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McDonald’s agrees settlement in franchisees’ U.S. labor case

( ) – McDonald’s Corp (MCD.N) said on Monday it had agreed to settle a U.S. labor board case on whether the company is accountable for its franchisees’ alleged labor law violations.

The settlement, which must be approved by a National Labor Relations Board judge, would allow McDonald’s to avoid a ruling that it is a “joint employer” of workers at McDonald’s franchises and can be held liable when franchisees violate federal labor law.

McDonald’s, which did not admit to any wrongdoing in the settlement, said in a statement that it was pleased to resolve the claims.

“While the settlement is not yet final, we believe this is上海夜网 a major first step in ending this wasteful multi-year litigation,” the company said.

The exact terms of the settlement were not immediately clear.

Business groups had said that a ruling against McDonald’s could upend the franchising model by making franchisors more vulnerable to lawsuits and requiring them to bargain with unions representing franchise workers.

Illinois-based McDonald’s and the office of NLRB General Counsel Peter Robb presented the settlement to an administrative judge at a hearing in New York.

Union-backed worker advocacy group Fight for $15 filed dozens of legal claims on behalf of McDonald’s workers beginning i,上海021夜网Faith,n 2012. The group said workers across the United States were fired for taking part in protests calling for higher wages.

The judge had agreed in January to pause the trial against McDonald’s that began in 2015 so that Robb, an appointee of President Donald Trump, could pursue settlement talks with the company.

Fight for $15 lawyer Micah Wissinger said the group would object to the proposed settlement.

“In a real settlement, McDonald’s woul,夜上海419龙凤论坛Caden,d take responsibility for illegally firing and harassing workers fighting to get off food stamps and out of poverty,” he said.

The case ,上海会所夜网Dalton,was seen as an important test of how a 2015 NLRB decision that had rankled business groups by making it easier to prove that a company is a joint employer would apply to franchisees.

In December, a new Republican majority on the board overturned the 2015 decision and said only companies with direct control over workers may be considered joint employers.

Last month, the board said its December ruling was invalid because NLRB member William Emanuel, a Trump appointee, had a conflict of interest. Emanuel’s former law firm represented a staffing agency involved in the 2015 NLRB case.

Trump refuses to condemn violence at his U.S. presidential rallies

WASHINGTON ( ) – Republican presidential candidate Donald Trump said that “professional agitators” bore much of the blame for violence at his rallies as video showed a protester being beaten and another apparently being grabbed by Trump’s campaign manager.

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Speaking on ABC’s “This Week” on Sunday, Trump defended campaign manager Corey Lewandowski and declined to condemn supporters who have attacked protesters at his increasingly chaotic rallies.

Nor did he back down from his warning that there would be riots in the streets if the Republican Party denied him the nomination for the November election, despite his being the most popular candidate among Republican voters.

Senior figures in the party are openly plotting to prevent Trump from becoming the nominee because they view him as insufficiently conservative, and Trump was due to privately meet with some party leaders in Washington on Monday, the Washington Post reported.

“I don’t know what’s going to happen, but I will say this, you’re going to have a lot of unhappy people,” he said on “This Week,” predicting anger at the party’s national convention in July should someone else end up the nominee. “I don’t want to see riots, I don’t want to see problems. But you’re talking about millions of people.”

Scenes of mayhem have become increasingly common at the billionaire New York businessman’,上海夜网推油Kai,s rallies, which have been frequently interrupted by protesters, many of them Democrats, who say Trump’s controversial remarks on immigrants and Muslims are dangerous. The 69-year-old candidate has sometimes encouraged his supporters using violence on protesters, and on at least one occasion said that he would like to punch a protester himself.

Television footage from an Arizona rally on Saturday showed a man punching and kicking a protester as he was led out of the event. Another video appeared to show Lewandowski grabbing a protester by the back of his shirt.

Trump declined to condemn the violence and said it was often provoked by protesters, who briefly blocked a highway leading to an Arizona rally on Saturday.

“These people are very disruptive people. They’re not innocent lambs,” he said.

He also defended Lewandowski and said a security official had actually grabbed the protester. Lewandowski also manhandled a reporter last week, according to the Washington Post.

“I give him credit for having spirit,” Trump said of Lewandowski.

Republican leaders have said Trump needs to more clearly discourage his supporters from engaging in violence.

About two dozen senior Republican figures will meet with Trump at a l,上海夜网官方网站Caitlin,aw firm near the Capitol on Monday afternoon in what the Trump campaign described as an上海夜网 effort to improve “party unity”, the Washington Post reported. The newspaper did not say who would be attending.

Candidates were also required to submit their most recently monthly financial disclosures to the Federal Election Commission on Sunday.

Hillary Clinton, the front-runner for the Democratic Party’s nomination, raised $30.1 million in February, according to filings, about $12 million less than that raised by chief rival, U.S. Senator Bernie Sanders of Vermont in the same period.

Clinton began March with $31 million in cash on hand, according to filings.

Starbucks’ mobile order push meets resistance from ritual seekers

LOS ANGELES ( ) – Starbucks Corp (SBUX.O) wants more people to use its time-saving mobile ordering app that lets customers buy drinks without waiting in line.

Interviews with more than two dozen Starbucks customers suggest that the move, aimed at countering robust competition,上海晚上耍女人的地方Landon, from fast-food chains and other coffee sellers, may face obstacles.

To start, saving time was not high on some customers’ wish lists. In fact, several said they deliberately slow down their Starbucks visits to indulge in mini catch-up sessions with the “baristas” who take orders and make lattes.

Such comments highlight Starbucks’ cultural conundrum: How can the company meet the demands of tech-savvy, time-crunched customers as well as growth-hungry investors without turning into a commodity fast-food chain?

“I don’t mind standing in line. I like to chat with the baristas,” said Los Angeles business consultant John Mishler, 30, who began using Starbucks’ mobile order app shortly after it launched nationally in September 2015.

He visits a Starbucks virtually every day, but only uses the service roughly once every three weeks.

“I have an excuse to be doing nothing,” Mishler said, referring to his wait in line. “It’s part of my morning routine and I don’t want to change it.”

“If my life is so complicated that I can上海夜生活网’t wait 5 minutes for a cup of coffee, I have to realign my priorities,” said San Francisco Bay Area marketing consultant Diane Schreiber, 49.

Kevin Johnson, who succeeded St,上海021夜网Caitlin,arbucks’ co-founder Howard Schultz as chief executive in April last year, told shareholders on Wednesday that Starbucks can satisfy both rushing customers and those who prefer to take it easy.

“Some in the industry believe that you must either focus on a retail experience that is about community or a retail experience that is about convenience, you cannot do both,” he said at the company’s annual meeting in Seattle. “We do not buy into the false trade off.”

Shortly after launching the mobile-ordering service, Starbucks suffered a fiasco – bottlenecks at locations where baristas were not prepared for the crush of orders. Baristas worked through the issues, and by the end of 2017 mobile orders accounted for 11 percent of Starbucks’ U.S. transactions. Now, the company wants to offer mobile orderings, previously available only to members of its loyalty program, to all customers.

Its journey is instructive for other restaurants, including McDonald’s Corp (MCD.N) and Dunkin’ Donuts (DNKN.O), which followed Starbucks into mobile ordering.

Such services might help companies save money by automating tasks. On the other hand, some customers say they can put spending on autopilot – a potentially expensive proposition when Starbucks medium “grande” lattes cost around $5 each.

Molly Harper, 26, stopped using Starbucks mobile order after it became a burden on her wallet.

“Your money runs out pretty fast,” said Harper, a Los Angeles restaurant server and self-described coffee lover. She was spending about $40 a week on mobile order and has cut way back since dropping it.

All of the customers interviewed by appreciated the appeal of faster service, and some prefer it.

Alex Vorro, 37, who works in downtown Chicago, is satisfied with mobile ordering – except when beverages take significantly longer than the app estimates or he gets the wrong drink because of a mix-up with someone with the same name.

Washington, D.C., economist Preston Motes, 49, visits Starbucks weekly, pays with its app but doesn’t use mobile order because he finds it “irritating.”

His beef? Mobile orders go into the queue as soon as they are placed, allowing users to skip ahead of the people who are waiting in line.

“I’m always wondering why my drink takes longer when there,上海夜玩网论坛Jace,’s no one in line and it’s because of the mobile orders,” Motes said.

That is not lost on Robert Street, 33, a former Starbucks barista who is still in the habit of watching customers.

Street sends his mobile order to Starbucks through Amazon.com Inc’s (AMZN.O) Alexa every morning as he is leaving for work at a private high school in Houston.

Breezing past the line in the store to grab his beverage waiting on the counter, “I selfishly feel like I won the system and saved a bunch of time,” Street said.

Then, he notices the people in line.

“I always feel like a criminal,” said Street, who admits that he still feels like he is pilfering a drink he already paid for.

He’s heard waiting customers ask baristas what he is doing and wants them to know that he is not Instagram’s @thisisnotmycoffee – a “Bandit” who rates stolen Starbucks mobile order drinks. When reached by , @thisisnotmycoffee declined comment.

New Zealand court rejects Megaupload founder’s call for Obama…

WELLINGTON ( ) – A New Zealand court rejected on Wednesday internet entrepreneur Kim Dotcom’s application for former U.S. President Barack Obama to appear in court in relation to a damages claim over his defunct Megaupload streaming website.

German-born Dotcom, who is wanted by U.S. law enforcement authorities on copyright and money-laundering allegations related to Megaupload, has said the U.S. prosecution was “politica,上海夜生活论坛Nadia,lly motivated” because the Obama administration was under pressure from Hollywood for stricter copyright enforcement.

Megaupload was shut down in 2012, while Obama was president, after an FBI-ordered raid on Dotcom’s Auckland mansion. He was indicted the same year along with fellow Megaupload executives.

Dotcom and several other New Zealand-based defendan,上海足浴夜网联系方式Jacklyn,ts have denied the allegations.

I,上海夜生活乌托邦Nadine,n a separate case, D上海夜生活论坛otcom filed claims for damages of roughly $10 billion in December against U.S. and New Zealand authorities “for the destruction of Megaupload” and the constraints on his liberty for more than seven years.

The High Court dismissed Dotcom’s application to issue a subpoena for Obama in this case, saying it was “premature” and that Dotcom’s “opinion that Mr Obama’s evidence will be relevant to the present claims appears at best speculative”.

Dotcom said on Twitter: “I am disappointed of course because I believe my affidavit contains compelling evidence of the link between the Obama administration, Hollywood, and my extradition proceeding.”

“However, after seven years of this, I am used to fighting to get to the truth and will keep fighting. Next round!”

Obama is visiting New Zealand from until Friday. He has meetings scheduled with Prime Minister Jacinda Ardern and former prime minister John Key before leaving for Sydney.

Time Warner looks appealing as antitrust trial underway: Barron’s

( ) – Shares of Time Warner Inc TWX.N look appealing based on their underlying value and on the strong chance that AT&T In,上海021夜网Jacklyn,c (T.N) will win approval for its $85 billion acquisition of the company, according to the March 26 edition of Barron’s.

AT&T squ,上海夜生活Sabrina,ared off with the U.S. Justice Department on Thursday in a long anticipated antitrust trial, as the two sides disputed whether the company’s purchase of Time Warner would be good for consumers or an expensive drag on innovation.

Time Warner’s stock price ended Friday around $11 below AT&T’s bid price of $103.60 a share, Barron’s said.

“That’s a 12 percent spread, which is appealing, given that many observers see AT&T prevailing over the U.S. government and completing their merger around mid-year,” the financial newspaper said.

Even if the government ends up winning and the deal dies, Time Warner shares might fall $5, but some analysts think they would quickly recover to th,上海夜网千花Talon,eir current value, given the company’s earnings power, Barron’s said.

Time Warner investors could end up even better off if the deal does not go through because the company’s earnings power could support a higher stock price than the deal’s current value, the newspaper said. It added that a Deutsche Bank analyst has a 12-month price target of $120 for the company 上海夜生活on a stand-alone basis.

The antitrust trial is expected to last six to eight weeks.

Written by shyw on February 3, 2019 Categories: yhlaanmq Tags: , , ,

Unilever picks Rotterdam for HQ as Britain loses the battle before…

LONDON ( ) – Britain’s third biggest company Unilever (ULVR.L) UNc.AS picked Rotterdam over London for its main headquarters on Thursday in a blow to Prime Minister Theresa May’s government a year before Brexit.

The Anglo-Dutch maker of Dove soap, Lipton teas and Ben & Jerry’s ice cream launched a review of its dual-headed structure in 2017 after fighting off a $143 billion takeover from Kraft Heinz (KHC.O), triggering a battle between Britain and the Netherlands.

Under the new plan, Unilever will continue to be listed in London, Amsterdam and New York, and will divide into three divisions, keeping two based in Britain. That will enable it to retain its 7,300 staff in the United Kingdom.

The company said the decision to end 88 years of two parent-ownership was not linked to Brexit or any form of protectionism, but would simplify its structure and facilitate acquisitions.

However, British unions and supporters of EU membership bemoaned what they said was a deterioration in Britain’s competitiveness at a time when tax code changes and strong anti-takeover laws have made the Netherlands increasingly attractive.

“Let me categorically say that this had nothing to do with Brexit,” Unilever Chairman Marijn Dekkers told reporters.

“The board takes a 30 to 50 year decision. We think both countries are highly attractive investment climates and we will continue to invest in both countries as a result of this,” the Dutchman added.

It is unclear whether Unilever can remain in the FTSE 100 Index of leading UK stocks, a decision which could hit its shares if tracker funds are forced to sell.

Related CoverageUK says Unilever headquarters’ decision not connected to BrexitUnilever says place in FTSE 100 Index still to be determinedBIG CHANGE

Forged by the 1930 merger of Dutch margarine producer Margarine Unie and British soap maker Lever Brothers, Unilever employs nearly 170,000 people around the world to generate turnover of 53.7 billion euros ($66 billion) in 2017.

With a market value of 105 billion pounds ($146 billion), it competes with the likes of P&G, Kraft, Nestle, Colgate Palmolive, Reckitt Benckiser and independent brands.

In ,上海会所夜网Mace,early 2017, the company – which had been thought to be too big to take over – managed to fight off one of the largest corporate bids ever made, but had to placate investors with a plan to boost profits and reinvigorate the group.

The short-lived bid battle has had widespread repercussions.

In the weeks after the offer, Chief Executive Paul Polman said Britain, known for promoting one of the most open economies in the world, should do more to protect national champions.

Unions in Britain have noted that Dutch companies have stronger powers to fight off unwanted takeovers, as seen last year when paint maker Akzo Nobel (AKZO.AS) fended off a 26.3 billion euro bid from U.S. rival PGG Industries (PPG.N).

“This is a tremendous boost,” Rotterdam,上海足浴夜网联系方式Sabine, Mayor Ahmed Aboutaleb said. “Rotterdam is a place that serves the interests of Unilever well as it will be less of a prey for takeovers.”

Chris Bryant, an opposition UK lawmaker and leading supporter of Open Britain which is urging post-Brexit Britain to remain close to the EU, said the choice of Rotterdam over London was a sign the business environment was weakening.

THREE DIVISIONS

Unilever had held talks with both governments before making its decision, and the move will be seen 上海夜网as a blow to Prime Minister May, who is locked in talks with Brussels over the country’s departure from the EU on March 29, 2019.

Her government welcomed the reassurance on jobs, however.

In recent months, speculation had grown that Unilever would choose the Netherlands after Dutch Prime Minister Mark Rutte, himself a Unilever veteran, proposed a tax change seen as benefiting Anglo-Dutch multinationals.

Unilever said it did not expect any significant tax changes as a result of the deal. It said it had chosen the Netherlands because the Dutch company currently accounted for 55 percent of the group and those shares traded with greater liquidity.

As part of the restructuring, Unilever will create three divisions, with Beauty & Personal Care and the Home Care units being headquartered in London. The Foods & Refreshment division will be based in Rotterdam.

The company said it would give more authority to the heads of those divisions to set strategy.

The long-awaited announcement marks the latest change to the company after it agreed to sell its margarine and spreads business to U.S. private equity firm KKR (KKR.N) for 6.83 billion euros in December.

Polman was asked how long he would continue as CEO now he has made these changes, but said there was still a lot to be done and he remained energised by the job.

The restructuring, he said, would enable Unilever to make changes to its portfolio including major acquisitions, although he stressed he had no immediate plans to do this.

Unilever is not the only major company spanning Britain and the Netherlands – with Royal Dutch Shell and publishing group Relx having strong links with both countries.

($1 = 0.8104 euros)

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BMW searched by German police in emissions swoop

FRANKFURT/MUNICH ( ) – BMW’s headquarters were raided on Tuesday by German prosecutors investigating the suspected use of illegal emissions control software capable of manipulating exhaust levels.

About 100 police and law enforcement officials searched the luxury carmaker’s Munich headquarters and a site in Austria, prosecutors said, adding they had opened an investigation last month against unknown persons for suspected fraud.

Legal sources said the facility searched in Austria was BMW’s engine p,上海夜生活男人好去处Sabine,lan上海夜生活网t in Steyr, where the company employs about 4,500 staff and assembles 6,000 engines a day.

“There is an early suspicion that BMW has used a test bench-related defeat device,” prosecutors said in a,上海新夜网龙凤Dahlia, written statement.

Rival Germ,上海夜生活怎么玩Larissa,an carmaker Volkswagen (VOWG_p.DE) admitted in 2015 to using “defeat device” software in the United States to cheat diesel engine emissions tests, plunging the company into the biggest business crisis in its 100 year history.

Since then, emissions irregularities have surfaced at several major carmakers, although none has proved as serious as at Volkswagen.

BMW, in a separate statement, said prosecutors were looking into “erroneously allocated” software in about 11,400 vehicles of the BMW 750d and BMW M550d luxury models.

Having long denied its cars are equipped with software designed to game emissions tests, BMW said the findings did not reveal a “targeted manipulation” of emissions cleaning.

BMW last month recalled 11,700 cars to fix engine management software after discovering the wrong programming had been installed.

Saudi tycoon’s creditor banks weigh multi-billion dollar debt deal

DUBAI ( ) – Bank creditors of detained Saudi Arabian tycoon, Maan al-Sanea, have asked his advisers for more details on a proposed settlement covering 16 billion riyals ($4.3 billion) in claims before they agree to move forward with the process, sources close to the matter said.

Banks met in Dubai on Wednesday as they seek to resolve the debt crisis that has rumbled on since al-Sanea’s company Saad Group defaulted on its debt in 2009.

The meeting, the first major gathering of the debtors and creditors since 2009, took pl,上海夜生活怎么玩Idaia,ace as auctions were underway to sell around 900 vehicles owned by al-Sanea and Saad.

More than 30 banks, some of whom were represented by lawyers, attended the meeting, said one source close to the matter. Another said around 12,上海夜网官方网站Dallas, banks attended themselves included Emirates NBD, Dubai’s largest bank, Al Rajhi Bank, Saudi Arabia’s second largest bank by assets, and Ger上海夜生活网many’s Portigon.

In a case separate from the dozens of Saudi businessmen and officials who were held up in a corruption crackdown, al-Sanea was detained by authorities late last year for unpaid debt.

Since then a tribunal in charge of resolving Saad’s debt dispute appointed a consortium late last year to liquidate assets owned by the billionaire.

In an effort to halt that process and get al-Sanea released from detention, his family and their advisers are striving to reach a consensual settlement with bank creditors.

As well as properties and shares in companies including National Commercial Bank, Kingdom Holding, Samba Financial Group and Riyad Bank, proposed terms set out a framework for a deal that include “top-up assets” to be contributed by relatives of Maan al-Sanea.

In response to a request by Reemas, a financial consultancy advising al-Sanea, to form a steering committee to coordinate negotiations between lenders and al-Sanea and Saad, the banks asked for more details a,上海夜生活Cadence,bout the “top-up assets” before deciding on whether to move forward with a potential settlement, the sources said.

Reemas is expected to give banks details of those assets in the coming days, the sources said.

Banks, most of which have long written off the debt, have been told they would get better returns under the Reemas process than via the liquidation process, the sources said, who added that the process would also be faster.

They were also told there was potential for other banks to join the process once they have claims approved by the tribunal.

($1 = 3.7499 riyals)

No Obama meeting with Fidel Castro, dissident talks on track: White…

WASHINGTON ( ) – The White House has ruled out an上海夜生活网 encounter between President Barack Obama and revolutionary leader Fidel Castro in Cuba this month and is confident the Cuban government will not create obstacles to a meeting between Obama and dissidents in Havana, a top adviser said on Wednesday.

Despite the goal of improving ties between former Cold War foes, deputy national security adviser Ben Rhodes said Obama would not use his trip to meet Cuba’s demands that he shutter Radio and TV Marti, U.S. broadcasters created to transmit anti-communist programing to the island nation.

Obama plans to hold talks with Cuban President Raul Castro during his historic March 20-22 visit bu,上海夜哪里艳遇Sabine,t will not meet with Castro’s brother, a legendary figure who took power in a 1959 revolution and led Cuba for 49 years.

“We’ve had no discussion about that meeting taking place, and we certainly wouldn’t seek it,” Rhodes, who was one of the negotiators in secret talks that led to a thaw in U.S.-Cuba relations, told in an interview.

Asked if a meeting was ruled out, Rhodes said: “Yes.”

A meeting with the elder Castro could overshadow a trip that is meant to focus on the future of the U.S.-Cuba relationship rather than its troubled past. Castro, 89, stepped down from power after a series of health problems and rarely leaves his Havana home, though he occasionally meets visiting dignitaries.

The White House has said previously it did not expect a Fidel Castro meeting to occur but did not say it was ruled out.

The administration made clear when it set up Obama’s trip that he would meet with anti-government dissidents in Havana despite the Cuban leadership’s objections to what it sees as meddling in the country’s internal affairs.

Rhodes said the list of participants had not been finalized and the meeting would take place in a U.S. facility, which suggests the U.S. embassy or ambassador’s residence.

That meeting would take place after official events with Raul Castro.

Cuban dissidents in the past have reported being detained in their homes or picked up by police en route to major international events such as summits or papal visits, but Rhodes said he did not anticipate that happening for Obama’s trip.

“We haven’t worked out the logistics, but … they have not suggested that they will throw up those types of obstacles,” he said, adding the United States would be watching whether Cuba detained or harassed activists in connection with the visit.

Two of Cuba’s most prominent dissidents, Berta Soler and Jose Daniel Ferrer, were detained on Tuesday, according to dissident groups.

Susan Rice, Obama’s national security adviser, on Wednesday met with Cuban-American activists and U.S. human rights advocates and told them Obama would me,上海晚上耍女人的地方Octavia,et Cuban “independent civil society” representatives chosen by his aides, the White House said.

OUTSTANDING DIFFERENCES

Obama’s Republican critics have accused him of playing down human rights concerns in order to pursue rapprochement with Cuba, which began in December 2014 and is now seen as a major piece of his foreign policy legacy.

The Cuban government has done little to reciprocate for a series of U.S. measures that eased restrictions on U.S.-Cuba travel and trade. It is unclear whether it will make any large gestures during Obama’s visit, the first by a sitting U.S. president since 1928.

Rhodes countered that the outreach to Cuba was aimed at helping the local population while opening up commercial opportunities for Americans.

The administration plans to roll out further measures next week to chip away at decades-old restrictions to commerce.

Obama also wants to lift the embargo on Cuba, which is only possible through congressional action. Republican leaders in Congress oppose such a move.

Other differences remain. The Obama administration is not considering returning the U.S. naval base at Guantanamo Bay to the Cuban government, and Rhodes said it would not make changes to the Radio and TV Marti broadcasters at this time.

Both issues are irritants that the Cubans consider obstacles to full normalization with Washington.

“The Cubans don’t like Radio Marti and TV Marti for sure,” Rhodes said. “There’s only so much you can get to.”

The U.S. government launched Radio Marti in 1983 and later a,上海夜网推油Lake,dded TV Marti to transmit anti-communist news and information into Cuba, where the government has a monopoly on the media.

A decision on whether to put an end to a U.S. program that encourages Cuban doctors and nurses on overseas assignments to defect was not tied to the trip either, Rhodes said.

Wall Street drops as regulation worry sinks tech shares

NEW YORK ( ) – U.S. stocks dropped on Monday, with the S&P and Nasdaq suffering their worst day in just over five weeks, as concerns over increased regulation for large tech companies was spearheaded by a plunge in Facebook shares.

Facebook shares tumbled 6.8 percent as Chief Executive Mark Zuckerberg faced calls from both U.S. and European lawmakers to explain how a consultancy that worked on President Donald Trump’s election campaign gained access to data o,上海高端夜生活在那里Naia,n 50 million Facebook users.

The stock had its worst day since March 2014 and was down 10.8 percent from its closing record hit on Feb. 1, to put the stock squarely in correction territory, a drop of 10 percent from its high.

,上海夜生活群Dalton,Facebook’s plunge weighed heavily on the S&P technology sector, down 2.11 percent, as well as the Nasdaq, off more than 2 percent. Both indexes had their worst daily performance since Feb. 8.

Other major companies with large tech businesses also dropped as recent concerns over regulation in the arena increased. Apple lost 1.53 percent while Alphabet fell 3 percent and Microsoft declined 1.8 percent.

“What’s chilling to an investor is whether Facebook will be able to get advertisers to pay for the rich data they pay for today,” said Kim Forrest, Senior Portfolio manager, Fort Pitt Capital, Pittsburgh.

“Investors are not only concerned about losing advertising dollars. They’re also concerned these companies might come under relatively heavy regulation.”

Related CoverageAnalyst View: Tech sector selloff leads Wall Street sharply lower

The Dow Jones Industrial Average fell 335.6 points, or 1.35 percent, to close at 24,610.91, the S&P 500 lost 39.09 points, or 1.42 percent, to 2,712.92 and the Nasdaq Composite dropped 137.74 points, or 1.84 percent, to 7上海夜生活论坛,344.24.

The S&P once again fell below its 50-day moving average, seen as a technical support level, for the first time since early March. The Nasdaq came about 2 points from its 50-day before paring losses,上海夜网邀请码Nadine,.

Investors were also cautious ahead of a two-day monetary policy meeting at the U.S. Federal Reserve starting on Tuesday.

The market believes the Fed is set to raise interest rates on Wednesday as Thomson data shows traders expect a quarter-percentage-point hike to be a certainty. Investors are now grappling with the question of whether an improving economy could lead to more hikes than anticipated.

“Some of the more salient questions investors have is, has the tone of the Fed, which this time last year was certainly more skewed towards being dovish, has it now extended to becoming more hawkish?” said Eric Freedman, chief investment officer for U.S. Bank Wealth Management in Minneapolis.

Industrials fell 0.82 percent against the backdrop of worries about a global trade war, which are set to dominate a two-day G20 meeting in Argentina.

Selling was broad, with each of the 11 major S&P sectors in the red. The CBOE Volatility index touched a high of 21.87 in one of its sharpest gains since the market sell-off in February.

Declining issues outnumbered advancing ones on the NYSE by a 3.71-to-1 ratio; on Nasdaq, a 2.68-to-1 ratio favored decliners.

Volume on U.S. exchanges was 6.9 billion shares, compared to the 7.2 billion average over the last 20 trading days.

Thousands flock to auction of vehicles owned by Saudi tycoon

DAMMAM, Saudi Arabia ( ) – Thousands of people attended the first day of an auction of vehicles owned by indebted Saudi Arabian tycoon Maan al-Sanea and his company, a sale which officials say will go towards repaying about 18 billion riyals ($4.8 billion) owed to creditors.

Authorities say the auction, the subject of huge interest in the Eastern Province where his business is based, reflects their focus on improving corporate governance and by extension Crown Prince Mohammed bin Salman’s commitment to economic reforms.

Creditors ranging from unpaid workers to local and international banks hope the process, which at a later stage will include sale of bigger assets such as property, will lead to repayment of at least part of their debt.

The businessman, ranked in 2007 by Forbes as one of the world’s 100 richest people, was detained by authorities late last year for unpaid debt dating back to 2009 when his company, Saad Group, defaulted on payments in what was Saudi Arabia’s biggest financial meltdown.

His case is separate from the dozens of Saudi businessmen and prominent figures who have been held in a corruption crackdown, although the,上海足浴夜网联系方式Fabiana, dispute touches on similar investor concerns about Saudi corporate governance.

A three-judge tribunal established in 2016 to resolve Saad’s debt dispute late last year appointed a consortium called Etqaan Alliance to liquidate assets owned by the billionaire.

The first phase of the auction was launched this week, with around 900 vehicles including trucks, buses, diggers, forklift trucks and golf carts, owned by Saad Group, based in the city of Khobar, going under the hammer.

Later stages of the process will include other parts of his business empire and personal wealth including property – estimated at around 10.3 billion riyals, as well as machinery, ceramics and furniture in auctions in the Eastern Province, Riyadh, Jeddah and Yanbu, said Abdulaziz al-Rashid, head of Etqaan Alliance, a coalition of companies including two real estate companies, accountants and lawyers.

After a series of TV, online and billboard adverts run by Etqaan Alliance in recent weeks anticipation about the auction has been building.

Roads around the auction site,上海会所夜网Earl, were jammed on Sunday afternoon as people queued to enter the dusty land plot where the event was taking place.

“Can you believe this man was once a billionaire and today he came to the ground level and has to start from scratch?,” said a buyer of a forklift truck, giving his first name as Nasser.

DUBAI MEETING

Prospective buyers were mainly businessmen from local construction companies and other contractors.

“This auction gives a clear message that the court is serious to carry out the liquidation process of all assets to repay creditors,” said al-Rashid. “We expect to finalize liquidation of all assets during this year.”

Money raised from the first phase of the auction, expected to be completed by the end of April, will go towards repaying creditors owed around 18 billion riyals, he said.

A f,上海夜网推油Kailani,urther 30 billion riyals of debt claims hadn’t been processed by the court yet, he said.

Other people familiar with the sale process said the assets to be auctioned under the first phase were expected to cover around 10 to 15 percent of the 18 billion riyals in claims so far recognized by the court.

Priority for the repayment would first go to repaying un上海夜生活论坛paid workers, some of whom haven’t been paid for more than a year. Vendors and other companies owed money would be given next priority, with banks at a later stage, the people said.

Some of the workers who hope to get paid through the liquidation process were among those attending the event.

Outside the court process, advisers to Saad Group recently asked some bank creditors to meet in Dubai in a bid to try to reach a consensual debt settlement on 16 billion riyals of claims, reported last week.

The advisers were seeking a deal before Saudi authorities make progress in the auction process.

The people familiar with the auction process said that the legal procedures were on track and would not be affected by any possible settlement Saad Group reaches with its creditors.

($1 = 3.7501 riyals)

U.S. banks provide rescue financing for gunmaker Remington

( ) – U.S. gunmaker Remington Outdoor Co has obtained commitments for nearly $300 million from its existing lenders, including som,上海晚上耍女人的地方Nala,e of the biggest U.S. banks, after new sources of funding dried up in the months leading up to its filing for Chapter 11 bankruptcy.

During that time, the company’s investment bank, Lazard Ltd (LAZ.N), approached more than 30 possible lenders, according to court documents.

“The vast majority of lenders contacted, however, indicated they were reluctant to provide financing to firearms manufacturers,” said Lazard banker Ari Lefkovits in the papers.

Most of the banks providing the bankruptcy funding were lenders to Remington before its current financial problems, according to court records. Without the funds, Remington may have been forced to go out of business and the banks could have seen their investment crash in value.

The company and its investors have been under heightened scrutiny after 17 were killed in a school shooting in Parkland, Florida in February.

Remington filed for bankruptcy one day after hundreds of thousands of Americans took to the streets to demand tighter gun control measures.

Banks often sell troubled loans to hedge funds when a borrower is heading into bankruptcy, but one source told that even as the Remington loans were heavily discounted, buyers were scarce.

The company’s bankruptcy lenders include Bank of America Corp (BAC.N), Wells Fargo & Co (WFC.N), JPMorgan Chase & Co (JPM.N) and Deutsche Bank AG (DBKGn.DE), according to court documents.

Remington disclosed the loan details in its Sunday bankruptcy filing, which the company said will allow it to cancel $775 million of debt and bring it out of Chapter 11 as soon as May.

Smaller banks Regions Financial Corporation (RF.N), BB&T Corp (BBT.N), Synovus Financial Corp (SNV.N) and Fifth Third Bancorp (FITB.O) have also committed to help fund Remington’s bankruptcy loans, court documents show. An affiliate of investment manager Franklin Templeton Investments, another lender, is also providing funds.

Bank of America, Regions, Deutsche Bank, JPMo,上海夜网官方网站Lance,rgan and Synovus declined to comment.

BB&T declined to comment on its lending relationships. The bank said part of its consideration is to listen to its clients and stakeholders, who have a wide range of opinions.

“We’re deeply concerned with the increasing amount of gun violence in our schools and communities,” the bank said.

The others, along with Remington, did not immediately respond to a request for comment.

The company ran into trouble after borrowing to ramp up production in 2016 in anticipation of greater industry demand, according to court filings.

The expectation of higher sales was in part driven by fears of a Hillary Clinton presidency and tighter gun controls. With the election of Donald Trump, who has said he strongly supports gun ownership, the firearms industry was stuck with a glut of weapons and higher levels of debt.

Remington, which said in January it was nearly out of cash, plans to tap the loans from the banks to help pay corporate expenses, including payroll, during its bankruptcy filing.

Remington’s bondholders are also providing some of the bankruptcy loan and will receive a stake in the company when it exits bankrup,上海夜生活怎么玩Sabina,tcy.

Their identities were redacted in court documents.

The company also asked the court to seal the letters de上海夜网tailing the fees the lenders will earn from the loans, saying that the sums are commercially sensitive, according to filings in the bankruptcy court in Wilmington, Delaware.

The court records also showed that Remington’s business faces new hurdles in the wake of the Florida shooting.

The company cited a risk to its business from restrictions placed on gun sales by retailers such Walmart Inc (WMT.N), Dick’s Sporting Goods Inc (DKS.N) and Kroger Co (KR.N).

Walmart accounted for 11 percent of Remington sales in 2017, according to court documents.

Remington also said sales could be hurt by more government regulation, including enhanced background checks and a broader definition of “dealer” under current gun laws. Remington said if the 1994 federal assault weapons ban were re-enacted it would have an adverse effect on the business.

Wall Street advances on strong industrial data but posts weekly losses

NEW YORK ( ) – The S&P 500 and the Dow Industr上海夜生活ials rose on Friday, boosted by strong industrial output numbers, though all three of Wall Street’s major indexes posted losses for the week.

February industrial production jumped 1.1 percent, the l,上海夜网推油Jacob,argest increase in four months.

Energy .SPNY led the major sectors of the S&P 500 with a 1.0 percent gain, as oil prices CLc1 rose 1.7 percent.

“Today, there are not a lot of headlines out of Washington, so the focus is more on the economy,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta.

Friday’s gains came at the end of a rocky week dominated by concerns of a U.S. trade war with China and political turmoil, which began with the ouster of Secretary of State Rex Tillerson.

Stocks traded in a narrow range, Lerner said, as investors unwound positions in futures and options contracts expiring on Friday, in a phenomenon known as “quadruple-witching.”

The Nasdaq was barely changed at Friday’s market close.

Investors were also looking ahead to next week, when the Federal Reserve is expected to raise benchmark U.S. interest rates. Rate-sensitive sectors, such as utilities and real estate, rose on Friday, but they could perform poorly if rates increase sharply.

“Many portfolio managers are starting to anticipate that eventually, maybe not at this meeting but in future months, that the Fed will become a little bit more hawkish in its behavior,” said Chad Morganlander, portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey.

The Dow Jones Industrial Average .DJI rose 72.85 points, or 0.29 percent, to end the week at 24,946.51, the S&P 500 .SPX gained 4.68 points, or 0.17 percent, to 2,752.01 and the Nasdaq Composite .IXIC added 0.25 point, or 0 percent, to 7,481.99.

For the week, the Dow fell 1.57 percent, the S&P lost 1.04 percent, and the Nasdaq dropped 1.27 percent.

Walmart Inc (WMT.N) gained 1.9 percent after the University of Michigan’s preliminary reading of its consumer sentiment index rose more than expected to 102.0.

Adobe Systems Inc (ADBE.O) was up 3.1 percent, hitting an all-time high during the session, after the Photoshop maker topped analysts’ profit and revenue estimates for the seventh straight quarter.

M,上海足浴夜网联系方式Tallulah,icron Technology Inc (MU.O) rose 3.0 percent after Baird analysts raised their price target on the stock by $40 to $100. Western Digital Corp (WDC.O) gained 4.1 percent, hitting a three-year high during the session, after Baird upgraded the stock’s rating to “outperform.”

Advancing issues outnumbered declining ones on the NYSE by a 2.01-to-1 ra,上海夜生活论坛Pamela,tio; on Nasdaq, a 1.48-to-1 ratio favored advancers.

The S&P 500 posted 25 new 52-week highs and three new lows; the Nasdaq Composite recorded 178 new highs and 50 new lows.

Volume on U.S. exchanges was 9.54 billion shares, compared to the 7.2 billion average over the last 20 trading days.

Telecom Italia pre-empts Elliott with board resignations

MILAN ( ) – Most of Telecom Italia’s (TIM) (TLIT.MI) board resigned on Thursday, triggering a full board reshuffle in a move seen as pre-empting activist investor Elliott’s bid to change the way top shareholder Vivendi (VIV.PA) runs the company.

Elliott Advisors announced this month that it had taken a stake in TIM and called for six board members to be replaced in a bid to improve strategy, value and governance.

The resignation of the majority of the board on Thursday, including TIM Chairman and Vivendi CEO Arnaud de Puyfontaine, automatically means a new board must now be elected in a shareholder vote.

“This will allow TIM shareholders to decide quickly on a new full board … rather than voting on piecemeal changes to the board as called for by Elliott,” de Puyfontaine said in a statement.

One source said the board move was Vivendi’s attempt to drive a wedge between Elliott and institutional investors.

Another source added the French media group had already secured the backing of some institutional funds to ensure Vivendi-backed executives are appointed to the new board.

De Puyfontaine was likely to be nominated as part of Vivendi’s new list of board candidates, the person said.

Shareholders will vote on a new board on May 4.

TIM said in a statement that Deputy Chairman Giuseppe Recchi resigned, as expected, after accepting a position at another company. Another seven directors, including de Puyfontaine, will step down on April 24.

All eight board members who resigned, including Recchi, came from Vivendi’s slate. Half of them were independent directors.

TIM has lost more than a third of its market value since Vivendi first took a stake in mid-2015 as the French group has slowly tightened its grip on Italy’s biggest phone group.

Last year Vivendi appointed two-thirds of the TIM board and named its own chief ,上海夜生活网419Daisy,executive as TIM executive chairman, raising concerns among other shareholders and politicians in Italy who consider the company of strategic national importance.

Elliott had proposed removing six of the TIM board members nominated by Vivendi, including de Puyfontaine, and replacing them with some well-known figures in Italian business.

A third source said the board would have been very difficult to handle without Thursday’s move.

“It would have amounted to tinkering,” the source said, adding Vivendi had in effect given full power to the shareholders.

On May 4 “shareholders will have the opportunity to choose between an industrial plan able to create value in the long term, and a program of short sighted financial engineering”, de Puyfontaine said.

Elliott had no immediate comment.

The fund, which has built up a potential stake of more than 5 percent in TIM, has said it would urge a new board to convert TIM’s saving shares into ordinary ones, push for a listing or partial sale of its soon-to-be-created network company and reintroduce dividend payments.

Elliott’s attack came just days before TIM Chief Executive Amos Genish – a telecoms veteran and a favorite of Vivendi Chairman Vincent Boll,上海夜网官方网站Mace,ore – held out the promise of richer shareholder returns with a new three-year strategy.

De Puyfontaine said he remained committed to the project of transforming TIM – a former state phone monopoly plagued by a high debt pile and new competitors appearin上海夜生活网g in both broadband and mobile.

In,上海夜玩网论坛Paige, the same statement, TIM said former CEO and current board member Franco Bernabe had been appointed deputy chairman.

Bernabe will also take responsibility for the company’s security department and activities/assets important for defense and national security previously assigned to Recchi, it said.

‘Exhausted’ Toys ‘R’ Us suppliers weigh options as huge retailer shuts

CHICAGO/NEW YORK ( ) – When Toys ‘R’ Us secured a $3.1 billion bankruptcy loan in September, toy makers were reassured they would be paid for goods delivered to the company as it tried to emerge from Chapter 11.

Now th,上海夜网后花园Hadrian,ose payments are at risk in a dramatic turn of events as the iconic toy retailer speeds toward U.S. liquidation.

More than a dozen executives, specialists and lawyers interviewed by said they expected many small vendors to go bankrupt due to the disappearance of Toys ‘R’ Us and Babies ‘R’ Us in the United States.

While the downfall of Toys ‘R’ Us came quickly in the United States, the Wayne, New Jersey-based retailer is still trying to find a buyer for its businesses in Canada, Europe and Asia. In the meantime, it wants to keep stores stocked to maintain customers and value.

“We have a $14-$15 million payment due that hasn’t been paid,” Isaac Larian, chief executive of Bratz dolls maker MGA Entertainment, said. “If I was a guessing man, I wouldn’t think I’d get all of it back.”

MGA, whose L.O.L. Surprise! toys were the industry’s top seller last year, stopped supplying goods to Toys ‘R’ Us on Wednesday, Larian said. Toys ‘R’ Us accounted for 15 percent of MGA’s annual sales. Larian spent Thursday and Friday on the phone with his lawyers and tending to a bid he and other vendors have made to acquire Toys ‘R’ Us’ Canadian operations.

“I have been working from 4 a.m. till midnight every day on this talking to other toy company executives, lawyers, bankers, other retailers,” Larian said. “I’m exhausted.”

At a Thursday hearing at U.S. Bankruptcy Court in Richmond, Virginia, vendor lawyers said they were receiving hourly calls from clients about hundreds of millions of dollars of claims. Whether or not they receive payment will depend on the outcome of the liquidation proceedings.

For some, the writing for Toys ‘R’ Us had been on the wall. Marc Wagman, who heads insurance broker Gallagher’s (AJG.N) U.,上海夜生活群Idaline,S. trade credit and political risk business, said credit insurers stopped covering Toys ‘R’ Us in the first and second quarters of 2017.

“Unfortunately, for a lot of these toy companies, Toys ‘R’ Us represented a means of testing consumer taste, a big retail opportunity and, for some, accounted for 20-40 percent of revenue. How that’s going to be replaced remains to be seen,” Wagman said.

Toys ‘R’ Us, with $11 billion in annual revenue and shops up to 50,000 square feet (4,600 square meters) in size, was the last major specialty toy retailer, a loss not only for small, innovative toy makers that relied on it as a showcase, but also for brands such as Walt Disney Co (DIS.N) that rolled out products with partner labels for blockbuster films like “Frozen” and some of the “Star Wars” series.

‘I’M LOSING A LOT OF BUSINESS’

“I have a short-term concern about the loss of business, the loss of one of my best partners over many, many decades,” said Joseph Shamie, president of Delta Children, one of the chain’s biggest vendors of children’s furniture, with roughly 470 employees.

He has been selling to Toys ‘R’ Us for more than 40 years, since he was 19. “I’m losing a lot of business and in very quick, unmanaged amount of time.”

Shamie said his company will continue to supply products to Toys ‘R’ Us stores outside the United States, but that they are “watching closely.”

“I have to create opportunity so I can continue to em上海夜生活论坛ploy the people I employ,” he said.

In a dire landscape that claimed 17 retail bankruptcies and more than 8,000 U.S. store closures last year alone, vendors are wising up on their customers’ financial health, paying close attention to online sales, new sources of revenue and, especially, liquidity.

Among those that could pick up toy market share: big-box retailers Walmart Inc (WMT.N) and Target Corp (TGT.N); chains such as JC Penney Co Inc (JCP.N), Kohls Corp (KSS.N) and Bed Bath & Beyond (BBBY.O); drugstores like CVS Health Corp (CVS.N) and Rite Aid Corp (RAD.N); and discount outlets like Dollar General Corp (DG.N) or TJ Maxx (TJX.N).

,上海夜生活去哪玩Oakley,

“We’ll work really hard with folks like Walmart and Target to see if they can take up volume by year-end,” said Jay Foreman, chief executive of Basic Fun!, which sells Cake Pop Cuties and Poopeez as well as classics like Lite-Brite.

Foreman expects a 10 percent revenue hit from the loss of Toys ‘R’ Us.

He is also working with Amazon.com Inc (AMZN.O), which will become its second- or third-biggest account this year versus ninth in 2015, but said Amazon does not give minimum orders.

“They’ll put it online and say ‘we’ll see how it does.’”

Without mass distribution and a physical showcase, co-Chief Executive Nick Mowbray of toymaker Zuru Inc said innovations would become far riskier, leaving a dent in toy selection for customers.

“Doing business with a company in Chapter 11 was not supposed to be a ‘gotcha’ situation, but apparently in this case it was,” said Learning Resources Inc Chief Executive Rick Woldenberg. His Vernon Hills, Illinois, company is owed more than $1 million by Toys ‘R’ Us.

He said his company will no longer supply to Toys ‘R’ Us. “I don’t know how many times they think we can be punished.”

Expedia’s Orbitz says 880,000 payment cards hit in breach

( ) – Orbitz, a subsidiary of online travel agency Expedia Inc (EXPE.O), said on Tuesday that hackers may have accessed personal information from about 880,000 payment cards.

The unit said an investigation showed that the breach may have occurred bet,上海夜网Rae,ween Jan. 1, 2016 and Dec. 22, 2017 for its partner platform and between Jan. 1, 2016 and June 22, 2016 for its consumer platform.

Information such as names, phone numbers, email and billing addresses may have been accessed, the travel websi,上海会所夜网Caitlin,te oper上海夜生活论坛ator said, adding that its website, Orbitz.com, was not impacted.

“To date, we do not have direct evidence that this personal information was actually taken from the platform and there has been no evidence of access to other types of personal information, including passport and travel itinerary information,” Orbitz said.

For U.S. customers, social security numbers were not involved in this incident, the company said.

The company said it has addressed the breach after it was discovered in March this year.

Credit card issuer American Express Co (AXP.N) said in a statement that th,上海夜生活论坛Kailani,e attack did not compromise its platforms.

The breach is the latest in the travel sector and follows attacks on global hotel chain InterContinental Hotels Group Plc (IHG.L) and Hyatt Hotels Corp (H.N) last year.

Expedia’s shares fell as much as 1.9 percent to $108.99.

Written by shyw on May 27, 2018 Categories: yhlaanmq Tags: , , ,

New German finance ministry pushes free trade at G20 meeting

BUENOS AIRES ( ) -,上海高端夜生活在那里Eden, Germany’s new finance minister Olaf Scholz warned on Sunday that protectionism could harm future economic prospects and said Germany would continue talks to dissuade the United States from imposing planned punitive steel and aluminum tariffs.

Scholz told reporters en route to his first meeting of G20 finance ministers and central bank governors that he would underscore the importance of free trade for the global economy when he meets U.S. Treasury Secretary Steven Mnuchin on Monday.

The world economy ,上海夜生活网交流Eden,is growing together “and it should stay together” said Scholz, a member of the Social Democrats, junior partners in Chancellor Angela Merkel’s coalition government.

Free trade had a decisive role to play in securing future economic growth, Scholz said, adding, “That’s why it would be difficult if protectionism played a bigger role.”

Scholz said Germany had a “clear position” on the planned U.S. tariffs, and hoped further discussions with U.S. officials could help avert a looming trade war with the European Union.

German and other EU officials are pushing back against plans announced earlier this month by U.S. President Donald Trump to impose duties on incoming steel and aluminum. He also threatened to levy a tax on European cars if the EU did not remove tariffs and trade barriers on a range of goods.

Merkel spoke by telephone on Saturday with Chinese President Xi Jinping about the proposed U.S. tariffs, and underscored the importance of multilateral cooperation on global trade.

The two leaders agre上海夜生活ed to work on solutions for excess capacity in world steel markets within the framework of the G20 group of industrialized nations.

German Economy Minister Peter Altmaier, a member of M,上海新夜网龙凤Sabia,erkel’s conservatives, will travel to Washington later on Sunday to press U.S. officials on the issue.

Wall Street closes lower in rocky session on Amazon losses

NEW YORK ( ) – Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon shares and a continuing slide in technology stocks.

All three major U.S. indexes ended the day in negative territory following Tuesday’s late-session tech-driven sell-off following Monday’s rally as traders moved to defensive stocks after recent weeks’ heightened volatility.

“People should expect what’s happening given the kind of volatility we’ve seen as well as the fact that we’re kind of in a news vacuum prior to quarterly earnings,” Chuck Carlson, chief executive at Horizon Inv,上海夜网后花园Hadrian,estment Services in Hammond, Indiana, said. “It’s a market that’s really looking for the next leadership.”

The Dow Jones Industrial Average fell 9.29 points, or 0.04 percent, to 23,848.42, the S&P 500 lost 7.62 points, or 0.29 percent, to 2,605 and the Nasdaq Composite dropped 59.58 points, or 0.85 percent, to 6,949.23.

Online retailer Amazon.com was down as much as 6.7 percent, losing more than $53 billion in market value after a report that President Donald Trump indicated he wanted to rein in the company. The stock later pared its loses to end the day down 4.4 percent.

,上海夜生活桑拿会所Lark,Shares of automaker Tesla slumped 7.7 percent, extending recent losses, following a credit downgrade and news that officials are investigating a fatal crash and fire in California.

Countering those losses were gains for consumer staples, real estate, telecom, and healthcare.

The S&P Energy index posted the biggest loss of the 11 major S&P sectors, ending 1.99 percent lower as crude prices fell after data showed a surprise build in U.S. stocks.

The markets shrugged off a report from the U.S. Commerce Department that the U.S. economy slowed less than previously reported in the fourth quarter as consumer spending grew at its fastest quarterly pace in three years. GDP expanded at a 2.9 percent annual rate in the last three months of 2017, ahead of the previously reported 2.5 percent.

Strong economic data could invite a more hawkish approach by the U.S. Federal Reserve this year with respect to further interest rate hikes.

“I’m not surprised by the economic data,” said Carlson. “But the market right now is looking past that from a valuation standpoint.”

Stocks had jumped earlier in the week as trade war fears ebbed following comments from officials in the United States and China that implied the world’s two largest economies would renegotiate tariffs and trade imbalances.

China is expected to announce a li,上海会所夜网Jack,st of tariffs on U.S. imports in retaliation against the expected tariff proposals from the U.S. on Chinese goods.

Advancing issues outnumbered declining ones on the NYSE by a 1.12-上海夜生活论坛to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored decliners.

Volume on U.S. exchanges was 6.96 billion shares, compared to the 7.36 billion average for the full session over the last 20 trading days.

Senator McCain says could subpoena U.S. sailors held by Iran

WASHINGTON ( ) – U.S. Republican Senator John McCain said on Sunday he would subpoena 10 U.S. sailors to testify about their brief detention by Iran if the Obama administration does not provide the findings of an investigation into the incident by March 1.

“It’s an option that I do not want to exercise,” McCain, who chairs the Senate Armed Services Committee, told reporters as he was returning to the United States from an international security conference in Germany.

    The sailors were detained by the Islamic Revolutionary Guard Corps after their two patrol boats strayed into Iranian waters on Jan. 12. U.S. officials later blamed a navigational problem. 

The Americans were freed the next day after U.S. Secretary of State John Kerry intervened with Iranian Foreign Minister Javad Zarif, averting a dip,夜上海419龙凤论坛Dahlia,lomatic crisis just days before implementation of the Iran nuclear deal and the lifting of international sanctions on Tehran.

Iranian media broadcast videos of the detainees, including scenes in which Revolutionary Guards personnel trained weapons on the sailors as they kneeled.

The Obama administration has said the sailors’ speedy release showed the power of diplomacy and the promise of its new enga上海夜生活网gement with Iran.

The U.S. Navy had briefed McCain several times about the incident, and would continue to do so as the investigation proceeded, said one U.S. official.

Republicans have been critical of the deal with Iran, and some say the detainment of the sailors showed how little regard Iran had for the United States.

    McCain said he had been told the sailors were still being debriefed, but added that he assumed that administration members were “dragging their feet” in completing an investigation into the incident, which he accused Iran of exploiting for propaganda purposes.

    “I guarantee you, if they don’t have a debrief by the first of March like they said, we’ll have a hearing and we’ll subpoena. We’re not going to wait any longer,” McCain said. “We will subpoena the individuals if we have to.”

McCain said he raised the case in ,上海021夜网Lance,a meeting on Saturday with Kerry on the sidelines of the s,上海夜生活网交流Caden,ecurity conference in Munich.

Republican Kirk breaks with U.S. Senate leaders on high court seat

WASHINGTON ( ) – Republican U.S. Senator Mark Kirk, facing a tough re-election fight in Illinois, said on Monday the Senate should vote on whomever President Barack Obama nominates to the U.S. Supreme Court, breaking with his party’s leadership.

In another defection among Republicans, Senator Susan Collins of Maine called for hearings on the eventual nominee.

A political fight has erupted over filling the 上海夜生活court’s vacancy left by the Feb. 13 death of conservative Justice Antonin Scalia, with many top Republicans threatening to block any nominee put forth by the Democratic president.

Obama’s nominee could shift the court to the left for the first time in decades.

Senate Majority Leader Mitch McConnell has said the seat should remain vacant until Obama’s successor takes office in January so voters can have a say on the selection when they cast ballots in the November presidential election.

Kirk wrote in a Chicago Sun-Times opinion piece that he recognized the right of any president to choose a Supreme Court nominee and he looked forward to Obama picking one for the Senate to consider for confirmation.

“I also recognize my duty as a senator to either vote in support or opposition to that nominee following a fair and thorough hearing along with a complete and transparent release of all requested information,” Kirk added.

Kirk, who holds Obama’s old Senate seat, said he hoped the president would pick a nominee “who can bridge differences, a nominee who finds common ground and a nominee who does not speak or act in the extreme.”

Kirk’s stance illustrates that McConnell may have trouble keeping Senate Republicans ful,上海晚上耍女人的地方Earl,ly united over filling Scalia’s seat. Some senators like Kirk are seeking re-election this year in states where Democrats are competitive.

Collins, who is not facing re-election until 2020, said on Monday the Senate had an obligation to hold public hearings on Obama’s nominee.

“The kind of thorough process that a hearing allows is the best way to e,上海夜网官方网站Rae,valuate a nominee,” Collins told reporters, according to the Hill newspaper.

But it appeared unlikely that enough Republicans would peel away from McConnell to allow a vote on the Senate floor.

Republican Senator Orrin Hatch of Utah said on Monday it was up to McConnell and Judiciary Committee Chairman Chuck Grassley to decide whether to hold confirmation hearings.

“I feel like we ought to put it off and get it out of th,上海足浴夜网联系方式Tabitha,is harsh atmosphere,” Hatch told reporters.