Datasets:

harshita23sh

/

us-financial-data-transformation

like 1

HONOLULU, May 1, 2018 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $14.2 million, or $0.33 per diluted share, for the quarter ended March 31, 2018. Net income for the quarter ended March 31, 2017 was $7.0 million, or $0.16 per diluted share. Consolidated revenue for the first quarter 2018 was $511.4 million compared with $474.4 million reported for the first quarter 2017. Matt Cox, Matson's Chairman and Chief Executive Officer, commented, "Matson is off to a good start to this year with both Ocean Transportation and Logistics exceeding expectations for the quarter. Our year-over-year improvement in Ocean Transportation was primarily the result of lower vessel operating costs, a higher contribution from SSAT, higher volume in our Alaska service and the timing of fuel surcharge collections, partially moderated by lower volume in China and continued competitive pressure in Guam. In Logistics we saw improved performance in almost all service lines." Mr. Cox added, "For 2018, we continue to expect improvements in each of our core tradelanes with the exception of Guam and China. In Guam, we expect to face continued competitive pressure, and in China we continue to expect modestly lower volume coming off an exceptionally strong 2017. As a result of the first quarter performance, we now expect Matson's 2018 operating income to be modestly higher than the level achieved in 2017." First Quarter 2018 Discussion and Outlook for 2018 Ocean Transportation: The Company's container volume in the Hawaii service in the first quarter 2018 was 1.9 percent lower year-over-year due primarily to lower eastbound volume as westbound volume was essentially flat. The Hawaii economy continues to be strong, supported primarily by healthy tourism activity and low unemployment. The Company expects flat-to-modest volume growth in 2018, reflecting a solid Hawaii economy and stable market share. In China, the Company's container volume in the first quarter 2018 was 22.2 percent lower year-over-year largely due to two fewer sailings and lower volume during the Lunar New Year period. Matson continued to realize a sizeable rate premium in the first quarter 2018 and achieved average freight rates moderately higher than the first quarter 2017. For 2018, the Company expects pricing to remain as favorable and to approximate the average rate achieved in 2017 and volume to be modestly lower compared to the levels achieved in 2017. In Guam, as expected, the Company's container volume in the first quarter 2018 was lower on a year-over-year basis, the result of competitive losses. For 2018, the Company expects a heightened competitive environment and lower volume than the levels achieved in 2017. In Alaska, the Company's container volume for the first quarter 2018 was 10.1 percent higher year-over-year, primarily due to an increase in northbound volume mainly related to the dry-docking of a competitor's vessel and one additional sailing. For 2018, the Company expects volume to be modestly higher than the level achieved in 2017 with improvement in northbound volume, partially offset by lower southbound seafood-related volume due to a moderation from the very strong seafood harvest levels in 2017. As a result of the first quarter performance and the outlook trends noted above, the Company expects full year 2018 Ocean Transportation operating income to be modestly higher than the $128.8 million achieved in 2017. In the second quarter 2018, the Company expects Ocean Transportation operating income to approach the level achieved in the second quarter 2017. Logistics: In the first quarter 2018, operating income for the Company's Logistics segment was $2.3 million higher compared to the operating income achieved in the first quarter 2017 due to improved performance across almost all of the service lines. For 2018, the Company expects Logistics operating income to be moderately higher than the $20.6 million achieved in 2017. In the second quarter 2018, the Company expects operating income to be moderately higher than the level achieved in the second quarter 2017. Depreciation and Amortization: For the full year 2018, the Company expects depreciation and amortization expense to be approximately $132 million, inclusive of dry-docking amortization of approximately $36 million. EBITDA: The Company expects full year 2018 EBITDA to be lower than the $296.0 million achieved in 2017. Interest Expense: The Company expects interest expense for the full year 2018 to be approximately $23 million. Income Tax Expense: In the first quarter 2018, the Company's effective tax rate was 42.0 percent, which includes a non-cash tax adjustment of $3.3 million resulting from a reduction in the alternative minimum tax receivable under the Tax Cuts and Jobs Act. For the balance of 2018, the Company expects its effective tax rate to be approximately 28 percent. Capital and Vessel Dry-docking Expenditures: In the first quarter 2018, the Company made maintenance capital expenditure payments of $13.1 million, capitalized vessel construction expenditures of $57.7 million, and dry-docking payments of $4.6 million. For the full year 2018, the Company expects to make maintenance capital expenditure payments of approximately $68 million, vessel construction expenditures (inclusive of capitalized interest and owner's items) of approximately $388 million, and dry-docking payments of approximately $18 million. Results By Segment Ocean Transportation — Three months ended March 31, 2018 compared with 2017 Three Months Ended March 31, (Dollars in millions) 2018 2017 Change Ocean Transportation revenue $ 379.3 $ 370.0 $ 9.3 2.5 % Operating costs and expenses (354.8) (354.7) (0.1) 0.0 % Operating income $ 24.5 $ 15.3 $ 9.2 60.1 % Operating income margin 6.5 % 4.1 % Volume (Forty-foot equivalent units (FEU), except for automobiles) (1) Hawaii containers 35,700 36,400 (700) (1.9) % Hawaii automobiles 16,800 13,800 3,000 21.7 % Alaska containers 17,400 15,800 1,600 10.1 % China containers 11,900 15,300 (3,400) (22.2) % Guam containers 4,900 5,400 (500) (9.3) % Other containers (2) 3,100 2,100 1,000 47.6 % (1) Approximate volumes included for the period are based on the voyage departure date, but revenue and operating income are adjusted to reflect the percentage of revenue and operating income earned during the reporting period for voyages in transit at the end of each reporting period. (2) Includes containers from services in various islands in Micronesia and the South Pacific, and in Okinawa, Japan. Ocean Transportation revenue increased $9.3 million, or 2.5 percent, during the three months ended March 31, 2018, compared with the three months ended March 31, 2017. This increase was primarily due to higher fuel surcharge revenue and higher volume in Alaska, partially offset by lower volume in China and lower revenue in Guam. On a year-over-year FEU basis, Hawaii container volume decreased by 1.9 percent primarily due to lower eastbound volume; Alaska volume increased by 10.1 percent primarily due to an increase in northbound volumes mainly related to the dry-docking of a competitor's vessel and one additional sailing; China volume was 22.2 percent lower primarily due to two fewer sailings and lower volume during the Lunar New Year period; and Guam volume was 9.3 percent lower due to increased competition. Ocean Transportation operating income increased $9.2 million during the three months ended March 31, 2018, compared with the three months ended March 31, 2017. This increase was primarily due to the favorable timing of fuel surcharge collections, lower vessel operating costs, a higher contribution from SSAT, and higher Alaska volume, partially offset by lower volume in China, lower revenue from Guam and higher terminal handling costs. The Company's SSAT terminal joint venture investment contributed $10.5 million during the three months ended March 31, 2018, compared to a $4.9 million contribution during the three months ended March 31, 2017. The increase was nearly equally attributable to improved lift volume and one-time items. Logistics — Three months ended March 31, 2018 compared with 2017 Three Months Ended March 31, (Dollars in millions) 2018 2017 Change Logistics revenue $ 132.1 $ 104.4 $ 27.7 26.5 % Operating costs and expenses (127.9) (102.5) (25.4) 24.8 % Operating income $ 4.2 $ 1.9 $ 2.3 121.1 % Operating income margin 3.2 % 1.8 % Logistics revenue increased $27.7 million, or 26.5 percent, during the three months ended March 31, 2018, compared with the three months ended March 31, 2017. This increase was primarily due to higher highway and intermodal brokerage revenue. Logistics operating income increased $2.3 million for the three months ended March 31, 2018 compared with the three months ended March 31, 2017. The increase was due primarily to higher contributions from highway brokerage and freight forwarding. Liquidity, Cash Flows and Capital Allocation Matson's Cash and Cash Equivalents decreased by $6.1 million to $13.7 million during the three months ended March 31, 2018. Matson generated net cash from operating activities of $29.9 million during the three months ended March 31, 2018, compared to $4.0 million in the three months ended March 31, 2017. Capital expenditures, including capitalized vessel construction expenditures, totaled $70.8 million for the three months ended March 31, 2018, compared with $24.2 million in the three months ended March 31, 2017. Total debt increased by $46.5 million during the three months to $903.6 million as of March 31, 2018, of which $867.1 million was long-term debt. For the twelve months ended March 31, 2018, Matson's Net Income and EBITDA were $239.2 million and $305.8 million, respectively. The ratio of Matson's Net Debt to last twelve months EBITDA was 2.9 as of March 31, 2018. As previously announced, Matson's Board of Directors declared a cash dividend of $0.20 per share payable on June 7, 2018 to all shareholders of record as of the close of business on May 10, 2018. Teleconference and Webcast A conference call is scheduled for 4:30 p.m. EDT when Matt Cox, Chairman and Chief Executive Officer, and Joel Wine, Senior Vice President and Chief Financial Officer, will discuss Matson's first quarter results. Date of Conference Call: Tuesday, May 1, 2018 Scheduled Time: 4:30 p.m. EDT / 1:30 p.m. PDT / 10:30 a.m. HST Participant Toll Free Dial-In #: 1-877-312-5524 International Dial-In #: 1-253-237-1144 The conference call will be broadcast live along with a slide presentation on the Company's website at www.matson.com , under Investors. A replay of the conference call will be available approximately two hours after the call through May 8, 2018 by dialing 1-855-859-2056 or 1-404-537-3406 and using the conference number 7994169. The slides and audio webcast of the conference call will be archived for one full quarter on the Company's website at www.matson.com , under Investors. About the Company Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services. Matson provides a vital lifeline to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates a premium, expedited service from China to Southern California and provides services to Okinawa, Japan and various islands in the South Pacific. The Company's fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, Asia supply chain services, and forwarding to Alaska. Additional information about the Company is available at www.matson.com . GAAP to Non-GAAP Reconciliation This press release, the Form 8-K and the information to be discussed in the conference call include non-GAAP measures. While Matson reports financial results in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also considers other non-GAAP measures to evaluate performance, make day-to-day operating decisions, help investors understand our ability to incur and service debt and to make capital expenditures, and to understand period-over-period operating results separate and apart from items that may, or could, have a disproportional positive or negative impact on results in any particular period. These non-GAAP measures include, but are not limited to, Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") and Net Debt-to-EBITDA. Forward-Looking Statements Statements in this news release that are not historical facts are " ," within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation those statements regarding earnings, operating income, profitability and cash flow expectations, fleet renewal progress, fleet deployments, economic effects of competitors' services, expenses, rate premiums and market conditions in the China service, trends in volumes, economic growth and construction activity in Hawaii, economic conditions in Alaska, lift volumes at SSAT, vessel deployments and operating efficiencies, and effective tax rates. These statements involve a number of risks and uncertainties that could cause actual results to those contemplated by the relevant forward-looking statement, including but not limited to risks and uncertainties relating to regional, national and international economic conditions; new or increased competition or improvements in competitors' service levels; fuel prices and our ability to collect fuel surcharges; our relationship with vendors, customers and partners and changes in related agreements; the actions of our competitors; our ability to offer a differentiated service in China for which customers are willing to pay a significant premium; the imposition of tariffs or a change in international trade policies; the ability of the shipyards to construct and deliver the Aloha Class and Kanaloa Class vessels on the contemplated timeframes; any unanticipated dry-dock or repair expenses; any delays or cost overruns related to the modernization of terminals; consummating and integrating acquisitions; changes in general economic and/or industry-specific conditions; competition and growth rates within the logistics industry; freight levels and increasing costs and availability of truck capacity or alternative means of transporting freight; changes in relationships with existing truck, rail, ocean and air carriers; changes in customer base due to possible consolidation among customers; conditions in the financial markets; changes in our credit profile and our future financial performance; our ability to obtain future debt financings; continuation of the Title XI and CCF programs; the impact of future and pending legislation, including environmental legislation; government regulations and investigations; repeal, substantial amendment or waiver of the Jones Act or its application, or our failure to maintain our status as a United States citizen under the Jones Act; relations with our unions; satisfactory negotiation and renewal of expired collective bargaining agreements without significant disruption to Matson's operations; war, terrorist attacks or other acts of violence; the use of our information technology and communication systems and cybersecurity attacks; and the occurrence of marine accidents, poor weather or natural disasters. These are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the in this release. We do not undertake any obligation to update our MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income (Unaudited) Three Months Ended March 31, (In millions, except per-share amounts) 2018 2017 Operating Revenue: Ocean Transportation $ 379.3 $ 370.0 Logistics 132.1 104.4 Total Operating Revenue 511.4 474.4 Costs and Expenses: Operating costs (439.3) (411.8) Equity in income of Terminal Joint Venture 10.5 4.9 Selling, general and administrative (53.9) (50.3) Total Costs and Expenses (482.7) (457.2) Operating Income 28.7 17.2 Interest expense (5.0) (6.3) Other income (expense), net 0.8 (0.8) Income before Income Taxes 24.5 10.1 Income taxes (10.3) (3.1) Net Income $ 14.2 $ 7.0 Basic Earnings Per-Share: $ 0.33 $ 0.16 Diluted Earnings Per-Share: $ 0.33 $ 0.16 Weighted Average Number of Shares Outstanding: Basic 42.6 43.0 Diluted 42.9 43.4 Cash Dividends Per-Share $ 0.20 $ 0.19 MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, (In millions) 2018 2017 ASSETS Current Assets: Cash and cash equivalents $ 13.7 $ 19.8 Other current assets 255.1 246.2 Total current assets 268.8 266.0 Long-term Assets: Investment in Terminal Joint Venture 96.7 93.2 Property and equipment, net 1,215.0 1,165.7 Goodwill 323.7 323.7 Intangible assets, net 222.4 225.2 Other long-term assets 161.3 173.7 Total long-term assets 2,019.1 1,981.5 Total assets $ 2,287.9 $ 2,247.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current portion of debt $ 36.5 $ 30.8 Other current liabilities 239.1 255.5 Total current liabilities 275.6 286.3 Long-term Liabilities: Long-term debt 867.1 826.3 Deferred income taxes 291.6 285.2 Other long-term liabilities 171.2 171.5 Total long-term liabilities 1,329.9 1,283.0 Total shareholders' equity 682.4 678.2 Total liabilities and shareholders' equity $ 2,287.9 $ 2,247.5 MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited) Three Months Ended March 31, (In millions) 2018 2017 Cash Flows From Operating Activities: Net income $ 14.2 $ 7.0 Reconciling adjustments: Depreciation and amortization 23.6 24.6 Deferred income taxes 6.4 2.9 Share-based compensation expense 2.7 2.6 Equity in income of Terminal Joint Venture (10.5) (4.9) Distribution from Terminal Joint Venture 7.0 — Other (0.6) (2.6) Changes in assets and liabilities: Accounts receivable, net (14.5) (8.4) Deferred dry-docking payments (4.6) (15.1) Deferred dry-docking amortization 9.2 11.5 Prepaid expenses and other assets 8.2 (1.1) Accounts payable, accruals and other liabilities (11.0) (13.3) Other long-term liabilities (0.2) 0.8 Net cash provided by operating activities 29.9 4.0 Cash Flows From Investing Activities: Capitalized vessel construction expenditures (57.7) (1.3) Other capital expenditures (13.1) (22.9) Proceeds from disposal of property and equipment 1.0 — Cash deposits into Capital Construction Fund (53.5) — Withdrawals from Capital Construction Fund 53.5 — Net cash used in investing activities (69.8) (24.2) Cash Flows From Financing Activities: Repayments of debt and capital leases (2.5) (2.6) Proceeds from revolving credit facility 117.4 100.0 Repayments of revolving credit facility (68.4) (56.0) Proceeds from issuance of capital stock 0.2 0.4 Dividends paid (8.7) (8.3) Repurchase of Matson common stock — (0.7) Tax withholding related to net share settlements of restricted stock units (4.2) (7.1) Other — 0.1 Net cash provided by financing activities 33.8 25.8 Net (Decrease) Increase in Cash and Cash Equivalents (6.1) 5.6 Cash and Cash Equivalents, Beginning of the Period 19.8 13.9 Cash and Cash Equivalents, End of the Period $ 13.7 $ 19.5 Supplemental Cash Flow Information: Interest paid, net of capitalized interest $ 5.3 $ 6.5 Income tax paid, net of income tax refunds $ 0.2 $ 0.4 Non-cash Information: Capital expenditures included in accounts payable, accruals and other liabilities $ 0.7 $ 2.4 MATSON, INC. AND SUBSIDIARIES Net Debt to EBITDA and EBITDA Reconciliations (Unaudited) NET DEBT RECONCILIATION March 31, (In millions) 2018 Total Debt: $ 903.6 Less: Cash and cash equivalents (13.7) Capital Construction Fund - cash on deposit (0.9) Net Debt $ 889.0 EBITDA RECONCILIATION Three Months Ended March 31, Last Twelve (In millions) 2018 2017 Change Months Net Income $ 14.2 $ 7.0 $ 7.2 $ 239.2 Add: Income taxes 10.3 3.1 7.2 (99.6) Add: Interest expense 5.0 6.3 (1.3) 22.9 Add: Depreciation and amortization 23.4 24.4 (1.0) 99.4 Add: Dry-dock amortization 9.2 11.5 (2.3) 43.9 EBITDA (1) $ 62.1 $ 52.3 $ 9.8 $ 305.8

Matson, Inc. Announces First Quarter 2018 Results And Raises 2018 Outlook

May 9, 2018 / 5:01 AM / Updated 7 minutes ago Zurich Insurance Q1 P&C premiums rise 5 pct Reuters Staff 1 Min Read ZURICH, May 9 (Reuters) - Zurich Insurance generated $9.33 billion in property and casualty premiums in the first quarter, up 5 percent in dollar terms but down 1 percent like for like as Europe’s fifth-biggest insurer focused on profitability, it said on Wednesday. Gross written premiums for the property and casualty business were expected at $9.1 billion, according to a Reuters survey of three analysts. “The group continues to make good progress toward our 2017 to 2019 targets and remains strongly capitalised after returning around $3.8 billion to shareholders year-to-date through the increased dividend and the previously announced anti-dilution measures,” Chief Financial Officer George Quinn said. (Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)

Zurich Insurance Q1 P&C premiums rise 5 pct

(Adds TransCanada response) May 3 (Reuters) - Pressure restrictions on TransCanada Corp’s Keystone oil pipeline were lifted on Tuesday in a letter issued by U.S. pipeline safety regulators, a spokesman for the agency told Reuters on Thursday. It was not immediately clear what current flow rates are, said Darius Kirkwood, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA). The company in November shut down its 590,000-barrel-per-day Keystone pipeline, which links Alberta’s oil sands to U.S. refineries, after a spill in South Dakota and was ordered later that month to operate at reduced pressure. Reduced flows on the pipeline had helped draw down inventories in the Cushing, Oklahoma, storage hub. A return to full capacity on the line is also expected to help relieve a bottleneck in the oil-producing province of Alberta, where increased output has run up against a shortage of pipeline and rail capacity. The restrictions “really did have a minor impact on our throughput and so consequently, I don’t anticipate seeing a tremendous increase in our throughput once it’s lifted, based on some of the changes we’ve made already,” TransCanada’s head of liquids, Paul Miller, said on a conference call last week. A spokesman for Calgary-based TransCanada said the restrictions in place were limited to a small section of the pipeline and had been lifted. “We don’t expect to see significant additional volumes on Keystone,” Matthew John, a spokesman for TransCanada said in an emailed statement on Thursday. As of Dec. 1, pressure restrictions were in place only from the pipeline’s Luverne pump station to Ludden pump station and on the segment that had the leak between Ludden to Ferney pump stations, near Amherst, South Dakota, the PHMSA letter showed. On April 3, TransCanada requested that the remaining pressure restrictions on the pipeline be lifted and PHMSA approved the request effective on Tuesday. “They’ve been moving historical volumes with DRA (drag-reducing agents). Just makes it easier for them to operate now,” one U.S.-based crude trader said. (Reporting by Devika Krishna Kumar in New York; editing by Grant McCool and Peter Cooney) Our

UPDATE 3-U.S. lifts Keystone oil pipeline pressure restrictions

May 2, 2018 / 7:38 PM / Updated 8 minutes ago Another 49 Central Americans from caravan cross U.S. border Delphine Schrank 5 Min Read TIJUANA, Mexico (Reuters) - Forty-nine Central Americans from a migrant caravan that angered President Donald Trump crossed into the United States to seek asylum on Wednesday morning, while dozens more woke to a rainy, cold third day camped outside a U.S. port of entry. Members of a caravan of migrants from Central America pray near the San Ysidro checkpoint in Tijuana, Mexico April 30, 2018. REUTERS/Edgard Garrido The 49 migrants, including a first group of mostly women, children and transgender people who had been waiting at the U.S. gate for about 15 hours, were let through by midday, according to the group’s organizers, raising the total number of migrants who had crossed to 74. Since Monday, border officials have allowed only a trickle at a time to cross the U.S. border, saying that the busy San Ysidro crossing to San Diego is saturated and the rest must wait their turn. More than 100 members of the caravan, most from Honduras, Guatemala and El Salvador, have been camped in a square near the entrance of the San Ysidro pedestrian bridge that leads from Mexico to the United States, waiting for their turn to enter the facility. At least 28 migrants who made it into the United States on Wednesday had been next on the list. Late Tuesday they had anxiously filed through the walkway to the U.S. gate. Two by two, some walked up to a U.S. Customs and Border Protection officer standing in the gate to ask if they might pass through. First to try was a man and his small nephew, a football under his arm; then a mother and child; then a women with her grandsons. Turned away, they bedded down in a small space pressed up against metal bars separating them from the United States, bundled against the cold under blankets and sheets of tarpaulin tenting. No one knew when, or how many of them, would next be allowed through. Among them was Reina Isabel Rodriguez, who had fled Honduras with her grandsons. Throughout the caravan’s 2,000-mile (3,220-km) odyssey from southern Mexico, the possibility that U.S. officials might reject her plea for asylum, and of being separated from the boys for not being their biological parent, had never seemed so real. Related Coverage U.S. adding prosecutors, judges to process immigrants at Mexico border “I’m scared, I’m so scared, I don’t want to be sent home,” she said, tears streaming down her face. Christopher, 11, watched her with anguish, and Anderson, 7, sat at her feet, his head drooping, a toy robot in his lap. Rodriguez was among the many migrants of the caravan who told Reuters they were forced from their homes by Central America’s brutal Mara street gangs, along with other life-threatening situations. Trump’s administration, however, cites a more than tenfold rise in asylum claims in the past seven years, growing numbers of families and children and a shift to more Central Americans as signs that people are fraudulently taking advantage of the system. Trump wants to tighten U.S. law to make it harder for people to claim asylum. For now though, despite his orders to keep such migrant caravans out of the country, international and U.S. law obliges the government to listen to people’s stories and decide whether they deserve shelter. The U.S. Department of Justice said on Monday it launched prosecutions against 11 “suspected” caravan members on charges of crossing the border illegally. About half of them are represented by the federal public defender in San Diego, according to the office’s chief trial attorney, Shereen Charlick, including three women who had planned to present themselves and their children to make asylum claims at the official border port of entry. Long lines at the entry point led the women and their children to try crossing a few miles away, she said, where they were apprehended by immigration authorities. Defence lawyers are trying to track down the location of their children, Charlick said. She said some of the mothers apprehended are no longer with their children, and that lawyers in the office are trying to figure out how they were separated. Nicole Ramos, an attorney advising caravan members in Mexico, said she did not believe the individuals facing U.S. criminal charges were part of the caravan group. “Quite a few people have claimed to be part of the caravan, including a sizable contingent of Guatemalan men who were never part,” Ramos said. Reporting by Delphine Schrank, editing by Robert Birsel and Jonathan Oatis

Fourth group of Central Americans from caravan cross U.S. border

May 25, 2018 / 2:19 PM / Updated 3 hours ago Pacific Ocean features in new royal Markle's Coat of Arms Reuters Staff 2 Min Read LONDON (Reuters) - A Coat of Arms has been created for U.S. actress Meghan Markle, who married Britain’s Prince Harry in a lavish ceremony watched by millions last weekend, featuring California’s state flower and a blue background to represent the Pacific Ocean. Britain's Meghan, the Duchess of Sussex's, new coat of arms can be seen in this undated handout illustration issued by Kensington Palace in London, Britain, May 25, 2018. Kensington Palace/Handout via REUTERS Meghan, who is now officially the Duchess of Sussex, joined Britain’s royal family when she wed Harry at Queen Elizabeth’s Windsor Castle home last Saturday. Harry’s office said on Friday the design for her Coat Of Arms had been approved by his grandmother Queen Elizabeth and Thomas Woodcock, the Senior Herald in England based at London’s College of Arms. “Her Royal Highness worked closely with the College of Arms throughout the design process to create a Coat of Arms that was both personal and representative,” Kensington Palace said in a statement. Meghan was born and raised in Los Angeles and the statement said the blue background of the shield on her arms represented the Pacific Ocean off California’s coast while two golden rays were symbolic of the state’s sunshine. Britain's Prince Harry and his wife Meghan, Duchess of Sussex attend a garden party at Buckingham Palace, their first royal engagement as a married couple, in London, May 22, 2018. Dominic Lipinski/Pool via Reuters It also features three quills which represent communication and the power of words while beneath the shield are a collection of golden poppies, California’s state flower, and wintersweet, which grows at Kensington Palace where she now lives with her new husband, the palace said. Next to the shield are two “Supporters”, one for her husband and one relating to her - a songbird with an open beak which also represents the power of communication. “Good heraldic design is nearly always simple and the Arms of The Duchess of Sussex stand well beside the historic beauty of the quartered British Royal Arms,” Woodcock said. The technical description of the arms is “Azure a Feather bendwise Argent quilled between two Bendlets Or all between two like Feathers Argent quilled Or”. Reporting by Michael Holden; e3diting by Stephen Addison

Pacific Ocean features in new royal Markle's Coat of Arms

Jeffrey Greenberg/UIG via Getty Images Britain is set to enforce greater transparency in tax havens after a minister for the U.K. government announced Tuesday it would not oppose a legal amendment proposed by a cross-party alliance of lawmakers. Some overseas British territories that are notorious for being tax havens for the world's wealthiest, such as the Cayman Islands and the British Virgin Islands, will now be required to reveal beneficial owners of assets held in a register available to the public. A total of 40 lawmakers, including 19 from the ruling Conservative party and Ed Miliband, the former leader of the Labour opposition party, had forced the hand of Prime Minister Theresa May to debate an amendment on financial secrecy and offshore money laundering. That debate was set to take place Tuesday before the minister's announcement. The U.K. Foreign Office said Monday it had evidence that a century-old loophole has been exploited by money laundering schemes to move up to $80 billion out of Russia. Laundering schemes use Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs), both two types of businesses often owned by legitimate firms, as a way to pass dirty money through the U.K. It also said that five men were responsible for over half of 8,800 "limited partnership" businesses registered between January 2016 and May 2017, with 17,000 companies registered at just 10 addresses. show chapters Post-Panama Papers, what's changed in the BVI? 10:56 PM ET Mon, 17 Oct 2016 | 01:40 Global campaign group ActionAid said the government's u-turn was a "breakthrough" for those calling for greater global financial transparency. "These measures will help flush out the corruption and tax evasion that keeps the most vulnerable people in the world — including women and girls — locked in poverty," said Jon Date, senior advocacy manager at ActionAid UK. A report by an international corruption watchdog last month criticized G-20 countries as being "weak" and moving "too slowly" in improving transparency over financial secrecy, two years after the Panama Papers revealed how wealthy individuals hide their money. The U.K. remains the only G-20 country to have a central register detailing beneficial owners available to the public. A beneficial owner ultimately has significant control of, or owns, a corporate entity. The Panama Papers saw the unprecedented leak of 11.5 million documents from offshore law firm Mossak Fonseca in April 2016. The leak raised questions over tax avoidance from prominent individuals, such as the late father of former U.K. Prime Minister David Cameron, to secret offshore deals worth $2 billion with links to Vladimir Putin.

UK to introduce greater transparency in tax havens

May 23, 2018 / 10:52 AM / in 19 minutes Tiffany dazzles as turnaround plan takes hold Vibhuti Sharma 3 Min Read (Reuters) - Tiffany & Co ( TIF.N ) blew past analysts’ estimates in the first quarter and raised its full-year forecast for profit and sales as a plan to target millennials and sell household items attracted more shoppers, sending its shares to an all-time high. FILE PHOTO: A Tiffany store is seen in Beverly Hills, California, U.S., March 13, 2017. Picture taken March 13, 2017. REUTERS/Lucy Nicholson/File Photo Shares surged 20 percent and were on track for their best day in more than 17 years as the upscale jeweler posted its strongest rise in same-store sales in four years, driven by China-led growth in Asia and strong sales in its domestic market. Tiffany has revamped its product lines and added cheaper items as part of a turnaround led by new Chief Executive Officer Alessandro Bogliolo to compete with popular jewelers including Denmark’s Pandora A/S ( PNDORA.CO ) and Blue Nile. “New product offerings resonated with consumers, and with its Paper Flowers collection of platinum and diamond jewelry rolling out, Tiffany should continue to fare well,” said Ken Perkins, founder of research firm Retail Metrics. The company’s sales in the Americas, its biggest market, rose 9 percent, while Asia-Pacific sales jumped 28 percent in the three months ended April 30. Sales in Europe were up 13 percent. “With local customers the trend has been positive in every single region including Europe,” Bogliolo told Reuters, adding that investments made in the last two quarters are working. Sales in the jewelry collections category, which includes brands such as TIFFANY T and HardWear, rose 18 percent, while its engagement category saw an 11 percent increase in sales in the quarter. Tiffany has been investing in developing its website and boosting its marketing and store presentations. Despite these investments, the company boosted margins, which rose to 63 percent from 62.1 percent from a year earlier. Overall same-store sales rose 7 percent on a constant currency basis. Analysts on average had expected an increase of 2.7 percent. Tiffany now expects earnings per share of $4.50 to $4.70 for the year ending January 2019, compared with the prior forecast of $4.25 to $4.45 per share. First-quarter net sales rose 14.8 percent to $1.03 billion, topping analysts’ estimates of $959.4 million, according to Thomson Reuters I/B/E/S. Excluding one-time items, the company earned $1.14 per share, while Wall Street analysts had expected 83 cents per share. Reporting by Vibhuti Sharma, Aishwarya Venugopal in Bengaluru ; Additional Reporting by Melissa Fares in New York; Editing by Arun Koyyur and Anil D'Silva

Tiffany's same-store sales beat estimates

4:44 AM EDT HBO has won international acclaim for Game of Thrones . Fewer people have heard of Mammon . Yet the Czech drama about a journalist who uncovers evidence of fraud, implicating his brother, often gets more viewers in the Czech Republic than the famous, bloody adaptation of George R. R. Martin’s novels. It’s a common phenomenon that helps explain why HBO is stepping up production of original TV series in Europe and elsewhere outside the U.S. For the first time, the Time Warner (twx) premium channel is developing country-specific shows from Spain and Scandinavia, a sign of how the global competition for cord-cutters is pushing entertainment giants to produce more foreign-language programming. “Our local productions are in some cases No. 1 or No. 2, next to Game of Thrones or Westworld ,” Bernadette Aulestia, HBO’s head of global distribution, said in an interview, referring to HBO’s other big series, a dystopian sci-fi western. “Those shows are huge drivers of the service.” But HBO is not alone—and that’s also driving the expansion effort. Europe has become the new battlefield in the global streaming wars. Amazon (amzn) recently hired its first head of original television for Europe and is developing local shows in France and Spain. Last month, Netflix (nflx) unveiled seven new original series on the continent, including product from the Netherlands, France, Italy, Spain and Germany, touting some as having global appeal. A recently introduced German sci-fi thriller, Dark , is watched nine times as much outside Germany as it is within, Netflix said . HBO is available in 17 European countries, in many cases via traditional cable and satellite TV services. But in Spain and the Nordic countries, it’s available only online, making it easier to cancel if it doesn’t offer enough compelling shows. HBO’s global approach has evolved from the days when it simply exported American programs such as The Sopranos . Like their counterparts at Netflix and Amazon , HBO executives realized they needed to supplement U.S. hits with more stories of local culture in local languages and with famous local actors to earn the loyalty of international subscribers. This year, HBO is creating 250 hours of original programming for its foreign subscribers, including shows, movies and documentaries—a 40 percent increase over last year. The channel will make 14 original scripted series outside the U.S., up from 10 two years ago. The Spanish drama Patria is one of them. It’s based on a best-selling novel about two families during the Basque conflict—still a fraught topic in some quarters. It’s being developed by one of Spain’s most famous TV showrunners, Aitor Gabilondo, creator of The Prince , a cop show that was the country’s biggest primetime series in 2016, according to Variety. Another HBO project is the Swedish comedy Gosta , which tells the story of a child psychologist in Stockholm who moves to a rural town, rents a cottage in the woods and attempts to be the nicest person in the world. Both shows are expected to be released next year on their country’s streaming services—HBO Spain and HBO Nordic. Each of the online channels has more than 1 million subscribers and offers a mix of popular American HBO shows and acquired hits from other programmers. Some existing HBO shows in Europe include the Polish drama Wataha , which translates to “the pack” in English but is also known as The Border . It’s a show about a guard unit that patrols the Polish border with Ukraine. Meanwhile, in Mexico, HBO has backed Sr. Avila , a drama which tells the tale of a hit man who struggles with personal demons. Both programs have at times drawn larger audiences in their home countries than have HBO’s flagship American series. HBO said introducing homegrown programs often leads to a surge in subscribers. From 2001 to 2004, for instance, the channel saw 16% subscription growth in Latin America. In 2004, HBO unveiled its first international scripted series, the Argentine detective show Epitafios . Over the next four years, subscriptions in Latin America grew by a whopping 53%. To be fair, HBO’s efforts abroad aren’t totally new. It already gets about one-fourth of its $6 billion in annual revenue from outside the U.S. The channel, which may end up being owned by AT&T (t) depending on the outcome of a U.S. antitrust fight, is available in 67 countries, including Asia, and has 142 million subscribers worldwide, including its sister channel, Cinemax, and streaming services. By comparison, Netflix has about 125 million subscribers while Amazon Prime has more than 100 million. HBO executives said they believe global expansion is a two-way street, predicting that their foreign-language shows could add to its roughly 40 million U.S. subscribers. For instance, Wasteland , an HBO series from the Czech Republic about a town whose buildings are razed by a coal company, averages about 100,000 American viewers. While that’s a far cry from the season finale of Game of Thrones , which drew 16.5 million viewers, HBO said its foreign shows are aimed at niche audiences in the U.S. For now, only a few European HBO shows are available to its American viewers. But next year, the channel plans to take the unprecedented step of making its entire international catalog—about 40 series total—part of its U.S. offerings. “What people are most interested in is the quality of the show,” Aulestia said. “The barrier of language or where it was produced has gone away.” HBO’s creative push into Europe is being led by Antony Root, 64, a former Sony Pictures executive. Based in London, Root joined seven years ago with the goal of delivering what he calls “the HBO promise:” programming that is “distinctive, original, bold and having a strong point of view.” Equally important, he said, are shows with a local flavor. Root has local production heads in European countries who have deep ties with local writers, directors and producers. In the Nordic region, that person is Hanne Palmquist, who joined HBO two years ago from the Danish Film Institute. HBO’s point person in Spain is Miguel Salvat, a former director of content at Canal Plus, the Spanish satellite-TV company. “We engage with local audiences in a more intimate and profound way when we make shows that derive from the local culture, local language groups—and when they see local actors they’re familiar with,” Root said in an interview. The channel’s global endeavor, however, is not without hurdles. While camera crews or directors can usually be found, in some parts of Europe it’s hard to find local writers. HBO executives have sought to overcome this by organizing television writing classes in European film schools, sponsoring film festivals and recruiting writers to work on local adaptations of existing shows. For example, In Treatment , an Israeli show about a therapist that HBO adapted for the U.S audience, has been remade in four European countries. “It’s a good way to get people to understand what our values are,” Root said. HBO also hosts scriptwriting contests across Europe to find new talent. One recent competition in Croatia generated about 400 submissions. The winner, Marjan Alčevski, was awarded a six-episode HBO series based on his idea about four strangers who are bound together after witnessing a violent act. That show, Success , is being made for TV by Oscar-winning Bosnian filmmaker Danis Tanović. It went into production in March. SPONSORED FINANCIAL CONTENT

HBO Is Taking Its Cord-Cutter War Against Amazon and Netflix to Europe

China China Said to Offer President Trump a $200 Billion Cut in U.S. Trade Deficit President Donald Trump holds up a signed presidential memorandum targeting China's economic aggression in the White House in Washington, D.C. on March 22, 2018. Andrew Harrer—Bloomberg/Getty Images By Bloomberg 10:21 PM EDT China has offered President Donald Trump a $200 billion reduction in its annual trade surplus with the U.S. by increasing imports of American products and other steps, said a Trump administration official. China made the offer during talks in Washington this week as Chinese Vice Premier Liu He visited to try to resolve a trade dispute, the official said, speaking on condition of anonymity. Liu met with Trump Thursday afternoon at the White House. The official didn’t describe the U.S. response. U.S. officials conveyed the president’s goal for a fair trading relationship with China and the two sides agreed to continue the discussions on Friday, the White House said in a statement. China’s Ministry of Commerce and the State Council Information Office didn’t initially respond to requests for comment. A $200 billion reduction in the U.S. trade gap with China by 2020 was on a list of demands the Trump administration made earlier this month as Treasury Secretary Steven Mnuchin led a delegation to Beijing. The U.S. merchandise trade deficit with China hit a record $375 billion last year. The U.S. had earlier made additional demands, including a halt to subsidies and other government support for the Made in China 2025 plan that targets strategic industries from robotics to new-energy vehicles. China had made its own demands, including giving equal treatment to its investment, and warned U.S. companies may be excluded from measures to open its economy. A deal to cut the deficit, if confirmed, “is good news for market sentiment,” said Dariusz Kowalczyk, senior emerging-market strategist at Credit Agricole SA in Hong Kong. “That said, China would suffer pressure on GDP growth as a result and would need to boost domestic demand and debt in the economy through monetary easing and allowing more credit.” The yuan could weaken on the news given expectations for a deterioration of China’s balance of payments, while Chinese government bond yields may come under downward pressure, said Kowalczyk. The Trump administration has threatened to impose tariffs on as much as $150 billion of Chinese imports to the U.S. as tensions over trade have escalated. Trump expressed doubt before his meeting with Liu that China and the U.S. would come to an agreement to avoid a damaging trade war. President Has Doubts “Will that be successful? I tend to doubt it,” Trump said during a press briefing on Thursday with NATO Secretary-General Jens Stoltenberg. “The reason I doubt it is because China’s become very spoiled.” Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney, said the Chinese proposal is “a positive sign that a full on trade war may be averted.” “By making a significant offer to the U.S. it indicates that China is taking the negotiations very seriously,” Oliver said. “Much will depend on the details and time period and later in terms of the implementation.” Reuters reported China’s trade deficit reduction offer earlier. The U.S. and China were expected to exchange new trade proposals during the Washington talks, Trump economic adviser Larry Kudlow said earlier Thursday. Mnuchin is leading the talks with Liu, along with Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer, according to the White House. Victor Shih, a professor at the University of California in San Diego who studies China’s politics and finance, said he finds an agreement to cut the U.S. deficit by $200 billion “difficult to contemplate.” “Even with a drastic reallocation of Chinese imports of energy, raw materials and airplanes in favor of the U.S., the bilateral trade deficit may reduce by $100 billion,” he said. “A $200 billion reduction would mean a drastic reduction in Chinese exports to the U.S. and a dramatic restructuring of the supply chain.” Market Access Kudlow said the U.S. focus is on China opening market access to American companies by lowering their trading barriers and addressing U.S. concerns over the theft of intellectual property. “American ownership of its own companies in China must be permitted,” Kudlow said. “We are going to have serious talks dealing with a difficult trade situation that needs to be fixed.” Trump also said on Thursday that his decision to order a review of U.S. penalties on China’s ZTE Corp. came directly at the request of Chinese President Xi Jinping. “The president of China, President Xi, asked me to look at it. I said I would look at it,” Trump said, adding “But anything we do with ZTE is always — it’s just a small component of the overall deal. In a surprise move, Trump on Sunday said that the U.S. was considering ways to help get ZTE ‘’back in business fast,” fueling speculation of a softening of his get-tough position on China. The Commerce Department blocked ZTE’s access to U.S. suppliers last month, saying the company had violated a 2017 sanctions settlement related to trading with Iran and North Korea and then lied about the violations. SPONSORED FINANCIAL CONTENT

China Said to Offer Trump $200 Billion Cut in U.S. Trade Deficit | Fortune

The European-inspired panic that brought down the stock market on Tuesday will ultimately turn out to be a buying opportunity, CNBC's Jim Cramer said. The Dow Jones industrial average sank 391.64 points, or 1.58 percent, to close at 24,361.45 on Tuesday. The S&P 500 fell 1.16 percent to close at 2,689.86, while the Nasdaq composite fell 0.5 percent to finish at 7,396.59. "Our market gets crushed and everyone acts like the world is about to end," the " Mad Money " host said Tuesday. Yet "this stuff is good ... for most American companies because it pushes down our interest rates. In fact, I think this European turmoil is absolutely positive for the United States," he added. However, the market got slammed anyway, namely for three reasons, Cramer said. One, the market hates uncertainty. Second, people think that a crisis overseas will eventually mean a crisis here. Lastly, investors were looking for any excuse to take some profits, he argued. Once the panic settles, Cramer sees several reasons to buy. The negativity and fear has caused interest rates to go down fast, for one. If the yield on the 10-year Treasury sinks to 2.75 percent, which Cramer predicted last week, it would be ultimately terrific for most of the stock market, he said. Plus, the plunging oil prices are good for retail names and consumer packaged goods companies. Meanwhile, he thinks the strong U.S. dollar, which can hurt those companies, is a side issue. Finally, Cramer believes the sellers of the S&P 500 today will be the buyers of the small and mid-cap domestic stocks tomorrow. "Anything that gives us lower rates, lower inflation, more powerful banks, and more purchasing power for homes and cars, is something that's good, not bad," he said. "We just have to wait until the sellers come to their senses and realize that sometimes uncertainty can lead to good outcomes." WATCH: Cramer breaks down why the market can ultimately go higher show chapters Cramer: Market panic will turn out to be buying opportunity 19 Hours Ago | 10:32

Cramer: Market panic will turn out to be buying opportunity

ABU DHABI (Reuters) - Military transport planes from the United Arab Emirates landed on the sleepy Yemeni island of Socotra last week, unloading tanks and troops as part of the Gulf Arab state’s drive to extend its influence over a strategic waterway flanked by war zones. General view of Martyrs Memorial Park opposite Sheikh Zayed Mosque in Abu Dhabi, UAE May 9, 2018. REUTERS/Satish Kumar The UAE, with a population of less than 10 million but the Arab world’s second-largest economy thanks to oil, is deploying its soldiers and cash to create a web of bases and armed allies in Yemen and Somalia as a bulwark against Islamist extremists and Iranian influence, according to diplomats as well as Yemeni and Somali officials. But backing groups at loggerheads with their national governments threatens to bog down the UAE in the seemingly endless conflicts of two of the world’s poorest countries. Lying between the Arabian Peninsula and Horn of Africa, Socotra island, best known for its otherworldly plant life, appeared far from the war until the UAE troops arrived, in a landing reported by Yemeni officials and media. The Yemeni government accused the UAE of seizing the island’s ports and airport. A government source told Reuters that the UAE move was a power-play for “commercial and security interests” and accused the UAE of trying to colonize Yemen. “They won’t get that from Yemen,” the source said. “Yes, Yemenis are poor but they fight for their sovereignty,” The UAE foreign ministry, in a statement on Socotra, said it backed Yemen’s legitimate government and sought “to establish peace and stability and to support developmental projects for the island’s residents”. The UAE has built up local army units in Yemen, increasing its influence along the Red Sea coast, but also opening up a rift with the country’s exiled government. Across the Bab al-Mandeb strait, through which much of the world’s oil flows, the UAE also has a foothold in northern Somalia, where Emirati firms have set up commercial ports and its troops conduct military and training missions. Abu Dhabi, political capital of the seven-emirate federation, is moving assertively against the threat it sees from Islamist groups such as al Qaeda, while promoting itself as a stable, open and largely tolerant Muslim country. It has allied itself with Saudi Arabia in the war against the Houthi group in Yemen, and with three Arab powers in a boycott of Qatar, accusing it of backing terrorism. The UAE has hired senior foreign military officers to modernize its army, including Australia’s former top special forces general, Mike Hindmarsh, who reports to Abu Dhabi’s powerful Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. Hindmarsh oversees the Presidential Guard, the unit tasked with directing the UAE’s campaign in Yemen. “They are taking the fight to the enemy around the region,” said a Western diplomat. General view of Martyrs Memorial Park opposite Sheikh Zayed Mosque in Abu Dhabi, UAE May 9, 2018. REUTERS/Satish Kumar A Gulf source spelled out the UAE approach, saying it was protecting its interests in the region and promoting development to deter recruitment by Islamist groups. “The UAE is helping to develop economically viable zones that create jobs and improve standards of living while also providing humanitarian and financial aid.” “There is a comprehensive Emirati approach to fostering long-term stability in the region,” the source said. SOUTH YEMEN REVIVED A monument of leaning pillars in Abu Dhabi shows the cost of this engagement: inscribed with soldiers’ names, the memorial pays tribute to the UAE’s “martyrs”. The vast majority - more than 100 - fell in the three-year-old war the UAE is fighting in Yemen alongside Saudi Arabia against the Iranian-aligned Houthis. Saudi Arabia’s main ally in the conflict, Yemen’s heavily Islamist government, is struggling against the Houthis, who control the north of the country and the capital, Sanaa. The UAE, which has made the only visible gains by the coalition along the southwestern coast, has adopted a different strategy and cultivated its own friends in the war. Across a string of small bases from the volcanic island of Perim at the mouth of the Red Sea to the dunes of Rawah near the Omani border, the UAE pays salaries and trains troops. At the beginning of the Yemen war, the UAE prised from Iran’s orbit a struggling secessionist movement which hopes to revive the former state of South Yemen. The socialist movement’s leaders left Yemen after the north and south were unified in 1994, and wound up in Hezbollah’s south Beirut stronghold, from where they ran a low-level insurgency in Yemen, diplomatic and southern political sources said. Iranian Revolutionary Guard officials and Hezbollah schooled the southern commanders in guerrilla tactics in hopes of destabilizing Saudi Arabia’s southern flank, the sources said. Slideshow (4 Images) But when the Houthis advanced into southern Yemen in 2015, promises of assistance from the UAE convinced the southern leadership to move to Abu Dhabi from where they could carry on the fight for their Yemeni homeland. “They want to fight Iranian militias trying to seize our lands, and we do too. This is enough for the alliance to make sense for now,” one southern official told Reuters. This alliance helped the UAE to seize the southern port of Aden in 2015. The UAE trained southern Yemeni forces who captured the other main port, Mukalla, from al Qaeda. Mukalla airport, closed to commercial flights, now hosts Emirati helicopters, a training center, detention facility and also a small contingent of U.S. special forces helping to fight al Qaeda in nearby mountains. Iran’s foreign ministry did not immediately respond to a request for comment on any involvement with the southern Yemeni secessionists. Hezbollah also declined to comment. SOMALIA TUG-OF-WAR Raids by Somali pirates on trade routes along the Horn of Africa helped draw the UAE, home to the Middle East’s busiest port, into the tangled politics of Somalia, which has grappled for over a decade with al Qaeda-linked Shabaab militants. The UAE is deepening ties with the semi-autonomous regions of Somaliland and Puntland after state-owned Emirati firms DP World and P&O Ports signed deals there in 2016 and 2017. UAE troops quickly followed, and have begun building a military base in Berbera, Somaliland, the region’s President Muse Bihi Abdi told Reuters while on a visit to Abu Dhabi. “It will be the guarantee for our security, for our development in any case of terrorism ... They have the resources and knowledge better than us. We are a nation after a war, rebuilding,” he said. The relationship - which includes investing hundreds of millions of dollars in Somaliland for projects such as a highway to Ethiopia and new airport - has angered the central government in Somalia, and the UAE has ended its military training mission in Mogadishu. UAE Minister of State for Foreign Affairs Anwar Gargash told Reuters that support for the regions was not intended to split Somalia and his country had no quarrel with the central government. “Our policy of recognizing a one-Somalia stands ... But at the same time we are able to support the people of Somaliland through humanitarian, developmental [projects].” The president of Puntland, Abdiweli Mohamed Ali, told Reuters in Dubai that UAE personnel were training local forces to combat piracy as well as Islamist groups in Yemen or Somalia. He denied that the UAE sought a long-term colonial presence. “They are not occupying as a military force in Somalia,” he said. “It’s impossible. We are fierce fighters, we will never allow that to happen.” Additional reporting by Aziz El Yaakoubi; Writing by Noah Browning; Editing by Ghaida Ghantous and Giles Elgood

UAE extends military reach in Yemen and Somalia

HARARE (Reuters) - Zimbabwe President Emmerson Mnangagwa urged his party on Friday to unite after disputed internal polls, saying this will ensure a “thunderous” win in elections set for July, which would allow a ZANU-PF government to provide jobs and tackle corruption. FILE PHOTO: Zimbabwe's president, Emmerson Mnangagwa, speaks during Africa CEO Forum at the Sofitel Hotel Ivoire in Abidjan, Ivory Coast March 26, 2018. REUTERS/Luc Gnago/File Photo Mnangagwa took over from long-time ruler Robert Mugabe last November after the 94-year-old leader was forced to resign following a de facto military coup. If certified free and fair by the international community, the presidential, parliamentary and council elections, whose date has not been fixed, could lead to resumption of financial aid by foreign lenders for the first time in two decades. While launching the ZANU-PF election manifesto in the capital, Mnangagwa said his party’s leadership, the politburo, would review primary election results on Saturday and may order re-runs in some constituencies. Seven government ministers and several allies of Mnangagwa were defeated in the polls this week. Mnangagwa is trying to break away from Mugabe’s policies with his “open for business” policy. But his critics say after serving in each of Mugabe’s governments since independence from Britain in 1980, Mnangagwa has little to offer. “Let us put our differences aside and campaign for the thunderous victory of our revolutionary party. A house divided cannot stand,” Mnangagwa said. The 75-year-old leader promised better conditions for government workers following public sector strikes by doctors and nurses in March and April. Teachers say they will not go back to work when schools re-open on Tuesday. Mnangagwa talked up his government’s achievements since assuming office, adding that foreign investors had promised more than $11 billion in investments, which his administration would ensure materialized. “The condition of service of our teachers, health workers, security forces and general civil servants will be reviewed with the view of improving their conditions of service,” he said. Under the manifesto’s “Unite, fight corruption, develop, re-engage, create jobs” theme, ZANU-PF promises annual economic growth of 6 percent for five years, foreign direct investment of $5 billion annually and will build 1.5 million houses. Under the ZANU-PF government, the mining sector will be opened up to more investors, farmers will have leases for their land, roads will be rebuilt and power generation increased to 3,000 MW from 1,800 MW, the manifesto said. Zimbabwe is in the grips of severe shortages of dollars that have curbed imports, unemployment rate is above 80 percent and public infrastructure like roads is in decay. Editing by James Macharia and Richard Balmforth

Zimbabwe's Mnangagwa urges party unity to deliver 'thunderous' win

Three years after expanding into Europe, Politico is now setting its sights on Asia. The digital media outlet, known for its blanket coverage of all things politics, is launching a partnership on Tuesday with the South China Morning Post, the 115-year-old English-language newspaper in Hong Kong acquired in 2015 by Chinese billionaire Jack Ma’s Alibaba Group Holding Ltd. The...

Politico Moves Into Asia, Joining With Jack Ma’s South China Morning Post

Peaceful revolution heralds change in Armenia 12:05pm EDT - 01:25 Opposition leader Nikol Pashinyan was elected Armenia's new prime minister on Tuesday, capping a peaceful revolution driven by weeks of mass protests against corruption and cronyism in the ex-Soviet republic. Opposition leader Nikol Pashinyan was elected Armenia's new prime minister on Tuesday, capping a peaceful revolution driven by weeks of mass protests against corruption and cronyism in the ex-Soviet republic. //reut.rs/2rtf64R

Peaceful revolution heralds change in Armenia

May 9 (Reuters) - UMH Properties Inc: * UMH PROPERTIES, INC. REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2018 * Q1 CORE FFO PER SHARE $0.18 * QTRLY NORMALIZED FFO PER SHARE $0.18 Source text for Eikon: Further company coverage:

BRIEF-Umh Properties Reports Q1 Core FFO Per Share $0.18

Investors, analysts and other interested parties can access Acadian Timber Corp.’s 2018 First Quarter Results via conference call or webcast on Tuesday May 8, 2018 at 9:00AM ET, please dial 1-866-521-4909 toll free in North America (Canada and the USA), or for overseas calls, please dial 1-647-427-2311 at approximately 8:50AM ET. For those unable to participate, a taped rebroadcast will be available until midnight June 8, 2018. To access this rebroadcast, please dial 1-800-585-8367 or 1-416-621-4642 Conference ID #5756359. All figures in Canadian dollars unless otherwise noted VANCOUVER, British Columbia, May 07, 2018 (GLOBE NEWSWIRE) -- Acadian Timber Corp. (“Acadian” or the “Company”) (TSX:ADN) today reported financial and operating results 1 for the three months ended March 31, 2018 (the “first quarter”). “Acadian posted a strong start to the year with operations benefiting from favourable winter conditions which supported seasonally strong log production. We believe we are well positioned to maintain this momentum through 2018”, commented Mark Bishop, Chief Executive Officer of Acadian. “We are pleased to announce that our Board of Directors has approved a 3% increase in Acadian’s quarterly dividend.” Acadian had a solid start to the year and posted strong performance for the three-month period ended March 31, 2018. The Company generated Adjusted EBITDA 1 of $8.9 million for the first quarter, up from $8.0 million in the prior year, as our operations benefitted from favourable winter harvest conditions and strong seasonal demand that led to an increase in log sales volumes of 17% compared to the same quarter of 2017. Demand for most of our products continues to be solid with our weighted average log selling price per cubic meter remaining in-line with the first quarter of last year. During the first quarter of 2018, Acadian generated $7.3 million of Free Cash Flow 1 and declared dividends of $4.6 million to our shareholders. This represents a payout ratio of 63%, which is comfortably below our long-term annual target of 95% but in-line with expectations given the seasonality of our operations. 1 This news release makes reference to Adjusted EBITDA, Adjusted EBITDA margin and Free Cash Flow which are key performance measures in evaluating Acadian’s operations and are important in enhancing investors’ understanding of Acadian’s operating performance. Acadian’s management defines Adjusted EBITDA as earnings before interest, taxes, fair value adjustments, recovery of or impairment of land and roads, unrealized exchange gain/loss on debt, depreciation and amortization and Adjusted EBITDA margin as Adjusted EBITDA as a percentage of its total revenue. Free Cash Flow is defined as Adjusted EBITDA less interest paid, current income tax expense, and capital expenditures plus net proceeds from the sale of fixed assets (selling price less gains or losses included in Adjusted EBITDA). As these performance measures do not have standardized meanings prescribed by International Financial Reporting Standards (“IFRS”), they may not be comparable to similar measures presented by other companies. As a result, we have provided in this news release reconciliations of net income, as determined in accordance with IFRS, to Adjusted EBITDA, Adjusted EBITDA margin and Free Cash Flow. Operating Leadership Transition Acadian announced today the start of a retirement transition for Marcia McKeague, Vice President of Operations for Acadian’s Maine Timberlands since Acadian’s inception. Marcia will retire at the end of 2018 and in the interim period will continue to work with the Acadian team supporting the leadership transition, while also working on various strategic initiatives. Marcia has had a long, accomplished career spanning over 35 years and is a well-recognized professional forester in the State of Maine. “The entire management team would like to thank Ms. McKeague for her passionate dedication and significant contributions to Acadian”, commented Mr. Bishop. Acadian also announced that Luc Ouellet has been promoted to Senior Vice President of Operations assuming responsibility for the Maine operations in addition to his current New Brunswick responsibilities. Mr. Ouellet has served as Vice President of Acadian’s New Brunswick operations since the company’s inception. He is a Registered Professional Forester in both New Brunswick and Maine, a member of the Professional Engineer Association in New Brunswick and has been involved in managing timberlands for over 30 years. “I look forward to working with Luc and Marcia through the transition, and fully anticipate that the Maine and New Brunswick teams under Luc’s leadership will continue to apply their long-demonstrated spirit of innovation to secure Acadian’s safety, sustainable forest management and financial performance as “best in class””, added Mr. Bishop. Review of Operations Financial and Operating Highlights Three Months Ended (CAD thousands, except per share information) March 31, 2018 March 25, 2017 Sales volume (000s m 3 ) 419.7 356.0 Net sales 1 $ 32,948 $ 28,012 Net income 1,986 4,758 Adjusted EBITDA $ 8,870 $ 8,030 Free Cash Flow $ 7,258 $ 7,388 Dividends declared 4,601 4,601 Payout ratio 63 % 62 % Per share – basic and diluted Net income $ 0.12 $ 0.28 Free Cash Flow 0.43 0.44 Dividends declared 0.275 0.275 1. Certain prior year amounts have been reclassified to conform to the current year presentation as a result of adoption of IFRS 15, Revenue From Contracts with Customers, on January 1, 2018 For the first quarter, Acadian generated net sales of $32.9 million, compared to $28.0 million in the comparable period of 2017, as favourable winter harvest conditions and strong demand for softwood sawlogs resulted in a 17% increase in total log sales volumes compared to the prior year. Acadian’s weighted average log selling price remained in-line with the prior year as the benefit from a demand-driven 5% increase in softwood sawlog prices was offset by changes in the sales mix. As a result of the aforementioned increase in log sales volumes, which was partially offset by an increase in variable log harvest costs per m 3 , Adjusted EBITDA climbed to $8.9 million during the quarter from $8.0 million in the prior year. However, the Adjusted EBITDA margin for the quarter of 27% was down from 29% in the prior year due to reduced higher and better use land sales in Maine as well as timing of operating costs. Net income totaled $2.0 million, or $0.12 per share, for the first quarter, compared to $4.8 million, or $0.28 per share, for the same period in 2017 as the aforementioned increase in Adjusted EBITDA was more than offset by the impact of foreign exchange revaluation on Acadian’s U.S. dollar denominated long-term debt. Acadian’s balance sheet continues to be solid with $97.6 million of net liquidity as at March 31, 2018, including funds available under Acadian’s Revolving Facility and our stand-by equity commitment with Brookfield. Total dividends declared to shareholders during the three months ended March 31, 2018 were $4.6 million, or $0.275 per share, unchanged from the prior year. Segment Performance New Brunswick Timberlands The table below summarizes operating and financial results for New Brunswick Timberlands. Three Months Ended March 31, 2018 Three Months Ended March 25, 2017 Harvest Sales Sales Results Harvest Sales Sales Results (000s m 3 ) (000s m 3 ) Mix ($000s) (000s m 3 ) (000s m 3 ) Mix ($000s) Softwood 158.6 157.4 54 % $ 8,885 135.3 126.5 47 % $ 7,258 Hardwood 93.0 83.0 28 % 6,566 115.3 94.7 36 % 7,602 Biomass 52.9 52.9 18 % 1,451 45.3 45.3 17 % 965 304.5 293.3 100 % 16,902 295.9 266.5 100 % 15,825 Timber services and other sales 1 6,218 5,428 Net sales 1 $ 23,120 $ 21,253 Adjusted EBITDA $ 5,857 $ 6,128 Adjusted EBITDA margin 25 % 29 % 1. Certain prior year amounts have been reclassified to conform to the current year presentation as a result of adoption of IFRS 15, Revenue From Contracts with Customers, on January 1, 2018 Net sales for our New Brunswick Timberlands totaled $23.1 million compared to $21.3 million in the prior year. Log sales volumes, excluding biomass, increased 9% to 240 thousand m 3 from 221 thousand m 3 in the first quarter of 2017 reflecting favourable harvest conditions, particularly for spruce and fir stands, strong seasonal demand for softwood sawlogs, and improved demand for softwood pulpwood. In addition, timber services and other sales increased 15% compared to the prior year primarily due to the timing of harvest activities. The weighted average log selling price during the quarter was $64.28 per m 3 , down from $67.19 per m 3 in the prior year. Demand for softwood sawlogs in New Brunswick remained strong with prices increasing 2%, however this was more than offset by lower relative volumes of higher-valued hardwood pulpwood and higher relative volumes of lower-valued softwood pulpwood. Prices for these products remained in-line with the prior year. Biomass product sales volumes increased by 17% year-over-year as shipments to export markets have recently resumed. The return of the export markets also resulted in a 26% increase in gross margin earned compared to the first quarter of 2017. Operating costs for the quarter were $17.3 million, compared to $15.1 million in the first quarter of 2017, primarily due to higher harvest volumes and the timing of timber services and other sales. Variable log harvest costs per m 3 increased 4% primarily due to longer hauling distances and increased fuel costs. Adjusted EBITDA was $5.9 million during the first quarter of 2018, compared to $6.1 million in the prior year, as the impact of the aforementioned increase in log sales volumes were more than offset by lower weighted average log selling prices and higher variable harvest costs per m 3 . Adjusted EBITDA margin decreased to 25% for the quarter from 29% during the same period in the prior year. There was one minor recordable safety incident among employees and none among contractors during the first quarter of 2018 at our New Brunswick Timberlands. Maine Timberlands The table below summarizes operating and financial results for Maine Timberlands. Three Months Ended March 31, 2018 Three Months Ended March 25, 2017 Harvest Sales Sales Results Harvest Sales Sales Results (000s m 3 ) (000s m 3 ) Mix ($000s) (000s m 3 ) (000s m 3 ) Mix ($000s) Softwood 91.6 91.2 72 % $ 7,321 62.8 62.6 70 % $ 4,751 Hardwood 33.9 30.7 24 % 2,254 29.4 25.7 29 % 1,892 Biomass 4.5 4.5 4 % 7 1.2 1.2 1 % 2 130.0 126.4 100 % 9,582 93.4 89.5 100 % 6,645 Other sales 246 114 Net sales $ 9,828 $ 6,759 Adjusted EBITDA $ 3,464 $ 2,156 Adjusted EBITDA margin 35 % 32 % Net sales totaled $9.8 million compared to $6.8 million for the same period last year as log sales volumes increased meaningfully to 122 thousand m 3 from 88 thousand m 3 in the prior year. This increase was primarily driven by strong seasonal demand for softwood sawlogs, which had been impacted in the prior year by high customer inventories and limited markets for sawmill residuals, as well as an increase in the number of operating days in the first quarter of 2018 as compared to the same quarter of 2017. The weighted average log selling price in Canadian dollar terms was $78.51 per m 3 , up from $75.26 per m 3 in the same period of 2017. The weighted average log selling price in U.S. dollar terms was $62.09 per m 3 , up 9% year-over-year, reflecting improved demand for softwood sawlogs and hardwood pulpwood as well as a favourable change in log sales product mix. Costs for the first quarter were $6.3 million, compared to $5.1 million during the same period in 2017 due to increased log sales volumes which were partially offset by a 6% decrease in variable log harvest costs per m 3 due to shorter hauling distances and foreign exchange. As a result of the aforementioned factors, Adjusted EBITDA for the quarter was $3.5 million compared to $2.2 million in the prior year and Adjusted EBITDA margin improved to 35%, relative to 32% in 2017. There were no recordable safety incidents among employees or contractors during the first quarter of 2018 at our Maine Timberlands. Adoption of IFRS 15, Revenue from contracts with customers IFRS 15 supersedes previous revenue standards (IAS 18, Revenue) and related interpretations and it applies to all revenue arising from contracts with customers. On January 1, 2018, the Company adopted IFRS 15 using the full retrospective approach. The adoption of this standard on January 1, 2018 resulted in a change in presentation from net to gross for timber services, which does not impact the Company’s operating earnings or net income. As a result of this change in presentation, net sales for the three-month period ended March 25, 2017 increased by $4.9 million, with a corresponding increase in operating costs and expenses. Net sales are net of discounts and rebates to customers. Revenue is recognized when control passes to the customer, which is generally when timber is delivered to the customer and actual quantities delivered are determined. Sales are governed primarily by contract and in some cases by standard industry terms. Pursuant to the Crown Lands Services Agreement, Acadian provides harvesting, transportation and other services to Crown licensees and sub-licensees. Acadian receives payment for these services which are recognized upon delivery of the timber and when actual quantities delivered are determined. Market Outlook The following contains forward-looking statements about Acadian Timber Corp.’s market outlook for the remainder of fiscal 2018. Reference should be made to the “Forward-looking Statements” section of this news release. For a description of material factors that could cause actual results to differ materially from the forward-looking statements in the following, please see the Risk Factors section of our management’s discussion and analysis of Acadian’s most recent Annual Report and Annual Information Form available on our website at www.acadiantimber.com or filed with SEDAR at www.sedar.com . Acadian’s key markets include softwood sawtimber, hardwood sawtimber and hardwood pulpwood. Northeast North American softwood dimension sawmills represent over one third of Acadian’s end-use market and are the primary market for our softwood sawtimber. Economic forecasters continue to call for steady growth in U.S. housing starts, with year-over-year improvements averaging over 7% in 2018 and 5% in 2019. While tight construction labour markets and declining housing affordability may present headwinds, the underlying fundamental driver of pent-up household formation remains highly compelling. Further encouraging is the transitioning mix in the U.S. to a higher and more typical single family home proportion of starts which consume significantly greater volumes of wood per start. As a result, North American sawtimber demand is expected to grow at over 4% per year over the next few years to support expanding domestic construction needs. Benchmark SPF and SYP lumber prices were up over the sequential quarter by 11% and 24%, respectively, passing on the full application of 20.23% average export duties on U.S.-bound shipments to consumers. However, while the duties were a factor in higher prices, the combination of robust demand and supply constraints including severe winter conditions and tight rail and truck transport availability were important factors driving pricing gains. While lumber pricing volatility should be expected due to uncertainty of ongoing application and pass through of duties or a potential future softwood lumber dispute settlement including quotas, forecasters anticipate the underlying supply demand drivers will continue to support strength in lumber pricing through 2019. By extension, Acadian anticipates continued strong support in end use markets for softwood sawtimber pricing through this period. Since the final determination of combined duties were announced by the U.S. Department of Commerce and finalized by the International Trade Commission in late Q4 2017, industry officials indicate there have been no material softwood negotiations between the U.S. and Canada. As there is little expectation that a softwood settlement will factor into the current broader NAFTA trade negotiations, there remains little visibility on relief from duties in the near to medium term. Hardwood sawtimber markets, typically oriented to millwork and higher value specialty markets, are expected to remain at healthy current levels throughout the remainder of the year. While hardwood pulpwood markets remain historically very strong, we expect seasonally high consumer inventories will continue to impact log pricing through mid-year. While continued oversupply of softwood sawmill residuals and softwood pulpwood markets remains a concern, regional timberland owners have continued to operate with reduced pulpwood harvest which we expect will continue though the remainder of the year. In New Brunswick, biomass markets have benefitted from the gradual recovery in export volumes which we expect will continue through the second half of the year. Quarterly Dividend Acadian is pleased to announce a dividend of $0.2825 per share, payable on July 13, 2018 to shareholders of record on June 30, 2018. Acadian Timber Corp. is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of 2.4 million acres of land under management, Acadian is the third largest timberland operator in New Brunswick and Maine. Acadian owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine, and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick. Acadian also owns and operates a forest nursery in Second Falls, New Brunswick. Acadian's products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 85 regional customers. Acadian’s business strategy is to maximize cash flows from its existing timberland assets while growing our business by acquiring assets on a value basis and utilizing our operations-oriented approach to drive improved performance. Acadian’s shares are listed for trading on the Toronto Stock Exchange under the symbol ADN. For further information, please visit our website at www.acadiantimber.com or contact: Jon Syrnyk Investor Relations Tel: 604-661-9622 Email: jsyrnyk@acadiantimber.com Forward-Looking Statements This News Release contains forward-looking information within the meaning of applicable Canadian securities laws that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Acadian Timber Corp. and its subsidiaries (collectively, “Acadian”), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this News Release, such statements may contain such words as “may,” “will,” “intend,” “should,” “expect,” “believe,” “outlook,” “predict,” “remain,” “anticipate,” “estimate,” “potential,” “continue,” “plan,” “could,” “might,” “project,” “targeting” or the negative of these terms or other similar terminology. Forward-looking information in this News Release includes, without limitation, statements made in the section entitled “Market Outlook” and other statements regarding management’s beliefs, intentions, results, performance, goals, achievements, future events, plans and objectives, business strategy, growth strategy and prospects, access to capital, liquidity and trading volumes, dividends, taxes, capital expenditures, projected costs, market trends and similar statements concerning anticipated future events, results, achievements, circumstances, performance or expectations that are not historical facts. These statements, which reflect management’s current expectations regarding future events and operating performance, are based on information currently available to management and speak only as of the date of this News Release. All forward-looking statements in this News Release are qualified by these cautionary statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, should not be unduly relied upon, and will not necessarily be accurate indications of whether or not such results will be achieved. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements include, but are not limited to: general economic and market conditions; product demand; concentration of customers; commodity pricing; interest rate and foreign currency fluctuations; seasonality; weather and natural conditions; regulatory, trade or environmental policy changes; changes in Canadian income tax law; economic situation of key customers; Brookfield’s ability to source and secure potential investment opportunities; the availability of potential acquisitions that suit Acadian’s growth profile; and other risks and factors discussed under the heading “Risk Factors” in each of the Annual Information Form dated March 28, 2018 and the Management Information Circular dated March 28, 2018, and other filings of Acadian made with securities regulatory authorities, which are available on SEDAR at www.sedar.com . Forward-looking information is based on various material factors or assumptions, which are based on information currently available to Acadian. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: anticipated financial performance; anticipated market conditions; business prospects; the economic situation of key customers; strategies; regulatory developments; exchange rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services and the ability to obtain financing on acceptable terms. Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Although the forward-looking statements contained in this News Release are based upon what management believes are reasonable assumptions, Acadian cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements in this News Release are made as of the date of this News Release, and should not be relied upon as representing Acadian’s views as of any date subsequent to the date of this News Release. Acadian assumes no obligation to update or revise these forward-looking statements to reflect new information, events, circumstances or otherwise, except as may be required by applicable law. Acadian Timber Corp. Interim Consolidated Statements of Net Income (unaudited) Three Months Ended (CAD thousands, except per share data) March 31, 2018 March 25, 2017 1 Net sales $ 32,948 $ 28,012 Operating costs and expenses Cost of sales 21,494 18,240 Selling, administration and other 2,506 2,239 Reforestation 7 — Depreciation and amortization 84 78 24,091 20,557 Operating earnings 8,857 7,455 Interest expense, net (958 ) (747 ) Other items Fair value adjustments and other (2,125 ) (1,475 ) Unrealized exchange (loss) / gain on long-term debt (2,288 ) 465 Gain on sale of timberlands 177 497 Loss on disposal of roads and other fixed assets (248 ) — Earnings before income taxes 3,415 6,195 Current income tax expense (1,365 ) (147 ) Deferred income tax expense (64 ) (1,290 ) Net income $ 1,986 $ 4,758 Net income per share – basic and diluted $ 0.12 $ 0.28 1. Certain prior year amounts have been reclassified to conform to the current year presentation as a result of adoption of IFRS 15, Revenue From Contracts with Customers, on January 1, 2018 Acadian Timber Corp. Interim Consolidated Statements of Comprehensive Income (unaudited) Three Months Ended (CAD thousands) March 31, 2018 March 25, 2017 Net income $ 1,986 $ 4,758 Other comprehensive income / (loss) Item that may be reclassified subsequently to net income: Unrealized foreign currency translation income gain / (loss) 3,366 (622 ) Deferred income tax (expense) / recovery (246 ) 93 Comprehensive income $ 5,106 $ 4,229 Acadian Timber Corp. Interim Consolidated Balance Sheets (unaudited) As at (CAD thousands) March 31, 2018 December 31, 2017 Assets Current Assets Cash and cash equivalents $ 22,264 $ 23,951 Accounts receivable and other assets 11,009 11,007 Inventory 2,289 1,226 35,562 36,184 Timber 330,862 330,879 Land, roads and other fixed assets 89,442 89,013 Intangible assets 6,140 6,140 $ 462,006 $ 462,216 Liabilities and shareholders’ equity Current liabilities Accounts payable and accrued liabilities $ 8,253 $ 12,476 Dividends payable to shareholders 4,601 4,601 12,854 17,077 Long-term debt 90,517 90,866 Deferred income tax liability 81,979 80,188 Shareholders’ equity 276,656 274,085 $ 462,006 $ 462,216 Acadian Timber Corp. Interim Consolidated Statements of Cash Flows (unaudited) Three Months Ended (CAD thousands) March 31, 2018 March 25, 2017 Cash provided by / (used for): Operating activities Net income $ 1,986 $ 4,758 Adjustments to net income: Deferred income tax expense 64 1,290 Depreciation and amortization 84 78 Fair value adjustments and other 2,125 1,475 Unrealized exchange loss / (gain) on long-term debt 2,288 (465 ) Gain on sale of timberlands (177 ) (497 ) Loss on disposal of roads and other fixed assets 248 — Net change in non-cash working capital balances and other (4,070 ) 878 2,548 7,517 Financing activities Dividends paid to shareholders (4,601 ) (4,183 ) (4,601 ) (4,183 ) Investing activities Additions to timber, land, roads and other fixed assets (5 ) (114 ) Acquisition of Katahdin Timberlands LLC — (1,276 ) Proceeds from sale of timberlands 192 837 Proceeds from sale of roads and other fixed assets 179 — 366 (553 ) (Decrease) / Increase in cash and cash equivalents during the period (1,687 ) 2,781 Cash and cash equivalents, beginning of period 23,951 19,654 Cash and cash equivalents, end of period $ 22,264 $ 22,435 Reconciliations to Adjusted EBITDA and Free Cash Flow Three Months Ended (CAD thousands) March 31, 2018 March 25, 2017 Net income $ 1,948 $ 4,758 Add / (deduct): Interest expense, net 958 747 Current income tax expense 1,365 147 Deferred income tax expense 64 1,290 Depreciation and amortization 84 78 Fair value adjustments and other 2,125 1,475 Unrealized exchange loss / (gain) on long-term debt 2,288 (465 ) Adjusted EBITDA $ 8,870 $ 8,030 Add / (deduct): Interest paid on debt, net (684 ) (721 ) Additions to timber, land, roads and other fixed assets (5 ) (114 ) Gain on sale of timberlands (177 ) (497 ) Loss on disposal of roads and other fixed assets 248 — Proceeds from sale of timberlands 192 837 Proceeds from sale of roads and other fixed assets 179 — Current income tax expense (1,365 ) (147 ) Free cash flow $ 7,258 $ 7,388 Dividends declared $ 4,601 $ 4,601 Payout ratio 63 % 62 % Source:Acadian Timber Corp.

Acadian Timber Corp. Reports Strong First Results and Dividend Increased by 3%

CNBC.com George Osodi | Bloomberg A worker fits parts to the underside of a raised Hyundai Accent car at a vehicle assembly plant in Lagos, Nigeria, on February 17, 2016. China has funneled billions of dollars into aid, loans and business deals on the African continent in recent years. But as ties continue to strengthen, a former Nigerian finance minister has warned that Beijing-style economic governance will not work for Africa. "China has been very helpful," particularly with building much-needed infrastructure in Africa, Ngozi Okonjo-Iweala, a two-time former finance minister in Nigeria, told CNBC on Wednesday. But while less economically advanced countries may wish to emulate China's economic success, the Chinese approach of state-led development would prove unsuccessful for the majority of Africa, she said. "In most African countries, it has been shown that state-led growth — pure state-led growth — has really not worked," Okonjo-Iweala said, citing the example of Nigeria's "vibrant private sector." Michael Nagle | Bloomberg | Getty Images Ngozi Okonjo-Iweala, former finance minister of Nigeria, during a panel discussion at the annual meeting of the Clinton Global Initiative in New York, U.S., on September 19, 2016. In her view, the Nigerian government, through state-owned enterprises, has not shown itself capable of managing its manufacturing and heavier industries, for example. Corruption could result from increased government intervention in business, Okonjo-Iweala said. "Some of our governments, when they get into direct provision of jobs and services — that's where corruption creeps in because it's not well-handled, the institutions of state are not strong enough, the checks and balances are not strong." Okonjo-Iweala served as Nigeria's finance minister twice, from 2003-2006 and most recently during 2011-2015 under previous President Goodluck Jonathan. She is a former director at the World Bank and is currently an adviser at the Asian Infrastructure Development Bank. Where China-style economic management has worked Nonetheless, one African country known for its economic partnership with China is Ethiopia . Infrastructure, as well as industrial parks to boost the manufacturing sector, have been built as part of Beijing's Belt and Road Initiative, a multi-billion dollar spending plan to resurrect ancient trading routes centered on China. Jenny Vaughan | AFP | Getty Images People working on an assembly line at Huajian shoe factory in Dukem, Ethiopia, on April 19, 2012. Ethiopia, an East African country that has seen double-digit gross domestic product (GDP) growth as recently as 2017, has echoed China's state-led development style. This approach "will only work in countries where the power is highly centralized," Anna Rosenberg, research director at emerging market advisory firm Frontier Strategy Group, told CNBC on Friday. Besides Ethiopia, she cited Mozambique and Rwanda as suitable examples. Nigeria's entrepreneurial society was less conducive to China-style economic management, she said. History could also play a role, Rosenberg suggested. While Cold War allegiances to the Soviet Union may be present in some African countries, Nigeria, by contrast, is a former British colony and therefore more espoused to a free market system. China's strategic partner "I think China sees Africa as a strategic continent that it wants to be a partner with," Okonjo-Iweala said. "Africa does have the natural resources that China lacks in many ways." But, she added that in her view, this partnership extends beyond pure economic deals. "I believe strongly there is overarching political and soft power that is involved." show chapters 2:29 PM ET Mon, 30 April 2018 | 04:06 For Okonjo-Iweala, it is important to demonstrate the fruits of African business deals with China to the public. She described Beijing-funded new airport terminals in the Nigerian capital Abuja as an example of this because "people will be able to see them, and witness them, and know that the money went into something concrete." Last week, China's state-run news agency Xinhua reported that Nigeria had signed a deal with the China Civil Engineering Construction Corporation to build a railway from its economic hub Lagos to Kano, a commercial hotspot in the north of the country. African countries must enter business deals with China "with our eyes open," Okonjo-Iweala said, to capitalize on its manufacturing expertise and technological development. Africa is in the process of expanding its manufacturing sector in an attempt to bolster economic development. Nigeria, as part of an attempt to wean itself off oil dependence, has grown its manufacturing base from just 2.5 percent of value added to GDP in 2009 to 8.8 percent in 2016, according to the World Bank. But with regards to regulating Africa-China business deals, "we are absolutely not there," Okonjo-Iweala said, although she added that this varied between African countries. Providing that fair and transparent agreements are drawn up, "we can work with China – why not?" Pius Utomi Ekpei | AFP | Getty Images Oshodi market in Lagos, Nigeria. Justina Crabtree Digital News Assistant Playing

China's state-led growth won't work in Africa: Former Nigeria finance minister

May 1, 2018 / 11:11 AM / a minute ago BRIEF-Thermo Fisher Scientific Signs New Agreements To Expand Oncomine Dx Target Test Reuters Staff May 1 (Reuters) - Thermo Fisher Scientific Inc: * THERMO FISHER SCIENTIFIC SIGNS NEW AGREEMENTS TO EXPAND ONCOMINE DX TARGET TEST * THERMO FISHER SCIENTIFIC - WILL RETAIN GLOBAL COMMERCIALIZATION RIGHTS FOR TEST, WILL LEAD ALL FILINGS OF SPMA IN ORDER TO SEEK APPROVAL FROM FDA Source text for Eikon: Further company coverage:

BRIEF-Thermo Fisher Scientific Signs New Agreements To Expand Oncomine Dx Target Test

WASHINGTON, May 4 (Reuters) - The U.S. National Security Agency collected more than 500 million phone call records of Americans last year, more than triple gathered in 2016, a U.S. intelligence agency report released on Friday said. The sharp increase to 534 million call records from 151 million occurred during the second full year of a new surveillance system established at the spy agency after U.S. lawmakers passed a law in 2015 that sought to limit its ability to collect such records in bulk. The reason for the spike was not immediately clear. The tally remained far less than an estimated billions of records collected per day under the NSA’s old bulk surveillance system, which was exposed by former U.S. intelligence contractor Edward Snowden in 2013. The metadata records collected by the NSA include the numbers and time of a call, but not its content. In a statement, Timothy Barrett, a spokesman at the Office of the Director of National Intelligence, which released the annual report, said the government “has not altered the manner in which it uses its authority to obtain call detail records.” The NSA has found that a number of factors may influence the amount of records collected, Barrett said. “These factors include the number of Court-approved selection terms - like a phone number - that are used by the target; the way targets use those selection terms; the amount of historical data that providers retain; and the dynamics of the ever-changing telecommunications sector,” Barrett said. “We expect this number to fluctuate from year to year.” (Reporting by Dustin Volz; editing by Grant McCool)

Spy agency NSA collected 500 mln U.S. call records in 2017, a sharp rise -official report

May 7, 2018 / 6:58 PM / Updated 19 minutes ago Trump to announce decision on Iran nuclear deal on Tuesday Reuters Staff 2 Min Read WASHINGTON (Reuters) - U.S. President Donald Trump said he would announce a decision on the future of the Iran nuclear deal on Tuesday as European countries piled pressure on Washington to remain in the 2015 agreement. President Donald Trump speaks during a roundtable discussion on tax reform at the Cleveland Public Auditorium in Cleveland, Ohio, U.S., May 5, 2018. REUTERS/Aaron P. Bernstein Trump has threatened to withdraw from the deal, which provided Iran with relief from economic sanctions in exchange for limiting its uranium enrichment capacity, unless European signatories to the accord fix what he has called its shortcomings. “I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm,” Trump said in a Twitter post on Monday. Trump has until May 12 to decide whether to reintroduce U.S. sanctions on Iran, which would deal a heavy blow to the agreement. Under the agreement with the United States, France, Germany, Britain, Russia and China, Iran strictly limited uranium enrichment capacity to try to show that it was not trying to develop atomic bombs. In exchange, Iran received relief from economic sanctions. Iranian President Hassan Rouhani hinted on Monday that Iran could remain in the nuclear accord even if the United States dropped out, but said that Tehran would fiercely resist U.S. pressure to limit its influence in the Middle East. Britain, France and Germany remain committed to the accord and, in an effort to address U.S. complaints, want to open talks on Iran’s ballistic missile programme, its nuclear activities beyond 2025 - when pivotal provisions of the deal expire - and its role in the wars in Syria and Yemen. British Foreign Secretary Boris Johnson, in Washington for talks this week, said the deal had weaknesses but these could be remedied. “At this moment Britain is working alongside the Trump administration and our French and German allies to ensure that they are,” he said in a commentary in the New York Times. Reporting by Doina Chiacu; Editing by Alistair Bell

Trump to announce decision on Iran nuclear deal on Tuesday

May 15 (Reuters) - cc * CARL ICAHN DISSOLVES SHARE STAKE IN AIG - SEC FILING * CARL ICAHN DISSOLVES SHARE STAKE IN PAYPAL HOLDINGS INC * CARL ICAHN CUTS SHARED SHARE STAKE IN FREEPORT-MCMORAN INC BY 35 PERCENT TO 50.2 MILLION SHARES * CARL ICAHN TAKES SHARED SHARE STAKE OF 30.3 MILLION SHARES IN NEWELL BRANDS INC * CARL ICAHN CUTS SHARED SHARE STAKE IN MANITOWOC CO INC BY 36.3 PERCENT TO 1.7 MILLION SHARES * CARL ICAHN: CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017 Source For the quarter ended Mar 31, 2018: bit.ly/2rIoimG Source For the quarter ended Dec 31, 2017: bit.ly/2ELwpXo Our Standards: The Thomson Reuters Trust Principles.

BRIEF-Carl Icahn Dissolves Share Stake In AIG, Paypal

Ocado's robot army courts global food retailers 11:49am EDT - 01:56 Supermarkets around the world are struggling to develop a sustainable system that delivers food to customers. In the last six months three of the biggest have turned to Ocado, set up by three former Goldman Sachs bankers 18 years ago. Supermarkets around the world are struggling to develop a sustainable system that delivers food to customers. In the last six months three of the biggest have turned to Ocado, set up by three former Goldman Sachs bankers 18 years ago. //reut.rs/2KMmotv

Ocado's robot army courts global food retailers

May 1, 2018 / 4:07 PM / Updated 20 minutes ago Facebook to allow users to clear browsing history Reuters Staff 1 Min Read May 1 (Reuters) - Facebook Inc Chief Executive Officer Mark Zuckerberg on Tuesday said the social network is building a new privacy control called “clear history” to allow users to delete browsing history, and he plans to discuss the feature at Facebook’s annual F8 conference. “One thing I learned from my experience testifying in Congress is that I didn’t have clear enough answers to some of the questions about data,” he wrote in a Facebook post. (Reporting by Munsif Vengattil in Bengaluru; Editing by Bernard Orr)

Facebook to allow users to clear browsing history

Dow Jones, a News Corp company News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Dow Jones

米金融政策、影響力が誇張されがち＝FRB議長 - WSJ

Hundreds of migrants evacuated from Paris camp Wednesday, May 30, 2018 - 00:46 French riot police were on standby in northeast Paris as hundreds of migrants living in makeshift camps were evacuated and escorted to temporary accommodation centers. Rough cut (no reporter narration). ▲ Hide Transcript ▶ View Transcript French riot police were on standby in northeast Paris as hundreds of migrants living in makeshift camps were evacuated and escorted to temporary accommodation centers. Rough cut (no reporter narration). Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2IWZVN1

Hundreds of migrants evacuated from Paris camp

May 2, 2018 / 4:16 PM / a minute ago UPDATE 2-ATP World Tour 250, Istanbul Men's Singles Results Reuters Staff 1 Min Read May 2 (OPTA) - Results from the ATP World Tour 250, Istanbul Men's Singles matches on Wednesday .. 2nd Round .. Laslo Djere (SRB) beat 3-Andreas Seppi (ITA) 6-3 6-7(4) 6-3 5-Paolo Lorenzi (ITA) beat Marco Trungelliti (ARG) 6-2 7-6(5) Rogerio Dutra Silva (BRA) beat 6-Viktor Troicki (SRB) 6-2 6-3 Taro Daniel (JPN) beat 4-Aljaz Bedene (SLO) 6-2 6-2

UPDATE 2-ATP World Tour 250, Istanbul Men's Singles Results

U.S. Homeland Security Secretary Kirstjen Nielsen told colleagues she was close to resigning after being criticized by President Donald Trump during a Cabinet meeting on Wednesday, the New York Times reported on Thursday , citing several current and former officials familiar with the incident. Nielsen, a protegee of White House Chief of Staff John Kelly , has drafted a resignation letter but has not submitted it, two of the officials said, according to the Times. During the meeting, Trump blamed Nielsen for what he said was her failure to secure U.S. borders, the newspaper cited the officials as saying. show chapters Trump reviews border wall prototypes 2:21 PM ET Wed, 14 March 2018 | 02:57 A senior administration official confirmed the incident to Reuters, saying: "He lit into her." A DHS spokesman said in a statement on Thursday that the New York Times story "alleging that the Secretary drafted a resignation letter yesterday and was close to resigning is false." Nielsen "is hard at work today on the President's security-focused agenda and supporting the men and women of @DHSgov," he added. The White House declined specific comment on whether Trump berated Nielsen, her supposed resignation letter and on whether Trump retained confidence in Nielsen, who took over at DHS in December. "The president is committed to fixing our broken immigration system and our porous borders. We are a country of laws and the president and his administration will enforce them," White House spokeswoman Sarah Sanders said in a statement on Thursday. Nielsen, in a statement on Thursday, said she shared Trump's frustration that "existing loopholes and the lack of Congressional action have prevented this administration from fully securing the border and protecting the American people." "These are complex issues and I will continue to direct the Department to do all we can to implement the President's security-focused agenda," she added, without saying anything about resignation plans. Nielsen is in charge of the 20,000 border agents who work at Immigration and Customs Enforcement. One person at the meeting said Trump railed at the whole Cabinet over what he said was its lack of progress in keeping out illegal immigrants, the Times said. Trump has become frustrated in recent weeks over growing numbers of illegal border crossings after a drop during his first year in office, the Times said, citing several officials. Trump believes Nielsen and other DHS officials are resisting directives that parents be separated from their children when families cross illegally into the United States, to deter them from entering, the newspaper said, citing the officials. Trump's hard line against illegal immigration is a centerpiece of his presidency as he pursues an "America First" agenda that includes a proposed wall along the U.S. - Mexico border, saying it was needed to stem the flow of immigrants and drug trafficking.

Homeland Security chief Kirstjen Nielsen was close to resigning after Trump 'lit into her'

SINGAPORE, May 04, 2018 (GLOBE NEWSWIRE) -- ASLAN Pharmaceuticals Limited (TPEx:6497.TT), a clinical-stage biopharmaceutical company targeting cancers that are both highly prevalent in Asia and orphan indications in the United States and Europe, today announced that it has priced an underwritten public offering of 6,000,000 American Depositary Shares (ADSs) at a public offering price of $7.03 per ADS. Each ADS represents 5 ordinary shares of ASLAN. ASLAN’s ordinary shares are currently listed for trading on the Taipei Exchange (TPEx). The gross proceeds to ASLAN, before deducting underwriting discounts, commissions and other offering expenses, are expected to be approximately $42.2 million. All of the ADSs in the offering are being sold by ASLAN. In addition, ASLAN has granted the underwriters of the offering an option, exercisable at any time through and until one day before the closing date of this offering, to purchase up to an additional 900,000 ADSs solely to cover over-allotments at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about 8 May 2018, subject to customary closing conditions. The ADSs are expected to begin trading on 4 May 2018 on the Nasdaq Global Market under the trading symbol “ASLN”. ASLAN expects to use the net proceeds from the offering to continue to invest in the clinical development of its product candidates, including for the following planned and ongoing clinical trials: global pivotal clinical trial for varlitinib in biliary tract cancer; China pivotal clinical trial for varlitinib in biliary tract cancer; global phase 2/3 clinical trial for varlitinib in gastric cancer; global clinical trials for ASLAN003 in AML; and ASLAN004 preclinical and phase 1 clinical trials. The remaining net proceeds are expected to fund new and other ongoing research and development activities, working capital and other general corporate purposes. Leerink Partners and Piper Jaffray & Co. are acting as joint book-running managers for this offering. BTIG, H.C. Wainwright & Co. and CLSA Limited are acting as co-managers for this offering. The ADSs described above are being offered by ASLAN pursuant to a registration statement on Form F-1 previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on 4 May 2018. A final prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov . Copies of the final prospectus, when available, may be obtained from Leerink Partners LLC, Attn: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 800-808-7525 ext. 6132 or by email at Syndicate@Leerink.com ; or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at 800-747-3924 or via email at prospectus@pjc.com . This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other 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 other jurisdiction. About ASLAN Pharmaceuticals ASLAN Pharmaceuticals is a clinical-stage oncology-focused biopharmaceutical company developing novel therapeutics for global markets. ASLAN targets diseases that are both highly prevalent in Asia and orphan indications in the United States and Europe. Led by a senior management team with extensive experience in global and regional development and commercialization, ASLAN is headquartered in Singapore and has offices in Taiwan and China. ASLAN’s portfolio is comprised of four product candidates which target validated growth pathways applied to new patient segments, novel immune checkpoints and novel cancer metabolic pathways. ASLAN’s partners include Array BioPharma, Bristol-Myers Squibb, Almirall and CSL. Forward Looking Statements This press release contains forward-looking statements regarding ASLAN’s current expectations. These forward-looking statements include, without limitation, references to ASLAN’s expectations regarding the commencement of trading of ADSs on the Nasdaq Global Market, the completion of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to completion of the public offering and the satisfaction of customary closing conditions related to the public offering. These and other risks and uncertainties are described more fully in the section captioned “Risk Factors” in the final prospectus related to the public offering to be filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and ASLAN undertakes no duty to update such information except as required under applicable law. Media and IR contacts Robert H Uhl Westwicke Partners Tel: +1 858 356 5932 Email: robert.uhl@westwicke.com Emma Thompson / Stephanie Tan Spurwing Communications Tel: +65 6340 7287 Email: ASLAN@spurwingcomms.com Chris Fang ASLAN Pharmaceuticals Tel: +886 2 2758 3333 E-mail: media@aslanpharma.com Source:ASLAN Pharmaceuticals Limited

ASLAN Pharmaceuticals Prices Initial Public Offering of Its American Depositary Shares

May 29, 2018 / 9:21 AM / Updated an hour ago WHO's Congo Ebola plan assumes 100-300 cases over three months Tom Miles 3 Min Read GENEVA (Reuters) - The World Health Organization assumes 100-300 cases of Ebola in Democratic Republic of Congo between May and July, under a revised response plan to the outbreak that it published on Tuesday. An earlier version of the plan, based on information to May 15, had assumed 80-100 cases. The WHO says the new figure is not a prediction but part of its modelling to plan and budget for a response. Congo’s Health Ministry said late on Monday there had been 54 cases of Ebola in the outbreak - 35 confirmed, 13 probable and six suspected - and 25 deaths. There have been no deaths or new confirmed cases in the past two days. The deadly virus spreads easily through bodily fluids and eight previous outbreaks in Congo have claimed between 1 and 256 lives. A West African outbreak that began in late 2013 killed 11,300 before being brought under control in 2016. The WHO’s plan for Congo assumes each rural Ebola case would have 10 potentially infected contacts and each urban case would have 30. As of May 26, there were 906 contacts being followed, WHO spokesman Tarik Jasarevic said. Related Coverage Almost all in Congo city at immediate risk of Ebola now vaccinated - WHO Identifying contacts is crucial for stopping the spread of the disease. Health workers hope to vaccinate every contact to effectively ringfence each Ebola patient and prevent further spread. The WHO estimates 1,000 people move each day through major points of entry connected to Bikoro health zone, the remote area of Equateur province where the outbreak was first declared. Around 50 per day go by boat from Bikoro to neighbouring Republic of Congo. Since the plan was written, the disease has spread to the provincial capital Mbandaka, with an estimated population of 1.5 million people, and WHO has more than doubled its response budget, to $56 million from an initial $26 million. The plan also sets out targets for the disease response, including that 100 percent of new cases should come from known contacts and none of the cases should be health care workers. Zero contacts should be lost, and all people who die from suspected or probable Ebola should be buried in a safe way, to prevent the infection spreading. The case fatality ratio for all confirmed cases admitted into Ebola treatment centres should be less than 50 percent, it said. Reporting by Tom Miles; editing by John Stonestreet

WHO's Congo Ebola plan assumes 100-300 cases over three months

SINGAPORE, May 24 (Reuters) - Singapore’s first quarter economic growth was revised higher, with firm expansion in the city-state’s manufacturing sector, data showed on Thursday. The economy grew 1.7 percent in the January-March quarter from the previous three months on an annualised and seasonally adjusted basis, revised final figures from the Ministry of Trade and Industry showed. The government’s initial estimate, released on April 13, had showed the economy grew 1.4 percent. Gross domestic product grew 4.4 percent in the first quarter from a year earlier, faster than the advance estimate of 4.3 percent growth. The MTI also revised its GDP forecast range for 2018 to 2.5 to 3.5 percent, from 1.5 to 3.5 percent previously. The median forecast of 11 analysts in a Reuters poll predicted 1.4 percent quarter-on-quarter growth and a 4.3 percent annual expansion. The city-state’s economy grew 3.6 percent in 2017, the ministry said, the fastest pace in 3 years. (Reporting by Fathin Ungku; Editing by Sam Holmes)

Singapore Q1 GDP growth revised up to 1.7 pct q/q

SURABAYA, Indonesia (Reuters) - A family of six launched suicide attacks on Christians attending Sunday services at three churches in Indonesia’s second-largest city of Surabaya, killing at least 13 people and wounding 40, officials said. Indonesia, the world’s largest Muslim-majority country, has seen a recent resurgence in homegrown militancy and police said the family who carried out Sunday’s attacks were among 500 Islamic State sympathizers who had returned from Syria. “The husband drove the car, an Avanza, that contained explosives and rammed it into the gate in front of that church,” East Java police spokesman Frans Barung Mangera told reporters at the regional police headquarters in Surabaya. The wife and two daughters were involved in an attack on a second church and at the third church “two other children rode the motorbike and had the bomb across their laps”, Mangera said. The two daughters were aged 12 and 9 while the other two, thought to be the man’s sons, were 18 and 16, police said. Police blamed the bombings on the Islamic State-inspired group Jemaah Ansharut Daulah (JAD). JAD is an umbrella organization on a U.S. State Department terrorist list that is estimated to have drawn hundreds of Islamic State sympathizers in Indonesia. Islamic State claimed responsibility for the attacks, in a message carried on its Amaq news agency. “This act is barbaric and beyond the limits of humanity, causing victims among members of society, the police and even innocent children,” President Joko Widodo said during a visit to the scene of the attacks. Indonesian terrorism analyst Rakyan Adibrata said it was the first time children had been involved in attacks in the country. Related Coverage Indonesia president says attacks on churches "barbaric" East Java police spokesman Mangera said at least 13 people had been killed and 40 had been taken to hospital, including two police officers. He called on people to remain calm. Streets around the bombed churches were blocked by checkpoints and heavily armed police stood guard as forensic and bomb squad officers combed the area for clues. Television footage showed one church where the yard in front was engulfed in fire with thick, black smoke billowing up. A large blast was heard hours after the attacks, which Mangera said was a bomb disposal squad dealing with a device. JAIL STANDOFF The attacks are the deadliest in Indonesia linked to Islamic State and the worst since October 2005, when three suicide bombers blew themselves up in Bali restaurants killing 20. They came days after militant Islamist prisoners killed five members of an elite counter-terrorism force during a 36-hour standoff at a high-security jail near Jakarta. Police Chief Tito Karnavian told reporters that because many militant leaders had been captured “these groups are starting to ... retaliate.” Wawan Purwanto, communication director at Indonesia’s intelligence agency, said the main target of militants remained the security forces, but “there are alternative (targets) if the main targets are blocked”. Police stand guard near the site of a blast at the Pentecost Church Central Surabaya (GPPS), in Surabaya, East Java, Indonesia May 13, 2018 in this photo taken by Antara Foto. Antara Foto/Moch Asim / via REUTERS At St Mary’s catholic church, the first place of worship to be attacked, the bombing happened after an earlier mass was over and when the church was getting ready to hold another service. Separately, an internal police report reviewed by Reuters said a suspected bomb exploded in a car in the parking lot of a Pentacostal church, setting alight dozens of motorbikes. In the third location, the Indonesian Christian Church, veiled women entered the church’s yard where they were stopped by a security guard before an explosion occurred at the same spot, according to the police report. POPE OFFERS PRAYERS Jeirry Sumampow, a spokesman for Indonesia’s church association (PGI), called on the government for more help for security at churches. Pope Francis offered his prayers for the victims. “I am particularly close to the dear people of Indonesia, especially to the communities of Christians of the city of Surabaya, which were hit hard by the serious attack on places of worship,” he said during his Sunday prayer in Rome. “Together we invoke the God of peace (asking him) to cease these violent actions and (to make sure) that in the heart of all there could be a space not feelings of hatred and violence, but of reconciliation and fraternity.” Nearly 90 percent of Indonesians are Muslim, but the country is also home to sizeable communities of Hindus, Christians, Buddhists, and people who adhere to traditional beliefs. Indonesia has had some major successes tackling militancy inspired by al Qaeda’s attacks on the United States in 2001. But there has been a resurgence of Islamist attacks in recent years, including in January 2016 when four suicide bombers and gunmen attacked a shopping area in central Jakarta. Slideshow (4 Images) Churches have also been targeted previously, including near-simultaneous attacks over Christmas in 2000 that killed about 20 people. GRAPHIC: here Additional reporting by Fransiska Nangoy, Agustinus Beo Da Costa, Gayatri Suroyo, Francesca Landini and Sami Aboudi; Writing by Ed Davies; Editing by Simon Cameron-Moore and Lincoln Feast.

Suicide bombers attack churches in Indonesia, at least 6 dead

It's really 'smart' to worry about Europe, says chief strategist. Here's why 2 Hours Ago Robert Albertson, Sandler O'Neill & Partners chief strategist, provides insight to the ripple effect of Italy's political chaos and the vulnerability of banks.

It's really 'smart' to worry about Europe, says chief strategist. Here's why

GENEVA (Reuters) - Trade tensions may be starting to hold back global merchandise trade, the World Trade Organization said on Friday, as it published an outlook indicator showing growth was above trend this quarter but slowing down. FILE PHOTO: The headquarters of the World Trade Organization (WTO) are pictured in Geneva, Switzerland, April 12, 2017. REUTERS/Denis Balibouse The World Trade Outlook Indicator (WTOI), a composite published since the third quarter of 2016, showed a reading of 101.8 compared to 102.3 in February. “The recent dip in the WTOI reflects declines in component indices for export orders in particular but also for air freight, which may be linked to rising economic uncertainty due to increased trade tensions,” the WTO said in a statement. The WTO forecast in April that goods trade would grow by 4.4 percent this year after a decade averaging 3.0 percent, but it warned growth could be undermined if governments resorted to restrictive policies and a tit-for-tat battle. “Risks to the trade forecast posed by rising trade tensions remain present,” the WTO said on Friday. The WTOI includes seven components that serve as leading indicators of trade. One of them, export orders, slumped from a reading of 102.8 in February to a below-trend 98.1 in the latest indicator. The reading for air freight also lost momentum in recent months, while container port throughput showed signs of plateauing and automobile sales and agricultural raw materials were both dragging down the overall reading, at 97.9 and 95.9 respectively, the WTO said. But the index for electronic components rebounded to 104.2, from 94.1 in February. Reporting by Tom Miles; Editing by Andrew Roche

WTO detects signs of tensions sapping global trade growth

RANCHO CORDOVA, Calif., Cesca Therapeutics Inc. (NASDAQ:KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, today announced financial and operating results for the first quarter ended March 31, 2018, and provided a corporate update. First Quarter and Recent Highlights Announced first two evaluation agreements with leading academic research institutions for the Company’s X-Series™ products for automated, closed system cellular processing. Presented two posters pertaining to the Company’s X-BACS™ and X-Wash™ cellular processing systems at the International Society for Cellular Therapy (ISCT) 2018 Annual Meeting in Montreal, Québec. Announced the release of the X-Mini™ cell selection kit for the CAR-T research market. Filed a new patent application with the US Patent and Trademark Office (USPTO) for an innovation to Cesca’s CAR-TXpress™ technology, which will allow for the simultaneous purification and activation of T-cells, thereby simplifying the CAR-TXpress workflow and tangibly accelerating the CAR-T cell manufacturing process. Initiated entry into the contract development and manufacturing (CDMO) space with signing of an exclusive license agreement with China-based IncoCell Tianjin Ltd. for CAR-T related CDMO services covering the Asia Pacific region. Launched the second-generation AXP ® II system for advanced cord blood and peripheral blood processing. “Since our acquisition of SynGen in July of last year, we have made substantial progress advancing our novel CAR-TXpress solution, and related X-Series kits, toward commercialization,” said Dr. Chris Xu, chief executive officer of Cesca. “Notably, we introduced our first X-Series kit, the X-Mini, which targets the large and growing CAR-T research market, and subsequently entered into our first evaluation agreements with two leading academic research institutions focused on cell therapies. In addition, we continued to execute on our strategy to become a diversified CAR-T service provider with the signing of the CDMO agreement with IncoCell, the first of several CDMO collaborations that we are pursuing in key markets, including the U.S. Finally, we bolstered our intellectual property estate with the filing of an additional patent that further differentiates our proprietary CAR-TXpress workflow. We remain very optimistic about the numerous opportunities within the rapidly-emerging immuno-oncology field and are positioning the Company to respond to unmet market needs. Our goal is to maintain our current momentum, and we believe we have set the stage for 2018 to be a truly transformational year for our company.” Financial Results for the First Quarter Ended March 31, 2018 Net revenue. Net revenues for the three months ended March 31, 2018 were $1.9 million compared to $3.3 million for the comparable period in 2017. The decline was driven by decreased AXP disposable sales in China. Gross profit. Gross profit for the three months ended March 31, 2018 was $352,000, or 19.0% of net revenue, compared to $1.4 million, or 42.0% of net revenue for the comparable period in 2017. The decrease in gross profit margin percentage was primarily due to decreased overhead absorption and higher costs as a result of the merger with SynGen, which was completed in July 2017. Sales and marketing expenses. Sales and marketing expenses for the three months ended March 31, 2018 were $325,000 compared to $335,000 for the comparable period in 2017. Research and development expenses. Research and development (R&D) expenses for the three months ended March 31, 2018 were $1.0 million, compared to $567,000 for the comparable period in 2017. The increase is primarily due to additional headcount and expenses relating to the ongoing development of the Company’s X-Series products and CAR-TXpress platform. General and administrative expenses. General and administrative expenses for the three months ended March 31, 2018 were $2.2 million compared to $2.6 million for the comparable period in 2017. The decrease was driven by a reduction in legal expenses due to the settlement of the SynGen litigation. Net loss attributable to common stockholders. For the three months ended March 31, 2018, the Company reported a net loss attributable to common stockholders of $3.0 million, or ($0.27) per share, based on approximately 11.1 million weighted average basic and diluted common shares outstanding. This compares to a net loss of $2.1 million, or ($0.21) per share, based on approximately 9.9 million weighted average basic and diluted common shares outstanding for the three months ended March 31, 2017. Conference Call and Webcast Information Cesca will host a conference call and audio webcast today at 4:30 p.m. EDT (1:30 p.m. PDT). Participants may access the call by dialing 1-800-860-2442 within the U.S. or 1-412-858-4600 outside the U.S. and referencing “Cesca.” To access a live webcast of the call, please visit: http://services.choruscall.com/links/kool180514.html . A replay of the call can be accessed approximately one hour after completion of the call and will be available until June 14, 2018. To listen to the replay, dial 1-877-344-7529 within the U.S. or 1-412-317-0088 outside the U.S. and reference access code 10119918. About Cesca Therapeutics Inc. Cesca Therapeutics develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, ThermoGenesis, provides a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. The Company is developing its automated, functionally-closed CAR-TXpress™ platform to streamline the manufacturing process for the emerging CAR-T immunotherapy market. Forward-Looking Statement The statements contained herein may include statements of future expectations and other that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics’ is set forth under the caption "Risk Factors" in Cesca Therapeutics’ annual report on Form 10-K and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the . Company Contact: Cesca Therapeutics Inc. Wendy Samford 916-858-5191 ir@cescatherapeutics.com Investor Contact: Rx Communications Paula Schwartz 917-322-2216 pschwartz@rxir.com Financials Cesca Therapeutics Inc. Condensed Consolidated Balance Sheets March 31, 2018 December 31, 2017 (Unaudited) ASSETS Current assets: Cash and cash equivalents $2,872,000 $3,513,000 Accounts receivable, net 1,649,000 2,549,000 Inventories 5,221,000 4,798,000 Prepaid expenses and other current assets 557,000 594,000 Total current assets 10,299,000 11,454,000 Restricted cash 1,000,000 1,000,000 Equipment, net 3,265,000 2,996,000 Goodwill 13,976,000 13,976,000 Intangible assets, net 21,590,000 21,629,000 Other assets 51,000 56,000 Total assets $50,181,000 $51,111,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $2,415,000 $2,079,000 Other current liabilities 3,980,000 3,385,000 Total current liabilities 6,395,000 5,464,000 Long-term liabilities 12,666,000 12,435,000 Total liabilities 19,061,000 17,899,000 Cesca Therapeutics Inc. stockholders' equity 32,017,000 33,699,000 Noncontrolling interests (897,000) (487,000) Total liabilities and stockholders’ equity $50,181,000 $51,111,000 Cesca Therapeutics Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended March 31, 2018 2017 Net revenues $1,867,000 $3,252,000 Cost of revenues 1,515,000 1,875,000 Gross profit 352,000 1,377,000 Expenses: Sales and marketing 325,000 335,000 Research and development 1,041,000 567,000 General and administration 2,242,000 2,591,000 Total operating expenses 3,608,000 3,493,000 Loss from operations (3,256,000) (2,116,000) Fair value change of derivative instruments 259,000 69,000 Interest expense (361,000) (19,000) Other (expenses) (12,000) (31,000) Net loss (3,370,000) (2,097,000) Loss attributable to noncontrolling interests (410,000) -- Net loss attributable to common stockholders $(2,960,000) $(2,097,000) Cesca Therapeutics Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) Three Months Ended March 31, 2018 2017 Cash flows from operating activities: Net cash used in operating activities (2,054,000) (2,543,000) Cash flows from investing activities: Capital expenditures (290,000) (33,000) (290,000) (33,000) Cash flows from financing activities: Payments on capital lease obligations (9,000) (23,000) Proceeds from issuance of common stock, net 1,213,000 -- Proceeds from long-term debt-related party 500,000 1,500,000 Payment of financing cost -- (13,000) Net cash provided by financing activities 1,704,000 1,464,000 Effects of foreign currency rate changes on cash and cash equivalents (1,000) 4,000 Net decrease in cash, cash equivalents and restricted cash (641,000) (1,108,000) Cash and cash equivalents at beginning of period 4,513,000 4,899,000 Cash and cash equivalents at end of period $3,872,000 $3,791,000 Source:Cesca Therapeutics Inc.

Cesca Therapeutics Announces First Financial and Provides Corporate Update

BARCELONA (Reuters) - A small Catalan separatist party said on Sunday it would abstain in a second vote to elect a regional leader paving the way for pro-independence candidate Quim Torra to secure a majority and form a government. Quim Torra, the candidate proposed by former Catalan leader Carles Puigdemont to head the regional Catalan government, votes during his investiture debate at the regional parliament in Barcelona, Spain, May 12, 2018. REUTERS/Juan Medina Torra, a close ally of former leader Carles Puigdemont, failed to win sufficient votes to become leader on Saturday. But if the far-left CUP party’s four parliamentarians abstain in the vote on Monday, he is expected to secure the simple majority needed to become leader, ending a political impasse that has lasted for months. In his address to the regional parliament on Saturday, Torra said he would work towards the creation of a Catalan republic and respect the outcome of last year’s vote on secession, which was deemed illegal by Madrid. Catalonia has been without an administration since December despite pro-independence parties winning most seats in a December election called by Spanish Prime Minister Mariano Rajoy after Puigdemont’s secession attempt. Reporting by Sam Edwards. Editing by Jane Merriman

Catalan secessionists poised to elect new regional leader in second vote

BERLIN, May 23 (Reuters) - The northern German city of Hamburg will introduce a ban on old diesel vehicles on two streets on May 31, the city’s government said on Wednesday, raising pressure on Volkswagen and other carmakers to provide fixes for polluting models. The move follows a ruling by Germany’s top administrative court earlier this month to bring air pollution levels in line with European Union rules. Chancellor Angela Merkel’s government has long sought to avoid bans. (Reporting by Madeline Chambers Editing by Maria Sheahan)

German city of Hamburg to ban old diesel vehicles in some areas from May 31

April 30 (Reuters) - Fintech Group AG: * MANAGEMENT MEETS GUIDANCE FOR THE THIRD CONSECUTIVE YEAR, 2017 NET PROFIT RISES BY 36% YOY * FY NET PROFIT SOARED BY MORE THAN A THIRD TO 16.8M EUR * RECORD START TO YEAR IN Q1-18: +10K B2C CLIENTS IN Q1 (+5%), 3.7M SETTLED TRANSACTIONS (+31% COMPARED TO Q1-17) * REITERATES ITS GUIDANCE FOR CURRENT YEAR * FY EBITDA ROSE 22% TO 31.7 MILLION EUR, COMPARED TO 2016 ADJUSTED EBITDA OF 26.1 MILLION EUR (REPORTED EBITDA 30.6M EUR) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

BRIEF-FinTech Group FY Net Profit Up 36 Pct At 16.8 Million EUR

St. Louis Cardinals left fielder Marcell Ozuna, who overslept and was a late arrival to Busch Stadium, was scratched from the lineup for Wednesday’s day game against the Kansas City Royals. May 21, 2018; St. Louis, MO, USA; St. Louis Cardinals left fielder Marcell Ozuna (23) hits a single off Kansas City Royals starting pitcher Ian Kennedy (not pictured) during the fifth inning at Busch Stadium. Mandatory Credit: Jeff Curry-USA TODAY Sports “I came to the park and said sorry to my teammates and my coach,” Ozuna told reporters following the Cardinals’ 5-2 loss in 10 innings. “Everybody makes a mistake. Today it was me.” His replacement in left field, rookie Tyler O’Neill, made an error in the sixth inning that helped the Royals score their second run, which tied the game. O’Neill finished 1-for-4 at the plate and scored a run. Cardinals manager Mike Matheny is a stickler for on-time arrivals, so he made the decision to pull Ozuna from the lineup. —The National League-best Milwaukee Brewers will add more reinforcements on Thursday when first baseman/outfielder Ryan Braun and right-hander Zach Davies are reinstated from the disabled list. First baseman/outfielder Ji-Man Choi, who hit .267 with a home run in six games with Milwaukee, and right-hander Brandon Woodruff, who has a 6.05 ERA in eight games (three starts), were optioned to Triple-A Colorado Springs. Davies, a 17-game winner last year, has a 4.24 ERA in six starts with the Brewers this season. He has been sidelined since May 3 with right rotator cuff inflammation. Braun returns after missing the team’s past nine games with middle back tightness. The 34-year-old has hit .222 with five home runs and 20 RBIs this season. —Oakland Athletics slugger Khris Davis was placed on the disabled list due to a strained right groin muscle, the team announced. Davis sustained the injury during a swing on Sunday in Oakland’s game against the Toronto Blue Jays. Davis, who is batting .235 with 13 home runs and 38 RBIs, could miss anywhere from 10 days to three weeks. Oakland recalled infielder Franklin Barreto and right-hander Daniel Gossett from Triple-A Nashville. The club also designated right-hander Wilmer Font for assignment. Barreto was batting .235 with six homers and 17 RBIs in 32 games at Nashville. Gossett is 0-1 with an 11.05 ERA in two games for Oakland this season. He is 4-0 with a 1.63 ERA in seven appearances (five starts) for Nashville. —The Seattle Mariners and the Washington State Major League Baseball Stadium Public Facilities District (PFD) came to terms on a new 25-year lease for the team at Safeco Field, which includes a long-term plan to spend up to $385 million on capital improvements. The agreement, which takes effect next year, also allows for a pair of three-year options that could push the terms through 2049. The team’s current lease ends this year. “We want this ballpark to be our home for the next 100 years. Safeco Field should be to Seattle and to the Mariners what Wrigley Field is to Chicago and the Cubs and Fenway Park is to Boston and the Red Sox,” Mariners chairman and managing partner John Stanton said in a statement. —Former All-Star outfielder Lenny Dykstra was arrested after allegedly threatening an Uber driver in Linden, N.J. Dykstra allegedly pulled out a gun, held it to the driver’s head and threatened to kill the man. Dykstra, 55, was charged with making terroristic threats and with multiple drug offenses. According to Linden police, Dykstra was in possession of cocaine, marijuana and ecstasy when taken into custody around 3:30 a.m. ET. Dykstra was a three-time All-Star for the Philadelphia Phillies during a 12-year playing career in which he was known for feisty and aggressive play. He finished second in National League MVP voting in 1993 when he went batted .305 and walked 129 times en route to scoring 143 runs. He played for the New York Mets for 4 1/2 seasons, beginning in 1985, until being traded to the Phillies. —Houston placed right fielder Josh Reddick on the 10-day disabled list prior to the Astros’ afternoon game against the San Francisco Giants. Reddick is dealing with an infection near his left knee. The Astros recalled outfielder Jake Marisnick from Triple-A Fresno. Reddick is batting .227 with six homers and 18 RBIs. Marisnick struggled with the Astros earlier this season as he batted just .141 with three homers and 41 strikeouts in 85 at-bats. —Cincinnati activated right-handed reliever Michael Lorenzen off the disabled list, only to see Raisel Iglesias (sore left biceps) and Austin Brice (back) go on the 10-day disabled list, each retroactive to May 20. Lorenzen rejoined the team for the first time this season after sustaining a muscle strain in his throwing shoulder during spring training. Right-hander Tanner Rainey was recalled from the Triple-A Louisville to complete the roster shuffle. Iglesias has a 2.08 ERA and eight saves in 20 outings this season, striking out 27 batters in 21 2/3 innings. Interim manager Jim Riggleman indicated he would be willing to use multiple relievers in save situations, including Lorenzen, who has a 4.57 ERA in 132 games (21 starts) in his three years in the majors. —The Tampa Bay Rays placed right-hander Jake Faria on the 10-day disabled list due to a strained left oblique. Faria, 3-3 with a 5.48 ERA this season, sustained the injury during his Tuesday start against the Boston Red Sox and is expected to miss at least six weeks, manager Kevin Cash told reporters. He departed with two outs in the third inning Tuesday night. Tampa Bay recalled journeyman left-hander Vidal Nuno from Triple-A Durham to fill the roster spot. Nuno has a 5-21 record in 138 career appearances (42 starts) over five previous major league seasons. He has a 4.29 ERA and 283 strikeouts in 344 innings. —The New York Yankees called up left-hander Ryan Bollinger from Double-A Trenton, the first major league stint for the 27-year-old, who is back in a major league organization this season for the first time since 2013. Bollinger played in Canada, Germany and Australia before catching the eyes of the Yankees and landing a minor league deal. He owns a tidy 0.90 ERA while winning all three of his starts at Trenton. He also made two starts at Triple-A Scranton/Wilkes-Barre earlier this season and went 0-1 with a 4.00 ERA. New York had a roster opening after sending right-hander Giovanny Gallegos to Scranton/Wilkes-Barre after a Tuesday game against the Texas Rangers. Gallegos pitched two scoreless innings on Tuesday and allowed two hits. —Field Level Media

Major League Baseball notebook: Cards' Ozuna benched for late arrival

Home / Business / China’s Xiaomi information for mega Hong Kong tech IPO, lifts lid on financials China’s Xiaomi information for mega Hong Kong tech IPO, lifts lid on financials 4 mins ago Business BEIJING/HONG KONG (Reuters) – Smartphone and linked gadget maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong preliminary public providing on Thursday that would increase $10 billion and turn into the most important itemizing by a Chinese expertise agency in virtually 4 years. FILE PHOTO: The brand of Xiaomi is seen inside the corporate’s workplace in Bengaluru, India January 18, 2018. Picture taken January 18, 2018. REUTERS/Abhishek N. Chinnappa/File photograph Xiaomi’s IPO, which can be one of many first in Hong Kong beneath new guidelines to draw tech agency listings, is a significant win for the bourse as competitors heats up between Hong Kong, New York and the Chinese mainland. The itemizing is predicted to lift about $10 billion through the general public providing, giving Beijing-based Xiaomi a market worth of between $80 billion and $100 billion, folks accustomed to the plans instructed Reuters. Those targets, if achieved, will make it the largest Chinese tech IPO since Chinese web large Alibaba Group Holding Ltd ( BABA.N ) raised $21.Eight billion in 2014. Xiaomi’s prospectus gave traders the primary detailed take a look at its monetary well being forward of the much-hyped IPO, which may very well be launched as quickly as end-June, in accordance with the folks near the method who requested anonymity as the small print weren’t but public. The numbers underscore how Xiaomi has remained resilient at the same time as the worldwide smartphone market has slowed, helped partially by a push abroad into markets like India. The firm stated its income was 114.62 billion yuan ($18 billion) in 2017, up 67.5 p.c towards 2016. Operating revenue for 2017 was 12.22 billion yuan, up from 3.79 billion yuan a yr in the past. It made a web lack of 43.89 billion yuan versus a revenue of 491.6 million yuan in 2016, although this was impacted by the truthful worth adjustments of convertible redeemable desire shares. A person walks previous a Xiaomi retailer in Shenyang, Liaoning province, China April 7, 2018. Picture taken April 7, 2018. REUTERS/Stringer Alongside smartphones, Xiaomi makes dozens of internet-connected dwelling home equipment and devices, together with scooters, air purifiers and rice cookers, though it derives most of its income from web providers. Its comparatively low-cost handsets pose a rising problem to market leaders Samsung Electronics Co Ltd ( 005930.KS ) and Apple Inc ( AAPL.O ). Xiaomi doubled its shipments in 2017 to turn into the world’s fourth-largest smartphone maker, in accordance with Counterpoint Research, defying a worldwide slowdown in smartphone gross sales. It can also be making a giant push exterior China’s borders, with 28 p.c of its gross sales derived from abroad markets final yr, up from 6.1 p.c in 2015. Yet margins on its smartphones are razor-thin. Xiaomi posted a gross revenue margin of simply 8.Eight p.c for its smartphone enterprise in 2017 in comparison with 60 p.c for its web providers enterprise. According to some analyst estimates, Apple’s flagship iPhone X and iPhone Eight have gross margins of round 60 p.c. The firm makes the lion’s share of its revenue – 60 p.c – from web providers, together with gaming and promoting linked to its homegrown person interface, MIUI, which had 190 million month-to-month lively customers as of March 2018. DUAL-CLASS SHARES Xiaomi’s itemizing plans come as the corporate and its traders look to capitalize on a bull run for the Hong Kong market, which has seen the benchmark Hang Seng Index rise about 27 p.c over the previous yr. Armed with the brand new guidelines permitting the itemizing of firms with dual-class constructions, Hong Kong is eyeing a number of tech listings which can be anticipated within the coming two years from Chinese corporations with a mixed market cap of $500 billion. Xiaomi stated in its IPO utility the corporate would have a weighted voting rights (WVR) construction, or dual-class shares. The WVR give higher energy to founding shareholders even with minority shareholding. The construction would permit the corporate to learn from the “continuing vision and leadership” of the dual-class share beneficiaries, who would management the corporate for its “long-term prospects and strategy”, it stated. Dual-class shares have been a contentious matter in Hong Kong because the metropolis’s strict adherence to a one-share-one-vote precept price it the float of Alibaba, which as an alternative listed in New York. Xiaomi can also be more likely to be among the many first Chinese tech corporations looking for a secondary itemizing in its dwelling market, utilizing the deliberate China depositary receipts route, two folks with information of the matter stated. CLSA, Morgan Stanley and Goldman Sachs Group Inc are sponsoring Xiaomi’s IPO. ($1 = 6.3610 Chinese yuan renminbi) Reporting by Cate Cadell in Beijing, Julie Zhu in Hong Kong and Rushil Dutta in Bengaluru; Writing by Sumeet Chatterjee; Editing Stephen Coates Share

China's Xiaomi information for mega Hong Kong tech IPO, lifts lid on financials

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Symantec Corp. (NASDAQ: SYMC) announced that it will host a conference call today at 4:30 p.m. ET / 1:30 p.m. PT to provide more information on the previously announced internal investigation by the Audit Committee of the Company’s Board of Directors and further detail on the Company’s financial results and outlook. Following prepared remarks, Greg Clark, Symantec CEO, and Nick Noviello, Symantec CFO, will answer questions from the financial community regarding the Company’s financial results and outlook. Interested parties may access the conference call by dialing (877) 475-6198 within the United States or (970) 297-2372 from outside the United States and using conference ID 8667308. A live audio webcast of the conference call will also be available through Symantec’s Investor Relations website at http://investor.symantec.com/investor-relations/events-calendar/ . A replay will be available on the investor relations home page shortly after the call is completed. About Symantec Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton suite of products for protection at home and across all of their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats. For additional information, please visit www.symantec.com or connect with us on Facebook , Twitter , and LinkedIn . View source version on businesswire.com : https://www.businesswire.com/news/home/20180514005456/en/ Symantec Corp. MEDIA CONTACT: Mara Mort, 650-527-7455 Mara_Mort@symantec.com or INVESTOR CONTACT: Cynthia Hiponia, 650-527-8020 Cynthia_Hiponia@symantec.com Source: Symantec Corporation

Symantec to Host Investor Briefing Call

May 21 (Reuters) - International Game Technology PLC : * INTERNATIONAL GAME TECHNOLOGY PLC FILES FOR POTENTIAL MIXED SHELF OFFERING; SIZE NOT DISCLOSED - SEC FILING Source text: ( bit.ly/2x0BloM ) Further company coverage:

International Game Tec Files For Potential Mixed Shelf Offering

A Louisiana judge has found that the state Department of Natural Resources violated state environmental guidelines when it approved a permit for a portion of the controversial Bayou Bridge Pipeline crossing coastal wetlands. In a decision made public on Monday, Judge Alvin Turner at the state’s 23rd Judicial District Court in Gonzales told the Department of Natural Resources (DNR) to reconsider the permit and to require Bayou Bridge to develop effective environmental protection and emergency plans in the event of a spill. To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2IrRKac

Louisiana judge hands win to opponents of Bayou Bridge Pipeline

May 15 (Reuters) - Aileron Therapeutics Inc: * AILERON THERAPEUTICS ANNOUNCES CHANGES TO MANAGEMENT * AILERON THERAPEUTICS INC - JOHN P. LONGENECKER HAS BEEN NAMED INTERIM CHIEF EXECUTIVE OFFICER * AILERON THERAPEUTICS INC - JOSEPH A. YANCHIK III HAS RESIGNED AS PRESIDENT AND CHIEF EXECUTIVE OFFICER AND AS A MEMBER OF CO’S BOARD Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.

BRIEF-Aileron Therapeutics Names John Longenecker As Interim CEO

May 22, 2018 / 4:51 AM / Updated 2 hours ago China to Australia: Remove "coloured glasses" to get ties back on track Reuters Staff 3 Min Read BEIJING/SYDNEY (Reuters) - Australia should remove its “coloured glasses” to get relations back on track with major trading partner China, the Chinese government’s top diplomat Wang Yi has told his Australian counterpart on the sidelines of a G20 meeting in Argentina. Relations between the two countries have cooled since late 2017 when Prime Minister Malcolm Turnbull’s government proposed a bill to limit foreign influence in Australia, including political donations. Beijing saw the move as “anti-China”. The diplomatic rift spilled into the trade arena last week when a major Australian wine maker said it was facing new Chinese customs delays, raising fears among other Australian exporters that depend on access to China. Wang told Australian Foreign Minister Julie Bishop on Monday some difficulties had affected contact and cooperation between the two countries, China’s Foreign Ministry said in a statement on its website on Tuesday. The pair met on the sidelines of the G20 Foreign Ministers’ Meeting in Buenos Aires. “What I want to emphasise is, if the Australian side wishes the bilateral relationship to return to the right track and realise sustained healthy development, then it must abandon traditional thinking and take off its coloured glasses,” Wang was quoted as saying in the statement. Wang said he had noted an improvement in tone from Bishop and the Australian government. In an interview with the Australian Broadcasting Corp. on Tuesday, Bishop said she had a “very warm and candid and constructive discussion” with Wang. “While we stand up for our values and our interests and our policies and we can disagree with friends from time-to-time, most certainly the relationship is strong and we discussed ways on how we could cooperate further,” she said. A visit to Shanghai last week by Australian Trade Minister Steven Ciobo was seen as a bid to mend a relationship that included A$170 billion ($128 billion)in two-way trade last year. But Ciobo’s visit was overshadowed by delays at Chinese customs that held up exports by Australia’s Treasury Wine Estates Ltd. An Australian source familiar with the meeting between Bishop and Wang said it had focused on regional security and trade, and the Treasury Wine issue was not specifically discussed. Several unidentified Australian business owners who operate in China told Fairfax Media on the weekend that Chinese authorities had been unfairly targeting Australian products with delays and extra scrutiny at customs and distribution. Turnbull, who in December cited “disturbing reports about Chinese influence” and promised to stand up to Beijing, will travel to China later this year to smooth over bumpy diplomatic ties, Fairfax Media reported. Wang, who is a state councillor as well as China’s foreign minister, said on Monday China “never interferes with the internal politics of other countries, let alone carry out the so-called infiltration of other countries”. ($1 = 1.3201 Australian dollars)

China to Australia: Remove "coloured glasses" to get ties back on track

May 3 (Reuters) - DERAYAH REIT FUND: * FUND MANAGER EXPECTS THAT DIVIDEND DISTRIBUTION FOR Q2 2018 WILL BE 1.81 PERCENT RELATIVE TO IPO PRICE Source text for Eikon: Our

Derayah REIT Fund Expects Q2 Dividend OF 1.81 Pct Relative To IPO Price

Cisco Systems Inc. can’t seem to decide how upset it is with YouTube. The networking-gear giant Wednesday attacked the video service, a part of Alphabet Inc.’s Google, over concerns about its advertisements appearing alongside unsavory content. In a blog post, Cisco’s chief marketing officer said the company was pulling its ads from YouTube “until the platform has met our standards.” That...

Cisco Scrubs Blog Post About YouTube Ads as It Figures Out Messaging

Conference call to be held May 30, 2018 at 4:30 p.m. Eastern time NEW YORK--(BUSINESS WIRE)-- PAVmed Inc. (Nasdaq: PAVM, PAVMZ ) (the “Company” or “PAVmed”), a highly differentiated, multiproduct medical device company, today reports financial results for the three months ended March 31, 2018 and provides a business update. Management Commentary “During the first quarter of 2018 and in recent weeks, PAVmed has added the groundbreaking EsoCheck technology to its lead product portfolio, continued to advance its other lead products, CarpX™, PortIO™, and DisappEAR™, toward important regulatory and commercial milestones and took concrete steps to strengthen its financial position and streamline its capital structure,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer. “We look forward to achieving several important regulatory and development milestones during the upcoming weeks and months. “CarpX, our minimally invasive device to treat carpal tunnel syndrome, remains our most important lead product and near-term commercial opportunity. Since receiving the U.S. Food and Drug Administration’s (FDA) initial response to our 510(k) submission earlier this year, we have been working closely with the agency to satisfy their request for additional non-clinical data to support our submission. We have completed the requested animal study documenting that the device’s bipolar electrode design results in minimal spread of thermal energy. The requested additional physician usability testing in cadavers will be completed this week. We remain on target to file our resubmission incorporating these data to the agency by the end of this month and look forward to an expeditious review and final positive response from the FDA soon thereafter. “As a result of intense international interest in this product, we have decided to accelerate our CarpX activities outside the United States. We have targeted next month to have a leading hand surgeon in New Zealand perform a first-in-man clinical series using CarpX. In addition, we have identified an EU notified body and are taking the additional requisite steps to submit our application for CE mark in Europe, targeted for the late third quarter of this year. Finally, we have received multiple inquiries from entities in Europe, Asia and South America seeking to commercially partner with us on CarpX in their regions and have initiated dialogues to explore possible partnerships. We continue to believe that CarpX represents a significant global commercial opportunity exceeding $1 billion and look forward to achieving these many catalysts in the coming quarters. “Our newest lead product, EsoCheck, a revolutionary technology that we believe will save many lives through the early detection of pre-cancerous conditions of the esophagus, has immediately joined CarpX as one of our most important products in terms of near-term commercial opportunity and potential blockbuster status,” Dr. Aklog continued. “Newly-formed PAVmed subsidiary Lucid Diagnostics Inc. recently entered into a definitive licensing agreement with Case Western Reserve University to commercialize and develop EsoCheck. The fact that PAVmed was selected to be the exclusive commercial partner over much larger medical device and diagnostic companies is a testament to our business model and the team’s commercialization track record. Pursuant to the definitive licensing agreement, Lucid Diagnostics Inc. now holds an exclusive worldwide license of the intellectual property rights for the EsoCheck cell sampling device and DNA biomarker test and all improvements. The licensed portfolio includes additional biomarkers under a broad field of use. PAVmed retains an 82% equity stake in Lucid and three of its four board seats are held by PAVmed designees. “EsoCheck is a five-minute office-based alternative to diagnostic endoscopy that combines a non-invasive targeted cell sampling device with a DNA biomarker test. Together these have been shown to be highly accurate in detecting Barrett’s Esophagus, the primary precursor to the most common and lethal form of esophageal cancer caused by Gastroesophageal Reflux Disease (GERD), commonly known as heart burn or acid reflux. Barrett’s Esophagus can be successfully treated, usually with non-surgical approaches, if detected before cancer develops. However, endoscopy, the standard diagnostic test, is neither practical nor cost effective as a widespread screening tool. We believe widespread EsoCheck screening has the potential to have as great an impact on esophageal cancer as widespread Pap screening has had in preventing cervical cancer. Such widespread screening will eventually target the estimated 50 million Americans, with and without heartburn, who are at risk, representing an estimated immediately addressable domestic market of several billion dollars. “There are several reasons we believe EsoCheck represents an extremely valuable addition to PAVmed’s portfolio. The existing human clinical data, published in a landmark Science Translational Medicine paper, is very powerful, showing that the EsoCheck cell-sampling device and DNA biomarker test is highly accurate in detecting Barrett’s Esophagus. The clinical evidence will grow substantially as a result of a large multicenter National Institutes of Health (NIH) study of EsoCheck which is actively enrolling patients at Case Western Reserve University Hospital, along with other leading academic medical centers including the Cleveland Clinic, Johns Hopkins, Mayo Clinic, Washington University St. Louis and the University of North Carolina. Finally, the EsoCheck device is already being manufactured for human use in clinical trials and the EsoCheck DNA biomarker test is already being performed at a reference laboratory, which expects to receive CLIA certification later this year. As such, we will be able to aggressively pursue EsoCheck commercialization by seeking U.S. Food and Drug Administration (FDA) 510(k) clearance of the cell sampling device and a Laboratory Developed Test designation of the DNA biomarker test. We are targeting the first quarter of 2019 for the launch of the first commercial product in the U.S. “With respect to our third lead product PortIO™, our implantable intraosseous vascular access device, we are pursuing FDA clearance for a seven-day implant indication through the de novo pathway and are following detailed guidance from the agency received during a pre-submission review meeting earlier this year. We completed a successful pilot animal study that showed excellent device function over the seven-day implant period and complete healing upon explant. We have submitted the protocol for the definitive animal study based on this pilot study and expect to receive the agency’s feedback and initiate the definitive animal study in the coming weeks. In anticipation of having to follow-up the animal study with a human clinical safety trial, we accelerated our strategic partnership efforts to include support of the expected clinical study as part of a broader distribution, licensing or acquisition agreement. We are preparing an IDE application in anticipation of a formal request for this small clinical study and plan to use an improved second-generation device. We are also pursuing a first-in-man human clinical series in New Zealand and European CE Mark submission along the same timeline as CarpX. “With respect to our final lead product DisappEAR™, our resorbable, antimicrobial pediatric ear tube, we have recently identified a corporate partner who will provide us with commercially applicable silk monoblocks from which to manufacture the ear tube. This important step will significantly shorten the development timeline for this product since sourcing commercial silk has been the major obstacle to date. We are now able to proceed with optimizing the manufacturing process for the ear tubes and initiate a small animal study to document resorption rates. We are targeting 510(k) submission before the end of this calendar year.” Dr. Aklog concluded, “Finally, during the first quarter of 2018, we took important steps to streamline our capital structure by consolidating several classes of preferred securities, eliminating burdensome anti-dilution provisions and decreasing our warrant overhang through a successful tender offer whereby more than 96% of the warrants issued in our IPO were exchanged for half as many six-year Series Z Warrants which now trade on Nasdaq under the ticker symbol PAVMZ. Also, during the first quarter and in recent weeks we have been raising capital to strengthen our balance sheet and extend our cash runway. We raised approximately $4.3 million in net proceeds from an underwritten shelf offering of common stock, providing us with adequate capital into the first quarter of 2019. We also took the necessary steps to initiate a rights offering which we expect to launch this week. Pursuant to the rights offering, holders of common stock as of yesterday, the record date, will be granted one right to purchase a new unit consisting of a share of common stock and a Series Z Warrant for $2.25. In anticipation of the rights offering, we lowered the exercise price of these warrants to $1.60. Anticipated proceeds from the exercise of these rights will be used to extend our working capital runway, accelerate the commercialization of CarpX once cleared and potentially retire debt.” Financial Results For the three months ended March 31, 2018, research and development expenses were $562,535 and general and administrative expenses were $1,381,167. GAAP net loss attributable to common stockholders was $3,414,700, or $(0.21) per common share. As illustrated below and for the purpose of helping the reader understand the effect of derivative accounting for non-cash income and expenses on the Company’s financial results, the Company reported a non-GAAP adjusted loss for the three months ended March 31, 2018 of $1,670,613, or $(0.10) per common share. PAVmed had cash and cash equivalents of $3,630,692 as of March 31, 2018, compared with $1,535,022 as of December 31, 2017. In January 2018, the Company completed a public offering of common stock for net proceeds of approximately $4.3 million. The unaudited financial results for the three months ended March 31, 2018 as reported to the SEC on Form 10-Q can be obtained at www.pavmed.com or www.sec.gov . Non-GAAP Measures To supplement our unaudited financial results presented in accordance with U.S. generally accepted accounting principles (GAAP) in our Quarterly Report on Form 10-Q, management provides certain non-GAAP financial measures of the Company's financial results. These non-GAAP financial measures include net loss before interest, taxes, depreciation and amortization (EBITDA) and non-GAAP adjusted loss, which further adjusts EBITDA for stock-based compensation expense, loss on the issuance of the Series A Preferred Stock Units, the change in fair value of the Series A Warrant liability and the change in fair value of the Series A Convertible Preferred Stock conversion option embedded derivative liability. The foregoing non-GAAP financial measures of EBITDA and non-GAAP adjusted loss are not recognized terms under U.S. GAAP. Non-GAAP financial measures are presented with the intent of providing greater transparency to information used by us in our financial performance analysis and operational decision-making. We believe these non-GAAP financial measures provide meaningful information to assist investors, shareholders and other readers of our unaudited financial statements in making comparisons to our historical financial results and analyzing the underlying performance of our results of operations. These non-GAAP financial measures are not intended to be, and should not be, a substitute for, considered superior to, considered separately from or as an alternative to, the most directly comparable GAAP financial measures. Non-GAAP financial measures are provided to enhance readers’ overall understanding of our current financial results and to provide further information for comparative purposes. Management believes the non-GAAP financial measures provide useful information to management and investors by isolating certain expenses, gains and losses that may not be indicative of our core operating results and business outlook. Specifically, the non-GAAP financial measures include non-GAAP adjusted loss and its presentation is intended to help the reader understand the effect of the loss on the issuance of the Series A Preferred Stock Units and the corresponding derivative accounting for non-cash charges on financial performance. In addition, management believes non-GAAP financial measures enhance the comparability of results against prior periods. A reconciliation to the most directly comparable GAAP measure of all non-GAAP financial measures included in this press release for the three months ended March 31, 2018 and 2017 is as follows: Three Months Ended March 31, 2018 2017 Net income (loss) per common share, basic and diluted $ (0.21) $ (0.32) Net loss attributable to common stockholders (3,414,700) (4,296,528) Preferred Stock dividends and deemed dividends 788,572 26,440 Series B Preferred stock issued upon exchange of Series A and Series A-1 Preferred stock (199,241) - Net loss as reported (2,825,369) (4,270,088) Adjustments: Depreciation expense 1 1,803 1,702 Interest expense, net 500,304 - Income tax (benefit) expense - - EBITDA (2,323,262) (4,268,386) Other non-cash expenses: Stock-based compensation expense 2 271,286 272,680 Loss from issuance of Preferred Stock - 3,124,285 Change in fair value of Series A Warrant Liabiity 3 96,480 (786,397) Change in fair value of Series A Preferred Stock conversion option embedded derivative liabiity 3 (64,913) (224,065) Modification of Series A and A-1 warrant agreement for Z warrants 3 349,796 - Non-GAAP adjusted (loss) (1,670,613) (1,881,883) Basic and Diluted shares outstanding at December 31 16,544,221 13,330,891 Non-GAAP adjusted (loss) income per share ($0.10) ($0.14) 1 Included in general and administrative expenses in the financial statements 2 For the three months ended March 31, 2018 includes $238,029 of stock based compensation expense reported as general and administrative expenses and $33,257 reported as research and development expense. For the three months ended March 31, 2017 includes $242,451 of stock based compensation expense reported as general and administrative expenses and $30,228 reported as research and development expense. 3 Included in other income and expenses Conference Call and Webcast The Company will hold a conference call and webcast on May 30, 2018 beginning at 4:30 p.m. Eastern time. During the call, Dr. Aklog will provide a business update including an overview of the Company’s near-term milestones and growth strategy. In addition, Dennis McGrath, the Company’s Chief Financial Officer, will discuss first quarter 2018 financial results. To access the conference call, U.S.-based listeners should dial (888) 803-5993 and international listeners should dial (706) 634-5454. All listeners should provide the operator with the following passcode: 9098516. Individuals interested in listening to the live conference call via the internet may do so by visiting the Company’s website at www.pavmed.com . Following the conclusion of the conference call, a replay will be available through June 6, 2018 and can be accessed by dialing (855) 859-2056 from within the U.S. or (404) 537-3406 from outside the U.S. To access the replay, all listeners should provide the following passcode: 9098516. The webcast will be available for a period of time on the Company’s website at www.pavmed.com . About PAVmed PAVmed Inc. is a highly differentiated, multiproduct medical device company employing a unique business model designed to advance innovative products to commercialization much more rapidly and with significantly less capital than the typical medical device company. This proprietary model enables PAVmed to pursue an expanding pipeline strategy with a view to enhancing and accelerating value creation. PAVmed’s diversified pipeline of products address unmet clinical needs encompassing a broad spectrum of clinical areas with attractive regulatory pathways and market opportunities. Its three lead products provide groundbreaking approaches to carpal tunnel syndrome (CarpX™), precancerous conditions of the esophagus (EsoCheck), vascular access (PortIO™) and pediatric ear infections (DisappEAR™). The company is also developing innovative products in other areas, such as medical infusions and tissue ablation, while seeking to further expand its pipeline through engagements with clinician innovators and leading academic medical centers. For further information, please visit www.pavmed.com . Forward-Looking Statements This press release includes that involve . Forward-looking statements are statements that are not historical facts. Such , based upon the current beliefs and expectations of PAVmed’s management, are subject to , which could cause actual results to differ from the . Risks and uncertainties that may cause such differences include, among other things, factors affecting the timing and effectiveness of the registration statement for our proposed rights offering; volatility in the price of PAVmed’s common stock, Series W Warrants and Series Z Warrants; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required advance PAVmed’s products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed’s preclinical studies; whether and when PAVmed’s products are cleared by regulatory authorities; market acceptance of PAVmed’s products once cleared and commercialized; our ability to raise additional funding and other competitive developments. PAVmed has not yet received clearance from the FDA or other regulatory body to market any of its products. New may arise from time to time and are difficult to predict. All of these factors are difficult or impossible to predict accurately and many of them are beyond PAVmed’s control. For a further list and description of these and other important that may affect PAVmed’s future operations, see Part I, Item IA, “Risk Factors,” in PAVmed’s most recent Annual Report on Form 10-K filed Commission, as the same may be updated in Part II, Item 1A, “Risk Factors” in any Quarterly Reports on Form 10-Q filed by PAVmed after its most recent Annual Report. PAVmed disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the . View source version on businesswire.com : https://www.businesswire.com/news/home/20180522005507/en/ Investors LHA Investor Relations Kim Sutton Golodetz, 212-838-3777 kgolodetz@lhai.com or Media PAVmed Inc. 212-949-4319 info@pavmed.com Source: PAVmed Inc.

PAVmed Reports First Quarter 2018 Financial Results

May 24, 2018 / 1:53 PM / Updated 8 minutes ago Krstajic injects youth into Serbia's World Cup squad Zoran Milosavljevic 3 Min Read BELGRADE (Reuters) - Serbia coach Mladen Krstajic named several uncapped prospects in his provisional 27-man World Cup squad on Thursday at the expense of stalwarts who failed to impress in friendlies after they qualified for the 32-nation tournament. Serbia head coach Mladen Krstajic speaks during a news conference in Belgrade, Serbia, May 24, 2018. REUTERS/Marko Djurica Defenders Nikola Milenkovic and Milan Rodic have been preferred to full backs Dusan Basta and Ivan Obradovic, while 20-year-old striker Luka Jovic earned his spot after an impressive season at German Cup winners Eintracht Frankfurt on loan from Benfica. Red Star Belgrade’s 22-year-old winger Nemanja Radonjic, who made his debut in a friendly against South Korea in November, is one of three home-based players alongside Rodic and first-choice goalkeeper Vladimir Stojkovic. Center back Matija Nastasic is also in contention despite facing a race against time to recover from a long-term knee injury for the June 14-July 15 tournament in Russia. “Nastasic is a key defender and we are hopeful that he will be fit,” Krstajic told a news conference. “He will have a medical on Saturday and after that we will know whether he can make the final cut or not. “There are no sour grapes as personal egos have taken a back seat in order to put together the best squad and I am confident this group of players can make an impact in Russia.” The Serbians, who qualified for their first major tournament since the 2010 World Cup, will play warm-up matches in the Austrian city of Graz against Chile on June 4 and Bolivia five days later. They start their World Cup Group E campaign against Costa Rica in Samara on June 17 followed by games against Switzerland in Kaliningrad on June 22 and Brazil in Moscow on June 27. Squad: Goalkeepers: Vladimir Stojkovic (Partizan Belgrade), Predrag Rajkovic (Maccabi Tel Aviv), Marko Dmitrovic (Eibar), Aleksandar Jovanovic (Aarhus). Defenders: Aleksandar Kolarov (AS Roma), Branislav Ivanovic (Zenit St. Petersburg), Dusko Tosic (Guangzhou R&F), Antonio Rukavina (Villarreal), Milos Veljkovic (Werder Bremen), Milan Rodic (Red Star Belgrade), Uros Spajic (Krasnodar), Matija Nastasic (Schalke 04), Nikola Milenkovic (Fiorentina). Midfielders: Nemanja Matic (Manchester United), Luka Milivojevic (Crystal Palace), Sergej Milinkovic-Savic (Lazio), Marko Grujic (Liverpool), Adem Ljajic (Torino), Dusan Tadic (Southampton), Mijat Gacinovic (Eintracht Frankfurt), Filip Kostic (Hamburg SV), Andrija Zivkovic (Benfica), Nemanja Radonjic (Red Star Belgrade), Nemanja Maksimovic (Valencia). Strikers: Aleksandar Mitrovic (Newcastle United), Aleksandar Prijovic (PAOK Salonika), Luka Jovic (Benfica). Writing by Zoran Milosavljevic; Editing by Christian Radnedge

Krstajic injects youth into Serbia's World Cup squad

Gerrit Cole pitched his third straight overpowering game, while teammates Max Stassi and Derek Fisher stunned Daniel Mengden with back-to-back, two-strike home runs with two outs in the seventh inning Wednesday afternoon, sending the Houston Astros to a 4-1 win over the Oakland Athletics and a sweep of their three-game series in Oakland, Calif. Cole (4-1), a California native who never previously pitched in Oakland, struck out nine in six innings to run his total to 37 in his last three starts covering 21 2/3 innings. He allowed one run, which put the Astros in a 1-0 hole in the bottom of the sixth. A one-out single by Matt Joyce and RBI double by Jed Lowrie provided the game’s first scoring. But the Astros, who completed a 4-2 trip, bounced right back against Mengden, who had shut out Houston on four hits through 6 2/3 innings. One strike from completing a seventh shutout inning, Mengden served up a game-tying home run to Stassi, followed four pitches later with a go-ahead solo shot to Fisher, watching the Astros take a lead they never relinquished. Stassi’s homer was his third of the season. Fisher hit his fourth. Cole was relieved by Joe Smith to start the bottom of the seventh. He allowed four hits and three walks in his six innings. Cole had struck out 12 in a no-decision against the A’s in Houston on April 29. He then one-hit the Los Angeles Angels, striking out 16, in his last start. The Astros increased their lead against the Oakland bullpen in the eighth when Yuli Gurriel doubled home George Springer and Jose Altuve, both of whom had singled. Mengden (2-4) was pulled immediately following Fisher’s homer in the seventh, having allowed two runs and six hits in 6 2/3 innings. He struck out four and did not walk a batter. The loss was his 11th in 12 decisions in his career in Oakland. Astros relievers Smith, Will Harris and Ken Giles retired all nine batters they faced in relief of Cole. Giles was credited with his fifth save after a 1-2-3 ninth. Houston pitchers allowed three or fewer runs for the fourth straight game. Altuve went 3-for-4 to raise his batting average to .331. The A’s were out-hit 10-4, with one of the Oakland hits being a double by Stephen Piscotty, who recorded a hit for the second straight game following the death of his mother on Sunday. The A’s, who were held to two or fewer runs for the fifth straight game, split a six-game homestand after having swept three from the Baltimore Orioles. —Field Level Media

Cole sharp again as Astros top A's

May 30, 2018 / 7:22 PM / Updated 12 minutes ago Mexico cenbank says banks may still be vulnerable to cyber attacks Reuters Staff 1 Min Read MEXICO CITY (Reuters) - Bank of Mexico Governor Alejandro Diaz de Leon on Wednesday said no further cyber attacks on banks had been seen since May 8, but that investigators would need to finish their probe to assure banks’ vulnerabilities have been addressed. Mexico's central Bank Governor Alejandro Diaz de Leon Carrillo speaks during an interview with Reuters on the sidelines of the Mexican Banking Association's annual convention in Acapulco, Mexico March 9, 2018. REUTERS/Henry Romero Earlier this month, the central bank said a cyber attack had sucked around 300 million Mexican pesos ($15.2 million) in fraudulent transfers from five companies. Diaz de Leon said there had been around 800 suspect transactions in amounts from 30,000 pesos to more than 500,000 pesos. Reporting by Sharay Angulo

Mexico cenbank says banks may still be vulnerable to cyber attacks

ATHENS, Greece, May 17, 2018 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (NASDAQ:DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2009-built vessel “Hamburg”, with delivery to the buyer latest by July 31, 2018, for a sale price of US$21.0 million before commissions. Net proceeds from the sale of the vessel are expected to be used by the Company to prepay part of the existing indebtedness. Upon completion of the aforementioned sale, Diana Containerships Inc.’s fleet will consist of 5 container vessels (3 Post-Panamax and 2 Panamax). A table describing the current Diana Containerships Inc. fleet can be found on the Company’s website, www.dcontainerships.com . Information included on the Company’s website does not constitute a part of this press release. About the Company Diana Containerships Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes. Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for containership capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. Corporate Contact: Ioannis Zafirakis Director, Chief Operating Officer and Secretary Telephone: +30-216-600-2400 Email: izafirakis@dcontainerships.com Website: www.dcontainerships.com Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email: enebb@optonline.net Source:Diana Containerships Inc.

Diana Containerships Inc. Announces the Sale of a Post-Panamax Container Vessel, the m/v Hamburg

BEIJING (Reuters) - A Chinese drone company has broken the Guinness World Record for most drones flown simultaneously in a 13-minute flight that involved 1,374 drones spread over a kilometer. Chinese UAV firm EHang Egret clinched the record by 156 drones from U.S. technology firm Intel, which flew 1,218 drones in formation during the Winter Olympics in South Korea in February. During a night performance on Sunday in the Chinese tourist city of Xian, the drones took on 16 different 3D formations, including a camel, a Buddha and a high-speed train, said EHang in a release. China has championed rapid development in its tech sector in a bid to build world-leading firms and reduce dependence on foreign products, including semiconductors, robots and drones. As part of the performance the drone formation spelt out a popular political slogan and paid tribute to President Xi Jinping’s cornerstone foreign policy initiative, One Belt One Road. In August, another Chinese firm, WL Intelligent Technology Co Ltd, broke the record for most robots dancing simultaneously, involving 1,069 bi-pedal toy robots. The record has since been beaten by an Italian firm that performed the same feat with 1,372 robots. EHang first made headlines in 2016 when it unveiled a passenger drone concept which it said would retail at up to $300,000. Earlier this year, the company said it had completed tests for the vehicle which is capable of carrying one person at speeds of up to 130 kph. The firm specializes in aerial landscaping, but in consumer drones it is dwarfed by fellow Chinese drone firm SZ DJI Technology Co Ltd, which is the world’s largest maker of non-military drones. Reporting by Cate Cadell; Editing by Nick Macfie

Flight of imagination: Chinese firm breaks record with 1,374 dancing drones

May 9 (Reuters) - Sabra Health Care REIT Inc: * Q1 ADJUSTED FFO PER SHARE $0.59 * SABRA REPORTS FIRST QUARTER 2018 RESULTS; UPDATES 2018 GUIDANCE * Q1 FFO PER SHARE VIEW $0.62 — THOMSON REUTERS I/B/E/S * SEES 2018 FFO PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS $2.48 - $2.56 * SEES 2018 NORMALIZED FFO PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS $2.47 - $2.55 * SEES 2018 AFFO EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS $2.28 - $2.36 * SEES 2018 NORMALIZED AFFO EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS $2.27 - $2.35 * FY2018 FFO PER SHARE VIEW $2.49 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

BRIEF-Sabra Health Care REIT Posts Q1 Adjusted FFO per share $0.59

May 29, 2018 / 11:37 AM / Updated 10 hours ago Commentary: If ECB really does 'whatever it takes', it will be enough Jamie McGeever 6 Min Read LONDON (Reuters) - Euro zone markets are gyrating like it’s 2012, with political crisis in Italy blowing out peripheral yield spreads and triggering the strongest demand for safe-haven German bonds since the depths of the euro crisis six years ago. European Central Bank (ECB) President Mario Draghi holds a news conference following the governing council's interest rate decision at the ECB headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach But at the risk of uttering the dreaded words, this time it’s different - it’s almost impossible to believe that the ECB will stand by and allow domestic political crisis in Italy to descend into an existential crisis for the euro zone. “Whatever it takes”, to quote ECB chief Mario Draghi’s famous commitment from 2012, will avert “Quitaly”, if push comes to the shove. Still, the rise in Italian yields and spreads under way now is astonishing. The 10-year Italian/German yield spread rose above 300 basis points on Tuesday, meaning it has more than doubled in just two weeks. Italy’s two-year yield rose above 2 percent on Tuesday, significantly higher than the two-year Greek yield, and well on track for its biggest one-day rise since 1992. (For a graphic showing Italian 2-year yield - daily change, click here: reut.rs/2L3knIt ) This is causing serious pain for Italian banks, which are among the biggest holders of these bonds. Their balance sheets and ability to raise financing on money and bond markets are getting hammered, which will be ringing alarm bells at the ECB. The wave of selling on Tuesday also strongly suggests financial markets are now pricing a euro break-up premium into Italian bonds and bank stocks, and even the euro. This is anathema to the European Central Bank and will prompt it to act. The risk of a euro break-up forced the ECB’s hand six years ago. The difference today is not that investors doubt the ECB stands ready to help Italy, but that Italy wants that help at all. Italy itself may choose ‘Quitaly’, which is a different proposition for the ECB and euro policymakers entirely. If the ECB is forced to act it could expand and tweak its current bond-buying programme, provide emergency funding for Italian banks, or dust off and deploy the Outright Monetary Transactions programme if Italy is forced to take financial support from the euro zone bailout fund. It could employ a mix of all of the above or come up with entirely new measures. The 2011-12 debt crisis showed that the ECB is flexible, creative, and willing to bend or suspend its rules. The list of acronyms for its unconventional policy measures and programmes is lengthy, including: OMT, LTRO, SMP, APP, CSPP and CBPP. This was a hill on which two high profile German policymakers at the ECB were willing to sacrifice themselves. Successive Bundesbank chiefs Axel Weber and Jurgen Stark both argued in protest at the direction the ECB was headed but ultimately lost those arguments and quit instead. “WHATEVER IT TAKES” The euro zone’s last existential crisis prompted Draghi to deliver his now famous remarks in London on July 26, 2012 that the ECB would do “whatever it takes to preserve the euro. And believe me, it will be enough.” Back then Italy’s 10-year bonds yielded 540 basis points more than German bonds, Spain’s more than 600, Portugal’s almost 1,000 and Greece’s almost 3,000. Speculation was rife that any one of these countries was about to crash out of the euro, bringing the whole currency union down with it. Then Draghi stepped in. And whatever else has happened since - in terms of euro zone politics, banks, financial markets, the economy, and monetary and fiscal policy - it’s unarguable that the euro was saved. The ECB went all in with unconventional policy which included negative interest rates, a sovereign bond-buying programme running into the trillions, and cheap loans worth hundreds of billions to the 19-nation bloc’s banks. Italian banks were among the main beneficiaries. Six years on, the ECB is looking at exiting these crisis-era policies as smoothly as possible with minimum market disruption. It’s a process that isn’t scheduled to start until later this year at the earliest, and would take years to complete anyway. But the current standoff in Italy will almost certainly put that on hold, maybe for a very long time. It could also push the ECB to take more, yet to be determined emergency measures. Italy is set for fresh elections after the president appointed a former IMF official as interim prime minister once anti-establishment forces had abandoned their efforts to form a coalition government at the weekend. These elections are likely to be fought over Italy’s role and very place in Europe and the euro zone. Investors are dumping Italian assets and the euro on fears that the third largest euro zone economy and third largest bond market in the world, could crash out of the euro. Visibility on what happens next, in terms of the makeup of Italy’s next government, elections, and what credit ratings agencies, the ECB and euro zone leaders do, is low. Investors are choosing to dump Italian assets now and ask questions later. Ultimately, however, it will boil down to whether they believe Italy is bankrupt, will default, leave the euro, or that the ECB will allow the euro project to fall apart. Of course, anything can happen. But the answer to those questions, right now at least, has to be “no”. The opinions expressed are those of the author, a columnist for Reuters. Reporting by Jamie McGeever; Editing by Richard Balmforth

Commentary: If ECB really does 'whatever it takes', it will be enough

* Singapore Exchange to launch new derivatives products in June * Says Indian exchange moves court for interim injunction * Indian bourses stopping licensing indexes to overseas bourses * Analysts worried about potential loss of business at SGX (Adds comment from SGX, additional context) SINGAPORE, May 22 (Reuters) - Singapore Exchange Ltd (SGX) said it plans to list new India-related equity derivative products in June despite the National Stock Exchange of India (NSE) applying for an interim injunction in a Mumbai court against their launch. NSE’s legal move and SGX’s response intensify the spat between the two exchanges after India’s three main bourses unexpectedly announced in February they would stop licensing their indexes to foreign bourses from August. SGX had responded by saying it would launch successor products to its flagship Indian equity derivative products in June. SGX’s shares fell 1.8 percent in late morning trade on Tuesday. “Our new India equity derivative products are essential to enable institutional investors to maintain their current portfolio risk exposure to the Indian capital markets,” Michael Syn, head of derivatives at SGX, said in a statement. SGX said it had full confidence in its legal position. There was no immediate response from the NSE to Reuters queries sent outside normal office hours. India’s NSE, BSE Ltd and Metropolitan Stock Exchange took the steps to end licencing deals with foreign bourses to prevent the loss of trades to overseas rivals after SGX introduced trading in single-stock futures contracts. The Indian bourses’ decision was fully endorsed by the government. The step was also aimed at boosting interest in the international financial centre being developed in Prime Minister Narendra Modi’s home state of Gujarat, called Gujarat International Finance Tec-City, or GIFT City, sources have said. Over the past two decades, SGX has become the most popular way for foreign investors to bet on Indian equity indexes, with Nifty futures tracking NSE’s main index. Worried by the potential decline in business, analysts have cut SGX’s earnings estimates for the next few years. (Reporting by Anshuman Daga; Editing by Edwina Gibbs and Muralikumar Anantharaman)

UPDATE 1-SGX to launch Indian derivatives despite legal move by Indian bourse

May 2 (Reuters) - Gapwaves AB: * Q1 NET SALES SEK 0.6 MILLION VERSUS SEK 0 MILLION YEAR AGO * Q1 OPERATING LOSS SEK 10.4 MILLION VERSUS LOSS SEK 3.5 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdynia Newsroom)

BRIEF-Gapwaves Q1 Operating Loss Widens To SEK 10.4 Million

TOKYO (Reuters) - The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week. FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo The dollar index versus a basket of six major peers stood at 93.270 after rallying to 93.457 overnight, its highest since Dec. 22. It was still 0.05 percent higher than Tuesday. The dollar has gained since mid-April as easing tensions in the Korean Peninsula and moves by China and the United States to avoid a full-blown trade war allowed investors to focus on the yield advantage the United States enjoys over other countries. The advance stalled last week after weaker-than-expected April U.S. inflation data, but regained traction overnight as strong U.S. consumer spending numbers sent long-term Treasury yields surging to a seven-year peak of 3.095 percent. The 10-year Treasury yield had hovered around 3 percent since late last month on concerns about rising inflation and a ballooning federal budget gap. But until Tuesday, it was unable to convincingly break above 3 percent. [US/] “The dollar stands to benefit, particularly against the euro, on higher Treasury yields. But against the yen, its advance could stall if the negative impact of higher yields on equities is prolonged,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. The uptick in U.S. yields which unnerved equity markets and sent Wall Street shares significantly lower on Tuesday. The yen’s tends to draw demand in times of market turmoil and investor risk aversion. “The next focal point is trying to figure out the yield levels which are bearable for equities,” Ishikawa said. Broader risk sentiment was also dented after North Korea on Wednesday opted to suspend high-level talks with South Korea and said it may reconsider holding a summit with the United States if Washington continues to unilaterally insist on Pyongyang giving up its nuclear programme. “North Korea hardening its stance again at an earlier than expected juncture is a risk that bears watching,” said Daisuke Karakama, chief market economist at Mizuho Bank in Tokyo. The euro was 0.05 percent lower at $1.1833 after brushing $1.1815, its weakest since late December. The dollar edged down 0.05 percent to 110.285 yen, having risen to 110.450 overnight, its strongest since Feb. 5. The yen barely budged after data showed Japan’s economy contracted for the first time in nine quarters during January-March. The Australian dollar was largely flat at $0.7475 after sliding 0.7 percent overnight. The New Zealand dollar last traded at $0.6874 after plumbing a five-month trough of $0.6851. The pound was a shade weaker at $1.3501 after slipping to $1.3452 on Tuesday, its lowest since Dec. 29. Reporting by Shinichi Saoshiro; Editing by Simon Cameron-Moore

Dollar near 5-month peak after benchmark Treasury yield vaults above 3 percent

May 18, 2018 / 1:28 PM / in 17 minutes Putin says Nordstream 2 pipeline has nothing to do with politics Reuters Staff 1 Min Read SOCHI, Russia (Reuters) - Russian President Vladimir Putin said on Friday that the Nordstream 2 pipeline project had nothing to do with politics and that he considered it exclusively a commercial project. FILE PHOTO: Vladimir Putin is sworn as Russian President during an inauguration ceremony at the Kremlin. Sputnik/Mikhail Metzel/Pool via REUTERS Speaking at a joint news conference with German Chancellor Angela Merkel, Putin also said that Russia would still export some gas via Ukraine. Reporting by Denis Pinchuk; Writing by Maria Tsvetkova; Editing by Susan Fenton

Putin says Nordstream 2 pipeline has nothing to do with politics

Did Debut of Bitcoin Futures Trigger Crash in Price? New note says the launch of bitcoin futures in December caused the subsequent fall in prices. By Alexander Osipovich May 8, 2018 10:09 am ET Investors upset that bitcoin has crashed more than 50% since December could now have someone to blame: Chicago futures markets. That’s the conclusion of a new research note from the Federal Reserve Bank of San Francisco. It finds that the Dec. 17 launch of bitcoin futures at exchange giant , owner of the venerable Chicago […] To Read the Full Story Protests Outside NRA Convention Pull Focus to School Gun Violence Most Popular Articles <!-- share menu --> <menu class="shareMenu shareMenu--horizontal"> <li class="shareMenu__item hide4"> <a href="#print" class="shareIcon" data-sharemenu-action="print" aria-label="Print" data-sharemenu-track="print"> <svg class="shareSVG shareSVG--print" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 17.6"><path d="M-711-3365v4612H969v-4612H-711zM25 22.6H-5V-5h30v27.6z" fill="none"/><path d="M2.3 14.6h1v3h13.4v-3h1c1.3 0 2.3-1 2.3-2V9c0-1-1-2-2.2-2h-1V3.8l-4-3.8H3.4v7h-1C1 7 0 8 0 9v3.4c0 1.2 1 2.2 2.3 2.2zM12.5.6L16 4.2h-3.5V.8zM4 .7h8.2v4H16V7H4V.7zm0 14h12V17H4v-2.4z"/></svg> </a> </li> <li class="shareMenu__item"> <a class="shareIcon shareIcon--facebook" data-sharemenu-action="window" data-sharemenu-track="facebook" aria-label="Facebook" rel="nofollow noopener noreferrer" href="https://www.facebook.com/sharer/sharer.php?u=https://blogs.wsj.com/moneybeat/2018/05/08/debut-of-bitcoin-futures-triggered-crash-in-price/" target="_blank"> <svg class="shareSVG shareSVG--facebook" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 10.5 22.5"><path d="M10 11.3H7v11.2H2V11.3H0v-4h2.2V4.7C2.2 3 3.2 0 7 0h3.5v4H8c-.5 0-1 0-1 1v2.3h3.5l-.4 4z"/></svg> </a> </li> <li class="shareMenu__item"> </li> <li class="shareMenu__item hide12 hide16"> <span class="shareIcon" data-sharemenu-action="partial-scrim" data-target="fontScrim" aria-label="Text Resize"> <svg class="shareSVG shareSVG--font" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 18.5 17.5"><path d="M18.2 17.2c-.7 0-.7-.2-1-1.4L14.5 4.2h-.2l-2.7 11.3c-.3 1-.4 1.5-.7 1.7h-.4c-1 0-1-.2-1.3-2L5.6 0h-.3L1.7 14.8C1.2 17 1.2 17 0 17.2v.4h4v-.4h-.4c-1.6 0-1.6-.3-1-2.6L3 12h3.2l.8 3.4c.3 1.4.4 1.6-1 1.7h-.4v.5H13v-.3H13c-1.3 0-1.3-.2-1-2l.4-1.4H15l.5 2c.2 1.2.3 1.4-.8 1.4h-.3v.3h4v-.3h-.2zm-15-6l1.5-6 1.3 6H3.3zm9.4 1.7l1-4.8L15 13h-2.2z"/></svg> </span> </li> <li class="shareMenu__item hide12 hide16"> <span class="shareIcon" data-sharemenu-action="scrim" data-target="shareScrim"> <svg class="shareSVG shareSVG--more" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 21 5"><circle cx="10.5" cy="2.5" r="2.5" fill-rule="evenodd" clip-rule="evenodd"/><path d="M16 3c.3 1.2 1.3 2 2.5 2C20 5 21 4 21 2.5 21 1 20 0 18.5 0S16 1 16 2.5V3z" fill-rule="evenodd" clip-rule="evenodd"/><circle cx="2.5" cy="2.5" r="2.5" fill-rule="evenodd" clip-rule="evenodd"/></svg> </span> </li> <li class="shareMenu__item hide4 hide8 sharePopup__wrap"> <a href="https://blogs.wsj.com/moneybeat/2018/05/08/debut-of-bitcoin-futures-triggered-crash-in-price/" class="shareIcon" data-sharemenu-action="link" data-sharemenu-wait-for-init="true" data-sharemenu-sync="link" data-sharemenu-track="permalink" aria-label="Copy link"> <svg class="shareSVG shareSVG--link" viewBox="0 0 19 19" xmlns="http://www.w3.org/2000/svg"><path d="M2 13.7l1.3-1.3-.7-.6a1 1 0 0 1 0-1.3l7.8-7.7a1 1 0 0 1 .6-.3c.2 0 .5 0 .6.3l.7.6L13.6 2l-.7-.5c-1-1-3-1-4 0L1.5 9.2a2.7 2.7 0 0 0 0 3.8l.6.7zm16-7l-.6-.7L16 7.3l.8.6a1 1 0 0 1 0 1.2L9 17A1 1 0 0 1 8 17l-.7-.7-1 1.2.5.7c.5.5 1.2.8 2 .8.7 0 1.3-.3 2-.8l7.6-7.7a2.7 2.7 0 0 0 1-2c0-.7-.4-1.4-1-2m-1.2-5L18 2.8l-6.4 6.4L10.4 8zm-9 9L9 11.8l-6.4 6.4L1.4 17z"/></svg> </a> </li> </menu> <!-- end share menu --> <!-- font controls --> <div class="shareScrim shareScrim--partial" id="fontScrim" aria-label="Font Size - press Esc to close"> <span class="shareIcon shareIcon--clear shareScrim__close" data-sharemenu-action="partial-scrim" data-target="fontScrim" aria-label="close"> <svg class="shareSVG shareSVG--close" id="Layer_1" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 21.9 22"><polygon id="XMLID_4_" points="12.2,11 12.2,10.9 21.9,1.2 20.7,0 10.9,9.7 1.2,0 0,1.2 9.7,10.9 9.7,11 9.7,11.1 0,20.8 1.2,22 10.9,12.3 20.7,22 21.9,20.8 12.2,11.1 "/></svg> </span> <div class="shareScrim__content fontButtons"> <span class="shareLabel2">Text Size</span> <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="regular" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizeregular" data-sharemenu-track="resize" id="fontsize-scrim-regular"> <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-regular"> <div class="fontButton fontButton--small"> <svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg> </div> Small </label> <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="medium" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizemedium" data-sharemenu-track="resize" id="fontsize-scrim-medium"> <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-medium"> <div class="fontButton fontButton--medium"> <svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg> </div> Medium </label> <input class="fontButtons__input fontButtons__input--scrim" type="radio" name="fontsize-scrim" value="large" data-sharemenu-action="fontsize" data-sharemenu-sync="fontsizelarge" data-sharemenu-track="resize" id="fontsize-scrim-large"> <label class="fontButtons__label fontButtons__label--scrim" for="fontsize-scrim-large"> <div class="fontButton fontButton--large"> <svg class="shareSVG shareSVG--fontButton" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 19 25"><path d="M5.406 16.565L4.25 20.8c-.7 2.52-.664 3.15 1.47 3.255l.77.035V25H.54v-.91c1.436-.175 1.68-.385 2.416-2.975L8.8.325h.7l6.3 21.455c.526 1.715.666 2.1 1.89 2.24l.596.07V25h-8.96v-.91l.595-.035c2.73-.175 2.416-.595 1.89-2.485l-1.4-5.005H5.407zm4.725-1.05l-2.24-7.98-2.204 7.98h4.445z"/></svg> </div> Large </label> </div> </div> <!-- end font controls --> <!-- scrim share menu --> <div class="shareScrim" id="shareScrim" aria-label="Share Menu - press Esc to close"> <div class="shareScrim__content"> <menu class="shareScrim__itemlist"> <li class="shareScrim__item"> <a href="#print" class="shareButton" data-sharemenu-action="print" data-sharemenu-track="print" title="Print"> <span class="shareIcon shareIcon--clear"> <svg class="shareSVG shareSVG--print" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 17.6"><path d="M-711-3365v4612H969v-4612H-711zM25 22.6H-5V-5h30v27.6z" fill="none"/><path d="M2.3 14.6h1v3h13.4v-3h1c1.3 0 2.3-1 2.3-2V9c0-1-1-2-2.2-2h-1V3.8l-4-3.8H3.4v7h-1C1 7 0 8 0 9v3.4c0 1.2 1 2.2 2.3 2.2zM12.5.6L16 4.2h-3.5V.8zM4 .7h8.2v4H16V7H4V.7zm0 14h12V17H4v-2.4z"/></svg> </span> Print </a> </li> <li class="shareScrim__item"> <a href="https://www.facebook.com/sharer/sharer.php?u=https://blogs.wsj.com/moneybeat/2018/05/08/debut-of-bitcoin-futures-triggered-crash-in-price/" data-sharemenu-action="clickthrough" data-sharemenu-track="facebook" class="shareButton shareButton--facebook" target="_blank" rel="nofollow noopener noreferrer"> <span class="shareIcon shareIcon--clear"> <svg class="shareSVG shareSVG--facebook" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 10.5 22.5"><path d="M10 11.3H7v11.2H2V11.3H0v-4h2.2V4.7C2.2 3 3.2 0 7 0h3.5v4H8c-.5 0-1 0-1 1v2.3h3.5l-.4 4z"/></svg> </span> Facebook </a> </li> <li class="shareScrim__item"> </li> <li class="shareScrim__item"> </li> <li class="shareScrim__item"> <a href="sms:?&body=https://blogs.wsj.com/moneybeat/2018/05/08/debut-of-bitcoin-futures-triggered-crash-in-price/" class="shareButton" data-sharemenu-track="sms"> <span class="shareIcon shareIcon--clear"> <svg class="shareSVG shareSVG--sms" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 13 21"><path d="M10.717.84h-8c-1.103 0-2 .897-2 2v16c0 1.104.897 2 2 2h8c1.103 0 2-.896 2-2v-16c0-1.104-.897-2-2-2zm-8 4h8v-2h-8v2zm0 10h8v-8h-8v8zm0 4h8v-2h-8v2z" fill-rule="evenodd"></path></svg> </span> SMS </a> </li> <li class="shareScrim__item"> <a href="https://blogs.wsj.com/moneybeat/2018/05/08/debut-of-bitcoin-futures-triggered-crash-in-price/" class="shareButton" data-sharemenu-action="link" data-sharemenu-wait-for-init="true" data-sharemenu-sync="link" data-sharemenu-track="permalink"> <span class="shareIcon shareIcon--clear"> <svg class="shareSVG shareSVG--link" viewBox="0 0 19 19" xmlns="http://www.w3.org/2000/svg"><path d="M2 13.7l1.3-1.3-.7-.6a1 1 0 0 1 0-1.3l7.8-7.7a1 1 0 0 1 .6-.3c.2 0 .5 0 .6.3l.7.6L13.6 2l-.7-.5c-1-1-3-1-4 0L1.5 9.2a2.7 2.7 0 0 0 0 3.8l.6.7zm16-7l-.6-.7L16 7.3l.8.6a1 1 0 0 1 0 1.2L9 17A1 1 0 0 1 8 17l-.7-.7-1 1.2.5.7c.5.5 1.2.8 2 .8.7 0 1.3-.3 2-.8l7.6-7.7a2.7 2.7 0 0 0 1-2c0-.7-.4-1.4-1-2m-1.2-5L18 2.8l-6.4 6.4L10.4 8zm-9 9L9 11.8l-6.4 6.4L1.4 17z"/></svg> </span> Copy Link </a> </li> </menu> <span class="shareIcon shareIcon--clear shareScrim__close" data-sharemenu-action="close" data-target="shareScrim" aria-label="close"> <svg class="shareSVG shareSVG--close" id="Layer_1" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 21.9 22"><polygon id="XMLID_4_" points="12.2,11 12.2,10.9 21.9,1.2 20.7,0 10.9,9.7 1.2,0 0,1.2 9.7,10.9 9.7,11 9.7,11.1 0,20.8 1.2,22 10.9,12.3 20.7,22 21.9,20.8 12.2,11.1 "/></svg> </span> </div> </div> <!-- end scrim share menu -->

Debut of Bitcoin Futures Triggered Crash in Price - MoneyBeat - WSJ

May 2, 2018 / 10:44 AM / Updated 11 minutes ago BRIEF-LSC Communications To Acquire Print Logistics Component Of RRD's Logistics Business Reuters Staff 1 Min Read May 2 (Reuters) - LSC Communications Inc: * LSC COMMUNICATIONS AND RRD ENTER INTO A DEFINITIVE AGREEMENT FOR LSC TO ACQUIRE THE PRINT LOGISTICS COMPONENT OF RRD’S LOGISTICS BUSINESS * LSC COMMUNICATIONS INC - THE ACQUISITION IS EXPECTED TO CLOSE IN Q3 2018

BRIEF-LSC Communications To Acquire Print Logistics Component Of RRD's Logistics Business

May 16, 2018 / 7:01 AM / Updated 3 minutes ago Alawwal and SABB to merge to create Saudi Arabia's third largest bank Tom Arnold , Hadeel Al Sayegh 3 Min Read DUBAI (Reuters) - Saudi British Bank (SABB) 1060.SE and Alawwal Bank 1040.SE have agreed a merger that would create Saudi Arabia’s third-biggest bank with assets of around $77 billion (57 billion pounds), the two banks said on Wednesday. The first major banking tie-up in the kingdom for around 20 years comes as Saudi Arabia embarks upon a plan to transform the economy and cut its dependence on oil revenues. The boards of the two banks have reached a non-binding agreement on the share exchange ratio, subject to several conditions, the two banks said in separate joint statements to the Saudi Arabian bourse. SABB, which is 40 percent owned by HSBC Holdings ( HSBA.L ), and Alawwal said in April last year they had agreed to start talks on the merger. Alawwal is 40 percent owned by Royal Bank of Scotland ( RBS.L ). “A binding agreement is yet to be entered into between Alawwal bank and SABB,” the two banks said. “Any binding agreement to proceed with the merger will be subject to a number of conditions, including SAMA [central bank], other regulatory authorities, and the shareholders’ approval.” Progress on the merger had taken longer than expected partly because the regulatory environment for bank acquisitions in Saudi Arabia is relatively untested. Shareholders were also assessing any potential impact from the kingdom’s anti-corruption drive, two sources told Reuters in January. The steps still to be agreed include completion of confirmatory due diligence, finalisation of the merger deal and agreement on a number of other commercial issues, the banks said. Based on the preliminary agreement, Alawwal shareholders would receive 0.485 SABB shares for each Alawwal bank share, they said. Based on the exchange ratio and the closing price of 33.5 riyals ($8.93) per SABB share on Monday, the last trading day prior to the date of this announcement, the merger would value each Alawwal bank share at 16.3 riyals and Alawwal’s existing issued ordinary share capital at approximately 18.6 billion riyals, the statement said. This represents a premium of 28.5 percent to the Alawwal Bank share price, the banks said. “[The] merger would be a win-win situation. It would create the third-largest bank in the kingdom in terms of assets and net profit, which could reach 5.9 billion riyals annually,” said Mazen al-Sudairi, head of research at Al Rajhi Capital. Additional reporting by Saeed Azhar in Dubai and Marwa Rashad in Riyadh; Editing by Ghaida Ghantous and Catherine Evans

Alawwal and SABB to merge to create Saudi Arabia's third largest bank

(Reuters) - Canada has blocked a proposed C$1.51 billion ($1.18 billion) takeover of construction company Aecon ( ARE.TO ) by a Chinese state builder on national security grounds, underscoring rising wariness of Chinese firms buying up assets in Western countries. Canadian Minister of Innovation Science and Economic Development, Navdeep Bains, introduces Blackberry CEO John Chen (not pictured) at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2018. REUTERS/Rebecca Cook Aecon’s takeover by overseas investment and financing arm of China Communications Construction Co Ltd ( 601800.SS ) was scheduled to close in February. But this was delayed after Canada extended a national security review. Aecon, which has helped build Canadian landmarks including the CN Tower and the Saint Lawrence Seaway, saw its shares tumble 15 percent to a 10-month low on the Toronto Stock Exchange on Thursday. The Canadian government has now ordered CCCC International Holding Ltd not to implement the proposed investment to protect national security, Canadian Innovation Minister Navdeep Bains said in a statement on Wednesday. “Our government is open to international investment that creates jobs and increases prosperity, but not at the expense of national security,” Bains said. Canadian Prime Minister Justin Trudeau said earlier his government would closely monitor security issues when it decided whether to allow the deal, examining the implications for intellectual property protections. Related Coverage China urges level playing field after Canada blocks company takeover China's CCCC says has not received notification of Aecon deal rejection from Canada China’s foreign ministry said it hoped Canada could “abandon its prejudices” and provide a level playing field for Chinese enterprises in response to a question about the Aecon deal. “In principle, China always opposes the politicization of this kind of trade and investment activity and we oppose the mistaken method of carrying out political interference on the basis of so-called national security reasons,” ministry spokesman Lu Kang said on Thursday. Aecon said it was disappointed with the government’s decision and was no longer pursuing a sale process. “We believe ... uncertainty around the company’s future strategic direction, particularly with a CEO search underway, is likely to weigh on share prices substantially,” AltaCorp Capital analyst Chris Murray said. An executive from CCCC’s investor relations team in Beijing told Reuters the company had yet to receive relevant documents from the Canadian government. Ottawa’s move comes as Canada is in exploratory trade talks with China as the country seeks to diversify its export markets. Chinese interests in overseas assets has worried governments elsewhere such as in Denmark, whose officials have expressed concern over Greenland courting Chinese firms, including CCCC, to expand three airports. The Committee on Foreign Investment in the United States (CFIUS), which scrutinizes foreign purchases of U.S. assets to protect national security interests, has also been tightening scrutiny of Chinese companies’ acquisitions of American firms. Earlier this month, Chinese conglomerate HNA Group dropped its bid for most of SkyBridge Capital. In January, Ant Financial’s plan to acquire U.S. money transfer company MoneyGram International collapsed after CFIUS rejected it over national security concerns. U.S. President Donald Trump has also blocked microchip maker Broadcom’s ( AVGO.O ) $117 billion bid to buy Qualcomm ( QCOM.O ) on national security grounds, ending what would have been the technology industry’s biggest deal ever amid concerns that it would give China the upper hand in mobile communications. Reporting by Taenaz Shakir and Rama Venkat Raman in Bengaluru, Leah Schnurr in Ottawa and Brenda Goh in Shanghai; Additional reporting by Michael Martina in Beijing; Editing by Peter Cooney and Himani Sarkar

Canada blocks China's takeover of Aecon

May 16 (Reuters) - BDF SA: * REPORTED ON TUESDAY Q1 NET LOSS OF 0.1 MILLION ZLOTYS VERSUS LOSS OF 0.8 MILLION ZLOTYS YEAR AGO * Q1 REVENUE 1.3 MILLION ZLOTYS VERSUS 1.8 MILLION ZLOTYS YEAR AGO Source text: bit.ly/2GmFnXS Further company coverage: (Gdynia Newsroom)

BRIEF-BDF Q1 Net Loss Narrows To 0.1 Million Zlotys

BEIJING/SHANGHAI (Reuters) - Chinese real estate conglomerate Dalian Wanda Group will form a joint venture with technology giant Tencent Holdings ( 0700.HK ) and Groupon Inc’s ( GRPN.O ) former local unit to integrate online and offline businesses, as the companies move towards “smart retail”. FILE PHOTO: A sign of Dalian Wanda Group in China glows during an event announcing strategic partnership between Wanda Group and FIFA in Beijing, China March 21, 2016. REUTERS/Damir Sagolj Wanda Group’s Wanda Commercial Management Group and Tencent will take 51 percent and 42.48 percent, respectively, in the new company, Wanda said in a statement on Wednesday. Gaopeng, U.S. daily deals company Groupon Inc’s ( GRPN.O ) former affiliate in China and now backed by Tencent, will hold the remaining stake, Wanda said. Wanda’s existing internet business will be merged into the new company, while Tencent will provide online traffic, Wanda said. Gaopeng’s electronics invoicing business will also be integrated into the venture. The partnership will aim to transform Wanda’s offline presence into smart shopping malls, and drive online traffic through Tencent’s platforms including WeChat, Wanda said. The deal will also speed implementation of Tencent’s smart retail strategy, it said. Tencent and Alibaba Group Holding Ltd ( BABA.N ) are already on an aggressive drive to boost their reach online and in brick-and-mortar stores, dividing the country’s retail market into two camps. The two tech behemoths, worth a combined $1 trillion, have spent more than $10 billion on retail-focused deals since the start of last year. In January, a group led by Tencent made a 34 billion yuan ($5.29 billion) investment in Wanda’s commercial property arm, easing Wanda’s financial stress. Reporting by Pei Li and Adam Jourdan; Editing by Biju Dwarakanath Our Standards: The Thomson Reuters Trust Principles.

China's Wanda Group, Tencent team up for 'smart retail'

Masimo Corp: * MASIMO REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS * Q1 NON-GAAP EARNINGS PER SHARE $0.75 * Q1 GAAP EARNINGS PER SHARE $0.82 * Q1 EARNINGS PER SHARE VIEW $0.69 — THOMSON REUTERS I/B/E/S * SEES 2018 GAAP TOTAL REVENUE, INCLUDING ROYALTY AND OTHER REVENUE $846 MILLION * SEES 2018 NON-GAAP TOTAL REVENUE, INCLUDING ROYALTY AND OTHER REVENUE $ 846 MILLION * SEES 2018 GAAP DILUTED EARNINGS PER SHARE $3.01 * SEES 2018 NON-GAAP DILUTED EARNINGS PER SHARE $2.88 * FY2018 EARNINGS PER SHARE VIEW $2.81, REVENUE VIEW $838.8 MILLION — THOMSON REUTERS I/B/E/S * Q2 EARNINGS PER SHARE VIEW $0.70, REVENUE VIEW $209.0 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

BRIEF-Masimo Q1 GAAP Earnings Per Share $0.82

Oil slumps as S Arabia, Russia consider output boost 5:28pm BST - 01:35 Oil prices fell more than 2 percent towards $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014. David Pollard reports. ▲ Hide Transcript ▶ View Transcript Oil prices fell more than 2 percent towards $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014. David Pollard reports. Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code https://reut.rs/2IKn4SB

Oil slumps as S Arabia, Russia consider output boost

HONG KONG, April 30, 2018 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China, today announced its results of operations for the year ended December 31, 2017 as follows. CHINA NATURAL RESOURCES, INC. CONSOLIDATED STATEMENTS OF PROFIT OR LOSS YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017 (Amounts in thousands, except share and per share data) Year Ended December 31, 2015 2016 2017 2017 CNY CNY CNY US$ (Restated) (Restated) CONTINUING OPERATIONS Administrative expenses (3,577) (4,519) (6,204) (953) OPERATING LOSS (3,577) (4,519) (6,204) (953) Finance costs (2) (1) (14) (2) Foreign exchange difference, net (354) — — — Interest income 164 75 39 6 LOSS BEFORE INCOME TAX FROM CONTINUING OPERATIONS (3,769) (4,445) (6,179) (949) INCOME TAX EXPENSE (1,504) — — — LOSS FOR THE YEAR FROM CONTINUING OPERATIONS (5,273) (4,445) (6,179) (949) DISCONTINUED OPERATIONS Loss for the year from discontinued operations, net of tax (36,176) (18,591) (23,817) (3,660) LOSS FOR THE YEAR (41,449) (23,036) (29,996) (4,609) ATTRIBUTABLE TO: Owners of the Company From continuing operations (5,273) (4,445) (6,179) (949) From discontinued operations (36,176) (18,591) (23,817) (3,660) (41,449) (23,036) (29,996) (4,609) Non-controlling interests From continuing operations — — — — From discontinued operations — — — — — — — — (41,449) (23,036) (29,996) (4,609) LOSS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY: Basic - For loss from continuing operations (0.21) (0.18) (0.25) (0.04) - For loss from discontinued operations (1.45) (0.74) (0.95) (0.15) - Net loss per share (1.66) (0.92) (1.20) (0.19) Diluted - For loss from continuing operations (0.21) (0.18) (0.25) (0.04) - For loss from discontinued operations (1.45) (0.74) (0.95) (0.15) - Net loss per share (1.66) (0.92) (1.20) (0.19) The consolidated statements of profits or loss of the Company for the years ended December 31, 2015, 2016 and 2017 have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). The consolidated statements of profits or loss have been derived from and should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2017 contained in the Company's annual report on Form 20-F as filed with the Commission on April 30, 2018. Mr. Wong Wah On Edward, the Company's Chairman, commented on the results: "The Board has determined to focus the Company's resources on metals explorations and mining activities and other business operations in the PRC. In November 2017, we acquired Bayannaoer Mining which owns the right to explore for minerals at a mine located in Inner Mongolia Autonomous Region of the PRC. In December 2017, we sold our copper smelting plant in Bolivia. We will continue to explore new businesses opportunities to contribute to revenues and enhance shareholder values." For the convenience of the reader, amounts in Chinese Yuan ("CNY") have been translated into United States dollars ("US$") at the rate of US$1.00=CNY6.5067 as Quote: d by www.ofx.com on December 31, 2017. The CNY is not freely convertible into foreign currencies and no representation is made that the CNY amounts could have been, or could be, converted into US$ at that rate, or at all. About China Natural Resources: China Natural Resources, Inc., a British Virgin Islands corporation, through its operating subsidiaries in the People's Republic of China, is currently engaged in the exploration for lead, silver and other metals in the Inner Mongolia Autonomous Region of the People's Republic of China. Forward-Looking Statements: This press release includes forward-looking statements within the meaning of federal securities laws. These statements include, without limitation, statements regarding the intent, belief and current expectations of the Company, its directors or its officers with respect to the Company's policies regarding investments, dispositions, financings, conflicts of interest and other matters; and trends affecting the Company's financial condition or results of operations. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement as a result of various factors. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results, uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, uncertainties associated with the Company's reliance on third-party contractors, uncertainties relating to possible future increases in operating expenses, including costs of labor and materials, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. With respect to forward-looking statements that include a statement of its underlying assumptions or bases, the Company cautions that, while it believes such assumptions or bases to be reasonable and has formed them in good faith, assumed facts or bases almost always vary from actual results, and the differences between assumed facts or bases and actual results can be material depending on the circumstances. When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. View original content: http://www.prnewswire.com/news-releases/china-natural-resources-inc-announces-2017-results-of-operations-300639395.html SOURCE China Natural Resources, Inc.

China Natural Resources, Inc. Announces 2017 Results Of Operations

The leading U.S. marketplace for cryptocurrencies has been quietly preparing for a monster increase in trading volume. In a response to New York Attorney General Eric Schneiderman's ongoing inquiry into exchanges, the private company disclosed some key company data. Coinbase said it has doubled the size of its full-time engineering staff and has overhauled much of the the platform's code. "These efforts and others have resulted in a 1000% increase in our surge, transaction capacity relative to Q3 of 2017," Coinbase said in a public version of the letter published this week. "We expect to again double this capacity in coming months, all while maintaining the highest standard of security expected by our customers." The company's COO, Asiff Hirji, said serious demand for cryptocurrency and its core technology blockchain made that effort necessary. "More people are starting to realize that this is foundational and you have the best and brightest in crypto running to build applications," Hirji told CNBC. "If you believe that, It's not surprising to see ever increasing volumes and record transactions." Coinbase is also gearing up for more institutional money to enter the market, Hirji said, pointing to a New York Times report Thursday that Goldman Sachs is looking to start a bitcoin trading desk. In the letter, Coinbase said it has traded $150 billion in assets on the platform and it has received more than $225 million in funding. Personnel numbers were also disclosed, and the company has hired more than 300 full-time employees. When contractors are factored in, the company has 1,000 people working for Coinbase. Nearly 20 percent work in compliance, the company said. The company scaled quickly to keep up with demand last year as cryptocurrency trading skyrocketed. Bitcoin, the largest cryptocurrency by market capitalization, rose 1,300 percent last year, nearing a high of $20,000 in December. As the company grew, some customers took to sites like Redddit to complain about site outages and customer support. Coinbase improved the amount of time the platform is fully functional, and operating smoothly known as "uptime." "We are proud to have delivered 99.97% uptime to users of the platform in the period January 1 to present, and 99.99% uptime in the month of April," Coinbase said. Coinbase reportedly valued itself at about $8 billion when it made an offer in a recent acquisition for Earn.com. The internal estimate is much higher than its last preferred valuation of $1.6 billion, Recode reported. Coinbase declined to comment on its valuation.

Top crypto exchange Coinbase prepares for a monster increase in trading

May 8 (Reuters) - Electronic Arts Inc forecast current-quarter revenue below Wall Street estimates on Tuesday, as the video-game publisher faces rising competition from free-to-play digital games “Fortnite” and “PlayerUnknown’s Battlegrounds”. The company forecast first-quarter adjusted revenue of $780 million, below analysts’ average estimate of $795.9 million, according to Thomson Reuters I/B/E/S. The success of games from the “battle royale” genre such as “Fortnite” have somewhat challenged publishers including Activision Blizzard Inc and Take Two Interactive Software Inc. Epic Games launched the free-to-play “battle royale” mode for “Fortnite” on computers and gaming consoles in September. The mode allows up to 100 online players to battle each other to the death until only one player survives. Sales at EA’s high-margin digital business however rose 18 percent to $1.10 billion in the fourth quarter as more gamers bought their titles online instead of purchasing physical copies from retail stores. Net income rose to $607 million, or $1.95 per share, in the fourth quarter ended March. 31, from $566 million, or $1.81 per share, a year earlier. Videogame companies are required to defer some revenue from certain online-enabled games following a tweak to the U.S. accounting rules. On an adjusted basis, EA’s revenue was $1.26 billion for the reported quarter, beating estimates of $1.24 billion. (Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta)

Game publisher EA's first-quarter forecast misses estimates

May 13, 2018 / 11:01 PM / in 8 minutes Peace talks ignite land buying frenzy along South Korea's fortified border Reuters Staff * Property sales in border town of Paju double in Mar vs Feb * Public barred from access to DMZ but sales can be registered * Mines, possible conservation restrictions among risks * For multimedia coverage of North Korea: www.reuters.com/north-korea/ By Joori Roh and Cynthia Kim SEOUL, May 14 (Reuters) - Forget Seoul’s posh Gangnam district. With North Korea pledging to reduce tensions and renew ties with its southern neighbour, South Korea’s hottest property market is now along the heavily fortified border between the two countries. Demand for property in small towns and sparsely populated rural areas around the Demilitarised Zone (DMZ) is surging on expectations of an influx of people and investment. Kang Sung-wook, a 37-year old dentist in the South Korean border city of Paju, has bought eight separate lots of land in and around the DMZ since mid-March. Five were purchased without ever setting foot on them, using only Google Earth satellite photos and maps, as areas inside the DMZ cannot not be accessed by the public. Kang said buying interest jumped so sharply as relations between the former foes improved that he needed to move fast. “I was out looking since North Korea-U.S. summit news was announced in March, and it looked like all the good ones were gone already,” said Kang. “I realized then that the market was on fire.” His investment along the border now totals 3 billion won ($2.8 million) for 49 acres (20 hectares) of land. RAZOR WIRE AND RESTRICTIONS For decades, the DMZ has been a different kind of hot spot, the scene of sometimes deadly military provocations and daring defections from the North. The zone, dotted with guard posts and strung with razor wire, was established after the 1950-1953 Korean War. The two Koreas still don’t officially recognize each other and remain in a technical state of war because the conflict ended in a truce, not a peace agreement. Over a million landmines were laid in border areas including the DMZ and the Civilian Control Zone in the South, said Jeong In-cheol, a landmine expert at National Park Conservation Network. But while public access is restricted, land within the 2km (1.2 mile) wide South Korean side of the DMZ and other border areas can still be purchased and registered. Land transactions in Paju, gateway to the United Nations truce village of Panmunjom, more than doubled in March to 4,628 from February, government data shows. That far outstripped better known markets such as trendy Gangnam, where volumes were up just 9 percent. In the settlement of Jangdan-myun, home to Dorasan Station - the last railway stop south of the border - transaction volumes surged four-fold from a year earlier. Land prices there rose 17 percent over the same period. Kim Yoon-sik, a realtor with 25 years experience in Paju, says owners of the land in the DMZ include those who inherited farmland from ancestors in pre-Korean war days and some long term investors. “With bids outnumbering offers, I often see sellers cancelling on preliminary contracts, it’s that hot,” Kim said. RAILWAYS AND CONSTRUCTION The surge of activity along the border is not limited to South Korea or just real estate. In the northeastern Chinese border city of Dandong, property investors are pushing up prices and even spurring buying interest inside North Korea. At last month’s historic inter-Korean summit at Panmunjom, North Korean leader Kim Jong Un and South Korean President Moon Jae-in pledged to reconnect railways and roads along the border, and transform the DMZ into a “peace zone”. China and South Korea have also agreed that if North Korea undertakes complete denuclearisation, it should be guaranteed economic aid. That could start with railway projects connecting China and South Korea through North Korea. Shares of South Korea’s construction and railway firms such as Hyundai Rotem and Seoam Machinery Industry Co have soared on hopes of such projects. FALSE DAWN? But South Korea has seen this kind of excitement before. Border property prices spiked when former President Roh Moo-hyun met with North Korea’s Kim Jong Il in 2007. Prices then plummeted as ties deteriorated when the right-wing government of Lee Myung-bak took power a year later. “For the past seven decades, the two Koreas have taken radically different paths,” said Jhe Seong-ho, a law school professor at Seoul’s Chung Ang University. “Deregulating of the border zones won’t be a quick and smooth process even if there is an economic opening up of North Korea.” Much of the land within the DMZ is likely to remain restricted from any development for conservation purposes, a huge risk for investors, he added. Hopes are high, however, with Kim set to meet U.S. President Donald Trump in Singapore next month after his recent summit with Moon and two trips to China to meet President Xi Jinping. “I have a firm belief that this time North Korea would pursue an open economy like Vietnam,” Kang said. “Kim Jong Un wouldn’t go everywhere and visit China twice if he was bluffing.” (Reporting by Joori Roh and Cynthia Kim. Editing by Lincoln Feast.)

Peace talks ignite land buying frenzy along South Korea's fortified border

May 30, 2018 / 11:04 AM / Updated an hour ago Cohen attorney assails Stormy Daniels' lawyer; judge sets deadline for document review Jonathan Stempel , Brendan Pierson 4 Min Read NEW YORK (Reuters) - A lawyer for U.S. President Donald Trump’s longtime personal attorney, Michael Cohen, on Wednesday accused adult film actress Stormy Daniels’ lawyer of leaking Cohen’s bank records to the press, calling it a “drive-by shooting of my client’s rights.” U.S. President Donald Trump's personal lawyer Michael Cohen leaves federal court in Manhattan, New York, U.S., May 30, 2018. REUTERS/Shannon Stapleton The comments by Cohen lawyer Stephen Ryan regarding Daniels’ lawyer, Michael Avenatti, came during an often-heated hearing before U.S. District Judge Kimba Wood in Manhattan related to a criminal investigation by federal prosecutors into Cohen’s business dealings. Avenatti told Wood he did not release anything improper about Cohen, who has not been charged with a crime. But the judge told Avenatti he would not have free rein in her courtroom “to denigrate Mr. Cohen and, I believe, potentially, deprive him of a fair trial by tainting a jury pool” should criminal charges be brought against Cohen. Leaks could make it harder for Cohen to get a fair trial if he were charged. Legal experts have said he might choose to cooperate with prosecutors as pressure mounts. The investigation stems in part from a referral by Special Counsel Robert Mueller, who is probing whether Trump’s 2016 presidential campaign colluded with Russia. U.S. President Donald Trump's personal lawyer Michael Cohen arrives at federal court in Manhattan, New York, U.S., May 30, 2018. REUTERS/Shannon Stapleton Trump has repeatedly denied any collusion, and Russia has denied meddling in the U.S. election. At Wednesday’s hearing, Wood set a June 15 deadline for Cohen’s and Trump’s lawyers to identify materials seized in April raids on his home, office and hotel room, which they say prosecutors cannot use by prosecutors because the materials are subject to attorney-client privilege. Wood said a “taint team” of prosecutors not involved in the Cohen probe would make the determinations after that date. Ryan, one of Cohen’s lawyers, said in court that Avenatti acted maliciously by releasing his client’s bank records and attacking Cohen in dozens of media appearances, to “paint a false narrative” about Cohen and “call attention to himself.” Slideshow (8 Images) Avenatti has released details of payments to Cohen from a company linked to Russian oligarch Viktor Vekselberg, who the United States sanctioned over suspected meddling in the election. Avenatti’s involvement has complicated the Cohen probe. Daniels, whose real name is Stephanie Clifford, has said she had a sexual encounter with Trump, and sued Cohen in March to end an agreement under which Cohen paid her $130,000 not to discuss it. Trump has denied having sex with Daniels. Speaking to reporters after the hearing, Avenatti signaled that more disclosures are forthcoming. “We’ve got a whole host of information that we are going to be releasing relating to Mr. Cohen and relating to Mr. Trump, so they better buckle up,” he said. The June 15 deadline to review documents seized from Cohen was a month sooner than Cohen’s lawyers had wanted. Todd Harrison, a lawyer for Cohen, said his firm was “moving heaven and Earth” to review documents. He said they have reviewed about 1.3 million of the 3.7 million files turned over. But the judge said taking too long was not an option. “It’s important for the court to balance the slow, deliberate needs of those asserting attorney-client privilege with the need for an investigation to go forward,” Wood said. Reporting by Brendan Pierson and Jonathan Stempel in New York; Additional reporting by Karen Freifeld and Nathan Layne in New York; editing by Jonathan Oatis and Noeleen Walder

Federal judge to hear from Stormy Daniels lawyer in Cohen case

U.S. government bond prices edged higher Thursday as traders reacted to softer-than-expected eurozone inflation data. The yield on the benchmark 10-year U.S. Treasury note settled at 2.946%, compared with 2.964% Wednesday. Yields, which fall when bond prices rise, slid after a report showed eurozone inflation in April was 0.7% excluding energy,...

Treasurys Strengthen Following Soft Eurozone Inflation Data

NEW DELHI—Police opened fire Tuesday on protesters demanding the closure of a south Indian copper plant, killing nine people, officials said. Dozens more people were reportedly injured. The violence came amid months of protests against the Sterlite copper smelting plant in the town of Tuticorin, which demonstrators say has polluted the area’s groundwater and put local fisheries at risk. On...

Nine People Killed in Protest in South India

May 3, 2018 / 2:15 PM / Updated 11 minutes ago As Greek islands heave under influx, refugees turn to old river route Lefteris Papadimas 4 Min Read GREEK-TURKISH BORDER, Northern Greece (Reuters) - As dawn breaks over the waterlogged plain along the border Greece shares with Turkey, an all-too familiar outline of refugees emerges through the morning haze, picking their way through a road well travelled by thousands before them. Syrian refugees who crossed the Evros river, the natural border between Greece and Turkey, board a police truck transferring them to a first reception centre, near the village of Nea Vyssa, Greece, May 2, 2018. REUTERS/Alkis Konstantinidis Young parents carrying infants and widowed women following railway tracks they hope will lead them to a town have become a common sight in the fields at Greece’s north-eastern border region with Turkey. “Do not send us back because we ran away from a war,” pleaded Maya, 28, from the Syrian city of Aleppo. When a Reuters team caught up with her, she, her father, her sister and her six children had been walking for 13 hours. Two years after a sea passage used in a mass migration wave from Turkey to Greece’s islands was effectively sealed, more and more refugees are re-discovering an old smugglers’ route through the watery land border splitting the two countries. In April alone, at least 2,900 people arrived in Greece via Evros, the river border separating Greece from Turkey. That equals half the estimated arrivals for 2017 overall, United Nations refugee agency UNHCR said on April 27. A Syrian refugee who crossed the Evros river, the natural border between Greece and Turkey, rests in a field as they wait for the police to arrive and transfer them to a first reception centre, near the village of Nea Vyssa, Greece, May 2, 2018. REUTERS/Alkis Konstantinidis NEW ROUTE, REVISITED Police and local government officials in the region are worried at the trend. A burst in arrivals, they say, more or less mirror an upsurge in hostilities in either Iraq or Syria. Nearly a million refugees and migrants crossed from Turkey to Greece’s islands in 2015, but that route all but closed after the European Union and Ankara agreed to stop the flow in March 2016. Under the deal, anyone who crosses to the Greek islands must qualify for asylum or face deportation to Turkey. The accord effectively turned five Aegean islands into cramped holding camps for more than 15,000 people unable to leave until their claims are processed. The land border does not appear to fall under the agreement, but a UNHCR official cautioned at jumping to conclusions the exclusion actually diverted the migrant flow elsewhere. Slideshow (30 Images) Aid workers and police officials told Reuters those who arrive via the Evros river are taken to be registered, and then given a three month resident permit. Theoretically, they are free to move around Greece - unlike those on the islands. TREACHEROUS WATERS About thirty-five refugees from the besieged Syrian city of Afrin took a country road close to the community of Nea Vyssa early in the morning of May 2. One man cradled a month old baby, Abdu, in a small blue swaddling blanket. A second man strode, a blank look in his eyes as a sleeping toddler bounced around in the pouch he had strapped to his front. Beyond that, a small blonde girl in pigtails and pink rubber boots scowled as an adult pulled her along the road, clutching a pink ragdoll. It can take about five to six minutes to paddle one’s way across the Evros river, compared to a harrowing journey in the open seas on overcrowded rafts. Yet the fast-moving waters are treacherous. Before the sea corridor between Turkey and Greek islands became a grave for hundreds of refugees in 2015, Evros had claimed at least 1,500 lives over the past 18 years. Twelve deaths in the first quarter of the year have outpaced all of 2017 put together, when 8 people drowned, said associate professor of forensic medicine Pavlos Pavlidis. “I can only hope the number stays there ... but we expect the worst has yet to come because the influx has risen,” he told Reuters. Writing By Michele Kambas; Editing by Richard Balmforth

As Greek islands heave under influx, refugees turn to old river route

Total revenue of $62.4 million grew 8% year-over-year CHARLESTON, S.C., May 03, 2018 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT), a leading cloud-based benefits management platform and services provider, today announced its first quarter 2018 financial results. “I am extremely pleased with Benefitfocus’ accelerated financial momentum, as we achieved our key financial goals during the first quarter,” said Ray August, President and Chief Executive Officer of Benefitfocus. “2018 and our selling season are off to a solid start.” August added, “The launch of BenefitsPlace will open new opportunities across our platform and help position Benefitfocus as the technology choice to connect the benefits industry. As we focus on our business strategy, improve our sales execution, and strengthen the core of our operations, we believe our revenue opportunities will continue to expand, along with long-term value for our shareholders.” First Quarter 2018 Financial Highlights The prior periods presented have been adjusted to reflect the adoption of the new ASC 606 revenue recognition standard. Revenue Total revenue was $62.4 million, an increase of 8% compared to the first quarter of 2017. Software services revenue was $48.2 million, an increase of 4% compared to the first quarter of 2017. Professional services revenue was $14.2 million, an increase of 28% compared to the first quarter of 2017. Employer revenue was $40.3 million, an increase of 12% compared to the first quarter of 2017. Insurance carrier revenue was $22.1 million, an increase of 1% compared to the first quarter of 2017. Net Loss GAAP net loss was ($13.8) million, compared to ($15.6) million in the first quarter of 2017. GAAP net loss per share was ($0.44), based on 31.3 million basic and diluted weighted average common shares outstanding, compared to ($0.51) for the first quarter of 2017, based on 30.7 million basic and diluted weighted average common shares outstanding. Non-GAAP Net Loss and Adjusted EBITDA Non-GAAP net loss was ($8.0) million, compared to ($11.1) million in the first quarter of 2017. Non-GAAP net loss per share was ($0.26), based on 31.3 million basic and diluted weighted average common shares outstanding, compared to ($0.36) for the first quarter of 2017, based on 30.7 million basic and diluted weighted average common shares outstanding. Adjusted EBITDA was ($1.0) million, compared to ($4.3) million in the first quarter of 2017. See important disclosures about non-GAAP measures, and a reconciliation of them to GAAP, below. Balance Sheet Cash and cash equivalents at March 31, 2018 totaled $54.8 million, compared to $55.3 million at the end of the fourth quarter of 2017. First Quarter and Recent Business Highlights We ended the quarter with 948 large employer customers, up from 853 at the end of the prior year period, and 920 at the end of the fourth quarter of 2017. We had record attendance at our 8 th annual One Place user conference in Orlando, Florida and announced enhancements to the Benefitfocus Platform. We launched Benefitfocus BenefitsPlace™, a new offering designed to connect the entire U.S. employee benefits industry, uniting brokers, employers, carriers and suppliers on a single platform. BenefitsPlace opens the Benefitfocus platform to create buyer-seller opportunities, provide greater access and choice of benefits, and deliver decision-support tools to consumers for more personalized, informed and hassle-free benefits enrollment and management. We opened a new office in New York City as part of an expansion effort to broaden Benefitfocus’ operations in the key Northeast region of the United States. We published our “State of Employee Benefits 2018 - Regional Edition” report, a snapshot of real, but anonymized employee benefits election data from over 1.2 million consumers. Business Outlook Based on information available as of May 3, 2018, Benefitfocus is providing guidance for the second quarter and full year 2018 as indicated below. Our guidance is based on the new ASC 606 revenue recognition standard that is effective beginning January 1, 2018. Second Quarter 2018: Total revenue is expected to be in the range of $55.5 million to $57.5 million. Non-GAAP net loss is expected to be in the range of ($14.0) million to ($12.0) million, or ($0.44) to ($0.38) per share, based on 31.8 million basic and diluted weighted average common shares outstanding. Adjusted EBITDA is expected to be in the range of ($7.0) million to ($5.0) million. Full Year 2018: Total revenue is expected to be in the range of $250.0 million to $258.0 million. Non-GAAP net loss is expected to be in the range of ($25.0) million to ($17.0) million, or ($0.79) to ($0.54) per share, based on 31.8 million basic and diluted weighted average common shares outstanding. Adjusted EBITDA is expected to be in the range of $5.0 million to $13.0 million. See important disclosures about non-GAAP measures, and a reconciliation of them to GAAP, below. Conference Call Details: In conjunction with this announcement, Benefitfocus will host a conference call today, May 3, 2018, at 5:00 p.m. Eastern Time to discuss the company’s financial results. To access this call, dial (877) 407-9039 (domestic) or (201) 689-8470 (international). A live webcast, as well as the replay, of the conference call will be available on the Investor Relations page of the company’s website at http://investor.benefitfocus.com/ . After the conference call, a replay will be available until May 10, 2018, and can be accessed by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) with passcode 13678853. Investor Presentation Details An investor presentation providing additional information on the ASC 605 to ASC 606 accounting change can be found at http://investor.benefitfocus.com . About Benefitfocus Benefitfocus (NASDAQ:BNFT) provides technology and services that improve the way employers of all sizes manage their benefits investment. Through a combination of powerful cloud-based software, data-driven insights and thoughtfully-designed services, we provide employers, their brokers and insurance carriers with a single partner to deliver a world-class benefits experience. Learn more at www.benefitfocus.com , LinkedIn and Twitter . Non-GAAP Financial Measures The company uses certain non-GAAP financial measures in this release, including non-GAAP gross profit, operating income (loss), net loss, net loss per common share, adjusted EBITDA, and free cash flow. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP gross profit, operating income (loss), net loss and net loss per share exclude stock-based compensation expenses, amortization of acquisition-related intangible assets, offering costs expensed, if any and costs not core to our business, if any. We define adjusted EBITDA as net loss before net interest, taxes, and depreciation and amortization expense, adjusted to eliminate stock-based compensation expense, expense related to the impairment of goodwill and intangible assets, and costs not core to our business. We define free cash flow as cash from operations plus purchases of property and equipment. Please note that other companies might define their non-GAAP financial measures differently than we do. Management presents these non-GAAP financial measures in this release because it considers them to be important supplemental measures of performance. Management uses these non-GAAP financial measures for planning purposes, including analysis of the company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management believes that these non-GAAP financial measures provide additional insight for analysts and investors in evaluating the company's financial and operational performance. Management also intends to provide these non-GAAP financial measures as part of the company’s future earnings discussions and, therefore, their inclusion should provide consistency in the company’s financial reporting. Non-GAAP financial measures have limitations as an analytical tool. Investors are encouraged to review the reconciliation of the non-GAAP measures to their most directly comparable GAAP measures provided in this release, including in the accompanying tables. Safe Harbor Statement Except for historical information, all of the statements, expectations, and assumptions contained in this press release are . Actual results might differ materially from those explicit or implicit in the . Important factors that could cause actual results to differ materially include: our continuing losses and need to achieve GAAP profitability; fluctuations in our financial results; risks related to changing healthcare and other applicable regulations; our ability to maintain our culture, recruit and retain qualified personnel and effectively expand our sales force; cyber-security risks; the immature and volatile market for our products and services; the need to innovate and provide useful products and services; our ability to compete effectively; privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our Investor Relations Department. Benefitfocus assumes no obligation and does not intend to update these , except as required by law. Source: Benefitfocus, Inc. Benefitfocus, Inc. Unaudited Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share data) 2018 2017 Revenue $ 62,363 $ 57,623 Cost of revenue (1)(2) 31,403 32,202 Gross profit 30,960 25,421 Operating expenses: (1)(2) Sales and marketing 19,917 18,023 Research and development 12,023 12,181 General and administrative 9,693 7,757 Total operating expenses 41,633 37,961 Loss from operations (10,673 ) (12,540 ) Other income (expense): Interest income 58 27 Interest expense on building lease financing obligations (1,866 ) (1,860 ) Interest expense on other borrowings (1,317 ) (1,062 ) Other expense – (148 ) Total other expense, net (3,125 ) (3,043 ) Loss before income taxes (13,798 ) (15,583 ) Income tax expense 4 – Net loss $ (13,802 ) $ (15,583 ) Comprehensive loss $ (13,802 ) $ (15,583 ) Net loss per common share: Basic and diluted $ (0.44 ) $ (0.51 ) Weighted-average common shares outstanding: Basic and diluted 31,333,348 30,658,468 (1) Stock-based compensation included in above line items: Cost of revenue $ 711 $ 661 Sales and marketing 954 1,332 Research and development 768 719 General and administrative 1,892 1,676 (2) Amortization of acquired intangible assets included in above line items: Cost of revenue $ 34 $ 36 Sales and marketing 14 13 Research and development 12 12 General and administrative 4 3 Benefitfocus, Inc. Unaudited Consolidated Balance Sheets (in thousands, except share and per share data) As of As of March 31, December 31, 2018 2017 Assets Current assets: Cash and cash equivalents $ 54,785 $ 55,335 Accounts receivable, net 29,678 30,091 Contract, prepaid and other current assets 15,077 15,859 Total current assets 99,540 101,285 Property and equipment, net 71,233 72,681 Intangible assets, net 86 150 Goodwill 1,634 1,634 Deferred contract costs and other non-current assets 15,262 16,253 Total assets $ 187,755 $ 192,003 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 5,557 $ 4,260 Accrued expenses 10,599 9,110 Accrued compensation and benefits 11,288 14,250 Deferred revenue, current portion 36,167 43,804 Revolving line of credit, current portion 24,000 24,000 Financing and capital lease obligations, current portion 3,716 3,423 Total current liabilities 91,327 98,847 Deferred revenue, net of current portion 16,733 11,223 Revolving line of credit, net of current portion 39,246 32,246 Financing and capital lease obligations, net of current portion 55,724 55,597 Other non-current liabilities 2,699 2,809 Total liabilities 205,729 200,722 Commitments and contingencies Stockholders' deficit: Preferred stock, par value $0.001, 5,000,000 shares authorized, – – no shares issued and outstanding at March 31, 2018 and December 31, 2017 Common stock, par value $0.001, 50,000,000 shares authorized, 31 31 31,339,469 and 31,307,989 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 357,043 352,496 Accumulated deficit (375,048 ) (361,246 ) Total stockholders' deficit (17,974 ) (8,719 ) Total liabilities and stockholders' deficit $ 187,755 $ 192,003 Benefitfocus, Inc. Unaudited Consolidated Statements of Cash Flows (in thousands) 2018 2017 Cash flows from operating activities Net loss $ (13,802 ) $ (15,583 ) loss to net cash and cash equivalents used in operating activities: Depreciation and amortization 3,930 4,005 Stock-based compensation expense 4,325 4,388 Interest accrual on financing obligation 1,879 1,873 Loss on disposal or impairment of property and equipment – 148 Provision for doubtful accounts 359 22 Changes in operating assets and liabilities: Accounts receivable, net 54 5,654 Accrued interest on short-term investments – 7 Contract, prepaid and other current assets 881 1,092 Deferred contract costs and other non-current assets 1,166 1,945 Accounts payable and accrued expenses 2,722 (1,039 ) Accrued compensation and benefits (2,962 ) (6,593 ) Deferred revenue (2,127 ) (3,110 ) Other non-current liabilities (108 ) (222 ) Net cash and cash equivalents used in operating activities (3,683 ) (7,413 ) Cash flows from investing activities Proceeds from maturity of short-term investments held to maturity – 2,000 Purchases of property and equipment (1,641 ) (2,103 ) Net cash and cash equivalents used in investing activities (1,641 ) (103 ) Cash flows from financing activities Draws on revolving line of credit 31,000 28,000 Payments on revolving line of credit (24,000 ) (20,000 ) Proceeds from exercises of stock options and ESPP 222 2,454 Payments on financing and capital lease obligations (2,448 ) (2,120 ) Net cash and cash equivalents provided by financing activities 4,774 8,334 Net (decrease) increase in cash and cash equivalents (550 ) 818 Cash and cash equivalents, beginning of period 55,335 56,853 Cash and cash equivalents, end of period $ 54,785 $ 57,671 Supplemental disclosure of non-cash investing and financing activities Property and equipment purchases in accounts payable and accrued expenses $ 452 $ 200 Property and equipment purchased with financing and capital lease obligations $ 713 $ — Post contract support purchased with financing obligations $ 275 $ — Benefitfocus, Inc. Unaudited Reconciliation of GAAP to Non-GAAP Measures (in thousands, except share and per share data) 2018 2017 Reconciliation from Gross Profit to Non-GAAP Gross Profit: Gross profit $ 30,960 $ 25,421 Amortization of acquired intangible assets 34 36 Stock-based compensation expense 711 661 Total net adjustments 745 697 Non-GAAP gross profit $ 31,705 $ 26,118 Reconciliation from Operating Loss to Non-GAAP Operating Income (Loss): Operating loss $ (10,673 ) $ (12,540 ) Amortization of acquired intangible assets 64 64 Stock-based compensation expense 4,325 4,388 Costs not core to our business 1,371 — Total net adjustments 5,760 4,452 Non-GAAP operating income (loss) $ (4,913 ) $ (8,088 ) Reconciliation from Net Loss to Adjusted EBITDA: Net loss $ (13,802 ) $ (15,583 ) Depreciation 2,977 3,110 Amortization of software development costs 889 831 Amortization of acquired intangible assets 64 64 Interest income (58 ) (27 ) Interest expense on building lease financing obligations 1,866 1,860 Interest expense on other borrowings 1,317 1,062 Income tax expense 4 — Stock-based compensation expense 4,325 4,388 Costs not core to our business 1,371 — Total net adjustments 12,755 11,288 Adjusted EBITDA $ (1,047 ) $ (4,295 ) Reconciliation from Net Loss to Non-GAAP Net Loss: Net loss $ (13,802 ) $ (15,583 ) Amortization of acquired intangible assets 64 64 Stock-based compensation expense 4,325 4,388 Costs not core to our business 1,371 — Total net adjustments 5,760 4,452 Non-GAAP net loss $ (8,042 ) $ (11,131 ) Calculation of Non-GAAP Earnings Per Share: Non-GAAP net loss $ (8,042 ) $ (11,131 ) Weighted average shares outstanding - basic and diluted 31,333,348 30,658,468 Shares used in computing non-GAAP net loss per share - basic and 31,333,348 30,658,468 diluted Non-GAAP net loss per common share - basic and diluted $ (0.26 ) $ (0.36 ) Benefitfocus, Inc. Unaudited Reconciliation of GAAP to Non-GAAP Guidance Ranges (in millions, except per share data) Second Quarter 2018 Full Year 2018 Range Range Low High Low High Reconciliation from Net Loss Guidance to Adjusted EBITDA Guidance: Net loss - Guidance range $ (20.1 ) $ (18.1 ) $ (41.5 ) $ (33.5 ) Depreciation and amortization 4.2 4.2 17.8 17.8 Interest income (0.1 ) (0.1 ) (0.2 ) (0.2 ) Interest expense 3.0 3.0 12.7 12.7 Income tax expense — — — — Stock-based compensation expense 5.7 5.7 14.8 14.8 Costs not core to business 0.3 0.3 1.4 1.4 Total net adjustments 13.1 13.1 46.5 46.5 Adjusted EBITDA - Guidance range $ (7.0 ) $ (5.0 ) $ 5.0 $ 13.0 Reconciliation from Net Loss Guidance to Non-GAAP Net Loss Guidance: Net loss - Guidance range $ (20.1 ) $ (18.1 ) $ (41.5 ) $ (33.5 ) Amortization of acquired intangible assets 0.1 0.1 0.3 0.3 Stock-based compensation expense 5.7 5.7 14.8 14.8 Costs not core to business 0.3 0.3 1.4 1.4 Total net adjustments 6.1 6.1 16.5 16.5 Non-GAAP net loss - Guidance range $ (14.0 ) $ (12.0 ) $ (25.0 ) $ (17.0 ) Calculation of Non-GAAP Earnings Per Share Guidance: Non-GAAP net loss - Guidance range $ (14.0 ) $ (12.0 ) $ (25.0 ) $ (17.0 ) Weighted average shares outstanding - basic and diluted 31.8 31.8 31.8 31.8 Shares used in computing non-GAAP 31.8 31.8 31.8 31.8 net loss per share - basic and diluted Non-GAAP net loss per common share - basic and diluted $ (0.44 ) $ (0.38 ) $ (0.79 ) $ (0.54 ) Benefitfocus, Inc. 843-284-1052 ext. 3527 pr@benefitfocus.com Investor Relations: Michael Bauer 843-284-1052 ext. 6654 michael.bauer@benefitfocus.com Source:Benefitfocus, Inc.

Benefitfocus Announces First 2018 Financial Results

May 7, 2018 / 1:06 PM / Updated 8 hours ago Humanist Italian film director Olmi dies Reuters Staff 2 Min Read ROME (Reuters) - Ermanno Olmi, one of Italy’s great post-war directors, who won top awards at both the Cannes and Venice film festivals, has died at the age of 86, his family said on Monday. Director Ermanno Olmi poses at the 69th Venice Film Festival in Venice September 5, 2012. REUTERS/Tony Gentile/Files Olmi was hailed as a humanist moviemaker and a visual poet who once described his own work as being “halfway between the cinema of make believe and the cinema of documentary”. He won the coveted Golden Palm in Cannes in 1978 for “The Tree of Wooden Clogs”, a three-hour depiction of harsh peasant life in 19th century Italy, with a cast of non-professional actors who all spoke in their native, northern Italian Bergamasque dialect. It tells the story of a father who secretly cut down a small tree in order to make clogs so his son could walk to school. When the rich landowner found out, he expelled the family from the farm as an example to other workers. A decade later, he won the Golden Lion at Venice for “The Legend of the Holy Drinker”, which featured well-known actors and followed the tribulations of an alcoholic homeless man in Paris as he sought to repay a debt to a local Church. Working well into old age, Olmi also made “The Profession of Arms”, released in 2001, which depicted the final days of young renaissance soldier Giovanni De Medici, and the 2014 anti-war movie “Greenery Will Bloom Again”. “With Ermanno Olmi, we are losing a cinematic master and a great figure of culture and life. His enchanted vision told us about, and made us understand, the roots of our country,” Prime Minister Paolo Gentiloni wrote on Twitter. Olmi said he was inspired by the Italian neorealism movement, which championed working-class heroes and spurned established stars. He carried its traditions forward long after its popularity as an art form had peaked. Olmi had suffered for many years from a rare autoimmune illness known as Guillain-Barré syndrome. Italian media reported that he was taken to hospital on Friday in his hometown of Asiago and died on Sunday night. Director Ermanno Olmi waves during a photocall for his film Il Villaggio Di Cartone at the 68th Venice Film Festival September 6, 2011. REUTERS/Eric Gaillard/Files Reporting by Crispian Balmer, editing by Larry King

Humanist Italian film director Olmi dies

Judge rules Trump can't block Twitter users Wednesday, May 23, 2018 - 01:30 A federal judge in New York on Wednesday ruled that Trump may not legally block Twitter users because doing so violates their right to free speech under the First Amendment. A federal judge in New York on Wednesday ruled that Trump may not legally block Twitter users because doing so violates their right to free speech under the First Amendment. //reut.rs/2IDrQ4e

Judge rules Trump can't block Twitter users

ROME (Thomson Reuters Foundation) - From Senegalese children killed by lead poisoning to Bengalis dying from arsenic in drinking water, experts called on Wednesday for a new global accord to address emerging health risks posed by millions of contaminated sites. Human activities, such as mining and manufacturing, waste from livestock, industry and urban sprawls, and pesticides and fertilisers are the main pollutants contaminating some 5 million locations globally, said environmental scientist Ravi Naidu. “To remediate all the contaminated sites is humanity’s really next great challenge,” Naidu, who heads the Global Center for Environmental Remediation at the University of Newcastle in Australia, said at the opening of a soil pollution conference. “Earth is now affected by more than 144,000 man-made chemicals ... They not just impact soil, but water, the aquatic system and human health.” Soil pollution is a poorly understood, but growing, problem, experts said, with some countries increasing their pesticide use, while the risks of new pollutants, such as waste from old electronics and plastics, are only just being acknowledged. Clean ups can cost millions of dollars, a huge burden for developing countries, short of both money and manpower to make their soils safe, Naidu told the Thomson Reuters Foundation. The world has only cleaned up about 10 percent of contaminated sites in about half a century, he added, calling for more regulation and a global accord on contaminants, similar to the Paris Agreement to combat climate change. Without a systematic global assessment of soil pollution, it is hard for nations to understand the scale and severity of the threat, the United Nations’ Food and Agriculture Organization (FAO) said. “We know it’s a problem but it has been difficult to quantify,” said Marco Martuzzi, an environmental expert with the World Health Organization, which is assessing the health impacts of landfills in Europe. “When we have acute effects like children dying and contamination that goes through the food chain ... It’s not an acceptable situation.” Reporting by Thin Lei Win. Editing by Katy Migiro. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, property rights, climate change and resilience. Visit news.trust.org

Cleaning up polluted soil is 'humanity's next great challenge'

May 9 (Reuters) - TransAtlantic Petroleum Ltd: * TRANSATLANTIC PETROLEUM ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS AND PROVIDES AN OPERATIONS UPDATE * Q1 REVENUE $16.9 MILLION VERSUS $16.4 MILLION * EXPECTS TO RESUME PRODUCTION OPERATIONS ON ITS YILDURM-1 WELL ON TEMREZ LICENSE IN 2018 * MAY COMMENCE A THREE-WELL DRILLING PROGRAM ON ITS TEMREZ LICENSE STARTING IN Q4 OF 2018 * TRANSATLANTIC PETROLEUM - AVERAGE DAILY NET SALES VOLUMES FROM CONTINUING OPERATIONS WERE ABOUT 2,885 BOE PER DAY IN Q1, VERSUS 2,799 BOEPD IN Q4 OF 2017 * PREVIOUSLY ANNOUNCED MARKETING PROCESS IS ONGOING, AND COMPANY EXPECTS TO RECEIVE INDICATIONS OF INTEREST DURING Q2 * DECIDED NOT TO HOLD AN EARNINGS CALL TO DISCUSS ITS RESULTS FOR Q1 OF 2018 Source text for Eikon: Further company coverage:

BRIEF-TransAtlantic Petroleum Reports Q1 Loss Per Share $0.04 From Continuing Operations

increase@ * Brent, WTI hover near multi-week lows * Expectations of higher Saudi, Russian output weigh on prices * Brent/WTI spread widens to lowest since March 2015 (Updates prices) SEOUL, May 29 (Reuters) - Oil prices were mixed in Asian trading on Tuesday, but remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply. Brent crude futures were up 21 cents, or 0.28 percent, at $75.51 a barrel at 0635 GMT, after settling at their lowest since May 8 at $75.30. U.S. West Texas Intermediate (WTI) crude was down $1.11, or 1.64 percent, at $66.77 a barrel, sitting around its lowest since April 17. "Investors have started pricing in the likelihood of Saudi Arabia and Russia increasing crude oil production," ANZ Bank said in a note. "However, doubt remains, with any agreement to be finalized at the June OPEC meeting." Concerns that Saudi Arabia and Russia could boost output have put downward pressures on oil prices, along with rising oil production in the United States. Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by some 1 million barrels per day to make up potential supply shortfalls from Venezuela and Iran. The Organization of the Petroleum Exporting Countries (OPEC) is due to meet in Vienna on June 22. The spread between Brent and WTI <CL-LCO1=R> stands at around $8.7 a barrel, the widest since March 2015 due to the depressed price of U.S. crude compared to Brent. "The way I see it is that WTI prices are stabilizing rather than falling after rising sharply in recent weeks because the prices were expected to be in the range of $55-$65 a barrel," said Vincent Hwang, commodity analyst at NH Investment & Securities in Seoul. "But at the same time there are some worries over a fall in U.S. oil demand if more Middle East crude supplies flow into the market," Hwang said. Meanwhile, record crude oil volumes from the United States are expected to head to Asia in coming months, nibbling away the market share of OPEC and Russia. U.S. oil production C-OUT-T-EIA> has surged by more than 27 percent in the last two years to 10.73 million barrels per day (bpd). That puts the United States ahead of top exporter Saudi Arabia, and only Russia pumps out more, at around 11 million bpd. (Reporting by Jane Chung Editing by Joseph Radford)

Oil prices mixed, but pressure builds on expected crude output increase

Earnings season is in full swing, with a little over half of S&P 500 companies having reported quarterly earnings, and the options market is implying meaningful moves for several stocks this week. Stacey Gilbert, head of derivative strategy at Susquehanna, is focusing in on three technology names reporting this week: Grubhub , Snap and Spotify . Here's why she's watching. • Grubhub , scheduled to report earnings Tuesday before the market opens, is set to see a swing of around 11 percent in either direction. This is a smaller move than it's had from past reports, suggesting the market is not pricing in as much risk as in prior quarters. The sentiment, meanwhile, is a bit more cautious this quarter. Last quarter , the shares surged a whopping 27 percent on the heels of its earnings report. • Snapchat parent Snap is expected to see a move of roughly 15 percent on its report Tuesday after the market closes. This is, too, a smaller move than the stock has seen in reports past . Some investors are buying protective put options ahead of earnings; the stock has fallen nearly 2 percent this year. • Spotify , shares of which debuted in early April on the New York Stock Exchange, is set to report earnings Wednesday after the market closes. The stock is expected to move about 8 percent after its first earnings report after going public. Bottom line: Shares of Grubhub, Snap and Spotify are expected to see relatively significant moves on earnings this week. Vote Vote to see results Total Votes: Not a Scientific Survey. Results may not total 100% due to rounding. Disclaimer

Food, photos and music: These top millennial stocks could see huge moves on earnings this week

(Updates yields; adds analyst comments, auction results) NEW YORK, May 10 (Reuters) - Longer-dated U.S. Treasury yields fell on Thursday, flattening the yield curve as a smaller-than-expected increase in the consumer price index in April reduced fears that domestic inflation is picking up steam as the labor market tightens. The 10-year Treasury yield fell to a session low of 2.948 percent after having broken through the psychologically significant level of 3 percent on Wednesday. The two-year yield, which is particularly sensitive to market sentiment about interest-rate hikes, was up from late Wednesday, suggesting traders did not believe CPI data was sufficiently weak to derail the planned rate hike in June. "I think June is pretty much 100 percent baked in and so that's what we're seeing particularly in the short term," said Paula Solanes, portfolio manager at Silicon Valley Bank Asset Management in San Francisco. The overall effect was a flattening of the yield curve, in which shorter-dated yields rise faster than those at the long end. The spread between five- and 30-year yields fell to a session low of 28.3 basis points, near the post-financial crisis trough reached on April 30. The Labor Department reported its consumer price index rose 0.2 percent in April after slipping 0.1 percent in March. Excluding the volatile food and energy components, the CPI edged up 0.1 percent after two straight monthly increases of 0.2 percent. The so-called core CPI rose 2.1 percent year-on-year in April, matching March's increase. Core inflation remains low because wages have not risen substantially even with jobless claims near a 48-year low. Real average hourly earnings were flat in April, and rose just 0.2 percent year over year, the Labor Department also reported on Thursday. Some analysts remained nonplussed. "We think this is a temporary aberration," said Candice Bangsund, vice president and portfolio manager, global asset allocation at Fiera Capital Corporation in Montreal. "At a time when the economy is operating at full employment, this will inevitably place upward pressure on wages." Also pressuring the long end of the curve was the strong demand for $17 billion of new supply of 30-year bonds auctioned on Thursday afternoon. The bonds sold at a yield of 3.130 percent, the highest for this maturity at an auction since March 2017, Treasury data showed. The yield on benchmark 10-year Treasury notes was 2.970 percent, down 3.4 basis points from late Wednesday. The 30-year yield was 3.119 percent, down 3.5 basis points, while the two-year yield was last at 2.534 percent, less than a basis point above late Wednesday. May 10 Thursday 3:55PM New York / 1955 GMT Price US T BONDS JUN8 143-6/32 0-17/32 10YR TNotes JUN8 119-100/256 0-32/256 Price Current Net Yield % Change (bps) Three-month bills 1.86 1.8946 0.010 Six-month bills 2.0025 2.051 -0.010 Two-year note 99-178/256 2.5343 0.004 Three-year note 99-212/256 2.685 0.000 Five-year note 99-160/256 2.8313 -0.007 Seven-year note 99-152/256 2.9398 -0.017 10-year note 99-48/256 2.9695 -0.025 30-year bond 97-188/256 3.1172 -0.037 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 24.25 -0.50 spread U.S. 3-year dollar swap 19.00 -0.75 spread U.S. 5-year dollar swap 11.00 -0.50 spread U.S. 10-year dollar swap 4.25 1.50 spread U.S. 30-year dollar swap -8.75 1.75 spread (Reporting by Kate Duguid and Richard Leong; Editing by David Gregorio)

TREASURIES-Long-dated yields fall, curve flattens after muted inflation data

FDA adds Mylan's EpiPen to shortage list 8:40pm IST - 01:04 The move by U.S. regulators to add EpiPen to the drug shortage list came on the same day Mylan's quarterly revenue disappointed Wall Street. Fred Katayama reports. The move by U.S. regulators to add EpiPen to the drug shortage list came on the same day Mylan's quarterly revenue disappointed Wall Street. Fred Katayama reports. //reut.rs/2KMu3Ic

FDA adds Mylan's EpiPen to shortage list

Jack Dorsey had a $700 million month Three years ago, Wall Street was highly skeptical of Dorsey's ability to be CEO of two companies. Square and Twitter have had big years and both generated handsome returns for investors in May. Dorsey's net worth jumped by more than $700 million in the month. Jack Dorsey attends the '#SheInspiresMe: Twitter celebrates female voices & visionaries' event in Cannes, France. It's been quite a month for @Jack. Twitter , which Jack Dorsey co-founded in 2006, has jumped 14 percent in May, a month in which the S&P 500 has gained just 2.6 percent. Square , the payments company that Dorsey launched three years later, has performed even better, surging nearly 24 percent for the month to a record $58.90 as of Thursday morning. Dorsey has been as much a beneficiary as anyone. His stake in Square has jumped by $668 million this month, and his Twitter shares have appreciated by $65 million. As May comes to an end, Square is worth $23.6 billion, not far behind Twitter's $26 billion stock market value. After years of skepticism, Wall Street has apparently come around to the idea of the 41-year-old Dorsey running two publicly traded companies at the same time. When Dorsey took over Twitter from Dick Costolo in 2015, it was supposed to be temporary. At the time, Dorsey had his hands full with Square, which was preparing for its stock market debut and was having trouble justifying its private market valuation to prospective investors. Twitter's board couldn't agree on anyone else, so Dorsey was given the full-time gig at Twitter just a month before Square's IPO. Analysts were relieved to see the process come to an end, but had plenty of concerns. "As a product guy, Dorsey is a good fit, although we thought an outsider was the best option," wrote Evan Wilson of Pacific Crest Securities. Analysts at JMP Securities wrote that, "While it remains to be seen how well new CEO Dorsey can manage both Twitter and Square, we believe he will be most focused on Twitter's product and making it easy to use." Investors who stuck with Dorsey have made a bunch of money, particularly in the past year. Twitter shares have climbed 88 percent over the last 12 months, outperforming all of the most valuable tech companies. Over that same stretch, Square is up 154 percent. Twitter was catapulted recently by a better-than-expected earnings report . In late April, Twitter recorded its second straight profitable quarter, with earnings and revenue that beat analysts' estimates. Video ads were a big driver of sales growth, and the company also lured advertisers internationally, especially from China and Japan. show chapters 3 Hours Ago | 02:17 Square issued a disappointing earnings forecast after the bell on May 2, but the shares went up the next day anyway. Heading into Thursday, Square's stock had gained on 16 of the 20 trading days in the month, one more than Twitter. Gross payment volume increased 31 percent to $17.8 billion in the fiscal first quarter, as merchants continued to shift from older payment systems to Square's modernized point-of-sale terminals. "SQ has the Big MO (Momentum)," Joseph Foresi, an analyst at Cantor Fitzgerald, titled a report after the company's results. "We expect rapid growth to continue and foresee further margin expansion going forward, driving stock performance," he wrote. Ari Levy Senior Tech Reporter Related Securities

Jack Dorsey had a $700 million month

May 18 (Reuters) - Edison International: * EDISON INTERNATIONAL SAYS ON MAY 17, ENTERED INTO SECOND AMENDED AND RESTATED CREDIT AGREEMENT FOR $1.5 BILLION REVOLVING CREDIT FACILITY - SEC FILING * EDISON INTERNATIONAL - ALSO, SOUTHERN CALIFORNIA EDISON CO ENTERED SECOND AMENDED & RESTATED CREDIT AGREEMENT FOR $3.0 BILLION REVOLVING CREDIT FACILITY Source bit.ly/2wSiZWV Further company coverage:

Edison International Says On May 17, Entered Into Second Amended For $1.5 Bln Credit Facility

May 2 (Reuters) - Italian car sales: * ITALY CAR SALES UP 6.47 PERCENT IN APRIL - TRANSPORT MINISTRY * FIAT CHRYSLER’S SHARE OF ITALIAN CAR MARKET AT 26.94 PERCENT IN APRIL - REUTERS CALCULATIONS Further company coverage: (Reporting by Milan newsroom)

BRIEF-Italy car sales rise 6.47 pct in April

WASHINGTON (Reuters) - The United States has raised concerns with China about its latest militarization of the South China Sea and there will be near-term and long-term consequences for the action, the White House said on Thursday. U.S. news network CNBC reported on Wednesday that China had installed anti-ship cruise missiles and surface-to-air missile systems on three of its outposts in the South China Sea. It cited sources with direct knowledge of U.S. intelligence. Asked about the report, White House spokeswoman Sarah Sanders told a regular news briefing: “We’re well aware of China’s militarization of the South China Sea. We’ve raised concerns directly with the Chinese about this and there will be near-term and long-term consequences.” Reporting by David Brunnstrom and Matt Spetalnick; Editing by James Dalgleish

U.S. says will be consequences for China's South China Sea militarization

0 COMMENTS The grave marker of F. Scott Fitzgerald and his wife, Zelda Fitzgerald is seen at St. Mary's Church Cemetery May 9, 2013 in Rockville, MD. Photo: Matt McClain / Associated Press Every week, CIO Journal offers a glimpse into the mind of the CEO, whose view of technology is shaped by stories in management journals, general interest magazines and, of course, in-flight publications. Introducing the F. Scott Fitzgerald test for AI. Quartz’s Paul Sonderegger says he found the perfect test for artificial intellegence from some lines written by F. Scott Fitzgerald in 1936: “The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function.” Mr. Fitzgerald ended up failing the test, washing out in Hollywood. And much of today’s AI may be heading along the same path, minus the martinis. “They offer a cheap imitation of a life well-lived, but only from a narrow perspective,” Mr. Sonderegger writes. “They are unable to hold two opposing thoughts at once, instead needing to exist in a state where decisions are made with one model or another, but not debate between the two.” Bill Gates has your summer reading. Hide that copy of Vanity Fair you saved for the beach. Here comes the Microsoft Corp . co-founder with a ton–literally a ton– of summer beach reads , including “Leonardo da Vinci”, by Walter Isaacson and “Origin Story: A Big History of Everything,” by David Christian, “which tells the story of the universe from the big bang to today’s complex societies, weaving together insights and evidence from various disciplines into a single narrative.” Looks like it’s going to be another summer spent indoors. Face-fashion must-have for open-office alpha-dogs. Funny how most stories on the deconstructed, espresso-machine-outfitted, zeppelin-hanger-sized open office plan fail to mention the cacophony of noise from employees yammering on their iPhones. Introducing Bloxvox, a new “voice privacy tool” worn on the face that lets employees carry on conversations without annoying everyone else. The muzzle-like design may take some getting used to. “Yes, it sounds weird, and I’m not going to spend any more time explaining it,” David Carnoy writes in CNet . “However, I will point out that there’s a little air hole in the front that allows you to breathe and have some air circulate in the muzzle.” Share this: ARTIFICIAL INTELLIGENCE BILL GATES Previous Human-Machine Work Teams: The Promise and Today's Reality

What Your CEO Is Reading: F. Scott Fitzgerald Meets AI; Bill Gates on Summer Reading; Muzzle Your Open Office Phone Call

May 16, 2018 / 10:16 AM / Updated 14 minutes ago Volkswagen trucks CFO quits for personal reasons, no successor yet Reuters Staff 1 Min Read BERLIN (Reuters) - The finance chief of Volkswagen’s ( VOWG_p.DE ) truck and bus division has resigned from his position for personal reasons, a spokeswoman said on Wednesday. FILE PHOTO: Rear view of the 2019 Volkswagen Atlas pickup truck as it is presented at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 28, 2018. REUTERS/Shannon Stapleton Matthias Gruendler, CFO of VW’s trucks arm which combines the MAN and Scania brands and a Brazil-based commercial vehicles business, has already been released from his duties, the spokeswoman said, adding that a successor has not yet been found. Volkswagen has said it could list its trucks business as part of expansion plans for the division, or issue debt. U.S. trucks peer Navistar International Corp ( NAV.N ) said in a public filing last Friday that Gruendler planned to resign from the firm’s board of directors, adding that his decision to quit was not related to any disagreement with his employer over strategy or operations. Reporting by Andreas Cremer; Editing by Maria Sheahan

Volkswagen trucks CFO quits for personal reasons, no successor yet

May 7 (Reuters) - Assembly Biosciences Inc: * ASSEMBLY BIOSCIENCES ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS * Q1 LOSS PER SHARE $0.80 * Q1 EARNINGS PER SHARE VIEW $-0.76 — THOMSON REUTERS I/B/E/S * QTRLY REVENUES CONSISTING OF REVENUE FROM COLLABORATIVE RESEARCH WERE ABOUT $3.6 MILLION VERSUS ABOUT $0.7 MILLION Source text for Eikon: Our

Assembly Biosciences Q1 Loss Per Share $0.80

(Reuters) - American Equity Investment Life Holding Co ( AEL.N ), a U.S. provider of annuities and life insurance products, is exploring a sale after it attracted takeover interest, people familiar with the matter said on Tuesday. The West Des Moines, Iowa-based company, which sells fixed index and fixed rate annuity products, is working with an investment bank as it discusses a potential sale with interested suitors, the sources said. Reinsurance firms, such as Athene Holding Ltd ( ATH.N ), and annuities and life insurance providers, such as Fidelity & Guaranty Life Holdings, could be among those expressing an interest in an acquisition of American Equity, the sources added. The sources cautioned that no deal is certain and asked not to be identified because the matter is confidential. American Equity, Athene and Fidelity & Guaranty Life did not immediately respond to requests for comment. Reporting by David French in New York; Editing by Nick Zieminski

Exclusive: U.S. insurer American Equity explores sale - sources

Caleb Smith pitched 5 2/3 innings of scoreless ball as the Miami Marlins defeated the host Cincinnati Reds 6-0 on Saturday night at the Great American Ball Park. Starlin Castro and Justin Bour hit home runs to lead Miami’s offense. Castro’s blast was his 100th career home run, and he finished the night with three RBIs. Castro’s first career homer was also at Great American Ball Park. It came on May 7, 2010, when he was a member of the Chicago Cubs. Smith (2-3) allowed just three hits and one walk, striking out seven and dropping his ERA to 3.67. In his past three starts, Smith has struck out 26 batters and walked just two, allowing two runs in 18 2/3 innings. Miami relievers Drew Steckenrider, Kyle Barraclough and Brad Ziegler completed the shutout. Cincinnati right-hander Tyler Mahle (2-4) took the loss despite pitching a quality start. He allowed five hits, no walks and three runs in six innings, striking out four. Mahle got into trouble almost immediately. He gave up a one-out single to Martin Prado in the first inning, followed by Castro’s homer to left-center on a high, 86-mph slider. It was Castro’s first homer of the season and his first as a member of the Marlins. Castro had been stuck on 99 homers for 145 at-bats, dating to last Sept. 27, when he was a member of the New York Yankees. When he finally got to 100, his Marlins teammates playfully gave him the silent treatment in the dugout. Bour took Mahle deep in the sixth, hitting a 96-mph fastball to center. It was Bour’s sixth homer this season and his second in the past four games. All the runs in this weekend series had been scored on home runs until the Marlins pieced together a three-run eighth inning. Pinch hitter JB Shuck singled, advanced to second when JT Realmuto was hit by a pitch and scored on Castro’s double to left. Rookie Brian Anderson capped the rally with a two-run, opposite-field single to right. —Field Level Media

Four Marlins pitchers blank Reds, 6-0

China could make 'marginal concessions' on trade to the US: Professor 14 Hours Ago Pushan Dutt of INSEAD says Beijing is unlikely to make any big concessions on trade with the U.S. due to the former's "Made in China 2025" strategy.

China could make 'marginal concessions' on trade to the US: Professor

Ft. Lauderdale, FL. , May 01, 2018 (GLOBE NEWSWIRE) -- Cardiff Lexington Corporation (OTCQB: CDIX) and Red Rock Travel Group, (Private: Red Rock Travel) announced today they have signed a definitive merger agreement under which Red Rock Travel will merge into Cardiff Lexington Corporation as its subsidiary in an all-stock transaction. This merger provides Cardiff Lexington further entry into the online/offline marketing space. Red Rock has developed lead generation proprietary software for timeshare and vacation club industries. Red Rock currently has a 2018 revenue run-rate of $2.16 million with an estimated $648k EBITDA. Headquartered in Orlando, FL, with locations with an additional two call centers, and a experience top-notch staff. The Company has little debt with rapid growth. “Red Rock is the first three new pending acquisitions in 2018 to the Cardiff Lexington portfolio and offers unique synergies in a robust marketing industry. We are ecstatic about this synergistic new acquisition,” stated Alex Cunningham, President/Chief Executive Officer of Cardiff Lexington. "As we promised to our shareholders, Cardiff Lexington over the long-term stays engaged in sourcing, evaluating, and acquiring well-managed, highly-profitable niche companies with little-to-no debt. This acquisition further enhances our ability to attract technology leaders within this ever-growing industry insuring us a strong revenue stream, improving profitability and increasing shareholder value.” Red Rock Travel Group ( http://www.RedRockTravelGroup.com ) is the leading provider of timeshare and travel club leads in the country. They have physical kiosks in strategic locations offering discounted theme park tickets, highly discounted travel, and engage in significant online, media, and offline advertising that directs traffic to online websites or to their state-of-the-art call center. One of their online lead generation websites is http://www.MyFloridaGetaway.com/ . Founder and CEO, Jay Jahid, has been at the highest level of lead generation for the timeshare industry for decades having generated hundreds of thousands of tours and being the go-to marketing expert for the largest names in the industry. Red Rock also has proprietary in-house technology that serves as the powerful data segmentation platform available and can be used to serve multiple industries for a variety of purposes beyond the lead generation industry. Timeshare Industry Highlights (travel club industry not included): · The timeshare industry alone did $8.6 billion in 2015 · 9.2 Million—Number of U.S. Households That Own 1 or More Types of Product · $79.5 Billion—Contribution to U.S. Economy. About Cardiff Lexington Corporation: Cardiff Lexington is a public holding company, much like a cooperative, leveraging proven management in private companies that become subsidiaries. Our focus is not industry or geographic-specific, but rather proven management, market, and margin. Cardiff Lexington targets acquisitions of mature, high growth, niche companies. Cardiff Lexington's strategy identifies and empowers select income-producing middle market private businesses, technology companies and commercial real estate properties. Cardiff Lexington provides these companies both 1) the enhanced ability to raise money for operations or expansion, and 2) an equity exit and liquidity strategy for the owner, heirs, and/or Investors. For investors, Cardiff Lexington provides a diversified lower risk to protect and safely enhance their investment by continually adding assets and holdings. Cardiff Lexington is led by strong and talented team of executives and advisors providing expert acquisition, market guidance and added value for subsidiaries and investors. FORWARD LOOKING STATEMENT: This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. These risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur. Contact: Cardiff Lexington Corporation Investor Relations 844-628-2100 ext. 705 investorrelations@cardifflexington.com Source:Cardiff Lexington Corporation

Cardiff Lexington Corporation Acquires Red Rock Travel Group

LONDON (Reuters) - Prime Minister Theresa May is disappointed by a series of defeats in Britain’s upper house of parliament over her plans to leave the European Union, her spokesman said on Wednesday. Britain's Prime Minister Theresa May leaves 10 Downing Street, in London, May 8, 2018. REUTERS/Hannah McKay The House of Lords voted against her plans to leave the European Union’s single market after Brexit and voted to strip out the fixed timing for Britain to leave the EU in March next year. [nL8N1SF6WI] “We are disappointed by the votes last night ... the legislation is intended to deliver the smooth Brexit which is in the interests of everybody in the UK,” the spokesman said. “We will not accept attempts to use this legislation to stop us taking back control of our money, our laws and our borders.” Reporting By Elizabeth Piper. Editing by Andrew MacAskill

UK government disappointed by Lords votes on Brexit laws: May's spokesman

May 27, 2018 / 2:36 AM / in 15 hours Major League Baseball notebook: Cubs' Darvish headed back to DL Reuters Staff 6 Min Read The Chicago Cubs placed right-hander Yu Darvish on the 10-day disabled list for the second time this month on Saturday, this time as the result of right triceps tendinitis. May 20, 2018; Cincinnati, OH, USA; Chicago Cubs starting pitcher Yu Darvish throws against the Cincinnati Reds during the first inning at Great American Ball Park. Mandatory Credit: David Kohl-USA TODAY Sports The move is retroactive to May 23. Left-hander Randy Rosario was recalled from Triple-A Iowa in a corresponding move. Tyler Chatwood will move up a day to take Darvish’s scheduled turn in the rotation Sunday, with Monday’s starter in Pittsburgh to be determined. Darvish was placed on the DL on May 7 due to a bout with the flu. He returned May 15 to pitch four innings against the Atlanta Braves before allowing just one run in six innings and picking up his first win of the season against the Cincinnati Reds last Sunday. Darvish, 31, has mostly struggled this season after signing a six-year, $126 million deal with the Cubs late in the offseason. He has a 1-3 record and a 4.95 ERA in eight starts. —The St. Louis Cardinals placed relief pitcher Greg Holland on the 10-day disabled list with right hip impingement in the midst of the three-time All-Star’s career-worst season. Holland, 32, is 0-2 with a 9.45 ERA in 18 appearances a season removed from finishing 2017 tied for a National League-best 41 saves while with the Colorado Rockies. The right-hander, who saved 40 or more games three times in his past four seasons entering this year, has seen his ERA nearly double by allowing two runs in each of his last four outings. The eight-year veteran signed a one-year, $14 million deal this offseason to join the Cardinals after spending an All-Star season with the Rockies in 2017. To take Holland’s place on the roster, the Cardinals reinstated left-hander Tyler Lyons from the DL. The team also reinstated catcher Carson Kelly (hamstring) from the DL on Saturday and sent Steven Baron to Triple-A Memphis in a corresponding move. — Cleveland Indians left-handed reliever Andrew Miller, suffering from inflammation in his right knee, was placed on the 10-day disabled list. The two-time All-Star Miller, who turned 33 on Monday, was placed on the DL twice last season because of patellar tendinitis in that same knee. To fill Miller’s spot, Cleveland recalled right-hander Evan Marshall from Triple-A Columbus. Per MLB.com, Indians manager Terry Francona told reporters that Miller’s knee has given the lefty trouble “the entire time” this season. The 13-year veteran has not been himself in 2018, with an ERA almost three runs higher (4.40) than his 2016 (1.45) and 2017 (1.44) campaigns, which both earned Miller All-Star recognition. —The Miami Marlins placed veteran third baseman Martin Prado on the 10-day disabled list with a strained left hamstring, the team announced. The 34-year-old Prado suffered the injury on Friday while running out a grounder against the Washington Nationals. The injury comes after Prado missed the first four weeks of the season due to a knee injury. He is batting just .194 in 24 games. Miami manager Don Mattingly suggested that Prado could be sidelined for an extended period. The Marlins recalled infielder J.T. Riddle from Triple-A New Orleans to fill the roster spot. —The Colorado Rockies recalled infielder Ryan McMahon, who batting seventh and started at second base against the Cincinnati Reds. McMahon, 23, is back with the Rockies after making the team’s Opening Day roster. He struggled to begin the season, hitting .180 in his first 50 at-bats before being optioned to Albuquerque at the start of this month. With Albuquerque, McMahon, who is regarded as one of the team’s top prospects, hit .253 with three home runs and 16 RBIs. To make room for McMahon on the roster, infielder Pat Valaika was optioned to Triple-A Albuquerque. The Rockies’ everyday second baseman, DJ LeMahieu, is on the disabled list with a left thumb sprain. —The Oakland Athletics placed right-handed reliever Santiago Casilla on the 10-day disabled list with a strained right shoulder, the team announced. Casilla left Friday’s game against the Arizona Diamondbacks with a trainer after recording two outs in the eighth inning. He told reporters through an interpreter that his shoulder had been “a little bit tight” as he was getting loose, and that it feels similar to something that bothered him during spring training. Casilla, 37, has posted a 3.32 ERA through 21 2/3 innings of work this season, allowing 11 hits and 14 walks while striking out 14. The A’s also optioned right-handed pitcher Josh Lucas to Triple-A Nashville and recalled right-handers Chris Bassitt and Carlos Ramirez from the same affiliate. —The Pittsburgh Pirates activated center fielder Starling Marte from the disabled list prior to the game against the St. Louis Cardinals. Marte has been sidelined since suffering an oblique strain on May 15. Instead of optioning prized outfield prospect Austin Meadows back to the minors, Pittsburgh instead demoted first baseman Jose Osuna. Meadows entered the day batting .448 with three homers and five RBIs in 29 at-bats during his initial big league stint. He was recalled when Marte went on the DL. Pirates manager Clint Hurdle told reporters that Meadows will be the team’s fourth outfielder and will see time at all three positions. Meadows didn’t start against the Cardinals. He was the ninth overall pick in the 2013 draft. —Field Level Media

Major League Baseball notebook: Cubs' Darvish headed back to DL

The United Arab Emirates (UAE) is gearing up to help meet a growing demand for aircraft with air travel expected to rise exponentially in the coming years. "The forecast we've seen is the world will require around 35,000 aircraft over the next 20 to 25 years," Ismail Ali Abdulla, the CEO of Emirati aerospace firm Strata Manufacturing, told CNBC's Hadley Gamble at the Global Aerospace Summit in Abu Dhabi. " That's a huge number and we want to make sure that Strata is ready to manufacture and deliver." Strata is an aerostructures manufacturing plant wholly owned by Mubadala, the UAE's $127 billion national wealth fund and investment vehicle aimed at diversifying Abu Dhabi's economy. Its CEO wants to position the company as greater part of the international supply chain for major aircraft makers. The country of 10 million is home to more than 200 nationalities and only 10 percent Emirati citizens, making it a challenge to fill high-skilled jobs with homegrown talent. As part of its diversification drive, some companies in the UAE are pursuing skills development for Emiratis — and Strata puts a particular emphasis on its commitment to raising the proportion of women in the workforce. Karim Sahib | AFP | Getty Images United Arab Emirates' Air Force Aerobatic Team performs with an Emirates Airline Airbus A380 at the Dubai Airshow on November 18, 2013, in Dubai. "Females represent 48 percent of our total workforces, out of which 96 percent are UAE nationals," Abdulla said. "Early on we understood the importance of building a sustainable activity here in the UAE, we concentrated on developing UAE nationals." That involved teaming up with UAE University, he said, adding that half of Strata's supervisors and half of its team leaders are UAE national females. Across the Middle East and North Africa, female labor force participation is 26 percent, well below the 39 percent rate of lower and middle income countries. In terms of becoming a major player in global aerospace manufacturing, the small state has some way to go — it doesn't yet crack the top 30 aerospace exporters by country, coming in at number 38 with 0.11 percent of the world total in 2017, according to the CIA World Factbook. But the CEO is optimistic, banking on the expectation that the aerospace industry has plenty of room to grow. He described his company's $7.5 billion worth of commitments with major international original equipment manufacturers (OEMs), as well as existing supply partnerships with industry leaders Boeing, Airbus and Leonardo. "Last year we were able to deliver more than 9,500 parts, and today there are around 8 percent of worldwide fleets flying with parts made here in the UAE," he said, adding that Strata signed two major deals during the summit, including a new manufacturing deal with Boeing.

Aerospace CEO sees growing global role for the UAE in manufacturing

May 2 (Reuters) - Prime Media Group Ltd: * EXPECTS ITS CORE NET PROFIT AFTER TAX FOR YEAR TO 30 JUNE 2018 TO BE BETWEEN $24.3 MILLION AND $25.3 MILLION * TOTAL ADVERTISING REVENUE FOR FY-TO-DATE TO 30 APRIL , INCLUSIVE OF COMMONWEALTH GAMES BROADCAST, HAS DECLINED 8.9 PERCENT Source text for Eikon: Further company coverage:

BRIEF-Prime Media Group Provides Trading Update

May 18, 2018 / 11:58 AM / Updated 23 minutes ago Paddy Power Betfair welcomes UK decision, says preparing for U.S. expansion Reuters Staff 3 Min Read DUBLIN (Reuters) - Paddy Power Betfair ( PPB.I ) welcomed the British government’s decision to reduce the maximum stake on fixed odds betting terminals to two pounds as the issue had become a lightning rod for the industry, CEO Peter Jackson said on Friday. FILE PHOTO: A man sits at a fixed odds betting terminal in a betting shop in London, Britain, October 31, 2017. REUTERS/Peter Nicholls/File Photo Britain will cut the maximum stake on fixed-odds betting terminals to just two pounds to try to tackle problem gambling. The terminals currently allow gamblers in high street shops to bet up to 100 pounds ($135) every 20 seconds on games such as roulette, which can lead to players losing large sums very quickly. “We wanted to see the limit come in at 10 pounds, but we’re really pleased we got some resolution. There was an indication that there might be a change in some of the tax rates associated with the sector but it’s very hard to speculate on what that might mean at this stage,” Jackson told reporters. “We just need to know when it will be implemented because that is the other uncertainty.” Paddy Power Betfair’s welcome for the move contrasts with the reaction of rival William Hill ( WMH.L ), whose CEO Philip Bowcock said on Thursday that the British government had handed the company “a tough challenge”. Paddy Power Betfair said on Thursday that the new stake limit would have had a 35-46 million pound impact on revenue in 2017, representing 2 to 2.6 percent of group revenue. Gambling companies — most of which run internet as well as high street businesses — face a two-way squeeze as the British government plans to increase a duty on online gambling to offset the loss of income from the cut in the stake. A U.S. Supreme Court ruling on Monday paved the way for states to legalize sports gambling after it struck down a 1992 federal law that had barred gambling in most places. The Dublin-based company said this week it was in talks about possibly merging its U.S. business with fantasy sports company FanDuel to target the U.S. sports betting market. The CEO would not be drawn on the discussions but said the company was preparing to expand its U.S. operations, and that he “likes the hand we’ve got”. “We already operate a very large horse racing business in the U.S. We have 10 percent market share of the entire horse racing market, and if you look at the online market our share is much higher than that. More like a third or so,” he said. “We know how the legislation works on a state-by-state basis. We are fully licensed by the New Jersey Department of Gaming Enforcement, and we think it will be relatively straightforward to receive our operating license to take sports betting and we are making preparations to enter that market.” “New Jersey will be live with businesses taking bets in advance of the NFL season which starts in September, and there are a number of other states ready to follow on soon after.” Reporting by Graham Fahy; Editing by Adrian Croft

Paddy Power Betfair pushes ahead with U.S. expansion

James Neal scored the tiebreaking goal and assisted on the eventual game-winner in a stretch of less than three minutes in the second period Wednesday night as the Vegas Golden Knights dumped the Winnipeg Jets 4-2 in Game 3 of the Western Conference Finals. May 16, 2018; Las Vegas, NV, USA; Vegas Golden Knights left wing James Neal (18) scores a goal past Winnipeg Jets goalie Connor Hellebuyck (37) during the second period in game three of the Western Conference Final of the 2018 Stanley Cup Playoffs at T-Mobile Arena. Mandatory Credit: Kirby Lee-USA TODAY Sports The result gives Vegas a 2-1 lead in the best-of-seven series. Game 4 is Friday night at T-Mobile Arena in Las Vegas, where the Golden Knights can close within a game of being the first expansion team since the 1967-68 St. Louis Blues to reach the Stanley Cup Final. “I thought in Game 1 we weren’t good enough, but I thought we were a little better in Game 2 and we were better tonight,” Vegas winger Erik Haula said. “But the only thing that matters is winning.” Neal’s fourth playoff goal came 12 seconds after Winnipeg’s Mark Scheifele scored the first of his two goals at 5:28 of the second on a deflection of Blake Wheeler’s centering pass from the right corner. On the ensuing play, Haula took the puck from Jets goalie Connor Hellebuyck behind the net and fed Neal at the goalmouth. “Never want to give up one right after you score a goal, but that’s what happens sometime,” Jets defensemen Tyler Myers said. May 16, 2018; Las Vegas, NV, USA; Vegas Golden Knights left wing Erik Haula (56) celebrates with goalie Marc-Andre Fleury (29) after game three of the Western Conference Final of the 2018 Stanley Cup Playoffs against the Winnipeg Jets at T-Mobile Arena. Mandatory Credit: Kirby Lee-USA TODAY Sports Haula said of his line, “We needed to do better and work the puck in deeper and create more opportunities for the line, and I thought we did a better job of that. ... I got my legs moving a little more. I looked at some video and saw some things I could do better.” Neal turned passer at 8:13 of the middle period, making a perfect feed to Alex Tuch at the doorstep. Tuch flipped it past Hellebuyck for his fifth playoff goal and a 3-1 Vegas lead. Winnipeg owned most of the third period, but other than Scheifele’s 14th postseason marker just 18 seconds into the period, the Jets couldn’t solve Marc-Andre Fleury. The Golden Knights goalie made 15 of his 33 saves in the final 20 minutes, including two terrific stops on consecutive Scheifele tries from the slot midway through the period. Fleury also made two clutch saves on breakaways by Myers and Dustin Byfuglien. The Byfuglien save wiped out a bad giveaway in the neutral zone in the final four minutes. Slideshow (3 Images) “The way we played in the third, we get the chances we get, if we stick with that, we’ll be fine,” Myers said. “Fleury’s a good goalie.” Jonathan Marchessault sealed the outcome with an empty-net tally at 19:57, his eighth goal of the playoffs. Coming off a 3-1 victory Monday night that squared the series ledger, Vegas got off to the best possible start. Brayden McNabb forced a turnover and flung the puck down the middle for Marchessault. The Golden Knights center outraced Winnipeg defenseman Jacob Trouba and beat Hellebuyck with a backhander 35 seconds into the match as the building roared with delight. The Golden Knights were the faster and better team in the first 20 minutes, carving out a 10-3 advantage in shots on goal. Hellebuyck ended the night with 26 saves. —Field Level Media

Midgame surge lifts Knights to 2-1 lead in West finals