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How ‘Solo’ star Donald Glover (aka Childish Gambino) went from YouTube comic to ‘Star Wars’ 13 Mins Ago Before Donald Glover (also known as Childish Gambino) played Lando Calrissian in the new "Star Wars" movie, he was making viral YouTube comedy videos that caught Tina Fey's attention.

How ‘Solo’ star Donald Glover (aka Childish Gambino) went from YouTube comic to ‘Star Wars’

MOSCOW, May 4 (Reuters) - Russia’s National Wealth Fund declined to $63.91 billion as of May 1, down from $65.88 billion a month earlier, the Finance Ministry said on Friday. The ministry said earlier this year it had fully drained its Reserve Fund to plug budget holes by the end of 2017, ahead of switching to a new budget mechanism which will lower the dependence of the Russian economy on global oil prices. (Reporting by Darya Korsunskaya Writing by Katya Golubkova Editing by Maria Kiselyova)

Russia's National Wealth Fund at $63.91 bln as of May 1

STOCKHOLM, May 16(Reuters) - Swedish apartment prices fell 7 percent in the February-April period from the same period a year earlier, data from an association of Swedish real estate agents showed on Wednesday. Prices of single-family homes were unchanged, the Svensk Maklarstatistik association said. Compared with the January-March period, apartment prices were down 1 percent while single-family home prices were stable. Property prices in the Nordic country have surged higher for most of the last two decades and households are among Europe’s most indebted. But the market has cooled in recent months, mostly due to a surge in building and tighter mortgage regulations. Earlier this week, Statistics Sweden said the average price of Swedish houses fell 1 percent in the three months to the end of April. Most analysts and households expect the market to stabilize this year. Reporting by Johan Sennero; Editing by Simon Johnson

Swedish apartment prices fell 7 pct Feb-April vs year earlier - Maklarstatistik

Development of lead product candidate, AsiDNA™, for the treatment of advanced solid tumors, progressing according to plan DRIIV phase I clinical trial ongoing Interim results expected in H2 2018 Cash position of €9.2 million at March 31, 2018, sufficient to support Company’s operations until mid-2019, including through multiple key catalysts PARIS--(BUSINESS WIRE)-- Regulatory News: Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO FR0010095596), a biotechnology company specializing in the development of innovative drugs in oncology, notably against rare or resistant forms of cancer, today provided a business update and announced its consolidated revenues and cash position at March 31, 2018. Judith Greciet, Chief Executive Officer of Onxeo, said: “The first quarter of 2018 was highlighted by strong momentum in the development of AsiDNA™, our lead product candidate. Following the significant efforts of our R&D team over the previous months, we recently initiated the DRIIV phase I clinical trial in order to evaluate the potential of AsiDNA™, our first-in-class DNA repair inhibitor, administered intravenously, in patients with advanced solid tumors. We expect interim data from this study to be available in the second half of 2018. If these results confirm both the safety profile of AsiDNA™ and its activity, we will have achieved a key milestone in our AsiDNA™ development program. Importantly, we continue to advance our core R&D programs according to plan while maintaining strict cost control. As such, we expect that our current cash position of €9.2 million will support our currently planned activities until mid-2019, including through multiple potentially value-creating inflection points for our company.” Recent corporate highlights Initiated patient enrollment in the DRIIV ( D NA R epair I nhibitor administered I ntra V enously) phase I clinical trial of AsiDNA™ administered intravenously. The aim of the study is to assess the safety profile of AsiDNA™ and identify the optimal clinical dose, as well as determine its active dose at the tumor level, in patients with advanced solid cancers. The interim results are expected in the second half of 2018. Presented the results of two pre-clinical studies highlighting the potential of AsiDNA™ as an anti-cancer treatment during two poster sessions at the 2018 AACR Annual Meeting in April. Granted a composition of matter patent in Europe in January 2018 covering multiple product candidates, including AsiDNA™, and providing protection until 2031, with a potential extension to 2036. Onxeo’s intellectual property portfolio for DNA-targeting technologies, product candidates and combinations now includes 10 patent families worldwide. Q1 2018 financial information In the first quarter of 2018, revenues were €687 thousand and consisted of: €475 thousand in recurring revenue corresponding to net sales from the Beleodaq® named patient program in Europe, as well as royalties on sales from US partner, Spectrum Pharmaceuticals. Recurring revenues now relate solely to Beleodaq sales following the divestiture of non-core products, Loramyc® and Sitavig®, to Vectans Pharma in July 2017. Beleodaq revenues in the first quarter of 2018 were up 15% compared to the first quarter of 2017. €212 thousand in non-recurring revenue corresponding to the appropriate fraction of upfront payments from licensees. The implementation of the new IFRS15 standard regarding revenue recognition as of January 1, 2018, negatively impacted Onxeo’s non-recurring revenue by approximately €240 thousand in the first quarter of 2018. At March 31, 2018, the Company had a consolidated cash position of €9.2 million. Onxeo expects that these resources will be sufficient to support the Company’s operations until mid-2019, including currently planned clinical and pre-clinical activities, and through multiple potentially value-creating milestones. UPCOMING FINANCIAL PUBLICATIONS & EVENTS Shareholder’s general meeting on the second call : Tuesday, June 19, 2018 Half-year 2018 results: Friday, July 27, 2018 About Onxeo Onxeo (Euronext Paris, NASDAQ Copenhagen: ONXEO) is a French biotechnology company developing innovative oncology drugs based on DNA-targeting and epigenetics, two of the most sought-after mechanisms of action in cancer treatment today. The Company is focused on bringing early-stage first-in-class or disruptive compounds (proprietary, acquired or in-licensed) from translational research to clinical proof-of-concept, a value-creating inflection point appealing to potential partners. Onxeo’s R&D pipeline includes belinostat , an HDAC inhibitor (epigenetics) currently being developed in oral form to be used in combination with other anti-cancer agents for liquid or solid tumors. Belinostat is already conditionally FDA-approved in the US as a 2 nd line treatment for patients with peripheral T cell lymphoma and marketed in the US by Onxeo’s partner, Spectrum Pharmaceuticals, under the name Beleodaq® (belinostat IV form). Onxeo is also developing AsiDNA™ , a first-in-class DNA break repair inhibitor based on a unique decoy mechanism. AsiDNA™ has already successfully completed a Phase I trial in metastatic melanoma via local administration, and is currently being developed for systemic (IV) administration in solid tumors. AsiDNA™ is the first compound generated from platON™ , the Company’s proprietary chemistry platform of decoy oligonucleotides based on three components, a sequence of double strand oligonucleotides, a linker and a cellular uptake facilitator. PlatON™ will continue to generate new compounds that will broaden Onxeo’s pipeline. For further information, please visit www.onxeo.com . Forward looking statements This communication expressly or implicitly contains certain forward-looking statements concerning Onxeo and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Onxeo to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Onxeo is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of Onxeo to differ from those contained in the forward-looking statements, please refer to the section 5.7.1.4 “Risk Factors” ("Facteurs de Risque") of the 2017 reference document filed with the Autorité des marchés financiers on April 25, 2018 under number D.18-0389, which is available on the Autorité des marchés financiers website ( www.amf-france.org ) or on the Company’s website ( www.onxeo.com ). View source version on businesswire.com : https://www.businesswire.com/news/home/20180516006045/en/ Onxeo Valerie Leroy, +33 1 45 58 76 00 Investor Relations investors@onxeo.com or Media Relations Caroline Carmagnol / Tatiana Vieira, 33 (0) 1 44 54 36 65 alize-onxeo@alizerp.com or Investor Relations / Strategic Communication NewCap Dušan Orešanský / Emmanuel Huynh, +33 1 44 71 94 92 onxeo@newcap.eu or Investor Relations US LifeSci Advisors Brian Ritchie, +1-212-915-2578 britchie@lifesciadvisors.com Source: Onxeo S.A.

Onxeo Provides Business Update and Reports First Quarter 2018 Financial Information

May 7 (Reuters) - CPT Technology Group Co Ltd: * SAYS APRIL CONSOLIDATED REVENUE AT 366.6 MILLION YUAN, JAN-APR CONSOLIDATED REVENUE AT 1.5 BILLION YUAN ($235.72 million) Source text in Chinese: bit.ly/2jBC6Ll ($1 = 6.3636 Chinese yuan renminbi) (Reporting by Hong Kong newsroom) Our

CPT Technology Group's April Consolidated Revenue At 366.6 Million Yuan

Images of April 8:51am EDT - 01:38 Images taken by Reuters photographers around the world in April 2018, including the inter-Korean summit, deadly protests on the Gaza-Israel border, a migrant caravan seeking asylum in the U.S. and the Toronto van attack. Produced by David Lucas. Images taken by Reuters photographers around the world in April 2018, including the inter-Korean summit, deadly protests on the Gaza-Israel border, a migrant caravan seeking asylum in the U.S. and the Toronto van attack. Produced by David Lucas. //reut.rs/2rcclow

Images of April

The following Spanish stocks may be affected by newspaper reports and other factors on Tuesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: VIDRALA Vidrala said on Tuesday it expected double-digit annual growth in earnings per share for the full year 2018. PHARMA MAR Pharma Mar says gets recommendation of Independent Data Monitoring Committee (IDMC) to continue Phase III trial with Zepsyre in small-cell lung cancer. REE Goldman Sachs raises to “neutral” from “sell” ORYZON Oryzon Genomics has received approval from UK’s MHRA to conduct Phiia clinical trial with Ory-2001 in patients with Alzheimer. BANKIA Bankia says has entered into an agreement with Credit Agricole for creation of a joint venture to jointly operate in consumer finance segment in Spain. For today’s European market outlook double click on. For real-time moves on the Spanish blue-chip index IBEX please double click on For IBEX constituent stocks highlight .IBEX in the command box and press the F3 button on your keyboard For latest news on Spanish stock moves double click For Spanish language market report double click on For latest Eurostocks report please double click on

Spanish stocks - Factors to watch on Tuesday

May 21 (Reuters) - Nexeon Medsystems Inc: * NEXEON MEDSYSTEMS ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS * Q1 REVENUE $2.87 MILLION Source text for Eikon: Further company coverage:

BRIEF-Nexeon Medsystems Q1 Revenue $2.87 Million

May 17, 2018 / 4:41 PM / Updated 2 hours ago ATP World Tour Masters 1000 / WTA Premier, Rome Masters Men's Doubles Results Reuters Staff 2 Min Read May 17 (OPTA) - Results from the ATP World Tour Masters 1000 / WTA Premier, Rome Masters Men's Doubles matches on Thursday .. 2nd Round .. 1-Lukasz Kubot (POL) and beat Santiago Gonzalez (MEX) 7-6(4) 6-7(5) Marcelo Melo (BRA) and 1-0(2) Aisam-Ul-Haq Qureshi (PAK) 6-Juan Sebastian Cabal beat Robin Haase (NED) and 6-7(5) 7-5 (COL) and Jean-Julien Rojer (AHO) 1-0(8) Robert Farah (COL) 4-Henri Kontinen (FIN) and beat John Isner (USA) and 7-6(2) 6-3 John Peers (AUS) Jack Sock (USA) 8-Feliciano Lopez (ESP) beat Juan Martin del Potro (Walkover) and (ARG) and Marc Lopez (ESP) Leonardo Mayer (ARG) Pablo Cuevas (URU) and beat 7-Rohan Bopanna (IND) and 7-6(5) 6-4 Marcel Granollers (ESP) Edouard Roger-Vasselin (FRA) 2-Oliver Marach (AUT) and beat Steve Johnson (USA) and 0-6 6-3 1-0(14) Mate Pavic (CRO) Dominic Thiem (AUT)

ATP World Tour Masters 1000 / WTA Premier, Rome Masters Men's Doubles Results

FORT WORTH, Texas, May 3, 2018 /PRNewswire/ -- Galenfeha, Inc. (OTC: GLFH ) announced today the company signed a Letter of Intent to acquire Fleaux Services of Louisiana, LLC, a leading oil and gas measurement company, for $18,000,000 USD. The acquisition is contingent on Galenfeha's ability to raise the funds, and the Company has engaged Wall Street firm Paulson Investment Company, LLC as the lead placement agent for financing the transaction. Galenfeha's founder, Mr. James Ketner stated: "We have a lot of work to do, and I want to inform the public of some upcoming changes, so there are no surprises. Mr. Trey Moore, President/CEO, and founder of Fleaux Services, is assuming the role of Galenfeha's Chief Executive Officer. I believe there is nobody more qualified to take the position, as he is a young, charismatic leader with a great operational history in the oil and gas industry. He has the ability to lead the company to continued growth in the future. I will be working directly with Mr. Moore over the next several months as he transitions into the role." Building on his historic relationships in the oil and gas industry, Trey Moore founded Fleaux Services six years ago. The company is now a premier provider of oil and gas measurement, automation, and control equipment, boasting revenues of approximately $21m in 2016, approximately $36m in 2017, and revenues for first quarter 2018 of approximately $12m. Mr. Trey Moore, Galenfeha's newly appointed CEO commented: "I am excited about what lies ahead of us with this potential acquisition, and our most recent acquisition. I also want to thank Mr. Ketner for his personal sacrifices over the last year and a half in order to prepare Galenfeha for these opportunities. He has done a tremendous job staying focused and diligent in getting us to this point. We are looking forward to his continued involvement, direction, and leadership in our promising future." Mr. Ketner added: "In addition to the change in the CEO position, we will also be electing a new board of directors. In order to meet the listing requirements for the NYSE-MKT exchange, we need to have board independence, and have already identified two experienced candidates to fill the roles of Chairman and Audit committee chair." "Lastly, our investment firm has advised us to eliminate the preferred stock to make our capital structure less complicated for potential investors funding this transaction. All preferred shares will move 1:1 into the common. This should by no means be perceived as a rush for the door by our current affiliates. I personally believe there is a tremendous opportunity here for all investors going forward over the next several years," Mr. Ketner concluded. About Galenfeha, Inc.: Galenfeha, Inc. was founded by James Ketner in March 2013 as an Engineering Services/Research and Development company headquartered in Ft. Worth Texas. The company generates revenue by receiving royalties from products we developed, providing engineering, regulatory, and business consulting services across numerous disciplines, such as aerospace, automotive, and medical, and by making investments in companies that our management team feels to be undervalued. With the recent acquisition of Fleaux Solutions, LLC, the company also generates revenues and earnings through government contracts. The Company's stock has been actively traded (OTC: GLFH ) since September 2014. For more information on Galenfeha's products and services, please visit www.galenfeha.com About Fleaux Services of Louisiana, LLC: Fleaux Services was created from, and is based on, a simple concept—Service for the Customer, and the Employees are Assets. Fleaux Services has built a sales and support team with an industry reputation of making sure that the customer is taken care of with quality parts and service. Fleaux Services is a company committed to Oil and Gas industry innovative solutions with a creative vision of complete system automation through hardware and software products. While investing in its employees and customers' knowledge level of available technologies, we are devoted to creating simplicity through advanced Technology. An online presentation of Fleaux Services: https://prezi.com/view/xcQMMUlYCM1Y2vKuexSt/ For more information on Fleaux Services of Louisiana, LLC please visit www.fleaux.com Contact: Galenfeha, Inc. 817-945-6448 info@galenfeha.com Contact: Fleaux Services of Louisiana 318-603-5440 info@fleaux.com Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments. View original content with multimedia: http://www.prnewswire.com/news-releases/galenfeha-signs-letter-of-intent-to-acquire-fleaux-services-of-louisiana-llc-for-18-000-000-usd-300641743.html SOURCE Galenfeha, Inc.

Galenfeha Signs Letter Of Intent To Acquire Fleaux Services Of Louisiana, LLC For $18,000,000 USD

Italy's president appointed former International Monetary Fund official Carlo Cottarelli as interim prime minister on Monday with a task to try and form a new government and bring order to political and constitutional turmoil. The euro zone's third-largest economy has been seeking a new government since inconclusive March elections, with anti-establishment forces abandoning their efforts to form a ruling coalition at the weekend after a standoff with the president over their choice of economy minister. Cottarelli said on Monday that he will put together a government "very quickly" to accompany the country to fresh elections, to be held in the fall or early next year. "I'll present myself to parliament with a program which — if it wins the backing of parliament — would include the approval of the 2019 budget. Then parliament would be dissolved with elections at the beginning of 2019," Cottarelli said shortly after being named interim prime minister by Italy's president. "In the absence of (parliament's) confidence, the government would resign immediately and its main function would be the management of ordinary affairs until elections are held after the month of August," Cottarelli added.

Italy president names ex-IMF official as interim PM to form government

Short-seller Chris Brown is not a believer in Energous' technology. Energous "is a worthless equity," he said at the Kase Learning: The Art, Pain and Opportunity of Short Selling conference in New York. "Energous is a fraud, one which is burning a lot of cash and will run out of money. ... We expect the stock will go to $0." The investor doubted Apple will ever use Energous' wireless charging technology, as some investors are hoping for. VentureBeat has reported regulatory documents indicated Energous and Apple have been working together since 2014. show chapters Here are three reasons why you should change your old iPhone battery 2:24 PM ET Tue, 2 Jan 2018 | 01:48 Brown said what the company claims will "break the laws of physics" and has safety issues. He also noted the high levels of insider selling from company management. "The company has no chance to make a commercially successful product," he said. "The CEO pretty much lies all the time." Brown is managing member of hedge fund Aristides Capital. Energous did not immediately respond to a request for comment.

Short-seller Chris Brown says wireless charging company Energous is ‘worthless’

May 15, 2018 / 4:49 PM / in 10 minutes UPDATE 4-Argentina peso closes higher for the first time in seven sessions Reuters Staff (Adds peso closing level, updates Merval stock index level) By Jorge Otaola BUENOS AIRES, May 15 (Reuters) - Argentina’s beleaguered peso snapped a seven-session losing streak on Tuesday, closing 3.73 percent stronger at 24.10 per U.S. dollar after the central bank offered to sell up to $5 billion in the spot market. The currency had lost 6.6 percent to a record low on Monday, having weakened every trading day since May 3. Despite Tuesday’s gain, the peso remained 14.77 percent weaker since the start of the month and 22.61 percent so far this year. The wobbly currency last week drove the government to ask for a “high access stand-by arrangement” from the International Monetary Fund. The deal, which may impose fiscal belt-tightening conditions, is being negotiated in Washington. Traders estimated the central bank’s Tuesday intervention at $800 million. It was expected to announce the official figure later in the day. The bank had already sold billions of dollars of its reserves and hiked interest rates to 40 percent as it sought to contain inflation. The IMF negotiations carry political risks for President Mauricio Macri’s reform agenda. Many Argentines blame IMF-backed policies of the late 1990s for Argentina’s 2001-2002 economic meltdown. Some opposition politicians and activists have voiced concerns that the deal being drawn up in Washington will require painful fiscal belt-tightening. Weak fundamentals, skittishness regarding devaluation and concern over Argentina’s drought-hit soy harvest have helped put the economy, and the peso, under pressure. Gross domestic product is nonetheless expected to expand modestly this year. The peso is one of the world’s hardest-hit currencies as investors leave emerging markets. Macri’s Cabinet Chief Marcos Pena told reporters on Tuesday that Argentina, and not the IMF, would dictate the terms of any agreement. He called on the country to work to lower Argentina’s deficit, particularly in the 2019 budget. “We will have to sit down, all parties, with enormous openness, generosity and responsibility,” to hammer out a spending plan for next year, Pena said. The government earlier this month lowered its fiscal deficit goal in 2018 to 2.7 percent of gross domestic product from 3.2 percent previously, in another bid to calm markets. Argentina reported on Tuesday a primary fiscal deficit of 10.342 billion pesos ($503.5 million) in April, down 44.6 percent from a year earlier. The MerVal stock index rose 1.73 percent. (Reporting by Jorge Otaola, writing by Hugh Bronstein, Dave Sherwood and Caroline Stauffer; editing by Grant McCool and Lisa Shumaker)

UPDATE 2-Argentine central bank intervention leads to rise in peso

May 30 (Reuters) - ANZ Bank New Zealand on Wednesday agreed to sell its New Zealand life insurance business to U.S-listed Cigna Corp for NZ$700 million ($482.4 million). Australia and New Zealand Banking Group’s New Zealand unit said the deal to sell OnePath Life NZ would add about 5 basis points to the parent’s level 1 CET ratio. It added the deal would generate a gain on sale of around NZ$50 million. ($1 = 1.4512 New Zealand dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

ANZ Bank New Zealand sells life insurance business to Cigna Corp

SEOUL, May 17 (Reuters) - South Korea is seeking to mediate to bridge the gap between the United States and North Korea as they appear to have “some kind of difference in stances” ahead of a planned summit, an official at South Korea’s presidential Blue House said on Thursday. The comments come after Pyongyang on Wednesday threatened to pull out of the June 12 summit in Singapore with U.S. President Donald Trump, saying it might not attend if Washington continues to demand it unilaterally abandon its nuclear arsenal. The Blue House official said the South Korean government or President Moon Jae-in intends to more actively perform “the role of a mediator” in various channels between South Korea, the U.S. and North Korea. Trump will host South Korean President Moon Jae-in at a summit at the White House on May 22, and the two are expected to discuss the upcoming summit between Trump and North Korean leader Kim Jong Un. The Blue House intends to “sufficiently convey (to the United States) what we’ve discerned about North Korea’s position and attitude through the summit on the 22nd, and sufficiently convey the United States’ position to North Korea,” thereby helping to bridge the gap between their positions, the official said. “Seeing the announced statements and responses from North Korea and the United States, we see the two parties as having a sincere and serious attitude (to stand in each other’s shoes),” the official said. South Korea intends to continue discussions with North Korea to hold high-level talks North Korea cancelled on Wednesday, Blue House said in a statement on Thursday. North Korea called off the talks, blaming U.S.-South Korean military exercises. Meanwhile, Chinese government’s top diplomat, Wang Yi, said on Thursday the measures North Korea has taken to ease tension on the Korean peninsula should be acknowledged, and all other parties, especially the United States, should cherish the opportunity for peace. (Reporting by Joyce Lee; Additional reporting by Michael Martina in BEIJING; Editing by Michael Perry)

S.Korea to play mediator to resolve N.Korea-U.S. summit doubts - official

Taxes US Senate, House panels OK bills to tighten foreign investment oversight Committees in the U.S. Senate and the House of Representatives voted on Tuesday to approve bills aimed at tightening oversight of foreign investment. The bills were aimed at slowing China's acquisition of sensitive U.S. technology. Published 5 Hours Ago Updated 3 Hours Ago Reuters Committees in the U.S. Senate and the House of Representatives voted on Tuesday to approve bills aimed at tightening oversight of foreign investment to slow China's acquisition of sensitive U.S. technology. The Senate Banking Committee and the House Financial Services Committee approved laws that would strengthen the Committee on Foreign Investment in the United States (CFIUS), which reviews potential foreign investment to ensure it does not compromise national security. The two chambers began the process in November with identical bills to expand the clout of the inter-agency body. Congress is considering the bills to address Defense Department concerns that U.S. soldiers could someday face on a battlefield U.S. technology like robotics or drones that was acquired by foreign adversaries. The Senate committee approved removing from the bill a section that would require CFIUS to review joint ventures that could lead to technology transfer, a process that would delay transactions. The approved bill also defines passive investments, which CFIUS normally considers approvable. The House Financial Services Committee unanimously passed its version later on Tuesday, according to a statement by its sponsor, Republican Representative Robert Pittenger . Getty Images Sen. John Cornyn (R-Texas) walks out of the senate on Capitol Hill. He believes the Trump administration's claim that cheap imports threaten U.S. national security could lead trade partners to use the same argument to tax U.S. exports. Senator John Cornyn , the No. 2 Republican in the Senate and lead sponsor of the legislation, told reporters it would be "ideal" to attach CFIUS to the defense authorization bill or some other "must-pass" legislation. "What we need to do is elevate everybody's understanding of what China's strategic long-term goals are, and they are to dominate the United States economically and militarily," said Cornyn. "They've got a very clear strategy for doing that, and we need to wake up to that and make sure we're responding in kind." The Senate Banking Committee voted to tack onto the bill a measure that would make it more difficult for the president to modify penalties on Chinese telecommunications companies such as ZTE Corp. U.S. lawmakers have expressed concern that President Donald Trump would ease tough penalties on ZTE, saying the United States should not bow to pressure from Beijing to help the smartphone maker.

US Senate, House panels OK bills to tighten foreign investment oversight

Lebanon has to improve its economy in multiple ways, says IMF director 1 Hour Ago Jihad Azour, director of Middle East and Central Asia Department at the IMF, offers advice to Lebanon to improve its economic stability.

Lebanon has to improve its economy in multiple ways, says IMF director

Sandra Gillespie Appointed as Chief Operating Officer RESTON, Va.--(BUSINESS WIRE)-- NCI, Inc., a leading provider of advanced information technology solutions and professional services to U.S. Federal Government agencies, today announced the promotion of Sandra Gillespie to chief operating officer (COO). In this key role, Gillespie will assume oversight of all operational programs for the company with an immediate focus on aligning the organization by capability and customer set. Gillespie previously served as NCI’s senior vice president and general manager of the company’s Agile and Analytics Sector. Her promotion is part of an organizational restructuring designed to create operational efficiencies and execute on the company’s strategy of driving collaboration and innovation across the enterprise. “Sandy’s leadership and technical background, coupled with her savvy business acumen, will enable her to lead NCI to new levels,” said NCI President and CEO Paul A. Dillahay. “She is a proven and effective executive. With Sandy’s experience, insight and strategic perspective, she will strengthen and transform the organization in ways that will benefit our customers, partners and employees.” Gillespie brings more than 30 years of executive information technology experience to her role. Her expertise includes information technology, mission system integration, logistics, infrastructure and professional services. Prior to joining NCI, Gillespie served as senior vice president of health and compliance programs for CGI Federal. She also served in executive roles at Federal Capgemini Government Solutions, GTSI, Raytheon, Lockheed Martin and DynCorp. “I am confident in and deeply committed to leading NCI forward,” Gillespie said. “Having spent my career in this industry, I am excited by the opportunities that lie ahead for NCI, particularly in growth markets such as artificial intelligence, agile software development and advanced data analytics. I look forward to positioning NCI with competitive, innovative differentiators for new and existing business opportunities.” Gillespie holds a bachelor’s in computer science and accounting, and a master’s in business administration from Jacksonville State University. She also attended executive leadership training from Harvard University and the Wharton School of the University of Pennsylvania. About NCI, Inc. NCI is a leading provider of enterprise solutions and services to U.S. defense, intelligence, health and civilian government agencies. The company has the expertise and proven track record to solve its customers' most important and complex mission challenges through technology and innovation. With core competencies in delivering cost-effective solutions and services in areas such as agile digital transformation; advanced analytics; hyperconverged infrastructure; cybersecurity and information assurance; fraud, waste and abuse detection; and engineering and logistics, NCI's team of highly skilled professionals are expanding their portfolio to include generation-changing technology offerings such as artificial intelligence for their government customers. Coupled with a refined focus on strategic partnerships, NCI is committed to bringing commercial innovation to missions of national importance. Headquartered in Reston, Virginia, NCI has approximately 2,000 employees operating at locations across the globe. For more information, visit www.nciinc.com or email contactnci@nciinc.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20180515005582/en/ NCI, Inc. Amanda Hall Director of Communications 703-707-6677 Source: NCI, Inc.

NCI Announces Key Executive Promotion

May 8, 2018 / 4:40 PM / Updated 15 minutes ago Millennium bcp likely to resume dividend payouts after 2018 Reuters Staff 2 Min Read LISBON, May 8 (Reuters) - Millennium bcp is likely to resume dividend payouts from next year based on its 2018 results, its chief financial officer said on Tuesday, a day after Portugal’s largest listed lender posted a 71 percent rise in first quarter profit. BCP stopped paying dividends in 2011 at the height of the country’s economic and debt crisis. Portugal has since returned to economic growth and cut its budget deficit to below the -European Union threshold. “As we approach a level of 12 percent of CET1 (solvency ratio) with a low single digit growth in terms of risk weighted assets, we are generating organic capital and what makes sense is to distribute this capital to shareholders,” Miguel Braganca said on a call with analysts. Shares in the bank closed 4.9 percent higher on Tuesday boosted by the strong results, including the CET1 ratio of 11.8 percent, which is up from 11.1 percent a year ago. “By the end of this year we should be in a position to start to distribute (a) dividend,” he said, adding that the decision also depends on other opportunities and what solvency ratio levels can be considered as adequate. “I think a bank such (as) ours should have a ratio of CET1 between 11 pct and 12 pct and the remaining capital should be distributed to shareholders,” Braganca said. (Reporting by Sergio Goncalves, writing by Andrei Khalip, editing by Alexander Smith)

Millennium bcp likely to resume dividend payouts after 2018

Closing Bill Exchange: Never bet against Warren Buffett 2 Hours Ago Brian Milligan, Ave Maria Growth Fund; Steve Grasso, Stuart Frankel; and CNBC's Rick Santelli discuss today's markets.

Closing Bill Exchange: Never bet against Warren Buffett

Markets already know the Federal Reserve will deliver more rate hikes this year. They're just not prepared for how much it will hurt, according to Peter Boockvar , chief investment officer of Bleakley Advisory Group. "The Fed is trying to ease the effect of their rate hike cycle by being very transparent," Boockvar told CNBC's " Futures Now " this week. It is "trying to convince us that quantitative tightening is like watching paint dry." Fed chair Jerome Powell is carrying on Janet Yellen 's legacy of full transparency by prepping the markets as best as he can for inevitable monetary tightening. The Fed's message of 'steady-as-she-goes' rate increases has calmed Wall Street into thinking this will mostly be a smooth path higher. Boockvar expects tighter monetary policy will have a far greater impact than the Fed is telegraphing, and the market is anticipating. "Regardless of how they tell us, regardless of how they do it, there's still a rise in the cost of capital, there's still a drain of liquidity," he said. He used a colorful analogy for the shock the markets will be dealt, even with the Fed's fair warning. "If I gave you a month's notice that I'm going to punch you in the face, when I punch you in the face, it's still going to feel the same, it's still going to hurt," he said. Vote Vote to see results Total Votes: Not a Scientific Survey. Results may not total 100% due to rounding. 'Not a believer' Even worse, it's more like two blows: While the Fed hikes interest rates, it's also shrinking its balance sheet, Boockvar points out. "The biggest risk to the market is that they're really tightening twice through the reduction of the size of their balance sheet," said Boockvar. The Fed is currently unwinding its $4 trillion-plus balance sheet at an ever-increasing pace. The central bank's purchases of mortgage-back securities spiked in late 2008, marking the beginning of the first round of quantitative easing under then-Fed chair Ben Bernanke . "At the same time, they'll likely raise two more times this year, so the rise in interest rates to me is very noteworthy," said Boockvar. "In a very over-levered, credit-dependent economy, that is my main concern because it's very rare that the Fed engineers soft landings, and I'm not a believer that they're going to do it again this time." Of the last 13 rate hike cycles, 10 have resulted in a recession, says Boockvar. Markets are taking another 25 basis-point hike from the Fed at its June meeting as a near certainty, based on CME Group fed funds futures. The Fed last tweaked rates at its March meeting. The rest of the year is less clear. A third rate hike for 2018 could come in September, but the chances of a fourth in December are at less than 41 percent. Boockvar asked: "The question is when does the rise in interest rates begin to have an effect on the economy? As I said, we are very credit-addicted, credit-dependent economy that will be affected by a continued rise in interest rates if this trend persists." The personal savings rate increased 3.1 percent in the first quarter, nearly half the rate of the first quarter three years ago, according to the U.S. Bureau of Economic Analysis. Meanwhile, the Fed reported a preliminary growth rate of 4.2 percent in outstanding consumer credit in the first quarter. The U.S. economy rose by 2.3 percent in the first quarter, higher than estimates but weaker than 2.9 percent growth in the fourth quarter. show chapters Futures Now: We could retest February lows as the Fed sticks to its rate hike plans, says Peter Boockvar 1:40 PM ET Thu, 10 May 2018 | 09:43

Fed is about to deliver a ‘punch in the face,' Peter Boockvar says

May 28, 2018 / 12:38 PM / Updated an hour ago Brazil to implement variable tax on diesel imports -minister Reuters Staff 1 Min Read SAO PAULO, May 28 (Reuters) - Brazil will implement a variable tax on diesel imports to stabilize local diesel prices whenever global prices fall below the local benchmark, Finance Minister Eduardo Guardia said on Monday. The measure is one in a string of concessions to truckers protesting high fuel prices. In an interview with local television station GloboNews, Guardia said the government will also extend subsidies to diesel importers. (Reporting by Tatiana Bautzer; Writing by Bruno Federowski Editing by James Dalgleish)

Brazil to implement variable tax on diesel imports -minister

ALLENTOWN, Pa., PPL Corporation (NYSE: PPL) on Thursday (5/3) announced first-quarter 2018 reported earnings (GAAP) of $452 million or $0.65 per share, an increase from first-quarter 2017 reported earnings of $403 million, or $0.59 per share. Adjusting for special items, first-quarter 2018 earnings from ongoing operations (non-GAAP) were $517 million, or $0.74 per share, a per-share increase of 19 percent from $425 million, or $0.62 per share, a year ago. The increase in ongoing earnings was primarily driven by higher earnings at PPL's U.S. segments, partially offset by lower earnings at its U.K. segment. "Based on our first-quarter results, we are on track to deliver on our 2018 earnings forecast," said William H. Spence, PPL's chairman, president and Chief Executive Officer. "Our customers and shareowners continue to realize the benefits of our infrastructure investments and our constructive regulatory jurisdictions." With the effect of special items recorded through the first quarter, the company's forecast range for 2018 reported earnings is $2.11 to $2.31 per share. PPL's forecast range for earnings from ongoing operations, reaffirmed today, is $2.20 to $2.40 per share, with a midpoint of $2.30 per share. In addition, PPL reaffirmed its expectation of 5 to 6 percent compound annual earnings growth per share from 2018 through 2020 off of the 2018 forecast midpoint as the company pursues its strategy for long-term growth and success. That strategy is focused on delivering best-in-sector operational performance, investing responsibly in a sustainable energy future, maintaining a strong financial foundation and engaging and developing its people. Spence noted that PPL continues to assess and revise its expectations for the impact of tax reform. As a result of these revisions, the company is now targeting the lower end of its previously stated equity financing needs of $2 billion to $3 billion through 2020. In addition to announcing first-quarter earnings, Spence said the company supports U.K. regulator Ofgem's decision to forgo any mid-period review during the RIIO-ED1 price-control period. We believe Ofgem, through its consultation process, arrived at the best outcome for all stakeholders," Spence said. "We believe this is an important signal of support for the regulation that has made the U.K. a premier jurisdiction in which to operate. We look forward to continuing to deliver positive outcomes for customers and fair returns for our shareowners moving forward." First-Quarter 2018 Earnings Details PPL's reported earnings for the first quarter of 2018 included net special-item after-tax charges of $65 million, or $0.09 per share, from foreign currency economic hedges. Reported earnings for the first quarter of 2017 included net special-item after-tax charges of $22 million, or $0.03 per share, primarily from foreign currency economic hedges. As discussed in this news release, reported earnings are calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). "Earnings from ongoing operations" is a non-GAAP financial measure that is adjusted for special items. See the tables at the end of this news release for a reconciliation of reported earnings to earnings from ongoing operations, including an itemization of special items. (Dollars in millions, except for per-share amounts) 1st Quarter 2018 2017 % Change Reported earnings $ 452 $ 403 12 % Reported earnings per share $ 0.65 $ 0.59 10 % 1st Quarter 2018 2017 % Change Earnings from ongoing operations $ 517 $ 425 22 % Earnings from ongoing operations per share $ 0.74 $ 0.62 19 % First-Quarter 2018 Earnings by Segment 1st Quarter Per share 2018 2017 Reported earnings U.K. Regulated $ 0.28 $ 0.42 Kentucky Regulated 0.19 0.14 Pennsylvania Regulated 0.21 0.12 Corporate and Other (0.03) (0.09) Total $ 0.65 $ 0.59 1st Quarter 2018 2017 Special items (expense) benefit U.K. Regulated $ (0.09) $ (0.03) Kentucky Regulated — — Pennsylvania Regulated — — Corporate and Other — — Total $ (0.09) $ (0.03) 1st Quarter 2018 2017 Earnings from ongoing operations U.K. Regulated $ 0.37 $ 0.45 Kentucky Regulated 0.19 0.14 Pennsylvania Regulated 0.21 0.12 Corporate and Other (0.03) (0.09) Total $ 0.74 $ 0.62 Key Factors Impacting Earnings U.K. Regulated Segment PPL's U.K. Regulated segment primarily consists of the regulated electricity delivery operations of Western Power Distribution (WPD) plc, which serves Southwest and Central England and South Wales. Reported earnings in the first quarter of 2018 decreased by $0.14 per share compared to a year ago. Earnings from ongoing operations in the first quarter of 2018 decreased by $0.08 per share. Excluding special items, factors driving earnings results included higher income taxes primarily due to a 2017 U.S. tax benefit from accelerated pension contributions that did not recur in 2018; lower prices from an April 1, 2017 price decrease, driven by true-up mechanisms partially offset by higher base demand revenue; lower volumes and the effect of share dilution. These factors were partially offset by higher pension income and higher foreign currency exchange rates. Kentucky Regulated Segment PPL's Kentucky Regulated segment primarily consists of the regulated electricity and natural gas operations of Louisville Gas and Electric Company and the regulated electricity operations of Kentucky Utilities Company. Reported earnings and earnings from ongoing operations in the first quarter of 2018 both increased by $0.05 per share compared to a year ago, driven primarily by higher base electricity and gas rates effective July 1, 2017, and higher sales volumes due to favorable weather. Pennsylvania Regulated Segment PPL's Pennsylvania Regulated segment consists of the regulated electricity delivery operations of PPL Electric Utilities. Reported earnings and earnings from ongoing operations in the first quarter of 2018 both increased by $0.09 compared to a year ago, driven primarily by higher revenues and lower operation and maintenance expense. The higher revenues were driven by returns on additional capital investments in transmission and higher sales volumes in distribution due to favorable weather. Corporate and Other PPL's Corporate and Other category primarily includes unallocated corporate-level financing and other costs. The loss in first-quarter reported earnings and earnings from ongoing operations decreased by $0.06 per share compared to a year ago, driven primarily by the timing impact of recording annual estimated taxes in 2017. 2018 Earnings Forecast Reported Earnings Earnings from Ongoing Operations 2018 forecast midpoint 2017 actual 2018 forecast midpoint 2017 actual Per share U.K. Regulated $ 1.23 $ 0.95 $ 1.32 $ 1.28 Kentucky Regulated 0.52 0.42 0.52 0.57 Pennsylvania Regulated 0.57 0.52 0.57 0.51 Corporate and Other (0.11) (0.25) (0.11) (0.11) Total $ 2.21 $ 1.64 $ 2.30 $ 2.25 (See the tables at the end of this news release for a reconciliation of reported earnings to earnings from ongoing operations.) U.K. Regulated Segment PPL projects higher segment earnings in 2018 compared with 2017. The increase in reported earnings reflects the 2017 unfavorable impact of U.S. tax reform and unrealized losses on foreign currency economic hedges. Excluding these 2017 special items, the increase is expected to be driven primarily by higher foreign currency exchange rates and higher pension income, partially offset by higher taxes and the effect of share dilution. The remaining 2018 foreign currency exposure for this segment is 100 percent hedged at an average rate of $1.32 per pound. Kentucky Regulated Segment PPL projects higher reported segment earnings in 2018 compared with 2017, which reflects the 2017 unfavorable impact of U.S. tax reform. Excluding this 2017 special item, earnings in 2018 compared with 2017 are projected to be lower, driven primarily by higher operation and maintenance expense, higher depreciation expense, higher interest expense, a lower tax shield on holding company interest and expenses, and the effect of share dilution, partially offset by an assumed return to normal weather and higher base electricity and gas rates effective July 1, 2017. Pennsylvania Regulated Segment PPL projects higher segment earnings in 2018 compared to 2017, driven primarily by higher transmission earnings and lower operation and maintenance expense, partially offset by higher depreciation expense, higher interest expense and the effect of share dilution. Corporate and Other PPL projects lower reported costs in 2018 compared with 2017, which reflects the 2017 unfavorable impact of U.S. tax reform. Excluding this 2017 special item, PPL projects costs to be flat in this category in 2018 compared to 2017 with a lower tax shield on holding company interest expense offset by lower financing costs. Headquartered in Allentown, Pa., PPL Corporation (NYSE: PPL) is one of the largest companies in the U.S. utility sector. PPL's seven high-performing, award-winning utilities serve 10 million customers in the U.S. and United Kingdom. With more than 12,000 employees, the company is dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit www.pplweb.com . (Note: All references to earnings per share in the text and tables of this news release are stated in terms of diluted earnings per share unless otherwise noted.) Conference Call and Webcast PPL invites interested parties to listen to a live Internet webcast of management's teleconference with financial analysts about first-quarter 2018 financial results at 10 a.m. Eastern time on Thursday, May 3. The call will be webcast live, in audio format, together with slides of the presentation. For those who are unable to listen to the live webcast, a replay with slides will be accessible at www.pplweb.com/investors for 90 days after the call. Interested individuals can access the live conference call via telephone at 1-888-346-8683. International participants should call 1-412-902-4270. Participants will need to enter the following "Elite Entry" number in order to join the conference: 5034820. Callers can access the webcast link at www.pplweb.com/investors under "Events." Management utilizes "Earnings from Ongoing Operations" as a non-GAAP financial measure that should not be considered as an alternative to reported earnings, or net income, an indicator of operating performance determined in accordance with GAAP. PPL believes that Earnings from Ongoing Operations is useful and meaningful to investors because it provides management's view of PPL's earnings performance as another criterion in making investment decisions. In addition, PPL's management uses Earnings from Ongoing Operations in measuring achievement of certain corporate performance goals, including targets for certain executive incentive compensation. Other companies may use different measures to present financial performance. Earnings from Ongoing Operations is adjusted for the impact of special items. Special items are presented in the financial tables on an after-tax basis with the related income taxes on special items separately disclosed. Income taxes on special items, when applicable, are calculated based on the effective tax rate of the entity where the activity is recorded. Special items include: Unrealized gains or losses on foreign currency economic hedges (as discussed below). Gains and losses on sales of assets not in the ordinary course of business. Impairment charges. Significant workforce reduction and other restructuring effects. Acquisition and divestiture-related adjustments. Other charges or credits that are, in management's view, non-recurring or otherwise not reflective of the company's ongoing operations. Unrealized gains or losses on foreign currency economic hedges include the changes in fair value of foreign currency contracts used to hedge British-pound-sterling-denominated anticipated earnings. The changes in fair value of these contracts are recognized immediately within GAAP earnings. Management believes that excluding these amounts from Earnings from Ongoing Operations until settlement of the contracts provides a better matching of the financial impacts of those contracts with the economic value of PPL's underlying hedged earnings. Statements contained in this news release, including statements with respect to future earnings, cash flows, dividends, financing, regulation and corporate strategy, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: market demand for energy in our U.S. service territories; weather conditions affecting customer energy usage and operating costs; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corporation and its subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of our facilities; the length of scheduled and unscheduled outages at our generating plants; environmental conditions and requirements and the related costs of compliance; system conditions and operating costs; development of new projects, markets and technologies; performance of new ventures; asset or business acquisitions and dispositions; any impact of severe weather on our business; receipt of necessary government permits, approvals, rate relief and regulatory cost recovery; capital market conditions and decisions regarding capital structure; the impact of state, federal or foreign investigations applicable to PPL Corporation and its subsidiaries; the outcome of litigation against PPL Corporation and its subsidiaries; stock price performance; the market prices of equity securities and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and credit ratings of PPL Corporation and its subsidiaries; political, regulatory or economic conditions in states, regions or countries where PPL Corporation or its subsidiaries conduct business, including any potential effects of threatened or actual cyberattack, terrorism, or war or other hostilities; British pound sterling to U.S. dollar exchange rates; new state, federal or foreign legislation, including new tax legislation; and the commitments and liabilities of PPL Corporation and its subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in conjunction with factors and other matters discussed in PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission. Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation. PPL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED FINANCIAL INFORMATION (1) Condensed Consolidated Balance Sheets (Unaudited) (Millions of Dollars) March 31, December 31, 2018 2017 Assets Cash and cash equivalents $ 629 $ 485 Accounts receivable 849 781 Unbilled revenues 489 543 Fuel, materials and supplies 279 320 Current price risk management assets 56 49 Other current assets 188 116 Property, Plant and Equipment Regulated utility plant 38,891 38,228 Less: Accumulated depreciation - regulated utility plant 7,003 6,785 Regulated utility plant, net 31,888 31,443 Non-regulated property, plant and equipment 387 384 Less: Accumulated depreciation - non-regulated property, plant and equipment 114 110 Non-regulated property, plant and equipment, net 273 274 Construction work in progress 1,575 1,375 Property, Plant and Equipment, net 33,736 33,092 Noncurrent regulatory assets 1,519 1,504 Goodwill and other intangibles 4,005 3,955 Pension benefit asset 378 284 Noncurrent price risk management assets 120 215 Other noncurrent assets 140 135 Total Assets $ 42,388 $ 41,479 Liabilities and Equity Short-term debt $ 1,457 $ 1,080 Long-term debt due within one year 250 348 Accounts payable 836 924 Other current liabilities 1,695 1,671 Long-term debt 20,214 19,847 Deferred income taxes and investment tax credits 2,685 2,591 Accrued pension obligations 653 800 Asset retirement obligations 292 312 Noncurrent regulatory liabilities 2,689 2,704 Other noncurrent liabilities 441 441 Common stock and additional paid-in capital 10,418 10,312 Earnings reinvested 4,037 3,871 Accumulated other comprehensive loss (3,279) (3,422) Total Liabilities and Equity $ 42,388 $ 41,479 (1) The Financial Statements in this news release have been condensed and summarized for purposes of this presentation. Please refer to PPL Corporation's periodic filings with the Securities and Exchange Commission for full financial statements, including note disclosure. PPL CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Income (Unaudited) (Millions of Dollars, except share data) Three Months Ended March 31, 2018 2017 Operating Revenues $ 2,126 $ 1,951 Operating Expenses Operation Fuel 214 191 Energy purchases 241 215 Other operation and maintenance 468 470 Depreciation 269 242 Taxes, other than income 83 75 Total Operating Expenses 1,275 1,193 Operating Income 851 758 Other Income (Expense) - net (43) (9) Interest Expense 239 217 Income Before Income Taxes 569 532 Income Taxes 117 129 Net Income $ 452 $ 403 Earnings Per Share of Common Stock: Net Income Available to PPL Common Shareowners: Basic $ 0.65 $ 0.59 Diluted $ 0.65 $ 0.59 Weighted-Average Shares of Common Stock Outstanding (in thousands) Basic 694,514 680,882 Diluted 695,322 683,084 PPL CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited) (Millions of Dollars) Three Months Ended March 31, 2018 2017 Cash Flows from Operating Activities Net income $ 452 $ 403 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 269 242 Amortization 21 23 Defined benefit plans - (income) (50) (19) Deferred income taxes and investment tax credits 59 161 Unrealized losses on derivatives, and other hedging activities 85 35 Other 12 18 Change in current assets and current liabilities Accounts receivable (71) (43) Accounts payable (36) (84) Prepayments (73) (110) Taxes payable 22 (21) Unbilled revenues 58 52 Other 10 (11) Other operating activities Defined benefit plans - funding (150) (520) Other (42) 9 Net cash provided by operating activities 566 135 Cash Flows from Investing Activities Expenditures for property, plant and equipment (750) (677) Expenditures for intangible assets (7) (3) Other investing activities 4 1 Net cash used in investing activities (753) (679) Cash Flows from Financing Activities Issuance of long-term debt 144 64 Issuance of common stock 100 73 Payment of common stock dividends (273) (258) Net increase in short-term debt 369 744 Other financing activities (9) (16) Net cash provided by financing activities 331 607 Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash (2) 3 Net Increase in Cash, Cash Equivalents and Restricted Cash 142 66 Cash, Cash Equivalents and Restricted Cash at Beginning of Period 511 367 Cash, Cash Equivalents and Restricted Cash at End of Period $ 653 $ 433 Supplemental Disclosures of Cash Flow Information Significant non-cash transactions: Accrued expenditures for property, plant and equipment at March 31, $ 313 $ 236 Accrued expenditures for intangible assets at March 31, $ 65 $ 62 Key Indicators (Unaudited) 3 Months Ended March 31 Financial 2018 2017 Dividends declared per share of common stock $ 1.595 $ 1.535 Book value per share (1)(2) $ 16.03 $ 14.81 Market price per share (1) $ 28.29 $ 37.39 Dividend yield 5.6 % 4.1 % Dividend payout ratio (3) 93.8 % 57.5 % Dividend payout ratio - earnings from ongoing operations (3)(4) 67.0 % 64.0 % Return on common equity 11.1 % 18.4 % Return on common equity - earnings from ongoing operations (4) 15.5 % 16.5 % Spot rate of U.S. dollar per British pound sterling for Balance Sheet translation (5) $ 1.38 $ 1.24 Average rate of U.S. dollar per British pound sterling for Statement of Income translation (6) $ 1.26 $ 1.22 (1) End of period. (2) Based on 697,383 and 682,427 shares of common stock outstanding (in thousands) at March 31, 2018 and March 31, 2017. (3) Based on diluted earnings per share. (4) Calculated using earnings from ongoing operations, which is a non-GAAP financial measure that includes adjustments described in the text and tables of this news release. (5) As of February 28, 2018 and 2017, as WPD is consolidated on a one-month lag. (6) Represents a year-to-date average and includes the impact of foreign exchange hedges. Operating - Domestic & International Electricity Sales (Unaudited) 3 Months Ended March 31, Percent (GWh) 2018 2017 Change Domestic Retail Delivered PPL Electric Utilities 10,040 9,546 5.2 % LKE 7,808 7,235 7.9 % Total 17,848 16,781 6.4 % International Delivered United Kingdom 20,310 20,658 (1.7) % Domestic Wholesale LKE (1) 706 566 24.7 % (1) Represents FERC-regulated municipal and unregulated off-system sales. Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations (After-Tax) (Unaudited) Year-to-Date March 31, 2018 (millions of dollars) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 197 $ 133 $ 148 $ (26) $ 452 Less: Special Items (expense) benefit: Foreign currency economic hedges, net of tax of $17 (65) — — — (65) Total Special Items (65) — — — (65) Earnings from Ongoing Operations $ 262 $ 133 $ 148 $ (26) $ 517 (per share - diluted) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 0.28 $ 0.19 $ 0.21 $ (0.03) $ 0.65 Less: Special Items (expense) benefit: Foreign currency economic hedges (0.09) — — — (0.09) Total Special Items (0.09) — — — (0.09) Earnings from Ongoing Operations $ 0.37 $ 0.19 $ 0.21 $ (0.03) $ 0.74 Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations (After-Tax) (Unaudited) Year-to-Date March 31, 2017 (millions of dollars) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 286 $ 95 $ 79 $ (57) $ 403 Less: Special Items (expense) benefit: — Foreign currency economic hedges, net of tax of $12 (21) — — — (21) Adjustment to investment, net of tax of $0 — (1) — — (1) Total Special Items (21) (1) — — (22) Earnings from Ongoing Operations $ 307 $ 96 $ 79 $ (57) $ 425 (per share - diluted) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 0.42 $ 0.14 $ 0.12 $ (0.09) $ 0.59 Less: Special Items (expense) benefit: Foreign currency economic hedges (0.03) — — — (0.03) Total Special Items (0.03) — — — (0.03) Earnings from Ongoing Operations $ 0.45 $ 0.14 $ 0.12 $ (0.09) $ 0.62 Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations (After-Tax) (Unaudited) Year-to-Date December 31, 2017 (millions of dollars) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 652 $ 286 $ 359 $ (169) $ 1,128 Less: Special Items (expense) benefit: Foreign currency economic hedges, net of tax of $59 (111) — — — (111) Spinoff of the Supply segment, net of tax of ($1) — — — 4 4 Other: U.S. tax reform (122) (112) 10 (97) (321) Settlement of indemnification agreement, net of tax of ($2) — 4 — — 4 Adjustment to investment, net of tax of $0 — (1) — — (1) Total Special Items (233) (109) 10 (93) (425) Earnings from Ongoing Operations $ 885 $ 395 $ 349 $ (76) $ 1,553 (per share - diluted) U.K. KY PA Corp. Reg. Reg. Reg. & Other Total Reported Earnings $ 0.95 $ 0.42 $ 0.52 $ (0.25) $ 1.64 Less: Special Items (expense) benefit: Foreign currency economic hedges (0.15) — — — (0.15) Other: U.S. tax reform (0.18) (0.16) 0.01 (0.14) (0.47) Settlement of indemnification agreement — 0.01 — — 0.01 Total Special Items (0.33) (0.15) 0.01 (0.14) (0.61) Earnings from Ongoing Operations $ 1.28 $ 0.57 $ 0.51 $ (0.11) $ 2.25 Reconciliation of PPL's Forecast of Reported Earnings to Earnings from Ongoing Operations (After-Tax) (Unaudited) Forecast (per-share - diluted) 2018 Midpoint U.K. KY PA Corp. High Low Reg. Reg. Reg. & Other Total 2018 2018 Reported Earnings $ 1.23 $ 0.52 $ 0.57 $ (0.11) $ 2.21 $ 2.31 $ 2.11 Less: Special Items (expense) benefit: Foreign currency economic hedges (0.09) (0.09) (0.09) (0.09) Total Special Items (0.09) — — — (0.09) (0.09) (0.09) Earnings from Ongoing Operations $ 1.32 $ 0.52 $ 0.57 $ (0.11) $ 2.30 $ 2.40 $ 2.20 Contacts: For news media – Ryan Hill, 610-774-5997 For financial analysts – Andy Ludwig, 610-774-3389 View original content: http://www.prnewswire.com/news-releases/ppl-corporation-reports-first-quarter-earnings-300641977.html SOURCE PPL Corporation

PPL Corporation Reports First-Quarter Earnings

May 25, 2018 / 2:16 AM / Updated 18 hours ago Deja vu for French Open as Nadal favorite again 3 Min Read PARIS (Reuters) - “Jeu, set et match Rafa Nadal.” FILE PHOTO: Tennis - ATP World Tour Masters 1000 - Italian Open - Foro Italico, Rome, Italy - May 20, 2018 Spain's Rafael Nadal celebrates winning the final against Germany's Alexander Zverev REUTERS/Tony Gentile The words are likely to be heard seven times at the French Open as the Spanish juggernaut guns for a record-extending 11th title at Roland Garros. Nadal, who has a 79-2 win-loss record on the Parisian clay, enters his title defense after a stellar season on his favorite surface. He won at Monte Carlo and Barcelona, claimed a record 50 consecutive sets, then bounced back from defeat in Madrid to take the title in Rome. His last defeat at Roland Garros came in 2015 when he lost to Novak Djokovic in the quarter-finals. While upset by Dominic Thiem in Madrid earlier this month, he will be harder to beat in the best-of-five sets. “Nadal is always the favorite, then I come behind with four or five other players,” said Thiem, who ended Nadal’s 50-set winning streak. The 24-year-old Austrian is the only player to beat Nadal on clay in the last two years but he was thrashed in straight sets by the Spaniard in last year’s French Open semi-finals. Still, Henri Leconte, the 1988 runner-up, feels Nadal could be vulnerable. “For the moment Dominic Thiem beat him in Madrid but still Rafa is the number one,” he told Reuters. “But there’s still an opportunity for someone to beat him at the French. It’s difficult because it’s five sets. I don’t know why but there could be an opportunity. He is the best player of all time on clay.” If Thiem cannot deliver, the 21-year-old Alexander Zverev might be the man in the absence of Roger Federer, who is skipping the claycourt season. “(Zverev) is way more mature now in the last two or three months, even since Australia,” three-times French Open champion Mats Wilander told Reuters. “He is more certain of how he needs to play.” Zverev lost to Nadal in the Rome final but showed the full potential of his game when he took the second set 6-1 before fading away. “Nadal doesn’t really have a weakness,” added Wilander. “The only thing is that the next generation, the 19-23 year-olds, they don’t have the fear factor against him like the likes of Nishikori, Dimitrov, Raonic have. “They have less baggage. Zverev, his game-plan against Nadal is pretty clear. “He has the kind of game-plan that Soderling and Djokovic had when they beat Rafa at the French, which is, don’t stay away from his forehand but hit hard on his forehand to open up the backhand side.” Although ranked outside the top 20, the 2016 champion Djokovic will also be closely watched, having shown signs that he is emerging from the toughest spell of his career. The 12-times grand slam champion was beaten 7-6(4) 6-3 by Nadal at the Rome semi-finals but produced a level of tennis that should leave potential opponents in the draw nervous. Reporting by Julien Pretot; Editing by Ian Ransom

Deja vu for French Open as Nadal favorite again

SYDNEY (Reuters) - Australia’s Westpac Banking Corp ( WBC.AX ) was cleared by a court of accusations it rigged a key rate to boost profit, but the win on Thursday against a regulator was dampened by an additional finding of unconscionable conduct by the bank. FILE PHOTO: Pedestrians hold umbrellas as they walk past a branch of the Westpac Banking Corp in central Sydney, Australia, March 30, 2017. REUTERS/David Gray/File Photo The mostly favorable ruling for the No. 2 Australian lender was a rare bright spot for an industry facing daily allegations of malfeasance and fraud in a year-long public inquiry that has wiped billions of dollars from companies’ market values. It also puts pressure on the Australian Securities and Investments Commission (ASIC), which brought the case against Westpac, to step up its policing. The regulator has faced criticism in the same inquiry for failing to rein in the country’s biggest financial industry participants. In a series of civil lawsuits, ASIC accused the country’s “big four” banks of rigging the Bank Bill Swap Rate (BBSW) - a benchmark interest rate in Australia used to price trillions of dollars of assets - to inflate profit. Westpac, which was accused of rate rigging from 2010 to 2012, was the only bank to defend the action after the other three - Commonwealth Bank of Australia ( CBA.AX ), National Australia Bank ( NAB.AX ) and Australia and New Zealand Banking Group ( ANZ.AX ) - settled before hearings began. “In summary, I have rejected ASIC’s case,” Federal Court judge David Beach said. However, he noted that while Westpac did not break the law its actions amounted to “unconscionable conduct and misleading or deceptive conduct”. The bank also contravened its financial services obligations through “inadequate procedures and training”, the judge added. “This is a very significant and positive outcome for the integrity of Australia’s financial markets,” an ASIC spokesman said. EXPLETIVE-RIDDEN EXCHANGES ASIC had argued that communications within the bank and with outside traders that included expletive-ridden exchanges captured in email records and telephone recordings showed them boasting about how much money they had made from BBSW fixes. But those messages were “open to competing interpretations, particularly when understood in context”, the judge said. “Westpac is committed to working with regulators in a constructive manner including when we have a genuine difference of opinion,” the bank said in a statement. Its shares were down 0.4 percent after the verdict, in line with the broader market , but are down 10 percent since the so-called Royal Commission began in February. “This looks to be a win in that there wasn’t much actual impact from their actions but a moral loss in that they did do the wrong thing,” said a fund manager referring to Westpac. The investor, who owns Westpac shares, asked not to be identified because of rules in Australia that restrict commentary on court matters. Spokespeople for CBA, NAB and ANZ declined to comment. Australia’s neighbor New Zealand is also scrutinizing its financial industry, which has a significant presence of big Australian banks and its top wealth manager AMP ( AMP.AX ). Thomas Clarke, a professor at University of Technology, Sydney’s business school, said Thursday’s court verdict was unlikely to ease the public pressure on banks and ASIC. “It’s a small win for Westpac and a small win for ASIC in amongst a catastrophic series of revelations for the big four banks and AMP, from which they will not recover very readily,” Clarke said. AMP has lost its CEO, chairman and several board members over the inquiry. “The focus is also on ASIC for seeming to treat the big banks with a velvet glove,” added Clarke. Reporting by Byron Kaye and Paulina Duran; Editing by Muralikumar Anantharaman

Australia's Westpac cleared of rate rigging but bank inquiry sword stays

May 11 (Reuters) - United Community Banks Inc: * UNITED COMMUNITY BANKS, INC. ANNOUNCES QUARTERLY CASH DIVIDEND INCREASE * SETS REGULAR QUARTERLY CASH DIVIDEND OF $0.15 PER SHARE Source text for Eikon: Further company coverage:

BRIEF-United Community Banks Inc Announces Quarterly Cash Dividend Increase

A penthouse in a new Manhattan tower with a Turkish bath and a residents-only blowout bar is hitting the market for $40 million. The penthouse, at 111 Murray St. in the Tribeca neighborhood, spans approximately 7,488 square feet with a 1,500-square-foot great room with walls of glass and a marble fireplace. It has ceilings over 12 feet high, panoramic views of downtown Manhattan and a master suite with two master bathrooms and a private outdoor terrace. ... To Read the Full Story Subscribe Sign In

Penthouse for ‘Health-Conscious’ Buyer Lists for $40 Million

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April 30 (Reuters) - Orkla ASA: * HAS DECIDED TO INITIATE A SHARE BUYBACK PROGRAM FOR UP TO 10 MILLION SHARES IN THE MARKET * THE PROGRAM WILL BE INITIATED TODAY AND TERMINATED ON 23 JUNE 2018 AT THE LATEST * THE SHARES PURCHASED UNDER THIS PROGRAM WILL BE USED FOR ORKLA’S SHARE FOR EMPLOYEES PROGRAM AS APPROVED BY THE GENERAL MEETING ON 12 APRIL 2018 AS WELL AS FOR AMORTIZATION PURPOSES Source text for Eikon: Further company coverage: (Reporting By Camilla Knudsen)

BRIEF-Orkla starts share buyback program

SAN ANTONIO--(BUSINESS WIRE)-- Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) today reported financial results for the first quarter ended March 31, 2018. “The investments we continue to make in both the Americas and International businesses to enhance our global network are benefiting our marketing and advertising partners and generating results,” said Bob Pittman, Executive Chairman and Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “In the first quarter, we have delivered against our strategy in key markets worldwide by expanding our digital network, enhancing our programmatic solutions and data analytics capabilities and winning new contracts.” Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. said: “We are encouraged by our start in the first quarter of 2018. Revenue increased, operating income declined primarily due to a gain from the sale of our Indianapolis market in the prior year, while OIBDAN increased. We continue to be committed to financial discipline as we invest in our strategic growth initiatives.” Key Financial Highlights The Company’s key financial highlights for the first quarter of 2018 include: Consolidated revenue increased 9.9%. Consolidated revenue increased 4.4%, after adjusting for a $34.8 million impact from movements in foreign exchange rates and the $4.7 million impact of the sale of our business in Canada. Americas revenues decreased $4.5 million, or 1.7%. Revenues increased $0.2 million, or 0.1%, after adjusting for the $4.7 million impact from the sale of our business in Canada. International revenues increased $58.5 million, or 20.6%. Revenues increased $23.7 million, or 8.3%, after adjusting for a $34.8 million impact from movements in foreign exchange rates. Operating income (loss) decreased 139.1% to $(8.4) million, primarily due to the gain of $28.6 million recognized on the sale of our Americas Indianapolis market in the first quarter of 2017. OIBDAN increased 13.0%. OIBDAN increased 10.1%, excluding the impact from movements in foreign exchange rates and the impact of the sale of our business in Canada. Key Non-Financial Highlights The Company’s recent key non-financial highlights include: Building out our digital network by adding 36 new digital billboards for a total of 1,228 now available across the United States and installing 335 digital displays with more than 14,000 now available across our International markets including: Acquiring the rights to manage 22 new digital displays in Philadelphia. Launching Hyperstories in France, an exclusive out-of-home (OOH) video and social content platform that allows brands and cities to connect with customers by sponsoring or creating story content through a partnership with BRUT, an online video producer. Available across all of our digital shopping malls and street furniture networks in France, the stories are also amplified online via micro-influencers - enabling advertisers to engage consumers in both the physical and digital worlds. Installing ‘City Play’ digital screens - a network of portrait LCDs - in the cities of Ostend, Diest and Tienen in Belgium. Announcing the addition of three large digital billboards to its digital OOH network in Madrid, Spain - the billboards are prominently located in one of Europe’s biggest gastronomic and leisure spots, Platea Madrid and will be seen by over 3.5 million visitors annually. Adding 11 digital screens in Basel, Switzerland. Enhancing the capabilities of our tools: Introducing RADARView to RADAR’s suite of out-of-home advanced data-analytics advertising solutions. It is a sophisticated visualization platform where advertisers can plan their campaigns by selecting information like demographics, audience segments or locations, to reach consumers. This leverages mobile and digital data - applying the same approach from the digital world to the physical world’s largest screens. Connecting our Ad Platform with Posterscope’s location analytics planning and trading platform, enabled through Clear Channel UK’s first external API integration. Media buyers can connect to our Ad Platform through their planning and buying tools, making the buying process simpler and more flexible. Widening our reach with new contracts: Expanding our displays in San Diego - winning the long-term expansion deal to administer, innovate and grow ad sales across the San Diego Metropolitan Transit System's 550+ buses and 150+ trolleys for up to a period of 10 years. Announcing a five-year extension with Bradley International Airport in Hartford, CT and the introduction of a state-of-the-art advertising program to help advertisers engage with airline passengers passing through the Insurance Capital of the World. Becoming the market leader in regional bus advertising in France following the extension of our partnership with Transdev. We now reach almost 60 percent of people in France’s major regional cities. Winning an additional contract for OOH advertising in the city of Stockholm, Sweden, including advertising on an estimated 2,000 buses. We now hold three out of four of SL’s (Stockholm Public Transport) advertising contracts, strengthening our position in the market. Being honored within the industry and community: Receiving the Federal Bureau of Investigation’s, “Director’s Community Leadership Award” - in recognition of our Las Vegas team’s prompt action providing digital billboard services that assisted law enforcement in generating thousands of leads and tips, following the tragic event last October in Las Vegas. Accepting the “Best Sales Initiative” and “Best Sales Team - All Media” gold awards for Clear Channel Ireland at the annual Media Awards 2018. Recognizing the Milwaukee Brewers Baseball Club for receiving both a Gold and Silver OBIE Award from the Outdoor Advertising Association of America in recognition of the team’s four-phase billboard campaign leading up to the start of the 2017 baseball season on Clear Channel Americas billboards. GAAP Measures by Segment (In thousands) Three Months Ended March 31, % Change 2018 2017 Revenue Americas $ 255,847 $ 260,346 (1.7 )% International 342,864 284,380 20.6 % Consolidated revenue $ 598,711 $ 544,726 9.9 % Direct Operating and SG&A expenses 1 Americas $ 173,823 $ 181,029 (4.0 )% International 313,787 262,676 19.5 % Consolidated Direct Operating and SG&A expenses 1 $ 487,610 $ 443,705 9.9 % Operating income (loss) Americas $ 37,520 $ 36,501 2.8 % International (9,488 ) (11,448 ) (17.1 )% Corporate 2 (36,426 ) (36,066 ) 1.0 % Other operating income (expense), net (54 ) 32,611 Consolidated Operating income (loss) $ (8,448 ) $ 21,598 (139.1 )% 1 Direct Operating and SG&A Expenses as included throughout this earnings release refers to the sum of Direct operating expenses (excludes depreciation and amortization) and Selling, general and administrative expenses (excludes depreciation and amortization). 2 Includes Corporate depreciation and amortization of $1.0 million and $1.5 million for the three months ended March 31, 2018 and 2017, respectively. Non-GAAP Measures 1 (see preceding table for comparable GAAP measures) (In thousands) Three Months Ended March 31, % Change 2018 2017 Revenue excluding movements in foreign exchange Americas $ 255,847 $ 260,346 (1.7 )% International 308,086 284,380 8.3 % Consolidated revenue excluding movements in foreign exchange $ 563,933 $ 544,726 3.5 % Direct Operating and SG&A expenses 1 excluding movements in foreign exchange Americas $ 173,823 $ 181,029 (4.0 )% International 280,983 262,676 7.0 % Consolidated Direct Operating and SG&A expenses excluding movements in foreign exchange $ 454,806 $ 443,705 2.5 % OIBDAN Americas $ 82,024 $ 79,317 3.4 % International 29,077 21,704 34.0 % Corporate (33,329 ) (32,181 ) 3.6 % Consolidated OIBDAN $ 77,772 $ 68,840 13.0 % OIBDAN excluding movements in foreign exchange Americas $ 82,024 $ 79,317 3.4 % International 27,103 21,704 24.9 % Corporate (32,513 ) (32,181 ) 1.0 % Consolidated OIBDAN excluding movements in foreign exchange $ 76,614 $ 68,840 11.3 % Revenue excluding effects of foreign exchange and revenue from business sold Americas $ 255,847 $ 255,676 0.1 % Consolidated revenue, excluding effects of foreign exchange and revenue from business sold $ 563,933 $ 540,056 4.4 % OIBDAN excluding effects of foreign exchange and revenue from business sold Americas $ 82,024 $ 80,085 2.4 % Consolidated OIBDAN, excluding effects of foreign exchange and revenue from business sold $ 76,614 $ 69,608 10.1 % Certain prior period amounts have been reclassified to conform to the 2018 presentation of financial information throughout the press release. 1 See the end of this press release for reconciliations of (i) OIBDAN, excluding effects of foreign exchange rates and OIBDAN for each segment, to consolidated and segment operating income (loss); (ii) revenues, excluding effects of foreign exchange rates, to revenues; (iii) direct operating and SG&A expenses, excluding effects of foreign exchange rates, to direct operating and SG&A expenses; (iv) corporate expenses, excluding non-cash compensation expenses and effects of foreign exchange rates, to corporate expenses; (v) Consolidated and segment revenues, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment revenues; (vi) Consolidated and segment direct operating and SG&A expenses, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment direct operating and SG&A expenses; and (vii) Consolidated and segment OIBDAN, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment operating income (loss). See also the definition of OIBDAN under the Supplemental Disclosure section in this release. First Quarter 2018 Results Consolidated Consolidated revenue increased $54.0 million, or 9.9%, during the first quarter of 2018 as compared to the first quarter of 2017. Consolidated revenue increased $23.9 million, or 4.4%, after adjusting for a $34.8 million impact from movements in foreign exchange rates and the $4.7 million impact from the sale of our business in Canada. Consolidated direct operating and SG&A expenses increased $43.9 million, or 9.9%, during the first quarter of 2018 as compared to the first quarter of 2017. Consolidated direct operating and SG&A expenses increased $16.5 million, or 3.8%, in the first quarter, after adjusting for a $32.8 million impact from movements in foreign exchange rates and the $5.4 million impact from the sale of our business in Canada. Consolidated operating income (loss ) decreased 139.1% to $(8.4) million, during the first quarter of 2018 as compared to the first quarter of 2017, primarily due to the net gain of $28.6 million recognized on the sale of our Americas Indianapolis market in the first quarter of 2017. The Company's OIBDAN increased 13.0% to $77.8 million, during the first quarter of 2018 as compared to the first quarter of 2017. The Company’s OIBDAN increased 10.1% in the first quarter 2018 compared to the same period of 2017, after adjusting for movements in foreign exchange rates and the impact from the sale of our business in Canada. Americas Americas revenues decreased $4.5 million, or 1.7%, during the first quarter of 2018 as compared to the first quarter of 2017. Revenues increased $0.2 million, or 0.1%, after adjusting for the $4.7 million impact from the sale of our business in Canada. Direct operating and SG&A expenses decreased $7.2 million, or 4.0%, during the first quarter of 2018 as compared to the first quarter of 2017. Direct operating and SG&A expenses decreased $1.8 million, or 1.0%, after adjusting for the $5.4 million impact from the sale of our business in Canada. Operating income increased 2.8% to $37.5 million during the first quarter of 2018 as compared to the first quarter of 2017. OIBDAN increased $2.7 million, or 3.4%. OIBDAN increased $1.9 million, or 2.4%, during the first quarter of 2018, after adjusting for the $0.8 million impact from the sale of our business in Canada. International International revenues increased $58.5 million, or 20.6%, during the first quarter of 2018 as compared to the first quarter of 2017. Revenues increased $23.7 million, or 8.3%, after adjusting for a $34.8 million impact from movements in foreign exchange rates. The increase is primarily due to growth across several markets including China, Switzerland, Spain and Sweden, primarily from new deployments and digital expansion. Direct operating and SG&A expenses increased $51.1 million, or 19.5%, during the first quarter of 2018 as compared to the first quarter of 2017. Direct operating and SG&A expenses increased $18.3 million, or 7.0%, after adjusting for a $32.8 million impact from movements in foreign exchange rates. Direct operating and SG&A expenses increased primarily due to higher site lease expenses and other variable expenses in countries experiencing revenue growth. Operating loss decreased 17.1% to $(9.5) million during the first quarter of 2018 as compared to the first quarter of 2017. OIBDAN increased $7.4 million, or 34.0%. OIBDAN increased $5.4 million, or 24.9%, during the first quarter of 2018, after adjusting for a $2.0 million impact from movements in foreign exchange rates. Clear Channel International B.V. (“CCIBV”) CCIBV’s consolidated revenues increased $42.9 million to $266.8 million in the first quarter of 2018 compared to the same period in 2017. This increase includes a $30.1 million impact from movements in foreign exchange rates. Excluding the impact from movements in foreign exchange rates, CCIBV revenues increased $12.8 million during the first quarter of 2018 as compared to the same period in 2017. CCIBV’s operating loss was $13.7 million in the first quarter of 2018 compared to operating loss of $20.7 million in the same period in 2017, which was primarily due to the increase in revenues, due to growth across several markets, partially offset by an increase in direct operating expenses. Liquidity and Financial Position As of March 31, 2018, we had $153.2 million of cash on our balance sheet, including $135.4 million of cash held outside the U.S. by our subsidiaries. For the three months ended March 31, 2018, cash provided by operating activities was $5.0 million, cash used for investing activities was $27.3 million, cash provided by financing activities was $30.5 million, and there was $3.3 million impact from movements in foreign exchange rates on cash. The net increase in cash, cash equivalents and restricted cash from December 31, 2017 was $11.6 million. Capital expenditures for the three months ended March 31, 2018 were $28.7 million compared to $36.3 million for the same period in 2017. On January 24, 2018, we made a demand for repayment of $30.0 million outstanding under the Due from iHeartCommunications Note and simultaneously paid a special cash dividend of $30.0 million. iHeartCommunications received approximately 89.5%, or approximately $26.8 million, of the proceeds of the dividend through its wholly-owned subsidiaries, with the remaining approximately 10.5%, or approximately $3.2 million, of the proceeds of the dividend paid to our public stockholders. At March 31, 2018, the principal amount outstanding under the Due from iHeartCommunications Note was $1,031.7 million. As a result of the voluntary petition by iHeartMedia, iHeartCommunications and certain of their subsidiaries for reorganization under Chapter 11 of the United States Bankruptcy Code (the "iHeart Chapter 11 Cases"), CCOH recognized a loss of $855.6 million on the Due from iHeartCommunications Note during the fourth quarter of 2017 to reflect the estimated recoverable amount of the note as of December 31, 2017, based on management's best estimate of the cash settlement amount. As of March 31, 2018 and December 31, 2017, the asset recorded in “Due from iHeartCommunications” on our consolidated balance sheet was $154.8 million and $212.0 million, respectively Conference Call The Company will host a conference call to discuss results on May 22, 2018 at 8:30 a.m. Eastern Time. The conference call number is (800) 230-1092 (U.S. callers) and (612) 288-0337 (International callers) and the passcode for both is 449192. A live audio webcast of the conference call will also be available on the investor section of www.clearchanneloutdoor.com . After the live conference call, a replay will be available for a period of thirty days. The replay numbers are (800) 475-6701 (U.S. callers) and (320) 365-3844 (International callers) and the passcode for both is 449192. An archive of the webcast will be available beginning 24 hours after the call for a period of thirty days. TABLE 1 - Financial Highlights of Clear Channel Outdoor Holdings, Inc. and Subsidiaries (In thousands) Three Months Ended March 31, 2018 2017 Revenue $ 598,711 $ 544,726 Operating expenses: Direct operating expenses (excludes depreciation and amortization) 360,202 327,931 Selling, general and administrative expenses (excludes depreciation and amortization) 127,408 115,774 Corporate expenses (excludes depreciation and amortization) 35,435 34,540 Depreciation and amortization 84,060 77,494 Other operating income (expense), net (54 ) 32,611 Operating income (loss) (8,448 ) 21,598 Interest expense 97,264 92,633 Interest income on Due from iHeartCommunications — 14,807 Equity in earnings (loss) of nonconsolidated affiliates 188 (472 ) Other income, net 19,543 3,867 Loss before income taxes (85,981 ) (52,833 ) Income tax benefit (expense) (45,367 ) 21,837 Consolidated net loss (131,348 ) (30,996 ) Less: Amount attributable to noncontrolling interest (4,416 ) (1,995 ) Net loss attributable to the Company $ (126,932 ) $ (29,001 ) For the three months ended March 31, 2018, foreign exchange rate movements increased the Company’s revenues by $34.8 million and increased direct operating expenses by $24.6 million and SG&A expenses by $8.2 million. TABLE 2 - Selected Balance Sheet Information Selected balance sheet information for March 31, 2018 and December 31, 2017: (In millions) March 31, 2018 December 31, 2017 Cash and cash equivalents $ 153.2 $ 144.1 Total current assets 1,003.7 974.2 Net property, plant and equipment 1,365.1 1,395.0 Due from iHeartCommunications 154.8 212.0 Total assets 4,615.5 4,670.8 Current liabilities (excluding current portion of long-term debt) 733.4 656.9 Long-term debt (including current portion of long-term debt) 5,271.3 5,266.7 Stockholders’ deficit (1,993.6 ) (1,841.4 ) TABLE 3 - Total Debt At March 31, 2018 and December 31, 2017, Clear Channel Outdoor Holdings had a total net debt of: (In millions) March 31, 2018 December 31, 2017 Clear Channel Worldwide Senior Notes: 6.5% Series A Senior Notes Due 2022 $ 735.8 $ 735.8 6.5% Series B Senior Notes Due 2022 1,989.2 1,989.2 Clear Channel Worldwide Holdings Senior Subordinated Notes: 7.625% Series A Senior Subordinated Notes Due 2020 275.0 275.0 7.625% Series B Senior Subordinated Notes Due 2020 1,925.0 1,925.0 Clear Channel International B.V. Senior Notes due 2020 375.0 375.0 Other debt 4.4 2.4 Original issue discount (0.4 ) (0.2 ) Long-term debt fees (32.7 ) (35.5 ) Total debt 5,271.3 5,266.7 Cash 153.2 144.1 Net Debt $ 5,118.1 $ 5,122.6 The current portion of long-term debt was $0.5 million and $0.6 million as of March 31, 2018 and December 31, 2017, respectively. Supplemental Disclosure Regarding Non-GAAP Financial Information The following tables set forth the Company’s OIBDAN for the three months ended March 31, 2018 and 2017. The Company defines OIBDAN as consolidated operating income adjusted to exclude non-cash compensation expenses, included within corporate expenses, as well as the following line items presented in its Statement of Operations: Depreciation and amortization; Impairment charges; and Other operating income (expense), net. The Company uses OIBDAN, among other measures, to evaluate the Company's operating performance. This measure is among the primary measures used by management for the planning and forecasting of future periods, as well as for measuring performance for compensation of executives and other members of management. We believe this measure is an important indicator of the Company's operational strength and performance of its business because it provides a link between operational performance and operating income. It is also a primary measure used by management in evaluating companies as potential acquisition targets. The Company believes the presentation of this measure is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by the Company's management. The Company believes it helps improve investors' ability to understand the Company's operating performance and makes it easier to compare the Company's results with other companies that have different capital structures or tax rates. In addition, the Company believes this measure is also among the primary measures used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry. Since OIBDAN is not a measure calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, operating income as an indicator of operating performance and may not be comparable to similarly titled measures employed by other companies. OIBDAN is not necessarily a measure of the Company's ability to fund its cash needs. As it excludes certain financial information compared with operating income, the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are excluded. The other non-GAAP financial measures presented in the tables below are: (i) revenues, direct operating and SG&A expenses and OIBDAN, each excluding the effects of foreign exchange rates; (ii) revenues, direct operating and SG&A expenses and OIBDAN, each excluding the effects of foreign exchange rates and the results from business sold and (iii) corporate expenses, excluding non-cash compensation expenses and the effects of foreign exchange rates. The Company presents revenues, direct operating and SG&A expenses and OIBDAN, each excluding the effects of foreign exchange rates, because management believes that viewing certain financial results without the impact of fluctuations in foreign currency rates facilitates period to period comparisons of business performance and provides useful information to investors. A significant portion of the Company's advertising operations are conducted in foreign markets, principally Europe, the U.K. and China, and management reviews the results from its foreign operations on a constant dollar basis. Revenues, direct operating and SG&A expenses and OIBDAN, each excluding the effects of foreign exchange rates, are calculated by converting the current period's amounts in local currency to U.S. dollars using average foreign exchange rates for the prior period. In the third quarter of 2018, we sold our business in Canada. The Company presents revenues, direct operating and SG&A expenses and OIBDAN, each excluding the effects of foreign exchange rates and the results from the business sold, for the consolidated Company and the Company's segments, in order to facilitate investors' understanding of operational trends without the impact of fluctuations in foreign currency rates and without the results from the markets and businesses that were sold, as these results will not be included in the Company's results in current and future periods. Corporate expenses, excluding the effects of non-cash compensation expenses is presented as OIBDAN excludes non-cash compensation expenses. Since these non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the most directly comparable GAAP financial measures as an indicator of operating performance. As required by the SEC rules, the Company provides reconciliations below to the most directly comparable amounts reported under GAAP, including (i) OIBDAN, excluding effects of foreign exchange rates and OIBDAN for each segment, to consolidated and segment operating income (loss); (ii) revenues, excluding effects of foreign exchange rates, to revenues; (iii) direct operating and SG&A expenses, excluding effects of foreign exchange rates, to direct operating and SG&A expenses; (iv) corporate expenses, excluding non-cash compensation expenses and effects of foreign exchange rates, to corporate expenses; (v) Consolidated and segment revenues, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment revenues; (vi) Consolidated and segment direct operating and SG&A expenses, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment direct operating and SG&A expenses; and (vii) Consolidated and segment OIBDAN, excluding effects of foreign exchange rates and results from business sold, to Consolidated and segment operating income (loss). Reconciliation of OIBDAN, excluding effects of foreign exchange rates and OIBDAN for each segment to, Consolidated and Segment Operating Income (Loss) (In thousands) OIBDAN excluding effects of foreign exchange Foreign exchange effects OIBDAN (subtotal) Non-cash compensation expenses Depreciation and amortization Other operating (income) expense, net Operating income (loss) Three Months Ended March 31, 2018 Americas $ 82,024 $ — $ 82,024 $ — $ 44,504 $ — $ 37,520 International 27,103 1,974 29,077 — 38,565 — (9,488 ) Corporate (32,513 ) (816 ) (33,329 ) 2,106 991 — (36,426 ) Impairment charges — — — — — — — Other operating expense, net — — — — — 54 (54 ) Consolidated $ 76,614 $ 1,158 $ 77,772 $ 2,106 $ 84,060 $ 54 $ (8,448 ) Three Months Ended March 31, 2017 Americas $ 79,317 $ — $ 79,317 $ — $ 42,816 $ — $ 36,501 International 21,704 — 21,704 — 33,152 — (11,448 ) Corporate (32,181 ) — (32,181 ) 2,359 1,526 — (36,066 ) Impairment charges — — — — — — — Other operating income, net — — — — — (32,611 ) 32,611 Consolidated $ 68,840 $ — $ 68,840 $ 2,359 $ 77,494 $ (32,611 ) $ 21,598 Reconciliation of Revenues, excluding effects of foreign exchange rates, to Revenues (In thousands) Three Months Ended March 31, % Change 2018 2017 Consolidated revenue $ 598,711 $ 544,726 9.9 % Excluding: Foreign exchange increase (34,778 ) — Consolidated revenue excluding effects of foreign exchange $ 563,933 $ 544,726 3.5 % International revenue $ 342,864 $ 284,380 20.6 % Excluding: Foreign exchange increase (34,778 ) — International revenue excluding effects of foreign exchange $ 308,086 $ 284,380 8.3 % Reconciliation of Direct operating and SG&A expenses, excluding effects of foreign exchange rates, to Direct operating and SG&A expenses (In thousands) Three Months Ended March 31, % Change 2018 2017 Consolidated direct operating and SG&A expenses $ 487,610 $ 443,705 9.9 % Excluding: Foreign exchange increase (32,804 ) — Consolidated direct operating and SG&A expenses excluding effects of foreign exchange $ 454,806 $ 443,705 2.5 % International direct operating and SG&A expenses $ 313,787 $ 262,676 19.5 % Excluding: Foreign exchange increase (32,804 ) — International direct operating and SG&A expenses excluding effects of foreign exchange $ 280,983 $ 262,676 7.0 % Reconciliation of Corporate expenses, excluding non-cash compensation expenses and effects of foreign exchange rates, to Corporate Expenses (In thousands) Three Months Ended March 31, % Change 2018 2017 Corporate Expense $ 35,435 $ 34,540 2.6% Excluding: Non-cash compensation expense (2,106 ) (2,359 ) Corporate Expense excluding non-cash compensation expense $ 33,329 $ 32,181 3.6% Excluding: Foreign exchange increase $ (816 ) $ — Corporate Expense excluding non-cash compensation expense and effects of foreign exchange $ 32,513 $ 32,181 1.0% Reconciliation of Consolidated and Segment Revenues, excluding effects of foreign exchange rates and results from business sold, to Consolidated and Segment Revenues (In thousands) Three Months Ended March 31, % Change 2018 2017 Consolidated revenue $ 598,711 $ 544,726 9.9 % Excluding: Revenue from business sold — (4,670 ) Excluding: Foreign exchange increase (34,778 ) — Consolidated revenue, excluding effects of foreign exchange and revenue from business sold $ 563,933 $ 540,056 4.4 % Americas revenue $ 255,847 $ 260,346 (1.7 )% Excluding: Revenue from business sold — (4,670 ) Americas revenue, excluding effects of foreign exchange and revenue from business sold $ 255,847 $ 255,676 0.1 % Reconciliation of Consolidated and Segment Direct operating and SG&A expenses, excluding effects of foreign exchange rates and results from business sold, to Consolidated and Segment Direct operating and SG&A expenses (In thousands) Three Months Ended March 31, % Change 2018 2017 Consolidated direct operating and SG&A expenses $ 487,610 $ 443,705 9.9 % Excluding: Operating expenses from business sold — (5,438 ) Excluding: Foreign exchange increase (32,804 ) — Consolidated direct operating and SG&A expenses, excluding effects of foreign exchange and operating expenses from business sold $ 454,806 $ 438,267 3.8 % Americas direct operating and SG&A expenses $ 173,823 $ 181,029 (4.0 )% Excluding: Operating expenses from business sold — (5,438 ) Americas direct operating and SG&A expenses, excluding effects of foreign exchange and operating expenses from business sold $ 173,823 $ 175,591 (1.0 )% Reconciliation of Consolidated and Segment OIBDAN, excluding effects of foreign exchange rates and results from business sold to, Consolidated and Segment Operating Income (Loss) (In thousands) Three Months Ended March 31, % Change 2018 2017 Consolidated operating income (loss) $ (8,448 ) $ 21,598 (139.1 )% Excluding: Revenue, direct operating and SG&A expenses from business sold — 768 Excluding: Foreign exchange increase (1,158 ) — Excluding: Non-cash compensation expense 2,106 2,359 Excluding: Depreciation and amortization 84,060 77,494 Excluding: Other operating (income) expense, net 54 (32,611 ) Consolidated OIBDAN, excluding effects of foreign exchange and OIBDAN from business sold $ 76,614 $ 69,608 10.1 % Americas Outdoor operating income $ 37,520 $ 36,501 2.8 % Excluding: Revenue, direct operating and SG&A expenses from business sold — 768 Excluding: Depreciation and amortization 44,504 42,816 Americas Outdoor OIBDAN, excluding effects of foreign exchange and OIBDAN from business sold $ 82,024 $ 80,085 2.4 % About Clear Channel Outdoor Holdings, Inc. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is one of the world’s largest outdoor advertising companies with over 560,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 43 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and more than 14,000 digital displays in international markets. More information is available at www.clearchanneloutdoor.com and www.clearchannelinternational.com . Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clear Channel Outdoor Holdings, Inc. and its subsidiary Clear Channel International B.V. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words or phrases “guidance,” “believe,” “expect,” “anticipate,” “estimates,” “forecast” and similar words or expressions are intended to identify such forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances, such as statements about our business plans, strategies and initiatives and our expectations about certain markets, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to: weak or uncertain global economic condition; our ability to service our debt obligations and to fund our operations and capital expenditures; industry conditions, including competition; our dependence on our management team and other key individuals; our ability to obtain key municipal concessions; fluctuations in operating costs; technological changes and innovations; shifts in population and other demographics; other general economic and political conditions in the United States and in other countries in which we currently do business; changes in labor conditions and management; the impact of future dispositions, acquisitions and other strategic transactions; legislative or regulatory requirements; regulations and consumer concerns regarding privacy and data protection; restrictions on outdoor advertising of certain products; capital expenditure requirements; fluctuations in exchange rates and currency values; risks of doing business in foreign countries; the identification of a material weakness in our internal controls over financial reporting; our relationship with iHeartCommunications, including its ability to elect all of the members of our board of directors and its ability as our controlling stockholder to determine the outcome of matters submitted to our stockholders and certain additional matters governed by intercompany agreements between us; the risks and uncertainties associated with the iHeart Chapter 11 Cases on us and iHeartCommunications, our primary direct or indirect external source of capital, which is operating as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court; the obligations and restrictions imposed on us by our agreements with iHeartCommunucations; the risk that we may be unable to replace the services iHeartCommunications provides us in a timely manner or on comparable terms; the risk that the iHeart Chapter 11 Cases may result in unfavorable tax consequences for us and impair our ability to utilize our federal income tax net operating loss carryforwards in future years; the impact of our substantial indebtedness, including the effect of our leverage on our financial position and earnings; the ability of our subsidiaries to dividend or distribute funds to us in order for us to repay our debts; the restrictions contained in the agreements governing our indebtedness limiting our flexibility in operating our business; and the effect of credit ratings downgrades. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Other key risks are described in the Company’s reports filed with the U.S. Securities and Exchange Commission, including the section entitled “Item 1A. Risk Factors” of Clear Channel Outdoor Holdings, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Except as otherwise stated in this press release, the Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. View source version on businesswire.com : https://www.businesswire.com/news/home/20180522005370/en/ For further information: Clear Channel Outdoor Holdings, Inc. Media Wendy Goldberg, 212-377-1105 Executive Vice President – Communications or Investors Eileen McLaughlin, 212-377-1116 Vice President – Investor Relations Source: Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. Reports Results for 2018 First Quarter

May 9, 2018 / 6:34 PM / in 40 minutes Rio councilwoman's murder may be linked to colleague, probe finds - sources Rodrigo Viga Gaier 4 Min Read RIO DE JANEIRO (Reuters) - Brazilian authorities investigating the assassination of a Rio de Janeiro councilwoman are closing in on suspects, including a fellow councilman accused of links to paramilitary militias, two sources with knowledge of the investigation told Reuters on Wednesday. Pictures of Rio de Janeiro city councilor Marielle Franco are seen, where she was shot dead in Rio de Janeiro, Brazil May 9, 2018. REUTERS/Ricardo Moraes Marielle Franco, an outspoken critic of the militias that control many impoverished areas of Brazil’s second-largest city, was shot four times in the head in March as she rode in a car in central Rio. Her driver was also killed. The killing sparked major protests in Brazil and demands that her murder be solved quickly. As a rare black politician who came from a poor background, she was seen by many of Rio’s impoverished as a hope that their voices would increasingly be heard. O Globo newspaper reported on Tuesday night that in relation to Franco’s murder police were investigating councilman Marcello Siciliano, whose political stronghold is an area in western Rio controlled by militias. Two government sources confirmed to Reuters that investigators were close to naming suspects and that Siciliano is one of those involved, citing evidence given by a militia member. The sources spoke on condition their names not be used, saying they were not authorized to discuss the case. A picture of Rio de Janeiro city councillor Marielle Franco is seen, where she was shot dead in Rio de Janeiro, Brazil May 9, 2018. REUTERS/Ricardo Moraes Siciliano strongly denied any link to the case in a written statement released on Wednesday and sent to Reuters, calling the allegations “totally false.” At a media conference later Wednesday, Siciliano underscored his innocence, saying that he had a good relationship with Franco and that “she had even attended my birthday party.” He said he had already been questioned by police, as have several councilmen who knew Franco, and that he was available to answer any questions investigators might have at any time. A man walks near a wall, where Rio de Janeiro city councillor Marielle Franco was shot dead in Rio de Janeiro, Brazil May 9, 2018. The wall reads: "Marielle present" and "execution". REUTERS/Ricardo Moraes “Now, more than ever, I ask that everything be brought to light as quickly as possible,” Siciliano said. The two sources told Reuters that a militia member who is cooperating with federal police told authorities he witnessed four meetings last year between Siciliano and former police officer Orlando Oliveira de Araujo, during which they plotted Franco’s murder. Araujo was jailed in October while prosecutors investigate a murder charge and allegations that he led a militia in western Rio. His lawyer did not return a request for comment. Militias, formed by former and current police officers, firefighters, prison guards and even members of the military, have rapidly expanded in the past decade. They control black-market transport, water and cooking gas sales, extort small businesses for “protection” and are increasingly involved in the drug trade, among other illegal activities. “There is no doubt that this crime was committed by members of a militia,” one of the sources told Reuters. “Marielle had been getting in the way of militia plans and activities.” Franco, 38, was a rising star in the Socialism and Liberty Party (PSOL). She was born and raised in a slum, was a strong advocate for the poor and denounced brutal policing tactics used in shantytowns, where hundreds are killed each year in the crossfire between police and drug gangs who control most of Rio’s slums. Political violence is common in Brazil. In the months before the 2016 city council elections in Baixada Fluminense - a hardscrabble region that surrounds Rio - at least 13 politicians or candidates were murdered before ballots were cast. Reporting by Rodrigo Viga Gaier; Additional reporting and writing by Brad Brooks in Sao Paulo; Editing by Daniel Flynn and Rosalba O'Brien

Rio councilwoman's murder may be linked to colleague, probe finds - sources

May 16, 2018 / 8:56 PM / Updated 14 hours ago Texas murder-suicide leaves five dead, including three children Suzannah Gonzales 1 Min Read (Reuters) - A man fatally shot three children and his ex-wife’s boyfriend inside a Ponder, Texas, home on Wednesday, before shooting and killing himself, the sheriff’s department said. His ex-wife was also wounded in the shooting, said Captain Orlando Hinojosa with the Denton County Sheriff’s Office. The ex-wife is the mother of the three children, Hinojosa said. Hinojosa said he did not know the identity of the children’s father. Officials were called to the home at about 8:30 a.m. local time, responding to a possible burglary in progress, Hinojosa said. Ponder fire officials took the woman to a local hospital, Hinojosa said. Her condition is not known, he said. Reporting by Suzannah Gonzales in Chicago; Editing by Lisa Shumaker

Five dead, one wounded in murder-suicide in Texas: media reports

LAS VEGAS, May 7, 2018 /PRNewswire/ -- Fusion Bank , a leading cash and treasury management solution for the underserved and under-banked high-risk emerging markets, announced Canadian-born, South African-raised content writer and science author Thea R. Beckman as its choice for Content Director. In this position, Ms. Beckman will be responsible for writing all the content (blogs, website text, press releases, email campaigns, and more), while also managing and coordinating the company's content production, scheduling, and marketing efforts. Thea Beckman has a Master of Science degree (MSc) in Atmospheric Sciences and a certificate in Internet Marketing, which she earned at the University of Cape Town, where she also lectured third-year students in Synoptic Climatology. Subsequent to graduation, she moved to Thailand to travel Southeast Asia. It was here that she chanced upon an online job opening at WorldClass Brand Management, a thriving Internet marketing and e-business consulting firm based in San Diego, California. This business was owned and operated by Fusion Bank Chairman Kendell Lang and thus began a long and profitable working relationship between the two. Ms. Beckman, who had always 'had a flourish for creative writing' began her writing career as an SEO copywriter but then, over the years, worked her way up the ranks to Managing Editor, overseeing all the content production, scheduling, and marketing for WorldClass Brand Management and Mr. Lang's other entrepreneurial endeavors, including Fusion Properties Management Group, Inc . (FPMG), a privately held Puerto Rico corporation and real estate developer. Now, having moved back to South Africa and started her own freelance writing business, Content Queen , Ms. Beckman has come on board with Fusion Bank as its Content Director. "I'm extremely excited about the work I will be doing with Fusion Bank, especially since this organization is blazing fresh trails," says Ms. Beckman. "We have a real chance here to change the face of the legal cannabis industry, not only for the licensed businesses that are struggling against federal prohibition but also - especially - for the patients and researchers." Outside of her commitment to Fusion Bank, Thea Beckman writes for a celebrated South African-based lifestyle, travel, and leisure magazine, Southern Vines , which has her travelling all over South Africa to experience its wine, food, and culture. Additionally, she is the author of the book "Why? Because Science!" which provides a sweeping and hilarious look at the world, the universe, and human nature (and occasional idiocy) in a way that everyone can understand. "I have worked with Thea since 2011 and so I couldn't be better qualified to judge her mettle; hence the easy decision to offer her this position as Content Director of Fusion Bank," says Kendell Lang. "She's not only my long-standing friend and trusty wordsmith, but also my shero!" About Fusion Bank Fusion Bank is an innovative cash and treasury management solution that is in compliance with required government and central bank regulations. This members-only financial institution is licensed under the Bahamas-based Sovereign Friendly Society and provides safe, legal, and ethical financial, cash, and treasury management services to licensed cannabis operators, ancillary service providers, and qualified cannabis friendly members around the globe, including cultivators, grower industry supporters, patients, healthcare providers, lobbyists, and more. For information NewAccounts@FusionBank.us +1-866-347-3321 visit Fusion Bank to Register for a Bank Account . SOURCE Fusion Bank

Fusion Bank Introduces its New Content Director

May 3 (Reuters) - Pembina Pipeline Corp: * ORATION REPORTS RECORD FIRST QUARTER RESULTS IN 2018 * QTRLY EARNINGS PER COMMON SHARE - BASIC AND DILUTED $0.59 * QTRLY REVENUE $1,837 MILLION VERSUS $1,480 MILLION Source text for Eikon: Our

BRIEF-Pembina Pipeline Corp Reports Q1 EPS $0.59

MADRID (Reuters) - Spain’s leading People’s Party (PP) was seen holding on to a slim lead though would be closely followed by market-friendly Ciudadanos if a general election were held today, an official voting intention poll showed on Tuesday. The PP would win 24 percent of the vote while Ciudadanos would overtake the Socialists as the second largest political force with 22.4 percent, according to a poll by Sociological Research Center (CIS). Ciudadanos’ stance against the Catalonia independence movement, which has pushed the government in to its worst political crisis in decades, has helped lift the relatively new party to the top of many polls. According to the CIS poll, the Socialists would win 22 percent of the vote, while anti-austerity Podemos would secure 19.6 percent. Those results compared to previous poll published in February which showed the PP taking 26.3 percent, Socialists 23.1 percent, Ciudadanos 20.7 percent and Podemos 19 percent. The PP holds a minority in parliament after the last general election in 2016. Spaniards are expected to return to voting booths again in around 2020. Reporting by Rodrigo de Miguel; writing by Paul E. Day; editing by Jesús Aguado

Spain's ruling PP seen holding slim lead in election in official poll

May 28, 2018 / 4:46 AM / Updated 6 hours ago China April industrial profit growth rebounds to 6-month high Reuters Staff 4 Min Read BEIJING (Reuters) - Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand. A worker checks tailor-made magnetic stainless steel inside a factory in Dongguan, China April 10, 2018. REUTERS/Bobby Yip/Files Profits in April rose 21.9 percent year-on-year to 576 billion yuan ($90.14 billion), the quickest since October, bringing gains for the first four months of 2018 to 15 percent. The data suggests China’s industrial sector is still seeing solid growth momentum despite curbs on pollution and rocky trade relations with the United States. Last month’s rebound was helped by lower comparison figures for April 2017, higher factory prices and stronger demand, He Ping, head of NBS’ industrial division, said in a statement. It was a significant improvement over March’s 3.1 percent growth that was the slowest in over a year and which government officials had blamed on the timing of the Lunar New Year holiday. The higher April data should help ease concerns of slowing momentum in China’s economy as the country implements tougher pollution controls on “smokestack” industries and cash-strapped regional governments cut back on big investment projects, curbing demand for building materials. Profit growth for Chinese industrial firms has softened from last year’s strong pace as factory gate price gains weaken. In the first four months of 2017, profits rose 24.4 percent. China’s producer price inflation picked up to 3.4 percent in April from March but was much lower than 6.4 percent in the year-ago period. Weaker profit growth suggests companies may be reluctant to invest and hire new staff, while making it harder for debt-laden firms to service their debt, especially state-owned enterprises that account for the bulk of the country’s high leverage. A Reuters analysis showed that debt growth for Chinese companies has slowed to the lowest rate in more than a decade, but companies have also seen profit margins squeezed to their lowest level in two years. April economic data had shown signs of slowing momentum as investment growth touched a near 20-year low and retail sales growth weakened. Despite stronger-than-expected first-quarter economic growth, economists polled by Reuters still expect a gradual slowdown to around 6.5 percent this year from 6.9 percent in 2017, as rising borrowing costs weigh on consumption and investment. Beijing continues to call for tighter controls on risky investments and speculation in the property sector, but does not want to cut off funding to firms in the “real economy” such as manufacturing firms that are a key source of jobs. There have also been signs that policymakers have moved to a slightly looser stance as they look to ensure growth doesn’t slow too much, while also keeping financial risks under control. STEEL SECTOR LEADS REBOUND April’s rebound was led by the steel, chemicals and automobile industries, said He, as profits for iron and steel processing firms rose 260 percent in April. No industrial sectors recorded year-on-year losses over January to April, the data showed. But earnings in the computer and telecommunications sector fell 5.3 percent over the four months, though that was a slight improvement from an 11 percent decline in the first quarter. Liabilities of industrial firms rose 6.1 percent year-on-year as of end-April, according to the statistics bureau. Profits at China’s state-owned firms rose 26.2 percent to 627 billion yuan for Jan-April, compared with a 23.1 percent rise in the first quarter. The data includes companies with annual revenues of more than 20 million yuan ($3.13 million) from their main operations. ($1 = 6.3903 Chinese yuan)

China April industrial profit growth rebounds to 6-month high

TOKYO (Reuters) - After a decade of talks, Japan and China agreed on Wednesday to set up a security hotline to defuse any maritime confrontations between the two Asian powers. The deal is the latest result of a push to improve ties strained by lingering acrimony over Japan’s wartime occupation of swathes of China and a dispute over the ownership of islets in the East China Sea. In a public ceremony after a summit in Tokyo, Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang oversaw the signing of a pact to set up within 30 days a hotline for senior defense officials to communicate during incidents involving each others’ naval vessels or military aircraft. Talks on the hotline had stalled in 2012, after the Japanese government bought the disputed islands, known in Tokyo as the Senkaku, and in Beijing as the Diaoyu, from a private landowner. The step aimed to halt a more inflammatory purchase by the Tokyo city government, then headed by a nationalist governor. China had also resisted Japan’s insistence that the agreement should not cover the territorial waters surrounding the islets, which are controlled by Japan. “It does not include the Senkakus,” a Japanese government official said during an earlier press briefing. Besides the hotline, Wednesday’s pact provides for regular meetings between both nations’ defense officials and a mechanism for their naval vessels to communicate at sea to avert maritime incidents. Known as the Code for Unexpected Encounters at Sea (CUES), the procedure is used by other nations, including the United States. Japan is defended by U.S. forces that have used it as their main Asia base since the end of World War Two. A security treaty obliges Washington to aid Tokyo if its territory is attacked, including the disputed islets, even though the U.S. does not support either side. Reporting by Tim Kelly and Kiyoshi Takenaka; Editing by Clarence Fernandez

Japan and agree on security hotline after a decade of talks |

ATHENS, Ga.--(BUSINESS WIRE)-- SKAPS Industries has completed an agreement to acquire Matrix Composites (Henderson, KY and Seguin, Texas). The acquisition includes all Matrix Composites technologies, operations and assets in their entirety. The acquisition of Matrix provides SKAPS Fiberglass Division a global position and platform to expand in North and South America. SKAPS will focus on customer service performance, technical textile expertise, improved quality and certifications to bring in-line to customers’ expectations. Matrix Composites, Inc. was started January 1996 in Henderson, Kentucky in a new building to produce woven fiberglass fabrics. Under the ownership of Don Hudson (1996) Matrix expanded with a second factory in Seguin, Texas (2002) which took Matrix to producing woven and non-woven fabrics in two different states. Matrix has built a diversified customer based, with lean production practices and the ability to provide speed to market services for many products lines. The acquisition is SKAPS Industries first in North America. About SKAPS Industries: SKAPS Industries was founded by Perry Vyas in 1996. SKAPS is the leader in the fabrication of geosynthetic and nonwoven drainage products for environmental and civil use in the U.S. and abroad. Producing in three countries (USA, India and Brazil) with seven factories it holds a strong presence in over 60 countries. In 2014 SKAPS diversified into fiberglass fabrics in India which since has grown supporting both the woven and non-woven markets. For additional information, please visit www.skaps.com or follow us on LinkedIn and YouTube . View source version on businesswire.com : https://www.businesswire.com/news/home/20180515006662/en/ SKAPS Industries Randall Stout, 480-242-0913 randall.stout@skaps.com Source: SKAPS Industries

SKAPS Industries Acquires Matrix Composites

LONDON, May 30 (Reuters) - British discount retailer B&M European Value reported a 25 percent rise in full-year profit on Wednesday, saying its good valued products were wining over customers in a difficult economic environment. The fast-growing company, which finished the year with 576 B&M stores, reported profit before tax of 229.3 million pounds ($304 million) for the 53 weeks to end-March on sales of 2.98 billion pounds, up 22.4 percent. $1 = 0.7537 pounds Reporting by Paul Sandle; editing by Kate Holton Our Standards: The Thomson Reuters Trust Principles. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Advertise with Us Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

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

U.S. building products company USG Corp on Tuesday said it agreed to open talks to sell itself to Germany’s Gebr Knauf AG, a sale that could benefit Warren Buffett ‘s Berkshire Hathaway Inc, USG’s largest shareholder. Shares of USG rose to their highest since August 2007. USG had in March rejected a $5.9 billion takeover proposal by Knauf, its second-largest shareholder, that valued the wallboard maker at $42 per share. But USG changed its mind after Berkshire, which holds a roughly 31 percent stake, and two major proxy advisory firms recommended voting against four USG board nominees at the Chicago-based company’s May 9 annual meeting. Merger talks may not succeed. USG signaled it might hold out for more than $42 per share and that Knauf “will see value in excess” of its original bid. “Given USG’s having publicly endorsed in a recent investor presentation that it views its intrinsic value at $45 to $52 per share, I don’t think they’re that far apart from getting a deal over the finish line,” said Garik Shmois, a senior analyst at Longbow Research, who rates USG “neutral.” Knauf, which recently held a 10.5 percent USG stake, said it was encouraged by USG’s change of heart, although its original all-cash offer still reflected “full and fair” value. “We are pleased that the board has acknowledged shareholders want to see a transaction,” Knauf said. Berkshire did not immediately respond to a request for comment. In afternoon trading, USG shares were up $1.72, or 4.3 percent, at $41.95 on the New York Stock Exchange. Berkshire has owned a USG stake since 2000, held on as asbestos liabilities helped push USG into a five-year bankruptcy, and provided a $300 million lifeline in 2008 after the housing market imploded. At Berkshire’s 2017 annual shareholder meeting, Buffett called USG “not one of my great ideas” but “no disaster.” Berkshire had in March offered to sell its 43.4 million USG shares for at least $42 each, if Knauf bought the rest of USG for that price or more. Knauf would have paid Berkshire $2 per share up front for that privilege. “It shows that Berkshire has been frustrated with its investment in USG” and that Knauf’s bid was “close enough,” Shmois said. A sale would add to Berkshire’s roughly $116 billion of cash and equivalents, giving Buffett more ammunition for one or more of the “huge” non-insurance acquisitions he has said he wants. Berkshire’s 2018 annual meeting will be held on Saturday.

Warren Buffett-backed USG to open sale talks with Germany's Knauf - HS NEWS

BEIJING (Reuters) - Taiwan has a case of sour grapes, Chinese state media said on Wednesday, after the self-ruled island accused China of using a $3-billion aid pledge to persuade the Dominican Republic to switch long-standing diplomatic ties to Beijing. A police officer stands next to the Dominican Republic flag (L) inside the Taiwan's Ministry of Foreign Affairs in Taipei, Taiwan, May 1, 2018. REUTERS/Tyrone Siu China, which denied there were any economic pre-conditions for establishing relations with the Caribbean nation, says Taiwan is simply a wayward province with no right to state-to-state ties. Taiwan’s government says the Dominican Republic accepted false promises of aid from China. A Taiwan official told Reuters that China had dangled a package of investments, financial assistance and low-interest loans worth at least $3.1 billion to the country, which shares an island with Haiti to the west. The overseas edition of China’s ruling Communist Party’s People’s Daily said Taiwan’s governing Democratic Progressive Party was unfairly trying to cast aspersions on the move. “Once again they are playing the shirking responsibility game of laying the blame on others, creating tragedy and inciting confrontation, slandering the Dominican Republic’s choice of China with an axe to grind,” it wrote in a front page commentary. However, it added, the real story was that the Dominican Republic abandoned Taiwan because that was the irresistible trend of the times and what the people demanded. Chinese Foreign Ministry spokeswoman Hua Chunying reiterated on Wednesday that no “coercion or trade” was involved, saying the decision was “right and proper, and fair and above board”. The changeover leaves Taiwan with formal relations to just 19 countries, many of them poor nations in Central America and the Pacific, such as Belize and Nauru. Widely-read Chinese tabloid the Global Times said Taiwan was now a step closer to having no diplomatic allies. “In the end, Taiwan’s diplomacy will be suffocated,” it added. China and Taiwan have tried to poach each other’s allies over the years, often dangling generous aid packages in front of developing nations, though Taipei struggles to compete with an increasingly powerful China. Beijing has stepped up the pressure on Taiwan since the 2016 election of Tsai Ing-wen, from the pro-independence Democratic Progressive Party, as president. China fears she will push for Taiwan’s formal independence, but Tsai says she wants to maintain the status quo. The official China Daily said there was now “shrinking space for secessionists’ tricks” and that nearly all of the international community recognized Taiwan was an inalienable part of China. “It shows that no matter how hard the Taiwan authorities try to maintain the island’s ‘international space’, their efforts to secure recognition of the island as an ‘independent country’ are doomed to failure,” it said in an editorial. The Dominican Republic is the fourth country to cut ties with Taiwan since Tsai came to office, following the Gambia, Sao Tome and Principe and Panama. The Vatican is possibly next, as the Holy See and China edge closer to an accord on the appointment of bishops there. Reporting by Ben Blanchard; Editing by Clarence Fernandez

China media say Taiwan has sour grapes as another ally goes

May 4, 2018 / 4:23 AM / Updated 7 hours ago Ireland winger Trimble to retire at the end of season Reuters Staff 1 Min Read (Reuters) - Ireland winger Andrew Trimble has announced that he will retire at the end of the season, bringing to a close a 70-test international career and hanging up his boots as Ulster’s most-capped player. Rugby Union - France v Ireland - RBS Six Nations Championship 2016 - Stade de France, St Denis, France - 13/2/16 Irelands Andrew Trimble looks dejected Action Images via Reuters / Andrew Boyers Livepic EDITORIAL USE ONLY. The versatile 33-year-old played at two World Cups for Ireland in 2011 and 2011, missed out on a third in 2015 as he struggled with a toe injury and had clearly decided that next year’s tournament in Japan is beyond him. “These have been some of the most fulfilling days of my life and I feel nothing but gratitude for them,” Trimble said in a statement. “But there’s no way of stopping time and I see that each day in the lives of my young children, who are now close to beating me over 5 metres.” Trimble was his country’s Player of the Year when Ireland won the Six Nations in 2014 and was in the team which gave the country its first win over the All Blacks in Chicago in 2016. He made his debut for Ulster as a teenager and went on to play a record 229 times for his province. Reporting by Hardik Vyas in Bengaluru, editing by Nick Mulvenney

Rugby-Ireland winger Trimble to retire at the end of season

First-Quarter 2018 Revenues of $12.9 Billion First-Quarter 2018 Reported Diluted EPS (1) of $0.59, Adjusted Diluted EPS (2) of $0.77 Reaffirmed All Components of 2018 Financial Guidance NEW YORK--(BUSINESS WIRE)-- Pfizer Inc. (NYSE:PFE) reported financial results for first-quarter 2018 and reaffirmed all components of 2018 financial guidance. Results for the first quarter of 2018 and 2017 (3) are summarized below. OVERALL RESULTS ($ in millions, except per share amounts) First-Quarter 2018 2017 Change Revenues $ 12,906 $ 12,779 1% Reported Net Income (1) 3,561 3,121 14% Reported Diluted EPS (1) 0.59 0.51 15% Adjusted Income (2) 4,668 4,192 11% Adjusted Diluted EPS (2) 0.77 0.69 12% REVENUES ($ in millions) First-Quarter 2018 2017 % Change Total Oper. Innovative Health $ 7,829 $ 7,415 6 % 3 % Essential Health 5,077 5,364 (5 %) (9 %) Total Company $ 12,906 $ 12,779 1 % (2 %) On February 3, 2017, Pfizer completed the sale of its global infusion therapy net assets, Hospira Infusion Systems (HIS). Therefore, financial results for the first quarter of 2018 do not reflect any contribution from legacy HIS operations, while the first quarter of 2017 reflects approximately one month of legacy HIS domestic operations and approximately two months of legacy HIS international operations (3) . Some amounts in this press release may not add due to rounding. All percentages have been calculated using unrounded amounts. References to operational variances pertain to period-over-period growth rates that exclude the impact of foreign exchange (4) . 2018 FINANCIAL GUIDANCE (5) Pfizer’s reaffirmed 2018 financial guidance is presented below. Revenues $53.5 to $55.5 billion Adjusted Cost of Sales (2) as a Percentage of Revenues 20.5% to 21.5% Adjusted SI&A Expenses (2) $14.0 to $15.0 billion Adjusted R&D Expenses (2) $7.4 to $7.9 billion Adjusted Other (Income)/Deductions (2) Approximately $400 million of income Effective Tax Rate on Adjusted Income (2),(6) Approximately 17.0% Adjusted Diluted EPS (2) $2.90 to $3.00 Financial guidance for Adjusted diluted EPS (2) now anticipates share repurchases totaling approximately $6.1 billion in 2018, which includes shares repurchased during first-quarter 2018. Dilution related to share-based employee compensation programs is expected to offset by approximately half the reduction in shares associated with these share repurchases. CAPITAL ALLOCATION During first-quarter 2018, Pfizer returned $8.1 billion directly to shareholders, through a combination of: $2.0 billion of dividends, or $0.34 per share of common stock; and $6.1 billion of share repurchases, composed of $2.1 billion of open-market share repurchases and a $4.0 billion accelerated share repurchase agreement executed in March 2018. As of May 1, 2018, Pfizer’s remaining share repurchase authorization was $10.3 billion. EXECUTIVE COMMENTARY Ian Read, Chairman and Chief Executive Officer, stated, “Our first-quarter 2018 financial results were solid, driven by continued strength from our anchor brands, primarily Ibrance, Eliquis and Xeljanz. The Essential Health business delivered strong growth in emerging markets and biosimilars but was negatively impacted by continued legacy Hospira product supply shortages in the U.S. as well as product losses of exclusivity. We remain focused on executing our commercial strategies, managing expenses, advancing our pipeline and prudently allocating our capital to position Pfizer for sustainable success. “Our pipeline today, with a range of targeted compounds, biologics and vaccines, is as deep and focused as it has ever been. With several potential near-term opportunities in core therapeutic areas, I believe our pipeline presents an unprecedented opportunity to deliver a life-changing impact on a growing number of patients while creating enhanced value for all of our stakeholders,” Mr. Read concluded. Frank D’Amelio, Executive Vice President, Business Operations and Chief Financial Officer, stated, “First-quarter 2018 results were in-line with our expectations and we remain on track to deliver a solid financial performance in 2018. We reaffirmed all components of our 2018 financial guidance, reflecting our performance to date as well as our confidence in the business going forward. Additionally, in first-quarter 2018, we returned $8.1 billion directly to shareholders through dividends and share repurchases, demonstrating our continued commitment to returning capital to our shareholders.” QUARTERLY FINANCIAL HIGHLIGHTS (First-Quarter 2018 vs. First-Quarter 2017) First-quarter 2018 revenues totaled $12.9 billion, an increase of $127 million, or 1%, compared to the prior-year quarter, reflecting the favorable impact of foreign exchange of $430 million, or 3%, partially offset by an operational decline of $302 million, or 2%. Innovative Health Highlights IH revenues increased 3% operationally in first-quarter 2018, primarily driven by continued growth from key brands including Ibrance, Eliquis and Xeljanz. Global operational revenue growth for Ibrance, Eliquis and Xeljanz was 35%, 30% and 29%, respectively. First-quarter 2018 IH operational revenue growth was negatively impacted primarily by the loss of exclusivity of Viagra in the U.S. in December 2017 and the resulting shift in the reporting of U.S. and Canada Viagra revenues to the Essential Health business at the beginning of 2018 (3) . IH operational revenue growth was also negatively impacted by lower revenues for Enbrel in most developed Europe markets due to continued biosimilar competition. In the U.S., revenue for Ibrance, Xeljanz and certain other products was negatively impacted by customer buying patterns. Global Prevnar 13/Prevenar 13 revenues declined 3% operationally in first-quarter 2018. Prevenar 13 revenues in international markets increased 16% operationally, primarily due to the favorable impact of the inclusion of Prevenar 13 in additional national immunization programs in certain emerging markets for the adult indication as well as higher volumes for the pediatric indication resulting from the second-quarter 2017 launch of Prevenar 13 in China and increased shipments associated with Gavi, the Vaccine Alliance, partially offset by the overall unfavorable impact of timing associated with government purchases in certain international markets compared with the prior-year quarter. In the U.S., Prevnar 13 revenues declined 12%, primarily due to lower government purchases in first-quarter 2018 compared to first-quarter 2017 for the pediatric indication due to a change in ordering patterns and, to a lesser extent, the continued decline in revenues for the adult indication due to a smaller remaining “catch up” opportunity compared to the prior-year quarter. Essential Health Highlights First-quarter 2018 EH revenues declined 9% operationally, negatively impacted primarily by a 15% operational decline from the Sterile Injectable Pharmaceuticals (SIP) portfolio, primarily due to continued legacy Hospira product shortages in the U.S. EH operational revenue growth was also negatively impacted by a 15% operational decline from the Peri-LOE Products portfolio, primarily due to expected declines in Lyrica in developed Europe and Pristiq in the U.S., partially offset by the addition of Viagra U.S. revenues previously recorded in the IH business. These declines were partially offset primarily by 12% operational growth in emerging markets and 53% operational growth from Biosimilars, primarily from Inflectra in certain channels in the U.S. as well as in developed Europe. GAAP Reported (1) Income Statement Highlights SELECTED TOTAL COMPANY REPORTED COSTS AND EXPENSES (1) ($ in millions) (Favorable)/Unfavorable First-Quarter 2018 2017 % Change Total Oper. Cost of Sales (1) $ 2,563 $ 2,468 4% (6%) Percent of Revenues 19.9 % 19.3 % N/A N/A SI&A Expenses (1) 3,412 3,315 3% — R&D Expenses (1) 1,743 1,716 2% 1% Total $ 7,718 $ 7,498 3% (2%) Other (Income)/Deductions––net (1) ($178 ) $ 60 * * Effective Tax Rate on Reported Income (1),(6) 13.5 % 20.8 % * Indicates calculation not meaningful or result is equal to or greater than 100%. Pfizer recorded other income––net (1) in first-quarter 2018 compared with other deductions––net (1) in first-quarter 2017 primarily due to: higher income from collaborations, out-licensing arrangements and sale of compound/product rights; and unrealized net gains on equity securities, reflecting the adoption of a new accounting standard in first-quarter 2018. Prior to the adoption of the new standard, net unrealized gains and losses on virtually all readily tradeable equity securities were reported in Accumulated other comprehensive income. Pfizer’s effective tax rate on Reported income (1) for first-quarter 2018 was favorably impacted by the December 2017 enactment of the Tax Cuts and Jobs Act (TCJA) (6) . Adjusted (2) Income Statement Highlights SELECTED TOTAL COMPANY ADJUSTED COSTS AND EXPENSES (2) ($ in millions) (Favorable)/Unfavorable First-Quarter 2018 2017 % Change Total Oper. Adjusted Cost of Sales (2) $ 2,536 $ 2,432 4% (6%) Percent of Revenues 19.7 % 19.0 % N/A N/A Adjusted SI&A Expenses (2) 3,286 3,295 — (3%) Adjusted R&D Expenses (2) 1,739 1,713 1% 1% Total $ 7,561 $ 7,440 2% (3%) Adjusted Other (Income)/Deductions––net (2) ($322 ) ($100 ) * * Effective Tax Rate on Adjusted Income (2),(6) 16.4 % 22.3 % * Indicates calculation not meaningful or result is equal to or greater than 100%. Pfizer’s effective tax rate on Adjusted income (2) for first-quarter 2018 was favorably impacted by the aforementioned December 2017 enactment of the TCJA (6) . First-quarter 2018 diluted weighted-average shares outstanding used to calculate Reported (1) and Adjusted (2) diluted EPS declined by 35 million shares compared to the prior-year quarter due to Pfizer’s ongoing share repurchase program, reflecting the impact of the $5 billion accelerated share repurchase agreement executed in February 2017 and completed in May 2017 and, to a lesser extent, share repurchases during first-quarter 2018, partially offset by dilution related to share-based employee compensation programs. A full reconciliation of Reported (1) to Adjusted (2) financial measures and associated footnotes can be found starting on page 18 of the press release located at the hyperlink below. RECENT NOTABLE DEVELOPMENTS (Since January 30, 2018) Product Developments Bavencio (avelumab) -- In February 2018, Merck KGaA, Darmstadt, Germany, which operates its biopharmaceutical business as EMD Serono in the U.S. and Canada (Merck KGaA), and Pfizer announced results from the Phase 3 JAVELIN Lung 200 trial comparing avelumab to docetaxel in patients with unresectable, recurrent or metastatic non-small cell lung cancer (NSCLC) whose disease progressed after treatment with a platinum-containing doublet therapy. While the trial did not meet its pre-specified endpoint of improving overall survival (OS) in patients with programmed death ligand-1-positive (PD-L1+) (1% or higher) tumors, the proportion of patients in the chemotherapy arm crossing over to immune checkpoint inhibitors outside the study was higher than previously reported in post-platinum immunotherapy clinical trials, which may have confounded this trial outcome (percentage of patients receiving subsequent checkpoint inhibitor therapy: docetaxel arm 26.4%; avelumab arm 5.7%). Improvements in OS versus the control arm were observed in the moderate-to-high PD-L1+ expression (50% or greater, which represented approximately 40% of the study population) and high PD-L1+ expression (PD-L1+ expression 80% or greater, which represented approximately 30% of the study population) population subsets. The safety profile for avelumab in this trial was consistent with that observed in the overall JAVELIN clinical development program; no new safety signals were identified. Bosulif (bosutinib) (7) -- In April 2018, Pfizer announced that the European Commission (EC) approved an indication extension for Bosulif for the treatment of adults with newly diagnosed chronic phase Philadelphia chromosome-positive chronic myelogenous leukemia (Ph+ CML). Bosulif previously received conditional marketing authorization from the EC in March 2013 for the treatment of adult patients with chronic phase, accelerated phase and blast phase Ph+ CML previously treated with one or more tyrosine kinase inhibitors (TKIs) and for whom imatinib, nilotinib and dasatinib are not considered appropriate treatment options. Chantix/Champix (varenicline) -- In March 2018, Pfizer announced results from a Phase 4 study evaluating the efficacy and safety of Chantix/Champix for smoking cessation in nicotine dependent adolescents 12-19 years of age. The study did not meet its primary endpoint of the four-week continuous abstinence rate at weeks 9 through 12 for Chantix/Champix compared to placebo. The study is a regulatory post-marketing commitment for Chantix/Champix in the U.S. and the European Union (EU) for adolescents 12-16 years and 12-17 years of age, respectively. As part of planned regulatory interactions in the U.S. and EU, these data will be submitted to the U.S. Food and Drug Administration (FDA) for pediatric exclusivity determination. Inlyta (axitinib) -- In April 2018, Pfizer announced that the independent Data Monitoring Committee for the Phase 3 ATLAS trial evaluating Inlyta as adjuvant therapy for patients at high risk of recurrent renal cell carcinoma (RCC) after nephrectomy recommended stopping the trial at a planned interim analysis due to futility. The recommendation was based on the study failing to demonstrate a clear improvement in the primary endpoint of extending disease-free survival for patients treated with Inlyta compared with patients treated with placebo. No new safety signals were observed, and the safety profile was consistent with the known profile of Inlyta in advanced RCC. Mylotarg (gemtuzumab ozogamicin) -- In April 2018, Pfizer announced that the EC approved Mylotarg in combination with daunorubicin and cytarabine for the treatment of patients age 15 years and above with previously untreated, de novo, CD33-positive acute myeloid leukemia, except acute promyelocytic leukemia. Steglatro (ertugliflozin), Steglujan (ertugliflozin and sitagliptin) and Segluromet (ertugliflozin and metformin hydrochloride) -- In March 2018, the EC approved the oral sodium-glucose cotransporter 2 (SGLT2) inhibitor Steglatro (ertugliflozin) and the two fixed-dose combinations Steglujan (ertugliflozin and sitagliptin) and Segluromet (ertugliflozin and metformin hydrochloride) for use in adults aged 18 years and older with type 2 diabetes mellitus as an adjunct to diet and exercise to improve glycemic control. These products will be exclusively promoted by Merck, known as MSD outside the U.S. and Canada, in the EU. Sutent (sunitinib malate) -- In February 2018, Pfizer announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended against expanding use of Sutent to include the adjuvant treatment of adult patients at a high risk of recurrent RCC following nephrectomy. The CHMP’s recommendation is not binding but will now be taken into consideration by the EC. There is currently no approved adjuvant treatment option available for patients with non-metastatic RCC at high risk for recurrence in the EU. Trumenba (Meningococcal Serogroup B Bivalent Recombinant Lipoprotein vaccine) -- In April 2018, Pfizer announced that Trumenba received Breakthrough Therapy designation from the FDA for active immunization to prevent invasive disease caused by Neisseria meningitidis group B (MenB) in children ages 1 through 9 years. This is the first Breakthrough Therapy designation for a MenB vaccine to help protect children as young as 1 year of age. Trumenba previously received Breakthrough Therapy designation in 2014 for the prevention of MenB in adolescents and young adults ages 10 through 25 years, and later the same year received FDA approval as the first MenB vaccine approved in the U.S. Vyndaqel (tafamidis) -- In March 2018, Pfizer announced that the Tafamidis Phase 3 Transthyretin Cardiomyopathy (ATTR-ACT) study evaluating tafamidis for the treatment of transthyretin cardiomyopathy (TTR-CM) met its primary endpoint, demonstrating a statistically significant reduction in the combination of all-cause mortality and frequency of cardiovascular-related hospitalizations compared to placebo at 30 months. The preliminary safety data showed that tafamidis was generally well tolerated in this population and no new safety signals were identified. Vyndaqel is approved in 40 countries for the treatment of transthyretin amyloid polyneuropathy (TTR-FAP) in adult patients with early-stage symptomatic polyneuropathy to delay peripheral neurologic impairment. Tafamidis is an investigational treatment for TTR-CM and is not approved for this indication. Xeljanz (tofacitinib) In April 2018, the CHMP of the EMA adopted a positive opinion recommending a change to the terms of the marketing authorization for Xeljanz to include Xeljanz in combination with methotrexate for the treatment of active psoriatic arthritis in adult patients who have had an inadequate response or who have been intolerant to a prior disease-modifying antirheumatic drug therapy. The CHMP’s opinion will now be reviewed by the EC, which has the authority to approve medicines for the EU. In March 2018, Pfizer announced a positive outcome from an FDA Gastrointestinal Drugs Advisory Committee (GIDAC) meeting. The GIDAC met to discuss Pfizer’s supplemental New Drug Application (sNDA) for Xeljanz, which is currently under review by the FDA, for the treatment of adult patients with moderately to severely active ulcerative colitis (UC). The role of the GIDAC is to provide recommendations to the FDA; however, the recommendations are not binding. The FDA’s decision on whether or not to approve Xeljanz for UC is expected by the Prescription Drug User Fee Act (PDUFA) date in June 2018. Xtandi (enzalutamide) In March 2018, Pfizer and Astellas Pharma Inc. (Astellas) announced that a sNDA for Xtandi was accepted for filing and granted Priority Review designation by the FDA. If approved, the sNDA would expand the indication of Xtandi to include men with non-metastatic (M0) Castration-Resistant Prostate Cancer (CRPC), based on data from the Phase 3 PROSPER trial. Xtandi is currently indicated for the treatment of patients with metastatic CRPC. The PDUFA goal date assigned by the FDA is in July 2018. In addition, the EMA validated the Type II Variation for Xtandi seeking to expand the current indication to the same patient population. In February 2018, Pfizer and Astellas announced results from the Phase 3 PROSPER trial in patients with M0 CRPC. The results show that the use of Xtandi plus androgen deprivation therapy (ADT) significantly reduced the risk of developing metastases or death by 71% compared to ADT alone. The median for the primary endpoint, metastasis-free survival, was 36.6 months for men who received Xtandi compared to 14.7 months with ADT alone. Full results were presented at the 2018 Genitourinary Cancers Symposium in San Francisco. Pipeline Developments A comprehensive update of Pfizer’s development pipeline was published today and is now available at www.pfizer.com/science/drug-product-pipeline . It includes an overview of Pfizer’s research and a list of compounds in development with targeted indication and phase of development, as well as mechanism of action for some candidates in Phase 1 and all candidates from Phase 2 through registration. Dacomitinib (PF-00299804) -- In April 2018, Pfizer announced that the FDA accepted and granted Priority Review for the company’s New Drug Application (NDA) for dacomitinib, a pan-human epidermal growth factor receptor (EGFR) TKI, for the first-line treatment of patients with locally advanced or metastatic NSCLC with EGFR-activating mutations. The PDUFA goal date assigned by the FDA is in September 2018. The EMA has also accepted the Marketing Authorization Application for dacomitinib for the same indication. Lorlatinib (PF-06463922) -- In February 2018, Pfizer announced that the FDA accepted and granted Priority Review for the company’s NDA for lorlatinib, an investigational, anaplastic lymphoma kinase (ALK) TKI for the treatment of patients with ALK-positive metastatic NSCLC, in patients previously treated with one or more ALK TKIs. The PDUFA goal date assigned by the FDA is in August 2018. The EMA and the Japan Pharmaceutical and Medical Devices Agency have also accepted marketing applications for the use of lorlatinib. PF-04965842 -- In February 2018, Pfizer announced that its once-daily oral Janus kinase 1 (JAK1) inhibitor PF-04965842 received Breakthrough Therapy designation from the FDA for the treatment of patients with moderate-to-severe atopic dermatitis (AD). The Phase 3 program for PF-04965842 initiated in December 2017 and is the first trial in the JAK1 Atopic Dermatitis Efficacy and Safety (JADE) global development program. PF-05280014 (proposed biosimilar trastuzumab) -- In April 2018, Pfizer announced that it received a Complete Response Letter (CRL) from the FDA in response to the Biologics License Application for the company’s proposed trastuzumab biosimilar. In the CRL, the FDA highlighted the need for additional technical information. The additional requested information does not relate to safety or clinical data submitted in the application. Pfizer is working closely with the FDA to address the contents of the letter and remains committed to bringing this important medicine to patients in the U.S. PF-06939926 -- In April 2018, Pfizer announced that a Phase 1b clinical trial for its mini-dystrophin gene therapy candidate, PF-06939926, in boys with Duchenne muscular dystrophy (DMD) was initiated. The first boy received an infusion of the mini-dystrophin gene on March 22 nd , administered under the supervision of principal investigator, Edward Smith, MD, Associate Professor of Pediatrics and Neurology at Duke University Medical Center. Screening and enrollment of patients is expected to continue at up to four clinical research sites in the U.S. Early data from this trial are expected in the first half of 2019, once the first patient has been evaluated for one full year post-treatment. The multi-center, open-label, non-randomized, ascending dose study of a single intravenous infusion of PF-06939926 will enroll approximately 12 ambulatory boys aged 5 to 12 years with DMD. In addition to evaluating safety and tolerability, the study will evaluate measurements of dystrophin expression and distribution, as well as assessments of muscle strength, quality and function. As part of the screening process, potential candidates for treatment will be tested to confirm a negative result for antibodies against the adeno-associated virus serotype 9 (AAV9) capsid and for a T-cell (immune) response to dystrophin. Corporate Developments In April 2018, Pfizer and Allogene Therapeutics, Inc. (Allogene) announced that the two companies entered into an asset contribution agreement for Pfizer’s portfolio of assets related to allogeneic chimeric antigen receptor T cell (CAR T) therapy, an investigational immune cell therapy approach to treating cancer. Allogene is co-founded and led by former executives of Kite Pharma. Pfizer views this agreement as an attractive opportunity to support the continued development of allogeneic CAR T therapy in a highly focused and skilled manner. Pfizer will continue to participate financially in the development of the CAR T portfolio through a 25% ownership stake in Allogene. Separately, Pfizer maintains its approximate 8% ownership stake in Cellectis through an equity agreement entered into in 2014 by which Pfizer obtained exclusive rights to pursue the development and commercialization of certain Cellectis CAR T therapies. These CAR T therapy development programs obtained from Cellectis comprise the assets contributed to Allogene. On March 12, 2018, Pfizer entered into an accelerated share repurchase agreement with Citibank N.A. (Citibank) to repurchase $4.0 billion of Pfizer’s common stock. Pursuant to the terms of the agreement, on March 14, 2018, Pfizer paid $4.0 billion to Citibank and received an initial delivery of approximately 87 million shares of Pfizer common stock from Citibank. At settlement of the agreement, which is expected to occur during or prior to the third quarter of 2018, Citibank may be required to deliver additional shares of common stock to Pfizer, or, under certain circumstances, Pfizer may be required to deliver shares of its common stock or may elect to make a cash payment to Citibank, with the number of shares to be delivered or the amount of such payment based on the volume-weighted average price of Pfizer’s common stock during the term of the transaction. Please find Pfizer’s press release and associated financial tables, including reconciliations of certain GAAP reported to non-GAAP adjusted information, at the following hyperlink: https://s21.q4cdn.com/317678438/files/doc_financials/Quarterly/2018/q1/Q1-2018-PFE-Earnings-Release.pdf (Note: If clicking on the above link does not open up a new web page, you may need to cut and paste the above URL into your browser's address bar.) For additional details, see the associated financial schedules and product revenue tables attached to the press release located at the hyperlink referred to above and the attached disclosure notice. (1) Revenues is defined as revenues in accordance with U.S. generally accepted accounting principles (GAAP). Reported net income is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP. Reported diluted earnings per share (EPS) is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP. (2) Adjusted income and its components and Adjusted diluted EPS are defined as reported U.S. GAAP net income (1) and its components and reported diluted EPS (1) excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items (some of which may recur, such as restructuring or legal charges, but which management does not believe are reflective of ongoing core operations). Adjusted cost of sales, Adjusted selling, informational and administrative (SI&A) expenses, Adjusted research and development (R&D) expenses and Adjusted other (income)/deductions are income statement line items prepared on the same basis as, and therefore components of, the overall Adjusted income measure. As described in the Financial Review––Non-GAAP Financial Measure (Adjusted Income) section of Pfizer’s 2017 Financial Report, which was filed as Exhibit 13 to Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, management uses Adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Because Adjusted income is an important internal measurement for Pfizer, management believes that investors’ understanding of our performance is enhanced by disclosing this performance measure. Pfizer reports Adjusted income, certain components of Adjusted income, and Adjusted diluted EPS in order to portray the results of the company’s major operations––the discovery, development, manufacture, marketing and sale of prescription medicines, vaccines and consumer healthcare (OTC) products––prior to considering certain income statement elements. See the accompanying reconciliations of certain GAAP Reported to Non-GAAP Adjusted information for the first quarter of 2018 and 2017. The Adjusted income and its components and Adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. (3) Pfizer’s fiscal year-end for international subsidiaries is November 30 while Pfizer’s fiscal year-end for U.S. subsidiaries is December 31. Therefore, Pfizer’s first quarter for U.S. subsidiaries reflect the three months ending on April 1, 2018 and April 2, 2017 while Pfizer’s first quarter for subsidiaries operating outside the U.S. reflect the three months ending on February 25, 2018 and February 26, 2017. (4) References to operational variances in this press release pertain to period-over-period growth rates that exclude the impact of foreign exchange. The operational variances are determined by multiplying or dividing, as appropriate, the current period U.S. dollar results by the current period average foreign exchange rates and then multiplying or dividing, as appropriate, those amounts by the prior-year period average foreign exchange rates. Although exchange rate changes are part of Pfizer’s business, they are not within Pfizer’s control. Exchange rate changes, however, can mask positive or negative trends in the business; therefore, Pfizer believes presenting operational variances provides useful information in evaluating the results of its business. (5) The 2018 financial guidance reflects the following: Pfizer does not provide guidance for GAAP Reported financial measures (other than revenues) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP Reported financial measures on a forward-looking basis because it is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, acquisition-related expenses and potential future asset impairments without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP Reported results for the guidance period. Does not assume the completion of any business development transactions not completed as of April 1, 2018, including any one-time upfront payments associated with such transactions. Guidance for Adjusted other (income)/deductions (2) does not attempt to forecast unrealized net gains or losses on equity securities. Pfizer is unable to predict with reasonable certainty unrealized gains or losses on equity securities in a given period. Net unrealized gains and losses on equity securities are now recorded in Adjusted other (income)/deductions (2) during each quarter, reflecting the adoption of a new accounting standard in the first quarter of 2018. Prior to the adoption of the new standard, net unrealized gains and losses on virtually all readily tradeable equity securities were reported in Accumulated other comprehensive income. Exchange rates assumed are a blend of the actual exchange rates in effect through first-quarter 2018 and mid-April 2018 exchange rates for the remainder of the year. Reflects an anticipated negative revenue impact of $2.0 billion due to recent and expected generic and biosimilar competition for certain products that have recently lost or are anticipated to soon lose patent protection. Assumes no generic competition for Lyrica in the U.S. until June 2019, which is contingent upon a six-month patent-term extension granted by the FDA for pediatric exclusivity, which the company is currently pursuing. Reflects a full year contribution from Consumer Healthcare. Pfizer continues to expect that any decision regarding strategic alternatives for Consumer Healthcare will be made during 2018. Reflects the anticipated favorable impact of $1.3 billion on revenues and $0.09 on Adjusted diluted EPS (2) as a result of favorable changes in foreign exchange rates relative to the U.S. dollar compared to foreign exchange rates from 2017. Guidance for Adjusted diluted EPS (2) assumes diluted weighted-average shares outstanding of approximately 6.0 billion shares, which reflects share repurchases totaling approximately $6.1 billion in 2018. Dilution related to share-based employee compensation programs is expected to offset by approximately half the reduction in shares associated with these share repurchases. (6) Given the significant changes resulting from and complexities associated with the Tax Cuts and Jobs Act (TCJA), the estimated financial impacts associated with the TCJA that were recorded in fourth-quarter 2017 are provisional and subject to further analysis, interpretation and clarification of the TCJA, which could result in changes to these estimates during 2018. (7) Pfizer and Avillion entered into an exclusive collaborative development agreement in 2014 to conduct the BFORE trial, which supported the approval of the indication extension for Bosulif for the treatment of adults with newly diagnosed chronic phase Ph+ CML. Under the terms of the agreement, Avillion operationalized and funded the trial to generate the clinical data used to support this application and other potential regulatory filings for marketing authorization for Bosulif as first-line treatment for patients with chronic phase Ph+ CML. Pfizer retains all rights to commercialize Bosulif globally. DISCLOSURE NOTICE: Except where otherwise noted, the information contained in this earnings release and the related attachments is as of May 1, 2018. We assume no obligation to update any forward-looking statements contained in this earnings release and the related attachments as a result of new information or future events or developments. This earnings release and the related attachments contain forward-looking statements about our anticipated future operating and financial performance, business plans and prospects, in-line products and product candidates, including anticipated regulatory submissions, data read-outs, approvals, performance, timing of exclusivity and potential benefits of Pfizer’s products and product candidates, strategic reviews, capital allocation, business-development plans, the benefits expected from our acquisitions and other business development activities, manufacturing and product supply and plans relating to share repurchases and dividends, among other things, that involve substantial risks and uncertainties. You can identify these statements by the fact that they use future dates or use words such as “will,” “may,” “could,” “likely,” “ongoing,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “assume,” “target,” “forecast,” “guidance,” “goal,” “objective,” “aim” and other words and terms of similar meaning. Among the factors that could cause actual past results and future plans and projected future results are the following: the outcome of research and development activities, including, without limitation, the ability to meet anticipated pre-clinical and clinical trial commencement and completion dates, regulatory submission and approval dates, and launch dates for product candidates, as well as the possibility of unfavorable pre-clinical and clinical trial results, including unfavorable new clinical data and additional analyses of existing clinical data; decisions by regulatory authorities regarding whether and when to approve our drug applications, which will depend on the assessment by such regulatory authorities of the benefit-risk profile suggested by the totality of the efficacy and safety information submitted; decisions by regulatory authorities regarding labeling, ingredients and other matters that could affect the availability or commercial potential of our products; and uncertainties regarding our ability to address the comments received by us from regulatory authorities such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency with respect to certain of our drug applications to the satisfaction of those authorities; the speed with which regulatory authorizations, pricing approvals and product launches may be achieved; the outcome of post-approval clinical trials, which could result in the loss of marketing approval for a product or changes in the labeling for, and/or increased or new concerns about the safety or efficacy of, a product that could affect its availability or commercial potential; risks associated with preliminary, early stage or interim data, including the risk that final results of studies for which preliminary, early stage or interim data have been provided and/or additional clinical trials may be different from (including less favorable than) the preliminary, early stage or interim data results and may not support further clinical development of the applicable product candidate or indication; the success of external business-development activities, including the ability to satisfy the conditions to closing of announced transactions in the anticipated time frame or at all or to realize the anticipated benefits of such transactions; competitive developments, including the impact on our competitive position of new product entrants, in-line branded products, generic products, private label products, biosimilars and product candidates that treat diseases and conditions similar to those treated by our in-line drugs and drug candidates; the implementation by the FDA and regulatory authorities in certain other countries of an abbreviated legal pathway to approve biosimilar products, which could subject our biologic products to competition from biosimilar products, with attendant competitive pressures, after the expiration of any applicable exclusivity period and patent rights; risks related to our ability to develop and launch biosimilars, including risks associated with “at risk” launches, defined as the marketing of a product by Pfizer before the final resolution of litigation (including any appeals) brought by a third party alleging that such marketing would infringe one or more patents owned or controlled by the third party; the ability to meet competition from generic, branded and biosimilar products after the loss or expiration of patent protection for our products or competitor products; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing, including delays caused by natural events, such as hurricanes; supply shortages at our facilities; and legal or regulatory actions, such as warning letters, suspension of manufacturing, seizure of product, debarment, injunctions or voluntary recall of a product; trade buying patterns; the impact of existing and future legislation and regulatory provisions on product exclusivity; trends toward managed care and healthcare cost containment, and our ability to obtain or maintain timely or adequate pricing or formulary placement for our products; the impact of any significant spending reductions or cost controls affecting Medicare, Medicaid or other publicly funded or subsidized health programs or changes in the tax treatment of employer-sponsored health insurance that may be implemented; the impact of any U.S. healthcare reform or legislation, including any replacement, repeal, modification or invalidation of some or all of the provisions of the U.S. Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act; U.S. federal or state legislation or regulatory action and/or policy efforts affecting, among other things, pharmaceutical product pricing, reimbursement or access, including under Medicaid, Medicare and other publicly funded or subsidized health programs; patient out-of-pocket costs for medicines, manufacturer prices and/or price increases that could result in new mandatory rebates and discounts or other pricing restrictions; the importation of prescription drugs from outside the U.S. at prices that are regulated by governments of various foreign countries; restrictions on direct-to-consumer advertising; limitations on interactions with healthcare professionals; or the use of comparative effectiveness methodologies that could be implemented in a manner that focuses primarily on the cost differences and minimizes the therapeutic differences among pharmaceutical products and restricts access to innovative medicines; as well as pricing pressures for our products as a result of highly competitive insurance markets; legislation or regulatory action in markets outside the U.S. affecting pharmaceutical product pricing, reimbursement or access, including, in particular, continued government-mandated reductions in prices and access restrictions for certain biopharmaceutical products to control costs in those markets; the exposure of our operations outside the U.S. to possible capital and exchange controls, expropriation and other restrictive government actions, changes in intellectual property legal protections and remedies, as well as political unrest, unstable governments and legal systems and inter-governmental disputes; contingencies related to actual or alleged environmental contamination; claims and concerns that may arise regarding the safety or efficacy of in-line products and product candidates; any significant breakdown, infiltration or interruption of our information technology systems and infrastructure; legal defense costs, insurance expenses and settlement costs; the risk of an adverse decision or settlement and the adequacy of reserves related to legal proceedings, including patent litigation, product liability and other product-related litigation, including personal injury, consumer, off-label promotion, securities, antitrust and breach of contract claims, commercial, environmental, government investigations, employment and other legal proceedings, including various means for resolving asbestos litigation, as well as tax issues; the risk that our currently pending or future patent applications may not result in issued patents, or be granted on a timely basis, or any patent-term extensions that we seek may not be granted on a timely basis, if at all; our ability to protect our patents and other intellectual property, both domestically and internationally; interest rate and foreign currency exchange rate fluctuations, including the impact of possible currency devaluations in countries experiencing high inflation rates; governmental laws and regulations affecting domestic and foreign operations, including, without limitation, tax obligations and changes affecting the tax treatment by the U.S. of income earned outside the U.S. that may result from pending and possible future proposals, including further clarifications and/or interpretations of the recently passed Tax Cuts and Jobs Act; any significant issues involving our largest wholesale distributors, which account for a substantial portion of our revenues; the possible impact of the increased presence of counterfeit medicines in the pharmaceutical supply chain on our revenues and on patient confidence in the integrity of our medicines; the end result of any negotiations between the U.K. government and the EU regarding the terms of the U.K.’s exit from the EU, which could have implications on our research, commercial and general business operations in the U.K. and the EU, including the approval and supply of our products; any significant issues that may arise related to the outsourcing of certain operational and staff functions to third parties, including with regard to quality, timeliness and compliance with applicable legal requirements and industry standards; any significant issues that may arise related to our joint ventures and other third-party business arrangements; changes in U.S. generally accepted accounting principles; further clarifications and/or changes in interpretations of existing laws and regulations, or changes in laws and regulations, in the U.S. and other countries; uncertainties related to general economic, political, business, industry, regulatory and market conditions including, without limitation, uncertainties related to the impact on Pfizer, our customers, suppliers and lenders and counterparties to our foreign-exchange and interest-rate agreements of challenging global economic conditions and recent and possible future changes in global financial markets; the related risk that our allowance for doubtful accounts may not be adequate; and the risks related to volatility of our income due to changes in the market value of equity investments; any changes in business, political and economic conditions due to actual or threatened terrorist activity in the U.S. and other parts of the world, and related U.S. military action overseas; growth in costs and expenses; changes in our product, segment and geographic mix; the impact of purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items; the impact of acquisitions, divestitures, restructurings, internal reorganizations, product recalls, withdrawals and other unusual items, including our ability to realize the projected benefits of our cost-reduction and productivity initiatives and of the internal separation of our commercial operations into our current operating structure; the risk of an impairment charge related to our intangible assets, goodwill or equity-method investments; risks related to internal control over financial reporting; risks and uncertainties related to our acquisitions of Hospira, Inc. (Hospira), Anacor Pharmaceuticals, Inc. (Anacor), Medivation, Inc. (Medivation) and AstraZeneca’s small molecule anti-infectives business, including, among other things, the ability to realize the anticipated benefits of those acquisitions, including the possibility that expected cost savings related to the acquisition of Hospira and accretion related to the acquisitions of Hospira, Anacor and Medivation will not be realized or will not be realized within the expected time frame; the risk that the businesses will not be integrated successfully; disruption from the transactions making it more difficult to maintain business and operational relationships; risks related to our ability to grow revenues for Xtandi and expand Xtandi into the non-metastatic castration-resistant prostate cancer setting; significant transaction costs; and unknown liabilities; and risks and uncertainties related to our evaluation of strategic alternatives for our Consumer Healthcare business, including, among other things, the ability to realize the anticipated benefits of any strategic alternatives we may pursue for our Consumer Healthcare business, the potential for disruption to our business and diversion of management’s attention from other aspects of our business, the possibility that such strategic alternatives will not be completed on terms that are advantageous to Pfizer, the possibility that we may be unable to realize a higher value for Pfizer Consumer Healthcare through strategic alternatives and unknown liabilities. We cannot guarantee that any forward-looking statement will be realized. Achievement of anticipated results is subject to substantial risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements, and are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in our subsequent reports on Form 10-Q, in each case including in the sections thereof captioned “Forward-Looking Information and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” and in our subsequent reports on Form 8-K. The operating segment information provided in this earnings release and the related attachments does not purport to represent the revenues, costs and income from continuing operations before provision for taxes on income that each of our operating segments would have recorded had each segment operated as a standalone company during the periods presented. This earnings release may include discussion of certain clinical studies relating to various in-line products and/or product candidates. These studies typically are part of a larger body of clinical data relating to such products or product candidates, and the discussion herein should be considered in the context of the larger body of data. In addition, clinical trial data are subject to differing interpretations, and, even when we view data as sufficient to support the safety and/or effectiveness of a product candidate or a new indication for an in-line product, regulatory authorities may not share our views and may require additional data or may deny approval altogether. View source version on businesswire.com : https://www.businesswire.com/news/home/20180501005439/en/ Pfizer Inc. Media Joan Campion, 212-733-2798 or Investors Chuck Triano, 212-733-3901 Ryan Crowe, 212-733-8160 Bryan Dunn, 212-733-8917 Source: Pfizer Inc.

PFIZER REPORTS FIRST-QUARTER 2018 RESULTS

May 23 (Reuters) - Russian mobile phone operator MTS says: * Q1 2018 net profit at 15.4 billion roubles ($250 million), taking into account the effect from the adoption of new IFRS standards, vs. 12.5 billion roubles in Q1 2017 * Q1 revenue at 107.9 billion roubles, up 3.1 percent year on year * Q1 adjusted OIBDA at 52.1 billion roubles, up 24.6 percent year on year * Q1 adjusted OIBDA margin at 48.3 percent vs. 40.0 percent in Q1 2017 * Free cash flow at 13.9 billion roubles, down 39.1 percent year on year * MTS believes that compliance with the data storage law could result in an additional investment of 60 billion roubles over five years Source text for Eikon: Further company coverage: ($1 = 61.6795 roubles) (Reporting by Moscow Newsroom)

BRIEF-Russia's MTS says Q1 net profit up 23.6 pct y/y

LAS VEGAS, May 01, 2018 (GLOBE NEWSWIRE) -- Red Rock Resorts, Inc. ("Red Rock Resorts," "we" or the "Company") (NASDAQ:RRR) today reported financial results ended March 31, 2018. The Company has adopted FASB’s new revenue recognition standard (“ASC 606”), effective January 1, 2018. Certain prior period amounts have been adjusted to reflect the full retrospective adoption of ASC 606, with no material impact on operating income, net income or Adjusted EBITDA (1) . Net revenues were $421.0 million of 2018, a decrease of 1.1%, or $4.7 million, from $425.7 million for the same period of 2017. The decrease in net revenues was primarily due to ongoing construction disruption at Palace Station Hotel & Casino (“Palace Station”) and the Palms Casino Resort (the “Palms”) and a decrease in Native American management fees. Net income was $82.1 million of 2018, an increase of $36.7 million from net income of $45.4 million for the same period of 2017. The increase in net income was primarily due to a $13.3 million after-tax gain associated with the extinguishment of a tax receivable liability, as well as a $14.3 million after-tax positive change in the fair value of interest rate swaps. Adjusted EBITDA was $140.1 million of 2018, an increase of 2.9% from $136.2 million in the same period of 2017. The increase was primarily due to an increase in Las Vegas operations, partially offset by a decrease in Native American management fees. Las Vegas Operations Net revenues from Las Vegas operations were $395.2 million of 2018, a 0.2% increase from $394.2 million in the same period of 2017. Adjusted EBITDA from Las Vegas operations was $125.9 million of 2018, a 4.2% increase from $120.9 million in the same period of 2017. The increase was primarily due to an increase in non-disrupted Las Vegas operations, partially offset by substantial construction disruption at Palace Station and the Palms. Native American Management Adjusted EBITDA from Native American operations was $22.1 million of 2018, a 5.2% decrease from $23.3 million in the same period of 2017, due to the expiration of the Gun Lake management agreement in February of 2018. Palace Station and Palms Redevelopment Update The Palace Station redevelopment project remains on schedule and the budget remains unchanged. As of March 31, 2018, the Company has incurred $116 million in costs against that $191 million project. The Palace Station project is expected to be completed in phases by the end of 2018. The Palms redevelopment project remains on schedule and the budget remains unchanged. The final elements of phase one of the project will be open later this month, with components of phase two expected to open through the second quarter of 2019, and phase three of the project expected to open by the fourth quarter of 2019. As of March 31, 2018, the Company has incurred $152 million in costs against that $620 million project. Balance Sheet Highlights The Company’s cash and cash equivalents at March 31, 2018 were $179.2 million and total principal amount of debt outstanding at the end of the first quarter was $2.68 billion. The Company’s debt to Adjusted EBITDA and interest coverage ratios, were 5.0x and 4.6x, respectively. Quarterly Dividend The Company’s Board of Directors has declared a cash dividend of $0.10 per Class A common share for the second quarter of 2018. The dividend will be payable on June 29, 2018 to all stockholders of record as of the close of business on June 15, 2018. Prior to the payment of such dividend, Station Holdco LLC (“Station Holdco”) will make a cash distribution to all unit holders of record, including the Company, of $0.10 per unit for a total distribution of approximately $11.6 million, approximately $6.9 million of which is expected to be distributed to the Company and approximately $4.7 million of which is expected to be distributed to the other unit holders of record of Station Holdco. Conference Call Information The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial results. The conference call will consist of prepared remarks from the Company and will include a question and answer session. Those interested in participating in the call should dial (877) 793-4361, or (615) 247-0185 for international callers, approximately 15 minutes before the call start time. A replay of the call will be available from today through May 8, 2018 at www.redrockresorts.com . A live audio webcast of the call will also be available at www.redrockresorts.com . Presentation of Financial Information (1) Adjusted EBITDA includes net income plus depreciation and amortization, share-based compensation, write-downs and other charges, net, tax receivable agreement liability adjustment, interest expense, net, loss on extinguishment/modification of debt, net, change in fair value of derivative instruments, provision for income tax and other, and excludes Adjusted EBITDA attributable to the noncontrolling interests of MPM. Company Information and Forward Looking Statements Red Rock Resorts owns a majority indirect equity interest in and manages Station Casinos LLC (“Station Casinos”). Station Casinos is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station Casinos’ properties, which are located throughout the Las Vegas valley, are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palms Casino Resort, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station Casinos also owns a 50% interest in Barley’s Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station Casinos is the manager of Graton Resort & Casino in northern California and owns a 50% interest in MPM Enterprises, L.L.C., which managed Gun Lake Casino in southwestern Michigan through February 2018. This press release contains certain with respect to the Company and its subsidiaries which involve risks and uncertainties that cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied herein. Such risks and uncertainties include, but are not limited to the effects of the economy and business conditions on consumer spending and our business; competition, including the risk that new gaming licenses or gaming activities are approved; our substantial outstanding indebtedness and the effect of our significant debt service requirements; our ability to refinance our outstanding indebtedness and obtain necessary capital; the impact of extensive regulation; risks associated with changes to applicable gaming and tax laws; risks associated with development, construction and management of new projects or the redevelopment or expansion of existing facilities; and other risks described in the filings of the Company with the Securities and Exchange Commission. In providing , the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more , no inference should be drawn that it will make additional updates with respect to those other View source version on globenewswire.com : http://globenewswire.com/Search?runSearchId=39933809 CONTACT: Red Rock Resorts Daniel Foley Vice President, Finance & Investor Relations (702) 495-3683 or Lori Nelson Vice President of Corporate Communications (702) 495-4248 Red Rock Resorts, Inc. Condensed Consolidated Statements of Income (amounts in thousands, except per share data) (unaudited) Three Months Ended March 31, 2018 2017 Operating revenues: Casino $ 236,247 $ 223,536 Food and beverage 90,928 98,546 Room 46,630 50,760 Other 22,556 22,669 Management fees 24,678 30,227 Net revenues 421,039 425,738 Operating costs and expenses: Casino 78,958 76,459 Food and beverage 80,109 84,825 Room 20,100 21,762 Other 8,786 9,031 95,109 94,661 Depreciation and amortization 43,164 45,253 Write-downs and other charges, net 3,845 1,054 Tax receivable agreement liability adjustment (16,873 ) — 313,198 333,045 Operating income 107,841 92,693 Earnings from joint ventures 608 415 Operating income and earnings from joint ventures 108,449 93,108 Other (expense) income: Interest expense, net (31,111 ) (34,944 ) Loss on extinguishment/modification of debt, net — (2,019 ) Change in fair value of derivative instruments 15,803 39 Other (155 ) (86 ) (15,463 ) (37,010 ) Income before income tax 92,986 56,098 Provision for income tax (10,856 ) (10,679 ) Net income 82,130 45,419 Less: net income attributable to noncontrolling interests 30,950 25,519 Net income attributable to Red Rock Resorts, Inc. $ 51,180 $ 19,900 Earnings per common share: Earnings per share of Class A common stock, basic $ 0.74 $ 0.30 Earnings per share of Class A common stock, diluted $ 0.65 $ 0.30 Weighted-average common shares outstanding: Basic 68,798 65,692 Diluted 116,947 65,837 Dividends declared per common share $ 0.10 $ 0.10 Red Rock Resorts, Inc. Segment Information and Reconciliation of Net Income to Adjusted EBITDA (amounts in thousands) (unaudited) Three Months Ended March 31, 2018 2017 Net revenues Las Vegas operations $ 395,170 $ 394,244 Native American management 24,505 30,105 Reportable segment net revenues 419,675 424,349 Corporate and other 1,364 1,389 Net revenues $ 421,039 $ 425,738 Net income $ 82,130 $ 45,419 Adjustments Depreciation and amortization 43,164 45,253 Share-based compensation 2,454 1,412 Write-downs and other charges, net 3,845 1,054 Tax receivable agreement liability adjustment (16,873 ) — Interest expense, net 31,111 34,944 Loss on extinguishment/modification of debt, net — 2,019 Change in fair value of derivative instruments (15,803 ) (39 ) Adjusted EBITDA attributable to MPM noncontrolling interest (962 ) (4,638 ) Provision for income tax 10,856 10,679 Other 155 86 Adjusted EBITDA $ 140,077 $ 136,189 Adjusted EBITDA Las Vegas operations $ 125,877 $ 120,857 Native American management 22,094 23,317 Reportable segment Adjusted EBITDA 147,971 144,174 Corporate and other (7,894 ) (7,985 ) Adjusted EBITDA $ 140,077 $ 136,189 Source:Red Rock Resorts, Inc.

Red Rock Resorts Announces First Quarter Results

May 31, 2018 / 6:00 PM / Updated 2 hours ago Spine surgery may not be needed to ease back pain from osteoporosis Lisa Rapaport 4 Min Read (Reuters Health) - Patients with acute pain from osteoporosis damage to the spine don’t experience any more relief from surgery to inject cement into cracked or broken vertebrae than they would with a sham procedure, a recent trial in The Netherlands suggests. All of the patients in the experiment had compression fractures, which can happen when osteoporosis makes bones less dense and more brittle with age. Half of the participants had vertebroplasty, a procedure that uses injected cement to harden and stabilize bones and support the spine, and half of them got sham surgeries where local anesthesia was injected, but no cement. One year later, patients in both groups felt significantly less pain, but those who had vertebroplasty didn’t experience any more pain reduction than people who had sham procedures, the study found. “The majority of fractured spines heal spontaneously in the same way as other bone fractures do and vertebroplasty doesn’t improve this,” said Dr. Evan Davies, author of an editorial accompanying the study and a spine surgeon at the University Hospital Southampton in the UK. Vertebroplasty has been controversial for years because research to date has offered a mixed picture of its safety and effectiveness. Some studies found it improved pain relief, while others didn’t, and it has been linked to rare but serious side effects like paralysis and potentially fatal blood clots in the lungs. Compression fractures can be treated with other approaches, including painkillers, bed rest or a back brace. Untreated, these fractures can lead over time to deformities in the spine, mobility restrictions, and diminished height and make it difficult for people to sit, eat and sleep. The current study involved 180 patients who were at least 50 years old and complained of pain related to compression fractures that had happened within the previous nine weeks. They were randomly assigned to receive vertebroplasty or sham procedures, and patients weren’t told which group they joined. In both groups, patients could hear and smell bone cement being mixed in the operating room and feel needle incisions in their back when anesthesia was administered. While both groups reported a meaningful reduction in pain, the difference between them was too small to rule out the possibility that it was due to chance. With vertebroplasty, however, fewer patients had persistent pain or secondary fractures during follow-up, said lead study author Dr. Cristina Firanescu of Elisabeth-Tweesteden Hospital in Tilburg, The Netherlands. This suggests there might be a subset of patients who might potentially benefit from vertebroplasty even if it’s not an effective early treatment for all patients with compression fractures, Firanescu said by email. One limitation of the study is that it lacked a control group of patients who received non-surgical treatments like painkillers, back braces or bed rest, researchers note in The BMJ. Another drawback is that all of the patients had recent fractures, making it unclear if results would be similar for people who had chronic pain many months after fractures developed. It’s also possible that some patients in the study experienced chronic back pain unrelated to compression fractures and caused instead by damaged discs or other issues. Still, the results suggest that patients should not consider vertebroplasty for fractures that happened only a month or two ago, Davies said by email. “You don’t need a vertebroplasty under nine weeks following onset of pain, because for most people the pain just gets better,” Davies said. “If the pain doesn’t improve and imaging suggests the fracture hasn’t healed then it may be appropriate.” SOURCE: bit.ly/2IYuYaZ and bit.ly/2skZ3aA The BMJ, online May 9, 2018.

Spine surgery may not be needed to ease back pain from osteoporosis

ZURICH--(BUSINESS WIRE)-- Regulatory News: LafargeHolcim (Paris:LHN) The shareholders of LafargeHolcim who attended today’s Annual General Meeting approved all the motions proposed by the company’s Board of Directors. 743 shareholders representing a total of 64.17 percent of the company’s share capital attended the Annual General Meeting. Shareholders approved the annual report and annual financial statements of the Group and of LafargeHolcim Ltd. They also approved the compensation report in an advisory vote. In two separate binding votes shareholders approved the maximum overall amount of compensation paid to members of the Board for the period between the 2018 and 2019 Annual General Meetings, and the maximum overall amount of compensation paid to members of the Executive Committee for the 2019 financial year. Finally, shareholders approved the proposed distribution of a dividend of CHF 2.00 per registered share from capital contribution reserves. This dividend will be paid on May 16, 2018. The Annual General Meeting confirmed Beat Hess as Chairman of the company’s Board of Directors by a large majority. All other existing members of the Board were confirmed in office by clear majorities with the exception of Thomas Schmidheiny and Bertrand Collomb who, after more than 40 years in various leadership positions in the Group and many years’ service on the Board, did not stand for re-election. The members of the Board of Directors are now as follows: Beat Hess (Chairman), Paul Desmarais Jr., Oscar Fanjul, Patrick Kron, Gérard Lamarche, Adrian Loader, Jürg Oleas, Nassef Sawiris, Hanne Birgitte Breinbjerg Sørensen and Dieter Spälti. As previously announced, the Board of Directors has appointed Thomas Schmidheiny as Honorary Chairman in recognition of his exceptional contribution to LafargeHolcim. All existing members of the Nomination, Compensation & Governance Committee were confirmed by shareholders. This committee currently has the following members: Paul Desmarais Jr., Oscar Fanjul, Adrian Loader, Nassef Sawiris, Hanne Birgitte Breinbjerg Sørensen. In order to make corporate governance even stronger, the Board of Directors has decided that from now on the Board committees shall not be chaired by representatives of large shareholders. Consequently, Gérard Lamarche, previously Chairman of the Finance & Audit Committee, and Nassef Sawiris, previously Chairman of the Nomination, Compensation & Governance Committee, have stepped down from these positions. However, they remain members of these committees, which are now chaired by Patrick Kron (Finance & Audit Committee) and Oscar Fanjul (Nomination, Compensation & Governance Committee). About LafargeHolcim LafargeHolcim is the leading global building materials and solutions company serving masons, builders, architects and engineers all over the world. Group operations produce cement, aggregates and ready-mix concrete which are used in building projects ranging from affordable housing and small, local projects to the biggest, most technically and architecturally challenging infrastructure projects. As urbanization increasingly impacts people and the planet, the Group provides innovative products and building solutions with a clear commitment to social and environmental sustainability. With leading positions in all regions, LafargeHolcim employs approximately 80,000 employees in around 80 countries and has a portfolio that is equally balanced between developing and mature markets. For more information please visit www.lafargeholcim.com Follow us on Twitter @LafargeHolcim View source version on businesswire.com : https://www.businesswire.com/news/home/20180508005985/en/ LafargeHolcim Media Relations: media@lafargeholcim.com Zurich: +41 (0) 58 858 87 10 Paris: +33 (0) 1 44 34 11 70 or Investor Relations: investor.relations@lafargeholcim.com Zurich: +41 (0) 58 858 87 87 Source: LafargeHolcim

LafargeHolcim Annual General Meeting 2018: Shareholders Approve All Board Proposals

May 15, 2018 / 4:21 AM / Updated 12 hours ago Cipriani agrees Gloucester move Reuters Staff 2 Min Read (Reuters) - Flyhalf Danny Cipriani says he is making the most exciting move of his career after agreeing to join Gloucester from Premiership rivals Wasps for next season. Rugby Union - Premiership - Wasps v Northampton Saints - Ricoh Arena, Coventry, Britain - April 29, 2018 Wasps' Danny Cipriani waves to the fans after the match Action Images/Andrew Boyers The 30-year-old has played a key role in Wasps’ qualification for the Premiership semi-finals and his form has led to a recall to the England squad after a three-year absence. Cipriani will look to stake a claim for a place in England’s 2019 World Cup squad on next month’s tour of South Africa. "Having spoken in depth with (Gloucester director of rugby) David Humphreys and (head coach) Johan Ackermann, the future they have planned for the club is enticing and one that I very much want to be part of," Cipriani told Gloucester's website www.gloucesterrugby.co.uk . “It’s the most exciting move of my career to date.” Cipriani, who has won 14 caps for England, will hope to end his time at Wasps on a high by helping them reach the Premiership final. They face Saracens in Saturday’s semis. Reporting by Aditi Prakash in Bengaluru; Editing by Peter Rutherford

Rugby-Cipriani agrees Gloucester move

On Nov. 26, 1777, Gen. Henry Knox wrote his friend and superior officer George Washington, then commander-in-chief of the Continental Army, that “the People of America look up to you as their Father, and into your hands they entrust their all.” From Knox’s private praise it was a short step to the 1789 newspaper encomiums that praised the newly inaugurated president Washington as “Father of His Country.” And so history has enshrined George Washington. American Indians, however, saw Washington in a different light. They knew...

‘The Indian World of George Washington’ and ‘Young Washington’ Review: Rivals and Partners in a New World

That headline arrives via email from a money manager in northern New Jersey. The Garden State already has the third largest overall tax burden and the country’s highest property tax collections per capita. Now that federal reform has limited the deduction for state and local taxes, the price of government is surging again among high-income earners in New Jersey and other blue states. Taxpayers are searching for the exits. In the financial industry of course it’s not just the clients who are looking for greener pastures. One...

‘My Clients Are Fleeing NJ Like It’s on Fire’ - WSJ

Emerging markets stocks have been under pressure as the U.S. dollar has gained ground, and one portfolio manager is expecting more pain for the group. Last week, U.S.-based emerging market equity funds posted their first weekly outflows of the year, according to Reuters, citing Lipper data . The EEM emerging markets ETF fell nearly 2 percent in that time, and 3 percent in the last month. Chad Morganlander, portfolio manager at Washington Crossing Advisors, explained to CNBC's " Trading Nation " his reasons for selling emerging market stocks. Here's why: • Emerging markets logged a banner year in 2017, with the EEM rallying nearly 35 percent for its best year since 2009, as global growth ramped up and the U.S. dollar fell substantially. This year won't be so rosy. • The U.S. dollar just posted three straight weeks of gains, depressing emerging market stocks in that time, which will likely continue as a headwind going forward. • The eventual deceleration in China's credit growth, too, will pose a headwind. At this point, however, the U.S. trade policy with China and recent turmoil in the space is not a major factor in emerging markets' performance. Bottom line: Emerging markets have weakened recently, and will likely see further downside from here, according to Chad Morganlander. Vote Vote to see results Total Votes: Not a Scientific Survey. Results may not total 100% due to rounding.

Investors are fleeing emerging markets, and more pain could be ahead

May 3, 2018 / 3:20 PM / Updated 8 minutes ago UPDATE 1-Czech central bank may raise rates once more this year -governor Reuters Staff * CNB keeps main rate at 0.75 pct, as expected * Board voted 6:1 to hold rates, dissenter wanted a 25 bps hike * Governor Rusnok says one more hike this year is possible * CNB raises GDP forecast, cuts inflation outlook * Board views risks to forecast as balanced * For the table of economic outlook click on (Adds governor, analyst quotes, fresh forecast) By Robert Muller PRAGUE, May 3 (Reuters) - The Czech National Bank signalled on Thursday that its next rate hike might not come until near the end of this year, later than most economists had predicted. In line with expectations, the bank kept its main interest rate unchanged on Thursday, leaving its two-week repo rate at 0.75 percent, the second pause in a row after raising the rate in three steps since last August. Policymakers voted 6-1, with one dissenter urging a hike now. Governor Jiri Rusnok said on Thursday that while a quicker hike could not be excluded, the crown’s slow appreciation was not making the bank nervous at the moment. “One hike sometime at the end of this year or, say, in the last quarter of this year can be taken into consideration,” Rusnok said while presenting the forecasts. “An earlier hike cannot be ruled out if the situation would be significantly different from the current assumptions.” Nearly all analysts in a Reuters poll had expected the bank to stay on hold on Thursday, and a majority expected the next tightening in the third quarter, sooner than Rusnok suggested. The Czechs’ tightening cycle follows nearly five years of ultra-loose policy of rates near zero combined with interventions against the currency. A wild card has been the crown, which has been trading weaker than the bank’s outlook, possibly creating space for an earlier rate hike if that trend continued. Some analysts said after the meeting that they still expected the central bank would be forced to move sooner as the crown will not appreciate as fast as the bank forecasts. “We still assume that the CNB will have room for two hikes in the second half of the year, because the crown won’t deliver as strong tightening of monetary conditions as the current CNB forecast projects,” said Jakub Seidler, ING’s chief economist in Prague. The central bank forecasts the crown reaching a quarterly average of 24.60 to the euro by the fourth quarter this year, well above Thursday’s rate of 25.51, up 0.2 percent on the day. Its new outlook sees faster growth in 2018 and 2019, with the economy seen expanding by 3.9 percent this year, down from 4.6 percent in 2017. (Reporting by Jan Lopatka and Robert Muller Editing by Jason Hovet and Peter Graff)

UPDATE 1-Czech central bank may raise rates once more this year -governor

(Adds detail) LONDON, May 10 (Reuters) - Vitol’s future growth will increasingly be driven by gas and liquefied natural gas (LNG), especially in emerging markets, as peak oil demand approaches, its head of gas and power investments said on Thursday. Steven Brann said that LNG and gas, coupled with related asset acquisitions, will offer the best growth opportunities for Vitol as the world moves towards cleaner-burning fuels and oil demand peaks in the next decade. “Our portfolio as a company will increasingly be gassy and asset-heavy and LNG is a means of moving that gas around the world,” Brann said. “Africa is important and LNG in and around Africa is an important part of our growth strategy.” Brann added that Vitol had been in talks with producers in Nigeria to monetise flared natural gas while also looking to help industrial companies to switch fuel inputs, converting from diesel to trucked LNG or LPG. “We already distribute LPG by truck across Nigeria,” Brann said. Vitol traded 7 million tonnes of LNG in 2017 and is looking to build LNG import terminals in Bangladesh and potentially Pakistan. The trader is also in talks to buy LNG supply from Equatorial Guinea. (Reporting by Oleg Vukmanovic and Julia Payne Editing by David Goodman)

UPDATE 1-Vitol sees gas and LNG as key growth driver as oil demand peak looms

DENVER, May 2, 2018 /PRNewswire/ -- First-Quarter 2018 Highlights Net sales of $852.0 million, a quarterly record and increase of 16.7% year-over-year Net income attributable to shareholders of $24.2 million, or $0.09 per diluted share, compared to prior-year quarter net income attributable to shareholders of $18.8 million, or $0.08 per diluted share Adjusted Net Income of $71.6 million, or $0.25 per diluted share, an increase of 35.8% per diluted share compared to the prior-year quarter Record quarterly Adjusted EBITDA of $183.9 million, with an Adjusted EBITDA margin of 21.6% In April 2018, completed bolt-on acquisition of Rapro, expanding fluid power replacement business in Europe Updating guidance to include Rapro acquisition – otherwise maintaining 2018 outlook Gates Industrial Corporation plc (NYSE:GTES), a leading global provider of application-specific fluid power and power transmission solutions, today reported results for the first- 2018. Ivo Jurek, Gates Industrial's Chief Executive Officer, commented, "We are pleased to report a solid start to 2018. Double-digit revenue growth was driven by a combination of core revenue growth, the performance of recent acquisitions and favorable foreign currency impacts. We executed with discipline, expanding our Adjusted EBITDA margin while continuing to invest in the growth of the business. The environment in our end markets remains positive and supportive of our full-year commitments. We continue to execute on our strategy and growth initiatives, and have demonstrated success in securing incremental market opportunities in both our Power Transmission and Fluid Power segments." "We also recently announced the acquisition of Rapro, a Turkey-based manufacturer of fluid power products focused primarily on replacement markets. Rapro's products will fit seamlessly into our distribution network and provide further opportunities for growth in industrial transportation markets. The acquisition of Rapro demonstrates our ability to execute bolt-on acquisitions in our fragmented core markets," continued Mr. Jurek. Mr. Jurek added, "During the quarter we successfully completed our initial public offering and utilized the net proceeds, along with cash on hand, for debt reduction purposes. Following the IPO, our net leverage was reduced from just over five times Adjusted EBITDA to 3.9 times." First-Quarter Financial Results First-quarter revenue of $852.0 million increased 16.7% over the prior-year quarter, including 6.2% core revenue growth, which includes increased volumes across both segments as we continued to experience strong demand in many industrial end markets, as well as in many emerging markets, particularly China. Revenue in the quarter also benefitted 4.7% from our 2017 acquisitions and 5.8% from foreign currency effects. Net income attributable to shareholders in the first quarter was $24.2 million, or $0.09 per diluted share, compared to $18.8 million, or $0.08 per diluted share, in the prior-year period. Adjusted Net Income, which primarily excludes amortization of certain intangibles, transaction-related expenses and foreign currency financing gains and losses, was $71.6 million, or $0.25 per diluted share, compared to $46.1 million, or $0.18 per diluted share, in the prior-year period. First-quarter Adjusted EBITDA was $183.9 million, or 21.6% of sales, compared to $153.0 million, or 21.0% of sales in the prior-year quarter. Excluding the impact of acquisitions, which was not in the prior-year quarter, Adjusted EBITDA margin expanded by approximately 115 basis points to 22.1% in the first quarter. Power Transmission Segment Results (USD in millions) Q1 2018 Q1 2017 % Change % Core Change Revenue $546.0 $485.6 +12.4% +5.8% Adjusted EBITDA $125.3 $107.5 +16.6% Adjusted EBITDA margin 22.9% 22.1% +80 bps Depreciation & amortization (1) $15.5 $13.9 +11.5% Amort. of intangibles from acq. of Gates $19.6 $20.8 (5.8%) (1) Excludes the amortization of intangible assets arising from the 2014 acquisition of Gates. Power Transmission revenue increased 12.4% to $546.0 million in the first quarter, which reflects strong core revenue growth of 5.8%, and a 6.6% benefit from foreign currency effects. During the quarter, we continued to see increased demand across many of our end markets and geographies. Growth in emerging markets modestly outpaced growth in developed regions, with our highest global growth rate being in China. Adjusted EBITDA grew double-digits over the prior-year quarter, while Adjusted EBITDA margin expanded by 80 basis points, primarily attributable to benefits from higher revenue and continued manufacturing productivity improvements. Fluid Power Segment Results (USD in millions) Q1 2018 Q1 2017 % Change % Core Change Revenue $306.0 $244.6 +25.1% +7.2% Adjusted EBITDA $58.6 $45.5 +28.8% Adjusted EBITDA margin 19.2% 18.6% +60 bps Adjusted EBITDA margin, excluding acquisitions 20.4% 18.6% +180 bps Depreciation & amortization (1) $8.9 $7.2 +23.6% Amort. of intangibles from acq. of Gates $11.0 $10.5 +4.8% (1) Excludes the amortization of intangible assets arising from the 2014 acquisition of Gates. Fluid Power revenue increased 25.1% to $306.0 million in the first quarter, which reflected core revenue growth of 7.2%, incremental revenue from recent acquisitions of 13.9% and favorable foreign currency effects of 4.0%. Core revenue growth continued to be driven by strong demand in many industrial end markets, particularly in hydraulic applications. We also saw significant strength in emerging markets during the quarter. Adjusted EBITDA margin increased 60 basis points over the prior-year quarter and was favorably impacted by higher revenue and manufacturing productivity improvements, which offset the dilutive impact of our 2017 acquisitions. Liquidity and Capital Resources During the first quarter of 2018, the Company utilized $26.5 million of cash from operations, reflecting normal seasonality in working capital. First-quarter capital expenditures were $60.5 million, the largest portion of which represented investment in new manufacturing capacity in the Fluid Power segment. As of March 31, 2018, the Company had total cash of $328.5 million and total outstanding debt of $3.0 billion. In January 2018, the Company completed its initial public offering, raising net proceeds of $799.1 million. The net proceeds were used, along with cash on hand, to repay approximately $914 million of outstanding debt, plus applicable premiums and unpaid interest, resulting in significantly improved leverage metrics. As of March 31, 2018, the Company had 289,756,379 actual shares outstanding. 2018 Outlook The Company's full-year outlook remains unchanged, with the exception of the acquisition of Rapro in April 2018. Taking into account the expected 2018 impact of the Rapro acquisition, total revenue growth is now expected to be in the range of 8.0% to 11.0%, with the core revenue growth expectation unchanged at 5.0% to 6.0%. Adjusted EBITDA is now expected to be in the range of $738 million to $758 million for 2018. Additionally, for the full year 2018, the Company projects maintenance capital expenditures to be in line with the historical average of approximately 1.5% of revenue, with total capital expenditures for the year in the range of $150 million to $170 million, largely comprised of investments in capacity expansion. Conference Call and Webcast Gates Industrial Corporation plc will host a conference call today at 5:00 pm ET to discuss the Company's financial results. The conference call can be accessed by dialing (866) 393-4306 (domestic) or +1 (734) 385-2616 (international) and requesting the Gates Industrial Corporation First Quarter 2018 Earnings Conference Call. A webcast of the conference call and accompanying presentation materials can be accessed through Gates Industrial's website at investors.gates.com . An audio replay of the conference call can be accessed by dialing (855) 859-2056 (domestic) or +1 (404) 537-3406 (international), and providing the passcode 2677299, or by accessing Gates Industrial's website at investors.gates.com . About Gates Industrial Corporation plc Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to original equipment ("first-fit") manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation. Our products are sold in 128 countries across our four commercial regions: the Americas; Europe, Middle East & Africa; Greater China; and East Asia & India. This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such subject to various risks and uncertainties. Statements relating to our estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. These subject to risk, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Important factors could affect our results and could cause results to differ expressed in our including but not limited to the factors discussed in the section entitled "Risk Factors" in Gates' Annual Report on Form 10-K for the fiscal year ended December 30, 2017, as filed with the Securities and Exchange Commission ("SEC") and the following: conditions in the global and regional economy and the major end markets we serve; economic, political and other risks associated with international operations; availability of raw materials at favorable prices and in sufficient quantities; changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, key channel partners; competition in all areas of our business; pricing pressures from our customers; continued operation of our manufacturing facilities; our ability to forecast demand or meet significant increases in demand; exchange rate fluctuations; market acceptance of new product introductions and product innovations; our cost-reduction actions; litigation, legal or regulatory proceedings brought against us; enforcement of our intellectual property rights; recalls, product liability claims or product warranties claims; anti-corruption laws and other laws governing our international operations; existing or new laws and regulations that may prohibit, restrict or burden the sale of aftermarket products; our decentralized information technology systems and any interruptions to our computer and IT systems; environmental, health and safety laws and regulations; lives of products used in our end markets as well as the development of replacement markets; our ability to successfully integrate future acquired businesses or assets; our reliance on senior management or key personnel; our ability to maintain and enhance our brand; work stoppages and other labor matters; our investments in joint ventures; liabilities with respect to businesses that we have divested in the past; terrorist acts, conflicts and wars; losses to our facilities, supply chains, distribution systems or information technology systems due to catastrophe or other events; additional cash contributions we may be required to make to our defined benefit pension plans; the loss or financial instability of any significant customer or customers; changes in legislative, regulatory and legal developments involving taxes and other matters; our substantial leverage; and the significant influence of our majority shareholder, The Blackstone Group L.P., over us, as such factors may be updated from time to time in its periodic filings with the SEC which are accessible on the SEC's website at www.sec.gov . Gates undertakes no obligation to update or supplement any forward-looking statements as future events or otherwise, except as required by law. Gates Industrial Corporation plc Consolidated Statements of Operations (Unaudited) Three months ended (USD in millions, except per share amounts) March 31, 2018 April 1, 2017 Net sales $ 852.0 $ 730.2 Cost of sales 516.1 443.4 Gross profit 335.9 286.8 Selling, general and administrative expenses 208.6 188.5 Transaction-related costs 4.7 2.0 Impairment of intangibles and other assets 0.3 — Restructuring (benefits) expenses (0.3) 1.8 Other operating expenses 4.3 0.1 Operating income from continuing operations 118.3 94.4 Interest expense 59.8 55.2 Other expenses 17.4 0.7 Income from continuing operations before taxes 41.1 38.5 Income tax expense 11.7 12.5 Net income from continuing operations 29.4 26.0 Loss (gain) on disposal of discontinued operations, net of tax, respectively, of $0 and $0 0.1 (0.3) Net income 29.3 26.3 Non-controlling interests (5.1) (7.5) Net income attributable to shareholders $ 24.2 $ 18.8 Earnings per share Basic Earnings per share from continuing operations $ 0.09 $ 0.08 Earnings per share from discontinued operations — — Net income per share $ 0.09 $ 0.08 Diluted Earnings per share from continuing operations $ 0.09 $ 0.07 Earnings per share from discontinued operations — 0.01 Net income per share $ 0.09 $ 0.08 Gates Industrial Corporation plc Consolidated Balance Sheets (Unaudited) (USD in millions, except share numbers and per share amounts) As of March 31, 2018 As of December 30, 2017 Assets Current assets Cash and cash equivalents $ 328.5 $ 564.4 Trade accounts receivable, net 799.6 713.8 Inventories 492.0 457.1 Taxes receivable 7.0 14.1 Prepaid expenses and other assets 91.5 76.8 Total current assets 1,718.6 1,826.2 Non-current assets Property, plant and equipment, net 738.9 686.2 Goodwill 2,131.3 2,085.5 Pension surplus 60.2 57.7 Intangible assets, net 2,123.3 2,126.8 Taxes receivable 33.1 32.7 Other non-current assets 34.7 38.6 Total assets $ 6,840.1 $ 6,853.7 Liabilities and equity Current liabilities Debt, current portion $ 33.7 $ 66.4 Trade accounts payable 423.2 392.0 Taxes payable 34.4 29.0 Accrued expenses and other current liabilities 190.2 210.4 Total current liabilities 681.5 697.8 Non-current liabilities Debt, less current portion 3,013.6 3,889.3 Post-retirement benefit obligations 157.6 157.1 Taxes payable 87.7 100.6 Deferred income taxes 509.5 517.1 Other non-current liabilities 75.1 63.4 Total liabilities 4,525.0 5,425.3 Shareholders' equity —Shares, par value of $0.01 each - authorized shares: 3,000,000,000; outstanding shares: 289,756,379 (December 30, 2017: authorized shares: 3,000,000,000; outstanding shares: 245,474,605) 2.9 2.5 —Additional paid-in capital 2,412.1 1,622.6 —Accumulated other comprehensive loss (696.6) (747.4) —Retained earnings 161.1 136.9 Total shareholders' equity 1,879.5 1,014.6 Non-controlling interests 435.6 413.8 Total equity 2,315.1 1,428.4 Total liabilities and equity $ 6,840.1 $ 6,853.7 Gates Industrial Corporation plc Consolidated Statements of Cash Flows (Unaudited) Three months ended (USD in millions) March 31, 2018 April 1, 2017 Cash flows from operating activities Net income $ 29.3 $ 26.3 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization 55.0 52.4 Non-cash currency transaction loss (gain) on net debt and hedging instruments 4.7 (1.3) Premium paid on redemption of long-term debt 27.0 — Other net non-cash financing costs 6.4 8.6 Share-based compensation expense 1.6 0.8 Decrease in post-employment benefit obligations (net) (1.2) (0.2) Deferred income taxes (11.1) (12.1) Other operating activities 0.8 0.7 Changes in operating assets and liabilities, net of effects of acquisitions: —Increase in accounts receivable (78.8) (60.7) —Increase in inventories (29.0) (14.8) —Increase in accounts payable 23.3 23.8 —Increase in prepaid expenses and other assets (1.3) (1.9) —(Decrease) increase in taxes payable (2.4) 5.6 —Decrease in other liabilities (50.8) (39.7) Net cash used in operations (26.5) (12.5) Cash flows from investing activities Purchases of property, plant and equipment (55.9) (12.6) Purchases of intangible assets (4.6) (1.3) Net cash paid under corporate-owned life insurance policies (8.0) (8.3) Proceeds from the sale of property, plant and equipment — 0.7 Other investing activities (0.9) (0.1) Net cash used in investing activities (69.4) (21.6) Cash flows from financing activities Issue of shares, net of cost of issuance 799.1 0.6 Deferred offering costs (3.2) — Buy-back of shares — (1.3) Proceeds from long-term debt — 150.0 Payments of long-term debt (920.1) (7.0) Premium paid on redemption of long-term debt (27.0) — Debt issuance costs paid — (3.2) Dividends paid to non-controlling interests — (5.9) Other financing activities 6.2 — Net cash (used in) provided by financing activities (145.0) 133.2 Effect of exchange rate changes on cash and cash equivalents and restricted cash 5.1 7.8 Net (decrease) increase in cash and cash equivalents and restricted cash (235.8) 106.9 Cash and cash equivalents and restricted cash at beginning of period 566.0 528.8 Cash and cash equivalents and restricted cash at the end of the period $ 330.2 $ 635.7 Supplemental schedule of cash flow information Interest paid $ 73.4 $ 67.7 Income taxes paid, net $ 25.5 $ 19.6 Non-cash accrued capital expenditures $ 2.1 $ 1.2 Accrued deferred offering costs $ 5.1 $ — Non-GAAP Financial Statements This press release includes certain non-GAAP financial measures, which management believes are useful to investors, securities analysts and other interested parties. Management uses Adjusted EBITDA as its key profitability measure. This is a non-GAAP measure that represents EBITDA before certain items that impact comparison of the performance of our business either period-over-period or with other businesses. We use Adjusted EBITDA as our measure of segment profitability to assess the performance of our businesses and it is used for total Gates as well because we believe it is important to consider our profitability on a basis that is consistent with that of our operating segments. Management uses Adjusted Net Income as an additional measure of profitability. Adjusted Net Income is a non-GAAP measure that represents net income attributable to shareholders before certain items that impact comparison of the performance of our business, either period-over-period or with other businesses. Core revenue growth is a non-GAAP measure that represents net sales for the period excluding the impacts of movements in foreign currency rates and the first-year impacts of acquisitions and disposals. We present core revenue growth because it allows for a meaningful comparison of year-over-year performance without the volatility caused by foreign currency gains or losses, or the incomparability that would be caused by the impact of an acquisition or disposal. Management uses Free Cash Flow to measure cash generation and liquidity. Free Cash Flow is a non-GAAP measure that represents cash provided by (used in) operations less capital expenditures. Free Cash Flow Conversion is a measure of Free Cash Flow for the preceding twelve months expressed as a percentage of Adjusted Net Income for the same period. We use this metric as a measure of the success of our business in converting Adjusted Net Income into cash. These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with GAAP. Please see below for a reconciliation of non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures. Gates Industrial Corporation plc Reconciliation of Net Income to Adjusted EBITDA (Unaudited) Three months ended (USD in millions) March 31, 2018 April 1, 2017 Net income $ 29.3 $ 26.3 Adjusted for: Loss (gain) on disposal of discontinued operations 0.1 (0.3) Income tax expense 11.7 12.5 Net interest and other expenses 77.2 55.9 Depreciation and amortization 55.0 52.4 Transaction-related costs (1) 4.7 2.0 Restructuring (benefits) expenses (2) (0.3) 1.8 Sponsor fees and expenses (included in other operating expenses) (3) 1.9 1.5 Share-based compensation 1.6 0.8 Impairments 0.3 — Other adjustments 2.4 0.1 Adjusted EBITDA $ 183.9 $ 153.0 (1) Transaction-related costs relate primarily to advisory costs recognized in respect of the initial public offering, the acquisition of businesses and costs related to other corporate transactions such as debt refinancings. (2) Restructuring (benefits) expenses represent (benefits) costs in relation to specifically defined restructuring projects and include (benefits) costs related to decisions to close lines of business, plant closures and relocations, strategic organizational rationalizations and related non-recurring employee severance. (3) Sponsor fees relate to fees paid to our private equity sponsor for monitoring, advisory and consulting services. Gates Industrial Corporation plc Reconciliation of Net Income Attributable to Shareholders to Adjusted Net Income (Unaudited) Three months ended (USD in millions) March 31, 2018 April 1, 2017 Net Income Attributable to Shareholders $ 24.2 $ 18.8 Adjusted for: Amortization of intangible assets arising from the 2014 acquisition of Gates 30.6 31.3 Transaction-related expenses (1) 4.7 2.0 Impairments 0.3 — Restructuring (benefits) expenses (2) (0.3) 1.8 Sponsor fees and expenses (included in other operating expenses) (3) 1.9 1.5 Share-based compensation 1.6 0.8 Adjustments relating to post-retirement benefit obligations 1.0 1.6 Premium paid on redemption of long-term debt 27.0 — Financing-related FX (gains) losses (4) (9.4) 0.2 Income from discontinued operations 0.1 (0.3) Other adjustments (0.4) (2.3) Estimated tax effect of the above adjustments (9.7) (9.3) Adjusted Net Income $ 71.6 $ 46.1 (1) Transaction-related costs relate primarily to advisory costs recognized in respect of the initial public offering, the acquisition of businesses and costs related to other corporate transactions such as debt refinancings. (2) Restructuring (benefits) expenses represent (benefits) costs in relation to specifically defined restructuring projects and include (benefits) costs related to decisions to close lines of business, plant closures and relocations, strategic organizational rationalizations and related non-recurring employee severance. (3) Sponsor fees relate to fees paid to our private equity sponsor for monitoring, advisory and consulting services. (4) Financing-related FX (gains) losses relate primarily to foreign currency remeasurement (gains) losses on the unhedged portion of Gates' Euro-denominated debt, and, in the first three months of 2018, a gain of $5.8 million on a currency derivative entered into as part of the redemption of our Euro Senior Notes. Gates Industrial Corporation plc Reconciliation of Net Sales to Core Revenue Growth (Unaudited) (USD in millions) Power Transmission Fluid Power Total Net sales (1) for the three months ended March 31, 2018 $ 546.0 $ 306.0 $ 852.0 Impact on net sales of movements in currency rates 32.4 9.8 42.2 Impact on net sales of acquisitions — 34.1 34.1 Core revenue for the three months ended March 31, 2018 $ 513.6 $ 262.1 $ 775.7 Net sales for the three months ended April 1, 2017 $ 485.6 $ 244.6 $ 730.2 Increase in revenue on a core basis (core revenue) $ 28.0 $ 17.5 $ 45.5 Core revenue growth (%) 5.8% 7.2% 6.2% (1) Throughout this document the terms "net sales" and "revenue" are used interchangeably in reference to the GAAP measure "net sales." Gates Industrial Corporation plc Reconciliation of Free Cash Flow and Free Cash Flow Conversion (Unaudited) Three months ended Twelve months ended (USD in millions) March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 Cash (used in) provided by operations $ (26.5) $ (12.5) $ 305.9 $ 351.9 Capital expenditures (1) (60.5) (13.9) (157.7) (68.5) Free Cash Flow $ (87.0) $ (26.4) $ 148.2 $ 283.4 (1) Capital expenditures represent purchases of property, plant and equipment and purchases of intangible assets. Twelve months ended (USD in millions) March 31, 2018 April 1, 2017 Free Cash Flow $ 148.2 $ 283.4 Adjusted Net Income 234.4 194.9 Free Cash Flow Conversion 63.2% 145.4% Source: Gates Industrial Corporation plc Contact Bill Waelke (303) 744-4887 investorrelations@gates.com View original content with multimedia: http://www.prnewswire.com/news-releases/gates-industrial-reports-record-first-quarter-2018-results-300641484.html SOURCE Gates Industrial Corporation plc

Gates Industrial Reports Record First- 2018 Results

May 2, 2018 / 2:55 PM / Updated 18 minutes ago LPL Financial resolves U.S. states' probe for $26 million Reuters Staff 2 Min Read BOSTON (Reuters) - LPL Financial Holdings ( LPLA.O ) has reached a $26 million settlement with state securities regulators resolving claims that the U.S. broker-dealer was negligent in supervising employees and preventing the sale of unregistered securities to customers. The settlement was announced on Wednesday by state securities regulators in Massachusetts and Alabama, who said the deal will also ensure that LPL buys back securities that were illegally sold to investors. “Because of the states’ combined efforts, thousands of investors will benefit and be given the right to have their money returned plus interest,” Massachusetts Secretary of the Commonwealth William Galvin said in a statement. The settlement followed an investigation led by regulators in Massachusetts and Alabama and the North American Securities Administrators Association and covered conduct they said took place over the past 12 years. LPL Financial, the largest U.S. independent broker-dealer by revenue, said it will pay a $499,000 fine to each of the 52 U.S. states and territories if they choose to participate in the deal. California has chosen not to participate, LPL said. “We take our compliance and risk management obligations seriously and will continue to dedicate resources to this important work moving forward,” LPL said in a statement. Under the settlement, customers who were sold unregistered securities since October 2006 will be offered the full amount they paid plus 3 percent interest. LPL also agreed to a full review to assess its compliance with state securities laws, regulators said. (This version of the story corrects day to Wednesday, not Tuesday in paragraph 2) Reporting by Nate Raymond in Boston; editing by Jonathan Oatis; Editing by Chizu Nomiyama

LPL Financial resolves U.S. states' probe for $26 million

Lee Neibart and Sean Hehir to Lead SPAC to Target Business Combination Candidates with a Real Estate Component HONOLULU--(BUSINESS WIRE)-- Trinity Merger Corp. (the “Company”), a special purpose acquisition vehicle led by seasoned real estate investment professionals Lee S. Neibart and Sean A. Hehir, today announced the closing of its initial public offering (“IPO”) in which it raised gross proceeds of $345 million. The Company intends to focus on business combination candidates with a real estate component and an enterprise value of approximately $750 million to $2 billion. The Company sold 34.5 million units at $10.00 per unit in the IPO, which includes 4.5 million units issued pursuant to the underwriter’s exercise of its over-allotment option in full. The Company’s units began trading on The NASDAQ Capital Market (“NASDAQ”) under the ticker symbol “TMCXU” on May 15, 2018. Each unit consists of one share of the Company’s Class A common stock and one warrant to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “TMCX” and “TMCXW,” respectively. B. Riley FBR, Inc. served as sole book-running manager for the offering. Mr. Neibart serves as the Company’s Chairman and Mr. Hehir serves as its Chief Executive Officer and President. The two have worked together for more than 20 years, partnering on several large institutional real estate transactions. Altogether, the Company’s leadership team has acquired more than 50 hotels with more than 30,000 keys in the United States and abroad. Mr. Neibart has more than 40 years of experience in commercial real estate investing, mergers and acquisitions, and strategic business planning. He has held senior leadership roles at Ares Real Estate Group, HBS Global Properties and AREA Property Partners. Mr. Neibart also has experience serving as a director for various public and private companies. The Company represents Mr. Neibart’s second real estate-related SPAC. He took NRDC Acquisition Corp. public in October 2007. That vehicle converted to a real estate investment trust and changed its name to Retail Opportunity Investments Corp. (NASDAQ:ROIC) in 2009. Mr. Hehir has more than 20 years of experience in real estate investment and asset management, and currently serves as the President and Chief Executive Officer of Trinity Real Estate Investments LLC, a private equity real estate firm (“Trinity Investments”). Since joining Trinity Investments in May 1998, Mr. Hehir has executed over $4 billion of global real estate transactions. Prior to joining Trinity Investments, Mr. Hehir worked for HVS International, a leading consulting firm to the hospitality industry. In addition to Messrs. Neibart and Hehir, the Company’s board of directors includes Richard F. Wacker, President and Chief Executive Officer of American Savings Bank, F.S.B.; Catherine Luke, President and Director of Loyalty Enterprises Ltd.; and Warren R. de Haan, Co-Founder and Managing Partner at ACORE Capital, LP. The public offering was made only by means of a prospectus, copies of which may be obtained from: B. Riley FBR, Inc., Attention: Prospectus Department, 1300 14th Street North, Suite 1400, Arlington, VA 22209, or by telephone at (800) 846-5050 or by email at prospectuses@brileyfbr.com . A registration statement (including a preliminary prospectus) relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 14, 2018. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Trinity Merger Corp. Trinity Merger Corp. is a special purpose acquisition company formed by HN Investors LLC, an affiliate of Trinity Real Estate Investments LLC, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it expects to focus its search on acquiring an operating company or business with a real estate component (such as a business within the hospitality, lodging, gaming, real estate or property services, or asset management industries). Cautionary Note Concerning Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20180517006363/en/ Media: ICR Jason Chudoba, 646-277-1249 Jason.Chudoba@icrinc.com or Megan Kivlehan, 646-677-1807 Megan.Kivlehan@icrinc.com Source: Trinity Merger Corp.

Seasoned Real Estate Investment Professionals Complete $345 Million Nasdaq IPO of Trinity Merger Corp.

BEIJING (Reuters) - China’s central bank pledged on Wednesday to improve its information disclosure as part of steps to make its policy-making process more transparent. FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, China April 3, 2014. B REUTERS/Petar Kujundzic/File Photo The People’s Bank of China (PBOC) has been trying to communicate more effectively with markets when it issues new policies and give more context and details to global investors often puzzled by China’s opaque policy-making process. “We will continuously improve the central bank’s credibility and transparency,” the PBOC said in a notice published on its website. The central bank would “strengthen its policy interpretation and information disclosure, deliver its policy intentions in a timely way and reasonably guide market expectations”, it said. The central bank said it would issue data on bank lending, internet finance and payments system in a timely manner and get its message across through media briefings and interviews. The PBOC would also closely monitor media reports and public opinion to prevent its policy intentions from being misread by the financial market, it added. The central bank reaffirmed that it would maintain its prudent and neutral policy while preventing financial risks. The PBOC has in recent years gained more policy influence, even though the central bank still lacks the independence of institutions such as the U.S. Federal Reserve and needs cabinet approval to change interest rates or the value of the yuan. Reporting by Kevin Yao; Editing by Jacqueline Wong

China central bank aims to improve information disclosure and transparency

Turmoil in Italian politics has sent shock waves through financial markets in moves reminiscent of the eurozone crisis. Much has changed in Europe over...

Then and Now: The Italian Crisis in Seven Charts

Texas teen charged with killing 10 in high school massacre 9:25am EDT - 01:55 Multiple people were killed on Friday in a shooting at a high school in Santa Fe, Texas, a law enforcement source said, in the latest gun violence in a country still shaken by the massacre at a Florida high school in February. Multiple people were killed on Friday in a shooting at a high school in Santa Fe, Texas, a law enforcement source said, in the latest gun violence in a country still shaken by the massacre at a Florida high school in February. //reut.rs/2ItNKXH

Texas teen charged with killing 10 in high school massacre

* Trump expected 1800 GMT on Tues Iran crude exports could be hit if U.S. pulls out of deal * U.S. crude falls below $70 per barrel at one point on Tues (Adds detail, graphic; updates prices) TOKYO, May 8 (Reuters) - Oil prices retreated from 3-1/2 year highs on Tuesday as investors waited on an announcement by on whether reimpose sanctions on Iran. Should Trump pull the United States out of a multi-nation agreement on Tehran's nuclear program, Iranian crude exports could be hit, adding to tightness in the oil market, which is coming back into balance after years of glut. U.S. West Texas Intermediate (WTI) crude futures had dropped 73 cents, or 1 percent, to $70 a barrel by 0240 GMT. At one point they fell below $70, after settling above that level for the first time since November 2014 on Monday. Brent crude futures were down 63 cents, or 0.8 percent, at $75.54, having jumped 1.7 percent to settle at $76.17 a barrel in the previous session. Trump said on Monday that a decision on whether to remain in the Iran nuclear deal or to impose sanctions would be announced at 2:00 p.m. EDT (1800 GMT) on Tuesday, four days earlier than expected. Trump is likely to either announce he will not be renewing a waiver on sanctions, leading to a "significant reduction" in Iranian oil sales within six months, or will restate his opposition to the nuclear agreement, Barclays Research analysts said in a report. "Regardless, his foreign policy continues to ignite tensions in the main oil-exporting center and is, thus, price supportive," they said. If Trump restores core U.S. sanctions, under U.S. law he must wait at least 180 days before imposing their furthest-reaching measure, which is to target banks of nations that fail to significantly cut their purchases of Iranian oil. Analysts at RBC Capital Markets said Iran's exports could be cut by 200,000 to 300,000 bpd as a result. Iranian officials, however, said that the country's oil industry would continue to develop even if the United States exits the accord. Under the deal to limit Iran's nuclear pogramme, formally known as the Joint Comprehensive Plan of Action, the U.S. agreed to ease a series of sanctions on Iran and has done so under a string of "waivers" that effectively suspend them. Trump has repeatedly threatened deal, unless France, Germany and Britain - which also signed the agreement - fix what he has called its flaws. (Reporting by Aaron Sheldrick; Editing by Richard Pullin and Joseph Radford)

UPDATE 1-Oil prices fall as market awaits decision on

May 4, 2018 / 5:19 PM / Updated 6 hours ago Qatar steps in to rescue Rosneft's troubled stake sale to China Dmitry Zhdannikov , Olesya Astakhova 4 Min Read LONDON/MOSCOW (Reuters) - Qatar is taking a nearly 19 percent stake in Rosneft ( ROSN.MM ), rescuing the Russian oil major from its stalled deal to sell a major stake to China’s CEFC. FILE PHOTO: The logo of Russia's oil producer Rosneft is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin/File Photo The deal strengthens ties between Moscow and Doha at a time when Qatar is facing boycott by its Gulf Arab neighbors. Qatar’s sovereign investment fund QIA initially bought 19.5 percent in Rosneft together with Swiss trading giant Glencore ( GLEN.L ) for 10.2 billion euros ($12.2 billion) during the Russian firm’s partial privatization in 2016. But last year the consortium agreed to sell a 14.16 stake in Rosneft to CEFC China Energy in a $9.1 billion deal that was seen as key to helping expand relations between Russia and China, the world’s top energy exporter and top consumer. That deal ran into trouble after CEFC Founder and Chairman Ye Jianming was put under investigation by Chinese authorities over suspected economic crimes, Reuters reported in March. Glencore said on Friday that the consortium that had been selling the Rosneft stake had been dissolved, and said Qatar and Glencore would now own stakes directly. QIA would control an equity stake of 18.93 percent and Glencore would hold some 0.57 percent. CEFC has not commented publicly since the termination of the deal was announced. The company did not immediately respond to Reuters requests for comment. Calls to its Shanghai headquarters were not answered on Saturday. The once high-flying conglomerate is now conducting fire sales of its assets following the investigation into its chief and offering staff severance packages after failing to pay them for two months, as creditors scramble to collect debts amid growing regulatory scrutiny of the firm. “CEFC China’s purchase of a stake in Rosneft has ended in a debacle. Russia’s pivot to the East now feels more like a pivot to the Middle East, with Qatar coming to the rescue,” said Christian Boermel, senior research analyst, Russia Upstream, at energy consultancy Wood Mackenzie. PROFITABLE INVESTMENT Rosneft was hit hard by U.S. sanctions on Russia over Moscow’s annexation of Crimea and incursion in east Ukraine. But sources close to QIA have said Rosneft could prove a profitable long-term investment given the giant firm is worth only $65 billion despite producing more crude than U.S. ExxonMobil, which is worth $324 billion. The fate of the CEFC deal, one of the largest investments by China in Russia, was seen as a litmus test of how far President Xi Jinping’s government was prepared to go with a crackdown on financially risky activities among big-spending conglomerates. Rosneft has, however, said it continues to consider China as a strategic market and that it will supply its term contracts based on the agreed timing and volumes to CEFC. The Russian oil major in 2017 signed a five-year contract to supply 12 million tonnes of oil per year to the Chinese firm. Glencore will also keep its long-term crude offtake agreement with the Russian producer under the new arrangement, a source told Reuters. ($1 = 0.8365 euros) Addditional reporting by Olga Yagova and Katya Golubkova, and Kane Wu in Hong Kong; Editing by Edmund Blair and Himani Sarkar

Qatar steps in to rescue Rosneft's troubled stake sale to China

MEXICO CITY (Reuters) - Mexican Foreign Minister Luis Videgaray said on Thursday that the country will continue negotiating with the United States to revamp the North American Free Trade Agreement despite “unjust and unilateral” tariff measures by the U.S. government. Reporting by Mexico City Newsroom; Editing by Frank Jack Daniel

Mexico says will continue NAFTA talks with US despite tariffs

May 1 (Reuters) - PAS Group Ltd: * FORECASTS FY2018 FULL YEAR EBITDA TO BE BETWEEN $10.0M AND $13.0M INCLUSIVE OF AN INVESTMENT IN NEW BUSINESS OF $0.8M Source text for Eikon: Further company coverage:

BRIEF-PAS Group Forecasts FY EBITDA Between $10.0 Mln - $13.0 Mln

PHOENIX, May 9, 2018 /PRNewswire/ -- VEREIT, Inc. (NYSE: VER) announced that its Board of Directors declared a monthly dividend to holders of its 6.70% Series F Cumulative Redeemable Preferred Stock, par value $0.01 per share ("Series F Preferred Stock"), for July 2018 through September 2018 in respect of the periods included in the table below. The corresponding record and payment dates for each month's Series F Preferred Stock dividend are also shown in the table below. The dividend for the Series F Preferred Stock accrues daily on a 360-day annual basis equal to an annualized dividend rate of $1.675 per share, or $0.1395833 per 30-day month. Period Record Date Payment Date June 15, 2018 – July 14, 2018 July 1, 2018 July 16, 2018 July 15, 2018 – August 14, 2018 August 1, 2018 August 15, 2018 August 15, 2018 – September 14, 2018 September 1, 2018 September 17, 2018 About the Company VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has a total asset book value of $14.5 billion including approximately 4,100 properties and 94.7 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties. VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange. Additional information about VEREIT can be found on its website at www.VEREIT.com and through social media platforms such as Twitter and LinkedIn. Forward-Looking Statements Information set forth herein (including information included or incorporated by reference herein) contains " " (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), which reflect VEREIT's expectations regarding future events and VEREIT's future financial condition, results of operations and business including VEREIT's Series F Preferred Stock dividends and VEREIT's ability to timely pay the dividends at the announced rate. The involve a number of assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the . Generally, the words "expects," "anticipates," "assumes," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "should," "could," "continues," variations of such words and similar expressions identify . These are subject to a number of known and unknown risks, uncertainties and assumptions, most of which are difficult to predict and many of which are beyond VEREIT's control. If a change occurs, VEREIT's business, financial condition, liquidity and results of operations may vary materially from those expressed in or implied by the . The following factors, among others, could cause actual results to differ from those set forth in the : VEREIT's plans, market and other expectations, objectives, intentions and other statements that are not historical facts; the developments disclosed herein; VEREIT's ability to execute on and realize success from its business plan; VEREIT's ability to meet its 2018 guidance; the unpredictability of the business plans and financial condition of VEREIT's tenants; risks associated with tenant, geographic and industry concentrations with respect to VEREIT's properties; the impact of impairment charges in respect of certain of VEREIT's properties or other assets; competition in the acquisition and disposition of properties and in the leasing of its properties; the inability to acquire, dispose of, or lease properties on advantageous terms; VEREIT could be subject to risks associated with bankruptcies or insolvencies of tenants or from tenant defaults generally; risks associated with pending government investigations and litigations related to VEREIT's previously disclosed audit committee investigation; the ability to retain or hire key personnel; and continuation or deterioration of current market conditions. Additional factors that may affect future results are contained in VEREIT's filings with the U.S. Securities and Exchange Commission (the SEC), which are available at the SEC's website at www.sec.gov . VEREIT disclaims any obligation to publicly update or revise any , whether as a result of changes in underlying assumptions or factors, new information, future events or otherwise, except as required by law. View original content with multimedia: http://www.prnewswire.com/news-releases/vereit-announces-monthly-series-f-preferred-stock-dividend-for-july-2018-through-september-2018-300645848.html SOURCE VEREIT, Inc.

VEREIT® Announces Monthly Series F Preferred Stock Dividend for July 2018 through September 2018

Illustration by Markus Hofko What the Hell Happened at GE? Few corporate meltdowns have been as swift and dramatic as General Electric’s over the past 18 months—but the problems started long before that. By Geoff Colvin 6:30 AM EDT It’s a bad day for a CEO when he announces he’s retiring and the stock goes up. That was Jeff Immelt’s day on June 12, 2017. The news of his departure was in one sense no surprise—some investors and analysts had been urging his ouster for years—but it was also a shock. He’d been General Electric’s CEO for almost 16 years, and outsiders were unaware of any specific succession plans or that ­Immelt, at age 61, had any intention of stepping down. Suddenly they were told that in just seven weeks he’d be gone as CEO (he remained nonexecutive board chairman an additional two months), to be succeeded by John Flannery, head of GE’s health care business and a 30-year employee. Investors didn’t need long to decide this was good news. The market was flat that day, but they bid GE stock up 4%. Their optimism was at best premature. The stock closed at $28.94 on June 12 and has not reached that price since. As economies boomed worldwide and U.S. stock indexes soared, GE has collapsed in a meltdown that has destroyed well over $100 billion of shareholder wealth. Pounded by a nonstop barrage of bad news, investors are traumatized and disoriented. “They just can’t figure it out and don’t want to invest,” says analyst Nicholas Heymann of William Blair & Co. “This isn’t like surveying the landscape. It’s spelunking with no lights and no manual.” Analyst Scott Davis of Melius Research says some investors have become permanently disillusioned: “Many have told us they will never own GE again.” Retirees and employees who bought heavily into the stock are furious; some picketed GE’s annual meeting in April. Former executives are dumbfounded. “It’s unfathomable,” says one. “You couldn’t possibly dream this up. It’s crazy.” After all, this is GE, a corporate aristocrat, an original Dow component, the world’s most celebrated management academy, now revealed as a financial quagmire with a deeply uncertain future. Its bonds, rated triple-A when Immelt became chief, are now rated five tiers lower at A2 and trade at prices more consistent with a Baa rating, one notch above junk. In response to this debacle, GE has repudiated its previous leadership with a zeal unprecedented in a company of its size and stature. Gone in the past 10 months are the CEO, the CFO (who was also a vice chair), two of the three other vice chairs, the head of the largest business, various other executives—and half the board of directors. The radical board shake-up “could be one of the most seminal events in the history of U.S. corporate governance,” says a longtime vendor and close student of GE. Immelt (left) and Flannery announcing the succession. Flannery would soon replace much of Immelt’s top team and strategy. Courtesy of General Electric Immelt declined to be interviewed for this article but sent Fortune a statement in which he cited accomplishments and said, “None of us like where the stock is today. I purchased $8 million of stock in my last year as CEO because I believe in the GE team. I love the company, and I urge them to start looking forward and win in the markets.” Flannery’s strongest message is how completely he’s breaking with GE’s recent past. “The review of the company has been, and continues to be, exhaustive,” he told investors last October. Specifically: “We are evaluating our businesses, processes, [the] corporate [function], our culture, how decisions are made, how we think about goals and accountability, how we incentivize people, how we prioritize investments in the segments … global research, digital, and additive [manufacturing]. We have also reviewed our operating processes, our team, capital allocation, and how we communicate to investors. Everything is on the table … Things will not stay the same at GE.” Inescapable conclusion: This place is an unholy mess. Flannery has even voiced the unthinkable, that GE might be more valuable in pieces. “The pressure on GE to announce some sort of breakup is very high,” says Davis of Melius Research. Whatever happens, Flannery has a good shot at becoming famous—as the guy who saved GE or the guy who broke it up. All of which leaves the world asking two questions: What happened? And what’s next? The first question must be answered first. It is inevitably a story about Jeff Immelt, and it starts well before the stock’s recent implosion. As a former GE executive puts it, “The wheels came off in 2017, but the lug nuts had been loosening for a long time.” Immelt often notes that his CEO tenure got off to a rough start; it began just four days before 9/11. Airplanes, one of them powered by GE engines, crashed into the World Trade Center towers, insured by GE Capital. Air travel demand contracted violently, hobbling GE’s business as the world’s largest lessor of planes. In his first week as chief, at age 45, he faced a once-in-a-lifetime crisis. He came through it well, forced to make decisions for which no one could be prepared. Should he support and partially backstop a government loan guarantee for America West Airlines, a GE customer? If he didn’t say yes—now—the airline would fail. Never in his career had he touched the airline business. He said yes. “I’m eternally grateful to him,” says Doug Parker, America West’s CEO at the time, and now, through a series of mergers, CEO of American Airlines . “It was a huge risk. He could have said he didn’t understand this and wouldn’t do it.” In the following months, as countries and companies obsessed over security, Immelt saw an opportunity. GE bought Ion Track, a company with advanced explosive-detection technology, for an undisclosed price. Some 18 months later he bought another explosive-detection company, ­InVision, for $900 million. But in 2009 he sold a large majority interest in the two firms, packaged as GE Homeland Security, in a deal that valued the unit at just $760 million. His security bet was a bust. It was the beginning of a pattern, which many analysts and observers say is an important element in GE’s current misery. Immelt followed fads, they say, paying top dollar to acquire the hot businesses of the moment. For example, from 2010 through 2014, when oil prices hovered around $100 a barrel, GE bought at least nine businesses in the oil and gas industry. Then, in 2016, with prices down by half, it agreed to combine its oil and gas unit with Baker Hughes , a publicly traded oilfield services provider, creating a company owned mostly by GE. Regulators approved the deal last July; Baker Hughes stock quickly fell and has yet to reach the price it hit that summer, even as oil prices have risen. Just days after Immelt left GE’s board, in a telling move, it formed a panel called the Finance and Capital Allocation Committee, whose express purpose is to scrutinize management’s loose control of its wallet. The first thing Flannery tasked them to work on was “evaluating our exit options on Baker Hughes.” Another example: In 2004, with U.S. home prices rocketing, GE paid $500 million for a subprime mortgage company called WMC. In 2007, with home prices falling, GE laid off most WMC employees and sold the company, which lost $1 billion that year. This past February, GE announced that the Justice Department “is likely to assert” violations of law at WMC when GE owned it, and GE reserved $1.5 billion against a possible penalty. By no means were all of Immelt’s deals losers. What’s most striking about his acquisitions and divestitures is their staggering quantity. He did hundreds of deals and claims with apparent pride to be the only CEO who has ever bought and sold over $100 billion of businesses. Among those deals were some big winners. GE bought Enron’s wind turbine manufacturing assets for $358 million in a bankruptcy auction, creating the foundation of a business (augmented with several later acquisitions) that brought in $10.3 billion of revenue last year. In his largest industrial divestiture, Immelt sold GE’s plastics business to Saudi Basic Industries for $11.6 billion just before the financial crisis; the price was more than analysts expected, and the deal was widely regarded as excellent for GE. On the whole, though, Immelt’s shopping skills were not stellar, and it was part of a larger problem. Ask Wall Street analysts, customers, vendors, competitors, former executives, and former directors to explain how GE ended up where it is, and their first words are the same: “capital allocation.” That’s a crucial job for any CEO, nowhere more so than at GE, with its ever-shifting portfolio of businesses. The near-universal consensus outside the company is that Immelt was bad at it. While Immelt’s biggest industrial divestiture, plastics, may have been his best deal, his biggest acquisition looks like his worst—and it’s still dragging the company down. That was his 2015 acquisition of Alstom, a big French competitor of GE’s largest business, GE Power, which makes and services the huge turbines that utilities use to generate electricity. At a price of $10.6 billion, this was GE’s most expensive industrial acquisition ever. An Immelt spokesman notes that the board reviewed the deal eight times and approved it. The problems were many. Alstom’s profit margins were low, but GE figured it could raise them. GE’s strategy relied heavily on selling services, but regulators made the company divest Alstom’s service business. The acquisition added more than 30,000 high-cost employees, many in Europe, but GE figured they’d more than pay for themselves. Worst of all, the purchase was spectacularly mistimed. GE doubled down on fossil-fuel-fired turbines just as renewables were becoming cost competitive. Result: Global demand for GE Power’s products collapsed, while GE had bet heavily the other way. GE Power’s profit plunged 45%. The transaction has been a debacle and an embarrassment. A former senior leader recalls that as GE Power cratered, “people looked at us and said, ‘You’ve been in this business a hundred years, right?’ ” GE nonetheless defended the deal stoutly as long as Immelt was around. Then, a few weeks after he stepped down as board chairman, Flannery acknowledged what everyone already knew, telling investors, “Alstom has clearly performed below our expectations, clearly. I don’t need to tell you that.” Yet Alstom was not Immelt’s worst capital-allocation blunder, nor even close. That occurred years earlier, in increments, as he bulked up GE Capital before the financial crisis. A popular story line holds that his predecessor, Jack Welch, enlarged GE Capital unsustainably, forcing Immelt to deflate it back to sane dimensions. But the numbers show the opposite. GE Capital never accounted for more than 41% of GE profits during Welch’s last decade, while Immelt expanded the business by adding over $250 billion of debt to it, until it accounted for 55% of GE’s profit in 2007. He also allowed it to take greater risks, notably by making direct equity investments in commercial real estate. That worked great until the crisis, when most of GE Capital’s profit evaporated. Immelt cut GE’s dividend for the first time since the Great Depression and had to ask Warren Buffett for $3 billion right away. GE Capital never recovered, and when Immelt announced plans to dismantle it in 2015, investors cheered. GE Transportation plans to end most locomotive production in Erie, Pa., by year-end, moving it to Fort Worth. The business will likely be sold or spun off soon. Mike Bradley for Fortune He mishandled capital in other ways too. He spent $93 billion buying back stock, which isn’t necessarily a bad idea, but he had an unfortunate knack for buying at high prices. GE spent only $7 billion of that $93 billion from 2008 through 2011, when the stock price was mostly in the teens; the company spent almost $80 billion buying back shares at prices over $30. Immelt also maintained the dividend even when GE’s operations weren’t furnishing enough cash, forcing him to borrow money and send it directly to shareholders. An Immelt spokesman says, “Jeff cut the dividend once. He did not want to do it twice.” Flannery admits, “We’ve been paying a dividend in excess of our free cash flow for a number of years now.” Days after Immelt left, Flannery and the board cut the dividend by half. Inept capital allocation can be documented with hard data. Management of human capital and culture is much squishier but at least as important. It too was a contributor to GE’s collapse. The hardware of GE’s famous talent development apparatus remains in place—the famous Crotonville, N.Y., campus, the Session C management appraisals—but several former executives who worked with Immelt believe the system’s software deteriorated. “There’s no question that the leadership development process lost some of its rigor,” says one, echoing a common view that goes back years. Still, those are only opinions, and an Immelt spokesman notes that the strong performance of GE’s jet engine and health care businesses rebuts the notion of a broad cultural problem. Some executives felt the culture of performance remained powerful. “I had many opportunities to leave and be paid more,” says John Rice, who retired as a vice chairman in March. “I stayed because of the culture. It pushed you to do all you could do, and if you didn’t, you had to explain it and be accountable for it.” The strongest evidence that human capital and culture need serious attention at GE comes from Flannery’s actions and statements, which reinforce what the critics have been saying. He clearly wasn’t happy with the top team he inherited and has noted that “40% of the team is new.” He constantly reminds investors that “there have been significant changes in the leadership of the company.” Production plants of engineering firms General Electric and Alstom stand near each other in Belfort, France. Michele Tantussi—Getty Images Perhaps his favorite theme is the need to fix the GE culture. “Culture—you’ve heard me say it a hundred times,” he told investors. “Inside the business they’ve heard it a lot. “He’s explicit that GE needs more “rigor” and “accountability—outcomes matter. Effort’s good, outcomes matter.” Flannery (who declined an interview request) is describing a company that doesn’t execute. In GE Power, he says, “we have exacerbated the market situation with some really poor execution.” Executives who worked with Immelt say he appreciated the importance of execution but felt it was a self-sustaining core competency. “Jeff assumed early on that this company is phenomenal at operational execution and will continue no matter what,” says one. “That was a fatal mistake.” The most surprising element in Flannery’s critique of the culture he inherited is that it needs “more candor, more debate, more pushback.” Really —more candor? At GE? The place has long been famous as a company where frankness borders on rudeness. An Immelt spokesman says “there was a lot of pushback” in meetings with Immelt. Yet Flannery harps on the point, and executives who worked with Immelt voice the same concern. “Jeff just didn’t listen to his subordinates,” says a former finance executive. “Pushback went away under Jeff,” says a former staff member. “When the top guy is the smartest guy in the world, you’ve got a real problem.” Jeff Immelt is a big , affable, charming man. People tend to like him. He grew up in Cincinnati, where his father was a manager in GE’s aircraft engine business, though Jeff says that fact didn’t influence his decision to work at GE. Dartmouth recruited him as a football player in the nonglamorous position of offensive tackle, and he thought he might one day play professionally. Schoolmates saw him as a leader; he was president of his fraternity, and one of his fraternity brothers, former Vanguard CEO Bill McNabb, says no one was surprised when Immelt became GE’s chief. After college he returned to Cincinnati for a job in Procter & Gamble’s famous brand management program. Seated next to him was future Microsoft CEO Steve Ballmer; they worked on Duncan Hines cake mix, and Immelt often recalls with a laugh that they were “horrible employees.” They must not have been too bad. A couple of years later, Immelt went to Harvard Business School and then to GE, where he started as an internal marketing consultant at headquarters. When he became CEO, he faced the task that confronts every new GE boss: remaking the company. By tradition, the former chief executive leaves the board and leaves the building, giving the new captain free rein to set GE’s direction. Immelt’s changes included two that urgently needed doing. He immediately started making GE more global. Surprisingly for such a big, famous company, it was still doing 60% of its business in the U.S. By the time Immelt left, GE was operating in 180 countries and getting 61% of its revenue from outside the U.S.; annual revenue from emerging markets expanded from $10 billion to $45 billion. Some analysts complain that in certain markets, especially China, much of that new business was bought at too high a price. But the locus of global economic growth was moving, and GE needed to follow it. Rank 18 2017 Company Profile: General Electric. Revenues

What the Hell Happened at GE?

May 3 (Reuters) - Shenzhen Sunwin Intelligent Co Ltd * Says it will pay a cash dividend of 0.5 yuan (before tax) per 10 shares and use additional paid-in capital to distribute 8 new shares for every 10 shares for 2017, to shareholders of record on May 9 * Says the company’s shares will be traded ex-right and ex-dividend on May 10 and the dividend will be paid on May 10 Source text in Chinese: goo.gl/ThC3nk (Beijing Headline News) Our

Shenzhen Sunwin Intelligent says dividend payment date on May 10

NEW YORK, May 30, 2018 /PRNewswire/ -- S&P Global Market Intelligence sees improving profitability for U.S. banks, including smaller community banking institutions, at least in the near term, according to its latest bank market reports. Banks should experience additional expansion in net interest margins even as funding pressures and heightened competition stemming from tax reform mitigate the benefits of higher interest rates. That expansion, coupled with a lower corporate tax rate, should allow profitability to nearly reach precrisis levels, before credit quality sours and serves as a headwind to earnings. As credit quality slips, banks will begin complying with a new reserve methodology, dubbed the Current Expected Credit Loss model (CECL), which could slow balance sheet growth as some institutions raise rates on loans, while others look to rebuild their capital bases. The detailed outlooks for both the US banking and community bank industries were outlined in the 2018 US Bank Market Report and the 2018 US Community Bank Market Report published in the early spring. The reports, which offer a five-year comprehensive analysis for the two groups, also highlight performance over the last decade and explain how banks have reacted to changes in the regulatory and interest rate environment. Additional analysis from the reports: Higher funding costs loom as deposit betas jump at some large US banks CECL will create large capital hit, earnings volatility for US banks Community banks winning the battle for deposit costs Community banks well-positioned to absorb capital hit from CECL Bank profitability is poised to improve in the near term 2017A 2018P 2019P 2020P 2021P 2022P ROAA (%) 0.96 1.25 1.25 1.16 1.00 0.96 ROAE (%) 8.55 11.18 11.29 10.41 8.80 8.42 Efficiency ratio (%) 57.63 58.14 57.25 56.08 55.68 55.70 Net interest margin (%) 3.21 3.24 3.28 3.34 3.34 3.32 Projections current as of March 2, 2018. Data compiled between Feb. 19, 2018, and March 2, 2018. A= Actual; P=Projected Source: S&P Global Market Intelligence, proprietary estimates ©2018. S&P Global Market Intelligence. All rights reserved. Including the impact of CECL, which banks will adopt in 2020, the report projects that while the banking industry could record slightly higher net interest margins, it should report lower capital ratios and experience greater earnings volatility. Profitability metrics for community banks 2017A 2018P 2019P 2020P 2021P 2022P ROAA (%) 1.02 1.15 1.11 1.04 0.96 0.88 ROAE (%) 8.85 9.87 9.32 8.52 7.60 6.73 Efficiency ratio (%) 63.02 65.42 64.95 63.72 62.88 64.21 Net interest margin (%) 3.66 3.69 3.70 3.75 3.83 3.75 Projections current as of March 22, 2018. Data compiled between March 2, 2018 and March 16, 2018. A= Actual; P=Projected Source: S&P Global Market Intelligence, proprietary estimates ©2018. S&P Global Market Intelligence. All rights reserved. The banking industry's earnings are projected to jump 36.3% in 2018 for large banks, and 19% through 2018 for community banks, according to the reports. Earnings should rise 4.2% for large banks in 2019 as higher interest rates continue to bolster profitability, while community bank earnings are projected to dip modestly in 2019 as funding costs rise and impede margin expansion. However, the reports see earnings falling in 2020 for all banks as credit quality begins to deteriorate. Tax Reform Impact The Tax Cuts and Jobs Act lowered the corporate statutory tax rate to 21%, well below the roughly 30% effective rate regularly recorded by the banking industry since the credit crisis. The lower tax rate and the benefit of being compared to a lower earnings base in 2017 should allow earnings to grow by more than 35% and 19% in 2018 for large banks and community banks respectively. There is hope that tax reform will spur greater economic activity as well, but loan demand has not increased yet. Lackluster growth has led to fiercer competition for quality credits and tax reform likely will only intensify the fight since economic growth will not be strong enough to lever the windfall from the legislation. If growth fails to materialize, tax reform could prove to be a double-edge sword for the banking industry. S&P Global Market Intelligence analyzed nearly 10,000 banking subsidiaries, covering the core banking industry from 2005 to 2017. The analysis includes all commercial and savings banks and savings institutions and historical institutions as long as they were still considered current at the end of a given year. It excludes several hundred institutions that hold bank charters but do not principally engage in banking activities, among them industrial banks, nondepository trusts and cooperative banks. The analysis examined long-term performance over periods outside the peak of the asset bubble from 2006 to 2007 to inform projections both in good and bad times. S&P Global Market Intelligence has created a model that projects the balance sheet and income statement of the entire industry and allows for different growth assumptions from one year to the next. About S&P Global Market Intelligence At S&P Global Market Intelligence, we know that not all information is important—some of it is vital. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction. S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). For more information, visit www.spglobal.com . View original content: http://www.prnewswire.com/news-releases/us-bank-profits-projected-to-reach-pre-crisis-levels-but-cecl-could-slow-overall-balance-sheet-growth-300656125.html SOURCE S&P Global Market Intelligence

US Bank profits projected to reach pre-crisis levels but CECL could slow overall balance sheet growth

LOS ANGELES, CA, May 16, 2018 (GLOBE NEWSWIRE) -- Agritek Holdings, Inc. (OTCQB: AGTK) www.AgritekHoldings.com , a fully integrated, active real estate investor for the cannabis sector and consultant for multiple cannabis brands, today announced that the Company has timely filed its 10Q for the Quarter Ended March 31, 2018. The Company has considerably reduced liabilities, substantially retired and consolidated old convertible debt repayments and increased equity infusions before quarter end. “This 10Q is yet another stepping stone towards our goal to become free of toxic debt and allows us to move forward with our newly developed revenue streams. With Agritek Holdings’ multiple equity investments in Colorado, Puerto Rico, Washington State and California, we can now turn our attention to the numerous revenue-generating projects the Company has initiated from the funding phase to now entering the post licensing and production phases,” stated B. Michael Friedman, CEO of Agritek Holdings Inc. With the Company’s new industrial Hemp farm in Colorado expected to move into production next month, we will also continue to sell our CBD product lines through both new distribution channels, including retail and e-commerce sites. Presently the Company has moved into raw isolate sales, including the sale of our CBD edibles and alternative delivery products. Expectations for the cannabidiol (CBD) market continue to look bright as estimates are projecting the market to grow by 700% by 2020, according to Forbes . A new report by cannabis/legal marijuana market analysts firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year's cannabidiol (CBD) market of $202 million. As the market continues to swell, it is expected the space will reach the billion-dollar status as product diversification and global demand drive revenue levels. One of the major drivers for the CBD market is the growing list of Health benefits of CBD oil. CBD oil products have several benefits and are believed to cure various ailments in the human body. Over the past few years, the demand for CBD oil has increased in different parts of the world because of the growing awareness about the health benefits alone. A full investor presentation on Agritek Holdings may be viewed in the investor section of our corporate website located at www.Agritekholdings.com About Agritek Holdings, Inc. Agritek Holdings, Inc. ( www.AgritekHoldings.com ), is a fully integrated, active investor and operator in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related holdings. Currently, the Company is focused on three high-value segments of the cannabis market, including real estate investment, intellectual property/brands, and infrastructure, with operations in three U.S. States, Canada and Puerto Rico. Agritek Holdings, Inc. presently owns or manages property in Colorado, Washington State, Puerto Rico, and Canada and has licenses with permitted facilities in California approved for cultivation as well as manufacturing capabilities. The company owns several Hemp and cannabis brands for distribution including "Hemp Pops", Hemp oil wellness products and "California Premiums". Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act, nor does it intend to do so in the future. FORWARD-LOOKING DISCLAIMER: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Agritek Holdings, Inc. to be materially different from the statements made herein. Agritek Holdings, Inc. www.AgritekHoldings.com 305.721.2727 info@agritekholdings.com Source:Agritek Holdings, Inc.

Agritek Holdings Inc. Announces Timely Filing of Quarterly Report, Now Focused On Revenue, Acquisitions, and International Growth For Profitability in 2018

Half-Day Event Featuring Disruptor 50 Companies to Be Held on May 23rd in Los Angeles Keynote Interview with Los Angeles Mayor Eric Garcetti ENGLEWOOD CLIFFS, N.J., May 16, 2018 – CNBC today announced the speaker lineup for the inaugural Disruptor 50 Roadshow event, which will take place on Wednesday, May 23rd at Hudson Loft in Los Angeles. This new half-day event will gather Disruptor 50 company founders, leaders and investors in thriving start-up communities to discuss the challenges and opportunities available to entrepreneurs and share actionable advice with engaged live audiences. The sixth annual CNBC Disruptor 50 list, an exclusive list of the most ambitious and innovative companies representing breakthrough ideas from all over the world, will be unveiled across CNBC's TV and Digital platforms on Tuesday, May 22nd. Confirmed speakers for Disruptor 50 Roadshow in Los Angeles include: Abhijit (Bobby) Bose , CEO and Co-Founder, Ezetap Mark Duplass , Filmmaker, Actor and Author Leura Fine, Founder and CEO, Laurel & Wolf Eric Garcetti, City of Los Angeles Mayor Katerina Schneider, Founder and CEO, Ritual Maria Molland Selby , CEO, THINX Dana Settle, Founding Partner, Greycroft Mark Suster , Managing Partner, Upfront Ventures Rodney Williams , Co-Founder and CEO, LISNR Sponsors for the event include Comcast NBCUniversal LIFT Labs and NetJets. The initial agenda, including the speaker lineup and session times and topics, will be available in the coming days. CNBC will host a second Disruptor 50 Roadshow event in Philadelphia in October. Details will be released in the coming weeks. For more information about Disruptor 50 Roadshow or to register to attend, go to: cnbc.com/D50Roadshow . About CNBC: With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to more than 409 million homes worldwide, including more than 91 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC Digital delivers more than 52 million multi-platform unique visitors each month. CNBC.com provides real-time financial market news and information to CNBC's investor audience. CNBC Make It is a digital destination focused on making you smarter about how you earn, save and spend your money by zeroing in on careers, leadership, entrepreneurship and personal finance. CNBC has a vast portfolio of digital products across a variety of platforms including: CNBC.com; CNBC PRO, the premium, integrated desktop/mobile service that provides live access to CNBC programming, exclusive video content and global market data and analysis; a suite of CNBC mobile products including the CNBC Apps for iOS, Android and Windows devices; and additional products such as the CNBC App for the Apple Watch and Apple TV. Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc . For more information about NBCUniversal, please visit http://www.NBCUniversal.com .

CNBC ANNOUNCES SPEAKER LINEUP FOR DISTRUPTOR 50 ROADSHOW

ZURICH, May 28 (Reuters) - The Swiss National Bank appears to have refrained from currency market intervention of late despite the safe-haven franc’s renewed strength, sight deposit data released on Monday suggest. Total sight deposits only edged up to 576.63 billion francs in the week ended May 25, from 576.38 billion the week before. A rise in sight deposits can indicate central bank intervention to weaken the franc. The franc rose to a two-month high against the euro last week as jitters over Italy’s political situation and U.S. tensions with Asia fuelled demand for the currency. The euro has fallen below 1.16 francs after last month briefly regaining the 1.20 level the SNB had set as a policy floor for three years until abandoning the peg in January 2015. The SNB has used negative interest rates and willingness to intervene on foreign exchange markets to rein in the franc, whose strength hamstrings the export-led Swiss economy. SNB officials have repeatedly said it was too early to shift away from their ultra-loose policy stance for fear of undoing years of work to curb the currency’s appreciation, calling the franc still highly valued in fragile markets. Currency specialist Thomas Stucki at St. Gall Kantonalbank said an “unpleasant summer” was shaping up for the SNB given ructions in euro zone countries. “It is hard to gauge at what level the SNB will intervene to stop the fall, but it will hardly be active above 1.10 (francs to the euro),” he said. (Reporting by Angelika Gruber Writing by Michael Shields Editing by Catherine Evans)

Sight deposit data suggest SNB on sidelines despite franc rise

May 9, 2018 / 7:33 PM / in 9 minutes CORRECTED-N. American gold ETF inflows at highest since September 2017 -WGC Reuters Staff 1 Min Read (Corrects headline and first paragraph September 2017, not February 2017) NEW YORK, May 9 (Reuters) - North American gold-backed exchange traded funds saw inflows in April at the highest since September 2017, as a U.S.-China trade war stand-off, tensions over Syria and worries over possible U.S. sanctions on Russia ushered in safe-haven purchases. This happened amid a strong U.S. dollar and expectations for the U.S. Federal Reserve to increase interest rates, which makes dollar-priced gold a less attractive investment since it does not draw interest. North American gold-backed ETFs rose 43.7 tonnes worth $1.9 billion in April, a 3.4 percent increase from the month prior, the World Gold Council said on Wednesday. European gold-backed ETF holdings increased by 27.1 tonnes worth $1.2 billion during the same period, after two consecutive months of outflows. View April 2018 gold-backed ETF flows: tmsnrt.rs/2jM8ewa Reporting by Renita D. Young Editing by Alistair Bell

N. American gold ETF inflows at highest since February 2017 -WGC

GLOBAL CRUDE FUTURES JUMP AS OIL MARKETS ADJUST TO PROSPECT OF RENEWED U.S. SANCTIONS AGAINST IRAN

GLOBAL CRUDE FUTURES JUMP AS OIL MARKETS ADJUST TO PROSPECT OF RENEWED U.S. SANCTIONS AGAINST IRAN

FRANKFURT/BERLIN, May 24 (Reuters) - The following are some of the factors that may move German stocks on Thursday: AUTOS The Trump administration has launched a national security investigation into car and truck imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March. Separately, China’s commerce ministry said on Thursday that the nation has good potential in cooperation with Germany in sectors such as digitalization, new energy cars, artificial intelligence and driverless cars. BAYER The United States is seeking better access for imports of genetically modified crops into China as part of a trade deal currently under discussion between the two sides, said two people familiar with the matter. DEUTSCHE TELEKOM Capital Markets Day due. THYSSENKRUPP Heinrich Hiesinger’s position as Thyssenkrupp’s CEO is more precarious than it has ever been as he prepares to unveil a new strategy to placate impatient investors, including Cevian and Elliott, people familiar with the matter said. INNOGY The group said it successfully placed two bonds worth a combined 1 billion euros. HORNBACH HOLDING Annual results due. JOST WERKE Q1 results due. ANNUAL GENERAL MEETINGS DEUTSCHE BANK - 0.11 euros/shr dividend proposed SALZGITTER - 0.45 euros/shr dividend proposed SMA SOLAR - 0.35 euros/shr dividend proposed UNITED INTERNET - 0.85 euros/shr dividend proposed INDUS HOLDING - 1.50 euros/shr dividend proposed EX-DIVIDEND AAREAL BANK - 2.50 eur/shr dividend EVONIK INDUSTRIES - 1.15 eur/shr dividend TAG IMMOBILIEN - 0.65 eur/shr dividend PFEIFFER VACUUM - 2.00 eur/shr dividend OVERSEAS STOCK MARKETS Dow Jones +0.2 pct, S&P 500 +0.3 pct, Nasdaq +0.6 pct at close. Nikkei -1.2 pct, Shanghai stocks unchanged. Time: 4.57 GMT. GERMAN ECONOMIC DATA German Q1 detailed GDP data due at 0600 GMT. Seen +0.3 pct q/q seasonally adjusted, +2.3 pct y/y. DIARIES REUTERS TOP NEWS (Reporting by Christoph Steitz and Victoria Bryan)

German stocks - Factors to watch on May 24

WASHINGTON (Reuters) - Uber had disabled an emergency braking system in a self-driving vehicle that struck and killed a woman in Arizona in March after failing to identify the pedestrian, the National Transportation Safety Board said in a preliminary report released on Thursday. The report said the modified 2017 Volvo XC90’s radar systems observed the pedestrian six seconds before impact but “the self-driving system software classified the pedestrian as an unknown object, as a vehicle, and then as a bicycle.” At 1.3 seconds before impact, the self-driving system determined emergency braking was needed. But Uber said emergency braking maneuvers were not enabled while the vehicle was under computer control in order to reduce the potential for erratic vehicle behavior. The Volvo XC90 is typically equipped with automatic emergency braking systems designed to prevent frontal crashes. Uber Technologies Inc, which voluntarily suspended testing in the aftermath of the crash in the city of Tempe - the first death involving a fully self-driving vehicle - said on Wednesday it would shut down its Arizona self-driving testing program and focus on limited testing in Pittsburgh and two cities in California. Arizona’s governor in March had suspended Uber’s permit for the testing, citing safety concerns. The company did not directly comment on the NTSB findings but noted it recently named a former NTSB chairman, Christopher Hart, to advise on Uber’s safety culture. “As their investigation continues, we’ve initiated our own safety review of our self-driving vehicles program,” the company said on Thursday, adding that it planned to announce changes in the coming weeks. All aspects of the self-driving system were operating normally at the time of the crash, and there were no faults or diagnostic messages, the NTSB said. The report gives new fuel to opponents in Congress who have stalled a bill designed to speed the deployment of self-driving cars on U.S. roads and puts a spotlight on the fact that the National Highway Traffic Safety Administration, which is also investigating, does not test self-driving vehicles or certify them before they are deployed on U.S. roads. William Wallace, senior policy analyst for Consumers Union, the advocacy division of Consumer Reports, called Uber “reckless” and said the NTSB report “makes it clear that a self-driving car was tested on public roads when it wasn’t safe enough to be there, and it killed a pedestrian.” He added that the system “was far too dangerous to be tested off a closed track.” Uber aims to resume self-driving operations this summer, likely with smaller routes and fewer cars, the company said on Wednesday. Uber has said it considers self-driving technology important to the future of its ride services, although it is not clear how it fits into the plans of new Chief Executive Dara Khosrowshahi. He has revamped the company structure and cut certain expenses as Uber prepares for an initial public offering next year. Elaine Herzberg, 49, was walking her bicycle outside the crosswalk on a four-lane road when she was struck by the Uber vehicle traveling at about 40 miles (64 km) per hour. A safety operator behind the wheel appeared to be looking down, and not at the road, moments before the crash, according to video from inside the car released by police. The operator told the NTSB she was not looking at a mobile phone but monitoring the vehicle’s self-driving systems. Tempe police said on Wednesday they had completed their investigation and turned the findings over the prosecutors to review. Police did not release the results of the probe. The NTSB said the Uber vehicle required the operator to intervene and take action, but the system is not designed to alert the operator. The report said the operator engaged the steering wheel less than a second before impact and began braking less than a second after impact. The report noted that Herzberg tested positive for methamphetamine and marijuana, and that she did not look in the direction of the vehicle until just before impact. The NTSB did not say when it would release its final report on the accident. The agency typically issues its final conclusions at least a year after an accident. It is also investigating a series of crashes involving Tesla Inc’s semi-autonomous “Autopilot” system after faulting the system last year after a fatal crash in Florida. FILE PHOTO: U.S. National Transportation Safety Board (NTSB) investigators examine a self-driving Uber vehicle involved in a fatal accident in Tempe, Arizona, U.S., March 20, 2018. A women was struck and killed by the vehicle on March 18, 2018. National Transportation Safety Board/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC124083F3B0 Reporting by David Shepardson; editing by Chizu Nomiyama and Dan Grebler

Uber self-driving car failed to recognize pedestrian, brake: U.S. agency

Ashburn, Virginia, May 24, 2018 (GLOBE NEWSWIRE) -- Carol Coletta has been elected to serve on the board of directors for the National Recreation and Park Association (NRPA) – the only nonprofit organization dedicated to public parks and recreation nationwide. She begins her three-year term at the 2018 NRPA Annual Conference , Sept. 25–27, in Indianapolis, Indiana. Coletta is a senior fellow with The Kresge Foundation’s American Cities Practice. She is currently on loan to the Memphis River Parks Partnership as the organization’s president and CEO. Prior to her service to Kresge, she was vice president of Community and National Initiatives for the John S. and James L. Knight Foundation and served as president and CEO of CEOs for Cities for seven years. Coletta also served as executive director of the Mayors’ Institute on City Design and was host and producer of Smart City, a nationally syndicated weekly public radio show. “Parks are critical infrastructure for cities,” said Coletta. “They are common ground that deliver multiple benefits to communities. Now, more than ever, we need places where we can all come together. I am proud to be joining the nation’s largest network of parks and recreation professionals.” “On behalf of the entire organization, I want to welcome Carol to the NRPA Board of Directors,” said Barbara Tulipane, CAE, NRPA president and CEO. “Her expertise and passion for parks and recreation is an excellent fit for our organization, and we look forward to working with her to further excel our organizational goals and mission.” “Carol’s work with the Kresge and Knight foundations is in perfect alignment with NRPA’s commitment to building healthier, resilient and more socially equitable communities throughout the country," said Jack Kardys, NRPA’s incoming chair. “Carol speaks the common language of building a connected public realm around great parks, public spaces and natural and cultural areas that gives a credible voice to NRPA’s 61,000 members who are the backbone of our nation's system of public parks." NRPA’s Board of Directors is composed of 15-30 individuals. Board members are representative of NRPA’s membership, which includes leaders in the park, recreation and conservation movement, park and recreation professionals, and individuals from corporations, industry suppliers, commercial businesses and volunteer and civic groups. To learn more about NRPA’s leadership team, click here . To learn more about NRPA, visit www.nrpa.org . ### About the National Recreation and Park Association The National Recreation and Park Association is a national not-for-profit organization dedicated to ensuring that all Americans have access to parks and recreation for health, conservation and social equity. Through its network of 60,000 recreation and park professionals and advocates, NRPA encourages the promotion of healthy and active lifestyles, conservation initiatives and equitable access to parks and public space. For more information, visit www.nrpa.org . For digital access to NRPA’s flagship publication, Parks & Recreation, visit www.parksandrecreation.org . Attachment Carol Coletta Heather Williams National Recreation and Park Association 703-858-4743 hwilliams@nrpa.org Source:National RecreationandPark Association

Carol Coletta Elected to Serve on the National Recreation and Park Association’s Board of Directors

Rudy Giuliani said Wednesday night that President Donald Trummp's motive for firing FBI Director James Comey nearly a year ago was that Comey would not say he wasn't a target of an investigation into potential collusion between Russia and the Republican's campaign. "He fired Comey because Comey would not — among other things — say that he wasn't a target of the investigation," said Giuliani, who last month joined Trump's legal team addressing special counsel Robert Mueller's Russia probe. "He fired him and he said, 'I'm free of this guy,'" Giuliani said of Trump's dismissal of Comey. Giuliani, a former federal prosecutor and mayor of New York, made the remarks in a wide-ranging interview with Fox News host Sean Hannity . Trump fired Comey as FBI director on May 9 last year. Comey has said and written about prior discussions with Trump in which the former FBI boss says the president sought personal loyalty. Trump also requested Comey let go a federal investigation into former national security advisor Mike Flynn . Trump has denied Comey's assertions. The administration has said Trump fired Comey over his handling of the investigations into Hillary Clinton during the campaign. But in an interview with NBC News' Lester Holt that aired two days after Trump fired Comey, the president said: "When I decided to just do it, I said to myself, I said, 'You know, this Russia thing with Trump and Russia is a made-up story.'" Deputy Attorney General Rod Rosenstein appointed Mueller, Comey's predecessor as FBI director, to take over the Russia probe after Trump fired Comey. Attorney General Jeff Sessions had recused himself from the investigation. Trump has often slammed Mueller, Sessions and Rosenstein, while calling the probe a "witch hunt." He has also repeatedly denied any collusion took place. Representatives for the White House did not immediately respond to CNBC's request for comment. —CNBC's Christina Wilkie contributed to this report.

Giuliani: Trump fired Comey because he wouldn't tell him he wasn't a target

48 Mins Ago | 03:38 American businesses should be involved in Saudi Arabia's plans to include nuclear power into its energy mix, according to a senior executive at engineering giant Bechtel. There is a "tremendous opportunity" for U.S. firms to get involved, Stuart Jones, regional president for Europe and Middle East at Bechtel, told CNBC's Hadley Gamble in Manama, Bahrain . "I think the question here is if the Saudis have taken the decision to include nuclear power in their energy mix, which they seem to have done, then this is certainly something where U.S. business should be involved," Jones said on Thursday. "I think this is something the Saudis would welcome and it's also something our government should welcome," he added. Earlier this year, Saudi Arabia's foreign minister called on the U.S. to give it the same rights as other nuclear nations in its push to process its own nuclear fuel. The official also revealed that the kingdom is in talks with other countries should America refuse. Saudi Arabia has said it plans to construct 16 nuclear power reactors over the next 20 to 25 years, costing more than $80 billion. It has invited U.S. firms to take part in the program but acceptance from Washington requires a country to sign a peaceful nuclear cooperation pact. That pact is known as a 123 agreement, which separates civil and military nuclear facilities. It also aims to block the steps countries can take to move from nuclear fuel production to potential bomb-making applications. "That negotiation is still going on (and) that also requires congressional approval," Jones said, adding he didn't know if such an approval will come. "We'll see. They're working at it and they've been very quiet about those negotiations. It's very hard to get information out of either the Saudis or the U.S. government exactly where that stands." Riyadh has previously stated it wants to tap its own uranium resources for " self-sufficiency in producing nuclear fuel ," according to Reuters. But the Saudi pursuit of nuclear energy has made many observers nervous. In March, Saudi Crown Prince Mohammed bin Salman told CBS News that, if Iran were to build a nuclear bomb, so would Saudi Arabia. On Tuesday, President Donald Trump announced he will withdraw the United States from the nuclear deal that was reached with Iran in 2015. As a result, the U.S. is set to restore far-reaching sanctions on the country . The landmark nuclear agreement had lifted sanctions on Iran. In exchange, it accepted limits on its nuclear program and allowed international inspectors into its facilities. — CNBC's Holly Ellyatt contributed to this report.

Bechtel executive: US firms should be involved in Saudi nuclear plans

May 11, 2018 / 8:41 AM / Updated an hour ago Hong Kong Q1 GDP grows 4.7 pct, best pace in nearly 7 years Reuters Staff 1 Min Read HONG KONG, May 11 (Reuters) - Hong Kong’s economy grew 4.7 percent in the first quarter from a year earlier, the government said on Friday, the fastest annual pace for any quarter in nearly seven years. The growth rate compares with an annual 3.4 percent in the last three months of 2017. The last time annual growth was faster than 4.7 percent was in April-June 2011, when it was 5.1 percent. In January-March, the economy expanded 2.2 percent from the previous quarter, on a seasonally-adjusted basis. The quarterly pace was faster than the fourth quarter’s 0.8 percent. The government is forecasting GDP growth of 3-4 percent this year. For full-year 2017, it reported 3.3 percent expansion. (Reporting by Donny Kwok and Twinnie Siu; Editing by Richard Borsuk)

Hong Kong Q1 GDP grows 4.7 pct, best pace in nearly 7 years

The U.S. dollar fell on Thursday against a basket of currencies, holding below its 2018 peak, as a smaller-than-expected increase in consumer prices reduced bets that inflation is accelerating, which could push the Federal Reserve to hike interest rates faster. The British pound hit a four-month low versus the greenback after the Bank of England left key borrowing costs unchanged but reduced its growth and inflation outlook for 2018 and 2019. Weaker price growth among major economies has reduced expectations that most central banks other than the Fed will reduce their bond purchases or raise interest rates. The U.S. Consumer Price Index, the government's broadest inflation gauge, increased 0.2 percent in April, while the CPI rate that excludes volatile food and energy prices edged up 0.1 percent. Economists polled by Reuters had forecast the CPI likely grew by 0.3 percent last month, and the core CPI gained 0.2 percent. "With the disappointment of the late CPI, it does knock the wind out of the dollar for a bit," said Mazen Issa, senior FX strategist at TD Securities in London. Lower U.S. Treasury yields added pressure on the greenback which had rallied for over two weeks on traders exiting their bearish bets on the dollar on signs of overseas growth, in particular in Europe, cooling quicker than the United States. show chapters Stocks taking rising yields and oil in stride 22 Hours Ago | 03:23 In afternoon trading, the dollar index was down 0.41 percent against a basket of six major currencies at 92.65 after hitting a 4-1/2-month high of 93.42 on Wednesday. Benchmark 10-year Treasury yield was down 2 basis points at 2.973 percent. The British pound was down 0.14 percent at $1.3525 after falling to $1.3460, the lowest level since Jan. 11 after the latest BOE statement.

Dollar in focus as rate advantages come under spotlight

As the founder of the world's largest hedge fund, Ray Dalio is successful by any standard. He took his company, Bridgewater Associates, from an operation running out of his two-bedroom New York apartment and turned it into a firm managing about $160 billion in assets — making him a billionaire along the way. To succeed like he did, there are two bad habits you need to nip in the bud, Dalio says in " Principles for Success ," an animated video series based on his book " Principles: Life & Work ." Tweet Both habits have to do with self-awareness, and they are problems anyone can fix. 1. Listening to your ego The first bad habit is believing you are always correct. "Because our need to be right can be more important than our need to find out what is true, we like to believe our own opinions without properly stress-testing them," Dalio says, meaning to offer up an idea for dispute by others. "We especially don't like to look at our mistakes and weaknesses." When our ideas and opinions are questioned, the natural reaction is to be defensive and angry. But that doesn't mean it's the right reaction. "This leads to our making inferior decisions, learning less, and falling short of our potentials," Dalio explains. To avoid this pitfall, he suggests viewing criticism as helpful feedback instead of as an attack. It's something the billionaire himself practices. For example, when Dalio received a harshly critical email about his performance during a meeting from a junior employee, he passed it along to all of Bridgewater . The email, which Dalio shared at a Ted Talk , read: Ray - you deserve a "D-" for your performance today in the meeting ... you did not prepare at all because there is no way you could have and been that disorganized. In the future, I/we would ask you to take some time and prepare and maybe even I should come up and start talking to you to get you warmed up or something but we can't let this happen again. If you in any way think my view is wrong, please ask the others or we can talk about it. "Isn't that great?" Dalio said to the Ted Talk crowd about the email. "It's great because I need feedback like that," he continued. "And it's great because if I don't let Jim and people like Jim express their points of view, our relationship wouldn't be the same." 2. Not realizing your blind spots "The blind-spot barrier is when a person believes he or she can see everything," Dalio explains in a "Principles for Success" video. And that mentality is a mistake: "It is a simple fact no one alone can see a complete picture of reality," he adds. Since people have varying strengths and weaknesses, Dalio says, the best outcomes are created with a wide range of perspectives. "While some people are better at seeing the big picture, others excel at seeing details," he continues. "Some are linear thinkers, and others are more lateral. While some are creative but not reliable, others are reliable but not creative." Organizational psychologist and Wharton professor Adam Grant agrees that sourcing a variety of opinions — even those you disagree with — improves idea generation. "Evidence shows that minority opinions improve decision-making even when they are incorrect," Grant tells CNBC Make It . "Your probability of making a smart decision or coming up with a creative solution to a problem actually goes up, and the reason for that is that dissenting opinions force us to reexamine our criteria, to reconsider our processes and all the options available. Instead of leading to convergent thinking they stimulate divergent thinking and really increase diversity of thought." show chapters Wharton Professor Adam Grant: Why Elon Musk wants his employees to always speak up 8:29 AM ET Fri, 28 July 2017 | 00:49 Even Amazon CEO (and the world's richest man) Jeff Bezos understands he isn't always going to be correct. To account for that, he asks a simple question: "Disagree and commit?" "If you have conviction on a particular direction even though there's no consensus," Bezos writes in Amazon's 2017 annual shareholder letter , "it's helpful to say, 'Look, I know we disagree on this but will you gamble with me on it? Disagree and commit?'" Bezos himself used this technique when deciding whether or not to produce a new project for Amazon Studios. He worried the production would be a flop. "I told the team my view: debatable whether it would be interesting enough, complicated to produce, the business terms aren't that good, and we have lots of other opportunities," Bezos writes. But, his team saw the situation differently. They wanted to move ahead with the project. Bezos decided to trust his team, despite their contrary opinion: "I wrote back right away with, 'I disagree and commit and hope it becomes the most watched thing we've ever made.'" It's unclear what happened to that show, but as Dalio says : "If we put it out there and then we have a thoughtful disagreement process, aren't we going to be better off?" Don't miss: Billionaire Ray Dalio shares a simple 5-step formula for new graduates (or anyone) to succeed Like this story? Like CNBC Make It on Facebook ! show chapters Billionaire hedge fund founder Ray Dalio uses 'radical transparency' to deliver feedback—here's how it works 9:12 AM ET Wed, 13 Sept 2017 | 01:18

Billionaire Ray Dalio: You need to quit these 2 bad habits to succeed

AUSTIN, Texas, May 10, 2018 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq:SCON) reported financial results for the quarter ended March 31, 2018. Jeff Quiram, STI’s president and CEO, stated, “In the first quarter of 2018, as previously announced, we expanded our Conductus® wire product development efforts related to next generation electric machines (NGEMs) with the US Department of Energy (DOE) and widened our NGEM scope to multiple applications. We are now implementing a 2018 plan focused on producing wire optimized to operate at low temperatures in the presence of a magnetic field, the characteristics necessary for success in NGEM applications. Our product improvements in late 2017 and planned development in 2018 align our roadmap with market demand as our customers seek to secure wire supply for future projects. “Regarding our NGEM project with the DOE, all of our partners in the program, TECO Westinghouse Motor Company, Massachusetts Institute of Technology, and the University of North Texas, are actively engaged as we integrate our efforts to complete the program objectives as outlined in the statement of work. We will be providing an annual review on milestone progress to the DOE in July.” In April, STI participated in the International Energy Agency (IEA) and The Institute of Electrical and Electronics Engineers (IEEE) conferences. The company engaged with its customers and other industry leaders to review how STI can help them capitalize on several accelerating energy megatrends: decentralized renewable energy, high energy efficiency, and sustainable transportation. First Quarter Highlights STI’s first quarter 2018 net revenues were $246,000, compared to $1,000 in the first quarter of 2017 and $305,000 in the fourth quarter of 2017. Net loss for the first quarter 2018 was $2.2 million, or a loss of $0.20 per basic and diluted share, compared to a net loss of $2.6 million, or a loss of $0.26 per basic and diluted share, in the first quarter of 2017, and a net loss of $1.9 million, or a loss of $0.17 per basic and diluted share in the fourth quarter of 2017. On March 7, 2018, STI raised approximately $1.7 million in net proceeds from a registered direct offering. As of March 31, 2018, STI had $2.9 million in cash and cash equivalents. Investor Conference Call STI will host a conference call and simultaneous webcast today, May 10 th , at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time to discuss its results. To listen to the call live, please dial 1-800-263-0877 at least 10 minutes before the start of the conference. International participants may dial 1-323-794-2094. The conference ID is 5629713. The call will be webcast and can be accessed from the “Investor Relations” section of the company’s website. A telephone replay will be available until midnight ET on May 14 th by dialing 1-844-512-2921 or 1-412-317-6671, and entering pass code 5629713. A replay will also be available at the web address above. About IEA The IEA works to ensure reliable, affordable and clean energy for its 30 member countries and beyond. Its mission is guided by four main areas of focus: energy security, economic development, environmental awareness and engagement worldwide. For more information about IEA’s efforts on HTS, please visit http://www.iea.org/tcp/end-use-electricity/hts/ . About IEEE IEEE and its members inspire a global community to innovate for a better tomorrow through its more than 423,000 members in over 160 countries, and its highly cited publications, conferences, technology standards, and professional and educational activities. IEEE is the trusted “voice” for engineering, computing, and technology information around the globe. For more information on IEEE, please visit https://www.ieee.org/ . About Superconductor Technologies Inc. (STI) Superconductor Technologies Inc. is a global leader in superconducting innovation. Its Conductus ® superconducting wire platform offers high performance, cost-effective and scalable superconducting wire. With 100 times the current carrying capacity of conventional copper and aluminum, superconducting wire offers zero resistance with extreme high current density. This provides a significant benefit for electric power transmission and also enables much smaller or more powerful magnets for motors, generators, energy storage and medical equipment. Since 1987, STI has led innovation in HTS materials, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than 20 years STI utilized its unique HTS manufacturing process for solutions to maximize capacity utilization and coverage for Tier 1 telecommunications operators. Headquartered in Austin, TX, Superconductor Technologies Inc.'s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com . Safe Harbor Statement Statements in this press release regarding our business that are not historical facts are " " that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause materially from the These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; our need to materially grow our revenues from commercial operations and/or to raise additional capital (which financing may not be available on acceptable terms or at all) in the very near future, before cash reserves are depleted (which reserves are expected to be sufficient into the third quarter of 2018), to implement our current business plan and maintain our viability; the performance and use of our equipment to produce wire in accordance with our timetable; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; the possibility of delays in customer evaluation and acceptance of our HTS wire; the limited number of potential customers and customer pressures on the selling prices of our products; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; the impact of competitive products, technologies and pricing; manufacturing capacity constraints and difficulties; the impact of any financing activity on the level of our stock price; the dilutive impact of any issuances of securities to raise capital; the steps required to maintain the listing of our common stock with a U.S. national securities exchange and the impact on the liquidity and trading price of our common stock if we fail to maintain such listing; the cost and uncertainty from compliance with environmental regulations; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers. Forward-looking statements can be affected by many other factors, including, those described in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of STI's Annual Report on Form 10-K for the year ended December 31, 2017 and in STI's other public filings. These documents are available online at STI's website, www.suptech.com , or through the SEC's website, www.sec.gov . Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any Investor Relations Contact Moriah Shilton or Kirsten Chapman LHA +1-415-433-3777 invest@suptech.com – Tables to Follow – SUPERCONDUCTOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2018 April 1, 2017 Commercial product revenues $ - $ 1,000 Government contract revenues 246,000 - Total revenues 246,000 1,000 Costs and expenses: Cost of commercial product revenues 639,000 862,000 Cost of government contract revenues 183,000 - Research and development 577,000 650,000 Selling, general and administrative 1,041,000 1,120,000 Total costs and expenses 2,440,000 2,632,000 Loss from operations (2,194,000 ) (2,631,000 ) Other Income and Expense: Adjustments to fair value of warrant derivatives 33,000 (3,000 ) Adjustment to warrant exercise price (24,000 ) - Other income 7,000 5,000 Net loss $ (2,178,000 ) $ (2,629,000 ) Basic and diluted net loss per common share $ (0.20 ) $ (0.26 ) Basic and diluted weighted average number of common shares outstanding 11,021,261 9,967,932 SUPERCONDUCTOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2018 2017 (Unaudited) (See Note) ASSETS Current Assets: Cash and cash equivalents $ 2,919,000 $ 3,056,000 Accounts receivable, net 181,000 151,000 Inventories, net 169,000 102,000 Prepaid expenses and other current assets 16,000 82,000 Total Current Assets 3,285,000 3,392,000 Property and equipment, net of accumulated depreciation of $11,511,000 and $11,200,000, respectively 1,486,000 1,793,000 Patents, licenses and purchased technology, net of accumulated amortization of $994,000 and $984,000, respectively 733,000 742,000 Other assets 69,000 69,000 Total Assets $ 5,573,000 $ 5,996,000 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 424,000 $ 349,000 Accrued expenses 422,000 481,000 Total Current Liabilities 846,000 830,000 Other long term liabilities 76,000 54,000 Total Liabilities 922,000 884,000 Commitments and Contingencies (Notes 5 and 6) Stockholders’ Equity: Preferred stock, $.001 par value, 2,000,000 shares authorized, 328,925 and 328,925 shares issued and outstanding, respectively - - Common stock, $.001 par value, 250,000,000 shares authorized, 11,936,594 and 10,746,594 shares issued and outstanding, respectively 12,000 11,000 Capital in excess of par value 318,430,000 316,714,000 Accumulated deficit (313,791,000 ) (311,613,000 ) Total Stockholders' Equity 4,651,000 5,112,000 Total Liabilities and Stockholders' Equity $ 5,573,000 $ 5,996,000 Note – December 31, 2017 balances were derived from audited financial statements. SUPERCONDUCTOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended March 31, 2018 April 1, 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (2,178,000 ) $ (2,629,000 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 323,000 568,000 Stock-based compensation expense 17,000 103,000 Adjustments to fair value of warrant derivatives (33,000 ) 3,000 Adjustment to warrant exercise price 24,000 - Changes in assets and liabilities: Accounts receivable (30,000 ) 9,000 Inventories (67,000 ) 15,000 Prepaid expenses and other current assets 68,000 90,000 Patents and licenses (1,000 ) (41,000 ) Other assets - 27,000 Accounts payable, accrued expenses and other current liabilities 45,000 (183,000 ) Net cash used in operating activities (1,832,000 ) (2,038,000 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (5,000 ) - Net proceeds from the sale of property and equipment - - Net cash used in investing activities (5,000 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Net proceeds from the sale of common stock 1,700,000 - Net proceeds from the exercise of outstanding warrants - - Net cash provided by financing activities 1,700,000 - Net decrease in cash and cash equivalents (137,000 ) (2,038,000 ) Cash and cash equivalents at beginning of period 3,056,000 10,452,000 Cash and cash equivalents at end of period $ 2,919,000 $ 8,414,000 Source:Superconductor Technologies Inc.

Superconductor Technologies Reports First Quarter 2018 Results

ATHENS (Reuters) - The family of the Texan teen gunman were “quiet, peaceable people” who never raised eyebrows in the Greek village where his father spent his youth, residents said on Saturday. A picture shows Dimitrios Pagourtzis, the suspect in the Santa Fe High School shooting in Santa Fe, Texas, U.S., in this undated picture obtained from social media, released on May 18, 2018. Courtesy GALVESTON COUNTY SHERIFF'S OFFICE/via REUTERS Dimitrios Pagourtzis, 17, opened fire in an art class in his Houston-area high school on Friday, killing nine students and a teacher in the fourth-deadliest mass shooting at a U.S. public school in modern history. Classmates described him as a quiet loner. Photographs posted on the Facebook page of the Greek Orthodox Church in Galveston pictured him dancing with other costumed performers. But elsewhere on social media and in journal entries, he came across as a young man infatuated with guns. A Facebook post on April 30 that has since been taken down showed a black T-shirt with the words “Born to Kill” printed in white. “We’re lost for words. We did not expect this,” said Costas Spanos, president of the Magoulitsa community, a tiny village in central Greece with just over 500 residents where his father, Antonios Pagourtzis, was born. “We’re in shock. We’re a small community and this makes us look very bad,” he told Reuters over the telephone. Antonios Pagourtzis emigrated to the United States in his mid-twenties but still visits the village at least once a year, in summer, and runs local a business selling agricultural machinery, one resident acquainted with him said. The family were “peaceable people, focused on work, business-minded,” he said, asking not to be identified. “He never caused trouble,” he said of the father. Dimitrios rarely visited the village - locals say they saw him either last summer or the summer before - but those who did say he was quiet and did not show signs of unusual behavior. “In my eyes, they showed good upbringing,” another long-time resident said, also requesting anonymity. “I saw them around. They were good people.” Reporting by Karolina Tagaris; Editing by Ros Russell

Greek village lost for words over news of Texan teen gunman

May 4 (Reuters) - AMP Ltd: * AMP SUBMISSION TO ROYAL COMMISSION * “WE HAVE TAKEN RESPONSIBILITY FOR ISSUES AND CONTINUE TO TAKE EXTENSIVE ACTION TO FIX THEM” * REAFFIRMS & REITERATES OUR UNRESERVED APOLOGY FOR FAILINGS IN RESPECT OF ADVICE AND SERVICE DELIVERY TO OUR CUSTOMERS * LODGED A SUBMISSION ADDRESSING EVIDENCE RECEIVED BY ROYAL COMMISSION IN ITS HEARINGS INTO FINANCIAL ADVICE IN RELATION TO FEES FOR NO SERVICE * AMP ACCEPTS FURTHER BOARD RENEWAL IS NECESSARY AND IS COMMITTED TO A MEASURED PROGRAM OF CHANGE * FEES FOR NO SERVICE ISSUES RAISED IN ROYAL COMMISSION HAVE BEEN SUBJECT OF ONGOING ASIC INVESTIGATION SINCE 2015 * TO DATE, FOR BROADER LICENSEE FEES FOR NO SERVICE ISSUE, WE HAVE REMEDIATED 15,712 CUSTOMERS, A TOTAL OF $4.7 MILLION * COMMITTED TO FASTRACKING SELECTION OF A CHAIRMAN AND APPOINTMENT OF A NEW NON- EXECUTIVE DIRECTOR * “ACKNOWLEDGES PROCESS HAS BEEN TOO SLOW AND IS COMMITTING ADDITIONAL RESOURCES AND EXPLORING NEW WAYS TO ACCELERATE THIS PROCESS” * “DENIES ALLEGATION BY COUNSEL ASSISTING THAT IT IS OPEN TO FIND THAT AMP HAS COMMITTED A CRIMINAL OFFENCE IN PROVIDING CLAYTON UTZ REPORT TO ASIC” * WORKPLACE INVESTIGATION COMMISSIONED BY BOARD REMAINS ONGOING & WILL BE USED TO DETERMINE ANY DISCIPLINARY CONSEQUENCES FOR INDIVIDUALS INVOLVED Source text for Eikon: Our

AMP Makes Submission To Royal Commission

May 9 (Reuters) - Idera Pharmaceuticals Inc: * IDERA PHARMACEUTICALS REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE * Q1 LOSS PER SHARE $0.10 * Q1 EARNINGS PER SHARE VIEW $-0.09 — THOMSON REUTERS I/B/E/S * AS OF MARCH 31, 2018, CASH AND CASH EQUIVALENTS TOTALED $107.5 MILLION COMPARED TO $112.6 MILLION AS OF DECEMBER 31, 2017 * SEES EXISTING CASH, CASH EQUIVALENTS AND INVESTMENTS WILL FUND OPERATIONS INTO Q3 OF 2019 Source text for Eikon: Further company coverage:

BRIEF-Idera Pharmaceuticals Reports Q1 Loss Per Share $0.10

May 1, 2018 / 8:04 AM / Updated 12 hours ago World of Warcraft goes offline to Czech forest David Cerny 1 Min Read PRAGUE (Reuters) - Czech web developer Vojtech Ruzicka ditched his laptop and urban Prague lifestyle and decamped to the forest dressed as a blue-faced shaman for a “World of Warcraft” reenactment game. Vojtech Ruzicka dressed as a character from the computer game "World of Warcraft" stands in a forest near the town of Kamyk nad Vltavou, Czech Republic, April 28, 2018. Picture taken April 28, 2018. REUTERS/David W Cerny The 26-year-old was one of around 150 people who took part in a two-day live action battle between orcs, elves, knights and other fantasy characters from the online role-playing game that has become a cultural phenomenon since launching in 2004. Ruzicka designed and made his own fur lined flowing gowns, decorated with skulls. To complete his costume, he painted his face blue and dyed his beard a glowing orange before taking his place in the forest as the Azeroth fighters defended their planet against the Burning Legion. “I always forget the real world, it relaxes my mind,” he told Reuters. The event, which concluded on Sunday at Kamyk nad Vltavou, 70km (40 miles) south of Prague, has been going for 16 years. Slideshow (16 Images)

World of Warcraft goes offline to Czech forest

Special counsel Robert Mueller is used to getting kid-glove treatment. That changed Friday in a federal courtroom in Virginia, where Judge T.S. Ellis directed a blunt challenge to the Mueller team prosecuting former Trump campaign manager Paul Manafort on charges of tax and bank fraud, some of which date back to 2005. “I don’t see what relation this indictment has with what the special counsel is authorized to investigate. You don’t really care about Mr. Manafort’s bank fraud,” Judge Ellis told Michael Dreeben, who was representing...

Judge to Mueller: Show Me the Mandate

WASHINGTON (Reuters) - The White House plans to convene a meeting on Thursday on the future of artificial intelligence in U.S. industry with major companies including Facebook Inc, Amazon.com Inc, Google parent Alphabet Inc and Oracle Corp as well as senior government officials. The White House is seen with the Washington Monument (L) behind it and the Jefferson Memorial (R) in Washington, May 1, 2011. REUTERS/Gary Hershorn/Files Intel Corp CEO Brian Krzanich and the chief technical officers of Ford Motor Co and Boeing Co are also due to take part in the event, along with executives from Mastercard Inc, Microsoft Corp and Accenture, administration and industry officials said. The Pentagon and the U.S. departments of agriculture, commerce, energy, health, labor and transportation are due to take part in the daylong meeting that will look at artificial intelligence (AI) innovation and research and development and removing barriers to its application. AI and machine learning, with their growing capabilities and application, are expected to have far-reaching implications for a range of industries and the U.S. economy, according to experts. Dean Garfield, president and chief executive of the Information Technology Industry Council, called the event “an important step to building collaboration between government and industry.” “The tech sector is committed to ensuring that all Americans reap the benefits of this transformative technology, which has the potential to save lives, improve how we harvest food, transform education and more,” Garfield said. Britain last month announced a 1 billion pound ($1.4 billion) joint investment in the AI industry, while the European Union announced it would boost AI investment by about 70 percent to 1.5 billion euros ($1.8 billion) by 2020. Gary Shapiro, president and CEO of the Consumer Technology Association, said in a Fox News opinion piece published on Tuesday that as AI accomplishes more complex tasks “it will transform economies, industries and our everyday lives. It will also raise questions about its impact on our economy and jobs.” Professional services firm PwC forecast last year that aggregate worldwide gross domestic product will be 14 percent higher in 2030 as a result of AI and will impact retail, financial services and healthcare. Reporting by David Shepardson; Editing by Will Dunham

White House to hold artificial intelligence meeting with companies

May 21, 2018 / 7:42 AM / Updated 4 hours ago Tropical cyclone hits Somaliland killing at least 15 people: governor Abdiqani Hassan 2 Min Read BOSASO, Somalia (Reuters) - At least 15 people have died in Somaliland after heavy rains caused by tropical cyclone Sagar which landed in the Horn of Africa over the weekend. A resident evacuates furniture after rain water flooded his home in Mogadishu, Somalia May 21, 2018. REUTERS/Feisal Omar Situated at the northern tip of east Africa on the Gulf of Aden, Somaliland broke away from Somalia in 1991. “In the last 24 hours, heavy stormy rains killed 15 people in the districts of Lughaya and Baki,” Abdirahman Ahmed Ali, governor of the Awdal area told reporters on Sunday. Residents evacuate their furniture after rain water flooded their home in Mogadishu, Somalia May 21, 2018. REUTERS/Feisal Omar “The Somaliland government has started giving emergency help to the victims.” Slideshow (2 Images) Meanwhile in Puntland, a semi-autonomous northeastern region of Somalia, storms caused by the cyclone took away two men and their car from a valley in the city of Bosaso, Yusuf Mohamed Waeys, the governor of Bari in Puntland told Reuters on Sunday. The UN Office for the Coordination of Humanitarian Affairs said thousands of people have been affected by the flooding, displacement and the destruction of infrastructure in Sagar’s wake. “The cyclone has worsened the humanitarian situation in the two states and disputed regions, which have experienced protracted drought dating back to 2015, leaving them particularly prone to flash flooding in the direct aftermath of massive downpours,” it said in a statement. Puntland and Somaliland have been engaged in conflict over the disputed Sool region for more than 10 years. People who live there are divided over which side to back. Last week, dozens of people were killed in clashes between troops from the two sides. “Due to the dispute over the regions of Sool and Sanaag and lack of access to some affected areas after the destruction of roads, the situation of affected populations and impediments caused by blocked roads and failed communications, the extent of the damage is yet to be fully confirmed,” the UN said. Reporting by Abdiqani Hassan; Writing by Omar Mohammed; Editing by Toby Chopra

Tropical cyclone hits Somaliland killing at least 15 people: governor

NEW YORK (Reuters Breakingviews) - Ever since 1633 when Galileo was found guilty of heresy for arguing the earth rotates around the sun, the Catholic Church has gotten a bad rap over its approach to science. So it’s somewhat surprising to see a group of nuns and church officials leading a campaign to harness technology and science to help resolve America’s tragically exceptional level of gun violence. Rifles are seen at the Sturm, Ruger & Co., Inc. gun factory in Newport, New Hampshire January 6, 2012. REUTERS/Eric Thayer Taking on the U.S. firearms lobby may not be quite as big a lift as proving our planet is the center of the universe. But in the highly partisan soup of American politics, it’s no small endeavor. And it comes to a head on Wednesday in the Arizona desert, where the sisters will exhort the shareholders of gunsmith Sturm, Ruger to embrace innovations in safety as a path to sustainable profitability. Their prayers deserve to be answered, and not just for moral reasons. Sturm’s annual meeting is taking place in Prescott, Arizona, a city of 39,000 situated two hours from Phoenix – and 2,500 miles from Sturm’s headquarters in tony Southport, Connecticut. The Sisters of the Holy Names of Jesus and Mary of Marylhurst, Oregon are asking stockholders to vote on a proposal requiring Sturm to issue a report on its “activities related to gun safety measures and the mitigation of harm associated with gun products.” Sturm’s account of its business, to be produced at reasonable expense, should cover three main issues, according to its proposers. They want a rundown of how the $1 billion Sturm monitors violent events associated with its products; an assessment of the corporate reputational and financial risks related to gun violence; and lastly, but perhaps most critically from a capitalist perspective, more information on its efforts to research and produce safer guns and gun products. “Since 1987 Sturm, Ruger products have been used in seven mass shootings, responsible for killing 60 people and wounding 70 more,” the sisters argue in their plea to stockholders. “Evidence shows that the American public, in ever greater numbers, is demanding safer guns and responsible firearm manufacturers. We urge shareholders to vote for this proposal.” Colleen Scanlon, the chief advocacy officer for Catholic Health Initiatives, which operates hospitals and care sites in 18 states, will be in Prescott to put forward the motion. She’s not bringing a bodyguard, she says, “but maybe a little of the Holy Trinity.” Anyway, she scoffs at the idea that she should be perceived as anything but an engaged shareholder. “We really want to work with what we see as our companies.” She won’t be alone in that broad endeavor. By dint of its inclusion in various stock market indexes, Sturm’s largest shareholder is BlackRock with a 16 percent holding, according to Eikon. The giant asset manager is also the top investor in American Outdoor Brands, the parent of Smith & Wesson, with a 10.5 percent stake. A similar motion filed by the sisters will be put to a vote at that company’s annual meeting in the autumn. Even getting such proposals onto the agenda again at next year’s annual meetings – which requires the backing of 3 percent of shareholders this time – is a win, Scanlon argues, because it means investors must keep thinking about the issues. Over time, that “can influence corporate behavior,” in the same way that shareholders eventually compelled Exxon Mobil to disclose the impact on its business of compliance with global climate-change guidelines. Scanlon could find BlackRock in her corner, though the fund giant hasn’t said how it will vote. Chief Executive Larry Fink argued earlier this year that “companies, both public and private, serve a social purpose.” Since BlackRock manages $6 trillion, making it the largest fund manager in the world, Fink’s demand that firms not only deliver financial performance but show how they make a positive contribution to the communities in which they operate was a shot heard round the corporate universe. Even if only one big fund manager votes its holdings in favor of the proposal – aside from BlackRock, Vanguard has 9.5 percent of Sturm and State Street 2.5 percent – the sisters could probably get their proposal considered again next year. But 3 percent is a low bar. All shareholders have reasons to favor the sisters’ plan on investment grounds, even if they don’t want to associate themselves with the ethical or moral questions it raises. The reputational risk is a valid concern, for one thing. That’s partly why proxy advisers Institutional Shareholder Services and Glass Lewis are backing the proposal. And for another, shareholders should want to know how Sturm and American Outdoor Brands are approaching the adoption of new technology in their products, especially as it relates to safety. Biometrics and facial recognition are becoming common on iPhones, but the gun makers’ response to the idea of adopting such things for their products has, thus far, been downright luddite. Sturm, which opposes the nuns’ resolution, said: “Despite assertions to the contrary, effective ‘smart gun’ technology does not exist; those devices advanced thus far have proven unreliable, easily defeated, or both.” The company added: “Fundamentally, the advocated purpose of so-called ‘smart guns’ is to prevent unauthorized access to firearms.” Well, yes, that’s the point, says Sister Judy Byron, an Adrian Dominican congregant leading Seattle’s Northwest Coalition for Responsible Investment, which filed the American Outdoor Brands proposal. She’s not a gun expert, but she’s right in saying that Sturm and Smith & Wesson are skilled at creating appetite for their products. For now, they primarily use fear of random acts of violence and the prospect of new firearms regulations to gin up sales – with assistance from the National Rifle Association, which just hired as its new president Oliver North, a central figure in the 1980s Iran-Contra affair in which the U.S. government secretly helped sell arms illegally to Iran. While Sturm and its peers may not be satisfied with the state of current smart-gun technology, to dismiss it out of hand hardly sounds like the sort of long-term thinking that shareholders, such as BlackRock, would desire. Gunsmiths might be able to charge a premium for innovative features at a moment when gun sales are flagging (background checks fell 20 percent in April from March, according to the FBI). To ignore the possibility suggests a lack of vision. After all, when an iPhone is lost, it’s easy to find. It comes installed with a chip that enables location targeting, as well as software encryption that makes it difficult, even impossible, for someone other than its rightful owner to use it. The maker of an AR-15 assault-style rifle with a 30-round magazine capable of killing dozens of people in minutes, should be intrigued by technology that ensures it can be tracked if it goes missing and that only its rightful, background-checked owner can use it. Surely Sturm, Ruger and the rest would embrace that kind of safety feature – wouldn’t they? Breakingviews Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com . All opinions expressed are those of the authors. 0 : 0 narrow-browser-and-phone medium-browser-and-portrait-tablet landscape-tablet medium-wide-browser wide-browser-and-larger medium-browser-and-landscape-tablet medium-wide-browser-and-larger above-phone portrait-tablet-and-above above-portrait-tablet landscape-tablet-and-above landscape-tablet-and-medium-wide-browser portrait-tablet-and-below landscape-tablet-and-below Apps Newsletters Reuters Plus Advertising Guidelines Cookies Terms of Use Privacy All Quote: s delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved.

Breakingviews - Cox: Guns, nuns and funds get ready to rumble

May 15 (Reuters) - Dogi International Fabrics SA: * REPORTED ON MONDAY Q1 NET LOSS AT 3.5 MILLION EUROS VERSUS LOSS OF 0.4 MILLION EUROS YEAR AGO * Q1 EBITDA LOSS AT 1.7 MILLION EUROS VERSUS POSITIVE EBITDA OF 0.5 MILLION EUROS YEAR AGO * Q1 NET SALES AT 16.0 MILLION EUROS VERSUS 15.8 MILLION EUROS YEAR AGO Source text for Eikon: Further company coverage: (Gdynia Newsroom) Our Standards: The Thomson Reuters Trust Principles.

BRIEF-Dogi Q1 Net Loss Widens To 3.5 Mln Euros

WASHINGTON—Longtime Washington lawyer Emmet Flood will take over as the top White House lawyer representing President Donald Trump in the special counsel’s investigation, replacing Ty Cobb once he leaves his role at the end of the month, according to a person familiar with the matter. Mr. Flood has been in talks with the White House about joining the administration in some capacity for months, according to people familiar with the matter. ...

Ty Cobb Leaving Donald Trump’s Legal Team

May 3 (Reuters) - Hubei TKD Crystal Electronic Science and Technology Co Ltd: * SAYS BOARD ELECTS YU XINDONG AS CHAIRMAN Source text in Chinese: bit.ly/2FDkO9z (Reporting by Hong Kong newsroom) Our

Hubei TKD Crystal Electronic Elects Yu Xindong As Chairman

May 28, 2018 / 8:39 PM / Updated 2 hours ago CANADA STOCKS-TSX hits two-week low as resource shares lead declines Reuters Staff 2 Min Read (Adds details throughout; updates prices to close) TORONTO, May 28 (Reuters) - Canada’s main stock index fell to a more than two-week low on Monday as weaker oil prices pressured energy shares, while materials and financials also lost ground. * The Toronto Stock Exchange’s S&P/TSX composite index ended down 59.53 points, or 0.37 percent, at 16,016.14, its lowest close since May 11. * The decline for the index came as U.S. markets were closed for Memorial Day and as looming early elections in Italy weighed on European stocks. * The TSX’s energy group retreated 0.8 percent, with major oil producer Suncor Energy Inc down 1.2 percent at C$50.17. * U.S. crude prices were down 2.1 percent at $66.47 a barrel as Saudi Arabia and Russia said they may increase supplies while U.S. production gains show no sign of slowing. * Bank of Montreal and Canadian Imperial Bank of Commerce said that cyber attackers may have stolen the data of nearly 90,000 customers in what appeared to be the first significant assault on financial institutions in the country. * Shares of both banks ended little changed but the overall financials group declined 0.2 percent. * Nine of the index’s 10 main groups ended lower. * The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent. * Bombardier Inc said it had completed the sale of 30 CS300 aircraft to Latvia’s Air Baltic Corp, valuing the firm order at about $2.9 billion based on the list price. The company’s shares rose 4.4 percent to C$4.56. * Shares of WestJet Airlines rose 2.5 percent to C$20.88. Pilots who fly for the company’s budget carrier Swoop will now be unionized, a concession which resolves a key obstacle in a labor dispute with the airline, a negotiator with the Air Line Pilots Association said. (Reporting by Fergal Smith Editing by James Dalgleish and Tom Brown)

CANADA STOCKS-TSX hits two-week low as resource shares lead declines

May 2, 2018 / 6:11 PM / Updated 16 minutes ago Apple services segment faces margin, competitive challenges Stephen Nellis 4 Min Read (Reuters) - Apple Inc is betting on services such as app downloads and music subscriptions to help drive growth as the cell phone market matures, but the company faces tough competitors and potentially low profit margins in some of its target areas. FILE PHOTO - An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo Investors support Apple’s effort to look beyond its signature product, the iPhone, for growth. A 31 percent increase in services revenue to $9.2 billion was a bright spot in earnings reported on Tuesday, lifting overall gross margins as well as sales, the company said. Apple subscribers, who include customers paying for third-party apps on iPhones, rose 100 million in the last year to 270 million. But profitability varies widely among service offerings, and some businesses appear to have lower profit margins than the 38.3 percent company-wide figure Apple reported. The App Store and iCloud storage are similar to high-margin software businesses while entertainment, such as Apple Music and a nascent video business, are similar to lower-margin media businesses. “Some of these services are for sure going to have much lower margins” than Apple’s core hardware business, said Bob O’Donnell of TechAnalysis Research. Apple’s music effort likely “can’t be dramatically different from Spotify or Pandora or any of those companies. My guess is the next few Apple services aren’t going to be investment-light services, with content being the preeminent example.” Chief Financial Officer Luca Maestri said he expects services to boost margins but allowed for uncertainties due to product mix. “As we’re able to grow the services business, that should provide a positive (to margins), a tailwind,” Maestri said in an interview. “At the same time, within the services portfolio that we have, we have services that have different levels of profitability, so we also need to take into account the mix of services we’re going to be selling.” The App Store is the largest component of the services segment, Maestri told Reuters. Apple receives 30 percent of the price of one-time app purchases and purchases made within apps, such as items in video games, and 15 percent of App Store subscriptions to services like Netflix Inc after a year. That is a high-margin business, but the company has been in it for a decade. “App revenue probably hasn’t peaked, but it isn’t the long-term future either,” said Julie Ask, an analyst with Forrester Research. Apple’s iCloud online storage business revenue rose 50 percent in the most recent quarter, likely with high margins. Dropbox Inc, for example, had gross margins of 68 percent in 2017 when excluding stock compensation costs. CHALLENGES IN ENTERTAINMENT Entertainment, though, is a tougher business where Apple may have to spend substantially to compete with entrenched rivals. Apple has an installed base of 1.3 billion gadgets, but many play competitors’ entertainment. Apple’s servicers could be “hard to grow in the face of the competitive monsters who have more history and deeper relationships with services customers,” said Erik Gordon, a professor at the University of Michigan Ross School of Business. Apple Music has grown rapidly to 40 million paid users and 8 million trial users since launching in 2015, but its chief rival, Spotify Technology SA, had gross margins of 20 percent for 2017, due to the cost of music rights. And Apple plans to spend $1 billion developing original video content, although it doesn’t charge for its shows on its Apple TV device. Netflix’s so-called “contribution margin” for its streaming business - the metric the company uses to gauge margins on that segment - was 37 percent in 2017. “Look at what Netflix and Amazon are doing. Those guys are spending hundreds of millions if not billions of dollars on content,” O’Donnell said. Reporting by Stephen Nellis; editing by Peter Henderson and Cynthia Osterman

Apple services segment faces margin, competitive challenges

PITTSBURGH, May 2, 2018 /PRNewswire/ -- Cohen & Grigsby, P.C. is pleased to announce that Morgan Hanson has been appointed chair of the litigation practice, and Barbara Scheib has been appointed as director of litigation strategy. "Morgan has played an integral part in the strategic planning process, and through his understanding of the firm, the litigation team, and our objectives, will be able to provide the guidance needed to execute on the strategic implementation efforts in this new leadership role," Christopher Carson, president and CEO, Cohen & Grigsby. "We are also looking forward to Barb continuing in this strategic leadership role." Cohen & Grigsby litigators represent clients across the spectrum of commercial and business disputes, including: business breakups, insurance coverage disputes, theft of trade secret and non-compete agreements, securities law violations, accounting firm defense and shareholder issues. Mr. Hanson has experience in corporate governance litigation, including minority shareholder oppression claims, share appraisal actions and partnership dissolutions. He is also experienced in banking and lender liability litigation, procurement litigation, and insurance coverage litigation. Currently serving as solicitor to the Sports & Exhibition Authority of Pittsburgh and Allegheny County (SEA), Mr. Hanson oversees the legal functions of properties owned and leased by The Authority including PNC Park, Heinz Field, PPG Paints Arena, David L. Lawrence Convention Center, two parking facilities and riverfront parks. Ms. Scheib has been a director of the firm since 2005 and has served as chair of the litigation group and chair of the recruiting committee. Her legal practice focuses on commercial litigation, including disputes between competitors, trade secret misappropriation, false advertising, intellectual property litigation and non-compete covenant and other employee mobility disputes. Ms. Scheib has served as lead counsel in jury trials, bench trials and arbitrations. For more information about Cohen & Grigsby, please visit cohenlaw.com . ABOUT COHEN & GRIGSBY Since 1981, Cohen & Grigsby, P.C. and its attorneys have provided sound legal advice and solutions to clients that seek to maximize their potential in a constantly changing global marketplace. Comprised of more than 140 lawyers, Cohen & Grigsby maintains offices in Pittsburgh, PA and Naples, Fla. The firm's practice areas include Business Services, Labor & Employment, Immigration/International Business, Intellectual Property, Real Estate & Public Finance, Litigation, Employee Benefits & Executive Compensation, Estates & Trusts, Bankruptcy & Creditors Rights, and Public Affairs. Cohen & Grigsby represents private and publicly held businesses, nonprofits, multinational corporations, individuals and emerging businesses across a full spectrum of industries. Our lawyers maintain an unwavering commitment to customer service that ensures a productive partnership. For more information, visit cohenlaw.com . Contact: Christine Mazza 412.297.4900 Cmazza@cohenlaw.com View original content with multimedia: http://www.prnewswire.com/news-releases/cohen--grigsby-appoints-new-leadership-of-litigation-practice-300641402.html SOURCE Cohen & Grigsby, P.C.

Cohen & Grigsby Appoints New Leadership of Litigation Practice

LONDON (Reuters) - It has been 15 years since Williams last won in Monaco, with Juan Pablo Montoya in 2003 after team mate Ralf Schumacher started from pole position, but scoring even a point would be something this weekend. F1 Formula One - Williams Formula One Launch - London, Britain - February 15, 2018 Williams' Chief Technical Officer Paddy Lowe during the launch Action Images via Reuters/Paul Childs Once a dominant team of champions, with nine constructors’ crowns and 114 grand prix wins, Williams return to the principality as tail-enders — last overall and with just four points from five races. While that is better than 2013, when Williams failed to score in the opening nine races and ended the campaign with a mere five points, the slump has still been a shock to the system and there seems to be no quick fix. At Spain’s Circuit de Catalunya the weekend before last, Russian rookie Sergey Sirotkin was last of those still running at the chequered flag while Canadian team mate Lance Stroll was 11th of 14. Sirotkin has yet to open his account while all four points to date were produced by Stroll in one race — in Azerbaijan last month. Processional Monaco offers little — for the team that took Alan Jones, Keke Rosberg, Nelson Piquet, Nigel Mansell, Alain Prost, Damon Hill and Jacques Villeneuve to titles — to get too excited about. “I think what we’ve seen is that the issues we have are better and worse at different circuits,” said technical head Paddy Lowe after the race in Barcelona, a track he described as particularly unforgiving. “Monaco will be another thing altogether. I’m not going to predict where that lands, we’ll have to see.” NOT GOOD ENOUGH Williams clambered back to finish third overall in 2014 and 2015, impressive for a privately-owned family team operating on a far smaller budget than the manufacturers, and have been fifth for the past two years. But they have plenty to work on before they can start climbing back up the table again, with the Mercedes-powered car unbalanced and hard to handle. The lack of performance, despite having the best engines available, is also likely to have a commercial impact. Title sponsors Martini have already announced they are off at the end of the year. “We all carry responsibility. The car isn’t good enough, it’s not what it should be,” said Lowe in Barcelona. “There are some issues with it, which fortunately we think we understand and we’re very busy doing a lot of work to fix those issues. “We’re not writing off this season,” he added. While Lowe was reluctant to give details, the car appears to be suffering an aerodynamic issue with the rear floor. Lowe said that the problems were apparent right from the start of testing in March, with the drivers — the sport’s youngest and least experienced lineup — unable to drive it anywhere near the limit. “You see the pace is really quite bad,” said Lowe. “There are many things that are good about the car and they are unable to show themselves because the car is let down by one particular aspect,” said the Briton. “We have put in place...a recovery program to bring back the performance, bring back the car to the level at which we intended to operate and that program is timed up to the mid-season point. “We just lost our way in some critical areas which we now understand.” Reporting by Alan Baldwin, editing by Toby Davis

Motor racing: Williams head to Monaco with more pain in prospect

May 2 (Reuters) - Novartis AG: * HEALTH CANADA APPROVES KISQALI™ FOR THE TREATMENT OF HR-POSITIVE AND HER2-NEGATIVE METASTATIC BREAST CANCER IN POSTMENOPAUSAL WOMEN IN COMBINATION WITH LETROZOLE AS AN INITIAL ENDOCRINE-BASED THERAPY Source text for Eikon: Further company coverage:

BRIEF-Novartis Says Health Canada Approved Kisqali As Initial Therapy For Certain Breast Cancer Patients

Europe, like the U.S., is getting higher bond yields—but for the wrong reason. The re-emergence of political risk in Italy thanks to the formation of an antiestablishment government risks resurrecting bad memories of the eurozone crisis, when contagion spread across the continent. For now, though, Italian misery may stay within its borders. Italian yields climbed again Friday as the 5 Star Movement and the League agreed on a government program that includes tax cuts and scrapping pension reforms, reinforcing worries about... To Read the Full Story Subscribe Sign In

Italian Bonds: Out in the Cold

JAKARTA, May 14 (Reuters) - Indonesia's motorcycle sales rose 49.7 percent in April from a year earlier, industry association figures showed on Monday. Sales reached 580,921 units in April, up from 388,045 units in the same period a year ago, and 8.5 percent higher than the 535,371 bikes sold in March. Motorbikes are hugely popular in Indonesia, Southeast Asia's biggest economy, and their sales are a key indicator of consumption demand. Honda Motor Co Ltd, Yamaha Motor Co Ltd and Suzuki led the sales in April, data showed. Sales volume based on data from industry association, AISI, is as follows: Month Volume m/m y/y (in pct) (in pct) 2018 Apr 580,921 +8.5 +49.7 Mar 535,371 +21.8 +13.0 Feb 439,586 -8.9 -3.1 Jan 482,537 +16.0 +1.8 2017 Dec 415,996 -24.4 -5.0 Nov 550,303 -5.0 -3.6 Oct 579,552 +6.0 +1.5 Sept 546,607 -1.5 -1.7 Aug 554,923 +3.1 +5.2 July 538,176 +41.8 +76.4 June 379,467 -28.6 -26.9 May 531,496 +37.0 +15.2 Apr 388,045 -18.1 -18.8 (Reporting by Nilufar Rizki Editing by Sunil Nair)

Indonesia's April motorcycle sales rise 49.7 pct y/y

May 7 (Reuters) - Myers Industries Inc: * MYERS INDUSTRIES REPORTS 2018 FIRST QUARTER RESULTS * Q1 ADJUSTED EARNINGS PER SHARE $0.24 FROM CONTINUING OPERATIONS * Q1 GAAP EARNINGS PER SHARE $0.25 FROM CONTINUING OPERATIONS * Q1 SALES $152.6 MILLION VERSUS $136.6 MILLION * MYERS INDUSTRIES - FOR FISCAL YEAR 2018, CONTINUES TO ANTICIPATE THAT TOTAL REVENUE WILL BE UP LOW-TO-MID SINGLE-DIGITS ON CONSTANT CURRENCY BASIS * EXPECTS CAPITAL EXPENDITURES TO BE IN RANGE OF $10 MILLION TO $12 MILLION FOR 2018 * EXPECTS CAPITAL EXPENDITURES TO BE IN RANGE OF $10 TO $12 MILLION, NET INTEREST EXPENSE TO BE BETWEEN $7 AND $8 MILLION IN 2018 Source text for Eikon: Our

Myers Industries Reports Q1 Adjusted Earnings Per Share Of $0.24 From Continuing Operations