Wednesday failed to enthuse investors. Those newer services have plucked away many former Pandora listeners, but the Oakland company has started courting them to come back with new offerings such as its "Premium Access" feature, which lets users try out its ad-free, on-demand service after watching a video ad. "The recapture of our prior listeners is a very, very important factor for us," Chief Executive Roger Lynch told Reuters in an interview. "March was the first time in 18 months where we increased the recapture of lapsed listeners." For paid users, Pandora's revenue per user jumped to $6.30, up nearly a third from $4.76 a year ago. Pandora Chief Financial Officer Naveen Chopra said that was primarily a result of users opting for Pandora's $9.99 month "Premium" plan, which competes against Apple Music and Spotify to let users select what songs to listen to, rather than its older "Plus" plan for ad-free radio stations where users cannot select the songs. "We expect we'll continue to see that (increase in revenue per user) as Premium grows. Plus is actually declining a bit, so Premium has an outsized impact," Chopra said. On a conference call with investors, Pandora executives also said they expect its $145 million deal to buy AdsWizz, an audio advertising technology firm, to close in mid-May. That technology will make it easier for advertisers to place ads on Pandora's service, as well as the services of other online streaming music services. "It's very similar to what Google did when they bought DoubleClick," Lynch told Reuters, "and that's worked out well for them." Excluding items, Pandora posted a loss of 27 cents per share. Total revenue increased to $319.2 million from $316.0 million. Analysts on average had expected a loss of 38 cents per share and revenue of $304.3 million. (Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; editing by Sriraj Kalluvila and Lisa Shumaker)

https://www.cnbc.com/2018/05/03/reuters-america-update-3-powered-by-subscriptions-pandora-media-losses-beat-estimates.html

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Health care: Trump set to unveil drug price policy

The need to bring down high drug prices may be one of the few health care issues that draw bipartisan support in Washington and on Main Street. President Donald Trump is expected to outline new policies to deliver on his pledge to bring prices down in a speech that could come this week. "We'll be building on the proposals in the president's budget, but he wants to go further," said Alex Azar, Health and Human Services secretary, in a speech last week . "The entire system is under review." Azar's comments and the uncertainty over how the new policies will impact the drug supply chain weighed on the stocks of pharmacy benefit managers and drug distributors last week. Shares of pharmacy giant CVS Health and pharmacy benefit firm Express Scripts fell about 9 percent for the week, despite strong earnings reports; shares of distributors AmerisourceBergen and McKesson declined 7 percent. One of the key issues the Trump administration outlined in its budget earlier this year was passing on discounts pharmacy benefit managers (PBMs) negotiate with drug makers to seniors in Medicare Part D drug plans. Those discounts, or rebates, have come under fire for pushing pharmaceutical firms to inflate their list prices, which has contributed to higher out-of-pocket costs for consumers, from critics including the Trump administration's FDA commissioner. "One of the dynamics I've talked about before that's driving higher and higher list prices is the system of rebates between payers and manufacturers," FDA Commissioner Scott Gottlieb said in a speech last Thursday, suggesting the administration is looking at changing the law. Under current laws, Medicare recipients aren't eligible for direct drugmaker coupons because of anti-kickback laws, Gottlieb suggested that rebates should be reclassified to fall under regulatory scrutiny. "Such a step could restore some semblance of reality to the relationship between list and negotiated prices, and thereby boost affordability and competition," Gottlieb said. For now, the administration is looking at requiring that at least 33 percent of that rebate be passed on to seniors, according to a source familiar with the discussions. Some published reports say there is a push for 100 percent pass-through of rebates to seniors. Insurers and pharmacy benefit managers argue that passing on all of the discounts to seniors who buy expensive drugs, will result in higher premiums for all Part D enrollees. "Keep in mind ... as you've heard us and quite frankly others talk about the dynamic here (is) that 100 percent of that rebate value in Part D is passed through the plan's design in the form of a lower premiums," said CVS Health CEO Larry Merlo on his company's earnings call. "So, as it relates to the PBM, that would have no impact on profitability if that ended up moving forward." "I think the concern that exists ... (is) what's the dynamic as it relates to beneficiary premiums going up?" Merlo said. While specialty drug prices have risen, Medicare Part D plan premiums have remained relatively stable in recent years, another senior plan provider noted. "It's going to put pressure somewhere. If it doesn't put it on the Part D premiums, it's going to likely place it on folks that are likely outside of Medicare age ... people under 65," said Richard Cantu, co-founder of a Medicare supplement plan that was acquired by eHealth in January. In 2016, the Congressional Budget Office estimated that passing on a 23 percent discount for low-income seniors in Part D plans would result in more than $140 billion in Medicare savings over 10 years, but would also likely result in higher costs and spending in other parts of the nation's health system. "Drug manufacturers would be expected to set higher 'launch' prices for new drugs as a way to limit the effect of the new rebate, particularly for new drugs that do not have close substitutes," reducing the Medicare savings over time, CBO analysts wrote in their report. "Employment-based health insurance plans would probably negotiate larger rebates to offset a portion of the higher prices, but state Medicaid programs would pay more for new drugs, which in turn would increase federal spending," the CBO concluded. "Price transparency is not going to be enough to slow costs. There also needs to be a mechanism to either remediate the problem and/or deter future bad behavior," by drug makers who set high prices, said Les Funtleyder, health care portfolio manager at E Squared Capital Management. Azar said the administration's new proposal will take aim at high list prices on drugs, as well as expanding the Medicare program's ability to negotiate prices on more drugs under Medicare Part D drug plans, and the problem of "foreign governments free-riding off of American investment in innovation."

https://www.cnbc.com/2018/05/06/health-care-trump-set-to-unveil-drug-price-policy.html

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COLUMN-Hedge funds hold fire as oil prices hit multi-year highs: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: https://tmsnrt.rs/2ImLn8d LONDON, May 8 (Reuters) - For all the bullish commentary around oil prices at the moment, hedge fund managers have made only minor changes to their overall position in petroleum futures and options in the last few weeks. To the extent they have made any changes at all, fund managers have been reducing rather than adding to bullish positions since the middle of April (https://tmsnrt.rs/2ImLn8d). Hedge funds and other money managers cut their net long position in the six most important petroleum futures and options contracts by 28 million barrels in the most recent week. Fund managers have reduced their net long position for two consecutive weeks, to 1.376 billion barrels by May 1 from a recent peak of 1.411 billion barrels on April 17. In a repeat of the week before, the liquidation last week was concentrated in crude oil, while portfolio managers increased their exposure to refined products slightly. Funds cut their net long position in Brent (-21 million barrels) as well as NYMEX and ICE WTI (-12 million barrels). By contrast, they increased their net position in U.S. gasoline (+1 million barrels), U.S. heating oil (+1 million barrels) and European gasoil (+2 million barrels). The fundamental outlook remains fairly bullish with strong growth in oil consumption, continued output restraint by OPEC and a draw down in oil inventories below the five-year average. Production and exports from Venezuela are declining is threatening Iran nuclear agreement which could cut that countrys exports in the coming months. But hedge fund managers have already amassed a near-record bullish position in futures and options contracts linked to crude and fuels. Positioning has become exceptionally stretched and lopsided across the petroleum complex, with hedge funds long positions outnumbering short ones by a ratio of almost 12:1 (and as much as 17:1 in the case of Brent). Fund managers show no inclination to add substantially to their existing longs, which may indicate they are fully invested for the time being. Related columns: Hedge funds trim positions in crude but boost fuels, Reuters, April 30 Hedge funds build record bullish position in Brent, Reuters, April 16 Hedge funds rotate from WTI to Brent in search for roll yield, Reuters, April 9 Oil market locked, almost all funds expect further price rises, Reuters, March 27 (Editing by Susan Fenton)

https://www.cnbc.com/2018/05/08/reuters-america-column-hedge-funds-hold-fire-as-oil-prices-hit-multi-year-highs-kemp.html

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Seven Stars Cloud to Report Q1 2018 Results and Host Earnings Call Tuesday, May 15

NEW YORK, May 2, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced today that it will report for first quarter 2018 financial results on May 15, 2018. SSC's management, including Bruno Wu (Executive Chairman & CEO), Bob Benya (President, Director & Chief Revenue Officer), and Jason Wu (Interim CFO), will host an earnings conference call at 8:00 a.m. on Tuesday, May 15, 2018, U.S. Eastern Time (8:00 p.m. on Tuesday, Beijing/Hong Kong Time). Webcast Link: via 'Events & Presentation' section of SSC's corporate website or https://78449.themediaframe.com/dataconf/productusers/ssc/mediaframe/24571/indexl.html (link will be active closer to actual earnings release date) Dial-in Number: (Toll-Free US & Canada): 877-407-3107; (International): 201-493-6796 SSC management encourages investors to email their questions in advance of the webcast/call and time permitting, management will answer the submitted questions. Please email ir@sevenstarscloud.com . About Seven Stars Cloud Group, Inc. ( http://www.sevenstarscloud.com/ ) SSC is aiming to become a next generation Artificial-Intelligent (AI) & Blockchain-Powered, Fintech company. By managing and providing an infrastructure and environment that facilitates the transformation of traditional financial markets such as commodities, currency and credit into the asset digitization era, SSC provides asset owners and holders a seamless method and platform for digital asset securitization and digital currency tokenization and trading. Safe Harbor Statement This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. CONTACT: Jason Finkelstein Seven Stars Cloud Group, Inc. 646-532-6468 View original content: http://www.prnewswire.com/news-releases/seven-stars-cloud-to-report-q1-2018-results-and-host-earnings-call-tuesday-may-15-300641366.html SOURCE Seven Stars Cloud Group, Inc.

http://www.cnbc.com/2018/05/02/pr-newswire-seven-stars-cloud-to-report-q1-2018-results-and-host-earnings-call-tuesday-may-15.html

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METALS-Aluminium drops for third session on rising stockpiles, nickel up

May 18, 2018 / 3:49 AM / Updated an hour ago METALS-Aluminium drops for third session on rising stockpiles, nickel up Reuters Staff 5 Min Read (Adds nickel, updates prices) By Manolo Serapio Jr MANILA, May 18 (Reuters) - London aluminium futures slipped for a third straight session on Friday as inventories increased, easing worries over a supply shortage in the aftermath of U.S. sanctions on major Russian producer Rusal. On-warrant aluminium stocks in warehouses certified by the London Metal Exchange - inventories that are not earmarked for delivery - surged by 153,075 tonnes or 18 percent on Wednesday, LME data showed on Thursday. MALSTX-TOTAL Three-month aluminium on the London Metal Exchange was down 0.7 percent at $2,277 tonne, as of 0331 GMT, not far above Thursday's two-week low of $2,248.50. "Markets are less worried of a prolonged deficit as Rusal (is) set to boost aluminium exports after the U.S. relaxed its sanctions against Rusal in late April," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "LME aluminium cancelled warrants are now on par with levels before the sanctions were announced, potentially meaning that we could see some stability at these price levels." About two weeks after imposing sanctions on Rusal, the United States last month gave American customers of Russia's biggest aluminium producer more time to comply with sanctions, and said it would consider lifting them if Rusal's major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. NICKEL: Nickel outperformed other metals, with the LME price rising to a nearly one-month high of $14,830 a tonne. In Shanghai, the most-traded July nickel contract climbed more than 2 percent to an intraday peak of 110,200 yuan per tonne, its loftiest since June 2015. Nickel is the best performing metal on LME this year, gaining nearly 16 percent so far, with stocks of the metal at LME warehouses at the lowest since July 2014. MNI-STOCKS NICKEL DEFICIT: The global nickel market deficit widened to 15,700 tonnes in March from a revised deficit of 6,600 tonnes in the previous month, the International Nickel Study Group said. COPPER: LME copper dropped 0.2 percent to $6,869 a tonne following a two-day gain. In Shanghai, the most-traded July copper contract on the Shanghai Futures Exchange rose 0.4 percent to 51,280 yuan ($8,051) a tonne. MARKETS: The dollar hit a four-month high against the yen, buoyed by a rise in U.S. Treasury yields that suggests a more upbeat outlook for the world's largest economy. Asian stocks edged up. JINCHUAN: China's Jinchuan Group International Resources plans to double its African copper and cobalt production in the next two to three years. VEDANTA: Vedanta Resources Plc's Thootukudi copper smelter, one of India's biggest, will remain shut until at least June 6. 0331 GMT Three month LME copper 6869 Most active ShFE copper 51280 Three month LME aluminium 2277 Most active ShFE aluminium 14775 Three month LME zinc 3084.5 Most active ShFE zinc 23720 Three month LME lead 2365 Most active ShFE lead 19585 Three month LME nickel 14755 Most active ShFE nickel 109530 Three month LME tin 20615 Most active ShFE tin 144770 LME/SHFE COPPER LMESHFCUc3 297.61 LME/SHFE ALUMINIUM LMESHFALc3 -2104.08 LME/SHFE ZINC LMESHFZNc3 379.9 LME/SHFE LEAD LMESHFPBc3 463.67 LME/SHFE NICKEL LMESHFNIc3 -2058.48 ($1 = 6.3693 Chinese yuan) (Reporting by Manolo Serapio Jr.; Editing by Richard Pullin and Sherry Jacob-Phillips)

https://www.reuters.com/article/global-metals/metals-aluminium-drops-for-third-session-on-rising-stockpiles-nickel-up-idUSL3N1SP1NQ

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