Business – Navva Navva Trending News Thu, 23 May 2019 23:44:17 +0000 en-US hourly 1 Business – Navva 32 32 Oil markets are cautious after recent storms, eye G20 and OPEC meetings Tue, 27 Nov 2018 00:46:38 +0000

FILE PHOTO: Oil tankers are waiting to dock at the Tupras refinery near the northwestern Turkish city of Izmit, Turkey, June 28, 2017. REUTERS / Umit Bektas / File Photo

SINGAPORE (Reuters) – The oil markets have been cautiously opened Tuesday, with many traders who are reluctant to take large new positions prior to the G20 meeting in Argentina this weekend and the OPEC meeting in Austria next week.

US West Texas Intermediate (WTI) raw futures CLc1 amounted to $ 51.52 per barrel at 0011 GMT, a decrease of 11 cents or 0.2 percent over their last settlement.

International Brent crude oil futures that LCOc1 still had to trade, but which at the end of the previous day after Friday's price increase barely hung at $ 60 per barrel.

Since their most recent peaks in early October, oil prices have lost almost a third of their value, severely affected by an emerging supply surplus and by widespread weakness in the financial markets.

"The recent weakness seems to have been prompted by a broader, imminent disaster amid weak stocks, geopolitics, ensuing mitigating demand and increasing supply," said Jack Allardyce, oil analyst at financial services provider Cantor Fitzgerald Europe.

Looking ahead, Allardyce said: "Much depends" on the outcome of the Group meeting of 20 (G20) in Buenos Aires, where the United States and China are expected to address their trade disputes, and a meeting of the Organization of the Petroleum Exporting Countries (OPEC).

The leaders of the G20 countries, which are the leading economies of the world, meet on November 30 and December 1, with the trade war between Washington and Beijing at the top of the agenda.

The 175th annual meeting of the OPEC takes place at the head office in Vienna on 6 December and the group will discuss its output policy with some non-OPEC producers, including Russia.

"It looks like the market has already decided that the 1.4 million barrels of oil cut per day cut to production is not enough to offset the decline in demand growth expectations, so if that is the number, then it is the current (oil price) level could remain in the new year, or we might see some more weakness, "Allardyce said.

Reporting by Henning Gloystein; editing by Richard Pullin

Our standards:The Thomson Reuters trust principles.

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EPS for Calumet Specialty Products Partners, L.P. (CLMT) expected at $ -0.11 Tue, 27 Nov 2018 00:42:19 +0000

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November 27, 2018 – With something else

Investor sentiment fell to 0.54 in Q2 2018. It fell by 0.51, from 1.05 in 2018Q1. It declined because 10 investors sold Calumet Specialty Products Partners, L.P. shares, and 18 smaller holdings. 7 funds opened positions while 8 increased bets. 9.20 million shares or 1.75% more of 9.04 million shares in 2018Q1 have been reported.
Ameriprise Financial invested 0% of its portfolio in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Manufacturers Life Insur Com Invested 0% in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Barclays Public Lc stated that it has 191,887 shares. Raymond James And Associates reported 35,966 shares or 0% of all its participations. The Pennsylvania based Susquehanna Grp Ltd Liability Partnership has invested 0% in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Renaissance Technology Limited Liability Corp stated that it has 201,890 shares or 0% of all its holdings. Bessemer Gru has accumulated 0% or 2,000 shares. Gradient Invests Limited Co. has invested 0% of its portfolio in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Adams Asset Advisors Limited Liability has invested 0.66% of its portfolio in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). 28,100 were reported by Oakwood Capital Mgmt Ltd Co. Ca. Hilton Management Ltd Liability holds 2,000 shares. First Allied Advisory Serv Incorporated, based in Missouri, invested 0% in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Grp One Trading Limited Partnership has invested 0.02% in Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT). Linscomb & Williams have indicated that they have 147,014 shares. Salient Capital Advsr Ltd Liability Corporation has raised 131,614 shares.

Since August 15, 2018 it had 11 purchases and 0 selling transactions for $ 349,277 activity. $ 5,360 to Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) was purchased by Go Timothy on Tuesday, August 21st. The insider William A Anderson bought 11,600 shares valued at $ 41,650.

Analysts expect Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) $ -0.11 EPS report on December, 27. They expect $ 0.19 WPA change or 63.33% against the $ -0.3 WPA from the previous quarter. Having previously recorded $ 0.08 EPS, the Specialty Products Partners of Calumet, the analysts of L.P. -237.50% EPS growth. The stock fell by 2.64% or $ 0.09 during the last trading session and reached $ 3.32. Approximately 212,824 shares traded. Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) has decreased by 13.06% since 27 November 2017 and is deteriorating. It has dropped below 28,88% with the S & P500.

Calumet Specialty Products Partners, L.P., produces and sells specialty hydrocarbon products in North America. The company has a market capitalization of $ 261.35 million. It operates in three divisions: Specialty Products, Fuel Products and Oilfield Services. It currently has a negative result. The Specialty Products segment offers various lubricating oils, white mineral oils, petrolums, solvents, waxes, synthetic lubricants and other products that are mainly used as raw material components for basic products for the automotive industry, industry and consumer goods.

More notable recent news articles from Calumet Specialty Products, LP (NASDAQ: CLMT) were published by:, which published the following on November 9, 2018: "Earnings Scheduled For November 9, 2018 – Benzinga", also with their article : "Revenue planned for August 9, 2018 – Benzinga" published on August 9, 2018, published: "Better Buy: Calumet Specialty Products Partners, LP vs. Ashland Global Holdings Inc. – Motley Fool" on July 20, 2018. More Interesting news about Calumet Specialty Products Partners, LP (NASDAQ: CLMT) was released by: and their article: "Calumet Specialty (CLMT) Q3 Profit: What's in the cards? – Nasdaq" published on November 6, 2018, as well the news article from entitled: "Calumet Specialty Products Partners got hammered in 2016 and 2017 does not look much better – The Motley Fool" with publication date: February 3, 2017.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) Diagram of institutional positions

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Disney, Fox continued in US for US $ 1bil by Genting about the theme park of Malaysia – business news Tue, 27 Nov 2018 00:01:30 +0000

Walt Disney Co and Twenty-First Century Fox Inc. were sued for more than US $ 1 billion on Monday by casino executive Genting Malaysia Bhd , who accused them of giving up a contract in connection with the planned construction of the first theme park with the Fox brand.

Genting said that "the seller's regret" prompted Fox, with Disney's help, to terminate the 2013 contract with Fox Entertainment Group to license intellectual property for Fox World, a proposed addition to Resorts World Genting- complex, an hour's drive from Kuala Lumpur.

Disney did not respond immediately to requests for comments. Dan Berger, a spokesman for Twentieth Century Fox Film, one of the suspects, declined to comment.

The lawsuit has been filed in the Los Angeles District Court, while Disney is preparing to complete the purchase of many Fox assets worth $ 71.3 billion, expected in the first quarter of 2019.

Genting said the problems started when Fox was making a long period of delays to renegotiate the contract, so it did not take part in the sale of gates.

But according to the complaint, Disney is now "the boss" and wants to terminate the contract because associating with a gaming company did not fit in with its "family-friendly" brand strategy.

Genting said that Fox issued a notice of default in the hope of terminating the contract, in a way that "is fully in agreement with Disney who wants to close the deal" to help themselves.

"Since FEG was not entitled to terminate the agreement, Fox and Disney are liable for damages of more than one billion dollars due to the malicious behavior of both Fox and Disney," the complaint said.

Genting said it had already done a $ 750 million plus investment in Fox World. It is also looking for punitive damage.

According to the complaint, Resorts World Genting contains the only legal casino on mainland Malaysia, seven hotels, shopping centers, performances, gondola lifts and numerous restaurants, bars and clubs. Every year, more than 23 million people visit the complaint.

The case is Genting Malaysia Bhd. Fox Entertainment Group LLC et al., US District Court, Central District of California. 18-09866. – Reuters

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Tesla was about to die, according to Elon Musk Mon, 26 Nov 2018 23:39:51 +0000

In this picture it appears that Musk says that Tesla was "so close" to death, but the image has no connection with the text.
Image: AP.

2018 was a particularly complicated year for Elon Musk. The executive has starred in many newspaper headlines for saying things he should not have (but says it was worth it), strange gossip of their romantic relationships and more. Musk now admits that his esteemed company in the field of electric cars was about to die.

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In an interview with Axios, Musk said that the company dumped money in a ridiculously accelerated way & # 39 ;, causing them to be very close to death. According to Elon Musk:

"Tesla was confronted with a real death threat due to the production problems of Model 3. The company quickly bled money, and if we did not see and solve these problems quickly, we would die, we did it, but it was very difficult to achieve. "

The interviewer asks him after his remarks how close they are to death, whereupon the head of Tesla (although no longer the chairman) said: "it was a matter of a few weeks". After he admitted that Tesla's situation was much worse than his ever-active Twitter account, Musk admitted that he spent a lot of time working around 100 hours a week, from Monday to Sunday, sleeping in the Model 3 factory and to do everything within your reach to speed up production and solve problems.

Tesla was about to fail to deliver on the promise of distribution of Model 3 because of some problems in the production line of the car. However, some risky decisions by Musk, such as the inexplicable tweet that has cost him the presidency of Tesla, also put the company in serious jeopardy.

Now it seems that the worst has passed, but there is undoubtedly still much to do, especially when the spread of the Model 3 remains a bit slow and Musk said some time ago that in 2020 the production of the Tesla Model Y would start, in addition to his plans for the truck and for the new generation Roadster. [Axios (HBO) vía Jalopnik]

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Maple Leaf Foods plant $ 660 million, 1500-jobs poultry processing facility in London – London Mon, 26 Nov 2018 23:37:55 +0000

In a big blessing for the agri-food sector in London, Maple Leaf Foods says it plans to build a state-of-the-art 640,000-square-foot fresh poultry facility in the south-east of the city for $ 660 million.

The construction of the poultry processing plant will begin on Wilton Grove Road in Highbury Avenue in the spring, with an opening date set for early 2021, the company said in a statement.

When it is opened, the facility immediately supports more than 1450 full- and part-time jobs – a number that the company claims to grow as production volumes increase. The construction of the factory itself will generate 300 jobs, according to the company.

Vitalité Health Network stops offering soft drinks, energy drinks with N.B. equipment

The project, with a total cost of around $ 660 million, is largely financed by the company itself, with $ 34.5 million from the province, $ 20 million from the federal government and $ 8 million from a loan from the AgriInnovate Fund .

Three aging Maple Leaf plants in Ontario – in St. Marys, Toronto and Brampton – will close and consolidate their operations at the London plant, according to the company. The St. Marys facility will be closed at the end of 2021, while the others will be closed by mid-2022.

"Maple Leaf will work with local communities and the government to find alternative uses for the facilities when they eventually close," the company said in a statement. The company said it plans to provide employees with an impact on employment in the new facility or other factories that the company operates, as well as services to help them find a new job.

In a statement, Prime Minister Doug Ford said it was the largest investment in the history of the agricultural sector of Ontario & # 39 ;.

Ford will be in London Tuesday morning for a formal announcement alongside the federal minister of agriculture and other officials.

"It's great to see that a company like Maple Leaf is investing here in London," said Ford. "This innovative new plant will modernize processing and help make chicken farmers in Ontario more competitive."

According to the London Economic Development Corporation, more than 60 food and beverage companies, including Labatt, McCormick, dr. Oetker, Cargill, Nestle and others, employing more than 7,000 people in London.

The president and CEO of LEDC, Kapil Lakhotia, said that the plan has been the largest addition to the food processing sector in the city over the past twenty years.

"Maple Leaf Foods will provide significant employment and long-term economic benefits for the entire southwest region," he said briefly.

This story will be updated.

With files from The Canadian Press

WATCH: Celebrities give back to American Thanksgiving

© 2018 Global News, a division of Corus Entertainment Inc.

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Amorphous-Silicon Market 2018 Development, market developments, core-driven factors, segmentation and forecast up to 2023 – Mon, 26 Nov 2018 23:28:55 +0000

Amorphous silicon market in

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Cyber ​​Monday on schedule for American online store record Mon, 26 Nov 2018 21:11:03 +0000

(Reuters) – Cyber ​​Monday was on track to raise a record $ 7.8 billion of online sales in the United States, while millions of customers were looking for sharp discounts on everything from Lego sets to large screen TV & # 39; s.

The marketing event was expected to gain steam tonight, as West Coast buyers close deals after work and purchase purchases on the American East Coast before bedtime, according to Adobe Analytics, which measures transactions among 80 of the 100 largest US vendors.

"Many buyers have been waiting for certain purchases, of which it is expected that three o'clock tonight will generate as much revenue as an average full day," said Taylor Schreiner, director of Adobe Digital Insights.

Target Corp and Inc did everything they could by offering free delivery without minimum order requirements and bombarding shoppers with promotional emails. Companies had registered $ 531 million from 10 am ET, discovered Adobe Analytics.

The shares of Amazon were 5 percent higher in the afternoon trade. Macy's Inc, Kohls Corp and Target shares also rose.

In another estimate, Mastercard SpendingPulse predicts a 25 percent jump in the sales volume of e-commerce to at least $ 3 billion. This figure was based on sales via the Mastercard payment network and estimates for other forms of payment such as cash and checks.

These American forecasts were still pale compared to the "Singles Day" of Alibaba Group Holding Ltd earlier this month, which gained $ 30.7 billion in sales.

The promotion efforts prior to American shopping madness attracted the anger of some who complained that they had woken up with more emails from Cyber ​​Monday than in recent years.

"Yes, retailers, I am aware that it is Cyber ​​Monday, even without the 150 e-mails," tweeted Keina (@RealMamaEagle), a Delaware user.

Packaged goods on a conveyor belt after being labeled for shipment are shown at the Amazon fulfillment center in Robbinsville, New Jersey, US, November 26, 2018. REUTERS / Shannon Stapleton


With an estimated 75 million customers, the day was a test for online platforms and delivery activities of retailers.

If there was no backup with the right IT infrastructure, heavy traffic could have caused hours of failures, such as during Amazon's Prime Day marketing event in July.

But from 2.30 pm. ET on Monday, no major American chain had technical problems, according to down tracker On Black Friday, some websites, including clothing store J.Crew and the home improvement chain Lowe & # 39; s Cos Inc, had temporary interruptions.

Consumers increasingly buy online holiday gifts, weakening the importance of Black Friday when consumers traditionally flocked to the physical stores for the best deals.

"I find Cyber ​​Monday more convenient than Black Friday," said Jeissy Casilla, 23, a salesperson in Puerto Rico, adding that it allowed her to browse through multiple stores and offers and avoid long queues.

"I think Cyber ​​Monday is better in terms of how much you can do while doing so little – in fact a better chance of the best deals," she said.

Toys were expected to have the biggest rebates, said Adobe Analytics, as retailers are rushing to fill the void left by the bankruptcy of America's largest toy retailer Toys & # 39; R & # 39; Us.

Target offered a 30 percent discount on special toys, while Kohl & # 39; s discounted Lego bets between 30 percent and 40 percent.

slideshow (4 pictures)

Merkwatch for social media conversations said that of the 13,000 mentions on social media from #Cybermonday, the Apple Watch and the Red Dead Redemption 2 video game were two products that were highly discussed.

The National Retail Federation predicts that US retail sales in the holidays, including online, in November and December will be between 4.3% and 4.8% between 2017 and the year, for a total of $ 717.45 billion to $ 720.89 billion.

Additional reporting by Uday Sampath Kumar and Soundarya J in Bengaluru, Melissa Fares in New York and Jeffrey Dastin in Los Angeles; Edited by Bernard Orr and Meredith Mazzilli

Our standards:The Thomson Reuters trust principles.

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Cavan-based insulation board company sued the insurer for € 6.5 million Mon, 26 Nov 2018 20:56:39 +0000

A company that produces underfloor heating panels complains to its insurer for an alleged refusal to reimburse it for claims arising from the reduction of its product.

Ballytherm of Ballyconnell, Co Cavan, says that the value of claims that have already been served to it amounts to more than € 6.5 million and states that it is entitled to compensation, with a limit of € 6.5 million.

It says that it is faced with claims for property damage as a result of the shrinkage which it says is significantly due to a change in a chemical mix that a Dutch company supplied for making the plates.

Ballytherm claims that British insurers / insurers of Brit UW Ltd have wrongly refused to offer compensation under the product liability coverage of its liability insurance for contracts.

On Monday, the case was granted after permission from the judge Robert Haughton to the court of commerce.

The company manufactures rigid polyisocyanurate (PIR) insulation boards that are used in the construction of residential and commercial properties.

It makes the plates with a chemical blend that had previously been purchased from the German company Bayer AG and which was then taken over from the Dutch company Covestro BV after a reorganization within the Bayer group.

Declaration under oath

In an affidavit, Ballytherm's director, Brendan Cosgrove, said that the company had been informed in March 2016 of cracking and associated damage in the number of homes owned by a construction company that had used the plates in underfloor heating.

Although it was initially suspected that this was due to an infill product under the insulation, some questions arose about the structural integrity of the plates, he said. Then Ballytherm received a number of similar reports from others who had installed the cards in their properties.

Mr Cosgrove said, after investigations, his company discovered that a change in the chemical composition that Covestro made between November 2014 and February 2016, "a significant factor" in the contraction of the board.

Mr Cosgrove said that only a small proportion of the signs produced during that period seem to show problems.

Ballytherm provided Brit UW with a list of the parties claiming damages, but the insurer refused to provide compensation, he said.

Mr Cosgrove says that the company is entitled to compensation, with a limit of € 6.5 million and that it is essential that the matter is resolved as quickly as possible.

The value of already reported claims is higher than € 6.5 million, he added.

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Stocks you can set and forget: B2Gold Corp. (BTG), Altaba Inc. (AABA) Mon, 26 Nov 2018 20:47:33 +0000

B2Gold Corp. (NYSE: BTG) & # 39; s EPS was $ 0.05 as reported for the September quarter. By comparison, the same quarter a year ago had an EPS of $ 0.01. That means that the growth in general is now at 400%. Therefore, a prediction of $ 0.05 given by the analysts brought a negative surprise of 0%. The revenues of BTG September 18 were $ 323.86 million, compared to $ 154.11 million last year in the same quarter, bringing a growth rate of 110%. The revenue growth of $ 169.75 million that the company pledged this quarter surprised Wall Street and investors will have to consider this when assessing the shares.

B2Gold Corp. (BTG) is currently trading at $ 2.67, which is -2.2% lower than the previous price. It has a total of 988.58 million outstanding shares, with an ATR of approximately 0.11. The stock volume of the company fell to 1.17 million, worse than 3.54 million representing its 50-day average. A 5-day increase of approximately 5.53% in the price means that BTG is now -13.87% lower on an annual basis. The shares have surrendered $ 43325.33 since the $ 3.30 52 weeks high price quoted on January 25, 2018. Overall, it has posted a growth of -1.11 over the past 12 months. The current price per share is $ 0.57 above the lowest point in 52 weeks of $ 2.10 on August 16, 2018.

17 analysts from 17 Wall Street stockbroking firms rate BTG shares as a buy, while 0 see it as a sale. The rest 0 describes it as a Hold. The stock traded higher to an intra-day high of $ 2.74. At a certain point in the session, the potential stopped and the price dropped to a low of $ 2.65. Analysts have set BTG's consensus price at $ 3.5, giving it an expected revenue of 31.09%. If the expected estimates are reached, the shares will probably reach the highest price with $ 6 (an increase of 124.72% over current price levels). BTG has an ROE of 0%, higher than the average of -1.8% for the branch. The average ROE for the sector is 13.71%.

The shares of Altaba Inc. (NASDAQ: AABA) increased by 0.4% in the last trading period, bringing the total 5-day performance to -3.09%. BTG & # 39; s price now at $ 62.4 is weaker than the average over 50 days of $ 63.13. The trading period increased to 200 days, with the share price averaging $ 71.02. The general public currently has control over a total of 0 million shares, the number that is publicly available for trading. The total of the shares that it has issued to investors is 602.6 million. The management of the company holds a total of 10.35%, while institutional investors hold approximately 75.79% of the remaining shares. The BTG share price ended the last transaction, 1.72% above its 20-day simple moving average and the downbeat gap of 200 days simple moving average is -12.18%, while the session ends with -1.33% distance of the 50-day simple moving average.

Altaba Inc. (AABA) shares were last seen, with -32.32% less since June 14, 2018 when the $ 82.45 peak was noted. Last month's price increase of 5.64% sets the AABA performance for the year at -10.67%. The price of the shares therefore rises by 11.91%, a 52-week worst price since October 30, 2018. However, it loses value with -19.41% in the last 6 months. From a technical point of view, it seems more likely that the stock market will experience a Bull Run market as a result of the strong support recently observed between $ 60.7 and $ 61.55. The immediate resistance area is now $ 63.01 Williams% R (14) for AABA moved to 42.08 while the stochastic% K points to 54.99.

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The press release from General Motor, translated – Quartz at Work Mon, 26 Nov 2018 20:43:14 +0000

In a jargon-filled press release, General Motors today announced (November 26) that it is firing 15% of its payrolls and non-allotment-errant, closure-five plants in the US in Canada.

As CNN puts it, the car manufacturer reinvests money from cars that have once dominated the roads of America and put in technology that, in his opinion, will strengthen the future. "

Or, as GM put it, it will "strengthen its core business, capitalize on the future of personal mobility and realize significant cost savings."

The rest of the press release was also euphemistic. For the sake of clarity we have made some edits.

General Motors is Dismiss 15% of its employees Accelerates transformation

DETROIT – General Motors (NYSE: GM) five North American factories close and 15% of employees discharged. accelerate its transformation for the future, building on the comprehensive strategy it has outlined in 2015 to strengthen its core business, to exploit the future of personal mobility and to realize significant cost savings. The company hopes that this announcement will be drowned out by the sale of Cyber ​​Monday and is completely forgotten at Christmas.

Today, GM continues to take proactive steps to improve overall business performance, including the reorganization of its global product development staff, the reallocation of production capacity and a reduction in the number of salaried employees. Of these actions is expected increase the annual custom automotive free add $ 6 billion in annual cash flow through the efrom 2020on a run-rate basis.

"The actions we take today continue our transformation to be very agile, resilient and profitable will lower our costs, while giving us the flexibility to invest in the future, "said GM Chairman and CEO Mary Barra." We recognize the need to change course after people no longer bought so much from our cars Stay informed of changing market conditions and customer preferences to position our company for long-term success. "

Contribute to the cash savings of GM & # 39; s actions will save about $ 6 billion, including to be cost savings of $ 4.5 billion and a lower annual return on investment of capital expenditures from a decrease in annual capital expenditures by almost 1.5 billion dollars. The actions include:

Transforming product development – GM is further develop its workforce and product development processes at world level to promote world class technology in advanced technologies, and to make too many products that do not want enough people and that do not get the good stuff fast enough. and to improve the quality and speed of marketing. The resources allocated to electric and autonomous vehicle programs will double over the next two years. Additional actions include:

  • Increasing of high quality parts of components throughout the portfolio, especially those that are not visible and perceptible to customers.
  • Expansion of the use of virtual tools to shorten the development time and costs.
  • Integration of its vehicle and propulsion engineering teams.
  • Compressshrinking are global campuses for product development.

Optimize shrinking the product portfolio – GM recently invested in newer, very efficient vehicle architectures, especially in trucks, viaducts and SUVs. GM now intends to give priority to future vehicle investments in its next generation battery-electric architectures. As the current vehicle portfolio is optimized shrinks, more than 75 percent of GM's global sales volume is expected to come from five vehicle architectures at the start of next decade.

Increase the occupancy rate Grow what works – Over the last four years, GM has reallocated its capital and resources to support the growth of its cross-overs, SUVs and trucks, adding shifts and investing $ 6.6 billion in US plants that are 17 600 jobs have been created or maintained. Although we would never admit that we believe people will stop buying cars one day, we are preparing for a dizzying drop-off. As such, With changing customer preferences in the US and in response to market-related volume declines in auto & # 39; s, future products will be assigned made on fewer plants next year.

Assembly companies will be that shut downunassigned in 2019 include:

  • Oshawa Assembly in Oshawa, Ontario, Canada
  • Detroit-Hamtramck Assembly in Detroit
  • Lordstown Assembly in Warren, Ohio

Drive plants that will be shut downunassigned in 2019 include:

  • Baltimore Operations in White Marsh
  • Maryland. Warren Transmission
  • Operations in Warren, Michigan

In addition to the previously announced closure of the assembly plant in Gunsan, Korea, GM stop the operations of shut down two extra installations outside of North America by the end of 2019.

It is expected that these production actions will significantly increase the occupancy rate. To further improve business performance, GM will continue to work to improve other production costs, productivity and competitiveness of wages and benefits.

laid off Staffing transformation– The company is transform shrink its global workforce save costs make sure it has the right skills for today and the future, while boosting efficiency by using the best tools in its class. Measures are being taken to reduce the number of paid and paid contract employees by 15 percent, including 25 percent fewer managers to streamline decision making blown up the bureaucracy.

Barra added: "These actions will increase the long-term profit and cash generation potential of the company and improve resilience during the cycle." The company lost $ 3.7 billion in 2017.

GM expects to finance the restructuring costs through a new credit facility.this will further improve the strong liquidity position of the company and increase its financial flexibility.

GM expects to book taxes of $ 3.0 billion to $ 3.8 billion, including up to $ 1.8 billion of non-cash accumulated asset and pension expense, and up to $ 2.0 billion of staff-related and other cash payments. on the basis of costs. The majority of these costs will be considered as special for EBIT-adjusted EPS-adjusted and corrected car-free cash flow objectives. The majority of these costs will be incurred in the fourth quarter of 2018 and the first quarter of 2019, with a number of additional costs incurred in the remainder of 2019. GM did not expect Tesla to be the most valuable car company in the US last year. Hopefully these dismissed GM will keep the focus.

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