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Exclusive: ConocoPhillips prepares to sell stake in Canada’s…

( ) – ConocoPhillips (COP.N) is preparing to offload its stake in Cenovus Energy Inc (CVE.TO), which it acquired as part of an asset sale to the Canadian oil and gas producer last year, people familiar with the matter told .

The U.S. energy company has held discussions with investment banks about appointing advisers to the sale and could offer the shares to institutional investors as early as this month, said the people. They cautioned that the precise timing would depend on market conditions and could change.

If ConocoPhillips does not complete the sale in June or early July, it would then likely wait until September when institutional investors will have returned from their summer vacations, they added.

The ConocoPhil,夜上海论坛Fabiana,lips stake in Cenovus is worth C$2.6 billion ($2 billion) based on its current share price but it would likely be sold at a small discount, the sources said. It would still be one of the biggest Canadian equity share sales this year.

ConocoPhillips has been actively selling assets and cutting costs in the past two years in order to cull debt and boost its dividend. It sold $17 billion in assets in 2017.

When Cenovus acquired oil sands and natural gas assets from ConocoPhillips for C$17 billion last year, it took 208 million shares of Cenovus, as well as C$14.1 billion of cash.

The deal made ConocoPhillips the biggest investor in the Calgary, Alberta-based company, although the U.S. oil giant has said it would not be a long-term holder of Cenovus equity.

ConocoPhillips and Cenovus declined to comment. The sources declined to be identified as the information is not public.

Shares of Cenovus extended their losses, to fall as much as 8.8 percent after the report. They closed down 5.7 percent at C$12.67 on Monday. The broader Canadian energy index was down 2.1 percent.

Cenovus shares have had a wild ride since the acquisition, declining as investors punished the stock over the deal, which was regarded as significantly stretching the Canadian company’s finances.

While still down 27 percent since the deal was announced, they have been bouncing back of late on the back of an oil price CLc1 rebound. The stock is up 24 percent in the last three months.

The move follows a similar overnight stock sale by Royal Dutch Shell Plc (RDSa.L), which last month sold its entire stake in Canadian Natural Resources Ltd (CNQ.TO) for $3.3 billion.

At the time of the 2017 deal, ConocoPhillips valued 上海夜网its Cenovus stake at $9.41 per share based on Cenovus’ New York-listed stock. Since the May 17, 2017, transaction close, the share price has see-sawed above and below that value, although it has consistently traded higher since April 25.

While overnight trades tend to be discounted from current share price levels, in order to incentivize investors, Conoco would need Cenovus’ value to be at a point where it is making money even after the discount to make the sale worthwhile. If the same 2.9 percent reduction was applied from Shell’s overnight sale of Canad,上海夜生活网419Naia,ian Natural Resources shares, the Cenovus stock would need to be above $9.68 to generate a profit.

Conoco has also moved aggressively to get cash in other areas, including by seizing international assets controlled by Venezuelan state-controlled oil producer PDVSA.

Much of the fresh cash the company has raked in has gone back to ,夜上海419龙凤论坛Octava,shareholders, with the company’s dividend up about 8 percent in the first quarter to 28 cents and a plan to buy back $2 billion in shares this year.

Dependent on migrant dollars, rural Mexico prays for Trump defeat

MOLCAXAC, Mexico ( ) – In the small southern market town of Molcaxac, 650 miles (1050 km) from the U.S. border, Alicia Villa is praying to God that Republican candidate Donald Trump does not become the next president of the United States.

Over the past two decades, as Mexico’s rural e,上海足浴夜网联系方式Quaid,conomy stalled, Molcaxac and hundreds of towns like it became dependent on dollars sent by relatives who made the perilous journey north, a lifeline she fears will be cut by a Trump White House.

Villa, 65, said funds sent by a daughter working illegally as a house cleaner in Sacramento, California have supported her family for 12 years because the work she does as receptionist in Molcaxac does not pay enough to make ends meet.

“I am Catholic and I have asked God and the Virgin of Asuncion that he lose,” Villa said of Trump, placing her head in her hands and intoning a prayer in the square of the deeply religious hill town dominated by a striking blue church.

Inside, the church was adorned with notes thanking migrant relatives for money sent to help build homes, start businesses and pay for marriages in the town surrounded by rivers, mountains and meadows in the state of Puebla.

“Trump says he will kick out everyone who doesn’t have papers and we really need them to be there,” said Villa, adding that she had not seen some family members living in the United States in 20 years.

Trump, a real-estate tycoon who,上海夜网官方网站Hadley, has narrowed the gap with Democratic rival Hillary Clinton ahead of next Tuesday’s vote, has vowed to make it harder for illegal immigrants to live and work in the United States, to increase deportations and to limit remittances unless Mexico pays billions for a wall along the nearly 2,000-mile (3,200-km) U.S.-Mexico border.

Such policies would take a heavy toll in Molcaxac, where local authorities say more than 70 percent of the population lives on remittances sent home by immigrants to the United States, many of them undocumented.

“Our town has improved a lot since our people started to leave for the United States,” said stonemason Esteban Marquez, whose workshop was partly funded by remittances from one of his children.

‘NOTHING FOR THEM’ HERE

Mexico has more than 5 million citizens living without regular papers in the United States, or about half of the entire undocumented popu,上海夜生活怎么玩Pamela,lation.

Those men and women send back a large chunk of Mexico’s foreign exchange earnings, contributing more than $20 billion in remittances wired this year through September.

According to Mexico’s Central Bank, Puebla received $1 billion in remittances in the same period, making it the fifth biggest recipient among Mexican states.

So many people from Puebla live in the New York area that New Jersey Governor Chris Christie, a Trump supporter,上海夜生活论坛 visited the state in 2014. Couriers have grown rich transporting salsas and fresh cheese to homesick natives up north.

The money has transformed places like Molcaxac, a picturesque town dotted with well-built homes attesting to the flow of dollars.

It is not just the potential loss of income Trump could spark that worries Molcaxac locals.

The lack of employment in rural Mexico is one of the main reasons drug gangs find it easy to recruit among young people and those deported from the United States, they say.

“Here in Mexico, the truth is there is nothing for them,” said stonemason Marquez. “The people who stay need to survive, and since there is no work, they get pulled into crime.”

‘VOTE FOR THE LADY’

Opinion polls in the run-up to the election suggest that Villa’s prayers stand a good chance of being answered, with most putting Clinton consistently ahead of her Republican rival.

But the polls also show her losing ground in the final stretch. Real Clear Politics, which averages the results of most major polls, shows Clinton’s advantage had declined from 4.6 percentage points to 1.7 points over the past week.

Even those of more modest means in Molcaxac are on edge with America’s election.

“Only God knows if they are going to be able to stay there,” said Serafina Martinez, who at 70 still works in the fields.

She worries it would be hard to survive without the little her son in California sends when he can.

“I would like him to keep helping us with pennies,” said Martinez, her curved back laden with firewood and groceries.

Still, the uncertainty has also helped locals in an unexpected way: the Mexican peso’s value plunges every time Trump advances, making the dollar remittances stretch further.

But there is no doubt in the minds of Molcaxac’s townspeople that they would rather see Clinton in the White House.

Clinton has proposed comprehensive immigration reform with a path to citizenship, and says she will end detention of immigrant families.

“I think she will win, and that gives us hope that our relatives will be able to regularize (their papers),” said Teresa Amador, selling flowers in the main market. “I have a son who was born there, and he is going to vote for the lady.”

Clinton server tech told FBI of colleagues’ worries about system

NEW YORK ( ) – A technician hired by Hillary Clinton to run the private email system she used while U.S. secretary of state told investigators he tried to pass on colleagues’ concerns that the system might not comply with records laws, FBI interview summaries show.

Bryan Pagliano, the technician Clinton hired when she joined the State Department in 2009, told federal investigators he relayed the concerns to Cheryl Mills, then Clinton’s chief of staff.

Mills, whose lawyer did not respond to requests for comment, has previously testified under oath she could not recall anyone alerting her to potential problems with Clinton’s email arrangement.

The episode had not been disclosed until the Federal Bureau of Inv,上海夜网Gabrielle,estigation released on Friday night nearly 200 pages of additional records from its year-long investigation into the handling of classified government documents by Clinton and her staff via an unauthorized email server in the basement of her New York home.

Clinton has said the decision to use a private email system was a mistake, but the controversy has dogged her campaign as the Democratic candidate for the presidency and raised public doubts about her trustworthiness, public opinion polls show. Republicans have criticized her,夜上海419龙凤论坛Quaid, for putting national security at risk.

The FBI closed the year-long investigation in July, recommending no charges, although FBI Director James Comey said Clinton and her staff had been “extremely careless” in handling classified government secrets.

Pagliano has declined to answer questions by Republican lawmakers about his work on Clinton’s server, but spoke to federal investigators after securing a form of immunity from prosecution.

He told investigators two colleagues from the technology office approached him with concerns during Clinton’s first year after learning about the email system. One said it could lead to a “federal records retention issue,” Pagliano told investigators, and urged him to raise the concern with Clinton’s “inner circle.”

A colleague also warned Pagliano “he wouldn’t be surprised” if classified information was being sent through Clinton’s unsecure system, Pagliano told the FBI.

The newly released interview summ,上海夜网千花Dalton,aries from the FBI investigation show government employees undercutting other aspects of the public accounts given by Clinton and senior State officials.

A State Department employee, whose name was redacted, told investigators they believed senior department officials interfered with the screening of Clinton’s emails for public release last year in a way that helped Clinton.

The employee, who worked on the screening process, said there was pressure to obscure the fact they were finding classified information in the messages. John Kirby, a State Department spokesman, said in a statement the department “strongly disputes” the claim of interference. Clinton repeatedly said last year she never sent or received classified information, but now says she did not do so knowingly since 上海夜生活论坛the release of the FBI findings.

The employee also said the Defense Department told the State Department last year it had found about 1,000 emails between Clinton and David Petraeus in its records from his time as the director of the United States Central Command.

The State Department has said that Clinton did not include any of her emails with Petraeus when her lawyers screened and returned what they said were all her work emails in 2014. A single conversation of about 10 emails later emerged last year after the Defense Department provided it.

Spokesmen for Clinton have declined to discuss the omission, and did not respond to questions about the new interview summaries.

Kirby, the department spokesman, said he could not “speculate” whether the Defense Department had found more than just a single conversation between Clinton and Petraeus. “We can only speak to the records in our possession,” he said.

Northrop Grumman wins U.S. antitrust approval to buy Orbital ATK

WASHINGTON ( ) – U.S. defense contractor Northrop Grumman (NOC.N) won U.S. antitrust approval to buy solid rocket motor supplier Orbital ATK Inc OA.N with conditions, the Federal Trade Commission said on Tuesday.

The $7.8 billion deal was approved on conditi上海夜生活网on that Northrop supply the solid rocket motors to competitors for missile contracts and to separate the two companies’ operations with a firewall, the FTC said in a statement.

Northrop said in a statement it expects the transaction will be completed after market close on Wednesday.

The European Commission approved the deal in February.

Northrop announced the all-cash deal in September, saying it would give the company greater access to lucrative gover,上海夜网官方网站Larissa,nment contracts and expand its arsenal of miss,上海夜网千花Gabe,ile defense systems and space rockets.

Orbital has contracts with NASA and the U.S. Army. The Dulles, Virginia-based company is one of the two firms hired by NASA to fly cargo to the International Space Station under an initial contract worth up to $3.1 billion.

The FTC said in a statement that i,上海夜生活怎么玩Paige,t typically prefers to have companies sell assets rather than require a “behavioral” remedy, such as this one, but accepted it in this case because the defense industry sells solely to the Defense Department, which will ensure compliance with the condition.

HP Inc tops revenue estimates, raises forecast on PC demand

( ) – HP Inc (HPQ.N) reported better-than-expected quarterly revenue and raised its full-year profit forecast on Tuesday, helped by strong demand for its notebooks and desktops.

The company also named Steve Fieler as its chief financial officer, succeeding 32-year HP veteran Cathie Lesjak.

Fieler, whose appointment is effective July 1, currently leads HP Inc’s treasury and corporate finance functions. Lesjak will step into the role of interim chief operating officer.

Shares of HP Inc, formed out of the 2015 split of Hewlett-Packard Co, were marginally up in extended trading.

The company raised its forecast for full-year adjusted profit to between $1.97 and $2.02 per share, from $1.90 to $2.00. Analysts on average were expecting $1.97, according to Thomson I/B/E/S.

HP Inc’s personal systems business, which includes notebooks and desktops and accounts for more than 60 percent of total revenue, rose 14.5 percent to $8.,上海高端夜生活在那里Queena,76 billion in the second quarter. Analysts on average had expected $8.28 billion.

The Palo Alto, California-based company had the top position in worldwide PC shipments in the first calendar quarter of 2018 with a 22.6 percent market share, according to research firm International Data Corp’s (IDC) data.

IDC analysts have said demand for premium notebooks in both the consumer and commercial segments have helped major PC vendors to retain better margins and garner buyer interest.

,上海凤楼夜网Octava,

HP Inc, which completed the acquisition of Samsung Electr,上海夜生活Sabia,onics Co’s (005930.KS) printer business last year, said revenue from its printin上海夜生活g business rose 10.9 percent to $5.24 billion, above analysts’ estimate of $5.13 billion.

Net earnings jumped 89.3 percent to $1.06 billion, or 64 cents per share, in the quarter ended April 30, mostly helped by a one-time tax benefit of $975 million.

Excluding items, the company earned 48 cents per share, in line with Wall Street estimates.

Revenue rose 13.1 percent to $14 billion, above analysts’ average estimate of $13.57 billion.

Written by shyw on May 22, 2019 Categories: fvwemxpv Tags: , ,

With Trump win, Republican chairman Priebus emerges as key adviser

NEW YORK ( ) – Donald Trump’s White House victory puts a spotlight on Reince Priebus, an establishment Republican figure who emerged as a trusted adviser to the New York businessman and helped encourage discipline in the campaign’s final weeks.

Priebus, chairman of the Republican National Committee, has been mentioned as a contender for chief of staff.

In a pre-election interview, Priebus told that Trump won over voters who were frustrated with Washington and its politicians.

“They viewed Donald Trump as the antidote to so many things that they’re frustrated with, whether it be Washington, whether it be their job, whether it be what they were promised, and all sorts of things in life, and how it w,上海高端夜生活在那里Jack,asn’t delivered,” he said. “And Trump was the antidote to all of those feelings.”

Trump’s victory was a vindication for Priebus, who refused to bow to pressure to distance the party apparatus from him. He talked to Trump almost every day, sometimes more than once a day, and frequently traveled with the candidate. He helped prepare him for Trump’s debates against Democrat Hillary Clinton.

Trump made clear his high regard for Priebus when he invited him on stage during his victory speech early Wednesday morning and asked him to say a few words.

Comparing Priebus to the race horse Secretariat, Trump said, “I tell you Reince is really a star and he is the hardest-working guy.”

Henry Barbour, an RNC member from Mississippi, said Priebus had “developed a position of trust” with Trump.

“He had regular conversations with Trump about different ideas and not surprisingly some ideas Trump had were probably not the greatest and Reince kind of talked him off some of those cliffs,” he said.

Once Trump vanquished 16 seasoned politicians to win the Republican presidential nomination, Priebus threw the weight of the RNC behind Trump and built a voter turnout effort that paid off despite Trump’s refusal to invest more money in it.

“He has been a prodigious fundraiser. He invested heavily in bringing our data and analytics up to speed, and he put the full resources of the RNC to help build out the Trump campaign,” said Steve Duprey, a prominent Republican from New Hampshire.

“And he helped coach Donald Trump in how to be a presidential candidate.”

Trump’s unpre上海夜生活dictable nature and views on issues such as trade that break with Republican party orthodoxy have led to rifts with many establishment figures in the party.

But Priebus told that his staunch support for Trump was based on the fact that Trump won more Republican votes than any previous nominee, 14.5 million.

“These are the same people who say the party is irrelevant and in the next breath they say that the party ought to singlehandedly nullify the wishes of 14.5 million people,” h,上海夜生活男人好去处Nadine,e said.

If Trump had lost, Priebus would have faced pressure to step down as party chairman, since he also presided over the loss of Mitt Romney in 2012. He r,上海夜网官方网站Gabriel,emains extremely popular among the 168 elected members of the RNC who would most likely re-elect him.

Priebus is being talked about for re-election at the RNC or possibly being appointed by Trump to serve as his White House chief of staff, where he may be a potential conduit between Trump and Paul Ryan, the speaker of the U.S. House of Representatives.

Both Priebus and Ryan hail from Wisconsin and are friends.

“We hope Priebus goes into the Trump White House in a senior position,” said Scott Reed, a prominent Republican strategist in Washington.

Asked whether he would seek re-election as RNC chairman, Priebus said he did not yet know.

“I’ve honestly put that in a box and decided that I would deal with it Wednesday or Thursday, kind of think about it a little bit, kind of see where things are at,” he said.

Air traffic strikes bigger threat than fuel prices in 2018, IAG says

SYDNEY ( ) – Air traffic control strikes are more of a threat to Europ,上海夜生活网交流Pablo,ean airlines this year than a rise in fuel prices, the chief executive of British Airways-owner IAG (ICAG.L) said on Tuesday.

Global airlines have slashed their forecast for industry profits in 2018 due to a spike in fuel costs, but in Europe, there is an additional threat to profits from the cost of flight cancellations associated with air traffic control (ATC) 上海夜生活论坛strikes.

“From a European context, the thing most impacting is ATC strikes and the ongoing ATC environment which is a mess,” IAG CEO Wi,上海夜网官方网站Tallulah,llie Walsh told the CAPA-Centre for aviation summit in Sydney.

“It’s destroying traffic through Europe.”

European airline industry body A4E has estimated the economic cost of ATC strikes in the Euro,上海高端夜生活在那里Lark,pean Union was 13.4 billion euros ($15.7 billion) between 2010 and 2017.

Ryanair (RYA.I), a rival European airline, said earlier on Tuesday that ATC strikes and shortages caused it to cancel 1,100 flights in May compared with 43 in the same month last year.

“It’s really a significant issue. We thought it would get better in 2018 but it’s getting worse,” Walsh said.

France has been a particular problem area for airlines, where public sector workers have staged a series of protests over the government’s economic reforms.

IAG’S airlines, which also include Iberia, Aer Lingus and Vueling, are having to spend more on fuel to travel via alternative routes to bypass French airspace, Walsh said.

“We end up paying compensation to customers. It’s completely outside our control,” he added, saying millions of passengers were affected and it cost airlines tens of millions of pounds.

Walsh said that because IAG was hedged for this year, he wasn’t as concerned about fuel prices for 2018, but the higher prices would be a challenge for 2019.

“It’s much higher than we expected it to be,” he said.

The International Air Transport Association (IATA) has said rising fuel costs will hurt industry profits, cutting forecasts by 12 percent. IATA expects an average oil price of $70 a barrel this year, up from $54.90 last year and its previous prediction of $60.

EU trade chief to meet U.S. peers Ross, Lighthizer in Paris on…

BRUSSELS ( ) – E,上海夜生活群Ida,urope’s top trade official Cecilia Malmstrom will meet U.S. counterparts Wilbur Ross and Robert Lighthizer in Paris on Wednesday, two days before a temporary reprieve from U.S. steel and aluminum tariffs is due to expire.

“A bilateral meeting with (U.S. Commerce) Secretary Ross is scheduled to take place on the margins of the OECD meeting on Wednesday,” European Commission spokesman Daniel Rosario said in an email.

Malmstrom will also meet Lighthizer, the U.S. Trade Representative, separately during the same event.

She will also take part in a meeting with U.S. and Japanese counterparts on Thursday to continue trilateral discussions on steel overcapacity, the spokesman said.

The Commissi,上海021夜网Fabiana,on, which oversee,上海夜玩网论坛Hadrian,s trade policy for the 28-country European Union, is 上海夜生活论坛seeking a permanent exemption from the tariffs, saying the EU is a U.S. ally and not responsible for global overcapacity of either steel and aluminum.

Malmstrom herself said last week she did not think an EU proposal to discuss opening its markets wider to U.S. imports had convinced Washington to lift the threat of measures to curb EU steel imports.

Canada and Mexico were also given temporary reprieves until June 1, while Argentina, Australia and Brazil have secured permanent exemptions, albeit in exchange for quotas.

Fed clambers back to positive real rates, now debate is when to stop

WASHINGTON ( ) – The Federal Reserve will likely raise its target interest rate to above the rate of inflation for the first time in a decade next week, igniting a new debate: when to stop.

The Fed has been gradually hiking rates since late 2015 with little sign of tighter conditions hampering economic recovery. The expected June increase will raise the stakes as the Fed seeks to sustain the second-longest U.S. expansion on record while continuing to edge rates higher.

With inflation still tame, policymakers are aiming for a “neutral” rate that neither slows nor speeds economic growth. But estimates of neutral are imprecise, and as interest rates top inflation and enter positive “real” territory, analysts feel the Fed is at higher risk of going too far and actually crimping the recovery.

The Fed is “gradually entering a new world when rates are at 2 percent,” nearing zero on a real basis and approaching where they are no longer felt to be stimulating economic activity, said Thomas Costerg, senior U.S. economist at Pictet Wealth Management.

The last time rates moved into positive real territory on a sustained basis was the spring of 2005 when the Fed began tightening rapidly after a period of arguably too-lax monetary policy, ending just months before the start of the 2007-2009 financial crisis.

The debate over the current cycle’s end point “came earlier than I expected,” Costerg said, with the Fed facing imminent calls on where the neutral rate of interest lies.

After the expected June increase the Fed’s target interest rate will be set at a range of between 1.75 percent and 2 percent, matching the Fed’s inflation target and roughly in-line with the latest inflation data. That translates to a real rate of roughly zero and is already at neutral, according to some policymake,夜上海论坛Hadleigh,rs who feel the Fed should stop hiking now.

To view a graphic on U.S. interest rates and inflation, click tmsnrt.rs/2Jd4G4U

PLOTTING A NEW PATH

Along with a policy statement the June 12-13 Federal Open Market Committee meeting is due to be followed by a news conference by Fed Chair Jerome Powell.

Updated economic projections will show whether policymakers still anticipate one additional rate hike in 2018, following June’s, or if they now envision two increases.

Longer-run forecasts and possible changes to the language of the FOMC statement will shed light on the Fed’s new phase.

For much of the recovery from the financial crisis and recession, the statement has been used to reassure the public and investors that rates would remain “accommodative” and bolster chances of encouraging above-trend growth.

With rates closer to a neutral, non-accommodative level, the communication challenge for the Fed is to flag the approach of a neutral rate of interest without signaling plans to make policy restrictive.

“This part of an evolution, of both our policy, given how well the economy is doing … but also just an evolution of communicating as our economy progresses … How we talk about it will naturally just evolve,” San Francisco Federal Reserve bank p,上海夜生活服务Sabrina,resident John Williams said in an interview with on Friday.

“When exactly that happens and how that happens, that’s a decision for the comm上海夜生活论坛ittee.”

Williams will take over soon as head of the Federal Reserve Bank of New York, effectively the Fed’s second-most powerful post and key to communicating monetary policy to Wall Street.

Policymakers’ long-run estimates of the real neutral rate of interest vary from 0 percent to 1.5 percent.

The median estimate of the long-run neutral rate is 0.9 percent, basically room for four more rate increases after June before policy risks becoming restrictive.

Though a core of Fed officials feel rates on a shorter-term basis may have to move slightly higher than that sometime in 2020 to keep inflation in check, only two see real rates above 2 percent in the foreseeable future.

Some analysts argue the Fed need not worry about rates nearing neutral as long as jobs numbers stay strong and inflation remains near target.

While Fed econometric models may point to a low neutral rate of interest, “in the world of actual rate decisions, the key issue is the observable behavior of the economy and financial conditions,” Goldman Sachs economist Jan Hatzius wrote recently.

“We expec,上海夜玩网论坛Daisy,t that behavior to support rate hikes for longer than many FOMC participants now believe.”

Singapore Exchange postpones launch of Indian derivatives products

MUMBAI ( ) – The Singapore Exchange (SGX) (SGXL.SI) has postponed the launch of a set of India derivatives products after an Indian court on Tuesday referred a dispute around the proposed offerings to an arbitrator.

“We will reschedule the launch of our,上海夜网邀请码Sabia, new India derivatives products, pending the outcome of the arbitration,” SGX said in a statement.

SGX has been locked in a dispute with India’s National Stock Exchange (NSE) after the country’s three main bourses unexpectedly announced in February they would stop licensing their indexes to foreign bourses from August.

In response, SGX said it would launch successor products to its flagship Indian equity derivative products on June 4.

The NSE, however, sought an interim injunction against the launch, saying the proposed products infringed the intellectual property rights of India Index Services and Products (IISL), its unit that runs the Nifty index.

The Bombay High Court on Tuesday referred the matter for arbitration to a senior retired judge, who it said would attempt to resolve the issue by June 16. Until then, the court barred SGX from launching the proposed products.

“SGX will contest the interim injunction and reserves all rights in respect of damages caused by IISL’s action,” the SGX said.

In the meanwhile, SGX said it will continue listing SGX Nifty contracts until August.

The NSE said in a statement late on Tuesday that it was committed to protecting and preserving its proprietary rights and that investors should use licensed and legally permissible products to access Indian markets.

Over the past two decades, SGX has become the most popular market for foreign investors to bet on Indian equi,上海夜生活论坛Talon,ty indexes, with Nifty 50 futures SINc1 tracking the NSE’s main index .NSEI.

But NSE, BSE Ltd (BSEL.NS) and Metropolitan Stock Exchange took steps to end licensing deals with for,夜上海论坛Daisy,eign bourses to prevent the loss of trades to overseas rivals, after SGX moved to introduce trading in single-stock futures contracts.

According to sources, the decision was end上海夜生活网orsed by the Indian government, which is keen to draw investor interest to an international financial center being developed in Prime Minister Narendra Modi’s home state of Gujarat.

Uber disabled emergency braking in self-driving car: U.S. agency

WASHINGTON ( ) – Uber had disabled an emergency braking system in a self-driving vehicle that struck and killed a woman in Arizona in March even though the car had identified the need to apply the brakes, the National Transportation Safety Board said in a preliminary report released on Thursday.

The report into the first fatal crash caused by a self-driving vehicl,上海夜生活去哪玩Mace,e also disclosed that the modified 2017 Volvo XC90’s radar systems observed the pedestrian,上海夜生活服务Octavien, six seconds before impact but “the self-driving system software classified the pedestrian as an unknown object, as a vehicle, and then as a bicycle with varying expectations of future travel path.”

At 1.3 seconds before impact, the self-driving system determined emergency braking was needed. But Uber said, according to the NTSB, that automatic emergency braking maneuvers in the Volvo XC90 were disabled while the car was under computer control in order to “reduce the potential for erratic vehicle behavior.”

The report gives new fuel to opponents in Congress who have stalled a bill designed to speed the deployment of self-driving cars on U.S. roads and puts a spotlight on the fact that the National Highway Traffic Safety Administration, which is also investigating, does not test self-driving vehicles or certify them before they are deployed on U.S. roads.

Uber Technologies Inc, which voluntarily suspended testing after the crash in the city of Tempe, said on Wednesday it planned to end testing in Arizona and focus on limited testing in Pittsburgh and two cities in California. Uber aims to resume its self-driving operations this summer, likely with smaller routes and fewer cars, the company said.

The company did not directly comment on the NTSB findings but noted it recently named a former NTSB chairman, Christopher Hart, to advise on Uber’s safety culture.

“As their investigation continues, we’ve initiated our own safety review of our self-driving vehicles program,” the company said on Thursday, adding it planned to announce changes in the coming weeks.

All aspects of the self-driving system were operating normally at the time of the crash, and there were no faults or diagnostic messages, the NTSB said.

Elaine Herzberg, 49, was walking her bicycle outside the crosswalk on a four-lane road when she was struck by the Uber vehicle traveling 39 miles per hour (63 kph).

A safety operator behind the wh上海夜网eel appeared to be looking down, and not at the road, moments before the crash, according to video from inside the car released by police. The operator told the NTSB she was not looking at a mobile phone but monitoring the vehicle’s self-driving systems.

Tempe police said on Wednesday it had completed its investigation and turned the findings over to prosecutors to review. Police did not release the results of the probe.

The NTSB said the Uber vehicle required the operator to intervene and take action, but the system was not designed to alert the operator. The report said the operator engaged the steering wheel less than a second before impact and began braking less than a second after impact.

The report noted that Herzberg tested positive for methamphetamine and marijuana, and that she did not look in the direction of the vehicle until just before impact.

‘RECKLESS’

William Wallace, senior policy analyst for Consumers Union, the advocacy division of Consumer Reports, called Uber “reckless” and said the NTSB report “makes it clear that a self-driving car was tested on public roads when it wasn’t safe enough to be there, and it killed a pedestrian.” He added that the system “was far too dangerous to be tested off a closed track.”

Some cities expressed hesitation about immediately allowing Uber to return to testing.

Pittsburgh mayoral spokesman Timothy McNulty said the mayor still “wants a full federal investigation of the accident and for Uber to agree to his demands specific to Pittsburgh testing before he would welcome them back to the city.”

Sacramento, California, is interested in having Uber and other developers test in the city but wants to ensure the companies follow all regulations.

“The NTSB report really shines a light on the importance of safety and security of vehicles, so I think it hardens our stance a little bit on safety and security,” said Louis Stewart, Sacramento chief innovation officer.

A spokesman for Ontario’s Ministry of Transportation said on Thursday it would ensure it was satisfied with the steps Uber has taken to ensure the safety of its automated vehicles, before resuming testing in Toronto.

Arizona’s governor in March suspended Uber’s permit for the testing, citing safety concerns.

Uber has said it considers self-driving technology important to the future of its ride services, alth,上海夜网官方网站Talon,ough it is not clear how it fits into the plans of new Chief Executive Dara Khosrowshahi. He has revamped the company structure and cut expenses as Uber prepares for an initial public offering next year.

The NTSB did not say when it would release its final report on the accident. The agency typically issues its final conclusions at least a year after an accident.

It is also investigating a series of crashes involving Tesla Inc’s semi-autonomous “Autopilot” system after faulting the system last year after a fatal crash in Florida.

Canada to impose tariffs on U.S., challenge at WTO

( ) – Canada will impose retaliatory tariffs on C$16.6 billion ($12.8 billion) worth of U.S. exports and challenge U.S. steel and aluminum tariffs under the North American Free Trade Agreement and the World Trade Organization (WTO), Canadian Foreign Minister Chrystia Freeland said on Thursday.

The Canadian上海夜生活 tariffs are set to,上海晚上耍女人的地方Ida, go into effect on July 1 and stay in place until the United States lifts its own measures, Freeland said, hours after the United ,上海夜生活乌托邦Idaleen,States said it would impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union.

“The American administration has made a decision today that we deplore, and obviously is going to lead to retaliatory measures, as it must,” Prime Minister Justin Trudeau said at a news conference in Ottawa with Freeland.

“We regret that. We would much rather move together in partnership,” he said.

The Canadian government released two lists of U.S. products, proposing a 25 percent tariff on the first list and 10 percent on the second. Freeland said a 15-day consultation period would give Canadians a chance to comment on the tariffs and the products covere,上海夜网推油Gabriel,d.

The list included steel and aluminum in various forms, but also orange juice, maple syrup, whiskey, toilet paper and a wide variety of other products. It largely spares U.S. farmers. Among the few proposed agricultural targets are farm chemicals and cucumbers. (For the lists of U.S. products, see: bit.ly/2xtZlkz)

Freeland said Canada would challenge the U.S. tariffs under both NAFTA’s Chapter 20 and the WTO’s dispute settlement process, and would work with other WTO members.

Canadian Steel Producers Association President Joseph Galimberti said his organization was consulting with members and studying the products covered.

“I think the key going forward is to take this time to make sure that it works for the parties most directly affected and to get those measures in place as soon as we can,” he said.

Shares in StelCo Holdings Inc fell 3.5 percent, while the broader Canadian stock index ended up 0.1 percent.

Trudeau also discussed NAFTA talks, saying Canada, the United States and Mexico had come so close to a deal that he had offered to meet personally with President Donald Trump in Washington.

Trudeau said Vice President Mike Pence told him on Tuesday that as a precondition for that meeting, Trudeau would have to agree to a five-year sunset clause. He refused.

A sunset clause would allow one of the three NAFTA members to quit the pact after five years.

“There was the broad lines of a decent win-win-win deal on the table,” said Trudeau.

Clinton heavily favored to win Electoral College: poll

NEW YORK ( ) – After a brutal week for Republican presidential nominee Donald Trump, Democrat Hillary Clinton maintained a substantial projected advantage in the race to win the Electoral College and claim the U.S. presidency, according to the latest results from the /Ipsos States of the Nation project released on Saturday.

If the election were held this week, the project estimates that Clinton’s odds of securing the 270 Electoral College votes needed to win the presidency at more than 95 percent, and by a margin of 118 Electoral College votes. It is the second week in a row that the project has estimated her odds so high.

__________________________

STATES OF THE NATION

Check out the state-by-state breakdown and run your own scenarios based on voter turnout

___________________________

The results mirror other Electoral College projections, some of which estimate Clinton’s chance of winning at around 90 percent.

For the Trump campaign there are a handful of states the Republican candidate must win if he上海夜生活网 is tocobble together enough states to win the White House.

Among them is Florida, but numerous recent visits to the Sunshine State by Trump and ,上海新夜网龙凤Dahlia,his vice-presidential running mate Mike Pence did little to dent Clinton’s advantage in the contest for the state’s 29 Electoral College votes. She leads by 6 percentage points, about the same lead she enjoyed last week.

Still, the race tightened in Ohio, another important state for Trump. Both Ohio and Nevada were leaning toward Clinton last week but are now toss-ups.

However, Clinton’s support grew in North Carolina and Colorado, both of which moved from toss-ups to leaning Clinton.

In the last week, the Trump campaign struggled to respond to allegations from several women that Trump had groped them or made unwanted sexual advances over several decades. Trump said the reports were lies and part of a media conspiracy to defeat him.

All of the allegations came after The Washington Post disclosed a video from 2005 of Trump describing how he tried to seduce a married wom,上海夜网邀请码Sabrina,an and bragged in vulgar terms how his celebrity allowed him to kiss and grope women without permission.

The accusations overshadowed what might otherwise have been a difficult week for Clinton. Her campaign manager’s email account was apparently hacked and thousands of his emails were released by Wikileaks. U.S. officials say the Russian government sanctioned the electronic break-in.

The emails have been trickling out for two weeks. Included in the hacked emails were undisputed comments that Clinton made to banks and big business in a 2014 speech. In those comments, Clinton said she supports open trade and open borders, and takes a conciliatory approach to Wall Street, both positions she later backed away from.

Since that release, waves of other emails have been released, among which were some that suggested Clinton had inappropriately received questions in advance of a debate with Bernie Sa,上海高端夜生活在那里Caden,nders during the Democratic primaries.

Without Trump’s own woes, the Clinton emails may well have become the central issue in the campaign. Yet with just over three weeks to go until the Nov. 8 election, Trump does not have much time to turn the race around.

According to the project, Trump trails by double-digits among women and all minority groups. Among black voters he trails by nearly 70 points. To a large extent his support is almost entirely dependent on white voters. And while Trump’s support among white men is strong, among white women his lead is negligible.

U.S. to open new vetting agency for ‘secret’ security clearances

WASHINGTON ( ) – The U.S. government will open the doors next week to a new agency, with stronger data protections, meant to shorten by many weeks the time it takes to vet government workers seeking “secret” and “top secret” security clearances.

The National Background Investigations Bureau will be headed by Charles Phalen, who has worked as a security executive at the CIA, the FBI and defense contractor Northrop Grumman, officials said on Thursday on a conference call with reporters.

The bureau will replace an Office of Personnel Management (OPM) clearance system that was hit by hackers who stole potentially sensitive personal data on as many as 22 million people, including government employees and job applicants.

Phalen and OPM Director Beth Cobert said a top priority for the bureau will be shortening delays in the clearance process, which can hold up the hiring of government employees for months.

Cobert said that OPM figures show on average the time required to complete an investigation for a “secret” level security clearance is now 120 days; for a “top secret clearance, it is 170 days on average.

“These timelines are well too long,” Phelan acknowledged.

Cobert said the new agency’s goal would be to reduce the time for completing a “secret” clearance to 40 days and to ,上海夜网推油Kaia,cut the time for a “top secret” investigation to 80 days.

Officials said that individual government agencies, ,上海晚上耍女人的地方Jack,rather than the new central investigations bureau, would be responsible for social media checks of security clearance applicants.

Officials said that the new bu,上海夜生活网419Barrett,reau would still depend on outside contractors, especially for 上海夜生活论坛hiring field investigators. The new agency will employ 2,500 government workers and 6,000 contract employees, officials said.

Uber seeks to cut pricing on $1.13 billion term loan

NEW YORK (LPC) – Ride-hailing service Uber Technologies Inc is asking lenders to lower pricing on its $1.13 billion term loan due in 2023, sources said.

Strong demand for the company’s debt has kept bids for the loan above 100 in the secondary market since September 2017, according to LPC data. The loan had an average bid of 100.7 at the start of the week, which typically allows issuers to lower pricing as investors are more eager to hold onto the paper at a lower interest rate than allow it to be refinanced and handed over,上海夜生活去哪玩Balthazar, to someone else.

Uber is tapping its original lenders to cut the interest rate on the loan after deciding to privately place a separate $1.5 billion term loan with investors in March – an unusual move in the leveraged loan market, which typically relies on investment banks to arrange syndicated deals.

The privately held company has generated huge interest among loan investors due to its massive valuation, which currently stands at US$62bn based on proposed terms from a secondary stock sale announced last week, as well as the fact that so many people use the service.

A lenders call is scheduled for May 31 at noon. Morgan Stanley is leading with Bank of America Merrill Lynch, Barclays, Citibank, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Royal Bank of Canada and SunTrust.

Uber made waves in the leveraged loan market in 2016 when it arranged the loan and priced the debt at 400bp over Libor despite generating negative Ebitda. The leveraged loan market typically requires companies to be generating profits before investors are willing to lend.

As reported by , Uber lost $312 million during the first quarter of 2018, less than half of the $775 million loss posted during the fourth quarter of 2017 and substantially less than the US$598m loss reported during the same quarter a year ago.

Investors were eager to buy the loan when it came to the market due to the buzz generated by the popular startup, allowing the company to increase the size to $1.15 billion from $1 billion during syndication. The loan was later criticized by federal regulators, as reported.

Federal banking regulators implemented Leveraged Lending Guidance in 2013 that more closely examined loans with 上海夜生活论坛leverage of greater than 6.0 times debt to Ebitda and required banks to make sure issuers can pay down all senior debt, or at least half of all debt, within five to seven years.

Comptroller of the Currency Joseph Otting, on,上海夜网Babette,e of the heads of the regulators responsible for overseeing the guidelines, said last week that banks have the flexibility to underwrite loans outside those parameters if they do it in a “safe and sound manner.”

After banks were criticized fo,上海夜生活桑拿会所Babette,r the original loan, Uber privately placed the separate US$1.5bn seven-year term loan with investors in March using Cortland Capital Market Services as the administrative agent in an effort to evade more scrutiny from banking regulators.

The company increased the size of that loan to $1.5 billion from $1.25 billion and lowered pricing to the same rate of 400bp over Libor from initial guidance in the 425bp-450bp over Libor range.

The loan placed directly is also currently seeing a bid of 100.7, according to LPC data.

China says in principle door is open to trade talks with U.S.

BEIJING ( ) – China’s door to talks is op,上海夜网邀请码Idaline,en in principle, the country’s Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs.

The United States and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each, as U.S. President Donald Trump has pushed Beijing to open its economy further and address the United States’ large trade deficit with China.

The two c上海夜生活ountries ended their latest round of negotiations on Sunday with U.S. Commerce Secretary Wilbur Ross and his delegation leaving Beijing without making a public statement. China also made no mention of any new agreements.

Following Chinese Vice Premier Liu He’s talks with Ross, China referred instead to a consensus reached last month in Washington, when China agreed to increase significantly its purchases of U.S. goods and services.

It also warned that any tariffs and other trade measures imposed by Washington would derail any agreements between the two sides.

Foreign Ministry spokeswoman Hua Chunying referred questions to the country’s Commerce Ministry when asked at a regular news briefing when and where a next round of talks might occur, and if Liu was preparing to go to the United States.

“But I think China’s position in principle is very clear, which is that China’s door to dialogue and consultations is always open,” Hua said.

China is sincere in wanting to “appropriately resolve” the problem via talks, she said, without elaborating.

China’s State Council Information Office and the Commerce Ministry did not reply to request for comment on the issue.

The U.S. delegation conveyed Trump’s goal of a fair trading relationship with China, the White House said in a statement.

“The meetings focused on reducing the United States’ trade deficit by facilitating the supply of agricultural and energy products to meet China’s growing consumption needs, which will help support growth and employment in the United States,” it said.

Trump weighed in on Twitter early Monday by saying, “China already charges a tax of 16% on soybeans. Canada has all sorts of trade barriers on our Agricultural products. Not acceptable!”

Later he tweeted that American farmers have been treated unfairly by China, Canada and Mexico for 15 years but that he would change that.

In an editorial, the official state-run China Dai,上海夜生活网交流Radley,ly said the outcome of the weekend talks suggested both sides had continued to take a constructive approach, but warned of Trump’s unpredictability.

“Trump claims that he is seeking fairness and reciprocity in the U.S.’ economic relationship with China but so far he has sought to extort gains from China using the economic advantages the U.S. has,” it said.

At the end of last month’s talks in Washington the two countries released a joint statement and U.S. Treasury Secretary Steven Mnuchin later said the trade war was “on hold.”

But just wh,上海凤楼夜网Radley,en it appeared a trade truce between the two economic heavyweights was on the cards, the White House last week warned it would pursue tariffs on $50 billion worth of Chinese imports, as well as impose restrictions on Chinese investments in the United States and tighter export controls.

The heightened trade tensions with China come as Trump has angered U.S. allies, including Canada, Mexico and the European Union, with tariffs on metal imports.

In first face-off with Clinton, Trump struggles to be ‘change’…

HEMPSTEAD, New York ( ) – Running as an anti-es上海夜网tablishment candidate, Donald Trump took the presidential debate stage on Monday night to hammer home his call for sweeping political change and try to win over millions of undecided voters.

But the Republican nominee seemed unable to capitalize on his opportunity in front of a television audience that by some estimates may have been 100-million strong. Instead of presenting himself as a change agent, he spent most of the evening trading personal insults with his Democratic opponent, Hillary Clinton.

It illustrated the paradox that has plagued Trump’s campaign. Polls show an electorate hungry for change, with a majority believing the country is on the wrong track. Yet Trump’s brash personality and his tendency to stir up controversy have made him, at times, a poor messenger.

Trump started strongly on Monday, sticking to the bread and butter theme of his campaign – the erosion of U.S. manufacturing jobs. But he soon lost his composure, especially when Clinton questioned his success in business and his refusal to release his tax returns and accused him of racism and sexism.

When on message Trump paints a bleak picture of a United States that is victimized by China in trade, hemorrhaging jobs to Mexico and blighted by gangs of illegal immigrants roaming the streets of “warzone” inner cities committing crimes.

Related CoverageClinton gains in online betting markets after U.S. presidential debateTrump’s debate sniffs take off on social mediaSee more stories

Robert Adams, 75, an undecided voter from Boise, Idaho, said he thought Trump’s dystopian view of America was correct. “I think it’s hell in the big cities,” Adams said.

But after watching the debate, he viewed both the real estate magnate and Clinton as a “sad” choice for American voters and was leaning toward Libertarian candidate Gary Johnson.

/Ipsos polling shows an electorate in a downcast mood, with 64 percent of Americans believing the country is on the wrong track. That number includes 87 percent of Republicans and 44 percent of Democrats.

When asked voters to pick the first word that comes to mind when thinking about the country, the most popular choice was “frustration,” followed by “fear” and “anger.”

Some of Trump’s strongest moments at Monday’s debate were when he categorized Clinton, a former secretary of state and U.S. senator as a “typical politician,” accusing her of achieving nothing in her years in Congress and government.

With an electorate yearning for change, Cl,上海夜玩网论坛Easton,inton is ha,上海夜网推油Sabia,mstrung by her long record and her close association with the Obama administration.

Rather than proposing wholesale political overhaul, Clinton offers up a vision of a country headed in the right direction but one that needs some changes to address income ineq,上海021夜网Fabiana,uality and create jobs.

Her more optimistic view impressed another undecided voter, Nancy Willhite, 61, of Portland, Oregon. “She seems more in touch with reality to me,” she said.

A /Ipsos poll published on Monday found that about half of all likely voters in the United States were looking to the debate to help them make a final decision.

Ron Bonjean, a Republican strategist in Washington, said Trump’s performance on Monday would have left many undecided voters with questions about his ability to lead the country.

“Donald Trump has to convince them that he is going to be a safe alternative and I think it’s open to debate whether he pulled that off,” Bonjean said.

Christopher Devine, a political science professor at the University of Dayton in Ohio said Trump’s message on Monday sometimes got lost in a welter of hyperbole that invited mocking responses from Clinton.

“He’ll identify a problem people are concerned about, but in that excitement over making that point, he goes overboard and makes claims that don’t hold up. It loses its effectiveness at that point.”