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Shineco, Inc. Reports Third Quarter of 2018 Financial Results

BEIJING, May 17, 2018 /PRNewswire/ -- Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China, announced today its financial results for the third quarter ended March 31, 2018. Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, Inc., commented, "We are delighted that our increased capital spending in 2017 has translated into increased profitability in 2018. Our business in Xinjiang factory has turned a profit, and our sales in Shandong have remained stable. This is reflected in our financial results. Shineco's gross profit had increased by 102% to $5.26 million, our operating margin had increased by 8.4 percentage points to 29.4%, and our gross margin had increased by 6.7 percentage points to 39.4% compared to the same period of last year." Mr. Zhang concluded, "The market's response to our Luobuma product line has been immensely positive, as reflected by an impressive sales increase of 388.6% to $5.48 million from $1.12 million from the same period of last year. We are pleased with the recognition from our clients, as we continue to innovate and expand in the future." Third Quarter of 2018 Financial Highlights For the Three Months Ended March 31 ($ millions, except per share data) 2018 2017 % Change Revenue 13.34 7.94 68.0% Luobuma products 5.48 1.12 388.6% Chinese medicinal herbal products 3.30 3.05 8.3% Other agricultural products 4.56 3.77 20.9% Gross profit 5.26 2.60 102.2% Gross margin 39.4% 32.8% 6.7% Operating income 3.92 1.67 135.0% Operating margin 29.4% 21.0% 8.4% Net income attributable to Shineco 4.55 1.92 136.8% EPS 0.21 0.09 135.2% Revenues increased by 68.0% to $13.34 million for the three months ended March 31, 2018 from $7.94 million for the same period last year. Gross profit increased by 102.2% to $5.26 million for the three months ended March 31, 2018 from $2.60 million for the same period last year. Gross margin increased by 6.7 percentage points to 39.4% from 32.8% for the same period of last year. Net income attributable to Shineco increased by 136.8% to $4.55 million, or $0.21 per basic and diluted share, for the three months ended March 31, 2018 from $1.92 million, or $0.09 per basic and diluted share, for the same period last year. The increases in net income and earnings per share were primarily due to an increase in gross profit, partially offset by an increase in general and administrative expenses. Third Quarter of 2018 Financial Results Revenues Revenues for the three months ended March 31, 2018 increased by $5.40 million, or 68.0%, to $13.34 million from $7.94 million for the same period of last year, mainly due to increased sales of all products. For the Three Months Ended March 31 2018 2017 ($ millions) Revenues COGS Gross Margin Revenues COGS Gross Margin Luobuma products 5.48 2.36 56.9% 1.12 0.57 49.2% Chinese medicinal herbal products 3.30 2.56 22.0% 3.05 2.28 24.7% Other agricultural products 4.56 3.15 31.0% 3.77 2.47 34.4% Business and sales related taxes - 0.01 - - 0.02 - Total 13.34 8.08 39.4% 7.94 5.34 32.8% Revenues from Luobuma products increased by $4.36 million, or 388.6%, to $5.48 million for the three months ended March 31, 2018 from $1.12 million for the same period of last year, mainly due to establishment of new subsidiary, Xinjiang Taihe, which generated revenue of $5,210,768. Revenues from Chinese medicinal herbal products increased by $0.25 million, or 8.3%, to $3.30 million for the three months ended March 31, 2018 from $3.05 million for the same period of last year. The increase was primarily due to more fulfilled sales orders from customers for the three months ended March 31, 2018 than the same period in 2017. Revenues from other agricultural products increased by $0.79 million, or 20.9%, to $4.56 million for the three months ended March 31, 2018 from $3.77 million for the same period of last year. The sales of other agricultural products were mainly derived from sales of yew trees and our storage services. The increase was mainly due to the increase in sales volume of yew trees since the public realized the air purification function of the yew trees. Gross profit and Gross Margin Total cost of goods sold increased by $2.74 million, or 51.3%, to $8.08 million for the three months ended March 31, 2018 from $5.34 million for the same period of last year. Gross profit increased by $2.66 million, or 102.2%, to $5.26 million for the three months ended March 31, 2018 from $2.60 million for the same period of last year. Overall gross margin increased by 6.7 percentage points to 39.4% for the three months ended March 31, 2018, compared to 32.8% for the same period of last year. Gross margins for Luobuma products, Chinese medicinal herbal products, and other agricultural products were 56.9%, 22.0%, and 31.0%, respectively, for the three months ended March 31, 2018. This compared to gross margins for Luobuma products, Chinese medicinal herbal products, and other agricultural products of 49.2%, 24.7%, and 34.4%, respectively, for the same period of last year. Operating income Selling expenses increased by $0.08 million, or 27.4%, to $0.39 million for the three months ended March 31, 2018 from $0.30 million for the same period of last year, primarily due to the acquisition of a new subsidiary, Tianjin Tajite, in October 2017. The increase in selling and distribution expenses was also a result of increased promotion expenses as the Company enhanced its online sales promotions, partially offset by decreased rent expense of warehouse and salary expenses due to more effective cost control during the three months ended March 31, 2018 compared to the same period of 2017. General and administrative expenses increased by $0.33 million, or 51.5%, to $0.96 million for the three months ended March 31, 2018 from $0.63 million for the same period of last year. The increase in general and administrative expenses was primarily due to the incorporation and acquisition of new subsidiaries, Tiankunrunze in last quarter of fiscal year 2017, and Xinjiang Taihe and Tianjin Tajite in fiscal year 2018. As a result, total operating expenses increased by $0.41 million, or 43.6%, to $1.34 million for the three months ended March 31, 2018 from $0.94 million for the same period of last year. Operating income increased by $2.25 million, or 135.0%, to $3.92 million for the three months ended March 31, 2018 from $1.67 million for the same period of last year. Operating margin was 29.4% for the three months ended March 31, 2018, compared to 21.0% for the same period of last year. Net income Net income increased by $2.55 million, or 130.4%, to $4.51 million for the three months ended March 31, 2018 from $1.96 million for the same period of last year. After the deduction of non-controlling interests, net income attributable to common shareholders for the three months ended March 31, 2018 was $4.55 million, or $0.21 per basic and diluted share. This compared to net income attributable to common shareholders of $1.92 million, $0.09 per basic and diluted share, for the same period of last year. Nine Months Ended March 31, 2018 Financial Results For the Nine Months Ended March 31 ($ millions, except per share data) 2018 2017 % Change Revenue 35.28 25.53 38.2% Luobuma products 10.41 2.77 276.0% Chinese medicinal herbal products 10.23 9.73 5.2% Other agricultural products 14.64 13.04 12.3% Gross profit 12.17 8.47 43.6% Gross margin 34.5% 33.2% 1.3% Operating income 8.11 5.25 54.4% Operating margin 23.0% 20.6% 2.4% Net income attributable to Shineco 9.41 6.12 53.7% EPS 0.45 0.30 49.3% Revenues Revenues for the nine months ended March 31, 2018 increased by $9.75 million, or 38.2%, to $35.28 million from $25.53 million for the same period of last year, mainly due to increased sales of all products. For the Nine Months Ended March 31 2018 2017 ($ millions) Revenues COGS Gross Margin Revenues COGS Gross Margin Luobuma products 10.41 4.81 53.7% 2.77 1.37 50.0% Chinese medicinal herbal products 10.23 7.89 22.5% 9.73 7.20 25.6% Other agricultural products 14.64 10.36 29.2% 13.04 8.44 35.3% Business and sales related taxes - 0.06 - - 0.05 - Total 35.28 23.11 34.5% 25.53 17.06 33.2% Revenues from Luobuma products increased by $7.64 million, or 276.0%, to $10.41 million for the nine months ended March 31, 2018 from $2.77 million for the same period of last year, mainly due to revenue generated by a new subsidiary, Xinjiang Taihe, of US$ 8,145,196. Moreover, the increase of revenue from this segment was due to increased sales volume of our health awareness related products. The Company also enhanced online sales promotions during the nine months ended March 31, 2018, which contributed to more sales revenue overall. Revenues from Chinese medicinal herbal products increased by $0.51 million, or 5.2%, to $10.23 million for the nine months ended March 31, 2018 from $9.73 million for the same period of last year. The increase was primarily due to more fulfilled sales orders from customers for the nine months ended March 31, 2018 than the same period in 2017. Revenues from other agricultural products increased by $1.60 million, or 12.3%, to $14.64 million for the nine months ended March 31, 2018 from $13.04 million for the same period of last year. The increase was mainly attributable to the increase in sales volume of yew trees since the public realized the air purification function of the yew trees. Gross profit and Gross Margin Total cost of goods sold increased by $6.06 million, or 35.5%, to $23.11 million for the nine months ended March 31, 2018 from $17.06 million for the same period of last year. Gross profit increased by $3.70 million, or 43.6%, to $12.17 million for the nine months ended March 31, 2018 from $8.47 million for the same period of last year. Overall gross margin increased by 1.3 percentage points to 34.5% for the nine months ended March 31, 2018, compared to 33.2% for the same period of last year. Gross margins for Luobuma products, Chinese medicinal herbal products, and other agricultural products were 53.7%, 22.5%, and 29.2%, respectively, for the nine months ended March 31, 2018. This compared to gross margins for Luobuma products, Chinese medicinal herbal products, and other agricultural products of 50.0%, 25.6%, and 35.3%, respectively, for the same period of last year. Operating income Selling expenses increased by $0.05 million, or 3.9%, to $1.23 million for the nine months ended March 31, 2018 from $1.19 million for the same period of last year, primarily due to the acquisition of a new subsidiary, Tianjin Tajite, in October 2017. The increase in selling and distribution expenses was also a result of increased promotion expenses as the Company enhanced its online sales promotions, partially offset by decreased rent expense of warehouse and salary expenses due to more effective cost control during the nine months ended March 31, 2018 compared to the same period of 2017. General and administrative expenses increased by $0.79 million, or 39.0%, to $2.82 million for the nine months ended March 31, 2018 from $2.03 million for the same period of last year. The increase in general and administrative expenses was primarily attributable to the incorporation and acquisition of new subsidiaries, Tiankunrunze in second quarter of fiscal year 2017, and Xinjiang Taihe and Tianjin Tajite in fiscal year 2018. The increase in general and administrative expenses was also a result of increased professional service fees, such as attorney's fees, consulting fees and auditing fees. As a result, total operating expenses increased by $0.84 million, or 26.0%, to $4.05 million for the nine months ended March 31, 2018 from $3.22 million for the same period of last year. Operating income increased by $2.86 million, or 54.4%, to $8.11 million for the nine months ended March 31, 2018 from $5.25 million for the same period of last year. Operating margin was 23.0% for the nine months ended March 31, 2018, compared to 20.6% for the same period of last year. Net income Net income increased by $3.12 million, or 50.0%, to $9.35 million for the nine months ended March 31, 2018 from $6.23 million for the same period of last year. After the deduction of non-controlling interests, net income attributable to common shareholders for the nine months ended March 31, 2018 was $9.41 million, or $0.45 per basic and diluted share. This compared to net income attributable to common shareholders of $6.12 million, $0.30 per basic and diluted share, for the same period of last year. Financial Condition As of March 31, 2018, the Company had cash and cash equivalents of $28.43 million, compared to $23.15 million as of June 30, 2017. Net cash used in operating activities was $5.34 million for the nine months ended March 31, 2018, compared to net cash used in operating activities of $1.38 million for the same period of last year. Net cash used in investing activities was $0.90 million for the nine months ended March 31, 2018, compared to $1.69 million for the same period of last year. Net cash used in financing activities was $0.45 million for the nine months ended March 31, 2018, compared to net cash provided by financing activities of $5.60 million for the same period of last year. About Shineco, Inc. Incorporated in August 1997 and headquartered in Beijing, China, Shineco, Inc. ("Shineco" or the "Company") is a Delaware holding company that uses its subsidiaries' and variable interest entities' vertically- and horizontally-integrated production, distribution and sales channels to provide health and well-being focused plant-based products in China. Utilizing modern engineering technologies and biotechnologies, Shineco produces, among other products, Chinese herbal medicines, organic agricultural produce and specialized textiles. For more information about the Company, please visit www.shinecobiotech.com . Forward-Looking Statements This press release contains information about Shineco's view of its future expectations, plans and prospects that constitute . Actual results historical results or those indicated by these as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Shineco encourages you to review other factors that may affect its future results in Shineco's registration statement and in its other filings with the Securities and Exchange Commission. For more information, please contact: Tina Xiao Ascent Investor Relations LLC Phone: +1-917-609-0333 Email: tina.xiao@ascent-ir.com SHINECO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, June 30, 2018 2017 (Unaudited) ASSETS CURRENT ASSETS: Cash $ 28,432,209 $ 23,154,551 Accounts receivable, net 24,864,469 14,480,004 Due from related parties 409,193 448,833 Inventories 2,765,143 2,346,273 Advances to suppliers, net 3,582,001 2,396,123 Deferred issuance cost 434,000 - Other current assets 818,934 1,900,143 TOTAL CURRENT ASSETS 61,305,949 44,725,927 Property and equipment, net 12,463,088 10,320,396 Land use right, net of accumulated amortization 1,426,571 1,346,631 Investments 6,703,975 5,695,080 Deposit for business acquisition 128,967 2,065,686 Distribution rights 1,175,033 - Long-term deposit and other noncurrent assets 121,494 112,883 Prepaid leases 3,706,730 3,784,533 Deferred tax assets - 233,834 Goodwill 2,230,683 - TOTAL ASSETS $ 89,262,490 $ 68,284,970 LIABILITIES AND EQUITY CURRENT LIABILITIES: Short-term loans $ 2,481,156 $ 2,663,628 Accounts payable 3,242,373 158,068 Advances from customers 6,811 5,439 Due to related parties 206,885 257,880 Other payables and accrued expenses 2,181,904 337,107 Taxes payable 2,385,329 1,608,926 TOTAL CURRENT LIABILITIES 10,504,458 5,031,048 Deferred tax liability 4,229 - TOTAL LIABILITIES 10,508,687 5,031,048 Commitments and contingencies - - EQUITY: Common stock; par value $0.001, 100,000,000 shares authorized; 21,234,072 and 21,034,072 shares issued and outstanding at March 31, 2018 and June 30, 2017 21,234 21,034 Additional paid-in capital 23,171,102 22,737,302 Statutory reserve 4,074,570 3,484,449 Retained earnings 47,880,159 39,064,743 Accumulated other comprehensive loss 2,489,677 (3,140,982) Total Stockholders' equity of Shineco, Inc. 77,202,742 62,166,546 Non-controlling interest 1,117,061 1,087,376 TOTAL EQUITY 78,319,803 63,253,922 TOTAL LIABILITIES AND EQUITY $ 89,262,490 $ 68,284,970 SHINECO, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) For the Nine Months Ended March 31, For the Three Months Ended March 31, 2018 2017 2018 2017 REVENUE $ 35,282,977 $ 25,531,313 $ 13,341,281 $ 7,941,583 COST OF REVENUE Cost of product and services 23,059,329 17,007,048 8,065,117 5,319,742 Business and sales related tax 55,624 53,228 14,287 19,264 Total cost of revenue 23,114,953 17,060,276 8,079,404 5,339,006 GROSS PROFIT 12,168,024 8,471,037 5,261,877 2,602,577 OPERATING EXPENSES General and administrative expenses 2,820,689 2,029,981 956,765 631,640 Selling expenses 1,232,713 1,186,536 387,494 304,182 Total operating expenses 4,053,402 3,216,517 1,344,259 935,822 INCOME FROM OPERATIONS 8,114,622 5,254,520 3,917,618 1,666,755 OTHER INCOME Income from equity method investments 703,453 699,380 352,801 297,612 Purchase rebate income 1,191,011 846,297 411,076 253,669 Other income 220,270 253,196 80,295 93,888 Interest income (expense), net (41,684) 15,124 (10,360) (25,414) Total other income 2,073,050 1,813,997 833,812 619,755 INCOME BEFORE PROVISION FOR INCOME TAXES 10,187,672 7,068,517 4,751,430 2,286,510 PROVISION FOR INCOME TAXES 834,647 833,661 239,612 328,274 NET INCOME 9,353,025 6,234,856 4,511,818 1,958,236 Less: net income (loss) attributable to non-controlling interest (52,512) 116,006 (40,084) 35,829 NET INCOME ATTRIBUTABLE TO SHINECO, INC. $ 9,405,537 $ 6,118,850 $ 4,551,902 $ 1,922,407 COMPREHENSIVE INCOME Net income $ 9,353,025 $ 6,234,856 $ 4,511,818 $ 1,958,236 Other comprehensive income (loss): foreign currency translation gain (loss) 5,714,317 (1,985,492) 2,683,536 528,683 Total comprehensive income 15,067,342 4,249,364 7,195,354 2,486,919 Less: comprehensive income attributable to non-controlling interest 31,146 80,161 (1,249) 43,720 COMPREHENSIVE INCOME ATTRIBUTABLE TO SHINECO, INC. $ 15,036,196 $ 4,169,203 $ 7,196,603 $ 2,443,199 Weighted average number of shares basic and diluted 21,080,787 20,477,598 21,176,294 21,034,072 Basic and diluted earnings per common share $ 0.45 $ 0.30 $ 0.21 $ 0.09 SHINECO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) For the Nine Months Ended March 31, 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 9,353,025 $ 6,234,856 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 489,835 445,037 Loss from disposal of property and equipment 5,520 - Bad debt expense 47,497 147,770 Increase in inventory reserve 153,029 45,419 Deferred tax (benefit) provision (35,677) 9,790 Income from equity method investments (703,452) (699,380) Interest income from loans to related parties - (86,585) Changes in operating assets and liabilities: Accounts receivable (8,876,896) (7,744,632) Advances to suppliers (939,882) (929,907) Inventories (315,834) 2,613,094 Other receivables 259,946 (864,944) Prepaid expense and other assets 233,107 (192,464) Due from related parties 125,501 361,287 Prepaid leases 361,665 351,480 Accounts payable 2,945,920 185,693 Advances from customers (81,157) 26,247 Other payables 1,716,955 (1,519,339) Taxes payable 604,558 232,390 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 5,343,660 (1,384,188) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisitions of property and equipment (1,721,647) (41,016) Proceeds from disposal of property and equipment 603 - Payment for construction in progress (5,843) - Repayments (advances to) of loans from third parties 831,453 (506,452) Loan advances to related party (53,443) - Repayments of loans from related parties - 567,246 Income received from investments in unconsolidated entities 152,694 551,933 Deposit for business acquisition (123,682) (2,060,548) Deposit for potential investment - (200,000) Cash of subsidiary acquired 23,153 - NET CASH (USED IN) INVESTING ACTIVITIES (896,712) (1,688,837) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from short-term loans 2,443,100 2,680,184 Repayment of short-term loans (2,820,126) (2,406,426) Stock issuance cost payable - 843,844 Proceeds from initial public offering, net of offering costs - 4,550,705 Repayments of advances from related parties (68,465) (68,984) NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (445,491) 5,599,323 EFFECT OF EXCHANGE RATE CHANGE ON CASH 1,276,201 (861,050) NET INCREASE IN CASH 5,277,658 1,665,248 CASH - Beginning of the Period 23,154,551 22,009,374 CASH - End of the Period $ 28,432,209 $ 23,674,622 SUPPLEMENTAL CASH FLOW DISCLOSURES: Cash paid for income taxes $ 702,064 $ 579,566 Cash paid for interest $ 98,017 $ 109,208 SUPPLEMENTAL NON-CASH INVESTING ACTIVITY: Issued 200,000 shares of deferred issuance cost $ 434,000 $ - View original content: http://www.prnewswire.com/news-releases/shineco-inc-reports-third-quarter-of-2018-financial-results-300650566.html SOURCE Shineco, Inc

http://www.cnbc.com/2018/05/17/pr-newswire-shineco-inc-reports-third-quarter-of-2018-financial-results.html

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Vibra Healthcare Enters Partnership to Combine Ernest Health, Inc. and Certain Vibra Healthcare Assets

MECHANICSBURG, Pa., May 31, 2018 /PRNewswire/ -- Vibra Healthcare, LLC ("Vibra"), a post-acute care provider, today announced it has reached an agreement to form a partnership consisting of Ernest Health, Inc. ("Ernest"), and several Vibra rehabilitation hospitals and development projects, which will be contributed in exchange for a significant equity participation in the new entity. One Equity Partners ("OEP"), a leading middle market private equity firm which joins Vibra in the partnership, has agreed to acquire Ernest from Medical Properties Trust ("MPT") and Ernest's management shareholders. Following the completion of the transactions, Ernest will be managed by the Vibra management team, led by Chairman & CEO Brad Hollinger, and will continue to operate under the Ernest name. Ernest currently operates twenty-five inpatient rehabilitation and long-term acute care hospitals in eleven states, including Arizona, Colorado, Idaho, Indiana, Montana, New Mexico, Ohio, South Carolina, Texas, Utah and Wyoming. Financial details of the transactions have not been disclosed. The transactions are expected to close during the third quarter of 2018. "We are very excited to have the opportunity to join forces with an organization with an exceptional industry reputation," stated Brad Hollinger, Vibra's Chairman and Chief Executive Officer. "The Ernest management team is recognized as an industry leader in patient care and we look forward to establishing best practices system wide. Strategically, the Ernest hospitals balance Vibra's portfolio of hospitals between inpatient rehabilitation and long-term acute care, better positioning Vibra to thrive in the fast-changing post-acute environment. From a geographic perspective, Ernest provides Vibra entry into over twenty new markets. Furthermore, we are delighted to partner with OEP, a private equity firm with an outstanding reputation for creating shareholder value," Hollinger added. "The Vibra management team has demonstrated a tremendous ability to grow companies across the post-acute care continuum organically and via acquisitions. The opportunity to partner with Brad and the Vibra management team was a critical factor in our decision to acquire Ernest. The combination of Ernest with the Vibra assets represents the culmination of several years working with the Vibra team who we believe are uniquely qualified to build upon the strong Ernest foundation," added Greg Belinfanti, Senior Managing Director at OEP. About Vibra Healthcare Vibra Healthcare, LLC is a post-acute care provider based in Mechanicsburg, PA that is focused on the development, acquisition, and operation of freestanding specialty acute care hospitals, medical rehabilitation hospitals, and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra's specialty hospitals for rehabilitating patients who suffer from strokes, multiple traumas, major orthopedic, neurologic, cardiac, and respiratory conditions. Vibra and its affiliates currently employ over 6,000 employees and own and operate 45 specialty hospitals, transitional care units/facilities, and hospital-based outpatient physical therapy locations in 14 states. For additional information about Vibra Healthcare's network of specialty hospitals and post-acute care continuum, please visit our website at www.vibrahealthcare.com . About One Equity Partners OEP is a middle-market private equity firm with approximately $7 billion of assets under management focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 170 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com . View original content with multimedia: http://www.prnewswire.com/news-releases/vibra-healthcare-enters-partnership-to-combine-ernest-health-inc-and-certain-vibra-healthcare-assets-300657518.html SOURCE Vibra Healthcare, LLC

http://www.cnbc.com/2018/05/31/pr-newswire-vibra-healthcare-enters-partnership-to-combine-ernest-health-inc-and-certain-vibra-healthcare-assets.html

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BRIEF-ERCOT Hits New All-Time May Peak Power Demand

May 17 (Reuters) - * The Electric Reliability Council of Texas (ERCOT) set a new all-time May peak demand record between 5 and 6 p.m. on Thursday, while preparing for a record breaking peak usage this summer. * Preliminary operating data showed peak demand topped out at 61,519 megawatt (MW), this is more than 2,200 MW above the May 2017 peak demand record. * One megawatt can power about 1,000 homes. * Previously on Wednesday, the grid operator set a new all-time May peak demand record, with a preliminary peak demand of 61,148 MW between 4 and 5 p.m. This is more than 1,800 MW higher than the previous May record set in 2017. * Ercot North EL-PK-ERTN-SNL power prices rose to $130 per megawatt hour, their highest since January, due to a heat wave blanketing the Gulf Coast region. SOURCE: here RELATED: U.S. power grid ready for summer, but Calif. & Texas are concerns -FERC Reporting by Sumita Layek in Bengaluru

https://www.reuters.com/article/brief-ercot-hits-new-all-time-may-peak-p/brief-ercot-hits-new-all-time-may-peak-power-demand-idUSL3N1SO5AF

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Sheryl Sandberg says Facebook didn't anticipate how people would abuse the platform

How come nobody from Facebook got fired over the Cambridge Analytica data leak scandal? That was the first question moderator Kara Swisher asked Facebook COO Sheryl Sandberg on stage at the Code Conference in Rancho Palos Verdes, California, on Tuesday. "People do get fired," Sandberg said, but Facebook doesn't trot them out as examples. But in the end, she said, responsibility belongs at the top. Mark Zuckerberg built the platform, and Sandberg and other members of the senior leadership team didn't anticipate well enough what would happen when all of humanity was using it. Both Sandberg and Facebook CTO Mike Schroepfer tried to explain the difficulty of striking the right balance between free speech and safety on the platform. Schroepfer said there's a tension between "giving people tools for free expression, and really locking things down" by having human moderators read and vet every post on the site. Ahead of the midterms "We always had ways for people to control your data," he said, but now Facebook put it at the top of everybody's news feed and made it easy to delete it. "All of those controls existed, they were just harder to find for people, we just made them easier." Addressing the reports of Russians using fake accounts to spread misinformation to sway the 2016 election, Sandberg once again said that they just didn't see it coming. "Threats change," she said. In 2016, people were largely worried about spamming and phishing, following things like the Sony email hacks. "We didn't see coming a different kind of more insidious threat, but once we saw it, we did publish a white paper" and made a series of changes. She said Facebook is taking strong steps for the 2018 midterm elections and the company looks forward to facing the challenge of bad actors trying to use Facebook to influence the results. Sandberg also said that Facebook was thinking about how to disrupt the economic incentives that existed for generating outrageous stories -- for example by taking clickbait farms out of Facebook's ad networks. show chapters Facebook stock pops after Zuckerberg hearing 10:07 AM ET Thu, 12 April 2018 | 01:46 Sandberg argued that Facebook should not be broken up under antitrust laws, noting that there are safety benefits to having multiple products under the same company's control. "If you are doing child exploitative content, WhatsApp is encrypted," she said, meaning it could allow criminals to exchange information without getting caught. But Facebook will know who they are when they post publicly on that platform and will be able to suspect their WhatsApp accounts as well. Schroepfer also said that the company is working on allowing users to delete all information that Facebook has on them, similar to clearing information like cookies and sites visited from a web browser. Finally, Sandberg noted that the company is making "huge investments" that will affect profitability to make the platform safer and prevent these kinds of abuse. "It's the biggest cultural shift I've seen in the whole history of the company," said Schroepfer.

https://www.cnbc.com/2018/05/29/sheryl-sandberg-defends-facebook-at-code-2018.html

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CANADA FX DEBT-C$ hits six-day low vs greenback amid NAFTA deadline doubts

(Adds strategist Quote: and details on activity; updates prices) * Canadian dollar at C$1.2877, or 77.66 U.S. cents * Bond prices lower across a steeper yield curve * 10-year yield touches four-year high at 2.521 percent By Fergal Smith TORONTO, May 15 (Reuters) - The Canadian dollar hit a nearly one-week low against its U.S. counterpart on Tuesday as the greenback broadly rose and investors weighed prospects of a deadline being met for a new trade pact between Canada, the United States and Mexico. Mexico's economy minister said he saw diminishing chances for a new North American Free Trade Agreement ahead of a May 17 deadline to present a deal that could be signed by the current U.S. Congress. Canada sends about 75 percent of its exports to the United States, so its economy could benefit if a NAFTA deal is reached. "With NAFTA-on, NAFTA-off it places a bit more focus on the upcoming data that we have later this week and prospective tightening that is being priced into the curve," said Mazen Issa, senior FX strategist at TD Securities. Chances of a Bank of Canada interest rate hike at the bank's next policy announcement on May 30 have climbed to about 50 percent from less than 25 percent at the beginning of the month. . The Bank of Canada appears to be losing sway in its own backyard as Canadian bond yields chase after rising U.S. interest rates even though Canadian policy makers have pledged to proceed slowly with rate hikes of their own. The U.S. dollar rose against a basket of major currencies to the highest level since December, as data showing a pickup in U.S. consumer spending exerted fresh selling pressure on U.S. government bonds and sent the yield on the 10-year Treasury note to its highest level since July 2011. At 5 p.m. EDT (2000 GMT), the Canadian dollar was trading 0.5 percent lower at C$1.2877 to the greenback, or 77.66 U.S. cents. The currency hit its weakest level since Wednesday at C$1.2924. The loonie retreated even as the price of oil, one of Canada's major exports, rose to multi-year highs. U.S. crude oil futures settled 0.5 percent higher at $71.31 a barrel. Resales of Canadian homes fell 2.9 percent in April from March to the lowest level in more than five years, the Canadian Real Estate Association said. Canadian government bond prices were lower across a steeper yield curve, with the two-year down 8.5 Canadian cents to yield 2.041 percent and the 10-year falling 51 Canadian cents to yield 2.484 percent. The 10-year yield touched its highest intraday level since April 2014 at 2.521 percent. Canadian inflation data for April is due on Friday. (Reporting by Fergal Smith Editing by Leslie Adler) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/canada-forex/canada-fx-debt-c-hits-six-day-low-vs-greenback-amid-nafta-deadline-doubts-idUSL2N1SM2EV

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GDPR: Everything you need to know

You may have heard of the General Data Protection Regulation (GDPR). But most likely you haven't because it sounds boring, but it's really important and CNBC has a guide to help you understand it. It's a piece of European Union (EU) legislation that could have a far-reaching impact on some of the biggest technology firms in the world including Facebook and Google. So here's your guide to the GDPR. What is GDPR? GDPR is a piece of legislation that was approved in April 2016. European authorities have given companies two years to comply and it will come into force on May 25, 2018. It replaces a previous law called the Data Protection Directive and is aimed at harmonizing rules across the 28-nation EU bloc. The aim is to give consumers control of their personal data as it is collected by companies. Not only will it affect organizations located within the EU, but it will also apply to companies outside of the region if they offer goods or services to, or monitor the behavior of, people in the bloc. This is why GDPR could have a far-reaching impact. show chapters EU's GDPR introduction on May 25 is just the start of the process: Citi 5:40 AM ET Thu, 3 May 2018 | 04:02 What are the key policies? A major focus of GDPR is on conditions of consent which have been strengthened. So companies will not be able to use vague or confusing statements to get you to agree to give them data. Firms won't be able to bundle consent for different things together either. "If you have a page of different consent, and saying by clicking here you consent to lots of things, that will be wrong, you need to be able to apply that consent individually," Harry Small, a partner at law firm Baker & McKenzie, told CNBC by phone. Consent must also be easy to withdraw. For children under 16, a person holding "parental responsibility" must opt-in to data collection on their behalf. Another rule will make it mandatory for companies to notify their data protection authority about a data breach within 72 hours of first becoming aware of it. The processor of the data will need to notify customers "without undue delay" after learning of the breach, according to an EU document. When it comes to user data, consumers will have more control. You will be able to access the personal data being stored by companies and find out where and for what purpose it is being used. You will also have the right to be forgotten. This means you can ask whoever is controlling your data to erase it and potentially stop third parties processing it too. Another provision of GDPR allows people to take their data and transfer it to a different service provider. show chapters Many 'regular' companies are unprepared for the new GDPR rules: CEO 15 Hours Ago | 02:44 Are there punishments for breaking the rules? Yes, and potentially big ones. An organization in breach of GDPR laws will be fined up to 4 percent of annual global turnover or 20 million euros ($24.6 million), whichever is bigger. Some of the biggest technology companies are making billions in turnover every year so this could be a big hit if they were to breach any rules. What will the impact be on firms? Big organizations have had two years to get themselves ready for GDPR. The big technology firms who have huge user bases and handle massive amounts of data have spoken about what they are doing. Facebook recently released some new privacy tools which will help it comply with GDPR. Other big technology firms have also released their plans on GDPR. In a recent note, Barclays said that GDPR is likely going to impact social networks. "We think there is a risk that reported MAUs (monthly average users) could drop off for Facebook and Twitter starting in late 2Q. DAUs (daily average users) are far more important and less of a GDPR concern for the social networks, but may also drop off a bit," Barclays analysts said. "In terms of ad revenue, we see less of an impact, but have heard additional concern around products like custom audiences which all platforms are using. Our checks suggest that most companies using cookies and tags for digital marketing should be relatively unchanged as most publishers have been using GDPR compliant notifications for months ahead of the May mandate."

https://www.cnbc.com/2018/03/30/gdpr-everything-you-need-to-know.html

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UPDATE 3-U.S. safety board probes fatal Tesla accident in Florida

(Adds NTSB probe, closing stock price, other NTSB investigations) May 9 (Reuters) - The U.S. National Transportation Safety Board said on Wednesday it will investigate a Tesla accident in Fort Lauderdale, Florida this week that killed two teenagers and injured another - the agency's fourth active probe into crashes of the company's electric vehicles. The NTSB said it was sending a team of four to investigate Tuesday's crash of a 2014 Tesla Model S that was reportedly traveling at high speed when it struck a wall and caught fire. The agency said it does not believe the Tesla's semi-autonomous Autopilot system will be part of the investigation. This investigation is "primarily focus(ed) on emergency response in relation to the electric vehicle battery fire, including fire department activities and towing operations," the agency said. A preliminary investigation showed the Tesla drove off the road and hit a concrete wall, immediately catching fire, the Fort Lauderdale Police Department said in a statement. The speed of the vehicle is believed to have been a factor in the crash, the police said. Tesla Inc did not immediately comment. Shares of the company closed up at $306.85 up 1.6 percent and were off less than 0.5 percent in afterhours trading. The new investigation adds to an already contentious relationship between the company and the agency. Last month, Tesla lashed out at the NTSB after it took the unusual step of removing the automaker from the investigation of a fatal crash in March in which a Tesla vehicles driver-assistance Autopilot system was in use. The NTSB defended the decision, saying Tesla released investigative information prematurely and in violation of procedure. Tesla in return blasted the NTSB, saying the board was "more concerned with press headlines than actually promoting safety. It accused the agency of violating its own rules while trying to prevent Tesla from disclosing all the facts. The NTSB is also investigating an August 2017 Tesla battery fire in Lake Forest, California, after an owner lost control and ran the vehicle into his garage and a January crash of a Tesla vehicle apparently traveling in Autopilot that struck a fire truck in California. (Reporting by David Shepardson in Washington Arunima Banerjee in Bengaluru; Editing by Bernard Orr and Cynthia Osterman)

https://www.cnbc.com/2018/05/09/reuters-america-update-3-u-s-safety-board-probes-fatal-tesla-accident-in-florida.html

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UPDATE 3-Tesla Model 3 fails to get Consumer Reports nod due to 'big flaws'

(Recasts throughout, adds weekend Tesla crash) May 21 (Reuters) - Influential U.S. magazine Consumer Reports will not recommend Tesla Inc's Model 3 sedan, saying on Monday it braked slower than a full-sized pickup truck, taking the shine off a day of gains for shares in Elon Musk's electric car company. Musk had driven shares in Tesla as much as 4 percent higher with weekend tweets showing the Silicon Valley company was aiming initially to deliver higher-priced, more profitable fully-loaded editions of the Model 3. The car is seen as crucial to Tesla's profitability at a time when it is battling to reverse production shortfalls, confronting reports of crashes involving its vehicles and facing increased skepticism over its finances. On Twitter, Musk said the fully-loaded Model 3, with all-wheel drive, a dual motor and a 310-mile (499-km) range - but excluding its vaunted Autopilot feature - would cost $78,000. The company has not yet begun to make the $35,000 base price version that Tesla originally claimed would make it a mass-market vehicle. Consumer Reports, however, declined to recommend the Model 3 and criticized it for having overly long stopping distances and a difficult-to-use center touchscreen. The magazine, which provides an annual rating of vehicles sold in the United States, said even though its tests found plenty to like about the Model 3 and it was a thrill to drive, it had "big flaws." Tesla's stopping distance of 152 feet (46 m) when braking at 60 miles per hour (100 km per hour) was "far worse" than any contemporary car tested by the magazine and about seven feet longer than the stopping distance of a Ford F-150 full-sized pickup, it said. Tesla said its own testing had found braking distances of 133 feet on average using the 18" Michelin all season tire, and as low as 126 feet with all tires currently available. "Unlike other vehicles, Tesla is uniquely positioned to address more corner cases over time through over-the-air software updates, and it continually does so to improve factors such as stopping distance," Tesla said. "LOSE MONEY AND DIE" Research firm Berenberg also helped give Tesla shares a boost on Monday, after it raised its share price target to $500 from $470 on Friday. Its forecast, the highest among over two dozen analysts tracked by Thomson Reuters, is now more than $200 above the stock's price, which has fallen $100 from September's peak. Musk, whose refusal to answer analysts' questions on a call this month also hurt company shares, said in his weekend tweets that Tesla had to focus first on delivering Model 3s that were priced higher than the base version, or it would "die." "With production, 1st you need achieve target rate & then smooth out flow to achieve target cost. Shipping min cost Model 3 right away wd cause Tesla to lose money & die. Need 3 to 6 months after 5k/wk to ship $35k Tesla & live," Musk tweeted. The new Model 3 version's price was similar to the BMW M3, "but 15 percent quicker & with better handling," Musk added, without giving details. Also over the weekend, a Model S sedan crashed and killed the driver in the San Francisco Bay Area, one of a recent spate of crashes, some of which involved fire and some of which took place while the company's semi-autonomous Autopilot technology was engaged. In the latest case, the car launched off a rural county road into a nearby pond more than 60 feet from the road, state and local law enforcement said. The car appeared to be going faster than the posted 35 mph limit, but authorities had not yet determined its speed and whether Autopilot was engaged, a California Highway Patrol spokesman said. Tesla said it did not yet know the facts and had not yet received data from the car, but was cooperating with local authorities. The National Highway Traffic Safety Administration said it was gathering information and would "take action as appropriate." On Friday, proxy adviser Institutional Shareholder Services (ISS) backed a shareholder proposal to separate Musk's current chairman and CEO roles, suggesting that shareholders would be better served by having Musk focus on running the company. Tesla shares closed up 2.8 percent to $284.49 on the Nasdaq. (Reporting by Vibhuti Sharma and Sonam Rai in Bengaluru; Writing by Alexandria Sage; editing by Patrick Graham and Lisa Shumaker)

https://www.cnbc.com/2018/05/21/reuters-america-update-3-tesla-model-3-fails-to-get-consumer-reports-nod-due-to-big-flaws.html

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Canadian Solar Reports First Quarter 2018 Results

GUELPH, Ontario, May 16, 2018 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its financial results for the first quarter of 2018 ended March 31, 2018. First Quarter 2018 Highlights Total solar module shipments were 1,374 MW, compared to 1,831 MW in the fourth quarter of 2017, and first quarter 2018 guidance in the range of 1.30 GW to 1.35 GW. Net revenue was $1.42 billion, compared to $1.11 billion in the fourth quarter of 2017, and first quarter 2018 guidance in the range of $1.37 billion to $1.40 billion. Net revenue from the total solutions business as a percentage of total net revenue was 64.2% compared to 36.4% in the fourth quarter of 2017. Gross margin was 10.1%, compared to 19.7% in the fourth quarter of 2017, and first quarter 2018 guidance in the range of 10.0% to 12.0%. Net income attributable to Canadian Solar was $43.4 million, or $0.72 per diluted share, compared to net income of $61.4 million, or $1.01 per diluted share, in the fourth quarter of 2017. Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $1.19 billion, compared to $1.19 billion at the end of the fourth quarter of 2017. Net cash provided by operating activities was approximately $253.4 million, compared to net cash provided by operating activities of $189.3 million in the fourth quarter of 2017. During the quarter, the Company completed the sale of three solar power plants in the U.S. totaling 309 MWp to the Korea Electric Power Corporation ("KEPCO") for approximately $720.0 million and completed the sale of 142 MWp of solar power plants in the UK for approximately GBP 191.2 million ($267.7 million) to Greencoat Capital LLP ("Greencoat"). The Company's portfolio of utility-scale solar power plants in operation as of April 30, 2018 was approximately 948 MWp with an estimated total resale value of approximately $1.1 billion. Only the class B share value of the Company's tax equity deal projects in the U.S. is included in this resale value. First Quarter 2018 Results Net revenue in the first quarter of 2018 was $1.42 billion, up 28.5% from $1.11 billion in the fourth quarter of 2017 and up 110.5% from $677.0 million in the first quarter of 2017. Solar module shipments in the first quarter of 2018 were 1,374 MW, compared to 1,831 MW in the fourth quarter of 2017, and first quarter 2018 guidance in the range of 1.30 GW to 1.35 GW. Gross profit in the first quarter of 2018 was $143.9 million, compared $218.6 million in the fourth quarter of 2017 and $91.4 million in the first quarter of 2017. Gross margin in the first quarter of 2018 was 10.1%, compared to 19.7% in the fourth quarter of 2017 and 13.5% in the first quarter of 2017, and first quarter 2018 guidance of 10.0% to 12.0%. The sequential decrease in gross margin was primarily due to the low margin associated with the 309 MWp of U.S. solar power plants sold in the quarter, partially offset by an increased module average selling price in the first quarter of 2018. Total operating expenses in the first quarter of 2018 were $65.7 million, down 25.7% from $88.4 million in the fourth quarter of 2017 and down 29.9% from $93.7 million in the first quarter of 2017. Selling expenses in the first quarter of 2018 were $42.3 million, up 6.0% from $39.9 million in the fourth quarter of 2017 and up 24.7% from $33.9 million in the first quarter of 2017. The sequential increase was primarily due to increased labor costs and transaction costs related to solar power plant sales, partially offset by decreased shipping and handling costs. General and administrative expenses in the first quarter of 2018 were $48.8 million, down 30.0% from $69.7 million in the fourth quarter of 2017 and down 11.4% from $55.1 million in the first quarter of 2017. Excluding a $10.2 million fixed asset impairment charge in the fourth quarter of 2017, the sequential decrease was primarily due to a reversal of $4.5 million in other payables and a decrease in professional service expenses. Research and development expenses in the first quarter of 2018 were $9.5 million, compared to $8.6 million in the fourth quarter of 2017 and $5.6 million in the first quarter of 2017, as the Company further strengthens its leadership position by strategically investing in solar power technology advancements and efficiencies. Other operating income in the first quarter of 2018 was $34.9 million, compared to $29.8 million in the fourth quarter of 2017 and $0.9 million in the first quarter of 2017. Other operating income in the first quarter of 2018 reflects the net gain from the sale of solar power plants in the U.K. and Japan. Income from operations in the first quarter of 2018 was $78.2 million, compared to $130.2 million in the fourth quarter of 2017, and a loss from operations of $2.3 million in the first quarter of 2017. Operating margin was 5.5% in the first quarter of 2018, compared to 11.7% in the fourth quarter of 2017 and negative 0.3% in the first quarter of 2017. The sequential decrease primarily reflects the higher revenue contribution from the sale of lower margin solar power plants in the first quarter of 2018. Non-cash depreciation and amortization charges in the first quarter of 2018 were approximately $34.5 million, compared to $37.2 million in the fourth quarter of 2017, and $17.1 million in the first quarter of 2017. Non-cash equity compensation expense in the first quarter of 2018 was $2.1 million, compared to $2.2 million in the fourth quarter of 2017 and $0.9 million in the first quarter of 2017. Interest expense in the first quarter of 2018 was $29.6 million, compared to $33.5 million in the fourth quarter of 2017 and $24.1 million in the first quarter of 2017. Interest income in the first quarter of 2018 was $3.6 million, compared to $3.2 million in the fourth quarter of 2017 and $2.5 million in the first quarter of 2017. The Company recorded a gain on the change in fair value of derivatives in the first quarter of 2018 of $4.5 million, compared to a gain of $7.6 million in the fourth quarter of 2017 and a loss of $7.8 million in the first quarter of 2017. Foreign exchange loss in the first quarter of 2018 was $8.5 million, compared to $9.5 million in the fourth quarter of 2017, and a foreign exchange gain of $14.2 million in the first quarter of 2017. Income tax expense in the first quarter of 2018 was $4.1 million, compared to $28.9 million in the fourth quarter of 2017, and an income tax benefit of $3.1 million in the first quarter of 2017. Net income attributable to Canadian Solar in the first quarter of 2018 was $43.4 million or $0.72 per diluted share, compared to $61.4 million or $1.01 per diluted share in the fourth quarter of 2017 and a net loss of $13.3 million or $0.23 per diluted share in the first quarter of 2017. Financial Condition The Company had a cash, cash equivalents and restricted cash balance of $1.19 billion as of March 31, 2018, compared to $1.19 billion as of December 31, 2017. Accounts receivable, net of allowance for doubtful accounts, at the end of the first quarter of 2018 were $354.3 million, compared to $358.1 million at the end of the fourth quarter of 2017. Accounts receivable turnover in the first quarter of 2018 was 26 days, compared to 38 days in the fourth quarter of 2017. Inventories at the end of the first quarter of 2018 were $414.1 million, compared to $346.1 million at the end of the fourth quarter of 2017. Inventory turnover in the first quarter of 2018 was 28 days, compared to 35 days in the fourth quarter of 2017. Accounts and notes payable at the end of the first quarter of 2018 were $914.0 million, compared to $975.6 million at the end of the fourth quarter of 2017. Short-term borrowings at the end of the first quarter of 2018 were $1.86 billion, compared to $1.96 billion at the end of the fourth quarter of 2017. Long-term borrowings at the end of the first quarter of 2018 were $328.1 million, compared to $404.3 million at the end of the fourth quarter of 2017. Senior convertible notes totaled $126.7 million at the end of the first quarter of 2018, compared to $126.5 million at the end of the fourth quarter of 2017. Total borrowings directly related to utility-scale solar power projects were $1.12 billion at the end of the first quarter of 2018, compared to $1.38 billion at the end of the fourth quarter of 2017. Total debt at the end of the first quarter of 2018 was approximately $2.45 billion, of which $785.7 million was non-recourse. Approximately $708.4 million of the non-recourse debt related to utility-scale solar power projects. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "Results for the first quarter 2018 are within our expectations, with solar module shipments and revenue exceeding our guidance. The capacity utilization level was lower than the fourth quarter of 2017, due to several reasons, including seasonally low demand and holidays in China, the Section 201 safeguard decision on solar products by the U.S. government and the safeguard trade investigations in India. On the positive side, we maintained a flat to slightly up module average selling price during the quarter. On the energy business side, we are pleased to have completed the sale of three solar power plants in the U.S. to KEPCO, reflecting the attractiveness of our global power assets. We further diversified our utility scale solar power project pipeline geographically into Australia, South Korea and Argentina, as we executed on additional growth opportunities. As of April 30, 2018, our portfolio of utility-scale solar power plants in operation was approximately 948 MWp and our portfolio of late-stage solar power projects, including those in construction, was approximately 2.3 GWp." Dr. Huifeng Chang, Senior Vice President and Chief Financial Officer of Canadian Solar commented, "We are encouraged by our success in monetizing our solar power plants globally. During the quarter, we completed the sale of the 28 MWp Gaskell West 1 project to Southern Power, sold 142 MWp of solar power plants in the U.K. to Greencoat and sold three solar power plants in the U.S., totaling 309 MWp to KEPCO. Gross margin was in line with our guidance in the range of 10.0% to 12.0%, as we absorbed the impact of the lower margin solar power plants sales in the U.S. and higher than expected purchase prices for raw materials used in module manufacturing. We are working to secure approval for the sale of three other U.S. solar power plants totaling 399 MWp. All together our actions have strengthened our balance sheet and allow us to redeploy our capital to support the profitable growth of our business and build value for shareholders." Utility-Scale Solar Project Pipeline The Company divides its utility-scale solar project pipeline into two categories: an early-to-mid-stage pipeline and a late-stage pipeline. The late-stage pipeline primarily includes projects that have energy off-take agreements and are expected to be built within the next two to four years. The Company cautions that some late-stage projects may not reach completion due to risks such as failure to secure permits and grid connection, among other risk factors. Late-Stage Utility-Scale Solar Project Pipeline As of April 30, 2018, the Company's late-stage utility-scale solar project pipeline, including those in construction, totaled approximately 2.3 GWp, including 459 MWp in the U.S., 435.7 MWp in Mexico, 422.5 MWp in China, 351.3 MWp in Japan, 499.2 MWp in Brazil, 97.6 in Argentina, 24 MWp in India, 24.2 MWp in Australia, 18.4 MWp in Chile and 8 MWp in South Korea. In the United States , as of April 30, 2018, the Company's late-stage, utility-scale solar project pipeline is detailed in the table below. Project MWp Location Status Expected COD Mustang Two 210 California Development 2020 Gaskell West 2 147 California Development 2020 NC102 102 North Carolina Construction 2018 Total 459 In Japan, as of April 30, 2018, the Company's late-stage, utility-scale solar project pipeline for which interconnection agreements and feed-in tarrif ("FIT") have been secured totaled approximately 351.3 MWp, 122.7 MWp of which are under construction and 228.6 MWp of which are under development. The Company has an additional 9.4 MWp of projects in the bidding process, which will be added to the list of late-stage projects once FIT has been secured. In January 2018, the Company achieved commercial operation ("COD") on a 1 MWp solar power project. The table below sets forth the expected COD schedule of the Company's late-stage utility-scale solar power projects in Japan, as of April 30, 2018: Expected COD Schedule (MWp ) 2018 2019 2020 2021 and Thereafter Total 72.7 97.5 45.3 135.8 351.3 In Brazil, as of April 30, 2018, the Company's late-stage, utility-scale solar project pipeline is detailed in the table below. Project MWp Location Status Expected COD Pirapora II 23 (1) Minas Gerais Construction 2018 Francisco Sa 122.2 Ceara Development 2021 Jaiba 97.3 Minas Gerais Development 2021 Lavras 144.7 Minas Gerais Development 2021 Salgueiro 112 Pernambuco Development 2020 Total 499.2 Note : (1) 23 MWp represents the Company's 20% equity interest in 115 MWp Pirapora II. In Brazil's A-4 auction held on April 4, 2018, the Company won three solar power projects totaling 364.2 MWp. The projects have been awarded 20-year power purchase agreements with an average price of 118.15 BRL/MWh (approximately US$35.58/MWh). The Company will develop and build the projects and expects to bring them to COD in 2021. In April 2018, the Company completed the sale of its interest in the 80.6 MWp Guimarania solar energy project in Brazil to Global Power Generation, a subsidiary of the Spanish energy group Gas Natural Fenosa. In Mexico, as of April 30, 2018, the Company's late-stage, utility-scale solar project pipeline is detailed in the table below. Project MWp Location Status Expected COD EL Mayo 124 Sonora Development 2020 Horus 119 Aguascalientes Development 2020 Tastiota 125 Sonora Development 2020 Aguascalientes 67.7 Aguascalientes Construction 2018 Total 435.7 In China, as of April 30, 2018, the Company's late-stage, utility-scale power pipeline totaled 422.5 MWp. Solar Power Plants in Operation In addition to its late-stage utility-scale solar project pipeline, as of April 30, 2018, the Company's portfolio of utility-scale, solar power plants in operation totaled 947.9 MWp. The plants are recorded on the Company's balance sheet as "project assets", "assets held-for-sale" and "solar power systems, net". Revenue from the sale of electricity generated by the plants recorded as "assets held-for-sale" and "solar power systems, net" totaled $2.6 million in the first quarter of 2018, compared to $4.7 million in the fourth quarter of 2017. The sequential decrease reflects a reduction in the number of plants in operation as of April 30, 2018, compared to February 28, 2018. The sale of projects recorded as "project assets" (build to sell) on the balance sheet will be recorded as revenue once revenue recognition criteria are met, and the gain from the sale of projects recorded as "assets held-for-sale" and "solar power systems, net" (build to own) on the balance sheet will be recorded within "other operating income (expenses)" in the income statement. The table below sets forth the Company's total portfolio of utility-scale, solar power plants in operation, as of April 30, 2018: U.S. Japan Brazil China India Others Total 499 85.6 56.8 148.1 126.1 32.3 947.9 Manufacturing Capacity Subject to market conditions, the Company plans to expand its ingot, wafer, cell and module capacities by December 31, 2018 to 2.0 GW, 5.0 GW, 7.05 GW and 9.91 GW, respectively. Manufacturing Capacity Roadmap (MW) 31-Dec-17 30-Jun-18 31-Dec-18 Ingot 1,200 1,620 2,000 Wafer 5,000 5,000 5,000 Cell 5,450 5,450 7,050 Module 8,110 8,310 9,910 All of the Company's wafer manufacturing capacity uses diamond wire-saw technology. Diamond wire-saw technology is compatible with the Company's proprietary and highly efficient black silicon multi-crystalline solar cell technology, thereby reducing silicon usage and manufacturing cost. Business Outlook The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book and the global financing environment. It is also subject to uncertainty relating to final customer demand and solar project construction and sale schedules. Management's views and estimates are subject to change without notice. For the second quarter of 2018, the Company expects total solar module shipments to be in the range of approximately 1.50 GW to 1.60 GW, including approximately 100 MW of shipments to the Company's utility-scale, solar power projects that may not be recognized as revenue in second quarter 2018. Total revenue for the second quarter of 2018 is expected to be in the range of $690 million to $730 million. Gross margin for the second quarter is expected to be between 20.0% and 22.0%. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "We expect a shift in global demand to developing markets to offset China, India and the U.S. We also expect demand in other markets to improve, including Europe, Africa, Argentina and Mexico. These trends align themselves with the Company's global footprint and should serve as a catalyst for continued growth." Recent Developments On May 14, 2018, Canadian Solar announced that it had acquired exclusive rights to an 8 MW greenfield development project portfolio in South Korea that is expected to start construction by early 2019. On April 27, 2018, Canadian Solar announced it had signed an agreement with Global Investment Holdings to develop and operate a pipeline of solar power projects with total capacity of up to 300 MWp in Europe, Middle East and Africa. Canadian Solar will provide engineering, procurement and construction for, and operating and maintenance services to, the projects. On April 16, 2018, Canadian Solar announced it had completed the sale of its interest in the 80.6 MWp Guimarania solar energy project in Brazil to Global Power Generation, a subsidiary of Spanish energy group Gas Natural Fenosa. On April 10, 2018, Canadian Solar announced that it had won three solar photovoltaic projects totaling 364 MWp in Brazil. The projects have been awarded 20-year power purchase agreements with an average price of 118.15 BRL/MWh (approximately $35.58/MWh). On March 29, 2018, Canadian Solar announced that it had acquired a 97.6 MWp solar photovoltaic project in Cafayate, Salta Province, Argentina. The project received a USD denominated 20-year power purchase agreement at $56.28/MWh. On March 14, 2018, Canadian Solar announced that it had successfully started commercial operation of a 6 MWp solar power plant in Keetmanshoop, Namibia. On March 13, 2018, Canadian Solar announced that its wholly-owned subsidiary, Recurrent Energy, had completed the sale of its interests in three solar power plants -- Astoria (100 MWac/131 MWp), Astoria 2 (75 MWac/100 MWp), and Barren Ridge (60 MWac/78 MWp) projects -- totaling 235 MWac/309 MWp to KEPCO, South Korea's largest electric utility. Conference Call Information The Company will hold a conference call at 8:00 a.m. U.S. Eastern Daylight Time on May 16, 2018 (8:00 p.m., May 16, 2018 in Hong Kong) to discuss the Company's first quarter 2018 results and business outlook. The dial-in phone number for the live audio call is +1-866-519-4004 (toll-free from the U.S.), +852-3018-6771 (local dial-in from HK) or +1-845-675-0437 (from international locations). The passcode for the call is 7789205. A live webcast of the conference call will also be available on the Investor Relations section of Canadian Solar's website at www.canadiansolar.com . A replay of the call will be available 2 hours after the conclusion of the call until 9:00 a.m. U.S. Eastern Daylight Time on Thursday, May 24, 2018 (9:00 p.m., May 24, 2018 in Hong Kong) and can be accessed by dialing +1-855-452-5696 (toll-free from the U.S.), +852-3051-2780 (local dial-in from HK) or +1-646-254-3697 (from international locations), with passcode 7789205. A webcast replay will also be available on the investor relations section of Canadian Solar's at www.canadiansolar.com . About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 17 years, Canadian Solar has successfully delivered over 27GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com . Safe Harbor/Forward-Looking Statements Certain statements in this press release regarding the Company's expected future shipment volumes, gross margins are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 26, 2018. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law. FINANCIAL TABLES FOLLOW Canadian Solar Inc. Unaudited Condensed Consolidated Statement of Operations (In Thousands of US Dollars, Except Share And Per Share Data And Unless Otherwise Stated) Three Months Ended March 31 December 31 March 31 2018 2017 2017 Net revenues $ 1,424,911 $ 1,108,764 $ 677,042 Cost of revenues 1,280,965 890,211 585,636 Gross profit 143,946 218,553 91,406 Operating expenses: Selling expenses 42,331 39,935 33,941 General and administrative expenses 48,775 69,650 55,070 Research and development expenses 9,499 8,564 5,624 Other operating income (34,906) (29,756) (898) Total operating expenses 65,699 88,393 93,737 Income (loss) from operations 78,247 130,160 (2,331) Other income (expenses): Interest expense (29,594) (33,487) (24,111) Interest income 3,576 3,180 2,522 Gain (loss) on change in fair value of derivatives 4,474 7,565 (7,752) Foreign exchange gain (loss) (8,456) (9,541) 14,214 Investment loss - (3,607) - Other expenses, net (30,000) (35,890) (15,127) Income (loss) before income taxes and equity in earnings (loss) of unconsolidated investees 48,247 94,270 (17,458) Income tax (expense) benefit (4,092) (28,940) 3,109 Equity in earnings (loss) of unconsolidated investees (269) (2,550) 606 Net income (loss) 43,886 62,780 (13,743) Less: Net income (loss) attributable to non-controlling interests 509 1,378 (408) Net income (loss) attributable to Canadian Solar Inc. $ 43,377 $ 61,402 $ (13,335) Earnings (loss) per share - basic $ 0.74 $ 1.05 $ (0.23) Shares used in computation - basic 58,553,622 58,486,391 57,832,572 Earnings (loss) per share - diluted $ 0.72 $ 1.01 $ (0.23) Shares used in computation - diluted 61,952,777 61,936,162 57,832,572 Canadian Solar Inc. Unaudited Condensed Consolidated Statement of Comprehensive Income (In Thousands of US Dollars) Three Months Ended March 31 December 31 March 31 2018 2017 2017 Net Income (loss) 43,886 62,780 (13,743) Other comprehensive income (net of tax of nil): Foreign currency translation adjustment 23,181 3,395 8,929 Gain on changes in fair value of derivatives 5,128 296 1,681 Comprehensive income (loss) 72,195 66,471 (3,133) Less: comprehensive income (loss) attributable to non-controlling interests 3,500 2,034 (2,438) Comprehensive income (loss) attributable to Canadian Solar Inc. 68,695 64,437 (695) Canadian Solar Inc. Unaudited Condensed Consolidated Balance Sheet (In Thousands of US Dollars) March 31, December 31, 2018 2017 ASSETS Current assets: Cash and cash equivalents $ 567,350 $ 561,679 Restricted cash - current 613,410 617,761 Accounts receivable trade, net 354,333 358,091 Contract assets 1,227 1,253 Amounts due from related parties 16,194 26,102 Inventories 414,090 346,092 Value added tax recoverable 88,045 94,503 Advances to suppliers - current 66,090 61,399 Derivative assets - current 23,023 16,200 Project assets - current 958,759 1,523,342 Assets held-for-sale 13,812 182,797 Prepaid expenses and other current assets 296,574 296,084 Total current assets 3,412,907 4,085,303 Restricted cash - non-current 11,026 10,695 Property, plant and equipment, net 790,662 747,235 Solar power systems, net 63,144 63,964 Deferred tax assets, net 134,971 131,796 Advances to suppliers - non-current 58,959 38,325 Prepaid land use right 91,368 78,649 Investments in affiliates 414,839 414,215 Intangible assets, net 11,409 10,986 Goodwill 4,061 6,248 Derivatives assets - non-current 11,587 10,911 Project assets - non-current 165,887 148,170 Other non-current assets 128,854 143,130 TOTAL ASSETS $ 5,299,674 $ 5,889,627 Current liabilities: Short-term borrowings $ 1,857,575 $ 1,957,755 Accounts and notes payable 914,022 975,595 Amounts due to related parties 16,687 6,023 Other payables 294,626 315,321 Convertible notes 126,712 - Advances from customers 52,587 51,739 Derivative liabilities - current 6,353 6,121 Liabilities held-for-sale 569 185,872 Financing liabilities-current 154,698 407,683 Other current liabilities 196,365 201,903 Total current liabilities 3,620,194 4,108,012 Accrued warranty costs 60,214 55,659 Convertible notes - 126,476 Long-term borrowings 328,120 404,341 Amounts due to related parties 863 - Derivatives liabilities - non-current - 359 Liability for uncertain tax positions 8,097 9,264 Deferred tax liabilities - non-current 5,737 5,562 Loss contingency accruals 26,466 25,682 Financing liabilities - non-current 30,597 12,243 Other non-current liabilities 75,850 82,254 Total LIABILITIES 4,156,138 4,829,852 Equity: Common shares 702,311 702,162 Additional paid-in capital 2,480 417 Retained earnings* 428,323 383,681 Accumulated other comprehensive loss (28,716) (54,034) Total Canadian Solar Inc. shareholders' equity 1,104,398 1,032,226 Non-controlling interests in subsidiaries 39,138 27,549 TOTAL EQUITY 1,143,536 1,059,775 TOTAL LIABILITIES AND EQUITY $ 5,299,674 $ 5,889,627 Note: * The Company, starting from January 1, 2018, adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. The reported results for year 2018 reflect the adoption of ASC 606, while the reported results for year 2017 were prepared under the previous revenue recognition guidance. The adoption of ASC 606 has no material impact on the revenue recognition for the first quarter of 2018. The cumulative-effect adjustment to the beginning balance of retained earnings on January 1, 2018 was an increase of $1.3 million from $383.7 million to $385.0 million, related to variable consideration recognized for project sales in year 2017. It has no impact on the Company's cash flows for the first quarter of 2018. View original content: http://www.prnewswire.com/news-releases/canadian-solar-reports-first-quarter-2018-results-300649409.html SOURCE Canadian Solar Inc.

http://www.cnbc.com/2018/05/16/pr-newswire-canadian-solar-reports-first-quarter-2018-results.html

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MOVES-Barclays hires Citigroup’s Clements, beefs up US CLO platform

May 11 (LPC) - Barclays has hired John Clements from Citigroup as head of US Collateralized Loan Obligation (CLO) origination and syndication, and made two other key hires as it beefs up its capabilities in the CLO space. Clements, who will be based in New York, will report to Drew Mogavero, head of US credit flow trading at Barclays, a bank spokesperson confirmed. He is slated to start in July. Barclays is looking to bolster its CLO team, not only bringing on Clements, but also hiring Mike Hopson and Lorraine Medvecky from Natixis to set up a new middle-market CLO platform, the spokesperson confirmed. They are also expected to join in July. The hires come as US CLO volume is up almost 43% this year through May 8 compared to the same period in 2017, with more than US$43bn of deals raised, according to Thomson Reuters LPC Collateral data. Citigroup is forecasting a record US$140bn of US CLO issuance this year. The funds are the largest buyers of leveraged loans, which companies including retailer Party City and American Airlines rely on for financing. Clements did not immediately return a message left on his cell phone seeking comment. A Citigroup spokesperson declined to comment. Barclays was the eighth largest arranger of US CLOs by volume, excluding refinancings and resets, in the first four months of the year, according to LPC Collateral data. Citigroup was the second largest. Clements has worked at Citigroup for almost 17 years, according to FINRA BrokerCheck. Clements departure was first reported by Asset-Backed Alert. (Reporting by Kristen Haunss Editing by Michelle Sierra)

https://www.reuters.com/article/barclays-cloclements/moves-barclays-hires-citigroups-clements-beefs-up-us-clo-platform-idUSL1N1SI247

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South Korea's LG Group chairman dies from illness at 73

The chairman of South Korea's LG Group, Koo Bon-moo, instrumental to transforming the country's fourth-largest conglomerate into a global brand, passed away on Sunday after a year-long battle with brain disease. LG Group said in a statement Koo, 73, had been ill for a year. A group official said Koo had been fighting a brain disease and had undergone surgery. The official declined to be named due to the sensitivity of the matter. "Becoming the third chairman of LG at the age of 50 in 1995, Koo established key three businesses - electronics, chemicals and telecommunications - led a global company LG, and contributed to driving (South Korea's) industrial competitiveness and national economic development," LG said. Under Koo's leadership, the conglomerate changed its corporate brand to LG from Lucky Goldstar and sold LG's semiconductor business to Hyundai, now SK Hynix Inc, under government-led restructuring in the wake of the Asia financial crisis in the late 1990s. Major affiliates are LG Electronics Inc, display maker LG Display and electric car battery maker LG Chem. Prior to its chairman's death, LG Group had established a holding company in order to streamline ownership structure and begin the process of succession. The country's powerful family-run conglomerates are implementing generational succession amid growing calls from the government and public to improve transparency and corporate governance. LG Corp, a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession. Heir apparent Koo Kwang-mo is from the fourth generation of LG Group's controlling family. He owns 6 percent of LG Corp and works as a senior official at LG Electronics. The senior Koo's younger brother, the group's vice chairman Koo Bon-joon, who led LG Electronics for many years, effectively managed the conglomerate in his stead. South Korean prosecutors said this month they raided LG Group's head office as part of a probe into alleged tax evasion by family members controlling the conglomerate. Analyst do not see a change at the helm being disruptive to the group's business. "Although Koo passed away at a relatively early age, his son has been already in a senior position and I don't think there will be a big change in governance structure or strategic decisions," said Park Ju-gun, head of corporate analysis firm CEO Score. The company said Koo's funeral would be held privately at the request of the family.

https://www.cnbc.com/2018/05/20/south-koreas-lg-group-chairman-dies-from-illness-at-73.html

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Dunkin' Brands Announces Board Authorization of $250 Million Share Repurchase Program

CANTON, Mass., May 22, 2018 /PRNewswire/ -- Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin' Donuts (DD) and Baskin-Robbins (BR), today announced that its Board of Directors has approved a new program for the repurchase of up to $250 million of the Company's common stock. "Our asset-light, fully franchised business model has allowed us to return over $2.65 billion to shareholders in the form of share repurchases and dividends since we became a public company in 2011," said Kate Jaspon, Chief Financial Officer, Dunkin' Brands. "This new authorization demonstrates our continued commitment to using our strong balance sheet to return capital to our shareholders." Repurchases under the new program may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The authorization is good for a period of two years. As previously announced, in February 2018, the Company entered into an agreement for the repurchase of an aggregate of $650 million of its outstanding common stock through an accelerated share repurchase program and received an initial delivery of approximately 8.5 million shares. Final settlement of the accelerated share repurchase program is expected to be completed in August 2018. The Company had approximately 83 million shares of common stock outstanding as of May 4, 2018. About Dunkin' Brands Group, Inc. With more than 20,000 points of distribution in more than 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq: DNKN) is one of the world's leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of the first quarter 2018, Dunkin' Brands' 100 percent franchised business model included more than 12,500 Dunkin' Donuts restaurants and more than 7,900 Baskin-Robbins restaurants. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass. Forward-Looking Statements This release contains projections and other within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Generally, these statements can be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "feel," "forecast," "intend," "may," "plan," "potential," "project," "should," "would," and similar expressions intended to identify , although not all contain these identifying words. By their nature, involve because they relate to events and depend on circumstances that may or may not occur in the future. These projections and statements reflect management's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the Company's periodic reports filed Commission. Except as required by applicable law, we do not undertake to publicly update or revise any of these , whether as a result of new information, future events or otherwise. View original content with multimedia: http://www.prnewswire.com/news-releases/dunkin-brands-announces-board-authorization-of-250-million-share-repurchase-program-300652581.html SOURCE Dunkin' Brands Group, Inc.

http://www.cnbc.com/2018/05/22/pr-newswire-dunkin-brands-announces-board-authorization-of-250-million-share-repurchase-program.html

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Investors see big oil surge, but physical markets suggest caution

NEW YORK/LONDON/SINGAPORE, May 15 (Reuters) - Oil futures prices have soared past three-year highs, OPEC's deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year. But physical markets for oil shipments tell a different story. Spot crude prices are at their steepest discounts to futures prices in years due to weak demand from refiners in China and a backlog of cargoes in Europe. Sellers are struggling to find buyers for West African, Russian and Kazakh cargoes, while pipeline bottlenecks trap supply in west Texas and Canada. The divergence is notable because traditionally, physical markets are viewed as a better gauge of short-term fundamentals. Crude traders who peddle cargoes to refineries worldwide say speculators are on shaky ground as they drive futures markets above $70 a barrel, their highest levels for three-and-a-half years, on concerns about tighter supply from Venezuela and the potential impact of U.S. sanctions on supply from Iran. Investors have piled millions of dollars in record wagers in the options market, betting on a further rally on the back of rising geopolitical tensions, particularly in Iran, Saudi Arabia and Venezuela, and the global decline in supply. "Guys who are trading futures have a view that draws are coming and big draws are coming," a U.S.-based crude trader at a global commodity merchant said, adding that demand could ramp up as global refinery maintenance ends. "Over the next few weeks, we should start to see markets globally clean up, but if that doesn't happen, I think we could be in trouble." A RISKY BET? Brent, the benchmark on which two-thirds of the world's oil is priced, has surpassed $78 a barrel, the highest since November 2014. U.S. crude futures hit a high just short of $72. Inventories in the developed world are now just 9 million barrels above the five-year average, down from 340 million barrels above the average in January 2017, after supply cuts by the Organization of the Petroleum Exporting Countries and other producers, including Russia. In the last few weeks, expectations that U.S. President Donald Trump would withdraw from the Iran nuclear agreement added to bullishness. Following Trump's announcement making good on that threat last week, prices surged further. Analysts estimate anywhere from 200,000 to 1 million bpd could be cut from global exports next year. "Any reduction in Iranian supply will likely exacerbate market deficits, suggesting upward pressure on pricing," wrote Greg Sharenow, PIMCO commodities portfolio manager, which sees oil surpassing $80 in the short term. In the weeks before Trump's decision, hedge funds and others piled a record number of bets into bullish crude oil options. Traders currently hold a record 21.3 million barrels worth of options that pay off if the December Brent contract hits $90 by late October. Bets that U.S. crude will hit $85 a barrel by mid-June are currently at a record above 14,000 contracts. These bets are being made due to strong demand, not just fear of political destabilization, said Scott Shelton, energy futures broker with ICAP in Durham, North Carolina. "The bigger picture of demand keeping up with supply...is much more important," Shelton said. BIG DISCONNECT Those on the front lines of the physical market are not convinced. Traders say the surge in U.S. exports to more than 2 million bpd has saturated some markets, leaving benchmark prices ripe for a correction. "There is a huge disconnect between futures and fundamentals," a trader with a Chinese independent refiner said. "I won't be surprised if prices correct by $20 a barrel." Increased U.S. competition has dented sales of oil from Nigeria and Azerbaijan, which produce similar quality oil and compete for buyers in Europe and Latin America. Physical prices have sunk even as benchmarks on which they are based stay buoyant. The strength of Brent crude, now trading at nearly $7 above U.S. futures <WTCLc1-LCOc1>, and $4 above Dubai, <DUB-EFS-1M> has made it hard to find buyers for grades priced off Brent. Russian Urals hit a seven-year discount against dated Brent <BFO-URL-NWE> while Kazakh CPC Blend <BFO-CPC> crashed to its weakest since mid-2012 this month. Separately, shipments of West African crude to Asia hit a five-month low in April due to a backlog at Chinese ports. Clogged pipelines have hit key U.S. oil grades, including in west Texas <WTC-WTM> <WTC-WTS>, where the discount to U.S. crude is near its widest in three years. Some are confident the world's refineries will gobble up these barrels when they finish seasonal maintenance. About 10 percent of China's refining capacity is expected to be offline through June. "For the last three, four, five months we've seen high turnarounds globally," a U.S. crude trader said, referencing maintenance works. "Once you get past that, all of a sudden (you're) looking at 3 million barrels per day of fresh crude consumption." But whether that is enough to support Brent at $80 and above is yet to be seen. "I think it's touch and go," he added. (Reporting by Devika Krishna Kumar in New York, Libby George in London and Florence Tan in Singapore; Additional reporting by Ayenat Mersie; Editing by Lisa Shumaker)

https://www.cnbc.com/2018/05/15/reuters-america-investors-see-big-oil-surge-but-physical-markets-suggest-caution.html

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UPDATE 1-Brazil's truckers protest drags on despite dispatch of military

UPDATE 1-Brazil's truckers protest drags on despite dispatch of military Flavia Bohone and Marcelo Teixeira Published 13 Hours Ago Reuters (Updates with police, federal forces actions to clear roads) SAO PAULO, May 26 (Reuters) - A truckers protest over diesel prices in Brazil that is hurting supplies of fuel, food and medicines continued for the sixth day on Saturday despite President Michel Temer ordering the military to clear blocked roads the day before. Major cities have declared a state of emergency as gas stations and airports ran out of fuel, supermarket shelves went bare and hospitals said they were running out of supplies. Public transport and trash collection were reduced or halted across the country and prices for some food items jumped. The government said there were fewer blockades on major highways across the country on Saturday compared to Friday. However, the main entity representing truckers, ABCAM, said they have not changed their main argument that they will call off protests only when federal taxes over diesel are scrapped. Later on Saturday, federal forces and police appeared to be gaining an edge on clearing some roads. They were escorting convoys with fuel and other products in some areas in the country, including the airport in the capital Brasilia. Negotiators for several trucker groups initially agreed on Thursday to suspend the protests as the government promised to subsidize and stabilize diesel prices, which may cost 5 billion reais ($1.4 billion) this year. But truckers say they want a definitive solution, that they will end the protest only when a decision to eliminate federal diesel taxes is published in the official gazette. Local TV showed footage overnight of federal forces being deployed to some critical areas to help police remove trucks from highways. There were no reports of violence, but main roads remained blocked in the morning. Some business sectors that depend on daily supplies were suffering. Lack of animal feed may cause the deaths of one billion birds and 20 million hogs, Brazilian meat group ABPA said, adding that more than 150 poultry and pork processing plants had indefinitely suspended production. Brazil's sugar industry, the world's largest, is slowly halting cane harvest operations as machines ran out of fuel. Blockades continue to prevent trucks from entering the port of Santos, Latin America's largest, and oilseeds crushing group Abiove said soy exports would halt on Saturday if truckers did not allow access to major ports. Auto production, which contributes about a quarter of Brazil's industrial output, ground to a halt on Friday. Authorities said even after roads are completely cleared, it would still take several days to normalize supplies. (Reporting by Flavia Bohone and Marcelo Teixeira Editing by Chizu Nomiyama and Susan Thomas)

https://www.cnbc.com/2018/05/26/reuters-america-update-1-brazils-truckers-protest-drags-on-despite-dispatch-of-military.html

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Cologix Appoints Industry Veteran Lisa Guillaume As Chief Marketing Officer

DENVER, May 14, 2018 /PRNewswire/ -- Cologix , a network neutral interconnection and data center company, announced today that Lisa Guillaume has joined the company as Chief Marketing Officer. In this role, she will lead the global product and marketing strategy for the Company. For the past two decades, Lisa has been on the forefront of the communications and technology industries with a strong background in networking, colocation, cloud, and SaaS. Her core responsibilities will include brand and corporate communications, go-to-market strategy, product portfolio management, and sales & channel enablement. "As we continue to focus on driving more growth and expansion throughout our business, there is not a more qualified leader than Lisa to lead product strategy and elevate our brand, and I am thrilled that she has joined our team," stated Grant van Rooyen, Chairman & CEO of Cologix. "Her impressive track record of building high-impact products coupled with her passion for the customer experience will play a critical role in our next step of innovation and growth." Prior to joining Cologix, Lisa served as Chief Product Officer for Relay Network, an enterprise SaaS provider for B2C mobile communications. Lisa has also held key leadership roles in product and marketing at Digital Globe, Level 3 Communications (now Century Link), Sterling Rice Group and operated a marketing and strategy consultancy firm primarily focused on the data center and colocation provider brand transformation. "Cologix has a uniquely compelling network and cloud connectivity story and a distinct competitive advantage in the markets we operate in," said Guillaume. "I look forward to working with our experienced team and driving product and marketing initiatives in order to continue the support and growth of our customers as well as continuing to build the robust ecosystems within our data centers." About Cologix Inc. Cologix provides reliable, secure, scalable data center and interconnection solutions from 25 prime interconnection locations across 9 strategic North American edge markets. Over 1,600 leading network, managed services, cloud, media, content, financial services and enterprise customers trust Cologix to support their business critical infrastructure and connect them to customers, vendors and partners. Our dedicated, experienced local teams and scalable solutions enable us to provide industry-leading customer service and the ability to successfully support customers at the Internet's new edge. For a tour of one of our data centers in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, New Jersey, Toronto or Vancouver visit www.cologix.com or email sales@cologix.com . Follow Cologix on LinkedIn and Twitter . View original content with multimedia: http://www.prnewswire.com/news-releases/cologix-appoints-industry-veteran-lisa-guillaume-as-chief-marketing-officer-300647577.html SOURCE Cologix

http://www.cnbc.com/2018/05/14/pr-newswire-cologix-appoints-industry-veteran-lisa-guillaume-as-chief-marketing-officer.html

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Quantum Retail Technology, Inc. Announces Acquisition of Symphony Commerce

AUSTIN, Texas, May 17, 2018 /PRNewswire/ -- Quantum Retail Technology, Inc. announced today the acquisition of San Francisco-based, leading Commerce-as-a-Service provider, Symphony Commerce, Inc. Quantum Retail is an affiliate of Versata, which is part of the ESW Capital group of companies, one of the largest privately held enterprise software companies in the world. ESW Capital's strategy is to acquire best-of-breed software solutions, which possess the potential for further growth through increased investment and an obsessive focus on Customer Success. Symphony Commerce is the leading provider of Commerce as a Service and was created by the visionary and technical team behind Amazon's ordering and fulfillment systems. Trusted by enterprise and mid-size brands in the fashion and apparel, durables and consumer packaged goods segments, its cloud platform orchestrates commerce across multi-channel storefronts, orders, inventory and fulfillment. With Symphony Commerce, brands are free from the burden of infrastructure management and gain the data and services needed to operate and grow their business. "I am excited about the opportunity to integrate Symphony's commerce platform with Quantum Retail's supply chain and inventory optimization. Our brands will benefit from the end-to-end intelligent commerce," said Ken Fine, Symphony Commerce CEO. Leela Kaza, CEO of Quantum Retail and longtime veteran of Versata and its parent company, ESW Capital, will assume the role of CEO for Symphony Commerce. "I am pleased to welcome the Symphony Commerce brand into the Versata family and broader ESW Capital group of companies. We are confident that the addition of Quantum's advanced retail science to the Symphony Platform will offer our customers unprecedented value and competitive advantage," said Kaza. About Quantum Retail Technology, Inc.: Quantum Retail Technology is the industry's leading innovator of retail-focused supply chain management and inventory optimization solutions. Our retail platform software is designed to increase retailer's profitability in an increasingly dynamic marketplace. Quantum clients include many of the world's top retailers. For more information, visit www.quantumretail.com . About Versata: With a global presence covering 45 countries, Versata solves complex business problems for the world's largest organizations. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Our market-leading Customer Success program ensures customer involvement in product decisions and business priorities and provides opportunities for customers to score Versata's performance against commitments. Versata's world-class engineering capability ensures substantive and valuable product releases, continuous innovation and repeatable value propositions. For more information, visit www.versata.com . About ESW Capital, LLC: Based in Austin, Texas, Enterprise Software (ESW) Capital has honed a finely-tuned methodology focused on buying, strengthening and growing mature business software companies. By taking advantage of its unique operating and development platforms, ESW revitalizes its acquisitions for sustainable success while making customer satisfaction a top priority. ESW and its affiliated companies have been in the enterprise software space since 1988, and the group includes notable brands such as Aurea, Trilogy, Versata and Ignite Technologies. For more information, visit www.eswcapital.com . View original content: http://www.prnewswire.com/news-releases/quantum-retail-technology-inc-announces-acquisition-of-symphony-commerce-300650817.html SOURCE Quantum Retail Technology, Inc.

http://www.cnbc.com/2018/05/17/pr-newswire-quantum-retail-technology-inc-announces-acquisition-of-symphony-commerce.html

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Tesla seeks to dismiss securities fraud lawsuit: US court document

Materials and Metals Tesla seeks to dismiss securities fraud lawsuit: US court document In a filing in federal court in San Francisco, Tesla said that its statements about the challenges the company faced with Model 3 were "frank and in plain language." Tesla did not seek to hide the truth, its motion to dismiss said. Published 7 Hours Ago Sean Gallup | Staff | Getty Images A Tesla electric-powered sedan stands at a Tesla charging station at a highway rest stop Tesla Inc on Friday asked a court to dismiss a securities fraud lawsuit by shareholders who said the electric vehicle maker gave false public statements about the progress of producing its new Model 3 sedan. In a filing in federal court in San Francisco, Tesla said that its statements about the challenges the company faced with Model 3 were "frank and in plain language," including repeated disclosures by Chief Executive Elon Musk of "production hell." Tesla did not seek to hide the truth, its motion to dismiss said. The company says its Model 3 has experienced numerous "bottlenecks" from problems with Tesla's battery module process at its Nevada Gigafactory to general assembly at its Fremont plant. Tesla is under pressure to deliver the Model 3 to reap revenue and stem massive spending that has put Tesla's finances in the red. The ramp of the Model 3, Tesla said in the court filing, was "the first of its kind," with difficulties likely to crop up after it got underway. The lawsuit filed last October seeks class action status for shareholders who bought Tesla stock between May 4, 2016 through October 6, 2017, inclusive. It said shareholders bought "artificially inflated" shares because Musk and other executives misled them with their statements. Tesla made such statements during the lead-up to, and early production of, its Model 3 sedan and failed to disclose that the company was "woefully unprepared" for the vehicle's production, the lawsuit said. A hearing is scheduled for August. The Tesla response chronicled disclosures of production bottlenecks the company faced in its third quarter of 2017 when it fell short of its targets. Tesla's statements that its Model 3 production was "on track" in May and August of 2017 - which plaintiffs argue were false - were made before production problems began to surface, Tesla argued. Tesla said its "good faith belief" in the Model 3 program is reflected in everything it has done: a $4 billion investment, the build-out of its Gigafactory battery factory in Nevada and the high-volume equipment it commissioned. Related Securities

https://www.cnbc.com/2018/05/26/tesla-seeks-to-dismiss-securities-fraud-lawsuit-us-court-document.html

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UMH Properties, Inc. Reports Results For The First Quarter Ended March 31, 2018

FREEHOLD, N.J., May 9, 2018 /PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH) reported Total Income for the quarter ended March 31, 2018 of $29,796,000 as compared to $26,449,000 for the quarter ended March 31, 2017, representing an increase of 13%. Net Loss Attributable to Common Shareholders amounted to $27,155,000 or $0.76 per diluted share for the quarter ended March 31, 2018 as compared to $1,504,000 or $0.05 per diluted share for the quarter ended March 31, 2017. This increase was due to the change in fair value of our marketable securities. Starting in 2018, unrealized gains or losses in value on securities holding are included in our operating numbers. Previously, these unrealized gains or losses were recognized in "Accumulated Other Comprehensive Income" on our Balance Sheet. At quarter end, the Company had net unrealized losses of $14,379,000 in its securities portfolio, resulting in a $25,899,000 total decrease in fair value for the quarter. Core Funds from Operations ("Core FFO"), was $6,355,000 or $0.18 per diluted share for the quarter ended March 31, 2018 as compared to $5,061,000 or $0.17 per diluted share for the quarter ended March 31, 2017, representing an increase in Core FFO per diluted share of 6%. Normalized Funds from Operations ("Normalized FFO"), was $6,335,000 or $0.18 per diluted share for the quarter ended March 31, 2018, as compared to $5,029,000 or $0.17 per diluted share for the quarter ended March 31, 2017, representing an increase in Normalized FFO per diluted share of 6%. A summary of significant financial information for the three months ended March 31, 2018 and 2017 is as follows: For the Three Months Ended March 31, 2018 2017 Total Income $ 29,796,000 $ 26,449,000 Total Expenses $ 25,492,000 $ 22,485,000 Dividend and Other Investment Income (Loss), net $ (23,454,000) $ 1,883,000 Net Loss Attributable to Common Shareholders $ (27,155,000) $ (1,504,000) Net Loss Attributable to Common Shareholders per Diluted Common Share $ (0.76) $ (0.05) Core FFO (1) $ 6,355,000 $ 5,061,000 Core FFO (1) per Diluted Common Share $ 0.18 $ 0.17 Normalized FFO (1) $ 6,335,000 $ 5,029,000 Normalized FFO (1) per Diluted Common Share $ 0.18 $ 0.17 Weighted Average Shares Outstanding 35,907,000 29,955,000 A summary of significant balance sheet information as of March 31, 2018 and December 31, 2017 is as follows: March 31, 2018 December 31, 2017 Gross Real Estate Investments $ 773,642,000 $ 764,439,000 Marketable Securities at Fair Value $ 113,344,000 $ 132,964,000 Total Assets $ 813,387,000 $ 823,881,000 Mortgages Payable, net $ 303,317,000 $ 304,895,000 Loans Payable, net $ 50,383,000 $ 84,704,000 Total Shareholders' Equity $ 446,549,000 $ 421,215,000 Samuel A. Landy, President and CEO, commented on the results of the first quarter of 2018. "We are pleased to announce another solid quarter of operating results and an excellent start to 2018. Our Normalized FFO for the quarter of $0.18 per diluted share fully covered our dividend. During the quarter, we: Increased Rental and Related Income by 11.2%; Increased Community Net Operating Income ("NOI") by 11.2%; Increased Same Property NOI by 5.4% Increased Same Property Occupancy by 140 basis points from 81.8% to 83.2%; Increased home sales by 31.7%; Increased our rental home portfolio by 165 homes to approximately 5,800 total rental homes, representing an increase of 17.7%; Increased rental home occupancy by 100 basis points from 93.7% to 94.7%; Reduced the weighted average interest rate on our mortgage debt from 4.4% to 4.2%; Maintained the weighted average interest rate on our total debt at 4.1%; Issued 2,000,000 shares of a new 6.375% Series D Cumulative Redeemable Preferred Stock, for net proceeds after deducting the underwriting discount and other estimated offering expenses, of approximately $48 million; Raised $10.1 million through our Dividend Reinvestment and Stock Purchase Plan; Reduced our Net Debt to Total Market Capitalization from 36.4% to 29.0% and our Net Debt Less Securities to Total Market Capitalization from 26.1% to 19.0%; and, Increased our total market capitalization to $1.1 billion, representing an increase of 8.5%." Mr. Landy stated, "Our positive results were driven by strong operating metrics. Our rental program remains the most efficient way to drive occupancy and earnings growth. During the quarter we added 165 rental homes to our communities. Our rental home portfolio now contains 5,772 homes with an occupancy rate of 94.7%." "Home sales have been improving and increased 32% this year. The positive demographic trends and robust labor market, combined with rising conventional home prices, should favor our industry and drive further demand for our homes." "Same Property NOI increased by 5.4% this year, driven by a 140 basis point increase in the occupancy rate and a 3.3% increase in our weighted average monthly site rent." "During the quarter, we also enhanced our liquidity by issuing 2,000,000 shares of a new 6.375% Series D Cumulative Redeemable Preferred Stock, for net proceeds, after deducting the underwriting discount and other estimated offering expenses, of approximately $48 million. We anticipate continued per share earnings accretion once this capital is fully deployed." "Starting in 2018, unrealized gains or losses in value on securities holding are included in our operating numbers. The REIT market has been under pressure thus far in 2018 losing approximately 10% in value. We view this as temporary and expect the value of the companies to better reflect their earnings and underlying property values." "We continue to execute on our business plan. We have a robust acquisition pipeline of approximately $75 million. We anticipate completing the acquisition of two of these communities, with a total of approximately 670 sites at a purchase price of $20 million, within the next few weeks. We look forward to building on the substantial progress we have made thus far." UMH Properties, Inc. will host its First Quarter 2018 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Thursday, May 10, 2018 at 10:00 a.m. Eastern Time. The Company's 2018 first quarter financial results being released herein will be available on the Company's website at www.umh.reit in the "Financial Information and Filings" section. To participate in the webcast , select the microphone icon found on the homepage www.umh.reit to access the call. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally). The replay of the conference call will be available at 12:00 p.m. Eastern Time on Thursday, May 10, 2018. It will be available until August 1, 2018 and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 10118610. A transcript of the call and the webcast replay will be available at the Company's website, www.umh.reit . UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 112 manufactured home communities containing approximately 20,000 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities. Certain statements included in this press release which are not historical facts may be deemed within the meaning of the Private Securities Litigation Reform Act of 1995. Any such are based on the Company's current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company's annual report on Form 10-K and described from time to time in the Company's other filings with the SEC. The Company undertakes no obligation to publicly update or revise any whether as a result of new information, future events, or otherwise. Note: (1) Non-GAAP Information: We assess and measure our overall operating results based upon an industry performance measure referred to as Funds From Operations ("FFO"), which management believes is a useful indicator of our operating performance. FFO is used by industry analysts and investors as a supplemental operating performance measure of a REIT. FFO, as defined by The National Association of Real Estate Investment Trusts ("NAREIT"), represents Net Income (Loss) Attributable to Common Shareholders, as defined by accounting principles generally accepted in the United States of America ("U.S. GAAP"), excluding extraordinary items, as defined under U.S. GAAP, gains or losses from sales of previously depreciated real estate assets, impairment charges related to depreciable real estate assets, plus certain non-cash items such as real estate asset depreciation and amortization. NAREIT created FFO as a non-U.S. GAAP supplemental measure of REIT operating performance. We define Core Funds From Operations ("Core FFO") as FFO plus costs of early extinguishment of debt, change in the fair value of marketable securities and costs associated with the redemption of preferred stock. We define Normalized Funds From Operations ("Normalized FFO") as Core FFO excluding gains and losses realized on marketable securities investments and certain non-recurring charges. We define Community NOI as rental and related income less community operating expenses such as real estate taxes, repairs and maintenance, community salaries, utilities, insurance and other expenses. FFO, Core FFO and Normalized FFO, as well as Community NOI, should be considered as supplemental measures of operating performance used by REITs. FFO, Core FFO and Normalized FFO exclude historical cost depreciation as an expense and may facilitate the comparison of REITs which have a different cost basis. However, other REITs may use different methodologies to calculate FFO, Core FFO, Normalized FFO and Community NOI and, accordingly, our FFO, Core FFO, Normalized FFO and Community NOI may not be comparable to all other REITs. The items excluded from FFO, Core FFO and Normalized FFO are significant components in understanding the Company's financial performance. FFO, Core FFO and Normalized FFO (i) do not represent Cash Flow from Operations as defined by U.S. GAAP; (ii) should not be considered as an alternative to net income (loss) as a measure of operating performance or to cash flows from operating, investing and financing activities; and (iii) are not alternatives to cash flow as a measure of liquidity. The reconciliation of the Company's U.S. GAAP net loss to the Company's FFO, Core FFO and Normalized FFO for the three months ended March 31, 2018 and 2017 are calculated as follows: Three Months Ended 3/31/18 3/31/17 Net Loss Attributable to Common Shareholders $(27,155,000) $(1,504,000) Depreciation Expense 7,595,000 6,540,000 Loss on Sales of Depreciable Assets 16,000 25,000 FFO Attributable to Common Shareholders (19,544,000) 5,061,000 Decrease in Fair Value of Marketable Securities 25,899,000 -0- Core FFO Attributable to Common Shareholders 6,355,000 5,061,000 Gain on Sales of Marketable Securities, net (20,000) (32,000) Normalized FFO Attributable to Common Shareholders $6,335,000 $5,029,000 The diluted weighted shares outstanding used in the calculation of Core FFO per Diluted Common Share and Normalized FFO per Diluted Common Share were 36,195,000 shares for the three months ended March 31, 2018, and 30,427,000 for the three months ended March 31, 2017, respectively. Common stock equivalents resulting from stock options in the amount of 288,000 shares for the three months ended March 31, 2018, and 472,000 shares for the three months ended March 31, 2017, are included in the diluted weighted shares outstanding. Common stock equivalents were excluded from the computation of the Diluted Net Loss per Share as their effect would be anti-dilutive. The following are the cash flows provided (used) by operating, investing and financing activities for the three months ended March 31, 2018 and 2017: 2018 2017 Operating Activities $10,290,000 $11,626,000 Investing Activities (17,472,000) (49,618,000) Financing Activities 11,205,000 43,368,000 View original content: http://www.prnewswire.com/news-releases/umh-properties-inc-reports-results-for-the-first-quarter-ended-march-31-2018-300645765.html SOURCE UMH Properties, Inc.

http://www.cnbc.com/2018/05/09/pr-newswire-umh-properties-inc-reports-results-for-the-first-quarter-ended-march-31-2018.html

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International Tower Hill Mines Files 2018 First Quarter Financial Results

/THIS NEWS RELEASE IS NOT, AND IS NOT TO BE CONSTRUED IN ANY WAY AS, AN OFFER TO BUY OR SELL SECURITIES IN THE UNITED STATES./ VANCOUVER, May 4, 2018 /PRNewswire/ - International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM) today announced that it has filed its unaudited first quarter Financial Statements and associated Management Discussion and Analysis and Quarterly Report on Form 10-Q for the three-month period ended March 31, 2018. As of March 31, 2018, the Company had working capital of $13.0 million. Shareholders can obtain copies of the Company's unaudited first quarter Financial Statements and associated Management Discussion and Analysis and Form 10-Q on SEDAR at: www.sedar.com , EDGAR at www.sec.gov and on the Company's website at: www.ithmines.com . The Company will also provide hard copies of these documents, free of charge, to shareholders who request a copy directly from the Company. Stock Option Plan Burn Rate Under rules recently adopted by the Toronto Stock Exchange, listed issuers are required to disclose the burn rate under security based compensation arrangements on an annual basis. The annual burn rate for the Company's 2006 Incentive Stock Option (the "Stock Option Plan"), calculated in accordance with Section 613(p) of the TSX Company Manual, was 0.15% in fiscal 2017, 0% in fiscal 2016 and 1.84% in fiscal 2015. The burn rate for a fiscal year is calculated by dividing the number of options granted under the Stock Option Plan during the year by the weighted average number of common shares outstanding for such year. About International Tower Hill Mines Ltd. International Tower Hill Mines Ltd. controls 100% of the Livengood Gold Project located along the paved Elliott Highway, 70 miles north of Fairbanks, Alaska. On behalf of International Tower Hill Mines Ltd. (signed) Karl L. Hanneman Chief Executive Officer View original content: http://www.prnewswire.com/news-releases/international-tower-hill-mines-files-2018-first-quarter-financial-results-300642977.html SOURCE International Tower Hill Mines Ltd.

http://www.cnbc.com/2018/05/04/pr-newswire-international-tower-hill-mines-files-2018-first-quarter-financial-results.html

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UPDATE 2-North Korea details plans to dismantle nuclear 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 (Adds details, expert comment) SEOUL/WASHINGTON, May 12 (Reuters) - North Korea has scheduled the dismantlement of its nuclear test site for sometime between May 23 and 25, depending on weather conditions, in order to uphold its pledge to discontinue nuclear tests, the country's state media reported on Saturday. 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. The announcement comes after U.S. President Donald Trump said he would hold a summit with North Korea's leader Kim Jong Un 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 North Korea can look forward to "a future brimming with peace and prosperity" if it agrees to quickly give up its nuclear weapons. 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". To accommodate the travelling journalists, North Korea said various measures would be taken including "opening territorial air space". All international journalists would be provided with a charter flight into Wonsan, a port city in eastern North Korea, from Beijing, KCNA said. There, reporters will board a charter train to the nuclear test ground in an "uninhabited deep mountain area". NO MENTION OF EXPERTS South Korean officials said in April 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 Korea's Yonhap news agency said South Korean President Moon Jae-in had asked the United Nations to help verify the shutdown. All of North Korea's six known nuclear tests have taken place at Punggye-ri, in the northeastern part of North Korea where a system of tunnels have been dug under Mount Mantap. Last month Trump welcomed Pyongyang's announcement that it planned to close Punggye-ri. Experts have said the pledge was a big step forward but verifying it will be difficult. 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 Editing by Alexander Smith and susan Thomas)

https://www.cnbc.com/2018/05/12/reuters-america-update-2-north-korea-details-plans-to-dismantle-nuclear-test-site.html

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Trade truce with China could boost US beef, soybeans and other agriculture products

Asia Trade truce with China could boost US beef, soybeans and other agriculture products Over the weekend, the U.S. and China issued a joint statement stating that both "agreed on meaningful increases in United States agriculture and energy exports," bringing temporary relief to a heated trade dispute. "We estimate a potential increase of US$60-90bn in Chinese purchases of US goods, with a rise in agriculture imports (particularly beef) in the near term," Morgan Stanley said in a note Sunday. Gregory Husisian, chair of the international trade & national security group at Foley & Lardner, expects agriculture products on a list of 106 U.S. goods targeted by Beijing will be the Trump administration's focus in negotiating details on trade with China. CNBC.com Charlie Neibergall | AP Terry Morrison of Earlham, Iowa, watches as soybeans are loaded into his trailer at the Heartland Co-op, Thursday, April 5, 2018, in Redfield, Iowa. American beef, corn and soybeans could benefit the most from the latest trade agreements between the U.S. and China. Over the weekend, the two countries issued a joint statement stating that both "agreed on meaningful increases in United States agriculture and energy exports," bringing temporary relief to a heated trade dispute. While analysts said the agreement isn't specific enough to have immediate economic impact, some noted key areas in which American farmers would likely benefit. "We estimate a potential increase of US$60-90bn in Chinese purchases of US goods, with a rise in agriculture imports (particularly beef) in the near term," Morgan Stanley Economist Robin Xing, Strategist Michael Zezas and their team said in a note Sunday. China reopened its market to U.S. beef in June 2017 for the first time in 14 years after negotiations earlier in the year between the Trump administration and Beijing. Chinese imports of beef globally increased more than nine-fold between 2012 and 2016, to $2.5 billion, according to the U.S. Department of Agriculture. "Once [our Chinese distributors] get it they can't sell it fast enough. We can't supply them with enough beef right now," said Kent Bacus, director of international trade at the National Cattlemen's Beef Association. Beef accounts for six specific items on China's list of 106 U.S. goods that Beijing announced additional tariffs on in early April, in retaliation against the Trump administration's proposed tariffs on $50 billion worth of Chinese goods. Other items on the list include soybeans, corn and wheat. China has "agriculture products on there to get attention and to inflict pain on key constituencies in the U.S.," said Gregory Husisian, chair of the international trade & national security group at Foley & Lardner. As a result, he expects the items targeted by Beijing will be the Trump administration's focus in negotiating details on trade with Beijing. Agriculture overall is strategically a key area for Beijing to work with the U.S. China is the second largest destination for U.S. agriculture exports, at $19.6 billion in 2017, according to the U.S. Department of Agriculture Foreign Agricultural Service. It's an area in which "China can quickly show results," Husisian said. "They could just shift purchases from Europe or other countries fairly easily. From their perspective it represents one that doesn't really require them to do that much." China has made some concessions on agriculture already. Beijing said Friday it was ending an investigation into imports of U.S. sorghum. The probe had effectively halted trade worth roughly $1.1 billion in 2017. Further agreements on U.S. agriculture exports will need similar specifics on product type and amount for a deal to be economically effective, analysts said. Even in the growing beef market, Bacus said Chinese restrictions on imports of the meat injected with hormones or fed "beta-agonists" makes it difficult for U.S. exporters. "We are not anywhere close to reaching our potential in that market," Bacus said. President Donald Trump does appear focused on improving the trade environment for U.S. agriculture. He focused two of his tweets Monday on the weekend trade deal on the industry: "Under our potential deal with China, they will purchase from our Great American Farmers practically as much as our Farmers can produce," Trump tweeted. "There's a relief for American farmers here because we were headed towards a situation where the Chinese were going to block imports of U.S. goods," said Derek Scissors, resident scholar at the American Enterprise Institute and chief economist at the China Beige Book. However, the latest developments are just "a restoration of the status quo." "If you're playing defense, you're trying to protect the soybean trade. If you're playing offense" you will name a particular product, Scissors said. "The test is whether we're going to get specific goods being mentioned."

https://www.cnbc.com/2018/05/21/trade-truce-with-china-could-boost-us-beef-soybeans-and-other-agriculture-products.html

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Senator Rubio says US workers get little benefit from tax reform: Report

Taxes Senator Rubio says US workers get little benefit from tax reform: Report Republican U.S. Senator Marco Rubio told the Economist magazine there is "no evidence whatsoever" the tax law significantly helped American workers. The tax overhaul permanently cut the top corporate rate to 21 percent from 35 percent. Tax cuts for individuals, however, are temporary and expire after 2025. Published 2 Hours Ago Getty Images Sen. Marco Rubio (R-FL) Republican U.S. Senator Marco Rubio , in a move that may undercut his party's message about the recent tax overhaul ahead of the 2018 midterm elections, told the Economist magazine there is "no evidence whatsoever" the law significantly helped American workers. "There is still a lot of thinking on the right that if big corporations are happy, they're going to take the money they're saving and reinvest it in American workers," Rubio said in the interview published Thursday . "In fact, they bought back shares, a few gave out bonuses; there's no evidence whatsoever that the money's been massively poured back into the American worker." The tax overhaul, which sailed through the Republican-controlled U.S. Congress in December without Democratic support, permanently cut the top corporate rate to 21 percent from 35 percent. Tax cuts for individuals, however, are temporary and expire after 2025. Republicans, including President Donald Trump , have said their tax overhaul will lead to more take-home pay for workers and have touted the bonuses some workers received from their employers as evidence the law is working. Rubio voted for the proposal even though he had lobbied party leaders for a larger child tax credit. Rubio's staff did not deny he made the statement. "Senator Rubio pushed for a better balance in the tax law between tax cuts for big businesses and families, as he's done for years. As he said when the tax law passed, cutting the corporate tax rate will make America a more competitive place to do business, but he tried to balance that with an even larger child tax credit for working Americans," Rubio spokeswoman Olivia Perez-Cubas said in an email. The tax law is Republicans' only significant legislative achievement since Trump took office as they head into the midterms, when all 435 seats in the U.S. House of Representatives and about a third of the 100-member Senate's seats are being contested. The nonpartisan Congressional Budget Office said earlier this month that the tax bill, as written, is projected to add $1.9 trillion to the national debt over the next decade.

https://www.cnbc.com/2018/05/01/senator-rubio-says-us-workers-get-little-benefit-from-tax-reform-report.html

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Goldman aims to preserve pre- culture, even as partnership dwindles

WASHINGTON, May 15 (Reuters) - Goldman Sachs Group Inc has launched a global training initiative to safeguard the tight-knit culture it developed as a private partnership, even as the bank marks its 19th year as a publicly traded company. Bank leaders, including Chief Executive Officer Lloyd Blankfein and his deputy, Chief Operating Officer David Solomon, have been anchoring 2-1/2-hour sessions with managers across the globe since September, focused on improving culture and employee conduct, executives involved with the effort told Thomson Reuters Regulatory Intelligence. Since the 2007-2009 financial crisis, regulators have put a strong emphasis on improving corporate culture and employee behavior in a bid to reduce risk across the system. Some 2,500 employees are expected to participate in the mandatory exercise known internally as the Chairman's Forum by the time it concludes later this year, the executives said. The sessions recreate everyday workplace scenarios to encourage senior staff to think about how they should behave when faced with tough decisions and conflict, including with respect to client transactions. Stephen Scherr, CEO of Goldman Sachs Bank USA, which houses the bank's consumer and corporate lending businesses, has led two of the gatherings so far. Instilling uniform cultural values has gotten more difficult as Goldman has grown from the private firm with 5,000 employees Scherr joined in 1993 to the global banking institution with 30,000 employees that it is today, he said. When I look back over 25 years, I don't think the themes that are being covered in these more organized sessions are frankly very different than those that were pervasive early on, said Scherr. What has changed is that at a purely practical level we're a much bigger organization. Goldman Sachs listed on the New York Stock Exchange in May 1999. The bank has maintained its partnership program, but partners now represent less than 2 percent of total staff. Goldman took a hard look at its culture following the financial crisis, when its image was tainted by claims it misled investors over profitable mortgage trades and a former employee who wrote a book accusing bank executives of calling clients muppets. (http://reut.rs/TKAIjb) Following that review, an internal committee released a report in 2013 reiterating a set of core business principles established by former CEO John Whitehead that focused on integrity, trust and putting clients first. (http://reut.rs/122nCbB) The training sessions build on that effort, especially as Blankfein enters his 13th year as CEO and prepares to eventually hand the reins over to Solomon. Goldman executives said they are trying to make the training sessions relevant to real situations managers encounter. Sessions begin with video case studies that lead to interactive group discussions. Blankfein makes an appearance at the start of each session by video, telling managers to foster a culture in which employees see it their "individual responsibility to raise issues that they are worried about." (Reporting by Henry Engler of Thomson Reuters Regulatory Intelligence. An earlier version of this article first appeared in Regulatory Intelligence. Editing by Michelle Price and Meredith Mazzilli)

https://www.cnbc.com/2018/05/16/reuters-america-goldman-aims-to-preserve-pre-ipo-culture-even-as-partnership-dwindles.html

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FACTBOX-IPOs cancelled in Europe, Middle East and Africa

LONDON/FRANKFURT, May 10 (Reuters) - The following previously announced initial public offerings (IPOs) have been cancelled or postponed in Europe, Middle East and Africa so far this year, Thomson Reuters data as of May 10, 2018 shows: MAY * Property manager Azora Altus postponed listing on Spanish stock exchange amid uncertainty arising from Blackstone's bid for its Hispania real-estate business * German publisher Springer Nature cancelled 3.2 billion euro ($3.80 billion) stock market flotation, citing weak investor demand * British vaping liquids manufacturer Supreme postponed London listing, citing market conditions * Turkish clothing retailer DeFacto cancelled IPO, citing low demand due to recent emerging market volatility * Italian textile machinery group Itema said it would not go ahead with IPO, citing market conditions * Turkish clothing retailer Boyner Perakende said its board had decided to cancel IPO of its Beymen Magazacilik unit as a result of low demand APRIL * Maker of pre-fabricated wooden homes Danwood Holding postponed its 360 million zloty ($100 million) Warsaw float due to valuation issues * Russian meat producer Cherkizovo Group postponed a planned share offering in Moscow, citing stock market volatility * Russia's IBS IT Services postponed its Moscow IPO due to high financial market volatility * Varo Energy BV decided not to proceed with plans for a flotation on the Euronext stock exchange in Amsterdam, citing poor market conditions * HNA Group's Swiss ground services and cargo handling unit Swissport Group deferred plans to float shares on the SIX Swiss Exchange, citing market conditions MARCH * HNA Group scrapped its planned listing of Swiss-based airline caterer Gategroup * African mobile phone mast firm Helios Towers pulled its plans to list in London, with one banker saying the expected IPO price was too low for shareholders FEBRUARY * Plastics maker Novares cancelled its up to 260 million euro Paris IPO, having already postponed it in November for what it said were technical reasons ($1 = 0.8431 euros) ($1 = 3.5985 zlotys) (Reporting by Arno Schuetze and Dasha Afanasieva; Editing by Alexander Smith)

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DelMar Appoints Saiid Zarrabian to Full-Time President and CEO

VANCOUVER, British Columbia and MENLO PARK, Calif., May 22, 2018 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (the "Company")(NASDAQ: DMPI) today announced that the board of directors (the "Board") has appointed Saiid Zarrabian as the full-time President and Chief Executive Officer of the Company, effective immediately. Mr. Zarrabian had previously served as the Company's interim President and Chief Executive Officer since November 2017 and prior to that as an independent board member since July 2017. "Saiid has made significant contributions to DelMar, initially as an independent board member and, most recently, as DelMar's interim President and CEO. We are pleased that he has agreed to further commit to the Company by taking on the full-time President and CEO role, effective immediately. His contributions have included a renewed focus on our two Phase 2 open label trials for MGMT-unmethylated glioblastoma multiforme, and enhanced fiscal responsibility while advancing our clinical programs in a timely and cost-effective fashion. The Board and I look forward to working with him to build on this momentum," stated Dr. Erich Mohr, Chairman of the Board. "I am excited to transition from my interim role at DelMar and to continue the clinical advancement of VAL-083, which has been validated in over 40 prior clinical trials indicating VAL-083's potential to combat multiple devastating diseases for patients with limited alternatives. Although VAL-083 may have applicability to many other solid tumor indications with potentially significant future commercial opportunities, we intend to use a disciplined and stepped approach to investing our resources in pursuing such opportunities. Over the next year, we expect to achieve a number of clinical milestones for VAL-083, including data from the ongoing Phase 2 second-line recurrent GBM study at MD Anderson, as well as data from the international Phase 2 study in newly diagnosed GBM patients. We plan to use our current capital efficiently and to continue to drive the enrollment of our clinical studies in an effort to maximize value for our shareholders," said Mr. Zarrabian. Mr. Zarrabian is a successful veteran of the biotechnology industry. He previously served as chairman of the board of directors at La Jolla Pharmaceutical Company during the company's transition from being an OTC listed company to a Nasdaq traded company. He also served as president of the Protein Production Division of Intrexon Corporation, a synthetic biology company. Prior to that, he served as chief executive officer and a member of the board of directors of Cyntellect, Inc., a stem cell processing and visualization instrumentation company until it was acquired in 2012. He served as president and chief operating officer of Senomyx, Inc., a company focused on discovery and commercialization of new flavor ingredients, and as chief operating officer of Pharmacopeia, Inc., a former publicly-traded provider of combinatorial chemistry discovery services and compounds, where he also served as president and chief operating officer of its MSI Division. In addition, Mr. Zarrabian has served on numerous private and public company boards, including at Immune Therapeutics, Inc., Exemplar Pharma, LLC, Ambit Biosciences Corporation, eMolecules, Inc. and Penwest Pharmaceuticals Co. Currently, he is serving as an advisor to Redline Capital Partners, S.A., a Luxemburg-based investment firm. About DelMar Pharmaceuticals, Inc. DelMar Pharmaceuticals is focused on the development and commercialization of new therapies for cancer patients who have limited or no treatment options. By focusing on understanding tumor biology and mechanisms of treatment resistance, the Company identifies biomarkers to personalize new therapies in indications where patients are failing, or unable to tolerate, standard of care treatments. The Company's current pipeline is based around VAL-083, a "first-in-class," small-molecule chemotherapeutic with a novel mechanism of action that has demonstrated clinical activity against a range of cancers including central nervous system, ovarian and other solid tumors (e.g. NSCLC, bladder cancer, head & neck) in U.S. clinical trials sponsored by the National Cancer Institute (NCI). Based on DelMar's internal research programs and these prior NCI-sponsored clinical studies, the Company is conducting clinical trials to support the development and commercialization of VAL-083 across multiple oncology indications to solve significant unmet medical needs. VAL-083 is also being studied in two collaborator-supported, biomarker-driven, Phase 2 clinical trials for MGMT-unmethylated glioblastoma multiforme (GBM). Overcoming MGMT-mediated resistance represents a significant unmet medical need in the treatment of GBM. Further information on DelMar's clinical trials can be found on clinicaltrials.gov : https://www.clinicaltrials.gov/ct2/results?cond=&term=val-083&cntry1=&state1=&recrs For further information, please visit http://delmarpharma.com/ ; or contact DelMar Pharmaceuticals Investor Relations: ir@delmarpharma.com / (604) 629-5989. Connect with the Company on Twitter , LinkedIn , Facebook , and Google+ . Safe Harbor Statement Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's Annual Report on Form 10-K for the year ended June 30, 2017, the Company's Quarterly Reports on Form 10-Q and the Company's Current Reports on Form 8-K. View original content with multimedia: http://www.prnewswire.com/news-releases/delmar-appoints-saiid-zarrabian-to-full-time-president-and-ceo-300652409.html SOURCE DelMar Pharmaceuticals, Inc.

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Houston American Energy Corp. Announces First Quarter 2018 Results; Updates Reeves County Production

HOUSTON, Houston American Energy Corp. (NYSE American: HUSA), a Permian Basin-focused E&P company, today announced financial results for the 2018 First Quarter and provided an update on activity on its Reeves County, Texas acreage. Q1 2018 Financial and Production Highlights Q1 2018 revenues rose sharply on increased production attributable to our Reeves County wells and improved energy prices. Revenue totaled $754,157 for the quarter ended March 31, 2018, up 1209% from the quarter ended March 31, 2017 and up 82%, from the quarter ended December 31, 2017; EBITDAX was $69,148 for the first quarter, (a non-GAAP measure; see reconciliation chart below). Production volumes for the quarter ended March 31, 2018 totaled 7,978 barrels of oil ("Bbl") and 63,409 thousand cubic feet of gas ("Mcf")(or 18,546 barrels of oil equivalent ("boe")); compared to 1,641 boe of production for Q1 2017 and 9,403 boe of production for Q4 2017; and Realized prices for oil and gas were $60.85/Bbl and $4.24/Mcf for the quarter ended March 31, 2018; compared to $47.91/Bbl and $3.42/Mcf for Q1 2017 and $54.05/Bbl and $4.22/Mcf for Q4 2017. Reeves County Production Update The Company's first two Reeves County, Texas wells, the Johnson #1H (25% working interest) and O'Brien #3H (11.1885% working interest) wells, both commenced commercial sales in November 2017. The wells were both completed in the Wolfcamp A formation with an approximate 4,500' lateral leg. Mr. John Boylan, Chairman and CEO of Houston American Energy stated: "We are pleased with the performance of our first two completed wells. Commencing in Q1 2018, we saw material improvements in production, revenues and cash flow resulting in positive EBITDAX of $69,148. Given the recurring delays experienced in our operator's development of our Reeves County acreage, we will continue to investigate and pursue additional drilling opportunities that produce the greatest potential return to shareholders while embarking on necessary cost cutting measures to maximize cash flow." About Houston American Energy Corp. Based in Houston, Texas, Houston American Energy Corp. is a publicly-traded independent energy company with interests in oil and natural gas wells, minerals and prospects. The Company's business strategy includes a property mix of producing and non-producing assets with a focus on the Permian Basin in Texas, Louisiana and Colombia. Forward-Looking Statements The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate, including statements regarding our ability to successfully identify, secure and execute on additional drilling opportunities, maximize return to investors and reduce costs. Those statements, and Houston American Energy Corp., are subject to a number of risks, including the potential inability to identify and secure economically viable drilling opportunities, secure financing to fund Houston American's share of well costs, timing of drilling operations, ultimate drilling results, potential changes in production rates, fluctuations in energy prices, fluctuations in drilling and operating costs, dependence on operators with respect to timing, cost and execution of drilling plans, changes in market conditions, effects of government regulation and other factors. These and other risks are described in the company's documents and reports that are available from the company and the United States Securities and Exchange Commission. For additional information, view the company's website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966. EBITDAX Reconciliation Table For the Quarter ended March 31, 2018 Net Income $ (79,911.00) Add Back: Interest $ - Taxes $ - Stock Based Compensation $ 52,349.00 Depreciation & Depletion $ 96,710.00 EBITDAX $ 69,148.00 with multimedia: releases/houston-american-energy-corp-announces-first-quarter-2018-results-updates-reeves-county-production-300647795.html SOURCE Houston American Energy Corp.

http://www.cnbc.com/2018/05/14/pr-newswire-houston-american-energy-corp-announces-first-quarter-2018-results-updates-reeves-county-production.html

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LiqTech International, Inc. To Discuss Results For The First Quarter Ended March 31, 2018

BALLERUP, Denmark, May 7, 2018 /PRNewswire/ -- LiqTech International, Inc. (NYSE AMERICAN: LIQT) , a clean technology company that manufactures and markets highly specialized filtration products and systems, announced today that it will release financial results for the first quarter ended March 31, 2018 on Tuesday, May 15, 2018 before the market opens. LiqTech's management team will conduct a conference call at 11 am EDT Tuesday, May 15, 2018 to discuss the financial results and will be followed by an open Q&A. Conference Call Details Interested parties may participate in the call by dialing (877) 407-8029 or (201) 689-8029. It is recommended to dial in approximately 10 to 15 minutes prior to the scheduled start time. The conference call will also be available on replay starting at 3 pm EDT on May 15, 2018 and ending on June 5, 2018. To access the replay, please dial (877) 660-6853 and enter the conference id 13679717. The access number for the replay for international callers is (201) 612-7415. Callers from Denmark can dial in using the following numbers: Denmark (fixed) ATT 802 521 64 Denmark (mobile) ATT 802 519 17 ABOUT LIQTECH INTERNATIONAL, INC. LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes which facilitate new applications and improve existing technologies. In particular, Provital Solutions A/S ( www.provital.dk ), the Company's subsidiary, has developed a new standard of water filtration technology to meet the ever increasing demand for higher water quality. By incorporating LiqTech's SiC liquid membrane technology with its longstanding systems design experience and capabilities it offers solutions to the most difficult water pollution problem. For more information, please visit www.liqtech.com Follow LiqTech on LinkedIn: http://www.linkedin.com/company/liqtech-international Follow LiqTech on Twitter: https://twitter.com/LiqTech Forward-Looking Statements This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward looking statements in order to reflect any event or circumstance that may arise after the date of this release. CONTACT: LiqTech International Aldo Petersen, Chairman, +45 2390 0000, ap@liqtech.com Sune Mathiesen, CEO +45 5197 0908, sma@liqtech.com View original content: http://www.prnewswire.com/news-releases/liqtech-international-inc-to-discuss-results-for-the-first-quarter-ended-march-31-2018-300643325.html SOURCE LiqTech International, Inc.

http://www.cnbc.com/2018/05/07/pr-newswire-liqtech-international-inc-to-discuss-results-for-the-first-quarter-ended-march-31-2018.html

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Premier Financial Bancorp, Inc. Reports Record First Quarter 2018 Earnings

HUNTINGTON, W. Va., May 2, 2018 /PRNewswire/ -- PREMIER FINANCIAL BANCORP, INC. (PREMIER), (NASDAQ/GMS: PFBI), a $1.5 billion financial holding company with two community bank subsidiaries, announced record financial results for the first quarter of 2018. Premier realized net income of $5,133,000 during the quarter ended March 31, 2018, a 40.1% increase from the $3,664,000 of net income reported for the first quarter of 2017. On a diluted per share basis, Premier earned $0.48 during the first quarter of 2018 compared to $0.34 per share earned during the first quarter of 2017. The increase in net income in the first three months of 2018 is largely due to an increase in interest income, gains on the liquidation of other real estate owned ("OREO") and lower income tax expense. These positive items more than offset a higher provision for loan losses in 2018. President and CEO Robert W. Walker commented, "While we were expecting an improvement in net income from the lower corporate income tax rates enacted as part of the Tax Cuts and Jobs Act of 2017, completion of the sale of two large foreclosed properties ("OREO") in the first quarter added over $1.0 million to pretax income and propelled our first quarter 2018 results to a record level. But that's not all. We also enjoyed higher interest income on loans, investments and short-term liquid assets in 2018 versus the first quarter of 2017, as well as a higher level of service charge and electronic banking revenue. Our net interest margin improved to 4.28% in the first quarter of 2018, up from 4.12% in the same quarter of 2017, aided by increases in yields on commercial loans, investment securities and short-term liquid assets. Also aiding our improvement in earnings, total earning assets increased in the first quarter of 2018 by approximately $60.8 million, or 4.4%, over the total at year-end 2017, partially due to a $20.4 million increase in non-interest bearing deposits. Lastly, we recently announced our definitive agreement to acquire the First Bank of Charleston, a $182 million bank headquartered in the capital city of West Virginia. We are excited about the opportunity to once again expand the Premier community bank franchise. While we have established commercial loan relationships in Charleston, our retail loan and deposit product offerings should enjoy a natural boost with the addition of First Bank of Charleston's retail franchise. We look forward to completing this merger some time early in the fourth quarter of this year." Net interest income for the quarter ended March 31, 2018 totaled $14.635 million, up $639,000, or 4.6%, from the $13.996 million of net interest income earned in the first quarter of 2017. Interest income in 2018 increased by $690,000, also a 4.6% increase, largely due to a $499,000, or 3.7%, increase in interest income on loans. Interest income on loans in the first quarter of 2018 included approximately $533,000 of income recognized from deferred interest and discounts recognized on non-accrual loans that paid off during the quarter compared to approximately $446,000 of interest income of this kind recognized during the first quarter of 2017. Otherwise, interest income on loans increased by $412,000, or 3.0%, in the first quarter of 2018 largely due to a higher average balance of loans outstanding during the quarter when compared to the first quarter of 2017. Interest income on investment securities in the first quarter of 2018 increased by $50,000, or 3.5%, largely due to higher average yields although on a lower average balance of investments outstanding during the first quarter of 2018. Interest income from interest-bearing bank balances and federal funds sold increased by $141,000, or 90%, largely due to an increase in the yield on these balances in 2018 resulting from increases in the short-term interest rate policy of the Federal Reserve Board of Governors on a slightly higher average balance outstanding during the first quarter of 2018. Partially offsetting some of the increase in interest income in the first quarter of 2018 was a $51,000, or again 4.6%, increase in interest expense. Interest expense on deposits increased by $82,000, or 8.6%, in the first quarter of 2018, primarily due to a higher average rate paid on certificates of deposit during the quarter. Average interest-bearing deposit balances were down slightly compared to the first quarter of 2017, and the average interest rates paid on savings, NOW and money market accounts were relatively unchanged in 2018 compared to the first quarter of 2017. However, increases in short-term rates have increased competition for time deposits and the related rates of interest paid on time deposits. Partially offsetting the increase in interest expense on deposit accounts, interest expense on borrowings in the first quarter of 2018 decreased by $40,000, or 46.0%, largely due to a decrease in outstanding borrowings from scheduled and accelerated principal payments on long-term borrowings at the parent company. Also adding to the overall increase in interest expense during the first quarter of 2018 was an $8,000, or 11.4%, increase in interest expense on Premier's subordinated debt due to an increase in the variable rate interest rate paid in 2018. The variable interest rate is indexed to the short-term three-month LIBOR interest rate, which has increased over the past twelve months in conjunction with increases in short-term interest rate policy by the Federal Reserve Board of Governors. During the quarter ended March 31, 2018, Premier recorded $1,115,000 of provision for loan losses compared to $366,000 of provision for loan losses recorded during the same quarter of 2017. The increase in the provision for loan losses recorded during the first quarter of 2018 was primarily to provide for additional identified credit risk on impaired loans in Premier's commercial, commercial real estate and construction loan portfolios. The provision for loan losses recorded during the first quarter of 2017 was primarily to provide for the increase in the total loan portfolio during the first quarter of 2017 as well as additional identified credit risk in Premier's commercial and residential real estate loan portfolios. The level of provision expense is determined under Premier's internal analyses of evaluating credit risk. The amount of future provisions for loan losses will depend on any future improvement or further deterioration in the estimated credit risk in the loan portfolio as well as whether additional payments are received on loans previously identified as having significant credit risk. Gross charge-offs of loans increased by $55,000 in the first quarter of 2018 when compared to the same quarter of 2017, while recoveries on loans previously charged-off decreased by $15,000. Also during the quarter ended March 31, 2018, non-accrual loans increased by $68,000 since year-end 2017, while accruing loans over 90 days past due decreased by $2.7 million. Net overhead costs (non-interest expenses less non-interest income) for the quarter ended March 31, 2018 totaled $6.923 million compared to $7.981 million in the first quarter of 2017. Net overhead decreased by $1.058 million, or 13.3%, in the first quarter of 2018 when compared to the first quarter of 2017, largely due to $1.080 million of net gains upon the sale of OREO in the first quarter of 2018. Premier sold approximately $6.1 million of OREO, or approximately 30% of the carrying value held on the books at year-end 2017, and realized $1.080 million of net gains upon their liquidation. OREO expenses and writedowns are traditionally included in Premier's total non-interest expenses, so the net gains from these sales reduced non-interest expense in the first quarter of 2018. Excluding the net OREO gains, net overhead totaled $8.003 million in the first quarter of 2018, compared to the $7.981 million in the first quarter of 2017, an increase of $22,000, or 0.3%. Total non-interest income increased by $49,000 in the first quarter of 2018 when compared to the first quarter of 2017, largely due to a $118,000, or 12.1%, increase in service charges on deposit accounts and a $37,000, or 4.7%, increase in electronic banking income. These increases were partially offset by a $35,000 decrease in secondary market mortgage income, $50,000 of proportional start-up costs from an investment in a start-up insurance agency and a $21,000 decrease in other non-interest income. Non-interest expense decreased by $1.009 million in the first quarter of 2018 when compared to the first quarter of 2017, largely due to the $1.080 million of net gains on the sale of OREO discussed above. Otherwise, non-interest expense increased by $71,000, or 0.7% in the first quarter of 2018 compared to the first quarter of 2017. Increases in operating costs include a $261,000 increase in loan collection expenses, an $89,000, or 5.9% increase in occupancy and equipment expense, an $88,000, or 35.5%, increase in professional fees and a $51,000, or 27.0%, increase in taxes not on income. The unusually high increase in loan collection expenses was primarily due to expenses related to foreclosure on a large multifamily housing unit that was completed in the first quarter of 2018. These increases were substantially offset by a $192,000, or 3.9%, decrease in staff costs, a $71,000, or 5.4%, decrease in data processing costs, a $70,000, decrease in the amortization of intangible assets, a $45,000, or 23.3%, decrease in FDIC insurance premiums, and a $46,000 decrease in OREO expenses, exclusive of the net gains discussed previously. Total assets as of March 31, 2018 were up $32.4 million, or 2.2%, from the $1.493 billion of total assets at year-end 2017. Liquid assets, such as cash and due from banks, interest bearing bank balances and federal funds sold, increased by $57.5 million, largely due to an increase in funds from an increase in total deposits and net payoffs on loans during the first three months of 2018. Cash and due from banks decreased by $21.0 million, due to a decrease in reserves required to be kept in non-interest bearing bank accounts under Federal Reserve Regulation D. These funds were moved to interest-bearing bank balances, improving Premier's overall interest income from short-term investments. Investment securities increased by $2.6 million, or 0.9%, since year-end 2017, as $20.6 million of new investment purchases were substantially offset by principal paydowns and a $3.9 million decrease in the market value of the securities available for sale. Total loans outstanding decreased by $20.3 million, or 1.9%, largely due to payoffs on loans, including expected sizable payoffs from completed construction projects, exceeding new loans generated during the quarter. Other real estate owned ("OREO") decreased by $5.8 million, or 29.0%, due to the sale of two of the three largest OREO properties held, which also generated nearly $1.07 million of profit upon liquidation. Total deposits increased by $30.5 million, or 2.4%, since year-end 2017, including a $20.4 million increase in non-interest bearing deposits, and a $12.9 million increase in interest bearing transaction and savings deposits. Time deposits have decreased by $2.8 million since year-end 2017. Customer repurchase agreements decreased by $2.5 million, or 10.8% since year-end 2017. Other borrowings decreased by $750,000 since year-end 2017 due to scheduled principal payments plus additional principal payments on Premier's existing borrowings. Premier's subordinated debentures increased by $7,000 since year-end 2017 due to the accretion of purchase accounting fair value adjustments applied to the $6.186 million face value of the subordinated debentures. Other liabilities increased by $4.6 million, largely due to securities that were purchased prior to March 31, 2018 that did not settle until April. Stockholders' equity of $183.9 million equaled 12.1% of total assets at March 31, 2018, which compares to stockholders' equity of $183.4 million, or 12.3% of total assets, at December 31, 2017. The increase in stockholders' equity was largely due to the $5.1 million of first quarter net income. This increase in stockholders' equity was substantially offset by a $3.1 million, net of tax, decrease in the market value of the investment portfolio available for sale and a $0.15 per share cash dividend declared and paid during the first quarter of 2018. Premier recently announced a definitive agreement to acquire First Bank of Charleston, a $182 million bank, as of March 31, 2018, headquartered in Charleston, West Virginia. Under terms of the definitive agreement with First Bank of Charleston, First Bank shareholders will be entitled to a combination of Premier common stock and cash currently valued at approximately $32.00 per First Bank share, or an aggregate value of $33.0 million, including $5.00 in cash from Premier and a $5.00 special dividend from First Bank. Under a floating exchange ratio, Premier would issue common stock valued at approximately $22.00 per First Bank share, or approximately 1.12 million shares assuming yesterday's closing price of $20.20 per share for Premier. The transaction, which is subject to satisfaction of various contractual conditions, requires approval by bank regulatory agencies and the shareholders of First Bank and approval of Premier shareholders for the issuance of shares. The transaction is anticipated to close in the fourth quarter of 2018, with a systems conversion anticipated to be completed soon thereafter. Certain Statements contained in this news release, including without limitation statements including the word "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from any future results, performance or achievements of Premier expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this press release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. Premier disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments. Following is a summary of the financial highlights for Premier as of and for the period ended March 31, 2018 PREMIER FINANCIAL BANCORP, INC. Financial Highlights Dollars in Thousands (except per share data) For the Quarter Ended March 31 March 31 2018 2017 Interest Income Loans, including fees 14,034 13,535 Investments and other 1,765 1,574 Total interest income 15,799 15,109 Interest Expense Deposits 1,031 949 Borrowings and other 133 164 Total interest expense 1,164 1,113 Net interest income 14,635 13,996 Provision for loan losses 1,115 366 Net interest income after provision 13,520 13,630 Non-interest Income Service charges on deposit accounts 1,094 976 Electronic banking income 817 780 Other non-interest income 155 261 Total non-interest income 2,066 2,017 Non-Interest Expense Salaries and employee benefits 4,778 4,970 Net occupancy and equipment 1,610 1,521 Outside data processing 1,249 1,320 OREO expenses and writedowns, net (886) 240 Amortization of intangibles 195 265 Other non-interest expenses 2,043 1,682 Total non-interest expense 8,989 9,998 Income Before Taxes 6,597 5,649 Income Taxes 1,464 1,985 NET INCOME 5,133 3,664 EARNINGS PER SHARE 0.48 0.34 DILUTED EARNINGS PER SHARE 0.48 0.34 DIVIDENDS PER SHARE 0.15 0.15 Charge-offs 464 409 Recoveries 86 101 Net charge-offs (recoveries) 378 308 PREMIER FINANCIAL BANCORP, INC. Financial Highlights (continued) Dollars in Thousands (except per share data) Balances as of March 31 December 31 2018 2017 ASSETS Cash and due from banks 19,845 40,814 Interest-bearing bank balances 107,550 39,773 Federal funds sold 15,348 4,658 Securities available for sale 281,088 278,466 Loans (net) 1,015,918 1,036,948 Other real estate owned 14,185 19,966 Other assets 33,298 34,053 Goodwill and other intangible assets 38,551 38,746 TOTAL ASSETS 1,525,783 1,493,424 LIABILITIES & EQUITY Deposits 1,303,195 1,272,675 Fed funds/repurchase agreements 20,793 23,310 Other borrowings 4,250 5,000 Subordinated debentures 5,383 5,376 Other liabilities 8,286 3,708 TOTAL LIABILITIES 1,341,907 1,310,069 Common stockholders' equity 183,876 183,355 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY 1,525,783 1,493,424 TOTAL BOOK VALUE PER COMMON SHARE 17.22 17.17 Tangible Book Value per Common Share 13.61 13.55 Non-accrual loans 15,314 15,246 Loans past due over 90 days and still accruing 678 3,391 View original content: http://www.prnewswire.com/news-releases/premier-financial-bancorp-inc-reports-record-first-quarter-2018-earnings-300640640.html SOURCE Premier Financial Bancorp, Inc.

http://www.cnbc.com/2018/05/02/pr-newswire-premier-financial-bancorp-inc-reports-record-first-quarter-2018-earnings.html

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Deal is reached to sell the Plaza Hotel

After years of trying, two investors have reached a deal to buy a majority share of the historic Plaza Hotel for $600 million, a top executive for the seller, the Sahara Group, confirmed. The buyers are Shahal Khan, founder of the Dubai-based family office White City Ventures, and Kamran Hakim of the Hakim Organization, a major New York City landlord. The deal is scheduled to close on June 25. Sandeep Wadhwa, head of corporate finance at the Sahara Group, which owns a 70 percent stake in the hotel, and Sant Singh Chatwal, a hotelier who owns the other 5 percent being sold, confirmed the deal. Both men declined to comment further, citing confidentiality agreements. Opened in 1907, the Plaza is a city landmark and the only hotel listed on the National Register of Historic Places. Home of the literary troublemaker Eloise, famous for pouring water down the mail chute, the hotel has been featured in countless movies, from "North by Northwest" to "Home Alone 2," and was at one time owned by Donald J. Trump, who lost it in a bankruptcy. In 2005, it was largely converted into luxury condominiums, though a smaller hotel component and restaurants, including the Palm Court and the underground food hall, remain. The Sahara Group has long tried to sell the property, and last year, it hired Jones Lang LaSalle, a brokerage firm, to carry out an auction of the property. The latest deal follows a string of reported sales that never came to fruition, though this time the buyers have made a $30 million deposit that they would forfeit if they backed out, making a completed sale more likely. Read more from The New York Times: The Plaza is for sale, but a part-owner has other ideas What Donald Trump's Plaza deal reveals about his White House bid Legal woes of owners help put the plaza back in play The deal is complicated by the fact that a partnership of the Ashkenazy Acquisition, a real-estate firm, and Kingdom Holdings, which is controlled by the Saudi Prince Alwaleed bin Talel, owns the remaining 25 percent of the Plaza. The partners have the right of first refusal to buy the hotel at the same valuation. That right is set to expire sometime in the next week. Prince Alwaleed was among a group of Saudi princes and ministers who were taken into custody by the government in November in a series of arrests orchestrated by Crown Prince Mohammed bin Salman. Prince Alwaleed was released in January. Calls to Kingdom Holdings and Ashkenazy Acquisitions were not returned. The transaction is complex. The $600 million purchase price includes the refinancing of a more than $410 million mortgage on the hotel. The Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani, known as H.B.J., holds the mortgage, which is set to mature in early July. The sale was first reported by the real estate trade magazine The Real Deal. Subrata Roy, chairman of the Sahara Group, and Mr. Chatwal bought their shared stake in the hotel in 2012. Shortly after the purchase, Indian regulators sought to arrest Mr. Roy over a bond sale. He was jailed for two years, and has since been ordered to return several billion dollars. In 2010, Sahara purchased the Grosvenor House, a historic hotel in London. Last year, Ashkenazy Acquisition, with financing from H.B.J., acquired that hotel. As part of that deal, H.B.J. took over the mortgage on the Plaza. Mr. Khan has spent several years trying to buy the hotel. It was suggested that he would use cryptocurrency to fund the acquisition, but the financing for the deal is a combination of traditional equity and debt. Mr. Hakim is a major landlord, with a portfolio of properties worth more than $1 billion. He sued to get off New York's 100 worst landlord list, arguing that the buildings cited were vacant. A judge ruled against him in the suit last year, and he is now listed at No. 26. Mr. Khan confirmed the deal, but declined to comment further. Mr. Hakim did not return requests for comment.

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World Acceptance Corporation Announces Fourth Quarter 2018 Conference Call On The Internet

GREENVILLE, S.C., May 3, 2018 /PRNewswire/ -- World Acceptance Corporation (NASDAQ:WRLD) will provide an online, real-time webcast and rebroadcast of its fourth quarter conference call to be held on Thursday, May 10. The earnings release will be issued prior to the call. The live broadcast of World Acceptance Corporation's conference call will be available online at https://www.webcaster4.com/Webcast/Page/1118/25471 on May 10, beginning at 10:00 a.m. (Eastern Time). The online replay will follow immediately and continue for 30 days. About World Acceptance Corporation World Acceptance Corporation is one of the largest small-loan consumer finance companies, operating 1,334 offices in 15 states and Mexico. View original content: http://www.prnewswire.com/news-releases/world-acceptance-corporation-announces-fourth-quarter-2018-conference-call-on-the-internet-300642415.html SOURCE World Acceptance Corporation

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Formula One Miami Grand Prix approved, Lewis Hamilton isn't happy

Lluis gene | AFP | Getty Images Mercedes' British driver Lewis Hamilton. Formula One (F1) has approved a new Miami street circuit Grand Prix to be added to the calendar in 2019. However, reigning World Champion Lewis Hamilton has suggested organizers might want to have a rethink before committing fully to the idea. The Mercedes driver indicated ahead of this weekend's Spanish Grand Prix that he had been underwhelmed by what he had seen so far. "I don't get why, for example, in golf, all the great golfers design golf courses," Hamilton told reporters. "You have not got any of the top racing drivers in history having ever designed a race track, and I don't get it. Not that any of us are designers, but they haven't asked for our input." show chapters 9:50 AM ET Fri, 20 April 2018 | 03:26 "Miami is a super-cool place and I was very excited to hear about it, but when I saw the layout I was like, meh. I think it could be a lot more fun," he added. Miami city officials voted in favor of the F1 proposal on Thursday and it's expected the race would be in addition to the U.S. Grand Prix, which has taken place in Austin, Texas, since 2012 and was won by Hamilton on five of those six occasions. Despite the reservations of the four-time world champion, the unanimous decision of the City of Miami Commission and Miami-Dade County was welcomed by the sport. "Formula 1 in Miami represents a fantastic opportunity to bring the greatest racing spectacle on the planet to one of the world's most iconic cities, and we are delighted that the journey is underway," said Sean Bratches, F1's commercial managing director. show chapters 10:12 AM ET Mon, 23 April 2018 | 05:39 Miami City Commissioner Ken Russell gave a potential sneak preview of the location and layout of the track on social media last week. Most of the course runs through the port area and features a loop around the downtown American Airlines Arena along Biscayne Bay. TWEET However, that seems to have only enhanced Hamilton's particular reservations. "You have got two of the longest straights, but maybe when you drive it will be fun," Hamilton said. "I dread the thought of a street circuit like we had in Valencia, which wasn't a great street circuit." That said, Hamilton still would like to see the idea succeed and would welcome the opportunity to have some input into what would make an exciting track layout. Formula One Chairman Chase Carey said Wednesday in a Liberty Media conference call with analysts that he hoped and believed the race would happen. "We think this race could probably be a real signature race for us on the schedule," he said.

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TREASURIES-U.S. 10-year yield hits 7-year high, soggy TIPS sale

* Investors, speculators uncertain about market's direction U.S. $11 bln 10-year TIPS auction fails to inspire demand * U.S. to sell $99 bln coupon issues, $16 bln FRN * U.S. jobless claims rise, Philly Fed data improve (Updates market action, adds Quote: ) By Richard Leong NEW YORK, May 17 (Reuters) - U.S. 10-year Treasury yields rose to a near seven-year peak on Thursday, extending this week's bond market selloff, as traders and investors have not reached a consensus on whether it was time to buy or if the market was vulnerable to more selling. Technical indicators suggested the Treasuries market is the most oversold since three weeks ago when the 10-year yield rose above 3 percent for the first time since January 2014. These chart signals, however, have not lured bargain-minded investors to jump back into bonds, which would send yields lower. "The market is trying to figure where the bottom is. At this point, it is not clear," said Mary Ann Hurley, vice president of fixed income with D.A. Davidson in Seattle. The U.S. Treasury Department's $11 billion reopening of a prior issue of 10-year Treasury Inflation Protection Securities (TIPS) drew mediocre bidding. Demand for new Treasury supply will be tested again next week with $99 billion in fixed-rate coupon issues and $16 billion in two-year floating-rate notes (FRN). Hurley and other traders reckoned bets on rising inflation and federal borrowing will likely push the 10-year yield to 3.25 percent. Some analysts laid the blame more on technical factors behind this week's market selloff. "It's more a technical move than one driven by fundamentals," said Bruno Braizinha, interest rate strategist at SG Corporate & Investment Banking in New York. On balance, recent U.S. economic readings, including payrolls and consumer price data in April, have fallen short of market expectations, Braizinha noted. New applications for U.S. jobless benefits rose more than forecast last week after hitting their lowest level since 1969 in late April. On the other hand, Mid-Atlantic business activity rose to its strongest in a year, based on an index from the Philadelphia Federal Reserve. Benchmark 10-year Treasury notes yielded 3.109 percent, up over 1 basis point from late on Wednesday. The yield touched 3.122 percent earlier Thursday, which was the highest since July 2011, according to Reuters data. Since the 10-year yield on Tuesday broke above 3.05 percent, seen as a critical support level, there are no signs yet that asset managers are bailing from their hefty bullish bets on longer-dated Treasuries or that speculators are rushing out of their heavy bearish bond positions, analysts said. The Treasuries market's risks are "symmetric," meaning yields could move in either direction, Braizinha said. If the 10-year yield hits 3.25 percent, "it's a definite buy." May 17 Thursday 3:00PM EDT/ 1900 GMT Price US T BONDS JUN8 140-15/32 -0-15/32 10YR TNotes JUN8 118-128/256 -0-12/256 Price Current Net Yield % Change (bps) Three-month bills 1.8725 1.9074 0.002 Six-month bills 2.0375 2.0872 0.002 Two-year note 99-160/256 2.5729 -0.016 Three-year note 99-166/256 2.7482 -0.011 Five-year note 99-42/256 2.9324 -0.002 Seven-year note 98-212/256 3.0633 0.005 10-year note 98 3.1094 0.014 30-year bond 97-180/256 3.2454 0.030 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 24.00 1.00 spread U.S. 3-year dollar swap 18.25 1.00 spread U.S. 5-year dollar swap 9.75 0.50 spread U.S. 10-year dollar swap 3.00 -0.25 spread U.S. 30-year dollar swap -8.75 -1.25 spread (Reporting by Richard Leong; Editing by Bernadette Baum and James Dalgleish)

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People-Based Marketing Leader, BounceX, Appoints Yiftah Frechter as New Chief Technology Officer

NEW YORK, May 17, 2018 /PRNewswire/ -- BounceX , the leading People-Based Marketing (PBM) cloud, today announced Yiftah Frechter as Chief Technology Officer. An expert in marketing, advertising and media technologies, Frechter was formerly Vice President of Engineering at Undertone and Vice President of Research and Development at Sizmek (Mediamind). He also served as the CTO and co-founder of Legolas Media, which was acquired in 2014 by Undertone. Yiftah brings to this new position 20 years of experience scaling global technology platforms. Frechter is a key hire as BounceX expands into new market segments and geographies. The company recently announced $37M in funding and over the next two years plans to expand to 600 employees globally, with a concentration in its NYC and UK offices. In his role as CTO, Frechter will continue to evolve the company's internal strategic technical direction as well as make sure BounceX is providing the best technologies to their elite and dynamic client base. Today, over 350 companies work with BounceX, including world-leading enterprises such as Forever21, Avis, JetBlue, CNN, Uniqlo and Comcast. "Yiftah has a proven playbook for taking a company like BounceX through its next several stages of growth," said Ryan Urban, CEO of BounceX. "He's a strategic addition to our leadership team and his appointment is an exciting turbo charge to our expansive growth and vision." "BounceX is the first new scalable revenue channel in 10 years, and I find that extremely exciting to be a part of," said Frechter. "Not only is the platform promising, the culture and team I'm joining are unparalleled." A lean startup since fruition, the company recently raised $37M in Series B funding and was named one of the Top 50 Highest Rated Private Cloud Companies to Work For by Glassdoor. They are also Inc. 5000's fastest growing software company in the US and the seventh fastest growing company overall; #5 on Deloitte's North America Technology Fast 500; #1 in New York for Entrepreneur & Culture IQ's Top Company Culture; and Crain's New York Best Place to Work. About BounceX Founded in 2012, BounceX's People-Based Marketing (PBM) cloud is the first new revenue channel with scale in 10 years. With offices in NYC, San Francisco and London and named the fastest growing software company in America by Inc Magazine in 2016, we currently power thousands of digital properties across a multitude of industries. For the first time, brands and publishers have a meaningful paid channel outside of Google and Facebook. We are trusted by global enterprises such as Forever21, Avis, JetBlue, CNN, Uniqlo, Comcast and many more. www.bouncex.com MEDIA CONTACT Holly Hitchcock Front Lines Media 866-316-2368 Holly@Frontlines.io This press release was issued through 24-7PressRelease.com . For further information, visit http://www.24-7pressrelease.com . View original content: http://www.prnewswire.com/news-releases/people-based-marketing-leader-bouncex-appoints-yiftah-frechter-as-new-chief-technology-officer-300650016.html SOURCE BounceX

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UK consumers return to shopping after snowy start to 2018, sales beat forecast

LONDON, May 24 (Reuters) - British retail sales jumped by the most in one-and-a-half years in April, official figures showed on Thursday as consumers returned to the shops after a snowy start to 2018 that weighed on the overall economy. Retail sales volumes rose by 1.6 percent from March, the Office for National Statistics said, well above the median forecast for a monthly 0.7 percent increase in a Reuters poll of economists. The rise followed a sharp fall of 1.1 percent in March when Britain was in the grip of unusually cold winter weather. However, the ONS said the big picture remained one of subdued spending with sales broadly unchanged over the past six months. In the three months to April, sales edged up by 0.1 percent compared with a fall of 0.4 percent in the three months to March when they suffered the biggest decline since the first quarter of 2017. British households were hit last year by a combination of rising inflation and weak wage growth. Recent figures have shown a cooling of price growth and a pickup in wages. But many retailers are struggling as consumers remain wary about spending and online shopping upends the industry. Marks & Spencer , House of Fraser and New Look among other chains have said they plan to close shops. But clothing retailer Next said earlier this month that warmer weather in April boosted its sales. The Bank of England is watching for signs that Britain's economy has recovered from the early 2018 slowdown before it presses ahead with only the second interest rate hike since before the financial crisis. Figures published on Wednesday by the Confederation of British Industry showed retail sales picked up moderately in May. The gauge of inflation used in the retail sales data, the retail price deflator, picked up to 2.2 percent after sinking in March to its lowest since January 2017 at 1.9 percent. The ONS said retail sales in cash terms grew by 3.5 percent in April in annual terms, up from 3.2 percent in March. (Reporting by William Schomberg and Alistair Smout)

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EES Announces First Quarter 2018 Financial Results

OKLAHOMA CITY, May 15, 2018 /PRNewswire/ -- Energy and Environmental Services, Inc. ("we" or the "Company") (OTC: EESE) today announced its unaudited financial results for the first quarter ended March 31, 2018. "We're pleased with the company's continued upward trend shown in the first quarter," stated Leon Joyce, CEO. "As demand looks to remain strong moving forward, we will remain focused on growing revenues and expanding our product lines," added Joyce. First Quarter 2018 Financial Highlights Sales revenues continued to strengthen with an increase of $829,400 (110%) from $755,200 in the First Quarter 2017 to $1,584,600 for the First Quarter 2018. Our gross profit grew $192,700 (33.0%) from $584,500 in the First Quarter 2107 to $777,200 in the First Quarter 2018. Operating expenses were reduced $194,000 (18.8%) from $1,030,800 in the First Quarter 2017 to $836,800 in the First Quarter 2018. EBITDA for the First Quarter 2018 was $53,800 compared to $(298,000) for the First Quarter 2017. Our net loss for the First Quarter 2018 was $(17,500) versus a net loss of $(445,500) in the First Quarter 2017. Capital Resources and Outlook Our primary source of capital has been cash flow from operations. We have had limited borrowings in recent years and have not sold shares to generate capital. Our balance sheet remains strong and at March 31, 2018, we had cash and cash equivalents of $3,059,400, which reflects a net decrease of $592,000 from the beginning of the First Quarter 2018 period. Much of the net decrease came from a $739,300 increase in accounts receivable and, to a lesser extent, $177,600 in higher inventories, both of which grew as sales demand expanded. With working capital of $5,400,700 at March 31, 2018, we have sufficient capacity to meet our cash needs and will continue to focus on increasing revenues. We believe our revenues will continue to increase. With improved margins, we expect a return to profitability by year end 2018. We expect that our chemical sales will continue to grow as oil and gas industry activity increases. The latter part of the year should see growth in our coating product sales with the Vortex joint venture coming on line. Our enzyme and probiotics products are nearing final stages of development, and we expect several products to reach market later this year. Amended Bylaws and Board Committees As the Company prepares to transition to registration under the Securities Exchange Act of 1934, the Board of Directors adopted amended and restated bylaws, which better suits a publicly-held company. The new bylaw provisions address: Use of electronic transmission and remote communication in meetings of shareholders and directors and for other corporate communications Advance notice of any director nomination or other proposal by a proposing shareholder and requiring certain qualifications for director nominees, which ensure that adequate background information and suitability are afforded before the meeting. Use of written consents by shareholders, which was not previously covered. Requirement that derivative actions, claims of fiduciary breach against a director, claims under the Colorado Business Corporation Act, and claims relating to the Company's internal affairs must be brought in the District Court of Arapahoe County, Colorado. Authorizing the creation of board committees and establishing procedures for their constitution and operation. The Board has also authorized the creation of an Audit Committee and a Compensation Committee and appointed directors to those committees. James Merrill will chair the Audit Committee and Mark Day will also serve. The Audit Committee will work with the Company's auditors, accountants and consultants to prepare for an audit of the Company's year-end 2018 financial statements. Mark Day will chair the Compensation Committee and James Merrill will also serve. The Compensation Committee will handle executive compensation matters, including the administration of the Company's proposed equity incentive compensation plan. Mr. Merrill and Mr. Day are both independent directors. About EES Energy and Environmental Services, Inc. (EES), based in Oklahoma City, participates in the oilfield chemical, anti-corrosive coatings and biotech industries. EES was established in 1991 and management has over 50 years of experience blending, manufacturing and packaging custom liquids and solid chemicals for the oil, gas and agricultural industries. Additionally, the company has expanded to develop innovative products and applications for enzyme system technologies, livestock feed supplements, specialized anti-corrosive coatings and solar well treatment systems. Company website www.eesokc.com Safe Harbor for Forward-Looking Statements Certain statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Energy & Environmental Services actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Energy & Environmental Services expressly disclaims any intent or obligation to update any forward-looking statements. View original content: http://www.prnewswire.com/news-releases/ees-announces-first-quarter-2018-financial-results-300648839.html SOURCE Energy and Environmental Services, Inc.

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METALS-Copper prices edge up for second session as dollar retreats

May 17, 2018 / 4:37 AM / Updated 7 minutes ago METALS-Copper cuts gains on firmer dollar, worries over Chinese demand Reuters Staff 5 Min Read (Updates prices) By Manolo Serapio Jr MANILA, May 17 (Reuters) - London copper futures pared gains on Thursday as the U.S. dollar hovered near a five-month high against the euro and amid worries over slower demand in top copper user China. Three-month copper on the London Metal Exchange was up 0.3 percent at $6,844.50 a tonne by 0714 GMT, off a session-high of $6,866. ANZ analysts said in a note that the copper market appeared to be tightening, with the front-end of the curve moving into backwardation, when prices for future delivery are lower than those for immediate dispatch. The one-day spread on tomorrow's contracts, or tom-next spread, stood at $50 per tonne. "This appears to be creating a short squeeze, with many traders forced to buy back short positions," ANZ said. "If you look at the longer term, there's definitely a bull case for copper," Argonaut Securities analyst Helen Lau said, citing declining ore grades and rising cost, among other factors. "But in the short-term, we still need to grapple with slowing copper demand from China especially in the power sector." DOLLAR: The euro stayed near a five-month low against the greenback on concerns political developments in Italy could cause wider disruptions in the euro bloc, making dollar-denominated assets more costly for holders of other currencies. SHANGHAI COPPER: The most-traded July copper contract on the Shanghai Futures Exchange closed up 0.2 percent at 51,050 yuan ($8,023) a tonne. BULL CYCLE: Metals markets are moving into a new bull cycle that will be longer and shallower than the last, driven by rising inflation and dispersed demand growth, panelists said at the LME week Asia conference in Hong Kong. CHALCO: Aluminum Corp of China Ltd, or Chalco, plans to export 30,000-50,000 tonnes of alumina in May, the company's president said. U.S.-CHINA: The United States and China launch trade talks on Thursday in a bid to avert a damaging tariff war, with the White House's harshest China critic relegated to a supporting role, senior Trump administration officials said. HONG KONG EXCHANGE: The head of Hong Kong Exchanges and Clearing said it would take time for the group to develop its metals business on the Chinese mainland, including plans to develop its commodity business in Qianhai in southern China and start warehousing through its London Metal Exchange operations. LITHIUM: Australia's Kidman Resources said it would supply lithium for Tesla Inc's electric car batteries, the latest in a string of deals by carmakers securing supplies of the mineral as demand surges for clean cars. OTHER METALS: LME aluminium rose 0.4 percent to $2,325 a tonne and nickel was flat at $14,475. In Shanghai, aluminium climbed 1 percent to end at 14,885 yuan per tonne, while nickel added 0.4 percent to 107,820 yuan. BASE METALS PRICES 0714 GMT Three month LME copper 6844.5 Most active ShFE copper 51050 Three month LME aluminium 2325 Most active ShFE aluminium 14885 Three month LME zinc 3063.5 Most active ShFE zinc 23570 Three month LME lead 2333.5 Most active ShFE lead 19410 Three month LME nickel 14475 Most active ShFE nickel 107820 Three month LME tin 20800 Most active ShFE tin 145900 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 301.53 LME/SHFE ALUMINIUM LMESHFALc3 -2329.51 LME/SHFE ZINC LMESHFZNc3 436.06 LME/SHFE LEAD LMESHFPBc3 569.28 LME/SHFE NICKEL LMESHFNIc3 -1377.41 ($1 = 6.3627 Chinese yuan) (Reporting by Manolo Serapio Jr. Editing by Joseph Radford)

https://www.reuters.com/article/global-metals/metals-copper-prices-edge-up-for-second-session-as-dollar-retreats-idUSL3N1SO1OS

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PRESS DIGEST- British Business - May 9

May 9 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The government is investigating ways to ban technology companies from transferring sensitive information to Europe if Brussels carries out its threat to block the UK from the Galileo satellite navigation system. bit.ly/2wp0Uj9 Vodafone Group Plc was on the brink of announcing a 19 billion euros ($22.54 billion) deal to buy a significant part of Liberty Global Plc's European cable business. bit.ly/2jGyW9a The Guardian London-listed maker of treatments for ADHD and rare diseases Shire Plc has finally agreed to a takeover by the Japanese firm Takeda Pharmaceutical Co Ltd after it raised its offer to 46 billion pounds ($62.34 billion), making it the biggest deal in the pharmaceutical sector since 2000. bit.ly/2KO3BOm Britain's biggest mortgage lender Halifax has dismissed fears that the UK housing market is heading for a crash despite posting news of the biggest monthly drop in prices since shortly after David Cameron became prime minister. bit.ly/2KL4GGP The Telegraph Fears are growing over the future of hundreds of UK steelworkers' jobs after Tata Steel Ltd began seeking buyers for five of its European businesses following a strategic review. bit.ly/2I8YtCJ Facebook Inc is appointing new leaders to its main divisions, in the most substantial reshuffle in its history and in a move which reveals its blockchain ambitions. bit.ly/2wny3eS Sky News The Wall Street bank Goldman Sachs Group Inc has agreed to buy a stake in Trussle, a UK-based online mortgage broker, underlining the growing appetite of established lenders to invest in financial technology start-ups. bit.ly/2jFQ6UC Plans for a merger between "big six" energy suppliers SSE Plc and npower face an in-depth investigation by regulators on fears that the deal could mean higher bills for households. bit.ly/2KOgqbw The Independent Consumer credit agency Equifax Inc said hackers stole more than 145 million Americans' Social Security numbers and other identifying information during a massive breach last year. ind.pn/2rpMEkm $1 = 0.8429 euros $1 = 0.7379 pounds Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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Centene Corporation Prices Offering Of Common Stock

ST. LOUIS, May 1, 2018 /PRNewswire/ -- Centene Corporation (NYSE: CNC) ("Centene" or the "Company") announced today that it has priced its previously announced registered offering of $2.6 billion in shares of common stock, par value $0.001 per share, at a public offering price of $107.50 per share, in an underwritten public offering made pursuant to a registration statement and a related preliminary prospectus supplement filed by Centene with the Securities and Exchange Commission ("SEC"). Pursuant to the offering, Centene granted the underwriters an option to purchase from the Company up to an additional $260 million in shares of common stock. The underwriters were led by Barclays, Citigroup, Wells Fargo Securities, Evercore ISI and SunTrust Robinson Humphrey as the book-running managers for the offering. The offering is expected to close on or about May 4, 2018, subject to customary closing conditions. Centene intends to use the net proceeds of the offering to finance a portion of the cash consideration payable in connection with Centene's previously announced acquisition of the assets of Fidelis Care and to pay related fees and expenses. The acquisition is expected to close on or about July 1, 2018, subject to regulatory approval from the New York Attorney General and certain closing conditions. The closing of this offering is not conditioned on the closing of the acquisition. 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 the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made by means of a prospectus and the related preliminary prospectus supplement only. Before you invest, you should read the prospectus and the related preliminary prospectus supplement, the registration statement and other documents that Centene has filed with the SEC for more complete information about Centene and this offering. Copies of the prospectus, the related preliminary prospectus supplement and the registration statement can be obtained from Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, 1-888-603-5847, barclaysprospectus@broadridge.com ; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Tel: 800-831-9146; Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, by telephone at (800) 326-5897 or email to cmclientsupport@wellsfargo.com ; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at 888-474-0200 or by email at ecm.prospectus@evercore.com ; and SunTrust Robinson Humphrey, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, telephone: 404-926-5744, fax: 404-926-5464 or email: strh.prospectus@suntrust.com . About Centene Corporation Centene Corporation, a Fortune 100 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-Term Services and Supports (LTSS), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), dual eligible programs and programs with the U.S. Department of Defense and U.S. Department of Veterans Affairs. Centene also provides healthcare services to groups and individuals delivered through commercial health plans. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, commercial programs, home-based primary care services, life and health management, vision benefits management, pharmacy benefits management, specialty pharmacy and telehealth services. The information provided in this press release contains forward-looking statements that relate to future events, including without limitation, statements regarding the intended use of proceeds from the offering. The Company disclaims any obligation to update this forward-looking information in the future. Readers are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including prevailing market conditions, as well as other factors. Certain risk factors that may affect our business operations, financial condition and results of operations are included in our filings with the SEC, including our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. View original content: http://www.prnewswire.com/news-releases/centene-corporation-prices-offering-of-common-stock-300640632.html SOURCE Centene Corporation

http://www.cnbc.com/2018/05/01/pr-newswire-centene-corporation-prices-offering-of-common-stock.html

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US and EU are at odds again over Airbus subsidies

The European Union told the World Trade Organization's dispute settlement body Monday that it had acted within days of a WTO ruling to bring its funding of planemaker Airbus into line with WTO rules, a trade official who attended the meeting said. The United States won a partial victory on May 15 against EU support for Airbus at the WTO, clearing the way for possible U.S. sanctions in a 14-year-old dispute over claims of illegal handouts for aircraft makers. The EU said last week it had taken steps to comply with the WTO ruling on subsidies for its A350, Europe's newest long-haul jet, and the A380, the world's largest airliner, and reiterated its efforts at a closed-door WTO meeting on Monday. The EU said it had made "contractual changes to the loan terms for the A380 and the A350XWB models of aircraft, where it was found that the repayable loans provided to Airbus for these aircrafts did not sufficiently reflect market conditions." But a U.S. representative at the WTO meeting said it was hard to give credence to the EU's assertion, after four previous rulings that had disagreed with similar EU claims to have brought Airbus's financing into line with market benchmarks. Under WTO rules, Washington could now ask the WTO to set a level of sanctions allowed against the EU. "To be clear, the U.S. preferred outcome is a mutually agreed solution with respect to aircraft financing," the U.S. official told the meeting. "The United States remains ready to hold serious discussions to achieve this goal." The United States is the target of a similar WTO complaint brought by the EU over U.S. support for Airbus's rival, Boeing , and the EU has said it expects to land a similar legal blow later this year. That could plunge the two sides into a tit-for-tat sanctions battle, or prompt what some trade experts have long expected: a trans-Atlantic deal on financing big civil aircraft. The U.S. official said Washington wanted to agree to a deal to avoid similar disputes over subsidies in future, although it was prepared to seek countermeasures on EU products if necessary. "But in our view, what is needed to resolve this dispute is not more WTO litigation but a real desire to resolve this dispute," the U.S. official said. An Airbus spokeswoman said the firm welcomed the U.S. proposal for a settlement, saying it would be a "wise way forward" and dismissing any grounds for U.S. countermeasures. Airbus and the EU have always been open to sit down and discuss a settlement with everything on the table and without any preconditions," she said. "If that is the case, we are happy to start a constructive discussion to find a solution to this long lasting dispute."

https://www.cnbc.com/2018/05/28/us-and-eu-are-at-odds-again-over-airbus-subsidies.html

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Elon Musk's first Boring tunnel to offer free rides 'in a few months'

Elon Musk's first Boring Co. tunnel under Los Angeles is "almost done" and set to offer free rides to the public "in a few months," the CEO said late Thursday in an Instagram post. "Super huge thanks to everyone that helped with this project," Musk said in a caption for a video racing through the tunnel. "Once fully operational (demo system rides will be free), the system will always give priority to pods for pedestrians and cyclists for less than the cost of a bus ticket." The 2.7-mile L.A. tunnel would be first to be completed of four such projects. It's billed as a "proof-of-process" tunnel in the company's large-scale plans for reducing transportation congestion and travel times. The company is also working on projects along the East Coast and in Chicago. The tunnels will eventually be a paid alternative to buses or subways. The Instagram video, posted around 11 p.m. ET Thursday, had garnered 1.8 million views within 10 hours. WATCH: Elon Musk's big ambitions may be killing Tesla show chapters Tesla's earnings were better than expected, but Elon Musk still has a lot on his plate 8:48 PM ET Wed, 2 May 2018 | 05:31

https://www.cnbc.com/2018/05/11/elon-musks-first-boring-tunnel-to-offer-free-rides-in-a-few-months.html

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Cornerstone OnDemand: 1Q Earnings Snapshot

SANTA MONICA, Calif. (AP) _ Cornerstone OnDemand Inc. (CSOD) on Tuesday reported a loss of $16.2 million in its first quarter. On a per-share basis, the Santa Monica, California-based company said it had a loss of 28 cents. Earnings, adjusted for stock option expense and restructuring costs, came to 13 cents per share. The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share. The developer of human-resources software posted revenue of $133.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $126.8 million. For the current quarter ending in July, Cornerstone OnDemand said it expects revenue in the range of $127 million to $129 million. The company expects full-year revenue in the range of $503 million to $511 million. Cornerstone OnDemand shares have increased 29 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $45.52, a rise of 18 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 CSOD at https://www.zacks.com/ap/CSOD

https://www.cnbc.com/2018/05/08/the-associated-press-cornerstone-ondemand-1q-earnings-snapshot.html

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PRESS DIGEST- British Business - May 28

May 28 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The owner of Clydesdale and Yorkshire banks is looking to sweeten its 1.6 billion pounds ($2.13 billion) offer for Virgin Money in a move that could create Britain's largest challenger bank. bit.ly/2xfbp97 The Guardian A standoff over Italy's future in the eurozone ended on Sunday night with the shock resignation of the country's populist prime minister-in waiting, Giuseppe Conte, after Italy's president refused to accept Conte's controversial choice for finance minister. bit.ly/2ITGfoY British Prime Minister Theresa May was facing growing demands to allow a referendum on relaxing the abortion laws in Northern Ireland on Sunday after signalling that she will not risk alienating her DUP allies by letting members of parliament settle the matter with a parliamentary vote. bit.ly/2IRHc16 The Telegraph A government review of the threats to press funding is considering a full competition investigation of Alphabet Inc's Google and Facebook Inc over their dominance of the digital advertising market. bit.ly/2IStFqh A host of business leaders have signed a letter urging Prime Minister May to hold a vote on Heathrow's expansion quickly. bit.ly/2xhWECB Sky News Scores of flights have been delayed at Stansted Airport after lightning hit the aircraft fuelling system, leaving planes unable to refuel. bit.ly/2xluV3O Smiths Group Plc has been holding preliminary talks with companies including Nasdaq-listed ICU Medical Inc about a possible combination of their healthcare operations. bit.ly/2IStFqh ($1 = 0.7516 pounds) Compiled by Bengaluru newsroom

https://www.reuters.com/article/britain-press-business/press-digest-british-business-may-28-idUSL3N1SZ00V

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China Zenix Auto International Limited Reports 21.8% Revenue Growth in 2018 First Quarter

- Revenue rose to RMB816.2 million (US$130.1 million) - - The Company's year-over-year net profit increased by 102.4% to RMB26.1 million (US$4.2 million) - ZHANGZHOU, China, May 17, 2018 /PRNewswire/ -- China Zenix Auto International Limited (NYSE: ZX) ("Zenix Auto" or "the Company"), the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume, today announced its unaudited financial results for the first quarter ended March 31, 2018. Financial Highlights First Quarter 2018: Revenue was RMB816.2 million (US$130.1 million), up 21.8% year-over-year; Sales to the Chinese OEM market increased by 33.8% year-over-year; Sales of aluminum wheels increased by 99.1% year-over-year; Gross margin was 15.4%; Net profit and total comprehensive income for the period was RMB26.1 million (US$4.2 million) with earnings per American Depositary Share ("ADS") of RMB0.51 (US$0.08) compared with a net profit and total comprehensive income of RMB12.9 million with earnings per ADS of RMB0.25 in the first quarter of 2017. Mr. Junqiu Gao, Deputy CEO and Chief Sales and Marketing Officer of Zenix Auto, commented, "The combined effects of the Chinese government's anti-truck overloading policy, supply-side reforms and higher fixed asset investments, revitalized new truck demand. Also, the aftermarket demand began to slowly rebound after the two past sluggish years. We expect the margin to continue to improve as the utilization rate of our aluminum wheel production line continues to rise, and product price adjustments continue." Mr. Martin Cheung, CFO of Zenix Auto, commented, "In an environment of high raw material costs, we proactively adjusted pricing of our end products. As a result, our gross margin improved from 14.7% in the fourth quarter of 2017 to 15.4% in the first quarter of 2018. In the meantime, our increased shipments of aluminum wheels also positively contributed to the overall margin improvement." 2018 First Quarter Results Revenue for the first quarter increased 21.8% to RMB816.2 million (US$130.1 million) from RMB 670.4 million in the first quarter of 2017. The increase in revenue on a year-over-year basis was mainly due to strong sales to the domestic truck OEM market which was driven by Chinese government's enforcement of its anti-truck overloading policy. The increase in total revenue was also attributable to the upward price adjustments in response to rising raw material costs. Sales to the Chinese OEM market increased by 33.8% year-over-year to RMB465.1 million (US$74.1 million) in the first quarter of 2018 compared to RMB347.6 million in the same quarter of 2017. Total unit sales in the OEM market increased by 11.6% year-over-year during the first quarter of 2018. Aftermarket sales in China increased by 9.7% year-over-year to RMB253.9 million (US$40.5 million) in the first quarter of 2018 from RMB231.5 million in the first quarter of 2017. Total unit sales in the aftermarket increased by 1.7% year-over-year as the aftermarket wheel segment began to recover after two sluggish years. International sales increased by 6.5% year-over-year to RMB97.2 million (US$15.5 million) in the first quarter of 2018 compared to sales of RMB91.2 million in the first quarter of 2017. Total unit sales in the international sales decreased by 3.6% year-over-year in the first quarter of 2018 mainly due to continued weak demand in Southeastern Asian countries. In the first quarter of 2018, domestic OEM sales, domestic aftermarket sales and international sales contributed 57.0%, 31.1% and 11.9% of revenue, respectively. Sales of tubed steel wheels accounted for 45.7% of 2018 first quarter revenue compared to 44.9% in the same quarter in 2017. Tubeless steel wheel sales represented 41.3% of 2018 first quarter revenue compared to 45.4% in the same quarter of 2017. While tubed and tubeless steel wheel sales remain the main sources of revenue for the Company, sales of aluminum wheels increased by 99.1% year-over-year and accounted for 9.5% of first quarter revenue as compared to 5.8% in the same quarter a year ago. The tightened regulation by the Chinese government to curb emissions and increase road safety continued to fuel high demand for light-weight tubeless and aluminum wheels. First quarter gross profit increased by 19.1% to RMB125.9 million (US$20.1 million), compared to RMB105.7 million in the same quarter in 2017. Gross margin was 15.4%, compared with 15.8% in the first quarter of 2017. The decrease in gross margin on a year-over-year basis was mainly due to higher raw material costs. The Company raised selling prices during the first quarter in all markets. However, in order to capture the aftermarket recovery, the price adjustment in this segment was not high enough to offset the increase in raw material costs, causing a slight deterioration in overall gross margin. Selling and distribution expenses increased by 6.1% to RMB45.0 million (US$7.2 million) from RMB42.4 million in the first quarter of 2017. The increase in selling and distribution expenses was primarily caused by higher sales in the first quarter of 2018 compared with the same quarter last year. As a percentage of revenue, selling and distribution expenses were 5.5% in the first quarter of 2018, compared to 6.3% in the same quarter a year ago. Research and development ("R&D") expenses decreased by 8.3% to RMB12.9 million (US$2.0 million), compared to RMB14.0 million in the first quarter of 2017. R&D as a percentage of revenue was 1.6% in the first quarter of 2018, compared to 2.1% in the same quarter a year ago. As the Company's aluminum and new steel products continue to mature, R&D expenses were reduced. Administrative expenses decreased by 2.9% to RMB30.7 million (US$4.9 million) from RMB31.6 million in the first quarter of 2017. As a percentage of revenue, administrative expenses were 3.8%, compared to 4.7% of revenue in the first quarter of 2017. Net income and total comprehensive income were RMB26.1 million (US$4.2 million) in the first quarter of 2018 compared to net income and total comprehensive income of RMB12.9 million for the first quarter of 2017. Basic and diluted income per ADS were RMB0.51 (US$0.08) in the first quarter of 2018 compared to basic and diluted income per ADS of RMB0.25 in the first quarter of 2017. In the first quarter of 2018, the Company recorded net cash flow from operating activities of RMB39.3 million (US$6.3 million). Higher sales to the domestic OEM market increased total account receivables and inventories. Days Sales Outstanding (DSO) remained at 58 days in the first quarter of 2018, slightly increased from 57 days for the full year of 2017. The Company did not incur any capital expenditures for the purchase of property, plant and equipment in the first quarter of 2018. During the first quarter of 2018 and 2017, the weighted average number of ordinary shares was 206.5 million and the weighted average number of ADSs was 51.6 million. As of March 31, 2018, Zenix Auto had bank balances and cash of RMB783.7 million (US$124.9 million) and fixed bank deposits with a maturity period over three months of RMB290.0 million (US$46.2 million). Total bank borrowings were RMB558.0 million (US$89.0 million). Total equity attributable to owners of the Company was RMB2,572.8 million (US$410.2 million). Conference Call Information The Company will host a conference call, to be simultaneously webcast, on Thursday, May 17, 2018 at 8:00 a.m. EDT/ 8:00 p.m. Beijing Time. Interested parties may participate in the conference call by dialing +1-877-407-0782 (U.S. Toll Free) or +1-201-689-8567 (International). Please dial in five minutes before the call start time and ask to be connected to the "China Zenix Auto" conference call. A replay will be available shortly after the conclusion of the conference call through June 17, 2018, at 8:00 a.m. EDT. Interested parties may access the replay by dialing +1-877-481-4010 (U.S. Toll Free) or +1-919-882-2331 (International) and using Conference ID 29037 to access the replay. Exchange Rate Information The United States dollar (US$) amounts disclosed in this press release are presented solely for the convenience of the reader. All translations from RMB to U.S. dollars are made at a rate of RMB6.2726 to US$1.00, the effective noon buying rate as of March 31, 2018 in The City of New York, for cable transfers of RMB as set forth in the H.10 weekly statistical release of the Federal Reserve Board. The percentages stated are calculated based on RMB amounts. About China Zenix Auto International Limited China Zenix Auto International Limited is the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume. The Company offers more than 798 series of aluminum wheels, tubed steel wheels, tubeless steel wheels, and off-road steel wheels in the aftermarket and OEM markets in China and internationally. The Company's customers include large PRC commercial vehicle manufacturers, and it also exports products to over 75 distributors in more than 28 countries worldwide. With six large, strategically located manufacturing facilities in multiple regions across China, the Company has a designed annual production capacity of approximately 15.5 million units of steel and aluminum wheels as of March 31, 2018. For more information, please visit: www.zenixauto.com/en . Safe Harbor This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of 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," "confident" and similar statements. The Company may make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these risks is included in our filings with the SEC. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law. For more information, please contact Kevin Theiss Awaken Advisors Tel: +1-(212) 521-4050 Email: Kevin.Theiss@awakenlab.com - tables follow - China Zenix Auto International Limited Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income For the three months ended March 31, 2018 and 2017 (RMB and US$ amounts expressed in thousands, except number of shares and ADSs and per share data) Three Months Ended March 31, 2017 Q1 2018 Q1 2018 Q1 RMB' 000 RMB' 000 US$' 000 Revenue 670,356 816,207 130,123 Cost of sales (564,640) (690,294) (110,049) Gross profit 105,716 125,913 20,074 Other operating income 6,416 4,174 665 Net exchange loss (306) (2,457) (392) Selling and distribution costs (42,435) (45,015) (7,176) Research and development expenses (14,017) (12,855) (2,049) Administrative expenses (31,621) (30,707) (4,895) Finance costs (5,290) (5,670) (904) Profit before taxation 18,463 33,383 5,323 Income tax expense (5,546) (7,235) (1,153) Profit and total comprehensive income for the period 12,917 26,148 4,170 Earnings per share Basic 0.06 0.13 0.02 Diluted 0.06 0.13 0.02 Earnings per ADS Basic 0.25 0.51 0.08 Diluted 0.25 0.51 0.08 Shares 206,500,000 206,500,000 206,500,000 ADSs 51,625,000 51,625,000 51,625,000 China Zenix Auto International Limited Unaudited Condensed Consolidated Statements of Financial Position (RMB and US$ amounts expressed in thousands) December 31, 2017 March 31, 2018 March 31, 2018 RMB'000 RMB'000 US$' 000 ASSETS Current Assets Inventories 178,034 248,831 39,670 Trade and other receivables and prepayments 900,162 937,899 149,523 Prepaid lease payments 9,425 9,425 1,503 Pledged bank deposits 35,200 39,800 6,345 Fixed bank deposits with maturity period over three months 290,000 290,000 46,233 Bank balances and cash 751,612 783,729 124,945 Total current assets 2,164,433 2,309,684 368,219 Non-Current Assets Property, plant and equipment 1,272,774 1,235,260 196,929 Prepaid lease payments 367,024 364,668 58,137 Deferred tax assets 25,500 26,127 4,165 Intangible assets 17,000 17,000 2,710 Total non-current assets 1,682,298 1,643,055 261,941 Total assets 3,846,731 3,952,739 630,160 EQUITY AND LIABILITIES Current Liabilities Trade and other payables and accruals 635,425 708,803 113,000 Amount due to shareholders 8,742 10,597 1,690 Taxation payable 3,573 8,606 1,372 Bank borrowings 558,000 558,000 88,958 Total current liabilities 1,205,740 1,286,006 205,020 Deferred tax liabilities 86,670 86,463 13,784 Deferred income 7,699 7,500 1,196 Total non-current liabilities 94,369 93,963 14,980 Total liabilities 1,300,109 1,379,969 220,000 EQUITY Share capital 136 136 22 Paid in capital 392,076 392,076 62,506 Reserves 2,154,410 2,180,558 347,632 Total equity attributable to owners of the company 2,546,622 2,572,770 410,160 Total equity and liabilities 3,846,731 3,952,739 630,160 China Zenix Auto International Limited Unaudited Condensed Consolidated Statement of Cash Flows For the three months ended March 31, 2018 (RMB and US$ amounts expressed in thousands) Three Months Ended OPERATING ACTIVITIES March 31, 2018 RMB' 000 US$' 000 Profit before taxation 33,383 5,323 Adjustments for: Amortization of prepaid lease payments 2,356 376 Depreciation of property plant and equipment 37,816 6,028 Release of deferred income (199) (32) Finance costs 5,670 904 Loss on disposal of property, plant and equipment 5 1 Interest income (3,272) (522) Operating cash flows before movements in working capital 75,759 12,078 Increase in inventories (70,797) (11,287) Increase in trade and other receivables and prepayments (39,508) (6,299) Increase in trade and other payables and accruals 73,378 11,698 Cash generated from operations 38,832 6,190 Interest received 3,559 567 PRC income tax paid (3,036) (484) NET CASH FROM OPERATING ACTIVITIES 39,355 6,273 INVESTING ACTIVITIES Placement of pledged bank deposits (4,600) (733) Proceeds on disposal of property, plant and equipment 39 6 Placement of fixed bank deposits with maturity periods over three months (240,000) (38,262) Withdrawal of fixed bank deposits with maturity periods over three months 240,000 38,262 NET CASH USED IN INVESTING ACTIVITIES (4,561) (727) FINANCING ACTIVITIES New bank borrowings raised (255,000) (40,653) Repayment of bank borrowings 255,000 40,653 Interest paid (6,016) (959) Advance from shareholder 1,855 296 NET CASH USED IN FINANCING ACTIVITIES (4,161) (663) NET INCREASE IN CASH AND CASH EQUIVALENTS 30,633 4,883 Cash and cash equivalents at beginning of the period 751,612 119,825 Effect of foreign exchange rate changes 1,484 237 Cash and cash equivalents at end of the period 783,729 124,945 View original content: http://www.prnewswire.com/news-releases/china-zenix-auto-international-limited-reports-21-8-revenue-growth-in-2018-first-quarter-300650100.html SOURCE China Zenix Auto International Limited

http://www.cnbc.com/2018/05/17/pr-newswire-china-zenix-auto-international-limited-reports-21-point-8-percent-revenue-growth-in-2018-first-quarter.html

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Programmatic & Digital Advertising Leader Adds Jenna Umbrianna Gino to Executive Suite

BOSTON, May 2, 2018 /PRNewswire/ -- Today, Anagram -- a digital media agency built for the modern marketing era, and part of the ispDigital group of digital marketing technology companies -- announced the hiring of Jenna Umbrianna Gino as Chief Client Officer. In her new role, she will be responsible for the design, development, and management of the company's customer experience delivery capabilities, as well as serve as executive-in-charge of client services. Jenna Umbrianna Gino brings a wealth of experience from all facets of the industry to Anagram, having worked at both globally recognized brands and large advertising agencies. Active at the intersection of marketing and technology for a decade, she's one of only a handful of industry executives who have managed the design, launch and operation of two successful programmatic trading desks -- first at Hill Holliday, a unit of IPG, and then at Affiperf, a division of Havas. Both IPG and Havas are among the leading five advertising agencies in the world. "I'm thrilled to be joining Anagram," says Jenna Umbrianna Gino. "I'm excited about the company's strategic direction of meeting the marketing demands of the modern era. I appreciate how its leadership embraces fully transparent client communication strategies, and has created a company culture that facilitates recruitment of top talent." Joe Zawadzki , CEO and Founder of programmatic industry leader MediaMath, remarked, "I, and all of us at MediaMath, have been fortunate to work with Jenna for the past decade. We are excited for Jenna, for Anagram, and for the industry. Her ability to not only envision a better world for marketing, but to drive teams, clients, and partners toward that vision and ideal state is a rare and deeply needed gift." Before joining Anagram, Jenna Umbrianna Gino served as Partner and Research Director at Invisible Science, a research and advisory firm focused exclusively on programmatic marketing. Previously, she was Senior Vice President and General Manager at Havas -- one of the world's largest advertising agencies -- where she managed programmatic strategy and trading activities across the North American client roster. Jenna Umbrianna Gino has also held a variety of marketing and advertising roles at Hill Holliday, a top 20 agency in the U.S and part of the IPG network. "We're very fortunate to be adding Jenna to the executive team," says Adam Cahill , Founder and CEO of Anagram. "Her addition immediately strengthens our client strategy and service capabilities. Jenna is one of the pioneers in the programmatic industry, and we know our clients will enjoy more success with her on board." About Anagram Anagram is a digital media agency built for the modern marketing era, with data and technology at our core. As marketing becomes more complex, we find that our client's needs are quite varied, and tend to evolve over time. In some cases, we operate as a full-service digital media agency of record, planning, buying and optimizing campaigns across all digital channels. In others, we provide strategic counsel and systems integration services, assisting our clients as they build their internal capabilities. We've built our company around biddable media from day one: the way we work, the technologies we use, and the talent we hire are all oriented around an approach that is data-driven, fast, fluid, and outcome-obsessed. Anagram is an ispDigital Group Company . For more information, visit us at www.anagram.io and follow us on Twitter @AnagramLLC . Related Links https://anagram.io/our-team/ https://www.linkedin.com/in/jennaumbrianna/ View original content with multimedia: http://www.prnewswire.com/news-releases/programmatic--digital-advertising-leader-adds-jenna-umbrianna-gino-to-executive-suite-300640595.html SOURCE Anagram

http://www.cnbc.com/2018/05/02/pr-newswire-programmatic-digital-advertising-leader-adds-jenna-umbrianna-gino-to-executive-suite.html

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Corcentric Announces Acquisition of Source One Management Services

CHERRY HILL, N.J., May 14, 2018 /PRNewswire/ -- Corcentric, a leading provider of procurement and financial process automation solutions, today announced that it has acquired Source One Management Services, LLC, a leading tech-enabled procurement services provider delivering cost reduction and savings through strategic sourcing and procurement transformation. Based out of Willow Grove, PA, and Chicago, IL, Source One adds a strong Fortune 1000 customer base representing manufacturing, finance, life sciences, retail, CPG, and more industries to Corcentric's roster of more than 6,000 customers. Source One is an industry-recognized thought leader in the procurement space, and brings sourcing-related services and technology to complement Corcentric's procure-to-pay solutions. "When Source One was founded, its mission was to be the best procurement services provider - quality and service being paramount in executing our work," said Steven Belli, CEO of Source One. "Sharing our focus on innovation and customer service, Corcentric gives us an opportunity to expand our sourcing and procurement optimization services to more customers and across larger sets of spend data. We're thrilled to be part of the team." "The acquisition of Source One was a natural fit for Corcentric and we are excited to add their sourcing and procurement expertise to our portfolio of procure-to-pay solutions," commented Matt Clark, President and COO of Corcentric. "As companies look to gain more visibility into their spend and better manage cash flow, the acquisition of Source One gives us an opportunity to share our innovations with more customers while increasing value across finance and procurement." About Corcentric Corcentric is a leading provider of procurement and finance solutions that transform how companies purchase, pay, and get paid. Corcentric's procurement, accounts payable, and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. Since 1996, more than 6,000 customers from the middle market to the Fortune 1000 have used Corcentric to reduce costs and improve working capital. Learn more at corcentric.com , or follow Corcentric on LinkedIn at https://www.linkedin.com/company/corcentric . This year, the company unified its AmeriQuest and Corcentric brands under the Corcentric name, emphasizing its commitment to helping companies to unlock new potential within their enterprise. About Source One Source One Management Services, a Corcentric company, is a premier procurement services provider and strategic sourcing consulting firm. Since 1992, Source One's team of spend management experts has supported best-in-class organizations in optimizing spend management and procurement operations. Source One serves as an expansion of client's existing teams, saving them time and resources by applying collective experience, tools, cross-industry best practices, and customized solutions. To learn more, visit sourceoneinc.com . Media Contacts David Saba Director of Public Relations, Garfield P (800) 608-0809 (646) 300-0779 corcentric.com dsaba@garfieldgroup.com View original content with multimedia: http://www.prnewswire.com/news-releases/corcentric-announces-acquisition-of-source-one-management-services-300647328.html SOURCE Corcentric

http://www.cnbc.com/2018/05/14/pr-newswire-corcentric-announces-acquisition-of-source-one-management-services.html

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PRECIOUS-Gold slips as dollar hits 2018 high, Iran tensions underpin

May 8, 2018 / 10:35 AM / Updated 2 hours ago PRECIOUS-Gold flat after dollar hits 2018 high; Iran tensions underpin Reuters Staff 3 Min Read * Market awaits Trump decision on Iran nuclear deal * Spot gold may revisit May 1 low of $1,301.51/oz - technicals (Updates prices, headline; adds comment, second byline, NEW YORK to dateline) By Renita D. Young and Maytaal Angel NEW YORK/LONDON, May 8 (Reuters) - Gold prices were flat following a brief increase on Tuesday after the U.S. dollar backed down from a new 2018 high as worries hovered that the United States may be set to pull out of a key nuclear accord with Iran. Spot gold was flat at $1,313.76 per ounce by 1:32 p.m. EDT (1732 GMT), while U.S. gold futures for June delivery settled down $0.40, or 0.03 percent, at $1,313.70 per ounce. U.S. President Donald Trump is expected to announce at 2 p.m. EDT (1800 GMT) that he is pulling out of the Iran nuclear deal, European officials said, after they struggled to persuade him that the accord has halted Iran's nuclear ambitions. "If Trump pulls out, I reckon gold will pop higher, but I doubt it will stay elevated for too long," said Forex.com's Fawad Razaqzada. The decisions to leave the accord should raise risk aversion in the broader markets, helping gold, seen as a safe asset that holds its value in times of geopolitical turmoil, though bullion is still pressured by a stronger dollar, in which it is priced. "It must be the dollar which is providing the major influence on (gold's) direction," said Razaqzada. "However, gold has held its own relatively better than the euro in the dollar's slipstream, suggesting that there is a degree or two of safe haven flows into the precious metal." Against a commodity basket, the greenback earlier surged to a 2018 high helped by safe haven flows linked to the Trump announcement on Iran and as expectations that other major central banks would follow the footsteps of the U.S. Federal Reserve in normalising monetary policy have been dashed. India's gold imports in April fell for a fourth straight month from a year ago to 57 tonnes, on subdued demand after local prices jumped to 21 month highs, provisional data from consultancy GFMS and bank dealers showed. In 2018, gold will deliver its strongest annual price performance in five years, GFMS analysts forecast, as political uncertainty drives investment in bars and bullion-backed funds. Spot gold may revisit its May 1 low of $1,301.51 per ounce as it twice failed to break resistance at $1,317, Reuters technical analyst Wang Tao said. 0 Silver rose 0.2 percent at $16.47 an ounce, earlier hitting close to a one-week low at $16.30. Platinum gained 0.5 percent at $912.20 per ounce. Palladium fell 0.1 percent at $970.70 an ounce. (Additional reporting by Apeksha Nair in Bengaluru, editing by Jon Boyle, Richard Balmforth and Cynthia Osterman)

https://www.reuters.com/article/global-precious/precious-gold-slips-as-dollar-hits-2018-high-iran-tensions-underpin-idUSL8N1SF3PB

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Lennox International Increases Dividend 25 Percent

DALLAS, May 15, 2018 /PRNewswire/ -- The board of directors of Lennox International Inc. (NYSE: LII) voted to increase the quarterly cash dividend 25 percent to $0.64 per share of common stock. The dividend is payable on July 13, 2018, to stockholders of record as of June 29, 2018. Lennox International Inc. is a global leader in the heating, air conditioning, and refrigeration markets. Lennox International Inc. stock is listed on the New York Stock Exchange and traded under the symbol "LII". Contact: Steve Harrison, Vice President, Investor Relations of Lennox International Inc., 972-497-6670. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Lennox International's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. View original content with multimedia: http://www.prnewswire.com/news-releases/lennox-international-increases-dividend-25-percent-300648923.html SOURCE Lennox International Inc.

http://www.cnbc.com/2018/05/15/pr-newswire-lennox-international-increases-dividend-25-percent.html

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HHS' Alex Azar addresses drug prices at World Health Care Congress

President Donald Trump , who has repeatedly attacked pharmaceutical companies for "getting away with murder," wants to do more to address drug prices, Health and Human Services Secretary Alex Azar said Wednesday. HHS is working with Trump to create a comprehensive strategy to address issues that are causing ever-increasing drug prices, Azar said in a speech at the World Health Care Congress. The agency will build on proposals laid out in Trump's budget proposal for 2019, he said. "But I can assure you the president wants to go further. Much further. Action is desperately needed," Azar said. "There's little access for a sick patient between a miracle cure that hasn't been discovered and one that is too expensive to use." Trump criticism of drug prices includes chastising foreign countries for setting price controls on medication and "freeloading" on American innovation. show chapters Trump's drug pricing plan not so bad for pharma 9:01 AM ET Mon, 12 Feb 2018 | 01:22 The Trump administration plans to address high list prices and rising out-of-pocket costs for consumers, said Azar, a former executive at pharmaceutical company Eli Lilly . He said it's possible to lower prices without inhibiting research and development. "I believe we can lower the cost of medicine while still promoting research that will transform the future of health care going forward," Azar said. "Doing both is the only way forward." The administration will also address the issue of seniors in government programs overpaying for drugs due to lack of negotiating of negotiating tools, Azar said. He has rejected the idea of allowing Medicare to directly work with manufacturers on prices. However, the administration's 2019 budget called for some changes. That includes moving some costly drugs from Medicare Part B to Medicare Part D, where private insurers who administer plans can negotiate with manufacturers. Azar said the administration wants to tackle the problem of foreign governments "freeriding" on American investment and innovation. The White House released a white paper in February calling for a way to get foreign countries to pay more for drugs. Trump is expected to address drug prices in a speech next week. He's given his administration "a very strong mandate" to do something about fixing the health-care system, Azar said. "The time has simply come for this to happen. The status quo just cannot hold," Azar said. "The way we do business in American health care, from insurance to (information technology) to drug pricing to patient billing, has got to change."

https://www.cnbc.com/2018/05/02/hhs-alex-azar-addresses-drug-prices-at-world-health-care-congress.html

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ANALYSIS-Dollar recovery seen as an earnings risk on horizon

NEW YORK, May 30 (Reuters) - Late last month, the chief financial officer at Akamai Technologies Inc identified an emerging risk for the network technology company's profit outlook: the U.S. dollar. Specifically, the surprisingly strong American dollar. "We do expect some currency headwinds from the recent strengthening of the U.S. dollar over the last couple of weeks," Akamai CFO James Benson told analysts on an earnings conference call at the end of April. Akamai, like hundreds of big U.S. companies, enjoyed a sales and profit boost from the dollar's steep decline through last year and into the first quarter of 2018. But the greenback's downtrend abruptly reversed course in April as U.S. interest rates shot higher and European economic growth slowed. It now stands at the highest level in nearly seven months, meaning foreign currency earnings of U.S. multinationals can be worth less when translated back to dollars. The dollar index, which measures the greenback against a basket of six currencies, has gained nearly 6 percent since April 17 but remains down about 2.7 percent year over year, as of Tuesday's close. "It's too early to say we're going to see that impact show up in this next quarter, but I think we'll probably see it if it persists in the third quarter," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago, referring to U.S. quarterly results. Against the euro, the greenback is down 3.2 percent year-over-year, compared with a year-over-year decline of 14 percent in mid April. It hit a 10-month high on Tuesday as investors balked at the prospect of repeat elections in Italy, which may become a de facto referendum on Italian membership of the currency bloc. Analysts expect profit growth for S&P 500 companies to begin to slow, according to Thomson Reuters data, with first quarter's 26.3 percent increase possibly representing a peak for the current earnings up trend. S&P 500 earnings have gained year-over-year since the third quarter of 2016. They are forecasting profit growth of 22 percent for all of 2018 and 2019 growth to slow to 9.5 percent, based on the data. The first-quarter jump in earnings - the biggest year-over-year increase since the fourth quarter of 2010 - was largely due to the corporate tax cuts that went into effect this year. But Bank of America Merrill Lynch estimates currency moves in the first quarter provided a 2 percentage-point benefit to sales growth, the biggest boost from currency changes in six years. The bank has estimated that in general a sustained 10 percent appreciation in the dollar results in a reduction in S&P 500 earnings per share of 3 to 4 percent. Companies from many industries pointed to the dollar as a benefit to sales and earnings in the first quarter, including Apple Inc, Bristol-Myers Squibb Co, Mattel Inc , PayPal Holdings Inc, Tapestry Inc and Intuitive Surgical Inc. In Akamai's case, it added 5 percentage points to first-quarter profit and 2 points to its sales. For Facebook Inc, a weaker dollar in the first quarter added $536 million to its revenue, increasing the social media company's top line by 49 percent, instead of 42 percent without the foreign exchange effect. S&P 500 companies that generate 50 percent or more of their revenue outside the United States are on track for a first-quarter earnings increase of 30.5 percent, while companies that generate less than 50 percent of their revenue outside the United States are on track for a 24.8 percent earnings increase, based on Thomson Reuters data. Analysts estimate that between 40 percent to 50 percent of S&P 500 sales come from abroad, with Asia and Europe accounting for the biggest portion. "If the political situation in Italy worsens, the longer-term spillovers would be felt in the U.S. via a stronger dollar and lower European growth. This would act as a headwind, especially for some multinationals' corporate profits," said Mohamed El-Erian, chief economic adviser at Allianz in Newport Beach, California. To be sure, many analysts are skeptical the dollar strength will persist. Sameer Samana, global equity and technical strategist at Wells Fargo Investment Institute in St. Louis, said he expects the dollar to decline into the year end, citing pressure from the U.S. deficit. Yet, at its current pace, the dollar index could turn positive on a year-over-year basis sometime later this quarter or early in the third quarter. Karl Schamotta, director of global product and market strategy at Cambridge Global Payments, in Toronto, said he had seen an increase in hedging activity, particularly companies that are exposed to a falling euro and Canadian dollar. "Both of these factors are driving a pretty pronounced increase in hedging activity using forwards and options," said Schamotta, referring to companies' use of derivatives to minimize foreign exchange risks. Some equity strategists said next year could be the bigger problem if the dollar continues on its current path. "If you measure on a year-over-year basis, the comps are going to look terrible," said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas. (Reporting by Caroline Valetkevitch and Saqib Iqbal Ahmed; additional reporting by Noel Randewich in San Francisco, and Lewis Krauskopf, Chuck Mikolajczak, Sinead Carew, April Joyner and Jennifer Ablan in New York; Editing by Alden Bentley and Susan Thomas)

https://www.cnbc.com/2018/05/30/reuters-america-analysis-dollar-recovery-seen-as-an-earnings-risk-on-horizon.html

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US activist fund Elliott to vote against Hyundai restructuring plan

U.S. activist fund Elliott Management said it will vote against Hyundai Motor's restructuring plan and urged other shareholders to reject the proposal to reform South Korea's second-largest conglomerate. A Hyundai Motor executive responded that the proposed arrangements to simplify the automaker's complex ownership structure would not change and promised higher returns for shareholders. "Elliott is one of many people who express their opinions," Cheong Jin-haeng, president of Hyundai Motor, told reporters on the sidelines of an industry event. Measures to boost investor returns would be laid out after a meeting on May 29 where shareholders will vote on the restructuring, he added. Elliott said in a statement late on Thursday that the restructuring plan was "based on flawed assumptions" and the conglomerate's "token measures" to buy back and cancel shares were not enough to achieve fair value for investors. "More significant measures are needed to address the long-unresolved issues at the group that have led to significant valuation discounts and underperformance at Hyundai Mobis, Hyundai Motor and Kia," Elliott said. Under the plan, auto-parts maker Hyundai Mobis will spin off its domestic module and after-service parts businesses and merge them with Hyundai Glovis, a logistics firm. Elliott says it holds over 1.5 percent of common shares in Hyundai Mobis. Hyundai Motor Chairman Chung Mong-koo and the group's affiliates own a total 30 percent stake in Mobis, which will put the spin-off plan to a shareholder vote. The state-run National Pension Service holds a nearly 10 percent stake in Hyundai Mobis. Elliott, which disclosed in April that it holds more than $1 billion worth of shares in three key affiliates of Hyundai Motor, previously called on the company to adopt a holding company strategy and appoint more independent board members. It is Elliott's latest challenge to South Korea's powerful family-run conglomerates after it forced Samsung Electronics to increase shareholder returns in 2017, and comes amid a government campaign to boost investors' power in a country where shareholder activism is rare. In 2015, Elliott narrowly lost a battle to block the merger of two Samsung affiliates. The deal was later implicated in a corruption scandal which led to the jailing of the country's former president and bribery charges against Samsung Group heir Jay Y. Lee, who denies any wrongdoing. Elliott is seeking compensation from the government of no less than $670 million as part of an ongoing legal dispute over the 2015 merger, according to a letter seen by Reuters. Hyundai Motor said in late April it would cancel $890 million worth of treasury shares, its first stock cancellation in 14 years. Hyundai Mobis said earlier this month it would cancel about 600 billion won ($562 million) in treasury shares from next year, and pay dividends in more installments. Shares in Hyundai Motor were 0.3 percent higher, compared to the wider market's 0.5 percent rise as of 0124 GMT. Hyundai Mobis were up 1.3 percent, while Kia Motors was up 0.5 percent. "Elliott's stakes in Hyundai Motor Group companies are known to be small. The move was expected," said Esther Yim, an analyst at Samsung Securities.

https://www.cnbc.com/2018/05/11/us-activist-fund-elliott-to-vote-against-hyundai-restructuring-plan.html

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UPDATE 2-U.S. jury awards Apple $539 mln in Samsung patent retrial

(Adds comment from Samsung) May 24 (Reuters) - After nearly five days of deliberations, a U.S. jury on Thursday said Samsung Electronics Co Ltd should pay $539 million to Apple Inc for copying patented smartphone features, according to court documents, bringing a years-long feud between the technology companies into its final stages. The worlds top smartphone rivals have been in court over patents since 2011, when Apple filed a lawsuit alleging Samsungs smartphones and tablets slavishly copied its products. Samsung was found liable in a 2012 trial, but a disagreement over the amount to be paid led to the current retrial over damages where arguments ended on May 18. Samsung previously paid Apple $399 million to compensate Apple for infringement of some of the patents at issue in the case. The jury has been deliberating the case since last week. Because of that credit, if the verdict is upheld on appeal it will result in Samsung making an additional payment to Apple of nearly $140 million. In a statement, Apple said it was pleased that the members of the jury "agree that Samsung should pay for copying our products." "We believe deeply in the value of design," Apple said in its statement. "This case has always been about more than money." Samsung did not immediately say whether it planned to appeal the verdict but said it was retaining "all options" to contest it. Todays decision flies in the face of a unanimous Supreme Court ruling in favor of Samsung on the scope of design patent damages," Samsung said in a statement. "We will consider all options to obtain an outcome that does not hinder creativity and fair competition for all companies and consumers. The new jury verdict followed a trial in San Jose, California, before Judge Lucy Koh that focused on how much Samsung should pay for infringing Apple patents covering aspects of the iPhone's design. The jury awarded Apple $533.3 million for Samsung's violation of so-called design patents and $5.3 million for the violation of so-called utility patents. Apple this year told jurors it was entitled to $1 billion in profits Samsung made from selling infringing phones, saying the iPhone's design was crucial to their success. Samsung sought to limit damages to about $28 million, saying it should only pay for profits attributable to the components of its phones that infringed Apple patents. Jurors in the earlier trial awarded $1.05 billion to Apple, which was later reduced. Samsung paid $548 million to Apple in December 2015, including $399 million for infringement of some of the patents at issue in this week's trial. Apples case against Samsung raised the question of whether the total profits from a product that infringes a design patent should be awarded if the patent applies only to a component of the product, said Sarah Burstein, a professor of patent law at the University of Oklahoma. The verdict appears to be a compromise between Apple and Samsung's positions and does not offer much clarity on that question, said Burstein, who predicted Samsung would appeal it to the U.S. Court of Appeals for the Federal Circuit. This decision just means we are going to have more uncertainty, Burstein said. "Smart tech industry players are waiting to see what the Federal Circuit does. This is just one jury applying one test." (Reporting by Stephen Nellis in San Francisco and Jan Wolfe in New York; Editing by Lisa Shumaker)

https://www.cnbc.com/2018/05/24/reuters-america-update-2-u-s-jury-awards-apple-539-mln-in-samsung-patent-retrial.html

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CORRECTED-UPDATE 3-China's files mega Hong Kong tech IPO, lifts lid on financials

lid on financials@ (Corrects to remove incorrect reference to Xiaomi making 60 percent of its profit from internet services in paragraph 15) * Expected to be largest China tech listing since 2014 * IPO to raise around $10 bln, could launch end-June - sources * Big win for HK amid global battle for tech listings * Posts 114.6 bln yuan in 2017 revenue, up 68 pct yoy * Posts 2017 net loss of 44 bln yuan vs 2016 net profit of 492 bln BEIJING/HONG KONG, May 3 (Reuters) - Smartphone and connected device maker Xiaomi filed for a Hong Kong initial public offering on Thursday that could raise $10 billion and become the largest listing by a Chinese technology firm in almost four years. Xiaomi's IPO, which will be one of the first in Hong Kong under new rules to attract tech firm listings, is a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland. The listing is expected to raise about $10 billion via the public offering, giving Beijing-based Xiaomi a market value of between $80 billion and $100 billion, people familiar with the plans told Reuters. Those targets, if achieved, will make it the biggest Chinese tech IPO since Chinese internet giant Alibaba Group Holding Ltd raised $21.8 billion in 2014. Xiaomi's prospectus gave investors the first detailed look at its financial health ahead of the much-hyped IPO, which could be launched as soon as end-June, according to the people close to the process who requested anonymity as the details were not yet public. The numbers underscore how Xiaomi has remained resilient even as the global smartphone market has slowed, helped in part by a push overseas into markets like India. The company said its revenue was 114.62 billion yuan ($18 billion) in 2017, up 67.5 percent against 2016. Operating profit for 2017 was 12.22 billion yuan, up from 3.79 billion yuan a year ago. It made a net loss of 43.89 billion yuan versus a profit of 491.6 million yuan in 2016, though this was impacted by the fair value changes of convertible redeemable preference shares. Alongside smartphones, Xiaomi makes dozens of internet-connected home appliances and gadgets, including scooters, air purifiers and rice cookers, although it derives most of its profits from internet services. Its relatively cheap handsets pose a rising challenge to market leaders Samsung Electronics Co Ltd and Apple Inc . Xiaomi doubled its shipments in 2017 to become the world's fourth-largest smartphone maker, according to Counterpoint Research, defying a global slowdown in smartphone sales. It is also making a big push outside China's borders, with 28 percent of its sales derived from overseas markets last year, up from 6.1 percent in 2015. Yet margins on its smartphones are razor-thin. Xiaomi posted a gross profit margin of just 8.8 percent for its smartphone business in 2017 compared to 60 percent for its internet services business. According to some analyst estimates, Apple's flagship iPhone X and iPhone 8 have gross margins of around 60 percent. Xiaomi's internet services include gaming and advertising linked to its homegrown user interface, MIUI, which had 190 million monthly active users as of March 2018. DUAL-CLASS SHARES Xiaomi's listing plans come as the company and its investors look to capitalise on a bull run for the Hong Kong market, which has seen the benchmark Hang Seng Index rise about 27 percent over the past year. Armed with the new rules allowing the listing of companies with dual-class structures, Hong Kong is eyeing several tech listings that are expected in the coming two years from Chinese firms with a combined market cap of $500 billion. Xiaomi said in its IPO application the company would have a weighted voting rights (WVR) structure, or dual-class shares. The WVR give greater power to founding shareholders even with minority shareholding. The structure would allow the company to benefit from the "continuing vision and leadership" of the dual-class share beneficiaries, who would control the company for its "long-term prospects and strategy", it said. Dual-class shares have been a contentious topic in Hong Kong since the city's strict adherence to a one-share-one-vote principle cost it the float of Alibaba, which instead listed in New York. Xiaomi is also likely to be among the first Chinese tech firms seeking a secondary listing in its home market, using the planned China depositary receipts route, two people with knowledge of the matter said. CLSA, Morgan Stanley and Goldman Sachs Group Inc are sponsoring Xiaomi's IPO. ($1 = 6.3610 Chinese yuan) (Reporting by Cate Cadell in Beijing, Julie Zhu in Hong Kong and Rushil Dutta in Bengaluru; Writing by Sumeet Chatterjee; Editing Stephen Coates)

https://www.cnbc.com/2018/05/03/reuters-america-corrected-update-3-chinas-xiaomi-files-for-mega-hong-kong-tech-ipo-lifts-lid-on-financials.html

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Amazon to open checkout-free stores in Chicago and San Francisco

May 15 (Reuters) - Amazon.com Inc is bringing its grocery store without checkout lines to Chicago and San Francisco, the company said in a statement this week, confirming reports it will expand the concept beyond its pilot in Seattle. Known as Amazon Go, the store is fashioned after small grocery shops with a crucial difference: it has no cashiers. Customers scan a smartphone app to enter the store, and then cameras and sensors track what they remove from the shelves and what they put back. Amazon then bills shoppers' credit cards on file after they leave. It was not clear when the new stores will open. Amazon posted job listings for Amazon Go store managers in San Francisco and Chicago last month. News of the listings was reported by The Seattle Times on Monday. The concept has the potential to alter brick-and-mortar retail and has spawned similar designs from startups hoping to sell the technology to other retailers. (Reporting By Jeffrey Dastin in San Francisco, Editing by Rosalba O'Brien)

https://www.cnbc.com/2018/05/15/reuters-america-amazon-to-open-checkout-free-stores-in-chicago-and-san-francisco.html

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QIAGEN: Disclosure according to Article 5 Section (1) and (6) of the EU Regulation 596/2014 and Article 2 Section (1) of the Delegated EU Regulation 2016/1052/ Share Repurchase

VENLO, Netherlands--(BUSINESS WIRE)-- QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announces that it will initiate the repurchase of a first tranche of shares under the share repurchase program which was announced by an ad hoc announcement dated January 31, 2018. In the time period between May 15, 2018 until August 20, 2018, at the latest, a first tranche of up to 1.65 million common shares of the Company having a total purchase price of up to USD 50 million (or the equivalent Euro amount thereof, in each case without ancillary purchasing costs) shall be repurchased exclusively on the electronic trading platform of the Frankfurt Stock Exchange (XETRA). The maximum purchase price per share (excluding ancillary purchase costs) will not exceed the average closing price for the last five trading days prior to the day of purchase on the electronic trading platform of the Frankfurt Stock Exchange by more than 10%. The purpose of the share repurchase is to hold the shares in treasury in order to satisfy obligations from exchangeable debt instruments and/or employee share-based remuneration plans. The Managing Board of QIAGEN N.V., upon authorization of the Supervisory Board, is thus exercising the authorization by the Annual General Meeting on June 21, 2017 to acquire own shares. The full statement can be found here ### View source version on businesswire.com : https://www.businesswire.com/news/home/20180514006013/en/ QIAGEN Investor Relations John Gilardi e-mail: ir@qiagen.com +49 2103 29 11711 or Public Relations Dr. Thomas Theuringer e-mail: pr@qiagen.com +49 2103 29 11826 Source: QIAGEN

http://www.cnbc.com/2018/05/15/business-wire-qiagen-disclosure-according-to-article-5-section-1-and-6-of-the-eu-regulation-5962014-and-article-2-section-1-of-the.html

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Momo Announces Unaudited Financial Results for the First Quarter 2018

BEIJING, May 29, 2018 /PRNewswire/ -- Momo Inc. (NASDAQ: MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the first quarter 2018. First Quarter 2018 Highlights Net revenues increased 64% year over year to $435.1 million. Net income attributable to Momo Inc. increased to $129.9 million in the first quarter of 2018 from $81.2 million in the same period last year. Non-GAAP net income attributable to Momo Inc. (note 1) increased 57% to $142.3 million in the first quarter of 2018 from $90.7 million in the same period last year. Diluted net income per American Depositary Share ("ADS") was $0.63, compared to $0.40 in the same period last year. Non-GAAP diluted net income per ADS (note 1) was $0.69, compared to $0.44 in the same period last year. Monthly Active Users ("MAU") [1] were 103.3 million in March 2018, compared to 85.2 million in March 2017. Total paying users of our live video service and value-added service, without double counting the overlap, were 8.1 million for the first quarter of 2018, compared to 7.0 million for the first quarter of 2017. [1] MAU during a given calendar month is defined as Momo users who accessed the Momo platform through Momo mobile application and utilized any of the functions on the Momo platform for at least one day during the 30-day period counting back from the last day of such calendar month. The active users on Hani, the Company's stand-alone live video application, were not included in the MAU disclosed herein. "We had another strong quarter and a great start to the year 2018. I am glad to see that we have achieved outstanding results on all strategical priorities we outlined at the beginning of the year. Our community continued to grow in size and engagements despite the negative seasonality, thanks to the product and marketing initiatives we have been taking in recent quarters. The content ecosystem continues to improve, driving robust organic growth momentum for live streaming business. Strong topline performance, coupled with the operating leverage of our business model creates ample room for us to make significant investment for our future while maintaining a healthy profit margin. " Commented Yan Tang, Chairman and CEO of Momo. "We closed the acquisition of Tantan in May and together will be moving forward as a dominant player in China's open social territory. Tantan has made remarkable progresses in user growth and monetization since the beginning of 2018. We believe Tantan has a great deal of potential to be unlocked and will be adding tremendous value to our ecosystem in the future." First Quarter 2018 Financial Results Net revenues Total net revenues were $435.1 million in the first quarter of 2018, an increase of 64% from $265.2 million in the first quarter of 2017. Live video service revenues continued its momentum and the total live video service revenues were $371.5 million in the first quarter of 2018, an increase of 74.8% from $212.6 million during the same period of 2017. The rapid growth in live video revenues was contributed by the increase in the quarterly paying users, which was 4.4 million for the first quarter of 2018, as well as, the increase in the average revenues per paying user per quarter. Value-added service revenues mainly include membership subscription revenues and virtual gift revenues. The total value-added service revenues were $37.0 million in the first quarter of 2018, an increase of 62% from $22.9 million during the same period of 2017. The year over year increase was primarily driven by the increase in the number of paying users, and to a lesser extent, the increase in the average revenues per paying user per quarter with the result that we introduced more and more value-added services to our users to enrich communication experience among users. Total paying users of our value-added service were 5.1 million and 4.3 million for the first quarter of 2018 and 2017, respectively. Mobile marketing revenues were $18.7 million in the first quarter of 2018, an increase of 5% from $17.9 million during the same period of 2017. The growth in mobile marketing revenues was driven by the increased demand from brand marketers. Mobile games revenues were $6.6 million in the first quarter of 2018, a decrease of 43% from $11.6 million in the first quarter of 2017. The decrease in game revenues was mainly due to the decrease in the quarterly paying users. Cost and expenses Cost and expenses were $288.7 million in the first quarter of 2018, an increase of 65% from $175.1 million in the first quarter of 2017. The increase was primarily attributable to: (a) an increase in revenue sharing with the broadcasters related to our live video service and virtual gift recipients; (b) an increase in personnel related costs including share-based compensation expenses as a result of the Company's rapidly expanding talent pool; (c) an increase in marketing and promotional expenses to enhance our brand awareness, attract users and promote the live video service; (d) increased infrastructure related spending, such as short messaging service charges, bandwidth costs and server depreciation costs, driven by more functions introduced on Momo's platform. Non-GAAP cost and expenses (note 1) were $276.3 million in the first quarter of 2018, an increase of 67% from $165.6 million during the same period last year. Income from operations Income from operations was $147.5 million in the first quarter of 2018, compared to $91.0 million during the same period last year. Non-GAAP income from operations (note 1) was $159.9 million in the first quarter of 2018, compared to $100.6 million during the same period last year. Income tax expenses Income tax expenses were $26.9 million in the first quarter of 2018, increased from $15.8 million in the first quarter of 2017. The increase was mainly because we generated higher profit in the first quarter of 2018. Net income attributable to Momo Inc. Net income attributable to Momo Inc. was $129.9 million in the first quarter of 2018, compared to $81.2 million during the same period last year. Non-GAAP net income (note 1) attributable to Momo Inc. was $142.3 million in the first quarter of 2018, compared to $90.7 million during the same period last year. Net income per ADS Diluted net income per ADS was $0.63 in the first quarter of 2018, compared to $0.40 in the first quarter of 2017. Non-GAAP diluted net income per ADS (note 1) was $0.69 in the first quarter of 2018, compared to $0.44 in the first quarter of 2017. Cash and cash flow As of March 31, 2018, Momo's cash, cash equivalents, term deposits and restricted cash totaled $969.4 million, compared to $1,059.6 million as of December 31, 2017. Net cash provided by operating activities in the first quarter of 2018 was $129.9 million, compared to $95.4 million for the same quarter of 2017. Recent Development Drawdown of Long-term Bank Loan To facilitate the closing of our acquisition of 100% equity stake of Tantan Limited, as previously announced on February 23, 2018, we borrowed a bank loan facility from a domestic commercial bank in May 2018. Total amount of drawdown was US$300 million, with a fixed interest rate of 4.5% per annum and with a period of two years. Business Outlook For the second quarter of 2018, the Company expects total net revenues to be between $470.0 million and $485.0 million, representing a year-over-year increase of 51% to 55%. Our revenue guidance includes around $4.5 million revenue from Tantan for the month of June 2018 which we expect to consolidate in our financial statement of the second quarter of 2018. These estimates reflect the Company's current and preliminary view, which is subject to change. Note 1: Non-GAAP measures To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures. Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. Our non-GAAP information (including non-GAAP cost and operating expenses, income from operations, net income attributable to Momo Inc., and diluted earnings per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation, and such adjustment has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation charge has been and will continue to be for the foreseeable future a significant recurring expense in our results of operations. We compensate for these limitations by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release. Conference Call Momo's management will host an earnings conference call on Wednesday, May 29, 2018 at 8: 00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on May 29, 2018). 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 Please dial in 15 minutes before the call is scheduled to begin. 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 Momo is a leading mobile social networking platform in China. Momo connects people in a personal and lively way through a revolutionary mobile-based social networking platform. With powerful and precise location-based features, Momo enables users to connect with each other and expand relationships from online to offline. Momo's platform includes the Momo mobile application, the Hani mobile application and a variety of related features, functionalities, tools and services that it provides to users, customers and platform partners. Leveraging its social interest graph engine and analysis of user behavior data, Momo is able to provide users a customized experience based on their social preferences and needs. Momo users can maintain and strengthen their relationships through private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on Momo's platform. Momo users are also able to enjoy live video on our platform. For more information, please visit http://ir.immomo.com . For investor and media inquiries, please contact: Momo Inc. Investor Relations 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 Safe Harbor Statement This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management Quote: s and our financial outlook for the second quarter of 2018. Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the first quarter of 2018 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the second quarter of 2018 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. In addition, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, and our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release. Momo Inc. Unaudited Condensed Consolidated Statement of Operations (US dollars in thousands, except per share data) Three months ended March 31 2017 2018 Net revenues: Live video service 212,577 371,496 Value-added service 22,867 36,991 Mobile marketing 17,889 18,709 Mobile games 11,561 6,647 Other services 344 1,286 Total net revenues 265,238 435,129 Cost and expenses: Cost of revenues (120,444) (209,608) Research and development (8,559) (17,533) Sales and marketing (33,997) (44,342) General and administrative (12,100) (17,231) Total cost and expenses (175,100) (288,714) Other operating income 905 1,087 Income from operations 91,043 147,502 Interest income 3,752 7,540 Income before income tax and share of income on equity method investments 94,795 155,042 Income tax expenses (15,777) (26,905) Income before share of income on equity method investments 79,018 128,137 Share of income on equity method investments 2,183 1,279 Net income 81,201 129,416 Less: Net loss attributable to non-controlling interest (7) (468) Net income attributable to Momo Inc. 81,208 129,884 Net income per share attributable to ordinary shareholders Basic 0.21 0.33 Diluted 0.20 0.31 Weighted average shares used in calculating net income per ordinary share Basic 389,835,182 399,002,678 Diluted 410,884,521 415,045,295 Momo Inc. Unaudited Condensed Consolidated Statement of Comprehensive Income (US dollars in thousands, except per share data) Three months ended March 31 2017 2018 Net income 81,201 129,416 Other comprehensive income, net of tax of $nil Foreign currency translation adjustment 2,263 26,754 Comprehensive income 83,464 156,170 Less: comprehensive loss attributed to the non-controlling interest (7) (368) Comprehensive income attributable to Momo Inc. shareholders 83,471 156,538 Momo Inc. Unaudited Condensed Consolidated Balance Sheets ( US dollars in thousands) December 31 March 31 2017 2018 Assets Current assets Cash and cash equivalents 685,827 320,488 Term deposits 373,794 578,938 Restricted cash - 70,000 Accounts receivable, net of allowance for doubtful accounts of $90 and $93 as of December 31, 2017 and March 31, 2018, respectively 39,597 32,587 Prepaid expenses and other current assets 82,717 74,798 Amount due from related parties 5,143 6,518 Short-term investment 1,614 - Total current assets 1,188,692 1,083,329 Property and equipment, net 39,762 45,005 Intangible assets 7,462 7,512 Rental deposits 2,651 2,697 Long term investments 44,337 50,436 Deferred tax assets, non-current 7,197 6,195 Other non-current assets 8,495 16,182 Goodwill 3,401 3,528 Prepaid acquisition consideration - 229,823 Total assets 1,301,997 1,444,707 Liabilities and equity Current liabilities Accounts payable 74,535 82,535 Deferred revenue 64,865 61,926 Accrued expenses and other current liabilities 87,809 64,251 Amount due to related parties 5,804 5,800 Income tax payable 27,033 17,434 Total current liabilities 260,046 231,946 Deferred tax liabilities, non-current 1,866 1,878 Other non-current liabilities 2,305 4,170 Total liabilities 264,217 237,994 Shareholder's equity (Note a) 1,037,780 1,206,713 Total liabilities and shareholder's equity 1,301,997 1,444,707 Note a: As of March 31, 2018, the number of ordinary shares issued and outstanding was 402,129,737. Momo Inc. Unaudited Condensed Consolidated Statement of Cash Flows ( US dollars in thousands) Three months ended March 31 2017 2018 Cash flows from operating activities: Net income 81,201 129,416 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of property and equipment 2,122 4,954 Amortization of intangible assets - 226 Share-based compensation 9,509 12,382 Share of income on equity method investment (2,183) (1,279) Changes in operating assets and liabilities: Accounts receivable 3,910 8,379 Prepaid expenses and other current assets (4,575) 8,996 Amount due from related parties (337) (1,169) Rental deposits (1,169) 53 Deferred tax assets 73 1,254 Other non-current assets (733) (1,814) Accounts payable 6,456 8,871 Income tax payable 9,797 (10,236) Deferred revenue (424) (5,287) Accrued expenses and other current liabilities (8,932) (26,618) Amount due to related parties (255) (5) Deferred tax liability - (56) Other non-current liabilities 902 1,865 Net cash provided by operating activities 95,362 129,932 Cash flows from investing activities: Purchase of property and equipment (7,204) (10,115) Proceeds from disposal of property and equipment 4 1 Payment for long term investments (1,515) (630) Prepayment of long term investments - (7,398) Payment for acquired intangible assets (578) - Prepaid consideration for business acquisition - (229,823) Purchase of term deposits (261,787) (572,421) Cash received on maturity of term deposits 304,607 375,092 Cash received from sales of short term investment - 1,653 Net cash provided by (used in) investing activities 33,527 (443,641) Cash flows from financing activities: Proceeds from exercise of options 299 384 Deferred payment of purchase of property and equipment (174) (1,153) Net cash provided by (used in) financing activities 125 (769) Effect of exchange rate on cash and cash equivalents 2,121 19,139 Net increase (decrease) in cash, cash equivalent and restricted cash 131,135 (295,339) Cash, cash equivalent, and restricted cash at beginning of period 257,564 685,827 Cash, cash equivalent, and restricted cash at end of period 388,699 390,488 Momo Inc. Reconciliation of Non-GAAP financial measures to comparable GAAP measures (US dollars in thousands, except per share data) 1. Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures. Three months Three months ended March 31, 2017 ended March 31, 2018 GAAP Adjustments Non- GAAP GAAP Adjustments Non- GAAP Cost and operating expenses (175,100) 9,509 (a) (165,591) (288,714) 12,382 (b) (276,332) Income from operations 91,043 9,509 (a) 100,552 147,502 12,382 (b) 159,884 Net income attributable to Momo Inc. 81,208 9,509 (a) 90,717 129,884 12,382 (b) 142,266 Notes: (a) Adjustments to exclude share-based compensation of $9,509 from the unaudited condensed consolidated statements. (b) Adjustments to exclude share-based compensation of $12,382 from the unaudited condensed consolidated statements. View original content: http://www.prnewswire.com/news-releases/momo-announces-unaudited-financial-results-for-the-first-quarter-2018-300655605.html SOURCE Momo Inc.

http://www.cnbc.com/2018/05/29/pr-newswire-momo-announces-unaudited-financial-results-for-the-first-quarter-2018.html

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PRESS DIGEST - Wall Street Journal - May 3

May 3, 2018 / 4:34 AM / Updated 22 minutes ago PRESS DIGEST - Wall Street Journal - May 3 Reuters Staff 2 Min Read May 3 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Sprint Corp's Chief Executive Marcelo Claure said he would step back from the wireless company's day-to-day management to take a senior role at its Japanese parent company as he leads the carrier's campaign for regulatory approval of a $26 billion merger with rival T-Mobile US Inc.( on.wsj.com/2I6MsAW ) - Facebook Inc has fired an employee who bragged about his access to private user information. ( on.wsj.com/2HLHD0s ) - Southwest Airlines Co said Wednesday that one of its jets was forced to divert and land after a cabin window partially broke, though the plane didn't lose cabin pressure.( on.wsj.com/2HKuzbQ ) - The U.S. oil-and-gas industry is bringing in an outsider as its top lobbyist. Mike Sommers, 43, a lobbyist for the private-equity industry and once chief of staff to former House Speaker John Boehner, will take over at the American Petroleum Institute this summer. ( on.wsj.com/2HLz5a3 ) Compiled by Bengaluru newsroom

https://www.reuters.com/article/press-digest-wsj/press-digest-wall-street-journal-may-3-idUSL3N1SA213

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CEE MARKETS-Turkish lira's plunge hits risk appetite, dollar rally weighs

* Lira's drop to all-time lows feeds risk aversion * Currencies approach multi-month lows as dollar rallies * Crown joins zloty and forint fall, reaches weakest 2018 level * Czech bond auction may draw less demand on increased supply By Sandor Peto and Jason Hovet BUDAPEST/PRAGUE, May 23 (Reuters) - Central Europe's main currencies approached multi-month lows on Wednesday as weak manufacturing data knocked the euro down further against the dollar, while the Turkish lira's persistent decline fuelled risk aversion in emerging markets. The region's assets have taken a beating this month as a dollar and U.S. bond yield rally prompted a sell-off in emerging markets, but they have outperformed other emerging markets including Turkey, where the lira is at record lows on concern about President Tayyip Erdogan's influence on monetary policy. Politics rarely have a direct influence on markets in the European Union's fast-growing and relatively stable economies which have been tightly integrated with the euro zone. Continued dollar buying sent the region's most liquid currencies, the forint and the zloty into retreat at the opening. Losses for the relatively stable crown widened after May Purchasing Managers' Index (PMI) data showed a sharper-than-expected slowdown in growth in the euro zone, Central Europe's main export market and a major financier of its investments. By 0847 GMT, the crown traded at 25.724 against the euro, down 0.1 percent, rebounding from an intraday low of 25.8547, its weakest level this year, while the zloty fell half a percent, the forint a third of a percent, and the leu 0.1 percent. Thin trade contributed to the crown's initial weakness, one Prague-based dealer said. Dividend outflows are also weighing on the crown, while some investors have closed crown positions on the view that the Czech central bank (CNB) may well not raise interest rates earlier than November, Komercni Banka analysts said in a note. But ING economist Jakub Seidler said any crown weakening would be temporary. "The domestic economic development still requires tighter monetary conditions which are not being delivered by the crown at the moment," he said. Demand at Czech government bond auction might be weaker than usual, as more issuance was due in June as part of a rise in planned quarterly sales, Komercni said in a separate note. Raiffeisen analyst Gunter Deuber said in a note that the crown's appreciation potential made Czech bonds attractive. The yield on 5-year Czech bonds was bid higher by 7 basis points (bps), at 1.475 percent, while the corresponding Polish yield dropped 1 bps to 2.51 percent. Warsaw led a fall for equities in the region, in tandem with a decline in Western European markets, with its blue-chip index dropping 1.4 percent. CEE SNAPSHOT AT MARKETS 1047 CET CURRENCI ES Latest Previous Daily Change bid close change in 2018 Czech <EURCZK= 25.7240 25.6950 -0.11% -0.71% crown > Hungary <EURHUF= 318.9900 317.9500 -0.33% -2.53% forint > Polish <EURPLN= 4.3030 4.2814 -0.50% -2.94% zloty > Romanian <EURRON= 4.6310 4.6270 -0.09% +1.05% leu > Croatian <EURHRK= 7.3850 7.3832 -0.02% +0.61% kuna > Serbian <EURRSD= 118.0500 118.1300 +0.07% +0.38% dinar > Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2018 Prague 1104.00 1103.290 +0.06% +2.40% 0 Budapest 35943.80 36400.77 -1.26% -8.72% Warsaw 2216.93 2248.71 -1.41% -9.93% Bucharest 8377.22 8429.08 -0.62% +8.04% Ljubljana <.SBITOP 897.08 896.06 +0.11% +11.25% > Zagreb 1854.79 1859.77 -0.27% +0.65% Belgrade <.BELEX1 744.88 743.26 +0.22% -1.96% 5> Sofia 642.91 644.44 -0.24% -5.10% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=R 1.0050 0.1200 +162bps +14bps R> 5-year <CZ5YT=R 1.4750 0.0700 +160bps +11bps R> 10-year <CZ10YT= 1.9890 0.0050 +148bps +6bps RR> Poland 2-year <PL2YT=R 1.6160 0.0090 +223bps +3bps R> 5-year <PL5YT=R 2.5100 -0.0110 +263bps +3bps R> 10-year <PL10YT= 3.2330 -0.0130 +273bps +4bps 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 1.74 1.76 1.83 1.70 Note: FRA are for ask prices Quote: s

https://www.reuters.com/article/easteurope-markets/cee-markets-turkish-liras-plunge-hits-risk-appetite-dollar-rally-weighs-idUSL5N1SU2NS

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WRAPUP 3-Trump to reveal decision, Europeans doubt he will stick with

nuclear deal@ * Pullout would stoke Middle East strains * Iranians fear fresh U.S. sanctions, rial slumps * Critics say Trump pullout would hit N.Korea talks * End of deal would remove tough nuclear inspection regime (Adds Netanyahu, Bagheri, IAEA, North Korea) WASHINGTON, May 8 (Reuters) - U.S. President Donald Trump will announce on Tuesday whether he will pull out of the Iran nuclear deal or stay in and work with European allies who have struggled to persuade him that it has halted Iran's nuclear ambitions. Trump has consistently threatened to pull out of the 2015 agreement because it does not address Iran's ballistic missile program or its role in wars in Syria and Yemen, and does not permanently prevent Tehran from developing nuclear weapons. European leaders have warned that a U.S. withdrawal would undo years of work that led to and sustained a landmark deal that has kept nuclear weapons out of Iran's hands But a senior French official doubted Trump had taken heed of European concerns. "I think in Washington it was quite clear the president was convinced that Trump was heading to a negative decision so we have been preparing more aggressively the hypotheses of a partial or total pullout", the official said. Two other European officials also said they expected Trump to pull out of the accord. Such a move could ratchet up tensions in a region riven with interrelated wars, including the multi-layered conflict in Syria where Iran's presence has brought it into conflict with Israel. Reflecting those strains, Iran's Armed Forces Chief Major General Mohammad Bagheri said Iran's military power would defuse any threat to Tehran, while accused Iran of deploying "very dangerous weapons" in Syria to threaten Israel. A decision to quit the deal could also rattle oil markets due to Iran's role as a major exporter, and critics say it could also harm Trump's efforts to reach a deal in nuclear talks with North Korea, a prospect he has dismissed. "This deal ... is a factor of peace and stabilisation in a very eruptive region," French Defence Minister Florence Parly told RTL radio. Trump, in a tweet on Monday, said he would make the announcement at 2 p.m. (1800 GMT) on Tuesday. Iran suggested its economy would not be hurt whatever happened, but its rial was near record lows against the dollar in the free market as Iranians tried to buy hard currency, fearing financial turmoil if Trump quits the deal. "We are prepared for all scenarios. If America pulls out of the deal, our economy will not be impacted," central bank chief Valiollah Seif said on state television. 'STAND ON OUR OWN FEET' "One man in one country might create some problems for us for a few months, but we will overcome those problems," President Hassan Rouhani said. "If we are under sanctions or not, we should stand on our own feet." A senior U.S. official close to the process said France, Germany and Britain had moved significantly to address Trump's concerns over the ballistic missile program, the terms under which international inspectors visit suspect Iranian sites and "sunset" clauses under which some terms of the deal expire. The deal, negotiated during the administration of Trump's Democratic predecessor, Barack Obama, eased economic sanctions on Iran in exchange for Tehran limiting its nuclear program. Trump has called it the "worst deal ever negotiated" and he wants Britain, France and Germany - which also signed the pact along with Russia and China - to toughen up the terms. In the past few weeks, Trump has consulted with leaders of all three countries. Still, European diplomats privately said they expected Trump to leave the agreement. Two White House officials and a source familiar with the debate inside the administration said last week Trump had all but decided to pull out. Under the deal, known as the Joint Comprehensive Plan of Action (JCPOA), the United States committed to ease a series of U.S. sanctions on Iran and it has done so under "waivers" that effectively suspend them. WAIVERS International Atomic Energy Agency (IAEA) chief Yukiya Amano has said in Iran his agency had the world's most robust nuclear verification regime. If the deal were to fail it would be "a great loss". Trump has until Saturday to decide whether to extend the waivers or withdraw and reintroduce sanctions related to Iran's central bank and Iranian oil exports. That would dissuade foreign companies from doing business with Iran because they could be subject to U.S. penalties. Rouhani suggested on Monday that Iran might remain in the nuclear deal even if Trump abandons it and imposes sanctions. But he also warned that Tehran would fiercely resist U.S. efforts to limit its influence in the Middle East. The Kremlin said on Tuesday a U.S. withdrawal from the nuclear deal would have harmful consequences. Israel is widely believed to be the only nuclear-armed state in the Middle East, although it neither confirms nor denies possessing atomic weapons. Financial markets are watching Trump's decision closely. On Tuesday, oil retreated from 3-1/2 year highs as investors waited for Trump's statement. (Additional reporting by Arshad Mohammed in Washington, Sybille de La Hamaide and John Irish in Paris, Parisa Hafezi in Ankara, Bozorgmehr Sharafedin in London, Andrew Torchia in Dubai, Writing by William Maclean, Editing by Janet Lawrence)

https://www.cnbc.com/2018/05/08/reuters-america-wrapup-3-trump-to-reveal-iran-decision-europeans-doubt-he-will-stick-with-nuclear-deal.html

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2018 Ford Expedition Max review

Mack Hogan | @macklinhogan Published 1 Hour Ago The Expedition is incredibly impressive, with composed road manners and a driving experience that is years ahead of similar body-on-frame trucks. With Ford's latest powerplant technology and all of the convenient tech features consumers want, the Expedition represents the modern choice among full-size SUVs that often feel behind the times. At $75,260 as-tested, the Expedition is pricey even for the segment. It justifies the cost, but it's still a big check to write. Mack Hogan | CNBC The 2018 Ford Expedition MAX After a decade of iterative changes, the Ford Expedition finally received a full top-to-tires redesign. With fresh, all-aluminum skin and a powertrain designed around Ford's wonderful 3.5-liter EcoBoost motor, the Expedition represents the modern choice in a segment that typically tends toward primitive design. It's great to look at, comfortable and quiet to drive and topped off with all the technology you'd expect of a luxury SUV. The 2018 Expedition is easily the class leader, years ahead of competitors. If you're alright with the price, we absolutely recommend it. The Good Mack Hogan | CNBC The 2018 Ford Expedition MAX The first thing that you notice about the Expedition is its size. We tested the Expedition MAX, the extended version with an even more massive cargo area. Size-wise, it's comparable to a Chevy Suburban rather than the smaller Tahoe. If you need to fit a massive amount of people and things inside a vehicle you can't really best an Expedition. Seven adults can fit without complaint, with a massive cargo area on deck to swallow their things. Mack Hogan | CNBC The 2018 Ford Expedition MAX The cabin is also refreshing, with a panoramic roof helping to brighten the passenger compartment. The new Expedition has a higher-quality interior and a more modern design than earlier versions. Ford's Sync 3 infotainment system lives in the Expedition's center screen, and we're happy to report that it's easy to use and quick-responding. Mack Hogan | CNBC The 2018 Ford Expedition MAX The Expedition's fully-redesigned body is more muscular and clean than in years past. It's particularly impressive that this MAX version of the truck still looks handsome and well-proportioned. Mack Hogan | CNBC The 2018 Ford Expedition MAX The most important change to the new Expedition is how it drives. Segment stalwarts have often been described as lumbering, bouncy or otherwise sloppy. The Expedition is solid and composed on the road. Despite its size, the rigidity of the Expedition means it never suffers from the shake or flex you might expect of a vehicle in this class. Mack Hogan | CNBC The 2018 Ford Expedition MAX The powertrain also copes with the heft quite well. Once again, Ford deploys its excellent 3.5-liter EcoBoost V6 for propulsion duty making 375 horsepower. It's mated to a 10-speed automatic transmission co-developed with GM. With a whopping 470 lb-ft of torque and 10 cogs at its disposal, the Expedition never feels out of breath. The Bad Mack Hogan | CNBC The 2018 Ford Expedition MAX This power comes at a cost. Fuel economy is unlikely to be a high priority for buyers of a truck this size, but it was hard to hit the Expedition 4x4's claimed 17/23 city/highway fuel economy figure. Especially at high speeds, the aerodynamics of a truck this big are hard to argue with and we struggled to crack 20 miles per gallon. That's still good for the class. The Expedition MAX only really has one direct competitor, but its price point is noticeably higher. Our Expedition MAX Limited 4x4 costs $75,260 and isn't quite top-of-the-line, while a Suburban with every substantive package and option comes in around $72,000. The Expedition is worth the extra cash. How you should configure it Mack Hogan | CNBC The 2018 Ford Expedition MAX Start with an Expedition MAX XLT 4x4, assuming you need the space. Add $5,605 for package 202A, which brings leather, blind spot monitoring, upgraded infotainment, heated and cooled seats, dual zone climate control, a power-folding third row, remote start and other quality-of-life upgrades. $715 buys you the driver assistance package, which brings lane keeping, adaptive cruise control, rain sensing wipers and pre-collision warning into the mix. That brings our total to a clean $65,000. Final Thoughts Mack Hogan | CNBC The 2018 Ford Expedition MAX The Expedition isn't cheap, but it offers good value in the segment. $65,000 for a truck that looks as good as the Expedition, can tow 9,000 pounds, seat eight people and drives well is impressive enough that we recommend it. Rating:

https://www.cnbc.com/2018/05/04/2018-ford-expedition-max-review.html

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After-hours buzz: CBS, SHAK, P & more

Les Moonves, president and chief executive officer of CBS Corp. Check out the companies making headlines after the bell : CBS stock rose 2 percent in the extended session on earnings and revenue that both exceeded analyst expectations, but the company's stock later gave up its gains. Full-year guidance remained below estimates and second-quarter guidance was weak. The television broadcasting company said that its direct-to-consumer services are growing rapidly, bringing in substantial income and attracting younger viewers. Average rate per subscriber is also increasing. Shake Shack shares jumped more than 8 percent after hours. The fast-casual restaurant chain beat Wall Street expectations on top and bottom lines. It also reported bigger same-store growth than anticipated and strong full-year guidance. Shares of Pandora Media surged more than 6 percent in extended trading. The streaming service company reported a loss that was smaller than expected and surpassed estimates on revenue. Strong advertising revenue helped boost its bottom line and total listener hours were also higher than expected. Weight Watchers stock jumped more than 7 percent after the bell, following all-over positive earnings. The weight loss company's earnings and revenues were also higher than expected. Full-year guidance was raised as the company reached an all-time record with 4.6 million subscribers, up 29 percent year-over-year. GoPro shares soared as much as 8 percent post-market on a big revenue beat and a smaller loss per share than expected, but its stock later gave up its gains. The technology company's revenues are still down 7 percent from a year ago, but the company cites big discounts as it tries to compete with discount retailers. Operating expenses have greatly decreased, though. Twitter stock sank 1 percent in the extended session after disclosing a password storage glitch . The social media company does not believe user accounts were affected but still recommends users change their passwords. Shares of Fluor plummeted nearly 13 percent after hours on mixed earnings. The engineering and construction firm beat estimates on revenue but missed on earnings. CEO David Seaton attributed the poor results to "continued challenges on a gas-fired power project." Full-year earnings guidance was also cut by $1.

https://www.cnbc.com/2018/05/03/after-hours-buzz-cbs-shak-p-more.html

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Top 10 US cities where your paycheck goes the furthest

In some cities, it's easier to stretch a dollar than in others, thanks to a wide range of factors that can make the overall cost of living more expensive or more affordable. To determine where the most affordable places are, financial website GOBankingRates, using data from the U.S. Census Bureau and Sperling's Best Places , analyzed the three largest cities in every state and ranked affordability based on median household income, median monthly homeowner costs and median gross rent. Using those factors, it then scored each city's overall cost of living on a scale ranging from a low score of 79.70 in Rockford, Illinois, to the highest score of 145.60 in Hilo, Hawaii. Based on that ranking, here are the top 10 cities where your paycheck could go the furthest: Fort Wayne, Indiana Median household income: $44,449 Median monthly homeowner costs: $938 Median gross rent: $670 Cost of living score: 81.20 Parkersburg, West Virginia Median household income: $34,296 Median monthly homeowner costs: $838 Median gross rent: $607 Cost of living score: 80.20 Fort Smith, Arkansas Median household income: $35,956 Median monthly homeowner costs: $950 Median gross rent: $617 Cost of living score: 82.10 show chapters How much more it costs to own vs. rent in your state 1:24 PM ET Fri, 7 April 2017 | 01:23 Aberdeen, South Dakota Median household income: $46,330 Median monthly homeowner costs: $1,079 Median gross rent: $602 Cost of living score: 94.70 Davenport, Iowa Median household income: $48,191 Median monthly homeowner costs: $1,141 Median gross rent: $707 Cost of living score: 89.50 Springfield, Missouri Median household income: $33,769 Median monthly homeowner costs: $911 Median gross rent: $676 Cost of living score: 84.30 Wichita, Kansas Median household income: $46,775 Median monthly homeowner costs: $1,184 Median gross rent: $716 Cost of living score: 84.60 show chapters Professionals in these cities take home the most money after rent and taxes 11:06 AM ET Tue, 21 March 2017 | 00:51 Green Bay, Wisconsin Median household income: $43,473 Median monthly homeowner costs: $1,173 Median gross rent: $655 Cost of living score: 87.30 Great Falls, Montana Median household income: $43,497 Median monthly homeowner costs: $1,149 Median gross rent: $613 Cost of living score: 95.40 Rockford, Illinois Median household income: $40,143 Median monthly homeowner costs: $1,132 Median gross rent: $728 Cost of living score: 79.70 Like this story? Like CNBC Make It on Facebook ! Don't miss: 5 US states where you only need to make about $40,000 a year to afford the average home Video by Mary Stevens and Andrea Kramar show chapters Location alone won't determine if your home is a great investment, but this will 9:20 AM ET Tue, 21 March 2017 | 01:05

https://www.cnbc.com/2018/05/01/top-10-us-cities-where-your-paycheck-goes-the-furthest.html

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China's 360 Security to raise up to $1.7 billion in private share placement for tech projects

SINGAPORE (Reuters) - Chinese Internet security firm 360 Security Technology Inc said it plans to raise up to 10.8 billion yuan ($1.69 billion) in a private placement of shares to fund projects in fast-growing areas such as artificial intelligence and big data. 360 Security Technology plans to issue up to 1.35 billion shares to investors such as asset management companies, brokerages and trusts, it said in a filing to the Shanghai stock exchange on Tuesday. The exact pricing has yet to be finalised. The company plans to use the money raised to fund nine projects in areas such as Internet security, artificial intelligence, big data and online entertainment platforms, it said. The plan is still pending approval from shareholders and the China Securities Regulatory Commission. Trading in its shares will resume on Wednesday after a suspension since May 2. Reporting by Lee Chyen Yee in SINGAPORE; Editing by Adrian Croft

https://www.reuters.com/article/us-360-placement/chinas-360-security-to-raise-up-to-1-7-billion-in-private-share-placement-for-tech-projects-idUSKCN1IG2B3

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PRECIOUS-Gold dips on revived hopes of U.S.-N.Korea summit

* Trump says U.S. team in N.Korea to prepare for proposed summit * Specs cut net long position in COMEX gold to 10-month low (Adds details, updates prices) By Swati Verma BENGALURU, May 28 (Reuters) - Gold prices fell for a second straight session on Monday as political tensions eased after revived hopes of a U.S.-North Korea summit. Spot gold declined 0.4 percent to $1,296.20 per ounce at 0700 GMT, while U.S. gold futures for June delivery fell 0.6 percent to $1,295.60 per ounce. "It looks like there is some chance of a meeting between the U.S. and North Korea leaders, that would lower the geopolitical risks and lessen the appeal of gold," said John Sharma, an economist with National Australia Bank, adding that a strong dollar was also pressuring prices. The dollar index , which measures the greenback against a basket of six major currencies, stood at 93.961, not far from 94.298 hit on Friday, its highest since Nov. 14. Trump on Thursday called off a planned summit with North Un, which lifted gold above $1,300 an ounce level. The yellow metal gained about 0.7 percent last week, in its biggest weekly gain since the week ended April 13. However, Trump on Sunday said that a U.S. team had arrived in North Korea to prepare for the summit between him and Kim Jong Un. "Risk sentiment has opened in a much friendly place this morning as a relief rally has ensued with the Trump-Kim summit back on, while the EU is in the midst of a relief rally after Paolo Savona was not endorsed for finance minister in Italy," said Stephen Innes, APAC trading head at OANDA. Efforts to form a coalition government in Italy collapsed on Sunday after its president rejected a eurosceptic pick for the key economy ministry, triggering a possible constitutional crisis and opening the prospect of fresh elections. Meanwhile, holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 0.42 percent to 848.50 tonnes on Friday. Speculators trimmed their net long position in COMEX gold by 3,800 contracts to 27,527 contracts in the week to May 22, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday. This was the smallest position since July 2017. Silver speculators cut net short position by 15,620 contracts to 432 contracts, according to the data. This was the smallest position since February 2014. Spot silver was down 0.1 percent at $16.47 per ounce. Platinum gained 0.8 percent to $903.70 per ounce, while palladium was up 0.2 percent at $981.50. Trading volumes are expected to be low as the New York and London markets are closed on Monday for public holidays. (Reporting by Swati Verma in Bengaluru Editing by Joseph Radford and Subhranshu Sahu)

https://www.reuters.com/article/global-precious/precious-gold-dips-on-revived-hopes-of-u-s-n-korea-summit-idUSL3N1SZ1RN

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Druckenmiller-backed crypto start-up looks to solve bitcoin's volatility problem

2 Hours Ago | 04:08 A cryptocurrency project backed by billionaire Stanley Druckenmiller and Federal Reserve chair runner-up Kevin Warsh is looking to rid the market of one massive problem: volatility. Bitcoin has a fixed supply, so, when demand for it rises, bitcoin's price goes up, and the opposite is true when demand drops. The cryptocurrency project, called Basis, aims to keep a stable value around $1 by increasing and shrinking supply, the company's founder told CNBC Friday. "It does it in a way that's actually analogous to how central banks grow and shrink the money supply to also maintain price stability," Nader Al-Naji, Basis co-founder and CEO told CNBC's Power Lunch . "What we're trying to do is make cryptocurrency useful." Bitcoin prices fluctuated dramatically in the past 12 months, and have fallen by roughly 50 percent since their high near $20,000 in December, according to CoinDesk. That volatility has made it impossible to do things like pay salaries in bitcoin, said Al-Naji. "If the price goes down, you're going to miss rent because that one bitcoin isn't worth very much," he said. "If it goes up your employer is also going to be upset because he feels you're being paid too much." Al-Naji quit his job as an engineer at Google last year to found Basis with fellow Princeton graduates Lawrence Dio and Josh Chen. Bain Capital Ventures led the $133 million private placement, which was the firm's first purchase of cryptocurrency tokens. Other investors in Basis included Alphabet's GV venture capital arm and Andreessen Horowitz. Druckenmiller and Warsh have both bashed bitcoin for recent volatility. Adam Jeffery | CNBC Nader Al-Naji, CEO of Basis Druckenmiller told CNBC in December that bitcoin cannot be a medium of exchange "because you can't do transactions, particularly retail transactions, with this kind of volatility," adding that he didn't own any of the cryptocurrency. Warsh said in a March Wall Street Journal opinion piece that cryptocurrency "price volatility significantly diminishes its usefulness as a reliable unit of account or an effective means of payment." "But a new generation of cryptocurrencies is on the horizon, some of which might possess more of the attributes of money, better satisfying bitcoin's founding purpose," Warsh wrote. In countries like the U.S., where citizens have access to a relatively stable currency, Basis might not have as much of an appeal versus the dollar. Al-Naj saw more potential disruption in emerging markets. "In developing countries, the most stable currency they have access to is actually devaluing at a rate of 5 percent or more," Al-Naj said. "We're targeting emerging markets, I think that's really going to be the killer."

https://www.cnbc.com/2018/05/04/crytpto-start-up-looks-to-solve-bitcoins-volatility-problem.html

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Hedge fund Third Point reportedly seeks to launch 'blank-check' company

Daniel Loeb 's activist hedge fund Third Point is in talks with investment banks about launching a "blank check" company that would raise money in an initial public offering to pursue an acquisition, according to people familiar with the matter. The new investment vehicle, referred to on Wall Street as a special purpose acquisition company (SPAC), would be the first of its kind to be raised by an activist hedge fund such as Third Point, which acquires stakes in public companies to pressure them to pursue changes or seek board representation. A SPAC uses proceeds from its IPO, together with borrowed funds, to acquire companies that are usually privately held. Investors in the IPO do not know in advance which company a SPAC will buy, although many outline in advance the sectors they want to be active in. It is not clear what kind of companies Third Point's SPAC would target. Third Point is in talks with investment banks about arranging the SPAC's IPO later this year, which could raise hundreds of millions of dollars, the sources said, asking not to be identified because the deliberations are confidential. New York-based Third Point declined to comment. show chapters Dan Loeb's Third Point files 13F 7:35 PM ET Thu, 9 Nov 2017 | 00:55 The SPAC is an attempt by Third Point to diversify its revenue stream, as returns from its flagship hedge fund, which has returned 15.6 percent on average over its lifespan, have flattened this year amid jitters in the stock market. Founded by Loeb in 1995, Third Point has close to $18 billion in assets under management. Its investments have included Netflix Inc, Nestle SA, Sony Corp and Yahoo Inc. Before sponsoring its own SPAC, Third Point invested in Nomad Foods, a SPAC launched by consumer industry veterans Martin Franklin and Noam Gottesman in 2014. William Ackman's activist hedge fund Pershing Square Capital Management also invested in Nomad Foods. Typically, SPACs allow investors to redeem their common stock at the IPO price if they disagree with a proposed acquisition. This has traditionally put off long-term institutional investors but made them popular with hedge funds, willing to take a bet on what a SPAC's deal could be. To address this, some SPACs now seek to launch with the backing of cornerstone investors who have committed not to redeem their money if they disapprove of a proposed acquisition, giving the SPAC more financing certainty to be able to go after the companies it wants.

https://www.cnbc.com/2018/05/10/hedge-fund-third-point-reportedly-seeks-to-launch-blank-check-company.html

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UPDATE 2-Facebook's Zuckerberg to apologise to EU lawmakers over data leak

* CEO faces grilling over Cambridge Analytica scandal * Days before tough EU data protection rules take effect * Zuckerberg to meet France's Macron on Wednesday (Recasts with apology from pre-released remarks) BRUSSELS, May 22 (Reuters) - Facebook boss Mark Zuckerberg arrived to meet European Union lawmakers on Tuesday ready to apologise for a massive data leak, in his latest attempt to draw a line under a scandal that has rocked the world's biggest social media network. Zuckerberg agreed to meet leaders of the European Parliament to answer questions about how political consultancy Cambridge Analytica improperly got hold of the personal data of 87 million Facebook users, including up to 2.7 million in the EU. According to pre-released remarks, Zuckerberg will say it has become clear "over the last couple of years that we haven't done enough to prevent the tools we've built from being used for harm as well." "Whether it's fake news, foreign interference in elections or developers misusing peoples information, we didnt take a broad enough view of our responsibilities. That was a mistake, and Im sorry." His comments echo an apology last month to U.S. lawmakers, but questions remain over how Facebook let the leak happen and whether it is doing enough to prevent a recurrence. Zuckerberg's appearance in Brussels comes three days before tough new EU rules on data protection take effect. Companies will be subject to fines of up to 4 percent of global turnover for breaching them. Zuckerberg will stress Facebook's commitment to Europe, where it expects to employ 10,000 people by the end of the year. "I believe deeply in what we're doing. And when we address these challenges, I know we'll look back and view helping people connect and giving more people a voice as a positive force here in Europe and around the world," he will say. Since the Cambridge Analytica scandal, Facebook has suspended 200 apps from its platforms as it investigates third-party apps that have access to large quantities of user data. Cambridge Analytica and its British parent, SCL Elections Ltd, have declared bankruptcy and closed down. But some European officials want a tougher line on big technology firms. Tommaso Valletti, chief economist at the European Commission's competition unit, said earlier on Tuesday Facebook and other technology giants could face more regulatory scrutiny because of their market power. Facebook's compliance with the new EU data rules will be closely watched, as will its efforts to tackle the spread of fake news ahead of European Parliamentary elections next year. After plunging when the data leak scandal broke in March, Facebook shares have recovered, helped by stronger-than-expected quarterly results. Zuckerberg will go on to meet French President Emmanuel Macron on Wednesday but has so far declined to appear in front of British lawmakers. (Reporting by Julia Fioretti, Editing by Larry King and Mark Potter)

https://www.cnbc.com/2018/05/22/reuters-america-update-2-facebooks-zuckerberg-to-apologise-to-eu-lawmakers-over-data-leak.html

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MabVax Therapeutics Holdings, Inc. Announces Private Placement Offering

SAN DIEGO, May 3, 2018 /PRNewswire/ -- MabVax Therapeutics Holdings, Inc. (Nasdaq: MBVX), a clinical-stage biotechnology company focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer, today announced it has entered into securities purchase agreements with accredited investors pursuant to which the Company has agreed to sell $860,000 worth of shares of the Company's newly designated 0% Series N Convertible Preferred Stock (the "Series N Preferred Stock"). Transaction costs are estimated to be $10,000. The initial conversion price for the Series N Preferred Stock is $1.10 per share of common stock. The offering is expected to close on or before May 7, 2018. In connection with this offering, the Company offered incentive shares to prior investors who participated in the Company's private offering in February 2018 as an incentive for the prior investors to make a minimum investment in this offering equal to 40% of their investment in February 2018. Assuming the prior investors invest at least 40% of their prior investment in this offering, they shall be entitled to receive their pro rata share of up to 10,988.88 shares of a new 0% Series O Convertible Preferred Stock (the "Series O Preferred Stock"), initially convertible into 1,098,888 shares of common stock. Neither the Series N Preferred Stock nor the Series O Preferred Stock will be separately listed on any securities exchange or other trading market. The shares of Series N Preferred Stock and Series O Preferred Stock were offered and are being sold to certain accredited investors in a private placement. No bank was used for this transaction. "The incremental funds from this financing are intended to provide additional operating capital while we continue to work toward closing potential strategic transactions with companies interested in certain products in our development pipeline," stated President and CEO David Hansen. "These funds together with payments we expect to receive from these potential transactions should help us to sustain our spending on key programs in our development pipeline for the remainder of the year." MabVax intends to use the net proceeds of the offering to fund continuing clinical development of its HuMab 5B1 antibody designated MVT-5873 in combination with gemcitabine and nab-paclitaxal in first line therapy for the treatment of patients newly diagnosed with pancreatic cancer. The Company has treated two cohorts of patients for a total of six patients to date in this study; and these funds will enable the Company to continue enrolling up to approximately 10 additional patients with the objective of confirming early observations. The additional funding will also support the continued clinical development of the Company's radioimmunotherapy product designated as MVT-1075 for the treatment of locally advanced or metastatic pancreatic cancer patients. MabVax initiated the phase I study of MVT-1075 in June 2017 and is in the process of treating additional patients to continue to assess the safety and potential efficacy of this treatment. Funds will also be used for general corporate purposes. This press release shall not constitute an offer to sell or a 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. About MabVax: MabVax Therapeutics Holdings, Inc. is a clinical-stage biotechnology company with a fully human antibody discovery platform focused on the rapid translation into clinical development of products to address unmet medical needs in the treatment of cancer. Our antibody MVT-5873, is a fully human IgG1 monoclonal antibody (mAb) that targets sialyl Lewis A (sLea), an epitope on CA19-9, and is currently in Phase 1 clinical trials as a therapeutic agent for patients with pancreatic cancer and other CA19-9 positive tumors. CA19-9 is expressed in over 90% of pancreatic cancers and in other diseases including small cell lung and GI cancers. CA19-9 plays an important role in tumor adhesion and metastasis, and is a marker of an aggressive cancer phenotype. CA19-9 serum levels are considered a valuable adjunct in the diagnosis, prognosis and treatment monitoring of pancreatic cancer. With our collaborators including Memorial Sloan Kettering Cancer Center, Sarah Cannon Research Institute, Honor Health and Imaging Endpoints, we have treated over 56 patients with either our therapeutic antibody designated as MVT-5873 or our PET imaging diagnostic product designated as MVT-2163 in Phase 1 clinical studies, and demonstrated early safety and specificity for the target. Patient dosing is continuing in Phase 1 clinical studies of MVT-5873 in combination with nab-paclitaxel and gemcitabine to patients newly diagnosed with CA19-9 positive pancreatic cancer, and for the Company's radioimmunotherapy product MVT-1075. Our human antibody targeting Tn and sTn is in preclinical development. For additional information, please visit the Company's website, www.mabvax.com . Forward Looking Statements: This press release on announcing the private placement contains "forward-looking statements" regarding matters that are not historical facts, including statements relating to the financing and use of proceeds, the Company's MVT-5873, MVT-2163 and MVT-1075 clinical development programs, and the Company's human antibody targeting Tn and sTn in preclinical development. We have no assurance that all the product development pipeline will be fully developed by the Company. Further, we have no assurance that potential strategic transactions will be completed in a timely manner, if at all. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, or SEC, including the factors described in the section entitled "Risk Factors" in its annual report on Form 10-K for the fiscal year ended December 31, 2017, as amended and supplemented from time to time and the Company's Quarterly Reports on Form 10-Q and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov . The parties do not undertake any obligation to update forward-looking statements contained in this press release. MabVax Investor Contact: Email: MabVaxIR@mabvax.com Phone: 833-208-6789 Media Contact: Russo Partners LLC Phone: 212-845-4272 Email: travis.kruse@russopartnersllc.com View original content with multimedia: http://www.prnewswire.com/news-releases/mabvax-therapeutics-holdings-inc-announces-private-placement-offering-300642152.html SOURCE MabVax Therapeutics Holdings, Inc.

http://www.cnbc.com/2018/05/03/pr-newswire-mabvax-therapeutics-holdings-inc-announces-private-placement-offering.html

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NuvusGro (NUVG) Introduces the Nuvus Mobile Mining Unit (MoMu) Utilizing its Grow.Droid Enterprise Technology – MoMu to Mine Bitcoin, Ether, BCH, and Altcoins

Saint Petersburg, FL, May 21, 2018 (GLOBE NEWSWIRE) -- NuvusGro Corp. (OTC PINK: NUVG), a provider of advanced Controlled Environment Agriculture (CEA) with sophisticated automation and analytical tools for the cultivators of legal industrial hemp and marijuana, announces today that NuvusGro has been contracted by Infrax Systems (IFXY) to develop and manufacture Mobile Mining Unit (MoMu) utilizing its Grow.Droid Enterprise Technology to mine Bitcoin, Ether, BCH, and Altcoins. Grow.Droid technology has been used to develope and manufacture sophisticated container based grow systems. MoMu is a mobile container-based computer mining operation that can be easily transported from site to site. Just plug into power, connect to the internet via satellite and start mining cryptos. A complete self-contained unit ready to house and operate 128 to 164 GPUs or Asics. This is the Nuvus Mobile Mining Unit (MoMu). The Nuvus Mobile Mining Unit is constructed from a 20-foot shipping container and comes attached to a sturdy trailer base which can be towed via most pickup trucks and larger SUVs. This self-contained unit has everything needed to start mining operations, just add preferred mining computers and equipment. The Nuvus Mobile Mining Unit is not just a pretty box. It comes with advanced features such as programmed controlled sequential startup and shutdown, active security and remote monitoring. Dual self-locking satellite systems provide reliable internet connection anywhere a signal can be located. Our custom designed flow-thru environmental system and open-air racks will make sure all is cool and running at maximum efficiency. MoMus will have the intake ability of 1 MW of power. About NuvusGro NuvusGro, a Nevada Corporation and Subsidiary of Nuvus Corp., provides Advanced Controlled Environment Agriculture (CEA), Precise Cognitive Automation, Sophisticated Analytics, Artificial Intelligence (AI) Grow Systems, Modular Grow facilities, Power & Energy Services, Consulting Services and Financing for the cultivators and Medium to Large Scale Growing Facilities. About Nuvus Corp Nuvus Corp provides strong leadership and guidance to a collection of companies addressing the cannabis, hemp and mainstream agricultural industry. Our organizational structure allows us to keep tremendous focus on the extraordinary opportunities in this ever-expanding industry. To request further information about Nuvus, please email us at info@nuvuscorp.com , log onto our website at http://www.nuvusgro.com or visit us at our Facebook page https://www.facebook.com/nuvuscorp or on Twitter @nuvuscorp. About Infrax Systems (BlockCapital Corp) BlockCapital Corp ($IFXY) invests in crypto assets, provides blockchain technology consulting, ICO process consulting services, Crypto mining infrastructure consulting & tokenization of assets. Forward-Looking Statements This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions. CONTACT INFORMATION Media Contact NuvusGro Corp. Http://www.nuvuscorp.com Http://www.nuvusgro.com info@nuvuscorp.com (727) 474-1810 Twitter - @nuvuscorp Facebook - nuvuscorp Source: Nuvus Gro

http://www.cnbc.com/2018/05/21/globe-newswire-nuvusgro-nuvg-introduces-the-nuvus-mobile-mining-unit-momu-utilizing-its-grow-droid-enterprise-technology-a-momu-to-mine.html

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Companies hire 204,000 more workers in April despite signs of tightening job market: ADP

7 Hours Ago | 01:51 Hiring continued at a solid pace in April, with private companies adding 204,000 positions even amid signs of a tightening jobs market, according to a report Wednesday from ADP and Moody's Analytics. The number was essentially in line with expectations of economists surveyed by Reuters who had forecast 200,000. The total did indicate a slight deceleration from March, which posted a downward revised 228,000 from an initially reported 241,000. Job growth was broad-based, with gains coming not only from a number of service-based sectors but also goods-producing areas including construction, which added 27,000 positions. April also represented the ADP/Moody report's sixth-straight month of private payroll growth above 200,000. "Despite rising trade tensions, more volatile financial markets, and poor weather, businesses are adding a robust more than 200,000 jobs per month," Moody's chief economist Mark Zandi said in a statement. "At this pace, unemployment will soon be in the threes, which is rarefied and risky territory, as the economy threatens to overheat." The national jobless rate currently sits at 4.1 percent and near what economists consider full employment. However, payrolls continue to increase a strong pace. A jobless rate in below 4 percent would represent "awfully risky" territory, Zandi told CNBC's " Squawk Box ." Economists worry that more downward pressure on the jobless rate will result in rapid wage growth that will lead to inflation. "It's going to be tough to navigate and land the plane when you're in the 3s," Zandi said, though he added that the continued pace of job gains above 200,000 a month is "fantastic growth." Economists sometimes use the ADP number as a guide for their estimate of the government's official nonfarm payrolls count, due Friday. Expectations currently are for an increase in that report of about 195,000. The two counts can differ sharply, however, as ADP's March estimate was well above the Bureau of Labor Statistics' 103,000 tally. According to ADP/Moody's, services-related industries created 160,000 jobs while goods producers added 44,000. "The labor market continues to maintain a steady pace of strong job growth with little sign of a slowdown," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "However, as the labor pool tightens it will become increasingly difficult for employers to find skilled talent." Leading sectors included professional and business services (58,000), education and health (39,000) and leisure and hospitality (36,000). Manufacturing contributed 10,000 while natural resources and mining added another 7,000. From a business size standpoint, the contribution was evenly distributed, with companies employing 50 to 499 workers adding 88,000, small firms hiring 62,000 and large companies growing by 54,000. Franchises posted the only decline for the month, losing 10,600 positions.

https://www.cnbc.com/2018/05/02/adp-private-payrolls-april-2018.html

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WhiteHorse Finance, Inc. Announces First Quarter 2018 Earnings Results

NEW YORK, WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (NASDAQ: WHF) today announced its financial results for the quarter ended March 31, 2018. First Quarter 2018 Summary Highlights New investments of $54.1 million Net investment income of $8.6 million First quarter net investment income of $0.418 per share First quarter distribution of $0.355 per share Stuart Aronson, WhiteHorse Finance's Chief Executive Officer commented, "Our strong first quarter results were driven by our successful pursuit of high-yielding senior-secured direct originations. This transaction activity validates our rigorous and dynamic approach to sourcing, which facilitates business development in less competitive areas of the lower mid-market at leverage levels consistent with our historical averages. Our focus on companies with limited cyclicality, high free cash flow conversion, and no binary outcome risk is a meaningful differentiator that has created value for our shareholders." Portfolio and Investment Activity As of March 31, 2018, the fair value of WhiteHorse Finance's investment portfolio was $467.7 million, compared with $440.7 million as of December 31, 2017. The portfolio at March 31, 2018 consisted of 48 positions across 34 companies with an average investment size of $9.7 million and a weighted average effective yield of 12.0%. The majority of the portfolio was comprised of senior secured loans, and these loans were substantially all variable-rate investments (primarily indexed to LIBOR), which should continue to position the portfolio well for a rising interest rate environment. During the three months ended March 31, 2018, WhiteHorse Finance made investments in four new portfolio companies totaling $54.1 million. Gross proceeds from sales and repayments totaled $33.0 million for the quarter primarily driven by full repayment on three positions. In addition, WhiteHorse Finance refinanced two of its existing positions. The first, Clarus Commerce, LLC, was a net increase of $10.9 million (after taking into account refinancing proceeds of $6.0 million). The second was to Fluent, LLC which reduced the Company's position by $13.2 million (after taking into account refinancing proceeds of $25.7 million). The Company remained highly selective in deploying new investments. Results of Operations For the three months ended March 31, 2018, net investment income was $8.6 million, compared with $6.5 million for the same period in the prior year, representing an increase of approximately 32.3%. The increase in net investment income was primarily attributable to an increase in fee income resulting from non-recurring prepayment and amendment fees as compared to the same period in the prior year. For the three months ended March 31, 2018, WhiteHorse Finance reported net realized and unrealized gains on investments of $5.3 million. This compares with realized and unrealized gains on investments of $3.1 million for the three months ended March 31, 2017. The increase in net realized and unrealized gains on investments was primarily attributable to favorable fair value adjustments on an aggregate basis. WhiteHorse Finance reported a net increase in net assets of $13.9 million for the three months ended March 31, 2018, which compares with a net increase of $9.6 million for the three months ended March 31, 2017. WhiteHorse Finance's net asset value was $293.5 million, or $14.30 per share, as of March 31, 2018, as compared with $287.0 million, or $13.98 per share, reported as of December 31, 2017. Liquidity and Capital Resources As of March 31, 2018, WhiteHorse Finance had cash and cash equivalents of $18.6 million, as compared with $38.9 million as of December 31, 2017, inclusive of restricted cash. As of March 31, 2018, the Company had $45.0 million of undrawn capacity under its revolving credit facility. Distributions On March 12, 2018, the Company declared a distribution of $0.355 per share for the quarter ended March 31, 2018, consistent for the twenty-second consecutive quarter since the Company's IPO. The distribution was paid on April 2, 2018 to stockholders of record as of March 26, 2018. Distributions are paid from taxable earnings and may include a return of capital and/or capital gains. The specific tax characteristics of the distributions will be reported to stockholders on Form 1099-DIV after the end of the calendar year and in the Company's periodic reports filed with the Securities and Exchange Commission. Conference Call WhiteHorse Finance will host a conference call to discuss its first quarter at 10:00 am ET on Tuesday, May 8, 2018. To access the teleconference, please dial 706-758-9224 (domestic and international) approximately 10 minutes before the teleconference's scheduled start time and reference ID #4386858. Investors may also access the call on the investor relations portion of the Company's website at www.whitehorsefinance.com . If you are unable to access the live teleconference, a replay will be available beginning approximately two hours after the call's completion through May 15, 2018. The teleconference replay can be accessed by dialing 404-537-3406 (domestic and international) and entering ID #4386858. A webcast replay will also be available on the investor relations portion of the Company's website at www.whitehorsefinance.com . About WhiteHorse Finance, Inc. WhiteHorse Finance is a business development company that originates and invests in loans to privately held, lower middle market companies across a broad range of industries. The Company's investment activities are managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC, ("H.I.G. Capital"). H.I.G. Capital is a leading global alternative asset manager with $25 billion of capital under management (1) across a number of funds focused on the small and mid-cap markets. For more information about H.I.G. Capital, please visit http://www.higcapital.com. For more information about the Company, please visit http://www.whitehorsefinance.com . Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. (1) Based on total capital commitments managed by H.I.G. Capital and affiliates. WhiteHorse Finance, Inc. Consolidated Statements of Assets and Liabilities (in thousands, except share and per share data) March 31, 2018 December 31, 2017 (Unaudited) Assets Investments, at fair value Non-controlled/non-affiliate company investments $ 423,309 $ 404,434 Non-controlled affiliate company investments 44,433 36,246 Total investments, at fair value (amortized cost $470,309 and $448,522, respectively) 467,742 440,680 Cash and cash equivalents 11,992 35,219 Restricted cash and cash equivalents 6,580 3,717 Interest receivable 5,030 4,947 Receivables from investments sold 463 783 Prepaid expenses and other receivables 838 185 Total assets $ 492,645 $ 485,531 Liabilities Debt $ 182,317 $ 182,122 Distributions payable 7,289 7,289 Management fees payable 7,736 7,848 Accounts payable and accrued expenses 1,064 701 Interest payable 562 527 Advances received from unfunded credit facilities 161 92 Total liabilities 199,129 198,579 Commitments and contingencies Net assets Common stock, 20,531,948 shares issued and outstanding, par value $0.001 per share and 100,000,000 authorized 20 20 Paid-in capital in excess of par 302,292 302,292 Accumulated overdistributed net investment income (5,495) (6,784) Accumulated net realized losses on investments (734) (734) Accumulated net unrealized depreciation on investments (2,567) (7,842) Total net assets 293,516 286,952 Total liabilities and total net assets $ 492,645 $ 485,531 Number of shares outstanding 20,531,948 20,531,948 Net asset value per share $ 14.30 $ 13.98 WhiteHorse Finance, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Three months ended March 31, 2018 2017 Investment income From non-controlled/non-affiliate company investments Interest income $ 13,763 $ 12,018 Fee income 2,192 767 From non-controlled affiliate company investments Dividend income 650 790 Total investment income 16,605 13,575 Expenses Interest expense 2,565 2,444 Base management fees 2,445 2,262 Performance-based incentive fees 2,144 1,631 Administrative service fees 175 134 General and administrative expenses 698 582 Total expenses 8,027 7,053 Net investment income 8,578 6,522 Realized and unrealized gains (losses) on investments Net realized gains Non-controlled/non-affiliate company investments - 23 Net realized gains - 23 Net change in unrealized appreciation (depreciation) Non-controlled/non-affiliate company investments (2,911) 3,227 Non-controlled affiliate company investments 8,186 (143) Net change in unrealized appreciation 5,275 3,084 Net realized and unrealized gains on investments 5,275 3,107 Net increase in net assets resulting from operations $ 13,853 $ 9,629 Per Common Share Data Basic and diluted earnings per common share $ 0.68 $ 0.53 Dividends and distributions declared per common share $ 0.36 $ 0.36 Basic and diluted weighted average common shares outstanding 20,531,948 18,303,890 WhiteHorse Finance, Inc. Consolidated Schedule of Investments (Unaudited) March 31, 2018 (in thousands) Investment Type (1) Spread Above Index (2) Interest Rate (3) Maturity Date Principal/ Share Amount Amortized Cost Fair Value (10) Fair Value As A Percentage of Net Assets North America Debt Investments Advertising Fluent, LLC First Lien Secured Term Loan L+ 7.00% 8.87% 03/27/23 12,500 $ 12,500 $ 12,500 4.26 % (0.50% Floor) Outcome Health First Lien Secured Term Loan L+ 9.50% 11.44% 12/22/21 11,298 10,457 9,716 3.31 (1.00% Floor) (3.00% PIK) 23,798 22,957 22,216 7.57 Application Software Intermedia Holdings, Inc. Second Lien Secured Term Loan L+ 9.50% 11.27% 02/03/25 18,000 17,691 17,892 6.10 (1.00% Floor) Automotive Retail Team Car Care Holdings, LLC First Lien Secured Term Loan (4) L+ 8.00% 9.89% 02/23/23 18,453 18,045 18,078 6.16 (1.00% Floor) First Lien Secured Revolving Loan (4)(7) L+ 7.00% 11.75% 02/23/23 - - 3 - (1.00% Floor) 18,453 18,045 18,081 6.16 Broadcasting Multicultural Radio Broadcasting, Inc. First Lien Secured Term Loan L+ 8.00% 9.89% 12/28/22 19,920 19,542 19,580 6.67 (1.00% Floor) Rural Media Group, Inc. First Lien Secured Term Loan L+ 6.75% 9.63% 12/29/22 7,133 6,998 7,008 2.39 (1.00% Floor) First Lien Secured Delayed Draw Loan (7) L+ 6.75% 9.63% 12/29/22 - - 4 - (1.00% Floor) 27,053 26,540 26,592 9.06 Data Processing & Outsourced Services FPT Operating Company, LLC/ TLabs Operating Company, LLC First Lien Secured Term Loan L+ 8.25% 9.91% 12/23/21 23,156 22,848 22,925 7.81 (1.00% Floor) Department Stores Mills Fleet Farm Group, LLC Second Lien Secured Term Loan L+ 9.75% 11.63% 02/26/23 7,146 7,043 7,146 2.43 (1.00% Floor) Diversified Support Services Account Control Technology Holdings, Inc. First Lien Secured Term Loan (4) L+ 8.50% 10.27% 04/28/22 11,576 11,303 11,381 3.88 (1.00% Floor) ImageOne Industries, LLC First Lien Secured Term Loan L+ 7.50% 9.39% 01/11/23 7,607 7,461 7,493 2.55 (1.00% Floor) First Lien Secured Revolving Loan (7) L+ 6.50% 11.25% 01/11/23 - - 8 - (1.00% Floor) Sitel Worldwide Corporation Second Lien Secured Term Loan L+ 9.50% 11.25% 09/18/22 8,670 8,559 8,757 2.98 (1.00% Floor) 27,853 27,323 27,639 9.41 WhiteHorse Finance, Inc. Consolidated Schedule of Investments (Unaudited) - (continued) March 31, 2018 (in thousands) Investment Type (1) Spread Above Index (2) Interest Rate (3) Maturity Date Principal/ Share Amount Amortized Cost Fair Value (10) Fair Value As A Percentage of Net Assets Environmental & Facilities Services Montrose Environmental Group, Inc. Second Lien Secured Term Loan L+ 9.50% 11.27% 09/30/20 8,500 $ 8,359 $ 8,350 2.84 % (1.00% Floor) Food Retail AG Kings Holdings, Inc. First Lien Secured Term Loan L+ 9.95% 12.25% 08/10/21 13,510 13,117 13,105 4.46 (1.00% Floor) Crews of California, Inc. First Lien Secured Term Loan L+ 11.00% 12.78% 11/20/19 16,681 16,576 16,513 5.63 (1.00% Floor) (1.00% PIK) First Lien Secured Revolving Loan L+ 11.00% 12.78% 11/20/19 5,132 5,090 5,080 1.73 (1.00% Floor) (1.00% PIK) First Lien Secured Delayed Draw Loan L+ 11.00% 12.78% 11/20/19 4,834 4,796 4,785 1.63 (1.00% Floor) (1.00% PIK) 40,157 39,579 39,483 13.45 Health Care Facilities Grupo HIMA San Pablo, Inc. First Lien Secured Term Loan L+ 9.00% 10.50% 01/31/18 14,250 14,250 11,129 3.79 (1.50% Floor) Second Lien Secured Term Loan (8) N/A 15.75% 07/31/18 1,028 1,025 119 0.04 (2.00% PIK) 15,278 15,275 11,248 3.83 Internet Retail Clarus Commerce, LLC First Lien Secured Term Loan L+ 8.62% 10.51% 03/09/23 17,100 16,899 16,895 5.76 (1.00% Floor) Internet Software & Services London Trust Media Incorporated First Lien Secured Term Loan L+ 8.00% 9.77% 02/01/23 11,500 11,334 11,344 3.86 (1.00% Floor) StackPath, LLC & Highwinds Capital, Inc. Second Lien Secured Term Loan L+ 9.50% 11.29% 02/02/24 18,000 17,624 17,640 6.01 (1.00% Floor) 29,500 28,958 28,984 9.87 Investment Banking & Brokerage JVMC Holdings Corp. (f/k/a RJO Holdings Corp) First Lien First Out Secured Term Loan L+ 8.02% 9.90% 05/05/22 12,994 12,754 12,994 4.43 (1.00% Floor) First Lien Last Out Secured Term Loan L+ 12.00% 13.88% 05/05/22 4,813 4,724 4,813 1.64 (1.00% Floor) 17,807 17,478 17,807 6.07 IT Consulting & Other Services AST-Applications Software Technology LLC First Lien Secured Term Loan L+ 9.00% 10.89% 01/10/23 4,171 4,092 4,004 1.36 (1.00% Floor) (2.00% PIK) WhiteHorse Finance, Inc. Consolidated Schedule of Investments (Unaudited) - (continued) March 31, 2018 (in thousands) Investment Type (1) Spread Above Index (2) Interest Rate (3) Maturity Date Principal/ Share Amount Amortized Cost Fair Value (10) Fair Value As A Percentage of Net Assets Leisure Facilities Planet Fit Indy 10 LLC First Lien Incremental Term Loan L+ 7.25% 9.55% 03/07/22 1,930 $ 1,912 $ 1,911 0.65 % (1.00% Floor) First Lien Initial Delayed Draw Loan (7) L+ 7.25% 9.23% 03/07/22 2,658 2,633 2,629 0.90 (1.00% Floor) First Lien Initial Term Loan L+ 7.25% 9.28% 03/07/22 131 131 130 0.04 (1.00% Floor) 4,719 4,676 4,670 1.59 Oil & Gas Exploration & Production Caelus Energy Alaska O3, LLC Second Lien Secured Term Loan L+ 7.50% 9.68% 04/15/20 13,000 12,937 11,631 3.96 (1.25% Floor) Other Diversified Financial Services Sigue Corporation (4) Second Lien Secured Term Loan L+ 11.50% 13.81% 12/27/18 25,000 24,926 23,125 7.88 (1.00% Floor) The Pay-O-Matic Corp. First Lien Secured Term Loan L+ 13.00% 14.69% 04/02/18 11,829 11,829 11,889 4.05 (1.00% Floor) 36,829 36,755 35,014 11.93 Research & Consulting Services Nelson Worldwide, LLC First Lien Secured Term Loan L+ 8.00% 9.70% 01/09/23 17,710 17,287 17,312 5.90 (1.00% Floor) First Lien Secured Revolving Loan (7) L+ 8.00% 9.70% 01/09/23 1,234 1,205 1,208 0.41 (1.00% Floor) 18,944 18,492 18,520 6.31 Security & Alarm Services SecurAmerica, LLC First Lien Secured Term Loan L+ 9.50% 11.48% 11/17/22 11,320 11,058 11,114 3.79 (1.00% Floor) Specialized Consumer Services Pre-Paid Legal Services, Inc. Second Lien Secured Term Loan L+ 9.00% 10.88% 07/01/20 19,000 18,921 18,999 6.47 (1.25% Floor) WhiteHorse Finance, Inc. Consolidated Schedule of Investments (Unaudited) - (continued) March 31, 2018 (in thousands) Investment Type (1) Spread Above Index (2) Interest Rate (3) Maturity Date Principal/ Share Amount Amortized Cost Fair Value (10) Fair Value As A Percentage of Net Assets Specialized Finance Golden Pear Funding III, LLC (5) Second Lien Secured Term Loan L+ 11.25% 13.02% 06/25/20 25,000 $ 24,869 $ 24,500 8.35 % (1.00% Floor) Second Lien Secured Revolving Loan L+ 11.25% 13.02% 06/25/20 5,000 4,974 4,900 1.67 (1.00% Floor) Oasis Legal Finance, LLC (5) Second Lien Secured Term Loan L+ 10.75% 12.41% 03/09/22 20,000 19,714 20,000 6.81 (1.00% Floor) 50,000 49,557 49,400 16.83 Trucking Sunteck / TTS Holdings, LLC Second Lien Secured Term Loan L+ 9.00% 11.12% 06/15/22 3,500 3,453 3,500 1.19 (1.00% Floor) Total Debt Investments 435,284 428,936 422,110 143.79 Equity Investments Advertising Cogint, Inc. (f/k/a IDI, Inc.) (4)(9) N/A N/A 12/08/25 187 560 467 0.16 Food Retail Crews of California, Inc. Warrants (4) N/A N/A 12/31/24 - - 6 0.00 Nicholas & Associates, LLC Warrants (4) N/A N/A 12/31/24 3 - 131 0.04 Pinnacle Management Group, LLC Warrants (4) N/A N/A 12/31/24 3 - 131 0.04 RC3 Enterprises, LLC Warrants (4) N/A N/A 12/31/24 3 - 131 0.04 9 - 399 0.12 Internet Software & Services Red Violet, Inc. (4)(9) N/A N/A N/A 25 - 152 0.05 Other Diversified Financial Services Aretec Group, Inc. (4)(5)(6) N/A N/A N/A 536 20,693 25,141 8.57 RCS Creditor Trust Class B Units (4)(6) N/A N/A N/A 143 - 543 0.18 679 20,693 25,684 8.75 Specialized Finance NMFC Senior Loan Program I LLC Units (4)(5)(6) N/A N/A 06/13/20 20,000 20,120 18,750 6.39 Trucking Fox Rent A Car, Inc. Warrants (4) N/A N/A N/A - - 180 0.06 Total Equity Investments 20,900 41,373 45,632 15.53 Total Investments 456,184 $ 470,309 $ 467,742 159.32 % (1) Except as otherwise noted, all investments are non-controlled/non-affiliate investments as defined by the Investment Company Act of 1940, as amended (the "1940 Act"), and provide collateral for the Company's credit facility. (2) The investments bear interest at a rate that may be determined by reference to the London Interbank Offered Rate ("LIBOR" or "L"), which resets monthly, quarterly or semiannually, or the U.S. Prime Rate as published by the Wall Street Journal ("Prime" or "P"). The one, three and six-month LIBOR were 1.9%, 2.0% and 2.3%, respectively, as of March 31, 2018. The Prime was 4.8% as of March 31, 2018. (3) The interest rate is the "all-in-rate" including the current index and spread, the fixed rate, and the payment-in-kind ("PIK") interest rate, as the case may be. (4) The investment or a portion of the investment does not provide collateral for the Company's credit facility. (5) Not a qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of total assets. Qualifying assets represented 81% of total assets as of the date of the consolidated schedule of investments. (6) Investment is a non-controlled/affiliate investment as defined by the 1940 Act. (7) The investment has an unfunded commitment in addition to any amounts presented in the consolidated schedule of investments as of March 31, 2018. (8) The investment is on non-accrual status. (9) The fair value of the investment was determined using observable inputs. (10) Except as otherwise noted, the fair value of each investment was determined using significant unobservable inputs. : releases/whitehorse-finance-inc-announces-first-quarter-2018-earnings-results-300644139.html SOURCE WhiteHorse Finance, Inc.

http://www.cnbc.com/2018/05/08/pr-newswire-whitehorse-finance-inc-announces-first-quarter-2018-earnings-results.html

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Real estate: How to avoid a low home appraisal

Even when a seller and buyer agree on a price for a home, the deal can collapse if the property appraises for less than that price. For example, let's say a seller lists his house for $325,000, the buyer offers $275,000, but they settle on $300,000. A week before closing, the appraisal comes in at $265,000. That's the maximum price for which the lender is willing to offer a mortgage . Who's going to make up the $35,000 difference? More from Bankrate: 5 cheap ways to stage your home like a pro Should you sell your home without a real estate agent? 5 home inspection mistakes buyers and sellers make In this case, the seller has already come down on the price and doesn't want to lower it again. And the buyer may not have enough cash to cover the shortfall, or does not want to pay more for the house than its appraised value. As a result, the deal falls through. What causes a low appraisal Short appraisals are common in declining housing markets because the lack of recent comparable home sales in the area, or "comps," make it hard for appraisers to determine the current market value of a property. When home sales slow down, good comps "age" quickly. Add foreclosures and short sales to the mix and appraisals can run all over the map. The Home Valuation Code of Conduct, or HVCC, which went into effect in May 2009, compounded the problem. The HVCC prohibits Fannie Mae and Freddie Mac lenders from having direct contact with appraisers. As a result, most lenders work through appraisal management companies, or AMCs, whose pool of residential appraisers includes those with limited training or little familiarity with the geographic area being appraised. Know how to protect yourself You can protect yourself from low appraisals. Here are some suggestions for buyers and sellers. If you're a buyer: Tell your lender to find an appraiser who comes from your county, or perhaps a neighboring county. After all, you're paying for the appraisal. Ask that the appraiser have a residential appraiser certification and a professional designation. Examples include the Appraisal Institute's senior residential appraiser, or SRA, or member of the Appraisal Institute, or MAI, designations. Meet the appraiser when he inspects the home, and share your knowledge of recent short sales and foreclosures that could skew the comps. You can speak with your appraiser; the prohibition applies only to your lender. If you're a seller: Get an appraisal before you list a home. Search for a qualified appraiser in your area on the Appraisal Institute site. Use the appraisal to set a realistic listing price for your home. Give a copy of your prelisting appraisal to the buyer's appraiser. Question a low appraisal. There's always a chance the appraiser or a supervisor will take into account new or overlooked information.

https://www.cnbc.com/2018/05/02/real-estate-how-to-avoid-a-low-home-appraisal.html

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Wellesley Bancorp, Inc. announces Increased Quarterly Cash Dividend

WELLESLEY, Mass., May 24, 2018 /PRNewswire/ -- Wellesley Bancorp, Inc. (Nasdaq Capital Market: WEBK) (the "Company"), the holding company for Wellesley Bank today announced that on May 23, 2018 its Board of Directors approved a quarterly cash dividend to its stockholders of $0.055, an increase over the prior quarter's dividend, to be paid on June 20, 2018 to stockholders of record as of the close of business on June 6, 2018. About Wellesley Bancorp Wellesley Bank and its wholly-owned wealth management company, Wellesley Investment Partners, LLC, are subsidiaries of Wellesley Bancorp, Inc. Wellesley Bank provides personal, customized, premier banking services to successful people, families, businesses and Non-profit organizations. The bank has six full-service banking offices in Wellesley, Newton and Boston. Wellesley Investment Partners, a subsidiary of Wellesley Bank, provides wealth management services to individuals and families, private foundations and endowments. Wellesley Bank has been serving the Greater Boston Area for over 105 years. Forward Looking Statements This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged. View original content with multimedia: http://www.prnewswire.com/news-releases/wellesley-bancorp-inc-announces-increased-quarterly-cash-dividend-300654411.html SOURCE Wellesley Bancorp, Inc.

http://www.cnbc.com/2018/05/24/pr-newswire-wellesley-bancorp-inc-announces-increased-quarterly-cash-dividend.html

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Analyst: Owning Washington Post makes Bezos target of Trump

9 Hours Ago | 03:56 Amazon founder Jeff Bezos ' personal ownership of The Washington Post makes him a "lightning rod" for attacks by President Donald Trump , internet analyst Michael Graham told CNBC on Thursday. "It's probably not the greatest thing for Amazon shareholders" for Bezos to own the paper, said Graham, who covers Amazon at financial firm Canaccord Genuity. "It definitely makes Mr. Bezos a lightning rod for what's going on politically." The Washington Post and Amazon have been frequent punching bags for Trump, with the president blasting them last month in a barrage of tweets, including accusing the paper of being Amazon's "chief lobbyist," and saying Amazon is taking advantage of U.S. taxpayers. I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy. Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. Many billions of dollars. P.O. leaders don't have a clue (or do they?)! "The president is trying to fight back with every means available" against what he considers unfair treatment by the media, Graham said in a "Squawk Box" interview. "They're partially political. I think they're partially, sort of, well-placed in terms of trying to make sure Amazon is paying their fair share of taxes." The Post-Trump distractions are not major issues in terms of Bezos' greater vision for Amazon as a leader in e-commerce and cloud computing through Amazon Web Services, said Graham, who has a buy rating on Amazon. He upped his price target last month to $1,800 per share based on, what he wrote in a note to clients, "a sum-of-the-parts analysis on 2019 estimates." Amazon has surged nearly 40 percent year to date, closing Wednesday around $1,625. A move to $1,800 would represent a 10 percent increase and a market value approaching $900 billion. AWS is "for now" subsidizing Amazon's retail business, said Graham. "AWS is clearly helping the stock, which is helping the company operate." Graham was reacting to comments on Wednesday from former Walmart U.S. chief Bill Simon who slammed Amazon for using cloud and ad revenues to support what he called meager retail profits. Amazon is doing something similar to Walmart but also "losing money at it," Simon said. "They're gaining traction and profitability by other business activities that have nothing to do with retail." Graham said Amazon is running its retail business at breakeven. "They're doing that on purpose because the whole name of the game is 'let's ramp up the delivery capabilities as fast as possible.'" He added, "International [retail] is losing money. The U.S. is making a little money." However, Graham said there's nothing sinister going on. "I think they would be running the e-commerce business the same way regardless if they had AWS or not." The 54-year-old Bezos, the richest person in the world with a net worth of $134 billion, started Amazon 24 years ago with the idea of creating an online bookstore. In addition to owning The Washington Post, Bezos also started the Blue Origin commercial space company. WATCH: Ex-Walmart US CEO slams Amazon for using cloud and ad profits to support retail show chapters

https://www.cnbc.com/2018/05/31/analyst-owning-washington-post-makes-bezos-target-of-trump.html

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Apple supplier Foxconn posts 14.5 percent drop in first-quarter profit

Taiwan's Foxconn , the world's largest contract electronics maker and supplier to Apple , posted a 14.5 percent fall in first-quarter net profit on Monday, lagging estimates despite a strong quarter for the U.S. iPhone maker. Net profit for the first three months of 2018 for the company known formally as Hon Hai Precision Industry reached $24.08 billion ($809 million), it said in a filing to the Taiwan stock exchange. That was down 14.5 percent from $28.168 billion a year earlier, according to Reuters' calculations. The first-quarter result was also lower than an average estimate of $28.71 billion from nine analysts, Thomson Reuters data showed. In May, Apple reported resilient iPhone sales in the face of waning global demand, with quarterly results that topped Wall Street forecasts. Foxconn assembles electronic devices including iPhones for Apple, which is a major customer. Foxconn CEO Terry Gou, however, has been moving towards reducing the company's dependence on Apple by diversifying. In 2016 it acquired control of Japanese electronics and display panels maker Sharp Corp. And in March, a unit of Foxconn announced it is buying Belkin International, a California-based maker of consumer electronics in a deal worth $866 million. Another unit, which makes cloud computing service equipment and industrial robots, filed on Monday for an IPO in Shanghai to raise capital for 5G-related projects and other uses.

https://www.cnbc.com/2018/05/14/apple-supplier-foxconn-posts-14-point-5-percent-drop-in-first-quarter-profit.html

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Autonomous car ride-sharing service to launch in Texas

Retail Report Autonomous car ride-sharing service to launch in Texas Drive.ai, a computer software company, will launch an autonomous car ride-sharing service this summer in Texas despite increased scrutiny over driverless cars. "We think we're solving a real transportation problem here," says CEO Sameep Tandon. The pilot program will roll out in Frisco, Texas, outside of Dallas, in July, but Tandon says the service will expand over time. 22 Hours Ago | 03:20 Drive.ai, a California -based computer software company, will launch an autonomous car ride-hailing service in Texas. The pilot program begins in July, amid increased scrutiny over the safety of driverless cars. But Sameep Tandon, the company's co-founder and CEO, said the fleet of cars has been tested and they are safe. He said the vehicles' bright orange color will help them avoid accidents. "By making our cars orange, we're really able to set the expectation [that] this is a self-driving car," Tandon told CNBC's Phil LeBeau on " Power Lunch " Monday. "When you see a school bus, you have a slightly different behavior when you drive around it," he said. Tandon, who holds a doctorate in computer science from Stanford University and was a research assistant there for deep learning on autonomous driving, said other safety precautions include multiple sensors, cameras, radar and lidar on all vehicles. The automobiles have also been tested by way of simulator systems and in geo-fenced locations, or places that use software with GPS to test the service. The pilot program will roll out in Frisco, Texas , a city outside of Dallas , with Nissan NV cargo vans, but Tandon said the service will expand over time. The service will change the way people "micro-transit," that is, those five- to seven-minute trips, Tandon said. "It's a little bit too hot and you don't want to take a car ride," he said. "Or, you're a little bit feeling guilty that you don't want to take your car there." "We think we're solving a real transportation problem here," Tandon said. Still, public concerns over autonomous vehicles have heightened since an Uber vehicle in self-driving mode struck and killed a pedestrian in Arizona in March. On Monday, Uber released a statement saying the accident was likely caused by "false positives," or computer software that programs autonomous vehicles to ignore random objects on the road, such as floating plastic bags. The software, the company said, is an issue for all autonomous vehicles, not just Uber. show chapters 2:05 PM ET Mon, 7 May 2018 | 01:22 Mass adoption of driverless cars may not come anytime soon, Tandon said. But his company, he said, is moving one step closer. "The cool part about this entire AI approach is that as this system gets more data and experience, it's going to continue and learn and get better," Tandon said. Kellie Ell News Associate for CNBC Related Securities

https://www.cnbc.com/2018/05/07/autonomous-car-ride-sharing-service-to-launch-in-texas.html

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Statoil to become Equinor, dropping "oil" to attract young talent

Shareholders in Norway's largest company, Statoil , will approve on Tuesday the board's proposal to drop "oil" from its name as it seeks to diversify its business and attract young talent concerned about fossil fuels' impact on climate change. From Wednesday, the majority state-owned company will change its 46-year-old name to Equinor and trade on the Oslo Exchange under the new ticker EQNR. The Norwegian government, which has a 67 percent stake in the firm, has said it will back the move. The oil and gas company said the name change was a natural step after it decided last year to become a "broad energy" firm, investing up to 15-20 percent of annual capital expenditure in "new energy solutions" by 2030, mostly in offshore wind. "The key reason for a company to change its name is when it wants to widen the scope of its activity or direction. Another reason would be because it is in trouble, and it has a reputational problem," Allyson Stewart-Allen, a London-based international branding expert and the CEO of International Marketing Partners, told Reuters. "I don't believe that's the case with Statoil." While the company's profits are growing again, its hydrocarbon business has come under increased scrutiny after the Paris climate deal in 2016. "A name with 'oil' as a component would increasingly be a disadvantage. None of our competitors has that. It served us really well for 50 years, I don't think it will be the best name for the next 50 years," Eldar Saetre, Statoil's chief executive, told Reuters. The new name was meant to arouse curiosity among young people so they see the other aspects of Statoil, including renewable energy, he added. Technology students became less interested in working for oil firms after oil prices crashed in 2014 and renewable energy gained in prominence. Statoil ranked 15th in an annual survey of the Nordic country's most attractive employers conducted by karrierestart.no, a Norwegian careers website, and Norwegian firm Evidente, published on May 3. In 2013, it ranked first. There are signs, however, that the name change could help it climb the ranks. "Students who answered the survey after (news of) the name change found Statoil to be between 5 percent and 10 percent more attractive as an employer," Arne Kvalsvik at Evidente said. "It's likely that Statoil's name change will have a positive impact on its reputation going forward." Statoil said it remained the first choice among technology students, citing another survey by Swedish firm Universum. Truls Gulowsen, head of Greenpeace Norway, said the name change would not be sufficient to improve Statoil's image as long as the firm was exploring in vulnerable areas, such as the Arctic or the Great Australian Bight.

https://www.cnbc.com/2018/05/15/statoil-to-become-equinor-dropping-oil-to-attract-young-talent.html

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TREASURIES-Benchmark yield hits 7-year high after bump in April retail sales

NEW YORK, May 15 (Reuters) - The yield on the U.S. 10-year Treasury note surged on Tuesday morning to its highest level since July 2011 following a data release showing retail sales increased moderately in April. The benchmark government yield reached a high of 3.058 percent, blowing through the key psychological level of 3 percent it hit in late April for the first time in four years. The range of 3.03-3.04 percent is also seen by analysts as a key technical level. The Commerce Department said on Tuesday that retail sales rose 0.3 percent last month, as rising gasoline prices weighed on discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter. Retail sales offer insight into the growth of U.S. inflation, which drives up Treasury yields as expectations of interest rate hikes rise. (Reporting by Kate Duguid Editing by Chizu Nomiyama) Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/usa-bonds/treasuries-benchmark-yield-hits-7-year-high-after-bump-in-april-retail-sales-idUSL2N1SM0MA

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UPDATE 6-Oil rises back to $80 as supply concerns mount

* Venezuela vote increases concern about its oil supply * OPEC cuts, looming U.S. sanctions on Iran also support * U.S. crude oil inventories seen lower for third week (Updates prices) LONDON, May 22 (Reuters) - Oil rose to around $80 a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Crude is trading at the highest since late 2014, underpinned by a supply-cutting deal among the Organization of the Petroleum Exporting Countries plus Russia and other non-members, and strong global demand. Brent crude, the global benchmark, rose 76 cents to $79.98 a barrel by 1401 GMT. Last week, it topped $80 for the first time since November 2014. U.S. crude was up 4 cents at $72.28, having earlier traded at $72.72, its highest since November 2014. "The solid global economy, selected supply disruptions and the upbeat market mood in particular in oil frame a positive environment," said Norbert Ruecker, head of commodities and macro research at Julius Baer. The U.S. government imposed new sanctions on Venezuela following Sunday's re-election of President Nicolas Maduro, a move that analysts say could further curb the country's oil output, already at its lowest in decades. "We can expect continued falling Venezuelan production," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo. Concern about a potential drop in Iranian oil exports following Washington's exit from a nuclear deal with Tehran and the threat of U.S. sanctions is also supporting prices. On Monday, the United States hardened its approach to Iran. Venezuela and Iran are members of OPEC, which with its allies has curbed production since January 2017 to get rid of a supply glut that in mid-2014 led to a price collapse. Due in part to the involuntary drop in Venezuela's output, OPEC is over-delivering on the agreement. Saudi Arabia and other major OPEC producers could in theory add more supply, but have yet to do so. The OPEC-led supply curbs have largely cleared an inventory surplus in industrialised countries based on the deal's original goals, and stocks continue to decline. U.S. crude stockpiles are forecast to have declined by 2.8 million barrels last week, a third straight weekly fall. The American Petroleum Institute's inventory report for the period is due at 2030 GMT. Limiting the upward pressure on prices is rising supply in the United States, where shale production is forecast to hit a record high in June. (Additional reporting by Jessica Jaganathan; Editing by Jane Merriman and Adrian Croft)

https://www.cnbc.com/2018/05/22/reuters-america-update-6-oil-rises-back-to-80-as-supply-concerns-mount.html

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EXCLUSIVE-U.S. to reveal winners of drone program that has attracted top companies

companies@ May 8 (Reuters) - Major technology and aerospace companies including Amazon.com Inc, Intel Corp, Qualcomm Inc, Raytheon Co and Airbus SE are vying to take part in a new slate of drone tests the United States is set to announce on Wednesday, people familiar with the matter told Reuters. The wide interest in the U.S. initiative, launched by President Donald Trump last year, underscores the desire of a broad range of companies to have a say in how the fledgling industry is regulated and ultimately win authority to operate drones for everything from package delivery to crop inspection. The pilot program will allow a much larger range of tests than are generally permitted by federal aviation regulators, including flying drones at night, over people and beyond an operator's line of sight. The U.S. Transportation Department is set to announce 10 winning state, local or tribal governments to host the experiments out of 149 applicants. Secretary Elaine Chao will make the winners public on Wednesday. The governments in turn have partnered with companies who will play a role in the tests. At least 200 companies applied as partners in the program, a U.S. official said. Companies including Apple Inc, Boeing Co and Ford Motor Co have also expressed interest in the program, the sources said, though it was unclear whether they all had joined applications and what they would be testing. Qualcomm confirmed it is on at least three applications, and Intel said it hopes to participate in the program. The other companies did not immediately answer requests for comment. Changes to U.S. policy that result from the tests are not expected for some time. Package delivery, which can be particularly complex, might not take place until later on during the program. Earl Lawrence, who directs the U.S. Federal Aviation Administrations unmanned aircraft systems integration office, told a Senate panel on Tuesday that many of the other projects "could go forward under the FAAs existing rules, including with waivers where appropriate." He said after "the 10 selections for the pilot program are announced, the FAA will be reaching out to other applicants, as well as interested state and local authorities, to provide additional information on how to operationalize their proposed projects." The FAA is also working on proposed regulations to ensure the safety of drones and their integration into U.S. airspace. The initiative is significant for the United States, which has lagged other countries in drone operations for fear of air crashes. That had pushed companies like Amazon to experiment overseas. In the United Kingdom, the world's largest online retailer already sends some packages by drone. It completed its first such mission in late 2016, taking 13 minutes from click to delivery. (Reporting by Jeffrey Dastin in San Francisco and David Shepardson in Washington; Additional reporting by Stephen Nellis and Paul Lienert; editing by Chris Sanders and David Gregorio)

https://www.cnbc.com/2018/05/08/reuters-america-exclusive-u-s-to-reveal-winners-of-drone-program-that-has-attracted-top-companies.html

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Coinbase acquires trading platform Paradex in its latest move to dominate the crypto economy

Top U.S. cryptocurrency exchange Coinbase announced it would acquire trading platform Paradex in the start-up's latest attempt to stay ahead in an increasingly competitive crypto economy. The San Francisco-based company, which landed at the No. 10 spot on the 2018 CNBC Disruptor 50 list, is also overhauling its flagship trading platform GDAX designed for professional investors. GDAX and the new product, Coinbase Pro, will exist side-by-side until June 29 when all customers will be rolled over to the newer version. Paradex will be integrated into that new product in the coming weeks, the company said. "This will significantly enhance the proposition for our customers in terms of what they want to trade and how they want to trade it," Asiff Hirji, Coinbase president and chief operating officer told CNBC's " Fast Money " Wednesday. show chapters Coinbase launches new products for retail & institutional crypto investors 21 Hours Ago | 09:30 A key distinction between Paradex and other exchanges is that it does not hold tokens on behalf of its customers. Users instead trade peer-to-peer, directly from their own "wallets." Coinbase in contrast, acts as a trusted custodian for digital assets on its exchange. "This peer-to-peer trading removes the need for third-party custodianship and the associated security risks," Coinbase said in a blog post. "It is another step toward creating a truly decentralized crypto economy." Paradex's platform offers hundreds of digital tokens for trading, while Coinbase notoriously only offers four. Initially, only customers outside of the U.S. will have access to the new exchange but Coinbase said it's "actively working toward" regulatory clearance for the product in the U.S. "As soon as we can we're going to turn it on in the U.S," Hirji said. "We're greatly increasing the number of things you can trade and we're doing it in a compliant way." Some U.S. exchanges have been cautious about listing ICO tokens because of concerns that they might be considered unregistered securities and could require platforms that list them to be licensed by regulators. In March the U.S. Securities and Exchange Commission warned investors that platforms offering trading of digital assets that are securities and operate as an "exchange" must register with regulators. Hirji said Coinbase would like to list "as many assets as possible," but despite increased discussions with regulators, the company has not gotten increased guidance. "As soon as there is more clarity we will list them as long as they adhere to our framework," Hirji said. "But clarity is needed and I don't think we're close to that unfortunately." Coinbase has traded $150 billion in assets for more than 20 million customers and had a reported revenue last year of $1 billion as the price of bitcoin skyrocketed. While the company is best known as the leading U.S. cryptocurrency trading platform, Coinbase has been pouring money into plans to stay ahead in a larger cryptocurrency economy. The company is looking to lure institutional investors, a group that have been especially careful when entering the volatile cryptocurrency market. Coinbase launched four new products last week: Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime to cater to the "white glove" investors. Like GDAX, Coinbase Pro customers will have access the single pool of liquidity shared by all Coinbase products.

https://www.cnbc.com/2018/05/23/coinbase-acquires-trading-platform-paradex.html

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MOVES-Hillhouse Capital, Standard Chartered, Societe Generale

May 7, 2018 / 12:58 PM / Updated 8 minutes ago MOVES-State Street Global, Standard Chartered, Societe Generale Reuters Staff 2 Min Read (Adds Barrow Hanley, State Street Global, Z Capital Group) May 7 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email moves@thomsonreuters.com. STATE STREET GLOBAL ADVISORS The asset management business of State Street Corp named Sue Thompson as head of Americas Distribution for SPDR ETFs. STANDARD CHARTERED The bank has hired Jason Ving as executive director for its public sector group within corporate and institutional banking. SOCIETE GENERALE The bank appointed Thomas Decouvelaere as head of financial engineering within its global markets division in Asia Pacific, effective July 1. BARROW, HANLEY, MEWHINNEY & STRAUSS LLC The investment manager named Bill Braxton director of client development. HILLHOUSE CAPITAL GROUP Former Credit Suisse banker Isabella Luan has joined Hillhouse Capital Group as a managing director in its Hong Kong office. Z CAPITAL GROUP LLC The alternative asset manager named Bonnie Wang as a managing director and head of corporate development. (Compiled by Nivedita Balu and Mrinalini Krothapalli)

https://www.reuters.com/article/financial-moves/moves-hillhouse-capital-standard-chartered-societe-generale-idUSL3N1SE4A3

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BUZZ-U.S. stocks weekly: Spring fever

May 11, 2018 / 8:10 PM / Updated 7 minutes ago BUZZ-U.S. stocks weekly: Spring fever Reuters Staff 2 Min Read ** S&P 500 enjoys some real warmth, has best week since early Mar, surges 2.4 pct. Consumer and producer price data eases inflation fears ** SPX may be warping out of the neutral zone , while Dow Futures make play for 100-Day ** Indeed, hemming and hawing may be ending, while an NYSE internal measure may be giving a hint ** Nearly every sector feels a nice breeze; energy, financials and tech bloom, while utilities wheeze. Nevertheless, growth still the pace car, hits fresh 17+ year high vs value ** Energy surges 3.8 pct. Oil prices hit 3-1/2 yr highs as Trump decides to quit Iran nuclear deal, restore sanctions. Though Energy ETF bubbling up toward chart resistance ** Financials soar 3.6 pct. Citigroup best in group up 7 pct as activist ValueAct takes $1.2 bln stake . S&P 500 Banks index up ~5 pct ** Tech up 3.5 pct. Warren Buffett loves his Apple , and Nvidia notches all-time high ahead of another qtrly beat, with crypto noise injected . On flip side, worst S&P stock Symantec plummets 30 pct on internal probe mystery, weak forecast ** Cons Discretionary up 0.8 pct. Best S&P performer TripAdvisor leaps 27 pct on upbeat qtrly report ** Utilities down 2.3 pct. Utilities ETF weakness on charts poised to re-heat ** SPX sector performance over past 12 mths: reut.rs/2wxZVNF ** Meanwhile, as SPX perks up, stock correlations cool down

https://www.reuters.com/article/buzz-us-stocks-weekly-spring-fever/buzz-u-s-stocks-weekly-spring-fever-idUSL1N1SI12V

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GVCL Ventures, Inc. enters into a Share Exchange Agreement with Rain Forest Nutraceuticals, Inc.

POMPANO BEACH, Fla., May 1, 2018 /PRNewswire/ -- GVCL Ventures, Inc. (the "Company") (OTC: GVCL), announced today that the Company has entered into a Share Exchange Agreement with Rain Forest Nutraceuticals, Inc., a private corporation organized under the laws of the State of Nevada ("Rain Forest"), ( www.rainforestnutraceuticalsinc.com ) to acquire 100% of its shares in exchange for the issuance by the Company of 150,000,000 shares of its restricted common stock (the "SEA"). The terms and provisions of the SEA provide, among other conditions precedent, that the Company will effect a one for two hundred (1:200) reverse stock split and change in corporate name to better reflect the future operations of the Company. The Company will be making such application with the appropriate regulatory authorities shortly. Rain Forest entered into a master license agreement dated March 15, 2018, with UVdA S.A.C., a Peruvian third generation family business ("UVdA"), pursuant to which UVdA granted to Rain Forest an exclusive worldwide license and associated rights, excluding South America, to market and sell a line of nutraceutical products based on UVdA's exceptional amazon rain forest grape seed extracts and oils (the "Products"). UVdA is a successful company producing the premium Products with revenues in excess of $1,000,000 and net profits in excess of $400,000 in their last fiscal year. Gerald Neziol, President of the Company, states, "This acquisition is a major step forward for the Company. To be able to introduce, market and sell a successful and proven product line to the rest of the world, I believe will be a very profitable business initiative for the Company. We look forward to a very profitable future." The Company has also terminated the license agreement with Vapor Systems Corp. due to unfulfilled agreement terms. About GVCL Ventures, Inc.: GVCL Ventures, Inc. ( www.gvclventures.com ), is a business opportunity company with a primary focus on working with and/or acquiring operational companies to work with for the purpose of enhancing shareholder value, in symphony with its wholly owned subsidiary, GVCL Marketing Corp., which provides a unique network marketing opportunity that utilizes its extensive access to online digital campaigns via the internet for its clients and partners, to enhance their productivity and revenue. Forward Looking Statements Undue reliance should not be placed on forward looking statements in this press release. This press release contains forward looking statements that involve risks and uncertainties. Words such as "will", "anticipates", "believes", "plans", "goal", "expects", "future", "intends", and similar expressions are used to identify these forward looking statements. Actual results could materially differ from those anticipated in these forward looking statements for many reasons. View original content: http://www.prnewswire.com/news-releases/gvcl-ventures-inc-enters-into-a-share-exchange-agreement-with-rain-forest-nutraceuticals-inc-300639668.html SOURCE GVCL Ventures, Inc.

http://www.cnbc.com/2018/05/01/pr-newswire-gvcl-ventures-inc-enters-into-a-share-exchange-agreement-with-rain-forest-nutraceuticals-inc.html

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Diebold Nixdorf Appoints Ellen Costello To Board Of Directors

NORTH CANTON, Ohio, May 23, 2018 /PRNewswire/ -- Diebold Nixdorf, Incorporated (NYSE: DBD) today announced it has named Ellen M. Costello, a veteran leader in the financial industry, to the company's board of directors. Upon her appointment, effective June 1, Costello will serve on the board's audit and finance committees. Costello has more than 30 years of leadership experience in retail, commercial, corporate banking and capital markets around the world. She currently serves as an independent director on the board of Citigroup, Inc., a role she has held since January 2016, and is currently a member of its audit and risk committees. In her most recent executive position, Costello served as chief executive officer (CEO) of BMO Financial Corp., and as U.S. country head at BMO Financial Group, where she was responsible for providing governance and regulatory oversight for all of BMO's U.S. businesses. Prior to that she was CEO of BMO Harris Bank for five years. She began her career in community banking, joining BMO Financial Group in corporate and institutional banking in 1983. Her previous corporate board experience includes directorships at DH Corporation and BMO Financial Corporation. "We are delighted to add a person of Ellen's caliber and experience to the company's board of directors," said Gary G. Greenfield, Diebold Nixdorf non-executive chairman of the board. "Her leadership experience in banking and expertise in a broad range of financial services will prove valuable for us as we leverage the full breadth of the company's assets in providing connected commerce solutions for clients around the world. As Ellen will fill the director seat vacated upon the retirement of Juergen Wunram, our chief operating officer, we thank him for all his contributions to the company and wish him the best in his retirement." About Diebold Nixdorf Diebold Nixdorf (NYSE:DBD) is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world's top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an 'always on' and changing consumer landscape. Diebold Nixdorf has a presence in more than 130 countries with approximately 23,000 employees worldwide. The organization is headquartered in North Canton, Ohio, USA. Visit www.DieboldNixdorf.com for more information. View original content with multimedia: http://www.prnewswire.com/news-releases/diebold-nixdorf-appoints-ellen-costello-to-board-of-directors-300653283.html SOURCE Diebold Nixdorf

http://www.cnbc.com/2018/05/23/pr-newswire-diebold-nixdorf-appoints-ellen-costello-to-board-of-directors.html

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Santa Fe school shooter's family express shock over teen's rampage

Santa Fe school shooter's family express shock over teen's rampage The family of Dmitrios Pagourtzis says what happened "seems incompatible with the boy we love" Ten people have died after a shooting at a Houston-area high school on Friday Local authorities have one suspect in custody and have detained another individual deemed a person of interest Published 20 Hours Ago The Associated Press The family of the 17-year-old student who opened fire on his Texas high school, killing 10 people and wounding 13 others, says what happened "seems incompatible with the boy we love." Dmitrios Pagourtzis family said in a statement Saturday, "We are as shocked and confused as anyone else by these events that occurred" while offering prayers and condolences to the victims. The family said it remained "mostly in the dark about the specifics of yesterday's tragedy" but "what we have learned from media reports seems incompatible with the boy we love." It added, "We share the public's hunger for answers as to why this happened, and will await the outcome of the investigation before speaking about these events." Pagourtzis is being held on capital murder charges. Investigators say he admitted "shooting multiple people." Meanwhile, authorities have released the names of the 10 people who were killed in the mass shooting at a Texas high school. The Galveston County medical examiner's office and sheriff's office issued a statement Saturday listing those killed as: Glenda Perkins; Cynthia Tisdale; Kimberly Vaughan; Shana Fisher; Angelique Ramirez; Christian Riley Garcia; Jared Black; Sabika Sheikh; Christopher Jake Stone; and Aaron Kyle McLeod. Perkins and Tisdale were teachers. The others were students at Santa Fe High School.

https://www.cnbc.com/2018/05/19/santa-fe-school-shooters-family-express-shock-over-teens-rampage.html

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TREASURIES-Yields drift higher on political uncertainty over Iran, Italy

By Kate Duguid NEW YORK, May 8 (Reuters) - U.S. government bond yields across maturities drifted higher on Tuesday, as uncertainty about the fate of the Iran nuclear deal and Italian elections spurred a moderate sell-off. Treasury yields followed the dollar up. The dollar extended its earlier gains versus a basket of currencies to a fresh 2018 high on Tuesday as pessimism about the United States remaining in the Iran deal spurred safe-haven demand for the greenback. "What the market is pricing at this point - though not pricing fully - is a scrapping of the (Iran) deal but without a plan B in place," said Bruno Braizinha, interest rates strategist Societe Generale in New York. U.S. President Donald Trump is expected to announce later on Tuesday that he is pulling out the deal, European officials said, after they struggled to persuade him that the accord has halted Iran's nuclear ambitions. A rise in Italian bond yields also drove the moderate increase in their American counterparts on Tuesday. "A bit of the risk-off sentiment is driven by the widening we've seen in peripheral Europe, particularly in Italy," Braizinha said. Italian government bond yield rose sharply on Tuesday, lifting southern European peers, as the possibility of an early Italian election increased with the country's largest anti-establishment parties polling strongly. This raises the likelihood of an unprecedented immediate return to the polls, even as early as July. The 10-year Treasury yield was last at 2.980 percent, above Monday's close at 2.950 percent. The 30-year yield was last at 3.141 percent, above its last close at 3.120 percent. The two-year note's yield was last at 2.514 percent, up from 2.497 at the end of Monday's session. The Treasury Department will kick off this week's auctions of $73 billion in U.S. debt with the sale of $31 billion in three-year notes on Tuesday. This represents an increase in issuance of $1 billion from April, and of $7 billion from February. The Treasury on May 2 announced the increased supply of debt to offset the impact of the Federal Reserve's reduction in its bond buying. The new debt supply will also be used to fund the $1.5 trillion the Republican-backed tax cut will add to the federal deficit. May 8 Tuesday 10:27AM New York / 1427 GMT Price US T BONDS JUN8 143-5/32 -0-13/32 10YR TNotes JUN8 119-120/256 -0-56/25 6 Price Current Net Yield % Change (bps) Three-month bills 1.85 1.8846 0.050 Six-month bills 2.0125 2.0615 0.030 Two-year note 99-188/256 2.5135 0.016 Three-year note 99-60/256 2.6476 0.017 Five-year note 99-182/256 2.8126 0.029 Seven-year note 99-168/256 2.9298 0.030 10-year note 98-24/256 2.976 0.026 30-year bond 97-88/256 3.1378 0.018 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 26.00 -0.75 spread U.S. 3-year dollar swap 22.00 -0.50 spread U.S. 5-year dollar swap 12.25 -0.75 spread U.S. 10-year dollar swap 3.50 -0.25 spread U.S. 30-year dollar swap -10.50 0.50 spread (Reporting by Kate Duguid; Editing by Will Dunham)

https://www.reuters.com/article/usa-bonds/treasuries-yields-drift-higher-on-political-uncertainty-over-iran-italy-idUSL1N1SF0XM

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UPDATE 8- face-off: EU gets little news from Zuckerberg

* CEO faced grilling over Cambridge Analytica scandal * Lawmakers complain, face criticism over format * Days before tough EU data protection rules take effect * Zuckerberg to meet France's Macron on Wednesday (Recasts, adds details and reactions) BRUSSELS, May 22 (Reuters) - Facebook CEO Mark Zuckerberg sailed through a grilling from EU lawmakers about the social network's data policies as lengthy questions left the 34-year-old American little time to answer. Betraying little emotion, Zuckerberg apologised to leaders of the European Parliament in Brussels for a massive data leak, in his latest attempt to draw a line under the damaging scandal. However, he avoided answering numerous specific questions, notably around opt-outs from targeted advertising, the sharing of data between Facebook and its messaging service WhatsApp, as well as Facebook's collection of data on non-users. He spoke for over half an hour in total, mostly repeating assurances and descriptions of Facebook plans that he detailed to U.S. lawmakers during 10 hours of hearings in Washington last month. Though some questions were sharp, there was no chance for the Europeans to follow up if they felt the answers fell short. Investment analysts heard little new and Facebook's share price showed no reaction to the event, holding at the level to which it has recovered after taking a hit on the scandal. "I asked you six 'yes or no' questions; I got not a single answer," said Philippe Lamberts of the Greens, one of 12 party leaders and lead legislators whose questions to Zuckerberg took up nearly half of a hearing - broadcast live after complaints about an original plan for a closed-door meeting. Zuckerberg had agreed to meet the lawmakers to answer questions about how political consultancy Cambridge Analytica improperly got hold of the personal data of 87 million Facebook users, including up to 2.7 million in the EU. "SORRY" AND SOUVENIRS He used an initial 10-minute address to apologise. "That was a mistake and I am sorry for it," he said. Not enough was done to prevent the breach, he added, promising the company was now better prepared and was working on further improvements. The dozen MEPs then asked their questions, ranging from the German conservative leader asking Zuckerberg why his giant firm should not be broken up as a monopoly to complaints from Brexit campaigner Nigel Farage, an ally of French nationalist Marine Le Pen, that Facebook was now biased against right-wing parties. That left barely 10 more minutes of the allotted time for replies -- though Zuckerberg spoke for a further quarter hour before the Italian speaker of the legislature, President Antonio Tajani, brought a somewhat disorderly halt to proceedings. Over shouted complaints and repeated questions, the Facebook CEO and his adviser promised follow-up written answers; at least one lawmaker, Swedish liberal Cecilia Wikstrom, also found time to pose for a souvenir photo with the youthful tech supremo, who uncharacteristically wore a dark suit and tie for the occasion. British Conservative Syed Kamall complained the hearing was a "get-out-of-jail-free card" for Zuckerberg and said Facebook's reluctance to detail some of its workings left regulators trying to "cure a disease without knowing what the illness is". The MEPs also faced criticism. Dominique Deckmyn of Belgian paper De Standaard tweeted: "First, they used up all their time speaking to make themselves look good, then complained loudly that Zuckerberg had no time left to answer." In his opening remarks, Zuckerberg said it had "become clear over the last couple of years that we haven't done enough to prevent the tools we've built from being used for harm as well." "Whether it's fake news, foreign interference in elections or developers misusing peoples information, we didnt take a broad enough view of our responsibilities." ECHO OF WASHINGTON His comments echoed an apology last month to U.S. lawmakers. But questions remain over how Facebook let the leak happen and whether it is doing enough to prevent a recurrence. Zuckerberg's appearance in Brussels came three days before tough new EU rules on data protection take effect. Companies will be subject to fines of up to 4 percent of global turnover for breaching them. Zuckerberg said Facebook expected to be compliant with the EU rules, called the General Data Protection Regulation, when they come into force on Friday, stressing a commitment to Europe where Facebook will employ 10,000 people by the end of the year. He avoided giving details about how non-Facebook users could stop the company from collecting their data, abruptly changing the subject to the company's relationship with third-party apps. Last month, Facebook said it had no plans to build a tool to allow non-users to find out what the company knows about them, something that U.S. lawmakers had asked about. Since the Cambridge Analytica scandal, Facebook has suspended 200 apps from its platforms as it investigates third-party apps that have access to large quantities of user data. Zuckerberg said he expected more apps to be penalised. Cambridge Analytica and its British parent, SCL Elections Ltd, have declared bankruptcy and closed down. Zuckerberg said investments in security would significantly impact Facebook's profitability, but "keeping people safe will always be more important than maximising our profits". Some European officials want a tougher line on big technology firms, however. Facebook's compliance with the new EU data rules will be closely watched, as will its efforts to tackle the spread of fake news ahead of European Parliament elections next year. "Some sort of regulation is important and inevitable," Zuckerberg said, but he echoed calls in the United States that innovation should not be stifled. Zuckerberg will go on to meet French President Emmanuel Macron on Wednesday but has so far declined to appear in front of British lawmakers. (Additional reporting by David Ingram, Robert-Jan Bartunek, Gabriela Baczynska, Robin Emmott and Alastair Macdonald Editing by Mark Potter, David Stamp and Alastair Macdonald)

https://www.cnbc.com/2018/05/22/reuters-america-update-8-facebook-face-off-eu-gets-little-news-from-zuckerberg.html

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ORIC Has Appointed Jacob Chacko, MD as Chief Executive Officer

SAN FRANCISCO, May 7, 2018 /PRNewswire/ -- ORIC Pharmaceuticals, a clinical-stage oncology company focused on discovery and development of novel therapies against treatment-resistant cancers, announced today the appointment of Jacob Chacko, MD, as Chief Executive Officer. Rich Heyman, PhD, who has been serving as the interim CEO, will become Chairman of the ORIC Board of Directors. The current Chairman, Peter Svennilson, will remain on the board. "Rich has been a key part of the ORIC story, and has ably led the company, including recently raising a new round of funding and advancing the pipeline, said Peter Svennilson, member of the board and outgoing Chairman. "The board is pleased that he will continue to guide the Company as a strategic partner for Jacob and the executive team." "We are thrilled to welcome Jacob as the new CEO of ORIC," said Rich Heyman, incoming Chairman. "The board determined that Jacob's broad experience in the healthcare industry, combined with his strategic expertise and previous success at Ignyta and TPG Capital, ideally position him to be a great partner to the board and management as we work to bring better therapies to patients with cancer." "I am honored by the opportunity the board has extended to me, and am looking forward to working with the board and management to lead ORIC in its next phase of growth," said Jacob Chacko. "I have been impressed by the ongoing engagement of ORIC's successful founders and the clinical expertise and scientific rigor of the team. I look forward to progressing our lead candidate, ORIC-101, and the other pipeline assets as we address the significant clinical challenge of therapy resistance." Dr. Chacko was most recently CFO of Ignyta, a NASDAQ-listed precision oncology company acquired by Roche in February 2018. At Ignyta, he had a broad operational role and helped raise over $500 million in capital. During his tenure, the company grew from fewer than 20 employees and a $50 million enterprise value to 125 employees and a $1.7 billion enterprise value at the time of acquisition. Prior to Ignyta, Dr. Chacko was an investor at TPG Capital, where he helped lead teams that completed acquisitions having an aggregate value of over $10 billion. He has served on the board of directors of RentPath and EnvisionRx and was a board observer to Par Pharmaceutical, IMS Health and Quintiles Transnational. He previously served on the board of the Packard Children's Health Alliance at the Lucile Packard Children's Hospital Stanford. Dr. Chacko concurrently received his M.D. from UCLA and his M.B.A. from Harvard Business School. Prior to that, he was a consultant serving healthcare clients at McKinsey & Company and received a M.Sc. from Oxford University as a Marshall Scholar. He currently serves on the board of directors of Bonti and AROG Pharmaceuticals and chairs the Western Regional Selection Committee for the Marshall Scholarship. About ORIC Pharmaceuticals ORIC Pharmaceuticals is a privately held oncology company focused on making cancer treatments more effective by addressing mechanisms of resistance. ORIC was founded by Drs. Charles Sawyers MD and Scott Lowe PhD, who have strong records of discovering innovative treatments and targets in cancer. The company has assembled strong leadership and scientific teams and a board with extensive experience in drug development and financing. ORIC is funded by leading biotechnology investors, including The Column Group , Topspin Partners , OrbiMed Advisors , EcoR1 Capital , Fidelity Management & Research Company, Trinitas Capital, Foresite Capital , Taiho Ventures, Memorial Sloan Kettering, Kravis Investment Partners and NS Investment. ORIC is headquartered in South San Francisco, California. For more information, please contact: Krys Corbett 650-388-5622 194525@email4pr.com http://oricpharma.com/ View original content: http://www.prnewswire.com/news-releases/oric-has-appointed-jacob-chacko-md-as-chief-executive-officer-300643257.html SOURCE ORIC Pharma

http://www.cnbc.com/2018/05/07/pr-newswire-oric-has-appointed-jacob-chacko-md-as-chief-executive-officer.html

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Gold Little Changed as Rate Worries Remain

A declining dollar boosted gold and other metals for the second straight session Friday, but the yellow metal erased its slight early gains as worries about higher interest rates continued to hinder its momentum. Front-month gold for May delivery declined 0.1% to $1,319.00 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices have stayed between about $1,305 and $1,360 this year, moving within that range based on swings in the U.S. currency, worries about higher interest rates and safe-haven demand. ... To Read the Full Story Subscribe Sign In

https://www.wsj.com/articles/gold-inches-higher-with-dollar-weaker-1526049995

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Peace deal to benefit both sides in Mideast conflict, says White House senior advisor Kushner

White House senior adviser Jared Kushner will say on Monday at the opening ceremony for the U.S. Embassy in Jerusalem that it is possible for both sides in the Israeli-Palestinian conflict to gain more than they give in any peace deal. Kushner, the U.S. envoy to the Middle East and President Donald Trump's son-in-law, was to speak amid tensions over Trump's decision to move the embassy to Jerusalem from Tel Aviv. The Trump administration has nearly completed a long-awaited Israeli-Palestinian peace plan but is still undecided on how and when to roll it out, given Palestinian anger at Trump's embassy move. "We believe, it is possible for both sides to gain more than they give so that all people can live in peace safe from danger, free from fear, and able to pursue their dreams," Kushner will say, according to speech excerpts seen by Reuters. "Jerusalem must remain a city that brings people of all faiths together," he will say. The Palestinians, who want their own future state with its capital in East Jerusalem, have been outraged by Trump's shift from previous administrations' preference for keeping the U.S. Embassy in Tel Aviv pending progress in peace efforts. As the United States prepared to open its embassy, Israeli forces killed at least 28 Palestinians along the Gaza border, health officials said, as demonstrators streamed to the frontier. Some 900 Palestinians were wounded, about 450 of them by live bullets, the officials said. Most countries say Jerusalem's status should be determined in a final peace settlement, and say moving their embassies now would prejudge any such deal. Kushner will defend the embassy move in his remarks. "While presidents before him have backed down from their pledge to move the American Embassy once they were in office, this president delivered. Because when President Trump makes a promise, he keeps it," Kushner will say. He will also address the challenge from Iran a week after Trump withdrew the United States from the 2015 I ran nuclear deal despite pressure from European allies to stick with the agreement. "Iran's aggression threatens the many peace-loving citizens throughout the region and the world. From Israel to Jordan to Egypt to Saudi Arabia and beyond, many leaders are fighting to modernize their countries and create better lives for their people," Kushner will say. "In confronting common threats, and in pursuit of common interests, previously unimaginable opportunities and alliances are starting to emerge," he will say.

https://www.cnbc.com/2018/05/14/peace-deal-to-benefit-both-sides-in-mideast-conflict-says-white-house-senior-advisor-kushner.html

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BG Staffing, Inc. Announces Record Q1 2018 Financial Results

PLANO, Texas, April 30, 2018 /PRNewswire/ -- BG Staffing, Inc. (NYSE American: BGSF), a rapidly growing national provider of professional temporary staffing services, today reported record financial results for its first quarter ended April 1, 2018. Quarter One 2018 Results 2018 2017 Change % Change (amounts in thousands, except per-share amounts) Revenues $ 66,855 $ 56,844 $ 10,011 17.6 % Gross profit $ 17,310 $ 13,671 $ 3,639 26.6 % Gross profit percentage 25.9 % 24.1 % 1.8 % 7.5 % Net income $ 2,466 $ 1,302 $ 1,164 89.4 % Net income per diluted share $ 0.27 $ 0.15 $ 0.12 80.0 % Weighted average diluted shares 9,087 8,924 163 1.8 % Adjusted EBITDA (1) $ 5,399 $ 4,143 $ 1,256 30.3 % Adjusted EBITDA percentage (2) 8.1 % 7.3 % 0.8 % 11.0 % L. Allen Baker, Jr., President and CEO, stated, "I'm very pleased with our 1 st quarter 2018 financial results - they are a reflection of BG Staffing's unique value proposition, the solid performance from our recent acquisitions, and our disciplined approach to cost control. We met or exceeded our goals in every significant category. I want to thank our team and customers." Conference Call The Participant Dial-In Number for the conference call is 1-631-891-4304. Participants should dial in to the call at least five minutes before 8:00am PT (11:00am ET) on May 11, 2018. The call can also be accessed "live" online at http://public.viavid.com/index.php?id=129254 . A replay of the recorded call will be available for 90 days on the Company's website ( http://bgstaffing.investorroom.com/ ). You can also listen to a replay of the call by dialing 1-844-512-2921 (international participants dial 1-412-317-6671) starting May 11, 2018, at 2:00pm ET through May 18, 2018 at 11:59 pm ET. Please use PIN Number 10004620. 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 achieving scalable growth. The Company was ranked as the 60 th largest U.S. staffing company in 2017 and was named the 71 st fastest growing staffing company in the country in 2016 by Staffing Industry Analysts. The Company's disciplined acquisition philosophy, which builds value through both financial growth and the retention of unique and dedicated talent within BG Staffing's portfolio of companies, has resulted in a seasoned management team with strong tenure and the ability to offer exceptional service to candidates and customers while building value for investors. For more information on the Company and its services, please visit its website at www.bgstaffing.com . (1) Non-GAAP financial measure. See reconciliation at end for details. (2) Adjusted EBITDA as a percentage of revenue. Forward-Looking Statements The forward-looking statements in this press release are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those indicated by the forward-looking statements 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 Securities and Exchange Commission. 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 forward-looking statements. When used in this press release, 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 forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements 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 BG Staffing, Inc. Non-GAAP Financial Measures The financial results of BG Staffing, Inc. are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules of the U.S. Securities and Exchange Commission. To help the readers understand the Company's financial performance, the Company supplements its GAAP financial results with Adjusted EBITDA. A non-GAAP financial measure is a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of a company. Adjusted EBITDA is not measurement of financial performance under GAAP and should not be considered as an alternative to net income, operating income, or any other performance measure derived in accordance with GAAP, or as an alternative to cash flow from operating activities or a measure of our liquidity. We believe that Adjusted EBITDA is a useful performance measure and is used by us to facilitate a comparison of our operating performance on a consistent basis from period-to-period and to provide for a more complete understanding of factors and trends affecting our business than measures under GAAP can provide alone. In addition, the financial covenants in our credit agreement are based on Adjusted EBITDA as defined in the credit agreement. We define "Adjusted EBITDA" as earnings before interest expense, income taxes, depreciation and amortization expense, non-cash items, and certain items that management does not consider in assessing our on-going operating performance. Reconciliation of Net Income to Adjusted EBITDA Thirteen Weeks Ended April 1, 2018 March 26, 2017 (dollars in thousands) Net income $ 2,466 $ 1,302 Interest expense, net 871 559 Income tax expense 699 833 Depreciation and amortization 1,296 1,371 Share-based compensation 67 78 Adjusted EBITDA $ 5,399 $ 4,143 View original content with multimedia: http://www.prnewswire.com/news-releases/bg-staffing-inc-announces-record-q1-2018-financial-results-300639257.html SOURCE BG Staffing, Inc.

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China's offshore money rates rise ahead of MSCI inclusion

May 25, 2018 / 6:27 China's offshore money rates rise ahead of MSCI inclusion Reuters Staff 7 Min Read SHANGHAI, May 25 (Reuters) - Offshore yuan money market rates rose this week ahead of the inclusion of Chinese stocks in MSCI indexes, which is expected to drive strong demand for the currency, although analysts say recent central bank moves will prevent a liquidity crunch. One-year forwards on the offshore yuan, or CNH, stood at 915 points on Friday afternoon, compared with its closing price of 850 points a week earlier. The price of one-year offshore yuan forwards has fallen by about one-third so far this year. MSCI said on May 15 that it would include 234 yuan-denominated stocks, or China A-shares, in its benchmark Emerging Markets and All Country World Index indexes from June 1. The inclusion will represent an aggregate weight of 0.39 percent in the MSCI Emerging Markets Index at an initial 2.5 percent partial inclusion factor. Inclusion is expected to lead to a surge in foreign money flows into the A-shares, with the bulk of flows taking advantage of cross-border stock connect schemes with Hong Kong. To head off a crunch caused by spiking demand for offshore yuan, the People's Bank of China (PBOC) last week introduced measures to support cross-border fund flows, allowing banks involved in offshore yuan clearing and settlement to tap onshore liquidity. "The changes should greatly relieve liquidity pressure on the offshore CNH market, and reduce the upside risk to CNH forward points," said Frances Cheung, head of macro strategy for Asia at Westpac Institutional Bank in Singapore. "In particular, offshore investors under Stock Connect are allowed access to onshore FX market for funds and FX hedges. This should mean the renminbi funds for northbound flows can be sourced from onshore CNY, not necessarily withdrawing liquidity from CNH," she said. The cost of borrowing yuan in Hong Kong eased over the course of the week, with the rate for overnight contracts at 3.21467 percent on Friday, from 3.37367 percent a week earlier. As well as helping to avoid an offshore crunch, improved onshore access is likely to support the onshore yuan's value. "We expect the CNH-CNY spread to narrow as part of the CNH buying flow for A-share would divert to CNY market," said Ken Cheung, senior Asian FX strategist at Mizuho Bank in Hong Kong. The spread between onshore and offshore rates was at 54 pips early Friday afternoon, with CNY trading at a discount to CNH. Primary onshore money rates rose this week as the PBOC drained a net 30 billion yuan from money markets. The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the best indicator of general liquidity in China, was 2.7808 percent. That is 8.5 basis points higher than the previous week's closing average rate 2.6962. The Shanghai Interbank Offered Rate (SHIBOR) for same tenor rose to 2.7940 percent, up 2.6 basis points from the previous week's close of 2.7680 percent. The one-day or overnight rate stood at 2.5069 percent and the 14-day repo stood at 3.7326 percent. Key money rates at a glance: Volume-wei Previous Change (bps) Volume ghted day (%) average rate (%) Interbank repo market Overnight 2.5069 2.5141 -0.72 0.00 Seven-day 2.7808 2.6934 +8.74 0.00 14-day 3.7326 3.7937 -6.11 0.00 Shanghai stock exchange repo market Overnight 3.2500 2.7300 +52.00 220,628.3 0 Seven-day<CN7DR 4.4900 3.7300 +76.00 42,568.90 PO=SS> 14-day 3.9150 3.7000 +21.50 2,818.70 PBOC Guidance Rates Overnight 2.5200 2.5300 -1.00 <CN1DRPFIX=CFXS > Seven-day 3.0000 2.7500 +25.00 <CN7DRPFIX=CFXS > 14-day 3.8000 3.8200 -2.00 <CN14DRPFIX=CFX S> SHANGHAI INTERBANK OFFERED RATE Overnight 2.5280 2.5300 -0.20 Seven-day 2.7940 2.7510 +4.30 Three-month 4.2150 4.1930 +2.20 KEY INTEREST RATE SWAPS: Instrument RIC Rate Spread vs 1 yr official deposit rate* 2 yr IRS based on 1 CNABAD2YF= 0.0000 -1.5 year benchmark 5 yr 7-day repo swap CNYQB7R5Y= 3.5550 n/a *This spread can be seen as a proxy for forward-looking market expectations of an interest rate cut or rise China FX and money market guide: China debt market guide: SHIBOR rates: Reports on central bank open market operations: New Chinese debt issues: Prices for central bank bills, treasury bonds and sovereign bonds: Overview of China financial market data: (Reporting by Andrew Galbraith and Winni Zhou; Editing by Sam Holmes)

https://www.reuters.com/article/china-bonds/chinas-offshore-money-rates-rise-ahead-of-msci-inclusion-idUSL5N1SW0H7

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Beleave to Acquire Medi-Green Cannabis Clinic Network

TORONTO, May 1, 2018 /PRNewswire/ - Beleave Inc. (" Beleave " or the " Company ") (CSE: BE; OTCQX: BLEVF) is pleased to announce that it has entered into a definitive agreement to purchase all of the outstanding shares of 9334416 Canada Inc., o/a Medi-Green, Karmacann, and My-Grow (" Medi-Green "), a leading network of medical cannabis clinics with three current locations across Ontario (the " Transaction "). Subject to customary closing conditions, including the completion of certain filings with the Canadian Securities Exchange (the " CSE "), the Transaction is expected to close on or about May 8, 2018 (the " Closing Date "). Under the terms of the Transaction, Beleave will pay an aggregate purchase price of $3 million to the Medi-Green shareholders payable through the issuance of common shares in the capital of the Company (the " Beleave Shares ") with price determined based on the Company's 10-day VWAP leading up to closing. The Medi-Green shareholders will also be entitled to receive up to $2 million of additional Beleave Shares if certain operational milestones are attained following the first twelve months of the Closing Date. "The acquisition of Medi-Green marks the first step in executing the Company's client acquisition strategy while becoming more closely involved in an integral part of the patient experience. Integrating with clinics is a proven model which provides a significant and fluid referral program between medical practitioners and prescribing doctors," commented Andrew Wnek, Beleave's Chief Executive Officer. "The Company plans to expand the reach of Medi-Green's clinic network across Canada." Medi-Green has operated since 2015 and since then has opened 3 locations with plans to rapidly expand its footprint over the next 12 months. The company currently has an active patient base of approximately 4,000 with average patient subscriptions in the 2 to 3 gram per day range. Medi-Green has no long-term debt and had annual revenue of approximately $2.9 Million in 2017. As part of the agreement the Medi-Green leadership team will remain on board and will continue operating the business as a wholly-owned subsidiary of Beleave. "Our team is eager and excited to work under the Beleave brand. We feel our team aligns nicely with Beleave and their attention to quality assurance and sound science will be beneficial to our patients," commented Trevor Hands, C.E.O. of Medi-Green. "Together I think we can bring strong vision and expertise to multiple areas of the ACMPR market, the newly emerging recreational sector, as well as other domestic and international opportunities. We plan on adding at least six more locations by the end of 2018." About Beleave Beleave Inc. is a biotech company and Beleave's wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave's purpose-built facility is located in Hamilton, Ontario. Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These risks and uncertainties include, but are not limited to, the Company's ability to satisfy the conditions associated with its cultivation license, the Company's ability to obtain a sales license and the related timing considerations, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. There is no assurance that the Transaction will close on the terms or within the timeframe contemplated herein or at all. Assuming the Transaction is completed, certain risks relating to the integration and future performance of Medi-Green may also arise. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com . View original content with multimedia: http://www.prnewswire.com/news-releases/beleave-to-acquire-medi-green-cannabis-clinic-network-300640145.html SOURCE Beleave Inc.

http://www.cnbc.com/2018/05/01/pr-newswire-beleave-to-acquire-medi-green-cannabis-clinic-network.html

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Trump-Kim Jong Un summit 'probably was a bad idea in the first place': Former US ambassador

4 Hours Ago | 03:07 Any meeting between President Donald Trump and North Korean leader Kim Jong Un "probably was a bad idea in the first place," Thomas Hubbard, former U.S. ambassador to South Korea , told CNBC on Thursday. Trump and Kim were too far apart on the objectives of next month's now-canceled summit , said Hubbard, who served in diplomatic roles during the administrations of George W. Bush and Bill Clinton . It was "probably doomed from the outset," added Hubbard, a principal negotiator of the 1994 framework that had been aimed at ending North Korea's nuclear weapons program. Meanwhile, former U.S. Ambassador Nicholas Burns , in an earlier CNBC interview, said Trump made the "right move" on Thursday in canceling the Kim summit. Referring to angry statements in recent days out of North Korea , Burns said these were not the actions of leader who sincerely wants to work toward dismantling his nuclear apparatus. North Korean Vice Minister of Foreign Affairs Choe Son Hui said early Thursday, "I cannot suppress my surprise at such ignorant and stupid remarks gushing out from the mouth of the U.S. vice-president." The remarks out of Pyongyang were in response to what Vice President Mike Pence said in a Monday interview on Fox News. Pence said, "As the president made clear, this will only end like the Libyan model ended if Kim Jong Un doesn't make a deal." The reference to Libya , which was forced to give up its nuclear weapons in 2003 and later saw the regime of its former leader Moammar Gadhafi decimated by NATO during the country's civil war, set North Korea on edge. Trump's decision to pull the plug on the Kim meeting demonstrates U.S. strength, which is a "good thing right now," said Burns, currently a professor at the Harvard Kennedy School of Government. A summit may happen at some point, but for now, keeping U.S. sanctions in place against North Korea is the "leverage" to possibly bring Kim around, said Burns, whose 27-year career in foreign service spanned both Republican and Democratic administrations. Burns served as U.S. ambassador to NATO and was the State Department's third-ranking diplomat during the presidency of Bush 43. He also advised George H.W. Bush and Clinton. WATCH: Burns on Trump's decision to cancel Kim summit show chapters

https://www.cnbc.com/2018/05/24/trump-kim-summit-bad-idea-in-the-first-place-former-us-ambassador.html

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US jury awards Apple $539 million in Samsung patent retrial

Tech Guide US jury awards Apple $539 million in Samsung patent retrial A U.S. jury has ruled that Samsung should pay $539 million to Apple for copying patented smartphone features. The jury had been deliberating the latest case since last week. Samsung has previously paid Apple $399 million to compensate for the infringement of some of the patents at issue in the case. The world's top smartphone rivals have been in court over patents since 2011. Published 14 Hours Ago Reuters Justin Sullivan | Getty Images After nearly five days of deliberations, a U.S. jury on Thursday said Samsung Electronics Co Ltd should pay $539 million to Apple Inc for copying patented smartphone features, according to court documents, bringing a years-long feud between the technology companies into its final stages. The world's top smartphone rivals have been in court over patents since 2011, when Apple filed a lawsuit alleging Samsung's smartphones and tablets "slavishly" copied its products. Samsung was found liable in a 2012 trial, but a disagreement over the amount to be paid led to the current retrial over damages where arguments ended on May 18. Samsung previously paid Apple $399 million to compensate Apple for infringement of some of the patents at issue in the case. The jury has been deliberating the case since last week. Because of that credit, if the verdict is upheld on appeal it will result in Samsung making an additional payment to Apple of nearly $140 million. In a statement, Apple said it was pleased that the members of the jury "agree that Samsung should pay for copying our products." "We believe deeply in the value of design," Apple said in its statement. "This case has always been about more than money." show chapters 12:36 PM ET Thu, 24 May 2018 | 04:32 Samsung did not immediately say whether it planned to appeal the verdict but said it was retaining "all options" to contest it. "Today's decision flies in the face of a unanimous Supreme Court ruling in favor of Samsung on the scope of design patent damages," Samsung said in a statement. "We will consider all options to obtain an outcome that does not hinder creativity and fair competition for all companies and consumers." The new jury verdict followed a trial in San Jose, California, before Judge Lucy Koh that focused on how much Samsung should pay for infringing Apple patents covering aspects of the iPhone's design. The jury awarded Apple $533.3 million for Samsung's violation of so-called design patents and $5.3 million for the violation of so-called utility patents. Apple this year told jurors it was entitled to $1 billion in profits Samsung made from selling infringing phones, saying the iPhone's design was crucial to their success. Samsung sought to limit damages to about $28 million, saying it should only pay for profits attributable to the components of its phones that infringed Apple patents. Jurors in the earlier trial awarded $1.05 billion to Apple, which was later reduced. show chapters 11:37 AM ET Thu, 26 April 2018 | 00:49 Samsung paid $548 million to Apple in December 2015, including $399 million for infringement of some of the patents at issue in this week's trial. Apple's case against Samsung raised the question of whether the total profits from a product that infringes a design patent should be awarded if the patent applies only to a component of the product, said Sarah Burstein, a professor of patent law at the University of Oklahoma. The verdict appears to be a compromise between Apple and Samsung's positions and does not offer much clarity on that question, said Burstein, who predicted Samsung would appeal it to the Circuit. "This decision just means we are going to have more uncertainty," Burstein said. "Smart tech industry players are waiting to see what the Federal Circuit does. This is just one jury applying one test." Related Securities

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UPDATE 3-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 (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 $78.22 per barrel at 0644 GMT, down 21 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $71.03 a barrel, down 28 cents, or 0.4 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-3-oil-dips-on-signs-of-ample-supply-despite-opec-cuts-iran-sanctions.html

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Mexico front-runner's lead widens a month before vote: Poll

Mexican presidential front-runner Andres Manuel Lopez Obrador has extended his lead well beyond his nearest rivals with just a month to go before the July 1 election, an opinion poll showed on Thursday. The survey by polling firm Parametria showed support for the leftist former mayor of Mexico City at 45 percent, an increase of six percentage points from a prior April poll. That gave Lopez Obrador more backing than his nearest two rivals combined. Lopez Obrador, 64, was runner-up in the previous two elections, with fears that he could destabilize the economy contributing to his defeat. This time frustration over corruption, rising violence and tepid growth have all helped lift his bid. Lopez Obrador's closest competitor is Ricardo Anaya, a former chairman of the center-right National Action Party (PAN), who is fronting a right-left coalition of parties. Bernardo Montoya | Reuters Mexico's President Enrique Pena Nieto However, support for Anaya slipped 5 percentage points to 20 percent, in spite of the May 16 withdrawal from the race of former first lady and onetime PAN member Margarita Zavala. "Anaya was expected to go up because of Margarita quitting, but it seems that the one who benefited was (Lopez Obrador)," Parametria founder Francisco Abundis said. Holding steady at 14 percent support in third place was former finance minister Jose Antonio Meade, the candidate of President Enrique Pena Nieto's Institutional Revolutionary Party, or PRI. The law prevents Pena Nieto from running again. The fourth candidate on the ticket, independent Jaime Rodriguez, dipped one point to 1 percent. Rodriguez was fined this week for raising illicit campaign funds. show chapters Canada, Mexico trade reps: Remaining in DC for talks 5:22 PM ET Thu, 26 April 2018 | 00:37 All told, 17 percent of respondents expressed no preference in the latest poll, which followed a separate survey by newspaper Reforma published on Wednesday that gave Lopez Obrador support of more than half the voters. Parametria said its poll consisted of 1,000 face-to-face interviews and was conducted from May 23-29. The poll had a margin of error of 3.1 percentage points. The silver-haired Lopez Obrador has pledged to root out corruption and reduce violence, as well as re-invigorate the domestic economy and address chronic inequality if elected. His room for maneuver as president will depend considerably on how much control his National Regeneration Movement (MORENA) party can exercise in Congress. The latest poll showed increasing support for MORENA, but it is unclear whether the party will have an outright majority. No party has held an absolute majority in Mexico since 1997. Support for MORENA and its two main allies came to about 37 percent in the lower house and 39 percent in the Senate. Once undecided voters are stripped out, the percentage rises.

https://www.cnbc.com/2018/05/31/mexico-andres-manuel-lopez-obrador-lead-widens-before-election-poll.html

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This 28-year-old made $2,400 in 4 months selling things online—here are her top 4 tips

At the start of 2018, Dallas Wolford felt inspired to declutter. "I realized I had all these things I didn't need," she tells CNBC Make It . Rather than tossing old clothes, kitchenware and tech gadgets, she decided to try to sell them. Having just finished med school, "I hadn't been making money," the 28-year-old says. "I'd just been spending a lot of money on education. And with that mounting debt, I wanted to slowly chip away at bills and school loans, so I created a huge pile of things to sell." She downloaded the selling app Mercari and started listing "a huge array of things. Anything from Nike tennis shoes to Kendra Scott jewelry." By April, after minimal effort and just four months of posting items on the app, she had an extra $2,400 in her bank account. The fact that the process was so efficient was important: After all, "time is a luxury and not something I have a lot of," says Wolford, who is currently studying for the boards. If you're looking for an easy way to make some extra cash, follow Wolford's top tips for selling anything in your closet or garage online. 1. Sell the small stuff Wolford's impressive profit this year "is not all from big ticket items," she says. "I did sell one laptop, but some of my items sell for just $10." Sales of kitchenware or clothes can add up: "Say you sell something for $10. After shipping and the seller fee, you'd maybe have $6. If you sell one item a day, after 10 days, you have $60 in your account that you would not have before. After 15 days, you'd have almost $100." Even if you don't earn thousands like Wolford has, an extra $60 to $100 is still something: "When it comes to those little items, I think people oftentimes think it's not worth selling. But think of what you could do for your kids for $60? Or what could you buy for your husband for Valentine's Day that you couldn't before." Courtesy of Dallas Wolford 28-year-old Dallas Wolford 2. Give lots of detail Wolford has found that items are more likely to sell when she includes a description with specific details, like the brand of the item. "People want to know exactly what it is they're buying," she says, adding that brands such as Nike, Lululemon and Patagonia sell quickly. 3. Be open-minded "I can't tell you how many things I've sold that I literally thought, 'Nobody is going to buy this,'" says Wolford. "I had athletic shorts that had paint on the side and somebody bought them. I don't think people realize that somebody will find value in things that you don't find value in anymore." Plus, "you have nothing to lose other than a minute of time from uploading it, and potentially $5 to $50 to gain." show chapters This 28-year-old's company makes millions buying from Walmart and selling on Amazon 11:46 AM ET Thu, 2 Nov 2017 | 01:40 4. Don't delay "The biggest thing is to just dive in and not put it off for later," says Wolford. Make a goal of selling one item a day, she says. And if you're having a hard time collecting things to sell, try following Wolford's rule of thumb: "If you haven't used it, touched it or worn it in a year, it's got to go. Don't hang onto things because you think you're going to use it. If you haven't used it, you're still not going to use it." There are other apps besides Mercari that make it easy to sell used items, including Letgo and OfferUp . If you're selling clothes, shoes and accessories, try sites like Poshmark , thredUP and TheRealReal . Keep in mind that even if your apartment is clean and tidy, chances are "there is a bunch of stuff you don't use that somebody else could find valuable," says Wolford. Like this story? Like CNBC Make It on Facebook ! Don't miss: 6 ways to make money without much effort Video created by Richard Washington . show chapters How to start a business with less than $1,000 3:17 PM ET Thu, 12 April 2018 | 03:13

https://www.cnbc.com/2018/05/30/top-tips-from-a-28-year-old-who-made-2400-selling-things-online.html

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PRECIOUS-Gold inches down as dollar stays firm near 3-1/2-month peak

BENGALURU, May 1(Reuters) - Gold prices inched lower early on Tuesday, hovering close to a nearly six-week low touched in the previous session, as the U.S. dollar held firm near a 3-1/2-month high. FUNDAMENTALS * Spot gold fell 0.1 percent to $1,314.00 per ounce at 0106 GMT. Prices slipped to $1,310.11 on Monday, their lowest since March 21. * U.S. gold futures for June delivery eased 0.3 percent to $1,315.10 per ounce. * The dollar index was little changed at 91.832. The greenback touched 91.986 on Friday, its highest since since Jan. 11. * Most markets in Asia are closed for a Labour Day holiday. * Federal Reserve officials are scheduled to convene on Tuesday and Wednesday for a regular policy meeting. The central bank is widely expected to stand pat on policy and investors will be watching for hints of a rate hike in June. * U.S. consumer prices accelerated in the year to March, with a measure of underlying inflation surging to near the Fed's 2 percent target as weak readings from last year dropped out of the calculation. * President Donald Trump has postponed a decision on imposing steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, and has reached an agreement in principle with Argentina, Australia and Brazil, a source familiar with the decision said on Monday. * South Korean trust in North Korea has surged since last week's feel-good summit at which their leaders declared an end to hostilities and to work towards denuclearisation of the peninsula. * Sales of U.S. Mint American Eagle gold coins dropped to their weakest April since 2007, while silver coin purchases for the month rose 10 percent higher than last year, U.S. government data showed on Monday. * India raised gold holdings by 2.2 tonnes to 560.3 tonnes in 2018 March -IMF Data DATA AHEAD (GMT) 1400 U.S. ISM manufacturing PMI Apr 1400 U.S. Construction spending Mar U.S. Federal Reserve starts two-day monetary policy meeting (Reporting by Eileen Soreng in Bengaluru; editing by Richard Pullin)

https://www.reuters.com/article/global-precious/precious-gold-inches-down-as-dollar-stays-firm-near-3-1-2-month-peak-idUSL3N1S809P

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How Steve Jobs odd habit can help you brainstorm ideas

If you find yourself stumped while brainstorming, consider adopting one of Steve Jobs' strategies for generating new ideas. The late Apple founder was known to do much of his creative thinking while taking a walk. He regularly held brainstorming meetings while walking, especially if the discussion was about a serious subject. In the book " Steve Jobs " by Walter Isaacson, the author recalls inviting Jobs to speak on a panel. Jobs declined the speaking engagement but noted that he would attend the event so the two could take a walk and talk. "I didn't yet know that taking a long walk was his preferred way to have a serious conversation," writes Isaacson. "It turned out that he wanted me to write a biography of him." The Apple founder's longtime friend Robert Friedland also recalls seeing Jobs "always walking around barefoot." On the Apple campus, Jobs and chief designer Jony Ive were often seen taking walks as they brainstormed new designs and concepts. show chapters Entrepreneur who sold Siri to Steve Jobs: These are 4 keys to launching a successful business 9:51 AM ET Wed, 24 May 2017 | 01:10 Though Isaacson initially thought Jobs' request to go on a walk was "odd," science suggests that walking is useful when brainstorming ideas. According to research from Stanford University , walking boosts creative thinking by an average of 60 percent. To gauge the effects of walking on creativity, researchers asked 176 college students to complete certain tasks while sitting, and then again while walking. In one experiment, participants were given several sets of three objects and told to come up with alternative uses for them. The researchers found that participants were "overwhelmingly" more creative when walking as opposed to sitting. They also found that creative thinking from walking remained high shortly after sitting back down. "Walking opens up the free flow of ideas," the researchers write in the study. These findings have major implications for the workplace, where employees spend most of the day sitting at desks. "Walking is an easy-to-implement strategy to increase appropriate novel idea generation," the authors write. "When there is a premium on generating new ideas in the workday, it should be beneficial to incorporate walks." show chapters Why the co-founders of Siri first turned down a buyout offer from Steve Jobs 1:27 PM ET Fri, 9 June 2017 | 01:38 However, the researchers found that sitting is a better option when you need to solve a problem that only has one right answer. In the study, test subjects were asked to come up with a single word that combines with the words "cottage, Swiss, and cake." Subjects who were sitting were better able to figure out that the correct answer was cheese. Jobs wasn't the only executive known to favor walking meetings. Facebook CEO Mark Zuckerberg , Twitter co-founder Jack Dorsey and Linkedin CEO Jeff Weiner all share this habit. Dorsey tells Fortune that he prefers the outdoors. He adds, "If I'm with a friend we have our best conversations while walking." Weiner notes in a 2013 LinkedIn post that he also enjoys an outdoor view, and will take a "walking 1:1 over office meetings any day." "This meeting format essentially eliminates distractions," he wrote, "so I find it to be a much more productive way to spend time." Like this story? Like CNBC Make It on Facebook . Don't miss: Jeff Bezos: You can have a job or a career, but if you have this you've 'hit the jackpot' show chapters Tim Cook says Apple founder Steve Jobs had this unique gift 5:07 PM ET Tue, 12 Sept 2017 | 02:55

https://www.cnbc.com/2018/05/08/how-steve-jobs-odd-habit-can-help-you-brainstorm-ideas.html

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