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

Daily bitcoin transactions on darknet markets doubled throughout…

NEW YORK ( ) – Use of bitcoin as a form of payment doubled in 2018 on darknet market sites, where users can buy anything from illegal drugs to fake IDs, even though the price of the cryptocurrency crashed, according to a study by data firm Chainalysis.

Bitcoin transaction volumes on darknet markets rose throughout 2018 to an average of $2 million daily, nearly double the activity measured at the start of the year, according to Chainalysis.

Overall bitcoin flowing into darknet markets fell to $600 million in 2018 from $700 million a year earlier, Chainalysis found. The dip was attributable to the closure of major markets AlphaBay and Hansa in mid-2017 which hampered flows until the start of last year when transaction volumes started to steadily grow again, Kim Grauer, senior economist at Chainalysis, said in an interview.

“The reason for that drop is more law enforcement activity,” Grauer said. “It would be misleading to think that this year it (the volume) will go down.”

Bitcoin, the largest cryptocurrency, is a popular form of payment on darknet markets because users do not ,上海夜生活网交流Radley,need to reveal their identities.

,上海021夜网Jacob,In 2017 bitcoin became wildly popular with speculators who trade it on,上海凤楼夜网Sabina,line against other virtual currencies as well as hard currencies such as the U.S. dollar. Bitcoin’s price peaked in December 2017 at just above $20,000 and is now down more than 80 percent from its high.

While bitcoin’s volatility has attracted speculators, it has prevented it from becoming a more widespread form of payment in mainstream commerce. The value of bitcoins handled by major payment processors shriveled nearly 80 percent in the year to September, earlier data from Chainalysis showed.

The wild price swings have not dissuaded darknet users, Grauer said.

“For someone who wants to buy something on a dark marketplace, the fact that bitcoin price is fluctuating doesn’t really matter,” Grauer said.

However several factors could disrupt the rise of bitcoin flows into these markets this year. These include more closures of markets by law enforc上海夜生活网ement and the movement of activity from these venues to encrypted messaging apps to avoid detection, Grauer said.

Renault board meets to choose successor to Ghosn

PARIS ( ) – Renault’s (RENA.PA) board will meet on Thursday to replace Chairman and Chief Executive Carlos Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn’s arrest in Japan for alleged financial misconduct.

The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin (MICP.PA) boss Jean-Dominique Senard as chairman and the promotion of Ghosn’s deputy Thierry Bollore to CEO, three sources familiar with the matter have told .

The French carmaker has confirmed an emergency board meeting is planned for Thursday, but declined to comment on its agenda.

The decision, two months after Ghosn’s Nov. 19 arrest and swift dismissal as Nissan (7201.T) chairman, turns a page on his two decades at the helm of the partnership he transformed into a global carmaking giant, following Renault’s acquisition of a near-bankrupt Nissan in 1999.

Ghosn has been charged with failing to disclose more than $80 million in additional Nissan compensation for 2010-18 that he had arranged to be paid later. Nissan director Greg Kelly and the Japanese company it,上海仙霞路夜生活Sabine,self have also been indicted.

Both men deny the deferred pay agreements were illegal or required disclosure. Ghosn has also denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Nissan has said it takes the matter seriously and pledged to improve corporate governance.

Ghosn has now agreed to resign from Renault, the sources said – but only after the French government, its biggest shareholder,,上海021夜网Eason, called for leadership change and his bail requests were rejected by the Japanese courts.

As of late Tuesday, however, no formal resignation had been received, Finance Minister Bruno Le Maire said.

Senard, 65, faces the immediate task of soothing relations with Nissan, which is 43.4 percent-owned by Renault and the junior partner in the alliance despite making more sales.

Since Ghosn’s arrest, Nissan CEO Hiroto Saik上海夜网awa has sought to weaken Renault’s control and resisted its attempts to nominate new directors to the Japanese company’s board.

Nissan currently owns a 15 percent non-voting stake in its French parent and 34 percent in Mitsubishi Motors (7211.T), a,上海夜生活Fabian, third major partner in their manufacturing alliance.

Written by shyw on July 28, 2018 Categories: fulcmeyh Tags: , , ,

Ford fourth-quarter results weighed down by losses overseas

DETROIT ( ) – Ford Motor Co (F.N) on Wednesday posted a lower operating fourth-quarter profit as losses in every global region except North America weighed on results.

The No. 2 U.S. automaker, which has announced an alliance with Germany’s Volkswagen AG (VOWG_p.DE), is restructuring operations globally. It is making cuts in Europe, looking to reorganize its South American operations and turn around China – all unprofitable regions.

“It was not a year we were happy with and the fourth quarter continued that ,上海夜网千花Fabian,theme,” Chief Financial Officer Bob Shanks told reporters at the company’s headquarters outside Detroit. He acknowledged the potential this year for disruptions such as strikes in regions where it is restructuri,夜上海419龙凤论坛Ebba,ng.

In 2018, Ford took a $3.3 billion combined hit from higher tariffs and commodity costs, unfavorable foreign exchange and recalls related to former airbag maker Takata.

Last week, Ford provided a cloudier 2019 outlook because of tariff costs and uncertainty over Britain’s exit from the European Union, only saying it had the potential for higher earnings and revenue.

That was in contrast to Ford’s larger U.S. rival, General 上海夜生活论坛Motors Co (GM.N), which on Jan. 11 forecast higher 2019 earnings that far surpassed analysts’ estimates.

Shanks reiterated on Wednesday that Ford’s market-leading presence in Britain gave it extensive exposure to the effects of Brexit.

Ford said on Jan. 10 that it would cut thousands of jobs and look at plant closures in Europe as part of its plan to return to profit in the region.,上海夜网Gabriel,

Ford posted a fourth-quarter net loss of $116 million, or 3 cents a share, down from a net profit of $2.5 billion, or 63 cents a share, in the same quarter in 2017, largely because of one-time pension costs and other charges.

Excluding one-time charges, it earned 30 cents a share, in line with an outlook Ford executives provided last week that was shy of Wall Street’s expectations.

In North America, Ford posted a pre-tax profit of $2 billion. It saw losses in every other region, with Asia reporting the largest loss of $381 million, driven by plummeting sales in China.

On Jan. 15, Ford and VW said they would join forces on commercial vehicles and were exploring joint development of electric and self-driving technology.

On Wednesday, sources said that Germany’s automakers, including VW, were in talks to jointly develop autonomous cars. VW reiterated it was still looking for new partners, while Shanks said the companies were still in talks.

Ford, which ended 2018 with $23.1 billion in cash, previously said it remained committed to its operations in Europe and South America, and its losses in China would narrow this year. Chief Executive Jim Hackett said on Wednesday that analysts “don’t have to wait long” for Ford’s South American reorganization plan.

Ford shares rose about 1 percent to $8.41 in extended trading.

Canada should ban Huawei from 5G networks, says former spy chief

OTTAWA ( ) – Canada should ban China’s Huawei Technologies Co Ltd from supplying equipment to Canadian 5G networks because the security risk is too great, a former spy chief said in an article published on Monday.

China’s ambassador last week,上海夜生活论坛Fabian, threatened repercussions if Ottawa blocked Huawei, a ,上海夜生活Barbara,warning the Canadian government dismissed. Relations between the two nations have soured since a top Huawei executive was arrested in Vancouver last month on a U.S. extradition warrant.

Canadian officials are studying the security implications of 5G networks, the latest generation of cellular mobile communications, but their report is not expected in the immediate future, a source close to the matter said last week.

Richard Fadden, who served as the head of the Canadian Security Intelligence Service spy agency from 2009 to 2013, cited what he said was mounting evidence for blocking Huawei.

“Canada’s government should ignore the threats and ban Huawei from Canada’s 5G networks to protect the security of Canadians,” he wrote in the Globe and Mail.

Some Canadian allies have already imposed restrictions on using Huawei equipment, citing the risk of espionage.

Public Safety Minister Ralph Goodale on Monday told reporters that other companies could supply equipment for future 5G networks but did not give details.

China detained two Canadians last month after the arrest of Meng Wanzhou, Huawei’s chief financial officer and the founder’s daughter, and demanded she be released. A court later retried a Canadian who,上海新夜网龙凤Caden, had already been jailed for drug smuggling and sentenced him to death.

“If China would resort to putting Canadians to death to defend its corporate national champion, what might it do if the Chinese Communist Party had unfettered access to Canada’s vital communications networks?” said Fadden.

Neither Huawei nor the Chinese embassy responded to requests for comment.

Chinese Foreign Ministry spokeswoman Hua Chunying called Fadden’s remarks “nonsense” on Tuesday.

A group of 143 academics and former ambassadors from around th上海夜网e world on Monday released an open letter to Chinese President Xi Jinping, urging him to free the two Canadians.

“(We) must now be more cautious about traveling and working in China and engaging our Chinese counterparts,” they wrote.

“That will lead to less dialogue and greater distrust, and undermine efforts to manage disagreements and identify common ground. Both China and the rest of the world will be worse off as a result.”

John McCallum, Canada’s ambassador to China, said on Friday that his top priority was the release of the two detainees and scrapping the death penalty for the condemned man.

Hua said she thought the signatories of the letter could not represent the world and were deliberately creating an atmosphere of fear.

MGM hands board seat to activist hedge fund Corvex’s Meister

( ) – MGM Resorts International (MGM.N) has struck a deal with hedge fund Corvex Ma上海夜生活论坛nagement’s founder, Keith Meister, to give him a board seat, one week after a rival activist investor was seen building a position in the casino operator.

Corvex owns roughly 3 percent of MGM’s stock. Meister will join the board on Friday, expanding its size by one to 13 members, MGM said in a statement released late on Thursday.

MGM’s chief exec,上海夜玩网论坛Daisy,utive officer and chairman, Jim Murren, said the company and Meister have been holding “constructive dialogue” over the last several months, and he praised the investor’s track record of “helping c,上海夜网推油Naia,ompanies maximize value for shareholders as well as his experience in real estate and gaming.”

Speculation had mounted in recent days about a possible change to the board after reported that Starboard Value, led by Jeffrey Smith, had built a position in MGM and was considering pushing for changes.

In early January, MGM Resorts announced plans to cut costs and boost g,上海夜生活去哪玩Radcliff,rowth, proposing to increase annualized adjusted earnings before interest, taxes, depreciation and amortization by $300 million by the end of 2021.

“It is clear to me that MGM is focused on driving profitable growth,” Meister said in a statement, adding that he thinks he can help. Meister, who founded Corvex in 2010 after working for financier Carl Icahn, has sat on the boards of Yum Brands Inc and the Williams Companies, among others.

Since 2017 MGM said it has appointed four new independent directors, including Meister.

The gambling industry has faced a shakeup in recent years as many states that used to prohibit gaming are now permitting it.

Last year MGM’s smaller peer Caesars Entertainment Corp (CZR.O) rejected a merger approach from Tilman Fertitta, the billionaire owner of Golden Nugget Casinos. Since then speculation has mounted about Caesar’s future, especially since it was announced that Mark Frissora will be leaving as chief executive next month.

General Electric to cut close to 470 jobs in France: unions

STRASBOURG ( ) – General Electric (GE.N), which bought Alstom’s energy business in 2015, aims to slash close to 470 jobs across the division in France in the face of falling orders worldwide, unions said on Wednesday.

GE has opened negotiations to trim its staff in France under a “collective mutually agreed termination” agreement, a measure introduced in France in September 2017. An early retirement plan is also on the table, union officials said.

“In a particularly diff,上海夜网千花Gabe,icult time for the power sector, GE is currently reviewing its busin,上海夜生活服务Tamara,esses to ensure they are best fitted to market reality and ensure their success,” the company said.

Some 229 jobs could be cut at Alstom Power Systems (APS), including 146 at GE Energy’s European headquarte上海夜生活网rs in Belfort, eastern France, unions said.

Another 149 jobs could go at GE Energy Power Conversion France and 90 at GE Grid, they said.

GE employs 16,000 people in France, including 6,000 in the power branch.

When it bought Alstom’s energy business, GE had committed to maintain jobs for at least three years in France and create 1,000 net new jobs by the end of 2018.

The French government brandished the threat of fines in June 2018 afte,上海夜玩网论坛Cain,r former GE Chief Executive John Flannery told Finance Minister Bruno Le Maire that the company would fail to create as many jobs as promised.

A meeting on that issue is expected to take place at the finance ministry in coming weeks, a GE spokesman said.

McConnell says U.S. government shutdown over DACA ‘ridiculous’

WASHINGTON ( ) – U.S. Senate Republican leader Mitch McConnell said on Sunday it would be “ridiculous” for a fight with Democrats over immigration issues to result in a standoff over a year-end spending bill and prompt a shutdown of the federal government.

“There’s not going to be a government shutdown,” McConnell told ABC’s “This Week” program. “It’s just not going to happen.”

As tensions rise between the two parties over the spending bill, McConnell called the Democrats’ position “untenable,” saying Congress has until March to address the status of so-called Dreamers, young immigrants brought to the United States illegally as children.

With funding for the federal government due to run out on Friday, Republican leaders need ,上海新夜网龙凤Larissa,to put together the votes for a spending bill.

But Democrats have said they will insist on protections for Dreamers as the price of their support for a spending bill, setting the stage for a potential showdown.

“That’s a ridiculous position,” McConnell told ABC.

Although Republicans control both chambers of the U.S. Congress, at least some Democratic votes will,上海会所夜网Fabi, be needed to pass the spending bill.

In Septem,上海仙霞路夜生活Tamara,ber, Trump ended the Deferred Action for Childhood Arrivals, or DACA, program, which shields young illegal immigrants from deportation. He gave Congress six months to find a solution.

“I don’t think that Democrats would be very smart to say they want to shut down the government over a non-emergency that we can address anytime between now and March,” McConnell said. “That’s a very untenable position.”

Trump and Republican leaders want measures strengthening border enforcement to accompany any relief for the Dreamers, a stance Democrats reject.

McConnell said he was also optimistic that House and Senate Republicans could agree on unified tax legislation to send to President Donald Trump after the Senate approved its ow上海夜生活n bill on Saturday.

Chipmaker Xilinx’s 5G orders kick off race to cash in on new networks

( ) – Amid a bleak earnings season for semiconductor companies as China’s economy slow,上海夜网Caitlin,s, Xilinx Inc provided a bright spot for the sector: Revenue growth driven by the early phases of 5G wireless data networks, earlier and sharper than analysts had expected.

Those networks, up to 100 times faster than existing ones, will generate billions of dollars for gear and chips. Carriers in South Korea and China plan to roll out 5G networks this year, and handset makers, including Samsung Electronics Co Ltd , plan to make phones work on those networks.

Unexpectedly strong spending on those networks helped raise the San Jose, California-based company’s revenue 27 percent in the fourth quarter, even though most analysts believe the networks will not be widely available until 2020.

“The start of this ramp [up of 5G spending] is happening faster than we had thought,” Xilinx Chief Executive Victor Peng said on the company’s quarterly earnings call on Jan. 23. “And the strength for coming out of the gate is pretty strong.”

As the roll out accelerates, though, Xilinx will face competition from other chipmakers with similar products that allow constant tweaking of the new technology, analysts said.

And, as standards mature, the programmable chipmaker wil,上海夜生活论坛Earl,l face competition from custom made chips that are less flexible but faster and cheaper, said Kinngai Chan, an analyst with Summit Insights Group.

Intel Corp’s Altera division, for instance, also makes so-called programmable chips and is poised to benefit from 5G, though Kevin Cassidy, an analyst with Stifel, noted that the unit only makes up about 3 percent of Intel’s revenue.

Marvell Technology Group Ltd already makes a custom chip, and Qualcomm Inc is planning to release one. Some large network gear makers are making their own chips, such as Nokia’s ReefShark chipset released last year.

It typically takes at least a year for custom chips to start eating away at market share of programmable chips, said Tristan G上海夜生活论坛erra, a senior research analyst with RW Baird.

That pushes the ,上海夜生活男人好去处Kaia,risk for Xilinx losing business in China and Korea out to next year, but by that time, U.S. carriers will be busy building out networks, giving Xilinx new chances to win business.

And Xilinx, meanwhile, is selling other 5G products, such as a one-chip combination of analog radio chips and digital processors that aim to replace several components from the likes of Analog Devices and Texas Instruments.

“This integration should make Xilinx’s design wins more sticky – we think Xilinx will continue to see design win activity for 5G in multiple years ahead,” Baird’s Gerra said.

On Xilinx’s earnings call last week, its CEO pointed to those chips as a way to hang on to 5G business even as custom chips start to gain share.

Facebook likely to face two more state probes on privacy issues:…

( ) – Facebook Inc could be subjected to at least two more state probes in the United States on the alleged mishandling of user data, Bloomberg reported on Thursday.

The report, which cited people familiar with the matter, said Pennsylvania Attorney General Josh Shapiro and his Illinois counterpart Kwame Raoul have joined forces with Connecticut to focus on investigating existing allegations.

The state probes are coalescing into two main groups, the report said. The states of New York, New Jersey and Massachusetts are also probing the social media giant and are seeking to uncover any potential unknown vi,上海夜生活去哪玩Idaleen,olations.

The Illinois attorney general’s office declined to comment on Bloomberg’s report when contacted by , while the office of the attorney gener,上海凤楼夜网Kailani,al of Pennsylvania did not immediately respond to a request for comment.

Facebook told in an emailed statement it was having “productive conversations” with attorneys general from a number of states.

“Many officials have approached us in a constructive manner, focused on solutions that ensure all companies are protectin,上海夜生活男人好去处Earl,g people’s information, and we look forward to continuing to work with them,” Facebook’s vice president of state and local public policy, Will Castleberry, said.

Facebook and other tech giants have been under pressure for over a year after it was revealed that British consultancy Cambridge Analytical acquired data on millions of U.S. users to target election advertising. That led to heads of several te上海夜生活ch companies testifying before Congress last year.

U.S. consumer sentiment at two-year low, manufacturing rebounds

WASHINGTON ( ) – U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago as an ongoing partial shutdown of the federal government and financial market volatility stoked fears of a sharp deceleration in economic growth.

The drop in confidence reported by the University of Michigan on Friday is the clearest sign yet that the impasse in Washington over Trump’s demands for $5.7 billion to help build a wall on the United States’ border with Mexico was negatively impacting the economy. Trump has touted high consumer confidence as an indication of the good job he is doing on the economy.

While consumer sentiment remains relatively high, the gathering dark clouds over the economy could make households more cautious about spending, leading to slower growth. Consumer spending accounts for more than two-th,上海足浴夜网联系方式Jace,irds of the U.S. economy.

“This report on consumer sentiment is the first concrete evidence that the economy is going to fall and fall hard if Washington does not end the shutdown,” said Chris Rupkey, chief economist at MUFG in New York. “It is going to be hard to see real GDP growth of more than 1 to 1-1/2 percent in the first quarter if the consumer goes on a buying strike.”

The longest government shutdown in the history of the United States has left some 800,000 government workers without a paycheck. Private contractors working for many government agencies are also without wages.

The University of Michigan said its consumer sentiment index fell 7.7 percent to a reading of 90.7 this month, the lowest reading since October 2016 and the steepest drop since September 2015. Economists had forecast a reading of a 97.0.

The survey’s measure of current economic conditions decreased to 110.0 from a reading of 116.1 in December. Its measure of consumer expectations tumbled to a reading of 78.3, the lowest since October 2016, from 87.0 in late December.The University of Michigan attributed the decline in sentiment to “a host of issues including th上海夜生活网e partial government shutdown, the impact of tariffs, instabilities in financial markets, the global slowdown, and the lack of clarity about monetary policies.”

It said that half of the survey’s respondents “believed that these events would have a negative impact on Trump’s ability to focus on economic growth.”

Economists estimate the partial shutdown of the government, which started on Dec. 22, is subtracting as much as two-tenths of a percentage point from quarterly GDP growth every week.

Other surveys have also shown an ebb in business sentiment.

“Sentiment among both households and businesses has been coming off the sugar highs, which were caused by tax cut hopes at the beginning of the Trump presidency,” said Harm Bandholz, chief U.S. economist at UniCredit in New York.

U.S. financial markets shrugged off the fall in sentiment, with investors focusing on another report on Friday showing manufacturing output surged by the most in 10 months in December and on hopes for progress in the U.S-China trade row.

Stocks on Wall Street rallied, setting the three main indexes on track for their fourth week of gains. The dollar rose against a basket of currencies, while U.S. ,上海夜生活Barney,Treasury prices fell.

FACTORY ACTIVITY ACCELERATES

The broad-based jump in manufacturing output in December reported by the Federal Reserve could allay fears of a sharp slowdown in factory activity.

Manufacturing activity, which accounts for about 12 percent of the economy, is slowing as some of the boost to capital spending from last year’s $1.5 trillion tax cut package fades. In addition, a strong dollar and cooling growth in Europe and China are hurting exports. Lower oil prices are also slowing purchases of equipment for oil and gas well drilling.

Production at factories increased at a 2.3 percent annualized rate in the fourth quarter after expanding at a 3.7 percent pace in the July-September period. It increased 2.4 percent in 2018, the largest gain since 2012, after advancing 1.2 percent in 2017.

“While the manufacturing strength in December is a favorable signal for the economy, we should keep in mind that it came after soft results in earlier months,” said Daniel Silver, an ec,上海021夜网Macey,onomist at JPMorgan in New York.

“A broad range of manufacturing surveys also have been weakening lately, so the strength in the manufacturing output in December may prove to be short-lived.”

Last month, motor vehicle production surged 4.7 percent after gaining 0.2 percent in November. Excluding motor vehicles and parts, manufacturing advanced a solid 0.8 percent last month after gaining 0.1 percent in November.

December’s 1.1 percent surge in manufacturing output, together with a rise in mining production, offset a weather-related drop in utilities, leading to a 0.3 percent increase in industrial production. Industrial output rose 0.4 percent in November. It increased at a 3.8 percent rate in the fourth quarter after notching a 4.7 percent gain in the third quarter.

New Unilever CEO inherits disappointing sales performance

LONDON ( ) – Unilever reported lower-than-expected fourth-quarter sales on Thursday, hurt by troubles in Latin America and weak growth in developed markets as new Chief Executive Alan Jope took over.

The maker of Dove soap and Ben & Jerry’s ice cream said fourth-quarter underlying sales rose 2.9 percent. Analysts, on average, were expecting 3.5 percent, a consensus forecast supplied by the company showed.

Jope, who has been with the company for more than three decades, took charge at the start of the year.

He succeeded Paul Polman, who retired after a decade as CEO during which he drove Unilever toward a vision of a company that valued sustainability as well as profits.

The end of his tenure was marred by a dispute with shareholders over a botched attempt to shift the Anglo-Dutch company’s main headquarters to the Netherlands.

Jope said Unilever was still considering collapsing the company’s dual-headed corporate structure, an issue he told reporters was “important but not urgent”.

Jope appears focused for the moment on improving business trends at the group, whose sales are at the bottom end of its medium-term targets, due to issues including hyperinflation in Argentina, intense competition in North America and weak retail environments in France and Germany.

,上海夜哪里艳遇Queena,Related CoverageUnilever preps for no-sweat Brexit with Magnum ice creams, deodorants

“Let me state… upfront, that accelerating quality growth will be my number-one priority,” Jope told analysts.

Unilever shares fell 2.5 percent as the sales miss overshadowed full-year earnings that were ahead of expectations.

“With growth weak but H2 margins strong, we expect this to fuel the ongoing debate on Unilever’s top line versus bottom line,” Jefferies analysts said.

CHALLENGING CONDITIONS

Unilever reported full-year sales growth of 3.1 percent, in line with its forecast for growth at the bottom end of its 3 to 5 percent forecast range.

Looking ahead, it said it expects 2019 market conditions to remain challenging and forecast underlying sales growth again in the lower half of a 3 to 5 percent range, with continued improvement in underlying operating margin and another year of strong free cash flow.

For the forecast to come up to the top half of the range, Jope said he would want to see a sustained turnaround in Latin America and continued improvement in Southeast Asia. Noting problems in Argentina and Brazil, he called Latin America the most troubled part of the world.

“Of course we’d prefer th上海夜生活e top half of the range, but in the current uncertain market conditions … the lower half is where I expect us to be operating,” Jope said.

He noted also that the boost to sales growth the company had forecast from M&A was being reduced by the poor performance in China of Blueair, a line of air purifiers it bought in 2016. The business doubled in size from the time of acquisition, but has since shrunk back to where it was.

Unilever is also preparing for the United Kingdom to leave the European Union without a deal, stockpiling a few weeks’ worth of extra inventory of some products to guard against supply disruptions. This includes deodorants made in Britain and ice creams made in continental Europe, it said on Thursday.

NEW BOSS, SAME TARGETS

Jope has already embraced the 2020 targets Polman set for Unilever in the wake of 2017’s rebuffed $143 billion takeover bid by Kraft Heinz. The target calls for an operating margin of 20 percent.

He ,上海夜网后花园Tabitha,said on Thursda,夜上海论坛Octavia,y that Unilever remained on track for its 2020 goals.

“There’s nothing new about the intention, but so far at least the reality has failed to live up to it,” said analysts at RBC Capital Markets, referring to Jope’s stated focus on accelerating growth.

In the fourth quarter, Unilever blamed Argentina, which makes up 2.5 percent of its overall business, for hyperinflation that led prices to spike more than 50 percent and therefore volume to fall more than 20 percent.

But more broadly, sales volume in the Americas was flat. The same happened in Europe, though the company eked out 0.8 percent sales growth in the region. Overall, underlying sales in developed markets grew only 0.4 percent in the quarter.

The company blamed declines in France and competitive pressures in North America, particular in ice cream and mayonnaise.

For the full year, Unilever reported turnover of 49.6 billion euros ($57.05 billion), excluding its divested spreads business, with underlying sales up 3.1 percent, in line with expectations. Its full-year underlying earnings were 2.36 euros per share, topping analysts’ estimates of 2.31 per share.

($1 = 0.8693 euros)

Lockheed forecasts 2019 profit below view, but sees higher cash flow

( ) – Lockheed Martin Corp, the Pentagon’s top weapons supplier, on Tuesday forecast 2019 profit below estimates and reported that quarterly margins slipped at the unit that makes the radar-evading F-35 fighter jet and C-130 transport plane.

Operating margins at the aeronautics division, Lockheed’s biggest, fell to 10.6 percent in the fourth quarter from 11.6 percent a year earlier.

Chief Financial Officer Bruce Tanner told investors on a conference call the aeronautics business posted lower margins because the unit was investing in new business lines.

Margins also took a hit on lower sales in the C-130 transport aircraft program. Operating margins measure how much profit a company makes on a dollar of sales.

The company planned to invest as much as $1.7 billion in 2019 to support growth in its space unit as well as several classified business lines, Tanner said, citing hypersonic weapons a上海夜生活s a growing area of investment.

Lockheed and other U.S. weapons makers sales are expected to benefit from stronger global demand for fighter jets and munitions and higher U.S. defense budgets in fiscal 2020.

Jim Corridore, an analyst at CFRA Research, wrote in a note that Lo,上海夜生活Eason,ckheed was expected to “benefit from strong FY 19 military funding in aeronautics and missile systems, while space systems should also see growth.”

Shares rose half a percent to $289.20 as the company also forecast cash from operations in 2019 at $7.4 billion, higher than its outlook of $7 billion three months ago. The stock has tumbled 24 percent in the fourth quarter on fears of slowing global growth.

During the quarter, Lockheed’s order backlog grew 19 percent to $130.5 billion from $109 billion.

Lockheed expects full-year profit to range between $19.15 and $19.45 per share, below the average analyst estimate of $19.55, according to IBES data from Refinitiv.

U.S. allies showed increased interest in purchasing the F-35 jet during the quarter, which offset som,上海晚上耍女人的地方Queena,e headwinds caused by the C-130 weakness.

Belgium chose to replace its aging F-16s with F-35s in a $4 billion euro ($4.55 billion) deal in October.

Japan and the United Kingdom both increased their existing orders for the stealth jets.

The company finished the year delivering 91 F-35 jets in 2018, up from 66 jets a year earlier. Lockheed has said it aims to deliver more than 1,上海足浴夜网联系方式Hadrian,30 F-35s in 2019. On the call, Tanner said that number would be above 160 in 2021.

Sales at the company’s missiles and fire control business, which makes PAC-3 missiles for the Patriot missile defense system and the Terminal High Altitude Area Defense system (THAAD), designed to shoot down short-, medium-, and intermediate-range ballistic missiles, rose 22 percent to $2.4 billion during the fourth quarter.

In late November, Saudi Arabia agreed on a $15 billion deal to buy the THAAD system.

The company earned $4.39 per share from continuing operations, just short of estimates of $4.40 per share.

Net sales rose 4.1 percent to $14.41 billion.

During the quarter Lockheed had an effective tax rate of 13.6 percent which gave it a full-year tax rate of 15.5 percent following corporate tax reform in the United States.

Boeing-Lockheed’s Vulcan rocket design ‘nearly fully mature’

CAPE CANAVERAL, Fla. ( ) – A joint venture between Boeing Co (BA.N) and Lockheed Martin Corp (LMT.N) will conduct the final design rev,上海夜生活男人好去处Babette,iew for its new flagship Vulcan rocket within months, it said on Wednesday, as the aerospace com,夜上海419龙凤论坛Jackson,pany heads for a showdown with Elon Musk’s SpaceX and others in the launch services market.

The final design review is a crucial milestone as the company, United Launch Alliance (ULA), tries to move into full production ahead of a first flight in spring 2021 after slipping from its initial 2019 timetable.

“The design is nearly fully mature,” ULA systems test engineer Dane Drefke told during a tour of Space Launch Complex 41 at Cape Canaveral Air Force Station in Florida.

The companies are vying to develop rockets to carry satellites into orbit in what the Satellite Industry Association lobby group estimates is a roughly $5.5 billion satellite launch services market.

ULA has started cutting and building hardware and has begun structural and pressure testing at its Decatur, Alabama factory. Engineers were also modifying the Florida launch pad and tower to accommodate Vulcan.

ULA’s legacy Atlas and Delta rockets have been synonymous with America’s space missions for decades. But the Colorado-based company has waged a cost-cutting campaign in recent years that included job cuts and trying new production methods as it faces mounting competition from Spa,上海夜网千花Babette,ceX.

Musk has upended the industry with reusable rocket technology that has slashed the cost of space transportation.

And Amazon.com Inc (AMZN.O) founder Jeff Bezos’ Blue Origin said last week it will fly its still-in-development New Glenn rocket in 2021 – the same year as Vulcan.

While ULA’s rockets burn up during each voyage, making for reliable but costlier missions, the company is charting a strategy of returning the first-stage engine to Earth under a parachute and plucking it out of mid-air with a helicopter.

ULA does not envision more job cuts and has been adding engineers in Florida and elsewhere, it said on Wednesday.

“We are now optimal-sized,” Drefke said, adding that ULA will be hiring more engineers as it moves into production.

The Vulcan, which will be powered partly by Blue Origin’s U.S.-built BE-4 engine, is central to ending U.S. reliance on Russia’s RD-180 engine for national security missions.

ULA confirmed new purchases of at le上海夜生活网ast five more RD-180s in recent months for non-military missions, like commercial satellite launches.

Meanwhile, Blue Origin has hit “a few minor setbacks” during rigorous BE-4 testing but was “progressing nominally” and was expected to live up to delivery targets, Drefke said.

Blue Origin did not immediately respond to a request for comment.

Trump won’t soften hardline on China to make trade deal: advisers

WASHINGTON ( ) – As much as U.S. President Donald Trump wants to boost markets through a trade pact with China, he will not soften his position that Beijing must make real structural reforms, including how it handles intellectual property, to reach a deal, advisers say.

Offering to buy more American goods is unlikely by itself to overcome an issue that has bedeviled talks between the two countries. Those talks are set to continue when Chinese Vice Premier Liu He visits Washington at the end of January.

The United States accuses China of stealing intellectual property and forcing American companies to share technology when they do business in China. Beijing denies the accusat,上海夜生活桑拿会所Cain,ions.

With a March 1 deadline approaching to reach an agreement or risk an escalation of tariffs on another $200 billion worth of Chinese goods, the two sides are still far apart on key, structural elements critical for a deal, according to sources familiar with the talks.

“We’re not yet in a position where our concerns have been addressed sufficiently,” one U.S. official said, speaking on condition of anonymity. The official said the Trump team, led by hardline U.S. Trade Representative Robert Lighthizer, was focused on such structural issues as well as trade imbalances.

White House economic adviser Larry Kudlow told that forced technology transfers, IP theft and ownership restrictions remained a top priority for Trump.

“The president’s said many times how crucial that is, and he’s not going to back down,” Kudlow said.

Lack of progress led the Trump administration to decline an in-person meeting with a lower-level Chinese delegation for preparatory talks ahead of Liu He’s visit, a source familiar with the situation told .

The Financial Times also reported that an offer for preparatory meeting was rejected, but White House officials pushed back on the suggestion that any meeting was canceled.

“With respect, the story is not true,” Kudlow told CNBC, referring to the FT report.

“The teams remain in touch in preparation for high-level talks with Vice Premier Liu He at the end of this month,” said White House spokeswoman Lindsay Walters.

Trump and Chinese President Xi Jinping agreed on a ceasefire in their trade war at the G20 meeting in Buenos Aires last year, setting a 90-day period to discuss differences and,上海会所夜网Octavia, agree a deal.

Those talks have yet to produce anything on paper.

“There’s progress in that the two sides are talking. But I look at it like this: there’s still nothing agreed on in writing,” said one source familiar with the discussions.

Trump has painted developments in the U.S.-China trade talks as largely positive, aware of the effect that the tensions have had on stock markets.

The S&P 500 registered its biggest four-week percentage gain since 2011 on Friday after dropping nearly 20 percent from its record September close on Christmas Eve. The benchmark index lost ground on Tuesday after a national holiday on Monday.

“We’ve really had a very extraordinary number of meetings, and a deal could very well happen with China. It’s going very well,” Trump told reporters at the White House on Saturday.

China has offered more than $1.2 trillion in additional commitments on trade, Treasury Secretary Steve Mnuchin said last month.

That is not sufficient for Trump or his team.

“To think that this is going to end with simple ‘上海夜生活commitments,’ I think, is overlooking the historical experience that we’ve had,” the U.S. official said.

Chinese officials pledged to buy enough U.S. products to wipe out the U.S-China trade deficit at talks in Beijing earlier this month but also hedged its posit,上海夜网后花园Gabe,ion, saying it depended on the demands of Chinese companies, said Scott Kennedy, director of the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies.

The Chinese have indicated they feel they already addressed U.S. concerns about intellectual property rights through a new law and other actions, Kennedy said.

“These weren’t sufficient to satisfy the U.S. negotiation team. So we’ll see if the Chinese give any more on those or if they still try to focus on sweetening the purchases side, and hoping that Trump bites on the potential big numbers,” he said.

Barring progress at the end of the 90-day period, the Trump administration is scheduled to increase tariffs on $200 billion worth of Chinese goods from the current 10 percent to 25 percent.

“All I’ll say is the meetings coming up at the end of the month with Liu He are very important,” Kudlow said.

Third former Tesco director cleared of fraud over 2014 scandal

LONDON ( ) – The last of three former senior directors of Tesco (TSCO.L) accused of fraud at Britain’s biggest retailer in 2014 has been formally acquitted, leaving the Serious Fraud Office without a conviction for the accounting scandal.

Carl Rogberg, 52, a former Tesco UK finance director, was tried last year along,上海凤楼夜网Hadrian, with former UK managing director Christopher Bush, 53, and former UK food commercial director John Scouler, 50. The trial was abandoned in February after Rogberg suffered a heart attack.

Bush and Scouler were acquitted in December at the mid-point of a retrial, the judge ruling there was no case to answer. Rogberg was removed from the re-trial indictment due to ill-health and was formally acquitted at Southwark Crown Court on Wednesday with the SFO offering no evidence.

“It is a huge relief that this day has finally come,” Rogberg said outside the London court.

“While I always had faith that it would, the journey here has not been an easy one,” he said, noting the toll ,上海仙霞路夜生活Talon,it had taken on his health, family and friends.

Echoing comments from Bush and Scouler in December, Rogberg was critical of the Serious Fraud Office (SFO), which brought the case, and of Tesco.

“In short, there was never any evidence of my wrongdoing and I should never have been charged,” he said.

Rogberg said Tesco rushed to the wrong judgment and then entered into a Deferred Prosecution Agreem,上海夜生活去哪玩Caitlin,ent with the SFO “on a completely false basis”.

The SFO said on Wednesday Tesco’s UK business had in 2014 created a false account of its financial position by overstating its profits.

“The DPA clearly outlines the extent of this criminal conduct for which the company has accepted full responsibility,” said SFO Director Lisa Osofsky.

Tesco’s UK unit Tesco Stores Limited agreed the DPA with the SFO in March 2017, paying a 129 million pound ($168 million) fine to settle a case against the company and avoid a criminal conviction. Tesco also paid 3 million pounds of investigation costs.

‘CONTRADICTORY OUTCOMES’

The case stemmed from Tesco overstating a profit fore上海夜生活网cast in 2014 by more than 250 million pounds, mainly due to booking commercial deals with suppliers too early.

Bush, Scouler and Rogberg were each charged by the SFO in September 2016 with one count of fraud by abuse of position and one count of false accounting.

Rogberg’s acquittal meant reporting restrictions relating to publication of the DPA were lifted.

Rogberg’s lawyer, Neil O’May of Norton Rose Fulbright, said the DPA was “plainly wrong” as it was based on the assumption of the guilt of the three former directors.

Bush’s lawyer, Ross Dixon of Hickman & Rose, said the case had exposed the fundamental unfairness of DPAs.

“We now have two contradictory outcomes: that of the criminal trial in which the allegations were dismissed for lack of evidence, and the DPA, based on the same allegations, which tells a different story.”

Tesco said the DPA was approved in 2014 by a senior High Court judge, Brian Leveson, “as being in the interests of justice.”

Tesco’s current chief executive, Dave Lewis, replaced Philip Clarke, shortly before the accounting scandal plunged the retailer into the worst crisis in its history, and has since re-built the company.

($1 = 0.7679 pounds)

Boeing to decide in 2020 whether it will launch new mid-sized jet

SEATTLE ( ) – Boeing Co said on Wednesday it would make a final launch decision in 2020 on its proposed new mid-sized jetliner, depending on the results of a round of commercial pre-marketing which it may begin this year.

Boeing Chief Executive Officer Dennis Muilenburg, who previously spoke of a launch decision in 2019,上海夜生活 said no decision has yet been made on whether to provisionally offer the aircraft to airlines in order to test demand.

But if it does so, that would happen this year, followed by a decision on whether to go ,夜上海419龙凤论坛Quaid,ahead with the industrial launch, which typically marks the official start of the developme,上海凤楼夜网Nadine,nt work for a new aircraft in 2020.

“So this year’s decision is what we call authority to offer,” Muilenburg told analysts on a conference call after the company reported better-than-expected results. “That’s based on the business case and our ability to go and have deep, detailed discussions with customers.”

,上海会所夜网Barrett,

“And then, depending on the market response and our ability to build the right kind of group of launch customers, then we get to an official launch, or authority to launch, decision next year,” he said.

Whether or not Boeing moves forward with the new mid-sized plane, known as NMA, to serve a niche market falling between narrow- and wide-body aircraft is expected to reshape competition with arch-rival Airbus SE which dominates the top end of the medium-haul sector.

The clock is ticking. Boeing’s plane must enter the market in 2025, when airlines will be retiring Boeing 757s and 767s, with Airbus poised to scoop up new plane orders.

In July, Muilenburg said, “we’re looking at making a launch decision in 2019.” Muilenburg at the time said Boeing was working to protect 2025 as the entry-into-service date that “aligns with our customers’ needs and desires.”

Tokyo court denies latest bail request of Nissan’s Ghosn

TOKYO ( ) – Carlos Ghosn’s latest request for bail was rejected by a Tokyo court on Tuesday, despite the ousted Nissan chairman offering to wear an electronic ankle tag in an unusual bid to win release after two months of detention for alleged financial crimes.

The ruling, widely anticipated, raises the likelihood that the 64-year-old executive will remain in custody until his trial, and will put pressure on Nissan’s (7201.T) French partner Renault SA (RENA.PA) to find his successor as chairman and CEO.

Renault’s board is expected to meet in the coming days to decide who will succeed Ghosn, essentially removing him from the three-way alliance – which also includes Mitsubishi Motors (7211.T) – which has been in turmoil since his arrest.

Ghosn was almost immediately ousted from the chairmanship of Nissan and Mitsubishi after his initial arrest on Nov. 19, but remains chairman and CEO of their French partner.

He has been officially charged for under-reporting his salary for eight years through March 2018 and temporarily transferring personal financial losses to Nissan’s books. Ghosn denies the charges.

,上海夜生活Quay,

The court did not give a reason for the denial. Bail is rarely granted for defendants in Japan without a confession.

Ghosn’s lawyer was not immediately available for comment after the Tokyo District Court announced its decision.

Ghosn’s latest bail request had also included an offer to hire guards to monitor him and a promise to remain in Tokyo, where he has leased an apartment. He offered to post stock he owns in Nissan as collateral, his spokeswoman said.

An earlier request for bail was denied last week due to concerns the executive, who holds French, Lebanese and Brazilian citizenship, was a flight risk, and that he may tamper with evidence if released.

In a statement released on Monday, Ghosn repeated his intent to clear his name in court.

“I will attend my trial not only because I am legally obligated to do,上海夜生活去哪玩Nadia, so, but because I am eager to finally have the opportunity to defend myself,” he said.

“I am not guilty of the charges against me and I look forward to defending my reputation in the courtroo上海夜生活m.”

PARTNERSHIP IN TURMOIL

The arrest of the once-feted executive who orchestrated the turnaround of Nissan two decades ago, has clouded the future of the partnership between Nissan and Renault.

Ghosn had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese firm.

On Monday, Nissan CEO Hiroto Saikawa said it was not the time to discuss revising the partners’ compl,上海夜哪里艳遇Hal,icated capital ties. Local media have reported that a French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company.

Renault owns a 43.4 percent stake in Nissan, which in turn holds a non-voting 15 percent stake in Renault. The French government owns a 15 percent voting stake in Renault.

Nissan, which has been conducting an internal probe into misconduct by Ghosn, believes he misused company funds for personal purposes, including payments related to his compensation, his residences dotted around the globe, and payments to family members, people with knowledge of the issue have told .

Written by shyw on July 8, 2018 Categories: koalttsm Tags: , ,

Trump, on possibility of North Korea talks, says: ‘Who knows where…

WASHINGTON/SEOUL ( ) – U.S. President Donald Trump said on Wednesday after the first intra-Korean talks in over two years that the United States was willing to speak to North Korea “under the right circumstances,” although it was far from clear whether this would pay dividends.

South Korea said Trump had also said in a phone call with its President Moon Jae-in that there would be no military action while North-South talks were going on and that a Wall Street Journal article saying he was contemplating a military strike against North Korea was “completely wrong.”

“Who knows where it leads?” Trump told reporters at the White House after his call with Moon to discuss Tuesday’s North-South talks, the first since 2015.

He said Moon told him the talks went well, and added: “Hopefully it will lead to success for the world, not just for our country, but for the world. And we’ll be seeing over the next number of weeks and months what happens.”

At a later news conference with the visiting Norwegian prime minister, Trump said the United States had problems with North Korea, but “a lot of good talks are going on right now.”

“I see a lot of good energy. I like it very much … So, hopefully, a lot of good things are going to work out.”

“I think that we will have peace through strength,” he said, a reference to his policy of maintaining a powerful U.S. military.

South Korea’s Presidential Blue House said both men had said the dialogue “could naturally lead to talks between the United States and North Korea for the denuclearization of the Korean peninsula after the Pyeongchang Winter Olympics.”

At Tuesday’s intra-Korea talks, North Korea said it would attend the Olympics, which South Korea will host next month, while both sides agreed to resolve problems between them through dialogue and to revive military consultations to avoid accidental conflict.

However, Pyongyang said it would not discuss its nuclear weapons because they were aimed only at the United States and not its “brethren” in South Korea, or Russia or China, showing that a diplomatic breakthrough to the crisis remained far off.

While Washington has welcomed the talks as a first step toward solving the crisis over North Korea’s program to develop nuclear missiles capable of reaching the United States, it has reiterated that any talks involving the United States must be aimed at North Korea’s denuclearization.

The White House said Trump told Moon the United States was willing to talk to North Korea “at the appropriate time and under the right circumstances.”

Trump, who has swung between hurling insults and threats at North Korea to expressing a willingness to 上海夜生活论坛talk, said on Saturday he would be willing to speak to North Korean leader Kim Jong Un, though not without pre-conditions.

An unsourced article in the Wall Street Journal on Tuesday said U.S. officials were debating whether it was possible to mount a limited military strike against North Korea without igniting an all-out war.

The Trump administration has said it prefers a diplomatic solution, but that all options are on the table, including military ones.

U.S. officials say Trump has been considering a number of military options, including a preemptive strike on a missile or nuclear fa,夜上海419龙凤论坛Larissa,cility, but officials and analysts have warned of the risks of triggering a catastrophic wider conflict.

A new dawn: tmsnrt.rs/2Ar8lUu

North Korea and South Korea begin talks: tmsnrt.rs/2miGPDI

MOON CREDITS TRUMP FOR TALKS

Earlier on Tuesday, Moon made a point of crediting Trump for the Korean talks and also said he himself was open to meeting with Kim at any time if conditions were right and “certain achievements are guaranteed”.

“The purpose of it shouldn’t be talks for the sake of talks,” he told a news conference, while warning that Pyongyang would face stronger sanctions if “provocations” continued.

North Korea ramped up missile launches last year and conducted its sixth and most powerful nuclear test, prompting a U.S.-led campaign to impose some of the strongest international sanctions yet, which Pyongyang dubbed an “act of war”.

Trump and Kim have exchanged threats and insults over the past year, raising fears of war. South Korea and the United States are technically still at war with the North after the 1950-53 Korean conflict ended with a truce, not a peace treaty.

Washington and Seoul opened the way for the talks last week when they announced the postponement of joint military exercises that Pyongyang has denounced as a rehearsal for invasion.

Washington had raised concerns that a New Year overture from Kim that led to the talks could be aimed at driving a wedge between the allies, but Moon said he and Washington did not differ over how to respond to North Korean threats.

“This initial round of talks is for the improvement of relations between North and South Korea. Our task … is to draw North Korea to talks aimed at the denuclearization of the North,” Moon said. “(It’s) our basic stance that will never be given up.”

The United Nations Security Council said following a briefing on the talks that it hopes “that such interactions will lead toward the denuclearization of the Korean peninsula.”

Olof Skoog, Swedish ambassador to the U.N., said his nation had called for the briefing because it was important for the Security Council to remain active and united in its efforts to resolve the Korean conflict.

On an agreement on continued military-to-military talks and the reopened inter-Korean military hotline, Skoog said: “We have consistently underlined the importance of these channels of communication to avoid misunderstanding and to reduc,上海夜生活论坛Daisy,e tensions.”

North Korea’s official Rodong Sinmun newspaper said all problems would be resolved through the efforts of the Korean people alone.

“If the North and South abandon external forces and cooperate together, we will be able to fully solve all problems to match our people’s needs and our joint prosperity,” it said.

In spite of the hopeful words about the potential for future talks, the U.S. intelligence assessment of North Korea’s weapons programs has not altered, officials say.

U.S. officials familiar with the classified analysis say the consensus is t,上海会所夜网Babette,hat Kim remains convinced that the United States is determined to overthrow him and that only a nuclear arsenal that threatens America can deter that.

One official said the North-South talks were likely to follow the pattern of past diplomatic efforts, in which North Korea has benefited from aid without making concessions.

Lee Woo-young, a professor at Seoul’s University of North Korean Studies, said it was wise of Moon to praise Trump.

“By doing that, he can help the U.S. build logic for moving toward negotiations,” he said.

The United States and Canada are due to host a conference of about 20 foreign ministers next week in Vancouver to discuss North Korea, without the participation of China, Pyongyang’s sole major ally and biggest trade partner.

The State Department said the talks, which will involve countries that supported South Korea in the Korean War, would look at ways both to increase the U.S.-led pressure campaign on North Korea and take diplomatic efforts forward.

“The pressure campaign is intended to lead to credible negotiations on denuclearization,” a spokesman said.

China said it was opposed to the meeting as it would not help reduce tensions.

Blackstone earnings sink 42 percent on lower fees; managed assets…

NEW YORK ( ) – Blackstone Group LP, the world’s largest manager of alternative assets, said on Thursday fourth-quarter earnings slumped 42 percent from a year earlier to $722 million, hurt by lower performance fees.

Distributable earnings – the actual cash available for paying dividends – were 57 cents per unit in the fourth quarter, compared with $1 per unit a year earlier, when earnings were boosted by a windfall from the sale of European warehouse firm Logicor.

Fee-related earnings, the amount Blackstone earns from management fees and a component of distributable earnings, were up 23 percent year on year at $433 million. Assets managed by Blackstone hit a record $472 billion at the end of 2018.

Despite the earnings drop, the results were described as “modestly positive” by Credit Suisse analyst Craig Siegenthaler, who rates the stock “outperform.”

At midday, Blackstone shares were up 1.7 percent at $33.70.

Blackstone, which manages assets like private equity and real estate, also said it would pay a quarterly distribution of 58 cents per common unit, slightly ahead of analysts’ estimates for 57 cents, according to Refinitiv data. ,夜上海419龙凤论坛Macey,

The firm’s private equity portfolio was down 2.9 percent in the quarter as the benchmark S&P 500 stock index dropped about 14 percent, its worst three months in more than 7 years. Its private equity ,上海夜网邀请码Quay,portfolio surged 19.1 percent for 2018. ,上海夜网后花园Eason,

Peer Apollo Global Management上海夜生活论坛 on Thursday reported its private equity fund depreciated 10.9 percent in the quarter and was down 9.8 percent for 2018.

Blackstone said its dry powder – the amount it has raised from investors but yet to invest – hit $112.9 billion, and firm President and Chief Operating Officer Jonathan Gray said the recent market volatility has created a buying opportunity.

“With pricing for risk assets down meaningfully over the past 6 months, it’s a more interesting time to deploy capital globally,” Gray said in an earnings call.

Blackstone said last week it would focus on distributable earnings as its primary performance metric, instead of economic net income, or ENI, a non-GAAP measure that reflects the mark-to-market valuation gains or losses on its portfolio.

The move follows those of peers KKR & Co and Carlyle Group in dropping the esoteric ENI metric, as they try to make their businesses easier for investors to understand.

Under generally accepted accounting principles, Blackstone posted a net loss attributable to the firm of $10.9 million for the quarter.

Rival Apollo reported an ENI per share loss for the last quarter of 2018.

GM halts operations at 11 Michigan plants after utility’s urgent…

WASHINGTON ( ) – General Motors Co said late on Wednesday it will temporarily suspend operations at 11 Michigan plants and its Warren Tech Center after a utility made an emergency appeal to users to conserve natural gas during extreme winter cold.

Fiat Chrysler Automobiles NV also said it had canceled a shift on Thursday at both its Warren Truck and Sterling Heights Assembly plants and was considering whether it would need to cancel additional shifts.

GM said it had been asked by Consumers Energy, a unit of CMS Energy Corp, to suspend operations to allow the utility to manage supply issues after extreme cold temperatures and a fire at a compressor station.

It said workers were told not to report for the shifts at its Orion Assembly, Flint Assembly, Lansing Delta Town,上海足浴夜网联系方式Hadley,ship Assembly and Lansing Grand River Assembly plants, as well as other stamping and transmission plants on Wednesday evening and early Thursday. GM said it was still assessing when employees could return to work.

Workers at its Warren Tech Center were also told to stay home on Thursday.

In a video message posted on Facebook, CMS Energy Chief Executive Patricia Poppe said large companies,,夜上海419龙凤论坛Tallulah, including Fiat Chrysler, Ford Motor Co and GM, had agreed to “interrupt” production schedules through Friday to tackle the issue prompted by a fire at a Michigan facility and the record-breaking cold.

Poppe said the usage cuts by large businesses were not enough, and urged 1.8 million Michigan customers to turn down thermostats as much as they could to cut natural gas use in order to protect critical facilities like hospitals and nursing homes. “I need you to take action right now,” she said.

Ford Motor said it had also taken steps to reduce energy use at its four Michigan plants supplied by Con,上海夜生活男人好去处Gabi,sumers Energy, but added the situation remained fluid.

A spokeswoman said it had reduced heating levels at Livonia Transmission and Van Dyke Transmission, stopped heat treatm上海夜网ent processes at Sterling Axle and shut down the paint process at Michigan Assembly.

Consumers Energy sent an alert to mobile phones in Michigan asking residents to reduce natural gas use.

In a Twitter message, Consumers Energy warned that “without additional reductions, we run the risk of not being able to deliver natural gas to families and critical facilities across Michigan – a scenario none of us want to encounter.”

Consumers Energy said a fire at a gas compressor station in Michigan’s Macomb County Wednesday forced it to halt gas flow from the compressor station until safety and damage assessments could be completed.