上海夜生活,上海夜生活网,上海夜网论坛 - Powered by January 2018

Small electric cars may be unaffordable for some: VW chairman to…

BERLIN ( ) – The move to electric vehicles will make cars significantly more expensive, meaning they may become unaffordable for people on low incomes in the future, th,上海夜生活怎么玩Daisy,e chairman of Volkswagen (VOWG_p.DE) said in an interview published on Sunday.

The German carmaker is still reeling from a 2015 scandal over cheating on emissions tests and needs to ramp up production of electric vehicles to meet toughened European emmissions-cutting targets.

“We have the clear goal of making electromobility accessible to a broad section of the 上海夜生活网population, that is to make it affordable,” Hans-Dieter Poetsch told the Welt am Sonntag newspaper.

But he said it could be difficult to maintain the prices of many entry-level vehicles.

“The current price level cannot stay the same if these cars are equipped with electric motors,” said Poetsch. “Therefore, it will inevitably lead to significant price increases in the small car segment.”

Poetsch referred to the tougher-than-expected targets to cut greenhouse emissions from cars by 37.5 percent by 2030, which the European Union agreed in December.

Volkswagen said in December it may have to step up plans f,上海夜生活网419Hadleigh,or mass produc,上海夜网后花园Kailani,tion of electric vehicles to meet the EU targets.

VW plans to spend almost 44 billion euros on developing electric cars, autonomous driving and new mobility services by 2023.

Trump’s Supreme Court appointee Gorsuch plots rightward course

WASHINGTON ( ) – Eight months into his lifetime U.S. Supreme Court appointment, Neil Gorsuch has given every indication through his votes in key cases and remarks from the bench he will be a stalwart of the conservative legal agenda, as President Donald Trump promised.

Still early in his career as a justice that could span decades, Gorsuch has already established himself as among the most conservative members of the top U.S. court, and has not been shy about expressing his views, sometimes in idiosyncratic ways.

He also has made public appearances before conservative audiences, including a speech at the Republican president’s Trump International Hotel in downtown Washington, that have drawn rebukes by liberal critics who questioned his independence from the president who nominated him.

Gorsuch’s record so far suggests “he is going to be a reliably conservative vote,” said Carolyn Shapiro, a law professor at Chicago-Kent College of Law.

Trump, who as a can,上海夜生活网419Nala,didate promised to pick a justice in the mold of the late conservative icon Antonin Scalia, has set out to move the federal judiciary to the right. Gorsuch’s appointment has been his biggest step yet toward that goal, restoring the high court’s 5-4 conservative majority.

Gorsuch’s April confirmation by the Republican-led Senate, despite strong Democratic opposition, provided one of Trump’s biggest political victories since taking office in January.

Writing about Gorsuch on Twitter on Tuesday, Trump said he was “very proud of him and the job he is doing,” and rejected a Washington Post report that he had considered rescinding Gorsuch’s nomination this spring after the jurist said attacks on the judiciary like those that had been made by Trump were “disheartening” and “demoralizing.”

The newspaper reported that Trump had vented angrily to ,上海夜生活网交流Rae,advisers that Gorsuch may not be sufficiently loyal. Trump responded that he had “never even wavered.”

As the court rolls into 2018 with some big rulings ahead – on free speech, gay rights, voting rights and employee rights – legal experts said Trump will be able to rely on Gorsuch.

The new justice has delivered key votes backing Trump’s travel ban on people from several Muslim-majority countries and on the death penalty, and embraced certain kinds of public funding for churches.

During arguments this month in one of the court’s biggest cases of its current term, Gorsuch signaled sympathy for a conservative Christian baker who contends he was within his constitutional rights to refuse to create a wedding cake for a gay couple.

Gorsuch declined an interview request for this article.

‘NOT INTIMIDATED’

Inside the Supreme Court chambers and outside it, Gorsuch, a 50-year-old Coloradoan, speaks his mind.

“He is not intimidated about being the newest justice,” said John Malcolm, a lawyer at the conservative Heritage Foundation think tank.

Gorsuch has regularly sided with his fellow conservative justices. In the legal fight over the three versions of Trump’s travel ban, Gorsuch sided with the president on four different occasions. In June, he was one of three justices who would have let Trump’s second travel ban go into full effect. The court voted 6-3 to allow a limited version of the ban.

On the death penalty, Gorsuch was among four conservative dissenters when the court in September granted a stay of execution for a Georgia inmate.

In April, in his first recorded vote on the court, he was part of a 5-4 conservative majority that declined a stay of execution request from an Arkansas inmate.

The court in 2018 is set to rule on two cases – one from Wisconsin and another from Maryland – involving the practice of drawing legislative districts in states in a way intended to entrench one party in power, known as partisan gerrymandering.

The rulings could influence U.S. elections for decades. Based on the Oct. 3 oral argument in the Wisconsin case, in which Democratic voters challenged a Republican-drawn electoral map, it is unclear how the court will rule.

Gorsuch used a culinary analogy to express his doubts during the argument about the Democratic challengers’ legal theory.

“It reminds me a little bit of my steak rub,” Gorsuch said. “I like some turmeric, I like a few other little ingredients, but I’m not going to tell you how much of each. And so what’s this court supposed to do, a pinch of this, a pinch of that?”

During a November speech hosted by the Federalist Society, a conservative legal group, Gorsuch confidently touted his judicial ideology, s,上海夜哪里艳遇[随机符上海夜生活论坛],tressing the importance of interpreting the U.S. Constitution based on its original meaning and narrowly reading the text of laws passed by Congress.

“Tonight,” he said to sustained applause, “I can report, a person can be both a committed originalist and textualist and be confirmed to the Supreme Court of the United States.”

With renewed vigor, U.S. top court scrutinizes curbs on voting

WASHINGTON ( ) – Government officials across the United States try to maint,上海夜网Barney,ain accurate voter rolls by removing people who have died or上海夜网 moved away. But a case coming before the U.S. Supreme Court on Wednesday explores whether some states are aggressively purging voter rolls in a way that disenfranchises thousands of voters.

The justices will hear arguments in Republican-governed Ohio’s appeal of a lower court ruling that blocked its policy of erasing from voter registration lists people who do not regularly cast a ballot. Under the policy, such registration is deleted if the person goes six years without either voting or contacting state voting officials.

“Voting is the foundation of our democracy, and it is much too important to treat as a ‘use it or lose it’ right,” said Stuart Naifeh, a voting rights lawyer with liberal advocacy group Demos, which is representing plaintiffs challenging Ohio’s policy along with the American Civil Liberties Union.

Voting rights has been an important theme before the Supreme Court during their nine-month term that began in October, in particular the question of whether actions by state leaders have disenfranchised thousands of voters either by marginalizing their electoral clout or by prohibiting them from voting.

Two other cases could have a big impact on U.S. elections. At issue is whether Republican-drawn electoral districts in Wisconsin and Democratic-drawn districts in Maryland were fashioned to entrench the majority party in power in such an extreme way that they violated the constitutional rights of certain voters. The practice is called partisan gerrymandering.

The conservative-majority court also could take up other voting rights disputes this term including a bid by Texas to revive Republican-drawn electoral districts that were thrown out by a lower court for discriminating against black and Hispanic voters. ,上海夜网邀请码Jacklyn,

Most states periodically cleanse their voter rolls to prevent irregularities, such as someone voting more than once on Election Day. Ohio is one of seven states, along with Georgia, Montana, Oklahoma, Oregon, Pennsylvania and West Virginia, that purge infrequent voters from registration lists, according to the plaintiffs who sued Ohio in 2016.

“Among those, Ohio is the most aggressive. It has the shortest timeline for removing people for non-voting,” Naifeh said.

‘EFFICIENCY AND INTEGRITY’

Republican Ohio Secretary of State Jon Husted noted that the state’s policy has been in place since the 1990s under Republican and Democratic secretaries of state. “Maintaining the integrity of the voter rolls is essential to conducting an election with efficiency and integrity,” Husted said when the court agreed to hear the case last May.

In Ohio, registered voters do not vote for two years are sent registration confirmation notices. If they do not respond and do not vote over the following four years, they are purged.

Democrats have accused Republicans of taking steps at the state level, including laws requiring certain types of government-issued identification, intended to suppress the vote of minorities, poor people and others who generally favor Democratic candidates.

A 2016 analysis found roughly twice the rate of voter purging in Democratic-leaning neighborhoods in Ohio’s three largest counties as in Republican-leaning neighborhoods.

The 6th U.S. Circuit Court of Appeals in Cincinnati ruled in September 2016 that Ohio’s policy ran afoul of a 1993 law that prohibits states from striking registered voters “by reason of the person’s failure to vote.”

Following that ruling, about 7,500 Ohio voters who otherwise would have been barred were able to cast ballots in the November 2016 election, the state said. A total of 5.6 million ballots were cast statewide.

Even as courts have invalidated Republican-drawn electoral districts targeting racial minorities, partisan gerrymandering and purging of voter rolls have emerged as tools to suppress voting, voting rights advocates said.

“What we’re seeing is a real moment as to whether or not we’re going to be a country that makes voting free, fair and accessible, or are we going to put a bunch of barriers in front of the ballot box,” said Myrna Pérez, director of the voting rights and elections project at New York University School of Law’s Brennan Center for Justice.

Other experts called Ohio’s policy reasonable to maintain ballot integrity.

“To suppress is utter nonsense. What we are doing is enforcing the law,” said Bradley Schlozman, who supervised the U.S. Justice Department’s voting section under Republican former President George W. Bush.

“All voting cases now seem to take on this political flavor and each side now ascribes impure and partisan motives to the other. It’s unfortunate,” Schlozman added.

One Ohio man, a Trumbull County truck driver and Army veteran, said in an affidavit supporting the plaintiffs in the lawsuit he was “completely blindsided” after learning he was no,上海晚上耍女人的地方Tabitha, longer registered to vote for the 2016 election. The last time he voted, he said, was in 2008. He told a county election board official by email that he is a U.S. citizen born in Ohio and should be reinstated to the rolls.

If not, he suggested also purging his name as a taxpayer.

“We’ll call us square!” the man wrote.

Written by shyw on January 27, 2018 Categories: vanyoxfh Tags: , ,

Italy regulator gives TIM’s network separation plan thumbs down

ROME ( ) – Telecom Italia (TIM) (TLIT.MI) has suffered a setback in its plan to assuage pressures for a separation of its prized network assets by placing them into a wholly owned subsidiary, as the industry regulator said it was opposed to the proposal.

TIM has been under pressure for years from Italian politicians, regulators and rivals to separate and upgrade its network, which analysts have valued at up to 15 billion euros ($17 billion).

Before being ousted in November former TIM chief Amos Genish set out a plan to spin off the network into a fully controlled separate company, but communications regulator AGCOM has given an initial thumbs down to the idea since TIM would continue to have significant power in the market.

In a document published on its website the watchdog said it was launching a 45-day public consultation on the p,上海夜生活怎么玩Earl,lan, results of which would help it draw up a final decision in coming months.

A spokesman for TIM declined comment.

Italy’s biggest phone group gives rivals such as Vodafone (VOD.L), Wind and Fastweb (SCMN.S) access to its network infrastructure, but also competes with them when it sells its own telecom services to customers.

AGCOM said that under TIM’s plan, by keeping co,上海足浴夜网联系方式Falkner,ntrol of the new company it would be in the position of being able to favor its own companies to the detriment of competitors.

Pressure on TIM to spin off its fixed access network intensified after French media group Vivendi (VIV.PA), the Italian phone group’s biggest shareholder with a 24 percent stake, named Genish at the helm ,上海夜网千花Macauly,of the group in September 2017 and began to exert greater influence, which upset the Italian government.

Since coming to power in June the government has placed the creation of a fast broadband network at the heart of its industrial policy and is drafting measures to help create one single network player for the country, which could combine TIM’s network with that of smaller rival Open 上海夜生活Fiber.

TIM has also been caught since early last year in a battle between Vivendi and U.S. activist fund Elliott over how to revive the Italian company, which is saddled with 25 billion euros of debt.

TIM appointed Luigi Gubitosi as chief executive in November.

Trade worries sour CEOs’ mood as leaders converge on Davos

DAVOS, Switzerland ( ) – Chief executives across the world have grown a lot more pessimistic about the global economic outlook due to trade disputes and tense relations between major powers, a survey showed on the eve of the World Economic Forum in Davos.

The PwC survey of nearly 1,400 CEOs found that 29 percent believe global economic growth will decline over the next 12 months, six times the level of last year and the highest percentage since 2012.

The most pronounced shift was among business leaders in the United States, where optimism dropped to 37 percent from 63 percent a year ago against the backdrop of an economi,上海夜生活网419Pablo,c slowdown and a trade war with China.

But the share of CEOs who believe the growth r,上海夜网邀请码Babette,ate will fall increased significantly across every region, and this translated into a drop in business leaders’ expectations that their companies 上海夜网will be able to grow revenues both in the short and medium term.

“It’s quite a reversal from last year and the gloomier mood cuts across just about everywhere in the world,” said Bob Moritz, global chairman at audit and accounting multinational PwC.

“With the rise of trade tension and protectionism, it stands to reason that confidence is waning.”

The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade rows could further destabilize a slowing global economy.

In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China’s economy and a possible “No Deal” Brexit as risks to its outlook, saying these could worsen market turbulence in financial markets.

The U.S. government shutdown which is keeping President Donald Trump away from the Jan. 22-25 gathering of the global political and business elite in Davos, Switzerland, is also contributing to the sense of malaise and expected to hit the U.S. economy.

STRATEGY SHIFT

The impact of the trade dispute between China and the United States, the world’s two largest economies, ranked among the top concerns for business leaders in several regions.

Trump has vowed to increase tariffs on $200 billion worth of Chinese imports on March 2 if China,上海新夜网龙凤Cade, fails to address intellectual property theft, forced technology transfers and other non-tariff barriers.

As a result, Chinese CEOs have diversified their markets for growth, with only 17 percent selecting the United States, down from 59 percent in 2018.

“Australia seems to be the principal beneficiary; not even in China’s top ten last year, it has risen to the number one destination for Chinese investment,” the report said.

Still in China, 62 percent of business leaders are adjusting their supply chain and sourcing strategy, pivoting away from the United States, because of concerns about the future of trade relations between the two countries.

Another strategic shift highlighted by the report is businesses’ tendency to hunker down and turn inward, instead of looking for expansion abroad or through acquisitions.

Asked what they would focus on to drive revenue growth over the next 12 months, 77 percent of CEOs said “operational efficiencies” and 71 percent “organic growth.”

Highlighting the growing uncertainty, 15 percent of them could not identify a single country for growth opportunities away from their home base, PwC said.

As the clock ticks toward the March 29 deadline for Britain’s exit from the EU, only 8 percent of respondents picked the UK as one of their most important foreign markets for growth prospects in the next 12 months, down from 15 percent a year ago.

Microsoft’s Azure revenue growth slows, shares fall

( ) – Microsoft Corp on Thursday met Wall Street’s targets for its quarterly results and forecast, though Azure cloud computing sales grew more slowly than a year earlier.

Shares of Microsoft, one of the most valuable U.S. technology companies, fell 3 percent in extended trade even though earnings per share slightly beat analysts’ estimates.,上海高端夜生活在那里Ida, The stock had closed 3.3 percent higher in a broad tech rally.

Azure, Microsoft’s flagship cloud product, had revenue growth of 76 percent in the fiscal second quarter ended Dec. 31, down from a 98 percent surge a year earlier. Azure sales increased 76 percent in the September quarter as well.

Long known for its Windows software, Microsoft has shifted its focus to the fledgling cloud market where it is battling Amazon.com Inc for dominance.

The company is rapidly picking up business from the retail industry in particular, which is aiming to keep pace with the e-commerce business of Amazon. This month alone, Microsoft announced deals with Walgreens Boots Alliance Inc and Kroger Co, on top of a five-year agreement with Walmart Inc it unveiled this summer.

“Our strong commercial cloud results reflect our deep and growing partnerships with leading companies in every industry including retail, financial services, and healthcare,” Microsoft Chief Executive Satya Nadella said in a statement.

But Wall Street has grown accustomed to blockbuster earnings beats as companies around the globe ditch their own data centers for the cloud.

“It wasn’t a blowout quarter,” said analyst Shannon Cross of Cross Research. “That’s probably playing a bit into” the stock decline.

Microsoft forecast revenue of between $29.4 billion and $30.1 billion in the current quarter. Analysts were expecting $29.9 billion, according to IBES data from Refinitiv.

The company also said a stronger U.S. dollar would hit growth of its intelligent cloud business segment, which includes Azure and other products, by 2 percentage points.

Microsoft has long courted customers outside the United States and has a 17 percent share of the global cloud market, research firm Canalys previously said. Amazon has 32 percent.

Microsoft is spending more on the latest cloud technologies to narrow the gap. Research and development expenses rose to $4.1 billion in the quarter from $3.5 billion a year earlier.

“Clearly the company is spending aggressively to double down on its cloud bet, a dynamic that is a smart move but caps margin upside in the quarter,” said Daniel Ives, an analyst at Wedbush Securities.

Microsoft’s total revenue climbed 12.3 percent to $32.47 billion. Wall Street analysts on average had expected revenue of $32.51 billion, according to IBES data from Refinitiv.

Revenue from 上海夜生活网Microsoft’s productivity software unit climbed 13 percent to $10.1 billion, powered by double-digit revenue growth for LinkedIn and Office 365. Wall Street analysts on average had expected revenue of $10.09 billion, according ,上海夜网千花Dakota,to IBES data from Refinitiv.

Micro,上海凤楼夜网Nadia,soft’s personal computing division, home to Windows software and still its largest by revenue, showed revenue growth of 7 percent to $13 billion, while analysts had expected $13.07 billion. The unit also includes Xbox gaming consoles, the Bing online search service and Surface laptops.

Microsoft reported a profit of $8.42 billion. Excluding one-time items, it earned $1.10 per share, edging past analysts’ estimates of $1.09 per share.

Canadian railways ration space as commodity congestion problems worsen

WINNIPEG, Manitoba ( ) – Canada’s two major railways are rationing space on trains traveling to the country’s biggest port and recently prioritized some commodities over others to deal with congestion, the latest indication of their struggle to meet demand from,上海会所夜网Kai, new trade deals.

Tha,上海仙霞路夜生活Dahlia,t move prompted Canada’s transport regulator last week to start an investigation into rail services around Port Metro Vancouver, after shippers complained of “discriminatory treatment of certain commodities” by Canadian National Railway (CN) (CNR.TO) and Canadian Pacific Railway (CP) (CP.TO).

Canada is a top shipper of crops, fertilizer, oil and pulp, but has in recent years needed government intervention to keep commodities moving, from ordering railways to clear grain backlogs to Alberta’s crude oil curtail,上海夜生活桑拿会所Babette,ments this month due to full pipelines.

Free-trade deals with the European Union and Pacific Nations are boosting demand for commodities, adding further strain to Canada’s transportation infrastructure. Currently, the United States and Mexico account for at least 75 percent of Canadian exports.

Both railways last month rationed the volume of traffic around Vancouver by restricting movement of some commodities, such as peas, lentils, pulp and paper, according to shipper notices seen by .

The restrictions, called embargoes, are usually a tool of last resort for railways to ease congestion by temporarily limiting traffic. But in December, shippers allege that CN and CP used them more often than normal, harming some commodity sellers more than others in an effort to push through the maximum overall volume.

CP imposed embargoes on three specific transloaders – facilities that empty rail cars into containers for loading onto vessels. These transloaders handle peas and lentils, but were prevented from doing so in December for days at a time, said Greg Northey, director of industry relations at Pulse Canada.

‘TOTAL MESS’

The delays caused some containers to miss their vessels, triggering contract breach penalties, Northey said.

“It was a total mess,” he said.

Embargoes also added costs for pulp and paper producers, who are trying to bolster ties with Asian buyers amid ongoing tariff disputes with the United States.

For a second consecutive year, the railways imposed more embargo restrictions on pulp and paper than usual in December, leading to shipping delays, according to the Forest Products Association of Canada, whose members include Canfor Corp (CFP.TO) and West Fraser Timber (WFT.TO).

“We can’t do business like this if we want to diversify markets,” said association Chief Executive Derek Nighbor. “It’s just a missed opportunity.”

Poor rail service costs the forest products industry C$500 million ($376 million) annually, the association said. December’s problems cost mills as much as a further C$1 million each, it said.

Several shippers said the transportation agency will be asked at a hearing in late January to consider whether the railways discriminated against shippers that fill manifest trains – those carrying a variety of products. The investigation could also consider whether the railways violated their common carrier obligations to haul a full range of freight.

For CN and CP, the investigation raises the risk of further regulation in an industry where they a上海夜生活网lready complain of too much government control.

In a statement, CN said the transportation agency’s investigation should examine the full supply chain and take into account the impact that rain and wind had on operations late last year.

CN said freight shipments are up 10 percent from November to mid-January year-over-year.

CP Chief Executive Keith Creel said he takes “great exception” to CP being included in the agency’s investigation, adding in a statement that he is not aware of formal complaints.

Since the railways’ embargo and permit system was implemented in December to clear backed-up freight, the flow of cars to grain terminals has improved. But it is unclear how the backlog happened in the first place, said Wade Sobkowich, executive director of Western Grain Elevator Association. It indicates that railways have failed to invest in adequate capacity to move goods at peak times, he said.

Canpotex Ltd, the offshore sales arm of potash producers Nutrien Ltd (NTR.TO) and Mosaic Co (MOS.N) has also been affected by congestion and delays around Vancouver, spokeswoman Natashia Stinka said.

Boeing shares soar on profit, aircraft forecast

( ) – Boeing Co raised its profit and cash flow expectations for 2019 on Wednesday, sending shares up more than six percent amid a boom in air travel and faster production, though it was still fighting supplier delays on its cash-cow 737 jetliners.

The world’s largest planemaker said it expects to deliver between 895 and 905 commercial aircraft in 2019, up from 806 aircraft it delivered last year, which – although just below company targets – kept it ahead of arch-rival ,上海夜生活Nala,Airbus SE for a seventh year.

Investors closely,夜上海论坛Naia, watch the number of planes Boeing turns over to airlines and leasing firms in a year for hints on the company’s cash flow and revenue.

Despite its rosy outlook, America’s biggest exporter faces possible turbulence on a number of fronts in 2019, including financial stress felt by some of its airline customers, signs of a broader economic slowd上海夜生活论坛own and U.S. trade tensions with China, where Boeing ships about 1 out of 4 aircraft that it makes.

There are also unanswered questions related to the deadly crash of a Lion Air 737 MAX in Indonesia in October that thrust a spotlight on the newest version of the best-selling jet, as well as on airline training and maintenance.

Boeing Chief Executive Dennis Muilenburg told analysts during a conference call that he saw progress in fresh U.S.-China trade talks and separately said aircraft orders would be “moderated” but healthy in 2019, although deliveries dropped in January.

Muilenburg said Boeing would make a final launch decision in 2020 on a proposed new mid sized jetliner, aimed at a niche market falling between narrow- and wide-body aircraft, depending on the results of a round of commercial pre-marketing which it may begin this year. He had previously spoken of a launch decision in 2019.

The decision on whether to launch the new jet, known as NMA, is expected to reshape competition with Airbus, which dominates the top end of the medium-haul sector.

Muilenburg said Boeing started running 787 Dreamliner assembly lines at a rate ready to support higher output of 14 jets a month, confirming an earlier report, bringing it within reach of a closely-watched goal designed to boost cash and reduce costs.

The 787 transition to 14 per month will be completed by the second quarter, Muilenburg said.

Chicago-based Boeing said its quarterly operating margin on commercial aircraft increased to 15.6 percent from 11.6 percent from a year ago, driven by higher 737 production and higher margins on its Dreamliner.

Boeing’s upbeat forecasts and full-year 2018 results – which included surpassing the $100 billion revenue mark for the first time in its 102-year history – boosted shares nearly 7 percent to $388.64, helping boost the Dow Jones Industrial Average.

737 ENGINE DELAYS

Despite faster production, Boeing said it was still muscling through delays on engines supplied by CFM International – the trans-Atlantic venture between General Electric and Safran, which contributed to a major bottleneck at the Seattle-area 737 factory last year.

Related production problems dragged down quarterly free cash flow to $2.45 billion, below the previous year, Boeing said.

“We are deploying additional resources with them into their factories and supply chain,” Muilenburg said regarding CFM. “We do expect to recover, we’re seeing signs of recovery, but we still have work to go.”

A chunk of the earnings call turned to newer aircraft, with Muilenburg telling analysts the first all-new 777X widebody test airplane completed final body join and power-on ahead of flight tests later this year. The program remains on track for first delivery in 2020, he said.

Boeing also raised its full-year core earnings per share forecast to $19.90-$20.10 from $14.90-$15.10, and revenue to a range of $109.5 billion to $111.5 billion, from $98 billion to $100 billion, fueled by strong volume across its commercial, military and services businesses.

The company forecast operating cash flow between $17 billion and $17.5 billion in 2019, compared with cash flow of $15.32 billion in 2018, and above analysts’ average estimate of $16.73 billion, according to IBES data from Refinitiv.

It expects 2019 core earnings between $19.90 per share and $20.10 per share, and revenue between $109.5 billion and $111.5 billion.

Boeing’s core earnings rose to $5.48 per share in the fourth quarter, from $5.07 per share a year earlier, and came in above Wall Street’s estimate of $4.57 per share.

,上海夜网千花Gabi,

Quarterly revenue rose 14.4 percent to $28.34 billion, above analysts’ average expectation of $26.87 billion. Boeing’s 2018 revenue surpassed the $100 billion mark for the first time in its 102-year history.

Exclusive: U.S. regulator drops fine against Citi over fair-lending…

WASHINGTON ( ) – A top U.S. bank regulator has decided not to fine Citigroup for discriminating against minority mortgage borrowers, dropping the public rebuke that some officials had sought, two people familiar with the matter told .

The decision is sure to be watched,上海夜网邀请码Kai, by consumer advocates who have questioned whether the Office of the Comptroller of the Currency (OCC) will enforce fair lending rules under the leadership of Joseph Otting, an appointee of President Donald Trump and former banker who has pledged to be friendlier to the industry.

reported in October that the OCC was mulling sanctions against Citi for failing to give minority customers mortgage discounts that were available to many other borrowers.

Instead of a fine, the OCC issued a warning after Citi assured the regulator it had repaid borrowers and fixed faulty lending policies, the people said this week.

A spokesman for the OCC declined to comment, and a Citi spokesman declined to comment for this story.

In October, Citi told it believed it had not engaged in discrimination but also said it had reimbursed affected customers and that the third-largest U.S. lender had strengthened internal controls.

The warning from the OCC, known as a “matter requiring attention”, does not entail the monetary penalties or reputational hit that makes public sanctions more effective at discouraging misconduct, said enforcement experts.

“There is no deterrence for banks when上海夜生活论坛 abuses are kept secret,” said Eric Halperin, CEO of non-profit Civil Rights Corps and a former Department of Justice official who prosecuted discrimination cases under former President Barack Obama.

“Regulators should bring bad behavior to light.”

Some OCC staff have argued since early 2017 that the faulty mortgage program violated federal law requiring equal treatment for all races, has reported.

But officials seeking a tough line against Citibank were disappointed. This summer, the Justice Department decided it would not penalize the bank, reported in October. In recent weeks, the OCC also declined to publicly sanction Citi, sources said.

Citi’s problem sprang from a “relationship pricing” program, common throughout the industry, that gives customers holding large deposits with the bank a preferential mortgage rate.

In 2014, Citi identified “errors” implementing the program, the bank said in October. Sources familiar with the issue said some minority borrowers who qualified for the mortgage rate discount had not received it.

Citi flagged the issue to the OCC, saying the discrepancies were inadvertent and it had taken steps to resolve them. Following a review, OCC staff agreed in early 2017 that the loans were racially skewed and recommended public sanctions, according to the sources.

In recent weeks, a panel of senior O,上海足浴夜网联系方式Dahlia,CC officials voted to issue the written warning, the sources said. Although Otting does not sit on that panel, he has the final say on enforcement.

In October, Citi said less than 4 percent of its mortgages were affected by the relationship pricing problem and harmed customers w,上海夜生活桑拿会所Fabiana,ere typically refunded $850.

The bank declined to say exactly how many customers were harmed, but a estimate based on mortgage lending data provided by Inside Mortgage Finance suggests thousands of qualified borrowers may have missed out on the discounts.

Gold hits eight-month high, stocks mixed amid trade caution, results

NEW YORK ( ) – Gold hit an eight-month high while world stock markets were mixed ahead of further U.S.-Sino trade talks, a raft of technology company results, including Apple’s, and a Federal Reserve decision on U.S. interest rates.

The U.S. dollar traded little changed and oil prices r上海夜网ose after Washington slapped sanctions on Venezuela’s state-owned oil firm in a bid to curb its crude exports as traders prepared for major events, including a key Brexit vote late in the day.

Sterling fell after British lawmakers rejected most amendments that aimed to keep Britain from leaving the European Union without a deal, reviving worries of a chaotic withdrawal from the trading bloc that would damage the UK economy.

Sterling fell sharply after a brief rise and was down 0.75 percent.

Investors expect the Fed, the U.S. central bank, to show a more cautious stance when policymakers release a statement on Wednesday after a two-day meeting. U.S. economic data in December that was softer than expected and a sharp downturn in financial markets are likel,上海夜网邀请码Barney,y to keep the Fed from raising rates.

Equity markets in Europe rose as investors bid up stocks considered safer during times of economic uncertainty, such as utilities. However, a gauge of global stock performance edged lower as stocks on Wall Street fell amid a ream of mixed earnings reports and caution due to the U.S.-China trade spat.

MSCI’s gauge of stocks across the globe was little changed, while the FTSEurofirst 300 index of leading regional shares in Europe closed 0.8 percent higher.

The Dow Jones Industrial Average rose 51.74 points, or 0.21 percent, to 24,579.96. The S&P 500 lost 3.85 points, or 0.15 percent, to 2,640 and the Nasdaq Composite dropped 57.40 points, or 0.81 percent, to 7,028.29.

The information glut this week will make it hard for people to reach a conclusion but the trade talks with China, which begin Wednesday, are the overriding issue for the world economy, said David Kelly, chief global strategist at JPMorgan Funds in New York.

What Washington, and possibly Beijing, fail to understand is that the uncertainty about trade is slowing the global economy, which will show up in East Asian PMI manufacturing data for January to be released on Thursday, Kelly said.

“The biggest tax levy by Washington is an uncertainty tax, and it’s the biggest threat to the markets and the economy this year,” Kelly said.

Tensions were high after U.S. officials announced criminal charges against China’s telecom giant Huawei for violating U.S. sanctions against Iran.

For Asia, the blow was cushioned by promises of more Chinese stimulus but Beijing berated Washington for blocking tactics in its World Trade Organization appeal against U.S. tariffs.

Amid the uncertainty, safe-haven gold broke,上海足浴夜网联系方式Mabel, through $1,310 an ounce in spot prices to reach its highest since last May.

U.S. gold futures settled up 0.4 percent at $1,308.90 per ounce.

Oil price gains were capped by abundant supply and signs of a slowing Chinese economy. Brent crude oil futures rose $1.39 to settle at $61.32 a barrel while U.S. West Texas Intermediate (WTI) crude futures gained $1.32 to settle at $53.31.

Market ,上海仙霞路夜生活Caden,participants will have catalysts for trading all week, with more than one-fifth of companies on the benchmark S&P 500 index reporting results, including Amazon, Microsoft and Facebook.

Apple Inc reported earnings after the bell and said sales for its fiscal second quarter would most likely be lower than Wall Street expected.

The outlook suggested Apple still faces weak demand for its iPhone, especially in China, the world’s biggest smartphone market. But Apple shares rose 4.3 percent in after-hours trading on upbeat comments from Chief Executive Tim Cook.

U.S. Treasury yields fell across maturities as investors anticipated strong demand for $78 billion of new issues on sale later in the day and on data showing U.S. consumer confidence at its lowest since July 2017.

Benchmark 10-year U.S. Treasury notes rose 9/32 in price to push their yield down to 2.7116 percent.

The dollar index rose 0.06 percent, while the euro gained 0.01 percent to $1.1434. The Japanese yen weakened 0.01 percent versus the greenback at 109.33 per dollar.

Fed could soon stop trimming $4.1 trillion portfolio, Powell says

SAN FRANCISCO/ NEW YORK ( ) – The Federal Reserve may wind down its gradual asset-shedding operation sooner than thought, leaving the U.S. central bank with a bigger balance sheet than earlier anticipated, Fed Chairman Jerome Powell said Wednesday.

Powell said no decision had been made on how big the Fed’s balance sheet, now down to $4.1 trillion from a peak of $4.5 trillion, would need to be. Indeed, the Fed has never said exactly how far it plans to shrink the balance sheet, though in the past Fed officials had suggested it would be to less than $3 trillion.

Now though, it looks like it may not get that small.

“The committee is now evaluating the appropriate timing for end of the balance sheet run-off,” and will finalize its plan to do so “at coming meetings,” Powell said at a press conference following the U.S. central bank’s January meeting. “The implication is that the normalization of the size of portfolio will be completed sooner and with a larger balance sheet than in previous estimates.”

Powell made clear that the change in policy is unrelated to the state of the economy but is a response to how the financial system has evolved since the financial crisis.

Banks, he said, are stashing much more in cash reserves at the Fed than they did before the crisis, in part to satisfy liquidity and other regulatory requirements put in place since the crisis to make banks safer.

That is a good thing, Powell said. But unless the Fed’s balance sheet is also much bigger than it was before the crisis, the increased demand could interfere with the Fed’s ability to control its policy lever.

So, Powell said on Wednesday, the Fed will aim for a balance sheet that is big enough to accommodate banks’ demand for reserves, plus an unspecified “buffer.”

As recently as last June, Powell told Congress he expected normalization of the Fed’s balance sheet would likely take three or four years.

The Fed next meets in March, and has further meetings scheduled for late April and mid-June.

“The groundwork is now explicitly lai,上海夜网官方网站Jacklyn,d for a 2019 taper, and possibly cessation of run-off by the end of the year,” said Jon Hill, vice president of the U.S. rates strategy team at BMO Capital Market.

STOP THE 50 B’S?

The Fed built up its balance sheet in the aftermath of the 2007-2009 financial crisis, buying trillions of dollars of bonds in an effort to push down longer-run borrowing costs because it had already slashed short-term borrowing costs to near zero.

It began retreating from crisis-era policy ,上海凤楼夜网Larissa,in 2015 first by raising interest rates and then in October 2017 by allowing its balance sheet to slowly shrink by no longer replacing all maturing bonds with an equal amount of new bonds. The monthly runoff was capped at $50 billion to minimize any impact on financial markets.

But late last year, prominent investors took to blaming the Fed’s balance sheet runoff for market volatility.

President Donald Trump took up the drumbeat against the program in December, tweeting at the Fed to “stop with the 50 B’s” – a reference to the $50 billion monthly cap.

More recently, economists have begun to pencil in bigge上海夜生活网r balance sheets as well, with JP Morgan’s chief U.S. economist this week predicting the Fed would end up with a $3.5 trillion balance sheet.

Powell made clear that any decision on the balance sheet was tied to market plumbing and bank requirements, and was not a referendum on the state of the economy. Still, he did not rule out any future adjustments to the balance sheet, including to offset economic threats.

“We will not hesitate to make changes in light of economic and financial developments,” he ,上海夜哪里艳遇Falkner,said. “This does not mean we would use the balance sheet as an active tool, but occasional changes could be warranted.”

Visa profit beats estimates on higher transaction volume

( ) – Visa Inc beat Wall Street estimates for quarterly profit on Wednesday, as the payments network processed more transactions on the back of higher consumer spending during the holiday season.

Visa’s total payments volumes and the number of processed transacti,夜上海419龙凤论坛Larissa,ons rose 11 percent each, sending its shares up about 3 percent after the bell.

The United States recorded its strongest holiday s上海夜生活网eason in six years backed on the strength in the economy. According to a Dec. 26 report by Mastercard, holiday spending rose 5.1 percent to more than $850 billion.

This boosted payments volume, which represents the dollar amount of purchases made with cards carrying Visa’s branding. The company charges a fee every time a merchant swipes a card that uses its network.

Payments volume at Visa is improving as it is heavily marketing and trying to bolster revenue at its Visa Direct platform, which enables real-time funds de,上海夜哪里艳遇Hadley,livery directly to financial accounts using card credentials.

How,上海会所夜网Gabrielle,ever, operating expenses rose 16.5 percent to $1.79 billion in the quarter as Visa, like its rival Mastercard spent more to partner with consumer brands, payment processors, hotels and airport lounges to offer subscribers better perks.

Due to this, expenses rose, but also boosted payment volumes. “Visa’s new partnerships and renewals are helping the company to attract more customers, boosting payment volumes,” Buckingham Research Group analyst Chris Brendler said.

Net income at the world’s largest payment processor rose to $2.98 billion, or $1.30 per Class A share, in the first quarter ended Dec. 31, from $2.52 billion, or $1.07 cents per Class A share, a year earlier.

Excluding one-time items, Visa earned $1.30 per share, beating the analyst average estimate of $1.25, according to IBES data from Refinitiv.

Net revenue rose 13.24 percent to $5.51 billion in the quarter.

Watchdog fight erupts in Danske Bank scandal blame game

COPENHAGEN ( ) – Danish and Estonian financial regulators are blaming each other for the Danske Bank (DANSKE.CO) mo上海夜生活论坛ney laundering scandal, which has highlighted the need for better cross-border surveillance.

Denmark’s largest lender is being investigated in Denmark, Estonia, Britain and the U,上海夜网Cade,nited States over 200 billion euros ($229 billion) of suspicious payments through its Estonian branch between 2007 and 2015.

The Danish Financial Supervisory Authority (DFSA) this week prompted a sharp rebuke from its Estonian counterpart when it said it had met its obligations.

“As the host country supervisory authority, the Estonian supervisory authority (EFSA) has had and still has responsibility for the anti-money laundering (AML) supervision of the Estonian branch,” the DFSA said in a report.

The EFSA, locally known as the Finantsinspektsioon, responded by saying Danske Bank had failed in its governance and that the DFSA “was and is responsible for supervising the governance of Danske Bank, including,上海仙霞路夜生活Gabriella, its branches”.

“Finantsinspektsioon stands ready to take over supervision of Danske Bank as whole,” it added.

The DFSA responded by saying that the division of responsibilities was clear.

“EFSA had the power to stop the offences when EFSA became aware of them during the inspections in 2014. EFSA was not dependent on possible actions by the home country supervisory authority (DFSA),” DFSA said on Wednesday.

Danish anti money laundering expert Jakob Dedenroth Bernhoft said that although EFSA was responsible for money laundering supervision in Estonia, the DFSA should have reacted to a business model that allowed Danske Bank to operate without interference from the headquarters in Copenhagen.

“This dispute is clear evidence that there is a need for much tighter cooperation on the operational level, and to work as one authority in order to stop money laundering,” he,上海夜生活怎么玩Jackson, said.

European Union governments reached a preliminary deal last month to clamp down on money laundering by strengthening bank supervision through the European Banking Authority.

Vale stock plunges after Brazil disaster; $19 billion in market…

SAO PAULO ( ) – Brazilian miner Vale SA’s shares plunged on Monday, wiping out 71.34 billion reais ($18.96 billion) in market value, after a tailing dam collapse on Friday killed scores of people at one of its mines, less than four years after a similar disaster.

Vale shares fell 24 percent to close at 42.65 reais, their steepest daily drop ever in percentage terms. Brazil’s stock market was closed on Friday when the disaster occurred. Vale’s ADR fell 8.1 percent on Friday and 18 percent on Monday, to close at $11.20, the lowest close since December 2017.

Prosecutors, politicians and victims’ families called for punishment, as fears grew that the death toll from the disaster, already 65, could soar into the hundreds. Fines, lawsuits and a regulatory crackdown were expected. The company suspended dividend payments late on Sunday.

“The fact is that Vale’s share drop was even steeper than some market participants expected,” said Igor Lima, a fund manager and partner at Galt Capital in Rio de Janeiro.

“At the same time, the reaction of the government and other public agencies has been quite a bit stronger than in the Samarco accident,” he said, referring to a 2015 mining dam burst involving a Vale joint venture. “This reaction has brought quite a lot of uncertainty about the size of the financial punishment Vale will have to handle.”

Brazil’s top prosecutor, Raquel Dodge, said th上海夜网e company should be criminally prosecuted. Executives could also be personally held responsible, she said.

HSBC and Jefferies h,上海夜生活乌托邦Pablo,ave already cut their recommendations for the s,上海夜生活论坛Gabriella,hares to hold from buy. Other analysts have held back, saying they are trying to figure out potential damages. A law firm filed a class-action lawsuit against Vale and its top executives in a New York court.

GREATER SCRUTINY?

Previ, Brazil’s largest pension fund and a major shareholder at the mining company, said in a statement that it could absorb the impact from the steep share price drop without the need to eventually sell any of its holdings.

“Billions of dollars in Vale’s assets have already been frozen as we discussed this weekend,” said Michael Underhill, chief investment officer at Capital Innovations LLC in Milwaukee, adding that the lost production from the affected mine could be made up elsewhere in Vale’s system.

“There remains a fair chance that all of Vale’s dams (which exceed 100 in count) will also be coming under great scrutiny going forward,” said Underhill.

Vale bond prices also fell, with the yield on its August 2026 bonds jumping to 5.7 percent from 4.6 percent early on Friday before the dam bust, according to Market Axess Bondticker.

Fitch downgraded the company’s debt on Monday to BBB- and placed it on ratings watch negative. Late on Friday, Standard & Poor’s put Vale’s debt under review for possible downgrade.

So far, Brazilian courts have iss,夜上海419龙凤论坛Pablo,ued orders to freeze 11.8 billion reais ($3.1 billion) in Vale’s accounts to cover rescue efforts and damages. The company had around 24 billion reais in cash and equivalents at the end of the third quarter.

Analysts at Credit Suisse said in a note to clients they anticipated regulatory changes for tailings dams because it was the second disaster in less than four years, after the fatal 2015 dam burst at Samarco Mineracao, a joint venture by Vale and BHP Group.

House intel panel advances NSA spying bill despite privacy objections

WASHINGTON ( ) – A U.S. House panel on Friday approved legislation that would renew the National Security Agency’s warrantless internet surveillance program, despite objections from the technology sector and civil liberties groups over inadequate privacy protection.

The House Intelligence Committee passed 13-8 the measure to reauthorize Section 702 of the Foreign Intelligence Surveillance Act for a further four years until 2021. The act is due to expire on Dec. 31 in the absence of congressional action.

The bill’s passage signaled that Congress remained far from consensus on how to renew Section 702, as several rival bills with various new privacy provisions circulated in ,夜上海419龙凤论坛Lance,the House and Senate, with no clear path forward for any measure.

Intelligence agencies say Section 702 is vital to national security and protecting American allies, and the Trump administration wants minimal changes to it.

But privacy advocates criticized the intelligence panel’s bill for not requiring a warrant to access collected data bel,上海凤楼夜网Jace,onging to Americans.

Reform Government Surveillance, a group representing major tech companies including Facebook (FB.O), Alphabet’s Google (GOOGL.O) and Apple (AAPL.O) that presses governments around the world to bolster digital privacy protections, issued a lengthy statement Thursday denouncing the measure, which it said may expand government surveillance.

All Republicans on the intelligence panel supported the measure, while all Democrats opposed it due to a mix of concerns, including language that would revise how government officials can “unmask” the identity of Americans’ names’ typically redacted in intelligence intercepts.

Republicans, including President Donald Trump, have accused without evidence the previous ,上海夜生活去哪玩Fabi,administration of President Barack Obama, a Democrat, of improperly unmasking names for political reasons, a charge Democrats have rejected.

Section 702 allows the NSA to collect vast amounts of digital communications from foreign suspects living outside the United States.

But the program, classified details of which were exposed in 2013 by former NSA contractor Edward Snowden, incidentally gathers communications of Americans for a variety of technical reasons, including if they communicate with a foreign target living overseas. Those communications can上海夜生活论坛 then be subject to searches without a warrant, including by the Federal Bureau of Investigation.

The House Judiciary Committee last month passed by 27-8 another measure that partially restricts the FBI’s ability to review American data collected under Section 702 by requiring the agency to obtain a warrant when seeking evidence of crime, but not in other cases such as for data related to counterterrorism.

Trump says deal ‘could very well happen’ with China

WASHINGTON ( ) – U.S. President Donald Trump said on Saturday there has been progress toward a trade deal with China, but denied that he was considering lifting tariffs on Chinese imports.

“Things are g,上海夜生活论坛Macey,oing very well with China and with trade,” he told reporters at the White House, adding that he had seen some “false reports” indicating that U.S. tariffs on Chinese products would be lifted.

“If we make a deal certainly we would not have sanctions and if ,上海足浴夜网联系方式Qirin,we don’t make a deal we will,” Trump said. “We’ve really had a very extraordinary number of meetings and a deal could very well happen with China. It’s going well. I would say about as well as it could possibly go.”

Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for the next round of trade negotiations with Washington.

That follows lower-level negotiations held in Beijing last week to resolve the bitter dispute between the world’s two largest economies by March 2, when the Trump administration is scheduled to increase tariffs on $200 billion worth of Chinese goods.

According to sources briefed on the ongoing negotiations, cited exclusively by on Friday, the United States is pushing for regular reviews of China’s progress on pledged trade reforms as a condition for a trade deal – and could ag上海夜生活网ain resort to tariffs if it deems Beijing has violated the agreement.

“The threat of tariffs is not going away, even if there is a deal,” said one of three sources briefed on the talks who spoke with on condition of anonymity.

Chinese negotiators were not keen on the idea of regular compliance checks, the source said, but the U.S. proposal “didn’t derail negotiations.”

A Chinese source said the United States wants “periodic assessments” but it was not yet clear how often.

“It looks like humiliation,” the source said. “But perhaps the two sides could find a way to save face for the Chinese government.”

The Trump administration has imposed import tariffs on Chinese goods to put pressure on Beijing to meet a long list of demands that would ,上海夜网推油Tabitha,rewrite the terms of trade between the two countries.

The demands include changes to China’s policies on intellectual property protection, technology transfers, industrial subsidies and other trade barriers.

Russia says oil price war with U.S. would be too costly

DAVOS, Switzerland ( ) – Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said.

Since 2017, Russia and OPEC have cut oil production jointly for the first time in an effort to boost the price of crude. Following their supply pact, oil has traded between roughly $60 and $85 per barrel, from below $30 before the deal took effect.

“For U.S. shale production,上海夜生活去哪玩Idaleen, to go down, you need oil prices at $40 per barrel and below. That is not healthy for the Russian economy,” Kirill Dmitriev, head of the state-backed Russian Direct Investment Fund, said on Wednesday.

“We should not take competitive action to destroy 上海夜生活U.S. shale production,” said Dmitriev, speaking at the World Economic Forum in Davos, Switzerland.

Three years ago in Davos, Dmitriev became the first Russian official to mention publicly the possibility of a supply pact with the Organization of the Petroleum Exporting Countries. At that time, oil prices had collapsed after OPEC kingpin Saudi Arabia raised output to hurt higher-cost U.S. producers.

The rise in prices thanks to output cuts has brought roughly an additional $110 billion in revenues to Russia, Dmitriev said.

However, higher oil prices have al,上海夜玩网论坛Kai,so helped the United States, which is not participating in output cuts. The country’s production has rocketed, overtaking that of Russia and Saudi Arabia and making it the world’s largest oil liquids producer.

U.S. production is expected to reach new highs this year. Russian President Vladimir Putin will visit Saudi Arabia later in 2019 to strengthen cooperation further, Dmitriev said.

Azerbaijan, one of the largest former,上海夜生活桑拿会所Radley, Soviet oil producers and a participant in the production deal with OPEC, believes the pact should be extended to the end of this year, President Ilham Aliyev said this week.

Such a move should keep oil prices in the $60 to $70 range, Aliyev said.

(This story was refiled to change spelling of Dmitriev to conform with his preferred transliteration from Russian)

Embraer warns of little or no profit in next two years

SAO PAULO ( ) – Brazilian planemaker Embraer SA (EMBR3.SA) said on Wednesday it expects to keep $1 billion in cash after paying off all of its debt once a ,上海夜哪里艳遇Balthazar,proposed $4.2 billion deal with Boeing Co (BA.N) closes, although it warned of little or no profit in the next two years.

Embraer expects earnings to break even before paying interest expenses and taxes in 2019, which UBS analysts said “falls below expectations.” The measure, known as EBIT, is expected to rise to between 2 percent and 5 percent of revenue in 2020, the company said in a securities filing.

In 2018, Embraer failed to meet several of its projections, coming up at least $250 million short of its revenue forecast in its executive jet division and $200 million short in its defense division.

The company burned through twice as much cash as expected, with final negative cash flow of about $200 million for 2018. But it hopes to reverse that trend with Boeing money, forecasting positive cash flow of $1 billion if the sale goes through.

Embraer shares, which fell as much as 5 percent in early Sao Paulo trading, were down 3.7 percent in the afternoon.

Embraer is finalizing a deal to sell 80 percent of its commercial aviation division, its most profitable unit, to Boeing for $4.2 billion, which would expand the intense competition between the U.S. planemaker and Airbus SE (AIR.PA) in small上海夜网er passenger jets.

Company executives said at an event in New York that Embraer would start receiving dividend payments from Boeing five years after the deal is approved.

“The new Embraer is a valuable asset,” Chief Financial Officer Nelson Salgado said in New York. “Generally the market has not been attributing a big market to our executive and defense business, but we think there is a big upside.”

Salgado pointed to sales potential with its newly launched executive jets and its signature defense plane, the KC-390, which Boeing will help market to “geopolitical allies” of the United States.

The deal with Boeing was approved by the Brazilian government this month and,上海夜网邀请码Earl, should be put to a vote by Embraer shareholders in February before an expected close at the end of the year. The agreement also requires U.S. regulatory approval.

Overall, Embraer would give shareholders over 35 percent of the proceeds from Boeing, with owners of shares trading on the New York Stock Exchange receiving abou,上海夜网千花Dalton,t $8.50 per share, the company said.

Aircraft deliveries from the commercial division, which would be controlled by Boeing starting in 2020, are seen as being roughly flat this year from a year ago, ranging between 85 and 95 planes.

The company said that its projections for 2019 include costs associated with its proposed deal with Boeing, the most significant being taxes.

Embraer also published projections for 2020, the first year after the deal closes. It expects revenue to fall by about 50 percent after the separation of the commercial division in which it will retain a 20 percent stake.

Written by shyw on January 15, 2018 Categories: wjxqxjow Tags: , , ,

CEOs sour on Trump policies, warn they hurt business, investment

DAVOS, Switzerland ( ) – From centre-stage in Davos last year, President Donald Trump told the world’s corporate bosses that America is a great place to invest. It hasn’t quite turned out that way.

Foreign direct investment to the United States fell in 2018, and companies gathered at the World Economic Forum in the Swiss Alps this year say they are worried Trump’s trade war with China will dampen the global economy and business investments even further.

One key complaint here this week: Companies increasingly reliant on consumers in China have had to lower their earnings outlooks as the world’s second-largest economy cools.

And while the U.S. administration has cut taxes and regulations to attract new investment, a wave of caution is rippling through many industries in the United States.

“The trade war has been very damaging for the U.S. agricultural economy,” said David MacLennan, chief executive of U.S. food and agricultural giant Cargill Inc, which announced worse-than-expected results out of China earlier in January.

“The longer this goes on, the worse it is,” he told .

Foreign investment in the United States, which includes cross-border mergers and acquisitions and intra-company loans, fell about 18 percent in 2018 from the prior year, according to the United Nations Conference on Trade and Development (UNCTAD).

That is close to the 19 percent year-on-year drop in foreign investment globally. But it is notable given the deregulation and tax cuts that might have otherwise fed into inward investment. In January of last year, at Davos, many executives said they planned to spend money in the U.S. in 2018.

While the U.N. trade agency attributed the global and U.S. declines to the tariffs that the United States and China have imposed on each other’s imports since mid-2018, foreign investment in China actually rose 3 percent last year over the previous year. Foreign investment to India rose 7 percent.

Alan Jope, chief executive of consumer goods company Unilever (ULVR.L), said the United States remains a good market for its products, which include Dove deodorant, Magnum ice cream and Lipton tea.

But it is China, where Unilever last year joined forces with ecommerce giant JD.com (JD.O) to move its products around the country, that has become the more resilient market.

Jope said China was “one of our most reliable sources of growth. China provides the new stability in consumer consumption.”

RIPPLE EFFECTS 上海夜生活论坛

The U.S.-China trade war has hit industries around the world over the past few months.

Big Chinese companies such as Alibaba (BABA.N) have shrunk their plans to invest in the United States. Taiwan-based Foxconn (2354.TW) has scaled back its plans for a Wisconsin factory, and Chinese automaker GAC Motor [GACHA.UL] has also delayed a move into the U.S. market.

In September, Austria’s fiber producer Lenzing halted a planned U.S. expansion, blaming rising tariffs be,夜上海419龙凤论坛Gabrielle,tween the United States and China.

Chinese textile exports to the U.S. are among the goods facing tariffs. Lenzing mothballed a $322 million project in Alabama to focus on setting up a new production facility in Thailand.

To be sure, foreign companies are still investing, particularly in the auto industry.

Volkswagen (VOWG_p.DE) said earlier this month that it would invest $800 million to build a new electric car at its plant in Chattanooga, Tennessee. Toyota and Mazda are working on a new assembly plant, and Daimler and BMW are investing in existing operations.

But the economic malaise driven by the upending of trade flows is hitting tech companies hard due to both supply chain disruption and the economic slowdown in China.

Apple (AAPL.O) this month warned of disappointing quarterly revenues, citing slowing iPhone demand in China. Samsung Electronics Co Ltd (005930.KS), the world’s biggest maker of smartphones and the manufacturer of chips for other smartphone makers including Apple and Huawei, said its fourth-quarter profit likely dropped 29 percent.

“For the long run… I worry that the trend will expand to many other countries and industries, and at that time… we all will be negatively affected,” Ken Hu, deputy chairman of China’s Huawei Technologies [HWT.UL], said in Davos.

Huawei, the world’s biggest producer of telecommunications equipment, is “probably suffering the most right now” because it relies on heavily integrated an,上海高端夜生活在那里Jacklyn,d globalised supply chains, Hu said.

TRUMP LOOMS LARGE

As a result of the disruption, Trump’s trade war with Chinese President Xi Jinping is looming large over Davos this year, even if neither man is here.

The International Monetary Fund trimmed its global growth forecasts on Monday and a survey by auditing and accounting giant PwC of nearly 1,400 chief executives showed increasing pessimism among business chiefs.

The PwC research showed 27 percent of executives from outside the United States see the United States as the number one place with the most potential for growth, down from 46 percent in 2018.

It’s not only economics that is clouding the skies. Foreign companies, mainly Chinese, also face tighter scrutiny when they bring deals to the United States, after the Trump administration last year strengthened the powers of the Committee on Foreign Investment (CFIUS), said Stuart Eizenstat, former U.S. ambassador to the European Union and now head of law firm Covington & Burlington LLP’s international practice.

CFIUS is an intra-agency panel that reviews acquisitions on national security grounds.

Chinese state-owned Sinochem Group [SASADA.UL], which has been in merger talks with ChemChina to create the world’s biggest industrial chemicals firm, said that it did not think it could clinch a U.S. acquisition ,夜上海论坛Quaid,in the current environment.

“You know what’s happening today, so I think you will see there will be less investment going abroad,” Sinochem Chairman Ning Gaoning said.

“The Chinese are getting quite confused. They thought they were welcome to invest in other countries. Now they realize they are not being welcomed all the time.”

Takeshi Niinami, chief executive of Japanese brewer Suntory Holdings Ltd [SUNTH.UL], told in an interview that the world has “very big emotional leaders” including one in the Washington.

    “Davos is a body to work on one voice, to give (a message that says): ‘Come on, we have to be rational,’” he said. “Business should be the one to let them cool down.”

(This story was refiled to correct ‘polices’ to ‘policies’ in headline)

Oil climbs on Venezuelan crisis despite surging U.S. supply

NEW YORK ( ) – Oil prices ,上海夜生活怎么玩Ebba,edged higher on Friday as political turmoil in Venezuela threatened to tighten crude supply, but concerns over surging U.S. fuel stocks and global economic woes weighed on sentiment.

The United States signaled on Thursday it may impose sanctions on Venezuelan exports after recognizing opposition leader Juan Guaido as interim president this week, prompting President Nicholas Maduro to cut ties with Washington.

But the ongoing U.S.-China trade dispute and broader gloom over world economic growth put a check on prices.

Brent crude oil futures ended the session at $61.64 a barrel, up 55 cents, or 0.9 percent. Brent, however, has shed about 1.7 percent since the start of trade on Monday and is on track to post its first week of losses in four weeks.

U.S. West Texas Intermediate (WTI) crude futures settled at $53.69 per ba,上海夜玩网论坛Daisy,rrel, up 56 cents, or 1.05 percent. WTI futures fell about 0.2 percent on the week, also posting the first week of declines in four weeks.

RBC Europe predicted that U.S. sanctions could nearly double projected output shortfalls from Venezuela.

“Venezuelan production will decline by an additional 300,000-500,000 barrels per day (bpd) this year, but such punitive measures could expand that outage by several hundred thousand barrels,” it said.

Still, some analysts said the possibility of immediate sanctions were unlikely.

“We view a blockade on Venezuelan imports as low probability and a last resort measure that is likely weeks if not months away should it materialize,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

“The evolving situation in Venezuela appears capable of del上海夜生活aying our expected test of $50 support.”

OUTPUT SURGE

Global oil markets are still well supplied, however, thanks in part to a spike in U.S. output.

Record U.S. production would likely offset any short-term disruptions to Venezuelan supply due to possible U.S. sanctions, Britain’s Barclays said in a note. The bank cut its 2019 average Brent forecast to $70 a barrel, from $72 previously.

U.S. energy firms this week increased the number of oil rigs operating for the first time this year. Drillers added 10 oil rigs in the week to Jan. 25, bringing the total count to 862, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday.

The output surge has swollen U.S. fuel stocks, and crude inventories rose by 8 million barrels last week, according to official data released on Thursday.

Refining profits for gasoline are crashing around the world as consumption stalls amid a huge wave of new supplies, resulting in record inventories in Asia, America and Europe.

In the U.S. market, gasoline margins sank to $5.70 per barrel on Thursday, the lowest seasonally since 2009, weighed down by weak demand for the fuel and excess supply.

Analysts have predicted a more balanced market due to a production cut pact by the Organization of Petroleum Exporting Countries (OPEC) and its allies including Russia, as well as potential export disruptions in Venezuela, Iran and Libya.

“While the current state of affairs is price constructive for oil, the market is hesita,上海夜生活群Kaiden,nt when it comes to the global outlook,” Harry Tchilinguirian, global head of commodity markets strategy at BNP Paribas, told the Global Oil Forum.

Demand may start to stutter because of a global economic slowdown, which is likely to dent fuel consumption.

A trade dispute between the United States and China and tightening financial conditions around the world have hurt manufacturing activity in most economies, including in China, where growth last year was the weakest in nearly 30 years.

According to polls of hundreds of economists worldwide, a synchronized global economic slowdown is underway and would deepen if the U.S.-China trade war escalated.

GRAPHIC-U.S. oil production & storage levels – tmsnrt.rs/2GVNTmb