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Fate of lawsuit brought by Trump model to be decided this month

NEW YORK ( ) – A judge will decide by the end of this month whether to proceed with a proposed class action lawsuit filed by a Jamaican fashion model against Republican presidential front-runner Donald Trump’s modeling agency, the judge’s office said.

Alexia Palmer accuses Trump Model Management LLC of lying to the federal government in its work-visa application that said she would be paid a $75,000-a-year salary while living in the United States, according to court documents.RECOMMENDED: Iran tests more missiles, says capable of reaching Israel

Instead, according to court papers, Palmer received a total of $3,880.75 during the three years she was under contract with the agency. The complaint alleges “fraudulent misrepresentation” and violations of U.S. immigration and labor laws. It asks for $225,000 in back pay.

The suit was originally filed in October 2014. A decision on a pending motion by Trump Model Management to dismiss is expected by the end of March, the clerk for Judge Analisa Torres, who is presiding over the case in the U.S District Court, Southern District, told .

If Torres rules the case can proceed, it could revive attention on Trump’s foreign labor practices at a time when the celebrity billionaire’s rise in American politics has riveted the world’s attention.

Trump’s lawyers have called the case “frivolous” and “without merit.” In court documents, they,上海夜哪里艳遇Dalton, said Palmer wasn’t an employee and was more than adequately compensated for a “very brief stint as a fashion model,” which they say amounted to less than 10 days of work over three years.

could not independently confirm that assertion.

“At the end of the day, this model just didn’t have a successful career, and we fully expect to win,” said Lawrence Rosen, a lawyer for Trump Model Management.

Although Trump owns the modeling agency, the suit does not name him. Trump’s campaign spokeswoman, Hope Hicks, said in a statement that Trump Model Management’s treatment of Palmer was in line with “standard practice in the modeling industry.”

Palmer’s lawyer, Naresh Gehi, says his client was cheated of earnings and seduced by a life of glamour that never materialized. “The visa application the company filed with the government requires that people are paid the full amount,” Gehi said. “It’s a requirement.”

Palmer, who was 17 when she came to New York in 2011, was not available to comment.

TOP JAMAICAN MODEL

Sylvia Ayass, a lawyer who has worked with models on visas like Palmer’s, said agencies typically pay what they state on visa applications.

Trump has won Republican frontrunner status in the 2016 election in large part by positioning himself as a champion of the American worker who will deport illegal immigrants, build a wall with Mexico,上海凤楼夜网Fabiana, and do away with the off shoring of U.S. jobs.

This is not the first time Trump’s labor practices have drawn criticism. A story published in August revealed that Trump’s companies sought to import at least 1,100 workers on temporary visas since 2000. Of those, 250 were filed for foreign fashion models, according to the analysis of federal Department of Labor data.

Using a federal visa program called H-1B that allows U.S. employers to hire “specialized” foreign labor, Trump’s modeling agency offered Palmer “at least $75,000 per year” for three years. It listed that salary on her H-1B visa application in 2011, according to the court documents reviewed by .

It’s not the industry norm to use H-1B visas, which are usually reserved for highly skilled specialized labor like engineers, programmers and medical s,上海仙霞路夜生活Gabi,pecialists. O-1 visas are more common, modeling agency lawyers and executives said. The O-1 is typically used by artists and athletes.

Though H-1B use is rare, a analysis found that in the past three years, modeling agencies have submitted 181 applications for H-1B visas for foreign models. Of those, 173 stated that the model would be paid an hourly wage, ranging from as little as $8.40 an hour to as much as $500 an hour.

The Trump Model yearly salary listed in the federal database of H-1B applications was the outlier. 上海夜网

Rosen, the lawyer for Trump Model Management, said the $75,000 a year figure was simply a guess, not a guarantee.

Under that contract, Palmer agreed “to promptly reimburse” Trump Model Management “for any and all costs and expenses” that the agency incurred relating to her modeling.

According to the suit, the agreement stipulated that Trump Model Management would take a 20 percent cut of Palmer’s earnings but instead took 80 percent by deducting charges for everything from postage to walking lessons to mobile phone costs and limousine rides, as well as $4,000 in “administrative fees,” according to court documents.

The suit said it was seeking class-action status to represent other models who believe they were misled and underpaid after coming to the United States with sponsorship from Trump’s modeling agency.

U.S. consumer spending up slightly; jobless claims at 45-year low

WASHINGTON ( ) – U.S. consumer spending rose marginally for a second straight month in February as households boosted savings, the latest indication t上海夜生活hat the economy lost momentum in the first quarter.

But the economy’s fundamentals remain strong, with other data on Thursday showing the number of Americans filing for unemployment benefits dropping to more than a 45-year low last week. A tightening labor market is expected to start driving up wages by the second half of this year.

Consumer spending has been tepid this year despite strong consumer confidence, which has been bolstered by income tax cuts. Some economists said the tax cuts, which came into effect in January, only reflected on most workers’ paychecks in late February. They also believed that delays in processing tax refunds had contributed to holding back spending.

“The outlook for spending on discretionary categories is obviously more uncertain, though there are some plausible reasons to expect better consumption outcomes ahead,” said Michael Feroli, an economist at JPMorgan in New York.

“Relative to years past, tax refunds were paid out slower at the start of this year.”

The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2 percent last month after a similar gain in January. It wa,上海夜生活网419Lark,s supported by a rebound in spending on long-lasting goods, such as motor vehicles, as was a rise in financial services and insurance expenditures.

The increase in consumer spending in February was in line with economists’ expectations.

There was also a moderation in m,上海夜生活去哪玩Jacklyn,onthly inflation readings after prices pushed higher in January. The personal consumption expenditures (PCE) price index excluding the volatile food and energy components rose 0.2 percent last month after advancing 0.3 percent in January.

That lifted the year-on-year increase in the so-called core PCE price index to 1.6 percent, the biggest gain since February 2017, from 1.5 percent in January. The core PCE index is the Federal Reserve’s preferred inflation measure. It has been below the U.S. central bank’s 2 percent target since mid-2012.

Economists believe ,上海夜生活怎么玩Jacob,the annual core PCE price index could accelerate to 1.9 percent in March as last year’s weak readings drop out of the calculation. The Fed raised interest rates last week and forecast at least two more rate hikes this year.

“Policymakers can be confident about the inflation outlook and will likely keep with the plan to raise rates a couple more times this year,” said Chris Rupkey, chief economist at MUFG in New York. “Inflation is not heating up, but pressures are building.

The dollar was little changed against a basket of currencies while stocks on Wall Street were trading higher. Prices of U.S. government bonds rose.

SLOWING GDP GROWTH

The steady rise in inflation last month also helped curb consumer spending. When adjusted for inflation, consumer spending was unchanged in February after falling 0.2 percent in the prior month. That suggests a sharp slowdown in consumer spending in the first quarter after it surged at an eye-popping 4.0 percent annualized rate in the fourth quarter.

The tepid consumer spending added to data on trade, housing and business spending on equipment that have left economists anticipating moderate economic growth in the first quarter.

Data forecasting firm Macroeconomic Advisers cut its first-quarter GDP growth estimate by three-tenths of a percentage point to a 1.5 percent rate. Economists at Barclays lowered their forecast to a 1.7 percent rate from 1.8 percent. The economy grew at a 2.9 percent pace in the fourth quarter.

In February, personal income rose 0.4 percent, matching the increase of the previous two months. Wages increased 0.5 percent last month after climbing 0.6 percent in January.

Savings increased to $497.4 billion in February, the highest level since August 2017, from $471.3 billion in the prior month. That lifted the saving rate to a six-month high of 3.4 percent from 3.2 percent in January.

Income growth could pick up as the labor market tightens further, which should help to support consumer spending.

In a separate report on Thursday, the Labor Department said initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 215,000 for the week ended March 24, the lowest level since January 1973.

The labor market is considered to be near or at full employment. The jobless rate is at a 17-year low of 4.1 percent, not too far from the Fed’s forecast of 3.8 percent by the end of this year.

“These data continue to flash further tightening in labor market conditions with firms unwilling to fire existing workers, presumably because of the difficulty of finding replacements,” said John Ryding, chief economist at RDQ Economics in New York.

Facebook took years to clamp down on developers’ data harvesting:…

LONDON ( ) – A former Facebook operations manager told a British parliamentary committee on Wednesday that data harvesting of member profiles by outside software developers was once routine and that the company took years to clamp down on the practice.

Sandy Parakilas, who was in charge of po,上海夜生活服务Easton,licing Facebook’s data handling procedures in 2011 and 2012, shed fresh light on business practices that are alleged to have enabled Cambridge Analytica to gain unauthorized access to the personal data of tens of millions of U.S. voters.

The social networking giant has been rocked this week after a whistleblower said Cambridge Analytica, which U.S. President Donald Trump hired for his 2016 election campaign, improperly accessed information on Facebook users to build deta上海夜生活iled profiles on American voters.

“There was very little detection or enforcement,” Parakilas said in testimony via videolink before the House of Common’s Digital, Culture, Media and Sport Committee. “During my 16 months (at Facebook), I don’t remember a single physical audit of a developer” who was storing users’ data from the social network.

Parakilas highlighted vast potential abuses of a little-understood feature known as “friend permissions”, which enabled software developers to connect their apps up to the friends of users, and even the friends of friends, the so-called “social graph” at the heart of Facebook’s network of connections.

“You are likely talking about tens of thousands of apps that got ‘friend permissions’ and some of those apps had tens – it was huge – or hundreds of millions of users, so there was a vast (amount) of data that passed out the door,” Parakilas said.

Facebook turned off the friend permissions feature in 2015.

Asked by a parliamentary committee member whether there were incidents where this data-sharing feature was misused, Parakilas said: “Ther,上海夜玩网论坛Gabe,e may well have been. However, Facebook did not investigate deeply enough to determine exactly.”

Facebook declined to comment directly on the testimony of the ex-employee. In announcing the suspension of Cambridge Analytica and related researchers from Facebook late last week, it said it now requires app developers to justify any data they collect and how they are going to use it: “In the past five years, we have made significant improvements in our ability to detect and prevent violations by app developers.”

Parakilas, who now works as a product manager at Uber, said he had warned senior executives at Facebook. He said in a Guardian interview this week that he left in frustration over the company’s failure to exercise more oversight on privacy issues.

One committee member pointedly asked whether Mark Zuckerberg, Facebook’s founder and chief exe,上海高端夜生活在那里Idaia,cutive, was aware of the issue. Parakilas said he did not know first-hand, but he added: “I don’t think it was a secret that this was a problem.”

“It was well understood both internally and externally that there were risks with respect to the way the Facebook platform was handling data,” he said.

Hong Kong’s richest man Li Ka-shing retires, says worked ‘too long’

HONG KONG ( ) – Hong Kong’s richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd (0001.HK) on Friday, bringing to a close a rags-to-riches story that made him a hero in the freewheeling capitalist hub.

Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate said in a filing to the Hong Kong bourse, passing the mantle to his eldest son Victor Li, who was named successor several years ago.

While Hong Kong’s adoration of Li Ka-shing and his story has waned somewhat in recent years, he is still stepping aside from one of Asia’s most outward-looking empires, spanning more than 50 countries and 323,000 employees at last count.

A factory appr,上海仙霞路夜生活Queena,entice when he was 13, Li, has been called “Superman” for his business acumen and success.

“I’ve been working for a long time, too long,” a relaxed Li, dressed in a dark suit and striped tie, told reporters.

He said the secret to his success included factors like continual self-improvement and unstinting hard work.

“I have always taken the straight path,” he said. “I’m very happy and very honoured I have had this opportunity.”

Li will, as expected, stay on as senior adviser. Victor, who has been a group co-managing director for several years, is seen as a steady hand unlikely to change course.

At the news conference, however, when several questions were addressed directly to Victor, Li ended up interrupting his son with his own answers.

Related CoverageA factory worker at 13, Hong Kong’s iconic billionaire retires

During his tenure, Li Ka-shing increased the pace of overseas acquisitions, helping boost the group’s profits with growth in the European telecoms business offsetting a drop in the value of the British business following Brexit.

Through his flagship CK Hutchison, Li controls the biggest container port operator in the world, Canadian oil giant Husky Energy Inc (HSE.TO), one of Europe’s leading telecoms operators, as well as infrastructure assets and a long-time interest in Britain that saw him awarded a knighthood in 2000.

“Li Ka-shing is remarkable – he’s a role model and I regard him as such,” said Stuart Gulliver, former CEO of HSBC who in a 38-year career with the bank worked closely with Li.

It was HSBC’s 1979 sale to Li of a stake in Hutchison Whampoa, a colonial-era trading house, that vaulted him into the first rank of Chinese tycoons.

Commending Li’s long laid-out succession plan, unusual among tycoons in a region where discussing death is often viewed as unlucky, Gulliver praised Victor fo,上海夜生活论坛Radcliff,r being extremely capable.

Reinforcing the view that the transition will be seamless, Victor said: “Tomorrow morning when I go to work there won’t be any difference … (My father and I) are also upstairs-downstairs neighbours, how could we not chat?”

STRONG RESULTS AT LI’S COMPANIES

The news of retirement came together with the announcement of better-than-expected results at some of Li’s biggest firms.

CK Hutchison reported a 6 percent rise in 2017 profit to HK$35.1 billion ($4.48 billion), versus the average forecast of HK$34.63 billion from 12 analysts polled by Thomson .

The real estate arm CK Asset Holdings上海夜生活网 Limited (1113.HK) saw annual profits surge 55 percent, also beating estimates.

“Healthy and synchronised growth in major economies gathered pace in 2017. Provided this trend continues and inflation remains benign, the environment in 2018 should remain supportive f,夜上海419龙凤论坛Hadley,or global trade and for our businesses,” Li said.

He declined to forecast, however, whether the red-hot local property market, one of the world’s most expensive, had peaked.

“I dare not speculate on property prices … property prices have gone out of reach for the public,” he said, while urging the government to build more public housing.

Li, who ranked 23rd on the world’s rich list by Forbes, is the wealthiest tycoon in Hong Kong, a former British colony that returned to China in 1997.

Over the past few years, Li’s close ties with Beijing’s Communist Party leadership have come under scrutiny. He has never been publicly over-critical.

“I like to read history very much… and about my country. If I can vote today, on the constitutional reform (in China) so (President) Xi (Jinping) can go for another term … I will vote for him,” Li said.

“My relationship with the central government is pretty good. But personally I don’t say things that I shouldn’t say.”

Despite his retirement, the sprightly Li said he would not completely rest.

“I will don a new battle suit and put all my efforts into the work of my (charity) foundation, especially on the aspects of medicine and education.”

CK Hutchison shares closed up 0.3 percent on Friday.

($1 = 7.8432 Hong Kong dollars)

Bank of America pays $42 million fine in New York ‘masking’ probe

NEW YORK ( ) – Bank of America Corp (BAC.N) will pay a $42 million fine and admitted wrongdoing to settle claims by New York,上海夜网Jack,’s attorney general that it fraudulently routed clients’ stock trades to outside firms, including one run by swindler Bernard Madoff.

New York Attorney General Eric Schneiderman announced the settlement on Friday, and called the fine the largest collected by the state to resolve an electronic trading probe.

The attorney general said Bank of America Merrill Lynch had undisclosed agreements with several electronic trading firms from March 2008 to May 2013 to handle client trades.

He said the bank told clients it was processing the trades 上海夜生活论坛in-house, even going so far as to alter trade confirmations, as part of an effort to make its electronic trading services appear safer and more sophisticated than they were.

Schneiderman said the “masking” scheme affected more than 16 million trade orders and 4 billion shares, benefiting such firms as Madoff Securities, Citadel Securities, D.E. Shaw, Knight Capital and Two Sigma Securities.

The bank also admitted to having told traders in its “dark pool,” a private venue where they expect,上海夜生活去哪玩Nala,ed protection from high-speed traders, that up to 30 percent of orders came from retail traders, when the percentage was closer to 5 percent.

“Bank of America Merrill Lynch went to astonishing lengths to defraud its own institutional clients about who was seeing and filling their orders, who was trading in its dark pool, and the capabilities of its electronic trading services,” Schneiderman said in a statement.

Bill Halldin, a bank spokesman, said in an email: “At all times we met our obligation to deliver the best prices to clients. About five years ago, we addressed the issue,上海足浴夜网联系方式Radcliff,s concerning communicating to clients about where their trades were executed.”

The Charlotte, North Carolina-based bank also admitted that its masking activity violated New York’s powerful securities fraud law, the Martin Act.

In 2016, Barclays Plc (BARC.L), Credit Suisse Group AG (CSGN.S) and Deutsche Bank AG (DBKGn.DE) settled separate electronic and high-speed trading probes by Schneiderman’s office for a respective $35 million, $30 million and $18.5 million. They also reached related settlements with the U.S. Securities and Exchange Commission.

Madoff is serving a 150-year prison term for running a huge Ponzi scheme involving his investment advisory business.

South Dakota governor considers transgender bathroom bill

( ) – South Dakota would be the first U.S. state to dictate what bathrooms transgender students are allowed to use in public schools if Republican Governor Dennis Daugaard signs a bill into law.

The state Senate on Tuesday voted 20-15 to send a bill to Daugaard that requires transgender pupils to use restrooms and locker rooms in public schools that correspond to their gender at birth and not the gender that fits their current identity, legislative records showed.

“This bill is about protecting young children who are too innocent … to understand the complexity of life,” Republican Senator David Omdahl said before voting for the bill.

Staff in Daugaard’s office were not immediately available for comment. Daugaard has said that,上海夜哪里艳遇Sabine, he will research the issue before deciding whether to sign the legislation, local media reported.

The bill also requires schools to provide “reasonable” accommodations for transgender student,上海夜网Queena,s. Those accommodations include a sin上海夜生活gle-occupancy restroom, a unisex restroom, or the controlled use of a restroom, lock,上海夜生活去哪玩Falkner,er room or shower room.

“South Dakota lawmakers are sending a message that it’s okay to segregate, humiliate, and bully transgender students,” the American Civil Liberties Union said in an online post on the organization’s website.

The passage of the bill comes two weeks after a U.S. appeals court heard arguments over whether a high school in Virginia should be ordered to allow a transgender student to use the boys’ bathroom, even though he was born a biological female.

In December, a suburban Chicago school district reached an accord with the U.S. government over locker room access for a transgender student after the U.S. Department of Education’s Office of Civil Rights found the district discriminated against the student.

Written by shyw on November 24, 2017 Categories: tgnkovyn Tags: , , ,

Cruz, Rubio want to send more prisoners to Guantanamo

WASHINGTON ( ) – White House hopefuls Ted Cruz and Marco Rubio and 13 other Republican U.S. senators on Thursday demanded that I,上海夜网后花园Queena,sl,上海夜生活怎么玩Dahlia,amic State fighters be sent to the Guantanamo Bay detention center, which would boost its population as President Barack Obama moves to close it.

The lawmakers introduced a resolution expressing the need to detain the fighters at the controversial military prison in Guantanamo Bay, Cuba, after reports that U.S. special op上海夜生活网erations forces had captured leaders of the militant group.

“There should be no confusion in the minds of our enemies that, if captured, they will be sent to the detention facility in Guantanamo Bay to be interrogated,” Rubio said in a statement.

Rubio, Cruz, billionaire front-runner Donald Trump and Ohio Governor John Kasich face off in a presidential debate on Thursday night in Miami.

The resolution was led by Senator Steve Daines. In addition to Rubio and Cruz, the co-sponsors were Senators Jerry Moran, Cory Gardner, Tom Cotton, Mark Kirk, Orrin Hatch, Joni Ernst, Johnny Isakson, John Boozman, Pat Roberts, Jim Inhofe, Tim Scott and David Vitter.

The measure would be nonbinding but underscores the strong resistance in the Republican-controlled Congress toward Obama’s efforts to close the detention camp.

Obama launched a final push to persuade Congress to close the detention center for suspected members of groups such as al Qaeda last month.

The Obama administration has been trying for years to make good on a pledge the president made at the beginning of his first term in 2009 to close the facility but has faced stiff political opposition.

Republican lawmakers insist the prison is an essential tool for holding and interrogating suspects who threaten the United States. Opponents of the detention center say that holding prisoners for years without charge or trial is a human rights violation that goes against fundamental U.S. values and potentially endangers America,上海仙霞路夜生活Jack,n military personnel.

Broadcom ends bid for Qualcomm after President Trump nixes deal

( ) – Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

The company,上海夜生活网419Gabriella, said it has also withdrawn its slate of independent director nominees for Qualcomm’s annual shareholder meeting.

Broadcom, however, expects to continue with its plan to redomicile to the United States.

“Although we are disappointed with this outcome, Broadcom will comply with the order,” the chipmaker said.

Sour,上海夜生活怎么玩Naia,ces had told on Tuesday that Broadcom was ready to scrap its bid for Qualcomm.

Related CoverageBlocked Broadcom deal may stunt Chinese Silicon Valley investmentTimeline: Broadcom-Qualcomm saga comes to an abrupt end

Broadcom’s boa,上海夜生活论坛Earl,rd met late on Tuesday to formalize pl上海夜生活论坛ans to move its base to the United States, at a cost of about $500 million a year under a higher tax rate, the sources said.

Being based in the United States as opposed to Singapore should make it easier for Broadcom to make acquisitions of U.S. companies without falling under the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS).

Shares of Broadcom were untraded, while those of Qualcomm were up marginally before the opening bell.

Supreme Court rejects AIG ex-CEO Greenberg’s bailout challenge

WASHINGTON ( ) – The U.S. Supreme Court on Monday handed a defeat to former American International Group Inc (AIG.N) CEO Maurice “Hank” Greenberg, refusing to hear an appeal he led arguing that the federal government illegally bailed out the insurer during the 2008 financial crisis at the expense of shareholders.

The justices left in place a 2017 ruling by a federal appeals court in Washington that Greenberg’s Starr International Co had no legal right to challenge the bailout because that right belonged to AIG, which chose not to sue.

Greenberg, 92, led AIG for nearly four decades before being ousted in March 2005. The New York-based insurance powerhouse was rescued by the U.S. government in September 2008 to stave off bankruptcy after the company ran up huge losses from insurance on shoddy mortgage securities.

Starr’s attorney David Boies expressed disappointment in the Supreme Court’s action.

“Starr established that the disproportionate and unfair treatment of AIG’s shareholders in 2008 was not authorized by the applicable statutes and that the government had exceeded its authority by taking control of AIG and using it to bail out other financial institutions, which were found to have engaged in more risky practices,” Boies said in a statement.

,上海夜网官方网站Daisy,Starr, an insurance and investment business that had been one of AIG’s largest shareholders, sued in 2011 on behalf of itself and other shareholders alleging the government illegally took a 79.9 percent stake in the company ,上海仙霞路夜生活Jace,in exchange for a $85 billion loan from the Federal Reserve Bank of New York.

The shareholders’ rights were diminished in violation of the U.S. Constitution’s guarantee of due process under the law, Starr claimed, seeking more than $40 billion in damages.

A lower court ruled in Starr’s favor, but declined to award damages since the shareholders’ stock would have been worthless without the government loan. The bailout actually helped the plaintiff, that court said.

The U.S. Court of Appeals for the Federal Circuit t,上海夜生活乌托邦Lance,hrew out that ruling, finding that only AIG, and not Starr as a shareholder, had leg上海夜生活al standing to bring claims that the bailout was unlawful. AIG’s board of directors decided not to file such a suit.

AIG’s bailout eventually totaled $182.3 billion but was repaid, leaving taxpayers with nearly $23 billion in profit.

Starr appealed to the Supreme Court. President Donald Trump’s administration urged the justices not to take up the appeal.

Missouri Democrats filibuster proposed gay discrimination amendment

( ) – Democratic senators in Missouri were in the 20th hour of filibuster on Tuesday, trying to block a Republican-proposed amendment to the state constitution that would prohibit penalties on religious groups that discriminate against same-sex couples.

The Democratic caucus began the filibuster at 4 p.m. on Monday and members said they planned to continue until Wednesday. A filibuster is a prolonged debate – often around the clock – aimed at blocking progress of an initiative.

The proposed amendment in Missouri is the latest in a series of measures introduced around the country by conservatives in reaction to last year’s U.S. Supreme Court legalization of same-sex marriage. The measures seek to protect religious groups and companies from being fined or punished if they decline to provide services such as wedding cakes or flowers to same-sex couples.

“The most offensive thing is that it would put discriminatory language into the constitution of the state. But it would also put general revenue of the state at risk,” Senate Minority Leader Joe Keaveny, a Democrat, told . He pointed to a similar Religious Freedom Restoration Act in Indiana that led to groups threatening to cancel conventions in Indianapolis.

If the resolution to amend the constitution, SJR 39, passes the Senate, it would go to the state’s House of Representatives and then to Missouri voters for approval.

Republicans dominate both houses of Missouri’s General Assembly, with 24 of 34 Senate seats and 116 of 163 House seats.

Keaveny sai,上海夜玩网论坛Caitlin,d Republicans could respond to the filibuster by forcing a vote on the resolution to amend the constitution, but said that would be an unusual step. They could withdraw the resolution, or put it on an informal calendar to debate at a later date.

Republican Senator Bob Onder, who sponsored the resolution, said the resolution does not,上海夜生活论坛Cade, discriminate, but protects vulnerable religious institutions.

“We are fighting for fairness and the right for people to freely live out their faith while not infringing on the rights of others,” he said.

The language of the proposed amendment says it “prohibits the state from imposing a penalty on a religious organization who acts in accordance with a sinc上海夜生活网ere religious belief concerning same sex marriage, which includes the refusal to perform a same sex marriage ceremony or allow a same sex wedding ceremony to be performed on the religious organization’s property.”

Although the amendment does not mention companies, Keaveny said Democrats believe it would allow businesses to claim religio,上海夜生活服务Caden,us belief as a defense for refusing service to same-sex couples.

Deere & Co fears hit from Trump tariffs, retaliation: CEO

GRANADERO BAIGORRIA, Argentina ( ) – U.S. tractor maker Deere & Co (DE.N) is bracing for a negative financial impact from U.S. tariffs on steel imports and worries that retaliatory tariffs on American agricultural exports could follow, Chief Executive Samuel Allen told in an interview on Wednesday. ,上海夜生活论坛Nadia,

The 25 percent tariffs, which U.S. President Donald Trump announced la,上海夜生活服务Oakley,st month along with a 10 percent tariff on aluminum, could raise steel prices b上海夜生活y 30 percent and may prompt the company to switch materials, Allen said at an event marking Deere’s 60th year of production in Argentina.

“That would have an even longer negative impact on the steel industry,” Allen said. “There are a lot of unintended consequences we hope people think about as they go down the path of tariffs.”

Beyond the hit from higher input prices, Allen said the tariffs could prompt some of the United States’ major trade partners like Canada, Mexico and China to retaliate by putting tariffs on imports of U.S. agricultural products like corn or soybeans.

That reflected broader fears that Trump’s tariffs could set off a global trade war. The tariffs were aimed at hitting Chinese over-production, but also hit key allies like the European Union, Canada and Mexico, though the latter two have been granted an exemption.

“The near-term impact financially we don’t like, but the more important one is the longer-term potential impact taking U.S. farmers out of the world market for corn and soybeans,” Allen said.

The United States is the world’s No. 2 exporter of soybeans and top exporter of corn, according to the U.S. Department of Agriculture.

Allen added that Deere would absorb the costs of higher steel prices and “work aggressively”,上海夜生活网419Hallie, to cut other costs to offset the impact.

Boeing loses case against Denmark over fighter jet deal

COPENHAGEN ( ) – Boeing (BA.N) lost a lawsuit against Denmark on Friday which上海夜生活 related to the Danish government’s decision to buy Lockheed Martin’s (LMT.N) F-35 Lightning II combat jets in preference to Boeing’s F/A 18 Super Hornets.

Boeing had taken Denmark to court over a lack of access to documents used in the government’s deci,上海夜生活服务Barbara,sion to buy the Lockheed Martin jets.

“The court has found that the authorities’ decisions on refusal of access to the documents are legal and valid,” Copenhagen’s city court said in a summary of the verdict on its website on Friday.

Boeing said it was disappointed by the decision and would ,上海夜生活怎么玩Jack,now review it a,上海夜网Cade,nd consider how to proceed.

After Denmark decided to buy 27 of Lockheed Martin’s new warplanes in 2016, Boeing complained that the evaluation process for the planes competing for the order had been “flawed” and demanded access to the documents in the case.

“Boeing initiated this legal action to gain a better understanding of the evaluation process, in which we believe the Ministry made a number of critical errors and omissions in its evaluation,” Boeing said in a statement on Friday.

Denmark’s defense ministry had denied Boeing access because the U.S. company had not specified which documents it wanted to see, and that it would too large a task to find all documents since preparations for the order began in 2005.

Cracking the co-working code in commercial real estate

NEW YORK ( ) – Real estate brokers scoff that just a fraction of U.S. office space is occupied by co-working and other flexible workspace options, yet data shows over one-quarter of new leases signed in the past two years came from this burgeoning business.

A double-digit growth rate, driven in large part by the upstart WeWork, indicates co-working is more than a fad as more shared-space providers establish multi-city networks and landlords step into the fray with their own flex-space formats.

Commercial real estate is in flux and no one knows what the industry will look like in a decade, but sitting around won’t help the outcome, said Jonathan Iger, chief executive at the family-owned William Kaufman Organization (WKO), founded in 1924, which has launched its own flexible office space concept.

“It’s this whole sharing economy that we’re all very cognizant of,” Iger said, referring to the efficient use of space to lower tenant costs while allowing landlords to charge more per square foot.

Flexible workspace has been growing at an average annual rate of 23 percent since 2010, according ,上海夜网Kaiden,to Jones Lang Lasalle Inc JJL.N, and including co-working, is now the primary growth driver in the U.S. office market.

(For an interacctive graphic showing flexible office space growth, click: tmsnrt.rs/2FNerRO )

Co-working and other flexible workspace formats accounted for 18.1 million square feet, or 29.4 percent of new space that was leased in the United States over the past two years, JLL said in a February,上海夜生活去哪玩Quaid, report.

By 2030, flexible space and shared amenity areas will account for 30 percent of office space, the report forecast.

Co-working got its start from freelancers who needed offices rather than coffee shops and was followed by start-ups that liked how it freed up capital for more hiring and other expenditures. Now large companies are a visible clientele.

But outside of WeWork, bankrolled by Softbank with a $4.4 billion investment, and flex space leader IWG’s (IWG.L) Spaces unit, no other co-working firm has established a nationwide U.S. network with dozens of locations. That may soon change.

Serendipity Labs, a Rye, New York-based firm, opened its first co-working site in Manhattan last week and plans more than 125 U.S. openings over the next three years after 18 firms signed area of development agreements, the company said.

Flexible office space provider Knotel has been rapidly expanding its network in New York and San Francisco, while co-working start-up Industrious in February raised $80 million to double its number of sites to up to 60 this year.

‘MORE PEOPLE ON THE FLOOR’

Iger’s WKO owns five large traditional Class A, or prime, office towers in Manhattan and rolled out its own flexible format last month called Swivel. The site has meeting room sensors to better understand usage and features a rotating wall to create two rooms from one.

Landlords have been forced to focus on how to maximize space as the massive Hudson Yards development on New York’s far west side rises with its efficient floor plates.

“When you read about Hudson Yards versus older stocks of buildings like my own, it’s about the density, the additional bathroom, the column-free spacing, which all is a way of saying we can put more people on the floor than you can,” Iger said.

By moving the reception, pantry, conference room 上海夜生活and lounge into an area shared by five tenants, the Swivel layout slashed the space a tenant takes by roughly 30 percent and also its rent by the same percentage, Iger said.

The new floor plan WKO installed at its century-old converted warehouse in New York’s Meatpacking District allows firms to increase their workforce by about 50 percent, he said. Taking a cue from co-working firms, the commercial real estate standard of pricing space by square foot has been dropped, he said.

“We’re no longer looking at this on a price-per-square foot basis,” he said.

FOCUS ON HOSPITALITY

Serendipity Labs’ rollout is a franchise model that draws partners mostly from the hotel indu,上海会所夜网Kade,stry who have signed area of development agreements for the suburbs or secondary markets, said John Arenas, founder and chief executive.

The franchisee commits between $1 million and $1.5 million, depending on a location’s size, and will operate several sites within its area of operation, the company said.

“We’re targeting hospitality operators, those who own and operate hotels,” Arenas said, noting the company owns sites in Manhattan and Chicago. “They see workplace hospitality today as they saw the maturity of the hotel business 20 or 30 years ago. They’re getting in early,” he said.

Maximum Hospitality, a franchisee of Serendipity Labs in Nashville, Tennessee, already has marketing, accounting, legal and sales teams for the hotels it manages, Arenas said.

“The corporate culture of other companies is really a landlord-tenant culture, whereas our culture is a guest-member service provider culture,” he said.

Trump temporarily excludes EU, six other allies from steel tariffs

WASHINGTON ( ) – U.S. President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher U.S. import duties on steel and aluminum meant to come into effect on Friday.

In a presidential proclamation published late on Thursday, Trump said he would su,上海夜生活乌托邦Pablo,spend tariffs for Argentina, Australia, Brazil, South Korea, Canada, Mexico and the European Union, the U.S.’s biggest trading partner, until May 1, 2018 as discussions continue.

After May 1, Trump would decide whether to permanently exempt the countries based on the,上海夜网后花园Lake, status of talks, the White House said in a statement.

The United States was set to begin imposing the higher import duties of 25 percent on steel and 10 percent on aluminum, mainly aimed at curbing imports from China, as of 12:01 a.m. EST on Friday.

“I have determined that the necessary and appropriate means to address the threat to the national security posed by imports from steel articles from these countries is to continue these discussions and to exempt steel articles imports from these countries from the tariff, at least at this time,” according to Trump’s proclamation released by the White House.

It said countries not on the list could discuss with Washington ways to address U.S. national security concerns caused by imports of steel from that country. 

Earlier, German Chancellor Angela Merkel warned that the EU would respond firmly if the United States did not exempt European steel and aluminum.

The European Commission had proposed that if U.S. tariffs were applied the bloc would challenge them at the World Trade Organization.

Canada and Mexico are in the midst of renegotiating the North America上海夜网n Free Trade Agreement with the United States. Trump had said Canada and Mexico would only be excluded after the successful renegotiation of NAFTA.

Trump said South Korea was listed because of its important security relation,上海夜生活Rachel,ship with the United States, “including our shared commitment to eliminating the North Korean nuclear threat.”

South Korean President Moon Jae-in is pushing for a three-way leaders’ summit with North Korea and the United States aimed at ending the nuclear threat on the Korean peninsula. Trump has said he is willing to participate in the meeting although no date or location has been set.

Written by shyw on November 12, 2017 Categories: cacraomx Tags: , , ,

Exclusive: Russia considers extra $17 billion bailout for two…

MOSCOW ( ) – Russia’s central bank is considering pumping more than 1 trillion rubles ($17 billion) into two banks it first bailed out last year to shore up their balance sheets, three sources familiar with the discussion told .

Russian banks have been hard hit by the fallout from Western sanctions over Russia’s annexation of Crimea in 2014 and the economic impact of a sharp fall in oil prices on the country’s foreign currency earnings.

The central bank bailed out private banks Otkritie, B&N Bank and Promsvyazbank in 2017 and shut dozens of smaller lenders as part of a broader clean-up of a sector weakened by mounting bad loans and deposit outflows.

By the end of 2017, the central b,上海夜生活论坛Gabrielle,ank had provided more than 1.5 trillion rubles to improve the liquidity and capital of the three banks. Some of that money has been reimbursed but Otkritie has already said it needs more.

The 1 trillion rouble capital injection now under discussion is for Otkritie’s Trust and B&N’s Rost subsidiaries and would come on top of the money already disbursed, a source close to one of the banks said.

On Thursday, Otkritie said Trust and Rost – both burdened by a large amount of toxic loans – were set to be recapitalized soon as a part of a process to merge them into a single entity grouping the bad loans from both lenders.

Two other sources at rival lenders confirmed the central bank was considering providing the additional funds – equivalent to 11 percent of the Russian banking sector’s capital.

All three sources said discussions were still underway and a final decision on the size of the capital injection had not yet been taken. The central bank and Otkritie did not respond to requests for comment. B&N declined to comment.

The governor of Russia’s central bank, Elvira Nabiullina, is a close ally of President Vladimir Putin, who is on track to be re-elected in an election on Sunday.

SECTOR CLEAN-UP

Since she took up her post in 2013, Nabiullina has implemented stricter banking regulation and cracked down on poorly managed and undercapitalized banks.

Nearly 350 banks have lost their licenses and 35 lenders have been rescued, according to a report published in October by ratings agency Fitch.

Nabiullina has said bad loans in the banking sector amount to 5.3 trillion rubles, or less than 10 percent of outstanding loans, and do not pose a systemic risk.

The extra money for Otkritie and B&N is likely to come from a new central bank rescue fund set up last year cal,上海夜网后花园Paige,led the Banking Sector Consolidation Fund.

It is fin,上海夜生活网交流Tabitha,anced from the central bank’s own funds, which come either from printing new money or, to a far less上海夜生活论坛er extent, from profit the regulator makes on its financial operations.

Some banking sources have said a large injection of cash into the banks could distort Russia’s money supply and inflation rate, potentially having an impact on the central bank’s key policy rates.

The central bank has repeatedly said bailouts from the rescue fund will not add new money to the market because the money would only circulate between the fund and rescued lenders.

($1 = 57.5342 rubles)

Cancelling new Mexico airport would cost $6.6 billion: company CEO

MEXICO CITY ( ) – Cancelling the new Mexico City airport would cost about half its $13 billion budget, the head of the company in charge of the project said on Monday following threats by the presidential election front-runner to scrap it.

Federico Patino, the chief executive officer of Grupo Aeroportuario de la Ciudad de México (GACM), the firm overseeing the project, said with the project coming close to its halfway point by year’s end, the cancellation cost would be about 120 billion pesos ($6.6 billion).

“There will surely be lawsuits and damages with penalty clauses … and if we add this to the unfortunate cancellation of the labor on top of severance costs … the figure that we have is around 120 billion pesos,” he told a news conference.

The leftist who is leading opinion polls for the July election, Andres Manuel Lopez Obrador, has threatened to abandon the airport. Last week he said he would file legal challenges to block future work, lashing out at the project as “corrupt.”

However, he since softened his stance, calling for a thorough review of the project and offering to send members of his National Regeneration Movement (MORENA) party to meet with private sector and government experts.

Mexican President Enrique Pena Nieto would consider an invitation if offered, his spokesman Eduardo Sanchez told reporters, but will not halt construction while his administration sees out its term through November.

Sanchez sa,上海夜生活去哪玩Nadine,id aviation experts have deemed Lopez Obrador’s proposal to operate a small airport north of the city along with the current facility infeasible, and added that operating two connection hubs instead of one would hurt tourism.

“Canceling the new airport project would be outrageous,” Sanchez said.

GACM’s Patino dismissed suggestions that the airport was tainted by corruption and said that it was being built in accordance with high transparency standards.

“It’s a glass box through which any citizen can see what’s happening in real time,” he said.

He als上海夜生活网o said the project is on track for a 2020 deadline with 45,000 current employees, a figure set to eventually grow tenfold.,上海夜网官方网站Dahlia,

Last week’s raise of 30 billion pesos in an investment trust to fund construction underscores investor faith, Patino added.

Funds controlled by Mexican billionaire Carlos Slim,上海足浴夜网联系方式Caden,’s family are set to acquire a chunk of that trust, boosting a project in which Slim’s construction companies hold some of the largest contracts.

Deutsche Bank seeks to replace CEO with Goldman executive -report

( ) – Deutsche Bank (DBKGn.DE) is seeking to replace Chief Executive John Cryan amid an intensified boardroom row over the bank’s future and alarm at its performance, the Times newspaper reported on Monday.

Germany’s largest bank has approached Richard Gnodde, a senior executive of Goldman Sachs (GS.N), to take on Cryan’s role less than two years into his tenure, the newspaper s,上海高端夜生活在那里Dallas,aid.

Deutsch,上海仙霞路夜生活Easton,e Bank was not immediately available to comment on the London newspaper’s report. bit.ly/2G8F3AM

Gnodde, who is a vice chairman of Goldman Sachs, is said to have been pursued by the lender amid a breakdown between Cryan and Deutsche Chairman Paul Achleitner, the Times said.

Goldman Sachs did not immediately respond to a comment.

Gnodde is believed to have turned down the proposal. Other possible replacements considered are Jean Pierre Mu上海夜生活网stier, chief executive of UniCredit SpA (CRDI.MI), and Bill Winter, chief executive of Standard Chartered Plc (STAN.L), according to the Times.

Cryan and Achleitner are said to have disagreed over their approach to HNA Group, the Ch,上海凤楼夜网Cadence,inese conglomerate which became the German bank’s largest shareholder, the Times reported.

Cryan and Deutsche Bank’s chief financial officer, James von Moltke, were involved in a bitter board dispute over the bank’s future, arguing for a more radical restructuring that included a complete overhaul of its investment banking division, the Times said, citing a source.

“It is quite clear the relationship is broken between the chief executive and the chairman”, the Times quoted the source as saying.

Earlier this month, Deutsche Bank warned on costs for 2018, citing delays in some business disposals, even as the lender said it expects revenues to rise for the full year.

It also said its bonus pool would be above 2 billion euros ($2.49 billion) as the loss-making bank seeks to retain staff during a major overhaul.

($1 = 0.8028 euros)

Factbox: Top S&P 500 companies exposed to China

( ) – Investor worries about a trade war between the United States and China ratcheted up on Wednesday, leaving a number of large U.S. companies potentially in the crosshairs of a disput,上海夜生活男人好去处Lake,e because of their business with China.

The ,上海夜生活网交流Lance,tariffs on steel and aluminum imports ,上海夜网邀请码Sabine,proposed on March 1 and signed into law by U.S. President Donald Trump on March 8 have sparked concerns of a global trade war and frayed investors’ nerves.

Trump will likely announce tariffs on Chinese imports by Friday, a source in the administration said, as the top U.S. trade diplomat told lawmakers he had the tools to strike back over Chinese theft of U.S. technology know-how.

A report in the Wall Street Journal said China was planning counter-measures against U.S. tariffs.

Among the most affected could be the technology sector, particularly semiconductor companies, which have high revenue exposure to China, according to UBS.

Shares of U.S. exporters of agricultural上海夜生活 products such as soybeans and meat slipped on Wednesday. The Journal report said China was preparing tariffs targeted at U.S. agriculture exports.

Other business areas with companies that have high revenue exposure include the life-science tool industry and the consumer discretionary sector.

Activist investors say their voices are being heard by Japan Inc

TOKYO ( ) – Activist investors in Japan may be struggling to get companies to embrace their proposals but are optimistic that management is warming to shareholder activism that will likely shape more of Corporate Japan’s decision making.

Activist investment has been gaining momentum since ,上海夜网邀请码Hal,Prime Minister Shinzo Abe advocated strengthening corporate governance, and the peak season of annual general meetings in June could see more of such proactive shareholders attempt to influence management.

Japanese asset manager Sparx Asset Management’s (8739.T) proposals to synthetic fiber maker Teikoku Sen-i (3302.T) were rejected at its annual shareholder meeting on Thursday, according to a preliminary announcement from the company.

These included tripling dividend payouts from the current 30 yen ($0.28) per share and halving board members’ terms. Details of the actual vote will only be available next week.

Nevertheless, Sparx does not think it is leaving the meeting empty-handed. Teikoku Sen-i did announce a small increase in dividend last month.

“I think our proposal did have an effect. They surely don’t want to do exactly what we asked. But if we hadn’t made the proposal, they probably would not have raised dividend,” said Shuhei Abe, founder and chief executive officer of Sparx.

A Teikoku Sen-i spokesman said the dividend hike was to celebrate the company’s 110th year anniversary in 2017 and to reward investors for their support, and declined to comment on the shareholder proposals.

Abe also said active engagement helps improve shareholder value.

“Considering the globalisation of the market and Japan’s market and economic situation, we firmly believe the tides have already ,上海晚上耍女人的地方Hadleigh,turned toward shareholders actively raising issues and having constructive dialog with firms, and that this trend will continue to grow stronger,” Abe said.

In another battle, Hong Kong-based hedge fund Oasis Management said on Tuesday its six proposals to Japanese internet and cryptocurrency firm GMO Internet (9449.T) were rejected at its AGM last week.

But Oasis said it was encouraged by the fact that some of its propo上海夜网sals won support from nearly 90 percent of minority shareholders who voted, including some domestic institutional shareholders.

Their proposals were voted down largely because of a 41 percent stake its founder and CEO Masatoshi Kumagai and his personal office hold.

“This vote makes it clear that investors in Japan will ,上海凤楼夜网Nadine,stand up and make their voices heard by voting for positive corporate governance changes, against recommendations of management, whose interests have unfortunately deviated from what’s best for the company and all stakeholders,” said Seth Fischer, founder and Chief Investment Officer at Oasis.

GMO’s Kumagai said he appreciates that Oasis’s proposals are aimed at boost GMO’s value, and asked other investors to understand that management and Oasis are not in confrontation.

Meanwhile, San Francisco-based activist hedge fund ValueAct Capital, a mostly long-term value investor, said it was considering making its first investment in Japan this year.

Allison Bennington, partner of the fund, said ValueAct is aware that activist funds have long been viewed as “vultures” in Japan but its approach will be more constructive.

($1 = 106.6000 yen)

Companies clamp down on crypto ads as regulators play catch-up

LONDON ( ) – A growing number of internet companies are banning cryptocurrency advertising, fearing reputational damage if their users are duped or left penniless, even as regulators struggle to get to grips with the fast-emerging industry.

Twitter (TWTR.N) on Tuesday began blocking crypto ads, becoming the latest internet giant to crack down after moves by Alphabet’s Google (GOOGL.O) and Facebook (FB.O) earlier this year.

Once restricted to small online chat,上海仙霞路夜生活Caden,rooms for early bitcoin backers, cryptocurrencies have since exploded in popularity and the industry has grown rapidly.

Huge billboards promoting the latest coin hang over Tokyo’s streets, ads touting crypto-trading dot the London underground network, and social media platforms are full of start-ups looking to raise capital through “initial coin offerings” (ICOs), as the selling of new virtual tokens is known.

While regulators have stepped up their warnings about the risks to consumers of investing in cryptocurrencies and the potential for scams, in most jurisdictions they are only beginning to discuss publicly how they might regulate the industry, let alone frame advertising rules.

Last week, the G20 group of nations failed to agree on specific regulatory action.

So companies are taking matters into their own hands.

“If internet companies were not already under pressure from regulators for their loose control of data privacy, they probably would not ban advertising from cryptos, which are still a gray area for many ,夜上海论坛Nadine,regulators,” said Arnaud Masset, a crypto-currency analyst at Swissquote Bank.

Snapchat (SNAP.N) in February started removing adverts for ICOs – which regulators say lack transparency and are susceptible to fraud – a spokesperson told .

The company declined to comment on whether it would widen the ban to include individual cryptocurrencies, crypto-wallets and unregistered exchanges, as other technology giants have done.

LinkedIn is blocking crypto-related ads, a spokesman said, although owner Microsoft (MSFT.O) does allow adverts on its other platforms.

AROUND THE WORLD

Across Asia, where the crypto frenzy is at its most feverish, firms are also restricting advertising.

China outlawed cryptocurrency exchanges and ICOs last year. Chinese internet titans Baidu, Tencent, and Weibo followed suit by curbing ads shortly after.

While Japan’s government and regulators have embraced cryptocurrencies as a phenomenon that is here to stay, sentiment was hit by a $530 million cyber heist of an exchange in January.

Prime time TV advertising subsequently fell, billboards on Tokyo’s transport network were cut back and online companies are responding with changes to their advertising policies.

Line, Japan’s most popular social media site and messaging app, does not allow crypto-related advertising. The policy is designed to protect customers and avoid legal risks, it says.

The country’s financial watchdog, meanwhile, has asked the crypto industry’s new self-regulatory body to draw up advertising rules. It has not stipulated what it wants to see but it is likely that Japanese exchanges will not be allowed to mention specific currencies when advertising, while TV promotions for ICOs could be banned altogether, a source familiar with the matter told .

A spokesman for Yahoo Japan said the search engine was reviewing its policy in light of the changing environment.

Russian search site Yandex said it had not carried crypto ads for “a long time”.

While online companies are prohibiting ads, there is less evidence that traditional advertising routes are under threat.

London’s metro system is plastered with advertising promoting crypto-trading. Transport for London did not respond to requests for comment about its policy on advertising.

The slump in virtual currency prices this year has not rattled British punters lured in by adverts, however: A spokesman for Britain’s Advertising Standards Authority said it had to date received fewer than 10 complaints about crypto ads.

LITTLE IMPACT

Cryptocurrencies, unlike most securities, do not confer ownership in the underlying business, which is partly why advertising is not currently governed in conjunction with financial authorities.

Also, regulators are reluctant to rush to impose rules on cryptocurrencies as they examine the possible benefits of the Blockchain technology underpinning them.

Many analysts expect the likes of Google and Facebook to loosen blanket bans once authorities provide guidance on how virtual currencies and the infrastructure around them will be treated.

Christie Dennehy-Neil at the Internet Advertising Bureau, a B,上海夜生活服务Hadleigh,ritish trade body, said large online platforms often introduce policies that take “a judgment more broadly than advertising” to protect their reputation.

She said that the ideal case “would be for a product to be regulated and for there to be sector-specific rules for advertising”. But without regulation in place, companies were sensible to act on their own accord, she added.

Crypto supporters argue the bans will have little impact.

In China, which tried to stamp out crypto trading through a crackdown last year, investing in the sector remains popular.

Also, while promotions on Twitter and Facebook may appeal to new would-be buyers, investor conversations have shifted to other platforms and chatrooms where advertising is still permitted or where information on new coins is spread by word of mouth.

The price of bitcoin BTC=BTSP .MVBCH fell heavily after the Facebook ads ban announcement, but the reaction to similar moves by Google and Twitter since then was muted.

“Interest in cryptocurrency and ICOs remains undiminished even in China,” said Zennon Kapron at Shanghai-based financial consultancy Kapronasia.

上海夜生活网

“The decentralized nature of cryptocurrencies and investors means that it remains relatively straightforward to access information about, and invest.”

In an indication of the strength of that interest, while Line may not allow any related advertising, it is currently applying for a licence in Japan to operate its own cryptocurrency exchange.