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

Nippon Life president says actively exploring M&A in U.S.

TOKYO ( ) – Nippon Life Insurance Co is actively seeking mergers and acquisitions overseas, with a focus on the United States and Asia’s emerging economies, the president of Japan’s largest life insurer said on Monday.

Japanese insurers have been among the most aggressive in overseas acquisitions. Yet, unlike smaller rivals, Nippon Life has not made a deal in the United States, except for a minority stake in asset management company TCW Group in 2017.

“The United States is the world’s largest life insurance market. We are looking for ,上海夜网邀请码Barney,ways to expand our ,上海夜玩网论坛Cade,business there,” President Hiroshi Shimizu told in an interview.

“We would also like to explore various possibilitie,上海高端夜生活在那里Dakota,s in Asia’s emerging countries,” he said, but did not provide details.

While life insurers say there is still room for growth in Japan as its ageing demographics is likely to create demand for new insurance products in nursing and medical care, they are under increasing pressure to look overseas as their home market is faced with a shrinking population.

Nippon Life is a mutual company owned by its insurance policy holders. It has made a string of acquisitions in recent years and had total assets of about 78 trillion yen ($711.6 billion) as of the end of September last year.

Last year, Nippon Life bought an 85.1 percent stake in the Japanese unit of U.S.-based MassMutual Financial Group for about 100 billion yen, with the aim of tapping MassMutual’s wealthy clientele. In 2016, it made a $2.5 billion purchase of smaller domestic rival Mitsui Life Insurance Co to bolster sales through bank branch network上海夜生活网s.

With these acquisitions and a new company being readied for third-party insurance agents sales channel, Shimizu said Nippon Life has acquired units necessary for the domestic life insurance business for the time being.

The company is now shifting greater emphasis to building up overseas businesses.

Nippon Life bought an 80 percent stake in MLC Ltd, operator of Australia’s fourth-largest life insurer, from National Australia Bank Ltd (NAB.AX) for A$2.4 billion in 2016.

But Nippon Life is the only one among Japan’s top four private-sector life insurance companies that has not made a major acquisition in the United States.

Rival Dai-ichi Life Holdings Inc (8750.T) bought U.S. insurer Protective Life Corp for about $5.6 billion in 2015, followed by Sumitomo Life’s $3.7 billion acquisition of Symetra Financial Corp and Meiji Yasuda Life’s $5 billion buy of StanCorp Financial Group in 2016.

“We cannot expand life insurance and asset management by ourselves alone overseas, we need to find partners that we can have long-term trust relationship with,” Shimizu said.

Chelsea Manning eyes U.S. Senate seat for Maryland

(This January 13 story was refiled to correct paragraph 6 to “transgender”)

WASHINGTON ( ) – Chelsea Manning, the transgender U.S. Army soldier who served seven years in military prison for leaking classified data, is seeking the Democratic Party’s nomin上海夜生活ation for the U.S. Senate seat from Maryland, according to Federal election filings seen on Saturday.

Manning, who was granted clemency by former U.S. President Barack Obama, was relea,夜上海419龙凤论坛Ebba,sed in May from a U.S. military prison in Kansas where she had been serving time for passing secrets to the WikiLeaks website in the biggest breach of classified data in the history of the United States.

Democratic Senator Ben Cardin was elected in 2006 to that seat and is expected to run for re-election this year. He is the senior Democrat on the Senate Foreign Relations Committee.

Cardin was easily re-elected in 2012, beating his Republican challenger by 30 points in the heavily-Democratic state.

Manning had been working as an intelligence analyst in Iraq,上海夜生活桑拿会所Idaia,. She was convicted by court-martial in 2013 of espionage and other offenses for furnishing more than 700,000 documents, videos and diplomatic cables to WikiLeaks, an international organization that publishes information from anonymous sources.

She came out as transgender shortly after her sentencing, but the mil,上海夜网邀请码Quaid,itary denied her request for hormone therapy treatment while behind bars. She was placed in solitary confinement after attempting suicide twice.

Long winter’s nap? Global slowdown, market fears could extend Fed…

WASHINGTON ( ) – Ebbing global growth and shaky financial markets threw the U.S. Federal Reserve off course in early 2016, and it took nearly a year for officials to regain confidence growth would continue and convince investors they would again raise interest rates.

Similar conditions confront Fed policymakers as they meet this week, with market skepticism about further rate hikes as deep as it was three years ago, and a stalemate over global trade, a U.S. federal government shutdown, and waning business and consumer confidence further clouding the picture.

Policymakers have been clear they plan a “patient” pause in rate hikes. The challenge for Fed chairman Jerome Powell is how much of a pause to signal without leaving the public convinced that the Fed’s current cycle of rising interest rates has come to a full stop.

“Realistically it is a second half of the year story,” for the Fed to feel secure the U.S. recovery is sturdy enough to warrant further rate increases, said Robin Brooks, chief economist for the Institute of International Finance. While some current conditions are healthier than they were in 2016, with historically low unemployment, for example, “what’s different on the negative side is the sheer amount of noise in the system.”

That includes issues, such as the U.S.-China trade spat that could be resolved soon, clear away some of the doubts that are holding back business spending, and improve the Fed’s outlook.

But policymakers are now in no rush, with some framing the likely pause in terms of “months” that may be needed for risks to subside enough for them to approve the next of two rates hikes expected for the year.

Even that may be optimistic. While economists polled by this month see those hikes delayed by a quarter compared with a December survey, financial markets do not price in any rate increases in 2019.

Some economists now argue the central bank’s next move will be to loosen monetary policy – whether through a rate cut, or slowing the monthly rundown of the Fed’s balance sheet that acts as a further, if small, tightening of economic conditions each month.

The drawdown of the balance sheet by up to $50 billion a month was designed as a non-controversial way to reverse the Fed’s accumulation of trillions of dollars during the financial crisis a decade ago. But there has been increasing pressure — from markets and President Donald Trump – for the central bank to slow the process or stop altogether.

BALANCING ACT

The Fed “needs a graceful way to back off” a three-year-old tightening cycle that was expected to continue into next year, wrote Steven Blitz, U.S. economist for TS Lombard. He said he anticipated the Fed will signal its new plans by changing the balance sheet program at this meeting or the next one in March, then be forced to cut rates later ,上海夜生活Jackson,in the year.

The Jan. 29-30 Fed meeting this week is the first of 2019. There will be no updated rate or economic projections from policymakers, but Powell is set to hold the first of eight post-meeting news conferences scheduled for the year, one after every session of the Feder,上海夜生活怎么玩Macey,al Open Market Committee.

It marks a change from the previous practice of briefing the media after every other meeting, a step Powell said will increase public transparency, and for,上海夜生活论坛Hadleigh,ce investors to treat each Fed session the same.

It also doubles the chance for a communications misstep, and next week’s appearance will pose a “delicate” communications as Powell weighs the fact that a strong U.S. economy may warrant higher rates against slowing world growth and financial markets flashing recession fears, said J.P. Morgan economist Michael Feroli said in a preview analysis of the coming Fed session.

“We think they will try to avoid giving the impression that pause equals stop (or even cut) or that the economic outlook has materially downshifted.”

The Fed has rarely followed an extended pause in rate increases with a renewed push higher. The last time it did was in the mid-1990s during the “Great Moderation” period of steady growth and surging productivity.

Yet that is what Powel上海夜生活网l may have to engineer, soothing for now anyone nervous about the depth of a possible slowdown without promising that rates will not go up anymore, and clarifying along the way what may happen with the balance sheet.

“The essential debate…is whether the FOMC would still prefer to signal to the market that the next change in interest rates is likely higher or whether it should emphasize patience and remove rate guidance altogether,” Barclays economist Michael Gapen wrote. The latter, he said, may calm markets today, but set the stage “for undesirable volatility later” if the Fed does need to hike again.

Written by shyw on May 26, 2019 Categories: trlixvgg Tags: , ,

Swiss Railways will not take new Bombardier trains until earlier…

ZURICH/MONTREAL ( ) – Swiss Federal Railways said it would not take new trains from Bombardier (BBDb.TO) until the Canadian company fixes the ones already in service, raising questions over the timing of future deliveries for the 1.9 billion Swiss franc ($1.9 billion) contract.

Bombardier investors are watching the ,上海021夜网Idaline,62-train Swiss order, one of a handful of rail contracts impacted by delivery delays that generated a disappointing free cash flow result last year and subsequent selloff of Bombardier stocks and bonds.

A Bombardier spokesman said problems with the Swiss trains would not cause “significant changes” to the company’s working capital outlook and were expected to be resolved within weeks, although he declined to provide a delivery schedule.

Swiss Federal Railways spokesman Reto Schärli said future Bombardier deliveries for the country’s largest-ever rail contract would follow fixes to the 12 trains now in service, including doors that don’t close properly and uncomfortable rolling that makes some passengers nauseous.

“We’re not going to be doing any experimenting with our passengers,” he to,上海夜生活怎么玩Quay,ld , adding the federal rail service does not yet have an estimate for when the problems would be fixed.

A Bombardier spokesman said a “majority of technical issues” were related to a door-system from a supplier, which was working on a solution.

“We are confident that we will resolve the current teething issues we are experiencing and do not see significant changes to our working capital outlook,” said Thomas Schmidt, a spokesman for Bombardier’s Berlin-based r,夜上海论坛Cade,ail unit, the company’s largest division by revenue.

Bombardier blamed the higher-than-expected use of cash in 2018 to delays in the rail contracts, since train makers ar上海夜生活论坛e paid upon delivery. The company said cash from the orders, including the one from Swiss, would be moved mainly to 2019.

($1 = 0.9981 Swiss francs)

BOJ maintains massive stimulus as Kuroda warns of growing risks

TOKYO ( ) – The Bank of Japan cut its inflation forecasts on Wednesday but maintained its massive stimulus program, with Governor Haruhiko Kuroda warning of growing risks to the economy from trade protectionism and faltering global demand.

Rising pressure from the trade war between China and the United States — Japan’s biggest trading partners — is adding to strains on the world’s third-largest economy and undermining years of efforts by policymakers to foster durable growth.

Data earlier in the day showed Japan’s exports in December fell the most in two years.

“To be honest, if U.S.-China trade tensions are drawn out, there will be a serious risk to the global economy – first to the two countries’ own economies,” Kuroda told a news conference after the end of the two-day policy review.

“For now, that possibility is slim, and I hope they will resolve this soon.”

As expected, the BOJ trimmed its inflation forecasts, reinforcing views that it will have to stick with its unprecedented economic support for some time to come.

But despite rising risks such as trade ,上海夜生活男人好去处Falkner,disputes and Brexit, the central bank also maintained its view that Japan’s economy will continue to expand at a modest pace.

Kuroda struck an optimistic tone, saying the economy would likely continue expanding through fiscal 2020.

However, a recent poll of economists showed external factors have increased the chances of Japan sliding into a recession in the fiscal year starting in April, making it even harder for the BOJ to reach its elusive 2 percent inflation target.

China on Monday reported its slowest growth in nearly three decades and it is expected to lose more steam in coming months. The International Monetary Fund (IMF) trimmed its global growth forecasts and a survey showed increasing pessimism among business chiefs amid the trade tensions.

“Such downside risks concerning overseas economies are likely to be heightening recently, and it also is necessary to pay close attention to their impact on firms’ and households’ sentiment in Japan,” the BOJ said in a quarterly outlook report released along with the policy decision.

The BOJ reiterated a pledge to continue buying Japanese government bonds and left its short-term interest rate target unchanged at minus 0.1 percent. It also said it would keep guiding 10-year government bond yields around zero percent.

“It will be difficult for the BOJ to discuss policy normalization or an exit strategy for the moment as risks from global economies are rising,” said Hiroaki Mutou, chief economist at Tokai Tokyo Research Institute.

“The central bank will likely save easing measures for later and it will examine how the Fed policy movement will be and how it will likely impact the yen,” he said.

Concerns about a global slowdown and volatile financial markets have prompted the U.S. Federal Reserve to take a more cautious stance on future interest rate increases after four hikes last year, weighing on the dollar.

LOWER INFLATION FORECAST

In its outlook report, the BOJ’s nine-member board cut its economic growth projections for the current fiscal year to March but raised its growth forecasts slightly for the fiscal years 2019 and 2020, with government spending expected to offset the pain of a planned sales tax hike this October.

The BOJ cut its forecast for core 上海夜生活论坛consumer inflation to 0.9 percent in the coming fiscal year from 1.4 percent, reflecting slumping oil prices. It was the fourth downward revision by the central bank to its inflation forecast for fiscal 2019 since it was first issued in April 2017.

That was still above a 0.7 percent forecast by analysts polled by .

The central bank also trimmed core consumer inflation view for fiscal 2020 to 1.4 percent, from 1.5 percent forecast in October.

Many economists believe the BOJ’s next move will be to start normalizing policy, with steps likely to include expanding its 10-year bond yield fluctuation from 0.2 percent and raising the 10-year yield target from around zero percent.

A majority expect that would happen in 2020 or later.

As part of efforts to prevent financial institutions from sitting on a huge pile of cash, the central bank decided to extend the deadline by one year for lending schemes aimed at encouraging financial institutions to boost loans and support growth foundations .

The BOJ’s radical stimulus program has had some unintended,上海夜网邀请码Mace, consequences, as years of low rates hurt financial institutions’ profits.

The central bank has also amassed a mountain of Japanese government bonds and exchange-traded funds (ETFs) in its marathon asset buying spree, risking distor,上海夜网后花园Landon,tions in financial markets.

Many BOJ policymakers are wary of ramping up stimulus, though external shocks or a sudden spike in the yen could force the central bank to do just that if the economy is at risk of sliding into recession.

Before start of new oil pact, OPEC made progress averting glut

LONDON ( ) – OPEC cut oil output sharply in ,上海夜生活论坛Gabriella,December before a new accord to limit supply took effect, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand.

The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years.

Worried by a drop in oil prices and rising supplies, OPEC and allies including Russia agreed in December to return to production cuts in 2019. They pledged to lower output by 1.2 million bpd, of which OPEC’s share is 800,000 bpd.

OPEC Secretary General Mohammad Barkindo told that producers were seeking to avoid a build-up in the industrialized world’s oil inventories above the five-year average.

They were above that mark in November, figures in OPEC’s report showed.

“We are not yet out of the winter woods,” he said. “The oil industry cannot afford to relapse into another downturn,” he said in reference to a 2014-2016 oil market slump.

The supply reduction in December means that if OPEC fully implements the new Jan. 1 cut, it will avoid a surplus that could weaken prices. Oil LCOc1 slid from $86 a barrel in October to less than $50 in December on concerns over excess supply.

OPEC expects 2019 global oil demand growth to slow to 1.29 million bpd from 1.5 million in 2018, though it was more upbeat about the economic backdrop than last month and cited better sentiment in the oil market, where crude is back above $60.

“While the economic risk remains skewed to the downside, the likelihood of a moderation上海夜网 in monetary tightening is expected to slow ,上海夜生活Tabitha,the decelerating economic growth trend in 2019,” OPEC said in the report.

Barkindo added that he remains optimistic that “healthy demand” would hold this year.

The supply ,上海夜网推油Idris,cut was a policy U-turn after the producer alliance known as OPEC+ agreed in June 2018 to boost supply amid pressure from U.S. President Donald Trump to lower prices and cover an expected shortfall in Iranian exports.

OPEC changed course after the slide in prices starting in October. A previous OPEC+ supply curb starting in January 2017 – when OPEC production fell by 890,000 bpd according to OPEC figures – got rid of the 2014-2016 glut.

The group confirmed on its website that it plans to meet over April 17-18 in Vienna to review the supply cut agreement. OPEC sources said another meeting could follow in June.

SAUDI CURBS

The biggest drop in OPEC supply last month came from Saudi Arabia and amounted to 468,000 bpd, the report showed.

Saudi supply in November had hit a record above 11 million bpd after President Trump demanded more oil be pumped.

The kingdom told OPEC that it lowered supply to 10.64 million bpd in December and has said it plans to go even further in January by delivering a larger cut than required under the OPEC+ deal.

The second-largest was an involuntary cut by Libya, where unrest led to the shutdown of the country’s biggest oilfield.

Iran registered the third-largest decline in output, also involuntary, as U.S. sanctions that started in November discouraged companies from buying its oil.

Iran, Libya and Venezuela are exempt from the 2019 supply pact and are expected by some analysts to post further falls, giving a tailwind to the voluntary effort by the others.

OPEC said in the report that 2019 demand for its crude would decline to 30.83 million bpd, a drop of 910,000 bpd from 2018, as rivals pump more and the slowing economy curbs demand.

Delivering the 800,000 bpd cut from December’s level should mean the group would be pumping slightly less than the expected demand for its crude this year and so avoid a surplus. Last month’s report had pointed to a surplus.

The figures for OPEC production and demand for its crude were lowered by about 600,000 bpd to reflect Qatar’s exit from the group, which now has 14 members.

Written by shyw on May 19, 2019 Categories: zegkczqm Tags: , , ,

Shutdown costs pegged at $3 billion as government reopens

WASHINGTON ( ) – The U.S. economy was expected to lose $3 billion from the partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday as 800,000 federal employees returned to work after 35 days without pay.

The nonpartisan Congressional Budget Office said the cost of the shutdown would make the U.S. economy 0.02 percent smaller than expected in 2019. More significant effects will be felt by individual businesses and workers, particularly those who scrambled to make ends after not being paid.

Overall, the U.S. economy lost about $11 billion during the five-week period, the CBO said. It expects $8 billion to be recovered, however, as the government reopens and employees receive back pay.

The longest shutdown in U.S. history ended on ,上海夜网后花园Lance,Friday when Trump and Congress agreed to temporary government funding – without money for his U.S.-Mexico border wall – as the effects of the shutdown intensified across the country.

Related CoverageU.S. GDP report likely released next week: White House’s KudlowU.S. fourth-quarter GDP, December income spending reports delayed

The Republican president had demanded that legislation to fund the government contain $5.7 billion for his long-promised wall. He says it is necessary to stop illegal immigration, human trafficking and drug smuggling, while Democrats call it costly and inefficient.

A committee of Republican and Democratic lawmakers have scheduled an initial meeting on Wednesday, which will be open to the public, as they try to negotiate a compromise on border security before the Feb. 15 deadline.

That session is likely to see little more than opening statements by lawmakers. Subsequent meetings could be conducted in private, where the hard bargaining would take place, several congressional aides said.

Owing to rules governing legislation in the House of Representatives requiring a 72-hour period for lawmakers to review legislation before having to vote on it, the committee might have to wrap up its work by around Feb. 10 in order to meet a Feb. 15 deadline for congressional approval.

Trump said he would be willing to shut,上海新夜网龙凤Octavia, down the government again if lawmakers do not reach a deal he finds acceptable on border security. On Sunday, he expressed skepticism such an deal could be made.

Trump has also said he might declare a national emergency to get money for the border wall. Democrats would likely challenge that in court.

WELCOMED BACK TO WORK

Democratic lawmakers said the CBO report served as a stark warning to Trump against another shutdown.

“Families across the nation are still trying to recover from a month of missing paychecks and overdue bills, but the president is already threatening a second shutdown if he doesn’t get his way,” said House Speaker Nancy Pelosi, the top U.S. Democrat.

Most employees should be paid by Thursday for back wages, which one study estimated at $6 billion for all those who worked without pay or were furloughed. Contractors and businesses that上海夜生活 relied on federal workers’ business face huge losses, although some lawmakers are pushing legislati,上海晚上耍女人的地方Oakley,on to pay contractors back as well.

Federal workers poured out of Washington’s public transportation system on Monday. Federal Communications Commission Chairman Ajit Pai greeted employees in the lobby, while the Securities and Exchange Commission offered doughnuts, fruit and coffee.

The National Transportation Safety Board said on Monday it had been unable to send investigators to 22 accidents during the shutdown, including 15 aviation accidents resulting in 21 deaths. “These 22 accidents now require investigative action,” the safety agency said, but added that evidence “may have been lost.”

The National Highway Traffic Safety Administration was reviewing five weeks of auto safety recalls that had been submitted by automakers, but has not yet begun posting them publicly.

Schlumberger shares rise on lower 2019 capex, international outlook

( ) – Oilfield services provider Schlumberger NV (SLB.N) said on Friday it would spend less in 2019 and forecast single-digit growth in international markets this year, sending its shares as much as 5 percent higher.

With the sharp drop in oil prices since 2014 many producers have evaluated spending budgets for 2019, stoking concerns that a slowdown in activity would hurt oilfield service companies, which have struggled to boost their prices.

Schlumberger, a bellwether for the oilfield services sector, expects full-year 2019 capital expenditure of between $1.5 billion and $1.7 billion, versus $2.2 billion in 2018, driven by lower spending in North America, Chief Executive Officer Paal Kibsgaard said on an earnings call.

Shares of Schlumberger rose more than 5 percent to $43.60 in early trading.

“The downward guidance for 2019 capital expenditures helped solidify the dividend is safe,” said Bri上海夜生活论坛an Youngberg, a senior energy analyst for Edward Jones.

Schlumberger said recent volatility in crude prices has led to even more uncertainty in the spending outlook for oil and gas producers. Crude prices have tumbled roughly 30 percent since October.

“Future investments will likely be much closer to a level that can be covered by free cash flow,” Kibsgaard said about its U.S. operator customers.

But he said that even as operators tighten their purse strings, the company had built “significant flexibility” into its 2019 operating plan. He also said supply cuts by OPEC and Russia could lead to a gradual recovery in oil prices in 2019.

And after several years of underinvestment, the compan,上海夜生活桑拿会所Hadrian,y anticipates growth in international markets, driven by higher activity in regions including Latin America, Africa and Asia.

Revenue from Schlumberger’s North America business rose 0.3 percent year over year to $2.82 billion, while international revenue rose nearly 1 percent to $5.28 billion.

Schlumberger warned in early December that fourth-quarter North America revenue would take a hit due to steeper-than-anticipated declines in the hydraulic fracturing market.

Revenue from its OneStim hydraulic fracturing businesses slid 25 percent sequentially in the fourth quarter, prompting the company to idle some of its fleets late in the fourth quarter, it said.

While analysts called Schlumberger’s results neutral to positive, investment firm Tudor Pickering Holt & Co noted they would not “do much to make investors feel a sense of urgency to dive headlong into OFS (oilfield service) stocks.”

Fourth-quarter net income was $538 million, or 39 cents per share, compared with a loss of $2.26 billion, or $1.63 per share, a year earlier when it took $2.7 billion in charges, including a $938 million write-down on its Venezuelan holdings and unpaid bills there,上海夜哪里艳遇Sabia,.

Excluding one-time items, the company earned 36 cents per share, in line with analysts’ estimates, according to IBES data from Refinitiv.

Revenue was flat at $8.18 billion, ,上海夜生活论坛Nala,compared with a year earlier, but beat the average analyst estimate of $8.04 billion.

U.S. auto sales seen down in January: J.D. Power, LMC

( ) – U.S. auto sales in January are expected to fall about 1 percent from the same month in 2018, partly due to uncertainty around government shutdown causing some customers to delay purchases, according to industry consultants J.D. Power and LMC Automotive.

Total vehicle sales in January are estimated to be about 1,141,300 vehicles, t,夜上海419龙凤论坛Kaia,he consultancies said on Tuesday.

“In addition to the disruption from inclement weather, the uncertainty of the government shutdown also caused some customers to delay their purchases,” said Thomas King, senior vice-president of the data and analytics division at J.D. Power.

Retail sales are expected to fall 2.4 percent to 864,300 vehicles in January, while the overall total seasonally adjusted annualized rate for vehicles is expected to be about 16.8 million vehicles, down 2.3 percent from a year ago.

This would be the third consecutive year where retail sales are expected to show declines at the start of the year, according to the consultancies.

The average transaction price, however, is expected to be about $33,285 in January, compared with the previous high of $32,313 a year ago.

Incentive spending per unit in January is expected to be about $3,720, down from $3,856 during the same period a year ago, J.D. Power and LMC said.

The consultancies also forecast 2019 total light-vehicle sales to fall 1.9 percent to about 17 million vehicles, compare,上海021夜网Cadence,d to 2018.

The National Automobile Dealers Association (NADA) last month forecast a drop in new vehicle sales in 2019 cit,上海夜玩网论坛Dakota,ing highe上海夜生活论坛r interest rates and rising prices.

Exclusive: NYC Transit stops Bombardier deliveries until problems…

MONTREAL ( ) – New York City Transit will stop taking new train car deliveries from Bombardier Inc (BBDb.TO) until it fixes existing cars, as the Canadian aerospace and transportation company faces pressure to improve performance at its rail unit, its largest division by revenues.

NYC Transit President Andy Byfor,上海夜生活网交流Kaia,d told a Metropolitan Transportation Authority (MTA) committee meeting this week that Bombardier is not making a “case” to win future rail contracts from its longstanding customer, fo,上海晚上耍女人的地方Fabiana,llowing performance problems and delivery delays on the 300 subway car order, according to a webcast of the meeting viewed by .

Bombardier has made progress in meeting its latest delivery schedule on the order worth about $600 million, but several of its R179 subway cars were pulled from service recently, partly because of air compressor software defects, members of the MTA’s Capital Program Oversight Committee were told on Tuesday night.

“The most recent thing we’ve done is stopped delivery,” Byford said. “And we’re not yet turning that delivery mechanism back on until they get their act together.”

Bombardier spokesman Eric Prud’Homme said the company is working with NYC Transit to approve a “technical solution” that would return the trains to service.

“We expect this to happen shortly,” Prud’Homme said. A spokesman for MTA, which oversees NYC Transit, referred to the webcast when contacted by for a comment.

Bombardier shares gave up early gains to trade down about 2 percent soon after the report.

Montreal-based Bombardier’s rail unit accounts for about 55 percent of total revenue and has an order backlog of $34 billion. But some older contracts are marred by delays and performance problems.

Bombardier has said it will focus on growing its rail and business jet divisions after the company ceded a controlling stake in its flagship CSeries jet program to Airbus SE (AIR.PA) and sold its Q400 turboprop aircraft program to Canadian aircraft manufacturer to Viking Air.

Its stock fell sharply after the last quarterly earnings in November when the company missed cash flows due to troubles with a handful of delayed rail orders.

On Tuesday, reported that Swiss Federal Railways would not take new trains from Bombardier until it fixes the ones already in service.

“CHRONICALLY LATE”

Bombardier has delivered 160 cars from the 2012 NYC order of 300 R179 subway cars, worth about $600 million. The order is now expected by September 2019, compared with an original completion date of early 2017.

The MTA is undergoing a 10-year plan to modernize the city’s transit, with billions of dollars of investment earmarked for thousands of new subway cars. “I have just made it very clear to them (Bombardier) that they are certainly not making their case for new orders very favorable. And that right now I wouldn’t be wasting my board’s time in asking for the business for them,” Byford said. “If we’re comparing bids and we know that someone is chronically late, by not just a couple of months, but a couple of years, this board will remember that,” MTA board member Susan Metzge,上海夜网后花园Sabina,r said. Prud’homme said Bombar上海夜生活论坛dier is taking responsibility for the trains, and has over 50 full-time employees in NYC working to support the R179 fleet. The company will have to provide at least 16 additional trains above the 300, free of charge and MTA board members were told the agency is in negotiations for an additional two trains as damages.

Separately, Bombardier said on Thursday it will buy a wing manufacturing unit from aircraft parts supplier Triumph Group (TGI.N) to boost its business jets program.

Volvo’s self-driving car venture gets nod to test on Swedish roads

STOCKHOLM ( ) – A Volvo Cars joint venture has won approval to begin hands-free testing of its software for self-driving cars on Swedish highways, partner Veoneer said on Monday.

Veoneer said the Zenuity joint venture’s software for Level 4 autonomous driving – the second highest level – would be tested in a Volvo car by trained drivers with their hands off the steering wheel at a maximum speed of 80 kilometers per hour (50 miles per hour).

The venture is striving to keep up with larger rivals in the race to develop self-driving vehicles.

U.S. companies are leading the pack,,上海夜网邀请码Paige, with Google’s Waymo last year winning the first approval to test cars without safety drivers on Californian public roads.

General Motors’ Cruise has said it is ready to deploy a self-driving car with no manual controls, while Germany’s BMW and Audi have also secured testing rights.

Securing permissions has got tougher after an accident involving,夜上海论坛Quaid, a Volvo car that Uber was using to test its own self-driving software. Uber last month resumed limited testing on public roads.

Zenuity has been running tests in Sweden to collect data to develop autonomous functionalities and sensors, while Volvo has been carrying out separate tests to gather data to improve driver experience and study driver behavior.

Veoneer Chief Technology Officer Nishant Batra said the 上海夜生活论坛approval to do real-life tests was “essential for gathering important data and test functions”.

“It is a strong proof-point for the progress of Zenuity’s self-driving capabilities,” he said.

Veoneer spokesman Thomas Jonsson said it was too early to say when Zenuity could potentially test without a safety driver. 

Zenuity, formed by Volvo and Veoneer in 2017, is expected to have its first driver assistance products on sale by 2019 with autonomous driving technologies shortly afterwards. Volvo and its Chinese parent Geely are customers.

Volvo has goals of delivering self-driving cars sometime after 2021 and deriving a,上海夜网千花Jackson, third of its sales from fully autonomous cars by 2025.

Documents obtained from the Swedish Transport Authority showed Volvo in September secured the right to test self-driving cars at 80kph and the permit removed a previous condition that a driver has at least one hand on the steering wheel.

The cars Volvo was testing were “for the development of fully autonomous vehicles” and it was using outside parties and test drivers, a Volvo spokesman said.

A top Level 5 vehicle, or fully autonomous vehicle, will be able to navigate roads without any driver input in all conditions.

Volvo teamed up with Baidu last year to use the Chinese company’s autonomous software to develop a Level 4 car.

Nissan plans to file for damages against Ghosn: source

TOKYO ( ) – Nissan Motor Co Ltd plans to file a civil suit against ousted chairman Carlos Ghosn to claim damages resulting from the alleged m上海夜网isuse of company funds, a person with knowledge of the issue said, adding to the high-profile executive’s legal headaches.

Ghosn, who remains chairman and chief executive of Nissan’s French partner Renault SA, has already been charged with three counts of financial misconduct and has been held at a detention centre in Tokyo for nearly two months.

On Tuesday, a Tokyo court denied his request for release on bail, raising the possibility that he may remain in custody for months before his trial begins.

Ghosn denies the charges against him, which include understating his salary for a total of ,上海夜生活桑拿会所Cadence,eight years and temporarily transferring personal financial losses to Nissan’s books.

“The broader investigation (into Ghosn’s alleged financial misconduct) continues to expand, so we will file a suit after that issue has been sorted out,” said the person familiar with the issue, who spoke on condition of anonymity due to the sensitivity of the matter.

A civil suit could seek losses related to the alleged use of company funds to pay for the executive’s residences, donations to universities, and payments to a Saudi businessman who sources previously said helped Ghosn out of financial difficulties.

Nissan declined to comment on the issue.

Ghosn regularly spent more than 100 days a year flying between Nissan’s headquarters in Yokohama and cities including Paris, and had residences in Tokyo, Paris, Rio de Janeiro, Amsterdam and Beirut.

Nissan had been providing those residences to the executive, at a cost of tens of millions of dollars, but people inside the company with knowledge of the issue said the company was only aware that it had been paying rent for Ghosn’s apartment in Tokyo.

last month reported that payments for some of Ghosn’s resi,上海新夜网龙凤Barrett,dences were portioned out and processed through a Nissan unit in the Netherlands called Zi-A Capi,夜上海419龙凤论坛Sabia,tal BV and its subsidiaries, which initially had been set up to invest in technology start-ups.

Nissan has confirmed that payments related to residences and other expenses such as a yacht club membership and donations to universities in Lebanon, Ghosn’s ancestral homeland, had violated company procedures and its code of conduct, according to another person with knowledge of the issue.

It is also considering filing for damages related to 7 million euros ($7.98 million) in compensation paid last year to Ghosn from a Dutch unit set up by Nissan and Mitsubishi Motors Corp, that person said condition of anonymity, adding that Nissan’s internal investigation has confirmed that those payments were made without the knowledge of the unit’s board.

Ghosn’s arrest sent shockwaves through the auto industry and rocked Nissan’s alliance with Mitsubishi and Renault.

Having been credited for masterminding Nissan’s financial turnaround two decades ago, the executive has since been removed from chairmanship positions at both Nissan and Mitsubishi.

Stocks rally on trade hopes, dollar has first weekly gain of 2019

NEW YORK ( ) – World stock indexes jumped on Friday, with Wall Street posting a fourth straight week of gains, and the d上海夜生活网ollar had its first positive week since mid-December as optimism increased that an end is in sight to the U.S.-China trade conflict.

Stocks were boosted by a Bloomberg report that said China sought to raise its annual goods imports from the United States by more than $1 trillion in order to reduce its trade surplus to zero by 2024.

That followed a report on Thursday that U.S. Treasury Secretary Steven Mnuchin was considering lifting some or all tariffs imposed on Chinese imports. The Treasury denied Mnuchin had made any such recommendation.

While the equity rally lifted all major sectors, trade-sensitive industrials .SPLRCI posted among the biggest S&P 500 sector gains, up 1.9 percent on the day. The Philadelphia SE semiconductor index .SOX rose more than 2 percent and Germany’s exporter-heavy DAX .GDAXI was up 2.6 percent.

“There seems to be some progress going in the trade negotiations,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

While that was the biggest influence, “we’ve still got momentum since the first of the year,” he said. “Some of the money that came out of the market at year-end, whether it was high frequency traders or tax-loss selling, is coming back in.”

Adding to strength in equities and supporting U.S. Treasury yields was data that ,上海夜生活服务Lance,showed U.S. manufacturing output increased the most in 10 months in December.

Some strategists said relatively light equity trading volume this week indicated that some investors were still waiting on the sidelines.

The Dow Jones Industrial Average .DJI rose 336.25 points, or 1.38 percent, to 24,706.35, the S&P 500 .SPX gained 34.75 points, or 1.32 percent, to 2,670.71 and the Nasdaq Composite .IXIC added 72.77 points, or 1.03 percent, to 7,157.23.

The S&P 500 registered its biggest four-week percentage gain since October 2011. The index is now 8.9 percent below its Sept. 20 record close after dropping 19.8 percent below that level – near the 20-percent threshold commonly considered to confirm a bear market – on Christmas Eve.

The pan-European STOXX 600 index rose 1.80 percent and MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 1.23 percent.

Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for another round of talks aimed at resolving the trade dispute between the world’s two largest economies,上海新夜网龙凤Paisley,.

Recent indicators show signs that the Chinese economy is losing momentum.

The trade optimism boosted the dollar against other major currencies.

The dollar index .DXY rose 0.31 percent, with the euro EUR= down 0.26 percent to $1.1365.

U.S. Treasury yields rose to three-week highs as investors piled back into Wall Street.

Benchmark 10-year notes US10YT=RR last fell 12/32 in price to yield 2.7878 percent, compared with 2.747 percent late on Thursday.

Oil,上海夜生活去哪玩Ida, prices jumped about 3 percent, rising after OPEC detailed specifics on its production-cut activity to ease global oversupply.

Brent crude LCOc1 gained $1.52 to settle at $62.70 a barrel, or 2.48 percent higher. U.S. WTI crude futures CLc1 added $1.73 to settle at $53.80 a barrel, or 3.32 percent up.

GE falls after JP Morgan’s Tusa brings back focus on free cash flow

( ) – Shares of General Electric Co fell 3 percent on Tuesday after a top-rated JP Morgan analyst raised concern,上海夜网邀请码Hadleigh,s about the company’s divestiture plans and its impact on free cash flow.

Analyst Stephen Tusa, who has held a negative outlook on the stock, had in December upgraded the stock to “neutral”, saying the challenges the conglomerate fac,上海高端夜生活在那里Lark,es are better understood.

The stock rose 11 percent after Tus,上海夜生活论坛Larissa,a ditched his long-held negative view.

In a note on Tuesday, Tusa said GE’s fourth-quarter results, scheduled for Thursday, would be of less significance compared to its commentary on ailing businesses like insurance and capital services.

“We believe the focus in 4Q should turn back to these fundamentals, where we continue to point to the mechanical headwinds from dilutive asset sales, a key aspect as to why FCF (free c上海夜网ash flow) remains so weak,” Tusa said in the client note.

In its third-quarter results, GE said it will significantly miss its full-year cash flow target of about $6 billion. Analysts now expect the company’s free cash flow to be $2.69 billion, according to Refinitiv data.

GE posted a loss of $22.8 billion for the quarter, as it cut its dividend and said it faced a deepening federal accounting probe.

U.S. universities unplug from China’s Huawei under pressure from Trump

SAN FRANCISCO ( ) – Top U.S. universities are ditching telecom equipment made by Huawei Technologies and other Chinese companies to,夜上海419龙凤论坛Barrett, avoid losing federal funding under a new national security law backed by the Trump administration.

U.S. officials allege Chinese telecom manufacturers are producing equipment that allows their government to spy on users abroad, including Western researchers working on leading-edge technologies. Beijing and the Chinese companies have repeatedly denied such claims.

The University of California at Berkeley has removed a Huawei video-conferencing system, a university official said, while the UC campus in Irvine is working to replace five pieces of Chinese-made audio-video equipment. Other schools, such as the University of Wisconsin, are in the process of reviewing their suppliers.

UC San Diego, meanwhile, has gone a step further. The university in August said that, for at least six months, it would not accept funding from or enter into agreements with Huawei, ZTE Corporation (000063.SZ) and other Chinese audio-video equipment providers, according to an internal memo. The document, reviewed by , said the moratorium would last through February 12, when the university would revisit its options.

“Out of an abundance of caution UC San Diego enacted the six-month moratorium to ensure we had adequate time to begin our assessment of the equipment on campus and to prevent the campus from entering into any agreements that could later be viewed as inconsistent with the NDAA,” UC San Diego spokeswoman Michelle Franklin said in response to ’ questions about the memo.

These actions, not previously reported, signal universities’ efforts to distance themselves from Chinese companies that for years have supplied t,上海足浴夜网联系方式Caden,hem with technical equipment and sponsored academic research, but which are now in the crosshairs of the Trump administration.

The moves are a response to the National Defense Authorization Act (NDAA), which President Donald Trump signed into law in August. A provision of that legislation bans recipients of federal funding from using telecommunications equipment, video recording services and networking components made by Huawei or ZTE. Also on the blacklist are Chinese audio-video equipment providers Hikvision, Hytera, Dahua Technology and their affiliates.

U.S. authorities fear the equipment makers will leave a back door open to Chinese military and government agents seeking information. U.S. universities that fail to comply with the NDAA by August 2020 risk losing federal research grants and other government funding.

That would be a blow to public institutions such as the sprawling University of California system, whose state funding has been slashed repeatedly over the last decade. In the 2016-2017 academic year, the UC system received $9.8 billion in federal money. Nearly $3 billion of that went to research, accounting for about half of all the university’s research expenditures that year, according to UC budget documents.

HUAWEI UNDER SIEGE

The new law is part of a broader Trump administration strategy to counter what it sees as China’s growing threat to U.S. economic competitiveness and national security.

The president has slapped tariffs on a slew of Chinese goods and made it tougher for foreign companies to purchase minority stakes in U.S. tech companies, causing Chinese investment in Silicon Valley to plunge.

In addition, Trump last year signed legislation prohibiting the U.S. government from buying certain telecom and surveillance equipment from Huawei and ZTE. And he is considering a similar ban on Chinese equipment purchases by U.S. companies.

At the center of the storm is Huawei, a global behemoth in smartphones and telecom networking equipment. The company’s chief financial officer has been under house arrest in Canada since December for allegedly lying about Huawei’s ties to Iran. Another Huawei employee was arrested this month in Poland on espionage allegations.

Huawei did not respond to a request for comment.

U.S. universities have already felt the sti,上海夜玩网论坛Easton,ng of Trump’s China policies. The State Department shortened the length of visas for certain Chinese graduate students. And the administration is considering new restrictions on Chinese students entering the United States. Chinese students are by far the largest group of international students in the United States and provide a lucrative source of revenue for universities.

Pressure to dump Huawei and other Chinese telecom suppliers is adding to the strain.

In addition to the University of Wisconsin, a half dozen institutions, including UC Los Angeles, UC Davis and the University of Texas at Austin, told they were in the process of reviewing their telecommunications equipment, or had already done so and determined they were NDAA compliant.

At Stanford University, Steve Eisner, the director of export compliance, told the school did a “scrub” of the campus, but “luckily” did not find any equipment that needed to be removed.

But for Stanford and other academic institutions, Huawei is more than an equipm上海夜生活ent vendor. Huawei participates in research programs, often as a sponsor, at dozens of schools, including UC San Diego, the University of Texas, the University of Maryland and the University of Illinois Urbana-Champaign.

In addition to an explicit equipment ban, the NDAA calls for creating regulations that would limit research partnerships and other agreements universities have with China. The law requires the Secretary of Defense to work with universities on ways to guard against intellectual property theft and create new regulations aimed at protecting academics from exploitation by foreign countries. Universities that fail to comply with those rules risk losing Defense Department funding.

UC San Diego highlighted this section of the law in a campus newsletter in September.

Fears of a more rigorous crackdown from Washington would seem to be justified. In June, 26 members of Congress sent a letter to Education Secretary Betsy DeVos, sounding an alarm over Huawei’s research partnerships with more than 50 U.S. universities that “may pose a significant threat to national security.”

The lawmakers called on DeVos to require universities to turn over information on those agreements.

Separately, a White House report from June points to a research partnership on artificial intelligence between UC Berkeley and Huawei as a potential opening for China to gather intelligence that could serve Beijing’s military and strategic ambitions. That partnership started in 2016.

“COOLING” RELATIONS WITH HUAWEI

UC Berkeley spokesman Dan Mogulof said the university does not participate in research involving trade secrets. He said the school only enters research partnerships whose findings can be published publicly. Such open-source research is not subject to federal regulations.

Mogulof said UC Berkeley has no plans to change any of the research partnerships it has with Huawei. The company is involved in at least five UC Berkeley research initiatives, including autonomous driving, augmented reality and wireless technology, in addition to artificial intelligence.

Still, a person with knowledge of the matter said the university’s relationship with Huawei had “cooled,” and that some Berkeley researchers are choosing not to proceed with their research agreements with the company to avoid scrutiny from university and government officials.

The chill is spreading. The United Kingdom’s Oxford University this month cut ties with Huawei, announcing it would no longer accept funding for research or philanthropic donations.

“The decision has been taken in the light of public concerns raised in recent months surrounding UK partnerships with Huawei,” a university spokesman said in a statement.

Trump ex-aide Bannon agrees to Mueller probe interview, avoiding…

WASHINGTON ( ) – Former White House strategist Steve Bannon has reached agreement with U.S. Special Counsel Robert Mueller to be interviewed by Mueller’s investigators rather than appearing before a grand jury, a source familiar with the matter said on Wednesday.

Bannon, who was a close adviser during President Donald Trump’s 2016 election campaign and in his first months in office, had been subpoenaed to testify before a grand jury in Mueller’s probe of links between Russia and Trump’s campaign.

But the source, who spoke on condition of anonymity, said Mueller offered Bannon the option of being interviewed instead and Bannon accepted. It was unclear when the interview would take place.

An interview with prosecutors would allow Bannon to have an attorney present during his appearance, as lawyers are not permitted in grand jury rooms.

A spokesman for Mueller declined to comment on the agreement, first reported by CNN. A lawyer who represented Bannon in an appearance before the House of Representatives Intelligence Committee on Tuesday could not be immediately reached.

Bannon was fired from his White House job in August as the president sought to bring more order to his staff operations.

Earlier this month, Trump attacked Bannon for comments he made to Michael Wolff, the author of a book highly critical of the president and his family. They included scathing remarks about Donald Trump Jr., the president’s eldest son, for meeting during the campaign with a Russian lawyer who was said to have damaging information on Democratic candidate Hillary Clinton.

Mueller is investigating any ,上海夜生活群Paisley,potential collusion by Trump’s campaign with Moscow in alleged Russian meddling in the 2016 election. Russia denies such interference and Trump has denied any collusion.

According to a person familiar with the arrangement, the attorney who represented Ba上海夜生活网nnon for Tuesday’s House appearance, William Burck, is not representing him in connection with Mueller’s investigation. The person said they did not believe Bannon had hired counsel for that yet.

A House committee aide declined comment on media reports that Bannon could return to testify again as soon as Thursday.

Two other Trump associates, White House Deputy Chief of Staff Rick Dearborn and former campaign manager Corey Lewandowski, appeared before the House panel behind closed doors on Wednesday, congressional sources said.

Representative Adam Schiff, the panel’s ranking Democrat, told reporters that Lewandowski refused to disclose information to the committee about events after he left Trump’s campaign. He also declined to,上海夜生活乌托邦Dakota, say whether he had spoken to Trump about his testimony, Schiff said.

Schiff said Lewandowski was unprepared and would return to the panel another time.

An attorney for Lewandowski did not immediately return an email seeking comment.

The House Intelligence Committee is condu,上海夜生活Rae,cting one of three congressional investigations of the Russia issue, separate from Mueller’s probe.

Written by shyw on May 9, 2019 Categories: 上海夜网 Tags: , ,

Carrefour confident over overhaul despite fourth-quarter ‘yellow…

PARIS ( ) – Carrefour (CARR.PA) said on Tuesday it was confident its overhaul plan was on track, although sales growth slowed slightly in the fourth quarter as 10 weeks of anti-government protests hit hypermarket sales in its core French market.

Elsewhere in Europe, Spain and Italy remained tough spots amid competitive pressures and challenging economic conditions but Brazil continued to improve.

Europe’s largest retailer is in the midst of a five-year plan it launched exactly one year ago to cut costs and jobs, boost e,上海夜生活网419Daisy,-commerce investment and seek a partnership in China with Tencent (0700.HK) in a bid to boost profits and revenues and help it tackle competition from Amazon (AMZN.O).

The plan entails expansion into convenience stores and a greater focus on organic products and private-labels, having recently sealed,夜上海419龙凤论坛Cadence, a purchasing alliance with British rival Tesco (TSCO.L), which will bring its first benefits in 2019.

“2018 was year one of our transformation. It was a milestone year where we developed a new growth model. Everything we have achieved in,上海凤楼夜网Talon, 2018 shows we are on the right track,” Chief Executive Alexandre Bompard told analysts.

The company confirmed all its targets under the “Carrefour 2022” plan.

Among 2018 achievements, Bompard cited generating sales of 1.8 billion euros in organic food, which he said was a first step toward reaching a 5 billion euros target by 2022.

Carrefour, which reports its 2018 full-year results on Feb. 28, also said it expected 2018 recurring operating income of about 1.93 billion euros.

The reported figure for 2017 was about 2 billion euros.

‘YELLOW VESTS’

Fourth-quarter sales came to 22.6 billion euros (25.7 billion), broadly in line with expectations.

Growth reached 1.9 percent on a like-for-like basis excluding fuel and calendar effects, against 2.1 percent in the previous quarter.

The fourth quarter上海夜生活论坛 performance reflected a slightly weaker performance in France, where the “yellow vests” protests resulted in blocked access to some stores, notably hypermarkets which make 51 percent of Carrefour sales in France.

Same-store sales at Carrefour’s hypermarkets fell 2.2 percent in the fourth quarter, following a flat performance in the third quarter. Other store formats such as supermarkets and convenience stores, however, posted sales growth in the quarter.

Last week, smaller rival Casino, whose hypermarket sales make 24 percent of French revenue, said the protests cost it about 50 million euros in lost revenue.

Carrefour also faces pressure in France from discounting at rivals such as unlisted Leclerc.

In Brazil, Carrefour’s second-largest market after France, sales growth of 6.2 percent was boosted by a pickup in inflation for food products and a good performance for the Atacadao cash-and-carry stores.

Carrefour’s five-year plan has been well received by investors and in July analysts cheered the cost savings of 520 million euros achieved in the first half as a sign that execution of the plan was on track.

U.S. labor market strong; mid-Atlantic factory activity improves

WASHINGTON ( ) – The number of Americans filing applications for jobless benefits unexpectedly fell last week, pointing to sustained labor market strength that should continue to underpin the economy.

Other data on Thursday showed factory activity in the mid-Atlantic region rebounded in January from near a 2-1/2-year low, driven by a surge in new orders, which could allay concerns that manufacturing production was slowing sharply.

While the data so far suggest the economy is in relatively good shape, there are concerns an ongoing partial shutdown of the federal government could erode both business and consumer confidence, leadin,上海夜网后花园Queena,g to cuts in spending.

Initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 213,000 for the week ended Jan. 12, the Labor Department said on Thursday. Economists polled by had forecast claims would rise to 220,000 last week.

The dollar .DXY gained against a basket of currencies. U.S. Treasury yields largely rose while stocks on Wall Street were mixed.

The claims data covered the survey period for the nonfarm payrolls portion of January’s employment report.

Claims fell 4,000 between the December and January survey periods. While that would suggest little change in labor market conditions after the economy created 312,000 jobs in December, the longest government shutdown in U.S. history raises the risk,上海夜上海夜生活论坛生活网交流Paisley, of a drop in payrolls.

Some 800,000 government workers missed their first paycheck last Friday because of the partial shutdown, which started on Dec. 22 as President Donald Trump demanded that Congress give him $5.7 billion this year to help build a wall on the country’s border with Mexico.

The pay period for most federal employees that includes the week of Jan. 12 runs from Jan. 6 to Jan. 19. About 380,000 workers have been furloughed, while the rest are working without pay. Furloughed workers will probably be counted as unemployed.

“The federal government shutdown could make the payroll jobs number a walking disaster,” said Chris Rupkey, chief economist at MUFG in New York. “Payroll employment is likely to dive in January with perhaps 300 or 400 thousand jobs lost.”

Private contractors working for many government agencies are also without pay. But Trump has signed legislation for all employees to be paid their salaries retroactively when the shutdown ends. Some economists say that could result in the shutdown having a small impact on January payrolls.

MODEST-MODERATE GROWTH

The Trump administration has been recalling some employees to work without pay in an effort to minimize the fallout from the shutdown. Publication of economic data compiled by the Commerce Department’s Bureau of Economic Analysis and Census Bureau has been suspended during the shutdown.

That includes December’s housing starts and building permits report, which was scheduled for release on Thursday. November’s construction, factory orders and trade figures have also been delayed, as well as December retail sales and November business inventories data.

The incomplete data is making it hard to get a clear read on the economy, which could complicate policy decisions.

The Federal Reserve said on Wednesday in its Beige Book report, which offers a snapshot of the economy, that eight of the U.S. central bank’s 12 districts reported “modest to moderate growth” in late December and early January.

The Fed noted that while outlooks generally remained positive, “many districts reported that contacts had become less optimistic.”

That was corroborated by a separate report on Thursday from the Philadelphia Fed showing its business conditions index increased to a reading of 17.0 in January from 9.1 in December, which was its lowest level since August 2016.

The survey’s six-month business conditions index increased to a reading of 31.2 this month from 29.9 in December. But its six-month capital expenditures index slipped to a reading of 31.6 in January from 34.5 in the prior month.

Despite the modest rebound in manufacturing in the region that covers eastern Pennsylvania, southern New Jersey and Delaware, the level of activity is lower than it was for most of 2017 and 2018.

This fits in with other signs that national factory activity is slowing, having hit a two-year low in December. A report from the New York Fed earlier this week showed a second straight monthly drop in its Empire State manufacturing index in,上海夜生活去哪玩Nadia, January.

“Conditions have certainly downshifted from earlier in 2018 and compared with 2017,” said Adam Ozimek, a senior economist at Moody’s Analytics in West Chester, Pennsylvania. “This reflects simmering risks that threaten to derail the otherwise strong economy.”

China’s industrial profits shrink again in Dec. on weak prices, demand

BEIJING ( ) – Earnings at China’s industrial firms shrank for a second straight month in December, putting pressure on policymakers to support industries hurt by slowing prices and weak factory activity amid a protracted U.S.-Sino trade war.

The downbeat data points to more troubles ahead for the country’s vast manufacturing sector already struggling with a decline in orders, job layoffs and factory closures as China’s economic growth slows to its weakest in nearly three decades.

China’s economy expanded 6.6 percent in 2018 and growth is set to slow further this year as Beijing’s efforts to reduce debt risks depress the property market and curb credit flows to the private sector, while a crackdown on pollution dents industrial activity.

Industrial profits in December fell 1.9 percent from a year earlier to 680.8 billion yuan ($100.9 billion), weighed down by weak factory-gate prices and soft demand, the National Bureau of Statistics (NBS) said on Monday. This is on top of a decline of 1.8 percent,上海夜网后花园Sabina, in November – the first contraction in profits in nearly three years.

“As far as the future trend is concerned, it is quite obvious that it will continue to decline because the (producer price index) has apparently turned negative last month, and when PPI has turned negative, the profits of industrial enterprises will go down,” said Tang Jianwei, senior economist at Bank of Communications in Shanghai, adding that the structure of corporate profitability will also start to change.

“Profits at mid- and downstream sectors may stabilize while the upstream sector will face immense pressure.”

Profits at chemical, coal mining and non-ferrous metal sectors all slowed significantly in December, the data showed.

For the full year, profits rose 10.3 percent to 6.64 trillion yuan in 2018, easing from 2017’s robust pace of 21 percent.

Upstream sectors such as oil extraction, coal and metal mining still commanded the lion’s share of profit gains last year, but analysts say that as industrial prices slow further or even shrink, profitability will come under pressure.

Tang said that if large-scale tax cuts promised by the government could be rolled out in time, however, it would help put a floor on declining industrial profits in the second half.

A survey from the state planner this month showed activity at 2,500 Chinese small- and mid-sized enterprises continued to contract in the fourth quarter last year despite a flurry of supportive government policies.

The Small and Medium Enterprises Development Index stood at 93 last quarter, below the 100-mark that separates growth from contraction, according to the National Development and Reform Commission.

Moody’s said in a recent report the Chinese government’s latest measures to support funding for private firms would be limited in effect, as credit would mostly flow to the fewer stronger privately-owned enterprises.

,上海夜生活网交流Fabiana,

Monday’s data showed industrial firms’ liabilities rose 5.2 percent from a year earlier to 64.1 trillion yuan by end-2018, compared with a 5.8 percent rise as of end-November.

DEMAND REMAINS SOFT

Though traders are replenishing inventory ahead of the Lunar New Year holiday in early February, demand remains weak.

Aggravating the slowdown, the government has also vowed it will not relent on enforcing anti-pollution controls, refusing to accept mounting economic pressure as excuses.

That raises uncertainty on the overall boost to the indu,上海夜生活去哪玩Octavia,strial sector from support measures policymakers have pledged so far.

Beijing has promised to increase spending on infrastructure projects this year and boost consumption in areas such as automobile and home appliances.

The state-run enterprise China Railway is planning a record-high rail investment worth about 850 billion yuan in 上海夜生活2019, according to a Nikkei report.

China’s producer prices rose at their slowest pace in more than two years in December. New orders – an indicator of future activity – contracted for the first time in at least a year in December.

Profits at China’s state-owned industrial firms rose 12.6 percent in 2018 from a year earlier, slowing from a 16.1 percent increase in the January-November period.

Factbox: Tesla executive departures since 2016

( ) – Tesla I,上海会所夜网Oakley,nc on Wedn,上海夜生活服务Tabitha,esday announced the departure of Chief Financial Officer Deepak Ahuja, the latest senior executive to leave the company as it strives to ramp up electric car production and reach long-term profitability.

Here is a list of executive departures from Tesla since 2016:

2019

Jan. 30 – Outgoing Chief Financial Officer Deepak Ahuja may continue to serve as a senior adviser to Tesla, Chief Executive Officer Elon Musk said in a post earnings call.

2018

Nov. 27 – Jeff Jones, head of global security, is no longer workin,上海夜网推油Queena,g with Tesla Inc after just 11 months on the job, CNBC reported, citing one current and one former employee. cnb.cx/2KGT2Ny

Oct. 17 – Gilbert Passin, vice president of manufacturing, has left, according to a Business Insider report. reut.rs/2ymyLHM

Sept. 20 – Liam O’Connor, vice president of global supply management resigned from the company, Bloomberg reported, citing sources familiar with the matter. reut.rs/2CmylUSSept. 12- Justin McAnear, vice president of worldwide finance and operation, said he would be leaving Tesla to take a CFO role at another company.

Sept. 7 – Gabrielle Toledano, chief people officer at Tesla, leaves the company. reut.rs/2NrTnXS

Sept. 4 – Dave Morton, chief accounting officer at Tesla, resigns just a month after starting work, according to a company filing. reut.rs/2NrTnXS

July – Ganesh Srivats, vice president at Tesla leaves company to become chief executive officer at Moda Operandi Inc bit.ly/2NvCJac

July – Doug Field, senior vice president of engineering, stepped down after five years with the electric carmaker. bit.ly/2P4nVjf

June- Karim Bousta, vice-president of worldwide service and customer experience, left the company, automotive news website Electrek reported. bit.ly/2N9pLj1

May- Cal Lankton stepped down as senior vice president of energy operations and will be replaced by Sanjay Shah from Amazon.com Inc, according to a Bloomberg report. bloom.bg/2x89XC6

May – Matthew Schwall, director of field performance engineering, exits to join Alphabet Inc’s self-driving unit, Waymo. reut.rs/2rIFnxb

April – Georg Ell, director of Tesla’s Western Europe operations, leaves to head UK-based Smoothwall. bit.ly/2rJEKCt

March – Chief Accounting Officer Eric Branderiz exits after joining in October 2016. reut.rs/2rI6OXD

March – Susan Repo, corporate treasurer and vice president of finance, exits to become chief financial officer at another company. bloom.bg/2FFA4HB

February – Jon McNeill, president of global sales and services, leaves to join ride-hailing company Lyft as chief operating officer. reut.rs/2GgaLr6

January – Jason Mendez, director of manufacturing engineering, leaves after more than 12 years. bit.ly/2InKIQO

January – Will McColl, manager of equipment engineering, leaves after seven years. bit.ly/2InKIQO

2017

December – Erik Fogelberg, vice president of commercial sales, America, Tesla Energy left the company after 11 months. He joined as vice president of global sales for NEC Energy Solutions last month. bit.ly/2QdgnZh

November – Jon Wagner, director of battery engineering, who joined in 2013 exits to launch a battery and powertrain startup in California. reut.rs/2L3CFu4

September – Diarmuid O’Connell, vice president of business development, departs. reut.rs/2KpjeuJ

August – Marco Krapels, vice president of international expansion, solar & battery storage, left the company after six months and currently serves as the founder and chief executive officer of Micropower-Comerc, according to his LinkedIn profile. bit.ly/2NZ3FMx

August – Kurt Kelty, director of battery technology and then one of the longest serving company executives, exits. He led negotiations with Panasonic on the company’s gigafactory in Nevada. bloom.bg/2vhrcSD

July – SolarCity co-founder Peter Rive leaves the company, eight months after Tesla bought the biggest U.S. residential solar panel maker. reut.rs/2Krcnkh

June – Chris Lattner, vice president of autopilot leaves within six months of joining. reut.rs/2rL6l6e

June – SolarCity founder Lyndon Rive leaves the electric vehicle maker. reut.rs/2rJnY6u

May – Arnnon Geshuri, who led HR at Tesla for more than eight years, departs. bit.ly/2IGwKg8

April – Chief Financial Officer Jason Wheeler leaves to pursue public policy projects; replaced by Deepak Ahuja, who served as CFO before Wheeler. read.bi/2wI4Zir

March – Mark Lipscomb, vice president of human resources, departs to join streaming service provider Netflix. bit.ly/2rF3zzw

March – Satish Jeyachandran, director of hardware engineering, leaves after seven years with the company; later joins Waymo. bit.ly/2IloGSs

March – David Nister, vice president of autopilot vision, departs to join chipmaker Nvidia. read.bi/2jWtteA

March – Klaus Grohmann ousted after a clash with CEO Elon Musk over the strategy at Grohmann’s firm, which Tesla had acquired in November. Grohmann Engineering helped companies design highly automated factories. reut.rs/2wJjbYF

January – JLM Energy says Ardes Johnson, who worked as director o上海夜生活网f sales at Tesla Energy, joins as a vice president. bit.ly/2rJUqWh

January – Sterling Anderson, head of Tesla’s autopilot system, leaves company. Tesla sued him for trying to recruit company engineers for his new venture while still with Tesla, and in April withdrew the lawsuit after a settlement. reut.rs/2IjRLK9

2016

December – Mateo Jaramillo, vice president of Tesla Energy, leaves after seven years. bit.ly/2wHbGBs

July – Rich Heley, vice president of product technology, departs to join Facebook. bit.ly/2rJnXjb

May – Josh Ensign, vice president of manufacturing, leaves; joins startup Proterra as chief operating officer. read.bi/2IHq4hS

May – Greg Reichow, vice president of production, leaves as the company prepares to launch Model 3, and sharply ramp up production. reut.rs/2InGIQi

April – James Chen, vice president of regulatory affairs and deputy general counsel, leaves to join rival Faraday Future. read.bi/2rI1P8P

March – Ricardo Reyes, vice president of global communications, leaves. bloom.bg/2ImDzUY

March – Michael Zanoni, vice president of finance and worldwide controller, departs to join Amazon. bit.ly/2rHW9eU

January – Chief Information Officer Jay Vijayan leaves Tesla to create his own startup. on.wsj.com/2wG39P7