上海夜生活,上海夜生活网,上海夜网论坛 - Powered by March 2019

U.S. will seek extradition of Huawei CFO from Canada

WASHINGTON/DAVOS, Switzerland ( ) – The U.S. Justice Department said on Tuesday,上海夜生活网交流Paige, it will pursue the extradition of the chief financial officer of China’s Huawei Technologies Co Ltd’s, arrested in Canada in December.

The United States has accused Meng Wanzhou of misrepresenting the company’s links to a firm that tried to sell equipment to Iran despite U.S. sanctions. The arrest soured ties between Canada and China, which subsequently detained two Canadians,上海夜玩网论坛Jace, and sentenced a third to death.

The U.S. statement came a day after a report that Canada’s ambassador to the United States said his government was told Washington planned to proceed.

“We will continue to pursue the extradition of defendant Ms. Meng Wanzhou, and will meet all deadlines set by the U.S.-Canada Extradition Treaty,” Justice Department spokesman Marc Raimondi said in a statement.

“We greatly appreciate Canada’s continuing support of our mutual efforts to enforce the rule of law.”

Huawei Chairman Liang Hua told media at the World Economic Forum in Davos on Tuesday that the company was following the issue closely and wanted a quick resolution of the case, but had no direct contact with authorities.

The United States must file a formal request for extradition by Jan. 30. Once it is received, a Canadian court has 30 days to determine if there is enough supporting evidence and the Canadian justice minister must issue a formal order.

Canada has not asked the United States to drop its bid to have Huawei executive Meng Wanzhou extradited, Foreign Minister Chrystia Freeland told Bloomberg TV in an interview.


Huawei, the world’s biggest producer of telecoms equipment, faces U.S.-led allegations that its devices present a national security risk. Huawei says such concerns are unfounded.

In an editorial on Wednesday, the state-run China Daily newspaper said Canada was helping the United States try to limit China’s technological advance by “containing” Huawei.

“If Canada does continue to do what is required of it by the U.S., it will certainly see its relations with China, including its trade relations, further deteriorate,” the newspaper warned.

Canada had the choice not to carry out the extradition of Meng on what were trumped-up charges, it added.

It said there was no connection between Meng’s arrest and China’s detention of two Canadi,上海凤楼夜网Gabe,ans – Michael Kovrig, a diplomat on unpaid leave from the embassy in Beijing, and Michael Spavor, a consultant, on suspicion of endangering state security.

China would “respond” to U.S. actions, foreign ministry spokeswoman Hua Chunying said on Tuesday, when asked whether China would retaliate against the United States if Meng was extradited. But she did not elaborate.

In an article on Monday, a former head of Canada’s spy agency said the country should ban Huawei from supplying equipment to its 5G networks. China’s ambassador has threatened repercussions if Ottawa blocks Huawei.

“We’ve talked about it with Germany because we have a good relationship with Germany and our European partners generally, and Germany is having some deliberations of its own too,” Freeland said on Tuesday, regarding possible curbs on Huawei’s access to 5G networks.

The German government is debating whether to follow the United States and allies like Australia in restricting Huawei from accessing its next-generation mobile networks, business daily Handelsblatt said.

Huawei will allow foreign officials to visit its labs, Liang said on Tuesday.

Factbox: Some rule changes now on go-slow due to U.S. shutdown

WASHINGTON ( ) – The ongoing federal government shutdown is impeding efforts to advance several rule changes that aim to make life easier for financial institutions.

Here are some projects stuck in regulatory limbo:


Last year, the two markets regulators and three banking regulators agreed to review the “Volcker Rule”, ,上海夜玩网论坛Tamara,a post-crisis rule barring banks from proprietary trading. The public comment period on simplifying the rule ended on Oct. 17, and the agencies are currently reviewing that feedback. However, relevant officials at the Securities and Exchange Commission and Commodity Futures Trading Commission are furloughed, meaning interagency work on the rule is stalled.


On Dec. 21, the same five regulators jointly proposed a separate rule that would exempt banks with less than $10 billion in assets and relatively light trading activity from the Volcker Rule. This proposal was mandated by legislation Congress passed in May. The rule must now be opened up to public comments for 30 days, but this cannot happen until it is published in the Federal Register where the majority of staff are furloughed.


In October, the Federal Reserve proposed a new package to ease regulation on all but the nation’s largest banks, establishing four tiers of rules for institutions, with larger firms facing,上海夜生活男人好去处Hadrian, harsher restraints. The proposal implements a central part of May’s bank deregulation law.

The comment period for that proposal expires on Jan. 22, but the Fed will not be able to finalize that rule until the Federal Register is fully operational.


On Dec. 19, the Federal Deposit Insurance Cor,上海夜网千花Dalton,poration (FDIC) finalized a new rule easing restrictions on deposits placed with banks by third party brokers. But that change cannot take effect until it is published in the Federal Register. At the same time, the FDIC also sought comment on whether it should further update its brokered deposit rules and related interest rate caps to better include technological changes. The FDIC gave the public 90 days to comment on potential changes, but that cannot kick off until it too is published in the Federal 上海夜生活Register.


Before the shutdown, the SEC said it was considering tweaking rules in two high-profile areas: quarterly reporting by public companies and shareholder voting rights. Both projects are in early stages, with the SEC soliciting initial feedback. But with most SEC employees furloughed, the shutdown has put those projects are now on go-slow.

TEXT-Statement from the ECB following policy meeting

( ) – Following is the statement from the European Central Bank following its policy meeting.

Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at their p,上海夜生活去哪玩Hal,resent levels at least through the summer of 2019, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2 percent over the medium term.

Regarding non-standard monetary policy measures, we intend to continue re-investing, in full, the principal payments from maturing securities purchased under the asset purchase programme for an extended period of time past the date when we start raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation.

The incoming information has continued to be weaker than expected on account of softer external demand and some country- and sector-specific factors. The persistence of uncertainties in particular relating to geopolitical factors and the threat of protectionism is weighing on economic sentiment. At the same time, supportive financing conditions, favourable labour market dynamics and rising wage growth continue to underpin the euro area expansion and gradually 上海夜生活网rising inflation,上海夜生活网419Lance, pressures. This supports our confidence in the continued sustained convergence of inflation to levels that are below, but close to, 2 percent over the medium term. Significant monetary policy stimulus remains essential to support the further build-up of domestic price pressures and headline inflation developments over the medium term. This will be provided by our forward guidance on the key ECB interest rates, reinforced by the re-investments of the sizeable stock of acquired assets. In any event, the Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation continues to move towards the Governing Council’s inflation aim in a sustained manner.

Let me now explain our assessment in greater detail, starting with the economic analysis. Euro area real GDP increased by 0.2 percent, quarter on quarter, in the third quarter of 2018, following growth of 0.4 percent in the previous two quarters. Incoming data have continued to be weaker than expected as a result of a slowdown in external demand compounded by some country and sector-specific factors. While the impact of some of these factors is expected to fade, the near-term growth momentum is likely to be weaker than previously anticipated. Looking ahead, the euro area expansion will continue to be supported by favourable financing conditions, further employment gains and rising wages, lower energy prices, and the ongoing – albeit somewhat slower – expansion in global activity.

The risks surrounding the euro area growth o,上海会所夜网Rachel,utlook have moved to the downside on account of the persistence of uncertainties related to geopolitical factors and the threat of protectionism, vulnerabilities in emerging markets and financial market volatility.

Euro area annual HICP inflation declined to 1.6 percent in December 2018, from 1.9 percent in November, reflecting mainly lower energy price inflation. On the basis of current futures prices for oil, headline inflation is likely to decline further over the coming months. Measures of underlying inflation remain generally muted, but labour cost pressures are continuing to strengthen and broaden amid high levels of capacity utilisation and tightening labour markets. Looking ahead, underlying inflation is expected to increase over the medium term, supported by our monetary policy measures, the ongoing economic expansion and rising wage growth.

Turning to the monetary analysis, broad money (M3) growth moderated to 3.7 percent in November 2018, after 3.9 percent in October. M3 growth continues to be backed by bank credit creation. The narrow monetary aggregate M1 remained the main contributor to broad money growth.

The annual growth rate of loans to non-financial corporations stood at 4.0 percent in November 2018, after 3.9 percent in October, while the annual growth rate of loans to households remained broadly unchanged at 3.3 percent. The euro area bank lending survey for the fourth quarter of 2018 suggests that overall bank lending conditions remained favourable, following an extended period of net easing, and demand for bank credit continued to rise, thereby underpinning loan growth.

The pass-through of the monetary policy measures put in place since June 2014 continues to significantly support borrowing conditions for firms and households, access to financing – in particular for small and medium-sized enterprises – and credit flows across the euro area.

To sum up, a cross-check of the outcome of the economic analysis with the signals coming from the monetary analysis confirmed that an ample degree of monetary accommodation is still necessary for the continued sustained convergence of inflation to levels that are below, but close to, 2 percent over the medium term.

In order to reap the full benefits from our monetary policy measures, other policy areas must contribute more decisively to raising the longer-term growth potential and reducing vulnerabilities. The implementation of structural reforms in euro area countries needs to be substantially stepped up to increase resilience, reduce structural unemployment and boost euro area productivity and growth potential. Regarding fiscal policies, the Governing Council reiterates the need for rebuilding fiscal buffers. This is particularly important in countries where government debt is high and for which full adherence to the Stability and Growth Pact is critical for safeguarding sound fiscal positions. Likewise, the transparent and consistent implementation of the EU’s fiscal and economic governance framework over time and across countries remains essential to bolster the resilience of the euro area economy. Improving the functioning of Economic and Monetary Union remains a priority. The Governing Council welcomes the ongoing work and urges further specific and decisive steps to complete the banking union and the capital markets union.

Citi sees stronger China wealthy client base in 2019 despite…

HONG KONG ( ) – Citigroup expects its,上海新夜网龙凤Tabitha, China wealth management cl,上海会所夜网Radcliff,ient base to grow faster in 2019 than last year, at more than 30 percent, the bank’s country chief said, despite the world’s second-largest economy slowing and feeling the pain of a trade war.

Citi’s total number of wealth management clients in China, with at least 1 million yuan ($148,610.49) in investable assets, grew 21 percent last year, Christine Lam told in an interview.

“The fact there’s significant accumulation of wealth in China, that is not going to change,” said the Citi veteran who has worked at the bank for more than three decades and was named China chief executive in 2016.

Citi is planning to invest more in digital initiatives to help expand its distribution reach and take a bigger share of the onshore wealth management business in China, she said.

Foreign banks including Citi, HSBC and Standard Chartered have been investi,上海夜网Dahlia,ng heavily in courting the mass affluent – those with investable assets of between $100,000 and $1 million – in China.

The banks are bullish about the medium-to-long-term growth prospects in the country with the world’s fastest-growing pool of wealth, even as a bru上海夜网ising trade war with the United States dragged the economy last year to its slowest growth in nearly three decades and caused volatility in markets.

Individual investable assets as per top markets png – tmsnrt.rs/2SafPar

Chinese citizens collectively held investable financial assets of around 133 trillion yuan at end-2017 and the pool would rise to 175 trillion yuan by 2020, consultancy PwC said in a report in October.

Regulatory measures to boost scrutiny and transparency in the wealth management business augur well for foreign players already used to close regulatory scrutiny, it said.

Apart from cracking down on the sale of shadow banking-linked wealth products, China is also getting local banks to set up separate subsidiaries for their wealth management business for better oversight.

Lam said that those regulatory initiatives would “educate investors about risk and suitability – and that’s good for us”.

China is one of Citi’s 10 markets in Asia that generate over $500 million in revenue annually.

Besides wealth management, the bank’s onshore China businesses include retail, corporate and commercial banking.

Under new rules announced by Beijing in late 2017, foreign firms can now own 51 percent of an onshore Chinese securities joint venture, which provides debt and equity underwriting and financial advisory services.

Late last year, Citi agreed to sell its minority stake in its China brokerage joint venture to its Chinese partner, Orient, paving the way for the U.S. bank to set up a majority-owned underwriting and trading business.

Lam said that Citi was currently in talks to find a potential partner for the new securities business and that the new venture would have additional offerings such as equities trading.

Written by shyw on March 25, 2019 Categories: zqyfuqia Tags: , ,

U.S. grand jury indicts four Audi managers in VW emissions probe

WASHINGTON ( ) – A federal grand jury in Detroit on Thursday indicted four managers at Volkswagen AG’s (VOWG_p.DE) luxury Audi unit as part of the U.S. government’s investi,上海夜网Fabian,gation into the German automaker’s diesel emissions cheating scandal, according to court documents.

VW admitted in September 2015 to secretly installing software in nearly 500,000 U.S. vehicl上海夜生活网es to cheat government exhaust emissions tests and pleaded guilty in 2017 to felony charges. In total, 13 people have been charged in the United States, including the four Audi managers.

Managers Richard Bauder, Axel Eiser, Stefan Knirsch and Carsten Nagel all worked in Audi’s engine development division in Germany. Bauder was head of Audi’s Diesel Engine Development department. A Justice Department spokesman said none are in custody. All are believed to be in Germany.

Lawyers for the four could not immediately be identified.

The government previously indicted one former Audi manager in July 2017, Giovanni Pamio. The new indictment is a significant expansion of the government’s criminal probe.

The four managers are charged in a 12-count indictment with conspiring to evade U.S. emissions standards in diesel vehicles sold in the United States with 3.0-liter engines. The vehicles include the 2009-2015 Audi Q7 vehicles as well as other Q5, A6, A7 and A8 diesel models and VW Touareg vehicles. They are accused of wire fraud, violating the Clean Air Act and conspiracy.

Volkswagen spokesman Pietro Zollino said the company continues “to cooperate with investigations by the Department of Justice into the conduct of individuals. It would not be appropriate to comment on individual cases.”

The indictment said the Audi managers realized they could not meet U.S. pollution standards given design constraints by Audi “including the need f,上海夜生活网交流Pablo,or a large trunk and high-end sound system.”

Audi engineers told Bauder in 2008 that unless the tank was larger “Audi had to cheat to pass U.S. emissions tests” and ensure that drivers could go 10,000 miles between dealer service visits, the indictment said.

In total, Volkswagen has agreed to pay more than $25 billion in the United States for claims from owners, environmental regulators, states and dealers, and has offered to buy back about 500,000 polluting U.S. vehicles. The buybacks will continue through 2019.

In 2017, VW also pleaded guilty to fraud, obstruction of justice and falsifying statements in a U.S. court. Under the plea deal, the automaker agreed to sweeping reforms, new audits and oversight by an independent monitor for three years.

U.S. prosecutors previously charged former VW Chief Executive Officer Martin Winterkorn, who remains in Germany. Two other former VW executives have pleaded guilty in the investigation and are in prison. Germany does not typically extradite its citizens for prosecution in U.S. courts.

Former Audi Chief Executive Rupert ,上海夜生活网419Qirin,Stadler was not among those indicted. He is being investigated in Germany for his alleged role.

VW in October terminated Stadler’s contract against the backdrop of a criminal investigation into whether he was involved in emissions cheating.

Top U.S. diplomat for refugees to leave post

WASHINGTON ( ) – The U.S. diplomat in charge of refugee issues plans to leave his post within days, becoming the third senior U.S. official to depart,上海夜网Sabina, or be re-assigned from refugee work in recent weeks.

Simon Henshaw, the acting assistant secretary of the State Department’s Bureau of Population, Refugees and Migration, told colleagues in the refugee sector in an e-mail seen by that he will be leaving the bureau at the end of next week.

In an interview on Saturday evening, Henshaw told he was leaving his position in a routine professional move unrelated to the Trump administration’s policies, which have c,上海夜生活怎么玩Gabriel,urtailed refugee admissions. A State Department spokeswoman also said Henshaw’s move was routine.

Henshaw said his post at the Population, Refugees and Migration bureau had been his longest assignment in his 33-year tenure as a career foreign service officer.

“It very honestly had to do with the fact that I’d felt I’d spent enough time,” Henshaw told . “I’m used to moving on every two or three years.”

Prior to being named acting assistant secretary at the start of the Trump administration, he served as the principal deputy assistant secretary since July 2013.

The bureau will be run from Jan. 22 onward by Carol O’Connell, the deputy assistant secretary of state for African affairs, according to her State Department biograph上海夜生活网y.

“In a world where the number of refugees and displaced persons continues to rise, I think we should all be proud (of) the good that we have done and the help that we have provided to so many,” Henshaw wrote in the Saturday e-mail.

Henshaw is the latest senior U.S. official working on refugee issues to leave a job or be sidelined as the Trump administration reshapes U.S. refugee admissions.

Since taking office last year, President Donald Trump has slashed the number of refuge,上海仙霞路夜生活Fabian,es allowed into the country, paused the refugee program entirely for four months, instituted stricter vetting requirements and quit negotiations on a voluntary pact to deal with global migration.

On Tuesday, reported that Lawrence Bartlett, previously the head of the refugee admissions office at the State Department, had been given a temporary re-assignment in the State Department office handling Freedom of Information Act requests.

Earlier this month, Barbara Strack, chief of the Refugee Affairs Division at U.S. Citizenship and Immigration Services, under the Department of Homeland Security, said she would retire in January.

U.S. lawmaker probed on sex reports, second congressman denies charges

WASHINGTON ( ) – The U.S. House of Representatives Ethics Committee said on Friday it had begun an investigation into public reports that Democrat Ruben Kihuen engaged in sexual harassment, and a second lawmaker denied a former aide’s allegations of sexual misconduct.

The ethics panel said that announcing the probe was not a sign the committee already had determined the Nevada representative violated any rules.

“As I’ve said previously, I intend to fully cooperate, and I welcome an opportunity to clear my name,” said Kihuen in a statement provided to .

The news website Buzzfe,上海夜生活Cadence,ed has reported that Kihuen, currently finishing his first year in Congress, harassed a staff member on his 2016 political campaign, and on Thursday there were multiple上海夜生活网 reports of an anonymous lobbyist’s description of his unwanted advances. has not independently confirmed the reports.

Lawm,上海夜网千花Sabrina,akers from both U.S. political parties have recen,上海夜生活群Queena,tly been ensnared in allegations of sexual misconduct, prompting the committee to launch a probe this month of all House members and their staffs.

On Friday a second Democratic congressman, Bobby Scott of Virginia, was accused by former legislative aide Macherie Reese Everton of touching her leg and back without permission in 2013 and offering to advance her career in exchange for sex and said she was wrongfully dismissed from her job.

Scott, who has served 25 years in Congress, rejected Everton’s charges and said he had never sexually harassed anyone.

“I absolutely deny this allegation of misconduct,” he said in a statement. “I am confident that this false allegation will be seen for what it is when the facts are adequately reviewed.”

has not independently verified the claims.

This week Republican Representative Blake Farenthold said he would not seek re-election after accounts surfaced that he created a hostile work environment.

In a Facebook post, Farenthold denied allegations of sexual harassment by former staff members but admitted he allowed an unprofessional culture to flourish in his Capitol Hill office.

Members of Congress are working on legislation to update the body’s rules on sexual harassment.

Representative Carolyn Maloney said she will introduce a bill on Friday that says companies cannot block sexual harassment victims from publicly disclosing the details of their allegations, which often are included in settlement agreements.

Allegations of misconduct in recent weeks have also been made against movie-makers, television interviewers and other men in the private sector.

Written by shyw on March 20, 2019 Categories: wkrpepdc Tags: , , ,

‘Under siege’, oil industry mulls raising returns and PR game

DAVOS, Switzerland ( ) – When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate change and pressure from investors.

The conclusion of the discussions was worrying for those present – pressure is rising and the industry is losing a battle not to be seen as one of the world’s biggest evils.

The answer? Lure investors with higher returns and raise the PR game.

“There is no doubt – and there is a consensus coming here in various meetings in Davos – that our industry is literally under siege and the future of oil is at stake,” said Mohammed Barkindo, secretary-general of oil producer group OPEC.

“The industry needs to come together and respond positively with facts and figures. We are not shying away from the fact that we have not been able to communicate well,” Barkindo said.

,上海夜生活群Lance,The industry gathered on the sidelines of the World Economic Forum, holding a series of closed-door meetings.

The chief of oil giant Chevron, Michael Wirth, had discussions with bosses from BP, Royal Dutch/Shell, Total and Aramco for the first time as U.S. companies joined European and Middle Eastern peers in debating climate change. Darren Woods, head of the biggest U.S. oil firm, Exxon Mobil, participated in the meeting via telephone.

The meetings were also attended by John Flint, chief of HSBC, Ron Mock, president of Ontario Teachers’ Pension Plan, and executives from investment firms Canyon Partners and ValueAct, two sources present at the discussions said.

The climate change debate has split the oil industry over the past decade.

While U.S. majors took an initially soft approach toward global warming, Shell had urged that the industry be held responsible not only for its own emissions, but also for those of consumers.

Linked to that debate was pressure from investors urging the oil industry to help tackle climate change, with some pension funds including that of Norway saying they would stop investing in the stocks of oil companies.


The oil industry has repeatedly tried to explain that if it stops investing in new projects, the world will face an energy shortage and price spikes because renewables and nuclear energy cannot meet rising energy demand as the global population grows.

“How do you get the hearts and minds of investors back? That is a real challenge for our industry,” said John Hess, the founder of independent U.S. producer Hess Corp.

He said investor frustration with the oil industry was manifested by the fact that the share of energy companies in the S&P index had shrunk to 5.5 percent, from 16 percent 10 years ago.

“We will have to compete against other industries in the S&P to create the value,上海夜生活Talon, proposition that makes us more attractive. A new paradigm is coming up which is to generate free cash and share some of this cash with investors,” he said.

The U.S. oil industry has been booming in recent years but investors have been frustrated by heavy debts and a lack of free cash flow and dividends.

However, even European oil majors such as Shell and BP, which pay billions of dollars in dividends, have struggled to remain popular with investors.

“We need to engage with policymakers and the public to understand the huge task we have ahead,” Hess said.


BP chief Bob Dudley said the industry needed to explain the challenge of producing and making energy affordable for an increasing global population, which will see energy use rising 30 percent by 2040.

“You cannot just tax energy-intensive industries and not the users of energy and think you’re going to solve the problem. People need to use less energy. Philosophically, trying to look at emissions across the entire value chain is critical,” Dudley told .

The head of state-run Saudi oil giant Aramco, Amin Nasser, said investors would ultimately differentiate between cleaner and more polluting companies.

Aramco wants to list its stock sometime after 2021 in what could become the world’s largest initial public offering. Nasser said the latest research by Stanford University found Aramco was the cleanest m,上海高端夜生活在那里Fabi,ajor oil company in the world thanks to zero gas flaring and modern field technology.

He said oil companies could help cut emissions by end users but should not ultimately be responsible for them.

“We have to look at what we control. I have control of what I send to the grid in Saudi Arabia. But we do not have control over factories in Europe,” Nasser said.

“However, it doesn’t mean we don’t care about end users. As a company we are looking a上海夜网t what we can do to increase the efficiency of end users,” he said.

Aramco invests in research to make cars more efficient, increase mileage per gallon and the use of hydrogen in cars. It recently acquired high-end rubber producer Arlanxeo to help reduce tire friction.

“We need to boost efficiency or get rid of CO2 by technology,” Nasser said.

Trump rejects author’s accusations, calls self ‘stable genius’

WASHINGTON ( ) – U.S. President Donald Trump on Saturday rejected an author’s accusations that he is mentally unfit for office and said his business career and election victory showed he is “a very stable genius.”

Michael Wolff, who was granted unusually wide access to the White House during much of Trump’s first year, has said in promoting his book that Trump is unfit for the presidency. He told BBC Radio in an interview broadcast on Saturday that his book is creating “the perception and the understanding tha,上海夜网千花Landon,t will finally end … this presidency.”

Trump battled back in a series of extraordinary morning posts on Twitter, which appeared to catch some in his inner circle off guard.

Trump said Democratic critics and the U.S. news media were bringing up the “old Ronald Reagan playbook and screaming mental stability and intelligence” since they have not been able to bring him down in other ways.

Reagan, a Republican who was the U.S. president from 1981-1989, was diagnosed with Alzheimer’s disease in 1994 and died in 2004.

“Actually, throughout my life, my two greatest assets have been mental stability and being, like, really smart,” said Trump, a former reality TV star and developer.

“I went from VERY successful businessman, to top T.V. Star … to President of the United States (on my first try). I think that would qualify as not smart, but genius … and a very stable genius at that!”

Trump, 71, sent the tweets from the presidential retreat at Camp David, Maryland, where he discussed a legislative agenda for the year with Republican congressional leaders and many Cabinet secretaries.

Wolff’s book, “Fire and Fury – Inside the Trump White House,” portrays Trump as unfocused, unprepared and petty while presiding over a chaotic White House.

Trump, answering questions from reporters at Camp David after the meeting, called Wolff a “fraud” and said the book is “a complete work of fiction.”

“I think it’s a disgrace,” he said.


Trump said he never granted Wolff an interview for the book and blamed former adviser Steve Bannon, who he called “Sloppy Steve,” for granting Wolff access at the White House. Wolff has said he spoke to Trump but that the president may not have known he was being interviewed.

The tweets were another sign of Trump’s frustration上海夜生活网 at what he views as unfair treatment by the news media of his presidency amid a federal investigation into whether he or his campaign aides colluded with Russia during the 2016 presidential campaign, in which he defeated Democrat Hillary Clinton.

White House Chief of Staff John Kelly told reporters at Camp David that he had not been aware of Trump’s morning tweets. Kelly said Trump did not seem angry and on Friday night had watched a new movie, “The Greatest Showman” about legendary c,上海凤楼夜网Idaia,ircus promoter P.T. Barnum, with the lawmakers.

Trump, asked about a New York Times report that his aides had pressured Attorney General Jeff Sessions not to recuse himself from the Russia investigation, said: “Everything I’ve done has been 100 percent proper.”

Trump, who has often criticized Sessions of his performance as attorney general, said he nonetheless supports him. Sessions had not been invited to the weekend retreat.

Wolff’s book has proved to be another shock to the system for Trump and his top aides, coming just as he starts his second year in office.

Wolff told NBC News on Friday that White House staff treated Trump like a child.

“The one description that everyone gave, everyone has in common — they all say he is like a child,” Wolff said. “And what they mean by that, he has a need for immediate gratification. It’s all about him.

“This man does not read, does not listen. He’s like a pinball, just shooting off the sides.”

Trump is to undergo the first physical examination of his presidency on Jan. 12. The exam was announced on Dec. 7 after questions arose about Trump’s health when he slurred part of a speech announcing that the United States recognized Jerusalem as the capital of Israel.

White House officials and Trump’s high-profile supporters have launched an effort to raise doubts about Wolff’s credibility. White House spokesman Sarah Sa,上海夜哪里艳遇Cade,nders said earlier in the week that the book includes “mistake after mistake after mistake.”

Boeing’s flying car lifts off in race to revolutionize urban travel

SEATTLE ( ) – Boeing Co said on Wednesday its flying car prototype hovered briefly in the air during an inaugural test flight, a small but significant step as the world’s largest planemaker bids to revo,夜上海419龙凤论坛Jacklyn,lutionize urban transportation and parcel delivery services.

Boeing is competing with arc,上海夜生活怎么玩Lance,h-rival Airbus SE and numerous other firms to introduce small self-flying vehicles capable of vertical takeoff and landing.

The investments, fueled by leaps in autonomous technology as much as frustration with road congestion, could change the face of the aerospace industry within the next decade.

Boeing’s 30-foot-long (9 meter) aircraft – part helicopter, part drone and part fixed-wing plane – lifted a few feet off the ground and made a soft landing after less than a minute of being airborne on Tuesday at an airport in Manassas, Virginia, Boeing said.

Future flights will test forward, wing-borne flight.

“This is what revolution looks like, and it’s because of autonomy,” John Langford, president and chief executive officer of Boeing subsidiary Aurora Flight Sciences, said in a news release announcing the test flight.

Major hurdles to Boeing’s vision of “low-stress” mobility – as it is called in the company’s marketing materials – include sorting out numerous critical safety and regulatory issues to meld traditional roadway traffic with fleets of flying cars.

Boeing is working with startup SparkCognition Inc and the U.S. Federal Aviation Administration to develop a traffic-management system for three-dimensional highways, as well as the regulatory framework that will allow waves of autonomous vehicles to zip safely around buildings, the company has said.

Boeing bought Manassas-based Aurora Flight Sciences last year to speed development of a fleet of autonomous air vehicles. With Aurora, Boeing is also working on Uber Technologies Inc’s [UBER.UL] UberAIR service for flights that are planned to be available for order via smartphones around 2023.

Boeing is looking to achieve a range of 50 miles with two flying car variants capable of carrying two and four passengers each. Tests are planned for later this year on a package-hauling version that can lift up to 500 pounds (226.8 kg).

Competitors range from Airbus, which says it has already conducted numerous flying上海夜网 vehicle test flights, to Volocopter, which has tested drone taxis that resemble a small helicopter powered by 18 rotors, and AeroMobil, with a stretch-limousine concept that can turn into a fixed-wing aircraft.

Vertical Aerospace, which completed a flight test last year, aims to offer short inter-city flights in the coming years with a piloted aircraft capable of carrying multiple passengers.

“The future of mobility – moving goods, moving cargo – moving people – that future is happening now and it’s going to accelerate over the next five years and ramp up even more beyond that,” Dennis Muilenburg, Boeing’s president, chairman and CEO, told a panel at the World Economic Foru,上海夜网千花Cadence,m in Davos, Switzerland, on Wednesday.

Big thumbs-up from Wall Street after Fed signals patience on rates

( ) – U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

Along with better-than-feared quarterly results from Apple Inc, the Fed’s comments helped Wall Street reverse two down days tr上海夜生活iggered by profit warnings from U.S. bellwethers that signaled a bigger impact from a slowdown in China.

The U.S. central bank held interest rates steady, as widely expected.

While the Fed said continued U.S. economic and job growth were still “the most likely outcomes,” it removed language from its December policy statement that risks to the outlook were “roughly balanced” and struck language that projected “some further” rate hikes would be appropriate in 2019.

It also said it could alter the pace of its balance sheet reduction “in light of economic and financial developments”. The Fed’s balance sheet surged following the 20,上海会所夜网Mace,08 financial crisis, and many investors believe its effort to shrink it may stifle economic growth.

Investors in recent months have become more concerned about the global economy. U.S. corporate results have shown companies including Apple, Intel Corp and Caterpillar Inc are feeling pain from the slowing expansion of China’s economy, which has been hurt by a trade conflict with the United States.

“The markets got what they were hoping for in the Fed’s written statement, including both the notion of the central bank’s patience on ,上海夜网邀请码Barbara,future rate hikes and greater flexibility in its approach to reducing its balance sheet,” said Mohamed El-Erian, chief economic advisor at Allianz in Newport Beach, California.

Apple shares jumped 6.83 percent after the company reported a sharp growth in services business, easing concerns after the iPhone maker earlier this month cut current-quarter sales forecast.

Boeing Co gained 6.25 percent after the world’s largest plane-maker forecast full-year profit and cash flow above analysts’ estimates amid a boom in air travel and speedier 737 production.

Following the Fed’s rate announcement, all three main U.S. stock indexes extended gains from earlier in the session and the S&P 500 closed at its highest since Dec. 6.

The Dow Jones Industrial Average jumped 1.77 percent to end at 25,014.86 points, while the S&P 500 gained 1.55 percent to 2,681.05.

The Nasdaq Composite surged 2.2 percent to 7,183.08.

Investors were also tracking the latest round of talks between Washington and Beijing that began on Wednesday, the highest-level meeting since U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce to their trade war in December.

The Philadelphia Semiconductor index surged 2.87 percent, while the S,上海夜生活乌托邦Nadine,&P technology index jumped 3.03 percent.

Microsoft Corp and Facebook Inc, set to report after the closing bell, rose 3 percent or more.

Of the 168 S&P 500 companies that have reported results so far, 73.2 percent have topped profit estimates, according to Refinitiv data.

Advancing issues outnumbered declining ones on the NYSE by a 4.09-to-1 ratio; on Nasdaq, a 2.31-to-1 ratio favored advancers.

The S&P 500 posted 21 new 52-week highs and no new lows; the Nasdaq Composite recorded 27 new highs and 28 new lows.

Volume on U.S. exchanges was 7.9 billion shares, compared with the 7.7 billion-share average over the last 20 trading days.

Gulfport pledges share buybacks after hedge fund demand

BOSTON ( ) – Natural gas and oil firm Gulfport Energy Corp said it would buy back $400 million of shares on Thursday, just hours after a public demand to that effect from hedge fund investor Firefly Value Partners.

After the close of trad,上海夜生活乌托邦Radley,ing, Oklahoma City-based Gulfport announced plans to buy back $400 million worth of shares in the next two years and said it bought $90 million worth of shares in the last weeks of 2018.

“I want to underscore our commitment to further enhancing shareholder value with a newly authorized $400 million stock repurchase program to be executed within the next 24 months,” David Wood, who was named chief executive officer late last year, said in a statement.

On Thursday morning, New York-based hedge fund Firefly had said it wanted Gulfport, which has a market capitalization of $1.5 billion, to buy back $500 million ,上海新夜网龙凤Fabiana,of shares.

Firefly, which owns 8.1 percent of Gulfport, said in a public letter that such a large share buyback could translate to a doubling of Gulfport’s share price.

It criticized how Gulfport had allocated capital and complained that current board members might not be committed to pushing for improvements.

In its statement announcing the share buyback, Gulfport did not refer to Firefly or address its complaints.

But by the afternoon, when the eight member Gulfport board ended its meeting, management and the directors ,上海夜生活网419Nadia,laid out a plan that some analysts said could neutralize the hedge fund’s requests.

Firefly declined to comment on the Gulfport statement.

Gulfport also forecast free cash flow of more than $100 million this year and said this year’s capital expenditures would be between $565 million and $600 million and be paid with cash flow.

Last year, Gulfport had authorized $200 million worth of buybacks.

In its critique of the company and its board, Firefly said directors do “not seem up to the task of fixing the company’s capital allocation strategy and regaining investors’ trust.” It added that it may be time to add a shareholder to the board who could energize the group to push for these changes.

“We propose an action plan that we believe allows Gulfport to create at least $9 per share of value for stockholders (over 100 percent of the current market capitalization) over the next 12 months,” Firefly’s letter said. Rising commodity prices would make the impact of the share buybacks even bigger.

The company’s shares, which closed at $8.82 on Thursday, have tumbled 32 percent in the last year.

This is the time of year investors who are pushing for change traditionally write public letters to companies that detail their complaints. Later they may run a proxy contest to seat newcomers on the board.

Firefly has been invested in Gulfport since 2013 and there have be上海夜网en private discussions, the hedge fund acknowledged.

There was turmoil at the company late last year. In December it appointed Wood as CEO to replace Michael Moore, who resigned after accusations that he had misused the company’s chartered aircraft and a company credit card.

Cuts to homeowner tax breaks could cost Republicans in 2018 races

SACRAMENTO, Calif. ( ) – Laura Russo is just the kind of voter the Republicans need, but the party’s proposed tax overhaul, which includes limits on the deductions for mortgage interest, state taxes and property taxes, is pushing her away.

“I would be dramatically affected,” she said. An airline pilot and single mother of two, she says that like many in her affluent Loudoun County, Virginia, neighborhood she stretched to buy her home. She fears it will become harder to sell that house or pay her other tax bills if President Donald Trump signs the plan into law.

Russo, 52, said she had voted for the Republican in every presidential race since 1992 until last year when she picked Hillary Clinton. She still voted for Barbara Comstock, the Republican who represents her district in Congress.

“I will not do that again,” she said. “The tax bill is the straw that broke the camel’s back.”

Russo is one of thousands of homeowners in Republican-leaning areas who could be hit by the elimination or reduction of tax breaks for homeowners, a analysis of federal mortgage and tax data shows, potentially opening those districts to a Democratic challenge in the November 2018 mid-term elections.

The plans are expected to affect mainly the Democratic-leaning “blue states” such as California, New Jersey and New York where homes are expensive, mortgages are huge and state and local taxes tend to be high.

But while these blue states will be hardest hit, county level data also shows there is a significant number of Republican enclaves in districts expected to be hotly contested in next year’s polls that will feel the pain. Republican leaning pockets in blue or swing states, such as Orange County, California, or Loudoun County, Virginia, tend to have high property values – and thus the higher mortgages. Many of these areas also tend to have higher state and local income taxes.


Larry Sabato, director of the non-partisan Center for Politics at the University of Virginia, estimates that there are 16 counties where 2018 races will be toss-ups between Republican incumbents and Democratic challengers.

data shows that almost half of those counties have an above-average share of new mortgages worth more than $500,000, which is a proposed cap for tax deductions. The results are similar for districts selected as 50-50 ones by The Cook Political Report, a non-partisan newsletter that analyzes U.S. elections.

Among those on Cook’s list is a district in Harris County in the deep-red state of Texas. Even though the state has no income tax, thousands of residents of the district, which includes Houston, deduct taxes owed in other states because of work or business done there, and property taxes – the nation’s sixth-highest.

Democrats need 24 more seats to win lower house majority from the Republicans, who now control the White House and both houses of Congress. Nancy Pelosi, the House Minority Leader, said in a fundraising note Democrats were rushing out “rapid-response ads” targeting swing voters to capitalize o,上海凤楼夜网Larissa,n the concerns, while Kevin Brady, Republican chairman of the House Ways and Means Committee, said on CNBC on Tuesday his party’s leadership was working on ways to mollify R,夜上海419龙凤论坛Eason,epublicans in blue states.

That concern is felt on the ground too. Will Estrada, chairman of the Republican party in Loudoun County, said he firmly believed the tax plan would deliver savings to m上海夜生活ost people. But he said that if Democrats ar,上海夜生活网交流Jack,e right and many middle class voters face higher bills, “the GOP is going to be toast in 2018.”

The bill passed by the U.S. House of Representatives on Nov. 16 let homeowners who take out new mortgages deduct only the interest paid on the first $500,000 of a mortgage. It also ends deductions for state and local income taxes, and caps deductions for property taxes at $10,000.

The Senate’s plan, passed on Saturday, would keep the mortgage interest deduction as is, on any mortgage up to $1 million, but agrees with the House on state, local and property taxes. The two houses of Congress are now reconciling the two versions.

The data analysis shows that 37 percent of the total mortgages issued in Orange County in 2016 were above $500,000 and 26 percent in Loudon County. Both include districts represented by Republicans and have some of the highest rates of expensive mortgages in the country.

Comstock, who retained her Virginia seat by 3 percentage points, voted for the House bill, but later asked for changes on deductions, saying through a spokesman that she sought “the best possible tax package for all of her constituents.” In Orange County, Republican Representative Darrel Issa voted against the House version, in part, because of how it will affect homeowners. Neither California Republican Dana Rohrabacher, who also voted against the bill, nor Issa would comment on a possible backlash from voters.


Home buyers in expensive areas count on the mortgage interest deduction to make their payments manageable, said Lawrence Yun, chief economist for the National Association of Realtors, which opposes any changes to the deductions.

Yun says his analysis suggests curbing the mortgage interest deduction would lead to as much as an 8 percent drop in housing values nationwide, and cutting property tax deductions could lead to a further drop of up to 3 percent because it would make buying and selling homes more costly.

“Not just in high cost states like Illinois and California, but relatively speaking in places like Wisconsin, Michigan, Pennsylvania, which were critical in swaying the presidential election,” he said.

Other economists think the impact may be smaller. As refinancing of mortgages becomes less popular and consumers begin paying debt down faster, the market would rebalance, said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California, who forecasts a 5 percent decline in home values.

California’s Placer County northeast of Sacramento, where the median home sells for more than $440,000, remains a Republican enclave. But local Republicans have noticed that each year fewer residents vote Republican and their web page bears the slogan, “Keep Placer Red.”

To do that, the party will have to keep the loyalty of Republicans like Rudy Coscia, a 36-year-old plastic surgeon who just took out a $900,000 mortgage to buy a four-bedroom house in Granite Bay for $1.1 million.

Coscia is counting on mortgage interest and property tax deductions as he is also making payments on $200,000 worth of medical school loans and $400,000 he borrowed to get his practice started.

“They’re hurting their base,” he said. “You’d think they’d be trying not to hurt the people who voted for them.”

Nissan’s Ghosn offers to wear electronic ankle tag to get bail

TOKYO ( ) – Ousted Nissan Chairman Carlos Ghosn has offered to wear an electronic ankle tag and hire guards to monitor him in an unusual bid to secure his release on bail after two months of detention in Japan for alleged financial crimes.

Ghosn is also willing to remain in Tokyo, where he has leased an apartment, and post stock he owns in Nissan Motor Co as collateral, his spokeswoman said. A new bail hearing is set for Monday after an earlier request was denied due partly to concerns he posed a flight risk.

The Tokyo District Court will likely decide whether to grant Ghosn release on bail as soon as Tuesday, Japanese public broadcaster NHK said.

His release would allow Ghosn to meet more frequently with his lawyers and defend himself before the board of Renault, which is also moving to replace him as its chairman and CEO.

The Renault nominations committee has tentatively backed Michelin boss Jean-Dominique Senard to become Renault chairman, as widely expected, while Ghosn’s deputy Thierry Bollore would ta,上海夜生活网419Dahlia,ke the full CEO role, two sources told .

The planned appointments, which have yet to be put to the full Renault board, were reported earlier on Monday by Le Figaro newspaper. A Renault spokesman did not respond to a request for comment.

The board of Renault, which dominates the partnership through its 43.4 percent stake in Nissan, is expected to meet within days to consider potential candidates to replace Ghosn.

As Ghosn’s Nov. 19 arrest continued to cloud the outlook for Nissan’s three-way alliance with France’s Renault SA and Mitsubishi Motors Corp, Nissan said it was not the time to discuss revising the partners’ capital ties.

Ghosn, who spearheaded Nissan’s turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese firm.

“We are not at t,上海新夜网龙凤Balthazar,he stage for such discussions,” Nissan CEO Hiroto Saikawa told reporters on Monday.

Saikawa also said he had not heard directly about a reported French proposal to integrate the Japanese carmaker’s management with Renault, adding that it was not the time to discuss revising the partners’ capital ties.

The Nikkei newspaper reported on Sunday that a French government delegation had informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company.

“Since I have not heard this directly, I cannot comment,” Saikawa told,上海夜网官方网站Idaia, reporters.

And NHK quoted French Economy Minister Bruno Le Maire as saying that an integration proposal was “not on the table now”.

A source familiar with Nissan’s thinking said the reported French proposal did not “make sense” given the two companies’ different cultures, Renault’s lower上海夜生活论坛 productivity and Nissan’s bigger contribution of key technology.

“It’s a virtual merger, I don’t think it makes sense,” the source said, adding he had not heard directly of such a French proposal.


Ghosn denies any wrongdoing as he awaits trial on charges of financial misconduct.

“I will attend my trial not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself,” Ghosn said in a statement.

“I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom.”

The co-chair of a committee set up by Nissan to examine the root cause of Ghosn’s alleged financial misconduct and propose corporate governance reforms questioned Ghosn’s standards.

“Having read the report on the internal investigation, my initial impression was that the head of the company may have had questionable ethical standards,” committee co-chair Seiichiro Nishioka told a briefing on Sunday after the panel’s first meeting.

U.S. labor market remains strong, economy slowing

WASHINGTON ( ) – The number of Americans filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labor market as claims for several states including California were estimated.

Still, labor market conditions remain strong, which for now should help to temper fears of a sharp slowdown in economic growth. Other data on Thursday showed a gauge of future U.S. economic activity fell in December.

The economy is facing several headwinds, including a bitter U.S. trade dispute with China and a month-long partial shutdown of the federal government, which are hurting consumer and business confidence. Higher interest rates, fading fiscal stimulus and cooling global economies are also seen crimping domestic growth.

“If you’re looking for good news on the economy, look no further than the labor market,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan. “Growth may be slowing, but the overall picture for workers and those seeking work remains quite positive.”

Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 199,000 for the week ended Jan. 19, the lowest level since mid-November in 1969 when 197,000 applications were recorded, the Labor Department said.

Economists polled by had forecast claims rising to 220,000 in the latest week. The Labor Department said claims for California, Kansas, North Dakota, Virginia, West Virginia and Hawaii were estimated last week because of Monday’s Martin Luther King holiday.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 5,500 to 215,000 last week.

About one-quarter of federal agencies have been shuttered since Dec. 22, impacting 800,000 government employees, with many working without pay and others furloughed. All workers will be paid retroactively 上海夜生活论坛when the shutdown ends.

But economists expect the longest shutdown in history will push the unemployment rate above 4.0 percent in January as the furloughed workers would be considered unemployed.

The jobless rate rose two-tenths of a percentage point to 3.9 percent in December as strong labo,上海夜网邀请码Idris,r market conditions attracted some unemployed people back into the labor force.

Stocks on Wall Street were trading mixed after U.S. Commerce Secretary Wilbur Ross said Washington and Beijing were a long way from resolving their trade dispute. The dollar was stronger against a basket of currencies, while prices of U.S. Treasuries rose.


Thursday’s claims report showed the number of people receiving benefits aft,上海夜生活论坛Pablo,er an initial week of aid decreased 24,000 to 1.71 million for the week ended Jan. 12. The so-called continuing claims data covered the week of the household survey from which January’s unemployment rate will be calculated.

Continuing claims rose 5,000 between the December and January survey periods. If there were no government shutdown, the modest gain between the survey weeks would suggest little change in the unemployment rate this month.

The number of federal workers filing for jobless benefits rose 14,965 to 25,419 in the week ending Jan. 12.

President Donald Trump is demanding $5.7 billion to build a wall along the U.S. border with Mexico. Democratic lawmakers have refused to provide the funding for the wall.

The Commerce Department is one of the agencies whose funding has lapsed as a result of the deadlock in Washington.

The publishing of data produced by the department’s Bureau of Economic Analysis and Census Bureau has been suspended, leaving economists, investors, businesses and policymakers in the dark about the economy’s health.

The limited data available from independent institutions, including the Federal Reserve suggests the economy slowed in the fourth quarter and continued to lose momentum in early 2019.

In a separate report on Thursday, the Conference Board said its leading indicator slipped 0.1 percent in December after gaining 0.2 percent in November. It said the moderation suggested “that the economy could decelerate towards 2 percent growth by the end of 2019.”

The report adds to recent data showing home resales plummeting in December ,上海晚上耍女人的地方Sabia,and consumer sentiment tumbling to more than a two-year low in January. Some regional Fed manufacturing surveys have weakened in January.

While a third report on Thursday from data firm IHS Markit showed factory activity firming in early January, growth in the services sector slowed. Economists estimate the government shutdown is subtracting at least two-tenths of a percentage point from quarterly GDP growth every week.

“Although three-quarters of the government is funded for the fiscal year, delays in government contracts for the remaining unfunded agencies could hurt private contractors,” said Maria Cosma, an economist at Moody’s Analytics in West Chester, Pennsylvania.

Some Wall Street banks, including JPMorgan and Barclays, have slashed their first-quarter GDP growth forecasts to as low as a 2.0 percent annualized rate from as high as a 3.0 percent pace. Growth estimates for the fourth quarter are around a 2.8 percent rate. The economy grew at a 3.4 percent pace in the July-September quarter.

Oil jumps 3 percent on OPEC plan details, U.S.-China trade hopes

NEW YORK ( ) – Oil prices rallied about 3 percent on Friday, boosted after OPEC,上海夜生活怎么玩Rae, detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China trade war.

Futures were on track for a third straight week of gains, with Brent crude LCOc1 up $1.64 to $62.82 a barrel, or 2.7 percent, at 11:06 a.m. EST (1606) GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up $1.70 to $53.77 a barrel, or 3.3 percent.


The Organization of the Petroleum Exporting Countries on Friday issued a list of oil production cuts by its members and other major producers for six months starting on Jan. 1 to boost confidence in its oil supply reduction pact.

“It’s going to send a signal to the market that they’re serious,” said Phil Flynn, an analyst at Price Futures Group in Chicago. “I think they also want to point out that they’re probably going to be overcompliant with these numbers, especially from Saudi Arabia.”

The OPEC and non-OPEC ministerial panel also called on members and the organization’s allies, including Russia, to “redouble their efforts in the full and timely implementation” of the move.

The producer group and its allies agreed in December to return ,上海夜生活论坛Kai,to output cuts, of 1.2 million barrels per day, to support oil prices and fight a glut amid rising supply, especially from the United States.

On Thursday, OPEC’s monthly report showed it had made a strong start in December before the pact went into effect, implementing the biggest month-on-month production drop in almost two years.

Markets were also buoyed by signs that Washington and Beijing might soon resolve their trade dispute.

A Bloomberg report on Friday showed China offered to go on a buying spree of U.S. goods, which investors saw as an attempt to draw closer to a trade deal with Washington.

However, some signs of weakening demand and surging U.S. output may keep prices in check.

The International Energy Agency said on Friday that U.S. oil production growth combined with a slowing global economy would put oil prices under pressure.

“By the middle of the year, U.S. crude output will probably be more than the capacity of either Saudi Arabia or Russia,” said the IEA,上海夜玩网论坛Kaiden,, which kept its estimate of oil demand growth unchanged and close to 2018 levels at 1.4 million barrels per day.

(GRAPHIC: Russian, U.S. & Saudi crude oil production – tmsnrt.rs/2CTwqaq)

Blank-check company IPOs moving ahead despite U.S. government shutdown

( ) – A corner of the market for initial public offerings is evading the freeze on stock market flotations inflicted by the U.S. government shutdown, putting the spotlight on listings that usually stay under most investors’ radar.

“Blank-check” companies, which launch IPOs to raise money for acquisitions, are taking advantage of their unique structure to proceed without the approval of the Securities and Exchange Commission, which has been paralyzed by the longest government shutdown in U.S. history.

With other stock market debuts on hold while the SEC remains largely closed, these companies, also known as special purpose acquisition vehicles (SPACs), have the IPO limelight all to themselves.

“Right now, SPACs are a way for investors to participate in the IPO market when there is no other market,” said Gregg Noel, head of the West Coast capital markets practice of U.S. law firm Skadden, Arps, Slate, Meagher & Flom LLP.

In a confrontation with Democrats, U.S. President Donald Trump has demanded funding for a physical wall on the Mexican border to end the shutdown, which ,上海夜网千花Mabel,entered its 33rd day on Wednesday and has left 800,000 federal workers without pay. While both sides have offered some small concessions, an agreement that would resolve the standoff remains elusive.

Most companies rely on the SEC to greenlight their IPO following its review of their prospectus to investors.

Under SEC rules, however, companies can make their IPO registration “effective” on their own if they agree to lock in their IPO price 20 days before their market debut.

SPACs are essentially shell vehicles with no pre-existing assets and their initial valuation is based solely on the amount of cash they raise, which allows their IPO price to be set in advance without alienating investors.

What is more, a SPAC’s prospectus can often follow a standard template, minimizing the risk of running afoul of the SEC without its feedback.

“If SPACs are the majority of IPOs and this is in the news, it could elevate their profile. SPACs could become less of a niche investment,” said Eric Pestrue, senior investment analyst at investment firm RiverNorth Capital Management LLC.

At least half a dozen SPACs have amended their filings to go public without the SEC’s input, regulatory filings showed. Nine SPACs are on file publicly for an IPO, according to IPO-focused research firm Renaissance Capital.

Excluding SPACs, some 80 companies have publicly filed with the SEC for an IPO, according to Renaissance Capital.

Companies such as ride-hailing startups Uber Technologies Inc and Lyft Inc have been unable to move forward while they wait for the SEC to resume business.

New Fortress Energy, an own,上海夜生活网419Jace,er of LNG liquefaction and regasification facilities that is scheduled to price its IPO this week, will not go ahead with its plans if the shutdown continues, according to a person familiar with the matter.

No company has completed an IPO on the U.S. stock market since the shutdown started on Dec. 22.


SPAC IPOs have never上海夜生活网 gotten much traction with long-term investors because of the risks involved: investors do not know in advance which company a SPAC will buy, although some do outline what sectors they want to be active in. Many of their investors have ended up being hedge funds speculating on the SPACs’ ability to complete their targeted acquisition.

“The primary reservation investors have about SPACs is that it’s a new product and they don’t fully understand it,” said Chinh Chu, a former Blackstone G,上海晚上耍女人的地方Caden,roup (BX.N) dealmaker who has done two SPACs.

“It is important for SPACs to have high-quality management teams and to explain their strategy clearly in order to attract the large mutual funds,” Chu added.

Most SPACs have also not offered much of a reward. SPACs have returned an average of 8 percent between 2014 and 2018, compared with 28 percent for the broader IPO market, according to data provider Dealogic.

The attention on SPACs during the shutdown could boost this niche asset class, which makes up about 20 percent of the U.S. IPO market.

“SPACs are having their day right now, for sure. Could the shutdown increase it? I think it is contingent on the government remaining shut and interesting deals coming,” said Howard Fischer, chief executive and founding managing partner of Basso Capital, a SPAC-focused hedge fund.

Sprint beats on revenue, loses fewer phone subscribers

( ) – Sprint Corp on Thursday posted third-quarter revenue that beat estimates while the U.S. wireless carrier lost fewer customers than expected even as it cut back on price promotions to improve financials.

The company posted a net loss of 3 cents a share versus a net profit last year, when it benefited from a U.S. tax cut. Analysts had expected a loss of just 2 cent a share.

Chief Exec,上海夜生活网交流Tallulah,utive Officer Michel Combes told analysts during the earnings call that Sprint must complete its merger with T-Mobile US Inc to effectively compete against larger rivals Verizon and AT&T. At the same time, it has pursued a plan to pull back on expensive price promotions to stabilize the business, which has struggled with negative perceptions of network quality.

Shares of Sprint, the No. 4 carrier with over 54 million total customers, were up 1.66 percent at $6.14 in morning trading.

Sprint lost a net 26,000 so-called “postpaid” phone subscribers who pay a recurring bill during the third quarter ended Dec. 31, fewer than the 32,000 subscriber losses analysts had expected, according to research firm FactSet.

Total net operating revenue rose 4.4 percent to $8.60 billion, beating forecasts by analysts who had expected revenu,上海晚上耍女人的地方Mace,e of $8.43 billion.

The company has focused on promoting data plans for devices like tablets and smartwatches, which helps customers stick with the carrier longer if they have more devices on the network.

Sprint reported a net loss of $141 million, or 3 cents per share, in the quarter, compared with a net income of $7.16 billion, or $1.76 per share, a year earlier, when the company benefited from a change in U.S. tax laws.

Analysts were expecting the company to report a loss of 2 cents per share, according to IBES data from Refinitiv.

In July, Sprint revamped its unlimited wireless plans to inclu上海夜网de more perks at higher prices, in order to make more money from customers on the plans.

But the company warned churn, or the rate of,夜上海论坛Dallas, customer defections, could rise in the near-term due to the higher prices. Churn for the third quarter increased to 1.84 percent, up from 1.71 percent last year.

Sprint said it continues to expect cash capital expenditures between $5 billion to $5.5 billion.

Exclusive: No-deal Brexit puts Bentley’s return to profit at risk

CREWE, England ( ) – Loss-making carmaker Bentley is on track to be profitable this year but a no-deal Brexit puts that at “fundamental risk”, its boss told , adding that the chance of Britain leaving the EU on March 29 with a deal now seemed “fairly low.”

Britain, the world’s fifth largest economy, is due to leave the European Union, the globe’s biggest trading bloc, in 66 days but the government’s negotiated deal was rejected by lawmakers, leaving open the possibility of a disorderly Brexit.

The car industry, which employs over 850,000 people in the country, has warned that any tariffs and customs checks would hit firms such as Bentley’s parent company Volkswagen (VOWG_p.DE) as it both exports from Britain and imports vehicles and components.

Bentley, which made a 137 million-euro ($156 million) loss in the first nine months of last year, is undergoing a turnaround under new boss Adrian Hallmark, who said the group is on course to return to the black, but that plan could be undone depending on the form Brexit takes.

“It’s Brexit that’s the killer,” he told .

“If we ended up with a hard Brexit… that would hit us this year because we do have a potential to get beyond break-even to do the turnaround.”

“It would put at fundamental risk our chance of becoming profitable.”

Like other carmakers, the high-end brand is taking steps to prepare, including building up stocks of imported parts from two days to 10 days and building a higher proportion of cars for some non-European markets in the next few months.

“We will build more cars for China or the U.S. than we would normally do in the six-month period,” Hallmark said.


Hallmark said he believed the company was prepared and did not plan to temporarily halt output after Britain leaves the bloc on March 29, as planned by fellow automakers Mini and Honda.

“Carry more stock, and it’s a few million (pounds) per year … If we had to stop production, then that would be a similar value per day,” he said.

Hallmark said were three possible outcomes on Brexit: a deal by March 29 which has a “fairly low” probability, no deal with “a degree of unrest and chaos” or an extension to Britain’s EU membership.

German automakers BMW (BMWG.DE), Daimler (DAIGn.DE) and Volkswagen made around 40 percent of the 2.37 million cars sold in Britain last year, with less than 10 percent of the total built in the country.

In 2016, Britain was the largest single expo,上海夜生活Idaline,rt market for German automakers, which sold 800,000 new cars there, or 20 percent of their overall global exports.

Of the top 10 automotive plants which export the highest proportions of their output to Britain, seven are in Germany, including Ford (F.N) in Cologne, PSA (PEUP.PA) in Eisenach, Volkswagen in Ingolstadt and Mercedes in Bremen, according to data compile,上海夜生活网419Fabiana,d by LMC Automotive.

Britain’s Brexit negotiators have pointed to the car industry as an example of where the EU would lose out if there were new trade barriers, a source close to the matter told last year.

VW-owned Bentley, based in the northern English town of Crewe, recorded a 5 percent decline in 2018 sales to 10,494 vehicles, hit by a delay in the arrival of its Continental GT model. In China, sales rose 19 percent.

Asked whether the company might move some Bentley production out of Britain to overcome any Brexit hit, Hallmark said he did not see that happening in the medium term.

“You can never say never but there’s no intention of moving what we have to other facilities because of Brexit,” he said.

“When we look at new products, are they under question? Of course they ar上海夜生活论坛e like every product ,上海足浴夜网联系方式Hal,that is in there was under question … We have to be competitive and we are.”

Sears chairman prevails in bankruptcy auction for retailer with…

NEW YORK ( ) – Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open, people familiar with the matter said Wednesday.

Lampert’s bid, boosted from an earlier $5 billion offer, prevailed after weeks of back-and-forth deliberations that culminated in a days-long bankruptcy auction held behind closed doors. The billionaire’s proposal, made through his hedge fund ESL Investments Inc, will save up to 45,000 jobs and keep 425 stores open across the United States.

Lampert boosted his bid by adding more cash and assuming more liabilities, the sources said. The auction, held at the Manhattan offices of Weil, Gotshal & Manges LLP, the law firm representing Sears, concluded in the early morning hours of Wednesday.

There remains a chance the deal c上海夜生活网ould fall apart, as it still must be documented and approved by a U.S. bankruptcy judge. A hearing is expected to be scheduled for later this week.

A group of creditors is objecting to the deal, one of the sources said.

The sources asked not to be identified because the matter is confidential. Spokespeople for Sears and ESL did not immediately return requests for comment.

Lampert’s only challenger in the auction was Sears itself, and how much it would reap in a sale of its businesses and assets in pieces, the people said.

The deal faced a number of hurdles before the sides reached an agreement.

A creditor group had been calling for its liquidation, saying they would recover more in a wind-down and through lawsuits against ESL for deals it had done with Sears in the past. Lampert has said they were proper.

Sears had believed Lampert’s,上海夜网Oakley, earlier bids fell short of covering the bills the retailer has racked up since filing for bankruptcy protection in October. A bedrock principle of bankruptcy cases is that those expenses must be fully repaid.

The retailer is one of the highest-profile victims of the financial carnage in retail to,上海夜生活论坛Lance, date as online shopping on sites including Amazon.com Inc soared in popularity.

Unlike Sears, which plans to remain in business, toy seller Toys “R” Us Inc and department store The Bon-Ton Stores Inc closed down last year after losing the support of debt investors or failing to find a buyer.

L,上海晚上耍女人的地方Babette,ampert, Sears’ biggest lender and shareholder before it filed for bankruptcy, merged the department store with discount chain Kmart in 2005 in an $11 billion deal.